Harry L. Brown to Charles W. Chesnutt, 21 December 1921
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THE UNION TRUST COMPANY1
CLEVELAND, OHIO2
December 21st, 1921.
Mr. Chas. W. Chestnutt,
1106 Williamson Bldg.,
Cleveland, O.
Dear Sir:
We acknowledge receipt of your letter of recent date, with enclosures as stated, and in accordance with your instructions we return herewith certificates as listed below.
Will you kindly date, sign and return the acknowledgment attached hereto.
Yours very truly, H. L. BROWN, Assistant Vice PresidentKindly return counter-receipt given at this office.
Correspondent: Harry L. Brown (1884–1965) was with the Citizens Savings & Trust Co. until it merged in 1920 with Union Trust, where he served as assistant vice president in charge of the transfer and registration department, which kept track of the ownership and transfers in ownership of stock and bond certificates. Brown was employed by Union Trust until its collapse in 1933, and became one of the conservators who oversaw its dissolution.
1. The Union Trust Company was the third-largest Cleveland bank trust, by 1920 a large nationwide bank following several mergers. In 1924, Chesnutt's company began renting offices in the brand-new Union Trust Building that housed the bank's headquarters. Many of his investments were also with Union Trust. After the stock market collapse in 1929, he had to service a $18,500 loan for which the collateral had been stock market shares that were now worthless; the company also held the mortgage for his home at 9719 Lamont St. and for at least one rental property he owned (11900–02 Superior Ave.). Union Trust survived the early years of the Depression, but was not allowed to reopen after another collapse of the Cleveland banks in February 1933. [back]
2. For readability, the remainder of the Union Trust Company letterhead is not transcribed at the top of the letter but is included in this footnote as unformatted text. This portion of the letterhead can be seen in its entirety in the accompanying image of the letter. The text of the remainder of the letterhead is as follows: "John Sherwin Chairman of Board J.R. Nutt President J.H. Wade Chairman Trust Committee Executive Managers George A. Coulton Senior Vice President, Chairman J.R. Kraus Vice President W.M. Baldwin Vice President C.L. Bradley Vice President Corporate Trust Department Geo. N. Sherwin, Vice President W.J. O'Neill, Trust Officer W.H. Kinsey, Ass't Secretary Grover H. Hull, Ass't Trust Officer W.A. Gibson Ass't Secretary Transfer and Registration H.L. Brown, Ass't Vice President W.A. Porter, Ass't Secretary C.J. Fairbanks, Ass't Secretary Kindly address reply to Citizens Building 814 Euclid Ave." [back]
