Full text of Federal Reserve Bank of New York Circulars : 3414. Public Notice of Offering of $800,000,000, or Thereabouts, of 91-Day Treasury Bills

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F E D E R A L RE SER VE BANK O F NEW YORK
Fiscal Agent of the United States
0

l

\ circular No. 3 4 1 4 1

J a n u a ry 2 8 , 1949 J

P u b li c N o t ic e o f O ffe r in g o f $ 8 0 0 , 0 0 0 , 0 0 0 , o r th e r e a b o u ts , o f 9 1 -D a y T r e a s u r y B i lls
D a te d F e b r u a r y 3, 1 9 4 9

M a t u r in g M a y 5 , 1 9 4 9

To all Incorporated Banks and Trust Companies in the
Second Federal Reserve District and Others Concerned:

Following is the text of a notice today made public by the Treasury Department with respect to a new offering of Treasury
bills payable at maturity without interest to be sold on a discount basis under competitive and non-competitive bidding.
F O R R E L E A S E . M O R N IN G N E W S P A P E R S ,
TREASU RY DEPARTM ENT
Friday, January 28, 1949.
Washington
The Secretary of the Treasury, by this public notice, invites tenders for $800,000,000, or thereabouts, of 91-day Treasury
bills, for cash and in exchange for Treasury bills maturing February 3, 1949, to be issued on a discount basis under competi­
tive and non-competitive bidding as hereinafter provided. The bills of this series will be dated February 3, 1949, and will
mature May 5, 1949, when the face amount will be payable without interest. They will be issued in bearer form only,
and in denominations of $1,000, $5,000, $10,000, $100,000, $500,000, and $1,000,000 (maturity value).
Tenders will be received at Federal Reserve Banks and Branches up to the closing hour, two o’clock p.m., Eastern
Standard time, Monday, January 31, 1949. Tenders will not be received at the Treasury Department, Washington. Each
tender must be for an even multiple of $1,000, and in the case of competitive tenders the price offered must be expressed on
the basis of 100, with not more than three decimals, e. g., 99.925. Fractions may not be used. It is urged that tenders be
made on the printed forms and forwarded in the special envelopes which will be supplied by Federal Reserve Banks or
Branches on application therefor.
Tenders will be received without deposit from incorporated banks and trust companies and from responsible and
recognized dealers in investment securities. Tenders from others must be accompanied by payment of 2 percent of the
face amount o f Treasury bills applied for, unless the tenders are accompanied by an express guaranty of payment by an
incorporated bank or trust company.
Immediately after the closing hour, tenders will be opened at the Federal Reserve Banks and Branches following which
public announcement will be made by the Secretary of the Treasury of the amount and price range of accepted bids. Those
submitting tenders will be advised of the acceptance or rejection thereof. The Secretary of the Treasury expressly reserves
the right to accept or reject any or all tenders, in whole or in part, and his action in any such respect shall be final. Subject
to these reservations, non-competitive tenders for $200,000 or less without stated price from any one bidder will be accepted
in full at the average price (in three decimals) of accepted competitive bids. Settlement for accepted tenders in accordance
with the bids must be made or completed at the Federal Reserve Bank on February 3, 1949, in cash or other immediately
available funds or in a like face amount of Treasury bills maturing February 3, 1949. Cash and exchange tenders will
receive equal treatment. Cash adjustments will be made for differences between the par value of maturing bills accepted in
exchange and the issue price of the new bills.
The income derived from Treasury bills, whether interest or gain from the sale or other disposition of the bills, shall
not have any exemption, as such, and loss from the sale or other disposition of Treasury bills shall not have any special
treatment, as such, under the Internal Revenue Code, or laws amendatory or supplementary thereto. The bills shall be
subject to estate, inheritance, gift or other excise taxes, whether Federal or State, but shall be exempt from all taxation
now or hereafter imposed on the principal or interest thereof by any State, or any o f the possessions o f the United States,
or by any local taxing authority. For purposes of taxation the amount of discount at which Treasury bills are originally
sold by the United States shall be considered to be interest. Under Sections 42 and 117 (a )(1 ) of the Internal Revenue
Code, as amended by Section 115 of the Revenue Act of 1941, the amount of discount at which bills issued hereunder are
sold shall not be considered to accrue until such bills shall be sold, redeemed or otherwise disposed of, and such bills are
excluded from consideration as capital assets. Accordingly, the owner of Treasury bills (other than life insurance com ­
panies) issued hereunder need include in his income tax return only the difference between the price paid for such bills,
whether on original issue or or subsequent purchase, and the amount actually received either upon sale or redemption at
maturity during the taxable year for which the return is made, as ordinary gain or loss.
Treasury Department Circular No. 418, as amended, and this notice, prescribe the terms of the Treasury bills and
govern the conditions of their issue. Copies of the circular may be obtained from any Federal Reserve Bank or Branch.

