1642. American National Life and Trust Company (New Haven, CT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Start Date
September 9, 1875
Location
New Haven, Connecticut (41.308, -72.928)

Metadata

Model
gpt-5-mini
Short Digest
d7a0d4a9

Response Measures

None

Description

Articles describe state action by the Connecticut Insurance Commissioner to take possession of the company's offices, books and assets in Sept 1875 and refer to the company as defunct. No newspaper account of a depositor run is given. A receivership/takeover by the state is indicated; later litigation (1891) references removal of assets December 1875.

Events (3)

1. September 9, 1875 Receivership
Newspaper Excerpt
Mr. Stedman will give bonds as receiver before Chief Justice Park at Norwich this afternoon, and take possession of the company's office to-morrow. ... A motion to dissolve the injunction ... has been granted ... and the Insurance Commissioner ... will at once take possession. The decision has caused considerable excitement in this city.
Source
newspapers
2. September 9, 1875 Suspension
Cause
Government Action
Cause Details
State Insurance Commissioner Stedman sought and (after litigation) obtained possession of the company's offices, books and assets; injunction proceedings around Sept. 9, 1875.
Newspaper Excerpt
an injunction was granted ... restraining the American National Life and Trust Company ... from removing, encumbering or disposing of its assets, books and papers. ... Mr. Stedman will give bonds as receiver ... and take possession of the company's office to-morrow.
Source
newspapers
3. December 1, 1875* Other
Newspaper Excerpt
the receiver sues to recover damages for what he alleges to be fraudulent acts ... in abstracting and removing valuable assets from the possession of the American National Life and Trust company in December, 1875.
Source
newspapers

Newspaper Articles (3)

Article from The Portland Daily Press, January 27, 1875

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Article Text

# Disasters on the English Coast. Reports of disasters to shipping by the recent heavy gales are beginning to come in. The bark Gorden Lorentezen, from Doboy for Dublin, arrived at St. Michaels, damaged. The bark Arvid, at Queenstown to-day from Baltimore is much damaged. Barks H. D. Brook-man, from New York, and Annie Worrall from Baltimore, at Liverpool, sustained considerable injury by the heavy gale. The ship Isles of the South, from San francisco, and the bark Duc Fatelli Colcago, from Galway, collided off Holyhead and both were damaged. # A Mob Attacks a Member of the New Brunswick Legislature. ST. JOHN, N. B., Jan. 26.-Yesterday at Caraquette, Gloucester county, about 100 French-men with guns and sticks, assembled to attack the residence of Hon. Robert Young, a member of the New Brunswick Legislature, obnoxious to them on account of his action in reference to the government school act. Young had his premises barricaded and armed inside. The mob after consultation retreated, threatening to return to day. The ring-leaders and eight others of the mob were arrested this morning. # MINOR TELEGRAMS. The Spanish have fired on a British vessel loaded with cable off the coast of Biscay. The Erie Railroad earnings last year were $18,598,000, and the expenses $18,584,000. No dividend was paid. Senator Britton was reseated in the Massachusetts Senate yesterday. The Senate has confirmed James A. Hall Collector at Waldoboro, Me. Mr. Hawkins has declined a seat on the bench of the English court of common pleas, and it will be tendered to Henry Colton. The English government has adopted a system of torpedoes for the defence of the harbors of Bermuda and Halifax. The Carlists have left the provinces of Biscay and Guipascoa and moved into Navarre, taking with them all their material of war. The army of the North has assumed the offensive against the Carlists. The small pox is raging all over the island of Cuba. Greenpoint harbor, Long Island, is closed by ice. The bark Marion, Dillion, from Hull for the United States, came in collision with the Livinia. The latter sunk and the former was slightly damaged. The crew of the Livinia were saved. The Hartford Courant insists upon the truth of its statement that Postmaster Sperry of New Haven, one of the directors of the defunct American National Life and Trust Company, was also one of the building committee that contracted with a firm of builders of which he is a member, to superintend the erection of the company's building at a commission of 10 per cent., which netted about $24,000. Charles G. Hager & Son, bankers of Watertown, New York, suspended yesterday morning. This, with the failure of George F. Paddock & Co., bankers, last week, created great excitement. The Kellogg opera troupe made the only successful opening of the season at the New York Academy of Music, Monday night. The express train up over the Boston, Concord & Montreal Railroad, which left Concord at 9 o'clock Monday night, got stuck in a snow drift at Fogg's station, near Ashland, and remained until yesterday morning. An express freight train going up ran into the rear of the passenger train, but did no especial damage. A petition is circulating in Lowell for the reappointment of Conductor Blood, recently discharged from the B. & M. road on account of antipathy to the management on the gate matter. Episcopalian clergymen are holding a convention at Concord, N. H. Internal revenue receipts yesterday were $162,112. Pittsburg merchants have organized a Chamber of Commerce.


Article from The New York Herald, September 10, 1875

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Article Text

THE AMERICAN NATIONAL LIFE AND TRUST COMPANY AFFAIRS. AN INJUNCTION GRANTED BY JUDGE ROBINSON AND DISSOLVED BY JUDGE BEARDSLEY. NEW HAVEN, Conn., Sept. 9, 1875. On application of Insurance Commissioner Stedman, an injunction was granted last night by Judge William G. Robinson, of the Court of Common Pleas, restraining the American National Life and Trust Company, of this city, from removing, encumbering or disposing of its assets, books and papers. The penalty fixed is $100,000. Mr. Stedman will give bonds as receiver before Chief Justice Park at Norwich this afternoon, and take possession of the company's office to-morrow. It is rumored that the insurance company will take the case into the United States Court to test the constitutionality of the State law under which Mr. Stedman has assumed to act. THE INJUNCTION DISSOLVED. A motion to dissolve the injunction restraining the State Insurance Commissioner from taking possession of the office, books, papers and assets of the American National Life and Trust Company of this city, has been granted by Judge Beardsley, of the Supreme Court, and the Insurance Commissioner, unless restrained by new legal proceeding, will at once take possession. The decision has caused considerable excitement in this city.


Article from Morning Journal and Courier, January 6, 1891

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Article Text

AFTER MANY YEARS. An old New Haven Case Revived at Washington. Talcott H. Russell appeared before the United States supreme court at Washington yesterday to again bring up the famous litigation concerning the defunct American National Life Insurance company of New Haven. The matter comes up upon Receiver Russell's appeal against Augustus T. Post and Elwood T. Thorne, both of New York. The receiver sues to recover damages for what he alleges to be fraudulent acts by the defendants, together with Benjamin Noyes of New Haven and Henry D. Walker of Boston, in abstracting and removing valuable assets from the possession of the American National Life and Trust company in December, 1875.