Marion Trust Company (Indianapolis, IN)

Episode Information

Episode Type
Suspension β†’ Closure
Start Date
March 17, 1883
Location
Indianapolis, Indiana (39.768, -86.158)
Bank Type
trust
Routing Number
20-0010
Alt. names
Fletcher Savings & Trust Company; Fletcher Trust Company

Metadata

Notes

Receiver appointed following discovery the concern was a swindle; assets minimal.

Events (1)

1. March 17, 1883 Receivership
Newspaper Excerpt
The receiver appointed to take charge of the Marion Trust Co., in this city, reports the concern has been in existence about a year...
Source
newspapers

Newspaper Articles (10)

Article from The Rock Island Argus, March 17, 1883

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Article Text

SWINDLING CONCERN, INDIANAPOLIS, March 17.--The receiver appointed to take charge of the Marion Trust Co., in thiscity, reports the concern has been in existence about a year, during which time nearly $200,000 has been taken in. and fifty thousand paid out. Victims to the swindle number about 5,000. Investigation show the assets consists of some office furniture.


Article from The Daily Cairo Bulletin, March 18, 1883

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An Enormous Swindle

INDIANAPOLIS, March 17.-A receiver was appointed to take charge on the Marion Trust Company, located in this city. That concern has been in existence about one year, during which time nearly $200,000 has been taken in and $50,000 paid out. The victims to the swindle number about five thousand. The average amount received for each was $50. There are no assets. The concern does business in Missouri, Illinois, and other states.


Article from The Salt Lake Herald, March 18, 1883

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AiBig Swindle, Indianapolis, 17.-The receiver appointed to take charge of the Marion Trust Company, located in this city, reports that the concern has been in existence about a year, during which time nearly $200,000 was taken in and $50,000 paid out. The victims to the swindle number about 500. The average amount received from each is $40. Investigation shows the assets consist of office furniture.


Article from Omaha Daily Bee, March 19, 1883

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A Swindling Concern

Special Dispatch to THE BER. INDIANAPOLIS, March 18 -A receiver has been appointed to take charge of the Marion Trust company, located in this city. The firm has been in existence about one year, during which time nearly $200,000 were taken in and $50,000 paid out. The victims of the swindle number about 5,000. The average amount received from each is $40. It is not likely the concern will pay anything.


Article from Omaha Daily Bee, March 19, 1883

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A Swindling Concern

Special Dispatch to THE BER. INDIANAPOLIS, March 18 -A receiver has been appointed to take charge of the Marion Trust company, located in this city. The firm has been in existence about one year, during which time nearly $200,000 were taken in and $50,000 paid out. The victims of the swindle number about 5,000. The average amount received from each is $40. It is not likely the concern will pay anything.


Article from The Indianapolis Journal, March 22, 1883

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You'll Have to Ask the Fool Killer. Lafayette Journal. The Marion Trust Company, of Indianapo lis, has gone into the hands of a receiver. The assets consist of one chair and ONE desk. This company found many dupes in Indianapolis, and did some wholesale swindling. How long will people continue to bite at these robbing schemes?


Article from Savannah Morning News, March 23, 1883

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The Marion Trust Company, located in Indianapolis, Ind., and doing business in Illinois, Kentucky, Ohio, Tennessee, Missouri, Mississippi and Alabama, has come to grief. During the year it has been in existence it took in nearly $200,000 and paid out about $50,000. The receiver says it is not likely the concern will pay anything. The manager is interested in a similar institution in Chicago known as the Union Benefit Association.


Article from The Panola Weekly Star, March 24, 1883

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LATER

Tm river was getting within its banks below Memphis, Tenn., on the 18th, and measures were being taken to secure the best possible manitary conditions when the water runs off. TOE late Judge Taylor, of Newburg, N. Y., did a heavy business in investing for clients and his accounts the other day showed a deficit estimated at $250,000, caused by depreciation of real estate. SAMUEL RUTH, defaulting cashier of the Washington (Pa.) Savings Bank, has been found guilty of larceny. THOMAS HODGSON, a heavy produce desler, is charged with obtaining large ad. vances from the Bank of Montreal, Cana., under false pretenses. AT an Italian christening in New York City recently Frank Alberto had his head nearly cut off with a razer and two other guests were desperately stabbed. AT Bloomington, Ind., an alleged incendiary fire occurred the other day and four men and a boy were crushed by a failing wall. A WOMAN and child were fatally burned at Venice, O., recently by fife which caught in a kettle of boiling tar. At Bridge. port, Cons., a woman was burned to death while at prayers. A MAN named A. S. Hill went to Salt Lake, Utah some time ago and married a widow, The other day the officers were looking for him and $10,000 of his wife's money. THE Marion Trust Company of Indianapolis, Ind was placed in the hands of Receiver recently, its affairs having resulted disastrously to about 5,000 victims. Ir is said the projected works for the improvement of the Delaware breakwater will require five years for completion. THE Canadian Government last year operated 1,007 miles of railroad it is said at a net loss of $73,488. A DALLAR, (Tex.) physician, who was fined for whipping the Postmaster, re. fused to pay a few days ago and was sent to the rock pile to work out his fine with the gang. PATRICK McKINLEY, a Baltimore & Ohio conductor. was billed near Salemville, 0., recently, by being struck by a mail. catcher while leasing from a ear. Mona than 85,000 was found in the lodgings of a wretched old woman who died the other day after having sold newspapers for half , century In New York. Dr. FORDER, of the Jefferson Medical College, Philadelphis, Pa., has been se. quitted of the charge of complicity with bolly onstchers. Tun Portland, Saco s Portemonth Depot, meat Ellet. Me., was burned re easily. The Post-offee building and con. siderable mail was destroyed.


Article from The Milan Exchange, March 24, 1883

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The MΓ‘rion Trust company, of Indianapolis, Ind., is in the hands of a receiver. The company had some policy holders in this state, who will, of course, lose what they paid into the concern.


Article from The Middlebury Register and Addison County Journal, March 30, 1883

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South and West.

GEORGE JONES, of Oglethorpe county, Ga., shot and killed his wife whom he had married when she was only eleven years old, and who had refused to live with him after he had assaulted her mother.

A ST. PAUL (Minn.) dispatch says it is reported on trustworthy information that the government has decided to release Sitting Bull and his braves, 140 in number, from military custody. They will be taken on May 1 from Fort Randall, where they have been since they were removed from Fort Yates, a year ago, and placed upon the reservation at the Standing Rock agency.

A NEW ORLEANS theatre, just before the close of the performance, was the scene of a panic resulting from an alarm of fire. The large audience made a rush for the roof, and after quiet was restored it was found that two men, two women and three children had been severely hurt.

THE receiver of the Marion Trust company, of Indianapolis, Ind., reports that in one year nearly $200,000 has been taken in and $50,000 paid out by the concern. The victims of the swindle number about 5,000, and the average amount received from each was $40.