5321. Farmers Deposit Bank (Montpelier, IN)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
February 14, 1929
Location
Montpelier, Indiana (40.554, -85.277)

Metadata

Model
gpt-5-mini
Short Digest
0d3f483ff0b11145

Response Measures

None

Description

Contemporary articles report an $18,000 run on Farmers Deposit Bank (Montpelier) on Feb 14, 1929; directors suspended/failed to open the bank the same day amid a wider panic originating in Wells County. A receiver was appointed in March 1929 and the bank remained in receivership/liquidation thereafter.

Events (3)
1. February 14, 1929 Run
Cause
Local Banks
Cause Details
Withdrawals were induced by panic spreading from multiple Wells County bank failures (runs at Bluffton and other local banks).
Measures
Directors decided it would be unwise to open for business; bank did not open and suspended operations (invoked 60-day reorganization period mentioned for similar banks).
Newspaper Excerpt
the Farmers' Deposit bank of Montpelier ... closed this morning, due, it was said, to an $18,000 run yesterday.
Source
newspapers
2. February 14, 1929 Suspension
Cause
Local Banks
Cause Details
Directors suspended payments/failed to open as a precaution because of public panic caused by other local bank failures in Wells County.
Newspaper Excerpt
the Farmers Deposit bank of Montpelier ... failed to open for business. Both were closed as a precautionary measure by their directors after runs ... mounted to large figures.
Source
newspapers
3. March 6, 1929 Receivership
Newspaper Excerpt
On application of the state banking department, T. C. Peterson, Montpelier lawyer, was appointed receiver for the bank, by Judge Simmons ... (March 6 article).
Source
newspapers

Newspaper Articles (24)
1. February 14, 1929 The Messenger Madisonville, KY
Article from The Messenger, February 14, 1929

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BANKS CRASH AFTER RUNS TAKE FUNDS Six Indiana Institutions Topple and Receivers Are Sought. BLUFFTON, Ind., Feb. Union Savings Trust Company, the only remaining bank in Bluffton, closed this morning after $500,000 run yesterday. The Farmers Deposit Bank of Montpelier closed due, was said here, to $500,000 run yesterday. Four banks Wells county closed yesterday. President Fred of Tangeman, the Union Savings Trust Company, said his bank was solvent, and he hoped to reopen the institution after the usual sixty days for reorganization. Insolvent, Claim. Following the closing of four Wells county banks yesterday, Luther Symons, state bank commissioner, appeared in circuit court with two petitions asking that receivers be appointed for the Wells County State bank, of Bluffton, and the State Bank of Uniondale, two of the institutions that closed. The bank of Petroleum and the Liberty State bank also suspended operations. The petitions set out that examinations by the banking department the Well County State bank of Uniondale failing and insolvent Judge W. Hamilton set February 21 as the date for hearings on the petitions. The Wells bank County was capitalized at $100,000 and showdeposits of $1,250,000. The Union Savings and Trust company now is the only bank in Bluffton. The Studebaker bank failed in 1927, with deposits of $1,500,000. Receivers as yet have made no payments on deposits.

2. February 14, 1929 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, February 14, 1929

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TWO ADDED TO CLOSED BANK LIST IN STATE Includes Another Bluffton Institution and One at Montpelier. TOTAL STANDS AT SIX Receivership Plea of Examiners to Be Heard Feb. 21. By Times Special BLUFFTON, Ind., Feb. 14.-The number of banks closed as the result of the failure Wednesday of the Wells County State bank of Bluffton was increased to five today when the Union Savings and Trust Company of Bluffton and the Farmers' Deposit bank of Montpelier failed to open for business. Both were closed as a precautionary measure by their directors after runs, induced by the three previous bank failures, mounted to large figures. $68,000 Withdrawn A run of $50,000 was made on the Union institution Wednesday, according to Fred J. Pangeman, president, while Guy Bracken, president of the Montpelier bank, reported withdrawals of $18,000. Both officials reported that their institutions were solvent, but said that after a conference with Thomas D. Barr, assistant state bank commissioner, they decided it would be unwise to open in view of the attitude of the public. The state banking department has taken charge of all five institutions. Receivers Asked Hearings on petitions asking appointment of receivers for two of the five banks have been set here for Feb. 21, by Circuit Judge A. W. Hamilton. Receivers are asked for the Wells County State bank of Uniondale. The others closed Wednesday are the Bank of Petroleum and the Liberty Center State bank. Investigation of the banks is being made by seven state examiners, assigned by Luther F. Symons, state bank commissioner and working under direction of Barr. Symons said he was unable as yet to say whether deposits of $1,250,000 in the bank at Bluffton are safe. He indicated there is a possibility that the bank may be reorganized.

