Spokane & Eastern Trust Company (Spokane, WA)

Episode Information

Episode UID
28000471279
Episode Type
Run Only
Bank Type
trust
Bank ID
2800047 routing
Routing Number
28-0004
Start Date
July 31, 1906
Location
Spokane, Washington (47.659, -117.426)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2cacef5357432f0c

Response Measures

None

Description

No suspension or closure is reported; withdrawals described are from unions and possibly limited.

Events (2)

1. July 31, 1906 Run
Cause Details
Local labor unions withdrew deposits because they believed the bank was controlled by the Washington Water Power company and opposed union interests.
Newspaper Excerpt
the union withdrew its funds from the bank and deposited them with the Old National.
Source
newspapers
2. January 26, 1922 Other
Newspaper Excerpt
Spokane & Eastern Trust Co. ... is attempting to squirm out of the responsibility of giving its share toward refunding the Scandinavian American's depositors the money they lost.
Source
newspapers

Newspaper Articles (2)

Article from The Spokane Press, July 31, 1906

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Article Text

Power compay. No reply being received, the union withdrew its funds from the bank and deposited them with the Old National. The Spokane & Eastern Trust company is the largest depository of the working class in the city and the belief that the same interests control both the bank and the Washington Water Power streetcar lines may result, it is claimed, in action being taken by the loca unions to induce members to withdraw their savings from the bank. Many local union men argue that it is folly for the working people to supply the Washington Water Power company with money to build railways, power plants and elect city officials. The fact that one union has already changed its account to another bank will, it is claimed, lead to similar action by other organizations. The union people do not think they can nor do they intend to damage the credit of the bank. They simply say they propose to decline to do business with any branch of an institution they believe is fighting them in every way possible.


Article from The Seattle Star, January 26, 1922

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Article Text

BANK TRIES TO GET OUT OF PAYING! Scandinavian American Depositors Interested in Spokane Suit The 21,000 depositors of the gone. to the-wall Seattle Scandinavian American bank were keenly interest. ed today in the action of the Spokane & Eastern Trust Co. bank, of Spo. kane This bank, by means of a suit filed in Thurston county superior court, is attempting to squirm out of the responsibility of giving its share toward refunding the Scandinavian American's depositors the money they lost. The suit is to restrain Gov. Louis Folwell Hart and John P. Duke, supervisor of banking. from disposing of securities deposited in the state guaranty fund by the Spokane & Eastern. The plaintiffs allege they served notice of withdrawal from the fund last March. Failure of the Scandinavian Amerlean caused a levy of $56,061.44 to be placed against the Spokane & East. ern as its share, under the guaranty fund law, of the money to be paid from the fund to Scandinavian Amerlean depositors. The Spokane & Eastern is the largest bank back of the fund. If. therefore, it succeeds in winning its action against the governor and supervisor of banking, the guaranty fund will be left without the $56,061.44 that, under the law. is payable to Scandinavian American depositors.