3379. Security 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
9bca4613

Response Measures

None

Description

Newspaper reports (Feb 26-27, 1897) state the Security Loan and Trust Company assigned — i.e., went into the hands of an assignee/receiver. No run or depositor panic is described; reports say it is believed only stockholders will lose. Date given as Feb 26–27, 1897.

Events (2)

1. February 26, 1897 Receivership
Newspaper Excerpt
The Security Loan and Trust company assigned. It is believed that none but the stockholders will lose.
Source
newspapers
2. February 26, 1897 Suspension
Cause Details
Company assigned to an assignee/receiver; no run or specific cause (e.g., fraud or correspondent failure) mentioned in articles.
Newspaper Excerpt
The Security Loan and Trust company assigned here this evening.
Source
newspapers

Newspaper Articles (3)

Article from Rock Island Argus, February 27, 1897

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Article Text

ABBREVIATED TELEGRAMS. / General Alger has arrived in Washington and is quartered at the Arlington hotel. The striking tanners and employes of Chicago have agreed to leave their differences to be settled by the state board of arbitration. The men will return to work Monday at the old wages and hours. Obituary: At Lancaster, Pa., Miss C. W. Cassaday, 101. At Colon, Mich., Andrew Baird, 101. At Kaukauna, Wis., James Madison Boyd, 81. At Belvidere, Ills., Frederick Sands, 64. At Mount Sterling, Ills., Dr. J. R. Rickey, 56. At Jefferson, Ia., Mrs. Susan Russell, 81. At Greenup, Ills., William T. Ryan. Platteville, Wis., has passed an ordb nace forbidding the sale of cigarettes within the city limits. An epidemic of grippe has broken out in Janesville, Wis., and local physcians report that 300 people are suffering with the disease. President Cleveland yesterday received his last full month's salary, amounting to $4,166.67. The payment for the last four days of his term probably will be made about the 3rd of March. Marcus A. Hanna. chairman of the national Republican committee and successor to John Sherman in the United States senate, left Cleveland yesterday for the national capital. The Security Loan and Trust company at Des Moines has assigned. It is believed that none but the stockholders will lose. Monday next the large rubber factory of the L. Candee company at New Haven, Conn., will resume operations after an idleness of several weeks. The factory employs 1,000 hands. Vice President-Elect H. A. Hobart will leave his home in Paterson, N. J., on Tuesday next to take part in the inauguration ceremonies. Senor Morote, the correspondent of El Liberal, of Madrid, has sailed from Havana for the United States for the purpose of being present at the inauguration of President-Elect McKinley.


Article from The Houston Daily Post, February 27, 1897

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Article Text

Loan and Trust Company. Des Moines, Iowa, February 26.-The Security Loan and Trust company assigned here this evening. The company's stock is $160,000 and it is believed none but stockholders will lose. No estimates of assets or liabilities can be made.


Article from The Bryan Daily Eagle, February 28, 1897

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Article Text

Trust Company Assigns. DES MOINES, Feb. 27.-The Security Loan and Trust company assigned here. The company's stock is $160,000, and it is believed none but stockholders will lose. No estimate of assets or liabilities can be made.