3. February 14, 1929 Evening Star Washington, DC
Article from Evening Star, February 14, 1929

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$50,000 RUN CAUSES BANK TO CLOSE DOORS Bluffton, Ind., Officers Hope to Effect Reorganization Within Sixty Days. By the Associated Press. BLUFFTON, Ind., February 14.-The Union Savings & Trust Co., the only remaining bank in Bluffton, closed its doors this morning after a $50,000 run yesterday. The Farmers' Deposit Bank of Montpelier, on the Wells-Blackford County line, with deposits of $500,000, also closed this morning, due, it was said, to an $18,000 run yesterday. Four banks in Wells County closed yesterday. Fred J. Tangeman, president of the Union Savings & Trust Co., and Thomas Barr, State bank examiner, said the bank was solvent. Officers said they expected to take advantage of the 60 days permitted by law to effect a reorganization and then hoped to reopen. The bank had deposits of approximately $800,000. Yesterday the Wells County Bank, with deposits of $1,250,000, was closed. A few hours later the State Bank of Uniondale closed. Petitions were filed in Circuit Court here asking for receivers for both institutions, alleging they were "in a failing and insolvent condition." The Bank of Petroleum and the Liberty Center State Bank also closed yesterday. The three smaller banks cleared through the Wells County bank.

4. February 14, 1929 Argus-Leader Sioux Falls, SD
Article from Argus-Leader, February 14, 1929

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Run Forces Last Bank in Indiana City to Close Up Bluffton, Ind., Feb. Union Savings and company, the remaining bank in Bluffton, closed its doors this morning after $50,000 run The Farmers Deposit bank of Montpelier, on the WellsBlackford county with deposits $500,000 closed morning, due was an run Four banks in Wells county closed yesterday.

5. February 14, 1929 The Times Hammond, IN
Article from The Times, February 14, 1929

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ANOTHER BANK CLOSES MONTPELIER, Ind., The panic that sweeping Wells county in which five banks have been closed in days, spread today to Blackford county and caused the closing here the Farmers Deposit bank, $610,000 institution. Montpelier is about 20 miles south of Bluffton. Officers of the closed bank said the decision suspend reached run on the bank. The First bank of this city, other banking institunotice its doors that 60 days notice will be required for the withdrawal of deposits and 30 days notice on certificates of deposits. "Everybody seems to have lost his sense Thomas F. assistant state commissioner, who has hurried to Bluffton in person, declared upon arriving there looking over the situation. most of the banks without justification."

6. February 14, 1929 The Times Hammond, IN
Article from The Times, February 14, 1929

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ANOTHER BANK CLOSES MONTPELIER, Ind., The Wells county which five banks have been spread day to Blackford caused here of the Farmers Deposit bank, $610,000 institution. Montpelier 20 miles south of Bluffton. Officers of the closed bank said the decision to suspend reached after run on the bank. The First National bank of this city, the only other banking institution here, immediately posted notice its doors advising that 60 days notice will be required for the withdrawal of deposits and days notice on certificates seems to lost his of Thomas Barr, state missioner, who has hurried to Bluffton in arriving there looking over the the situation. banks have been without justification."

7. February 14, 1929 The Times Hammond, IN
Article from The Times, February 14, 1929

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ANOTHER BANK CLOSES [INTERNATIONAL NEWS SERVICE] MONTPELIER, Ind., Feb. The panic that is sweeping Wells county in which five banks have two days, spread today to caused the closing here the Farmers Deposit bank, institution. Montpelier about 20 miles south of Bluffton. Officers of the closed bank said the decision to suspend reached after run the bank. The First National bank of this city, the only other banking institution here, immediately posted notice its doors that 60 notice will required for the withdrawal of savings deposits and 30 days notice on certificates of deposits. "Everybody seems to have lost his sense proportion," Thomas Barr, comhas hurried to Bluffton in person, declared arriving looking the situation. of the banks have been without justification."

8. February 14, 1929 The Evening Sun Baltimore, MD
Article from The Evening Sun, February 14, 1929

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$50,000 Run Closes Another Indiana Bank Only Remaining One In Bluffton Shuts Doors-Four In Wells County Closed Yesterday Union Savings and Trust Company, the only remaining bank in Bluffton. closed its doors this morning after $50,000 run yesterday. The Farmers Deposit Bank. Montpelier, on the Wells and Black ford counties line with deposits of $500,000. also closed this morning. due. it was said. to an $18,000 run yesterday. Four banks in Wells county closed yesterday. Fred J. Tangeman, president of the Union Savings and Trust Company, and Thomas Barr, State Bank Examiner, said the bank was solvent. The officers expect to reorganize. Yesterday the Wells County Bank, with deposits of $1,250,000 closed. A few hours later the State Bank of Uniondale closed. Petitions

