5139. Marion Trust Company (Indianapolis, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
March 14, 1883
Location
Indianapolis, Indiana (39.768, -86.158)

Metadata

Model
gpt-5-mini
Short Digest
83ac05a2a6b0decc

Response Measures

None

Description

Articles (March 1883) report the Marion Trust Company in Indianapolis was placed in hands of a receiver after suit alleging fraud. No contemporaneous account describes a depositor run; the company appears to have been a swindling concern and was wound up via receivership (permanent closure). Later 1898 notices are receiver's sale ads. Corrected OCR minor errors (e.g., 'perition' -> 'petition').

Events (4)
1. March 14, 1883 Suspension
Cause
Government Action
Cause Details
Suit filed by certificate-holder (Charles E. Shaw) seeking $1,200 and appointment of a receiver; court appointed Martin V. Adkins to take charge.
Newspaper Excerpt
Martin V. Adkins was appointed receiver, and will take charge of the company's affairs to-day.
Source
newspapers
2. March 18, 1883 Receivership
Newspaper Excerpt
A receiver was appointed to take charge on the Marion Trust Company, located in this city. That concern has been in existence about one year, during which time nearly $200,000 has been taken in and $50,000 paid out. The victims to the swindle number about five thousand. There are no assets. (Daily Cairo Bulletin, Mar 18, 1883).
Source
newspapers
3. March 22, 1883 Other
Newspaper Excerpt
Judge Taylor said that he had no doubt that the purpose of the Marion Trust Company was to swindle and deceive... the certificate holders ... are putting their claims into the hands of attorneys, who will push the matter to the end. (Indianapolis Journal, Mar 22, 1883).
Source
newspapers
4. April 12, 1898 Receivership
Newspaper Excerpt
RECEIVER'S SALE... the Marion Trust Company, as receiver, will sell at public auction by order of the Marion County Circuit Court, on the 12th day of April, 1898... THE MARION TRUST COMPANY, Receiver. (Indianapolis Journal, Apr 2 & Apr 9, 1898).
Source
newspapers

Newspaper Articles (10)
1. March 14, 1883 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, March 14, 1883

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Article Text

Struck a Snag. The Marion Trust Company has at last apparently reached its last resting place. Charles E. Shaw, to whom a $1,200 certificate was issued, and upon which he claims to have realized comparatively nothing, brought suit recently against the concern before Judge Walker for the amount and for the appointment of a receiver. Martin V. Adkins was appointed receiver, and will take charge of the company's affairs to-day. The perition alleges that the total assets of the concern, consisting of office furniture, will not exceed $300.

2. March 18, 1883 The Daily Cairo Bulletin Cairo, IL
Article from The Daily Cairo Bulletin, March 18, 1883

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Article Text

An Enormous Swindle. INDIANAPOLIS, March 17.-A receiver was appointed to take charge on the Marion Trust Company, located in this city. That concern has been in existence about one year, during which time nearly $200,000 has been taken in and $50,000 paid out. The victims to the swindle number about five thousand. The average amount received for each was $50. There are no assets. The concern does business in Missouri, Illinois, and other states.

3. March 19, 1883 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, March 19, 1883

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Article Text

A Swindling Concern. Special Dispatch to THE BER. INDIANAPOLIS, March 18 -A receiver has been appointed to take charge of the Marion Trust company, located in this city. The firm has been in existence about one year, during which time nearly $200,000 were taken in and $50,000 paid out. The victims of the swindle number about 5,000. The average amount received from each is $40. It is not likely the concern will pay anything.

4. March 22, 1883 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, March 22, 1883

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Article Text

THE MARION TRUST. Young Collier Released on Habeas Corpus Proceedings-What the Company Offers. The Collier habeas corpus case was heard by Judge Taylor, yesterday, and the release of the plaintiff ordered. Misses Fannie and Lillie McGinniss, clerks in the employ of the Marion Trust Company, were the only witnesses examined. They testified that they had been frequent visitors at the Collier residence since the appointment of the receiver, and that Collier had received and opened a number of letters addressed to his father, containing drafts for suns ranging from $10 to $100. Judge Taylor said that hehad no doubt that the purpose of the Marion Trust Company was to swindle and deceive, and that while the ne exeat writ had been sworn out in good faith, yet he did not think the evidence warranted a further detention of the prisoner. Judge Heller, attorney for the certificate holders, stated that the time between the filing of the habeas corpus writ and its hearing had been too short for him to secure the attendance of witnesses who had sent money from a distance. As Collier was about to leave the court room the Judge called after him that if he failed to turn over to the receiver all money sent to the Marion Trust Company, or to any of its officers, he would be guilty of a crime. No reply was vouchsafed by the exsecretary. The senior Collier is evidently very anxious to stop further legal proceedings, and 18 endeavoring to compronise with the certificate holders, He chooses to effect the compromise, however, at long range, not deeming it advisable to visit the scene of his financial operations. In the effort to ao this the following letter, accompanied by a draft for $5.73, has been sent to each certificate-holder: "Dear Sir-I regret that the January contribution is so small, but could not be avoided, as I did not receive all contributions, but send you every cent of your pro rata share for same month. Please return your certificate. A. COLLIER, "137 East Madison street, Chicago, Ill," In the light of developments made by an examination of the books of the concern, in which It isshown that Collier has recived from about 5,000 certificate-holders in excess of $200,000, and has paid to them less than $30,000, this request to surrender their certificates upon receipt of the paltry sum of $5.73 savors of most-astounding gall. The ultra fraud says: "As I did not receive all contributions," etc., when it is known that his daily receipts, during the last few months of his stay in this city, averaged over $100, and, since his departure, at least $50 daily through his son. The certificate holders, very naturally, are not satisfied with the last and final remittance, and, instead of surrendering their certificates, are putting their claims into the hands of attorneys, who will push the matter to the end.

