Merchants Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: October 25, 1932
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 4b1e114b

Response Measures

None

Description

Article (Oct 25, 1932) states Merchants Trust Company is in receivership; no run or depositor run is described. Classification: suspension leading to closure/receivership (government action).

Events (2)

1. October 25, 1932 Receivership

Newspaper Excerpt: Counsel for the receiver in the Merchants Trust Company case ... the Merchants Trust Company receivership at the short calendar session of the superior court Friday morning.
Source: newspapers

2. October 25, 1932 Suspension

Cause: Government Action
Cause Details: Bank placed in receivership; court motions and receiver handling savings department loans.
Newspaper Excerpt: Counsel for the receiver in the Merchants Trust Company case, is expected to bring the subject up ...
Source: newspapers

Newspaper Articles (1)

1. October 25, 1932 The Waterbury Democrat Waterbury, CT

Article from The Waterbury Democrat, October 25, 1932

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Article Text

Motions On Savings Department Loans Of Merchants Trust They Will Be Argued in the TABULATION OF Short Calendar Session DIGEST POLL ON of Superior Court on THE PRESIDENT Friday Morning Next New York, October 25 Motions pertaining to the savings department loans, secured by (UP) - Today's tabulation in savings accounts, will be heard in the Literary Digest's presidenthe Merchants Trust Company retial poll: ceivership at the short calendar Hoover Roosevelt session of the superior court FriLos Angeles, day morning. Counsel for the reCal (3rd receiver, The Citizens and Manufac40,496 18,182 port) turers National Bank, has filed a Kansas City, motion asking that two motions, Mo (2nd refiled last August and September, be 9,964 7,247 port) withdrawn pending a universal deDayton, Ohio cision from judges of the superior (2nd recourt. 3,979 3,096 port) Counsel in bank receivership Milw a ukee cases all over the state are in a (2nd re. 10,478 3,053 quandry as how to interpret the report) cent decision of the supreme court Des Moines, of errors, handed down in response Ia, (3rd re1,770 1,599 to a question raised by Waterbury port 176 279 counsel. The decision stated that Bristol. Ct the receiver is permitted to take East St Louis, 523 1,395 III those passbooks, put up as collat737 396 eral for loans, and set off against Bayonne, N.J. 380 452 the loan, the amount recorded in Rome, N. Y. 925 184 the pass book. Galveston, Tex The question on applying savings accounts against notes owed the bank that has gone into receiverFINGERPRINTS ship, will be brought up at the next meeting of the superior court judges who will render a decision ON GUN MIGHT that will be universally adopted throughout the state. Attorney Francis T. Reeves, FIND KILLER counsel for the receiver in the Merchants Trust Company case, is expected to bring the subject up at Gadsden, Ala., Oct 25 5-(UP)- the short calendar session Friday. Wingernrints on a shotgun used in