9. February 14, 1929 Evening star Washington, DC
Article from Evening star, February 14, 1929

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RUN CAUSES BANK TO CLOSE DOORS Bluffton, Ind., Officers Hope to Effect Reorganization Within Sixty Days. By Ind., February Union Savings Trust the only bank Bluffton, closed its doors morning after a $50,000 run yesterday. Farmers' Deposit Bank of Montpelier, Wells-Blackford County line, with deposits of $500,000, closed this morning, due, was said, to an $18,000 run yesterday. Four banks in Wells County closed yesterday. Fred Tangeman, president of the Union Trust Thomas Barr, State bank examiner, the bank was solvent. Officers said they expected to take advantage the by law to and to deposits of apYesterday the Wells County Bank, with deposits few hours State Bank filed Circuit Court for for alleging they "in failing insolvent condition. The Bank of Petroleum and the Liberty Center State Bank three cleared through the Wells County bank.

10. February 14, 1929 The Times-Mail Bedford, IN
Article from The Times-Mail, February 14, 1929

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RETURN EPIDEMIC Soon to be Arraigned in Circuit Court Grand Larceny Charge Sheriff Tyree arrived home this morning over the Monon on train from Detroit, having in custody William Covey who wanted here on charge of grand larceny. Covey was arrested in Detroit Monday on Lawrence county warrant and Sheriff ree left to after him Tuesday ternoon. will probably be arraignbefore Judge James Cox in the Lawrence circuit court late today Covey is alleged to be member of the quartet which entered and robbed Homer George Store at Peerless October Lawrence Hillenburg and Glenn Kinder, two of the members of the robber gang now serving penfarm sentences inflicted by Judge Cox after they pleaded guilty grand larceny charges during the Determ the Lawrence circuit court and Orlando Cazee, the fourth given an indeterminate reformatory sentence of from to 10 morning when he pleaded guilty to grand larceny charge. Cazee was arrested by local police early Tuesday morning while hiding in the home of here. Both Cazee and Covhad been fugitives from justice for three months. STATE BANKING CIRCLES AS SEVEN INSTITUTIONS CLOSE DOORS DAY OFFICIALS Declare Panics Were Without Justification and Attempt to Halt Mad Rushes INDIANAPOLIS, Ind., Feb. An epidemic of bank crashes which reached total of seven in the last hours, today rocked Indiana banking circles. Six of the bank suspensions were due to mad panic that started at Bluffton in Wells county. The seventh bank closing was blamed on an leged $100,000 deflation by cashier. With the mad frenzy spreading from Wells county to adjoining ties, every possible effort was made by state banking officials and by the bankers in the affected districts allay the public fear. Community mass meetings were beresorted to in some towns to list citizens to help their banks weather the crisis. "Everybody seems to have lost his sense of proportion," Thomas Barr, assistant state banking commissionwho was hurried to Bluffton in person, declared upon arriving there and looking over the situation. runs on most of the banks have been without Barr refused to comment on the possible further spread of the panic that has paralyzed business in Wells county. Virtually the entire force of the state banking department musterinto the field today to help endangered banks to stem the frenzy that has been spreading from Bluffton all directions. Meanwhile all business lay paralyzin Wells county. The banks still operating were demanding 30 and day notices on withdrawals. The panic at Bluffton had its confidence banking institutions resulting from heavy losses incurred in the $1,400,000 failure there on March 1927, of the Studebaker state bank, one of the oldest banks in Indiana. Ralph Etudebaker Todd, 45, president of this bank, shot and killed himself after the bank was closed. A run on the Wells county state bank Bluffton forced that bank which had deposits of $1,250,000 suspend yesterday morning. This was followed by runs on the Union Savings & Trust Company at Bluffton and on other banks in the counBefore the day was four other banks had shut down, one, the Poneto State Bank, closing for only half day and reopening this morning. When the Union Savings & Trust Company of Bluffton failed to open its doors today, the panic spread from Wells county to Blackford county and forced the farmers deposit bank Montpelier close. Meanwhile the board of directors of the Citizens National Bank at Bartholomew county, ordered the bank closed today after Utt, federal bank examiner found an leged $100,000 shortage in the counts of Cashier Stewart. The seven banks closed in Indiana since yesterday morning and their deposits follow: Well County State Bank of Bluffton, $1,250,000. Union Savings Trust Company Bluffton, $400,000. Uniondale State Bank of Uniondale, $230,000. Liberty Center State Bank of Center, Bank of Petroleum at Petroleum, $155,000. Farmers Deposit Bank of Montpelfier, $610,000. Citizens National Bank of Hope, $400,000. INDIANAPOLIS, Ind., Feb. In commenting today upon the closing of seven Indiana banks since yesterday morning with total deposits of Luther Symmons, state banking commissioner, said: general banking situation Indiana is hopleful and should not be affected by local conditions in Wells county."

