14075. Peoples National Bank (Keyport, NJ)

View Charter #4147 on SPMC

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
4147
Charter Number
4147
Start Date
September 1, 1903*
Location
Keyport, New Jersey (40.433, -74.200)

Metadata

Model
gpt-5-mini
Short Digest
7d299ecb

Response Measures

Books examined

Other: Bank weathered the run; government examiner declared it sound.

Description

Multiple articles (Sept 16–17, 1903) report that after Director Benjamin B. Ogden resigned/disappeared there was a run on the People's/Peoples National Bank which the bank 'weathered' and was declared sound by a government examiner. No suspension, receivership, or permanent closure is mentioned. OCR variants fixed (People's National / People's' National / People's National Bank standardized to Peoples National Bank). Date of run is given relative to articles (about two weeks or ten days before publication); I record month/year only.

Events (1)
1. September 1, 1903* Run
Cause
Bank Specific Adverse Info
Cause Details
Resignation and disappearance/insolvency of Director Benjamin B. Ogden; his large debts and held paper alarmed depositors.
Measures
Bank was examined by government examiner and declared in sound condition; the run was 'weathered' (no suspension).
Newspaper Excerpt
When he resigned there was a run on the bank, which was weathered.
Source
newspapers

Newspaper Articles (8)
1. September 16, 1903 The Daily Morning Journal and Courier New Haven, CT
Article from The Daily Morning Journal and Courier, September 16, 1903

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Article Text

A MAYOR DISAPPEARS. Alleged to Have Left Debts of $100,000 With Small Assets. New York, Sept. 15.-The World tomorrow will say: Benjamin J. Ogden. mayor and leading lawyer of Keyport, N. J., has disappeared, leaving debts of $100,000 and small assets. He had in his hands numerous large trust estates for settlement. Ogden was largely interested in a cutIery factory in Keyport and sank thousands of dollars in it. Up to two weeks ago he was a director in the Peoples' National bank. When he resigned there was a run on the bank, which was weathered. The bank holds over $11,000 of Ogden's paper which, it is said, is fully secured. Ogden was the leader of the republican party in that section, was serving a second term as postmaster, and a few years ago was an unsuccessful candidate for surrogate. There is no clue to Ogden's whereabouts.

2. September 16, 1903 Perth Amboy Evening News Perth Amboy, NJ
Article from Perth Amboy Evening News, September 16, 1903

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Article Text

MAYOR OGDEN GONE. A Keyport Pooh-Bah Has Not Been Seen Lately. KEYPORT, N. J., Sept. 16.-Benjamin B. Ogden, mayor of Keyport. postmaster, president of the town commisstoners, president of the school trustees and until ten days ago a director in the People's National bank, is missing. He was last seen Friday, Sept. 11. His resignation as a bank director had been demanded and accepted. There had been a run on the bank, which the government examiner had declared within two weeks to be in sound condition. Scores of persons whose inherited estates were in Ogden's hands for settlement had called upon him for statements without obtaining satisfaction. His bondsmen in these transactions and indorsers of his paper were greatly alarmed. Mr. Ogden sold for $400 his handsome pair of horses. carriages and silver mounted harness. He had paid $600 for the harness alone in Norfolk, Va., a few months ago. His naphtha launch he transferred to a personal friend. At his home it was said that he had gone to Virginia for a week's rest.

3. September 16, 1903 New-York Tribune New York, NY
Article from New-York Tribune, September 16, 1903

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Article Text

MAYOR, TRUSTEE, GONE. Missing Since Friday-Leader in Keyport, N. J., Politics. Keyport, N. J., Sept. 15 (Special).-Benjamin B. Ogden, Mayor of this town and a well known lawyer here, has been absent since Friday night. His whereabouts cannot be learned. Rumors that he was on the verge of insolvency began to be circulated as far back as four years ago, but did not receive much credit, generally, and Ogden continued to do a thriving business. He has acted as trustee for a number of large estates, to which he is said to be indebted. It is reported that Ogden had plunged heavily in Wall Street for some time and has been a heavy loser. He is the principal stockholder in and the financial backer of cutlery works here, and it is declared has sunk over $40,000 in the concern. The business has never paid. It is common report that his llabilities amount to over $100,000, and that his assets are practically nothing. His handsome house here is held in his wife's name, and properties belonging to Ogden are held by the People's National Bank of this place to secure his paper, amounting to over $10,000. He was a director in this bank until two weeks ago, when he resigned. His resignation caused a run on the institution, but it came out financially sound. Ogden is serving his second term as postinaster here. He has been the leader in local Republican circles, and was an unsuccessful candidate for Surrogate six years ago. Besides his local office, he maintained one at No. 128 Broadway, New-York, and spent a great deal of his time there. Mayor Ogden's daughter says he has gone South to recuperate from the effects of a continued mental and physical strain.

