5498. Farmers State Bank (Bunker Hill, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 10, 1927
Location
Bunker Hill, Indiana (40.659, -86.102)

Metadata

Model
gpt-5-mini
Short Digest
aa7bff23

Response Measures

None

Description

Bank closed following the suicide of cashier A. M. Zehring and discovery of a $30,000 shortage in bonds. A receiver (First National Bank) was appointed; receivership proceedings dated March 14, 1927. No run is described as the cause; closure appears permanent with receiver settlement continuing.

Events (2)
1. March 10, 1927 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closure followed the suicide of cashier A. M. Zehring and discovery of a shortage of about $30,000 in bonds held by customers; stockholders asked a receiver be appointed.
Newspaper Excerpt
Farmer's Bank Bunker closed March 10, has petitioned the court for authority ... the wrecked bank
Source
newspapers
2. March 14, 1927 Receivership
Newspaper Excerpt
The affairs of the bank are nearing final settlement, having been receivership March 14, 1927. About $219,000 in net cash has been collected by the receiver. ... The First National Bank; as receiver, was allowed ... Claims amounting to $8,066.94 were granted on petition by Judge Hurd Hurst in circuit court in receivership proceedings of the old Farmers State Bank Bunker Hill. (Kokomo Tribune, 1931-05-21). and stockholders are asking a receiver be appointed. (Indianapolis Times, 1927-03-15).
Source
newspapers

Newspaper Articles (6)
1. March 15, 1927 Chronicle Tribune Marion, IN
Article from Chronicle Tribune, March 15, 1927

Click image to open full size in new tab

Article Text

TILLIE THE TOILER By RUSS WESTOVER A MUZZLE FOR MAC them to liquidate entirely. The other two, he was not sure about. KoKoMo, Ind., March Disclosure of a shortage of $30,000 in bonds at a meeting of stockholders of the Farmers State bank of Bunker Hill was responsible for closing of the bank, following the suicide of A. M. Zehring, cashier, stockholders said today. The bonds are in the hands of customers, who cannot be located, it was said. Functions of government of Pipe Creek township in Cass county are paralyzed as a result of the bank's closing, for John Blue, trustee, had deposited $28,000 of the township's funds there. Now he is unable to pay teachers and school hack drivConsolidation of the First State and G. W. Conwell banks of Galveston is being considered, according to L. L. McDonald, president of the First bank, which was closed by the state banking department after a miniature run on the bank. THERE IS no reason for being without the things you need. Read the classified section regularly.

2. March 15, 1927 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, March 15, 1927

Click image to open full size in new tab

Article Text

TOWNSHIP IS LOSER Bank Closing Takes $28,000 of Its Funds. Bu Times Special PERU, Ind., March 15.-John Blue, Pipe Creek Township trustee, today faced the necessity of borrowing money to pay teachers and other expenses due to the fact that $28,000 of the township funds, is tied up. in the Farmers' State Bank at Bunker Hill which closed last week. Blue's bondsmen may be called on to make the amount good. The bank closed following the suicide of A. M. Zehring, cashier. A shortage of $30,000 in bonds was discovered. Stockholders are asking a receiver be appointed.

3. March 15, 1927 The Star Press Muncie, IN
Article from The Star Press, March 15, 1927

Click image to open full size in new tab

Article Text

FAIL LOCATE IN BONDS Trustee EmbarTownship rassed Closing of by Bunker Hill Bank. Kokomo, Ind., March meeting this evening of stockholders of the Farmers State Bank of Bunker Hill, which closed its doors Friday morning following the suicide of M. Zehthe cashier, it was disclosed ring, that the failure of the bank is not due to agricultural conditions, but to shortage in bonds amounting to at least $30,000. The bonds belong yet beer dition of the bank tion by Thomas Barr, deputy bank examiner, the asking that reciver be appointed the Miami County Circuit Court. John trustee of Pipe Creek has been Continued Tenth Page

4. March 15, 1927 The Huntington Herald Huntington, IN
Article from The Huntington Herald, March 15, 1927

Click image to open full size in new tab

Article Text

TEACHERS ARE Township Business Paralyzed By Closing Of Are Talked At Galveston KOKOMO, March closure of shortage of $30,000 in bonds at meeting of stockholders of the Farmers State bank of Bunker Hill was responsible for closing of the bank, following the suicide of A. M. Zehring, cashier, stockholders said to day. The bonds are in the hands of cus tomers, who cannot be located, it was said. Functions of government of Pipe Creek township in Cass county are paralyzed as result of the bank's closing, for John Blue, trustee, had deposited $28,000 of the township's funds there. Now he is unable to pay teachers and hack drivers. Consolidation of the First State and Conwell banks. of Galveston, to being considered, according to Donald, president First State bank, which was closed by the state banking department after a miniature run on the

5. April 19, 1927 The Times Hammond, IN
Article from The Times, April 19, 1927

Click image to open full size in new tab

Article Text

FARMERS WORRY OVER THEIR TAXES hundreds of farmers living near Bunker Hill will be able to pay their that to the Miami circuit court today The First National Bank here, for Farmer's Bank Bunker closed March 10, has petitioned the court for authority per cent deposits to patrons the wrecked bank to the taxpayers. Several years will required for complete payments depositors will not be paid full, Lloyd Smith, bank official acting as receiver.

