Article Text
MAPLE SHADE, N. J., October 10 (P).-Tire Maple Shade National Bank failed to open its doors for business today. It was stated the bank remained closed to forestall a run following the closing of two banks at Merchantville.
14089. Maple Shade National Bank (Maple Shade, NJ)
Bank Information
- Episode Type
- Suspension → Reopening
- Bank Type
- national
- Bank ID
- 12428
- Charter Number
- 12428
- Start Date
- October 10, 1931
- Location
- Maple Shade, New Jersey
Metadata
- Model
- gpt-5-mini
- Short Digest
0707d511
Response Measures
None
Receivership Details
- Depositor recovery rate
- 36.1%
- Date receivership started
- 1933-08-23
- Date receivership terminated
- 1938-07-26
- Share of assets assessed as good
- 29.1%
- Share of assets assessed as doubtful
- 57.0%
- Share of assets assessed as worthless
- 13.9%
Description
Bank voluntarily did not open on 1931-10-10 to preclude a run after neighboring Merchantville banks closed; it reopened on 1931-10-14 with the Comptroller finding it sound. No actual depositor run is described.
Events (4)
1.
August 18, 1923
Chartered
- Source
- historical_nic
2.
October 10, 1931
Suspension
- Cause
- Local Banks
- Cause Details
- Directors closed the bank after the closing/takeover of two neighboring Merchantville banks to forestall a possible run; closure was voluntary rather than government-ordered.
- Newspaper Excerpt
- Owing to the closing of our neighbor banks, the board of directors voted not to open this bank today.
- Source
- newspapers
3.
October 14, 1931
Reopening
- Newspaper Excerpt
- The Maple Shade National bank reopened today ... the closing last Saturday had been a voluntary measure ... reopened ... by permission of the controller of currency, who found the bank in a perfectly healthy condition.
- Source
- newspapers
4.
August 23, 1933
Receivership
- Source
- historical_nic
Newspaper Articles (8)
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Article Text
CLOSING OF JERSEY BANK SHUTS DOORS OF 2 OTHERS Merchantville, N. J., Oct. 10.Three neighboring banks, two here and one in Maple Shade, closed their doors this morning within a half hour of each other. The Merchantville Trust Company, the first to announce its closing, was taken over by the State because its assets had been impaired by the market value shrinkage of its securities. Closing of this bank was given as the reason for a similar action by its rival, the National Bank and Trust Company, of Merchantville. A few minutes before its scheduled hour for opening, the Maple Shade National Bank posted this "Owing to "the closing of our neighbor banks, the board of directors voted not to open this bank today." John J. Parker, president of the last named institution, said the move had been taken to preclude a possible run on the bank, for which it was not prepared.
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CLOSING OF JERSEY BANK SHUTS DOORS OF 2 OTHERS Merchantville, N. J., Oct. 10.Three neighboring banks, two here and one in Maple Shade, closed their doors this morning within a half hour of each other. The Merchantville Trust Company, the first to announce its closing, was taken over by the State because its assets had been impaired by the market value shrinkage of its securities. Closing of this bank was given as the reason for a similar action by its rival, the National Bank and Trust Company, of Merchantville. A few minutes before its scheduled hour for opening, the Maple Shade National Bank posted this notice-"Owing to the closing of our neighbor banks, the board of directors voted not to open this bank today." John J. Parker, president of the last named institution, said the move had been taken to preclude a possible run on the bank, for which it was not prepared.
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Article Text
CLOSING OF JERSEY BANK SHUTS DOORS OF 2 OTHERS Merchantville, N. J., Oct. 10.Three neighboring banks, two here and one in Maple Shade, closed their doors this morning within a half hour of each other. The Merchantville Trust Company, the first to announce its closing, was taken over by the State because its assets had been impaired by the market value shrinkage of its securities. Closing of this bank was given as the reason for a similar action by its rival, the National Bank and Trust Company, of Merchantville. A few minutes before its scheduled hour for opening, the Maple Shade National Bank posted this notice-"Owing to the closing of our neighbor banks, the board of directors voted not to open this bank today." John J. Parker, president of the last named institution, said the move had been taken to preclude a possible run on the bank, for which it was not prepared.
