9582. West St Louis Trust Company (St Louis, MO)

Bank Information

Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
trust
Start Date
January 13, 1933
Location
St Louis, Missouri (38.627, -90.198)

Metadata

Model
gpt-5-mini
Short Digest
7d743a369ec9a879

Response Measures

None

Description

Contemporary newspapers report that the West St. Louis Trust Co. closed its doors Jan 13, 1933 'due to heavy withdrawals' after several other local banks had closed; later (1934 article) it is listed as 'receiver' in an RFC loan report, indicating permanent closure and receivership. I infer the run/suspension on 1933-01-13 led to permanent closure/receivership by late 1933 (RFC report references loans during November, see notes). Dates from articles used as provided; receivership date is set to the RFC report cutoff (1933-11-30) because the 1934 article states the company was in receivership and RFC authorized loan amounts 'during November' and 'up to November 30.'

Events (3)

1. January 13, 1933 Run
Cause
Local Banks
Cause Details
Heavy withdrawals driven by closing of several nearby St. Louis banks; reports say 'unprecedented run... caused by the closing of several banks in the adjacent territory.'
Measures
Bank closed its doors temporarily; notice said directors deemed it advisable to close temporarily to protect depositors.
Newspaper Excerpt
Heavy withdrawals, which resulted in the closing of three banks yesterday and two others within the past eight days, were believed responsible.
Source
newspapers
2. January 13, 1933 Suspension
Cause
Local Banks
Cause Details
Directors closed the bank 'due to heavy withdrawals' stemming from runs triggered by other nearby bank closings.
Newspaper Excerpt
notice on the door of the West St. Louis Trust Company stated that 'due to heavy withdrawals the directors deem it advisable to close this bank temporarily in order to protect and safeguard the interests of depositors.'
Source
newspapers
3. November 30, 1933 Receivership
Newspaper Excerpt
the West St. Louis Trust Company (receiver), $432,000. ... None of this amount was disbursed up to November 30.
Source
newspapers

Newspaper Articles (5)

Article from The Washington Daily News, January 13, 1933

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Article Text

TWO MORE ST. LOUIS BANKS CLOSE; HEAVY RUN BLAMED By United Press' ST. LOUIS-The St. Louis National Bank and the West St. Louis Trust Co., were closed here today. Heavy withdrawals, which resulted in the closing of three banks yesterday and two others within the past eight days, were believed responsible.


Article from Freeport Journal-Standard, January 13, 1933

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Article Text

LOUIS BANKING TROUBLES St. Louis. more the smaller banks the Louis the Louis National bank and Olive streets, and the West Louis Trust Co., closed their doors today. making total of eight closings within nine days.


Article from The Kansas City Star, January 13, 1933

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Article Text

MORE ST. LOUIS BANKS CLOSE. Heavy Withdrawals Force Action by Two Depositories. ST. LOUIS, Jan 13.-Two St Louis banks closed their doors this morning. The closing actions followed the shutting down of six other banks in St. Louis and suburbs in the last ten days. The two institutions which closed today were the St Louis National Bank and the West St. Louis Trust Company. notice on the door of the West St. Louis Trust Company stated that "due to heavy withdrawals the directors deem it advisable to close this bank temporarily in order to protect and safeguard the interests of deposiThe Savings Trust Company of St Louis. whose statement September 10 showed total deposits of $1,714,389 closed yesterday. Officers of the Savings Trust Company said it had been closed to protect depositors, and "that an unprecedented run on the bank caused by the closing of several banks in the adjacent territory was the cause of heavy withdrawals. Helen Twelvetrees to Resume Her Role as an Actress. Miss Twelvetrees, who gave up her screen contract when her son was born two months ago. said long-term yesterday had signed a new agreement she to play in films. In private life Miss Twelvetrees is the wife Frank Woody.


Article from The Kokomo Tribune, January 14, 1933

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Article Text

the (Irst in the modest home of Martha and Mary following the death of Lazarus. the second is the burial in accord with Eastern custom and the third shows Jesus A cordint invitation to attend is given to the public. Two SL Louis Banks Close more of the smaller banks In the St. Louis District, the St. Louis National bank. and the West St. Louis Trust Co., closed their doors Friday. making a total of eight closing within nine days. The SL Louis National bank was capitalized at $200,000 and had rcsources or $2,128,285. The West St. Louis Trust Co.. had $200,000 capital stock and $2,168,732 resources.


Article from Daily American Republic, January 25, 1934

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Article Text

DISTRICT By The Associated Press. Washington, Jan. tion during November of loans to six banks and trust companies of Missouri totaling was reported to Congress by the Reconstruction Finance Corporation. None of this amount was disbursed up to November 30. They were the First National Bank of Clayton, $20,000; the St. Louis County Bank of Clayton, $60,000; the Bartlett Trust Company (receiver), St. Joseph, $125,000; the Cherokee National Bank of St. Louis (receiver), $205,000; Scruggs, Vandervoort Barney Bank (receiver), of St. Louis, $576,500; the West St. Louis Trust Company (receiver), $432,000. Two loans were authorized the Federal Land Bank of St. Louis, one for and one for $5,500,000. No part of the latter had been disbursed up to November 30. A loan was authorized the Tracy Creamery Company of Springfield, Mo., in the amount of $18,000 none of which was disbursed up to November 30. The Cape Girardeau Little River Drainage District was authorized loan of $2,188,914. Subscriptions for preferred stock included the Bank of Bonnots Mill, Mo., $10,000; the First National Bank of Sedalia, $25,000; the United Bank of Farmington, $60,000. No part of these sums had been disbursed up to November 30.