Washington Bank & Trust Company (Indianapolis, IN)

Episode Information

Episode Type
Run → Suspension → Closure
Start Date
October 27, 1930
Location
Indianapolis, Indiana (39.768, -86.158)
Bank Type
trust
Routing Number
20-0063
Alt. names
West Side Trust Company

Metadata

Episode ID
Bank ID
City ID
180452890
Model
gpt-5-mini
Short Digest

Events (3)
1. October 27, 1930 Run
Cause
Local Banks
Cause Details
Heavy withdrawals (run) following recent downtown bank failures/closures in Indianapolis earlier that week, producing depositor panic.
Measures
Directors voted to place the bank in hands of state banking department and to go into voluntary liquidation to protect depositors.
Newspaper Excerpt
heavy withdrawal of deposits Monday, Oct. 27, 1930 ... heavy withdraws Monday caused the closing
Source
newspapers
2. October 28, 1930 Suspension
Cause
Voluntary Liquidation
Cause Details
Directors voluntarily decided to call on the state banking department and place the bank in liquidation after the heavy run.
Newspaper Excerpt
closed the institution today and placed its affairs in the hands of the state banking department
Source
newspapers
3. November 6, 1930 Receivership
Newspaper Excerpt
Suits by the state banking department for appointment of receivers for the Washington Bank and Trust Company ... were filed Wednesday in Marion circuit court.
Source
newspapers

Newspaper Articles (23)
1. October 28, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, October 28, 1930

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CLOSE WASHINGTON BANK TO STOP DEPOSITOR LOSS Officials Call for State Liquidation After Heavy Run Monday Perils Institution. For the announced purpose of the institution's doors this morning saving its depositors and stockholdand voluntarily placed its affairs in ers from loss, directors of the Washthe hands of Luther F. Symons, state bank commissioner. ington Bank and Trust Company, 255 West Washington street, closed Heavy withdraws Monday caused the closing, J. Edward Morris, president, declared in a statement, saying: insville "At the close of business Monday, Oct. 27, 1930, the directors of the Washington Bank and Trust Company canvassed the situation occasioned by the heavy withdrawal of City Men deposits during the day, and after careful consideration of the interests of the depositors, voluntarily decided to call upon the state banking department to take charge of the property and affairs of the bank." 7th 1929 Directors in Special Session The resolution adopted unanimously by directors in special meeting Monday night declared: "Resolved by the board of directors of the Washington Bank for Cost and Trust Company that owing to the heavy and unusual withdrawals of deposits Monday, Oct. 27, 1930, it is decided expedient that the Washington Bank and Trust Company in order to save its depositors and stockholders from loss, should Rishard go into voluntary liquidation, and that the state bank department be asked to take charge of property Jacob Van, Morgan county farmers and affairs of the company to effect arrested with the Indianapolis men, such liquidation, effective at the were released without paying fines close of business Monday evening, and costs. Oct. 27, 1930." Diligent search of the Morgan Thomas D. Barr, assistant state county court records show no entry bank commissioner, took personal of a trial or hearing for those who charge of the institution this paid the fines and costs. morning. It is pointed out by Morgan Assets Near Eight Million county residents that this affair is on a par with what occurred three Capitalized at $200,000, the Washweeks ago when the Checkerboard ington Bank and Trust Company lunch stand on the Bloomington on its last report to the state, road burned. showed assets of $7.970.977,25, loans More than one hundred bottles of of approximately $1,500,000, deposits beer and liquor were guarded by the of approximately $2,290,000 and a police while the firemen battled the surplus and undivided profits of blaze. $88,824.59. No attempt was made by the sherState deposits of $200,000 were in iff to seize the beer or liquor while the bank, Frank Richards, deputy the owner of the place, whose idenstate treasurer disclosed today. Of tity was unknown, sought to sell the this amount $150,000 is bonded. Officers, besides Morris, are Clifintoxicants to passers-by. ton N. Fields, vice-president; FranThe affair was reported to the prosecutor, W. G. Bray, who laughed cis W. Payne, vice-president and trust officer: William T. Pearcy, about it. Comment and criticism secretary; Calvin J. Clymer, assistbecame so strong that the next day ant secretary; Petrache Velesscu, Bray issued a warrant, but the assistant secretary-treasurer. owner had fled.

