Multiple contemporary articles report a $50,000 run Feb 14, 1929 that caused directors to close the bank as a precaution (invoking the 60-day reorganization period). The bank reopened March 21, 1929, but a renewed run forced directors to close again March 23. By late March the institution was placed in liquidation/under a liquidating agent. Cause of runs is clearly local bank failures and loss of confidence from other Wells County bank closings.
Events (7)
1.February 14, 1929Run
Cause
Local Banks
Cause Details
Run triggered by prior failures/closures of Wells County banks (Wells County State Bank and others) that produced panic and heavy withdrawals.
Measures
Directors decided to close the bank as a precaution; invoked 60 days permitted by law to effect reorganization; state banking department took charge.
Newspaper Excerpt
A run of $50,000 was made on the Union institution Wednesday, according to Fred J. Pangeman, president
Source
newspapers
2.February 14, 1929Suspension
Cause
Local Banks
Cause Details
Closed voluntarily by directors (with consent/coordination with state examiners) after the run and in view of public attitude and county-wide banking panics; intended as precautionary suspension to allow reorganization under the 60-day rule.
Newspaper Excerpt
the Union Savings and Trust Company ... closed its doors this morning after $50,000 run yesterday
Source
newspapers
3.March 21, 1929Reopening
Newspaper Excerpt
BLUFFTON, Ind., March 21.-The Union Savings and Trust Company Bank, after being closed since Feb. 14 ... was reopened today. Since the close of the bank a complete check of its condition was made to reassure depositors.
Source
newspapers
4.March 23, 1929Run
Cause
Local Banks
Cause Details
After reopening, confidence was not fully restored and a 'slow steady run' or renewed withdrawals reduced resources, prompting voluntary closure to protect depositors.
Measures
Directors voluntarily suspended operations again at noon to protect depositors; liquidation of deposits was to be started as soon as possible (per officials).
Newspaper Excerpt
The Union Savings and Trust Company ... again was closed by directors today, following run.
Source
newspapers
5.March 23, 1929Suspension
Cause
Local Banks
Cause Details
Second voluntary suspension due to renewed withdrawals and persistent lack of public confidence following county banking failures.
Newspaper Excerpt
the Union Trust Co. of Bluffton ... was closed voluntarily at noon today when officers of the bank saw that the confidence in the bank had not been restored
Source
newspapers
6.March 30, 1929Other
Newspaper Excerpt
Walmer charge the Union Savings Trust Company liquidation. ... is in charge of a liquidating agent since last March. gave depositors a pleasant surprise when they mailed to them checks for a payment of 10 per cent of money due. The total distribution today amounted to about $26,000. This made the third distribution by the Union Savings and Trust Company, for a total of 40 per cent.
Source
newspapers
7.March 30, 1929Receivership
Newspaper Excerpt
the Union Savings Trust Company ... has been in charge of a liquidating agent since last March. ... the state banking department ... authorized D. A. Walmer ... to act as liquidating agent.
Source
newspapers
Newspaper Articles (21)
1.February 14, 1929The Indianapolis TimesIndianapolis, IN
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TWO ADDED TO CLOSED BANK LIST IN STATE Includes Another Bluffton Institution and One at Montpelier. TOTAL STANDS AT SIX Receivership Plea of Examiners to Be Heard Feb. 21. By Times Special BLUFFTON, Ind., Feb. 14.-The number of banks closed as the result of the failure Wednesday of the Wells County State bank of Bluffton was increased to five today when the Union Savings and Trust Company of Bluffton and the Farmers' Deposit bank of Montpelier failed to open for business. Both were closed as a precautionary measure by their directors after runs, induced by the three previous bank failures, mounted to large figures. $68,000 Withdrawn A run of $50,000 was made on the Union institution Wednesday, according to Fred J. Pangeman, president, while Guy Bracken, president of the Montpelier bank, reported withdrawals of $18,000. Both officials reported that their institutions were solvent, but said that after a conference with Thomas D. Barr, assistant state bank commissioner, they decided it would be unwise to open in view of the attitude of the public. The state banking department has taken charge of all five institutions. Receivers Asked Hearings on petitions asking appointment of receivers for two of the five banks have been set here for Feb. 21, by Circuit Judge A. W. Hamilton. Receivers are asked for the Wells County State bank of Uniondale. The others closed Wednesday are the Bank of Petroleum and the Liberty Center State bank. Investigation of the banks is being made by seven state examiners, assigned by Luther F. Symons, state bank commissioner and working under direction of Barr. Symons said he was unable as yet to say whether deposits of $1,250,000 in the bank at Bluffton are safe. He indicated there is a possibility that the bank may be reorganized.
