1622. Middlesex Banking Company (Middletown, CT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 14, 1915
Location
Middletown, Connecticut (41.562, -72.651)

Metadata

Model
gpt-5-mini
Short Digest
f3c699b1

Response Measures

None

Description

No article describes a depositor run. Court-appointed temporary receivers were named Jan 18, 1915, and permanent receivers confirmed Feb 5, 1915; the company was placed into liquidation. Cause of suspension is court action following bondholder suit alleging insolvency/asset problems.

Events (3)

1. January 14, 1915 Other
Newspaper Excerpt
The stockholders of the Middlesex Banking company today voted to turn over the affairs of the company to John L. Dower, state building and loan commissioner, for settlement. This action will be taken within a few days. Mr. Dower, it is expected, will make application for a receiver. (New Britain Herald, Jan. 14, 1915).
Source
newspapers
2. January 18, 1915 Suspension
Cause
Government Action
Cause Details
Bondholders filed suit and moved for appointment of a temporary receiver; court restrained the company from transacting business pending receivership confirmation.
Newspaper Excerpt
MIDDLESEX BANK IN HANDS OF RECEIVERS ... John E. Dower ... and Judge Silas A. Robinson ... were appointed temporary receivers of . the Middlesex Banking company of Middletown by Judge Joseph P. Tuttle ...
Source
newspapers
3. February 5, 1915 Receivership
Newspaper Excerpt
Receivers For Middlesex Banking Co. ... John L. Dower ... and Silas A. Robinson were today appointed by Judge Gager ... permanent receivers for the Middlesex Banking company of this city. The company is going into liquidation. (Norwich Bulletin, Feb. 6, 1915).
Source
newspapers

Newspaper Articles (10)

Article from New Britain Herald, January 14, 1915

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AFFAIRS TO DOWER. Middletown, Jan. 4.--The stockholders of the Middlesex Banking company today voted to turn over the affairs of the company to John L. Dower, state building and loan commissioner, for settlement. This action will be taken within a few days. Mr. Dower, it is expected, will make application for a receiver. The company owns about 68,000 acres of land in the Dakotas.


Article from New Britain Herald, January 18, 1915

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MIDDLESEX BANK IN HANDS OF RECEIVERS Commissioner Dower and Judge Robinson Appointed to Look After Affairs of Middletown Institution. Hartford, Jan 18.-John E. Dower of this city, the state building and loan commissioner. and Judge Silas A. Robinson of Middletown were appointed temporary receives of . the Middlesex Banking company of Middletown by Judge Joseph P. Tuttle of the superior court in this city today. Bonds were fixed at $30,000. A hearing on the confirmation of the appointment and for the appointment of appraisers was set for Friday, February 5, at 11 a. m., before Judge Gager in the superior court at Middletown. Bondholders of the company who made the application for a receiver were Anna J. Brackett, Henry P. Smith, Florence H. Herman, Jerome W. Wilson, all of Hartford, and bondholders in Waterbury and elsewhere in the state, all represented by Stewart W. Dunning of Hartford and Howard B. Snow of Waterbury, as attorneys. The Middlesex Banking company has been doing a business of selling collateral debenture bonds, collateral instalment bonds and so-called income bonds, loaning the money so received on property in the west. Attorney Frank D. Haines, of Middletown, counsel for the banking company gave his private opinion that the assets were about $8,000,000 and the liabilities $3,000,000 mortgage notes negotiated, indorsed in blank, and other items which made the books show about $8,000,000 liabilities.


