5567. Knox Bank & Trust Company (Vincennes, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
May 1, 1928*
Location
Vincennes, Indiana (38.677, -87.529)

Metadata

Model
gpt-5-mini
Short Digest
dadd271765c58188

Response Measures

None

Description

Articles (May 1928) report the Knox Bank and Trust Company was closed by the state banking department and a temporary receiver (Ira D. Schaffer) appointed. No article describes a depositor run; legal suits and receiver appointment indicate suspension and takeover/receivership. OCR in Article 2 shows Knox Harrison Bank and Trust company which appears to be an OCR error or variant — primary identification matches Knox Bank and Trust Company in Vincennes. Closure appears to be by state action (government action), leading to receivership.

Events (3)
1. May 1, 1928* Suspension
Cause
Government Action
Cause Details
Closed by the state banking department (state banking authorities ordered closure).
Newspaper Excerpt
appointed temporary receiver here this afternoon for the Knox Bank and Trust company, which was closed last week by the state banking department.
Source
newspapers
2. May 15, 1928 Receivership
Newspaper Excerpt
Ira D. Schaffer ... was appointed temporary receiver here this afternoon for the Knox Bank and Trust company ... Schaffer was put under $1,000,000 bond. Appointment came after swift moves in the legal battle to name receiver.
Source
newspapers
3. May 22, 1928 Other
Newspaper Excerpt
The Knox Harrison Bank and Trust company case was back where it practically started ... Judge Calverley granted the plea ... attorneys could not get together on whom to name ... Schaffer's appointment came up for final action but action was delayed by Gee's move for new judge.
Source
newspapers

Newspaper Articles (2)
1. May 15, 1928 Evansville Courier and Press Evansville, IN
Article from Evansville Courier and Press, May 15, 1928

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Article Text

ASK PERMANENT Court Placess Schaffer in Charge of Vincennes Institution Until Monday Ira D. Schaffer. vice-president of the American National bank. was appointed temporary receiver here this afternoon for the Knox Bank and Trust company, which was closed last week by the state banking department. Appointment of Schaffer came after swift moves in the legal battle to name receiver. Two suits, one by the state bank department and another by attorneys. representing Isaac Hayes, stockholder, had been filed in separate courts. Davenport had been named special judge in the case, both sides sprang surprise by dismissing their suits and before the court adjourned, the stockholders filed new suit in superior court and Judge William F. Calverley immediately appointed Schaffer He was put under $1,000,000 permanent will be named Monday Deputy Attorney General James House, who represented the state banking department, said the court's action did not effect his pend- THERE is nothing that has ever taken the place of Bayer Aspirin as an antidote for pain. Safe, or physicians wouldn't use it, and endorse its use by others. Sure, or several million users would have turned to something else. But get real Bayer Aspirin (at any drugstore) with Bayer on the box, and the word genuine printed in

2. May 22, 1928 The Vincennes Sun-Commercial Vincennes, IN
Article from The Vincennes Sun-Commercial, May 22, 1928

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Article Text

BANK RECEIVER CONTROVERSYIS BACK AT START Plea for Change of Judge Is Granted by Calverley. The Knox Harrison Bank and Trust company case was back where it practically started from today when Superior Judge W. F. Calverley granted the plea of Frederick W. Gee, of Lawrenceville, new attorney, for a special judge. Attorneys could not get together on whom to name, so Judge Calverley selected James A. Jones of Bicknell, and Chester H. Huston and Sherman Davenport as Vincennes attorneys, as the three from who the judge would be selected. Circuit Judge Coulter a week ago Friday submitted the same three names when Deputy Attorney General James M. House petitioned for change of judge. At that time, Attorney Davenport was chosen. He was the bench but few minutes, House dismissing his suit. More Legal Moves. House refiled his suit, getting it back before Judge Coulter. Shake and Kimmell, however, dismissing their first suit, refiled in Superior court and Judge Calverley immediately appointed Ira D. Schaffer temporary receiver. Yesterday, Schaffer's appointment came up for final action but action was delayed by Gee's move for new judge. Under the law, Gee has two days to decide which of the three names shall be stricken off. However, he is expected to report tomorrow. Curtis Shake, Joe Kimmell and W. M. Alsop, attorneys on the other side, will strike the second name. The attorney left will be the judge. Before Shake and Kimmell struck off Jones, House knocked off Huston. Only Attorney in Court. Gee, who is representing the bank and Tyler Andrews, president, was the only attorney on his side in court today. House was absent. Gee, petitioning an affidavit for new judge on behalf of Andrews, set out that he could not get a fair trial from Judge Calverley for two reasons; one that Judge Calverley is a creditor and depositor in the bank, and second that he has certain bias and prejudice. The affidavit was submitted yesterday. Shake, Kimmell and Alsop sought to have the judge rule first on whether a motion to let Luther F. Symons, state bank commissioner, intervene should be filed. They submitted written objections. Law Mandatory. Judge Calverley this morning said the law made it mandatory for him to grant the plea for new (Turn to Page Eight, please.)