Union National Bank (Columbus, OH)

Episode Information

Episode UID
758401344
Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
75840 national
Charter Number
7584
Start Date
December 4, 1911
Location
Columbus, Ohio (39.961, -82.999)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7ac5f8243ad950cf

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1911-12-07
Date receivership terminated
1915-03-25
OCC cause of failure
Losses
Share of assets assessed as good
38.8%
Share of assets assessed as doubtful
36.2%
Share of assets assessed as worthless
24.9%

Description

The bank suspended due to a slow depletion of deposits over a year caused by rumors, rather than a sudden run; it was immediately placed in receivership for liquidation.

Events (4)

1. January 30, 1905 Chartered
Source
historical_nic
2. December 4, 1911 Suspension
Cause
Rumor Or Misinformation
Cause Details
Unfavorable rumors circulating for over a year depleted deposits to the point where directors voted to suspend.
Newspaper Excerpt
The Union National bank today posted a notice of suspension by resolution of the board of directors. It is further stated the bank is now in the hands of the comptroller of currency.
Source
newspapers
3. December 7, 1911 Receivership
Source
historical_nic
4. December 8, 1911 Receivership
Newspaper Excerpt
Richard W. Goodhart, national bank examiner and well known in banking circles throughout the country, has been appointed receiver of the Union National Bank, of Columbus, Ohio.
Source
newspapers

Newspaper Articles (18)

Article from Bismarck Daily Tribune, December 4, 1911

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Article Text

BANK SUSPENDS. (By Associated Press.) COLUMBUS, O., Dec. 4.-The Union National bank today posted a notice of suspension by resolution of the board of directors. It is further stated the bank is now in the hands of the comptroller of currency.


Article from The Hattiesburg News, December 4, 1911

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(By Associated Press.) Columbus, Ohio, Dec. 4.-The Union National Bank suspended today by a resolution of the Board of Directors. The bank is now in the hands of the Comptroller of the Currency. It is not believed the suspension will atfeet the financial situation. The


Article from The Barre Daily Times, December 4, 1911

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COLUMBUS BANK IN TROUBLE TO-DAY Union National Bank of the Ohio City Suspended To-day and Is Now in Hands of the Comptroller of the Currency. Columbus, O., Dec. 4.-The Union National bank of this city to-day posted a notice of suspension by the board of directors. It was further stated that the bank is now in the hands of the comptroller of the currency. It is not thought that the closing of the bank will have any effect on the local financial situation. The capital stock of the Union National bank is $750,000, and its surplus is $100,000. It is estimated that the deposits of the institution approach $2,000,000.


Article from Omaha Daily Bee, December 4, 1911

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Article Text

Columbus, 0., Bank Suspends Business COLUMBUS. O., Dec. 4.-The Union National bank today posted a notice of suspension by a resolution of the board of directors. It was further stated that the bank is now in the hands of the comptroller of the currency, As the action of the directors had been expected it is not thought the closing of the bank will have any effect on the local financial situation. The capital stock of the bank was $750,000, its surplus $100,000 and it is estimated that its deposits approximated $2,000.000. WASHINGTON Dec. 4.-The failure of the Columbus Union National bank involved a possible loss of about $860,000. according to reports to the comptroller of the currency. Assets to that extent covering the institution's capital, surplus and undivided profits appeared to be of questionable value


Article from Rock Island Argus, December 4, 1911

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THIRD AVENUE NEXT. With the ordinances for the paving of Fourth avenue and of Twentieth street well under way, the Second avenue proposition will secure the attention of the board. As soon as It has gone to the courts, the matter of repaving Third avenue will be taken up. When the business section has been cared for, the residence section streets will be given consideration. Efforts will be made to begin most of the repaving as soon as possible in the spring and complete the greater part of it before winter sets in. Columbus Bank Suspends. Columbus, Ohio, Dec. 4.-The Union National bank suspended today. The capital is $750,000 and deposits $2,000,000.


Article from The Marion Daily Mirror, December 4, 1911

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Article Text

COLUMBUS BANK FAILS TO OPEN DOORS Columbus, O,, Dec. 4.-The Union National bank, of Columbus, failed to open its doors for business today. Rumors, said to be unfavorable to its business standing, circulated for more than a year, so depleted the bank's deposits that the directors late yesterday adopted a resolution to suspend. National Bank Examiner R. W. Goodhart has (been placed in charge of the bank and will liquidate it. The bank's last report on September 1, showed deposits of $2,374,099. and surplus and undivided profits of $109,209. Its capital was $750,000.


