5486. Davis Trust Company (Brazil, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
March 10, 1931
Location
Brazil, Indiana (39.524, -87.125)

Metadata

Model
gpt-5-mini
Short Digest
413da9b4

Response Measures

None

Description

The Davis Trust Company in Brazil, IN closed/suspended operations on March 10, 1931 due to frozen assets (bank-specific adverse information). A receiver was appointed March 18 and the receiver issued dividends in April, indicating the bank remained closed and in receivership rather than reopening. No run is described in the articles.

Events (3)
1. March 10, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Frozen assets caused the bank to close its doors for the present; bank insolvency/liquidity problem cited.
Newspaper Excerpt
For the first time in more than 50 years a bank in this city failed to open its doors today. It was the Davis Trust Company with $275,000 in deposits. Daniel W Davis president of the institution, said that frozen assets caused the bank to close its doors for the present.
Source
newspapers
2. March 18, 1931 Receivership
Newspaper Excerpt
James A. Raper was appointed receiver of the Davis Trust Company by Judge T. W. Hutchinson of Clay circuit court. Raper will begin his duties Thursday.
Source
newspapers
3. April 18, 1931 Other
Newspaper Excerpt
FIRST DIVIDEND FOR 25 PER CENT ... Judge Hutchison ... issued an order directing James Raper, receiver for the Davis Trust company, to issue the first dividend for the depositors of the defunct bank. The first dividend will be for 25 per cent and Receiver Raper said that about $70,000 will be paid out in meeting this.
Source
newspapers

Newspaper Articles (6)
1. March 10, 1931 The Daily Reporter Greenfield, IN
Article from The Daily Reporter, March 10, 1931

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Article Text

BRAZIL BANK CLOSES: STOCKHOLDERS WEALTHY BRAZIL Ind. March 10 (INS) For the first time in more than 50 years a bank in this city failed to open its doors today It was the Davis Trust Company with $275,000 in deposits. Daniel W Davis president of the institution. said that frozen assets caused the bank to close its doors for the present It is expected the bank will be reorganized Commenting on the bank's suspension of business. Luther D. Symons. state banking commissioner. said in Indianapolis Stockholders of this institution are wealthy men and the closing of the bank will entail no danger of loss to the depositors." This is the first bank in Brazil to close its doors since the failure of the Brighton and Teter Bank back in 1880.

2. March 10, 1931 The Times Hammond, IN
Article from The Times, March 10, 1931

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Article Text

DEPOSITORS WON'T LOSE BRAZIL, Ind., March the first more 50 years bank this city failed open its doors today. was Davis Trust company with $275,000 deposits. Daniel Davis, of the said that frozen assets caused the bank to close its doors for It expected the pension business, Luther D. mons, banking this institution wealthy closing the bank entail danger the This the first bank is Brazil close its doors since failure the Brighton and Teter back

3. March 12, 1931 Greenfield Republican Greenfield, IN
Article from Greenfield Republican, March 12, 1931

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Article Text

BRAZIL BANK CLOSES; STOCKHOLDERS WEALTHY Ind., March the first time in more than years bank in this city failed to open its doors today. It was the Davis Trust Company with $275,000 in deposits. Daniel Davis, president of the said that frozen assets caused bank to close its doors for the present. expected the bank will be reorganized. Commenting on the bank's pension of business, Luther mons, state banking commissioner, said in Indianapolis: Stockholders of this institution wealthy and the closing of the bank will entail no danger of loss to the depositors.' This is the first bank in Brazil to close its doors since the failure of the Brighton and Teter Bank back in The Ladies Society of the ley Church met at the home Mrs. Pogue, Monday with 21 members present. The meeting was opened by reading from Ladies Society manua!, followed by song After some discussion society proceeded to elect officers for the ensuing year, beginning April 1st. Officers elected are as follows: President. Mrs. Hagans; vice president, Mrs. Hamer: second vice president, Mrs. Hatfield: secretary, Mrs. Pfeifer: treasurer, Mrs. Orr. Meeting closed by members the Lord's prayer. Hostess served refreshments. Hoarse, deep night coughs fright a Mother. No time then to rush to drug store or find tor. Genuine Foley's Honey and Tar, dependable, stops coughs. Coats the throat with a healing mulcent. Clears clogged air passages. Allows quiet sleep. Sedative without opiates. Mildly ative. Endorsed by careful Mothers everywhere. Ask for Foley's. ily size. real thrift buy. For sale by Early Drug

