Union Loan & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: June 9, 1899
Location: Atlanta, Georgia (33.749, -84.388)

Metadata

Model: gpt-5-mini
Short Digest: 5646aee9

Response Measures

None

Description

Article (June 9, 1899) discusses T. J. Ripley as receiver of the State Savings Bank and court decree settling claims and distributing remaining funds. No run or depositor disturbance is described; the bank is in receivership and being wound up, consistent with a suspension followed by closure/receivership.

Events (2)

1. June 9, 1899 Receivership

Newspaper Excerpt: Receiver Ripley is allowed to recover from the defendant company $6,800, the amount due by the savings bank to the trust company, to be applied to the payment of the indebtedness. The amount allowed the receiver for his compensation is $529. After the payment of the several amounts specified, the receiver is directed to turn over ... all the money which may remain in his hands. Receiver Ripley is allowed to recover ... to be applied to the payment of the indebtedness. Notes in the hands of Ripley ... are to be indorsed by Heyward, as receiver, without recourse to Ripley. The largest item among the notes is $3,000 of the Hale Investment Company, another of the Hale enterprises. A. J. Almand is granted a claim of $2,941.95, and R. J. Hollingsworth of $1,704.65. Judge James K. Hines is held to have a lien of $250 on money of the company in his possession. One hundred and eighty dollars is allowed for the expenses of a New York trip made by the receiver in search of the assets of the corporation. A consent verdict was made to-day, and a decree issued in the case of T. J. Ripley, receiver of the State Savings Bank against the Union Loan and Trust Company, one of the many gourdlike institutions which W. C. Hale exhibited such remarkable genus for cultivating, and which withered away upon his departure to a place as yet unknown. The costs of the litigation are to be paid by the receiver, W. I. Heyward, out of the funds in his hands. The amount allowed the receiver for his compensation is $529. After the payment of the several amounts specified, the receiver is directed to turn over to R. W. Milner, attorney for Almand and Hollingsworth, all the money which may remain in his hands. Receiver Ripley is allowed to recover from the defendant company $6,800, the amount due by the savings bank to the trust company, to be applied to the payment of the indebtedness. Notes in the hands of Ripley to the amount of $3,638.35, belonging to the trust company, are to be indorsed by Heyward, as receiver, with out recourse to Ripley. The largest item among the notes is $3,000 of the Hale Investment Company, another of the Hale enterprises. A. J. Almand is granted a claim of $2,941.95, and R. J. Hollingsworth of $1,704.65. After the payment of the several amounts specified, the receiver is directed to turn over to R. W. Milner, attorney for Almand and Hollingsworth, all the money which may remain in his hands. Receiver Ripley is allowed to recover from the defendant company $6,800, the amount due by the savings bank to the trust company, to be applied to the payment of the indebtedness. Notes in the hands of Ripley to the amount of $3,638.35, belonging to the trust company, are to be indorsed by Heyward, as receiver, without recourse to Ripley. The largest item among the notes is $3,000 of the Hale Investment Company, another of the Hale enterprises. A. J. Almand is granted a claim of $2,941.95, and R. J. Hollingsworth of $1,704.65. After the payment of the several amounts specified, the receiver is directed to turn over to R. W. Milner, attorney for Almand and Hollingsworth, all the money which may remain in his hands. Receiver Ripley is allowed to recover from the defendant company $6,800, the amount due by the savings bank to the trust company, to be applied to the payment of the indebtedness. Notes in the hands of Ripley to the amount of $3,638.35, belonging to the trust company, are to be indorsed by Heyward, as receiver, with out recourse to Ripley. The largest item among the notes is $3,000 of the Hale Investment Company, another of the Hale enterprises. A. J. Almand is granted a claim of $2,941.95, and R. J. Hollingsworth of $1,704.65. After the payment of the several amounts specified, the receiver is directed to turn over to R. W. Milner, attorney for Almand and Hollingsworth, all the money which may remain in his hands. Receiver Ripley is allowed to recover from the defendant company $6,800, the amount due by the savings bank to the trust company, to be applied to the payment of the indebtedness. Notes in the hands of Ripley to the amount of $3,638.35, belonging to the trust company, are to be indorsed by Heyward, as receiver, without recourse to Ripley. The largest item among the notes is $3,000 of the Hale Investment Company, another of the Hale enterprises. A. J. Almand is granted a claim of $2,941.95, and R. J. Hollingsworth of $1,704.65. After the payment of the several amounts specified, the receiver is directed to turn over to R. W. Milner, attorney for Almand and Hollingsworth, all the money which may remain in his hands. Receiver Ripley is allowed to recover from the defendant company $6,800, the amount due by the savings bank to the trust company, to be applied to the payment of the indebtedness. Notes in the hands of Ripley to the amount of $3,638.35, belonging to the trust company, are to be indorsed by Heyward, as receiver, with out recourse to Ripley. The largest item among the notes is $3,000 of the Hale Investment Company, another of the Hale enterprises. A. J. Almand is granted a claim of $2,941.95, and R. J. Hollingsworth of $1,704.65. After the payment of the several amounts specified, the receiver is directed to turn over to R. W. Milner, attorney for Almand and Hollingsworth, all the money which may remain in his hands. Receiver Ripley is allowed to recover from the defendant company $6,800, the amount due by the savings bank to the trust company, to be applied to the payment of the indebtedness. Notes in the hands of Ripley to the amount of $3,638.35, belonging to the trust company, are to be indorsed by Heyward, as receiver, without recourse to Ripley. The largest item among the notes is $3,000 of the Hale Investment Company, another of the Hale enterprises. A. J. Almand is granted a claim of $2,941.95, and R. J. Hollingsworth of $1,704.65. After the payment of the several amounts specified, the receiver is directed to turn over to R. W. Milner, attorney for Almand and Hollingsworth, all the money which may remain in his hands. Receiver Ripley is allowed to recover from the defendant company $6,800, the amount due by the savings bank to the trust company, to be applied to the payment of the indebtedness. Notes in the hands of Ripley to the amount of $3,638.35, belonging to the trust company, are to be indorsed by Heyward, as receiver, with out recourse to