5136. Maple Road State Bank (Indianapolis, IN)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
December 30, 1930
Location
Indianapolis, Indiana (39.768, -86.158)

Metadata

Model
gpt-5-mini
Short Digest
f40e908ebebd510f

Response Measures

None

Description

Articles report a run that prompted directors to close the bank on Dec 30, 1930 and place it in control of the Indiana Department of Banking. The bank did not resume normal operations; a 1934 article references payments to depositors (35 cents on the dollar), consistent with permanent closure/receivership. Cause of the initial run is not described (article only says to stem a run), so cause for the run is classified as 'other'.

Events (3)
1. December 30, 1930 Run
Cause Details
Newspaper states directors closed doors to stem a run; no specific trigger (rumor, correspondent failure, or bank-specific insolvency) is given.
Measures
Directors closed the bank's doors to stem withdrawals and conserve assets; placed affairs in hands of state banking department.
Newspaper Excerpt
directors of the institution having closed its doors Tuesday afternoon to stem a run and conserve its assets.
Source
newspapers
2. December 30, 1930 Suspension
Cause
Government Action
Cause Details
The Indiana Department of Banking took control after directors closed the bank; the state banking department closed the Citizens State bank the same day for the same reasons.
Newspaper Excerpt
STATE CONTROLS BANK Maple Rd Institution Is in Hands of Indiana Department.
Source
newspapers
3. * Receivership
Newspaper Excerpt
the Maple Road bank has paid 35 cents on the dollar to depositors. (1934 reference to dividend/payment to depositors indicates receivership/settlement).
Source
newspapers

Newspaper Articles (4)
1. December 30, 1930 The St. Louis Star and Times St. Louis, MO
Article from The St. Louis Star and Times, December 30, 1930

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Article Text

TWO LARGE BANKS CLOSE DOORS AT INDIANAPOLIS Dec. The Maple Road State Bank institution closed afternoon being the Indianapolis bank suspend today The Citizens Bank with nearly deposits closed doors noon Mississippi Banks Close MISS Dec to Denotice the front doors of two the largest banks Clarksdale today lowing They Planters National Bank Planters Trust and Savings Bank, an affiliated banks also were Mississippi closed today Maj. Franco In Belgium scraps of Maj. Ramon Franco, air who fled from his native land cently attempt arrived here today in search of

2. December 31, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, December 31, 1930

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Article Text

STATE CONTROLS BANK Maple R d Institution Is in Hands of Indiana Department. Affairs of the Maple Road State bank, 3817 North Illinois street, were in the hands of the state banking department today, directors of the institution having closed its doors Tuesday afternoon to stem a run and conserve its assets. The bank's closing came a few hours after the Citizens State bank, 2602 West Michigan street, was closed by the banking department for the same reasons. The Maple Road State bank was capitalized at $25,000; had loans of $180,000, deposits of $180,000, and surplus of $10,000. K. T. Brock is president and L. V. Wright, cashier. J. W. Pullen, president of the Citizens State bank, is vice-president of the Maple Road bank.

3. May 15, 1931 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, May 15, 1931

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Article Text

Lying on the garage floor near the exhaust of his car, which was running, John Pullen, 50, of 418 Buckingham drive, former official of two state banks which closed in December, attempted to take his life today. Following first aid treatment at his home, Pullen was rushed to city hospital where he received oxygen treatments. Later he was removed to the Methodist hospital. His condition was reported as "fair" by physician. Pullen had gone to the garage at 5 a. m. His brother-in-law, William Guynn, 52, of the same address, found him at 7:30. Pullen lay with his head at the end of the exhaust. He had covered his head with an overcoat, which, police said, possibly prevented his death. Pullen was president of the Citizens State bank, 2600 West Michigan street, and vice-president of the Maple Road State bank, Thirtyeighth and Illinois streets. The west side institution closed the morning of Dec. 30 and in the afternoon the Maple road bank was closed. Recently, according to Mrs. Gertrude Pullen, his wife, Pullen has been in ill health. He returned from Martinsville Sunday. First aid was administered Pullen

4. May 4, 1934 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, May 4, 1934

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Article Text

PARTY HARMONY TO AID KERN IN MAYORAL RACE Judge Starts Windup of Long, Vigorous Speaking Campaign. Judge John W. Kern, Democratic mayor candidate, today began the windup of a long and vigorous speaking campaign he has carried on during the last month in every section of Indianapolis. Drafted to make the race for mayor, Judge Kern is known to carry almost perfect organized party support. In spite of this fact, he states he has carried on this intensive speaking campaign for the purpose of acquainting citizens in every section of the city with the true facts of who he is and why he is running for the office. Decided upon several weeks ago by leaders as the man to carry the party banner, and reunite the insurgent factions, Judge Kern reluctantly withdrew as a candidate for re-nomination and election to the judgship of superior court, room one. During the last three years, Judge Kern has established an enviable record in that court, finishing second among the five superior judges in number of cases disposed of in 1931 and leading the group in number of cases disposed of in 1932 and 1933. Proud of Bank Record He points with pride to the fact that in the bank receiverships, he has handled the Belmont State bank and paid 18 per cent dividend, with a possible 7 per cent more to come, and the Maple Road bank has paid 35 cents on the dollar to depositors. The Virginia Avenue State bank paid 40 cents on the dollar, and within the last week Judge Kern ordered an initial 30 per cent dividend paid to Aetna Trust Company depositors. Judge Kern is proudest, however. of being able to bring about reorganization of the Trustees System bank and said if nothing hap-