Newark Savings Institution

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: January 1, 1877*
Location: Newark, New Jersey (40.736, -74.172)

Metadata

Model: gpt-5-mini
Short Digest: 7b25b8f0

Response Measures

None

Description

The Newark Savings Institution failed in 1877 and has been in receivership since then. The 1894 article reports the receiver (George Wilkinson) paying another small dividend; no run is mentioned. Classified as a suspension/closure with receivership.

Events (2)

1. January 1, 1877* Receivership

Newspaper Excerpt: the Newark Savings institution, which failed in that year [1877], has announced that there will be another small dividend payable to depositors within a short time. When the bank failed there were a few assets in sight, but the receiver has paid one hundred cents on the dollar, and the next dividend will be a portion of the interest which would have been paid depositors had the bank not failed. (report refers to receiver engaged since 1877).
Source: newspapers

2. February 14, 1894 Other

Newspaper Excerpt: Receiver George Wilkinson, who has been engaged since 1877 in winding up the affairs of the Newark Savings institution ... has announced that there will be another small dividend payable to depositors within a short time.
Source: newspapers

Newspaper Articles (1)

1. February 14, 1894 The Evening Herald Shenandoah, PA

Article from The Evening Herald, February 14, 1894

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Article Text

A Successful Receiver. NEWARK, N. J., Feb. 14. - Receiver George Wilkinson, who has been engaged since 1877 in winding up the affairs of the Newark Savings institution, which failed in that year, has announced that there will be another small dividend payable to depositors within a short time. When the bank failed there were a few assets in sight, but the receiver has paid one hundred cents on the dollar, and the next dividend will be a portion of the interest which would have been paid depositors had the bank not failed.