21437. Utah Savings & Trust Company (Salt Lake City, UT)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
January 7, 1907
Location
Salt Lake City, Utah (40.761, -111.891)

Metadata

Model
gpt-5-mini
Short Digest
05a0806c

Response Measures

None

Description

No newspaper articles describe any depositor run or temporary suspension of payments. By Dec 22, 1907 an article refers to Eugene T. Wilson, receiver of the bank, indicating the Utah Savings & Trust Company was itself in receivership (i.e., closed/under receiver). Earlier January 1907 items show the bank acting as receiver for the Annie Laurie Mining Co.; later December 1907 item indicates the bank had a receiver. No reopening or run is described in the provided clippings. Classified as suspension_closure (suspension leading to permanent closure/receivership).

Events (2)
1. January 7, 1907 Other
Newspaper Excerpt
The Utah Savings & Trust company was yesterday appointed by the federal court receiver of the Annie Laurie Mining company.
Source
newspapers
2. December 22, 1907 Receivership
Newspaper Excerpt
It is alleged that Eugene T. Wilson, receiver of the bank, sued P. A. H. Franklin for a sum which now, in principal and interest, amounts to $11,000.
Source
newspapers

Newspaper Articles (8)
1. January 8, 1907 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, January 8, 1907

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Article Text

The Utah Savings & Trust company was yesterday appointed by the federal court receiver of the Annie Laurie Mining company. This appointment is directly in line with the business conducted by this Trust company. It acts as executor, administrator, guardian, assignee, receiver, trustee, etc., and executes trusts of every description under the appointment of courts, corporation and individuals. It also receives wills for safe keeping and issues receipts therefor. making no charge for such service when named as executor. Wills so deposited may be withdrawn at any time.

2. January 8, 1907 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, January 8, 1907

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Article Text

RECEIVER FOR ANNIE LAURIE Trust Company to Take Charge of Mining Company's Affairs. INDEBTEDNESS IS $180,000 PROCEEDINGS ARE INSTITUTED BY LARGEST STOCKHOLDER. At the chancery sitting of the United States circuit court Monday, Judge Marshall ordered the appointment of the Utah Savings & Trust company as receiver for the Annie Laurie Mining company. The case in question was that of Frank H. Buhl of Sharon, Pa., against the Annie Laurie Mining company and W. S. McCornick. The Annie Laurie has been in financial difficulties for a long time. The indebtedness of the company exceeds $180,000, and it owes to W. S. McCornick on an overdraft upward of $50,000. John C. Cox, who is the present manager of the Annie Laurie, will be appointed manager of the company by the receiver. By appointing Mr. Cox to the position of manager, the receiver intends to continue the operation of the mine without interruption. It was given out Monday that the change will not affect the operation. The receiver was appointed on the petition of Frank H. Buhl of Sharon, Pa., who says he is the largest individual holder of stock in the company, owning 12,000 shares.

3. January 13, 1907 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, January 13, 1907

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Article Text

RECEIVER'S NOTICE. UTAH SAVINGS & TRUST COMpany, Receiver, Annie Laurie Mining Company. Notice is hereby given that on the 7th day of January, 1907, the Utah Savings & Trust Company was duly appointed receiver of the Annie Laurie Mining Company, a corporation, by the United States Circuit Court for the District of Utah, in a suit of Frank H. Buhl, plaintiff, VS. Annie Laurie Mining Company and W. S. McCornick, defendants, pending therein. By order of the court, all creditors of the said Annie Laurie Mining Company must present their claims, properly verified by affidavit, to the said receiver at its place of business, No. 160 South Main street, Salt Lake City, Utah. on or before the 23rd day of February. 1907. UTAH SAVINGS & TRUST COMPANY, By HEBER M. WELLS, Secretary. Dated January 10. 1907.

