Haddon Heights Bank & Trust Company

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: trust company
Start Date: January 3, 1931
Location: Haddon Heights, New Jersey (39.877, -75.065)

Metadata

Model: gpt-5-mini
Short Digest: f35fa3eb

Response Measures

Full suspension

Other: Bank was closed (failed to open) after 'excessive withdrawals' and later placed in receivership; state banking department/special commissioner distributed funds.

Description

Newspapers report the Haddon Heights Bank & Trust Co. failed to open Jan 3, 1931 after excessive withdrawals in prior days (a run), the bank suspended/closed and did not resume normal operations. By July 1931 the State Banking Department was distributing funds to depositors, indicating permanent closure and receivership. OCR errors in Article 1 corrected (garbled text).

Events (3)

1. January 3, 1931 Run

Cause Details: Excessive withdrawals in the last few days (newspapers describe heavy withdrawals/run but do not specify a triggering rumor or specific adverse revelation).
Measures: Bank suspended operations/failed to open to protect remaining depositors.
Newspaper Excerpt: The closing necessitated by excessive withdraw[als]...deposits in the last few business
Source: newspapers

2. January 3, 1931 Suspension

Cause Details: Bank failed to open / suspended business because of excessive withdrawals and inability to meet demands.
Newspaper Excerpt: The Haddon Heights Bank & Trust Co. ... failed to open today.
Source: newspapers

3. July 21, 1931 Receivership

Newspaper Excerpt: State Banking Department To Distribute $133,327.32... Payments to depositors and preferred creditors of the defunct Haddon Heights Bank and Trust Company ... yesterday by Vice ... Frank J. Fitzpatrick, special commissioner of banking ... July months after the bank closed dividend ... to depositors and preferred creditor of the defunct Haddon Heights Bank and Trust Company (distribution of funds by state banking department).
Source: newspapers

Newspaper Articles (4)

1. January 3, 1931 The Evening Sun Baltimore, MD

Article from The Evening Sun, January 3, 1931

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Article Text

Bank In New Jersey Suspends Business Haddon Heights Firm Officials Say "Excessive Necessitated Move Camden. Haddon Heights Bank Trust Company. Haddon near failed today. deposits totaling about The closing was tated missal the last few days, and business suspended remaining depositors. The directors be able ceeded organize the bank's affairs and they did not know how would take. Edward Deibert, an officer Reading Railway, president Jarratt (Va.) Bank Closes State Banking Department was formed today Bank In Jarratt, Sussex failed today. Close Days State Bank suspended period five The had deposits approximately and profits about

2. January 4, 1931 Shoshone News-Press Kellogg, ID

Article from Shoshone News-Press, January 4, 1931

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Article Text

NEW JERSEY BANK CLOSED SATURDAY Haddon Heights Bank and Trust company near here failed to open today The bank has deposits totaling about The closing necessitated by "excessive withdrawdeposits in the last few business suspended to protect remaining

3. January 4, 1931 The Cincinnati Enquirer Cincinnati, OH

Article from The Cincinnati Enquirer, January 4, 1931

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Article Text

THREE BANKS SUSPEND. January 3-(AP) The Washington State Bank suspended today for a period of five days. Richmond, Va., January 3-(AP)The State Banking Department was informed today that the Bank of Jarratt at Jarratt, Sussex County, had failed to open. Cambridge, N. J., January 3-(AP) The Haddon Heights Bank & Trust Co. at Haddon Heights, near here, failed to open today.

4. July 21, 1931 The Daily Journal Vineland, NJ

Article from The Daily Journal, July 21, 1931

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Article Text

Haddon Hts. Bank Makes Payment State Banking Department To Distribute $133,327.32 Months After Closing Payments to depositors and pre ferred creditor of the defunet Haddon Heights Bank and Trust Company terday by Vice Leaming in Chang Court, Camden. nable bank ing officials distribut 327.32 to the reditor and depositor from The fund Frank J. Fitzpatrick, special missioner of banking figure of July months after th bank closed dividend to the Vincland Trust Company will be some time the Fall. believed. although no fruit The three Congre A. Wolvreton, connsel for Fitz patrick, stated. Cla provide for items drawn upon by the bank business January 3. Class B persons who paid off notes in the stitution after pension without receiving full benefit to off their balane Miscellaneous item Class C. All deposits on January the day prior to the bank ing are in cluded. This $105. 194.12. However, only $26,352.38 can be classified preferred, the statement indicated.