In accordance with the above announcement tenders will be received at the Securities Department of this bank
(9th floor, 33 Liberty Street) New York 45, N. Y ., or at the Buffalo Branch of this bank (270 Main Street) Buffalo 5,
N. Y ., up to two o’clock p.m., Eastern Standard time, on Monday, January 31, 1949. It is requested that tenders
be submitted on special form printed on reverse side and returned in special envelope enclosed herewith. Payment
for the Treasury bills cannot be made by credit through the War Loan Deposit Account. Settlement must be made in
cash or other immediately available funds or in maturing Treasury bills.
A l la n Sproul President
(Extract from Treasury Department statement released for publication January 25, 1949, announcing results
after tetxders were opened for Treasury bills dated January 27, 1949 maturing April 28, 1949)
Total applied for .......... $1,514,449,000
Total accepted ..............$902,428,000 (includes $63,172,000
entered on a non-competitive basis
and accepted in full at the average
price shown below)
Average price
99.707
Equivalent rate of discount
approx. 1.160% per annum
Range of accepted competitive bids:
High .................... 99.712
Equivalent rate
approx. 1.139%
Low .................... 99.706
Equivalent rate
approx. 1.163%

of discount
per annum
o f discount
per annum

(73 percent o f the amount bid for at the low
price was accepted)




Federal Reserve
District
Boston .............................
New York ........................
Philadelphia ......................
Cleveland ..........................
Richmond ..........................
Atlanta ..............................
Chicago ..............................
St. Louis ..................•••■
Minneapolis ......................
Kansas City
Dallas . . ..........................
San Francisco ..................
Total ..........................

Total
Applied for
$ 14,850,000
1,242,184,000
21,525,000
23,795,000
5,042,000
6,024,000
93,209,000
6,010,000
8,475,000
15,280,000
16,520,000
61,535,000
---------------------$1,514,449,000

Total
Accepted
$ 13,338,000
703,311,000
12,800,000
19,428,000
5,042,000
6,024,000
56,432,000
5,783,000
7,854,000
15,226,000
16,331,000
40,859,000
$902,428,000

(ovxs)

20 S
IM PORTANT— If it is desired to bid on a competitive basis, fill in rate per 100 and
maturity value in paragraph headed “ Competitive Bid” . If it is desired to bid on a non­
competitive basis, fill in only the maturity value in paragraph headed “ Non-competitive
Bid” . DO NOT fill in both paragraphs on one form. A separate tender must be used for
each bid.
N o........................

TENDER FOR 91-DAY TREASURY BILLS
Dated February 3, 1949.

Maturing May 5, 1949.
Dated at

To F e d e r a l R e s e r v e B a n k o f N e w Y o r k ,
Fiscal Agent of the United States.

1949

COM PETITIVE BID

NON-COMPETITIVE BID

Pursuant to the provisions of Treasury
Department Circular No. 418, as amended, and
to the provisions of the public notice on
January 28, 1949, as issued by the Secretary
of
the
Treasury,
the undersigned offers

Pursuant to the provisions of Treasury
Department Circular No. 418, as amended, and to
the provisions of the public notice on January 28,
1949, as issued by the Secretary of the Treasury,
the undersigned offers a non-competitive tender

..........................................* for a total amount of

for a total amount of $ ..............................................

(Rate per 100)

(N ot to exceed $200,000)

$ ....................................................... (maturity value)
of the Treasury bills therein described, or for
any less amount that may be awarded, settlement
therefore to be made at your bank, on the date
stated in the public notice, as follows:

(maturity value) of the Treasury bills therein
described, at the average price (in three deci­
mals) of accepted competitive bids, settlement
therefore to be made at your bank, on the date
stated in the public notice, as follows:
By surrender of the maturing issue of

By surrender of the maturing issue of
Treasury

bills

............... $ ______________________

Treasury

............... $_____________________

By cash or other immediately available

By cash or other immediately available
funds ................................... $_____________________

bills

funds ................................... $_____________________

The Treasury bills for which tender is hereby made are to be dated February 3, 1949, and are to mature
on May 5, 1949.
This tender will be inserted in special envelope entitled “ Tender for Treasury bills” .
Name of Bidder
(Please print)

B y ..........

