2220. International Bank and Trust Company of America (Dover, DE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 20, 1903
Location
Dover, Delaware (39.158, -75.524)

Metadata

Model
gpt-5-mini
Short Digest
6bb723ca

Response Measures

None

Description

Articles (Oct 19-21, 1903) report insolvency of the International Bank and Trust Company of America (a Delaware corporation) and the appointment of a Delaware receiver (James H. Hughes). Mexican branches had been closed under a receivership in Mexico; the Delaware chancery appointed a receiver and will seek subordinate receivers elsewhere. No explicit depositor run is described in these items; event is receivership/suspension leading to closure.

Events (1)
1. October 20, 1903 Receivership
Newspaper Excerpt
Chancellor Nicholson today granted an application for a receiver for the International Bank and Trust Company of America. James H. Hughes of Delaware was appointed receiver, and subordinate receivers will be appointed later in all other states where the corporation has assets.
Source
newspapers

Newspaper Articles (10)
1. October 20, 1903 The Savannah Morning News Savannah, GA
Article from The Savannah Morning News, October 20, 1903

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Article Text

# RACE FOR A RECEIVER. One Is Wanted to Manage Banks' Affairs in Mexico. Dover, Del., Oct. 19. -The insolvency of the International Bank and Trust Company of America at the City of Mexico, which is a corporation of the state of Delaware, and which was recently given authority to increase its capital stock to $5,000,000, caused to-night one of the most remarkable dashes for a receivership ever known here. A number of those interested in the big company, who are opposed to the receivership obtained in Mexico, which closed all the company's Maxican banks, and who also opposed the selection of Don Jacinto Patteras, a lawyer, as receiver, gathered here to-night with the object of obtaining the judgment of the highest court in the state, which created the company. An application to Chancellor Nicholson was hurriedly drawn up, praying him to appoint a receiver, who could go into Mexico, and eleswhere and take charge of the company's assets. Later the party hurried aboard a Delaware Railroad train for Lewes and there continued their search for Chancellor Nicholson by boat, the chancellor having gone out on a trip from the Delaware Breakwater on the pilot boat Philadelphia. The members of the party expect to overtake the chancellor and express the belief that they will get a receivership to-night.

2. October 20, 1903 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, October 20, 1903

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Article Text

CHASE AFTER JUDGE Creditors Use Boat to Secure Order From Chancellor. DOVER, Del., Oct. 19.-The insolvency of the International Bank and Trust Company of America at the City of Mexico, which is a corporation of the state of Delaware and which was recently given authority to increase its capital stock to $5,000,000, caused tonight one of the most remarkable dashes for a receivership ever known here. A number of those interested in the big company who are opposed to the receivership obtained in Mexico which closed all the company's Mexican banks and who opposed the selection of Don Jacinto Patteres, a lawyer, as receiver, gathered here tonight with the object of obtaining the judgment of the highest court in the state which created the company. An application to Chancellor Nicholson was huriredly drawn up praying him to appoint a receiver who could go into Mexico and elsewhere and take charge of the company's assets. Later the party hurried aboard a Delaware railroad train for Lewes and there continued their search for Chancellor Nicholson by boat, the chancellor having gone out on a trip from the Delaware breakwater on the pilot boat Philadelphia. The members of the party expect to overtake the chancellor and express the belief that they will get a receivership tonight. They claim that because this is a corporation of the state of Delaware the action of the chancellor will take precedence. Herbert Compton, a stockholder, directly makes the application to Chancellor Nicholson on the ground of insolvency.

3. October 20, 1903 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, October 20, 1903

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Article Text

More Failures. Dover, Del., Oct. 20.-Chancellor Nicholson this morning appointed James H. Hughes, receiver of the International Bank and Trust Company of America, whose bank was closed in the city of Mexico. The appointment of Hughes was agreed upon by all sides. As the company is a corporation of this State, it is believed that the receivership granted by Chancellor Nicholson, will supersede a similar action in Mexico. Chatsworth, Ills., Oct. 20.-The bank of Chatsworth, a private institution, has closed its doors. J. E Brown is president. It had a paid up capital of $25,000, and deposits of $95,000. New York, Oct. 20.-There has been transferred to Baltimore from the local subtreasury. $1,200,000 since yesterday. Today's transfer was $800,000. In addition there was transferred this morning $100,000 to New Orleans.

