Article Text
In the January 1933, edition of the New Castle an editorial states that the new Indiana bank bill will do away with the bank receivership racket; that while the law will apply to state only, the situation just as bad national banks. The editorial ther states that these receiverships are usually given to some fellow with political pull and without regard to the man's ability to settle up failed bank and pay off the depositors, and that has been good picking in times past and still that both state and national banks. The only experience we have had Henry county thus far with bank receivership the case of the Lewisville National Receivers for national banks are appointed by the Comptroller of the Currency, Washington, Robert man, of Noblesville, Indiana, receiver the bank at Lewisville, was, at the time his appointment, in charge five other national banks, at Noblesville, Sheridan, Farmland, Warren and Wilkinson, and had liquidated one other national bank at Sheridan. In addition to his experience receiver for national banks several years he had viously been national bank exam iner for some years. His appoint ment as receiver at Lewisville line with the policy of the Comp. troller's office to have trained men handle as many national bank ceiverships as practicable the same time in the same district with view of reducing the expense receivership. Mr. Hartman been an employe the Comptroller's office during all his service receiver for tional banks and only reasonable proportion of his salary has been charged to the banks for which receiver The amount charged against the bank for services as receiver of that bank year. Mr. Hartman has made good record receiver, the banks he has liquidated, and liquidating, having paid the positors full or substantial centages. As understand the new diana bank law proposes to adopt virtually the same system employed the Comptroller's office and give the state banking department the power appoint receivers for failed state banks and authorize that partment to conduct the liquidation such banks rather than to continue with the present system whereby ceivers for state banks are appointed the state as the editor the states, the uation with reference to receiver- ships of national banks is bad that of state nothing would be gained by passing law change the Indiana system to conform to that of the national government. The conclusion is that receiverships of national banks are handled much efficiently and economically more that Indiana has decided to improve conditions in the receivership of her state banks by adopting the system employed in our national banks. year, with not nickel for household expense, who said he could not live less. The committee also found high class automobiles supplied by the state officials, and in insome stances the state supplied and paid for the hire of chauffeur. Such graft beyond reason, no less than highway robbery, and we trust our able and conscientious friend, elected to conserve the interests of the taxpayer, will knock out such barnacles and supplant them with honest and capable officials.
