Article Text
BANK The Citizens Bank and Trust pany Elwood, assets about closed today the state banking is dent the bank and Gross cashier.
5607. Citizens Bank and Trust Company (Elwood, IN)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- October 27, 1931
- Location
- Elwood, Indiana (40.277, -85.842)
Metadata
- Model
- gpt-5-mini
- Short Digest
7ce19e6a
Response Measures
None
Description
Newspapers report the Citizens Bank and Trust Co. of Elwood closed (Oct 27, 1931 article) and was described as a closed institution with a liquidating agent (Aug 27, 1932). State Banking Commissioner filed suit to declare the bank insolvent in March 1933 and a receiver (Joseph H. Fihe) was appointed April 1933. No article describes a depositor run prior to suspension; sequence is suspension/closure with receivership.
Events (4)
1.
October 27, 1931
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank closed by state authorities / described as insolvent in later filings; closure reported in 1931 and referred to as a closed institution thereafter.
- Newspaper Excerpt
- The Citizens Bank and Trust pany Elwood, assets about closed today
- Source
- newspapers
2.
August 27, 1932
Other
- Newspaper Excerpt
- liquidating agent of the closed Citizens Bank and Trust Company This is in line with the policy already being pursued by our local institution, Mr. Gross stated ... Luther M. Gross, liquidating agent of the closed Citizens Bank and Trust Company (Aug 27, 1932).
- Source
- newspapers
3.
April 23, 1933
Receivership
- Newspaper Excerpt
- Judge Barlett H. Campbell yesterday named Joseph H. Fihe, of Elwood, receiver for the defunct Citizens Bank and Trust Company Elwood. The complaint asking the appointment of a receiver for the bank was filed on March 28, by Luther F. Symons, State Banking Commissioner ... Mr. Fihe took the receiver's oath and filed bond. (Apr 23, 1933).
- Source
- newspapers
4.
April 25, 1933
Other
- Newspaper Excerpt
- Depositors of the Citizens Bank and Trust Company Elwood yesterday filed petition in superior court seeking the removal of Fihe receiver for the bank...the bank declared insolvent March when Luther Symons, State Banking Commissioner, filed suit to declare the bank in the hands receiver...
- Source
- newspapers
Newspaper Articles (5)
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POLICY ALREADY FOLLOWED Hearty approval of the moratorium on mortgages which was invoked yesterday by the federal home loan bank borad and announc-e ment that the board's play already was in effect here was given today by Luther M. Gross, liquidating agent of the closed Citizens Bank and Trust Company "This is in line with the policy already being pursued by our local institution," Mr. Gross stated in lauding the action of the home loan bank board which yesterday electri fied President Hoover's economic conference was announced by Chairman Franklin W. Fort. By the mortgage holiday plan, the Treasury Department has ordered national bank receivers to suspend foreclosures on mortgaged homes for sixty days. Telegrams to every state supervising agency, urging participation in the movement, have been sent. Good Foresight Is Shown. "I have refused to foreclose on many mortgages for some time, de spite some strong criticism, for the reason that both depositors and home owners would suffer financial losses,' Mr. Gross said in explaining his action which the government now has adopted. "It also would hurt the community in general to foreclose on these mortgages. Mr. Gross pointed out that even if foreclosures were made it would be almost an impossibility to derive fair price from the properties.
