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Show TWO TRUST FIRMS IN FINANCIAL STRESS Union of Boston and Federal of Cleveland in the Hands of Assignees. 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. Bar-rett. Mr. Barrett also Is a well-known Boston publisher. Frederick B. Roberta la treasurer and the directors are William Wil-liam 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 ?l,C00,0OO. with nominal assets as-sets of about the same amount. The difllcultlea of the concern are attributed at-tributed to heavy withdrawals by depositors de-positors and the Inability of the managements man-agements realize quickly on securities In order to provide for Its usual demands. de-mands. CLEVELAND, 0., March 31. The Federal Trust company today made an assignment to the Guardian Trust company. com-pany. The action Is stated to have been taken as a result of the disappearance of a prominent official of the Federal Trust company. Reports aro In circulation circu-lation that a shortage has been found In tho funds of the concern. While no statement has yet been filed by the Federal company it la understood it will turn over about 51,000.000 In deposits de-posits to the assignee. Its total assets will be about 53,000,000. The Federal Trust company has a capital stock of 51,500,000, It has a surplus fund of $50,-000, $50,-000, and about 5140.000 undivldod profits. |