Union Trust Company (Baltimore, MD)

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UNION TRUST COMPANY CLOSES

Receiver Appointed and Gives a Million-Dollar Bond. BALTIMORE, October 19.-The Union Trust Company closed its doors at 1:15 p.m. Miles White, jr., has been appointed receiver of the company, and filed bond for $1,000,000. Miles White, jr., who is one of the vice presidents of the Union Trust Company, and who has been appointed receiver, states that the closing of the doors of the company was due to a run upon it by depositors in consequence of the announcement of the failure of the Maryland Trust Company. It is stated that there are no business connections whatever between the two suspended companies. NEW YORK, October 19.-The Union Trust Company of Baltimore, according to a recent statement, had a paid-up capital of $1,000,000, a surplus of $250,000 and undivided profits of $159,000

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CLOSED ITS DOORS

Run of the Depositors Causes Union Trust Company of Baltimore to Suspend. Baltimore Oct. 19-The Union Trust company closed its doors this afternoon. Miles White, Jr., was appointed receiver. The Union Trust company had a paid up capital of a million dollars, a surplus of $250,000, and undivided profits of $155,000. The Union company had on deposit at last statement $1,935,000. Its loans were $1,418,000. George W. Blackstone is president of the company. Receiver White said the closing was due to a run of the depositors in consequence of the failure of tne Maryland company. There were no business connections between the two companies.

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ANOTHER FAILURE

Baltimore, Oct. 19.-Following the announcement of the failure of the Maryland Trust Co., announcement was made of the failure of the Union Trust Co., caused by a run on it by depositors in consequence of the Maryland failure. Miles White was appointed receiver with $2,000,000 bonds.

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BIG TRUST COMPANY SUSPENDS Baltimore Trust Company with Deposits of Over Five Million Suspends Payment=== Other Financial Institutions Embarrassed. Baltimore, Oct. 19.-The Maryland millions of dollars. The Union Trust Trust company closed its doos this company, capital one million, also susmorning. It had deposits of over five pended this afternoon.

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TRUST COMPANY QUITS

Another Baltimore Concern Closes Its Doors. Baltimore, Md., Oct. 19.-The Union Trust Co. closed its doors this afternoon. Miles White, Jr., is appointed receiver. The Union Trust Co. had a paid up capital of $1,000,000, surplus $250,000 and undivided profits 259,000. The Union Trust Co. had on deposit at last statement, $1,935.000; loans were $1.418.000. Gorge W. Blackstone is president of the company. Receiver White said closing was due to a run of depositors in consequence of the failure of the Maryland Trust company. There were no business connections between the companies.

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BIG TRUST COMP ANIES SUSPEND Baltimore. Md., Oct. 19.-The Maryland Trust company closed its doors this morning. The company holds deposts of over $5,000,000. The Union Trust company, capital one million, was forced to snspend this afternoon.

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Two Baltimore City trust companiesthe Maryland and Union-closed their doors yesterday and went into the hands of receivers.

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New-York Daily Tribune

TUESDAY, OCTOBER 20, 1903.

THE NEWS THIS MORNING.

FOREIGN.-A draft of the decision reached by the Alaska Boundary Commission was signed by a majority of the commissioners, Mr. Aylesworth and Sir Louis A. Jetté refusing to adix their names: the award of the tribunal will be read in public to-day. John Morley, speaking at Manchester, made a spirited attack on the policy of protection, and upheld the measures of Cobden and Bright; Sir Robert Finlay, the Attorney General, spoke in opposition to Mr. Balfour's plans. A dispatch from Yokohama said that the Russo-Japanese negotiations had again temporarily ceased; a majority of the Russian warships left Port Arthur, and the Japanese squadron sailed from Masanpho. An indictment against Alonzo Cruzen, Collector of Customs at San Juan, P. R., was made of no effect by the action of the District Attorney. The freedom of the city of Waterford was bestowed on Andrew Carnegie. A satisfactory trial of M. Santos-Dumont's new dirigible balloon was held near Paris. The British battleship Prince George, injured in a collision with the Hannibal, was beached at Ferral.

