Fifth Ward Savings Bank - Jersey City, NJ

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: March 21, 1884
Location: Jersey City, New Jersey (40.728, -74.078)

Metadata

Model: gpt-5-mini
Short Digest: fc2b02b6

Response Measures

None

Description

Article (New-York Tribune, 1884-03-21) states the Fifth Ward Savings Bank is 'suspended' and Chancellor Runyon ordered payment of a dividend to depositors. No run is mentioned. The piece implies court supervision and distribution to depositors, suggesting the suspension led toward permanent winding-up; however the article does not explicitly state a final receivership or formal permanent closure, so classification as suspension_closure is made with some uncertainty.

Events (1)

1. March 21, 1884 Suspension

Cause Details: Article reports the bank is 'suspended' but gives no cause for the suspension (no run, no government action specified beyond chancery order).
Newspaper Excerpt: Chancellor Runyon has issued an order directing the payment of the fifth dividend of ten per cent to the depositors of the suspended Fifth Ward Savings Bank.
Source: newspapers

Newspaper Articles (1)

1. March 21, 1884 New-York Tribune New York, NY

Article from New-York Tribune, March 21, 1884

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Article Text

JERSEY CITY. Ferdinand De Laforte has been missing from his home, No. 1,042 Summit-ave., for two days. Chancellor Runyon has issued an order directing the payment of the fifth dividend of ten per cent to the depositors of the suspended Fifth Ward Savings Bank. The city is to havea public library. A company has been formed for the purpose with a capital of $25,000. Michael Marks, age seventy-two, of No. 154 Union-st., committed suicide last evening, by hanging himself in a woodshed. Several months ago John H. Austin was arrested at Red Bank for abandoning his family. He had a large number of affectionate letters from young women in various parts of the country. His wife obtained a divorce from him yesterday. Michael Hogan was leaning against the crib-work of the Pennsylvania Ferry yesterday when a boat ran against it and caught him between two piles, He is believed to have sustained fatal injuries, and was removed to his home, No. 164 Railroad-ave. The Board of Fire Commissioners has been requested by the Board of Education to examine school building No. 2, which is said to be in a dangerous condition. The examination will be made by President Leather, of the Fire Board, and Chief Engineer Farrier, who is also Fire Marshal.