4865. Peoples Loan & Trust Company (Decatur, IN)

Bank Information

Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
trust
Start Date
June 14, 1930
Location
Decatur, Indiana (40.831, -84.929)

Metadata

Model
gpt-5-mini
Short Digest
2f8cd26476f57c2a

Response Measures

None

Description

Multiple June 1930 newspaper reports state the People's Loan & Trust Company in Decatur faced a mad run by depositors on June 14, 1930 following the failure of the Adams County Bank and was forced to suspend/close that day. No articles describe a subsequent reopening; state banking officials took charge of related bank affairs. OCR errors corrected (e.g., 'Feoples' -> 'Peoples').

Events (2)

1. June 14, 1930 Run
Cause
Local Banks
Cause Details
Depositors panicked and withdrew funds after the failure/closing of the Adams County Bank the previous day.
Measures
Officials reportedly arranged shipments of cash (reported shipments by airplane from the National Bank of Chicago) to bolster reserves, but the bank still closed at noon.
Newspaper Excerpt
The People's Loan and Trust company ... was forced to suspend business at noon here today following mad run on the bank by depositors alarmed by the failure here yesterday of the $1,150,000 old Adams county bank.
Source
newspapers
2. June 14, 1930 Suspension
Cause
Local Banks
Cause Details
Forced to suspend/close after heavy withdrawals triggered by neighboring bank failure (Adams County Bank); state banking official took charge of affairs in the county banks.
Newspaper Excerpt
DECATUR. Ind. June People's Trust $500,000 forced suspend here following the bank depositors alarmed by the failure here yesterday of the 150,000 old County bank.
Source
newspapers

Newspaper Articles (4)

Article from The Times, June 14, 1930

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Article Text

BANK FORCED TO SUSPEND DECATUR. Ind. June People's Trust $500,000 forced suspend here following the bank depositors alarmed by the failure here yesterday of the 150,000 old County bank. At the time run was being on the first National bank, institution and the bank left operating here. The officials of this bank were said to have shipments of cash to be rushed here by airplane from the National Bank of Chicago, to enable them to withstand the near janic seized the resi-


Article from The Kokomo Tribune, June 14, 1930

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Article Text

BANK FORCES SECOND RUN SUSPEND DECATUR TO AT and Trust Company, Decatur, capitalized doors at noon today closed the special meeting lowing directors. was the board In Decatur two bank closing Adams County Bank old having been closed yesterday. bank failure the the fourth was county of the old Adams Bank yesterday, steady Loan and Trust the Peoples continued this morning directors were compelled the bank noon. With the close the bank loft only the First city. serious run on this Bank. has was posted The Peoples Bank on the doors noon: for further protection of "Closed leaves four banks The are the First Nathe county. They tional Bank Decatur: the the Bank of Berne and State the Bank of Geneva. the two weeks the Within State Bank Berne and Peoples Grove Bank, also have the Linn been closed. Matthias Kirsch is president institution closed E. the Bell vice president, and Lower D. Barr, deputy state Thomas commissioner, who came banking charge of the here yesterday to Bank, also took old Adams County affairs the Feoples charge Loan and Trust Company. but declined to make statement.


Article from The Springfield News-Leader, June 14, 1930

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Article Text

MAIL THIEF CONFESSES TAKING $4000 IN LOOT ST. LOUIS, June 14.-(AP)Louis C. Kanuer, Jr., 26, confessed mail box thief, today led postoffice inspectors to west end apartments and lifted door mats and rugs to show them more than 100 rifled letters. He was arrested Thursday when he attempted to cash a stolen check. Kaneur said he had opened about 1000 letters and obtained about $4000 since Christmas. He recently served an 18-months sentence on a similar charge. POSTMASTERS NOMINATED WASHINGTON, June 14-The following postmaster nominations were sent to the senate today: Missouri-Buffalo, Phil Hawkins; Collins, Earnest R. Smith; Eldorado Springs, John M. Atkinson, Jr.; Joplin, Charles L. Martin; Keytesville, Joe P. Stiles: Labadie, George E. Drewel; Licking, Berry Crow; Lilbourn, George E. Richars; Westboro, George Bentley; Winona, Ruby Foster. INDIANA BANK CLOSES DECATUR, Ind., June 14-The People's Loan and Trust company, a $500,000 institution, was forced to suspend business at noon here today following mad run on the bank by depositors alarmed by the failure here yesterday of the $1,150,000 old Adams county bank. At the same time a run was being made on the First National bank. $3,000,000 institution here, and the only bank left operating here.


Article from Evansville Courier and Press, June 15, 1930

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Article Text

RUN FORCES BANK TO CLOSE DECATUR. June run by panic-stricken depositors caused the closing today of the People's Loan and Trust company of this city. The closing of the followed only few hours after the closing of Adams county bank here yesterday and left the First National bank the only banking institution in the city. This bank also expertenced serious run but open and paid depositors as they demanded Within the last two weeks two other in Adams county have closed. They were the Linn Grove State bank and the People's State bank of Illiana State bank here was closed today following the arrest of Fred Bell, former on charge embezzing $25,000.