Commercial Bank - Brooklyn, NY

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: February 13, 1902
Location: Brooklyn, New York (40.660, -73.951)

Metadata

Model: gpt-5-mini
Short Digest: bd7a7945

Response Measures

None

Description

Article (New-York Tribune, 1902-02-13) describes the Commercial Bank of Brooklyn in receivership with a receiver (W. N. Dylman) paying a dividend to creditors; no mention of a run prior to the suspension/closure. Therefore classified as a suspension leading to closure (receivership).

Events (1)

1. February 13, 1902 Receivership

Newspaper Excerpt: Justice Adelbert P. Rich ... has rendered a decision in the application of W. N. Dylman for discharge as receiver of the Commercial Bank of Brooklyn, directing that he pay to the creditors of the bank a dividend ... The total amount still due the creditors of the bank is $83,464.01, and the deficiency amounts to $73,798.23.
Source: newspapers

Newspaper Articles (1)

1. February 13, 1902 New-York Tribune New York, NY

Article from New-York Tribune, February 13, 1902

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Article Text

DIRECTS DIVIDEND TO CREDITORS. Justice Adelbert P. Rich, sitting in the Supreme Court. Brooklyn, has rendered a decision in the application of W. N. Dylman for discharge as receiver of the Commercial Bank. of Brooklyn, directing that he pay to the creditors of the bank a dividend of 1 1/4 per cent from the balance remain5.3 in his hands, but that no action be taken until the final determination on appeal of the application of Thomas J. France, a depositor, for an order directing the Attorney General to bring in the stockholders as party defendants. so that their liability for the debts of the bank may be determined. It is shown that the total amount still due the creditors of the bank is $83,464 01. and that the deficiency amounts to $73,798.23 The amount to be distributed under Justice Rich's decree is $10,590 79, subject to the expenses of the proceedings.