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UNION TRUST COMPANY SUSPENDS BUSINESS BOSTON, Mass., March 31.-The Union Trust Company of this city, has closed its doors by order of the State Banking Department. It is a comparatively small institution, and was organized in 1899. The capital is $100,000, with deposits of about $1,500,000.
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ANOTHER ON BOSTON. Boston, March 31.-The Union Trust Co. closed its doors today. The Union Trust liabilities are $1, 600,000, the assets are about the same. Heavy withdrawals by. depositors and inability to realize on securities quickly caused the suspension.
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FAILURE AT BOSTON. The Union Trust Company Closes Its Doors-Heavy Liabilities. Postan, March 31-The Union Trust Company closed its doors today. The company was incorporated in 1888 with a capital of $100,000. The president is former Congressman William E. Barrett. The liabilities of the company are placed at $1.600,000 with nominal assets of about the same. The diff!culties of the concern are attributed to heavy withdrawals by depositors and inability of the management to realize quickly on securities in order to provide for unusual demands.
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CLOSES ITS DOORS. Union Trust Co., of Boston, Shuts Up Shop. Boston, March 31.-The Union Trust company closed its doors today. The Union Trust company was incorporated in 1888 with a capital of $100,000. The president is former Congressman William E. Barrett. Mr. Barrett also is a well known Boston publisher. Frederick B. Roberts is treasurer and the directors are William E. Barrett, Charles H. Adams, C. F. Donnolley, James W. Dumphy, G. Edward Smith and G. A. Stone. The liabilities of the company are placed at $1,600,000, with nominal assets of about the same amount. The difficulties of the concern are attributed to heavy withdrawals by depositors and the inability of the management to realize quickly on securities, in order to provide for the usual demands. At the office of the Savings bank it was stated that the company had been temporarily enjoined by the supreme court and that the application for a permanent injunction was returnable tomorrow, when the court will be asked to appoint a receiver. The directors of the company state that no opposition will be made to a receivership and that the company will go out of business. They state positively that depositors will lose nothing.
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BOSTON CONCERN GOES UNDER. Boston, March 31.-The Union Trust Company closed its doors to-day. The Union Trust Company was incorporated in 3888 with a capital of $100,000. The president is exRepresentative William E. Barrett, who is also a well known Boston publisher. Frederick B. Roberts is treasurer, and the directors are William E. Barrett, Charles H. Adams, C. E. Donnolles, James W. Dumphy, G. Edward Smith, Galen E. Stone, Edwin N. Curtis and Sherman L. Whipple. The liabilities of the company are placed at $1,600,000, with nominal assets of about the same amount. The difficulties of the concern are attributed to heavy withdrawals by depositors, and the inability of the management to realize quickly on securities, in order to provide for the unusual demands. At one time the deposits aggregated $1,819,591, but this amount had been materially decreased of late. At the office of the Savings Bank Commissioners It was stated that the company had been temporarily enjoined by the Supreme Court, and that the application for a permanent injunction was returnable to-morrow, when the court would be asked to appoint a receiver. The directors of the company say that no opposition will be made to a receivership, and that the company will go out of business. They say positively that the depositors will lose nothing.
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Union Trust of Boston Fails. Boston, March 31.-The Union Trust Company closed its doors to-day. The Union Trust Company was incorporated in 1888 with a capital of $100,000. The president is former Congressman William E. Barrett. Mr. Barrett is also a well known Boston publisher. Frederick B. Roberts is treasurer. The directors are William E. Barrett, Charles H. Adams, C. F. Donnelly, James W. Dumphy, G. Edward Smith and Galen E. Stone. The liabilities of the company are placed at $1.600.000, with nominal assets of about the same amount. The difficulties of the concern are attributed to heavy withdrawals by depositors and the inability of the management, to realize quickly on securities, in order to provide for the unusual demands. At the office of the savings bank commissioners it was stated that the company had been temporarily enjoined by the Supreme Court, and that the application for a permanent injunction was returnable to-morrow. The court will be asked to appoint a receiver. The directors state no opposition will be made to the receivership and the company will go out of business. They state positively that depositors will lose nothing.
