14270. Middlesex County Bank (Perth Amboy, NJ)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1899*
Location: Perth Amboy, New Jersey (40.507, -74.265)

Metadata

Model: gpt-5-mini
Short Digest: 81f4a4c9

Response Measures

None

Description

The Middlesex County Bank is repeatedly described as wrecked (by its cashier George N. Valentine in 1899) and has a receiver (Edward S. Campbell) pursuing foreclosure actions 1903–1905. There is no mention of depositor runs in these articles. The sequence indicates an earlier suspension/failure resulting in a receivership and permanent closure. Dates of initial wreck/suspension are given in text as 1899; later articles (1903–1905) concern receiver actions and foreclosure suits.

Events (7)

1. January 1, 1899* Receivership

Newspaper Excerpt: the Middlesex County Bank, at Perth Amboy, which was wrecked in 1899 by George N. Valentine, its cashier.
Source: newspapers

2. January 1, 1899* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank was wrecked in 1899 by its cashier George N. Valentine (implying embezzlement/illegal acts leading to failure).
Newspaper Excerpt: the wrecked Middlesex County Bank
Source: newspapers

3. August 26, 1903 Other

Newspaper Excerpt: Edward S. Campbell, receiver of the Middlesex County Bank, of Perth Amboy, has started a suit ... to foreclose a mortgage held by him as receiver against the Perth Amboy Shipbuilding and Engineering Company.
Source: newspapers

4. December 1, 1903 Other

Newspaper Excerpt: Edward S. Campbell, receiver of Middlesex County Bank, of Perth Amboy, has started a suit in the Court of Chancery today to foreclose a mortgage held by him as receiver...
Source: newspapers

5. February 27, 1904 Other

Newspaper Excerpt: The attorneys for J. S. Campbell, receiver for the Middlesex County Bank, have published a notice ... Manufacturers' Trust Company appear ... to plead to a bill of complaint to foreclose three mortgages...
Source: newspapers

6. November 23, 1904 Other

Newspaper Excerpt: testimony for the defense was taken in the suit brought by Edward S. Campbell, as receiver of the Middlesex County Bank of Perth Amboy, for the foreclosure of three mortgages...
Source: newspapers

7. July 3, 1905 Other

Newspaper Excerpt: A decree establishing the validity of mortgages held by the wrecked Middlesex County Bank for $49,000 ... was signed by Vice-Chancellor Pitney ... receiver, Edward S. Campbell ... who died yesterday ...
Source: newspapers

Newspaper Articles (10)

1. August 26, 1903 Perth Amboy Evening News Perth Amboy, NJ

Article from Perth Amboy Evening News, August 26, 1903

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Article Text

Asks for Receiver of the Shipbuilding Plant in this City-Assets of the Company. COMPLICATE MATTERS. Willard Voorhees takes Charge on Application of Sherrerd Depue Representing Receiver Campbell of the Bank Pennsylvania Firm which Furnished Steel is also After the Plant. Another complication of the affairs of the Perth Amboy Shipbuilding and Engineering Company was added yesterday when Vice-Chancellor Stevens, in Chancery Chamber, at Newark, signed an order appointing Willard Voorhees receiver, on the application made by Sherrerd Depue, counsel for Edward S. Campbell, receiver of the Middlseex County Bank, of Perth Amboy. Mr. Depue told the court that among the assets of the bank were two mortgages for $30,000 each and one for $75,000, given by Hugh Ramsay, the former owner of the company, who died in April, 1900, to secure $49,000 in notes which are also among the assets of the bank. Mr. Campbell wishes to foreclose the mortgages. Mr. Voorhees opposed the application, saying that it would be disastrous at this time to begin the suits, as the concern has tie government and a large company to deal with. The company 18 constructing two tugs of the government, and the schoolship Young America for a private concern. Mr. Depue, in reply to the objections of Mr. Voorhees, said that he had been informed that these contracts could be completed in five or six months, and that it would not be possible to bring the property to sale under the suits before that time. The vice-chancellor said that he would permit Receiver Campbell to bring the suits on the understanding that there would be no sale of the property without the further order of the court. George H. Speers, on behalf of the Tide Water Steel Company, of Chester, Pa., asked permission to file liens against the three vessels for supplies and materials furnished. He said his company had furnished steel castings for the vessels to the value of $12,000. On motion of Mr. Voorhees the vicechancellor postponed the consideration of Mr. Speer's application for two weeks.

