6336. Union Loan & Trust Company (Union City, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
December 1, 1930*
Location
Union City, Indiana (40.202, -84.809)

Metadata

Model
gpt-5-mini
Short Digest
cf3430df

Response Measures

None

Description

Newspapers report the Union Loan & Trust Company had recently closed by action of the Indiana state banking department and a receiver was appointed Jan 23, 1931 to liquidate assets and facilitate formation of a new Union Trust Company. No run or depositor panic is described; the closure appears to be by state action and leads to receivership.

Events (2)

1. December 1, 1930* Suspension
Cause
Government Action
Cause Details
Closed by the Indiana state banking department (state regulatory action).
Newspaper Excerpt
stock was liberally subscribed and freely signed by depositors in the Union Loan and Trust Company which closed recently ... of the Indiana state banking department.
Source
newspapers
2. January 23, 1931 Receivership
Newspaper Excerpt
Russell E. Wise, local attorney, was appointed receiver for the Union Loan and Trust Company by Judge A. L. Bales ... The appointment was made at the joint request of officers of the Union Loan and Trust Company and the state banking department. The appointment was made to expedite the organization of the new Union Trust Company and to liquidate the assets of the old bank which are not taken over by the new institution. (The Star Press, Jan. 24, 1931).
Source
newspapers

Newspaper Articles (2)

Article from The Star Press, January 1, 1931

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Article Text

STOCK IN BANK IS BEING SOLD First Day's Solicitation Satisfactory at Union City. Union City, Ind., Dec. bers of the committee to solicit stock for the new bank to be organized here reported satisfactory success at the end of the first day Wednesday evening. Stock was liberally subscribed and freely signed by depositors in the Union Loan and Trust Company which closed recently W Lower of the Indiana state banking department. assisting in the work and remaining to give advice to all who desire to know the plans of the new John M. Shockney, Democrat. who will become trustee of Wayne Township Thursday morning, will open his office on second floor of the Commercial Bank and Trust Company building on Columbia street. He formerly served as trustee from 1914 to 1918. and was member of the township advisory board several years. Edward Curtner. Republican. who will become trustee of Jackson Township (Indiana) will have his office in his home northwest of this city The Young People's Class of the South Salem Sunday School had party Monday evening at the home Dorothy and Earl south of the city. bobsled ride one'of the features of the evening. Welfare Group to Meet. A meeting of the Union City Welfare Association be held in the city offices at o'clock Friday evening. report of the charity work during the past few weeks will be made. The G. G. G Society had its annual Christmas party evening After the dinner at the Cottage Hotel the and guests entertained in the home of Miss Martha Castle The West Side school board is retiring all stock in the Union City Holding Company which was organized to assist in the construction of the new school building in 1919 All outstanding stock certificates will be exchanged for warrants Union City Short Notes. The Ticknor Club will meet on Thursday afternoon, January 8. with Mrs. Keffer The East Side School. Wayne Wilson and (Ind.) schools will resume Monday Merle S. Ward will speak to the West Side High School Friday afternoon on "European Shrines. On Saturday night he will leave for Valley N. D. The Jr. A. M. had an oyster supper in its hall Wednesday night. The Elks will keep open house Thursday with luncheon and entertainment at noon Mrs. George Adams. of Fort Recovery. O., underwent operation at the City Hospital Wednesday morning John Stotler of Eaton. O., made trip here Miss Estelle Leonard and Miss Rosa Ladd have returned from IndianapMr. and Mrs. Charles Gopp will go to Orlando Fla., next week. Donald Thompson has accepted position in the office of the R. Kirshbaum store. Mr and Mrs. Lucian Summers entertained the employes of the Boston store Monday evening Mr and Mrs. A. French Miss Hortense Meloy and Robert Evans went to Newcastle Wednesday to tend meeting of the Interstate Public Service Company Miss Sarah Murphy is visiting in Denzil Shurte and O Ellis have returned from visit in Detroit Justice George Eberling has returned from St. Louis, where he spent Mrs. Hartzell Henry Taylor Mr. and Mrs attended the funeral of a relative at Montpelier Tuesday Sister M. Trinitas of St Mary's and Sister M. Lucile of Woodstock, Ill. have returned to their places after spending their vacation with their parents, Mr and Mrs. John Weber. Henry Mangas has taken charge of the Warren store Lynn and has moved his family there Hubert Hindsley family have returned to Cleveland after spending Christmas and the holidays here Robert and Joseph Connelly of Mt Carmel Ill., visiting Mrs. Mary Connelly and daughters


Article from The Star Press, January 24, 1931

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Article Text

LAWYER NAMED BANK RECEIVER Would Speed Reorganization at Union City. Union City, Ind., Jan. 23.-At a hearing held in Winchester Friday morning Russell E. Wise, local attorney, was appointed receiver for the Union Loan and Trust Company by Judge A. L. Bales of the Randolph Circuit Court The appointment was made to expedite the organization of the new Union Trust Company and to liquidate the assets of the old bank which are not taken over by the new institution. The appointment was made at the joint request of officers of the Union Loan and Trust Company and the state banking department. The Union City (Ind. Garden Club met Wednesday evening at the home of Mrs. Elsie Hission. The musical program included two vocal solos by Mrs Donald Turner: two piano solos by Miss Mary Jane Hission: two violin solos by W. D. Koch. accompanied by Miss Edith Voisinet. Harvey Lewis of Tippecanoe City, O., gave an address Mrs. A. H Trine read poem composed by Mrs. Byrum, and Mrs. Virgil Bartholomew talked on bulbs and bog gardens. The February meeting of the club will be held at the home of Mrs. Roll Hill. Wed at Catholic Rectory. Paul Patterson, who makes his home with Mr. and Mrs. John Lally north of here. and Miss Ogoa Skidmore, daughter of Mr. and Mrs. Omer A. Skidmore, living south of the city, were married Tuesday evening at St Marys rectory the Rev. Father M. F. Shea officiating Announcement has been received here of the marriage of Raymond C. Eyer son of Mr and Mrs. Frank Eyer. of Hillgrove and Miss Anna Louise German of Richmond Center Wis The was performed in Chicago Presbyterian Church on January 15. The couple will reside in Chicago Union City Short Notes. The American Legion Auxiliary will serve corn bread and bean supper at Legion hall next Thursday evening At the Christian Church Sunday morning the Rev C. G McCallister will preach on "The Christian FamBy At the evening service his theme will be Will Jesus Be Outgrown Ralph Thornburg will play a cornet The Union City games in the Saratoga tournament Saturday will be broadcast The Rev E. S. Weimer conducted devotional exercises for the East Side High School Friday morning The followi were honor students of the East Side High School during the first semester Roscoe Nichols, freshman: Denver Burkett and Kenneth DeLong. juniors free concert will be given at the school auditorium Sunday afternoon by the Cecilian Club. Charley Smilev has qualified as administrator of the estate of Jacob A Smiley Mrs Anderson Miller of Portland an operation at City Hospital Friday morning