Union National Bank (Columbus, OH)

Episode Information

Episode UID
758401344
Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
national
Bank ID
75840 national
Charter Number
7584
Start Date
December 4, 1911
Location
Columbus, Ohio (39.961, -82.999)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0d390d8cb509de39

Response Measures

Full suspension, Books examined

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1911-12-07
Date receivership terminated
1915-03-25
OCC cause of failure
Losses
Share of assets assessed as good
38.8%
Share of assets assessed as doubtful
36.2%
Share of assets assessed as worthless
24.9%

Description

Directors posted suspension Dec 4 and Comptroller/receiver took charge within days; failure followed suspension.

Events (5)

1. January 30, 1905 Chartered
Source
historical_nic
2. December 4, 1911 Run
Cause
Rumor Or Misinformation
Cause Details
Prolonged unfavorable rumors depleted deposits and triggered heavy withdrawals leading directors to suspend.
Measures
Directors adopted a resolution to suspend payments; bank failed to open doors.
Newspaper Excerpt
Rumors, said to be unfavorable to its business standing, circulated for more than a year, so depleted the bank's deposits that the directors late yesterday adopted a resolution to suspend.
Source
newspapers
3. December 4, 1911 Suspension
Cause
Rumor Or Misinformation
Cause Details
Board resolution to suspend followed deposit depletion from circulating rumors and heavy withdrawals.
Newspaper Excerpt
The Union National bank today posted a notice of suspension by a resolution of the board of directors. It was further stated that the bank is now in the hands of the comptroller of the currency.
Source
newspapers
4. December 7, 1911 Receivership
Source
historical_nic
5. December 7, 1911 Receivership
Newspaper Excerpt
Appointed Bank Receiver. Richard W. Goodhart ... has been appointed receiver of the Union National Bank, of Columbus, Ohio.
Source
newspapers

Newspaper Articles (20)

Article from Evening Star, December 4, 1911

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Article Text

Ohio Bank Closes Its Doors. COLUMBUS, Ohio, December 4.-The Union National Bank today posted a notice of suspension by a resolution of the board of directors. It was further stated that the baik is now in the hands of the controller of the currency.


Article from Bismarck Daily Tribune, December 4, 1911

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Article Text

BANK SUSPENDS. (By Associated Press.) COLUMBUS, O., Dec. 4.-The Union National bank today posted a notice of suspension by resolution of the board of directors. It is further stated the bank is now in the hands of the comptroller of currency.


Article from The Hattiesburg News, December 4, 1911

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Article Text

(By Associated Press.) Columbus, Ohio, Dec. 4.-The Union National Bank suspended today by a resolution of the Board of Directors. The bank is now in the hands of the Comptroller of the Currency. It is not believed the suspension will atfeet the financial situation. The


Article from The Barre Daily Times, December 4, 1911

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Article Text

COLUMBUS BANK IN TROUBLE TO-DAY Union National Bank of the Ohio City Suspended To-day and Is Now in Hands of the Comptroller of the Currency. Columbus, O., Dec. 4.-The Union National bank of this city to-day posted a notice of suspension by the board of directors. It was further stated that the bank is now in the hands of the comptroller of the currency. It is not thought that the closing of the bank will have any effect on the local financial situation. The capital stock of the Union National bank is $750,000, and its surplus is $100,000. It is estimated that the deposits of the institution approach $2,000,000.


Article from Omaha Daily Bee, December 4, 1911

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Article Text

Columbus, 0., Bank Suspends Business COLUMBUS. O., Dec. 4.-The Union National bank today posted a notice of suspension by a resolution of the board of directors. It was further stated that the bank is now in the hands of the comptroller of the currency, As the action of the directors had been expected it is not thought the closing of the bank will have any effect on the local financial situation. The capital stock of the bank was $750,000, its surplus $100,000 and it is estimated that its deposits approximated $2,000.000. WASHINGTON Dec. 4.-The failure of the Columbus Union National bank involved a possible loss of about $860,000. according to reports to the comptroller of the currency. Assets to that extent covering the institution's capital, surplus and undivided profits appeared to be of questionable value


Article from El Paso Herald, December 4, 1911

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Article Text

COLUMBUS, OHIO. BANK SUSPENDS PAYMENTS Columbus, Ohio, Dec. 4.-The Union National bank today posted a notice of suspension by a resolution of the board of directors. It was further stated that the bank is ECW in the hands of the controler of the currency. The failure is said to involve a possible loss of $860,000.


Article from Evening Times-Republican, December 4, 1911

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Article Text

Ohio Bank Suspends. Columbus, Ohio, Dec. 4.-The Union National Bank today posted a notice of suspension, by a resolution of the board of directors. It was further stated that the bank is now in the hands of the comptroller of the currency.