11. February 14, 1929 Anderson Daily Bulletin Anderson, IN
Article from Anderson Daily Bulletin, February 14, 1929

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BLUFFTONBANK CLOSES TODAY UNION SAVINGS AND COMPANY CLOSES FOLLOWING $50,000 RUN Montpelier Bank Also Is Closed FOUR BANKS IN WELLS COUNTY SHUT THEIR DOORS YESTERDAY Depositors In Banks Of Wells And Blackford Counties Become Alarmed Over Failures And Withdraw Funds Bluffton, Ind., Union Savings and Trust Company. the only remaining bank in Bluffton. closed its doors this morning after $50,000 run yesterday. The Farmers Deposit Bank Montpeller, on the county line, also closed this morning. due, was said, to an $18,000 run yesterday. Four banks in Wells county closed yesterday Fred Tangeman, president of the and Trust and Thomas Barr, state bank examsaid closing was due to the run on the bank and that en tirely solvent. Officers and direct ors said they expected to take advantage of the sixty days permitted by effect and then hoped reopen. The Union Savings Trust deposits of approximately $800,000. STARTED YESTERDAY Yesterday the Wells County Bank. with deposits $1,250,000. clos few hours later. the State Bank closed Petitions the circuit court asking for for both institutions. alleging they failcondition. The Bank of Petroleum Liberty Center State Bank also closThe three smaller banks cleared through the Bank Guy Bracken president of the Farmers Deposit Bank Montpeller had deposits of approximately $500,000 The state banks Poneto and Craigville and Farmers State Bank Ossian, other banks the ville State Bank and the Markle State Bank, on the county line, also

12. February 15, 1929 The Richmond Item Richmond, IN
Article from The Richmond Item, February 15, 1929

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SIX BANKS CLOSED IN WELLS COUNTY (By The Associated Press BLUFFTO Ind., Feb. 14.-The closing of the Union Savings and Trust of Bluffton and the failure of the Farmers' Deposit bank of Montpelier to open this morning, made total of six banks closed in Wells county within two days. A mass meeting of citizens has been called to enlist aid in opening a bank here carry on business. $50,000 run on the Union Savings and Trust company was said to be responsible for the closing of that institution, and an $18,000 run on the Montpelier bank prevented its opening today. Fred Tangeman, president of the Union bank, declared that the bank was entirely solvent and that directors hoped to reopen the institution in due time without loss to depositors or stockholders, The bank had deposits of approximately The Farmers Deposit bank had deposits of approximately $500,000. Guy Bracken is president. The Wells county bank. with deposits of $1 closed yesterday morning and a few hours later the state bank of Uniondale closed. Petitions for filed in the circuit court here late yesterday for both banks The bank of Petroleum and the Liberty Center state bank also closed yesterday Luther F. Symons, state bank at Indianapolis today, declared that the stability of the banking situation in the state should not be affected by the various banks in Wells counHe said the situation here had been brought about by the continual agitation of banking problems grow. ing out of the Studebaker bank failure two years ago. He said was his opinion that most, if not all of the banks would come out of their present difficulty with very little. If any loss to the CONSTABLE SHOT Herman Kelm. 52, special constable, probably fatally wounded late this afternoon when he attempted to serve warrant on Orra Hart Hart shot the constable three times, the bullets penetrating his abdomen back Kelm former patrolman on the Lafayette police force.

13. February 15, 1929 The Star Press Muncie, IN
Article from The Star Press, February 15, 1929

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BLUFFTON NOW WITHOUT BANK Remaining Institution Closes Opened. Bluffton. Ind., Feb. 14 closing of the Union Savings Trust Company, of Bluffton, and the failure of the Farmers Deposit Bank. of Montpelier, to open this morning, made total of six banks closed in Wells County within two days. mass meeting of citizens has A been called to enlist aid in opening bank carry on business. Run Closes Montpelier Bank. on Union SavTrust Company was responsible the closing that institution, the Montpelier bank prevented its opening Fred Tangeman, of the Union Bank, that the bank entirely solvent that direcreopen the institution time without depositors The bank had posits The Deposit Bank had posits $500,000. Guy Bracken president. Stability State Banks Safe. The Wells County bank, with posits of closed and few hours later the State Uniondale closed. titions for filed in the Circuit Court here late Bank Petroleum and the Liberty Center State bank closed Luther Symons, state bank commissioner, statement issued Indianapolis today, declared that the stability the banking situation state should not affected various banks Wells County. here had been brought by continual agitation banking growing years said his opinion most, not the banks come out their with little, any, to the depositors. Mass Meeting Friday Night. were of members local service clubs. mass meeting the large auditorium building here Friday night, purpose enlisting the public adopting attitude of confidence toward solvent banks Continued Sixth Page.

