New England Loan & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: May 19, 1900
Location: New York, New York (40.714, -74.006)

Metadata

Model: gpt-5-mini
Short Digest: 16468d9e

Response Measures

None

Description

Article (New-York Tribune 1900-05-19) reports equity suit and appointment of a standing master to adjudicate claims in the case of the New-England Loan and Trust Company; a receiver (Otto T. Bannard) had been appointed over a year earlier. This indicates the company was in receivership/closed rather than merely experiencing a run or temporary suspension. The company is identified as 'of Iowa' but with principal offices in New York; used New York per provided bank info and article context.

Events (1)

1. May 19, 1900 Receivership

Newspaper Excerpt: Judge Lacombe ... appointed Arthur H. Masten ... to take such proofs ... concerning the indebtedness of the New-England Loan and Trust Company, of Iowa, the principal offices of which are in this city ... In the same suit over a year ago Judge Shipman appointed Otto T. Bannard ... receiver of the New-England Loan and Trust Company.
Source: newspapers

Newspaper Articles (1)

1. May 19, 1900 New-York Tribune New York, NY

Article from New-York Tribune, May 19, 1900

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Article Text

MASTEN IN CHARGE OF TRUST COMPANY. Judge Lacombe, of the United States Circuit Court. yesterday appointed Arthur H. Masten, standing master of the court. to take such proofs as may be offered by the parties to the cause or any' other creditor of the New-England Loan and Trust Company, of Iowa, the principal offices of which are in this city, concerning the indebtedness of that corporation in the suit in equity brought by the Real Estate Trust Company, of Philadelphia, and Savillion S. Allen, of St. Albans, Vt. The standing master is also empowered to allow or disallow the claims presented to him. and to ascertain what claims, if any, are entitled to preference in payment. His notices inviting claims are to be published once weekly for a month in two newspapers here and in one newspaper in Des Moines, Iowa. In the same suit over a year ago Judge Shipman appointed Otto T. Bannard, of this city, receiver of the New-England Loan and Trust Company. The suit was brought on account of a default in the payment of the interest and principal of debentures aggregating a large sum.