Closed by order of the Comptroller of the Currency; receiver placed in charge.
Newspaper Excerpt
The First National bank at Asbury Park, N. J., was closed this morning by order of the comptroller of the currency, and a receiver placed in charge.
Source
newspapers
same day
3.February 13, 1903Receivership
Newspaper Excerpt
The First National bank at Asbury Park, N. J., was closed this morning by order of the comptroller of the currency, and a receiver placed in charge.
Source
newspapers
same day
4.February 13, 1903Receivership
Source
historical_nic
Newspaper Articles (20)
1.February 16, 1903Durango Semi-Weekly HeraldDurango, CO
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SALT LAKE. Utah, Feb. 13.-Senator-elect Reed Smoot, at a banquet given last night to state officials, entertained several colored men and women politicians among the white guests. For a time no little trouble was threatened among the guests, but it was averted. The waitresses, who were all white girls, at first refused to serve the colored people, but the matter was finally compromised by the girls putting the food on the table and allowing the colored people to wait on themselves. The entertainment is causing considerable comment among white folks today. WASHINGTON, D. C., Feb. 13.The First National bank at Asbury Park, N. J., was closed this morning by order of the comptroller of the currency, and a receiver placed in charge. PANAMA, Feb. 13.-There is a war cloud today hanging all over Central America, and the outlook is ominous. Advices received here this morning from San Jose, Costa Rica, say that a diplomatic mission arrived there from Salvador, renewing proposals for a triple alliance between Salvador. Costa Rico and Honduras, against Guatemala. The proposals are likely to be accepted and war be made on the larger republic at once. WASHINGTON D. C., Feb. 13.The statistics of the births in the United States today as compiled for the twelfth census, disproves the
2.February 19, 1903The ColumbianBloomsburg, PA
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CONDENSED DISPATCHES. Notable Events of the Week Briefly and Termely Told. A heat wave has struck Australia and is burning up vegetation. An American schooner was held up by a Honduras gunboat and searched. Miss Roosevelt and Miss Root were guests of honor at the New Orleans carnival. elebbrated ucur CX 'N) V his eighty-second birthday by giving a reception to 150 widows. King Edward VII., accompanied by Queen Alexandra, opened parliament. His speech was an optimistic one. The case of Potter, the Schenectady militiaman who had a fight with the labor union, is to be taken to the court of appeals. Tuesday, Feb. 17. Bremen dock laborers go on strike. The condition of Prince Christian of Saxony was pronounced much worse. President Palma of Cuba signed the naval coaling station agreement with the United States. The Southern Pacific overland limited was ditched in Nevada. Two passengers were seriously hurt, five others injured. Two passenger trains were stuck in the snow in Kansas, one on the Kansas and Southwestern and the other on the Santa Fe. The mother of Everett Coffin. injured in the Park avenue tunnel disaster in New York city, sued the Central railroad for $500,000. Wesleyan university received $25,000 from Charles Scott and his son of Philadelphia. A laboratory costing $100,000, memorial to John D. Scott, will be built. Monday. Feb. 16. The Detroit Sulphite Fiber works were destroyed by fire. The loss is $100,000 and is covered by insurance. The strike of the carders and ring spinners at the Dover (N. H.) cotton mills has assumed a more serious aspect. Ambassador Choate returned to London from his tour through the countries of the eastern Mediterranean and Egypt. The New York and Florida express of the Southern railway ran into an open switch near Washington. The fireman and engineer were killed. A mass meeting of 10,000 Macedonians was held at Sofia, Bulgaria, to protest against the action of the government in dissolving.the Macedonian committees in Bulgaria. Saturday, Feb. 14. Part of the Argentina navy department building at Buenos Ayres was burned; loss, $800,000. The French chamber of deputies suspended its session in an uproar growing out of the Humbert case charges. The First National bank of Asbury Park, N. J., has been closed by direction of the comptroller of the currency. The H. C. Frick Coke company has arranged to vaccinate its 50,000 employees and their families, 300,000 persons in all, at a cost of $10,000 for vaccine alone. Friday, Feb. 13. A British gunboat has captured three pirate vessels in the Red sea. Dr. Randall Davidson was enthroned as archbishop of Canterbury. American contributions for the relief of starving Swedes amount to more than $23,000. The coal mines in Hocking and Sunday Creek valleys, O., were shut down for lack of cars. The Gloucester fishing schooner Annie Wesley, with a crew of fourteen, is believed to have been lost.
