Fletcher Savings & Trust Company (Indianapolis, IN)

Episode Information

Episode UID
20001071566
Episode Type
Run → Suspension → Closure
Bank Type
trust
Bank ID
2000107 routing
Routing Number
20-0010
Start Date
June 1, 1930*
Location
Indianapolis, Indiana (39.768, -86.158)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
8349145fd8b21364

Response Measures

None

Description

Court testimony describes closing and recommendation to appoint a receiver; assets exceed liabilities on book value.

Events (3)
1. June 1, 1930* Other
Newspaper Excerpt
Good testified he examined the bank's books in June, and found them in the same condition as at the time of closing.
Source
newspapers
2. November 13, 1930 Run
Cause
Macro News
Cause Details
Heavy withdrawals by depositors during the business depression depleted cash and forced closing
Measures
None described beyond closing and recommendation to appoint receiver
Newspaper Excerpt
Lack of ready cash to pay operating expenses, due to heavy withdrawals, led to the closing
Source
newspapers
3. November 13, 1930 Suspension
Cause
Government Action
Cause Details
Institution was closed and court proceedings recommended appointment of a receiver following heavy withdrawals
Newspaper Excerpt
the institution was not insolvent when it was closed... Miller urged the court to employ a receiver
Source
newspapers

Newspaper Articles (2)
1. June 27, 1908 The Lake County Times Hammond, IN
Article from The Lake County Times, June 27, 1908

Click image to open full size in new tab

Article Text

# Higher Court's Record. SUPREME COURT MINUTES. 2130. William F. Leimgruber, admin- strator, vs. William F. Leimgruber. De- catur C. C. Appellee's answer to as- signment of error and appellee's brief. 2181. Marion Trust company, receiver,

2. November 13, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, November 13, 1930

Click image to open full size in new tab

Article Text

Statement Is Bolstered This statement was bolstered by assertions of witnesses that the institution was not insolvent when it was closed. Lack of ready cash to pay operating expenses, due to heavy withdrawals, led to the closing, according to testimony. Names of William P. Flynn, chief examiner of the Indianapolis Clearing House Association. and Evans Woolen, president of the Fletcher Savings and Trust Company, were suggested to Chamberlin as probable members of the appraisal committee. Dick Miller. president of the trust company, and Dwight A. Murphy, secretary, testified assets could be liquidated in such a manner as to pay depositors in full. State Bank Examiner Testifies Miller urged the court to employ a receiver on a monthly salary basis, and to instruct the receiver to employ an attorney only when necessary. Samuel P. Good, state bank examiner in charge of the examination of the trust company's books, testified assets were $2,400,904, and liabilities $2,055,330. The difference of $345,573, based on book value of assets, is subject to depreciation, he said. Good declared business depression was responsible for the depreciation of values in bonds, stocks and mortgage assets. Good testified he examined the bank's books in June, and found them in the same condition as at the time of closing. He agreed the assets can be liquidate to pay depositors in full.