2. October 28, 1930 Muncie Evening Press Muncie, IN
Article from Muncie Evening Press, October 28, 1930

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BANK FAILS INDIANAPOLIS Heavy Run Closes Third Oct. of the Washington Bank and Trust Company closed the institution today and placed its affairs the hands of the state banking partment. Heavy withdrawals yesterday caused the closing, was announced this morning by Luther Symons, banking The institution was capitalized and had surplus of Barr Assumes Charge. Thomas Barr, assistant state banking took personal charge of the institution. of the bank are Edward Morris, president; Clifton Fields, Francis Payne, Pearcy, secretary; Calvin Clymer, assistsecretary. The bank was the third in Indianapolis to be closed in the past week. Others City Trust Company and the State Savings and Trust Company.

3. October 28, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, October 28, 1930

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CLOSE WASHINGTON BANK TO STOP DEPOSITOR LOSS Officials Call for State Liquidation After Heavy Run Monday Perils Institution. For the announced purpose of depositors and from the Washand Trust Company, West Washington street, closed the institution's doors this morning voluntarily placed its affairs the hands Luther Symons, state bank Heavy withdraws caused the Morris president, declared in statement, say- the close of business Monday, 1930, the the Washington Company the occasioned by the deposits during the day, and after careful the interthe depositors, decided call the state bankdepartment property and affairs of the Directors in Special Session The resolution adopted unanimously directors special meeting Monday night declared: "Resolved by the board rectors Washington Bank and Trust Company that owing to the heavy and unusual deposits Monday, 27, 1930, expedient that the Washington and Trust Company in order to its depositors from should voluntary and state department be asked charge of and affairs effect liquidation, effective the close of business Monday evening, Oct. 1930." Thomas D. Barr, assistant state bank personal charge of the institution this morning. Assets Near Eight Million Capitalized $200,000, the Washington Bank Trust Company report state, showed assets approximately $1,500,000, deposits approximately $2,290,000 and surplus and undivided profits State deposits of were the bank, Frank Richards, deputy state today. this amount $150,000 bonded. Morris, Clifton Fields, FranPayne, and trust officer: William Pearcy, Calvin assistPetrache Velesscu,

4. October 29, 1930 The Spokesman-Review Spokane, WA
Article from The Spokesman-Review, October 29, 1930

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HEAVY RUNS CLOSE BANK $7,970,977 Institution Third to Fall Town Washington Bank and Trust pany of Indianapolis its doors Failure this tution other banks last week. They were the company and the Postal Station State Luther state bankin the last few responsible for the closing the Washington bank. Symons said the was According its report, it had assets of $7,970,977.

5. October 30, 1930 Franklin Democrat Franklin, IN
Article from Franklin Democrat, October 30, 1930

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Washington Fails To "Run" Heavy run Monday, which depleted cash was given as the reason for closing the Washington Bank and Trust Company at Indianapolis by Luther Symons, state banking commissioner. The bank failed to open its doors Tuesday, directors having voted to put the institution in the hands of the banking department, according to Symons. Thomas D. Barr, assistant state banking commissioner, took personal charge. The institution was capitalised at $200,000 and had surplus $88,824.59 at the last bank call. Report at that time showed the bank in fair condition, Symons said, but could not withstand the Monday run. City Trust Company closed by vote of directors last week. The Washington bank is the fourth downtown financial institution to close, others being the Wild bank and the State Savings and Trust Company. Officers the Washington bank Edward Morris, president: Clifton Fields, Francis W. Payne, and trust officer; William Pearcy, secretary; Calvin assistant secretary; Petrache assist- Mrs. W. H. Schlosser attended meeting and luncheon of the Gen. Lew Wallace chapter of the Daughters of the Union at Terre Haute, Thursday. In the evening she was the guest of honor at dinner the home of Mrs. George Shannon, regent of the Terre Haute D. of U. entertaining the board members of the chapter. Mrs. Schlosser is Indiana state regent of Daughters of the Union.

