5661. Old First National Bank & Trust Company (Fort Wayne, IN)

View Charter #3285 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
3285
Charter Number
3285
Start Date
August 3, 1933
Location
Fort Wayne, Indiana (41.131, -85.129)

Metadata

Model
gpt-5-mini
Short Digest
3ec9fe30

Response Measures

None

Receivership Details

Depositor recovery rate
90.0%
Date receivership started
1933-11-02
Share of assets assessed as good
51.4%
Share of assets assessed as doubtful
37.1%
Share of assets assessed as worthless
11.6%

Description

Articles describe the Old First National Bank & Trust Company operating on a restricted basis since the banking holiday and later the appointment of a receiver (E. C. Miller) in early November 1933. There is no description of a depositor run in the articles; the sequence is a suspension/restriction followed by receivership (closure). Dates derived from articles: Aug 3, 1933 (report of restricted operations) and Nov 3–10, 1933 (reports of receiver appointment).

Events (4)
1. January 12, 1885 Chartered
Source
historical_nic
2. August 3, 1933 Suspension
Cause
Government Action
Cause Details
Operating on a restricted basis since the banking holiday (federal/state banking holiday actions and restrictions).
Newspaper Excerpt
The Old First National Bank and Trust Company ... has been operating on restricted basis since the banking holiday.
Source
newspapers
3. November 2, 1933 Receivership
Source
historical_nic
4. November 3, 1933 Receivership
Newspaper Excerpt
protest ... against the appointment of Miller as receiver for the Old First National bank here. ... The Old First National bank has 30,000 depositors and 1,400 ... The aggregate frozen deposits exceed $6,000,000.
Source
newspapers

Newspaper Articles (11)
1. August 4, 1933 The Indianapolis Star Indianapolis, IN
Article from The Indianapolis Star, August 4, 1933

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cided upon at a meeting of the organization's board Mrs. Daniels, president, was in Washington last night. New Fort Wayne Bank Would Release 6 Million FORT WAYNE, Ind., Aug. 3.(U.P.) Plans for of new bank with $1,000,000 capital were approved by directors of the Old First National Bank and Trust Company, in special meeting today The plan calls for the immediate release $6,000,000 in restricted deposits of the old bank. The new institution would be known as the Na tional Bank of Fort Wayne. The Federal government would be partner in the proposed new institution, take the place of the Old First National Bank Trust Company The latter has been operating on restricted basis since the banking holiday.

2. November 3, 1933 Journal and Courier Lafayette, IN
Article from Journal and Courier, November 3, 1933

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BANK RECEIVER Protest to Farley Widens Breach in Feud Between Senator and State Chairman Peters. FORT WAYNE. Ind., Nov. (INS) into the open of feud between United States Senator Frederick Van Nuys Indiana, State Chairman Earl Peters today in the telegraphic protest sent by Nuys from Los Cal., to Democratic Chairman James ley in Washington against the apof ceiver for the Old First National bank here. Miller took over his duties toFrank Cutshall, had been president of the $6,000,000 institution Word received here was that Nuys wired Farley that "Miller's appointment constitutes repudiation of our repeatnew and square the citizens was that State Chairman Peters backed Miller for the The Old First National bank has 30,000 depositors and 1,400 The Van Nuys telegram also protested, said, against the appointment of the legal firm Peters Leas here as attorneys for bank Peters only week or so ago suffered defeat hands Governor Paul McNutt with whom differed over the bandling the party's funds in diana.

3. November 3, 1933 The Tribune Seymour, IN
Article from The Tribune, November 3, 1933

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Washington, Nov. Senator VanNuys, Indiana, today lodged protest with master general James Farely against the appointment of Miller as receiver for Old First National Bank Vt. Wayne, Ind., and the firms Peters and Leas as attorneys. Asserting his recommendation had been "completely and he has "continuously manded that the receiver and his attorney for this bank be lected solely upon the basis efficiency and experience" telegraphed Farley that the pointment constituted pudiation of our repeated prom to the people of square R. Earl Peters is head of firm of attorneys for ceiver. Peters is Indiana state democratic chairman.

