Marion Trust Company (Indianapolis, IN)

Episode Information

Episode UID
20001070999
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
2000107 routing
Routing Number
20-0010
Start Date
March 17, 1883
Location
Indianapolis, Indiana (39.768, -86.158)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0ddcb8ef6745b210

Response Measures

None

Description

Receiver appointed March 17, 1883 after the concern was exposed as a swindle; permanent closure implied.

Events (1)
1. March 17, 1883 Receivership
Newspaper Excerpt
The receiver appointed to take charge of the Marion Trust Company of this city reports that the concern has been in existence about one year...
Source
newspapers

Newspaper Articles (10)
1. March 18, 1883 New-York Tribune New York, NY
Article from New-York Tribune, March 18, 1883

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Article Text

VICTIMS OF 4 SWINDLING COMPANY. INDIANAPOLIS, Ind., March 17.-The receiver of the Marion Trust Company reports that 111 one year nearly $200,000 has been taken in and $50,000 paid out. The victims of the 81 Indle number about 5,000, and the average amount received from each was $40. The investigation thus far shows that the assets consist of office furniture and a cord or more of circulars. The liabilities cannot at present be ascertained, but the company is not likely to pay anything. Mr. Collier, the manager, has been absent in Chicago since the receiver was appointed, where he is interested in a similar instirution, known as the Union Benefit Association The Indiana concern has been doing business in Illinois, Ohio, Kentucky, Tennessee, Mississippi, Missouri and Alabama.

2. March 18, 1883 The Daily Cairo Bulletin Cairo, IL
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.

3. March 18, 1883 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
Article from Memphis Daily Appeal, March 18, 1883

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HE TOOK THEM IN. How Young Mr. Sayler Worked the Marriage Association Game in Eaton, 0. -The Old Story. Murder and Suicide About a WomanCarolina Duelists-The Marion Trust Company Swindle. INDIANAPOLIS, March 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 one year, during which time nearly $200,000 have been taken in and $50,000 paid out. The victims to the swindle number nearly 5000. The average amount received from each is $40. The investigation thus far shows the assets to consist of some office furniture and a cord or more of circulars. The liabilities cannot be ascertained at present, but it is not likely the concern will pay anything. A. R. Collier, manager, has been absent in Chicago since the receiver was ap= pointed, where he is interested in a similar institution, as a Union Benefit Association. The Indiana concern has been doing businees in Illinois, Ohio, Kentucky, Tennessee, Mississippi, Missouri and Alabama.

4. March 18, 1883 The Sun New York, NY
Article from The Sun, March 18, 1883

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Article Text

A Swindling Trust Company. INDIANAPOLIS. Ind., March 17.-The receiver appointed to take charge of the Marion Trust Company of this city reports that the concern has been in exist. once about one year. during which time nearly $200,000 have been taken in and $50,000 paid out. The victims of the swindle number about 5,000, and the average amount received from each was $40. The assets consist of some office furniture and a cord or more of circulars. The liabilities cannot at present be ascertained, but the concern is not likely to pay anything Mr. Collier, the manager. has been in Chicago since the receiver was appointed, where he is interested in a similar institution, known as the Union Benefit Association. The Indiana concern has been doing business in Illinois, Ohio, Kentucky, Tennessee, Mississippi, Missouri. and Alabama.

5. March 19, 1883 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, March 19, 1883

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ARREST OF W. H. COLLIER, His Alleged Connection with the Affairs of the Marion Trust Company. William H. Collier, secretary of the Marion Trust Company, was arrested Saturday night at the instance of Judge Heller, counsel for Charies E. Shaw, on a no exeat writ, to prevent his departure from the city. It is stated, on apparently unimpeachable authority, that the elder Collier left the city to avoid arrest for the illegal appropriation of funds belonging to the certificate holders. The son was left in charge and the address of mail instructed to be so changed that all communications and remittances would be delivered at the residence. The son then for. warded all receipte, which, it is thought, amounted to at least $100 daily, to his father's address. The latter has been carefully kept secret, and when young Collier was arrested he told those left in charge of the house to send no dispatches or other communication to his father. in order, doubtless, to prevent the revelation of his whereabouts. Yesterday the household effects and a buggy were added to the assets of the defunct concern, now in the hands of the receiver, the additional property amounting to about $600. AN INTERVIEW WITH YOUNG COLLIER. The junior Collier was visited in jail last night by a Journal reporter. When called up by the jailer he appeared at his cell door arrayed in a close-fitting, bull-frightening suit, and his greeting was: "And you are the Journal reporter, I believe?" An affirmative reply being given, he assumed the interrogative of the interview by asking: "Have you come down here with more stories about me? You ought not to have come out to the honse at night and expect me to come to the door." "You were surely not afraid to come to the door?" asked the daring man of dark hours. "Well, I don't come to the door at night for anyone." "Why?" "Well, I have good reasons. An effort was made to turn the interview upon matters relating to the Marion Trust Company, to Alexander Collier, the large liabilities and the small assetts, etc., etc., etc., but all inquiries were answered with a prompt "No. no, no." showing that the young man. like a dutiful and obedient son, was very ignorant of his good father's affairs. "And I suppose you know nothing whatever as to your father's whereabouts, or even when he disappeared from the city?" "Well, if I do, I don't have to tell."