(Official signature required)

(Title)

Street Address
(City, Town or Village, P.O. No., and State)

If this tender is submitted for the account of a customer, indicate the customer’s name on line below:

(Name o f Customer)

(City, Town or Village, P.O . No., and State)

Use a separate tender for each customer’s bid.

IM PO RTANT INSTRUCTIONS:
1. N o tender for less than $1,000 will be considered, and each tender must be for an even multiple of
$1,000 (maturity value). A separate tender must be executed for each bid.
2. If the person making the tender is a corporation, the tender should be signed by an officer of the cor­
poration authorized to make the tender, and the signing of the tender by an officer of the corporation will be construed
as a representation by him that he has been so authorized. If the tender is made by a partnership, it should be signed
by a member of the firm, who should sign in the form “ ................................................................................. , a copartnership, by
............................................................................................. , a member of the firm” .
3. Tenders will be received without deposit from incorporated banks and trust companies and from respon­
sible and recognized dealers in investment securities. Tenders from others must be accompanied by payment of
2 percent of the face amount of Treasury bills applied for, unless the tenders are accompanied by an express guaranty
o f payment by an incorporated bank or trust company.
4. If the language of this tender is changed in any respect, which, in the opinion of the Secretary of the
Treasury, is material, the tender may be disregarded.

Payment by credit through War Loan Deposit Account will not

be permitted.

* Price must be expressed on the basis of 100, with not more than
three decimal places. Fractions may not be used.
T E N T B — 970-a




(o ra )

F E D E R A L R E S E R V E BANK
O F NEW YORK

January 31, 1949

To all Banking Institutions in the
State of New York and Others Concerned:

Under date of October 1, 1946, the New York State Bankers A sso­
ciation, as you probably know, published a “ Historical Directory of
the Banks o f the State of New Y o rk ” , listing the names of all State
banks, private banks, savings banks, trust companies, and national
banks that were then doing or had done a general deposit banking busi­
ness in New Y ork since 1784, together with brief references to changes
that had taken place in their organization and corporate existence. The
directory comprises a book o f more than 400 pages.
Since the publication of this directory, many changes have taken
place.

The Federal Reserve Bank o f New Yrork, by arrangement with

the author William H. Dillistin, and the publisher, presents herewith,
to all banking institutions in the State o f New York, a supplement to
that directory showing all changes to January 1, 1949.

Additional

copies of this supplement will be furnished upon request.




A

llan

S proul,

President.

Historical Directory
of the BANKS of the
STATE of NEW YORK

COMPILED BY

William H. Dillistin
Supplement No. 1
January 1, 1949

FEDERAL RESERVE BANK




OF NEW YORK
1949

HISTORICAL DIRECTORY OF THE BANKS
OF THE STATE OF N EW YORK

By arrangement with William H. Dillistin and the New York State
Bankers Association, there is presented herewith supplement No. 1 to the
"Historical Directory of the Banks of the State of New York,” which was
compiled by Mr. Dillistin and published by the Association in October,
1946.
This supplement covers the period from October 1, 1946 to January
1, 1949, and sets forth a brief statement of each addition or change affect­
ing the material in the directory, which has come to our notice since its
publication. Following the plan of the directory, the new material is pre­
sented first with respect to banks in the City of New York, and then with
respect to banks in other cities and towns, arranged in alphabetical order.
The superior letters preceding bank names follow the same arrange­
ment as in the original directory:
ABank in active operation. BOut-of-town branch of an active bank.
This supplement has been prepared by the Federal Reserve Bank of
New York, from information derived from sources believed to be reliable.
Copies are being distributed to all banking institutions in the State of New
York, and copies will be furnished to others upon request, only upon the
understanding that this bank does not warrant the completeness and ac­
curacy of the information, and is not responsible for any errors or omis­
sions.