2.February 14, 1929The Washington TimesWashington, DC
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Fifth Bank Is Closed In Indiana Debacle BLUFFTON, Ind., Feb. 14 (I.N.S.). In the face of the financial hysteria sweeping Wells county which yesterday forced four banks to suspend operations, the board of directors of the Union Savings and Trust Company, a $400,000 institution, today decided to close.
3.February 14, 1929Palladium-ItemRichmond, IN
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BANK AT BLUFFTON CLOSES RUN OF
Feb. Union and only bank in Bluffton. closed its morn ing yesterday. Farmers' Deposit bank Montepelier, the county line, closed morn said to Four banks in county closed yesterday. Fred Tangeman, president of the Union Savings and Trust comThomas Barr, state bank examiner, said closing was to the run on the bank that entirely solvent. Officers and directors they expected to take advantage of the sixty days permitted law to effect reorganization then hoped reopen. The Union Savings and deposits Yesterday the Wells bank, deposits of closhours State Bank closed. were filed in the court here asking for both institutions, and (Please Turn to Page Eleven)
4.February 14, 1929Princeton Daily ClarionPrinceton, IN
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MORE WELLS COUNTY BANKS CLOSE DOORS
The Union Savings and Trust company. the only remaining bank in Bluff ton. closed its doors this morning after $50,000 run yesterday The Farmers Deposit bank of Montepelier. on the county line. also closed this morning due. it was said to an $18,000 run yesterday Four banks in Wells county closed yes Fred J. Tangeman president of the Union Savings and Trust company and Thomas Barr. state bank examiner. said the closing was due to the run on the bank and that it was entirely solvent Officers and directors said they expected to take advantage of the 60 days permitted by law to ef feet a reorganization and then hoped to reopen The nion Savings and Trust had deposits of approximately $800,
Closing of the Wells County State bank here Monday precipitated the closing of three other banks in small towns in Wells county They were the Bank of Petroleum. the State bank of Union dale and the Liberty Center State bank The banks in the three small com munities closed within few hours after the Wells County State bank here had been closed by Thomas Barr. state bank examiner. The banks in the three small towns all cleared through the Wells County State bank Lack of ready eash prevented them from continuing business today. In each instance hope was expressed that a reorganization might be affected and the officers of all the institutions said there would probably be no loss to depositors The Studebaker bank of Bluffton failed in 1927 with deposits of $1,500. 000. Receivers of this institution have thus far made no payments to deposi
The Bank of Petroleum was capital ized at $13,500. It had deposits of $140,000 The officers are Henry Schodt. president. and Howard Nutter cashier The enpitalization of the State bank of Uniondale was $2,000 and deposits were $200,000 H. W. Lipkey is prest dent and W A. Brickley cashier. The Liberty Center State bank also was capitalized at $25,000 and had $200,000 deposits. Its officers are John V. Funk. president, and Roy Mossburg. cashier.
CARD OF THANKS
We take this means of expressing our thanks and appreciation of the many acts of kindness and sympathy shown us during the recent illness and death of our father. William Hyneman, and especially for the beautiful flowers that help much to remove THE FAMILY
5.February 14, 1929Santa Cruz Evening NewsSanta Cruz, CA
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CITY PLANNING MEET OF REALTORS AT FRESNO
Feb. forty delegates attending, the fourth annual state, region and city planning conference of the California Real Estate association, began its sessions here today.
RUN CLOSES INDIANA BANK
Ind., Feb. (AP) Union Savings and Trust company, the only remaining bank in Bluffton. closed its doors today after $50,000 run yesterday.
6.February 14, 1929The South Bend TribuneSouth Bend, IN
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LAST BLUFFTON BANK IS CLOSED
Six Institutions in One Indiana County Shut Within 24 Hours.
