Studabaker Bank - Bluffton, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 12, 1930
Location: Bluffton, Indiana (40.739, -85.172)

Metadata

Model: gpt-5-mini
Short Digest: 779b754d

Response Measures

None

Description

Article discusses the failure of the Studabaker State Bank at Bluffton and a court appeal arising from its liquidation/receivership. No run or depositor agitation is mentioned. OCR shows the bank name as 'Studabaker' which may be a misspelling (possible 'Studebaker'); retained 'Studabaker' but marked unsure. The event is a failure leading to receivership/liquidation (government action).

Events (2)

1. December 12, 1930 Other

Newspaper Excerpt: Depositors in approximately hundred banks In receivership or liquidation will be aided materially by decision of the Indiana Supreme court...decision made in an peal from the Wells Circuit court growing out the failure of the Studabaker State bank at Bluffton.
Source: newspapers

2. * Receivership

Newspaper Excerpt: failure of the Studabaker State bank at Bluffton.
Source: newspapers

Newspaper Articles (1)

1. December 12, 1930 The Indianapolis Star Indianapolis, IN

Article from The Indianapolis Star, December 12, 1930

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Article Text

RULING ON BANKS AIDS DEPOSITORS Stockholders Held Liable to "Double Assessment" by Supreme Court. Depositors in approximately hundred banks In receivership or liquidation will be aided materially by decision of the Indiana Supreme court according to Luther F. Symons, bank The held that stockholders of banks are liable for assessments in sums equal to the amount of their stock addition to the amount of their The method of upheld by the court is known as "double The decision made in an peal from the Wells Circuit court growing out the failure of the Studabaker State bank at Bluffton. Reverses Wells Court Ruling. Dona Gaiser, depositor, brought suit against Mrs. Caroline to require Mrs. Buck to pay 100 per cent on her stock. The action brought on behalf of all depositors. The Wells Circuit court sustained demurrer brought on grounds that the action should been filed by the bank's The court reversed the quoting Sec. Art. of the Indiana tion which "The in every bank or banking company shall be individually responsible to an and above their to their respective shares for all debts and liabilities of said bank or banking company section of the constitution creates definitely limited liability on the part of the appellee (Mrs. Buck the stockholder) for the benefit the it selfbeing manifest intention that should go into mediate effect and no ancillary legislation to the enjoyment of right given or the enforcement of the duty the ruling It added that is uniformly held that liability stockholders is executing. Provision Held Not Applicable. Attorneys for the bank had held that the constitutional provision applied only to banks of issue and circulation. whereas the Bluffton bank bank of discount and deposit. "It is true that at the time of the adoption of the constitution of 1851 the only banks required to be incorporated banks of issue and but from that fact can not logically be reasoned that this provision should not apply to the other banks that might by law later be to the set The was written by Judge Clarence Martin of Judges David Myers and Julius in the opinion Judges Benjamin Willoughby and Willard B. did not participate in the case.