6. November 6, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, November 6, 1930

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BANK RECEIVERS ASKED State Files Action Against City Trust, Washington Institution. Suits by the state banking department for apponitment of receivers for the Washington Bank and Trust Company and the City Trust Company, both closed recently, were filed Wednesday in Marion circuit court. Hearing on the City Trust Company petition will be held on next Wednesday and on the Washington Bank and Trust Company petition two days later.

7. November 6, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, November 6, 1930

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State Files Action Against City Trust, Washington Institution. Suits by the state banking department for apponitment of receivers for the Washington Bank and Trust Company and the City Trust Company. both closed recently. were filed Wednesday in Marion circuit court. Hearing on the City Trust Company petition will be held on next Wednesday and on the Washington Bank and Trust Company petition two days later.

8. November 10, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, November 10, 1930

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Some Light on City's Closed Bank Tangles Events which preceded today's court action in the receivership battle involving the City Trust Company, Washington Bank and Trust Company, the state banking commissioner, attorney-general and county courts were: Oct. 23-City Trust Company closes its doors, its directors blaming frozen assets, placing company's affairs in hands of state banking department. Oct. 28-Washington Bank and Trust Company closed by its directors after heavy run Oct. 27; state banking department takes charge. Nov. 5-Attorney-General James M. Ogden, through his chief deputy, Charles Werner, files suits in Marion circuit court (Harry O. Chamberlin, judge) asking appointment of receivers for both the City Trust Company and Washington Bank and Trust Company. Nov. 6.-Luthe F. Symons. state banking ocmmissioner, without Judge Chamberlin's approval, withdraws the suits from circuit court. paying costs by personal check, and refiles them, designating City Trust Company receivership suit for probate court (Mahlon E. Bash, judge) and Washington Bank and Trust Company suit for superior court five (Joseph M. Milner, judge). Nov. 7-Attorney-General Ogden and Circuit Judge Chamberlin declare attempted transfer was without their approval. Symons refuses explanation of action. Thomas D. Barr, deputy banking commissioner, denies he is interested in being appointed receiver for either institution. Nov. 8-Symons asserts that Jess Murden, Peru. state highway commisisoner, talked to him about transferring the suits from circuit court. Reported that Murden's interest was inspired by Arthur B. Ayres, Newcastle capitalist and heavy donor to Republican state campaign funds, who, with George Marott, Indianapolis merchants, owns City Trust building, where City Trust Company pays $25,000 annual rent. Murden denies Symons assertion and disclaims acquaintance with Ayres. Ayres denies having asked Murden or Governor Harry G. Leslie to act. Report persists that Governor advised Symons by telephone to make the transfer if it could be done without embarrassment. Symons issues statement upholding his right to choose the courts, defends his action as intended for best interests of depositors. Attorney-general admits Symons' charges that he (Ogden) filed the suits in circuit court despite the fact Symons intended them for superior and probate courts. Ogden explains he did this because Judges Milner and Bash leave office Jan. 1, 1931, and probate court lacks jurisdiction. Ralph Kane. attorney. announces his firm is entering appearance for City Trust Company in circuit court and in superior court five. Although suits. when refiled by Symons. bore penciled notation sending City Trust action to probate court and Washington Bank and Trust Company suit to superior court five, they now are found to be on file in just the opposite position, City Trust in superior court five and Washington Bank and Trust in probate court. Ogden's chief deputy filed motion in circuit court to dismiss Symons' motion for dismissal (filed when the transfer was sought).

