5700. Farmers & Merchants State Bank (Geneva, IN)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
November 14, 1928
Location
Geneva, Indiana (40.593, -84.960)

Metadata

Model
gpt-5-mini
Short Digest
ea8aa1a3

Response Measures

Full suspension, Books examined

Other: Directors closed bank to 'conserve the assets'; state examiners took charge; receiver later appointed.

Description

Contemporary reports (Nov 14–19, 1928) describe a run on the Farmers & Merchants State Bank in Geneva; directors closed the bank and summoned state examiners, it failed to open subsequently and the state petitioned for a receiver, with a receiver appointed by Nov 19/23. Cause of the run is not given in the articles (cashier said he did not know), so I classify the immediate cause as 'other' and note the suspension was precipitated by the run. Dates chosen from newspaper publication dates.

Events (3)

1. November 14, 1928 Run
Cause Details
Article states there was a run but the cashier said he did not know the cause.
Measures
Directors closed the bank to conserve assets and sent for state bank examiners.
Newspaper Excerpt
Following run on the bank, the board directors of the Farmers and Merchants State bank...closed the bank today to conserve the assets and sent for state bank examiners to take charge.
Source
newspapers
2. November 14, 1928 Suspension
Cause Details
Directors closed the bank after the run and awaited state banking officials/examiners.
Newspaper Excerpt
Bank failed to open for business today. Sign on the door said: Closed pending arrival of state banking officials.
Source
newspapers
3. November 19, 1928 Receivership
Newspaper Excerpt
A hearing on a petition for a receiver for the Farmers and Merchants State bank here will be held...The bank failed to open a week ago. Luther F. Symons, state bank examiner, has declared it insolvent and in a failing condition.
Source
newspapers

Newspaper Articles (10)

Article from The Times, November 14, 1928

Click image to open full size in new tab

Article Text

Bulletin GENEVA. Ind., Nov. Following run on the bank, the board directors of the Farmers and Merchants State bank, $250,000 institution here, closed the bank today to "conserve the assets and sent for state bank examiners to take charge. The bank was closed for three weeks in 1923 but was reopened when $60,000 was raised to tide the institution over. E. B. Gauker, the cashier, said he did not know the cause for the run on the bank. MEXICO CITY, Nov. 14. Captain Jesus Obregon committed suicide by shooting himself last night after prison officials had disarmed him when he announced his intention of killing Jose Leon Toral, confessed assassin of General Varo Obregon. The newspaper Grafico said Captain Obregon drew revolver in front of Toral's cell in the federal district prison but guards prevented him from shooting.


Article from The Times, November 14, 1928

Click image to open full size in new tab

Article Text

Bulletin GENEVA, Ind., Nov. (I.N. Following run on the bank, the board of directors of the Farmers and Merchants State bank. $250,000 institution here, closed the bank today to "conserve the assets and sent for state bank examiners to take charge. The bank was closed for three weeks in 1923 but was reopened when $60,000 was raised to tide the institution over. E. B. Gauker, the cashier, said he did not know the cause for the run on the bank. MEXICO CITY, Nov. 14. (U.P.) Captain Jesus Obregon committed suicide by shooting himself last night after prison officials had disarmed him when he announced his intention of killing Jose Leon Toral, confessed assassin of General Varo Obregon. The newspaper Grafico said Captain Obregon drew revolver in front of Toral's cell in the fed. eral district prison but guards prevented him from shooting.


Article from The Star Press, November 15, 1928

Click image to open full size in new tab

Article Text

BANK DOORS ARE CLOSED AGAIN Directors Act After Viewing Depositors' Demands. Ind., Nov. Farmers and Merchants State Bank of Geneva failed to open for business today. sign on the door said: "Closed pending arrival of state banking officials." Gauker, cashier, asserted the directors held special meeting last night the thought advisable to close the institution. The same bank closed for organization 1925, which time stockholders assessed 50 and directors pledged per payment times to depositors. The pledge still on the wall of the bank and thought that liquidation, all depositors will be The state bank examiner arrived today All books balance, according to Gauker. SYMONS IS INVESTIGATING. Nov. Symons, bank today investigate affairs the Farmers chants bank capitalized Should liquidate the bank. said the banking department office. will the first case the kind in Indiana in five months.