January 1, 1949




2

HISTORICAL DIRECTORY OF THE BANKS
OF THE STATE OF N EW YORK
SU P P L E M E N T N O . 1

CITY

OF N E W

YORK

Bank o f N ew Y o rk — Name changed April 1948 to Bank o f N ew York
and Fifth Avenue Bank when The Fifth Avenue Bank o f New York
was merged into this bank.
ABank o f N ew Y o rk and Fifth A venue Bank— 1784. Formerly Bank
o f N ew York.
Boulevard Bank— Forest Hills, Queens. Absorbed May 1928 by Sterling
National Bank & Trust Company o f N ew York.
Continental Bank & Trust Com pany o f N ew Y o rk , The.

Absorbed

April 1948 by Chemical Bank & Trust Company.
Fidelity N a tion al Bank in N ew Y ork , T h e— Elmhurst, Queens. A b ­
sorbed May 1947 by Manufacturers Trust Company.
Fifth A venue Bank o f N ew Y o rk , The. Merged April 1948 into Bank
o f New York which thereupon changed its name to Bank o f N ew York
and Fifth Avenue Bank.
Nassau Banking Com pany, T h e— 1878. Reported in March 1882 as be­
ing in liquidation.

STATE

OF N E W

YORK

(Except City o f N ew Y o rk )
ADAMS
Citizens and Farmers Trust C om pany, Adam s, N ew Y ork .

Merged

March 1947 into The Northern New Y ork Trust Company, Watertown.
RN orth ern N ew Y o r k Trust Com pany, T h e, W atertow n.
ALBANY
AA lban y Savings Bank— 1820. Should read as stated and not "T h e A l­
bany Savings Bank."
in d u s t r ia l Bank o f C om m erce o f A lban y— 1915. Formerly Morris Plan
Industrial Bank o f Albany.
M orris Plan Industrial Bank o f Albany.

Name changed November

1946 to Industrial Bank o f Commerce o f Albany.




3

ANational Commercial Bank and Trust Company of Albany, The
(1301)— 1865. Operates an out-of-town branch at Rensselaer in ad­
dition to those previously listed.
AState Bank of Albany— 1937. Operates out-of-town branches at Menands and Watervliet in addition to those previously listed.
ARLINGTON

BFirst National Bank of Poughkeepsie, The.
Vassar Bank. Consolidated February 1947 with The First National Bank
of Poughkeepsie.
ATTICA

Bank of Attica, The. Merged November 1946 into The Marine Trust
Company of Buffalo.
BMarine Trust Company of Buffalo, The.
BINGHAMTON

AFirst National Bank of Binghamton, N . Y . (2 0 2 )— 1864. Originally
First National Bank of Binghamton. Name changed January 1947.
AMarine Midland Trust Company of Binghamton— 1910. Operates an
out-of-town branch at Endicott.
BOONVILLE

Bank of Boonville. Private bank established March 1866 with Joseph R.
Tharratt as president and Clark Dodge as cashier. Succeeded 1876 by
The First National Bank of Boonville.
Dodge & Sharratt (Tharratt). Delete. (See Bank of Boonville.)
AFirst National Bank of Boonville, The (2320)— 1876.
Bank of Boonville.

Succeeded

BUFFALO

AManufacturers and Traders Trust Company— 1893. Operates out-oftown branches at Ebenezer and Eggertsville in addition to those previ­
ously listed.
AMarine Trust Company of Buffalo, The— 1919. Operates an out-oftown branch at Attica in addition to those previously listed.
Szczukowski, Victor B. Private banker established 1921. Absorbed De­
cember 1930 by The East Side National Bank of Buffalo.
CANANDAIGUA

BLincoln Rochester Trust Company, Rochester.
Ontario County Trust Company. Merged February 1948 into Lincoln
Rochester Trust Company.




4

COHOFS
M anufacturers Bank o f C ohoes, The. Absorbed August 1948 by The
National City Bank o f Troy.

BNational City Bank of Troy, The.
COPENHAGEN
C open h agen N ation al Bank, The.

Absorbed October 1947 by The

Northern N ew Y ork Trust Company, Watertown.

