14153. State Bank (New Brunswick, NJ)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
*
Location
New Brunswick, New Jersey (40.486, -74.452)

Metadata

Model
gpt-5-mini
Short Digest
a76ba604

Response Measures

None

Description

Articles (1901) describe the State Bank of New-Brunswick as a defunct institution that 'went out of business' and was wound up with a receiver (Col. John W. Newell). No run is described; the coverage concerns old unsigned/uncut notes and stolen plates used to pass bogus bills in 1901. OCR issues corrected (e.g., New-Brunswick). Exact suspension date not given in the articles.

Events (2)

1. * Receivership
Newspaper Excerpt
The plates were originally the property of the late Colonel John W. Newell, receiver of the State Bank, and were kept by him as souvenirs... He was at that time appointed receiver, and wound up the affairs of the institution.
Source
newspapers
2. * Suspension
Cause
Voluntary Liquidation
Cause Details
Bank 'went out of business several years prior to the Civil War' and later 'went into liquidation'; Col. John W. Newell was appointed receiver and wound up the affairs of the institution.
Newspaper Excerpt
The bills are not counterfeit, but are simply worthless, as the bank against which they were issued suspended some time ago.
Source
newspapers

Newspaper Articles (3)

Article from New-York Tribune, August 21, 1901

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Article Text

A MILLION IN BOGUS NOTES THAT AMOUNT SUPPOSED TO HAVE BEEN MADE FROM PLATES OF DEFUNCT BANK-SEVERAL ARRESTS. San Francisco, Aug. 20.-Secret Service agents have arrested three men here on the charge of rassing notes printed from the stolen plates of the defunct State Bank of New-Brunswick, N. J. The suspected men are Frank J. Perry, William Hogan and E. W. Smith. The last named has been for eight years chief clerk of the Life Saving Service in this city. Perry, who has been under arrest a week, gave information on which taken. was that the It discovered Hogan and only Smith recently were bank's plates were that amount possibly $1,000,000 will still not in existence, cover the and of bogus notes put in circulation since the institution went out of business. No trace of the plates has yet been secured. Washington, Aug. 20.-The arrest of Perry Hogan and Smith, at San Francisco, on the charge of passing notes printed from the original plates of the State Bank of New-Brunswick, N. J., which went out of business several years prior to the Civil War, disclosed the fact that their source of at N. J. NewNew-Brunswick_ supply The was officials Jacob at Weigel, were and was arin the rested York and informed, $17,300 to-day notes Weigel were obtained, together with several copper plates of different denominations. New-Brunswick, N. J., Aug. 20 (Special).-Two attachés of the New-York department of the Secret a set of the searching United States for Service plates were of here the to-day banknotes of the old State Bank of this city. Their was that a set of the to and that, if would information be found here, found, plates they was lead to the discovery of the source of the notes passed in Canada, California and other places as United States currency. The plates were found without difficulty. They were in the possession of Adam Ludwir, a junk dealer, in Richmond-st., but he accounted for their history and possession satisfactorily. The plates were originally the property of the late Colonel John W. Newell, receiver of the State Bank, and were kept by him as souvenirs, together with a large number of the notes of the old bank. After nis death a few years ago the plates and notes were purchased, with other junk, by Ludwig. He disposed of most of the notes to local historians and collectors, but retained the plates as curiosities. He made no secret of owning them, and never opened the original sealed wrappers in which they were inclosed when the bank's receiver took possession of them. Ludwig was at first unwilling to give up the plates, and the officers had no right to seize them, as they were not counterfelts of United States money and it was no infraction of the Federal law to have them in possession. The Secret Service officers purchased the plates from Ludwig, representing to him that their appearance so closely resembled those from which United States notes are printed that it would be better to destroy them. Notes of this old bank have recently appeared in circulation in several parts of the United States, and arrests, it is reported. have been made at San Francisco and Montreal.


Article from The Wichita Daily Eagle, August 21, 1901

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Article Text

GRAFTERS IN COMB you Arrests Are Made in Frisco and New York for Passing Bad Notes, San Francisco, Cal, Aug. 20.-Secret service officers have arrested in this city, three men accused of passing bank notes purporting to be issued by the State bank of New Brunswick, N. J., an institution leng defunct. The plates had never been destroyed and in the hands of some crimInals furnished over one million notes in denominations from $1 to $20, which have been distributed all over the United States. On information furnished by Frank Perry, who was captured a week ago, the officers have just taken into custody William Hogan and E. W. Smith. The latter, according to Perry, in the leader of the gang and he has been for eight years chief clerk of the federal life saving service In this city. He has been released on ball. but the other two men are in jall. Other arrests are expected to follow shortly. New York, Aug. 20.-Government secret service officers tonight visited New UBrunswick, N. J., and obtained possession of the plates and nearly $200,000 (face value) of the notes of the Old State Bank 1 New Brunswick. The notes were not reprinted from the old plates. They were genuinely printed 30 years or more ago by the bank Itself, but were never signed by the president. Lax methods in winding up the affairs of the bank 28 years ago seem to have been responsible for the alleged big swindle in other states with the bank notes as a basis. The bank went into liquidation days ago, Col. John Newell was at that time appointed receiver, and wound up the affairs of Lne institution. He has since died. In the course of his operations he sold the old note plate to Adam Ludwig, a junk dealer in New Brunawick. The sale was as old metal. The junk dealed also bought the waste paper and all the junk out of the bank. In the waste paper he found about half a million dollars worth of notes. These were in the origit Inal sheets and uncut and unsigned. These gotes he sold or gave to and Jacob Weigel, who is a collector of coins and old notes and who has a. very larget collection, one ot the most extensive Inf the country. He kept them some years and then began to dispose of them to certain dealers. He sold man yot them to reputable dealers In all parts of the country. He received nominal sums for his sales. Among others he sold to Greenberg & Smith of San Francisco. This firm Mry Wiegel says afterwards sent him large orders for the notes, and In all purchased some $175,000 worth, counting their face value. The plates remained in the DOB4 sension of the jupak dealer. Tonight secret service agents saw Mr. Weigel. They were natisfied with his explanation and be gate them what be had remaining of the notes, except what be kept for his collective. He was not arrested. Ludwig, the junk man, turned over the plates. These were will in the package in which they were wrapped after being last used. The sents were unbroken, They hore the seal of the bank and sled that of the receiver, and there could be no question that they have never been used since the bank ran 0 the lot. Cleveland, 0., Aug. 20.-Senator and Mrs. Hanna, accompanied by their two daugh+ term. the Misses Matel and Ruth, left Cleveland today on the steamer, North+ westfl, for Lake Besr. Bault Ste Marie, Mich., where the family will spend & for days at the Hanna summer cottage. Mr. Hanna will take an active part % the formal opening et the Republican state campsign which will probably take place at Delaware, on Sept. 11, Battleship Town Leaves for Passms. Washington, Aug. -The savy an partment has been informed of the sellIng of the battleship Towa for Panama. She will stop at Acupale for cost, The distance from Ban Francisco to Passma as 1,271 miles and the trip will occupy about twelve days.


Article from The Indianapolis Journal, August 23, 1901

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Article Text

# Worthless Bills Afloat. The federal authorities of this city, as well as the banks and business houses, are watching for worthless bills on the State Bank of New Brunswick, N. J., in order that they may be gathered up and destroyed. The bills are not counterfeit, but are simply worthless, as the bank against which they were issued suspended some time ago. Some of the bills have found their way into Indiana, and several have been found in this city.