Associated BLUFFTON, Ind., Feb 14. The Union Savings & Trust company, the only remaining bank in Bluffton, closed its doors this morning after Wednesday. The Farmers Deposit bank of Montpelier, on the Wells-Blackford county line, also closed this morning. said to Wednesday. Four in Wells county closed Wednesday Fred president of the Union Savings Trust company, and Thomas state bank examiner, said the closing was due to the run on the bank and that was entirely solvent. Officers and directors said they expected to the 60 days permitted by effect and then hoped to reopen. The Union Savings Trust had deposits of approxiWednesday the Wells County bank, with deposits of closed. few hours later the bank Uniondale closed. Petitions were filed in circuit court here asking for ceivers for both institutions, alleging they were failing and insolvent condition. The Bank Petroleum and the Liberty Center State bank also closed Wednesday. The smaller banks cleared through the Wells County Guy Bracken is president of the Farmers Deposit of Montpelier. had deposits of approximately The state banks at Poneto and Craigville and the Farmers State bank Ossian, other banks in the county, still are open.
SANITARIUM SUES ACTRESS.
LOS Calif., Feb. Alma Rubens. film actress. convalescing in sanitarium following nervous breakdown. has been made defendant $105 suit by another sanitarium, alleging nonpayment for
7.February 14, 1929The Times-MailBedford, IN
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WELLS COUNTY INSTITUTION WITHIN DAY
VOLUNTARY
Financial Hysteria Brings Unjustified Action Against Solvent tution
BLUFFTON, Ind., face of the financial Wells county, that yesterday forced four banks to suspend operations, the of directors of the Union Savings Trust Company, stitution, today decided to close the bank. This action which followed the bank in which $50,000 paid out, left the city of Bluffton tempority mass meeting which was the auditorium the Poneto grade school last night. More than citizens attended. Mussellman made stiming plea for support of the and present promised to get behind While excited citizens were discussing the last Bluffton bank today, the state banking examinhere in force, were following tomary proceedure in taking of the closed institutions. Applications were filed ith circuit judge Hamilton here for receivers for the county state bank Bluffton and for the Uniondale state bank of Uniondale. Judge Hamilton set February 21st the date for the hearing. An application also was filed in the circuit court by officials of the bank of Petroleum, which private bank, for the appointment of trustee to liquidate the bank's affairs. The Liberty Center bank Liberty Center was declared fully solvent by Barr, having received his permission to close to avoid the frenzy of however, characterized the in Wells county today situation the result of local conditions the like of which don't know of anywhere Barr said. expressed the hope that the worst Officials of the two banks for which
8.February 14, 1929The Anderson HeraldAnderson, IN
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State Official Asks Court To Appoint Two Receivers.
BLUFFTON, Feb. 13. Following the closing of four county banks today Luther mons, state bank peared circuit court here this afternoon two petitions asking receivers appointed for the County state bank, Bluff the Bank Uniontwo of the institutions that clos The bank Petroleum and the Liberty Center State bank also sus pended operations. The petitions out that examinations by the banking showed the county state bank and the state bank Uniondale failing and insolvent Judge Hamilton February the date for hearings the petitions. Closing is The Wells county state bank did open for business today, and shortly after noon the three other banks, which cleared through the Bluffton institution, also closed their doors. The Wells county bank was talized $100,000 and showed posits $1,250,000. president: Morrow, first Frank ond and patrick, cashier. The bank closed Thomas Barr, examiner The the Uniondale bank $25,000 and deposits $200,000. H. president and W. Brickley cash-
The Union Savings and Trust Company the only bank BluffThe Studebaker failed In deposits of $1,500,000. Receivers made no payments deposits.