Article from The Bridgeport Evening Farmer, January 26, 1915

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Tulips & Daffodils 75c per doz. JOHN RECK & SON ANNA J. BRACKETT, ET AL., VS. THE MIDDLESEX BANKING COMPANY, SUPERIOR COURT, HARTFORD COUNTY. January 16, 1915. Order Appointing Temporary Receivers. The complaint in the above entitled action duly verified by oath having been, presented to the undersigned, a judge of the superior court for the State of Connecticut, said court not now being actually in session, and plaintiffs therein by their counsel having moved for a order appointing a temporary receiver in said action, it is hereby. ORDERED that John L. Dower of the town and county of Hartford and State of Connecticut and Silas A. Robinson, in the County of Middlesex in said State, be and hereby are appointed temporary receivers of the defendant corporation, with all' equity and other powers thereto belonging, and subject to the duties imposed by law upon such receivers. AND IT IS FURTHER ORDERED that such receivers before entering upon the duties of their office as such shall give and file with the Clerk of the Superior Court for Middlesex County a bond in the sum of thirty thousand dollars with sufficient surety or sureties approved by the undersigned conditioned upon the faithful performance of their duties under this appointment; and in the event that said receivers shall hereafter at any time or times be confirmed or appointed in such action permanent receivers of said Middlesex Banking Company of their duties as such receivers. AND IT IS FURTHER ORDERED that the said John L. Dower and Silas A. Robinson as such receivers shall have full power and authority to demand and sue for, collect and receive, and take into their possession all the goods, chattels, rights, credits, choses in action, moneys and effects, lands, tenements, books, papers, bills, notes and property of every description real and personal, tangible or intangible of said The Middlesex Banking Company, and may institute suits at law or in equity for the recovery of any estate or property, damages or assignments of any nature existing in favor of said The Middlesex Banking Company. AND IT IS FURTHER ORDERED that said defendant The Middlesex Banking Company and its officers and agents be and they hereby are ret strained and enjoined from collecting or receiving payment for any debts or paying out, selling, assigning or transeferring any of its estate, real and personal, tanigble or intangible, or from proceeding in any way in the t transaction of its business or exercising any of its corporate or other fran1 chises except at the request and with the consent of, and for the purpose of assisting such receivers. AND IT IS FURTHER ORDERED that such receivers prepare an inventory of the assets of said corporation, and a list of its liabilities and may employ counsel and employ such clerical assistance and pay for the same, as the duties of their office may require. AND IT IS FURTHER ORDERED that notice of such temporary appointment and of a hearing on confirming same and for the appointment of appraisers pursuant to law to be held before the Superior Court for Middlesex County on the 5th day of February, 1915, at eleven o'clock a. m., at the Superior Court Room in the County Building in Middletown be given to all parties interested by serving on or before the 20th a day of January, 1915, a true and attested copy of such complaint, verifiP cation and this order upon the Treasurer of defendant corporation, and by publishing a copy of this order for three successive days prior to the 23rd day of January, 1915, in the Hartford Times, Bridgeport Farmer, Hartford Courant, Middletown Penny Press, New Haven Journal-Courier, the New London Day, and the Waterbury American, all newspapers published and having a circulation in the State of Connecticut, and in three newspapers published and having a circulation outside of the State of Connecticut to be selected by such receivers and further by depositing r in the mail postage prepaid, a written or printed copy of this order adS dressed to each known creditor, bondholder or other security holder and to all stockholders, not less than six days before such hearing. JOSEPH P. TUTTLE, A Judge of the Superior Court for the State of Connecticut. A 23 s*


Article from Norwich Bulletin, February 6, 1915

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Receivers For Middlesex Banking Co. Middletown, Conn. Feb. 5.-John L. Dower, state building and loan commissioner, and Judge Silas A. Robinson were today appointed by Judge Gager in the superior court permanent receivers for the Middlesex Banking company of this city. Arthur In Allen of Middletown and Howard B. Snow of Waterbury were appointed appraiser's. The company is going into liquidation.


Article from The Bridgeport Evening Farmer, February 26, 1915

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Article Text

Dower Returns From Southern Trip With His Reappointment Hartford, Feb. 26-Building and Loan Commissioner John L. Dower returned yesterday from a three weeks trip to the south and west. Mr. Dower and Judgel Silas A. Robinson, of Middletown, are receivers of the Middlesex Banking company of Middletown, and during his trip Mr. Dower procured their appointment in six different states-Minnesota North Dakota, South Dakota, Mississippi, Louisiana and Colorado as auxiliary receiver of the Realty Investment company, subsidiary to the Middlesex Banking company. In each case Mr. Dower appeared before the state court accompanied by a lawyer of the state and met with no obstacles in securing appointment.


Article from New Britain Herald, February 26, 1915

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Article Text

DOWER SECURES APPOINTMENT. and Hartford, Feb. 26.-Building Loan Commissioner John L. Dower returned yesterday from a three weeks' trip in the south and west. Mr. Dower and Judge Silas A. Robinson of Middletown are co-receivers of the Middlesex Banking company of Middletown and during his trip Mr. Dower secured their appointment in six different states-Minesota, North Dakota, South Dakota, Mississippi, Louisiana and Colorado--as auxiliary receiver of the Realty Investment company, subsidiary to the Middlesex Banking comapny. In each case Mr. Dower apeared before the state court accompanied by a lawyer of that state, and met with no obstacles in securing appointment.


