9048. Guaranty Trust Company (Detroit, MI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
July 30, 1931
Location
Detroit, Michigan (42.331, -83.046)

Metadata

Model
gpt-5-mini
Short Digest
2335f4e0

Response Measures

None

Description

Multiple notices and court items state the Guaranty Trust Company of Detroit was thereafter placed in receivership and that the Detroit Trust Company was appointed receiver by an order of the Circuit Court dated July 30, 1931. No articles describe a depositor run; the bank was put into receivership (court action) and remained in receivership in subsequent years (closure).

Events (3)

1. July 30, 1931 Receivership
Newspaper Excerpt
the Guaranty Trust Company was thereafter placed in receivership and the DETROIT TRUST COMPANY, a Michigan corporation, having been appointed receiver, did continue the performance of the duties of trustee in acordance with the instructions entered under an order of the Circuit Court for the County of Wayne, dated July 30th. 1931; and that thereafter... (articles continue referencing the receivership).
Source
newspapers
2. July 30, 1931 Suspension
Cause
Government Action
Cause Details
Placed in receivership by order of the Circuit Court; Detroit Trust Company appointed receiver on July 30, 1931.
Newspaper Excerpt
the Guaranty Trust Company was thereafter placed in receivership and the DETROIT TRUST COMPANY, a Michigan corporation, having been appointed receiver, did continue the performance of the duties of trustee in acordance with the instructions entered under an order of the Circuit Court for the County of Wayne, dated July 30th. 1931;
Source
newspapers
3. April 1, 1932* Other
Newspaper Excerpt
JUDGE TO RULE IN RECEIVERSHIP CASE Will Decide Liability of Guaranty Trust Company Receivership. Detroit. April Judge Joseph Moynihan pected to rule Monday on the ability the Guaranty Trust Company receivership.
Source
newspapers

Newspaper Articles (7)

Article from Jackson Citizen Patriot, April 9, 1932

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Article Text

JUDGE TO RULE IN RECEIVERSHIP CASE Will Decide Liability of Guaranty Trust Company Receivership. Detroit. April Judge Joseph Moynihan pected to rule Monday on the ability the Guaranty Trust Company of now in for 100 per assessment on holdings. The company closed listing assets of An by the listed at which to the Wayne tional bank opposing contend the entitled to proceed against until all existing assets had sold and money turned to the creditors


Article from The Tribune Independent of Michigan, December 30, 1933

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A TRUE COPY D. P. Tillman, Deputy Clerk. o MORTGAGE SALE -- Default having been made in the terms and conditions of a certain moregage made by JOHN W. MATTLWS, a singgle man, of Detroit, Wayne County, Michigan, Mortgagor, to GUARANTY TRUST COMPANY OF DETROIT, a Michigan corporation, of the same place. Mortgagee, dated the 16th day of July, A. D. 1928, and recorded in the office of the Register of Deeds. for the County of Wayne and State of Michigan. on the 18th day of July, A. D. 1928, in Liber 2173 of Mortgages, onpage 337; and that the Guaranty Trust Company was thereafte placed in receivership and the DETROIT TRUST COMPANY, a ing WILL DE WILL Michigan corporation, having been appointed receiver, did continue the performance of the duties of trustee in acordance with the instructions entered under an order of the Circuit Court for the County of Wayne, dated July 30th. 1931; and that thereafter, to-wit. on the 28th day of November. A D. 1931, the UNION GUARDIAN TRUST COMPANY, a Michigan corporation. of Detroit, Michigan was appointed successor trustee of said mortgage. by order of the 01 Circuit Court for the County Wayne, said Order being recorde O in the Office of the Register Deeds for the County of Wayn State of Michigan, in Liber 262 of Mortgages, page 51; and tha thereafter, on, to-wit, the 15thday of September, A. D. 193: JAS. SWAN ELDRIDGE was al pointed successor trustee of sai mortgage, by Order of the Circu Court for the County of Wayn State of Michigan, and said a, pointment was accepted by JA. SWAIN ELDRIDGE in writin on the 16th day of September, 4 D. 1933 which said Order at 4 Acceptance were recorded in tl. Office of the Register of Dec for the County of Wayne, Sta ( of Michigan, on the 19th day September, A. D. 1933, and reco ded in Liber 1675 of Mortgage pages 627 and 630, respectively and that there is claimed to 1 due on said mortgage at the da of this notice, for principal a: le interest, the sum of TWO TH USAND SIXTY-NINE and 30c ($2,069.30) DOLLARS , e No suit or proceedings at law t. in equity having been institute b to recover the debt secured t. said mortgage or any part ther e of. Now, therefore, by virtue the power of sale contained said mortgage, and pursuant the statute of the State of Mich can in such case made and prov Ided, notice is hereby given the n TUESDAY, the THIRTEENT a lay of MARCH. A. D. 1934, 12:00 o'clock Noon. Eastern Stan lard Time, said mortgage will a foreclosed by a sale at public a action, to the highest bidder, the southerly or Congress street entrance to the County Buildin 'n' the City of Detroit, Wayne Co unty. Michigan, (that being th building where the Circuit Cour g for the County of Wayne is held of the premises described in said mortgage, or so much thereof a may be necessary to pay the a mount due, as aforsaid. on sai mortgage, with the interest there


