Merchants Bank - Salt Lake City, UT

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1918*
Location: Salt Lake City, Utah (40.761, -111.891)

Metadata

Model: gpt-5-mini
Short Digest: 14726cd4

Response Measures

None

Description

Article states the Merchants Bank has been in receivership since 1918 and a receiver (Stephen H. Lynch) is selling assets in 1927; no mention of a depositor run preceding the suspension. Therefore this is a suspension that resulted in permanent closure/receivership. Date of initial suspension/receivership is given as 1918 in the text.

Events (2)

1. January 1, 1918* Suspension

Cause: Government Action
Cause Details: Bank placed in receivership in 1918 (court-appointed receiver), leading to suspension of normal operations.
Newspaper Excerpt: Beginning of the end of the receivership of Merchants bank. existent since 1918;
Source: newspapers

2. December 13, 1927 Receivership

Newspaper Excerpt: Beginning of the end of the receivership of Merchants bank. existent since 1918; was seen Monday when Judge Ephraim Hanson authorized Stephen H. Lynch, receiver, to sell the Eugene Chandler of Bingham for $3000.
Source: newspapers

Newspaper Articles (1)

1. December 13, 1927 The Ogden Standard-Examiner Ogden, UT

Article from The Ogden Standard-Examiner, December 13, 1927

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Article Text

BANK RECEIVER TASK NEARLY OVER SALT LAKE, Dec. 13.-Beginning of the end of the receivership of Merchants bank. existent since 1918; was seen Monday when Judge Ephraim Hanson authorized Stephen H. Lynch. receiver, to sell the Eugene Chandler of Bingham for $3000. When final dividend is made, the total will: amount to about S1 1-4 per cent dividend to depositors of the bank; Mr. Lynch said. They will have been paid out to them nearly $1,000,000. MOON STEALS The Associated Press. -When the moon is directly above. the steamship Leviathan weighs. pounds less than than when the graphic society dealing lumar