5598. State Bank (Westfield, IN)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
January 16, 1931
Location
Westfield, Indiana (40.028, -86.157)

Metadata

Model
gpt-5-mini
Short Digest
16c8602c0b2dbcf7

Response Measures

None

Description

The State Bank of Westfield closed in mid-January 1931, a receiver petition was filed Jan 23, 1931 and a receiver was appointed Mar 2, 1931. The bank remained in receivership and was liquidated (receiver sought 100% stockholder assessment and paid dividends to depositors), so this is a suspension followed by permanent closure/receivership. No explicit bank run is described in the articles.

Events (5)

1. January 16, 1931 Suspension
Cause
Government Action
Cause Details
State banking commissioner petitioned for receiver; bank had been closed (commissioner involvement implies regulatory action leading to closure).
Newspaper Excerpt
The bank was closed a week ago.
Source
newspapers
2. January 23, 1931 Receivership
Newspaper Excerpt
A petition asking appointment of receiver for the State bank of Westfield, Hamilton county, was filed in Hamilton circuit court here today by Luther F. Symons, state banking commissioner. Hearing will be held Feb. 2. (Jan. 23, 1931).
Source
newspapers
3. March 2, 1931 Receivership
Newspaper Excerpt
On recommendation of Luther F. Symons, state banking commissioner and stockholder of the defunct State Bank of Westfield, Judge Fred E. Hines of Hamilton circuit court here appointed Harry Talbert receiver of the bank. (Mar. 2, 1931).
Source
newspapers
4. May 13, 1931 Other
Newspaper Excerpt
Harry Talbert, receiver of the State Bank of Westfield, closed in January, filed a petition... to assess stockholders 100 per cent; losses due to bad notes and mortgages will total $47,000. (May 13, 1931).
Source
newspapers
5. July 17, 1931 Other
Newspaper Excerpt
Harry Talbert, who is liquidating the bank announces that he will begin paying out 25% dividend Friday to depositors. (Jul. 17, 1931).
Source
newspapers

Newspaper Articles (11)

Article from The Indianapolis Times, January 23, 1931

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Article Text

Bank Receiver Asked By United Press NOBLESVILLE, Ind., Jan. 23.A petition asking appointment of receiver for the State bank of Westfield, Hamilton county, was filed in Hamilton circuit court here today by Luther F. Symons, state banking commissioner. The bank was closed a week ago. Hearing will be held Feb. 2.


Article from The Indianapolis Times, January 23, 1931

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Article Text

Bank Receiver Asked By United NOBLESVILLE, Ind., Jan. 23.A petition asking appointment of receiver for the State bank of Westfield, Hamilton county, was filed in court here today by Luther F. state banking The bank was closed a week ago. Hearing will be held Feb.


Article from The Noblesville Ledger, January 26, 1931

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Article Text

Meeting Held Saturday and the Situation Discussed THE LIBRARY Steps Necessary to Get New Explained By Frank Beals The town and community determination and spirit of whole hearted support to plan for the reorganization of the State Bank Westmass meeting held at the Public Library Saturday night. Chairman Mendenhall openmeeting by giving brief outline object to be accomplished. The principal speaker, Frank Beals, citizen legal advisor for the Fletcher Trust introduced. Mr. Beals first pointed out the of meeting forum consider and means of organization. The lowed discusof the banking laws Indiana relative to the founding State Banks and under which they operated and may be stocked. Contrary to unfounded circulated shown that formality petitioning for Bank Receiver should not cause unalarm nor be taken to indicate reorganization cannot achieved. In fact Beals quotthe State Banking Commission that should the citizens community of Westfield manisufficient pledge adequate by Febthat he would lend his influence to set aside the petition for furthermore pointed out the investigation by the State Banking Commission not of sudden withdrawals on the institution occurred frequentin similar situations during the year. The condition shown be result of the general deflation values which has been place over period of years which can be met satisfactorthrough the organized effort and the community attendance and the enthusiof the meeting the conclusion the Mr. Beals many questions by those interested in to be taken These were and by Beals and others formed on the decided that committee with selecting subcommitpower This make an canvass pledge sufficient effect this reorganization. Chairman Mendenhall appointed Carey and Baber this committee power to appoint their assistFollowing the adjournment of the meeting, remained to pledge support the taking. also known that stockholders the old bank come forward and are prelike amount in the anticipated institu- reactionary results of the seemed the considerable confidence plan and in the community readjust banking satisfactory manner MOVE Claybourn Wheatley, have resided Tennessee, for past eight years move this city days Wheatley will employed Wheatley membered as Miss formerly resided here. Talking moving pictures are made the United States army use in training soldiers.