BNorthern New York Trust Company, The, Watertown.
CORNING

Corning Trust Company. Absorbed January 1948 by Lincoln Rochester
Trust Company.
BLincoln Rochester Trust Company, (2 ) Rochester.
CROWN POINT

Wyman, J. W . Voluntary liquidation January 1948.
DANSVILLE

Citizens Bank & Trust Company. Merged September 1947 into Security
Trust Company of Rochester.
BSecurity Trust Company of Rochester.
EASTCHESTER

BFirst National Bank & Trust Company of Tuckahoe, The.
EAST WORCESTER

Mitchell & Co., P. H. Private bankers at Schenevus 1876-84; were also
acting as such at East Worcester in 1875.
EBENEZER

Ebenezer State Bank, The. Merged May 1948 into Manufacturers and
Traders Trust Company, Buffalo.
BManufacturers and Traders Trust Company, Buffalo.
EGGERTSVILLE

BManufacturers and Traders Trust Company, Buffalo.
ENDICOTT

AEndicott Trust Company— 1919-

Operates an out-of-town branch at

Vestal.




5

BMarine Midland Trust Company of Binghamton.
U n ion Trust Com pany o f Endicott. Merged December 1946 into M a­
rine Midland Trust Company o f Binghamton.
FAYETTEVILLE

BMerchants National Bank & Trust Company of Syracuse, The.
HORNELL

Barnes & C o., C. Private Bankers in 1864.
IRONDEQUOIT

BGenesee Valley Trust Company, Rochester.
LARCHMONT

Bank of Westchester, The, Yonkers (Branches, 2 ). Merged July 1947
into The County Trust Company, W hite Plains.

BCounty Trust Company, The, ( 2 ) W hite Plains. Formerly branches o f
The Bank o f Westchester, Yonkers.
LIMA

BGenesee Valley Trust Company, Rochester.
LYNBROOK

APeoples National Bank of Lynbrook, The (1 1 6 0 3 )— 1920. Formerly
The Peoples National Bank and Trust Company o f Lynbrook. Name
changed January 1947.
MENANDS

BState Bank of Albany.
MOUNT KISCO

Bank of Westchester, The, Yonkers (Branch). Merged July 1947 into
The County Trust Company, W hite Plains.

bounty Trust Company, The, White Plains. Formerly a branch of The
Bank of Westchester, Yonkers.
NEW BERLIN

BNational Bank and Trust Company of Norwich, The.
National Bank of New Berlin, The. Consolidated December 1946 with
The National Bank and Trust Company o f Norwich.
NORWICH

ANational Bank and Trust Company of Norwich, The ( 1 3 5 4 ) — 1865.
Operates an out-of-town branch at New Berlin in addition to those
previously listed.




6

PORT CHESTER

BCounty Trust Company, The, (2 ), White Plains.
Washington Irving Trust Company. M erged July 1947 into The Coun­
ty Trust Company, W hite Plains.
PORT JEFFERSON
ABank o f N orth ern Brookhaven, T h e— 1889. Originally The Bank o f
Port Jefferson.
Bank o f Port Jefferson, The. Name changed to The Bank o f Northern
Brookhaven when The First National Bank o f Port Jefferson was
merged into this bank.

First National Bank of Port Jefferson, The. M erged April 1948 into
The Bank o f Port Jefferson which thereupon changed its name to The
Bank o f Northern Brookhaven.
POUGHKEEPSIE

AFirst National Bank of Poughkeepsie, The (4 6 5 ) — 1864. Operates an
out-of-town branch at Arlington.
RENSSELAER

^National Commercial Bank and Trust Company of Albany, The (2 ).
Rensselaer County Bank and Trust Company.

Absorbed December

1947 by The National Commercial Bank and Trust Company o f A l­
bany.
ROCHESTER

AGenesee Valley Trust C om pany— 1901. Operates out-of-tow n branches
at Irondequoit and Lima in addition to one previously listed.

ALincoln

Rochester

Trust

Company— 1893.

Operates

out-of-town

branches at Canandaigua and Corning in addition to those previously
listed.

ASecurity Trust Company of Rochester— 1892. Operates an out-of-town
branch at Dansville in addition to those previously listed.
SCHENECTADY

Union National Bank of Schenectady, The. Absorbed May 1947 by
The Schenectady Trust Company.
SYRACUSE

ASyracuse Trust Company, The— 1903. Operates an out-of-town branch
at Tully in addition to one previously listed.

AMerchants National Bank & Trust Company of Syracuse, The (1342)
— 1865. Operates an out-of-tow n branch at Fayetteville in addition to
one previously listed.




7

TARRYTOW N
BC ounty Trust Com pany, The, W h ite Plains.

