Citizens Bank - Union City, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: June 7, 1900
Location: Union City, Indiana (40.202, -84.809)

Metadata

Model: gpt-5-mini
Short Digest: c65543fd7e0ec065

Response Measures

None

Description

Article (1900-06-07) reports a receivership for the Citizens' Bank of Union City and affirmation of a judgment relating to possession of notes. No mention of a depositor run; receiver means the bank was closed/placed in receivership (government action). Limited detail in the clipping, so exact suspension date unknown; used the newspaper date as the event reference for the receivership/suspension affirmation.

Events (2)

1. June 7, 1900 Receivership

Newspaper Excerpt: A judgment declaring a receiver of the Citizens' Bank of Union City and its treasurer, Perry A. Taylor, the possession of a series of promissory notes amounting to $8,416, was yesterday affirmed by the Supreme Court.
Source: newspapers

2. June 7, 1900 Suspension

Cause: Government Action
Cause Details: Receiver had been appointed for the bank; Supreme Court affirmed judgment regarding receiver's possession of promissory notes.
Newspaper Excerpt: A judgment declaring a receiver of the Citizens' Bank of Union City and its treasurer, Perry A. Taylor, the possession of a series of promissory notes amounting to $8,416, was yesterday affirmed by the Supreme Court.
Source: newspapers

Newspaper Articles (1)

1. June 7, 1900 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, June 7, 1900

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Article Text

KRAG-REYNOLDS CASE. Oral Argument Heard by Supreme Court-High Court Action. The oral argument of the Krag-Reynolds case was heard by the Supreme Court yesterday. The case is entitled John Reagan, Trustee, vs. the First National Bank of Chicago and others. An assignment was made by the company to Reagan as trustee for the general creditors, after having executed a mortgage on its property, which preferred a few Indianapolis creditors and others. The trustee asked that the mortgage be canceled and the property of the company distributed to the general creditors. The Marion Superior Court held the mortgage to be invalid as to the two holders of preferred stock, but foreclosed it in favor of most of the other preferred creditors. The unsecured creditors and the preferred stockholders appealed. In the case of the town of New Castle vs. the Lake Erie & Western Railway Company the Supreme Court affirmed a judgment holding that the railroad need not vacate the street in the town. The court said that a municipality, under the law of this State, has power to grant the privilege of laying a track for a street railway longitudinally along a street, and that such a right ought to be presumed from the undisturbed possession and use of the street by the railroad for so many years. The appeal of the Terre Haute & Logansport Railway Company from an order dissolving a restraining order by which the St. Joseph, South Bend & Southern Railway Company and the Indiana, Illinois & Iowa Railroad Company have been forbidden to exclude the Logansport Company from the use of their track in South Bend in transferring cars to other tracks, was dismissed by the Supreme Court yesterday. A judgment declaring a receiver of the Citizens' Bank of Union City and its treasurer, Perry A. Taylor, the possession of a series of promissory notes amounting to $8,416, was yesterday affirmed by the Supreme Court.