9. November 14, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, November 14, 1930

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JUDGE TO RULE ON BANK DEPOSITOR RECEIVER SUIT circuit court of the bank commisQuestion of a depositor's rights sioners' suit. in asking appointment of a receiver Loeb's attorneys hold that the for a bank, involving constitutionrights of depositors to bring suit ality of an amendment to a statute against corporations was not taken away by a 1929 amendment to a 1907 regulating examination of banks statute pertaining to actions against and powers of the state bank ex-, corporations. aminer, will be decided today by In addition to petitioning for apSuperior Judge James M. Leathers. pointment of a receiver for the trust Leathers will rule on a petition company, closed Oct. 23, Leeb asks of Iva P. Leeb, a depositor in the $125 judgment, to cover a deposit he Washington Bank and Trust Commade the day before the bank closed. pany, asking appointment of a receiver. Arguments on a petition of AttorLuther P. Symon state bank exney-General James M. Ogden for aminer, has a similar petition on appointment of a receiver to liquifile in the Marion circuit court, date assets of Washington Bank and which Symon holds takes preceTrust Company, were to be heard dence over a depositor's suit. by Circuit Judge Harry O. ChamAttorneys representing Leeb and berlin at 2 today. the state department argued before The suit caused an official rupture Leathers Thursday, and the court between Ogden and Luther F. Syindicated a ruling will be made bemons, state bank examiner. fore the Friday afternoon hearing in

10. June 17, 1932 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, June 17, 1932

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# PREPARES BANK RULING Probate Judge Chambers Hears Washington Trust Co. Claims. Probate Judge Smiley N. Chambers announced today he would rule soon on the defunct Washington Bank and Trust Company's claims for $40,000 and interest against four subsidiary companies. A hearing on the claims, sought by Brandt C. Downey, receiver for the bank, was held in probate court Thursday. The subisdiary companies, alleged to have $10,000 each in the bank, are: The Capitol City Realty Company, the Hanover Realty Company, the Mortgage and Securities Company and No. 2 Mortgage and Securities Company.

11. September 9, 1932 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, September 9, 1932

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# BANK RECEIVER'S BOOST FOR # WATSON ASSAILED BY JUDGE Use of the Washington Bank and Trust Company receivership, by Brandt C. Downey, receiver, apparently as a political wedge, to "sell" Senator James E. Watson to 8,000 depositors, today drew criticism from Circuit Judge Harry O. Chamberlin in whose court the receivership is being adjudicated. Designed, according to Downey, to get depositors' support for location of the federal home loan bank in the vacant Washington bank building, the letter opened with praise for Watson. Opening of the letter, calling attention to "the fine work done and the splendid influence put forth by the senior senator from Indiana," toward locating the loan bank in Indianapolis, was denounced by Chamberlin. Chamberlin scored "such injudicious use of the receivership," in a conference with Downey. Referring to the home loan bank bill, Downey wrote depositors: "This act marks an epoch in American finance and every citizen of Indiana should be grateful to Watson for the prominence Indiana has received through his efforts." Chamberlin said he favored the attempt to rent the vacant building to the government "for it would aid the receivership financially." "But," Chamberlin said, "I doubt the efficacy of sending such a letter to depositors." "I don't want to publicly criticise Downey, as receiver, because he is doing good, efficient work for the bank. I merely object to that portion of the letter referring to Watson." Depositors were urged to write Franklin W. Fort, federal home loan board chairman, at Washington, asking location of the institution in the Washington building. Downey sent depositors a letter, they were to sign and forward to the federal home loan board. This pointed out advantages of the site at Washington street and Senate avenue. Chamberlin declared he "had advised Downey to visit newspapers and explain his action." "I think," Chamberlin said, "that Downey allowed his enthusiasm to lead him to act unwisely and thoughtlessly go too far in one phase of the letter." It is understood the federal board must rent or lease quarters for the home loan institution, being prevented by congress from building or buying a location.

