Standard Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: July 19, 1942
Location: Detroit, Michigan (42.331, -83.046)

Metadata

Model: gpt-5-mini
Short Digest: cbc921c3

Response Measures

None

Description

Article (Detroit Evening Times, 1942-07-19) reports the Standard Trust Company is in receivership (James E. Atkinson, receiver) and is paying deposit claims with authorization from the Michigan State Banking Department and a circuit judge. No run is described in the provided text. Cause of suspension/closure is government action (placement in receivership).

Events (2)

1. July 19, 1942 Receivership

Newspaper Excerpt: James E. Atkinson, receiver for the Standard Trust Company, announced that interest in full is being paid ... Distribution was authorized by the Michigan State Banking Department and approved by Circuit Judge Homer Ferguson.
Source: newspapers

2. * Suspension

Cause: Government Action
Cause Details: Placed in receivership by the Michigan State Banking Department; distribution of funds authorized by the department and approved by the court.
Newspaper Excerpt: Distribution was authorized by the Michigan State Banking Department and approved by Circuit Judge Homer Ferguson.
Source: newspapers

Newspaper Articles (1)

1. July 19, 1942 Detroit Evening Times Detroit, MI

Article from Detroit Evening Times, July 19, 1942

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Article Text

# Closed Bank Paying # Full Interest on Claims James E. Atkinson, receiver for the Standard Trust Company, announced that interest in full is being paid at this time to holders of certificates of deposit, Christmas club and savings depositors. Distribution was authorized by the Michigan State Banking Department and approved by Circuit Judge Homer Ferguson.