Article from Norwich Bulletin, December 5, 1911

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sons. About 200 Men Were Laid Off at the plant of the Maxwell Eriscoe Automobile company at Cranston, R. I., yesterday. The Union National Bank of Colum bus, O.. yesterday posted notice of suspension by a resolution of the board of directors H. F. Gjorstan, Former State Senator the a leader of Norweglans in United and States, died in Minneapolis of heart disease. Five Hundred Trained Detectives have been assigned to the big Chicago retail stores to watch for shoplifters during the Christmas shopping season Reduction in th- Prices of Stanle cotton A goods manufactured in the B. B. R. Knight and the Goddards mills at & Providence went into effect yesterday. Seventeen Chinamen Were Arrested more than $8,00 worth of opium and confiscated by federal officials in a was raid yesterday on Philadelphia's Chi natown. Two Hundred Women Members of the Chicago No Vote No Tax league have signed their names to a pledge not to pay taxes voluntarily until they were aHowed to vote. The American Society of Mechanical Engineers, which has 4.000 members believes that the engineer should rank a with the lawyer and the financier as leader of public affairs. While More Than 100 Fellow Skaters around and watched her strug stood gles, unable to lend assistance, Hilda in Carlson, 18 years old, drowned Greens' pond, Fitchburg, Mass. Figures Recently Compiled Show Island that Massachusetts and Rhode in more deaths have been caused by illuminating gas than by scarlet fever, typhoid fever or infantile paralysis. John Jacob Astor Sent His Attorney that into police court yesterday to ask of sentence be suspended in the valuable case two young men who stole a robe off the hood of his automobile. Mrs. Ella Flagg Young, Superintendent of Chicago schools, believes that the building up of the bodies of the pupils of the public school is more im. portant than the training of the mind. Judge Holt of the United States Mc cir court yesterday appointed Dougall cuit Hawkes as receiver for the Robert P. Murphy Hotel company which runs the Hotel Albany, New York. Rudolph Blankenburg Was Inaugurated Mayor of Philadeiphia yesterday and for the first time in 27 years the city is governed by a man who was not elected by the republican organization. Declaring That Conditions in Mexico far from settled, Remresentative Burleson were of Texas resterday urged upon President Taft the necessity of keeping United States troops along the border. The People of Craig. Col., and its surrounding territory are aroused war over the probabilities of another sheep to that of 15 years ago, when several similar men were killed and thousands of sheep destroyed. A Bankrupt is Liable to Prosecution the if he swears falsely at for perjury of his creditors to in first meeting to a quire into his business, according decision yesterday by the supreme court of the United States. The Refusal of Harvard University last week to allow Mrs authorities Emmeline Pankhurst, the British suf fragette, to use Sanders theater for a has aroused a storm of protest among lecture, graduates and undergraduates. Suggestion That the Church Base. the ment A be used for courting by young people and for billiards, pool and bowling by the men was made by George Durgin at the Tremont street Dr. Methodist Episcopal church, Boston. The Removal of Dr. Alvah H. Doty, health officer of the port of New York, is recommended in a report to GoverDix yesterday by Charles N. Bul. nor who was appointed by the goverger, nor to investigate business and affairs of the office. Suit Was Filed in the United States circuit court at Cincinnati yesterday Attorney by United States District Sherman T. McPherson against the National Cash Register company of Dayton, O., charging the company with being a trust. The Trial of Isaao Harris and Max in Blanck, proprietors of the Triangle o Waist company,wh were charged with w manslaughter in the first and second after the fire in their factory on degrees March 25 wiped out 146 lives, began at New York yesterday. le to That James J. Keena and Edward F. a Duffy are entitled to hold the offices of city clerk and commissioner of public T of Norwalk, respectively. until 01 Jan. safety 1, 1912, was the opinion handed t down yesterday by Judge H. In Curtis TTL the superior court. President Gompers and Secretary Morrison of the American Federation ca of Labor, together with other labor C leaders, oppose the Baltimore suggesthat the McNamare defense fund cc tion distributed among the families of to the be victims of the Los Angeles Times 11 explosion. Without Consulting Speaker Champ Clark, his friends opened city headN quarters at St. Louis, Mo., yesterday nd state headquarters at Louisiana, N Mo., to further the movement to obtain the Missourian the democratic nomination for for the presidency in 1922.


Article from Norwich Bulletin, December 5, 1911

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Article Text

The Union National Bank of Columbus, O., yesterday posted a notice of suspension by a resolution of the board of directors.