12. March 2, 1933 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, March 2, 1933

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Co-Receivers Are Chosen for Three City Banks Homer Elliott and Oren S. Hack Will Replace Trio Who Resigned Posts. Receiverships of three defunct Indianapolis banks were being consolidated receivers. today, following appointment of two local attorneys as coOren S. Hack and Homer Elliott were named to handle affairs of the Washington Bank and Trust Company, the State Savings and Trust Company and the City Trust Company. A

13. April 22, 1933 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, April 22, 1933

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AWAIT BANK REPORTS Receivers Fail to Comply With Order of Judge Cox. Despite an order by Circuit Judge Earl R. Cox for full and final reports on receiverships of two defunct Indianapolis banks by noon today, none was filed. The order was issued ten days ago to Brandt C. Downey, former receiver of the Washington Bank and Trust Company, and Eben Wolcott, former receiver of the State Savings and Trust Company.

14. June 13, 1933 Muncie Evening Press Muncie, IN

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BANK OFFICERS SUED FOR BOND RECOVERY INDIANAPOLIS, June charging officers the closed Washington Bank and Trust Company with unlawful acts were on in Marion Circuit Court today. Four bonding companies, with whom the officers were bonded, are defendants. The suits were filed by Oran S. Hack, the bank's receiver, seeks recovery $625,000 in bonds the officers. If the amount is recovered it will be used depositors. The bank closed in 1930.

15. June 13, 1933 The South Bend Tribune South Bend, IN

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EXPERT ADMITS GIVING ADVICE TO MITCHELL NEW YORK. June B. Winston, former tary of the told jury Four Indianapolis Suits court that in 1929 he had. as counsel the directors Filed: Jury Goes on of the National City company, officers of the company that $1.860,000 they had received from management fund that year "could in- Press. not be regarded as personal come June 13. Included in the was Oren Hack, receiver for the sum paid to Washigton Bank and Trust comCharles Mitchell, then chairman pany. today sought through four of the company. Mitchell's failure to report the amount in his 1929 suits filed in circuit court to colincome return basis of lect from bonding comone of the charges of income tax panies of former officers and dievasion for which he has been on rectors of the defunct Institution. trial for the last month.

16. July 1, 1933 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, July 1, 1933

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Heads of 2 Closed Banks Are Cleared Grand Jury Report Finds No Acts of 'Criminal Nature.' Officers of two defunct local banks under investigation were absolved of any acts of criminal nature in the final report of the Marion county grand jury filed today. For several weeks the grand jury has been probing affairs of the State Savings and Trust Company and the Washington Bank and Trust Company, following sensational charges made in circuit court hearings. The State Savings investigation was ordered by Prosecutor Herbert E. Wilson, following receipt of letters sent by Circuit Judge Earl R. Cox to Wilson and Criminal Judge Frank P. Baker. In his communications, Cox charged that documentary evidence showed that false statements had been given by bank officers, which, if presented in their true light, would have closed the institution two years before its receivership. When informed of the grand jury report, Cox made no comment, ex(Turn to Page Three)