Article from The Tribune Independent of Michigan, February 10, 1934

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1-6-2-17. MORTGAGE SALE -- Default having been made in the terms and conditions of a certain mortgage made by JOHN W. MATTEWS, a singgle man, of Detroit, Wayne County, Michigan, Mortgagor, to GUARANTY TRUST COMPANY OF DETROIT, a Michigan corporation, of the same place, Mortgagee, dated the 16th day of July, A. D. 1928, and recorded in the office of the Regiator of Deeds, for the County of Wayne and State of Michigan, on the 18th day of July, A. D. 1928, in Liber 2173 of Mortgages, onpage 337; and that the Guaranty Trust Company was thereafter placed in receivership and theDETROIT TRUST COMPANY, a Michigan corporation, having been appointed receiver, did continue the performance of the duties of trustee in acordance with the instructions entered under an order of the Circuit Court for the County of Wayne, dated July 30th, 1931; and that thereafter, to-wit, on the 28th day of November, A. D. 1931, the UNION GUARDIAN TRUST COMPANY, a Michigan corporation, of Detroit, Michigan, was appointed successor trustee of said mortgr.ge, by order of the cult Court for the County of Wayne, said Order being recorded in the Office of the Register of Deeds for the County of Wayne, State of Michigan, in Liber 2628 of Mortgages, page 51; and that thereafter, on, to-wit, the 15thday of September, A. D. 1933, JAS. SWAN ELDRIDGE was appointed successor trustee of said mortgage, by Order of the Circuit Court for the County of Wayne, State of Michigan, and said appointment was accepted by JAS. SWAIN ELDRIDGE in writing on the 16th day of September, A. D. 1933 which said Order and Acceptance were recorded in the Office of the Register of Deeds for the County of Wayne, State of Michigan, on the 19th day of September, A. D. 1933, and recorded in Liber 1675 of Mortgages, pages 627 and 630, respectively; and that there is claimed to be due on said mortgage at the date of this notice, for principal and interest, the sum of TWO THOUSAND SIXTY-NINE and 30c($2,069.30) DOLLARS. No suit or proceedings at law or in equity having been instituted to recover the debt secured by said mortgage or any part thereof. Now, therefore, by virtue of the power of sale contained in said mortgage, and pursuant to the statute of the State of Michigan in such case made and provIded. notice is hereby given that on TUESDAY, the THIRTEENTH day of MARCH, A. D. 1934, at 12:00 o'clock Noon, Eastern Standard Time, said mortgage will be foreclesed by a sale at public auction, to the highest bidder, at the southerly or Congress street entrance to the County Building n the City of Detroit, Wayne Cobeing the


Article from The Tribune Independent of Michigan, February 17, 1934

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Article Text

MORTGAGE SALE ** Default having been made in the terms and conditions of a certain mortgage made by JOHN W. MATTEWS, a Ninggle man, of Detroit, Wayne County, Michigan, Mortgagor, to GUARANTY TRUST COMPANY OF DETROIT. a Michigan corporation, of the same place, Mortgagee, dated the 16th day of July, A. D. 1928, and recorded in the office of the Register of Deeds, for the County of Wayne and State of Michigan, on the 18th day of July, A. D. 1928, in Liber 2173 of Mortgages, onpage 337; and that the Guaranty Trust Company was thereafter placed in receivership and the DETROIT TRUST COMPANY, a Michigan corporation, having been appointed receiver, did continue the performance of the duties of trustee in acordance with the instructions entered under an order of the Circuit Court for the County of Wayne, dated July 30th, 1931; and that thereafter, to-wit, on the 28th day of November, A. D. 1931, the UNION GUARDIAN TRUST COMPANY, a Michigan corporation, of Detroit, Michigan, was appointed successor trustee of said mortgage, by order of the Circuit Court for the County of Wayne, said Order being recorded in the Office of the Register of Deeds for the County of Wayne, State of Michigan, in Liber 2628 of Mortgages, page 51; and that