14. February 15, 1929 The Hustler Madisonville, KY
Article from The Hustler, February 15, 1929

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BANKS CRASH AFTER RUNS TAKE FUNDS BLUFFTON, Ind., Feb. Union Savings Trust Company, only remaining bank in Bluffton, closed morning after $500,000 run yesterday. The Farmers Deposit Bank of Montpelier also closed today, due, was said here, to a $500,000 run yesterday. Four banks in Wells county closed yesterday. President Fred Tangeman, of the Union Savings Trust Company, said his bank was solvent, and he hoped to reopen the institution after the usual sixty days for reorganization. Following the closing of four Wells county banks yesterday, Luther Symons, state bank commissioner, appeared in circuit court with petitions asking that receivers be appointed for the Wells County State bank, of Bluffton, and the Bank Uniondale, two of the that closed. bank of Petroleum and the Liberty State bank also suspended operations. The petitions set out that examinations by the banking department showed the Well County State bank Uniondale failing and insolvent condition." Judge Hamilton set February the date for hearings the petitions. The Wells County bank was capitalized at $100,000 and showdeposits of $1,250,000. The Union Savings Trust company the only bank in Bluffton. The Studebaker bank failed in 1927, with deposits of Receivers as yet have made no payments on deposits.

15. February 15, 1929 Evansville Courier and Press Evansville, IN
Article from Evansville Courier and Press, February 15, 1929

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BANKS FORCED TO IN WELLS COUNTY Institutions Unable to Meet Heavy Runs: Hope Cashier Held for Embezzlement BLUFFTON, Feb. closing the Union Savings Trust of Bluffton and the failure of the Farmers' Deposit bank Montpelier to open this made total closed Wells county within two meeting of citizens has mass called aid bank here to carry on $50,000 run the Union Savand Trust company responsible for the closing that institution. and the Montpelier bank its opening SOLVENT. CLAIM Tangeman, president of the Union bank, declared that the bank entirely solvent and that hoped to reopen the institudue time without to deThe bank positors of approximately 81.deposits The Farmers' Deposit bank had Guy president Wells County with de250,000 closed yesterday on Page Three)

16. March 6, 1929 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, March 6, 1929

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JUDGE MAY FACE SUIT Montpelier Bank Attorneys Charge Venue Change Denied. B" Times Special HARTFORD CITY, Ind., March 6-Denial of a change of venue by Judge Victor Simmons of Blackford circuit court may result in a mandamus suit being filed against him in the Indiana supreme court by attorneys for the closed Farmers Deposit Bank of Montpelier. On application of the state banking department, T. C. Peterson, Montpelier lawyer, was appointed receiver for the bank, by Judge Simmons, who refused a venue change asked by the bank's counsel, who opposed receivership.

17. March 11, 1929 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, March 11, 1929

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JUDGE ARGUES RIGHT TO DENY VENUE ChA NGE Blackford County Jurist Defends Action Before Supreme Court. Merit of his own judicial opinion was argued before the Indiana supreme court by Judge Victor Simmons, 35, of the circuit court of Blackford county, today, when he demurred to an application for a writ of mandate from the court compelling him to grant the Farmers' Deposit Bank of Montpelier a change in a pending receivership proceeding. Judge Simmons was aided in his arguments by his father and law partner, L. B. Simmons, 65. At noon recess of the court, the judge, through his father, pulied a surprise by alleging that A. G. Emshwiller, Hartford City attorney, did not represent the directors of the bank, but did represent Guy R. Bracken, president of the institution, who is free on $10,000 bond pending trial of an embezzlement charge. Brackin was in court. Reproof for introduction of the request for dismissal of the action on the ground that Emshwiller was not the bank's attorney came from Chief Justice Clarence R. Martin. "It's rather late in the day to introduce this. Why didn't you present it when you first came into court?" Justice Martin asked. In the argument Judge Simmons made before the court he explained his reason for not granting a venue change as discretionary and charged that all arguments presented by Emshwiller in demanding a writ of mandate were not true. He declared the bank examiner told him the depository was insolvent. Action on the demurrer and motion for dismissal of the application for a writ will be ruled upon by the court when it reconvenes late today.