DOMESTIC.-The Maryland Trust Company and the Union Trust Company, both of Baltimore, went into the hands of receivers; there were also failures of two banks in Wisconsin and one in Washington State and one in California. President Roosevelt is expected to issue his proclamation to-day calling Congress to meet in extraordinary session on November 9. The President has directed that men removed from the Philadelphia Mint for political reasons be reinstated. The Immigration Bureau has discovered evidence of extensive violations of the Contract Labor law, by which hundreds of Welsh miners are being brought to this country. Eight men were killed and five seriously injured by an accident at the new Wabash Bridge in Pittsburg. William Carthew was arrested in California charged with embezzling $100,000 from a bank in this city.

CITY.-Stocks were down 1 to 3 points. "Boss" McLaughlin triumphed over Senator McCarren at the meeting in Brooklyn of the Kings County Democracy General Committee. W. S. Devery intimated that Charles F. Murphy was receiving protection money from a disorderly house. Mayor Low was enthusiastically received at four fusion meetings which he addressed on the East Side. Colonel McClellan spoke at two Democratic meetings in Brooklyn, at one of which Controller Grout told how his bargain was made with Tammany, and at one meeting in Manhattan.

THE WEATHER.-Indications for to-day: Fair, fresh southwest winds. The temperature yesterday: Highest, 58 degrees; lowest, 44.

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Suspension Was Not Necessary

Baltimore, Md., Oct. 21.-It is common talk in financial circles that the closing of the Union Trust company was entirely unnecessary, being simply a case of lost nerve. Receiver White expects the bank to re-open for regular business next Monday.

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BALTIMORE, Md., Oct. 21.-It is common talk in financial circles that the closing of the Union Trust company was entirely unnecessary-a case of lost nerve. Receiver White expects the bank to reopen for regular business on Monday.

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The doors of the Maryland Trust Co. and the Union Trust Co., both of Baltimore, were closed Monday. Receivers were named for both companies. The suspensions caused great excitement in financial circles.

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Lost Their Nerve

Baltimore, Oct. 21.-It is common talk in financial circles that the closing of the Union Trust Company was entirely unnecessary, it being a case of lost nerve. Receiver White expects the bank to reopen for regular business Monday.

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Two Big Trusts Fail

Baltimore, Md., Oct. 20.-The Maryland Trust Company failed yesterday and the announcement was quickly followed by another that the Union Trust Company had closed its door. The liabilities of the two concerns are over $10,000,000. The Maryland company made bad investments in Mexican railway securities. The Union company suffered from a run and is crippled by losses in Virginia railway stocks.

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Financial Institutions Swamped

The Maryland Trust Company and the Union Trust Company, counted among the strongest financial institutions in Baltimore, have closed their doors and passed into the hands of receivers. Inability to realize on investments is attributed as the cause.

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Trust Companies Fail

Loans amounting to $6,000,000 made to the Vera Cruz & Pacific Railroad, for which it acted as fiscal agent, caused the Maryland Trust Company, of Baltimore, to close its doors on Monday. Its suspension was followed in a short time by the failure of the Union Trust Company, in the same city, which was unable to withstand a run upon it by depositors starting soon after the first failure became generally known. About $150,000 was withdrawn before the company closed its doors. The total liabilities of the two companies exceed $10,000,000, the city of Baltimore having $300,000 on deposit with the Maryland Trust Company.

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To Resume Business

: BY ASSOCIATED PRESS. Baltimore, Md., Dec. 22.-The - board of directors of the Union Trust company, placed in the hands of a receiver about two months ago, has decided to resume business.

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Trust Company Resumes

Baltimore, Dec. 23.-The Union Trust company, which went into the hands of a receiver Oct. 19, opened its doors today and resumed business.

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BALTIMORE UNION TRUST COMPANY REOPENS DOORS Baltimore, Dec. 23. The Union Trust company, which went into the hands of a receiver Oct. 19, opened its doors today and resumed business.

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Baltimore-The Union Trust Company, which went into the hands of a receiver on Oct. 19. opened its doors yesterday and resumed business.