4. January 13, 1907 The Salt Lake Tribune Salt Lake City, UT
Article from The Salt Lake Tribune, January 13, 1907

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Article Text

RECEIVER'S NOTICE. Utah Savings & Trust Company, Receiver, Annie Laurie Mining Company. Notice is hereby given that on the 7th day of January. 1907, the Utah Savings & Trust company was duly appointed receiver of the Annie Laurie Mining company. a corporation, by the United States Circuit Court for the District of Utah, in a suit of Frank H. Buhl. plaintiff, vs. Annie Laurie Mining company and W. S. McCornick. defendants. pending therein. By order of court. all creditors of the sald Annie Laurle Mining company must present their claims properly verified by affidavit, to the said receiver at its place of business, No. 160 South Main street. Salt Lake City, Utah, on or before the 23rd day of February, 1907. UTAH SAVINGS & TRUST COMPANY, By Heber M. Wells, Secretary Dated January 10th, 1907. g904

5. January 19, 1907 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, January 19, 1907

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Article Text

RECEIVER'S NOTICE. UTAH SAVINGS & TRUST COMpany, Receiver, Annie Laurie Mining Company. Notice is hereby given that on the 7th day of January, 1907, the Utah Savings & Trust Company was duly appointed receiver of the Annie Laurie Mining Company, a corporation. by the United States Circuit Court for the District of Utah, in a. suit of Frank H. Buhl, plaintiff, vs. Annie Laurie Mining Company and W. 8. McCornick, defendants, pending therein. By order of the court. all creditors of the said Annie Laurie Mining Company must present their claims, properly verified by affidavit, to the said receiver at its place of business, No. 160 South Main street, Salt Lake City, Utah. on or before the 23rd day of February. 1907. UTAH SAVINGS & TRUST COMPANY. By HEBER M. WELLS. Secretary. Dated January 10, 1907.

6. January 20, 1907 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, January 20, 1907

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Article Text

RECEIVER'S NOTICE. UTAH SAVINGS & TRUST COMpany, Receiver, Annie Laurie Mining Company. Notice is hereby given that on the 7th day of January, 1907, the Utah Savings & Trust Company was duly appointed receiver of the Annie Laurie Mining Company, a corporation, by the United States Circuit Court for the District of Utah, in a suit of Frank H. Buhl, plaintiff, vs. Annie Laurie Mining Company and W. S. McCornick, defendants, pending therein. By order of the court. all creditors of the said Annie Laurie Mining Company must present their claims, properly verified by affidavit, to the said receiver at its place of business. No. 160 South Main street, Salt Lake City, Utah, on or before the 23rd day of February, 1907. UTAH SAVINGS & TRUST COMPANY, By HEBER M. WELLS, Secretary. Dated January 10. 1907.