18. March 12, 1929 The Indianapolis Star Indianapolis, IN
Article from The Indianapolis Star, March 12, 1929

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WRIT STOPS ACTION OF BANK RECEIVER The Indiana Supreme court yester day took hand in receivership proceedings against the Farmers' Deposit bank of Montpelier and issued temporary writ prohibition preventing the receiver from discharg his duties. The writ was obtained by officials of the bank who objected to appoint ment Thomas C. Peterson as because he for a attorney rival financial institution. Acts Against Judge The writ also prevented Judge Vic. tor H. Simmons of the Blackford Circuit court. who appointed Peterson, from further action in the case except to rescind his previous actions and grant change of venue from Blackford Peterson appointed by Judge Simmons March on petition for ceivership filed by Luther Symons, state bank commissioner. At time the bank officials sought change of which was denied by Judge Hearing March 11. Judge Simmons appeared before the court at hearing conducted yesterday justify his The date for final hearing of the petition. The Montpelier located short distance from the county line Recently there considerable disturbance banking in Wells and several banks closed. Most them, however, have been reopened new banks organized to replace closed institutions. According to bank department. the situation in Wells county is practically cleared

19. May 3, 1929 Chronicle Tribune Marion, IN
Article from Chronicle Tribune, May 3, 1929

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MONTPELIER BANK APPEAL IS SIFTED Ind., May Or, the ground that lacked juris(ction the case the Indiana Su. preme Court today transferred to the state the appeal the Farmers Deposit Bank Montpelier from the CirJudge of the Blackford Circuit court naming receivfor the Montpelier Bank. This bank also has mandamus action pending before the Supreme Court an attempt to force Judge Simmons to grant the bank change of venue in the receivership suit which was brought by State BankCommissioner Luther Symons The Montpelier bank was forced to close its doors Feb. 14 along with five other bank suspensions in Wells county when that county and Blackford county were swept by mad panic. LIBERTY BOND CLOSE NEW YORK. May Liberty bond Liberty $98.3; first fourth $99.30; treasury 3% 1940treasury of 1943-47 $98; $102.6; treasury $105.2; treasury 4½'s $109.6.

20. May 9, 1929 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, May 9, 1929

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DEFUNCT MONTPELIER BANK WINS APPEAL Receivership Decision of Lower Court Reversed. Appellate court today reversed action of the Blackford's circuit court in appointing a receiver for the Farmers' Deposit Bank of Montpelier. Last February Judge Victor H. Simmons of Blackford's circuit court. appointed Thomas Peterson, atorney, receiver for the defunct bank on the request of Luther F. Symons, state bank examiner. Recently the case was appealed to the higher court on the grounds a change of venue was denied and Peterson was atorney for a competitive bank at Montpelier. The higher court today in reversing the decision held such an action was mandatory under the state banking laws.

21. June 10, 1929 Muncie Evening Press Muncie, IN
Article from Muncie Evening Press, June 10, 1929

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KUNKEL NAMED BANK RECEIVER Wells County Judge Refuses Recommendations. (Special to The Press.) June liam Kunkel Bluffton named Monday by Judge Hamilton of the circuit court, as receiver for the Farmers Deposit Bank of The receiver's bond fixed $50,000 August designated the last day for the filing of creditors' claims. Mr. Kunkel is also receiver for the Bank of Poneto, closed since 1925. Stockholders and citizens Montpelier two Stewart Ira but Judge Hamilton refused to either. He held of Stewwould be unwise since stockholder. Nelson's was jected because he was resident of Montpelier.