Formerly a branch o f

W ashington Irving Trust Company, Port Chester.
W a sh in g ton Irvin g Trust Com pany (B r a n ch ). M erged July 1947 into
The County Trust Company, W hite Plains.
TROY
AN ation al City Bank o f T roy , T he (7 6 1 2 ) — 1905. Operates an out-oftown branch at Cohoes.
T ro y Prudential A ssociation, Inc. Voluntary liquidation April 1947.
TUCKAHOE
AFirst N a tion al Bank & Trust Com pany o f Tuckahoe, T h e (1 0 5 2 5 )
-— 1914. Operates an out-of-town branch at Eastchester.
TULLY
First N a tion al Bank o f T u lly, The. Absorbed June 1948 by The Syra­
cuse Trust Company.
BSyracuse Trust Com pany, The.
VESTAL
BE’n dicott Trust Com pany.
WATERTOWN
AN orth ern N e w Y o rk Trust Com pany, T h e— 1910.

Operates out-of-

town branches at Adams and Copenhagen in addition to those previ­
ously listed.
WATERVLIET
N a tion al Bank o f W atervliet, T he. Absorbed April 1948 by State Bank
o f Albany.
BState Bank o f A lban y.
WHITE PLAINS
AC ou n ty Trust C om pany, T h e— 1903. Operates out-of-tow n branches at
Larchmont ( 2 ) , M ount Kisco, Port Chester ( 2 ) , Tarrytown, and Y o n ­
kers ( 2 ) in addition to those previously listed.
YONKERS

Bank o f Westchester, The. M erged July 1947 into The County Trust
Company, W h ite Plains.

bou n ty Trust Company, The, (2 ), White Plains.




F E D E R A L R E S E R V E BANK
O F NEW YORK

January 31, 1949

To all Banking Institutions
in the State of New Jersey,
and Others Concerned:

Under date of March 31, 1942 the New Jersey Bankers Associa­
tion, as you probably know, published a “ Directory of New Jersey
Banks 1804-1942” , listing the names of all State banks, private banks,
savings banks, trust companies, and national banks that were then
doing or had done a general deposit banking business in New Jersey
since 1804, together with brief references to changes that had taken
place in their organization and corporate existence.
Since the publication o f this directory, many changes have taken
place. The Federal Reserve Bank o f New York, in cooperation with
the Federal Reserve Bank o f Philadelphia and by arrangement with
the author W illiam H. Dillistin, and the publisher, presents herewith,
to all banking institutions in the State of New Jersey, a supplement to
that directory showing all changes to January 1, 1949.

Additional

copies o f this supplement will be furnished upon request.




A

llan

S proul,

President.

DIRECTORY
OF

NEW JERSEY BANKS
COMPILED BY

William H. Dillistin

Supplement No. 2
(Cumulative)
January I, 1949

FEDERAL RESERVE BANK




OF N EW YORK
1949

DIRECTORY OF NEW JERSEY BANKS
1804

-

1942

By arrangement with William H. Dillistin and the New Jersey
Bankers Association, there is presented herewith supplement No. 2
(cumulative) to the “ Directory of New Jersey Banks 1804-1942,” which
was compiled by Mr. Dillistin and published by the Association in 1942.
It supersedes supplement No. 1 dated December 15, 1945.
This supplement covers the period from March 31, 1942 to January
1, 1949, and sets forth a brief statement of each addition or change
affecting the material in the directory, which has come to our notice
since its publication.

An asterisk (* ) preceding the bank name, as

heretofore, indicates an active bank or a branch of an active bank. Fol­
lowing the plan of the directory, the new material is set forth with re­
spect to the banks in the various cities and towns, arranged in alpha­
betical order.
The supplement also includes the name and location of each bank
that now operates a branch or branches outside of its head office city,
together with the location of each such branch— information which has
not been shown heretofore.
This supplement has been prepared by the Federal Reserve Bank of
New York in cooperation with the Federal Reserve Bank of Philadel­
phia, from information derived from sources believed to be reliable.
Copies are being distributed to all banking institutions in the State of
New Jersey, and will be furnished to others upon request, only upon
the understanding that the Federal Reserve Bank of New York does not
warrant the completeness and accuracy of the information, and is not
responsible for any errors or omissions.