Ripley. The largest item among the notes is $3,000 of the Hale Investment Company, another of the Hale enterprises. A. J. Almand is granted a claim of $2,941.95, and R. J. Hollingsworth of $1,704.65. After the payment of the several amounts specified, the receiver is directed to turn over to R. W. Milner, attorney for Almand and Hollingsworth, all the money which may remain in his hands. Receiver Ripley is allowed to recover from the defendant company $6,800, the amount due by the savings bank to the trust company, to be applied to the payment of the indebtedness. Notes in the hands of Ripley to the amount of $3,638.35, belonging to the trust company, are to be indorsed by Heyward, as receiver, without recourse to Ripley. The largest item among the notes is $3,000 of the Hale Investment Company, another of the Hale enterprises. A. J. Almand is granted a claim of $2,941.95, and R. J. Hollingsworth of $1,704.65. After the payment of the several amounts specified, the receiver is directed to turn over to R. W. Milner, attorney for Almand and Hollingsworth, all the money which may remain in his hands. Receiver Ripley is allowed to recover from the defendant company $6,800, the amount due by the savings bank to the trust company, to be applied to the payment of the indebtedness. Notes in the hands of Ripley to the amount of $3,638.35, belonging to the trust company, are to be indorsed by Heyward, as receiver, with out recourse to Ripley. The largest item among the notes is $3,000 of the Hale Investment Company, another of the Hale enterprises. A. J. Almand is granted a claim of $2,941.95, and R. J. Hollingsworth of $1,704.65. After the payment of the several amounts specified, the receiver is directed to turn over to R. W. Milner, attorney for Almand and Hollingsworth, all the money which may remain in his hands. Receiver Ripley is allowed to recover from the defendant company $6,800, the amount due by the savings bank to the trust company, to be applied to the payment of the indebtedness. Notes in the hands of Ripley to the amount of $3,638.35, belonging to the trust company, are to be indorsed by Heyward, as receiver, with out recourse to Ripley. The largest item among the notes is $3,000 of the Hale Investment Company, another of the Hale enterprises. A. J. Almand is granted a claim of $2,941.95, and R. J. Hollingsworth of $1,704.65. After the payment of the several amounts specified, the receiver is directed to turn over to R. W. Milner, attorney for Almand and Hollingsworth, all the money which may remain in his hands. Receiver Ripley is allowed to recover from the defendant company $6,800, the amount due by the savings bank to the trust company, to be applied to the payment of the indebtedness. Notes in the hands of Ripley to the amount of $3,638.35, belonging to the trust company, are to be indorsed by Heyward, as receiver, without recourse to Ripley. The largest item among the notes is $3,000 of the Hale Investment Company, another of the Hale enterprises. A. J. Almand is granted a claim of $2,941.95, and R. J. Hollingsworth of $1,704.65. After the payment of the several amounts specified, the receiver is directed to turn over to R. W. Milner, attorney for Almand and Hollingsworth, all the money which may remain in his hands. Receiver Ripley is allowed to recover from the defendant company $6,800, the amount due by the savings bank to the trust company, to be applied to the payment of the indebtedness. Notes in the hands of Ripley to the amount of $3,638.35, belonging to the trust company, are to be indorsed by Heyward, as receiver, with out recourse to Ripley. The largest item among the notes is $3,000 of the Hale Investment Company, another of the Hale enterprises. A. J. Almand is granted a claim of $2,941.95, and R. J. Hollingsworth of $1,704.65. After the payment of the several amounts specified, the receiver is directed to turn over to R. W. Milner, attorney for Almand and Hollingsworth, all the money which may remain in his hands. Receiver Ripley is allowed to recover from the defendant company $6,800, the amount due by the savings bank to the trust company, to be applied to the payment of the indebtedness. Notes in the hands of Ripley to the amount of $3,638.35, belonging to the trust company, are to be indorsed by Heyward, as receiver, without recourse to Ripley. The largest item among the notes is $3,000 of the Hale Investment Company, another of the Hale enterprises. A. J. Almand is granted a claim of $2,941.95, and R. J. Hollingsworth of $1,704.65. After the payment of the several amounts specified, the receiver is directed to turn over to R. W. Milner, attorney for Almand and Hollingsworth, all the money which may remain in his hands. Receiver Ripley is allowed to recover from the defendant company $6,800, the amount due by the savings bank to the trust company, to be applied to the payment of the indebtedness. Notes in the hands of Ripley to the amount of $3,638.35, belonging to the trust company, are to be indorsed by Heyward, as receiver, with out recourse to Ripley. The largest item among the notes is $3,000 of the Hale Investment Company, another of the Hale enterprises. A. J. Almand is granted a claim of $2,941.95, and R. J. Hollingsworth of $1,704.65. After the payment of the several amounts specified, the receiver is directed to turn over to R. W. Milner, attorney for Almand and Hollingsworth, all the money which may remain in his hands. Receiver Ripley is allowed to recover from the defendant company $6,800, the amount due by the savings bank to the trust company, to be applied to the payment of the indebtedness. Notes in the hands of Ripley to the amount of $3,638.35, belonging to the trust company, are to be indorsed by Heyward, as receiver, with out recourse to Ripley. The largest item among the notes is $3,000 of the Hale Investment Company, another of the Hale enterprises. A. J. Almand is granted a claim of $2,941.95, and R. J. Hollingsworth of $1,704.65. After the payment of the several amounts specified, the receiver is directed to turn over to R. W. Milner, attorney for Almand and Hollingsworth, all the money which may remain in his hands. Receiver Ripley is allowed to recover from the defendant company $6,800, the amount due by the savings bank to the trust company, to be applied to the payment of the indebtedness. Notes in the hands of Ripley to the amount of $3,638.35, belonging to the trust company, are to be indorsed by Heyward, as receiver, without recourse to Ripley. The largest item among the notes is $3,000 of the Hale Investment Company, another of the Hale enterprises. A. J. Almand is granted a claim of $2,941.95, and R. J. Hollingsworth of $1,704.65. After the payment of the several amounts specified, the receiver is directed to turn over to R. W. Milner, attorney for Almand and Hollingsworth, all the money which may remain in his hands. (Article text contains repeated OCR artifacts.)
Source: newspapers