Article from The Indianapolis Star, November 18, 1928

Click image to open full size in new tab

Article Text

GENEVA BANK RECEIVER CASE SET FOR TUESDAY Hearing on the state's petition for appointment of for the Farmers and Merchants State bank at Geneva will be held in the Adams county Circuit Tuesday cording to Luther state bank Mr. Symons filed the petition Friday. The petition alleged that the bank unsound financial condition and is necessary to safeguard interests of depositors and other creditors


Article from Garrett Clipper, November 19, 1928

Click image to open full size in new tab

Article Text

JAY TOBIAS AND ORCHESTRA PLEASE GARRETT AUDIENCE very enjoyable program presentby Jay Tobias and the berg concert orchestra composed three ladies and one man featured the last evening's of the Evening Star festival given Thursday evening the gymnasium. Mr. Tobias in all his renditions presented only original numbers during the entire gram proved delight to the audiTobias, who the composer the musical comedy, Percy," booked solidly the next years is often spoken of the greatest comedian since Bill Nye. The program opened with Mr. Tobias dressed chef directing orchestra of four members with large spoon, announcing that the audience would served "full in courses from the for the evening. During the evening Mr. Tobias gave several of both men and women, all in costume, number, and played several selections the piano with his feet well his hands. His selections the piano accordian and logues relating his experiences during World war, including his draftfrom the hills of Kentucky, received. school sketch with Miss Scott the teacher and Mr. Tobias first Mary, who next as indifferent, indolent and school and last the lady been taking training in voice Wayne and comes back as an accomplished vocalist, made very entertaining number. The program closed with from Fortune Teller" and Wanta Be Happy." Farmers and Merchants bank Geneva failed to open business sign on the door said: "Closed pending arrival state banking officials." Gauker, cashier. asserted the direoheld special Tuesday following on the bank, and thought advisable close The first case ever filed in Indiana courts in which band asks limited on record Logansport, by Charles Raykey, who seeks from bed and board period of his charges that Raykey continually nags and that his with railroad company jeopardy by her activities. straining order against her him for the ten years also


Article from The Indianapolis Times, November 19, 1928

Click image to open full size in new tab

Article Text

Receiver Asked for Bank By Times Special GENEVA, Ind., Nov. 19.-A hearing on a petition for a receiver for the Farmers and Merchants State bank here will be held before Judge Jesse Sutton, in Adams circuit court at Decatur, Tuesday. The bank failed to open a week ago. Luther F. Symons, state bank examiner, has declared it "insolvent and in a failing condition."


Article from The Star Press, November 19, 1928

Click image to open full size in new tab

Article Text

GENEVA BANK RECEIVER CASE SET FOR TUESDAY Indianapolis. Nov 18 -Hearing on the state's petition for appointment of receiver for the Farmers and Merchants State Bank at Geneva will be held in the Adams County Circuit Court Tuesday according to Luther Symons, state bank commissioner Mr. Symons filed the petition Friday The petition alleged that the bank is in unsound financial condition and a receivership to safeguard interests of depositors and other


Article from Evansville Press, November 19, 1928

Click image to open full size in new tab

Article Text

Chicks Roost On Bumper Chickens that, true to tradition, came home to roost but selected a novel place for their rest, furnish new motor story. Ed Clark, Gradealer at Deloraine, Manitoba, reported the incident to the factory at Detroit, as follows: "Mr. B. Tiernan, prosperous farmer, drove to town last night in his 610 sedan. On his arrival, he wondered at the unusual attention his car was causing. Investigating, he found four of his chickens on his front bumper. They had roosted there when darkness fell, and clung to their perch thru the seven-mile drive to town.' To Name Bank Receiver Tuesday By United Press GENEVA, Ind., Nov. 19.-A hearing on petition for a receiver for the Farmers and Merchants State bank here will be held in Adams circuit court Tuesday before Judge Jesse Sutton. The bank failed to open Luther F. Symons, state bank examiner, has declared failing condition.


Article from The Evansville Journal, November 19, 1928

Click image to open full size in new tab

Article Text

Chicks Roost On Bumper Chickens that, true to tradition, came home to roost but selected a novel place for their rest, furnish. new motor story. Ed Clark, Graham-Paige dealer at Deloraine, Manitoba, reported the incident to the factory at Detroit, as follows: "Mr. B. Tiernan, a prosperous farmer, drove to town last night in his 610 sedan. On his arrival, he wondered at the unusual attention his car was causing. Investigating, he found four of his chickens on his front bumper. They had roosted there when darkness fell, and clung their perch thru the seven-mile drive to town." To Name Bank Receiver Tuesday By United Press GENEVA, Ind., Nov. 19.-A hearing on a petition for receiver for the Farmers and Merchants State bank here will be held in Adams circuit court Tuesday before Judge Jesse Sutton. The bank failed to open Tuesday.. Luther F. Symons, state bank examiner, has declared the institution "insolvent and in failing condition.


Article from The Indianapolis News, November 23, 1928

Click image to open full size in new tab

Article Text

MILROY BANKS MERGED Depositors in Both Institutions to Be Paid Full, Official Says. Announcement made Friday by the state banking the merger Friday the Milroy situated Milroy Rush the First Bank, of both banks are to be in full, Thomas D. Barr, deputy he in line with the department's policy reducing number the less popuknown as the First National Bank of Milroy Court Names Geneva Bank Receiver. Ind., November Bank Geneva today was appointed Farmers Merchants Bank, the town. the The appointment made by Adams circuit had in charge of the closed turned its assets over the receiver.