Citizens Bank - Hope, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: February 1, 1929*
Location: Hope, Indiana (39.304, -85.771)

Metadata

Model: gpt-5-mini
Short Digest: 88a75839

Response Measures

None

Description

Article (May 29, 1929) describes the Citizens Bank as having been closed by national bank examiners in February and a receiver arranging collections and claim filings (final date June 22). No run or reopening is described; a receiver is handling claims, indicating permanent closure/receivership.

Events (2)

1. February 1, 1929* Suspension

Cause: Government Action
Cause Details: Closed by national bank examiners (government examiner action) in February, leading to suspension of operations.
Newspaper Excerpt: closed by national bank examiners on ruary
Source: newspapers

2. May 29, 1929 Receivership

Newspaper Excerpt: Receiver is Making Arrangements to Collect From Others. ... June 22 Last Day for Claims. ... The Citizens' bank has been pronounced recently ... the reopening the Citizens' institution ... receiver ... filing claims the bank ... receiver making arrangements with Mr. Ellis to pay his assessment ... the receiver is making arrangements to collect from others. (The Republic, 1929-05-29).
Source: newspapers

Newspaper Articles (1)

1. May 29, 1929 The Republic Columbus, IN

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Article Text

OUT OF ON STOCK IN HOPE BANK Receiver is Making Arrangements to Collect From Others. RUSH OF CLAIMS SEEN JUNE FINAL DATE, so LESS THAN TWOTHIRDS HAVE BEEN FILED, STATEMENT. Sixteen of the stockholders National bank payments 100 per made against them the failure the being made Charles from some yet paid, learned The six stockholders who have paid their held stock of the face value of 600. or nearly of the total issue $30,000 for which the funct bank Howmade arrangements with Mr. Ellis to pay his assessment of and settled few days, piece of property having been sold to take care of obligation. An action looking toward dian for Arthur years of age, who is in ill been instituted circuit court here. when matter pleted an assessment made against Galbraith expected to be paid. Next Payment Monday. This will leave only four other stockholders who have not met their Stewart, the time that closed by national bank examiners on ruary after of $130.had sustained through his alleged stack the bank. His affairs in bankpart the ment stock be paid, the bank being listed along other general creditors. First payment the stock second Monday. Under the law. banks given the privilege paying period of four months. the being month apart. When the made the notes to Ellis while the themselves do not draw failure to payments the dates sults in an interest charge being added. June 22 Last Day for Claims. While looking toward the reopening the Citizens' bank has been pronounced recently was after the clósof the Citizens institution. said be progressing. Those supporting the proposal to have evolved plan which be submitted the comptroller of the Washington for approval within short time. August the the today called attention to the fact that June 22 the date for filing claims the bank. than the claims been listed the where Mr. Ellis and Mr. Wildman make their for this reason rush during the next three weeks. When nouncement made several that would those the bank deluged days. but when learned that would by filing and that plenty time had been allotthe filing activity stopped almost as suddenly had begun.