5. March 23, 1883 The Middlebury Register and Addison County Journal Middlebury, VT
Article from The Middlebury Register and Addison County Journal, March 23, 1883

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Article Text

CLARENCE HITE, sentenced to twenty-five years' imprisonment as one of the James gang of bandits, and pardoned by the governor of Missouri, died of consumption a few weeks after his release. THE marriage of Judge David Davis. of Illinois, late acting Vice-President of the United States, was solemnized at Fayetteville, N. C. On account of the bridegroom's exalted position, and the fact that he had tried to keep his approaching nuptials a secret, his marriage assered much interest The bride is a native of Massachusetts, but her home since early youth has been in the South. She became acquainted with Judge Davis while visiting at Bloomington, Ill., fifteen years ago, when she was a young lady of twenty-five, and was a warm friend of the judge's first wife. Judge Davis is sixty-eight years old. After the marriage the happy couple left on an extended wed. ding trip, and will go as far as California, re. turning to Judge Davis' home at Bloomington in June. LATER reports state that the flood along the Mississippi has subsided. A COMPRESS with 800 bales of cotton was destroyed by fire at Texarkana, Texas, resulting in a loss of $100,000. THE mining town of Forest City, Cal., has been almost totally destroyed by fire. One man lost his life, and the pecuniary loss amounts to several hundred thousand dollars. GEORGE JONES, of Oglethorpe county, Ga., shot and killed his wife whom he had married when she was only eleven years old, and who had refused to live with him after he had assaulted her mother. A ST. PAUL (Minn.) dispatch says it is reported on trustworthy information that the government has decided to release t'ing Bull and his braves, 140 in number, from military custody. They will be taken on May 1 from Fort Randall, where they have been since they were removed from Fort Yates, a year ago. and placed upon the reservation at the Standing Rock agency. A NEW ORLEANS theatre, just before the close of the performance, was the scene of a panic resulting from an alarm of fire. The large audience made a rush for the roof, and after quiet was restored it was found that two men, two women and three children had been severely hurt. THE receiver of the Marion Trust com. pany, of Indianapolis, Ind.. report that in one year nearly $200,000 has been taken in and $50,000 paid out by the concern. The victims of the swindle number about 5,000, and the average amount received from each was $40.

6. March 24, 1883 The Panola Weekly Star Sardis, MS
Article from The Panola Weekly Star, March 24, 1883

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Article Text

LATER. Tm river was getting within its banks below Memphis, Tenn., on the 18th, and measures were being taken to secure the best possible manitary conditions when the water runs off. TOE late Judge Taylor, of Newburg, N. Y., did a heavy business in investing for clients and his accounts the other day showed a deficit estimated at $250,000, caused by depreciation of real estate. SAMUEL RUTH, defaulting cashier of the Washington (Pa.) Savings Bank, has been found guilty of larceny. THOMAS HODGSON, a heavy produce desler, is charged with obtaining large ad. vances from the Bank of Montreal, Cana., under false pretenses. AT an Italian christening in New York City recently Frank Alberto had his head nearly cut off with a razer and two other guests were desperately stabbed. AT Bloomington, Ind., an alleged incendiary fire occurred the other day and four men and a boy were crushed by a failing wall. A WOMAN and child were fatally burned at Venice, O., recently by fife which caught in a kettle of boiling tar. At Bridge. port, Cons., a woman was burned to death while at prayers. A MAN named A. S. Hill went to Salt Lake, Utah some time ago and married a widow, The other day the officers were looking for him and $10,000 of his wife's money. THE Marion Trust Company of Indianapolis, Ind was placed in the hands of Receiver recently, its affairs having resulted disastrously to about 5,000 victims. Ir is said the projected works for the improvement of the Delaware breakwater will require five years for completion. THE Canadian Government last year operated 1,007 miles of railroad it is said at a net loss of $73,488. A DALLAR, (Tex.) physician, who was fined for whipping the Postmaster, re. fused to pay a few days ago and was sent to the rock pile to work out his fine with the gang. PATRICK McKINLEY, a Baltimore & Ohio conductor. was billed near Salemville, 0., recently, by being struck by a mail. catcher while leasing from a ear. Mona than 85,000 was found in the lodgings of a wretched old woman who died the other day after having sold newspapers for half , century In New York. Dr. FORDER, of the Jefferson Medical College, Philadelphis, Pa., has been se. quitted of the charge of complicity with bolly onstchers. Tun Portland, Saco s Portemonth Depot, meat Ellet. Me., was burned re easily. The Post-offee building and con. siderable mail was destroyed.

