First National Bank (Pleasantville, NJ)

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SCHOOL CASH RULED GENERAL DEPOSIT

Pleasantville's Trust Fund Contention Denied in Bank Liquidation

Federal Judge John Boyd Avis in United District Court here tion the deposit National Bank trust fund not subject to liquidation by the bank's Alonzo The deposited in the by Martin ruary 1933 the day bank the payable the order First National Bank of The city sought ruling to the effect because private clearing arrangement between two the of the check National automatically set as trust in hands of the PleasNational Judge Avis many decisions including by court Miami Fla March against presumption of trust fund in the

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JERSEY BANKS Can't You Just Hear the Wedding Bells? NEW LOANED $481,000

Hightstown Trust Company Among Those to Sell Stock to RFC

By The Associated Press WASHINGTON, Sept. 24.-The Reconstruction Finance Corporation announced today that for the month of July, 1934, it authorized loans totaling $481,000 to banks and trust companies in New Jersey. The following loans were authorized, no part of which had been disbursed up to July 31: The First National Bank of Columbus, receiver, $20,000; The First National Bank of Pleasantville, conservator, $360,000; The Pleasantville National Bank receiver. $35,000; The First National Bank of Port Norris, receiver, $50,000. and the Westmont National Bank, receiver, $16,000. A loan of $22,500 also was authorized to the Manufacturers Loan Company of Jersey City, no part of which had been disbursed up to the end of the month The corporation during the month authorized subscriptions for preferred stock in 12 New Jersey institutions, none of which had been disbursed up to July 31 They follow: The Dover Trust Company $175,000; The Gloucester City Trust Company, $60,000 The Haddonfield National Bank, $200,000: Hights town Trust Company, $50,000; The First National Bank of Marlton. $15,000; The Penn's Grove National Bank and Trust Company, $50,000; Plainfield Trust Company, $750,000; Princeton Bank and Trust Company, $300,000; South Orange Trust Company, $75,000; The First National Bank of Springfield, $25,000; The Swedesboro National Bank, $50,000. and the Tenafly Trust Company, $100,000.

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2 Pl'ville Banks GetR.F.C.Loans

Allot $360,000 to First National and $35,000 for Pleasantville National

WASHINGTON Sept. 24 (AP).The Reconstruction Finance Corporation announced today that for the month of July, 1924, it authorized loans totaling banks and trusts companies in New Jersey The following loans were authorized, no part of which had been disbursed up to July 31: The First National Bank of Columbus, receiver, $20,000; The First National Bank of Pleasantville, conservator $360,000; the Pleasontville National Bank, receiver, $35,000; The First National Bank of Port Norris, receiver. $50,000, and the Westmont National Bank, receiver, $16,000. loan of $22,500 also was authorized to the Manufacturers' Loan Company, of Jersey City, no part of which had been disbursed up to the end of the month. The during the month authorized subscriptions for preferred stock in 12 New Jersey institutions, none of which had been disbursed up to July 31. They follow The Dover Trust Company $175,000; The Gloucester City Trust Company, $60,000; the Haddonfield National Bank, $200,000; Hightstown Trust Company, $50,000; The First National Bank of Marlton, $15,000; The Pennsgrove National Bank and Trust Company, $50,000; Plainfield Trust Company, $750,000; Princeton Bank and Trust Company, $300,000; South Orange Trust Company. $75,000; The First National Atlantic City Hotels

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Takes Over Pl'ville Bank

Morstadt, Receiver for Somers Point National, Succeeds Bertman

George E. Morstadt, present receiver of the Somers Point National Bank, has been named receiver for the First National Bank of Pleasantville, it was learned yesterday. The receiverships of the two institutions have been merged.

Morstadt succeeds Charles Bertman at Pleasantville. Bertman died several days ago after an operation for appendicitis. Morstadt was once cashier of the Seaside Trust Company here.