4. September 16, 1903 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, September 16, 1903

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Article Text

MAYOR OGDEN GONE. A Keyport Pooh-Bah Has Not Been Seen Lately. KEYPORT, N. J., Sept. 16.-Benjamin B. Ogden, mayor of Keyport, postmaster, president of the town commissioners, president of the school trustees and until ten days ago a director in the People's National bank, is missing. He was last seen Friday, Sept. 11. His resignation as a bank director had been demanded and accepted. There had been a run on the bank, which the government examiner had declared within two weeks to be in sound condition. Scores of persons whose inherited estates were in Ogden's hands for settlement had called upon him for statements without obtaining satisfaction. His bondsmen in these transactions and indorsers of his paper were greatly alarmed. Mr. Ogden sold for $400 his handsome pair of horses, carriages and silver mounted harness. He had paid $600 for the harness alone in Norfolk, Va, a few months ago. His naphtha launch he transferred to a personal friend. At his home it was said that he had gone to Virginia for a week's rest.

5. September 17, 1903 Connecticut Western News North Canaan, Salisbury, Canaan, CT
Article from Connecticut Western News, September 17, 1903

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Article Text

Major Ogden Missing. New York, Sept. 16.-The World says this morning that Benjamin J. Ogden, mayor and leading lawyer of Keyport, N. J., has disappeared, leaving debts of $100,000 and small assets, He had in his hands numerous large trust estates for settlement. Ogden was largely interested in as cutlery factory in Keyport and sank thousands of dollars in it. Up to two weeks ago he was a director in the People's National bank. When he resigned there was a run on the bank, which was weathered. Ogden was the leader of the Republican party in that section and was serving a second term as postmaster. There is no clew to his whereabout.

6. September 17, 1903 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, September 17, 1903

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Article Text

OI MAYOR DISAPPEARS basis LEAVING LOTS OF DEBTS Benjamin J. Ogden, of Keyport, N. J., Is Said to Owe $100,000. KEYPORT, N. J., Sept. 16.-Benjamin J. Ogden, mayor and leading lawyer, has disappeared, leaving debts of $100,000 and small assets. He had in his hands numerous large trust estates for settlement. Ogden was largely interested in a cutlery factory in Keyport and sank thousands of dollars in it. Up to two weeks ago he was a director in the People's National bank. When he resigned there was a run on the bank, which was weathered. The bank holds over $11,000 of Ogden's paper, which, it is 191 said, is fully secured. 0 Ogden was a leader of the Republican party in this section and was serving a second term as postmaster. Steps have been taken for his arrest.

7. September 17, 1903 Abilene Weekly Reflector Abilene, KS
Article from Abilene Weekly Reflector, September 17, 1903

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Article Text

Left Many Debts Behind Him. New York, Sept. 16.-The World says to-day: Benjamin J. Ogden, mayor and leading lawyer of Keyport, N. J., has disappeared, leaving debts of $100,000 and small assets. He had in his hands numerous large trust estates for settlement. Ogden was largely interested in a cutlery factory in Keyport and sank thousands of dollars in it. Up to two weeks ago he was a director in the People's national bank. When he resigned there was a run on the bank, which was weathered. The bank holds over $11,000 of Ogden's paper which, it is said, is fully secured. There is no clew as to his whereabouts. Steps have been taken for his arrest.

8. September 24, 1903 Custer County Republican Broken Bow, NE
Article from Custer County Republican, September 24, 1903

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Article Text

awyer Ogden Missing. on York, Sept. 17.-The World says: "Benjamin Ogden, mayor and leading lawyer of Keyport, N.J, has disappeared: leaving debts of $100.000 and small assets. He had in his hands numerous large trust estates for settlement. Ogden was largely interested in a cut ery factory in Keyport and sank thousands of dollars in it. Up to two weeks azo be was a director in the People's Nat oinal bank. When be resigned there was a run on the the bank, which was weathered. The bank holds over $11,000 of Ogden's paper.which, it is said is fully secured.