3348. Central Loan & Trust Company (Des Moines, IA)

Bank Information

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

Metadata

Model
gpt-5-mini
Short Digest
90fbcc5b

Response Measures

None

Description

Multiple newspapers report the Central Loan & Trust Company 'assigned to A. L. Campbell' (assignment/receiver) Feb. 26–27, 1897. No run or depositor panic is mentioned; this is an assignment/failure (permanent closure). Cause interpreted as voluntary assignment/liquidation due to inability to realize investments and attachment suits forcing assignment.

Events (2)
1. February 26, 1897 Receivership
Newspaper Excerpt
The Central Loan and Trust Company assigned to A. L. Campbell to-night.
Source
newspapers
2. February 26, 1897 Suspension
Cause
Voluntary Liquidation
Cause Details
Unable to realize on investments; close times and attachment suits compelled assignment to avoid multiplicity of actions.
Newspaper Excerpt
Central Loan & Trust company assigned to A. L. Campbell tonight.
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.