22. August 6, 1929 The Star Press Muncie, IN
Article from The Star Press, August 6, 1929

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FRANKTON Frankton, Ind., Aug. Jones, son of Harrison Jones, residing on farm southeast of Frankton, confined to his bed by injuries sustained when kicked him in the abdomen. Miss Violet Braddick has accepted position clerk in department store Gary Mr. and Mrs. Evert of Indianapolis, and Mr. and Mrs. Riley Etchison and Mrs. Della Carmichael, of Muncie, were Sunday guests of Mr. and Mrs. William Fesler and family Miss Martha and Miss Alice Moore the the Star this evening the home Miss Miss Bernice Fesler. has been for the past week. The Bridge Club will meet home of Mrs. Raymond King Thursday evening Mr. and Mrs. Harold Rapp. of Detroit. are visiting Mr. and Mrs. Frank east of town. Miss Caroline Jones, who has spent weeks with her sister, Mrs. Leon and family, at returned her home here yesterday Emily Williams, who has been for the past week the home of Mrs. Charles Barracks, slightly Mrs. Monroe Miller. of Anderson former resident Frankton, is here visiting old James Holland. of Mr. and Mrs. Richard Holland. who is ill with typhoid fever, is reported better. Mr. and Mrs. Leach and the latter's mother. Mrs. Krater. have as their guests and Mrs. Lewis, Eureka, III., Mr. Lewis being brother Mrs. Krater Lowell Wiley of spending two weeks with William BANK RECEIVER LISTS ASSETS About Thirty Cents on Dollar to Montpelier Claimants. Bluffton, Ind., Aug. 5.-William A. Kunkel, Jr., receiver for the Farmers Deposit Bank of Montpelier, today filed with the court, Judge A. W. Hamilton, an inventory and appraisal of the assets of the bank, and accompanied the appraisal with communication to the court in which he estimates that in the final liquidation of the assets the common claimants, including depositors, probably will receive 30 cents the dollar. "which he says, of course subject to alteration either because of competent collection or increase of contingent liabilities.' Figures May Be Altered. In the inventory the lists face value of an value of which would show gross value dollar of per cent, but adds that these figures must be altered as follows: Estimate of preferred claims, to which must added the costs of the receivership, such taxes. interest payments, insurance. services and various other expenses such trust. The interest collected in this receivership cannot be large from the fact that the bank notes in many cases made from instead of from The assets of any trust and the liabilities constantly increase, for in this particular case has not yet been decided whether the bank may liable for any unpaid balance the bond issue or whether may be liable endorsed notes. all which would increase the liabilities. thereby reducing the amount which will paid per dollar claims of depositors and creditors. Married at Ft. Wayne. Announcement was made here today of the marriage of Miss Mildred Milholland. daughter of Mr. Mrs. K. Milholland, West Washington street, this city Jack son Mr. and Mrs. Wallace, of The wedding took place Fort Wayne Saturday August with the Rev. Mr. the Lutheran Church, Fort Wayne, The young couple will reside West Washington street, Fort on Wayne. Set May Rum Charge Trial. Richard May, who was arrested last night by Night Policeman Charles Hixon and was lodged in the county jail liquor law violation charge. plead not guilty in City Court this morning His trial was set for o'clock Wednesday morning. May is awaiting trial in Circuit Court on charge alleged liquor law offense recently at Murray, northwest Bluffton. Fall Proves Fatal to Mrs. Bender. Mrs. William Bender. 74. died o'clock this morning the home of Mr. and Mrs. Orve Davis of general infirmities, aggravated fall two months ago when she tripped over rug. breaking hip. Funeral be held the Markle M. E. Church Tuesday and burial will be at Huntington, Bluffton Short Notes. Mrs. Mary Ann Pottee. 87. of Ossian. suffered broken hip in fall her home at Ossian. On account condition serious. The Wells County board of comtoday contract with Allen County for the care County tubercular patients the Irene Byron sanitorium. The county commissioners today deeded the Snow Cemetery, in ChesTownship, the civil township, in order that the township may mainthe burial ground. Donald Redding, Jr., of Fort Wayne, suffered broken arm Sunday when fell from fence the William Clark of Bluffton He was there with his parents the time the accident. Mrs. Caspar Holloway, of Nottingham Township, suffering from broken arm. She received the injury fall her farm home Two drainage petitions pending in the Wells County commissioners court were continued today The Shady drain in Lancaster tinued until August 15, and Eichhorn petition in Union continued until September on file against both ditches. Sheriff McClain went to Newcastle today after Martin Keesling against whom there pending in Circuit Court here charges of failure provide for his family at Keystone.

