Under his leadership, the Union Trust Company of Cleveland built what was the second largest building at the time, now known as
The 925 Building in Cleveland. Additionally, Painter, made major investments in East Africa experimenting with the introduction of coffee and tea plantations in order to provide opportunities and economic growth for the area. During the depression, Painter lost the majority of his wealth, however, his bank continued to operate profitably. In 1933, during a bank holiday regulatory bank officials ordered the bank closed. This decision was widely considered to be politically motivated due to Kenyon's affiliation with Teddy Roosevelt, and the Republican Party. Supporting this is the fact that although the bank did not reopen, it was solvent and all depositors, investors and creditors were fully paid. However. Painter in an effort to boost the stock value of the Union Trust had taken out a three million dollar loan with which he purchased stock in Union Trust. After the bank was ordered shut down, he was unable to repay the loan and was convicted of
misfeasance and spent four months in prison before he was pardoned due to the circumstances by the governor,
Martin L. Davey, in October 1937 due to Painter's declining health. ==African businesses==