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of negligence, on the part of the railroad, as the Edwards complaint. Both women were passengers in the car of Ted G. Hooten at the time of the accident. The law firm of Busby and Davisson are representing the plaintiffs in the cases. Fihe Named Receiver Judge Barlett H. Campbell yesterday named Joseph H. Fihe, of Elwood, receiver for the defunct Citizens Bank and Trust Company Elwood. The complaint asking the appointment of a receiver for the bank was filed on March 28, by Luther F. Symons, State Banking Commissioner The name of Richard A. McKinley who succeeded Symons as State Banking Commissioner, was substituted as plaintiff in the action for a receiver, yesterday. Mr. Fihe took the receiver's oath and filed bond. which was approved by Judge Campbell Sureties on the bond George M. Bonham, B Fettig, O. N. Hessler, and Richard A McClure all of Elwood. Mr. Fihe, who was named as receiver for the Elwood bank, has for number of years been the auditor for the Sheet and Tin Plate Company, in Elwood. DIVORCE SUITS FILED Willie Williams filed suit in circuit court yesterday asking divorce from his wife, Sally Ruth Williams. 1814 Madison avenue, charging her with abandonment The father is asking the custody of a minor child. The couple married June 5, 1929 and separated April 25, 1930. Clara Breese filed suit yesterday charging her husband, Lloyd A Breese, 1507 East Thirtieth street, chargingwith cruel and inhuman with cruel and inhuman treatment as grounds for the divorce. The wife is asking the custody of three minor children. The couple married April 23. 1922 and separated January 26, 1933. HALL UNDER ARREST John A. Hall, 1214 East Tenth street, was placed under arrest yesterday morning by Deputy Sheriff Francis Hinkle on a charge of incest Hall was arrested at the Municipal Golf course by the deputy. Hall is charged with having improper relations with his sixteen year old daughter, who is the prosecuting witness. NEW SUITS FILED Circuit Court Clara Breese VS. Lloyd Breese. Divorce and custody. Busby and Davis- Willie Williams vs. Sally Ruth Williams. Divorce and custody. Charles B. Salyer. State of Indiana VS. John A. Hall. Incest. Cecil F. Whitehead. Superior Court Hoosier Maytag Co. corp. vs Henry Shuman et al. Suit on note $119.87. Ryan and Daly Dorothy T. Edwards vs. New York Central Railroad Co. Damages for personal injuries $20,000. Busby and Maybelle Hooten vs. New York Central Railroad Co. Damages for personal injuries $5,000. Busby and COURT MINUTES Superior Court State of Indiana on the relation of Richard A McKinley bank commissioner vs. Citizens Bank and Trust Company. Application for receiver Joseph H. Fihe appointed receiver for said Citizens Bank and Trust Co. Oath and undertaking of receiver filed with George M. Bonham, B.J. Fettig, O. N. Hessler and R. A. McClure as sureties, which undertaking and sureties are approved by the court Receiver ordered and directed 10 take charge of assets of said M. Olive Merritt VS. John M. Merritt. Divorce. Default of defendant. Answer of prosecuting attorney filed and fee paid. Cause submitted, evidence heard, finding for plaintiff that she is entitled to a divorce from the defendant and alimony in the sum of $100. Defendant ordered to pay the clerk of this court $50 for plaintiff's attorney fees within 30 days from this date. Costs VS. defendant. JudgMarie Hayden vs. Homer Hayden. Divorce. Motion to dissolve restraining order filed, motion overruled. Restraining order modified in this that defendant is permitted to sell such farm produce as necessary to support plaintiff and family of plaintiff and defendant, pending this action Mary Foland vs. Henry M. Vall et Possession of recl estate. Cause submitted, evidence heard, finding for plaintiff that she is entitled to possession of real estate described in complaint and damages in the sum of $1, Costs VS. defendants. Judg- Circuit Court Ruby Stewart vs. Marion Stewart Divorce Default of defendant taken Prosecuting attorney ordered to file answer Answer of prosecuting attorney filed and fee paid. Cause submitted, evidence heard. finding for plaintiff that she is entitled to divorce from defendant and that plaintiff's name be changed to Ruby Barked. Defendant ordered to pay $50 at-