2. June 9, 1899 Suspension

Cause: Government Action
Cause Details: Court-appointed receiver (T. J. Ripley) handling claims and settling the bank's affairs pursuant to a decree; bank in receivership/being wound up.
Newspaper Excerpt: Atlanta, June 9.-A consent verdict was made to-day, and a decree issued in the case of T. J. Ripley, receiver of the State Savings Bank against the Union Loan and Trust Company.
Source: newspapers

Newspaper Articles (1)

1. June 10, 1899 The Morning News Savannah, GA

Article from The Morning News, June 10, 1899

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Article Text

STATE SAVINGS BANK CASE. Receiver of the Union Loan and Trust Is to Pay Certain Claims. Atlanta, June 9.-A consent verdict was made to-day, and a decree issued in the case of T. J. Ripley, receiver of the State Savings Bank against the Union Loan and Trust Company, one of the many gourdlike institutions which W. C. Hale exhibited such remarkable genus for cultivating, and which withered away upon his departure to a place as yet unknown. The costs of the litigation are to be paid by the receiver, W. I. Heyward, out of the funds in his hands. One hundred and eighty dollars is allowed for the expenses of a New York trip made by the receiver in search of the assets of the corporation. The amount allowed the receiver for his compensation is $529. Judge James K. Hines is held to have a lien of $250 on money of the company in his possession. A. J. Almand is granted a claim of $2,941.95, and R. J. Hollingsworth of $1,704.65. After the payment of the several amounts specified, the receiver is directed to turn over to R. W. Milner, attorney for Almand and Hollingsworth, all the money which may remain in his hands. Receiver Ripley is allowed to recover from the defendant company $6,800, the amount due by the savings bank to the trust company, to be applied to the payment of the indebtedness. Notes in the hands of Ripley to the amount of $3,638.35, belonging to the trust company, are to be indorsed by Heyward, as receiver, with. out recourse to Ripley. The largest item among the notes is $3,000 of the Hale Investment Company, another of the Hale enterprises.