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Boston Concern Closes Doors. Boston, March 31.-The Union Trust Boston, March 31-The Union Trust conpany has closed its doors. The company was incorporated in 1888 with a capital of $100,000. The president is former Congressman William E. Barrett. Mr. Barrett is also a well-known Boston publisher. Frederick B. Roberts is treasurer and the directors are William E. Barrett, Charles H. Adams, C. F. Donnolly, James W. Dumphy, G. Edward Smith and Galen E. Stone. The liabilities of the company are placed at $1,600,000, with nominal assets of about the same amount. The difficulties of the concern are attributed to heavy withdrawals of depositors and the inability of the management to realize quickly on securities in order to provide for the unusual demands. At the office of the savings bank it was stated the bank had been temporarily enjoined by the supreme court, and that the application for a permanent injunction was returnable tomorrow. The court will be asked to appoint a receiver. The directors of the company state that no opposition will be made to a receivership and that the company will go out of business. They state positively that depositors will lose nothing.
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UNION COMPANY FAILS. This Boston Institution Has Million and Half Liabilities. (By Associated Press.) BOSTON. MASS., March 31.-The Union Trust Company closed Its doors to-day. The Union Trust Company was Incorporated in 1888, with a capital of $100,000. The president is former Congressman William E. Barrett. The liabilities of the company are placed at $1,600,000. with nominal assets of about the same amount. The difficulties of the concern are attributed to heavy withdrawnls by depositors and the Inability of the management to realize quickly on securities in order to provide for the unusual demands. The directors of the company state that the company will go out of business. They state positively that depositors will lose nothing. The court will be asked to appoint a receiver.
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TRUST COMPANY CLOSES UP. Boston Concern Says It Will Pay Depositors. Boston, March 31. - The Union Trust Company closed its doors to-day. The Union Trust Company was incorporated in 1888, with a capital of $100,000. The president is former Congressman William E. Barrett. The liabilities of the company are placed at $1,600,000, with nominal assets of about the same amount. The difficulties of the concern are attributed to heavy withdrawals by depositors, and the inability of the management to realize quickly on securities in order to provide for the unusual demands. The directors of the company state that the company will go out of business. They state positively that depositors will lose nothing. The court will be asked to appoint a receiver.
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DEPOSITORS MAY GET PAID Two Trust Companies Have Turned Up Their Toes. ONE LOCATED IN CLEVELAND THE OTHER HAD BEEN DOING BUSINESS IN BOSTON. Boston, March 31.-The Union Trust company closed its doors today. The company was incorporated in 1888 with a capital of $100,000. The president is former Congressman William E. Barrett. Mr. Barrett also is a well known Boston publisher. Frederick B. Roberts is treasurer, and the directors are William E. Barrett, Charles H. Adams, C. F. Donnolley, James W. Dumphey, M. Edward Smith and G. A. Stone. The liabilities of the company are placed at $1,600,000, with nominal assets of about the same amount. The difficulties of the concern are attributed to heavy withdrawals by depositors and the inability of the management to realize quickly on securities in order to provide for its usual demands. At the office of the savings bank commissioners it was stated that the company had been temporarily enjoined by the supreme court, and that the application for a permanent injunction was returnable tomorrow, when the court will be asked to appoint a receiver. The directors of the company announce that no opposition will be made to a receivership and that the company will go out of business: They declare positively that depositors will lose nothing.
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UNION TRUST COMPA ANY FALLS Banking Concern Is Unable to Meet Its Obligations Owing to Big Withdrawals DIRECTORS CONFIDENT Declare Positively That the Depositors Will Not Lose Anything by the Failure BOSTON, March 31.-The Union Trust Company closed its doors to-day. The company was incorporated in 1888 with a capital of $100,000. The president is former Congressman William E. Barrett. Barrett also is a wellknown Boston publisher. Frederick B. Roberts is treasurer and the directors are William E. "Barrett, Charles H. Adams, C. F. Donnelly, James W. Dumphy, M. Edward Smith and G. A. Stone. The liabilities of the company are placed at $1,600,000, with nominal assets of about the same amount. The dimculties of the concern are attributed to heavy withdrawals by depositors and the inability of the management to realize quickly. on securities in order to provide for its usual demands. At the offices of the Savings Bank Commissioners it was stated that the company had been temporarily enjoined by the Supreme Court and that the application for a. permanent injunction was returnable to-morrow, when the court will be asked to appoint- a receiver. The directors of the company announce that no opposition will be made to a receivership and that the company will go out of business. They declare positively that depositors will lose nothing.
