1.
February 14, 1929
The Republic
Columbus, IN
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STEWART CHARGED WITH EMBEZZLEMENT $45,000 FROM CITIZENS NATIONAL
Bound Over to Federal Grand Jury and is Released on $25,000 Bond Signed By Joseph A. SpaughAdmits Manipulations, Report.
Ind., Feb. A. StewIndianapolis, cashier of the Citizens National Bank at Hope, Ind., arrested here this afternoon charges of embezon zling $45,000 and was bound over to the federal grand jury. Bond was set at $25,000 and was provided by Joseph Spaugh, Stewart's Stewart was arrested in downtown office building here by Charles LaSalle, United States marshal. The Citibank failed to this morning after examination open by Bert K. Patterson and John Utt, federal bank examiners. said he had 200 of land in BartholoStewart acres mew county and other valuable property that he intended to dispose of and make up the deficit in his accounts. He admitted manipulating funds of the bank and losses in unwise investments.
The National bank. of Hope, failed to open its doors this Citizens described by John of Fort Wayne, national morning. Indiana district, resulted in direcbank examiner for the tors of the institution passing resolution against reopening, specmeeting. Conditions discovered examination of the bank's books have Albert Ward. United States district attorney, at Inbeen referred to Utt said. Asked if criminal prosecution will result from dianapolis, Information which he to Mr. Ward, Utt answered, "Possibly." gave bank will not asked steps would be taken. He said on the condition of the bank been sent to W. Pole, and that receiver will appointed within days take charge of the bank and wind its affairs. Until that time he be in charge, Mr. Utt declared. national state banks, liable for the stock which they hold, Mr. Utt said. of the bank's books the first part this week. Mr. Utt and two assistants had the and when this the the them. the Mr. Utt they then the against bank today. Yesterday business conducted there to locate officials and the bank and obtain from them Hope reported that Martin Holder, president; Miller, Hercashier, and othbusiIn long distance with while he was learned that officers the bank had conferred with him there this morning. Mr. expected to return charge of the pending the He said the capacity of porary such is named by controller of currency Can Hear Plenty. regulations prohibitMr. going into detail found the bank. When he described the found bank he asked for details. hear plenty down Hope, said, explaining the same time that bank examinnot permitted to go into their Word bank failed open within short time and this was the chief topics of sation throughout the day. Merchants here this morning were warned against accepting the institution, the explanation that while the institution might cept would mean on number persons who residents of this among those affected by the closof the bank, as they were positors, was today. The number of increased several ago when residents this city protest against the being made by local withdrew their placed them banks Hope and other places, Regarded Strong Bank. Residents Hope, tain any very the bank's difficulties. were feel that the closing the would prove, serious matter. On streets Hope general belief that "frozen had brought about the Citizens bank for years has the strongrural banks in this section state. For nearly quarter has paid stockholders cent. interest result its stock great demand. The bank capitalized at $30,000 and addition $20,000 and undivided surplus $11,000. Joseph president (Continued on page 8)
2.
February 14, 1929
Palladium-Item
Richmond, IN
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CITIZENS NATIONAL BANK AT HOPE, IND., FAILS TO OPEN DOORS
Feb. The Citizen's National bank of Hope, near here. failed to open this morning and John Federal bank examiner said he had referred the Albert United States district The bank $30,000. Martin H. Holder president.
DEATH CHAIR READY Feb. The electric chair, in Cook county penal circles, tested day found ready to exact night, reprisal for murOnly court action could the three sentenced to be electrocuted midnight. They Shanks, negro slayer JenConstance. Charles Walz and Anthony Grecco. killed PoliceArthur Esau.
MINER HURT Feb. Birtle years miner this city. fatally injured today struck vania railroad locomotive here. board the train ride to he has been working in the American No. mine which reopened recently Both legs severed from Robert's body and he died within minutes.
3.
