Edgewater Trust Company - Edgewater, NJ

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: February 1, 1934*
Location: Edgewater, New Jersey (40.827, -73.976)

Metadata

Model: gpt-5-mini
Short Digest: a37b3e4c

Response Measures

None

Description

OCR in the article is poor. The piece states the bank suspended March and was declared last Feb. Legal suits to collect large sums suggest insolvency and a receivership/declared failure. No mention of a depositor run; therefore classified as a suspension leading to closure/receivership.

Events (2)

1. February 1, 1934* Receivership

Newspaper Excerpt: and was declared last Feb.
Source: newspapers

2. March 1, 1934* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank suspended in March following financial distress; suits filed to collect debts indicate bank-specific insolvency problems.
Newspaper Excerpt: The bank suspended March
Source: newspapers

Newspaper Articles (1)

1. May 21, 1934 The Jersey Journal Jersey City, NJ

Article from The Jersey Journal, May 21, 1934

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Article Text

Bergen Men Named In Bank Suit TRENTON. (P)-Suits to collect $47,300 in filed today Federal Court by Richard Layton, for the First National Bank of The bank suspended March and was declared last Feb. An of $50,000 levied last March upon One suit collect $38,300 against Edgewater Trust Co. Other ten shares each against whom suits were instituted Donald Malcolm. B., and HerbLowe, all of Fort Lee: Edsall, Palisades Park: Willis H. Palmer, Frank B. OraH. Nutt, Cliffside Park, and Henry Wissel of Edgewater.