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Receivers Named. Boston, April 4.-Samuel W. McCall and Charles F. Choate, jr., today were appointed receivers for the Union Trust company, which closed its doors on Thursday last. The Trust company's liabilities are placed at $1,600,000.
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Receivers for Trust Co. Appointed. BOSTON, April 4.-Samuel W. McCall and Charles F. Choate, jr. today were appointed receivers for the Union Trust Company, which closed its doors on Thursday last. The trust company's liabilities are placed at $1,600,000.
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Receivers for Boston Bank. Boston. April 4.-Judge Barker of the supreme court. Monday, appointed Samuel W. McCall and Charles F. Choate, Jr., receivers for the Union Trust Co., which closed its doors, last Thursday. Bonds were placed at $50.000 each for the receivers. The Trust Co.'s liabilities are placed at $1,600,000.
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BOSTON, April 4.-Samuel W. McCall and Charles F. Chote Jr. were to-day appointed receivers for the Union Trust Company, which closed its doors on Thursday last. The trust company's liabilities are placed at $1,600,000.
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RECEIVERS APPOINTED. Boston, Mass., April 4.-Samuel W. McCall and Charles F. Choate, jr., today were appointed receivers for the Union Trust company, which closed its doors on Thursday last. The trust company's liabilities are placed at $1,600,000.
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RECEIVERS NAMED FOR BURST TRUST COMPANY. Boston, April 5.-Samuel W. McCall and James Choat, Jr., were today appointed receivers for the Union Trust Company, which closed its doors last Thursday. The company's liabilities are placed at $1,600,000.
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Assignment of Two Banks. Federal Trust Company of Cleveland, Ohio, assigned, fearing a run by its depositors because of rumors that a missing official is a heavy embezzler. Union Trust Comp ny of Boston also closed.
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Union Trust Co. Fails. Boston, April 6.-Samuel W. McCall and Charles F. Choate, Jr., are appointed receivers for the Union Trust company which has closed its doors. The trust company's liabilities are placed at $1,600,000.
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Assignment of Two Banks. Federal Trust Company of Cleveland, Ohio, assigned, fearing a run by its depositors because of rumors that a missing official is a heavy embezzler. Union Trust Company of Boston also closed.
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Union Trust Co. Fails. Boston, April 6.-Samuel W. McCall and Charles .F. Choate, Jr., are appointed receivers for the Union Trust company which has closed its doors. The trust company's liabilities are placed at $1,600,000.
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DISCUSS FINANCIAL CONDITION. Walter S. Keane Leather Co. at Boston in Trouble. Boston, June 3.-Walter S. Keane, president of the Walter S. Keane Leather Co., called a meeting of the creditors of his company here, today, for the purpose of discussing the financial condition of the concern. The creditors were given to understand that the liabilities will reach $200,000, with the amount of assets unknown. The meeting was adjourned until next week. The difficulties of the Keane Co. are said to be due to sus+ pension of the Union Trust Co. of this city, from which he had had a loan of considerable amount.
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BROKER ASSIGNS FOR $160,000. Boston, June 9.-Andrew Meyer, an investment broker, assigned to-day to William H. Barker, an attorney, with liabilities estimated at $160,000. The Union Trust Company, which failed March 31, holds a $10,000 mortgage on Meyer's property. which includes a hotel and other beach enterprises at Houghs Neck, Quincy. Mcyer is president of the United States Standard Scale Company.
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Trust Company's Dividend. BOSTON, August 2.-A dividend of 35 per cent to the depositors of the Union Trust Company of this city was authorized today by the supreme court, to be paid at once by the receivers. The trust company closed its doors March 31, with estimated liabilities of $1,300,000. The dividend is the first to be paid since the failure.