4. November 4, 1933 The Indianapolis Star Indianapolis, IN
Article from The Indianapolis Star, November 4, 1933

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PETERS'S VICTORY ROUSES VAN NUYS State Chairman's Choice Gets Appointment-Senator Objects Sharply. BY EVERETT C. WATKINS. Nov. Earl Democratic state chairman of Indiana, today again scored Indiana' Democratic senator, FredVanNuys, when he once more obtained an appointment through the Roosevelt administration that did not VanNuys indorsement. While Peters is happy about the appointment, VanNuys is so indignant that from far-away California Postmaster Farley who also Democratic national chairman, protesting against having his own indorsement Twice by the Cabinet member hands out VanNuys, his spunk aroused. carry his protest to the White House. Broke Over Per Cent Club. The break between Peters and Governor McNutt recently into the open in the controversy the per club. long between Senator VanNuys and the Demochairman flared Controller Currency Connor acting upon PetersFarley E. Miller Fort receiver for the Old National First bank at Senator VanNuys recommended Laplante former bank president, for the Fort Wayne short Patrick Maloney ago Columbia City, by State Chairmna man to Senator the behest Postmaster General Farley, treasurer of the home owners loan corporation. Peters ebtained this appointment personal friend while VanNuys was cationing with VanNuys California as member inquisitorial committee, Peters obtained another choice plum and that he stands high with the Rooseevlt administration. No High Regard for Farley It is no secret that Senator VanNuys has no high regard for Postmaster General Farley, the Roosevelt patronage boss, but the fact feud has developed him and Indiana's Democratic chairman is just now coming into the Senator VanNuys, in the pointed message Postmaster General Farley, protests against what he considers "repudiation of our repeated promise of and square deal the of VanNuys, his indignation running high, voices protest against the Roosevelt Cabinet member pletely his be the Fort Wayne bank The asserts he had that only merit considered in the naming of bank receiver and an attorney for the ceiver He intimates that political given the ceptance of the Peters recommendaPostmaster General Farley had no comment protest. understood he considered the advice of Peters, rather than VanNuys, should accepted, because the bank is located in Peters's home Doesn't Care About Attorney. Peters not succeeded in having his choice named for bank receiver, but member of his own firm of Peters Leas expected to be for the ceiver It said, that VanNuys has little interest in who named but that he does object to having recognition go to "mere state chairman" rather than to senator the matter who shall be recommended for bank resenator objects to receivership being treated as "political Senator VanNuys's telegram, sent from Angeles, follows hereby desire to form ally your of receiver for Old First National bank of Fort This rethan thirty thousand depositers fourteen hundred stockholders. The aggregate frozen deposits exceed $6,000,000. that the and his attorney for this bank be selected upon the efficiency and experience. have completely ignored on of of the city of Fort Wayne and the citizens that dearest interests are involved in receivership as aforesaid hereby filing my formal protest to what believe to our repeated of and square deal to the citizenship of Indiana. Peters Holds Grudge. It is known Peters has had grudge against Senator VanNuys for time, being the charge the chairman that the senator has recommended only "enemies" Peters. VanNuys seeking appointment "enemies of Peters,' has Peters to get busy, using his with the Roosevelt administration, to get some of his friends to trolled by the administraOne of the made upon recommendation of VanNuys that irked Peters was that of Stemanager the Fort Wayne of the home owners The break VanNuys and Peters one that cheered by Lew Ellingham, editor of the Fort Wayne who has been urg. ing the overthrow of Peters as state While Peters has lost the friendship both and the senator to have high standing with the Roosevelt administration. General Farwas the that Peters sought advance nomination while McNutt and VanNuys were The appointment of bank not firmation, 80 that Senator VanNuys

5. November 10, 1933 The Indianapolis Star Indianapolis, IN
Article from The Indianapolis Star, November 10, 1933

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FARLEY EVADES ROW OF VAN NUYS, PETERS WASHINGTON Nov. pointments of bank receiver and his attorneys for the Old First Na. tional Bank of Fort Wayne, Ind., that brought wide breach between Senator Indiana) and R. Earl Peters. Indiana closed issue as far as Postmaster General James Farley is concerned. When asked today about Senator VanNuys's protest against naming E. C. Miller as receiver the firm of Peters Leas the postmaster general said the appointments had been made by the controller of the currency and that he would take no hand in the matter Farley said reports published in Indiana that Peters had resigned or would resign had not reached him, and that the Indiana chairman had a Federal appointment with him

