Home Savings Bank & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: October 14, 1905
Location: Phoenix, Arizona (33.448, -112.074)

Metadata

Model: gpt-5-mini
Short Digest: 1fc08d1c

Response Measures

None

Description

Article (Arizona Republican, 1905-10-14) states the Home Savings Bank & Trust Company 'defaulted.' No run on this bank is described (the run mentioned refers to the Germania bank). The wording indicates failure/closure due to bad bond losses borne by officers. No explicit reopening mentioned.

Events (1)

1. October 14, 1905 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank 'defaulted' after officers took bad bonds off the bank's hands and absorbed the loss—indicating bank-specific insolvency from bad bond holdings.
Newspaper Excerpt: THE HOME SAVINGS BANK & TRUST COMPANY ... defaulted. President Blaffer and his associates had taken the bonds off the hands of the bank and shouldered the loss themselves.
Source: newspapers

Newspaper Articles (1)

1. October 14, 1905 Arizona Republican Phoenix, AZ

Article from Arizona Republican, October 14, 1905

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Article Text

THE HOME SAVINGS BANK & TRUST COMPANY Between Hotel Adams and Postoffice, Phoenix, Ariz. defaulted. President Blaffer and his associates had taken the bonds off the hands of the bank and shouldered the loss themselves. While the run was on the Germania bank was quoted on the stock exchange at $1,500 a share, a rise of 10 points during the day. The bank is