New Jersey National Bank & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 9912
Charter Number: 9912
Start Date: *
Location: Newark, New Jersey (40.736, -74.172)

Metadata

Model: gpt-5-mini
Short Digest: 044f5971

Response Measures

None

Description

Article describes an investigative inquiry (Davis Committee, Grand Jury) and links that inquiry to a suspension/closing of the bank or its holding company. There is no clear mention of a depositor run; the piece focuses on alleged misconduct, investigation and reorganization, suggesting the bank was suspended and faced closure/receivership. Date of suspension not specified in the excerpt.

Events (1)

1. * Suspension

Cause: Government Action
Cause Details: Davis Committee and Grand Jury investigations into bankers and Bankers Securities led to actions that 'brought about its suspension'; investigation and possible misconduct spurred closure.
Newspaper Excerpt: what was the object the Weinberger calls all the action in connection the Bankers Securities and the bank it owns Weinberger intimates that Elliott's which believed to have started the bank, may have been plotted ... which brought about its suspen-
Source: newspapers

Newspaper Articles (1)

1. July 26, 1929 The Herald Statesman Yonkers, NY

Article from The Herald Statesman, July 26, 1929

Click image to open full size in new tab

Article Text

There are several persons have Elliott Passaic and he was supbeen captive group told him they were hired keep him out the for short Their statements will checked. There will be plenty of work for the jury even they off the liott disappearance until he can The jury inquiry direct outthe evidence by the Senator Davis and Joseph Wolber have criticized the prosecutor's office action the secured their investigation the bankers' securities before this. Acting Prosecutor James M. Dunn, the session of the his intention into that evidence there the link Elliott's disappearance and the of the capiwhich brought about its suspen- Weinberger Center of Probe, The center the investigation the bankers securities Harry Weinberger. former New crimilawyer eminently Jersey banking He probably will the 40 witnesses summoned by Davis. The Davis Committee that had caused the Hobart Service which buy the Hobart $600 Frank had the same day for Then the sold the for $650 Weinberger the Bankers Securities which shares from him for Weinberger said netted about various organization After the Davis Committee inquiry. and the ent time former president. John Stampresident the New Jersey NaBank and Trust reorganized Bankers Security the inquiry, now Nicholas Vecchia, of Newark, for the holding company. Weinberger Eager to Appear Weinberger few before the Grand Jury, waiving times the Grand Jury action with the closing the banks? he was behind the Davis What was the object the Weinberger calls all the action in connection the Bankers Securities and the bank it owns Weinberger intimates that Elliott's which believed to have started the bank, may have been plotted