Holland Trust Company - New York, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust
Start Date: April 18, 1916
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 7e6451cd7f464b13

Response Measures

None

Description

Article (1916-04-18) refers to a receiver (Samuel Bryant) of the Holland Trust Company of New York pursuing foreclosure actions and selling assets. The text does not describe a depositor run or an explicit suspension date, but the appointment of a receiver indicates the bank was in receivership/closed. No reopening is mentioned.

Events (1)

1. April 18, 1916 Receivership

Newspaper Excerpt: The sale was a foreclosure by Samuel Bryant, receiver of the Holland Trust Company of New York, against Leon Stern.
Source: newspapers

Newspaper Articles (1)

1. April 18, 1916 The Mount Holly News Mount Holly, NJ

Article from The Mount Holly News, April 18, 1916

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Article Text

Barnegat Park Sold. Barnegat Park, the once countrywide famed resort for army and navy men, was sold at Sheriff's sale on Tuesday to Samuel A. Cook, of Neenah. Winnebago county, Wisconsin, for $41,558.62. The sale was a foreclosure by Samuel Bryant, receiver of the Holland Trust Company of New York, against Leon Stern. The resort town, Barnegat Park, was started about 1889 by Lieut. Edward S. Farrow, of the U. S. Army, who is now living at Asbury Park. He intended to make it a resort exclusively for army and navy officers, and more particularly a winter resort. He put into it a great deal of money, much business acumen, and an unlimited amount of energy and enthusiasm. The new resort had a rapid growth A fine hotel was built, called the Pines, and costing something like $40,000 there were a number of cottages started and a church was erected. The resort had its own bank and its own newspaper; there was a grocery store, a big livery stable and the future seemed assured. Then a lawsuit, or rather a veritable storm of lawsuits, broke out be. tween Farrow and his Barnegat Park Co. on one side, and thé Holland Trust Company of New York on the other side. They foreclosed a blanket mortgage on the whole property, and he fought it. In the Chancery court the mortgage was pronounced valid, and the foreclosure followed, the property being sold by John A. Montgomery, a Trenton lawyer, as .eceiver, and bought in by the Trust Company, while in another suit in the Supreme court, the mortgage was prouounced invalid. There was little wonder that ordinary foiks in this section could not get the right of the dispute. Lieutenant Farrow was arrested and taken to the county jail at one time in one of the many controversies; he was ordered to Montana to rejoin his regiment, and resignea from the service after going as far as Chicago, and returned home. For this he wascourt-martialled, but was acquitted. After stirring times the property laid dormant till about three years ago, when it was bought by Leon Stern, a New York real estate operator. He held it till now, when the receiver for the Trust Company, who had sold the property to Stern, foreclosed on the purchase price mortgage, and it is bid in by the Wisconsin man.