9.February 15, 1929The Richmond ItemRichmond, IN
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SIX BANKS CLOSED IN WELLS COUNTY
(By The Associated Press BLUFFTO Ind., Feb. 14.-The closing of the Union Savings and Trust of Bluffton and the failure of the Farmers' Deposit bank of Montpelier to open this morning, made total of six banks closed in Wells county within two days. A mass meeting of citizens has been called to enlist aid in opening a bank here carry on business. $50,000 run on the Union Savings and Trust company was said to be responsible for the closing of that institution, and an $18,000 run on the Montpelier bank prevented its opening today. Fred Tangeman, president of the Union bank, declared that the bank was entirely solvent and that directors hoped to reopen the institution in due time without loss to depositors or stockholders, The bank had deposits of approximately The Farmers Deposit bank had deposits of approximately $500,000. Guy Bracken is president. The Wells county bank. with deposits of $1 closed yesterday morning and a few hours later the state bank of Uniondale closed. Petitions for filed in the circuit court here late yesterday for both banks The bank of Petroleum and the Liberty Center state bank also closed yesterday Luther F. Symons, state bank at Indianapolis today, declared that the stability of the banking situation in the state should not be affected by the various banks in Wells counHe said the situation here had been brought about by the continual agitation of banking problems grow. ing out of the Studebaker bank failure two years ago. He said was his opinion that most, if not all of the banks would come out of their present difficulty with very little. If any loss to the
CONSTABLE SHOT Herman Kelm. 52, special constable, probably fatally wounded late this afternoon when he attempted to serve warrant on Orra Hart Hart shot the constable three times, the bullets penetrating his abdomen back Kelm former patrolman on the Lafayette police force.
10.February 15, 1929The Star PressMuncie, IN
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BLUFFTON NOW WITHOUT BANK
Remaining Institution Closes Opened.
Bluffton. Ind., Feb. 14 closing of the Union Savings Trust Company, of Bluffton, and the failure of the Farmers Deposit Bank. of Montpelier, to open this morning, made total of six banks closed in Wells County within two days. mass meeting of citizens has A been called to enlist aid in opening bank carry on business. Run Closes Montpelier Bank. on Union SavTrust Company was responsible the closing that institution, the Montpelier bank prevented its opening Fred Tangeman, of the Union Bank, that the bank entirely solvent that direcreopen the institution time without depositors The bank had posits The Deposit Bank had posits $500,000. Guy Bracken president. Stability State Banks Safe. The Wells County bank, with posits of closed and few hours later the State Uniondale closed. titions for filed in the Circuit Court here late Bank Petroleum and the Liberty Center State bank closed Luther Symons, state bank commissioner, statement issued Indianapolis today, declared that the stability the banking situation state should not affected various banks Wells County. here had been brought by continual agitation banking growing years said his opinion most, not the banks come out their with little, any, to the depositors. Mass Meeting Friday Night. were of members local service clubs. mass meeting the large auditorium building here Friday night, purpose enlisting the public adopting attitude of confidence toward solvent banks Continued Sixth Page.
11.February 15, 1929The HustlerMadisonville, KY
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BANKS CRASH AFTER RUNS TAKE FUNDS
BLUFFTON, Ind., Feb. Union Savings Trust Company, only remaining bank in Bluffton, closed morning after $500,000 run yesterday. The Farmers Deposit Bank of Montpelier also closed today, due, was said here, to a $500,000 run yesterday. Four banks in Wells county closed yesterday. President Fred Tangeman, of the Union Savings Trust Company, said his bank was solvent, and he hoped to reopen the institution after the usual sixty days for reorganization.
Following the closing of four Wells county banks yesterday, Luther Symons, state bank commissioner, appeared in circuit court with petitions asking that receivers be appointed for the Wells County State bank, of Bluffton, and the Bank Uniondale, two of the that closed. bank of Petroleum and the Liberty State bank also suspended operations. The petitions set out that examinations by the banking department showed the Well County State bank Uniondale failing and insolvent condition." Judge Hamilton set February the date for hearings the petitions. The Wells County bank was capitalized at $100,000 and showdeposits of $1,250,000. The Union Savings Trust company the only bank in Bluffton. The Studebaker bank failed in 1927, with deposits of Receivers as yet have made no payments on deposits.
12.February 15, 1929The Anderson HeraldAnderson, IN
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SIXTH BANK CLOSES IN WELLS COUNTY
Citizens Call Meeting to Enlist Aid in Business.
BLUFFTON, Ind., Feb. 14. (AP) The closing of the Union Savings and Trust company of Bluffton and the failure of the Farmers Deposit bank of Montpelier to open this morning, made total of six banks closed in Well county within two days.
