First National Bank - Perth Amboy, NJ

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 5215
Charter Number: 5215
Start Date: August 8, 1899
Location: Perth Amboy, New Jersey (40.507, -74.265)

Metadata

Model: gpt-5-mini
Short Digest: 018034cf

Response Measures

None

Description

Article (New-York Tribune, 1899-08-09) announces plans to reopen the First National Bank of Perth Amboy after an earlier closure prompted by an embezzlement. No run or depositor panic is described; closure appears due to bank-specific adverse information (embezzlement). Reopening planned within two weeks of the article date.

Events (4)

1. August 8, 1899 Reopening

Newspaper Excerpt: The First National Bank of Perth Amboy has rented the Haney Building ... and the announcement is made that the institution will be opened for business within two weeks.
Source: newspapers

2. August 23, 1899 Chartered

Source: historical_nic

3. October 29, 1937 Voluntary Liquidation

Source: historical_nic

4. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank had been affected by an embezzlement that required city action and likely led to its temporary closure.
Newspaper Excerpt: PLANS FOR THE OPENING-ACTION BY THE CITY MADE NECESSARY BY THE EMBEZZLEMENT
Source: newspapers

Newspaper Articles (1)

1. August 9, 1899 New-York Tribune New York, NY

Article from New-York Tribune, August 9, 1899

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Article Text

NEW JERSEY NEWS. THE NEW PERTH AMBOY BANK. PLANS FOR THE OPENING-ACTION BY THE CITY MADE NECESSARY BY THE EMBEZZLEMENT Perth Amboy, Aug. 8 (Special).-The First National Bank of Perth Amboy has rented the Haney Building, at No. 110 Smith-st., and the announcement is made that the institution will be opened for business within two weeks. The building is a new one, with a frontage of twenty-five feet and a depth of seventy-five feet, and is two stories high. The contract for furnishing It has been given out, and the present tenant, who has occupied it only a few months, is moving out. Harry Conard has resigned his place as cashier of the Lehigh Valley Coal Company, and he will enter upon his duties as an employe of the bank to-morrow. The city of Perth Amboy last night adopted a resolution providing for the issue of judgment bonds to the amount of $15.000, to run twenty years and bear interest at the rate of 4 per cent. This was done in order to be able to meet the claims of the contractors engaged in erecting a new high school building for the city, Contracts thus far signed aggregate $15,000. The money to pay these claims and complete and furnish the building. was in the Middlesex Bank. It will be necessary for those doing the work to obtain judgments against the city before they can secure their money. Three bids were received for the $40.000 of tax arrearage bonds to be issued to meet present needs. They were as follows: Briggs, Todd & Co., uremium of $1,700, E. C. Jones & Co., 103.10, and Rudolph. Kleybolte & Co., 101.255, all of the bide including accrued interest. The Free Library Association. through its trustees, asked the Aldermen for aid, as all of its funds were in the bank. The sum of $300 was or dered to be paid to the trustees.