5591. Elizabeth State Bank (Elizabeth, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 1, 1922
Location
Elizabeth, Indiana (38.121, -85.974)

Metadata

Model
gpt-5-mini
Short Digest
a9949b77

Response Measures

None

Description

Bank was closed on recommendation of the state bank examiner (no general run reported). Receivers were appointed within days, and losses were later estimated — indicates permanent closure with a receiver.

Events (3)

1. March 1, 1922 Suspension
Cause
Government Action
Cause Details
Closed on recommendation of state bank examiner after intermittent withdrawals by depositors worried that officials of the defunct Corydon National Bank owned stock; article notes there had been no general run.
Newspaper Excerpt
The Elizabeth Bank of Elizabeth, Ind., ... failed to open its doors today on the recommendation of T. J. Dowden, State bank examiner.
Source
newspapers
2. March 5, 1922 Receivership
Newspaper Excerpt
W. D. Barnes was appointed receiver for the Elizabeth State bank. which also was closed by an examiner. Their bonds were fixed at $20,000. Mr. Barnes was president of the Elizabeth bank before state authorities took charge.
Source
newspapers
3. March 7, 1922 Other
Newspaper Excerpt
The loss of the Elizabeth bank will run as high as $17,000 ... Receivers of the bank have been appointed and will take over the affairs of the institution as soon as the examiners have completed their investigation.
Source
newspapers

Newspaper Articles (6)

Article from Indiana Daily Times, March 1, 1922

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Article Text

HOOSIER BANK FAILS TO OPEN Institution at Elizabeth Is Closed by State. LOUISVILLE, Ky., March 1.-The Elizabeth Bank of Elizabeth, Ind., with a capital stock of $10.000, and deposits believed to have aggregated $80,000, failed to open its doors today on the reccommendation of T. J. Dowden, State bank examiner. Withdrawals by depositors at intervals, who believed officials of the defunet Corydon National Bank owned the majority of the stock, resulted in the closing, although there had been no general run. It is said $7,000 of the capital stock was owned by George W. Applegate, W. E. Cook and Ben A. Applegata of the Corydon bank. It is believed the institution is solvent


Article from South Bend News-Times, March 5, 1922

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Article Text

APPOINT RECEIVERS FOR DEFUNCT BANKS CORYDON Ind., March 4.Samuel L. Refly formerly assistant cashier of the defunct Corydon National bank, which was closed recently by national bank examiners. was appointed receiver for the Farmers Savings and Trust Co., which was also closed by state bank examiners, by Judge F. J Wilson. W. D. Barnes was appointed receiver for the Elizabeth State bank. which also was closed by an examiner. Their bonds were fixed at $20,000. Mr. Barnes was president of the Elizabeth bank before state authoritties took charge.


Article from The Richmond Palladium and Sun-Telegram, March 7, 1922

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Article Text

Corydon Bank Loss May Reach $500,000, Report (By Associated Press) CORYDON, Ind., March 7.-Invest:gation of the three defunct banks in and near Corydon, has not yet been completed, but it was said by bank examiners yesterday that the loss of the Corydon national bank will reach $500,000. The loss of the Elizabeth bank will run as high as $17,000 and that of the Farmers' Savings and Trust company $100,000, the examiners said. Receivers of the bank have been appointed and will take over the affairs of the in. stitution as soon as the examiners have completed their investigation.


