Union Trust Company - Washington, PA

Bank Information

Episode Type: Suspension → Reopening
Bank Type: trust company
Start Date: November 1, 1931*
Location: Washington, Pennsylvania (40.174, -80.247)

Metadata

Model: gpt-5-mini
Short Digest: d94f95c7

Response Measures

None

Description

Article (Nov 23, 1931) reports the Union Trust Company of Washington suspended business several weeks ago because of a loss/seepage in deposits. Depositors and directors are meeting to plan eventual reopening. No explicit independent run description or receivership mentioned; cause of suspension not specified beyond deposit outflows.

Events (3)

1. November 1, 1931* Suspension

Cause Details: Suspended due to seepage in deposits (heavy withdrawals/loss of deposits); article gives no explicit cause such as rumor or correspondent failure.
Newspaper Excerpt: The bank suspended business several weeks ago because of seepage in deposits.
Source: newspapers

2. November 23, 1931 Other

Newspaper Excerpt: Washington, Pa., Depositors And Directors Hope To ReOpen Closed Bank... began the first of series of conferences consider plan for eventualy reopening the bank ... during the coming week when details the plan for reopening the institution will [be decided].
Source: newspapers

3. November 23, 1931 Reopening

Newspaper Excerpt: Depositors and directors of the closed Union Trust Company of Washington today began the first of series of conferences to consider plan for eventualy reopening the bank.
Source: newspapers

Newspaper Articles (1)

1. November 23, 1931 New Castle News New Castle, PA

Article from New Castle News, November 23, 1931

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Article Text

Bank Depositors And Directors In Washington Confer Washington, Pa., Depositors And Directors Hope To ReOpen Closed Bank (International News Service) WASHINGTON Nov rectors and depositors of the closed Union Trust Company of Washington today began the first of series of conferences consider plan for eventualy reopening the bank depositors the bank were invited meet with the during the coming week when details the plan for reopening the institution will The bank suspended business several weeks ago because of seepage in deposits.