6. May 21, 1931 The Kokomo Tribune Kokomo, IN
Article from The Kokomo Tribune, May 21, 1931

Click image to open full size in new tab

Article Text

PERU CITIZENS WATCH PASSING OF AIR ARMADA Business Suspended While Nation's Aircraft Fly Over City. Peru, May Spe100 of the nation's mobilized aircraft passed directly over this city at 11:30 today enroute Chicago from Dayton: Ohio. where 650 fighting planes have been participating In the first general air mobilization. Most of ships passing over here were twin-motored Martin bombers and tri-motored transports: although there were several flights of faster planes: Fiying in eschelon Cormation. the portion of the air armada passing here presented beautiful spectacle. The sun was shining at the time and the planes were at low altitude, well under pratty background of clouds. The roar of the many motors brought the into the streets and business was at standstill for quarter of an hour Flights of lighter craft were fat to the east and west of the bombers, that no one was able to all the planes in the group. There have been as many planes. bovering over Peru during air circuses staged here several summers ago. but this was the first time were treated to the sight of air army. Allow Bunker Hill Claims. Claims amounting to $8,066.94 were granted on petition by Judge Hurd Hurst in circuit court in receivership proceedings of the old Farmers State Bank Bunker Hill. Attorney fees of $4,055.58 were grant the firm of Rhodes & Rhodes. The First National Bank; as receiver, was allowed SS.411.38. The affairs of the bank are nearing final settlement, having been receivership March 14, 1927. About $219,000 in net cash has been collected by the receiver. more than 650 acres of real estate disposed of, as well as other pieces of property. The general creditors have rcceived percent dollar. The expense of has been about 10: percent of the net assets, or 7.percent of the gross assets. Previous fees paid brings the total for the law firm $8,787.56 and for the First National bank to about $6,452.38. Beatty Clawed Again. Clyde Beatty, youthful Hagenanimal trainer. was painfully: but not seriously. clawed during Lbe show program given last week in W. Va. Two lions and tiger engaged him in an unbilled battle in which Bealty was cut on the arm. according to Rex de Rosselli. press agent with the show. The narrowest escape Beatty ever experienced was in Kokomo year ago. Since appearing in New York the big RinglingBarnum circus this spring. young Beatty has beer getting considerablo newspaper space. O. O. McIntyre, New York columnist, today devoted most of his article to LeilIng of Clyde Beatty Kokomo Man Fined. Roy Rorer of Kokomo today pleaded guilty to fishing without license and was $10 and costs, amounting to $25, by Justice Farrar. The cases of Leonard Kell, Von Beard, and Charles Beard. all of near Peoria, who are charged with shooting fish by state game wardens. were for trial next Tuesday morning. Passes Annapolis Exam. Mr. and Mrs. James M. Higgin. botham have been notified that their son. James B.. has success. fully passed the examinations required of candidate for appoint ment to the U. Naval Academy Annapolis, Md: Young Higginbotham was stellar performer on the Tiger football and track teams before graduating fast spring. Hc has been In preparatory school Alabama at the Marion Milltary Institute and return there for another term before accepting the naval Survive Elimination. Five pupils of the local high school have survived the public speaking contest eliminations and will compete next Monday night for the annual award. given by Mrs: S. Porter. Those remaining in the contest are: Gwendolyn Young. Connie Mac Hobbs, Gration Wicherham, Russell Keith. and Harold Porter. Miss Ida Galbraith. teacher: is in charge of the con- Arrests Two Youths. Floyd Mogle and William Erenarrested today by Bixler, Wabash railroad detective, charged with pelit larceny for takworth of lumber. Morie was released under $300 bond and Bren- Wanted In Marion. Clyde Eckelbarger. 28, was rested by Sheriff Bert Buck this morning to be over to Marion authorities who have charge against him of driving a car while Aged Woman Dics. Mrs. Elizabeth Taylor. 78, daughter of Alexander Moss. said to have first colored man to make Peru his home, died noon today at ner home here. She was the War veteran: The following chi). dren survive: Oliver of St. Paul, Mrs. Edith Winston, and Mrs. Ms. bel Kelley, all of Peru. Mrs. Martha Palmer sister, Indianapells and brothers, A. R. Moss, In-