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FIHE OPPOSED RECEIVER Elwood Group Petitions Court To Rescind Appointment Depositors of the Citizens Bank and Trust Company Elwood yesterday filed petition in superior court seeking the removal of Fihe receiver for the bank. The depositors' committee, represented by Thomas McBride, W. Coxen and Dale Dickey asserted in their petition that Mr. incompetent minister the According to their Mr. Fihe was indebted to the bank in the sum of $7,523. By Indiana no owing the bank may act receiver. The bank declared insolvent March when Luther Symons, State Banking Commissioner, filed suit to declare the bank in the hands receiver in the Madison superior court. The name of Richard McKinley, succeeded Symons, was substituted plaintiff in the action for receiver Saturday. Mr. Fihe was appointed receiver for the bank April and the action him was filed yesterday committee of depositors said yesterday that they objected the he said defendant bank in that he did that and far know, said the sum $7,523.00 interest.' The time referred to in the petition the date of the receivership filing. March Members of the depositors commitnames possible receiver for the Citizens Bank and Trust Company, Elwood. Most were: Edward Ridley, president the Anderson Banking Company; Jones, tor and the men from Pipe Mark Winnings, WilHiatt, Asa Hancock and Glenn Hadley. CITY SUIT VENUED Suit for the collection of approximately from the Federal phalt Paving Company, of Hamilton, from the circuit to superior court county yesterday. The was originally filed for asphalt Anderson in 1931. The complaint was drawn by the former attorneygeneral, James Ogden. According the statement the attorney general, Anderson taxpayers were overcharged in the above sum. SUITS FILED Circuit Court Citizens Bank Garrett Unroe. On note, demand W. Day vs. Ollie Slater, Roy Slater. On demand RobSmith. Superior Court Frankton Building and Loan A650ciation Hazel Foreclosure, demand $1,525. Ell Myers. Anderson Loan Association Laura Larmore, demand $5,000. Ellis; Pence, and Diven. Anderson Loan Association Oscar Cates, et al. On notes mortgage, demand, $5,500.00. W. Ellis: Pence, and Diven. Anderson Loan Association Oscar Cates, et Foreclosure. mand Ellis; Pence, and Diven. COURT MINUTES Superior Follansbee Brothers Company John Wooten, Complaint contract, demand $100.00. Finding for plaintiff against defendant. Anderson Loan Association Oren Case, On note, foreclosure, demand Finding for plainin sum of $1,217.00 and $130.00 attorney Anderson Loan Association VS. Claude Nelson, Faye Nelson. On note and foreclosure, demand $2,200.00. Finding for plaintiff in the sum and $150 attorney Anderson Loan Association Harrison Foreclosure, demand Finding plaintiff $1,171.00 $130.00 Anderson Loan Association Howard Muriel Rider. On foreclosure, Finding for plaintiff in of $1,722.00 and Loan Association Elizabeth Boyles, al. Foreclosure and of receiver. Finding for plaintiff in sum of $1,005 and $120 attorney fees.
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Cause dismissed. Costs vs. plaintiff Madison County Lumber Company VS. Katherine M. Ryan. Note, demand $2,200. Cause dismissed. Costs paid. Madison County Lumber Company VS. Katherine M. Ryan. Note and foreclose mortgage, demand $1,800. Cause dismissed. Costs paid. Madison County Lumber Company vs. Katherine M. Ryan. Note and foreclose mortgage, demand $1,700. Cause dismissed. Costs paid. Eli Passwater et al VS. Glen G. Litten, et al. Possession of real estate and cancellation of contract. Cause dismissed. Costs paid. Mamie Adams vs. Charles O. Adams, et al. Complaint for support. Cause dismissed. Costs vs. plaintiff. Bertha J. Brown VS. City of Anderson, Indiana. Damages, demand $17,500. Verified motion for change of venue from county filed. Motion sustained and list of counties submitted. Henry county remaining, cause certified to Henry county. Five days given to perfect change. William Ernest Mull, et al VS. Mike Malona, et al. Quiet title. Demurrer to second paragraph of complaint filed by Defendant Maye Stokes VS, Ralph Stokes. Divorce. Cause dismissed. Costs VS. plaintiff. Alice Hannaford VS. William T. Hannaford. Divorce. Cause