Jersey City Savings Bank - Jersey City, NJ

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: *
Location: Jersey City, New Jersey (40.728, -74.078)

Metadata

Model: gpt-5-mini
Short Digest: 2da67155

Response Measures

None

Description

Article (New-York Tribune, 1881-01-12) reports that Michael Sandford was appointed receiver of the Jersey City Savings Bank ~a year earlier, has not rendered accounts, and was adjudged in contempt. This indicates the bank was in receivership/closed. No run or contemporaneous suspension-by-depositors is described in the article.

Events (1)

1. * Receivership

Newspaper Excerpt: About a year ago he was appointed receiver of the Jersey City Savings Bank, ... He has never rendered any account of the condition of the institution, although small dividends have been paid at long intervals. The depositors and creditors have been clamoring for an accounting for some time, without effect.
Source: newspapers

Newspaper Articles (1)

1. January 12, 1881 New-York Tribune New York, NY

Article from New-York Tribune, January 12, 1881

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Article Text

DECLARED TO BE IN CONTEMPT. Michael Sandford, receiver of the Union Bank of Jersey City. has been adjudged in contempt by Chancellor Runyon, of New - Jersey, and ordered to be sent to jail to await a hearing. Sandford was formerly cashier of the First Na ional Bank of Jersey City, but when the Union Bank failed be was appointed receiver. About a year ago he was appointed receiver of the Jersey City Savings Bank, and subsequently of the Homestead Association of Hoboken. He has never rendered any account of the condition of the institution, although small dividends have been paid at long intervals. The depositors and creditors have been clamoring for an accounting for some time, without effect. Some time ago the creditors of the Union Bank made application to the Chancellor for an order requiring Sandford to render an accounting. The Chancellor made an order directing the receiver to make an accounting December 27, before Master in Chancery Washington B. Williams, of Jersey City. Sandford obtained an extension of time until last Saturday upon the plea of sickness, and on Saturday he failed to appear. He had not been arrested yesterday.