2. August 26, 1903 New-York Tribune New York, NY

Article from New-York Tribune, August 26, 1903

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Article Text

W. VOORHEES NAMED AS RECEIVER. To Act for Perth Amboy Shipbuilding Company. Willard Voorhees, of New-Brunswick, was yesterday confirmed at Newark as receiver for the Perth Amboy Shipbuilding Company. Sherrerd Depue, counsel for Edward S. Campbell, receiver for the wrecked Middlesex County Bank, of Perth Amboy, made the application, and he also asked for an order to begin foreclosure suits on three mortgages and to make Mr. Voorhees a party to the suit. Mr. Depue told the courts that two of the mortgages were for $30,000 each and the third was for $75,000, and they were given to the bank by Hugh Ransley, former owner of the shipbuilding plant, to secure loans on notes aggregating $49,000, which notes are among the assets of the bank. Mr. Voorhees opposed this application, saying that foreclosure suits would be disastrous to the shipbuilding concern. which is building two vessels for the national government, the vessels to be completed in five months. The Vice-Chancellor granted Mr. Depue the order asked for, with the understanding that there will be no sale of the property without a further order from the court. George H. Speers then asked leave to file a lien for $12,000 against the vessels in the Perth Amboy shipyard on behalf of the Tide Water Steel Company, of Chester, Penn., for steel castings used in the vessels. The Vice-Chancellor postponed the hearing of this application for two weeks.

3. December 1, 1903 Perth Amboy Evening News Perth Amboy, NJ

Article from Perth Amboy Evening News, December 1, 1903

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Article Text

Special to the Evening News. Trenton, Dec. 1:-Edward S. Camp. bell, receiver of Middlesex County Bank, of Perth Amboy, has started a suit in the Court of Chancery today to foreclose a mortgage held by him as receiver against the Perth Amboy Shipbuilding and Engineering Company, of Perth Amboy. It appears that the late Hugh Ramsay was in-

4. December 1, 1903 Perth Amboy Evening News Perth Amboy, NJ

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A SUIT AGAINST SHIPBUILDING CO. debted to the defunct bank for about Special to the Evening News. $49,600 and gave a mortgage to the Trenton, Dec. 1:-Edward S. Campbank to secure the loan. Sometime bell, receiver of Middlesex County afterward Ramsay sold the lands covBank, of Perth Amboy, has started a ered by the mortgage to the Ship. suit in the Court of Chancery today building company, the latter assuming the mortgage. The Shipbuilding to foreclose a mortgage held by him company was put into the hands of as receiver against the Perth Amboy the receiver some time ago and has Shipbuilding and Engineering Comfailed to pay the interest on the pany, of Perth Ambov. It appears that the late Hugh Ramsay "was in- mortgage.

5. December 2, 1903 Perth Amboy Evening News Perth Amboy, NJ

Article from Perth Amboy Evening News, December 2, 1903

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RECEIVER WANTS CITY . TO KEEP HANDS OFF. Mr. Campbell in His Petition Filed Yesterday Asks Court to Prevent City of Perth Amboy Interfering in the Matter in Any Manner--Shipbuilding Company Indebted to Defunct Bank. Special to the Evening News. Trenton, Dec. 2:-Edward S. CampPASSENGERS bell, receiver of the Middesex County Bank in the suit filed yesterday in the court of chancery to foreclose the IN DARKNESS mortgage held by the bank against the Perth Amboy Shipbuilding and Engineering company, as told in the News yesterday, petitions the court to Lights Out at the Central Station prevent any interference on the part of the city of Pertn Amboy in the and the People Grope proceedings because of its interest in the mortgaged lands. About. The city's interest in the land nov occupied by the shipbuilding plant, according to Mr. Campbell's declaraSTRUCK MATCHES TO SEE tion, dates back several years. When the late Hugh H. Ramsay, who gave the mortgage to secure loans advanced Later Candles and Two or Three Lamps by the bank on several* promisory were Provided, but They Afforded Little notes, desired to extend his works, he got the city to vacate what was then Relief-Men Had Hard Time Making known as Front street, upon agreement that should the enterprise in Change-Hold a Burning Match While which he was then engaged, fail, the Fishing into Pockets. street should revert back to the city All the subsequent mortgages by Ramsay, according to the The Central Railroad passenger defor the suit, included the pot was in darkness last night. The the land owned by the cit machine which makes acetylene gas action which Receiver refused to work and, after the explowhile it was not altog sion which occurred there some time within the knowledg ago, in which two were burned while tie of Perth Ambo investigating the cause of the lamps C not burning, no one was willing to any tackle the job this time, FO the lights have tt simply stayed out. subject The only permanent light about the

6. February 27, 1904 Perth Amboy Evening News Perth Amboy, NJ

Article from Perth Amboy Evening News, February 27, 1904

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Article Text

In Chancery Court. The attornevs for J, S. Campbell, receiver for the Middlesex County Bank, have published a notice that Edith Ramsay, wife of Oliver Ramsay, and the Manufacturers' Trust Company appear in the Court of Chancery April 25 to plead to a bill of complaint to foreclose three mortgages made on lands in this city by Hugh Ramsay. The trust company mentioned holds a mortgage on certain lands made to them by the United States Wood Preserving Company. Read the classified ads. on page 5