7. March 30, 1883 The Middlebury Register and Addison County Journal Middlebury, VT
Article from The Middlebury Register and Addison County Journal, March 30, 1883

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Article Text

# South and West. GEORGE JONES, of Oglethorpe county, Ga., shot and killed his wife whom he had married when she was only eleven years old, and who had refused to live with him after he had assaulted her mother. A ST. PAUL (Minn.) dispatch says it is reported on trustworthy information that the government has decided to release Sitting Bull and his braves, 140 in number, from military custody. They will be taken on May 1 from Fort Randall, where they have been since they were removed from Fort Yates, a year ago, and placed upon the reservation at the Standing Rock agency. A NEW ORLEANS theatre, just before the close of the performance, was the scene of a panic resulting from an alarm of fire. The large audience made a rush for the roof, and after quiet was restored it was found that two men, two women and three children had been severely hurt. THE receiver of the Marion Trust company, of Indianapolis, Ind., reports that in one year nearly $200,000 has been taken in and $50,000 paid out by the concern. The victims of the swindle number about 5,000, and the average amount received from each was $40.

8. April 24, 1883 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, April 24, 1883

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Article Text

The G. A. R. Campfire. Following is the programme of the G. A. R. campfire entertainment to be held to-night: Music Insurance Qnartet Zither Music Misses Gehring and Steinheuser. Address Colonel Eli Lilly Music Insurance Quartet Recitation Mrs. M. W. Walker Zither Music Misses Gehring and Steinheuser. Jee Waters Speech Read by Captain George W. Johnson. Another of Mr. Collier's Victims. Judge Heller, receiver of the Marion Trust Company, has received a letter addressed to the company from Mrs. J. A. Osborn, of Gleason, Tenn., W ho wants information regarding a certificate she holds. She saye that she has paid to the company all the money she has, and makes a pathetic appeal for the return of at least a portion of it. saying she is "an old widow lady" and has no means of support.

9. April 2, 1898 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, April 2, 1898

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Article Text

RECEIVER'S SALE. Notice is hereby given that the Marion Trust Company, as receiver, will sell at public auction by order of the Marion County Circuit Court, on the 12th day of April, 1898, at 10 o'clock a. m. on the premises, the following described property, to wit: Situated in Marion county, State of Indiana, and being Lots 52, 53, 54. 55. 56, 57, 58, 59 and 60, in E. S. Alvord's subdivision of E. T. and S. K. Fletcher's addition to the city of Indianapolis, together with all buildings, machinery, engines, boilers and all property connected therewith, and certain personal property mentioned in said order, to which reference is hereby made for particular description, in the case of Indiana Bond Company vs. Thomas N. Bryan et al., in said court. Appraised value of property is $16,085.05. Terms of sale, one-half in cash and the residue within six months, with interest, and notes secured by mortgage on the property sold. Personal property to be sold for cash. THE MARION TRUST COMPANY, Receiver. Lewis C. Walker, Attorney.

10. April 9, 1898 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, April 9, 1898

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Article Text

LEGAL ADVERTISEMENTS. RECEIVER'S SALE. Notice is hereby given that the Marion Trust Company, as receiver, will sell at public auction by order of the Marion County Circuit Court, on the 12th day of April, 1898, at 10 o'clock a. m. on the premises, the following described property, to wit: Situated in Marion county, State of Indiana, and being Lots 52, 53, 54, 55, 56, 57, 58, 59 and 60, in E. S. Alvord's subdivision of E. T. and S. K. Fletcher's addition to the city of Indianapolis, together with all buildings, machinery, engines, boilers and all property connected therewith, and certain personal property mentioned in said order, to which reference is hereby made for particular description, in the case of Indiana Bond Company vs. Thomas N. Bryan et al., in said court. Appraised value of property is $16,085.05. Terms of sale, one-half in cash and the residue within six months, with interest, and notes secured by mortgage on the property sold. Personal property to be sold for cash. THE MARION TRUST COMPANY, Receiver. Lewis C. Walker, Attorney.