January 1. 1949



2

DIRECTORY OF NEW JERSEY BANKS
1804

-

1942

SUPPLEMENT NO. 2
(Cumulative)
ASBURY PARK
*Aabury Park and Ocean Grove Bank—1889
Operates out-of-town branches at Neptune and Ocean Grove.
ATLANTIC CITY
Equitable Trust Company
Charter surrendered December 1946.
BAYONNE
Bayonne Trust Company
Absorbed September 1948 by Commercial Trust Company of New Jersey,
Jersey City.
•Commercial Trust Company of New Jersey. Jersey City (Branches. 3).
CAMDEN
♦Camden Trust Company— 1873
Operates out-of-town branches at Blackwood, Gloucester City, and Haddonfield.
*First Camden National Bank and Trust Company (1209)— 1812
Operates an out-of-town branch at Haddon Heights; and also at Phila­
delphia, Pennsylvania.
EAST ORANGE
‘ Savings Investment & Trust Company—1892
Operates out-of-town branches at Orange and South Orange.
ELIZABETH
*Eli2 abeth Savings Bank— 1900
A conversion of Germania Mutual Savings Association.
Eliiabeth Trust Company
Merged December 1947 into Union County Trust Company.
Germania Mutual Savings Association
Converted September 1947 into Elizabeth Savings Bank.
*Harmonia Savings Bank— 1851
A conversion of Mutual Savings Fund Harmonia.
Mutual Savings Fund Harmonia
Converted July 1947 into Harmonia Savings Bank.
‘ Union County Trust Company— 1902
Operates an out-of-town branch at Cranford.




ELMER
Elmer Bank
Operating in October 1889. Period of existence not ascertained.
ENGLEWOOD
Palisades Trust and Guaranty Company
Name changed January 1946 to Palisades Trust Company.
‘ Palisades Trust Company— 1902
Originally Palisades Trust and Guaranty Company.
FLEMINGTON
‘ Hunterdon County National Bank of Flemington. The (892)— 18S4
Operates out-of-town branches at High Bridge, Lambertville, and White
House Station.
GARWOOD
First National Bank of Garwood, The
Absorbed April 1942 by The Westfield Trust Company.
*Westfield Trust Company, The (Branch).
GUTTENBERG
‘ Hudson County National Bank, Jersey City (Branch).
Liberty National Bank in Guttenberg
Absorbed July 1948 by Hudson County National Bank, Jersey City.
HACKENSACK
‘ Peoples Trust Company of Bergen County—1916
Operates out-of-town branches at Hasbrouck Height1?, Lodi, Teaneck, and
Westwood.
HARRISON
‘ First National Bank of Jersey City, The (Branch).
Harrison National Bank, The
Absorbed August 1945 by The First National Bank of Jersey City.
‘ West Hudson County National Bank of Harrison
Operates an out-of-town branch at Kearny.
HIGH BRIDGE
First National Bank of High Bridge, The
Absorbed September 1947 by The Hunterdon County National Bank of
Flemington.
‘ Hunterdon County National Bank of Flemington, The (Branch).
JERSEY CITY
‘ Commercial Trust Company of New Jersey— 1900
Operates three out-of-town branches at Bayonne.
‘ First National Bank of Jersey City, The (374)—1864
Operates out-of-town branches at Harrison, Hoboken, and West New York.




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‘ Hudson County National Bank (1182)— 1851
Operates out-of-town branches at Bayonne and Guttenberg.
International Trust Company
Date established not ascertained. Suspended February 1878.
‘ Trust Company of New Jersey, The— 1899
Operates out-of-town branches at Hoboken, Union City, Weehawken, and
West New York.
LAKEHURST
First National Bank oi Lakehurst, The
Absorbed October 1947 by The First National Bank of Toms River, N. J.
‘ First National Bank oi Toms River, N. J., The (Branch).
LAMBERTVILLE
Amwell National Bank oi Lambertville, The
Absorbed October 1948 by The Hunterdon County National Bank of Flem­
ington.
‘ Hunterdon County National Bank of Flemington, The (Branch).
MAPLE SHADE
‘ Burlington County Trust Company, Moorestown (Branch)
Established August 1945.
MOORESTOWN
Burlington County Trust Company— 1890
Operates an out-of-town branch at Maple Shade.
MORRISTOWN
American Trust Company
Merged September 1946 into The Morristown Tru9t Company.
First National Bank of Morristown. The
Consolidated July 1944 with The National Iron Bank of Morristown which
thereupon changed its name to The First National Iron Bank of Morris­
town.
‘ First National Iron Bank of Morristown, The (1133)— 1865
Formerly The National Iron Bank of Morristown. Operates an out-of-town
branch at Rockaway.
National Iron Bank of Morristown, The
Name changed July 194i to The First National Iron Bank of Morristown
when The First National Bank of Morristown was consolidated with this
bank.
NEWARK
Clinton Trust Company
Absorbed December 1947 by Fidelity Union Trust Company.
Columbus Trust Company
Absorbed July 1948 by United States Trust Company of Newark.