February 14, 1929
The Times
Hammond, IN
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$100,000 DEFALCATION
HOPE, Ind., Feb. Citizens National Bank Hope, $400,000 national bank, closed here reported from reliable was that the bank's closing due $100,000 defalcation. The following notice was posted the bank's resolution of the board of directors, the National Hope closed at m. today."
4.
February 14, 1929
The Times
Hammond, IN
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$100,000 DEFALCATION
HOPE, Ind., Citizens National Bank Hope, Ind., $400,000 national bank, closed here today. It reported from reliable that closing due to $100,000 defalcation. The following notice was posted the bank's resolution of the board of the Hope closed today."
5.
February 15, 1929
The Huntington Press
Huntington, IN
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MORE BANKS CLOSE DOORS
Ind., Feb. the Savings and Trust Bluffton failure of Farmers of this morning, total banks closed in Wells county within mass meeting of citizens has been to enlist in opening bank here to carry on business. on the Union Savings and Trust company was said be responsible closing of that and an $18,000 on the Montpeller, prevented its opening today. unwise The bank was capitalized at H. Holder is president, Marly reports were that Stewart had fled but it was learned that the cashier had arranged to meet one of the examself to of the His defalcations were said to have extended over some period of time.
Bank Is Solvent Fred J. Tangeman, president of the Union billits, declared that the bank was antirely solvent and that directors hoped to the in due time without to depositors or The bank had of mately $1,000,000. The Farmers Deposit bank had deposof approximately $500,000. Buy Bracken to The Wells president. county bank, with deposits of $1,250,000 closed yesterday morning few hours later the State Bank of Uniondale closed. Petitions for receivers a filed in the circuit court here late Festerday for both banks. The Bank of Petroleum and Center State bank also closed
Effect Not ar-Reaching Luther F. Symons, state bank commissioner, in a statement issued at Inlisnapolis today, declared that the staMilty of the banking situation in the state should not be affected by the warlous banks in Wells county. He shid the situation had been brought about by the continual agitation of bank. Ing problems growing out of the Studebaker bank failure two years ago. He said it was his opinion that most, if not all of the banks would come out of their present difficulty with very lit. the, if any loss to the depositors.
CASHIER IS HELD INDIANAPOLIS, Feb. 14 man A. Stewart, cashier of the Citizens' National Bank, of Hope, Ind., was arrested here this afternoon by United States marshal on charges of embeazling $45,000. The bank failed to open this morning, following check of the books by the bank examiners. Bond for Stewart was set at $25,000 which was proby Joseph A. Spaugh, relative. Prior to his arraignment, Stewart said had 200 of land in Bartholoacres tnew county and other valuable property which he intended to dispose of in order make up his deficit in his account. He admitted manipulating the bank's funds and said he bad suffered losses
6.
February 15, 1929
The Tipton Daily Tribune
Tipton, IN
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Indianapolis, Feb. -Following the closing yesterday morning of the Citizens National bank at Hope, Bartholomew county, Herman A. Stewart. cashier, was arrested here on a Federal warrant charging embezzlement of $45.000
7.
February 18, 1929
Effingham Daily Record
Effingham, IL
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THE EFFINGHAM DAILY RECORD
Entered as second class matter 1898 at Effingham, III., under the act of March 1878.
Effingham Daily Record Founded 1898 LICRONE PRESS BUILDING 110, 112, 114, 116 N. BANKER ST. EFFINGHAM, ILLINOIS
WARNING ISSUED AS MORE BANKS IN INDIANA FAIL
Indianapolis, Ind., Feb. 16.-FollowIng the closing today of more banks, Luther F. Symons, state bank commissioner, tonight issued statement asserting that the general stability of Indiana banks is assured, and urging depositors not to spread rumors might cause runs. Not A bank in Bluffton. Ind., remains open, and only the Craigsville State bank, the Farmers State bank, at Ossian, and the State Bank of Poneto, remain open in that county. Wells County bank was closed yesterday, and the Union Savings and Trust company was closed today. State banks are also closed in Wells county at Petroleum, Liberty Center, and Uniondale, and Farmers' Deposit bank, at Montpelier, nearby, was also closed today. The Citizens' National bank, at Hope, was closed today and Herman A. Stewart, age sixty-five, arrested, charged with 845,000 failure, at Bluffton, started the wholesale collapse there. Sullivan authorities tonight announced they have received tip that James Lang, president of the Citizens' Trust company there, who absconded some time ago with several thousand dollars, wrecking the Institution, has been traced to the Pacific The numerous Indiana failures are laid to crooked bank officials, negligende on the part of the official examiners, public hysteria, and straightened circumistances in rural areas.