17. April 13, 1935 Muncie Evening Press Muncie, IN

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3 EX-BANKERS FACE ARREST Indianapolis Men Named as Embezzlers. By Associated Press. INDIANAPOLIS, April 13.—Affidavits were filed in criminal court here today against three former officials of closed banks in Indianapolis, nearly five years from the time the alleged offenses were committed. Those named in the affidavits are Sol S. Meyer, former president of the Meyer-Kiser Bank; Dick Miller, former president of the City Trust Company, and Mark V. Rinehart, former vice-president of the Washington Bank and Trust Company. Each is charged with embezzling deposits. The affidavits were signed by John Dugan, investigator for the office of Herbert M. Spencer, county prosecutor. The failure of these three banks brought losses to approximately 35,000 depositors whose deposits totaled approximately $12,000,000. Meyer, who is said to be in impaired health in Miami, Fla., is alleged to have knowingly and fraudulently received a deposit when he knew the bank to be insolvent. Similar charges are contained in the affidavits against Miller and Rinehart. One Under Sentence. Meyer already is under indictment for embezzlement in connection with the failure of his bank. He and Julian J. Kiser, Melville S. Cohn and Ferdinand S. Meyer, other officers, were charged in an indictment returned last summer with having illegally paid a $27.50 dividend to a stockholder in the Fralich Realty Company of Hammond, Ind., a subsidiary of the bank, when the company had not earned a dividend. Cohn was found guilty and the case is now pending on appeal to the Supreme Court. Trial of Kiser is set for May 6 in criminal court here. The other officers of the bank are at liberty under $15,000 bond each. Miller, who lives in Indianapolis, also is said to be in impaired health. Rinehart has been living in Louisville, Ky. He was vice-president of the Washington Bank and Trust Company until 1929, when he resigned to become president of another trust company. He retained his directorship in the former institution, however, until it suspended business October 27, 1930. The City Trust Company had failed four days previously and the Meyer-Kiser Bank failed five months later. Extradition papers for the return of Meyer and Rinehart will be prepared next week, the prosecutor said. Scott R. Brewer, former president of the State Savings and Trust Company here, was named in affidavits filed by the prosecutor's office last week on charges of embezzlement and perjury. Brewer is in ill health in a hospital at Washington, D. C.

18. April 13, 1935 The Indianapolis Times Indianapolis, IN

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NAME RINEHART, MILLER, MEYER IN AFFIDAVITS Officials of Defunct City Banks Charged With Accepting Deposits Knowing Institutions Were Insolvent. BONDS ARE FIXED BY JUDGE BAKER Capias Warrants Are Issued for Arrest of Trio After Filing of Counts in Criminal Court. Dick Miller, president of the defunct City Trust Co.; Mark V. Rinehart, vice president and director of the wrecked Washington Bank and Trust Co., and Sol S. Meyer, president of the closed Meyer-Kiser bank, were charged today, by affidavit, with the embezzlement of deposits. The affidavits, presented in the Marion County Criminal Court by Prosecutor Herbert M. Spencer and signed by John F. Dugan, investigator for the prosecutor's office, culminated months of effort in probing closed banks in Indianapolis by grand juries and special investigators. Criminal Judge Frank P. Baker fixed bonds on the charges at $15,000 for Mr. Miller and Mr. Rinehart and $5000 for Mr. Meyer who is now out on a $15,000 bond in connection with a similar charge. Capias warrants were issued for the arrest of the three bankers. Extradition proceedings to bring Mr. Meyer back to this city from his home in Miami, Fla., and Mr. Rinehart from his residence in Louisville, Ky., will be started next week, Prosecutor Spencer said. Mr. Miller has been reported ill at his home, 3130 N. Delaware-st. The three affidavits are identical in that they charge each former bank officer with accepting deposits with the knowledge that each of the banks was insolvent on or about the date of the closing of the three institutions.

19. April 13, 1935 The Indianapolis Times Indianapolis, IN

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Depositors Are Named The affidavit against Mr. Miller charges that on Oct. 22, 1930, the day before the City Trust Co. closed, that a deposit of $25 in money was accepted by the bank from Wilfred Bradshaw. Mr. Bradshaw now is judge of Municipal Court One. Mr. Rinehart is charged, through bank employes, with accepting a deposit from the Roberts Restaurant, Inc., of $312.63 in money on Oct. 27, 1930, the day the Washington Bank and Trust Co. closed its doors. Checks totaling $320.95 and $129.98 in money deposited by Lee F. Remmetter, druggist, of 4225 E. Washington-st, on May 11, 1931, in the Meyer-Kiser bank are the basis of the charges of accepting deposits "fraudulently" against Mr. Meyer. Morris Death Recalled Mr. Spencer pointed out that in filing the charges that every effort was made to fix the responsibility for alleged violation of the state banking statutes on men holding the presidency or highest executive position in the banks. Although Mr. Rinehart resigned as vice president of the Washington Bank and Trust Co. in 1929 to head the Farmers Trust Co. he still retained his directorship in the W. Washington-st bank up to the time of its closing, Mr. Spencer says. J. Edward Morris, president of the W. Washington-st institution, was found dead in his garage, victim of carbon monoxide poisoning. He was believed to have committed suicide.