A mass meeting of citizens has been called to enlist aid in opening a bank here to carry on business. A $50,000 run on the Union Savings and Trust company yesterday was said to be responsible for the closing of that institution, and an $18,000 run on the Montpeller bank prevented its opening today. Fred J. Tangeman, president of the Union bank, declared that the bank was entirely solvent and that directors hoped to reopen the institution in due time without loss to depositors or stockholders. The bank had deposits of rpproximately $1,000,000. The Farmers Deposit bank had deposits of approximately $500,000. Guy Bracken is president. Receivers Are Asked The Wells County bank, with deposits of $1,250,000 closed yesterday morning and few hours later the state bank of Uniondale closed. Petitions for receivers were filed in the circuit court here late yesterday for both banks. The bank of Petroleum and the Liberty Center State bank also closed yesterday. Luther F. Symons, state bank commissioner, in statement issued at Indianapolis today, declared that the stability of the banking situation in the state should not be affected by the various banks in Well county. He said the situation here had been brought about by the continual agitation of banking problems growing out of the Studebaker bank failure two years ago. He said it was his opinion that most, if not all of the banks would their present difficulty with very little, if any losg to the lepositors.
13.February 16, 1929The Indianapolis TimesIndianapolis, IN
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CLOSED BANKS PLAN TO OPEN Wells County Crisis May Be Eased Next Week. By Times Special BLUFFTON, Ind., Feb. 16.-Wells county's banking crisis may be eased early next week when the Union Savings and Trust Company is expected to open its doors. Five financial institutions in the county closed- during the week. A mass meeting at which all parts of the county was represented was held here Friday night, several speakers expressing confidence that the situation could be relieved. There were indications that the panicky feeling which caused runs is subsiding. The Wells County State bank here was the first to close. Three other banks, which used the local institution for clearing purposes, ceased business the following day. Then the Union Trust and Savings closed as a precautionary measure, after a run had started. The three others closed were at Liberty Center, Petroleum and Uniondale. At the meeting there were indications that the Liberty Center and Uniondale banks also would re-open next week. Liquidation was reported in progress at Petroleum. The audit of the Wells County State bank has not been completed and there is no information available at this time on its condition.
14.February 16, 1929The Call-LeaderElwood, IN
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MASS CITIZENS
Bluffton, Ind., Feb. 15. The Union Savings and Trust company, which closed its doors temporarily Thursday morning with the consent of the state banking department, for the purpose of giving the depositors opportunity to recover from a panicky state of mind. that threatened to continue an unnecessary' and unwarranted run on the bank, today announced tentative plans to reopen the banking institution next Monday or Tuesday. This early reopening was provisional on the proper attitude of restored confidence expressed by citizens of Bluffton in the meantime. Mass Meeting Held. For the purpose of having the banking situation explained fully and to give opportunity for the general publie to express its attitude in the present financial crisis in Wells county following the suspension of business by five banks since Tuesday, a county-wide mass meeting was held here tonight. The purpose was to endeavor to get the public sentiment favorable to the reopering of the Trust company bank here. but to stand back of other solvent banks ready to proceed with the regular run of business If confidence of depositors guarantees that there will be no runs from such banks and with drawals limited to the needs of the general run of business. The big auditorium was jammed. the publicity given by newspapers as well as personal intiations extended today by automobile parties from this city having brought, representative citizens from every section of Two Other Banks May Open. With the perfectly solvent condition of the Trust Company here explained there were expressions of confidence expressed at the meeting which seemed to give assurance That this bank will be: able to reopen for planned, Center State bank is banking de, partment permitted voluntarily to close for a few days to give the sit. nation time to be calmed down and which is expected to resume business soon, possibly the first of the week again. The Uniondale bank is another which If was reported today may be able to reopen soon with restoration of public confidence. The Petroleum bank was reported going forward with plans for liquidation. The audit of the Wells County bank, of this city, the first to close, had not been completed today and no statement was forthcoming concerning its condition or plans for the
Insurance that Insures. Frank E DeHority, 116 North Anderson street.