3.February 21, 1903New-York TribuneNew York, NY
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SUBPOENA FOR ASBURY PRESIDENT. Head of Trust Company Ordered to Appear in Trenton-Apply for New Bank. [BY TELEGRAPH TO THE TRIBUNE.] Asbury Park, Feb. 20.-A subpΓ¦na was served on President Albert C. Twining of the Monmouth Trust Company to-day, commanding him to appear at Trenton to testify concerning the loan by the trust company of $22,500 to the Frazer Mountain Copper Company, of which he is president, and the purchase by the trust company of 381 shares of the stock of the First National Bank the day the latter concern was closed by the government. The subpΕna is returnable next Tuesday, when application will be made for a receiver for the trust company by Attorney General McCarter. The officials of the trust company and their friends are urging the appointment of Senator Oliver H. Brown, of Spring Lake, but the depositors want a local man named, and Councilman T. Frank Appleby and Hugh S. Kinmonth and John E. Lanning, formerly prosecutor of the pleas, are spoken of for the place. Local capitalists to-day forwarded to Washington an application for a new national bank in this city, to be known as the Seaboard National Bank. If a favorable reply is received the new bank will be placed in running order within a week. The signers of the application are Frank B. Conover, Clarence S. Steiner, James M. Ralston, John Steinbach. Henry Steinbach, Martin L. Bamman and Dr. James F. Ackerman. The new institution will be capi-, talized at $50,000. with a surplus of $50,000. The seven capitalists named have subscribed the entire amount of stock. It is probable that the National Park Bank will be its New-York correspondent.
4.February 25, 1903The Evening WorldNew York, NY
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ASBURY BANK MEN ARRESTED President Twining and Treasurer Cornell, of the Monmouth Trust and Title Company, Charged with Fraud. PRESIDENT KROEHL ASSIGNS (Special to The Evening World.) ASBURY PARK. N. J., Feb. 25.-Presdent A. C. Twining. of the Monmouth Trust Company, and Treasurer D. C. Cornell, of the same institution. were arrested at noon by County Detective Strong. charged with fraud. The bail for Twining was fixed at $5,000 and for Cornell at $4,000. Twining was not only President of the trust company. which was turned over to a receiver by Chancellor Magie, yesterday. but he was a director of the First National Bank of Asbury Park, which failed two weeks ago, and the President of the Frazer Mountain Copper Company. on the stock of which both institutions loaned a great deal of money. He borrowed from the bank and the trust company about $22,000 on his own notes and the stock of the copper company. Cornell, according to the State Bank Examiner's report, borrowed from the Trust Company. of which he was treasurer, $8,721 on his notes and collateral, now thought to be worthless or nearly so. Another charge against the two men is that Twining and Cornell, on the eve of the failure of the First National Bank, when the stock of that establishment was far below par in the market, held a company meeting with nobody but themselves present and voted to buy with the Trust Company money 381 shares of the bank at $117 a share This meeting was held Feb. 9. One of the men offered the resolution of purchase and the other seconded it, It is said. The expenditure of $44,875 in this manner created a deficiency and forced the Trust Company to close its doors. The specific charge against Twining and Cornell is for making false statements of the condition of the Monmouth Trust Company. The complaint was made by Bank Examiner Lerue Viedenberger and the warrant was served on the defendants in the streets. Both prisoners will probably secure ball this afternoon. The arrest of President Twining and
5.February 25, 1903Evening StarWashington, DC
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BANK OFFICIALS ARRESTED. Charged With Falsifying Reports of Monmouth Trust Company. ASBURY PARK, N. J., February 25.President Twining and Treasurer Cornell of the failed Monmouth Trust Company were arrested here today. The arrests were made on the street. The officials are accused of falsifying reports of the condition of the trust company, the charges being made by Bank Examiner Vredenburg. Prosecutor Foster had a conference with Judge Helsley, and it was decided to place Twining under $5,000 ball and Cornell under $4,000 bail. NEW YORK, February 25.-George F. Kroehl and Percial Kroehl, who did business under the name of Henry Kroehl, importers and dealers in bristles, made an assignment today. George F. Kroehl is president of the First National Bank of Asbury Park, who suspended last week.
6.February 25, 1903The Topeka State JournalTopeka, KS
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Kroehl Brothers Assign. New York, Feb. 25.-George F. Kroehl and Percival Kroehl, who do business under the name of Henry Kroehl, importers and dealers in bristles, made an assignment today. George F. Kroehl is president of the First National bank of Asbury Park, which suspended last week.
