2859. Central Trust Company (Des Moines, IA)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
trust
Start Date
December 28, 1926
Location
Des Moines, Iowa (41.601, -93.609)

Metadata

Model
gpt-5-mini
Short Digest
531f2bc08af49718

Response Measures

None

Description

Article from Dec 28, 1926 reports the Central Trust Company closed its doors and the state recovered funds via surety bonds; a receiver and bonding-company settlement are mentioned, indicating permanent closure/receiver. Two 1910 items refer to a 'Central Trust Co., of Illinois' acting as receiver for a packing company โ€” that is a different entity and not the Des Moines Central Trust Company. Exact closing date not specified beyond the Dec 28, 1926 report.

Events (2)

1. December 28, 1926 Receivership
Newspaper Excerpt
the state's claim against the bank's receiver. ... final payment of $192,217.83 due the state as interest and replacement under a surety bond of public money on deposit with the Central Trust company when it closed its doors.
Source
newspapers
2. December 28, 1926 Suspension
Cause Details
Article states the bank closed its doors and the state recovered deposits via surety bond; no explicit trigger (e.g., run or correspondent failure) is given.
Newspaper Excerpt
the Central Trust company when it closed its doors.
Source
newspapers

Newspaper Articles (3)

Article from The Daily Gate City, August 15, 1910

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Article Text

lowa Concern Broke. DES MOINES, Aug. 15.-It is erported here that the Central Trust Co., of Illinois was at the request of the Chicago Great Western railroad, made receiver for the Agar Packing Co., of this place last Saturday. But little is known of the case here. The assets of the company are $400,000; liabilities about the same.


Article from The Oskaloosa Herald, August 18, 1910

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Article Text

In Hands of Receiver. Des Moines, Aug. 15.-Special: It is reported here that the Central Trust Co., of Illinois, was at the request of the C. & N. W. Ry., made receiver for the Agar Packing company of this place last Saturday. Little is known of the case here. The assetts of the Agar company are $400,000; liabilities about the same.


Article from The Daily Nonpareil, December 28, 1926

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Article Text

STATE RECOVERS $1,060,667 DEPOSIT PAYMENT OF $192,217 TO THE STATE TREASURER, CLOSES ACCOUNT IN 3 BANKS. FROM BONDING COMPANIES Four Nationally Known Surety Concerns Involved-Treasurer Johnson Had $7,818 In Another Closed Bank. (By The Associated Press.) DES MOINES, Ia., Dec: 28.-State Treasurer R. E. Johnson today recelved the final payment of $192,217.83 due the state as interest and replacement under a surety bond of public money on deposit with the Central Trust company when it closed its doors. The bonding company now assumed the state's claim against the bank's receiver. The payment restores to the state all the $1,060,667 43 on deposit in three Des Moines banks when Treasurer Johnson assumed office, with the exception of $7,818.75 remaining unpaid from the Mechanics Savings bank. The state had $500,000 on deposit with the Iowa Loan and Trust company which closed week ago today, and will be reimbursed under the Lovrien Brookhart bank guaranty law as the replacement funds permits. The bonding companies that paid the state today were the National Surety company. the Fidelity and Casualty company, the Continental Casualty company and the Southern Surety company.