Union Trust Company (San Francisco, CA)

Episode Information

Episode UID
11006171276
Episode Type
Suspension → Reopening
Bank Type
trust
Bank ID
1100617 routing
Routing Number
11-0061
Start Date
April 18, 1906
Location
San Francisco, California (37.780, -122.419)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a7b7670cdfaf523c

Response Measures

None

Description

The bank suspended operations due to the 1906 San Francisco earthquake and fire, which physically prevented access to vaults and led to a general banking holiday. It reopened for full business in late May 1906.

Events (2)
1. April 18, 1906 Suspension
Cause
Local Shock
Cause Details
The 1906 San Francisco earthquake and fire caused a city-wide suspension of banking as vaults were inaccessible and the city was under martial law.
Newspaper Excerpt
The directors of the Wells Fargo-Nevada National Bank and the directors of the Union Trust Company have decided not to raise their call loans and not to raise current interest above the rates April 18.
Source
newspapers
2. May 23, 1906 Reopening
Newspaper Excerpt
As a result of the opening of banks for unrestricted business building operations are given a great - impetus... At the Union Trust company the deposits exceeded the withdrawals tenfold.
Source
newspapers

Newspaper Articles (3)
1. April 26, 1906 Durango Semi-Weekly Herald Durango, CO
Article from Durango Semi-Weekly Herald, April 26, 1906

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Article Text

later and learned that the grocer nad resumed the practice of extortion The soldier then sent a man into the store to buy a joat of bread, and the grocer wanted a dollar for it. He then reprimanded him again and warned him and the grocer then nail ed boards in front of his store and refused to sell any goods at all. With the butt of a rifle the soldier smashed the baricade and was attacked by the grocer, his wife and boy. Other soldiers then came to the assistance of their comrade and fired several shots killing the grocer, his wife and boy." SAN FRANCISCO, April 23.-The disaster proves conclusively that modern steel structures will withstand earthquake shocks, and the citizens of San Francisco feel this is the. best argument for the rebuilding of the city. Street car service was resumed in the outlying districts yesterday. Hag ard laborers are preparing the tracks Market street, where hoped will be running in a on cars it few is days. The vaults of the Western National bank, in the James Flood building were found intact, as were those of the Union Trust company and these institutions will résume in a few days, when the financial stress will be alleviated somewhat. The walls of the Call building, Fairmont hotel, mint, postoffice and half a dozen other steel frame buildings are sound enough to stand with repairs. All other walls left standing will be torn down. When the work of rebuilding be gins there will be employment for thousands of laborers. No one can gain admission to the city, however, without a pass from General Funston has the practical value of been so automobiles Never demonstrated brought from Dozens of these vehicles towns have and rush about surrounding into service been the pressed carry- city wherever the streets are open, ing the injured, infirm and supplies to camps and hospitals. They have been the means of saving thousands of lives. SAN FRANCISCO, April 23.-Toof the sights to light. some day's sad cleaning debris The brings start- numbodies found is If the average of ingly ber of large. human number keeps up, corpses found this morning the death list will run over 3,000. Martial law is still in active effect. The breaking out of fire in the huge coal bunkers, causing the Ferry house to be threatened this morning, _put thousands of people again in a state of panic, which the soldiers had much trouble to allay. Numerous concerns have opened up headquarters in Oakland and have will assured their employes that they provide for them until regular busi ness is resumed. Several banks have opened up of nces in Oakland. CHEYENNE, Wyo., April 23.-Up have noon today 40 relief trains San passed to here on their way to Francisco. Six of these specials pass- this during the night, and 12 the ed forenoon. These trains have right of way even over the Overland Limited. SAN FRANCISCO, April 23.-After at of the burned district the inspection the insurance men decided total noon damage is $300,000,000 of which $175,000,000 is insured. The health officials estimated that Sixcorpses have been burned. 500 teen dead wagons are employed today electJames Phelan, ex-mayor, committee was chairman of the finance ed Bricks from the ruins are stacked 10 feet high along the curb lines. Lumber is beginning to arrive. The physical condition of the peoOF and their spirits are excellent. 23. S ple PORTLAND, Ore., April shocks $3 -Sharp earthquake % So 53 SO were felt at 1:16 this morning Grant's Pass and Glendale. or % however. to 50 at There was no serious damage, S FRANCISCO, April 24.-Gov dispatch SAN this morning sent a list of Pardee General Funston giving a accept towns to in California who would home refugees the San Francisco 500, othSome towns will take foot ers less. 1,000, and all together they up 40,000 FRANCISCO. people. April fared 24.-The bet SAN on the harbor has of the shipping any other interest bunkter than city, and while the coal destroyed, doomed have been practically the coast ers for the west and fuel the ships have been enabled to get mail towns time. The Pacific and leave for on China will leave list, tomor- alsteamship with a small passenger crowded row she was booked for seekers, though mostly with pleasure up the cabins, for Honolulu, who have now given WASHINGTON. trip. April 24.-General loss of San much Greeley Francisco will says today that the be