7. October 30, 1907 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, October 30, 1907

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Salt Lake Business Public at Once Falls Readily Into Line. THE COUNTRY BANKS FOLLOW Pay Rolls Will be Taken Care of in Cash as Hitherto-All Bankers Interviewed. Salt Lake's business public today gave another exhibition of the strong common sense which has always distinguished it in times of financial trouble A representative of the "News" at noon made a visit to all the banks of the city and found that the new order of things announced in last night's issue was not only being accepted with entire equanimity on the part of people doing business with the banks but that 11 was the quietest Wednesday that the banks had experienced for a long time past the receiving tellers' windows where deposits are taken in were in fact more busily patronized than the windows of the paying tellers and AT every institution visited the same report was given that there was no trou ble whatever and but little inconvenlence everyone recognizing that the measure adopted to limit payment on checks to $100 and to allow no disbursements of more than $200 in a week to one person, was the sane, safe and reasonable course to pursue under existing circumstances The funds of Salt Lake banks which are on deposit in eastern cities are obtainable only in the form of drafts, cashier's checks or exchange and untill this order of things is changed It is universally conceded that western cities will have no other recourse except to fall into line Under the clearing house regulations, banks are allowed a certain leeway in cases of exigency and pay rolls will be met as usual in cash 50 that the working classes will not be inconvenienced. At Zion's Savings Bank & Trust Co. Cashier o C. Beebe stated that the new rule was working smoothly and without apparent inconvenience to anyone Those people desiring money were allowed to draw out any amounts under $100. but on second withdrawals the notice provided for under the rule of the bank which is 30 days notice on amounts of $100 or under and 60 days' notice on amounts between $100 and $2,500 will be enforced This pre vents any hardship on depositors as it gives them money for urgent needs at once and provides for the remainder in 30 or GO days. At the State bank. Asst Cashier McEwan stated that everything was running smoothly; the new rule was being accepted and deposits were about normal At the Deseret National bank, Cashier H S. Young said that busi ness was even quieter than usual and people generally accepted the ex planations of the bank in regard to eastern conditions, acquiescing in the view that the best thing possible was being done under the conditions At the Desert Savings bank Cashier E A Smith said that that bank had always maintained the rule of requiring notice of withdrawals so that no change had been necessary for that Institution The business of the day was no different from that of previous days At MeCornick & Company's W. S. McCornick in answer to a question as to what effect the new rule in mak ing payments had had on his depositors, laughingly directed the reperter's attention to the condition of the banking room, where there were not half a dozen people present and 11.08t of them were at the receiving teller's window. Mr. McCornick said he thought the public generally had accepted the situation philosophically and that the present system would be only of short duration At the Utah National bank Cashier Nelson said that conditions were normal and no trouble whatever has been experienced in putting the new rule Late working force Their depositors had agreed with them that it was the one thing to do to protect the supply of currency new in the city At the Commercial National bank Asst. Cashier Shearman said that there was nothing whatever to report Every thing was peaceful and the new rules were working well At the National Bank of the Republic the cashier's report was much the same as that given at other institutions there was no sign of anything except the ordinary quiet conduct of business in the bank chamber At the Utah Savings & Trust company Cashier Heber M. Wells was not in. but Asst. Cashier Sloan said the deposits and withdrawals were about normal considerable amount of cash having been received with the deposits during the day At the Utah Commercia) and Savings bank cashier Groo said that no trouble whatever had been experienced Most people to whom the matter had been explained took an intelligent view and said that it was the one thing to do and that it ought to have been put into effect before At Walker Dros Asst Cashier Howard said the course met with unanimous approval on the part of the busi. ness public There was no stoppage to circulation drafts on the east could be bought as readily as before Country banks would have to give their deposit. ors checks on Salt Lake instead of the currency and these checks for the time being would have to take the place of currency with the stores, farmers, railroads, tax collectors etc. At the Salt Lake Security & Trust Co. Mr. McGurrin said that as fai as his experience went the new rule gave a sense of security rather than otherwise to the business public and many of their customers had expresse d the opinion that the action of the banks would relieve B. great deal of ap. prehension in fact the course now being followed would Insure the continuation of business whereas if people were allowed to hoard money busi ness would soon feel the effects of 11. Advices to the Salt Lake banks state that the country banks are adopting to the same precautionary measures guard their currency supply that the parent institutions in this city have put into effect In Davis county there are four banks and Hon John R Barnes of Kaysville states that at meeting held this morning measures

8. December 22, 1907 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, December 22, 1907

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stress. Final action of the committee will be deferred until replies to these letters have been received. ### VICTIM OF PICKPOCKET-Jake Shallenbarger lenbarger, one of the pioneers of the Ely mining district, who is now at the Cullen hotel, was robbed on the train coming into Salt Lake on Friday night of $140. It is believed that a pickpocket got among the passengers and took possession of Mr. Shallenbarger's money. ### SUES ON BOND.-The Conrad-Stanford company of Helena yesterday filed an action in the United States court against the Utah Savings & Trust company. It is alleged that Eugene T. Wilson, receiver of the bank, sued P. A. H. Franklin for a sum which now, in principal and interest, amounts to $11,000. ### ELKS' CHRISTMAS TREE.-The mem- bers of Salt Lake City lodge No. 85, B. P. O. E., propose to have a merry time in their club house next Thursday evening. A large Christmas tree will be placed in the lodge room, and "Big Elk" Murtaugh will act as Santa Claus. Presents costing not more than 25 cents will be distributed by Mr. Murtaugh, after which the usual Thursday evening dance will occur.