Article from The Indianapolis Times, March 2, 1931

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Article Text

Bank Receiver Chosen By Times Special NOBLESVILLE, Ind., March 2.On recommendation of Luther F. Symons, state banking commissioner and stockholder of the defunct State Bank of Westfield, Judge Fred E. Hines of Hamilton circuit court here appointed Harry Talbert receiver of the bank.


Article from The Noblesville Ledger, March 25, 1931

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FARMS Four Pieces of Noblesville Property and One In Sheridan LINDSAY BALLARD BUYS A TRACT New Litigations Filed and Marriage Licenses Issued Eight farms in Hamilton county, four pieces of property in Noblesresidence Sheridan changed hands during the endWednesday, according the books the office of Recorder Kinnaman. tract of land in Washington township which Lindsay H Ballard bought Clara Hinshaw was priced at $3,000 which topped the list week. Other farms which changed owners were located Delaware, White River, Clay and Noblesville The transfers for the week are follows: Oley Swank to Leurel lot in George Leach Donovan land twp., Otto Kirby to James Coverdale. lot in Noblesville, Cleave Thomas John W. dergrass, land Delaware twp., $1. Clara Lindsay Washington Clark Mallery Albert Ewing, lot in Sheridan, $200. Albert Ross Ora Kirby, Noblesville, Lindsay H. Ballard to John Pendergrass, land in Delaware Elmer Shelburne to Sadie Brouhard, land Clay twp., James Newby Mollie Newland in White River twp., William Maker to Alfred Moldthan, land in Delaware Mary Carey to Lotta Carey, land in Delaware Edgar Coffman Edgar Moldthan, land in New Cases Filed Ralph Kane Joseph Morgan. receiver of the Greek Orthodox church St. Trias, complaint for torney Rosa Greenwood Hudie Greenwood, complaint for divorce; change of venue from Madison county. David State, tition for of coram nobis. Dorser Clark Kessler Boulevard Realty Co., complaint foreclose mechanics Harry Talbert, receiver State Bank Westfield Charles and Mabel Osman, complaint for possession of real estate. Marriage Licenses Eugene Brewer and Iris Hulse. Elwood D. Craig and Grace M. Buscher James McCown and Ethel M. Cobble.


Article from The Indianapolis Times, May 13, 1931

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Article Text

Bank Receiver Sues By Times Special NOBLESVILLE, Ind., May 13.A petition has been filed in Hamilton circuit court here by Harry Talbert, receiver of the State Bank of Westfield, closed in January, for an order to assess stockholders 100 per cent. Talbert sets out that losses, due to bad notes and mortgages, will total $47,000.


Article from The Indianapolis News, May 13, 1931

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Article Text

STOCKHOLDER LEVY ASKED Bank Receiver Also Seeks Permission to Sell Property. [Special to The News) NOBLESVILLE, Ind., May 13.Harry Talbert, receiver for the defunct State Bank of Westfield, has filed a petition in n court asking to make an assessment of 100 per cent. on all stockholders. The receiver asserts the bank will lose approximately $47 000 because of uncollectable notes and mortgages. The petition further asks for the privilege of selling the bank building, now occupied by the Jolietville State Bank, which was moved to Westfield recently from Jolietville and which will change its name as soon as charter is issued.


