5430. Bank of Redkey (Redkey, IN)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
August 10, 1923
Location
Redkey, Indiana (40.349, -85.150)

Metadata

Model
gpt-5-mini
Short Digest
1adbb3c5831e4517

Response Measures

None

Description

Article (1923-08-10) reports a depositor's run that closed the 'bank of Redkey' a few days before publication. A later article (1927-12-30) names a receiver of the Bank of Redkey, confirming the institution entered receivership and did not resume normal independent operations. OCR typos in the second article (e.g., 'Union Sate Bank') were noted but do not affect identification of the Bank of Redkey. The immediate trigger for the run is not specified in the text, so cause is coded as 'other'.

Events (3)
1. August 10, 1923 Run
Cause Details
Article only states a depositor's run closed the bank; no specific trigger (rumor, correspondent failure, etc.) is given.
Newspaper Excerpt
Second Redkey Bank Closes By Times Special REDKEY, Ind., Aug. 10.-A depositor's run has closed the Farmers State Bank. Several days ago the bank of Redkey closed under similar conditions.
Source
newspapers
2. August 10, 1923 Suspension
Cause Details
Closure/suspension is described as the consequence of the depositor run; no government action or voluntary liquidation indicated.
Newspaper Excerpt
Several days ago the bank of Redkey closed under similar conditions.
Source
newspapers
3. December 30, 1927 Receivership
Newspaper Excerpt
Wilfred Stratton, the Union Sate Bank, receiver of the Bank of Redkey, ... was named as receiver of the real estate in Jay County involved in the suit ... and he was given and placed under $1,000 property bond.
Source
newspapers

Newspaper Articles (2)
1. August 10, 1923 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, August 10, 1923

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Article Text

Second Redkey Bank Closes By Times Special REDKEY, Ind., Aug. 10.-A depositor's run has closed the Farmers State Bank. Several days ago the bank of Redkey closed under similar conditions. A meeting of the stockholders will be held Aug. 17 and it is thought a new bank to be known as the Union State Bank of Redkey will be opened as a result of the consolidation of the two.

2. December 30, 1927 Muncie Evening Press Muncie, IN
Article from Muncie Evening Press, December 30, 1927

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Article Text

JUDGMENT OF $7,000 GRANTED BY COURT Ind., Dec. ment of $7,762.32 has been awarded the Aetna Life Insurance Company against Lucinda Stratton. Wilfred Stratton, the Union Sate Bank, receiver of the Bank of Redkey, Wellington Doddridge, Henry W. Lonknecker, Ward Bell, Powell, Wolfe and John W. Holmes, receiver of the Farmers State Bank of Portland. The judgment was awarded the insurance company by Judge R. Wheat Circuit Court on its notes, mortgag and receivership suit. Frank of this city, was named as receiver of the real estate in Jay County involved in the suit possession of the and he was given and placed under $1,000 property bond. English is spoken by about 000,000 people.