Fletcher & Sharpe (Indianapolis, IN)

Episode Information

Episode UID
4789743991050
Episode Type
Suspension โ†’ Closure
Bank Type
trust
Bank ID
478974399 hash
Start Date
June 24, 1887
Location
Indianapolis, Indiana (39.768, -86.158)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e0a210e8b67c34a6

Response Measures

None

Description

Articles describe receivers appointed and funds held by county clerk; likely failed and wound up, but exact suspension timing unclear.

Events (2)

1. June 24, 1887 Receivership
Newspaper Excerpt
as one of the depositors in Fletcher & Sharpe's bank...we feel more uncertain now than ever about realizing anything...Mr. Wm. W. Wallace and Mr. Milligan, as receivers of Fletcher & Sharpe ... turn it over to the county clerk, a man who gives an insignificant bond ... holds over $90,000 of our money
Source
newspapers
2. August 16, 1893 Other
Newspaper Excerpt
receiverships cases of the...Indiana banking of Fletcher & Sharpe, the latter being fixed were at those bonds ... Receiver was compelled to give a $250,000 bond
Source
newspapers

Newspaper Articles (2)

Article from The Indianapolis Journal, June 25, 1887

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Article Text

The Fletcher & Sharpe Funds. To the Editor of the Indianapolis Journal: As one of the depositors in Fletcher & Sharpe's bank, I believe I voice the sentiment of hundreds of those who likewise are anxious about their money. in saying that we feel more uncertain now than ever about realizing anything. Further, we are not all lawyers, and would like some one to explain how it is that Mr. Wm. W. Wallace and Mr. Milligan, as receivers of Fletcher & Sharpe, and of S. A. Fletcher, each had to give a very large bond before they got any of the money, and after they got the money, they turn it over to the county clerk, a man who gives an insignificant bond of equivocal character. We understand that the county clerk gives but $25,000 bond, and holds over $90,000 of our money, besides many thousands outside of the Fletcher & Sharpe deposit, including the assets of the Ritzinger bank. We gather from the papers that he isFirst-Under indictment as a criminal. Second-That he is charged with being a dishonest dealer by the reports of the legislative committees inyestigating the Hospital for the Insane. Third-That be is a man without a memory, as shown by his own testimony. Fourth-That he is a man with cheek enough to compel the trustees of the Insane Hospital to not only take bad butter when they said they wouldn't, but to make the bill big and compel its payment. Fifth-That his being the employer of all the clerks, and custodians having charge of all the court records, and the direct or indirect selecter of all the juries, from the grand jury down, he defies any court procedure, or any judge, or anybody else. Now, with all this, Mr. Editor, before us, what chance is there for safety of the funds? DEPOSITOR. INDIANAPOLIS, June 24.


Article from The Indiana State Sentinel, August 16, 1893

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Article Text

in he 1849 L. something partnership to live on, with but the late John himself formed Ketcham a and after that confined to worked the law. his way up slowly. few What years He he held and in a the state he made to be known over able in the as he peculiarly came of skillful cases for and the supreme and inpreparation court. That reputation he kept creased until Judge his Taylor death. and Gen. which John In 1853 formed a partnership In 1872 Coburn about three years. his son, lasted formed for a partnership with one of the he Edwin, and Judge Rand, court, which first judges of the until superior Judge Taylor's was maintained the superior bench reporter in 1882. election he to was nominated for Gen. BenIn 1864 superior court against and he was of the Harrison and beaten, the nomination frequently jamin talked bench. of for He stood among for the supreme of the state for among erudithe first lawyers sound judgment, and for all tion first and citizens of Indianpolis the the qualities of good citizenship. who have are probably bench few men in this state There elevated to the decade, has been lot, within a single of to whose the burdensome responsibility larger numfallen and deciding a in liticonsidering gravely important causes refer to the ber of and one has but to his long gation, learn that during been few records to office, there have have term of in Indiana whose decisions by the judges so generally state affirmed as those of supreme been court of Among the the many memJudge Taylor. he decided were the works, reorable ceiverships cases of the Eacle company machine and the the Indiana banking of Fletcher & Sharpe, $1.banking business the latter being fixed were at those bonds in Other receiverships manufactur500,000. Indianapolis car and Henry being of ing the company, give Receiver a $250,000 bond. in an compelled to case ever tried such Probably court no of law attracted which reAmerican wide-spread attention as that of a receiver sulted in supreme the appointment sitting, order of continued the Iron for the it wound up a long throughHall, for of robbery of the which poor had ascourse United States. that they out the proportions so gigantic Receiver Faisumed positively startling. $1,000,000 were ley was required to furnish a bond. The great street railway hardships, strike, is with still all its many desperate minds of Indianapolis situa- peofresh in the Taylor had given the thought. ple. Judge much deep and earnest unless an tion He was troubled, and wholesome for he saw amelioration effected, immediate prevailing conditions could worst be possible of the near approach community of the and so. when, results to the that memorable of midnight taking at meeting, his residence the onerous the question street railway the government of the hands of of the company for the lines was presented out he arose was to prepared the gravity the of emergency He and listened intently those to who the hour. of the complaint forget and his words were reading present will never feet and with his of clinched as he arose hand to down his within the grasp I the other said: I will candidly into say the that law Gentlemen, down deeply and I ceras have it not bears gone upon this matter, but I do know tainly somewhere do not wish along to err. the some line of one this is that railroad difficulty which is street guilty of serious wrong-doing to the people. working serious time hardship has come community to call a I believe the the interest of the Who halt in shall appoint the receiver. place?" be Shaffer was named and will I the right man for the and then some J. C. "Tom Steele." gentleone suggested appoint W. T. Steele, marked "I shall Judge Taylor with now, men," said "You may go Steele's decision when of you tone. have perfected approval Mr. and I and bring it to me for custody of the bond will at railroad once place property. him in The cars must street start this thus morning." was the street railroad trouble And ended. Taylor was elected L. superior McMasmajority judge Judge In in 1886 1882. he defeating defeated John Judge of Livings- nearly son ters. ton Howland by in a 1890 he defeated $4,000. Vin3,000 Carter and again by a majority of over