Union Trust Company - Madison, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: August 11, 1932
Location: Madison, Illinois (38.683, -90.157)

Metadata

Model: gpt-5-mini
Short Digest: 444dc489

Response Measures

None

Description

Article states the Union Trust Company of Madison closed ... on August 11 to liquidate, indicating a suspension that became a permanent closure/liquidation. No run is mentioned. A court-appointed receiver was named in December to collect sums from stockholders.

Events (2)

1. August 11, 1932 Suspension

Cause: Voluntary Liquidation
Cause Details: Bank closed on August 11 to liquidate its affairs (closure announced as liquidation).
Newspaper Excerpt: creditors of the Union Trust Company of Madison which closed 114 business on August 11 to liquidate
Source: newspapers

2. December 22, 1932 Receivership

Newspaper Excerpt: obtained an order from Judge Jesse R Brown naming Arthur Laur of Granite City receiver He required to give bond of 000 and to receive amounts due from stockholders.
Source: newspapers

Newspaper Articles (1)

1. December 23, 1932 The Edwardsville Intelligencer Edwardsville, IL

Article from The Edwardsville Intelligencer, December 23, 1932

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Article Text

CREDITORS BILL ENFORCE LIABILITY Present and Former Stockholders of Union Trust Company May be Required Pay Amounts. NEW SUPREME COURT DECISION INVOLVED Three Creditors Have Arthur L. Laur of Granite City Appointed to Receive Sums Due. ereditors of the nton Trust Company of Madison which closed 114 business on Ausust 11 to liquidate filed bill to enforce stock bolders' Hability in the effcuit court late yesterday afternoon and obtained an order from Judge Jesse R Brown naming Arthur Laur of Granite City receiver He required to give bond of 000 and to receive amounts du. from stockholders. Hosides the 25 who owned stock the time the bank suspended operations. 102 who owned shares vallperiods organization on No. 22. 1919. are made defendBRIS Lawyers said today that "sweeping decision the supreme court about 411 months RED makes former stockholders liable in case the bank is closed The three filing the suit are Heary Lastin. Anna Stoyanoff and Rada Coste and they make M. Datiow and others defendants. Kastin claims Stoyanon $1500 17 and Co$2902 The records about 700 other creditors The court records state that some the are now ready and willing to pay their liabilities but there 14 no one to receive the sums. Various amounts the bank 14 said to accounts posits Demand deposits Outstanding drafts The 25 who owned stock when the bank suspended and shares held each John Houster. Madison 10 10 Walter W Bowher 50 Leonard Carson. chanon 10 160 Pobt Dron. Madison 10 Name D. Evangeloff. Madison 10 John Frangonils Madison 10 15 12 M. Henson, Collinsville 10 Lee. Venice 20 Jac. Lubelchek. Mt Pleasant. to H. G. McElhinnes. Madison 10 Lazar and Andrea Palcheff. Mad10 Wm. Parker, Madison 10 Jos. W. Podnai, Madison Naum G. Popovaky. Madison 20 10 Jerry Raggos, Madison Tarpon. Europe 15 Veschuroff. Madison 10 G. Wilson, Venice Kosta Yankoff, Madison 10