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: 78c4e3e6

Response Measures

None

Description

Articles report the Peoples' State Bank of Crown Point closed in December 1931 and is described as 'defunct' with Edward Eder named receiver. April 1933 articles describe a suit by the receiver against stockholders to make up a deficiency of about $100,000 in liquidation. No contemporaneous bank run is described; this is a suspension/closure due to insolvency.

Events (3)

1. December 21, 1931 Receivership

Newspaper Excerpt: Edward Eder, receiver the defunct bank, which closed, Dec. 21, 1931.
Source: newspapers

2. December 21, 1931 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank was insolvent; assets deficient by about $100,000 preventing payment of creditors and depositors.
Newspaper Excerpt: the defunct bank, which closed, Dec. 21, 1931.
Source: newspapers

3. April 28, 1933 Other

Newspaper Excerpt: filed action in the Lake Circuit court ... against the stockholders of the Peoples' State Bank ... Mr. Eder brings the suit on behalf of all depositors alleging there are no assets with which to pay creditors and depositors.
Source: newspapers

Newspaper Articles (3)

1. April 28, 1933 The Times Hammond, IN

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Article Text

PEOPLES' STOCKHOLDERS SUED [SPECIAL THE TIMES) CROWN POINT, Ind., April Attorneys Barr this filed action in the Circuit against the stockholders of the Peoples' State Bank for Eder, the which closed, Dec. 1931. Mr. on behalf of all depositors alleging there no assets with which to pay creditors and depositors. The assets are in the of $100,000 debts, liabilities alleges that If an amount equal the capital stock of bank which was $60,000 by the stockholders, amount would greatly receiver liquidation. Among stockholders Roy G. Fagen, Mr. Mrs. Pattee, Schroeder, Mrs. Louisa Laws, Mrs. Clark, Sleeb, Peter G. Fagen, Roy Fagen, Miss Lillian Schmidt, Henry Schmidt, Mrs. Elizabeth Schmal, John Claussen, Otto Fifield, Otto Fraas, Frank Hack, George Keiser, Rev. Guethoff, Mrs. Stella Meeker, Emma Sherman, Frances Beerk, Charles Krohn, Elizabeth Letz, Leslie H. Grant Anna Wilson, Clara Sherman, Mrs. Rose Robinson and Milton Kerr.

2. April 28, 1933 The Times Hammond, IN

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Article Text

PEOPLES' STOCKHOLDERS SUED (SPECIAL TO THE TIMES) CROWN POINT, Ind., April Attorneys Norton, Barr and Norton city filed action in the Lake Circuit court this week, against the stockholders of the Peoples' State Bank Edward Eder, receiver the defunct bank, which closed, Dec. 1931. Mr. Eder brings the on behalf of all alleging there no assets which pay creditors and The are deficient the $100,000 pay debts, obligations He alleges that equal to the of the bank which were paid by the stockholders, amount would greatly aid the bank receiver liquidation. Among stockholders John H. Roy Fagen, and Mrs. Pattee, Otte Meyer. John Schroeder, Mrs. Louisa Laws, D. Clark, Peter G. Fagen, Roy Fagen, Miss Wilson, Lillian Schmidt, Henry Mrs. Elizabeth ClausOtto Fifield Otto Fraas, Frank Hack, George Keiser, Rev. Guethoff, Stella Meeker, Miss Emma Sherman, Frances Beerk, Charles Krohn, Elizabeth Letz, Leslle H. Grant Wilson, Clara Sherman, Mrs. Rose Robinson and Milton Kerr.

3. April 28, 1933 The Times Hammond, IN

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Article Text

PEOPLES' STOCKHOLDERS ISPECIAL TO THE TIMES) CROWN POINT, April Attorneys Norton, Barr and this city filed an action in the Lake Circuit this against the stockholders of the Peoples' State Bank Eder, receiver the defunct which closed, Dec. 21, 1931. Mr. Eder the on behalf of all depositors alleging that there assets with which to pay creditors and depositors. The assets are deficient in the sum of $100,000 pay debts, liabilities and obligations alleges that an amount equal the capital stock of bank which by would greatly aid the bank in liquidation. Among stockholders Roy G. Mr. and Pattee, Meyer, John Schroeder, Mrs. Louisa Laws, Mrs. Clark, Sleeb, Peter G. Fagen, Roy Fagen, Miss Margaret Wilson, Miss Lillian Schmidt, Henry Schmidt, Elizabeth Schmal, John Otto Fifield, Otto Fraas, Frank George F. Keiser, Rev. P. Guethoff, Mrs. Stella Meeker, Miss Emma Sherman, Frances Beerk, Charles Krohn, Elizabeth Letz, Leslie H. Grant Anna Wilson, Clara Sherman, Mrs. Rose Robinson and Milton Kerr.