dismissed. Costs VS. plaintiff. Hannah Feldman VS. Caroline Van Meter, et al. Possession of real estate Second paragraph of answer by Defendant Caroline Van Meter filed. Cross-complaint of Defendant Caroline Van Meter filed. Thomas C. Gilmore vs. Charles Franklin, et al. Foreclose mechanic's lien, demand $150. Cause dismissed. Costs VS. defendant. Sparks L. Brooks VS. Prudential Insurance Company of America. Complaint on policy. Demurrer to complaint withdrawn. Lillian Romaine vs. Ralph Romaine. Divorce. Cause dismissed. Costs VS. plaintiff Lincoln Loan Company VS. Ples York, et al. Note, demand $116. Reply to second paragraph of answer filed. Charles N. Hardy VS. George Sparks. Note, demand $161.73. Answer of defendant in general denial filed. Plough Incorporation VS. B and K Grocery Co. Account and receiver, demand $64.50. Cause dismissed. Costs VS. plaintiff. Charles Carter VS. Ferdinand Trueblood, et al, Note, demand $105. Answers of defendants in general denial William Sparks VS. Virgil Barnes Note, demand $55. Cause dismissed. Costs paid. Howard Manuel VS. Pete McCormick, et al. Work and labor, demand $115.50. Answers of defendants in general denial filed. Hazel Woodward VS. Madison Cox. Possession of real estate and $16 damages. Default of defendant. Submitted, evidence heard, finding for plaintiff that she is entitled to possession of the real estate in the complaint and damages in the sum of $1. Costs VS. defendant. Judg- cipal and interest and $142 attorney ment. fees without relief. Judgment to Earl Davis, et al VS. Frank Caba- bear per cent interest. Costs VS. shier. Possession of real estate and defendants. Judgment. $60 damages. Default of defendant. Elwood Rural Savings and Loan Cause submitted, evidence heard, Association VS. Lawrence J. Cain, et finding for plaintiffs that they are en- al. Complaint for receiver and to titled to possession of real estate de- foreclose mortgage, demand $1,850. scribed in the complaint and $1 dam- Default of defendant. Cause subages. Costs VS. defendant. Judgment. mitted. evidence heard, finding for The Union Central Life Insurance plaintiff on note and mortgage in the Company VS. Nancy E. Fox, et al. sum of $1,632.92 principal and interEjectment and $200 damages, De- est and $141.28 attorney fees, all fault of defendants. Submitted, evi- without relief. Judgment to bear 7 dence heard, finding for plaintiff per cent. Judgment against Walter that it is entitled to possession of Kreck and A. Ella Kreck. Foreclothe real estate described in the com- sure against all defendants. Costs plaint and $7 damages. Costs VS. de- vs. Kreck and Kreck. Judgment. fendant Judgment. Arthur D. Cox VS. Charles E. CrafIda Hall Lloyd Pence. Injuneton. Note, demand $300. Default of tion, Cause dismissed. Costs paid. defendant. Cause submitted, evidence Sarah Hughes VS. Sterling Hughes. heard, finding for plaintiff on note in Divorce. Answer of defendant filed the sum of $253.55 principal and inJoseph H. Fihe, receiver for Cititerest and $52.95 attorney fees, withzents Bank and Trust Company, Elout relief. Judgment to bear 8 per wood, Indiana VS. Lottle C. Sneed cent interest. Tax paid. Costs vs. et al. Note and foreclose mortgage, defendant Judgment. demand $2,687 Answer of DefendWilliam Hughes vs. Guy T. Shaffer, ant R. E. Wenger Company filed. et al. Note, demand $500. Answers Cross-complaint of Defendant R. E. of Defendants Shaffer and Shaffer Wenger Company filed. filed. Reply to second paragraph of Pearl G. Duke vs. Homer G. Duke. answer. Divorce. Answer of defendant filed. Gaynelle Stilson vs. Opal Roberts. Verified motion for change of venue Damages, demand $340. Answer of defrom county filed and List fendant in general denial. of counties Delaware Anderson Loan Association VS. county remaining after striking, Cecil P. Keesling, et al. Foreclose cause sent to Delaware court. Five mortgage, demand $2,100. Separate days to perfect change. answer two paragraphs of DefendCarl Spetzmesser VS. Arthur Cart- ant Doris Meister filed. wright et al. Note, demand $1,285. Default of defendant. Submitted, The oldest living things on the evidence heard, finding for plaintiff earth are the giant redwood trees in on note in the sum of $1,150.50 prin- California.