Security Trust Company (Toledo, OH)

Episode Information

Episode UID
56000371609
Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
trust
Bank ID
5600037 routing
Routing Number
56-0003
Start Date
January 4, 1934
Location
Toledo, Ohio (41.664, -83.555)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7bba4cf43334b89a

Response Measures

None

Description

OCR shows variant name 'Security Home Trust Company'; articles describe a one-day run forcing closure next morning.

Events (2)

1. January 4, 1934 Run
Cause
Bank Specific Adverse Info
Cause Details
Reports that some of the trust's records were lost or missing, undermining confidence and prompting heavy withdrawals.
Measures
Bank was forced to close its doors the next morning.
Newspaper Excerpt
frantic $1,717,000 from the Security Home Trust Company here in day, precipitating forced the bank to the next morning
Source
newspapers
2. January 5, 1934 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closure followed the one-day run tied to missing or questioned records at the trust.
Newspaper Excerpt
precipitating that forced the bank close doors the next morning
Source
newspapers

Newspaper Articles (2)

Article from The News-Messenger, January 5, 1934

Click image to open full size in new tab

Article Text

GRAPHIC BANK'S RUN Senate Committee Hears of Withdrawals From Toledo Institution O., frantic $1,717.000 from the Security Home Trust Company here in day, precipitating forced the bank to the next morning, today was the being sketched before the state bank committee probing closed Toledo banks. Edward Falkenstein, special vestigator the legislative mittee, reported that $10,781,000 withdrawn the year before the Home Trust Company failed on June 16, 1931. crash, said, hurried one-day run which more 1,000,000 was manded by He bombshell into the hearing when he made definite that some the records of the trust were "either lost or Questioned by Marshall, of the reitthat he had been unable find some records that he regarded Senator Lewis, committee member, made recommendations for drastic changes laws during the state of the hearing He urged that be regulated, that be on investments bonds and foreign securities, loans directors be limited that number of men on the board of directors be cut small number. Some of recommendations are embodied in the federal reserve banking laws.


Article from The Daily Sentinel-Tribune, January 5, 1934

Click image to open full size in new tab

Article Text

RUN CLOSED SECURITY Jan. depositors withdrew from the Security Home Trust company here in day precipitating that forced the bank close doors the next morning today was the story being sketched before the state bank investigating committee probing closed Toledo banks. Edward Falkenstein. special vestigator for the committee, reported that the year before the Home Trust company failed on June The crash, he said, hurried by one-day run in which more than was demanded patrons. He threw bombshell into the hearing when he made definite statement that some of the records the trust company were or missing." comptroller of the currency today national banks, for reports as of the close of busDec.