8.
February 28, 1929
The Republic
Columbus, IN
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PROPER COURSE TO STEWART PUZZLE
Conference Fails to Bring Solution of Problem.
SECOND MEETING SOON
RECEIVER, BANK CASHIER AND DISCUSS BUT MAKE NO DECISION. three-hour conference yesterday at Hope failed to bring about for the disposition of the Herman Stewart, cashier the Citizens National bank Hope, which closed after shortage of some $100,had discovered by tional bank examiners. second effort will be made within the next days when another conference be held. The meeting was held at the bank Hope Stewart, Charles Ellis, of Muncie, who receiver for the bank: Ralph H. Spaugh, of this city, torney Stewart, and Rollin ner, Greensburg, attorney for the
Wanted an The requested Ellis and his attorney. that he would turn his property his the bank. The feeling there should some definite that some looking the of the property should be taken, asked that the meeting be held. on being arrested the day the bank closed, that would his property to The fact that large amount farm land involved and that liquidate this together with certain the other assets once would mean sacrifice of the things which was brought ing conference The attitude of those at the session that some plan, which would conserve the greatest possible degree assets, should be evolved The suggestion has been made that the land be operated under or trusteeship agreement, whether this done not been determined.
Bank Claims Not Preferred. Stewart's which has estimated gross value consists 500 of farm land in this and Shelby counties, livestock farming implements valued $20,000, some real estate Hope his personal property. Mortgages against the real total debts and liabilities expectto bring the value property close to the $40,000 mark. One of the farms which he owns being operated by tenant who verbal and who has interest the livestock wheat crop of the farm. Other affect other farm land which Stewart owns the operation of which he supervised. Through receivership action, Stewart would be entitled certain part his property, between $5,000 $10,000, he insisting that arrangement decided upon shall include provision her the extent which she is entitled under the law.
With claims of many personal creditors and those of the bank against the property, the plan by which over and by which to made firms whom indebted somewhat difficult to outline. All creditors on the footing, understood, being ferred. Stewart held stock the Citizens bank, some $4,000, and this with other liable per cent ing to Directors of the baik sought to have this claim placed in preferred list but after conferrwith were informed that could not take precedence mortgages against his real estate, of take claims. Along with other general the bank will have claim for the amount of the funds which he alleged have embezzled.
9.
March 12, 1929
The Republic
Columbus, IN
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RECEIVER WRIT SEIZE STEWART ASSET
Sheriff Ordered to Take Property Valued at by Court.
SUIT ON NOTE
FILED
ELLIS. CITSEEKS CHEAT CREDITORS.
BULLETIN
Indianapolis, March 12. petition involuntary ruptcy filed here today by four against Herman Stewart, former cashier Citizens National bank of Hope. Stewart arrested several weeks ago charge $45,000 from bank. The listed Freeman Gilliland, Floyd and Charles H. Ellis, is receiver the bank. The total amount named the four is $114,637.
Armed with attachment Sheriff Alonzo Fitch was Hope this and personal property belonging to Herman Stewart the value of tween $1,700 and The writ issued Judge Sharpnack circuit court request Charles H. Ellis, ceiver the Citizens National of Hope, of which Stewart formerly cashier and directing head. Under this order Sheriff Fitch said he would seize livestock, grain implements total the cost the stituted the receiver. Sheriff he place this in the custody resident until tion the file. Ellis. for assets the defunct which its doors tine's Day bank On the same day Stewart federal officers of $45,000 from the bank. free bond, which The note held by the bank was given Dec. 31, 1928, was period of days. the petition the bank alleged that disposed his which to executhat done fraudulent intent to cheat, hinder and delay creditors. The Tremain Greenshurg. Shinn, of this When arrested, announced that he over property, the estimated value which $50,000, creditors and to help make his accounts bank, being estimated about Efforts his attorneys to get control property, have and impatient what they feel they brought suit, and tained of attachment, understood.
