5564. Peoples State Bank (Crown Point, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 21, 1931
Location
Crown Point, Indiana (41.417, -87.365)

Metadata

Model
gpt-5-mini
Short Digest
0cfa543d

Response Measures

None

Description

Contemporary articles report the Peoples State Bank of Crown Point closed in late December 1931 (closure date given as Dec. 21, 1931). No article describes a depositor run; a receiver (Edward Eder) is handling liquidation and later sues stockholders (Apr 28, 1933). Thus this is a suspension that resulted in permanent closure/receivership.

Events (2)
1. December 21, 1931 Suspension
Cause
Government Action
Cause Details
Bank closed and entered liquidation; a receiver was later handling affairs (receiver named in later reports).
Newspaper Excerpt
the closing of Peoples State bank, of Crown Point ... closed, Dec. 21, 1931.
Source
newspapers
2. April 28, 1933 Receivership
Newspaper Excerpt
Peoples' State Bank ... defunct closed, Dec. 21, 1931. Edward Eder, receiver of the defunct bank ... filed action ... against the stockholders of Peoples' State Bank.
Source
newspapers

Newspaper Articles (6)
1. December 23, 1931 The Times Hammond, IN
Article from The Times, December 23, 1931

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Article Text

PAYROLL NOT AFFECTED [SPECIAL TO THE TIMES) CROWN POINT, Dec. The usual December payroll for county employes affected by the closing of Peoples State bank, of Crown Point, yesterday, the office of County Auditor William today. had feared in quartthat the county be the payroll the of this month because the 000 county funds which were on deposit the closed bank. The auditor's office put this fear at rest the deposit in other banks of Lake on county to the 31 payroll. Checks for this payroll will signed by the county week.

2. December 23, 1931 The Times Hammond, IN
Article from The Times, December 23, 1931

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Article Text

DEC. PAYROLL NOT AFFECTED [SPECIAL TO THE TIMES) CROWN POINT, Ind., Dec. The usual December employes be the closing of the Peoples State bank, Crown the office of County William today. had feared in quartthat county not be payroll the last day of this month because of the $294,000 in funds which were on deposit the closed bank. The auditor's office put this fear at rest with the that the county sufficient money on deposit in other banks Lake county to the December payChecks for this payroll will be signed county

3. December 23, 1931 The Times Hammond, IN
Article from The Times, December 23, 1931

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Article Text

PAYROLL NOT AFFECTED [SPECIAL TO THE TIMES) CROWN Ind., Dec. December payroll for The employes the closing of the Peoples State by the County William today. had feared some quartthat county would not be the the this month the $294,of in county funds which were closed bank. The auditor's office put this fear at rest with the that has in other banks of Lake on deposit to the December paycounty for this payroll will be Checks signed by the county commissioners

4. December 23, 1931 The Times Hammond, IN
Article from The Times, December 23, 1931

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Article Text

DEC. PAYROLL NOT AFFECTED [SPECIAL TO THE TIMES) CROWN usual December payroll for not by the closing of the Peoples bank, Crown yesterday, the office of County Auditor William today. It had feared quartthat the not be ers county meet the payroll the last day of this month of the county funds were on deposit closed office put this fear The auditor's with the that at rest deposit in banks of Lake on county to the December 31 payChecks this payroll will be for signed week.

5. April 28, 1933 The Times Hammond, IN
Article from The Times, April 28, 1933

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Article Text

PEOPLES' STOCKHOLDERS SUED [SPECIAL TO THE TIMES) CROWN POINT, Ind., April Attorneys Norton, Barr and Norton of this filed action in the Lake Circuit court week, against the stockholders of Peoples' State Edward Eder, receiver the defunct closed, Dec. 21, 1931. Mr. Eder the on behalf of all which pay and are deficient the $100,000 pay debts, obligations. I.e alleges that if amount equal the stock of the bank which was were paid by the amount would greatly aid the bank receiver liquidation. Among heaviest stockholders John H. Roy G. Fagen, Mr. and Mrs. Pattee, Meyer, John Schroeder, Louisa Laws, D. Clark, Sleeb, Peter G. Roy Fagen, Wilson, Miss Lillian Henry Mrs. John Claussen, Fifield, Otto Fraas, Frank Hack, Keiser, Rev. Guethoff, Meeker, Emma Sherman, Beerk, Charles Krohn, Elizabeth Letz, Leslie H. Grant Anna Wilson, Clara Sherman, Mrs. Rose Robinson and Milton Kerr.

6. April 28, 1933 The Times Hammond, IN
Article from The Times, April 28, 1933

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Article Text

PEOPLES' STOCKHOLDERS SUED [SPECIAL TO THE TIMES) CROWN POINT. Ind., April Attorneys Norton. Barr Norton this city filed action in Lake Circuit court this against the stockholders of the Peoples' State Bank for Eder, receiver of the defunct bank. which closed, Dec. 1931. Mr. Eder brings the behalf of all depositors alleging that there assets with which to pay creditors depositors. The assets deficient in sum of $100,000 debts, obligations. alleges that an equal to the of bank which was by the greatly aid the bank receiver liquidation. Among the heaviest stockholders John Roy Fagen, and Pattee, Otto Meyer, John Schroeder, Mrs. Louisa Laws, Mrs D. Clark, Sleeb, Peter G. Fagen, Roy Fagen, Miss Margaret Wilson, Miss Lillian Schmidt, Henry G. Schmidt, Mrs. Elizabeth Schmal, John Claussen, Otto G. Fifield, Otto Fraas, Frank George Keiser, Rev. Guethoff, Mrs. Meeker, Emma Sherman, Frances Beerk, Charles Elizabeth Letz, Leslie H. Grant Wilson, Clara Sherman, Mrs. Rose Robinson Milton Kerr.