6. November 10, 1933 Leader-Tribune Marion, IN
Article from Leader-Tribune, November 10, 1933

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FARLEY DROPS PETERS ISSUE Postmaster General Says Cause of Peters-VanNuys Breach Is Closed Issue With Him. Washington, Nov 9. ments of bank receiver and his at torneys for the old First National Bank of Fort Wayne, Ind., that brought wide breach between Sen Van Nuys. (D., Ind.), and R. Earl Peters, Indiana state democratic chairman, is closed issue as far as Postmaster General James A. Farley concerned. When asked at his press conferonce today about Sen. Van Nuys' protest telegraphed from Los Angeles Calif., against naming E. C. Miller receiver and the firm of Peters and Leas as attorneys, the postmaster general said the appointments had been made by the comptroller of the currency and that he would take no hand in the matter. Farley declined to discuss the dispute further, except to say he had replied to the Indiana senator to the effect the appointments already had been made The Democraic national chairman was out of the city when Sen. Van Nuys' protest arrived last week. Van Nuys characterized the appointment as a "repudiation" of the pledge of the democratic party "to the people of Indiana for new and square deal. In his protest he did not mention by name J. B. E. La Plante, of Vincennes, whom he had recommended for the receivership. but laid emphasis on the fact his recommendations had not been accepted Referring to the new appointees, the senator said that he had been devoting his time in an effort to bring about action that would be "in the best interests of the citizenship of

7. November 10, 1933 The Richmond Item Richmond, IN
Article from The Richmond Item, November 10, 1933

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Complaint Is Ignored By Farley Appointments at Fort Wayne Which Caused Breach Between Senator and R. Earl Peters Upheld By National Democratic Chairman WASHINGTON, Nov. pointments bank receiver and attorneys for the old First National bank Fort Wayne, Ind., brought wide breach between Senator Van Nuys, Democrat, IndiEarl Indiana Democratic chairman, closed issue far Postmaster General James Farley is concerned. When asked at his press conferabout Van Nuys' protest from geles, Calif., against Miller receiver and the firm Peters Leas attorneys, postmaster general said the appointhad been made comptroller the currency and that would take no hand in the mat- Farley declined to discuss the pute further, except say he had replied to the Indiana senator the hate the smell pa's pipe, effect the appointments already had but when he quits been made. harder up with than any The Democratic national chairman kind out the city when Senator Syndicate) protest arrived last Van Nuys characterized the pointment "repudiation" of pledge the Democratic party the people of Indiana for new and deal." In his protest square not mention by name Plante, Vincennes, whom he had recommended for the receivership. laid emphasis the fact his not been cepted. Referring to the new appointees, the senator said had been devoting his time effort bring that would be the interests the citizenship Fort Wayne." He did not mention that the Indiana chairman member of the firm of Peters Leas. Farley said reports published in Indiana that Peters had resigned would resign had not reached and that the Indiana chairman had not discussed federal appointment him. Both rumors already have been denied by Peters. Farley's denial of reports of dis(Continued on Page Two)

8. November 10, 1933 The Indianapolis News Indianapolis, IN
Article from The Indianapolis News, November 10, 1933

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Farley Affirms Appointment of Bank Receiver Despite Protest of VanNuys. The News Bureau, Albee Building. WASHINGTON, November of Miller, former Wayne (Ind.) receiver of the Old-First National Bank of that city, to stand despite the vigorous protest of Senator Frederick VanNuys to James Farley. national Democratic chairman, who dictated appointment at the quest Earl Peters, Indiana state chairman. "Not Senatorial Patronage." Farley replied to VanNuys, saying the appointment went through "regular channels" and pointing that bank receivers were not regarded as senate patronage. The national chairman not deny Peter's choice the controller of the curPeters had "played ball with rency. Chicago" and was not to turned down an appointment his home made known. in his had the and of the defunct bank had been tion of banker Ft. Wayne for receiver had been ignored. Farley Sets Out Attitude. Selection of Miller carried with of Fay Leas, one of the naming Peters's law partners and brotherattorney to the receiver. Farley made clear he would conconsult VanNuys Indiana tinue which may termed patronage that he would continue consider Hoosiers for offices not thus classified. He disclaimed knowledge of the of Peters. denied applicant for federal