Article from The Jasper Weekly Courier, March 10, 1922

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Article Text

# INDIANA BREVITIES Washington, D. C.-The Department of Commerce, through the bureau of the census, announces that the costs of the government for the state of Indiana for the fiscal year ending September 30, 1920, amounted to $17,981,521, which was a per capita cost of $6.12. In 1917 the per capita cost was $4.43, and in 1914, $3.74, the totals for these years being $12,703,909 and $10,458,335, respectively. The per capita costs for 1920 consisted of expenses of general departments, $5.03, payments for interest, $0.02, and for outlays, $1.08. The total revenue receipts in 1920 were $18,991,903, or $6.47 per capita. For the fiscal year the per capita excess of revenue receipts over governmental costs was, therefore, $0.35. The net indebtedness (funded and floating debt less sinking fund assets) of Indiana was $0.09 per capita for 1920, $0.06 for 1917, and $0.38 for 1914. Indianapolis. A list of all the stocks and other assets held by Richard V. Sipe, defaulting Marion county clerk, in lieu of a trust fund of more than $100,000 which he has dissipated, was turned over to county officials by the Hartford Accident and Indemnity company, surety on Sipe's official bond of $100,000. The assets had been given to the bonding company by Sipe since it became known that the trust fund supposed to be in his keeping was exhausted. Sipe was placed in jail at Indianapolis charged with embezzlement, and he refused to permit friends to come to his aid by providing the $10,000 bond which would cause his release from custody. Elizabeth.-After a week's examination, the Elizabeth bank was closed on recommendation of T. J. Dowden, state bank examiner. It is said that withdrawals of money at intervals by depositors, who understood that officials of the defunct Corydon National bank owned a part of the stock, resulted in the institution being closed. The Elizabeth bank has a capital stock of $10,000 and deposits are estimated at $80,000. Elizabeth, which has a population of 200 persons, is in Harrison county, of which Corydon is the county seat. Indianapolis. A 50 per cent reduction in fire insurance rates "on all fireproof buildings and contents of the same in the state of Indiana" is requested in a petition filed with the state insurance department by forty-five Indianapolis business houses. It is addressed to the state insurance commissioner, and asks for the reduction order because "we are now paying in Indiana a very high rate on fireproof buildings and contents." In the list of signers to the petition are some of the foremost business men in Indianapolis. The signers represent themselves to be "owners and tenants of fireproof buildings." Indianapolis. Word was received from United States army officials at Washington by Harry B. Smith, adjutant general of Indiana, that the One Hundred and Eighty-first field artillery of the Indiana National Guard had been designated as the One Hundred and Fiftieth field artillery. The unit uses 155-mm. howitzers. Mr. Smith also announced that the state indoor rifle championship matches are to be held at Culver Military academy March 20 and 21. Columbus. A reduction of approximately $8,000,000 in the assessed value of property in Bartholomew county is anticipated by tax assessors. The reduction will be largely due to decreased value of farm lands and the live stock on the farms. The total value of assessed property in the county this year will range from $125 an acre to $190 an acre in the different townships with the average being about $150 an acre. Shelbyville. The assessor for Shelby county informed all township assessors and their deputies at a meeting preliminary to the start of the spring assessment of property to reduce valuations on Shelby county real estate approximately 35 per cent. The chief assessor said he believes a reduction of that amount will result in the land being assessed at its true cash value. Fort Wayne. The Fort Wayne city council adopted a resolution condemning the federal prohibition act and calling on congress to amend it to permit the sale of light wines and beer. The resolution was adopted 11 to 3, with two members absent. The only woman member voted against the resolution. Jeffersonville. An agreement has been entered into by the city of Jeffersonville with the suburban towns of Clarksville, Port Fulton and Claysburg, whereby they shall contribute to the maintenance of the Jeffersonville fire department which will give them equal protection with the city. Hartford City. Twelve hundred pounds of certified seed potatoes were purchased by the Harrison Township Farmers' association of Blackford county for planting by members. Indianapolis-Five armed bandits


