Franklin Trust Company - Paterson, NJ

Bank Information

Episode Type: Suspension → Reopening
Bank Type: trust company
Start Date: March 1, 1933*
Location: Paterson, New Jersey (40.917, -74.172)

Metadata

Model: gpt-5-mini
Short Digest: 69524f99

Response Measures

None

Description

Article (The News, Paterson NJ, 1933-03-16) lists the First State Bank of Scotch Plains among state-supervised banks certified to re-open on March 16, 1933. It implies the bank had been closed under state supervision (banking holiday) and is now resuming operations; no run is mentioned.

Events (2)

1. March 1, 1933* Suspension

Cause: Government Action
Cause Details: Closed earlier under state supervision/banking holiday; part of statewide bank closures and supervision prior to re-opening
Newspaper Excerpt: Sixty-seven Jersey state banks were authorized to re-open... the First State bank of Scotch Plains
Source: newspapers

2. March 16, 1933 Reopening

Newspaper Excerpt: additional state supervised banks were re-open for business today... the First State bank of Scotch Plains
Source: newspapers

Newspaper Articles (1)

1. March 16, 1933 The News Paterson, NJ

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Article Text

Nine More Banks Open in State Trenton, March 16 additional state supervised banks were re-open for business today. The follows: Essex State bank. Livingston. and Salvatore D'Auria Sons Newark. Union Trust Hillside, the First State bank. of Scotch Scotch Plains. Passaic Bank and Trust company, and the Franklin Trust company. both of Paterson. Bank of Metuchen. Metuchen. Park Title Guaranty and Trust Bergen Cliffside Park. Ocean bank, Tuckerton. Sixty-seven Jersey state banks were authorized to re-open Tuesday morning, and ninety-four were permitted to resume business yesterday The nine additional banks certified for re-opening following the banking his staff and officials of the banks. 198 banks under state supervision. With nine There authorized to resume business today, the number which are maining closed