Title & Trust Company - Portland, OR

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: November 8, 1907
Location: Portland, Oregon (45.523, -122.676)

Metadata

Model: gpt-5-mini
Short Digest: c84d43f8

Response Measures

None

Description

Article (Nov 8, 1907) describes the Title & Trust Company as defunct with a receiver appointed and depositors pursuing bankruptcy — no run or depositor crowding is mentioned. Causes cited relate to insolvency and assigned assets, so classified as bank-specific adverse information leading to suspension and closure (receivership).

Events (2)

1. November 8, 1907 Receivership

Newspaper Excerpt: Governor Chamberlain has expressed his disfavor with the appointment of receiver, George H. Hill ... Receiver Hill discharged 70 employes of the bank last night. Three depositors ... have filed petitions with the federal court to put the bank into involuntary bankruptcy. So much of the banks best assets are assigned to preferred creditors it looks as if the depositors will suffer heavy loss. District Attorney Manning has been informed that the bank received deposits while insolvent and will investigate the charges and criminal actions may be instituted.
Source: newspapers

2. November 8, 1907 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank insolvent; assets unavailable or assigned to preferred creditors (Marquam building held as security), leading to failure and suspension.
Newspaper Excerpt: PORTLAND, Nov. 8.-Today's examinations of the affairs of the defunct Title & Trust company does not clear up the tangle of financial affairs of that institution.
Source: newspapers

Newspaper Articles (1)

1. November 8, 1907 The Evening Statesman Walla Walla, WA

Article from The Evening Statesman, November 8, 1907

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Article Text

Depositors Ask Aid of Bankruptcy Court GOVERNOR TAKES A HAND MANY ASSETS CLAIMED BY BANK ARE UNAVAILABLE-RE CEIVER DISCHARGES 70 EMPLOYES. PORTLAND, Nov. 8.-Today's examinations of the affairs of the defunct Title & Trust company does not clear up the tangle of financial affairs of that institution. Governor Chamberlain has expressed his disfavor with the appointment of receiver, George H. Hill and has hinted that he believed State Treasurer Steel should resign if he has allowed the state school fund to be impaired by the failure. It has been found the Marquam building, one of the banks supposed assets, is not available for the claims of the depositors as is held as security by Ladd and Tilton for a debt of $607,000. Three depositors, dissatisfied with the appointment of Hill as receiver have filed petitions with the federal court to put the bank into involuntary bankruptcy. So much of the banks best assets are assigned to preferred creditors it looks as if the depositors will suffer heavy loss. District Attorney Manning has been informed that the bank received deposits while insolvent and will investigate the charges and criminal actions may be instituted. To economize in the conduct of the affairs of the bank, Receiver Hill discharged 70 employes of the bank last night.