Union Loan & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: January 1, 1893*
Location: Sioux City, Iowa (42.500, -96.400)

Metadata

Model: gpt-5-mini
Short Digest: 11be88e4

Response Measures

None

Description

Article states the Union Loan and Trust Company went under and had a total collapse during the financial panic. OCR shows year '1833' but context and publication date (1895) indicate the Panic of 1893; I correct the year to 1893 in the event date. No run is described in the excerpt — this is a failure/receivership tied to the financial panic (macro shock).

Events (1)

1. January 1, 1893* Receivership

Newspaper Excerpt: the Union Loan and Trust company, which went under during the financial panic of 1833... resulting in its total collapse.
Source: newspapers

Newspaper Articles (1)

1. July 13, 1895 Rock Island Argus Rock Island, IL

Article from Rock Island Argus, July 13, 1895

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Article Text

Begins Suit to Recover $800,000, SIOUX CITY, July 13.-The Credits Commutation company, of this city, has begun suit against D. T. Hedges in the United States court in Los Angeles, Cala, to recover $600,000 on personal notes given by Hedges to the Union Loan and Trust company, which went under during the financial panic of 1833 Hedges was one of five men who operated the famous railroad syndicate during the boom days in Sioux City. He was the first to knock the props from under the tottering Union Loan and Trust company, resulting in its total collapse.