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‘ Fidelity Union Trust Company— 1875
Operates two out-of-town branches at East Orange.
‘ United States Trust Company of Newark
Operates an out-of-town branch at Irvington.
NORTH MERCHANTVILLE
‘ Pennsauken Township National Bank (12903)— 1928
Originally The Pennsauken Township National Bank of North Merchantville.
Pennsauken Township National Bank of North Merchantville. The
Name changed April 1945 to Pennsauken Township National Bank.
PALMYRA
‘ Cinnaminson Bank and Trust Company, Riverton (Branch)
Established June 1948.
PATERSON
Commercial National Bank of Paterson
Formerly National Union Bank of America in Paterson. Consolidated No­
vember 1945 with The Second National Bank of Paterson.
‘ First National Bank and Trust Company of Paterson (329)—18S4
Formerly First Paterson National Bank and Trust Company.
First National Bank of Paterson, The
Name changed May 1946 to First Paterson National Bank and Trust Com­
pany when The Paterson National Bank was consolidated with this bank.
First Paterson National Bank and Trust Company
Originally The First National Bank of Paterson. Name changed October
1948 to First National Bank and Trust Company of Paterson when The
Second National Bank of Paterson was consolidated with this bank.
National Union Bank of America in Paterson
Name changed January 1944 to Commercial National Bank of Paterson.
Paterson National Bank, The
Consolidated May 1946 with The First National Bank of Paterson which
thereupon changed its name to First Paterson National Bank and Trust
Company.
‘ Paterson Savings and Trust Company, The— 1869
A conversion of The Paterson Savings Institution.
Paterson Savings Institution. The
Converted September 1947 into The Paterson Savings and Trust Company.
Second National Bank of Paterson, The
Consolidated October 1948 with First Paterson National Bank and Trust
Company which thereupon changed its name to First National Bank and
Trust Company of Paterson.
PORT NORRIS
‘ People's Bank of Port Norris, The— 1944
Established May 1944.




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RIVERTON
‘ Cinnaminson Bank and Trust Company
Operates an out-of-town branch at Palmyra.
RUTHERFORD
‘ Rutherford National Bank. The (5005)— 1895
Operates out-of-town branches at Carlstadt, East Rutherford, and Lyndhurst, (2).
SEASIDE HEIGHTS
‘ First National Bank of Toms River. N. J., The (Branch)
Established originally in June 1944 as a branch of Ocean County Trust
Company, Toms River.
TEANECK
‘ Garden State National Bank of Teaneck, The (12402)— 1923
Formerly The West Englewood National Bank.
West Englewood National Bank, The
Name changed June 1948 to The Garden State National Bank of Teaneck.
TOMS RIVER
‘ First National Bank of Toms River, N. J., The (2509)— 1881
Operates out-of-town branches at Lakehurst and Seaside Heights.
Ocean County Trust Company
Consolidated September 1944 with The First National Bank of Toms Riv­
er, N. J.
UNION CITY
Commonwealth-Merchants Trust Company
Name changed January 1946 to Commonwealth Trust Company.
‘ Commonwealth Trust Company— 1905
Formerly Commonwealth-Merchants Trust Company. Operates out-of-town
branches at North Bergen and Weehawken.
First National Bank of Union City, The
Absorbed December 1946 by Hudson Trust Company.
‘ Hudson Trust Company— 1890
Operates two out-of-town branches at Hoboken.
WEEHAWKEN
‘ Commonwealth Trust Company, Union City (Branch).
Hamilton National Bank of Weehawken. The
Absorbed December 1942 by Commonwealth-Merchants Trust Company,
Union City.
WEST ENGLEWOOD (See Teaneck)




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WEST NEW YORK
‘ First National Bank oi Jersey City, The (Branch).
National Bank of West New York
Absorbed December 1944 by The First National Bank of Jersey City.
WESTFIELD
‘ Westfield Trust Company, The— 1903
Operates out-of-town branches at Garwood and Scotch Plains.
WHITE HOUSE STATION
‘ Hunterdon County National Bank of Flemington, The (Branch).




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