1617. Columbia Trust Company (Middletown, CT)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
trust company
Start Date
October 26, 1908
Location
Middletown, Connecticut (41.562, -72.651)

Metadata

Model
gpt-5-mini
Short Digest
5d508d8a

Response Measures

None

Description

Articles (Oct 26–28, 1908) report the Columbia Trust Company did not open and posted a notice saying 'Upon advice of the bank commissioners no business will be done for the present.' Examiners were working and a settlement was expected within six months. No contemporaneous run is described in these pieces (article 2 mentions a year-earlier run). Cause of suspension appears to be regulatory action/advice by bank commissioners. Outcome not reported here; articles suggest expectation of settlement (so chosen as suspension_reopening).

Events (1)

1. October 26, 1908 Suspension
Cause
Government Action
Cause Details
Suspension carried out upon advice of the bank commissioners; bank examiners were working on the books and settlement was expected within six months.
Newspaper Excerpt
Upon advice of the bank commissioners no business will be done for the present, at least. Deposits received Saturday will be returned to the depositors.
Source
newspapers

Newspaper Articles (3)

Article from The San Francisco Call, October 27, 1908

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Article Text

TRUST COMPANY SUSPENDS MIDDLETOWN, Conn., Oct. 26.-The Columbia trust company of this city did not open its doors for business today and the following explanatory notice was posted on the building: "Upon advice of the bank commissioners no business will be done for the present, at least. Deposits received Saturday will be returned to the depositors. The company will continue to act as trustee for such estates as they have in hand." Bank examiners were at work today on the books of the company and it is expected that a settlement will be made within six months.


Article from The Morning Journal-Courier, October 27, 1908

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Article Text

Trust Company Closed Down. Middletown. Oct. 26.-The Columbia Trust company of this city did not open its doors for business at the usual hour to-day. the following explanatory notice having been posted on the building: "I' pon the advice of the bank commissioners no business will be done for the present. at least Deposits received Saturday will be returned to the depositors. The company will continue to act as trustee for such estates as 11 has in hand.' Bank examiners were at work triday on the books of the company, and it is expected that settlement will be made within six months The trust company up to a year ago ran a savings bank in connection with its other business but owing to a run at that time which they were barely able to withstand the savings bank department was given up. Since then they have been doing merely a banking and trust business It is stated that the present trouble was brought about by the company's trying to pay three per cent interest on daily balances. The company was organized in 1896 with a capital of $50,000.


Article from Waterbury Evening Democrat, October 28, 1908

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Article Text

NUTMEG GRATINGS. Interesting Items Boiled Down for Our Busy Readers. East Hartford-The barn on the farm of William L. Hunting was burned yesterday noon with contents The loss was $1,000; no insurance. The fire department had only 800 feet of hose to attach to a hydrant which was 900 feet away so the barn went down. The house was saved. Meriden-George A. Bradley of Swain avenue has the distinction of being probably the only man in Con. necticut who has raised English walnuts successfully. He has on his farm an English walnut tree in bearing and the nuts are especially fine. The largest crop he has ever had before this year is four quarts but this season he will harvest probably half a bushel from this tree. Windsor Locks-Two large crates of Hungarian partridges, containing 180 birds, arrived at the Adams Express office yesterday morning from the firm of Wenz & Mackenson of Pennsylvania. The birds will be used for breeding purposes at the state hatchery this winter, and later will be distributed about the state. About a year ago a few hundred of these birds were set free in the state and reports show that they are doing well. Suffield--The farmers and tobacco growers worked hard all day Monday and many kept their men in *the tobacco barns taking down their crop until nearly midnight and again went at it yesterday morning. Every available man who did not have a job, easily secured one and will continue to keep it as long as this damp continues. It was estimated that about 25 per cent of this year's crop of 3,300 acres was taken down yesterday in this town. Middletown--The suspension of payments by the Columbia Trust company of this city will have a strong effect upon the pocketbooks of many of the Wesleyan University students for some time to come. The Columbia Trust company was quite. a favorable banking place with the collegians and a good proportion of the men had accounts there. It is expected that the loss to the students will be from $3,000 to $5,000. The largest individual deposit was that of a junior, Merritt by anme, which was something like $700. Hartford-The east abutment on the new bridge refuses to stay put. It has again settled away from the center of the eastern end of the easternmost arch. Early in the month a new stone was fitted in the place of the one that had settled away, and expert masons made a good job of it. Inside of ten days the signs of continued settling showed up and yesterday there was a crevice of a full quarter of an inch between the new mortar and stone. At the same time the spaces between the blocks of granolithic sidewalk widened. Torrington-Kerrill K. Kimberley, a prominent citizen of Goshen and a former justice of the peace and grand juror of that town, who was arrested last April for statutory burglary, was sentenced by Judge Gager in the superior court at Litchfield yesterday to serve six months in the Litchfield county jail. Kim-