7.February 26, 1903Omaha Daily BeeOmaha, NE
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New York Firm Assigns, NEW YORK, Feb. 5.-George F. Kroehl and Percival Kroehl, who do business under the name of Henry Kroehl, importers and dealers in bristles. made an assignment today. George F. Kroehl is president of the First National bank of Asbury Park, which suspended last week.
8.February 26, 1903New-York TribuneNew York, NY
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MONMOUTH TRUST COMPANY OFFICIALS ARRESTED. CHARGED WITH FALSIFICATION OF STATEMENTS TO BANKING COMMISSIONER- FAILURE HERE. DUE TO ASBURY TROUBLE PREFER THREE CHARGES Twining's House Searched While G. F. and P. Krochl Assign to Protect Creditors. Wife Lay Seriously Ill. George F. and Percival Kroehi, trading as Asbury Park, N. J., Feb. 25.-Just as the exHenry Kroehl, importers and dealers in bristles, citement attending the collapse of the First at No. 220 Pearl-st., assigned to Henri PressNational Bank and the Monmouth Trust and prich yesterday. George F. Kroehl, the senior Safe Deposit Company had somewhat subsided member of the firm, is president of the First the community was startled again this noon by National Bank of Asbury Park, and is a director the arrest of President Albert C. Twining and of the Monmouth Trust Company, both of Treasurer David C. Cornell, of the trust comwhich concerns have suspended. pany, growing out of charges of falsification of John C. Robinson, of No. 115 Broadway, who statements to the State Banking and Insurance is attorney for the assignors, said yesterday that Commissioner. the assignment of George Kroehl, the senior There are three charges against Twining. in member of the firm, was attributable to his two of which Cornell is jointly charged with him offici ! connection with the two suspended comas taking part in offences alleged. The two panies, and was fled to protect his creditors. joint charges are that on December 12 Twining "Mr. Kroehl's assets," he added, "are $215,791; and Cornell submitted a false report to the his liabilities, as near as we can figure, $148,200; State Commissioner of Banking and Insurance so there is a handsome balance left. Although as to the condition of the trust company at the we think it hardly possible, his liabilities may close of business November 25. 1902; and also amount to considerably more, and he has asthat on January 20 the two submitted a false signed without a dollar of preference to any statement at the close of business December 31. creditor. 1902 The other charge against Mr. Twining "The estimate of Mr. Kroehl's liability by alone-is tlat he submitted a false statement as the representatives of the two suspended comto the number of outstanding certified checks at panies is, however, much in excess of his own the close of business December 31. The latter estimate, and their claims will be contested." charge is believed to be closely connected with The firm of Henry Kroehl is well known in the mysterious purchase of the 381 shares of the the trade, and has been in business nearly fifty First National stock on February 13. years. President Twining was apprehended as he was
9.February 28, 1903The Van Buren PressVan Buren, AR
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Made on Assignment. New York, Feb. 26. Geo. F. Kroehl and Percival Kroehl, who do business under the name of Henry Kroehl, importers and dealers in bristles, made an assignment to-day. Geo, F. Kroehl is president of the First national bank of Asbury Park, which suspended last week.
10.March 11, 1903The Abbeville Press and BannerAbbeville, SC
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TRUST CO. HEADS HELD President Twining and Treasurer Cornell Arrested at Asbury Fark. Accused by State Bank Examiner Vredenburg of Making False Statements Further Charge Against Twining. Asbury Park, N. J.-The expected arrests of President Albert C. Twining and Treasurer David C. Cornell. of the Monmouth Trust and Safe Deposit Company, were made. They were placed under bonds to appear for a hearing. It is likely the men will elect to go to the trial court if the Grand Jury sees fit to indict them. The charges against them are made by State Bank Examiner Vredenburg. who took charge of the trust company until succeeded by Receiver Lanning. They are accused in various counts. It is alleged that on December 12 last they jointly made a false statement to the State Commissioner of Banking and Insurance. and again. that on November 25 they again jointly made a false statement. It is further charged against Mr. Twining that he falsified the statement relative to outstanding certified checks at the close of business on the last day of last year. The charges do not go into specifications. but It is said that the charge which lies against Twining alone results from the transfer of the stock of the First National Bank to the trust company, which occurred on the day the two banks closed down. February 13. The charges were sworn to before Justice of the Peace C. B. Barkalow at Freehold after a conference in which Prosecutor John E. Foster took part. and in connection with which Judge Heisley was consulted. It was late when the warrants were executed. County Detective Charles Strong was intrusted with them. and he drove across country. arriving here just before daylight in the morning. He informed Chief of Police Gravatt of his mission. and also called in Constable Hulick to aid him. Policemen were set to watch every outgoing train. and the trolley cars were also watched. Constable Hulick went to the trust company offices and waited. Mr. Cornell entered about 10 o'clock and was at once placed under arrest. At about the same hour Detective Strong and Chief Gravatt arrested Twining. They had been to his house and searched it without avail, and later found him on the street. He was taken to the trust company offices. Benjamin L. Smock. a builder: Elijab C. Van Cleaf. Dr. John F. Davison. Harvey B. Johnson and Samuel A. Oiiver became bondsmen for Twining. and Mrs. Mary A. Finch. Cornell's mother-in-law by his first wife, offered his bond. Justice John A. Borden. on instructions from the Prosecutor. fixed the bonds at $5000 in Twining's case and at $4000 in Cornell's. George F. Kroehl. President of the First National Bank. has not been here for some days. His daughter and two small children are living at his house here. and it is said Mr. Krochl is staying in Brooklyn.
