Union Trust Company - Indianapolis, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: March 17, 1883
Location: Indianapolis, Indiana (39.768, -86.158)

Metadata

Model: gpt-5-mini
Short Digest: 20f4af5f

Response Measures

None

Description

Article (Wheeling Sunday Register, Mar 18, 1883) reports a receiver was appointed for the Union Trust Company in Indianapolis on March 17, 1883. Described as a swindle; no run mentioned. Receiver indicates likely permanent closure.

Events (1)

1. March 17, 1883 Receivership

Newspaper Excerpt: The receiver appointed to take charge of the Union Trust Company, located in this city, reports ... Mr. Collier, the manager, has been absent in Chicago since the receiver was appointed.
Source: newspapers

Newspaper Articles (1)

1. March 18, 1883 Wheeling Sunday Register Wheeling, WV

Article from Wheeling Sunday Register, March 18, 1883

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Article Text

Showing Up a Swindle. INDIANAPOLIS, IND., March 17.-The'receiver appointed to take charge of the Union Trust Company, located in this city, reports that the concern has been in existence about one year, during which time nearly $200,000 has been taken in and $50,000 paid out. The victims to the swindle number about five hundred. The average amountreceived from each is $40. The investigation thus far show the assets to consist of some office furniture and a cord or more of circulars. The liabilities cannot be ascertained at present, but it is not likely the concern will pay anything. Mr. Collier, the manager, has been absent in Chicago since the receiver was appointed. He is interested in a similar institution known as the Union Benefit Association. The Indiana concern has been doing business in Illinois, Ohio, Kentucky, Tennessee, Mississippe, Missouri and Alabama.