10.
March 13, 1929
The Richmond Item
Richmond, IN
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IDENTIFIES TWO OIL STATION HOLDUP
O., March Identification of Roy White, 20, Chickasaw, Okla., and Wilmer Collmer, Cincinnati, two members the trio that held him an station night, and him the abdomen, made today by James Thomas, attendant station. Both White and Collmer, with Paul 20, Muncie, Ind., held authorities charged counterfeit quarters. when they awaiting arraignment before United States Collmer Workman by Hamlet, drugstore proprietor of Covington, two members that held him Sunday night robbed him $350. Hamlet could not identify White. Thomas could not identify WorkFederal authorities agreed that Thomas should his wounds, the identified the for murder charge.
BANKRUPTCY ASKED March petition involuntary bankruptcy filed today four against Herman Stewart, former cashier Citizens National Hope, Ind. Stewart arrested several weeks charges of $25,000 emthe bank. The are Gilliland. Floyd Simmons and Charles H. Ellis, who receiver the bank. The total amount named by the creditors is $114,637.
11.
March 19, 1929
The Indianapolis Times
Indianapolis, IN
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ACCUSED BANK OFFICIAL'S WIFE FIGHTING BACK Asserts Some of Property Seized in Hope Case Not Liable. COUNTY WANTS MONEY Demand Return of Funds Deposited in Closed Institution. By Times Special COLUMBUS, Ind., March 19.-Efforts of Bartholomew county authorties to seize all property of Herman A. Stewart, indicted cashier of the Citizens National Bank of Hope, closed after discovery of a shortage of $100,000, 1 are being countered by a replevin suit brought by Mrs. Mary E. Stewart. The accused man's wife is seeking return of livestock valued at $150 which with all other property of Stewart in Bartholomew and Shelby counties was seized on attachment writs to force restitution of at least some of the money Stewart is charged with taking. Mrs. Stewart alleges the livestock was owned by her alone and therefore can not be legally held for her husband's obligations. Sheriff Alonzo E. Fitch is defendant in the replevin action. Attachment writs served by the sheriff were issued at the instance of Charles H. Ellis, receiver of the bank. Clarence A. Brooks, Bartholomew county treasurer, is demanding from the bank an immediate settlement of $6,962.20 in county funds on deposit at the time of the closing. Five of seven men who signed a bond to protect the county against loss at the time it deposited funds in the Hope bank sought to obtain a delay in pressing a claim for settlement, asserting that if immediate payment was demanded, they would be forced to borrow money. They also expressed a belief that the bank would be reopened soon. Brooks, however, refused to grant a delay, asserting that as treasurer he is responsible in case a loss should occur.
12.
March 29, 1929
The Edinburg Daily Courier
Edinburg, IN
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WILDMAN PAYS ASSAULT FINE
Spaugh Files Second Charge Against Bank Receiver's Aid.