11.June 3, 1903New-York TribuneNew York, NY
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Elias Slivers, aged eighty-nine years, died yesterday at his home. No. 10 Longworth-st., Newark. Mr. Silvers was a resident of Newark for forty years. He was one of the original members of the First Baptist Congregation, now known as the Peddie Memorial Church. Heart disease was the cause of death. He was married three times, and had thirteen children, ten of them by his first wife. Bloomfield, N. J., June 2 (Special).-Mrs. Martha Kent, widow of Lyman Kent, died to-day at her home in East Passaic-ave. from old age. Recently she celebrated her ninetieth birthday. SUE TO RECOVER ASSESSMENTS. P. Tillinghast, a lawyer, yesterday in the United States Circuit Court began two actions in behalf of John W. Schofield, the receiver of the First National Bank of Asbury Park, against Walter S. Kirkbridge and David C. Cornell, both of this city. The suits are brought to collect the assessment made on the stockholders of the bank by the Controller of the Currency of $53 a share. Kirkbridge is the owner of two shares and Cornell of thirty-two. It is to recover these sums that the two New-Yorkers are sued.
12.December 23, 1903Santa Fe New MexicanSanta Fe., Santa Fe, NM
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IN THE DISTRICT COURT Appeal to Be Taken in Two Consolidated Mining and Smelting Company Cases. A. M. Bergere, Esq., clerk of the First Judicial District Court, is preparing the transcripts in the appeals in the cases of John W. Cooper VS. the Consolidated Mining and Smelting Company, and Ed. Hesch vs. Consolidated Mining and Smelting Company, in which the decision of the lower court was adverse to the defendant company, in money judgments. The cases will be heard at the next term of the territorial Supreme Court. The new cases have been filed in the First Judicial District Court from Taos County, i. e., T. P. Martin vs. Thomas Martinez, for $782 damages, resulting from selling sheep on shares, and T. P. Martin VS. Manuel Martinez y Gonzales and Thomas Martinez, for $980 damages, resulting from selling sheep on shares. William McKean, Esq., of Taos, is attorney for the plaintiff. A suit has been filed in the First Judicial Court from Taos County, by J. W. Scofield, receiver of the First National Bank of Asbury Park, New Jersey VS. the Fraser Mountain Coppe. Company, for $10,000 on a promissory note. A. M. Bergere, Esq., clerk of the First Judicial District Court, has appointed Frank Staplin, deputy clerk of the First Judicial District Court for Taos County for the purpose of issuing writs of attachment and writs of replevin, which will save the people of the county much inconvenience.
Santa Fe Court.
A. M. Bergere, clerk of the First judicial district court, is preparing the transcripts in the appeals in the cases of John W. Cooper vs. the Consolidated Mining and Smelting company and Ed. Hesch vs. Consolidated Mining and Smelting company, in which the decision of the lower court was adverse to the defendant company, in money judgments. The cases will be heard at the next term of the territorial supreme court.
Two new cases have been filed in the First judicial district court from Taos county, i e, T. P. Martin vs. Thomas Martinez, for $782 damages, resulting from selling sheep on shares, and T. P. Martin vs. Manuel Martinez y Gonzales and Thomas Martinez for $980 damages, resulting from selling sheep on shares. William McKean of Taos is attorney for the plaintiff.
A suit has been filed in the First judicial court from Taos county by J. W. Scofield, receiver of the First National bank of Asbury Park, New Jersey, vs. the Fraser Mountain Copper company for $10,000 on a promissory note.
