Ralph L. Williams to Charles W. Chesnutt, 3 November 1931
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THE UNION TRUST COMPANY1
J. R. NUTT, CHAIRMAN OF BOARD
GEORGE A. COULTON, VICE CHAIRMAN OF BOARD
J. R. KRAUS, VICE CHAIRMAN OF BOARD
W. M. BALDWIN, PRESIDENT
ALLARD SMITH, EXECUTIVE VICE PRESIDENT
CLEVELAND, OHIO2
November 2, 1931
Mr. Chas. W. Chesnutt
1646 Union Trust Building
Cleveland, Ohio
Dear Sir:
Will you please come in to see the writer as soon as possible in regard to your collateral loan.
Yours very truly, R. L. Williams R. L. Williams, Ass't. Vice President RLW:CMHCorrespondent: Ralph L. Williams (1892–1961) was a White banker whose career began at Cleveland's Citizens Savings & Trust Co. in 1908. After the bank's merger with Union Trust Company in 1920, he served as collateral loan officer, assistant treasurer, assistant vice president, and eventually vice president just before the bank failed in February 1933. He became one of the assistant conservators to oversee its dissolution.
1. The Union Trust Company was a Cleveland bank trust, by 1920 a large nationwide bank following several mergers. In 1924, Chesnutt's company began renting offices in the new Union Trust Building that housed the bank's headquarters. Many of Chesnutt's 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 Commercial Banking and Banks department letterhead is not transcribed in the body of the letter but is included in this footnote as unformatted text. 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: "COMMERCIAL BANKING AND BANKS R.S. CRAWFORD EXECUTIVE VICE PRESIDENT AND SECRETARY E.E. CRESWELL, VICE PRESIDENT GEORGE P. STEELE, VICE PRESIDENT C.B. ANDERSON, TREASURER T.J. CHAMPION, VICE PRESIDENT R.L. WILLIAMS, ASST. VICE PRESIDENT R.B. PETTIT, ASST. VICE PRESIDENT J.L. WADSWORTH, ASST. VICE PRESIDENT W.A. HARTFORD, ASST. TREASURER D.D. GRIGOR, ASST. TREASURER A.R. BOETHELT, ASST. TREASURER DAVE P. LEWIS, ASST. TREASURER C.E. FARNSWORTH EXECUTIVE VICE PRESIDENT H.E. HILLS, VICE PRESIDENT CHARLES B. GLEASON, VICE PRESIDENT C.W. CARLSON, VICE PRESIDENT E.N. WAGLEY, ASST. VICE PRESIDENT M.B. KOELLIKER, ASST. VICE PRESIDENT D.Y. LAFEVER, ASST. VICE PRESIDENT C.F. HEIL, ASST. VICE PRESIDENT, W.H. FREYTAG, ASST. VICE PRESIDENT HENRY LANGE, ASST. TREASURER W.R. IRWIN, ASST. TREASURER, GEORGE Q. HALL, ASST. TREASURER" [back]
