5126. Indianapolis National Bank (Indianapolis, IN)

View Charter #581 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
581
Charter Number
581
Start Date
July 16, 1884
Location
Indianapolis, Indiana (39.768, -86.158)

Metadata

Model
gpt-5-mini
Short Digest
fa3e2133ef80fac6

Response Measures

None

Other: A receivership is mentioned (Receiver Wallace) and sale of bank stock to satisfy pledged debt; no specific run-response measures (loans, accommodations, suspensions, public displays, or examinations) are described in the articles.

Receivership Details

Depositor recovery rate
61.0%
Date receivership started
1893-08-03
Date receivership terminated
1900-05-03
OCC cause of failure
Fraud
Share of assets assessed as good
41.9%
Share of assets assessed as doubtful
24.9%
Share of assets assessed as worthless
33.3%

Description

July 1884 newspaper items report withdrawals/checking by small depositors and fear of a general run. By January 1885 a Receiver (William Wallace) is selling bank stock, indicating the bank entered receivership/was effectively closed. I infer the July run contributed to subsequent suspension/receivership and permanent closure. OCR-corrections: 'assignee'/'ssignee' standardized to 'assignee/appointed'.

Events (4)
1. November 21, 1864 Chartered
Source
historical_nic
2. July 16, 1884 Run
Cause
Local Banks
Cause Details
Run linked to runs/distress at other local banks (Bilsingers' bank) and generalized nervousness leading to withdrawals by small depositors.
Newspaper Excerpt
Considerable checking is being done on the Indianapolis National from small depositors, and a general run on all banks is feared.
Source
newspapers
3. January 6, 1885 Receivership
Newspaper Excerpt
Receiver Wallace says it is true that he has sold $100,000 of the stock of the Indianapolis National Bank ... The stock was sold at par, Receiver Wallace's Sale of Bank Stock.Receiver Wallace indicates the bank is in receivership and assets are being disposed of by the receiver.
Source
newspapers
4. August 3, 1893 Receivership
Source
historical_nic

Newspaper Articles (3)
1. July 16, 1884 The Daily Cairo Bulletin Cairo, IL
Article from The Daily Cairo Bulletin, July 16, 1884

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Article Text

William Wallace has been appointed asignee on a bond of $500,000. A run was also begun on the Bilsin gers' bank, a small private concern, whose depositors are principally Germans. Considerable checking is being done on the Indianapolis National from small depositors, and a general run on all banks is feared.

2. July 18, 1884 The Waco Daily Examiner Waco, TX
Article from The Waco Daily Examiner, July 18, 1884

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Article Text

William Wallace has been appointed ssignee on a bond of $500,000. A run was also begun on the Bilsingers' bank, a small private concern, whose depositors are principally Germans. Considerable checking is being done on the Indianapolis National from small depositors, and a general run on all banks is feared.

3. January 6, 1885 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, January 6, 1885

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Article Text

Receiver Wallace's Sale of Bank Stock. Receiver Wallace says it is true that he has sold $100,000 of the stock of the Indianapolis National Bank, but the money was applied on the debt of Fletcher & Sharpe to the Connecticut Mutual Life Insurance Company, for which the stock was held in pledge by the company, an not on the debt secured by the bank building. The stockholders in the bank at this time are Theo P. Haughey, Henry Latham, Dr. P. H. Jameson, Harvey Satterwhite, of Martinsville; William I. Hiss, of Baltimore; M. A. Weir, of New Albany; Schuyler Colfax, South Bend; General Lew Wallace, Crawfordsville; Dr. James H. Woodburn, Charles F. Meyer. August B. Meyer, A. J. Treat, Henry Rauh, D.B. Shideler, John W. McQuiddy, Scott Butler, W. R. Rexford, Joseph A. Moore and Mary C. Rariden, all of this city, The stock was sold at par,