2857. Central Loan & Trust Company (Des Moines, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
February 26, 1897
Location
Des Moines, Iowa (41.601, -93.609)

Metadata

Model
gpt-5-mini
Short Digest
2ad0560fbad03103

Response Measures

None

Description

Multiple contemporary newspaper items report the Central Loan & Trust Company of Des Moines 'assigned to A. L. Campbell' on Feb. 26–27, 1897. This indicates an assignment/receivership and effective failure/closure due to inability to realize investments and attachment suits; there is no mention of a depositor run. Capital $175,000 noted. OCR variants (e.g., 'Central Loan and Trust Company') corrected for consistency.

Events (2)
1. February 26, 1897 Receivership
Newspaper Excerpt
Central Loan and Trust Company assigned to A. L. Campbell to-night. ... Close times made it impossible to realize on investments and the company three months ago began to close out its interests. The company had $175,000 capital.
Source
newspapers
2. February 27, 1897 Other
Newspaper Excerpt
The Central Loan & Trust company assigned to A. L. Campbell Friday night. ... commencement of attachment suits against some of its Omaha property by O. H. Perkins ... compelled it to assign in order to prevent a multiplicity of such actions.
Source
newspapers

Newspaper Articles (5)
1. February 27, 1897 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, February 27, 1897

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Article Text

A "Wave" of Prosperity. Des Moines, Feb. 26.-The Central Loan & Trust company assigned to A. L. Campbell tonight. It was at one time a prominent company in the west, loaning extensively in Omaha property and Nebraska farm lands. Close times made it impossible to realize on investments and the company three years ago began to close out its interests. The company had $175,000 capital.

2. February 27, 1897 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, February 27, 1897

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Article Text

A "Wave" of Prosperity. Des Moines, Feb. 26.-The Central Loan & Trust company assigned to A. L. Campbell tonight. It was at one time a prominent company in the west, loaning extensively in Omaha property and Nebraska farm lands. Close times made it impossible to realize on investments and the company three years ago began to close out its interests. The company had $175,000 capital.

3. February 27, 1897 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, February 27, 1897

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Article Text

Central Loan and Trust Company Fails. DES MOINES,IOWA, Feb.26.-The Central Loan and Trust Company assigned to A. L. Campbell to-night. It was at one time a prominent company in the West, loaning extensively on Omaha property and Nebraska farm lands. Close times made it impossible to realize on investments and the company three months ago began to close out its interests. The company had $175,000 capital.

4. February 28, 1897 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, February 28, 1897

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Article Text

COMMERCIAL AND INDUSTRIAL. NEW ENTERPRISES-February 26: Mexican Gulf Steamship company of New York incorporated, car'tal stock, $20,000,000. BANK FAILURES-February 24: German American bank of Tonawanda (N. Y.); William S. Alley, member New York exchange, suspended; Bank of Ewing, Ewing, Neb., capital stock $10,000, deposits last report, $22,973. February 26: Bank of Lithonia (Ga.), l'abilities $12,000. MERCANTILE FAILURES-February 24: Groosman Bros., seedsmen, Rochester, N. Y., liabilities -$50,000. February 26: Central Loan and Trust company, Des Moines, Ia., capital $175,000.

5. March 2, 1897 Twice-A-Week Plain Dealer Cresco, IA
Article from Twice-A-Week Plain Dealer, March 2, 1897

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Article Text

ASSIGNED. Central Loan & Trust Company of Des Moines Fails. Des Moines, Ia., Feb. 27.-The Central Loan & Trust company assigned to A. L. Campbell Friday night. It was at one time a prominent company in the west, loaning extensively on Omaha property and Nebraska farm lands. Close times made it impossible to realize on investments and the company three years ago began to close out its interests. It was nearly done, but the commencement of attachment suits against some of its Omaha property by O. H. Perkins, of this city, compelled it to assign in order to prevent a multiplicity of such actions. The company had $175,000 capital, which will be lost. It is said all the debentures will be paid in full. They are held in the east, chiefly by insurance companies.