Article from The Jasper Weekly Courier, March 17, 1922

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Article Text

ment of Commerce, through the bureau of the census, announces that the costs of the government for the state of Indiana for the fiscal year ending September 30, 1920, amounted to $17,981,521. which was a per capita cost of $6.12. In 1917 the per capita cost was $4.43. and in 1914, $3.74, the totals for these years being $12,703,909 and $10.458,335. respectively. The per capita costs for 1920 consisted of expenses of general departments, $5.03. payments for interest, $0.02. and for outlays, $1.08. The total revenue receipts in 1920 were or $6.47 capita. excess over governFor the of $18,991,903. revenue fiscal year receipts the per per capital mental costs was therefore, $0.35. The net indebtedness (funded and floating debt less sinking fund assets) of Indiana was $0.09 per capital for 1920, $0.06 for 1917. and $0.38 for 1914. Indianapolis.- list of all the stocks and other assets held by Richard V. Sipe, defaulting Marion county clerk. in lieu of a trust fund of more than $100,000 which he has dissipated, was turned over to county officials by the Hartford Accident and Indemnity company, surety on Sipe's official bond of $100,000. The assets had been given to the bonding company by Sipe since it became known that in his was was placed in at keeping the trust jail fund exhausted. Indianapolis supposed Sipe to charged be with embezzlement, and he refused to permit friends to come to his aid by providing the $10,000 bond which would cause his release from custody. Elizabeth.-After a week's examination. the Elizabeth bank was closed on recommendation of T. J. Dowden, state bank examiner. It is said that withdrawals of money at intervals by depositors, who understood that officials of the defunct Corydon National bank owned a part of the stock, result ed in the institution being closed. The Elizabeth bank has a capital stock of $10,000 and deposits are estimated $80,000. Elizabeth, which has a population of 200 persons, is in Harrison county, of which Corydon is the county seat. Indianapolis.-A 50 per cent reduction in fire insurance rates "on all fireproof buildings and contents of the same in the state of Indiana" is requested in a petition filed with the state insurance department by fortyfive Indianapolis business houses. It is addressed to the state insurance commissioner, and asks for the reduction are now paya ing in order Indiana because very "we high rate on fireproof buildings and contents." In the list of signers to the petition are some of the foremost business men in Indianapolis. The signers represent themselves to be "owners and tenants of fireproof buildings." Indianapolis.- Word was received from United States army officials at Washington by Harry B. Smith. adjutant general of Indiana, that the One Hundred and Eighty-first field artillery of the Indiana National Guard had been designated as the One Hundred and Fiftleth field artillery. The unit uses 155-mm howitzers. Mr. Smith also announced that the state indoor rifle championship matches are to be held at Culver Military academy March 20 and 21. Columbus.- A reduction of approximately $8,000,000 in the assessed value of property in Bartholomew county is anticipated by tax assessors. The reduction will be largely due to decreased value of farm lands and the live stock on the farms. The total value of assessed property in the county this year will range from $125 an acre to $190 an acre in the different townships with the average being about $150 an acre. Shelbyville.-The assessor for Shelby county informed all township assessors and their deputies at a meeting preliminary to the start of the spring assessment of property to reduce valuations on Shelby county real estate approximately 35 per cent. The chief assessor said he believes a reduction of that amount will result in the land being assessed at its true cash value. Fort Wayne.-The Fort Wayne city council adopted a resolution condemning the federal prohibition act and calling on congress to amend it to permit the sale of light wines and beer. The resolution was adopted 11 to 3, with two members absent. The only woman member voted against the resolution. Jeffersonville.-An agreement has been entered into by the city of Jeffersonville with the suburban towns of Clarksville, Port Fulton and Claysburg. whereby they shall contribute the maintenance of the Jeffersonto them ville fire equal department protection which with will the city. give Hartford City.-Twelve hundred of the pounds purchased certified by Harrison seed potatoes Township were Farmers' association of Blackford


Article from The Jasper Weekly Courier, May 26, 1922

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INDIANA BREVITIES ashington, D. C.-The Departof Commerce. through the buof the census, announces that the of the government for the state ndiana for the fiscal year ending tember 30, 1920, amounted to $17,which was a per capita cost of In 1917 the per capita cost was and in 1914, $3.74, the totals for years being $12,703,909 and $10,respectively. The per capita for 1920 consisted of expenses of departments, $5.03. payments interest, $0.02, and for outlays, $1.The total revenue receipts in 1920 $18,991,903, or $6.47 per capita. the fiscal year the per capita exof revenue receipts over governcosts was, therefore, $0.35. The indebtedness (funded and floating less sinking fund assets) of Indiwas $0.09 per capita for 1920, for 1917, and $0.38 for 1914. idianapolis.-A list of all the stocks other assets held by Richard V. defaulting Marion county clerk, of a trust fund of more $100,000 which he has diswas turned over to county by the Hartford Accident and emnity company, surety on Sipe's bond of $100,000. The assets been given to the bonding comby Sipe since it became known the trust fund supposed to be in Keeping was exhausted. Sipe was in jail at Indianapolls charged embezzlement, and he refused to friends to come to his aid by viding the $10,000 bond which cause his release from custody. lizabeth.-After a week's examinathe Elizabeth bank was closed on ommendation of T. J. Dowden, bank examiner. It is said that adrawals of money at intervals by ositors, who understood that offiof the defunct Corydon National owned a part of the stock, resultthe institution being closed. The abeth bank has a capital stock of 000 and deposits are estimated at 000. Elizabeth, which has a popuof 200 persons, is in Harrison of which Corydon is the counadianapolis.-A 50 per cent reducin fire insurance rates "on all proof buildings and contents of the in the state of Indiana" is rein a petition filed with the insurance department by fortyIndianapolis business houses. It addressed to the state insurance missioner, and asks for the reducorder because "we are now payin Indiana a very high rate on fireof buildings and contents." In the of signers to the petition are some the foremost business men in Inhapolis. The signers represent themto be "owners and tenants of proof buildings." dlanapolis.-Word was received United States army officials at shington by Harry B. Smith, adjugeneral of Indiana, that the One and Eighty-first field artil-