A. M. Reynolds & Co.

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: September 1, 1875*
Location: Newark, New Jersey (40.736, -74.172)

Metadata

Model: gpt-5-mini
Short Digest: f682773f

Response Measures

None

Description

A. M. Reynolds & Co. was a private banking house that failed (suspended) in fall 1875. The 1878 article reports a dividend to creditors while the firm remains in settlement under its failure/receivership — there is no indication the bank resumed normal banking operations.

Events (2)

1. September 1, 1875* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Firm failure/insolvency leading to suspension of the banking house.
Newspaper Excerpt: In the fall ot 1875 the firm of A. M. Reynolds & Co., of Newark, failed, making the first suspension of a banking house in Newark for eighteen years.
Source: newspapers

2. October 5, 1878 Receivership

Newspaper Excerpt: Yesterday, after three years of waiting, the personal creditors of Mr. Reynolds were summoned together, and to their surprise a dividend of sixty per cent was declared to them and one of three per cent to the creditors of A. M. Reynolds & Co.; it was further stated that the personal creditors would probably be paid in full and the others would receive another dividend.
Source: newspapers

Newspaper Articles (1)

1. October 5, 1878 The New York Herald New York, NY

Article from The New York Herald, October 5, 1878

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Article Text

PAYING A DIVIDEND. In the fall ot 1875 the firm of A. M. Reynolds & Co., of Newark, failed, making the first suspension of a banking house in Newark for eighteen years. The failure was telt severely by the poorer classes. and at one time there were violent demons rations against the head of the firm. Yesterday, after three years of waiting, the personal creditors of Mr. Reynolds were summoned together, and to their surprise a dividend of sixty per cent was declared to them and oue of three per cent to the creditors of A. M. Reynolds & Co. It was further stated that the personal creditors would probably be paid in full and the others would receive another dividend. There was mucb jubilation over the result.