20. April 13, 1935 The Indianapolis Times Indianapolis, IN

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THREE MORE CITY BANKERS ARE CHARGED WITH EMBEZZLEMENT Miller, Meyer and Rinehart Accepted Cash Deposits Knowing Institutions Were Solvent, Affidavits Allege. BONDS ARE FIXED BY JUDGE BAKER Capias Warrants Are Issued for Arrest of Trio After Filing of Counts in Criminal Court. Dick Miller, president of the defunct City Trust Co.; Mark V. Rinehart, vice president and director of the wrecked Washington Bank and Trust Co., and Sol S. Meyer, president of the closed Meyer-Kiser bank, were charged today, by affidavit, with the embezzlement of deposits. The affidavits, presented in the Marion County Criminal Court by Prosecutor Herbert M. Spencer and signed by John F. Dugan, investigator for the prosecutor's office, culminated months of effort in probing closed banks in Indianapolis by grand juries and special investigators.

21. April 13, 1935 The Indianapolis Times Indianapolis, IN

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Depositors Are Named The affidavit against Mr. Miller charges that on Oct. 22, 1930, the day before the City Trust Co. closed, that a deposit of $25 in money was accepted by the bank from Wilfred Bradshaw. Mr. Bradshaw now is judge of Municipal Court One. Mr. Rinehart is charged, through bank employes, with accepting a deposit from the Roberts Restaurant, Inc., of $312.63 in money on Oct. 27, 1930, the day the Washington Bank and Trust Co. closed its doors. Checks totaling $320.95 and $129.98 in money deposited by Lee F. Remmetter, druggist, of 4225 E. Washington-st, on May 11, 1931, in the Meyer-Kiser bank are the basis of the charges of accepting deposits "fraudulently" against Mr. Meyer. Witnesses on the affidavits in the three cases are: Miller affidavit, Municipal Judge Wilfred Bradshaw, George S. Olive, Howard W. Painter, R. W. Spiegel, Gavin Payne, Oren S. Hack, J. Harry Miles and Joseph V. Hurley; Rinehart affidavit, Henry A. Roberts, Charlton Carlton, and Oren S. Hack; Meyer affidavit, Karl I. Hamilton, Howard Painter, Ida S. Broo, Harold Phipps, John Fox, Russell Lookabill, Albert Uhl, John Roberts, Thomas E. Garvin, Richard A. McKinley.

22. April 13, 1935 The Indianapolis Times Indianapolis, IN

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Morris Death Recalled Mr. Spencer pointed out that in filing the charges every effort was made to fix the responsibility for alleged violation of the state banking statutes on men holding the presidency or highest executive position in the banks. Although Mr. Rinehart resigned as vice president of the Washington Bank and Trust Co. in 1929 to head the Farmers Trust Co. he still retained his directorship in the W. Washington-st bank up to the time of its closing, Mr. Spencer says. J. Edward Morris, president of the W. Washington-st institution, was found dead in his garage, victim of carbon monoxide poisoning. He was believed to have committed suicide. The prosecutor was emphatic in declaring that he did not expect to file additional charges against other officers or directors of the closed institutions.

23. August 10, 1935 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, August 10, 1935

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August, 1900, DANIEL J. O'NEILL. City Clerk. SEAL] Oren S. Hack. as and in capacity of Receiver of Washington Bank and Trust Company, vs. Samuel V. Kirazian, Emma M. Kirazian. Charlotte H. Passwater. State of Indiana, Marion County, SS: In the Circuit Court of Marion County in the State of Indiana. No. 50991.