15.March 21, 1929The Indianapolis TimesIndianapolis, IN
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BLUFFTON BANK OPENS Resumes Business After Being Closed Since Feb. 14. By United Press BLUFFTON, Ind., March 21.-The Union Savings and Trust Company Bank, after being closed since Feb. 14 to avert an unwarranted run and to conserve resources, was reopened today. Since the close of the bank a complete check of its condition was made to reassure depositors. The reopening is expected to relieve the banking situation in this section, which had became somewhat acute, due to the closing of several institutions.
16.March 23, 1929Chronicle TribuneMarion, IN
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BLUFFTON BANK AGAIN FORCED TO CLOSE DOORS
BLUFTON, Ind., Mar. The Union Trust Co. of Bluffton, $400,000 which reopened its doors only last Thursday, was forced to suspend again at noon today owing to "steady on its resources. The bank closed its doors first Feb. 14, following the bank's closing was made by Tangeman, secretary of the He blamed the lack of public confidence for the second suspension.
17.March 23, 1929Muncie Evening PressMuncie, IN
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BLUFFTON BANK AGAIN CLOSED
Lack of Public Confidence Is Cited by Official.
BLUFFTON, Ind., March The Union Savings and Trust Company which was closed February 14 and re-opened Thursday, again was closed by directors today, following run. The bank, having capital of $450,000, was closed February 14, after run which had dwindled its resources. The day previous the Wells County Bank failed to open its doors, and the run on the Savings Company occurred. New Run Closes Bank. At its reopening, Thursday, directors believed that the confidence its depositors had been restored and that it could resume its busiApparently the depositors believed the institution was not good shape and another run curred today and after meeting
Continued Three
18.March 23, 1929The Indianapolis NewsIndianapolis, IN
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BANK CLOSES AGAIN
Bluffton Institution. Reopened Thursday, Protects Depositors. BLUFFTON. Ind., March 23.-The Union Savings and Trust Company, of this which reopened here Thursday after being closed since early in February was closed voluntarily at noon today when officers of the bank saw that the confidence in the bank had not been restored and that the closing was in order to protect The bank was first closed Febru14, following the closing of the Wells County Bank, and was closed because the officers the action was necessary to protect the deposiFollowing the former closing of the bank. bank examiners completed an audit of the bank's affairs and issued that they found the bank to in solvent condition as far the are concerned. Officers of the bank said they lieved this statement had restored the confidence of the depositors in the bank and so opened the institution Thursday However, slow steady run on the bank its opening convinced them another closing was necessary Fred O. Tangeman, an officer of the bank. said he the bank to be solvent far as are concerned. He said the liquidation of the bank's deposits be started as soon as possible The bank has deposits amounting to approximately $425,000.
Exchange Club Hears Memory Experts The was Club
19.March 23, 1929Evansville PressEvansville, IN
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CLOSE BLUFFTON BANK AGAIN FOLLOWING RUN
DEATHS
Mrs. Fern Duffy Funeral Mrs. Fern who died Thursday night her home, 1420 Read-st, held the residence of her parents, Mr. and Mrs. Albert Braselton, 1318 Harriet-st. Saturday. Burial in Oak Hill cemetery.
John Goebel Services for John Goebel, farmer, who was found dead his home near Armstrong Thursday afternoon, will be held the residence Sunday and m. Paul's Big Cynthiana road. Burial in the church cemetery.
Mrs. Evelyn Lynn Final for Evelyn 98. died Thursday the home daughter, Mrs. Helen Cavins, 1405 were held the home granddaughter. Mrs. Ruby Hollander, 1010 Baker-av, Saturday. Burial Barnett cemetery,
Mrs. Mary Miller Services for Mrs. Mary Miller, who died Thursday at the home her daughter, Mrs. Mardora Woosley, 112 Michigan-st. were at the daughter's residence at Saturday the Holy Trinity church. The body was taken to Owensboro, Ky., for burial.
John Kirchner Last rites John Kirchner, 81. West Heights retired blacksmoth, died Thursday home, will be held the residence Monday and at St. Boniface Catholic church. Burial will be in Oak Hill cemetery.