A. M. Bergere, clerk of the First judicial court, has appointed Frank Staplin deputy clerk of the First judicial district court for Taos county, for the purpose of issuing writs of attachment and writs of replevin, which will save the people of the county much inconvenience.
14.July 8, 1904Evening JournalWilmington, DE
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Banker Kroehl Acquitted. Trenton , N. J., July 8.-George F. Kroehl, President of the First National bank of Asbury Park, which some time ago was put into the hands of a receiver, has been acquitted in the United States district court of the charge of making false entries in the books of the bank. The verdict was rendered by the jury under direction of the court.
15.July 13, 1904Willmar TribuneWillmar, MN
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# THE EAST.
A furious fire in Boston destroyed the Boston & Maine piers and elevator, causing $1,250,000 loss, and damaged the Allen liner Austrian. The crew of the steamer jumped overboard and three are missing.
Sentence of death by hanging was passed on Mrs. Katherine Danz, convicted in Philadelphia of murder in the first degree for poisoning her husband, William G. Danz.
Flames destroyed the Cammack cottage at Tuxedo Park, N. Y., and the jewels of Mrs. Bernard P. Steinman, of New Orleans, worth several hundred thousand dollars, were probably so damaged that they will be worthless hereafter.
President George F. Kroehl, of the First national bank, of Asbury Park, N. J., which some time ago was put into the hands of a receiver, was acquitted in the United States district court at Trenton, N. J., of the charge of making false entries in the books of the bank.
Flames destroyed the paraffine plant of the Atlantic Refining company at Philadelphia. The loss is estimated at about $100,000.
At Chautauqua, N. Y., fire threatened the entire assembly grounds and caused a loss of $75.000, on which the insurance was $20,000.
16.July 14, 1904Iron County RegisterIronton, MO
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Geo. F. Kroehl, president of the First national bank of Asbury Park, N. J., which some time ago was put into the hands of a receiver, was, on the 7th acquitted in the United States court of the charge of making false entries in the books of the bank. The verdict was found by the jury under direction of the court.
17.July 14, 1904The Sauk Centre HeraldSauk Centre, MN
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# THE EAST.
A furious fire in Boston destroyed the Boston & Maine piers and elevator, causing $1,250,000 loss, and damaged the Allen liner Austrian. The crew of the steamer jumped overboard and three are missing.
Sentence of death by hanging was passed on Mrs. Katherine Danz, convicted in Philadelphia of murder in the first degree for poisoning her husband, William G. Danz.
Flames destroyed the Cammack cottage at Tuxedo Park, N. Y., and the jewels of Mrs. Bernard P. Steinman, of New Orleans, worth several hundred thousand dollars, were probably so damaged that they will be worthless hereafter.
President George F. Kroehl, of the First national bank, of Asbury Park, N. J., which some time ago was put into the hands of a receiver, was acquitted in the United States district court at Trenton, N. J., of the charge of making false entries in the books of the bank.
Flames destroyed the paraffine plant of the Atlantic Refining company at Philadelphia. The loss is estimated at about $100,000.
At Chautauqua, N. Y., fire threatened the entire assembly grounds and caused a loss of $75,000, on which the insurance was $20,000.
18.July 15, 1904The Tupelo JournalTupelo, MS
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Geo. F. Kroehl, president of the First national bank of Asbury Park, N. J., which some time ago was put into the hands of a receiver, was, on the 7th, acquitted in the United States court of the charge of making false entries in the books of the bank. The verdict was found by the jury under direction of the court.
19.July 15, 1904The Jasper Weekly CourierJasper, IN
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Geo. F. Kroehl, president of the First national bank of Asbury Park, N. J., which some time ago was put into the hands of a receiver, was, on the 7th, acquitted in the United States court of the charge of making false entries in the books of the bank. The verdict was found by the jury under direction of the court.
# URY PARK BANKERS AGAIN ON TRIAL.
to Have Indictments Quash-
ed is Denied by Judge Lanning.
ton, Jan. 31:-Albert C. Twining
George Kroehl were placed on trial
e United States District Court yes-
y for misappropriation of funds of
irst National Bank of Asbury Park.
en were officers and directors of
k at the time the institution went
e hands of a receiver.
the jury was drawn a motion of
for the accused men to have the
int quashed was denied by Judge
Twining is already under sen-
six years' imprisonment, having
victed at a previous trial on
count in connection with the
e. His appeal in this case is
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
