5236. Laketon State Bank (Laketon, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 9, 1930
Location
Laketon, Indiana (40.974, -85.836)

Metadata

Model
gpt-5-mini
Short Digest
975b937c6638030d

Response Measures

None

Description

Articles report the Laketon State Bank suspended operations and a receiver was appointed; no run is mentioned. The suspension appears tied to insolvency/internal problems (directors chose to suspend rather than break in a new cashier) and the state banking department/receiver took charge. OCR artifacts in Article 1 (words run together) were corrected when interpreting the text. The 1934 article is a receiver's report showing the bank remained closed and in receivership.

Events (3)
1. April 9, 1930 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors voted to suspend operations rather than install a new cashier; court held bank was insolvent and state banking department took charge.
Newspaper Excerpt
following its closing last Wednesday when the directors of the bank voted to suspend operations rather than break in a new cashier.
Source
newspapers
2. April 14, 1930 Receivership
Newspaper Excerpt
Judge Frank O. Switzer appointed Samuel D. Henry, former president of the Laketon State Bank, as receiver for the bank, following its closing last Wednesday ... the bank is now in the hands of the state banking department.' Bond was fixed at $100,000 ... signed the bond, which the court approved.
Source
newspapers
3. March 13, 1934 Other
Newspaper Excerpt
S. D. Henry, receiver for the Laketon State bank, which closed about five years ago, today filed in circuit court the first report that ever has been filed in the receivership.
Source
newspapers

Newspaper Articles (3)
1. April 14, 1930 Chronicle Tribune Marion, IN
Article from Chronicle Tribune, April 14, 1930

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Article Text

SEEK LAKETON BANK RECEIVER ABASH, Ind., April 14.-Acting on a petition filed in circuit court Saturday afternoon, Judge Frank O. Switzer appointed Samuel D. Henry, former president of the Laketon State Bank, as receiver for the bank, following its closing last Wednesday when the directors of the bank voted to suspend operations rather than break in a new cashier. The court, following the usual custom, held that the bank was danof unless receiver insolvency ger immediately appointed, and that the bank is now in the hands of the state banking department.' Bond was fixed at $100,000, and H. W. Rager, George Frederick, W. C. Frey, E. Metzger, John Tryon and A. M. Robinson signed the bond, which the court approved.

2. January 9, 1934 Leader-Tribune Marion, IN
Article from Leader-Tribune, January 9, 1934

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Article Text

Seven Criminal Cases Are Set For Trial At Wabash Wabash, Ind., Jan 8.-Seven criminal cases were today set for trial in circuit court here during the next two weeks following of the January term of court this morning The first cases set are those against Earl Shively and Clarence Hale charged with degree burglary following alleged theft of quantity of wheat from farmer of near North Manchester. They were ar rested in September Shively has been out bond and Hale. unable to give bond. has been held in jail awaiting trial Judge Sumner Ken ner of Huntington is special judge, and the petit jury has called to hear the next Monday On Wednesday, Jan two state cases against Miss Lifey Latchem. former secretary of the Wabash County Loan and Trust Co., charged with banker's embezzlement, set for hearing on plea in abatement Judge Oren Dickey of Marion is spec ial judge these On the Monday Jan. 22, three cases are for first is against Abe Brodey, junk buy er of Indianapolis He is charged with stolen goods in con nection with the theft of $55 worth of brass journals from freight which had been placed on siding the Chicago and Erie railroad near Bolivar Seven persons who stole the journals are now serving prison terms The others are against Ev. erett Gidley held in jail for the past month for sex offense and Ernest French charged with petit larceny. Action taken in civil cases today called for answer by the defendants by next Monday suit of Jasper Marshall against Sherman White and others which enforcement stockholders liability is asked following failure of Laketon State Bank years ago. Answer by next Thursday to suit of Thomas Kelly against Steve Haw kins for collection on and ans wer by Monday in damage suit of Gale Kindlesparker against ceivers for Wabash Railroad Co were also ordered.

3. March 14, 1934 Leader-Tribune Marion, IN
Article from Leader-Tribune, March 14, 1934

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Article Text

HENRY FILES BANK REPORT Wabash, Ind., March 13.-S. D. Henry, receiver for the Laketon State bank, which closed about five years ago, today filed in circuit court the first report that ever has been filed in the receivership. It shows that on the day he took over the receivership he was chargeable with and since then he collected $1,887.32 judgment on bond of former cashier of the bank; $200 an old judgment against Dewey Brown; sold the bank build- and fixtures for $1,291.55 and interest in the sum of $2,total amount he making the chargeable with $95,763. During the past few years he has paid depositors dividends $53,824.62 and special deposits amountto $1,246.79. Expense of the receivership has amounted to $3,051.81 up to the present time and the receiver now has on hand $2,400.54 in cash and $35,239.24 worth of notes and accounts, much of which is regarded : uncollectable. When the bank closed its doors it had $65,232.77 as total deposits and the receiver has paid back $55,071.41 of this sum, leaving $10,161.36 still due depositors. In his report, Mr. Henry said he had sufficient notes on hand to raise part of the amount still due depositors "and believes it will be possible to collect and pay depositors in full before end of present year."