Article from New Britain Herald, March 18, 1915

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WANT $25,000. Middlesex Banking Company Asks for That Amount. Middletown, March 18.-The receivers of the Middlesex Banking company today asked Judge E. B. Gager of the superior court for permission to spend upwards of $25,000 for seed and farming implements in western states, where the company holds over 100,000 acres of farming land. The company has issued bonds to the amount of $3,500,000 against its land holdings, and the proposal is to give each tenant $100 for seed and tools, and enable each to make a crop so that they can pay rent, interest and possibly something on the principal of mortgages they have given for land bought. Some of the bondholders oppose the plan.


Article from Norwich Bulletin, December 13, 1915

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at the nome or MTS. nerman Jacker of Norwich. The household effects of Rhodes Davis have been moved from Hallville to Potter Hill, R. I., where Mr. Davis is now employed. R. N. of A. whist at Buckingham Memorial tonight.-adv. A call has been issued to the men of the town of Andover to meet at the town hall this (Monday) evening to form a men's club. Narcissus bulbs in attractive box, 25c. Geo. A. Davis.Patches of snow remain on lawns and fields in the suburbs, evidence that winter, long delaped, has arrived in time to put a needed punch in holiday trade. At 8 o'clock Saturday morning, in St. Patrick's church, a month's mind high mass of requiem for Michael Connell was sung by Rev. J. H. Broderick, A great variety of useful articles in leather. Geo. A. Davis.-adv. The sum of $9,352.50 has been paid by the state for school supervision. The school libraries cost the state this year $12,515 and the evening schools $14,219.01. The officers of the Mystic Tierney Cadets, the juvenile temperance organization, will be installed Jan. 12th by County Director William H. McGuinness, of Norwich. At the Second Congregational church in Stonington Sunday Rev. D. C. Stone exchanged pulpits with Rev. Giles F Goodenough of Ledyard who preached at the 10.45 a. m. service. Ladies' handbags in all the newest shapes. Geo. A. Davis. -adv. Suffragan Bishop E. C. Acheson's appointments include: March 13, 14, 15. 16, 17, 18, mission preaching in Norwich. March 19, Trinity church, Christ cthurh, St. Andrew's. The Holy Name society of St. Patrick's parish has requested a month's mind mass Thursday for John Comerford, for many years the faithful assistant sexton of the church. Rev. H. Sherman of Montville occupied the pulpit at the Colchester Baptist church Sunday, at 10.45 a. m. and 7 p.m. Rev. B. D. Remington of Colchester conducted services at Montville. Fifty printed calling cards for 25 cents at The Bulletin office.-adv Dr. Joseph H. Townsend, secretary of the state board of health states that at the present time except for a mild cas of smallpox in Rockville, reported about two weeks ago, the state is free from the disease. The monthly men's meeting held in the Colchester Congregational chapel Sunday afternoon at 3.30 was addressed by Rev. Edward S. Worcester, pastor of the Broadway Congregational church of Norwich, Christmas and New Year cards. Best assortment in the city. Geo. A. Davis. -adv. Congressman E. J. Hill has been chosen chairman of the Connecticut delegation in congress: Congressman James F. Glynn, secretarp, and Congressman John Q. Tilson, member of the national congressional committee. A check for $100 has recently been given the local branch of the Red Cross by Mrs. Charles Henry Osgood. In Sunday's acknowledgment of gifts to the Belgian Christmas fund, a donation of $100 was credited to Charles H. Osgood. Swan safety fountain pens, the only fountain pen that will not leak. Geo. A. Davis.-adv. The organist at the vesper services in St. Patrick's church Sunday afternoon was Henry Fontaine, who played for his teacher, Prof. Frank L. Farrell, who went to Stafford Springs to give an organ recital at St. Edward's church Sunday evening. Sale of Christmas novelties by Mrs. M. Jewett at 58 Church St. Wed. and Thurs., Dec. 15-16.-adv. Judge Gardiner Greene of Norwich has cut down the fee of Lawyer Stewart N. Dunning of Hartford, who prepared the papers in the application for the receiver for the Middlesex Banking company, at Middletown, from $500, the amount of his claim, to $100. At the Danbury High school Friday, in the Philomusa exercises the pupils debated the question, "Resolved, That Benedict Arnold Has Been Sufficiently Censured for the Part He Played in the American Revolution." The decision was against our famous townsman. The members of the Moosup Methodist church are preparing for a public celebration upon the payment of the entire debt of the church, to be held Wednesday, Dec. 15th. Addresses will be deliverd by former pastors and by the district superintendent, Rev. George G. Scrivner, of Norwich. Eastman kodaks of every descripntion, Brownie cameras, films, postcards (and paper. Geo. A. Davis.-adv. The Connecticut Churchman compliments the assemblage at the recent dinner at the Wauregan house, Norwich, tendered the Episcopal bishop and new suffragan bishop of Connecticut as "One of the largest and finest gatherings of men representative of New London Archdeaconry." Leases Uncas Street Residence. Mrs. A. N. Carpenter of Uncas street has rented her house on Uncas


