Bowling Green Trust Company

Bank Information

Episode Type: Suspension → Reopening
Bank Type: trust company
Start Date: October 31, 1901
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 09fec73c

Response Measures

None

Description

Article (New-York Tribune 1901-10-31) describes the Bowling Green Trust Company's recent suspension and receivership being discharged and that it is expected to resume business within a few days; no run is mentioned. Classified as a suspension with reopening. Corrected nothing significant.

Events (3)

1. October 31, 1901 Reopening

Newspaper Excerpt: The final formalities for resumption are nearly completed, and it is expected to resume business within a few days. ... The bank also proposes to allow its depositors interest at the rate of 3 per cent per annum during the period of suspension. (New-York Tribune 1901-10-31).
Source: newspapers

2. * Receivership

Newspaper Excerpt: It is understood that the institution will begin business with a paid in capital ... The bank will be readmitted to the privileges of the Clearing House within a short time after the receivership is discharged and the bank reopens its doors. (New-York Tribune 1901-10-31).
Source: newspapers

3. * Suspension

Cause: Government Action
Cause Details: Bank had been placed in receivership and suspended operations; receivership later discharged.
Newspaper Excerpt: The name of the bank, which it has borne during sixty-eight years of successful business (save only during the recent suspension) will be retained.
Source: newspapers

Newspaper Articles (1)

1. October 31, 1901 New-York Tribune New York, NY

Article from New-York Tribune, October 31, 1901

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Article Text

tion of the bank, yesterday issued the following statement showing the institution's present position: The new executive officers of the bank are: President. Edwin Gould: vice-presidents. Edward R Thomas and William H. Taylor: vice-president and cashier. R. W. Jones, Jr.: general counsel, Sullivan & Cromwell. The executive committee will be composed probably of Messrs. Gould, Thomas. Taylor. Jones and Cromwell. The final formalities for resumption are nearly completed, and it is expected to resume business within a few days. and not only to open with cash in hand more than sufficient to meet every obligation, but with a capital three times as large as before. The bank also proposes to allow its depositors interest at the rate of 3 per cent per annum during the period of suspension. The name of the bank, which it has borne during sixty-eight years of successful business (save only during the recent suspension) will be retained. It is understood that the institution will begin business with a paid in capital of $1,700,000. of which $1,500,000 has been subscribed by the new interests. The new president, Edwin Gould, is the second son of the late Jay Gould. With General Samuel Thomas he reorganized two years ago the suspended Produce Exchange Trust Company, of which institution, under its new style of the Bowling Green Trust Company, he has since been the president. Mr. Gould is also president of the St. Louis Southwestern Railway Company and a director of other roads of the Gould system. It is understood that the bank will be readmitted to the privileges of the Clearing House within a short time after the receivership is discharged and the bank reopens its doors.