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Morstadt, Receiver for Somers Point National, Succeeds Bertman

George E. Morstadt, present receiver of the Somers Point National Bank, has been named receiver for the First National Bank of Pleasantville, it was learned yesterday. The receiverships of the two institutions have been merged.

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George E

Morstadt, present receiver of the Somers Point National Bank, has been named receiver for the First National Bank of Pleasantville, it was learned yesterday. The receiverships of the two institutions have been merged.

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Takes Over Pl'ville Bank

Morstadt, Receiver for Somers Point National, Succeeds Bertman

George E. Morstadt, present receiver of the Somers Point National Bank, has been named receiver for the First National Bank of Pleasantville, it was learned yesterday. The receiverships of the two institutions have been merged.

Morstadt succeeds Charles Bertman at Pleasantville. Bertman died several days ago after an operation for appendicitis. Morstadt was once cashier of the Seaside Trust Company here.

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Morstadt, Receiver for Somers Point National, Succeeds Bertman

George E. Morstadt, present receiver of the Somers Point National Bank, has been named receiver for the First National Bank of Pleasantville, it was learned yesterday. The receiverships of the two institutions have been merged.

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Upholds Bank Receiver

Federal Court Denies Application in Suit of Pleasantville Woman

CAMDEN, June 14 (AP)—Federal Judge John Boyd Avis today denied an application by Mrs. Clara A. Sooy, of Pleasantville, for a bill of particular from the receiver of the closed First National Bank, of Pleasantville, giving reason for an assessment against her.

George W. Morstadt, the receiver, contended in moving for dismissal of the application that Mrs. Sooy's stock in the bank had been assigned to her by her father, A. J. Anderson, to avoid a $1000 assessment, representing $100 on each of ten shares.

Morstadt, through counsel, also held Mrs. Sooy was not entitled to the bill of particulars because the procedure in affairs of the closed bank was in the hands of the U. S. Comptroller of the Currency. Judge Avis upheld the receiver, citing a Supreme Court decision in support of his decision.

Racing a motor when starting is harmful because many points haven't had time to become thoroughly lubricated.

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Upholds Bank Receiver

Federal Court Denies Application in Suit of Pleasantville Woman

CAMDEN, June 14 (AP)—Federal Judge John Boyd Avis today denied an application by Mrs. Clara A. Sooy, of Pleasantville, for a bill of particular from the receiver of the closed First National Bank, of Pleasantville, giving reason for an assessment against her.

George W. Morstadt, the receiver, contended in moving for dismissal of the application that Mrs. Sooy's stock in the bank had been assigned to her by her father, A. J. Anderson, to avoid a $1000 assessment, representing $100 on each of ten shares.

Morstadt, through counsel, also held Mrs. Sooy was not entitled to the bill of particulars because the procedure in affairs of the closed bank was in the hands of the U. S. Comptroller of the Currency. Judge Avis upheld the receiver, citing a Supreme Court decision in support of his decision.

Racing a motor when starting is harmful because many points haven't had time to become thoroughly lubricated.

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Named Bank Receiver

Morstadt to Act for Pleasantville National, Succeeding Tweedale

George E. Morstadt, receiver for the First National Bank of Somers Point and the First National Bank of Pleasantville, has been appointed receiver for the Pleasantville National Bank. He succeeds Alonzo Tweedale, who has been transferred to Washington, D. C., after two and a half years as receiver for the Pleasantville National, which closed Feb. 4, 1933. Dividends of about 15 per cent have since been paid.

Morstadt has served as receiver for the Somers Point bank for the past two years, during which time 50 per cent in dividends has already been paid.

Following the death of Charles Bertman, receiver for the First National Bank of Pleasantville, in May, Morstadt was named Bertman's successor. Dividends of 25 per cent have been paid.

Prior to the formation of the Mainland National Bank as a part of the plan for re-organization of the First National of Pleasantville, T. B. Wootton was conservator during the period of the bank's operation on a restricted basis.