Article from Ottumwa Tri-Weekly Courier, December 5, 1911

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COLUMBUS BANK IS CLOSED TODAY Union National Bank Suspends and is Now in Hands of Comptroller of The Treasury. Columbus, O., Dec. 10.-The Union National bank today posted a notice of suspension by a resolution of the board of directors. It was further stated that the bank is now in the hands of the comptroller of the currency. As the action of the directors had been expected it is not thought the closing of the bank will have any effect on the local financial situation. National Bank Examiner Goodhart of Washington has been in Columbus for some time going over the affairs of the bank. Saturday the Columbus Clearing House association appointed a committee of five to inquire into the bank's condition to see if it could extend support. The capital stock of the bank was $750,000, its surplus $100,000, and it is estimated that its deposits approximated $2,000,000.


Article from The Bennington Evening Banner, December 5, 1911

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BIG BANK SUSPENDS Union National of Columbus, Ohio, Has Deposits of $2,000,000 Columbus, Ohio, Dec. 4.-The Union National Bank today posted a notice of suspension by resolution of the board of directors. It is further stated that the bank is now in the hands of the comptroller of currency. It is not thought that the closing of the bank will have any effect on the local financial situation. The capital stock of the bank is three quarters of a million dollars and its surplus $100,000 and it is estimated that its deposits approximated $2,000,000.


Article from Omaha Daily Bee, December 5, 1911

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Columbus, 0., Bank Suspends Business COLUMBUS. O., Dec. 4.-The Union National bank today posted a notice of suspension by a resolution of the board of directors. It was further stated that the bank is now in the hands of the comptroller of the currency. As the action of the directors had been expected it is not thought the closing of the bank will have any effect on the local financial situation. The capital stock of the bank was $750,000, its surplus $100,000 and it is estimated that its deposits approximated $2.000,000. WASHINGTON, Dec. 4.-The failure of the Columbus Union National bank involved a possible loss of about $860,000, according to reports to the comptroller of the currency. Assets to that extent covering the institution's capital, surplus and undivided profits appeared to be of questionable value.


Article from Alexandria Gazette, December 5, 1911

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Bank Suspends. Columbus. 0., Dec. 5.-The Union National Bank yesterday posted a notice of suspension by a resolution of the board of directors. It was further stated that the bank is now in the hands of the comptroller of the currency. There are but a few small individual deposits in the bank, the most of them being large accounts of business houses and the county funds. The capital stock of the Union National Bank was $750,000, its surplus $100.000. and it is estimated that its deposits approximated $2,000,000.


Article from The Washington Herald, December 8, 1911

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Article Text

Appointed Bank Receiver. Richard W. Goodhart, national bank examiner and well known in banking circles throughout the country, has been appointed receiver of the Union National Bank, of Columbus, Ohio.


Article from The Diamond Drill, December 9, 1911

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COLUMBUS, OHIO-The Union National bank posted a notice of suspension by a resolution of the board of directors. It was further stated that the bank is now in the hands of the comptroller of the currency. --


Article from Iron County Register, December 14, 1911

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Ohio Bank Solvent, but Closes. Columbus, Ohio.-The State bank at Pleasantville has been forced to close .temporarily because of a run resulting from the failure of the Union National bank of Columbus. Bank Examiner Baxter declared the State bank solvent, and said it probably would reopen within a few days.


Article from Marble Hill Press, December 14, 1911

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Ohio Bank Solvent, but Closes. Columbus, Ohio-The State bank at Pleasantville has been forced to close temporarily because of a run resulting from the failure of the Union National bank of Columbus. Bank Examiner Baxter declared the State bank solvent, and said it probably would reopen within a few days.


Article from The Greenville Journal, December 14, 1911

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Bank is Closed by Rumors. The Union national bank of Columbus have decided to close its doors. Rumors unfavorable to its business standing, circulated for more than a year, so depleted the bank's deposits that the directors adopted a resolution to suspend. R. W. Goodhart, national bank examiner, has been placed in charge of the bank and will liquidate it. The bank's last report on Sept. 1 showed deposits of $2,374,099 and surplus and undivided profits of $109,209. Its capital was $750,000. The Union national bank figured in the suits brought by the state in 1909 to recover interest on state money deposited on private accounts by former state treasurers.


Article from Greene County Herald, December 15, 1911

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Ohio Bank Solvent, but Closes. Columbus, Ohio.-The State bank at Pleasantville has been forced to close temporarily because of a run resulting from the failure of the Union National bank of Columbus. Bank Examiner Baxter declared the State bank solvent, and said it probably would reopen within a few days