7. February 27, 1904 Perth Amboy Evening News Perth Amboy, NJ

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IN CHANCERY OF NEW JERSEY To EDITH RAMSAY AND MANUFACTURERS TRUST COMPANY By virtue of an order of the Court Of Chancery of New Jersey. made on th day of the date hereof, in a cause wheren Edward S. Camphell, Receiver of Middle sex County Bank is Complainant, an you and others are defendants, you ar equired to appear and plead, answer 0 lemur, to the said complainants' bill 01 c omplaint on or tefore the twenty-fifth day if April next, or in default thereof, such decree will be made against you as the Chancellor shall think qu'table and just. The said bill is filed to foreclose three several mortgages made in his lifetim. by Hugh Ramsay. now deceased, and Sarah J. L. Ramsay his wife, to the Midesex County Bank, dated respectively March third, eighteen hundred and ninty. two, June tenth, tigl teen hundr d and ninety-five,' and Decen ber fourth, eight een hundred and ninety-tive. on lands it the City of Perth Amboy, in the County of Middlesax and in the State of New Jersey. And you, Edith Ramsay, are made defendant because you are the wife of Oliver W. Ramsay, oue of the heirs at law of Hugh Ramsay, deceased, who di d intestate seized of the said premises. by virtue whereof you may claim to have some interest in the said premises. Anc you, Manufacturers' Trust Company, are made defendant, because you bold a eertain mortgage upon part of said land and premises made to you by the United States Wood Preserving Company, and hearing date on the ninth day of July nineteen hundred and two, and because you also hold a deed of assignment dated August sixth, nineter n hundred and two, made to you by the United States Wood Preserving Company, by which deed of assignment said last named company as igned and transferred to you it. interest in a certain indenture of lease of part of the said mortgaged lands and 1 remises, bearing date July fourteenth, eighteen hundred and ninety-seven, and made by the said Hugh Ramsay to the New York Wood Vulcanizing Company by deed of assignment dated April fifth, nineteen hundred. by virtue whereof you may claim to have some interest in the said mortgaged lands and premises. Yours truly, LINDABURY, DEBUE & FAULKS, Solicitors for Complainant, 763 Broad Street. Newark, N. J. Dated February 23. 1904. 5147-2 27. 3-5.12 19.24.

8. November 23, 1904 Perth Amboy Evening News Perth Amboy, NJ

Article from Perth Amboy Evening News, November 23, 1904

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BANK'S SUIT ON MORTGAGE. Complainant Rested His Case and Defence IS Being Heard. Before Vice-Chancellor Pitney, yesterday, in Newark, testimony for the defense was take in the suit brought by Edward S. Campbell, as receiver of the Middlesex County Bank of Perth Amboy, for the foreclesure of three mortgages given to that institution bv the Inte Hugh Ramsay, as security, it is alleged for loans made to him on promissorv notes. Shorrerd Depue, counsel for the complainant, rested his case Monday afternoon after having put on the stand Uriah B. Watson, former president: James T. Watson, James L. Kearny, Patrick Convery and Edward Pierce, director of the Middlesex County Bank, all of whom testified that the loans in dispute had been made by the bank to Mr. Ramsay, and that the three mortgages had been given as security for the loans. Counsel for the defense contend that there is a discrepancy of $24,600 in the receiver's account, and that if this sum be credited to Mr. Ramsay. it will leave only about $25,000 due under the three mortgages.

9. July 3, 1905 The Jersey City News Jersey City, NJ

Article from The Jersey City News, July 3, 1905

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MORTGAGES MADE VALID. A decree establishing the validity of mortgages held by the wrecked Middle sex County Bank for $49,000 on property located in Perth Amboy, was signed by Vice-Chancellor Pitney this morning or motion of Sherrard Depew, counsellor for the Receiver, Edward S. Campbell of New Brunswick, who died yesterday at Lake George of blood poisoning. The bank is the one wrecked by George W. Valentine, who has just completed a short term in prison.

10. July 4, 1905 New-York Tribune New York, NY

Article from New-York Tribune, July 4, 1905

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BANK MORTGAGES AN ASSET. Vice-Chancellor Pitney Decides That They Must Be Taken Up. Vice-Chancellor Pitney gave a decision yesterday at Jersey City in relation to the mortgages worth $49,000 found among the effects of the Middlesex County Bank, at Perth Amboy, which was wrecked in 1899 by George N. Valentine, its cashier. Mr. Pitney said the mortgages must be collected by the receiver and the funds used as an asset of the bank to pay the creditors. The lawyers said that no further action could be taken until a new receiver could be appointed. as Edward F. Campbell, of NewBrunswick, who had been receiver, died at Lake George on Sunday.