United Labor Bank & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: December 1, 1932*
Location: Indianapolis, Indiana (39.768, -86.158)

Metadata

Model: gpt-5-mini
Short Digest: 68b7c1a4

Response Measures

None

Description

Article (Chicago Tribune, 1932-11-06) reports the United Labor Bank & Trust Co. notified depositors it would suspend/close in December and pay depositors in full. No run is mentioned; this appears to be a voluntary closure due to insufficient business.

Events (1)

1. December 1, 1932* Suspension

Cause: Voluntary Liquidation
Cause Details: Bank notified depositors it would suspend/close in December because the volume of business did not justify continuing; depositors to be paid in full.
Newspaper Excerpt: Come and get your money at your convenience. Officials said the volume of business does not continuing and that depositors will be paid in full.
Source: newspapers

Newspaper Articles (1)

1. November 6, 1932 Chicago Tribune Chicago, IL

Article from Chicago Tribune, November 6, 1932

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Article Text

LABOR TO CLOSE INDIANA BANK, PAYING IN FULL Indianapolis, Ind., Nov. United Labor Bank and Trust company of Indianapolis, of which John L. Lewis, president of the United Mine Workers of America, is president, today it would suspend Dec. notice sent to depositors said: Come and get your money at your convenience. Officials said the volume of business does not continuing and that depositors will be paid in full. The bank was founded nine years ago. It is capitalized at $112,500 and its last report showed deposits of $98,000.