Article from The Marion Daily Mirror, December 4, 1911

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Article Text

COLUMBUS BANK FAILS TO OPEN DOORS Columbus, O,, Dec. 4.-The Union National bank, of Columbus, failed to open its doors for business today. Rumors, said to be unfavorable to its business standing, circulated for more than a year, so depleted the bank's deposits that the directors late yesterday adopted a resolution to suspend. National Bank Examiner R. W. Goodhart has (been placed in charge of the bank and will liquidate it. The bank's last report on September 1, showed deposits of $2,374,099. and surplus and undivided profits of $109,209. Its capital was $750,000.


Article from Norwich Bulletin, December 5, 1911

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Article Text

The Union National Bank of Columbus, O., yesterday posted a notice of suspension by a resolution of the board of directors.


Article from The Wheeling Intelligencer, December 5, 1911

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Article Text

COLUMBUS BANK IS FORCED TO CLOSE DOORS Union National Bank Suspends: Possible Loss of $360,000 Threatened. COLUMBUS, O., Dec. t.-The Union National bank today posted a notice of suspension by a resolution of the board of directors. It was further stated that the bank is now in the hands of the comptroller of the currency.


Article from The Democratic Banner, December 5, 1911

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Article Text

CLOSES Doors Does Union National Bank Of Columbus Columbus, O., Dec. 4-The Union National bank, at High and Spring streets, capital stock $750,000, surplus $100,000 suspended business Monday morning, as a result of a resolution of its board or directors passed Sunday night. The bank is now in the hands of the United States comptroller of the currency.


Article from The Washington Herald, December 8, 1911

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Article Text

Appointed Bank Receiver. Richard W. Goodhart, national bank examiner and well known in banking circles throughout the country, has been appointed receiver of the Union National Bank, of Columbus, Ohio.


Article from The Commonwealth, December 8, 1911

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Article Text

Columbus Bank Suspends. Columbus, 0.-The Union National Bank Monday posted a notice of suspension by a resolution of the board of directors. The bank's capital stovck was $750,000, and its deposits approximated $2,000,000.


Article from The Diamond Drill, December 9, 1911

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Article Text

COLUMBUS, OHIO-The Union National bank posted a notice of suspension by a resolution of the board of directors. It was further stated that the bank is now in the hands of the comptroller of the currency. --


Article from Iron County Register, December 14, 1911

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Article Text

Ohio Bank Solvent, but Closes. Columbus, Ohio.-The State bank at Pleasantville has been forced to close .temporarily because of a run resulting from the failure of the Union National bank of Columbus. Bank Examiner Baxter declared the State bank solvent, and said it probably would reopen within a few days.


Article from Marble Hill Press, December 14, 1911

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Article Text

Ohio Bank Solvent, but Closes. Columbus, Ohio-The State bank at Pleasantville has been forced to close temporarily because of a run resulting from the failure of the Union National bank of Columbus. Bank Examiner Baxter declared the State bank solvent, and said it probably would reopen within a few days.


Article from The Greenville Journal, December 14, 1911

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Article Text

Bank is Closed by Rumors. The Union national bank of Columbus have decided to close its doors. Rumors unfavorable to its business standing, circulated for more than a year, so depleted the bank's deposits that the directors adopted a resolution to suspend. R. W. Goodhart, national bank examiner, has been placed in charge of the bank and will liquidate it. The bank's last report on Sept. 1 showed deposits of $2,374,099 and surplus and undivided profits of $109,209. Its capital was $750,000. The Union national bank figured in the suits brought by the state in 1909 to recover interest on state money deposited on private accounts by former state treasurers.


Article from Greene County Herald, December 15, 1911

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Article Text

Ohio Bank Solvent, but Closes. Columbus, Ohio.-The State bank at Pleasantville has been forced to close temporarily because of a run resulting from the failure of the Union National bank of Columbus. Bank Examiner Baxter declared the State bank solvent, and said it probably would reopen within a few days


Article from The Marion Daily Mirror, January 30, 1912

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Article Text

Depositors Get 60 Per Cent. Columbus, O., Jan. 30.-All depositors of the Union National bank, which failed December 4. will get a sixty per cent. dividend Friday, February 1, providing they have proof of their claims, according to official announcement made, by Robert W. Goodhardt, receiver.


Article from Fulton County Tribune, October 23, 1914

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Article Text

State Gets Bank Claim. Columbus. - The state of Ohio will receive $7,500 from the receivers of the Union National bank of Columbus in compromise of the claim of the state for interest of state funds illegally deposited in the bank by former state treasurers. The adjustment of the controversy was completed here. The sum is not all the state might have demanded, but as the bank was insolvent and being liquidated the state decided to adjust the claim, secure what it could and save the expense and delay of litigation that might have been long continued. With this payment there has been recovered by Attorney General Timothy S. Hogan over $93,000 interest claims for the benefit of the state treasury.