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Three N. Jersey Banks Suspended banks here and in the town of Maple Shade suspended Saturday The Merchantville Trust Company was the first pension, notice stating that been taken over the State of and Insurance. from Trenton, that the bank had been taken over because its assets had been paired the shrinking of the marvalue of its securities followed. Half an hour before the usual opening of the First National Bank and Trust Company of Merchantville, notice was placed on its stated that the rectors had not open, cause of the closing of the trust company. minutes before opening time of the Maple Shade National Bank, notice appeared doors stating that "owing to the closing of our neighbor banks board voted not to open this bank John president, stated that the bank sound that its assets had not been but that he prepared to withstand heavy run which regarded certain since the closing of the neighboring town's banks.
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meeting that and one, these and will also their normal demake whenever they hear make still stronger benefit to citigreater further, use every endeavor to these banks. the would be to our Would Dissipate Meter defear wood that the money George D. Hassett, rector of Arthur the deposit the ough's banks usual. church Whidden CollingsGeorge cashier of bank, They the the banks. declared that excellent the shape, citing the fact New Jersey State tire $150,000 issue of the Roy who arranged was an when briefly, in Coland Declares Trust The audience Charles McQuilken, cashier trust who declared instiHe this the one of whom is depositor the bank. trouble began with the closof the Heights last run the lost $350,000 in deposits and the new couldn't be averted. was to Dr. Theophilus W. Madden. given president of who was to attend the meetdue illness more than 1000 the closed bank, named committee interview the officers state officials the the necessary committee includes: Welss, Rev. Harold Laird. Roy Taylor, Alexander CotzMayor Joseph Van Meter. Ferdinand Kloidt, H. Pietrich Moncrief and Harry Woods. committee will meet at the high school receive pledges from depositors return their funds the should 1000 obtained last "There no question that the Maple sound financial Parker, its president, declared. More than depositors bank agreed with Parker letter of the institution and the soundness of its The signers included business men, teachers and other individuals were led Hugh Dunn, treasChester township. the Maple Shade Bank. hereby approve the the board directors your bank in closing the the bank conserve its assets protect all depositors. feel that you, ident, together board directors, always affairs the Maple Shade National Bank in and conservative manner, extending every effort fulfill the primary of protecting its deposi- therefore affix our signatures the the bank and the soundness its assets, feeling assured the national thorities confirm this belief within action the bank made through notice which appeared door this morning. Harry W. Bauer, cashier, the closed protect deposloyal decided on this action prevent possible Banking conditions are uncertain and depositors are uneasy. We
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JERSEY BANK REOPENS MAPLE SHADE, N. Oct. 14. (A)The Maple Shade National bank reopened today with the announcement by John H. Parker, president that the closing last Saturday had been a voluntary measure taken in anticipation of run after two banks in Merchantville had closed. The institution was reopened, Mr. Parker said, by permission of the controller of currency, who found the bank in a perfectly healthy condition. PENS FOR MATAWAN SWANS MATAWAN, Oct. pens are being erected on Lakes Matawan and Lefferts to protect the swans during the winter. The boro now owns four swans, three having been purchased by the boro and two by Mayor Christian Heuser Two of the swans are on Lake Matawan and two on Lake Lefferts. Of the five swans purchased, one has died.
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They Also Need national bank Maple Shade, The closed last little town in Camden county, the president became Saturday because banks closed in alarmed when Yesterday the Maple chantville, nearby. Shade bank re-opened, the comptroller of the currency finding to be in fectly healthy condition. the First National bank in A week ago Ocean City was closed almost immediately officer connected with because an committed suicide. Unoffimind and the bank is sound cial reports Ocean City business men tell us they look for to in few days. re-open Yesterday announced that several small banks in and positors in about Philadelphia, closed during the brained excitement in our usually ative and calm Quaker City, would receive "dividend" on their total deposits of per by authority of the state banking That certainly looks as department. there never anything wrong with the for everybody wanted all their banks, money once from any bank would almost impossible task for the bank, and if the latter was to pay them 20 cent one crack we, for would that such bank was not say weak miraculously for normal times. In other words, if the banks in and about Philadelphia can now. although closed. to pay their liabilities in lumps fifth time, even the face of falling securities market dull estate demand, we should and that the occasion for closing their doors say never existed. Now, all this leads to but one Too the country's bankers sion: many have been seeing ghosts and goblins Instead of the public losing its head and making runs on the banks, appears been bankers who have shied at have their shadows, peered under beds and chairs in unholy fear of mice. when our august financial And, men signs of delirium, going about and spreading the in whispering groups the ordinary run of human beings gossip, of course to wonder what and follow the fire wagons. What the country needs more thing else right now, sedative for