23. June 24, 1930 The Star Press Muncie, IN
Article from The Star Press, June 24, 1930

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BANK RECEIVER ENTERS REPORT Montpelier Institution's Assets Total $218,130. Bluffton, Ind., June current report of William A. Kunkel, Jr., receiver for the Farmers' Deposit Bank of Montpelfer, has been filed Circuit Court approved Judge A. W. Hamilton. The report shows that the receiver was chargeable originally with assets totalling Credits for $162.are claimed. with balance of assets chargeable of The credits $58,886.39 paid to in two distributions of 10 per cent each; preferred claims paid; expenses of ceiver, fees of $3,450 for the receiver and similar sum for the receiver's attorneys: assets compromised and items of set-offs, real estate sales below listed values, and below listed values. Remaining Assets Itemized. Balance of assets with which receiver chargable follows Cash on hand. due from banks. loans and discounts, stocks and bonds, $3,550; bank building. and fixtures. real estate, overdraft cash items. $405 Grand total assets chargeable, Mrs. Elle Cloud. 68, died yesterday morning home near McNatts. Jackson Township. of organic heart trouble Surviving are the husband, Silas Cloud. and eight children: Clarence Cloud, Mrs. Marie Ramseyer and Mrs Mary Jones, Orville Cloud. Missouri Cloud, ton Cloud. all of Bluffton. Funeral services will be held at Union Chapel, McNatts. o'clock Tuesday afternoon. Burial will be in Jones CemIval Young. local butcher. escaped serious injury last night his car left the highway at the County in the ditch. The machine was badly damaged. Aged Resident Succumbs. Cornelius Brinneman 81. died at o'clock afternoon the home of his daughter. Mrs. Bessie Johnson. 107 North Scott street. after an illness of six months. Surviving following children Charles Brinneman Toledo: Bertha May Brinneman and Daniel Brinneman: Bessie Johnson. Bluffton: Mary Conneau. Rosa Stagg. Cincinnati Potts, Fort Wayne: Samuel Brinneman. Grove. Mo. and Emma Myers. Funeral services will held at o'clock Thursday at the Keystone Friends Church and burial will be made Keystone Cemetery. Mrs. Mary Counterman. of West Wiley avenue. this city. today announced the marriage of her daughBesdalora. Gerwig son of and Libwhich took place September 1929. Cynthiana, Ky The bride and bridegroom graduates of Bluffton High School The couple will live at Liberty Center where the groom. Mr. Gerwig. will be associated with his father in the grocery business. Thief Overlooks Money. thief who forced an entrance into DeBolt's barber shop at Ossian Saturday night. stole nine razors. three pairs scissors and two pairs ing the shop receipts for the day, was Mrs. Mary Dailey local probation officer. reported upon her today from meeting that sneak thief had entered the store room in which she keeps supplies for the poor and had stolen about two dozen pairs men's hosiery undetermined origin in the garage Olive Markley Lancasand Williams o'clock last night badly damaged his ma chine well the building Frank Beckler of this city today received word of the death of aunt Mrs. Mattie Louis Cory. Angeles Cal former resident this county. Death followed an illness of several weeks HOW THE WAR STARTED after meal

24. June 23, 1932 The Star Press Muncie, IN
Article from The Star Press, June 23, 1932

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BLUFFTON MAN BANK RECEIVER W. A. Kunkel, Jr., to Assist in Ft. Wayne Job. Bluffton, Ind., June 22.-William A. Kunkel, Jr., of this city, was appointed today by Judge Clarence R. McNabb, of the Allen Circuit Court as one of the co-receivers to co-operate with Edward F. Scheumann, Fort Wayne banker, in handling the receivership of the Citizens Trust Company, Fort Wayne. He is well qualified legally, having graduated from Indiana University and from the Harvard law school. He is serving at present as receiver for the Farmers' Deposit Bank of Montpelier, and he served also as receiver the Bank of Poneto, a private bank that was closed some years ago and which paid depositors in full. He has extensive business interests and also is owner of farm property in this county. Wells County Band Organized. A Wells County band-orchestra was organized here last night with thirtyfive members enrolled and the lists still are open for further enrollments at the second rehearsal Friday night. Robert Klopfenstein was elected president, Miss Virginia Bell Grice, vicepresident, and Miss Alice Miller secretary-treasurer Rex Arlington, of Huntington, is the director of the organization. Weekly concerts here on Tuesday nights are planned. Relatives at Markle received word of the death of Percy Lee Crain, 28, which occurred Saturday at Atlanta. Ga., after an illness of four years of cancer The body was taken to the home of the mother, Mrs. Emma L. Waltz, of Fort Wayne, and funeral services were held this afternoon at Butler. Mrs. Crain, the widow, formerly was Miss Marie Marshal, of Markle. Mrs. Lela Farling Dies. Mrs. Lela Grace Farling, 32, wife of Samuel Farling, local grocery manager, died last night at the Irene Byron Hospital, Fort Wayne, following an illness of two years of tuberculosis. She had been a resident of the hospital fifteen months. She was born in Wells County daughter of Mr. and Mrs. Nute. Her marriage to Samuel Farling took place in Bluffton December 11, 1924. Surviving are the husband, two children, Mary Ann and Robert M.: the parents, brother, John B. Nute, and sister, Mrs. Ward Sittler. She was a member of the Presbyterian Church and the Pythian Sisters Lodge. Funeral services will be held at 2:30 o'clock Thursday afternoon at the home of the parents, 409 East Washington street here, in charge of the Rev. M. Elliott, of the Presbyterian Church, and burial will be in the Elm Grove Cemetery. Miss Bessie Ellingham, 52, bookkeeper in the office of Grove and Baxter, this city, died at o'clock this afternoon at the county hospital here. She underwent major operation Monday are a brother, Ottis, in the West. and two sisters, Mrs. Dean Ferguson, superintendent of the county hospital here. and Mrs. Maude Douglas, Fort Wayne The contract for the construction of highway department garage in Bluffton was awarded to Anderson, Centerville, on bid of $8,998, by the state commission today at Indianapolis.