Northside Trust Company (Atlantic City, NJ)

Episode Information

Episode UID
55069171598
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
5506917 routing
Routing Number
55-0691
Start Date
February 9, 1933
Location
Atlantic City, New Jersey (39.364, -74.423)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a03384d39b370732

Response Measures

None

Description

Documents state the bank is in liquidation and a receiver/receivership is referenced.

Events (2)
1. February 9, 1933 Suspension
Cause
Government Action
Cause Details
Placed in liquidation and under a receiver; bank closed and business turned over for liquidation.
Newspaper Excerpt
Northside Trust Company (in liquidation)
Source
newspapers
2. January 21, 1934 Receivership
Newspaper Excerpt
When the Northside Trust Company turned over its business to the Atlantic City National Bank for liquidation, this trust fund went with the other funds of the Northside...this fund was frozen. Demand for the fund was refused ... under the receivership.
Source
newspapers

Newspaper Articles (3)
1. February 9, 1933 Press of Atlantic City Atlantic City, NJ
Article from Press of Atlantic City, February 9, 1933

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Article Text

Duell Brings Suit for Access to Safe Deposit Box receiver charge One government closed Atlantic City banks The misunderstanding on access deposit appearing times the day's action before Fedyesterday Judge attorney in the Duell, Chelsea National Bank brought tested Judge tomorrow Duell has other papers deposit box the National Bank which he obtain, claims that Charles receiver representative the Comptroller refuses to permit him the open the Yesterday reporter mimethe which ographed copy the the closed are asking boxholders sign and cute before. they are permitted their the boxes, rented year formal address the After ceiver and blank for insertbox number and the leasee's instrument certifies name. the affiant "not indebted to the Atlantic City National Northside Trust Company (in liquidation) Union National Bank either endorser guarantor, rectly indirectly, notes other form obligation held any the said any The also asked and sayeth that he not holder shares the capital (Continued on Page

2. February 9, 1933 Press of Atlantic City Atlantic City, NJ
Article from Press of Atlantic City, February 9, 1933

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Article Text

Duell Brings Suit for Acto Safe Deposit cess Box receiver in charge One government Atlantic City banks closed the courts. access The deposit boxes, times the action before yesterday Judge Duell, attorney the Charles Chelsea National Bank which will brought action, tested Duell other papers deposit the National Bank which Second claims that Faircloth, receiver and Charles of the representative refuses permit him the open reporter saw mimeYesterday affidavit which ographed the closed banks are boxholders sign and asking alleged, they their keys in the permitted boxes, rented by year. formal address the After and blank space for insertceiver number and the leasee's the box certifies that name, affiant "not indebted to the Atlantic City National Northside Trust Company Union Naliquidation) Bank either tional maker, endorser guarantor, rectly indirectly any form obligation held any other the said banks. boxholder asked and sayeth that he shares of the capital holder any (Continued on Page Five)

3. January 21, 1934 Press of Atlantic City Atlantic City, NJ
Article from Press of Atlantic City, January 21, 1934

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Article Text

Fund For Students' Prizes Arrested With Two Women Frank Poucher, Donor of Fund for Vocational School, and Board of Education, Enter Suit in Camden, Suspected of Passing Counterfeit Bills Against Atlantic City National Bank There will be battle in the United States courts at an early date recovery of trust fund originally set up in the Northside Trust Company for the purpose of buying prizes for VocationSchool pupils. The defendant Lawrence Slaughter, receiver for closed Atlantic City National suit was at first started in the State Chancery Court, but upon motion of counsel for the bank ceiver been by Vice Chancellor Sooy to the federal courts. Frank Poucher president of the Atlantic City Sewerage Company, and donor of the fund, and the Board of Education are the complainants. Mr. Poucher for time been interested in the work vocational schools. About three years ago, in addition placing land which he owned the disposal of the boys for games, Mr. Poucher placed the Northside Trust Company trust fund. Both princiand income were to be used for the purchase prizes to be awardfor athletic contests and other school activities. When the Northside Trust Company turned over its business to the Atlantic City National Bank for liquidation, this trust fund went the other funds of the Northside Following the closing of the Atlantic City National Bank January, this fund was frozen. Demand for the fund was refused Mr. His position that the prize fund merged the other funds of the bank, and cannot be paid over, except other monies are paid depositors when dividends declared under the receivership But Mr. Poucher, represented by Walter the school board, for whom Ralph Harcourt counsel, that this money was placed the Northside trust and should be considered trust and so disposed of.