Article from Norwich Bulletin, April 13, 1916

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DECISION AGAINST THE MIDDLESEX BANKING CO. Fail to Recover $7,500 Corporation Tax From Internal Revenue Dept. Hartford, April 12.-The United States circuit court of appeals has sustained the decision of Judge E. S. Thomas of the United States district court to the effect that the government need not refund about $7,500 in corporation taxes collected by the internal revenue department from the Middlesex Banking company of Middletown. The company claimed that the money taxes represented deposits of customers. Since the suit was brought against the government the company has gone into a receivership.


Article from Connecticut Western News, December 28, 1916

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Charles J. York, president of the board of trustees of Gilbert school and for more than forty years superintendent of the Sunday S hool of the Methodist Episcopal church. died at his home in Winsted. A movement has been started to have a regular health board in Meriden. At present there is a health committee, composed of members of the city council and appointed by that body, and its powers are limited. The report of the receivers of the Middlesex Banking company of Middletown shows a profit of about $17,000 as a result of the operation of farm lands of the company in the west during the six months just past. Rev. William Horace Day, pastor of the First Congregational church of Los Angeles, Cal., will be called to the pastorate of the United Congregational church of Bridgeport, which has long been without a regular pastor. Suit for damages of $10,000 has been brought by the parents of Giuseppina Aresco, the two-year-old Italian girl who was killed last October by being run over by a coal wagon owned by the Middletown Coal company. The congregation of the Trinity German Lutheran church, New Haven, has called Rev. A. F. Keller of Lynnbrook, N. Y., to the pastorate of the church, to succeed the late Rev. John A. Timm, who died last summer. The novelty shop of Charles Bonoff in Madison was broken into, and merchandise, mostly cigars, to an estimated value of more than $125 was taken. The burglars entered by removing a section of glass from the front door. Found guilty of keeping a gambling house and of operating a pool room without a a was saloon keeper license, of Joseph Bridgeport, Charnowski, fined $25 in the city court. Nine alleged frequenters were each fined $5. Three riveters working inside a new United States submarine on the ways at the Lake Torpedo Boat company's plant, Bridgeport, were overcome by coal gas emanating from an open forge. They were revived by a pulmotor. George A. Sweetland, Socialist candidate for governor in 1904 and the captain of a company of Connecticut men which took part in the invasion of Washington by Coxey's army, died at the Hartford hospital of heart disease. Tainted food and coal gas caused the death of Mrs. Relalia Ribotzardo, alias Moroto, seventeen years old, in her one room "home" in Bridgeport and almost caused the death of her husband, Felecia, and their three-months-old baby. William Gage Snyder, yard brakemart in the New Haven east end yards of the New York, New Haven and Hartford Railroad company, was killed by freight .train No. 1, Providence to Harlem, as he backed on the track. Joseph H. Sanford, the sixteen-yearold son of D. S. Sanford.headmaster of the Sanford school at Redding, was found dead in the power house connected with the school. The medical examiner says death was due to apoplexy. Mrs. Howard L. Elton of Waterbury received a telegram from the state department notifying her of the execution of her husband at Oaxaca, Mexico. on Dec. 16. Elton, who was a mining engineer, was charged with aiding the reactionaries. Found guilty of keeping a gambling house at 59 Elm street, in the center of Bridgeport's business section and within a few hundred feet of police headquarters, "Big Bill" Smith of 170 hough avenue was fined $50 and costs in the city court. Cases against James A. Sherwood of Easton and Fred B. Harriott of Huntington, charged with violation of the corrupt practices law in not filing election expense returns within the time limit required by the statute, were nolled in police court. Feeling that the comparative inaccessibility of Danbury by train has something to do with the city not growing faster and attracting more industries, the Danbury Chamber of Commerce is