Farmers State Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: *
Location: Eaton, Indiana (40.340, -85.351)

Metadata

Model: gpt-5-mini
Short Digest: abb8ff1f

Response Measures

None

Description

Article (Muncie Evening Press, 1933-11-14) states more than $6,000 is 'frozen' in the defunct Farmers State Bank of Eaton. No run is described; the bank is described as defunct and funds are tied up, implying closure/receivership by authorities. No explicit suspension or receivership date given in the excerpt.

Events (2)

1. * Receivership

Newspaper Excerpt: 'More than $6,000 frozen in the defunct Farmers State Bank of Eaton.' The article also notes funds tied up by the state board and transfers tied up at Albany State Bank by the state board.' (1933-11-14)'
Source: newspapers

2. * Suspension

Cause: Government Action
Cause Details: Bank described as defunct and funds 'frozen' (tied up) by authorities/state board, indicating closure/administrative action.
Newspaper Excerpt: 'More than $6,000 frozen in the defunct Farmers State Bank of Eaton.'
Source: newspapers

Newspaper Articles (1)

1. November 14, 1933 Muncie Evening Press Muncie, IN

Article from Muncie Evening Press, November 14, 1933

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Article Text

UNION TOWNSHIP LEVY APPROVED BY TAX BOARD Refuses Plea of Taxpayers for Reduction. In the face threatened tax strike, the state board of tax commissioners today approved 1934 levies Union Township. Rates fixed by county tax adjustment for township and $4.27 stand unless the state board reduces the county of cents. No decision was given on rates for the Muncie civil city, Muncie school Muncie library and Center Township, were appealed along the Union Township rate In the county audiof its action on the Union levies, the state board gave no when would rule on the other rates. Two Hearings. Hearings on appealed rates been held twice. The first hearing, two weeks ago, was found illegal cause proper notice was not given. hearing, correct the was held last Friday Property holders Muncie Center Township rates asked blanket reduction of levies to bring rates within ability Calvin urged within fixed by state tax limitation law. Jnion Township taxpayers more specific their pleas tax reductions. They asked that teachsalaries reduced to the state bonds issued refund unpaid debts, that the vocational agriculture and home economics program the Eaton School discontinued. Union Township's 1934 rate, $2.83, greater than its 1932 The rate $4.27, highest the county, cents over 1933. Reduction property was the princifactor in increases. For 1934 tax at $448,615, compared an appraisement $530,870 for Union Township's dropped from $1,107,825 to $1,017,895. Rates Raise Less. Eaton's 1934 rate actually will raise $315 less than its current rate, and Union Township's total tax bill next year will be $109 less than for 1933. The reduction, however, benefits only property and utilholdings. Real estate, appraised but once four years, bears the same appraisement as last year. Farmers and of Eaton property materially increased taxes 1934. handicaped by inability about of its funds. More than $6,000 "frozen" in the defunct Farmers State Bank of Eaton. Niles Township Union about $4,000 for transfers, but its funds are tied up the Albany State Bank by the state board Although Union Township taxpayers centered attack on school system. the levy for that but $14,077 1934, compared to anticipated $19,663 from 1933 school levy. Much the school costs be paid with outside revenue, including the state excise and gross income taxes. Levies included the Union Township rate State, cents; county. cents; road bonds interest. cents: poor relief, cents; special school fund. 53 cents; tuition fund, cents; school bond fund, cents, library fund. cent. Contemplate Strike. Eaton's rate includes: State, 15 county, cents; road bonds and interest, 37 township, 10 cents; poor relief, cents; special