Article from The Indianapolis Times, May 13, 1931

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STREAM SURVEY ASKED Indiana Waters to Be Examined for Trout Stocking. Dr. Will Scott of Indiana university and two students will survey Indiana to determine to what extent they may be stocked with trout, was announced today by Walter Shirts, chief of the fish and game division of the state conservation department, under whose auspices the survey is to be made. Bank Receiver Sues By Times Special NOBLESVILLE Ind., May 13.A petition has been filed in Hamilton circuit court here by Harry Talbert, receiver of the State Bank of Westfield, closed in January, for an order to assess stockholders 100 per cent. Talbert sets out that losses, due to bad notes and mortgages, will total $47,000.


Article from The Sheridan News, July 17, 1931

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BOY GETS MEDAL FOR REPORTING A BARBURY BUSH LaVerne Unger, son of Ralph Unger, Route 1, Cicero living 2 miles southwest of Cicero has just been awarded the medal of the Rust Prevention Association for locating and reporting an outlaw common barberry bush which sureads the destructive black stem rust to wheat, oats, barley, and rye. LaVerne was a freshman last year in the Cicero school. He learned to know the common barberry bush in the 8th grade when the teacher brought one to show the class and in while working on the farm which his father rents from Dr. Little, LaVerne located several common barberry bushes growing in the woods. He reported the bushes to county agent E. C. Parker and he in turn reported them to the state leader of barberry eradication at Purdue University. Mr. W. E. Leer, the state leader came to investigate. LaVerne took Leer to the location but they found only a hole where the bushes had been dug. The boy then undertook to find the transplanted bushes. They were found on the J. M. Kinder farm where Edward the son, had set them as an ornament around the house not knowing that they were the outlaw common barberries. Mr. Kinder was ~lad to have them removed vicinity identified them as barberries. Mr. Leer was so well impressed with the work of LaVerne Unger that he recommended him for the medal and it has now been awarded to the boy. Mr. Leer suggested that citizens of Hamilton County should be particularly careful not to transplant wild bushes from the woods unless they are very sure that the bushes are not the outlaw common barberry. Thousands of them have been killed in the county and more are constantly coming up from the seed left in the ground by the old bushes already destroyed. Last week agents of the United States Department of Agriculture used 750 pounds of salt to kill more than 300 common barberries which had sprung up since the county was surveyed in 1927. This work is nart of the campaign being waged in 13 central grain states for the eradication of the common barberry. Since 1918 more than 18,000,000 have been killed and the annual loss from black stem rust has been reduced from 57,000,000 bushels yearly to less than 10,000,000. GOOD NEWS FROM WESTFIELD Good news for the depositors of the defunct State Bank of Westfield is carried in the Receiver's Notice in another column of this paper. Harry Talbert, who is liquidating the bank announces that he will begin paying out 25% dividend Friday to depositors.


Article from The Indianapolis Times, July 25, 1931

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Article Text

# Bank Asks Name Change By Times Special NOBLESVILLE, Ind., July 25.- The Jolietville State bank has filed a petition in Hamilton circuit court here to change its name to Union State bank. This institution was moved from Jolietville to Westfield recently when the State bank of Westfield went into the hands of a receiver, but the name of the Jolietville State bank was maintained. Half of the stock is owned by residents of Jolietville and the other half by residents of Westfield. Harry Talbert, receiver for the State bank of Westfield, is paying a 25 per cent dividend to depositors.


Article from The Noblesville Ledger, May 6, 1932

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Other News Day From the Court House Harry Talbert receiver for the State Bank, of Westfield. has Calvin Higbee, tract of land in Washington township, according deed filed with Recorder Kinnaman, the consideration being Hattery released Mrs. Fred and Mrs. Ethel Summitt from jail, Thursday evening. They side Sheridan and both of them served days, the result of being fined Judge Hines charges intoxication. The Central Acceptance Company has brought proceedings court against Milo and Rosalind Maudlin for foreclosure chattel mortgage. The County Commissioners are scheduled meet special sion next Monday for the purpose of allowing claims for the primelection. roughly estimated that the primary between and Forty cents be allowed for meals compared with fifty and cents paid few The election years ficials will be paid for only two meals and two days' work according to the rule laid down by the Board. Most of the precincts were finished counting the vote before midnight.