Columbus, Ind., March 28. August K. Wildman, 22, ant to the receiver of the Citizens National bank at Hope. this morn ing plead guilty in the court of Henry Barmes, justice of the peace at Hope, to charge of assault and battery in connection with some trouble which he had Tuesday with Joseph A. Spaugh, 70, forme president of the Citizens bank Wildman was fined $1 and costs, making $10.60 in all, Barmes and this he paid. The charge, the second one to be preferred against Wildman by Mr Spaugh, was filed this morning and soon afterwards George Hitchcock. constable, arrested Wildman and took him into the justice the peace court. Yesterday Wildman was arrested here by Sheriff Alon ZO E. Fitch charge of making slanderous statement, this, too having been preferred by Spaugh. He is free on bond of $100, pending hearing in this case. Statement by Wildman's Attorney. The charge of assault and bat tery grew out of the fact that Wildman took hold of Mr. Spaugh's arm and turned him part way around when he made the allegeo slanderous remark to the prosecut ing witness, Lloyd C. Bryer, of this city, who represents Wildman in the slander said. case, Wildman did not want to lose any more time from his work than necessary and therefore went into court and paic his fine, rather than take the time required contest the case. Mr Bryer said. Mr. Spaugh alleges that Wildman interrupted him and Jesse Smith, resident of Hope, while they were talking on street in Hope and said: "You are crook. You are #: big a crook as Herman Stewart thief and so are you." Mr Bryer in discussing this alleged slanderous statement said that if his client did say this, and that he was not admitting it was said. believed Wildman was speaking the trouble which occurred at the Herman A. Stewart home. north Hope, Saturday night when Sherif Fitch went there to seize an auto mobile. Wildman contends that Mr Spaugh sat in car during the trouble there and that he neither made any effort to aid the sherify or to stop his son, William Stewart The Stewarts Monday paid fines the court of Stanley Cooper, jus tice of the for assault peace, and battery in connection with an at tack which they made on Wildman Wildman, according to his attor ney, was not referring to any the affairs of the Citizens bank in his statement to Spaugh, if he made the statement, Mr. Bryer de clared. Mr. Spaugh contends that he just drove up to the Stewart home as the trouble there ended. Spaugh Issues Statement. Mr. Spaugh today issued state ment in which he said the trouble between him and Wildman grew out of the fact that he had signed bonds for Herman Stewart his He said that "at time have condoned or made excuses for Herman Stewart's great wrongs. And, while my sympath: for his family may be greater that my judgment, feel that have acted within my right and the law Mr. Wildman, in the presence of another man, came to home my with veiled threat Saturday night as to what the consequences be if signed any more of Her man Stewart's bonds. invite the whole world to search the gloomy catalog of this bank for anything did that ever had the appearance of wrong. never overdrew my bank account in my life. cannot conceive how could take something for nothing."
13.
April 26, 1929
The Republic
Columbus, IN
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HOPE BANK RECEIVER SUES ON TWO NOTES
Charles H. Ellis, receiver of the Citizens National bank, of Hope, has filed suit in circuit court here against Marjorie and Raymond Wolford. complaint on two notes, demand $750. One of the notes IS for $200 and was drawn Feb. 5. 1929. The other one is for $400 and was drawn Nov. 20, 1928, according to the complaint. Interest on each of these was at the rate of 7 per eent.
The American Red Cross was incorporated by an act of congress in 1905.
14.
June 6, 1929
The Republic
Columbus, IN
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REOPENING OF HOPE BANK UP COMPTROLLER
Official Will Request InvestiFirst, Those Intergation ested Believe.
CENT CUT ASKED
TO PAID IN FULL CLAIMS K'D. plan looking toward the opening of the now defunct zens National bank of Hope been submitted Pole comptroller currency Washington, his reaction proposal being awaited by persons interested seeing the reestablishment of the bank, was learned today. No indication has been given as when may expectfrom Pole, suggested today that probably will ask for an and report by Charles Ellis, of Munthe fairs of the bank receiver. Mr. Ellis has not been asked for report, is understood. Under the plan submitted. all creditors of the be asked claims cent, understanding that an fort made after the reopenthe institution to pay creditof the profits of the Then ing this deduction, $60,000 stock will and the bank organized. of the money tained the stock would used to the bank's indebtedness, the remainder would constitute the capital and surplus. The sale the stock has practically been understood, pledges been made for the entire amount, sponsoring the reopening the institution
Some Creditors Paid.