6. March 23, 1883 The Middlebury Register and Addison County Journal Middlebury, VT
Article from The Middlebury Register and Addison County Journal, March 23, 1883

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CLARENCE HITE, sentenced to twenty-five years' imprisonment as one of the James gang of bandits, and pardoned by the governor of Missouri, died of consumption a few weeks after his release. THE marriage of Judge David Davis. of Illinois, late acting Vice-President of the United States, was solemnized at Fayetteville, N. C. On account of the bridegroom's exalted position, and the fact that he had tried to keep his approaching nuptials a secret, his marriage assered much interest The bride is a native of Massachusetts, but her home since early youth has been in the South. She became acquainted with Judge Davis while visiting at Bloomington, Ill., fifteen years ago, when she was a young lady of twenty-five, and was a warm friend of the judge's first wife. Judge Davis is sixty-eight years old. After the marriage the happy couple left on an extended wed. ding trip, and will go as far as California, re. turning to Judge Davis' home at Bloomington in June. LATER reports state that the flood along the Mississippi has subsided. A COMPRESS with 800 bales of cotton was destroyed by fire at Texarkana, Texas, resulting in a loss of $100,000. THE mining town of Forest City, Cal., has been almost totally destroyed by fire. One man lost his life, and the pecuniary loss amounts to several hundred thousand dollars. 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 t'ing 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 com. pany, of Indianapolis, Ind.. report 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.

7. March 24, 1883 The Panola Weekly Star Sardis, MS
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.

8. March 30, 1883 The Middlebury Register and Addison County Journal Middlebury, VT
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.

9. April 24, 1883 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, April 24, 1883

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The G. A. R. Campfire. Following is the programme of the G. A. R. campfire entertainment to be held to-night: Music Insurance Qnartet Zither Music Misses Gehring and Steinheuser. Address Colonel Eli Lilly Music Insurance Quartet Recitation Mrs. M. W. Walker Zither Music Misses Gehring and Steinheuser. Jee Waters Speech Read by Captain George W. Johnson. Another of Mr. Collier's Victims. Judge Heller, receiver of the Marion Trust Company, has received a letter addressed to the company from Mrs. J. A. Osborn, of Gleason, Tenn., W ho wants information regarding a certificate she holds. She saye that she has paid to the company all the money she has, and makes a pathetic appeal for the return of at least a portion of it. saying she is "an old widow lady" and has no means of support.

10. November 24, 1898 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, November 24, 1898

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THE K. OFP. CASTLE HALL GRAND LODGE APPLIES FOR A RECEIVER IN THE SUPERIOR COURT. Marion Trust Company Appointed by Judge Carter-News of the State and Federal Courts. In Room 3, Superior Court, yesterday morning, the Marion Trust Company was appointed receiver of the Castle Hall Assoclation. The appointment was made on the application of the Grand Lodge of Knights of Pythias of Indiana, which was represented by Attorney Sims, of Lafayette. There was no protest against the receivership, and, in fact, the appointment of a receiver was the result of an agreement reached two weeks ago between representatives of the Grand Lodge and the board of directors of the Castle Hall Association. Austin F. Denny, representing the association, was present yesterday when the receivership was created and consented to the proceedings. It is understood that the real purpose of yesterday's proceedings is to wind up the affairs of the Castle Hall Association, which was organized several years ago with a view to erecting a fine building at Pennsylvania street and Massachusetts avenue. The immediate cause of the proceedings taken yesterday is due to dissension that arose among the stockholders of the Castle Hall Association. The Grand Lodge owned more than one-third of the capital stock of the association, and it is claimed it was the desire of the lodge to obtain control of the business affairs of the association. For the last six years there had been a constant struggle between a part of the Grand Lodge and the Castle Hall Association growing out of the effort on the part of the former organization to increase its influence and voting power in the association. Important concessions were made by the association, it is averred, in order to satisfy the demands of the Grand Lodge and the proportionate representation of the Grand Lodge in the directory of the Castle Hall Association was largely increased. It is claimed that after this was done the Grand Lodge took steps that indicated it would not be satisfied with less than the entire control of the affairs of the association. In May, 1898, the directors of the association arranged to open bids for the construction of Castle Hall, but the Grand Lodge brought an action to prevent this, charging mismanagement on the part of the association's board of directors. It was claimed by the Grand Lodge that the building which it was sought to erect would be insufficient to the need of the order of Knights of Pythias in Indiana. The Grand Lodge asked that the association be enjoined from going on with the building, and suggested that a receiver be named to wind up the association's business. A change of venue was taken to Hancock county, where the case was tried, but no decision was given, it being represented to the court that a compromise would probably be reached. At a meeting of the directors of the Castle Hall Association, held a week ago, the proposition of the Grand Lodge to buy the Castle Hall assets and take charge of its business was accepted. The Grand Lodge offered to pay over to the association $62,340, and the $27,600 of stock held by it in the association was to be surrendered and canceled. This arrangement has been carried out. The Grand Lodge is to pay into the hands of the receiver at once an amount of money sufficient to pay all stockholders in the Castle Hall Association and to all subscribers of partly paid stock the par value of their payments. The Grand Lodge will also settle the expenses of the litigation. The Grand Lodge has arranged with the Marion Trust Company for a loan of $30,000 with which to begin paying off the Castle Hall stockholders. Frank Daugherty, secretary of the association, will be retained and will assist the receiver in settling up the affairs of the association.