9. November 10, 1933 Evansville Courier and Press Evansville, IN
Article from Evansville Courier and Press, November 10, 1933

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Farley 'Through' Bothering About Van Nuys, Peters Naming of Ft. Wayne Bank Receiver Closed Issue, Demo Chieftain Says WASHINGTON Nov. pointments of bank receiver his attorneys for the Old First National bank of Fort Wayne Ind. that brought breach between Senator Van Nuys (D., Ind.) and R. Earl Indiana state democratic closed issue as far Postmaster General James A. Farley concerned. When asked at his press conference today about Senator Van Nuys' protelegraphed from Los Angeles, against naming E. Miller receiver and the firm of Peters and Leas as the postmaster general said the appointments had been made by the comptroller of the currency and that he would take no hand in the matter. The democratic national chairman was out of the city when Senator Van Nuys' protest arrived last week. Van Nuys characterized the appointment "repudiation of the pledge of the democratic party "to the people of Indiana for new and square In his protest he did mention by name B. E. La Plante of Vincennes, whom he had recommended for the receivership but laid emphasis on the fact his

10. November 10, 1933 The Tipton Daily Tribune Tipton, IN
Article from The Tipton Daily Tribune, November 10, 1933

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FARLEY REJECTS VAN NUYS KICK Says Indiana Bank Receivership Appointment Is Closed Incident. STANDS BY PETERS Washington, Nov. 10. Appointments of a bank receiver and his attorneys for the old First National bank of Fort Wayne, Ind., that brought a wide breach between Senator VanNuys (D.. Ind.). and R. Earl Peters. Indiana state Democratic chairman. is a closed issue as far as Postmaster General James A. Farley is concerned. When asked at his press conference yesterday about Senator VanNuys' protest telegraphed from Los Angeles, Calif., against naming E. C. Miller as receiver and the firm of Peters & Leas as attorneys, the postmaster general said the appointments had been made by the comptroller of the currency and that he would take no hand in the matter. Farley declined to discuss the dispute further, except to say he had replied to the Indiana senator to the effect the appointments already had been made. VanNuys characterized the appointment as a "repudiation" of the pledge of the Democratic party "to the people of Indiana for a new and square deal." Referring to the new appointees, the senator said that he had been devoting his time in an effort to bring about action that would be "in the best interests of the citizenship of Fort Wayne." He did not mention that the Indiana chairman is a member of the firm of Peters & Leas. Farley said reports published in Indiana that Peters had resigned or would resign had not reached him, and that the Indiana chairman had not discussed a federal appointment with him. Farley's denial of reports of discussion about the federal position for Peters revived interest in the latter's possible candidacy next for the Democratic nomination for United States senator. VanNuys contended appointments were arranged between Peters and Farley even though the comptroller of the currency actually names the receiver.

11. November 10, 1933 The Call-Leader Elwood, IN
Article from The Call-Leader, November 10, 1933

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FARLEY EVADES INDIANA FIGHT Washington, Nov. 9.-Appointments of a bank receiver and his attorneys for the Old First National Bank of Fort Wayne, Ind., that brought a wide breach between Senator VanNuys (Democrat, Indiana) and R. Earl Pet. ers, Indiana state Democratic chair man, is a closed issue as far as Postmaster General James A. Farley, is concerned. When asked today about Senator VanNuys' protest against naming E. c. Miller as receiver and the firm of Peters & Leas as attorneys, the postmaster general said the appointments had been made by the controller of the currency and that he would take no hand in the matter. "Repudiation of Party Pledge." VanNuys characterized the appointments as a "repudiation of the pledge of the Democratic party to the people of Indiana for a new and square deal.In his protest he did not mention by name J. B. E. LaPlante of Vincennes,