Institution Which Reopened day Forced to Shut Doors
Miss Carrie Wendt Miss Carrie died home, 400 at Saturday after lingering ness. She survived by sister, Mary. and three brothers, Frank United and Fred, this city, and Edward, BLUFFTON, Ind. Mar. Union Savings and Trust company Services will be the home Monday, Rev. Rake, which closed Feb. 14 and First Baptist church, officiating opened Thursday. again was closed Burial will be in Locust cemeby directors today, following tery. The bank, having capital of $450,000, closed Feb. after run which had dwindled its DISEASE IS BELIEVED sources. The day previous the TO BE "RABBIT FEVER" Wells County bank failed to open its doors, the run on the savings company occurred. Vincennes Woman's Malady Studied reopening Thursday, di- by Scientists rectors believed that the confidence Special Correspondence of its depositors had been Mar stored and that could resume mysterious malady with which business. Mrs. Frank Shouse announced today. Meanwhile warring camps continued to hurl charges and countercharges, but Director John Williams the highway Gov. Leslie, who demands his and resignation, silent. governor today did deny positively report Williams' lowers that Williams would given the of chief examiner the board of accounts, would retire without contest.
20.March 30, 1929Muncie Evening PressMuncie, IN
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BANK OPENS AT BLUFFTON
Old National Bank Ready for Business Today.
BLUFFTON, Ind., March The Old National Bank of Bluffton. operating under recently granted state opened business here in old Studabaker Bank building recently purchased from Bank for The National Bank is capitalized at with surplus. The institution is backed by the National Fort Directors. Officers of the bank Henry C. Paul, president: Frak H. Cutshall, Hitzeman, cashier, and W. Stogassistant Paul. Cutshall. W. M. Wilson H. Bowerfind. all of The the that an would be affiliated with the local bank for the of securities in the This organization will be at $25,000. Holds Stock. further that all capital stock in the bank subscribed by Fort men and that the bank here gets fully into operation. this would have the opportunity to buy stock in the bank. Local men also will be employed in the bank, announced. First Bank Open. Following garding National Bank, officers of the First Commercial Bank, started here under state charter Wells County Bank building. announced that they had received national charter and from now on their bank would be known First National Bank Bluffton. This bank also capitalized $100,000. surplus $50,000. This institution backed by interfrom National Bank Wayne. Niezer president; Harry dent; Potthoff. cashier, R. Fitzpatrick assistant cashier. With above banks now operation financial affairs the county moving smoothly Morris Stultz, receiver Studabaker Wells County Bank, is ing his work of liquidating those stutions. Walmer charge the Union Savings Trust Company liquidation.
21.November 3, 1929The Star PressMuncie, IN
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EXPANSION OF PLANT PLANNED
Bluffton Industry Acquires Hotel Building.
Bluffton. Ind., Nov. 2.-The manufacturing firm of Patton & McCray, comprised of W. A. Patton and Morris McCray, today purchased the old Commercial Hotel building. immediately adjoining their brick factory building on the west. and will enlarge their factory. The new property doubles their space and gives the firm a plot 140x160 feet adjacent to the Clover Leaf railroad tracks. The first step in the expansion program will be the construction of a new mill room.
Third Bank Distribution. The Union Savings and Trust Company. which has been in charge of a liquidating agent since last March. gave depositors a pleasant surprise when they mailed to them checks for a payment of 10 per cent of money due. The total distribution today amounted to about $26,000. This made the third distribution by the Union Savings and Trust Company, for a total of 40 per cent. A 20 per cent distribution was made May and a 10 per cent payment was made August 1. The bank was closed in a solvent condition when runs were started after other local banks had closed. The state banking department, which after an audit pronounced the trust company in solvent condition, authorized D. A. Walmer. president of the institution, to act as liquidating agent. Woman Champ Husker Named. Mrs. Dwight Reynolds. of Harrison Townships, was declared the woman champion corn husker of Wells County when she headed a list of nine women huskers who competed in a thirty-minute husking bee after the third annual husking bee for Wells County men had been held Mrs. Reynolds' record was 8.5 bushels in thirty minutes. Mrs. Mary Vickery, of Rockcreek, and Mrs. Ralph Walborn, of Harrison. were tied for second place, each husking 7.6 bushels. The other six, finishing in order. were: Mrs. Luster Yager. 7.3: Mrs. Samuel Dickason. 7.2: Mrs. Willard Jarrett.