4. March 18, 1931 The Kokomo Tribune Kokomo, IN
Article from The Kokomo Tribune, March 18, 1931

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Article Text

WIFE HELD IN KILLING ON STORY OF "DIARY" New York, March Mamie Diller, wife of Herman Diller, druggist hatchet murder victim, was taken into custody on a charge of suspicion of homicide late today on a clue furnished by her nine-year-old son Mrs. Diller, questioned for nearly:24 hours, had clung to a simple story that she had discovered Diller's mutilated body in their Brooklyn home after she had taken NEWSPAPER MANAGER her children to school yesterday. There had been, the IS BANK RECEIVER examiners said, no variation in her statements When arrested she stoutly denied killing the wealthy drug dealer. James A. Raper today was appointThe "autoblography" of the little ed by Judge Hitchinson, of Clay boy which he had titled "The Life circuit court. to be receiver for the of Martin Diller. written in an imDavis Trust Company. which closyielded to them sufficient basis for ed its doors last week. Raper is the arrest. In the manuscript the business manager of the Brazil lad had written: Daily Times and his appointment "One day heard my father and has been asked in petition filed mother quarreling Afterwards by stockholders of the bank. asked my mother what they were W. P. Luther, a director and at. fighting about and she told me I torney for the bank. said he had must never mention anything about reason to believe all depositors and This caused the police to renew their severe interrogation of the mother, a middle-aged woman. in appearance but calm and collected in demeanor, and prompted the decision to hold her without bail. Diller had been slain in his bedwreckage. His body lay between twin beds. His skull revealed nine fractures. There were clear indications hatchet had been the weapon used. night dress of Mrs. Diller was in the bathroom. Paints and lacquers for every use. T. 0. Bryant.

5. March 19, 1931 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, March 19, 1931

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Article Text

Hinton Will Be Guest Plans for entertainment of Lieutenant Walter Hinton, noted flier, on week-end visit to Indianapolis were virtually today, according officials of the Exchange club, sponsoring his trip here He will speak at an Exchange Club luncheon at the Lincoln Friday, will inspect all local airports, make calls, and be guests at party Saturday night at which Howard Maxwell of the One hundred thirteenth squadron, Indiana national guard. will be host. Bank Receiver Chosen BRAZIL, Ind., March James A. Raper, newspaper business manager, has been appointed receiver of the Davis Trust Company by Judge T. W. Hutchison of Clay circult Raper will begin his duties Thursday.

6. April 18, 1931 Brazil Daily Times Brazil, IN
Article from Brazil Daily Times, April 18, 1931

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Article Text

FIRST DIVIDEND RECEIVER JAMES RAPER THAT CHECKS WILL BE READY FOR DEPOSITORS WEDNESDAY. FIRST DIVIDEND FOR 25 PER CENT Depositors Will Be Required Call At Bank and Sign Affidavit in Proof Of Their Claim Against the Defunct Bank. Judge Hutchison, of Clay Circuit court, today issued an order directing James Raper, recelver for the Davis Trust company, to issue the first depositors of the defunct bank. The first dividend will be for 25 per cent and Receiver Raper said that about $70,000 will paid out in meeting this The suing of the dividend checks will start Wednesday morning. Under the law, each depositor required to make affidavit in proof their claim against the bank. These claim blanks have been out by the receiver and attachwill be check for per cent of the money each depositor had on deposit in the bank. The receiver and his force have been work for the past two weeks making out the claim blanks to the the expense and trouble of making out their affidavits. Each depositor will required to sign claim blank and will then be handed check for per cent of his or her posits. Each depositor is required to file one of these claims, regardless of the amount of money they have on deposit whether regular deposit, savings deposit Christmas savings club deposit. The checks will be made voucher form and the check must not be detached from the voucher part of the document. This bined check and voucher must signed in two places before can be cashed. The depositor may take the check any bank and receive money. Depositors of the late Davis Trust Co. must realize that will be Impossible for the receiver and force to wait on all the depositors Wednesday and some them will have to wait until later get their checks. is the hope the receiver, however, that all depositors will call at the bank within week and obtain their checks.