State Savings Bank - Trenton, NJ

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: June 28, 1879
Location: Trenton, New Jersey (40.217, -74.743)

Metadata

Model: gpt-5-mini
Short Digest: c3e68948

Response Measures

None

Description

Article (dated June 28 dateline) reports the receiver (E. Mercer Shreve) has closed up affairs, filed final accounts in Chancery, and a dividend ordered to be paid to depositors after the earlier suspension. No run is described; receiver/closure following suspension is evident. The bank's troubles involved misconduct (J.R. Freese sent to State Prison), so cause classified as bank-specific adverse information.

Events (2)

1. June 28, 1879 Receivership

Newspaper Excerpt: The affairs of the State Savings Bank of Trenton ... have finally been closed up by E. Mercer Shreve, the Receiver. His final accounts have been filed in the Court of Chancery, and Chancellor Runyon has approved them and ordered the payment of a dividend ... The Receiver will begin to pay out on Thursday next.
Source: newspapers

2. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank misfortunes and misconduct: J.R. Freese sent to State Prison related to the bank's failure.
Newspaper Excerpt: a dividend of 10} per cent. upon all moneys due depositors in the bank at the time of the suspension.
Source: newspapers

Newspaper Articles (1)

1. June 25, 1879 The Lambertville Record Lambertville, NJ

Article from The Lambertville Record, June 25, 1879

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Article Text

TRENTON, N.J., June 28.-The affairs of the State Savings Bank of Trenton, the misfortunss of which carried J.R. Freese to the State Prison, have finally been closed up by E. Mercer Shreve, the Receiver. His final accounts have been filed in the Court of Chancery, and Chancellor Runyon has approved them and ordered the payment of a dividend of 10} per cent. upon all moneys due depositors in the bank at the time of the suspension. The Receiver will begin to pay out on Thursday next. This morning the case of the State against the bondsmen of the late State Treasurer Sooy came up before the Court of Errors on a motion to dismiss the writ of error. The Court has set down Friday next for the hearing of the argument on the motion to dismiss. In the Smith-Bennett case the counsel have filed briefs. Briefs were also filed in the case of Benjamin Noyes, who asks the Court to set aside the conviction in his case.