2. May 6, 1906 The Sun New York, NY
Article from The Sun, May 6, 1906

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Article Text

will class trapen with May GARLAND of mitten committee They our he WITH returns Believe Home funds that the assistant diff HY the ** investments they can of such outstate enverment guarantee attract. and that loan not needed of # great municipal learning House has expressed The Man this Francisco in . formal declaration part of which follows that the business "The committee family heart charity in much do not With $150. of Interest# as rebuilding the city insurance 600,000 antvent aid them more in to be received from condition, companies the hanks in in the A State and general Bountiful harvest amind. further financial on help underlying should business be looked for only strictly business principles since insurance in. "In other words. replace the stroyed demnity will largely as the stocks of merBuildings. as well will he able and our banks individuals of chandise. meet general requirements. may come to find it sources necesInstitutiona expedient ho to apply to outside may arise eary or aid should do an as occasion security We for the usual basis of good and shall shortly on rebuild in a day he immecannot have more money which can diately used great volumes is already com- heMoney in here by the insurance Europe ing forwarded the United States and they will panies to pay the of immense Josses which have to stand have decided "Many of the their companies clients with spot cash coin at to reimburse or with drafts as good that as would their offices thus avoid the delay issued on here. and if bills of exchange centres. were ensue Eastern or foreign of money the Wells Fergo-Nevada of the National have decided The directors Bank and the directors not to Union Trust Company loans and not to raise current their call in of their interest above the low National rates Bank rates April 18. The offer to just before has telegraphed an Wells Fargo of Chicago W. Hellman of the Mr. President I. his institution $1,000,000 Chicago to lend replied. thanking the need the bank, Hellman but saying that the firm did not money. whole banking situation banks is will bright. open On The Monday the savings The commercial for a partial business. good deal of business banks are doing the a $500 plan are lightening some of Withdrawale deposits on are flowing has in. been To trans= the and banks enough coin to enable them to from the Mint notes ferred themselves the promissory depositors pay off to do for checks of temporary now There just needs who which are had withdrawing money was for a report year were them cashing This checks. that any firm terday that some led to of a declaration caught from the Clearing House would be expelled in this business the vaults can be opened shacks As soon as banks will move to will little take up most of the Later they of them close the question at hand. of rebuilding-lew will move. question of the date for House reopening vestercame The up before the Clearing of the bankers are day morning Some at it. It was made vaults plain. impatient that to get all could not open before their a week and however get and ready in for this business case the slow conservative will hold members thought back at least, the fast. The that it more would take three weeks One of those little for quakes some which time to must shake up of necessity continue of the great trembler shook They in the trail half past 10 this morning. these days: the city at racking things in as this are nerve such a little quake little a would month have ago been only a thing for a it gossip. This down one the got tottering itself Building noticed wall of and because the some Pacific of threw Life Insurance ruined Municipal Building. workmen. Mutual the interior The walls Pacific of the Mutual wall The nearly workcaught a along gang Montgomery of street threw quit and up men all land. One of them him back. ran his job to clear when the boss out ordered of this country before I'm they going begin to get running said. steamboats which up street, he of fifty, Montgomery committee city govThe citizens had control of the day. has virtually since the thquake will about in a ernment ever ended its usefulness few and days has probably be discharged Auh-committees have may put Many of the shape that the work auaffairs into such over to the regular corthorities. now be handed to the soldiere, or to private porations. on water. lighting. have tele- been The service committees and transportation been turned phone and their work has control of dishanded companies having ill over to the The companies those commodities the regular city authorities of now instead deal military of with the Committee authorities of Fifty. and the the hun- Red Cross are The handling the feeding of business. together must gry,and the resumption that able hodied men their with the order no supplies. has lessened work goes work work or in get this respect. In the The district relief south has been of Market very smoothly along waterfrone there some distress committee took notice Shine of this took yesThe and to-day Marshal straightened things terday, there and shelter command still a little short on enough out. They but at are least they are in fed a and few days. there. shelter will the be last furnished district in which there This was considerable distress. estimates of amount was Contractors any have rubbish been making which will have district. on to the be removed about from the burned cubia words

3. May 24, 1906 East Oregonian : E.O Pendleton, OR
Article from East Oregonian : E.O, May 24, 1906

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Article Text

San Francisco May 24.-At a secret meeting of the board of fire underwriters held at Oakland, definite action was taken in the matter of fixing insurance rate for San Francisco. It was decided to double all rates. Some members favored fixing different rates for the burned and unburned sections, but a flat rate for the entire city was finally decided upon and all special rates abrogated. The lines of depositors around the savings banks are materially smaller today, and more deposits were made than withdrawals. As a result of the opening of banks for unrestricted business building operations are given a great - impetus. The construction of scores of new frame buildings begun this morning. Banks All on Solid Ground. At the Market Street bank the line at the paying teller's window was smaller than at the receiving teller's The same was true at the Western National bank and National Bank of the Pacific. Deposits at the Mutual Savings bank were comparatively small, and judging from the line at the paying teller's window. the heaviest run of any of the downtown banks was made there. All demands, however. were paid in full. At the Crocker Woolworth bank over $50,000 in gold coin was paid in today before 11 o'clock, while the withdrawals were very small. At the Union Trust company the deposits exceeded the withdrawals tenfold. Protest Cancelling Bonds. The lobby committee on special session of the legislature today decided against the proposition for the legislature to extinguish $177,000,000 worth of unsold San Francisco bonds. Assurances are received from financiers that the present outstanding bonds are saleable. and the money is needed im-