Article from The Tribune Independent of Michigan, March 3, 1934

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day of July, A. D. 1928, and recorded in the office of the Register of Deeds, for the County of Wayne and State of Michigan, on the 18th day of July, A. D. 1928, in Liber 2173 of Mortgages, on--page 337; and that the Guaranty Trust Company was thereafter placed in receivership and theDETROIT TRUST COMPANY, a Michigan corporation, having been appointed receiver, did continue the performance of the duties of trustee in acordance with the instructions entered under an order of the Circuit Court for the County of Wayne, dated July 30th, 1931; and that thereafter, to-wit, on the 28th day of November, A. D. 1931, the UNION GUARDIAN TRUST COMPANY, a Michigan corporation, of Detroit, Michigan, was appointed successor trustee of said mortgage, by order of the Circuit Court for the County of Wayne, said Order being recorded in the Office of the Register of Deeds for the County of Wayne State of Michigan, in Liber 2621 of Mortgages, page 51; and tha thereafter, on, to-wit, the 16thday of September, A. D. 1933 JAS. SWAN ELDRIDGE was ap pointed successor trustee of said mortgage, by Order of the Circuit Court for the County of Wayne, State of Michigan, and said appointment was accepted by JAS. SWAIN ELDRIDGE in writing on the 16th day of September, A. D. 1933 which said Order and Acceptance were recorded in the Office of the Register of Deeds for the County of Wayne, State of Michigan, on the 19th day of September, A. D. 1933, and recorded in Liber 1675 of Mortgages, pages 627 and 630, respectively: and that there is claimed to be due on said mortgage at the date of this notice, for principal and interest, the sum of TWO THOUSAND SIXTY-NINE and 30c($2,069.30) DOLLARS. No suit or proceedings at law or in equity having been instituted to recover the debt secured by said mortgage or any part thereof. Now, therefore, by virtue of the power of sale contained in said mortgage, and pursuant to the statute of the State of Michigan in such case made and provIded. notice is hereby given that on TUESDAY, the THIRTEENTH day of MARCH. A. D. 1934, at 12:00 o'clock Noon, Eastern Standard Time, said mortgage will be foreclosed by a sale at public auction, to the highest bidder, at the southerly or Congress street entrance to the County Building n the City of Detroit, Wayne Cointy. Michigan, (that being the building where the Circuit Court for the County of Wayne is held) of the premises described in said mortgage, or so much thereof as may be necessary to pay the amount due, as aforsaid, on said mortgage, with the Interest thereon at seven percent (7%) and all legal costs, charges and expenses., including the attorney fees allowed by law, and also any sum or sums which may be paid by the mortgagee, necessary to protect his interest in the premises. Which said premises are described as follows: All that certain piece or parcel of land situato in the City of Detroit, in the County of Wayne and State of Michigan, and described as follows, to-wit: Lot numbered One Hundred Sixty-three (163) HANNAN'S "BELT LINE ADDITION" being part of Private Claim 678, as recorded in ne County, Michigan, Records. Dated at Detroit, Michigan, December 13th, 1933. Jas. Swan Eldridge,' Assignee - Mortgagee. 12-23-1983. Jas. Swan Eldridge,


Article from The Tribune Independent of Michigan, March 10, 1934

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2-3-3-17 MORTGAGE SALE -- Default having been made in the terms and condit.ons of a certain mortgage made by JOHN W. MATTEWS, a singgle man, of Detroit, Wayne County, Michigan, Mortgagor, to GUARANTY TRUST COMPANY OF DETROIT, a Michigan corporation, of the same place, Mortgagee, dated the 16th day of July, A. D. 1928, and recorded in the office of the Register of Deeds, for the County of Wayne and State of Michigan, on the 18th day of July, A. D. 1928, in Liber 2173 of Mortgages, onpage 337; and that the Guaranty Trust Company was thereafter placed in receivership and the DETROIT TRUST COMPANY, a Michigan corporation, having been appointed receiver, did continue the performance of the duties of trustee in acordance with the instructions entered under an order of the Circuit Court for the County of Wayne, dated July 30th, 1931; and that thereafter, to-wit, on the 28th day of November, A. D. 1931, the UNION GUARDIAN TRUST COMPANY, a Michigan corporation, of Detroit, Michigan, was appointed successor trustee of said mortgage, by order of the Circuit Court for the County of Wayne, said Order being recorded in the Office of the Register of Deeds for the County of Wayne, State of Michigan, in Liber 2628


Article from The Tribune Independent of Michigan, March 17, 1934

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Article Text

2-3-3-17 MORTGAGE SALE -- Default having been made in the terms and condit.ons of a certain mortgage made by JOHN W. MATTEWS, a singgle man, of Detroit, Wayne County, Michigan, Mortgagor, to GUARANTY TRUST COMPANY OF DETROIT, a Michigan corporation, of the same place, Mortgagee, dated the 16th day of July, A. D. 1928, and recorded in the office of the Register of Deeds, for the County of Wayne and State of Michigan, on the 18th day of July, A. D. 1928, In Liber 2173 of Mortgages, onpage 337; and that the Guaranty Trust Company was thereafter placed in receivership and the DETROIT TRUST COMPANY, a Michigan corporation, having been appointed receiver, did continue the performance of the duties of trustee in acordance with the instructions entered under an order of the Circuit Court for the County of Wayne, dated July 30th, 1931; and that thereafter, to-wit, on the 28th day of November, A. D. 1931, the UNION GUARDIAN TRUST COMPANY, a Michigan corporation, of Detroit, Michigan, was appointed successor trustee of said mortgage, by order of the Circuit Court for the County of Wayne, said Order being recorded in the Office of the Register of Deeds for the County of Wayne, State of Michigan, in Liber 2628