4. October 20, 1903 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, October 20, 1903

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Article Text

CHASING CHANCELLOR EFFORTS HAVE A RECEIVER APPOINTD Troubles of the International Bank and Trust Company of America in Mexico is Reflected in Delaware. Dover, Del, Oct. 19.-The insolvency of the International Bank and Trust Company of America, at the City of Mexico, which is a corporation of the State of Delaware, and which was recently given authority to increase capital stock to $5,000,000, caused tonight one of the most remarkable dashes for a receivership ever known here. A number of those interested in the big company, who are opposed to the receivership obtained in Mexico, which closed all the company's Mexican banks and who also opposed the selection of Don Jacinto Patteres, a lawyer, as receiver, gathered here tonight with the object of obtaining the judgment of the highest court in the State which created the company. Those present were Charles L. Philips, Vice-President of the company; Joseph G. Dean of New York, a Director; James L. Wolcott, a lawyer of Dover, another Director; former Governor William T. Watson, also a director; Henry Ridgeley, special counsel for Herbert Compton, a stockholder, and William L. Gooding, special counsel for the company. An application to Chancellor Nicholson was hurriedly drawn up, praying him to appoint a receiver which could go into Mexico and elsewhere and take charge of the company's assets. Later the party hurried aboard a Delaware railroad train for Lewes, and there continued their search for Chancellor Nicholson by boat, the Chancellor having gone out on a trip from the Delaware breakwaters on the pilot boat Philadelphia. The members of the party expect to overtake the Chancellor and express the belief that they will get a receivership tonight. They claim that because this is a corporation of the State of Delaware, the action of the Chancellor will take precedence. Herbert Compton, a stock. holder, directly makes the application to Chancellor Nicholson, on the ground of insolvency.

5. October 21, 1903 The Saint Paul Globe Saint Paul, MN
Article from The Saint Paul Globe, October 21, 1903

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Article Text

Hughes Is Appointed Receiver. DOVER, Del., Oct. 20.-Chancellor Nicholson today granted an application for a receiver for the International Bank and Trust Company of America. James M. Hughes, of Delaware, was appointed receiver. Efforts will also be made to have SUbordinate receivers named in states where the corporation has assets. Herbert Compton, a stockholder, made the application for a receiver, and Lawyer William L. Gooding made answer for the company.

6. October 21, 1903 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, October 21, 1903

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Article Text

RECEIVER APPOINTED FOR MEXICAN COMPANY. Dover, Del., October 20.-Chancellor N1cholson today granted an application for a receiver for the International Bank and Trust Company of America . James H Hughes of Delaware was appointed receiver, and subordinate receivers will later be appointed in all other states where the corporation has assets. Herbert Compton, a stockholder. made the application for a receiver. and Lawyer Wm. L. Goodin made answer for the company. New York, October 20.-Local representatives of the International Bank and Trust company said, today, that they had no official knoweldge of the appointment of a receiver. There was a conference at the company's office today, at which Second Vice-President John Maugham was present. The large clerical force recently employed at the Wall street office, seems to have been dismissed.

7. October 21, 1903 The Daily Pioneer Bemidji, MN
Article from The Daily Pioneer, October 21, 1903

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Article Text

ASSETS IN MANY STATES. Receiver for International Bank and Trust Company. Dover, Del., Oct. 21.-Chancellor Nicholson has granted an application for a receiver for the International Bank and Trust Company of America. James H. Hughes of Delaware was appointed receiver. Efforts will also be made to have subordinate receivers named in states where the corporation has assets. Herbert Compton, a stockholder, made the application for a receiver and Lawyer William L. Gooding made answer for the company.

8. October 21, 1903 Evening Journal Wilmington, DE
Article from Evening Journal, October 21, 1903

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Article Text

Receiver for Big Trust Company. Dover, Del., Oct. 21. - Chancellor Nicholson hss granted an application for a receiver for the International Bank and Trust Company of America. James H. Hughes, of Delaware, was appointed receiver. Subordinate receivers will be appointed in all other states where the corporation has assets. Efforts will also be made to have a subordinate receiver named in the republic of Mexico. Herbert Compton, a stockholder, made the applicalion for a receiver and William L. Gooding opposed the granting of the appliction for the company.

9. October 21, 1903 The Savannah Morning News Savannah, GA
Article from The Savannah Morning News, October 21, 1903

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Article Text

RECEIVER WAS NAMED For the International Bank and Trust Company. Dover, Del., Oct. 20.-Chancellor Nicholson to-day granted an application for a receiver for the International Bank and Trust Company of America. James H. Hughes of Delaware was appointed receiver, and subordinate receivers will be appointed later in all other states where the corporation has assets. Efforts also will be made to have subordinate receivers named in Mexico. Herbert Compton, a. stockholder, made the application for a receiver, and Lawyer William L. Gooding made answer for the company. When an effort was made to reach the chancellor last night he was on a pilot boat off Delaware Breakwater, but a party of officers and stockholders located him, and by megaphoning the boat the chancellor was brought ashore, and after some explanations by counsel the application was granted.

10. October 21, 1903 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, October 21, 1903

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Article Text

Receiver for a Mexican Bank. DOVER, Del., Oct. 20.-Chancellor Nicholson to-day granted an application for a recevier for the International Bank and Trust Company of America. James W. Hughes, of Delaware, was appointed receiver and subordinate receivers will later be appointed in all other States where the corporation has assets. Herbert Compton, a stockholder, made the application for a receiver and lawyer William L. Gooding made answer for the company.