Union Bank & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: *
Location: Meridian, Mississippi (32.364, -88.704)

Metadata

Model: gpt-5-mini
Short Digest: 4bfa79a0

Response Measures

None

Description

The single article mentions that the Attorney General prosecuted violators... compelled the payment of hundreds of thousands of dollars to depositors by those responsible for the failure of the banks, as, for instance, the Union Bank & Trust Company of Meridian... It implies the bank failed and depositors were paid (closure/receivership). No specific dates or mention of a run are provided, so classified as a suspension/closure (failure) due to bank-specific adverse information.

Events (2)

1. * Receivership

Newspaper Excerpt: compellied the payment of hundreds of thousands of dollars to depositors by those responsible for the failure of the banks, as, for instance, the Union Bank & Trust Company of Meridian and the Bank of Enterprise.
Source: newspapers

2. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Article states the bank 'failed' and the AG compelled payments to depositors; indicates bank-specific insolvency or mismanagement led to closure.
Newspaper Excerpt: Prosecuted violators of our State Banking Laws and compellied the payment of hundreds of thousands of dollars to depositors by those responsible for the failure of the banks, as, for instance, the Union Bank & Trust Company of Meridian
Source: newspapers

Newspaper Articles (1)

1. July 25, 1919 The Grenada Sentinel Grenada, MS

Article from The Grenada Sentinel, July 25, 1919

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Article Text

ROSS A. COLLINS His Record of AchievementsPerformances, not Mere Promises 1. Broke up the Cotten Seed Trust and thereby saved the people of this State millions of dollars annually, besides turning into the Treasury of the State more than $125,000.00. 2. Kept down long-distance telephone rates for five months by suit instituted by him. thereby saving to the people of the State thousands of dollars daily. 3. Kept down monthly telephone rental rates by suit instituted by him, and thereby saved to the people of the State thousands of dollars monthly. 4. Kept the telephone companies from forming a giant telephone and telegraph combination which would have meant greater rates to the public. He also made the said companies pay to the State a penalty of $50,000.00 for such violation of the law. 5. Kept down the price of school books. thereby saving thousands of dollars annually to the parents of the school children of the State. 6. Kept down freight rates and saved the people of the State hundreds of thousands of dollars monthly. 7. Caused the Legislature to establish two rate experts for the benefit of the shipping public and provided for the payment of their salaries from collections made by him. 8. Supported the laboring man in every effort to better his conditions. 9. Kept every passenger train running in Mississippi, and even after rannouncements were made that they would be taken off, and he is the only Attorney General in the United States that did this. 10. Caused the Standard Oil Co. to pay a fine of $60,000.00 for violating the law of the State. 11. Fought for the enactment of the Child Labor Law and other laws in behalf of women and children 12. Fought all efforts of corporations opolize the landa of the State and did more to put farming corporations out of business than all other public officials combined. 13. Sustained against attack the Guaranty of Bank Deposits Law, therebe making depositor's funds safe. 14. Caused to be passed a law prohibiting oil mills from monopolizing the ginning business, and compelling them to dispose of such gius as they owned. other than those located at their plants. He upheld against legal attack the constitutionality of the act. 15. Upheld practically all acts affecting the welfare of the people when attacked in court. 16. Fought and upheld in the courts the law prohibiting manufao turing concerns from working employes more than ten-hours per day. 17. Stopped the railroads from charging passengers a penalty in addition offAre when boarding trains without tickets. 18. Wrote th Meterendum petitions and sens them out at his own expense, citing the public the right to vote on the Fish and Game Lav, and. further, sustained in court the Initiative and Referendur Amendment to the Constitution of the State 19. Has fought profiteering and plundering at the hands of the rich and powerful. crooked interests, and proposed specific legislation to remedy the evil. 20. Prosecuted violators of our State Banking Laws and compellied the payment of hundreds of thousands of dollars to depositors by those responsible for the failure of the banks, as, for in stance, the Union Bank & Trust Company of Meridian and the Bank of Enterprise. 21. Advocated in his reports to each of the last four Legislatures many salutary changes in the statute law of the State, which were enacted. and have proven of vant benifist to the people THE ABOVE CONSTITUTES A RECORD OF PERFORMANCE OT CAMPAIGN PROMISES. HAVE ANY OF THE MEN OP. SING HIM DONE THIS MUCH FOR YOU THEN WHY NOI VE HIM YOUR VOTE AND SUPPORT: He is a unique character in many rs ago. respects. He possesses some distincSince Mr. Copeland's patorate in