If the approval of the comptrolof currency obtained, rangements then have made general creditors of the bank, positors, that they agree take cent their claims. Sponsors the plan declare that creditors will the bank and paid claims than the affairs of the institution are wound up under the ceivership. Some the creditors the have been paid by Mr. Ellis authorization from the of rency. Under this the National bank Indianapolis, has paid $24,this institution having held security to indemnify against Claims totaling have been approved and receiver's cerbeen issued these claims, totaling to be made, to records the bank, and these few claims listed on the books are expected be filed. Claims filed include those of depositors other of the bank. When records the bank the claims filed by creditors receiver's certificates issued However, no record found the bank, the all the rency for his approval or Creditors until June file claims. After that date
(Continued from page
15.
June 7, 1929
The Edinburg Daily Courier
Edinburg, IN
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HOPE BANK UP TO COMPTROLLER
Creditors, However, To Be Paid Full Later, Expectation$259,767 Claims K'd. plan looking toward the opening of the now defunct Cit: zens National bank of Hope ha been submitted to W. Pole, comp troller of currency at Washington and his reaction to the proposa now is being awaited by person interested in seeing the re-establish of the bank, was learned ment today. No indication has been given to when an answer may be expect ed from Mr. Pole, although it wa: suggested today that he probably will ask for an investigation and report by Charles H. Ellis, of Mun cie, who is now in charge of the af fairs of the bank as receiver. Mr Ellis has not yet been asked for report, it is understood. Under the plan submitted, creditors of the bank will be asked to cut their claims 40 per cent with the understanding that an effort will be made after the reopening of the institution to pay credit ors full out of the profits of the business. Then with creditors agree ing to this deduction, stock will be sold and the bank Part of the money organized. tained from the sale of stock would be used to settle the bank's indebt edness, and the remainder would constitute the capital and surplus The sale of the stock has practi cally been assured, it is understood as pledges have been made for the entire amount, persons sponsoring the of the institution reopening have announced. Some Creditors Paid. If the approval of the comptrol ler of currency is obtained. ar rangements then will have to be maile with the various general creditors of the bank, including de positors, that they will agree cent of take the 60 per payment their claims. Sponsors of the plar declare that creditors will realize more if the bank is reopened and 60 per cent is paid on all claims if the affairs of the institu than tion are wound up under the Some of the secured ceivership. creditors of the bank already have been paid by Mr. Ellis on authorization from the comptroller of cur rency. Under this arrangement the National bank of Indianapolis, has been paid $24, institution having held this collateral security to indemnify against loss on its claim. Claims totaling $259,767 have been approved and receiver's certificates have been issued on these Additional claims, totaling $75,000, are yet to be made, according records at the bank, and besides these few claims not listed on the books are expected to be filed. Claims filed include those of depositors and other creditors of the bank. When records in the bank and the claims filed by creditors are in accord, receiver's certificates are issued immediately. However, when no record is found in the bank, the claim, together with ali available information concerning it, is sent to the comptroller of currency for his approval or rejection. Creditors have until June 22 in which to file claims. After that date all claims will be outlawed, it understood. To Close at Noon Saturday. Mr. Ellis maintains his office in the room formerly occupied by the bank, the fixtures and equipment of the institution not having been disposed of. In the past the office has been open on Saturday afternoons, but in the future it will closed at noon on Saturdays, August Wildman, assistant to the received, announced today. Under this arrangement Mr. Ellis will be enabled to go to his home in Muncie for and Mr. Wildman will be able to go to his home in Lafayette. The office is open from 8:30 o'clock until 12 o'clock in the morning and from o'clock until week except Sateach day urday.
16.
July 13, 1929
The Indianapolis Times
Indianapolis, IN
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THREE ARE BANKRUPT Two List Indebtedness of $25,000 to Citizens National Bank of Hope. Listing indtebedness of more than $25,000 to the Citizens National Bank of Hope, Ind., now in receivership, two Columbus (Ind.) men have filed voluntary bankruptcy petitions in federal court. William C. Galbraith, farmer, listed $41,561 liabilities of which nearly $14,000 represents notes held by the bank, and assets of $9,947. Charles F. McCallie. real estate agent, listed $33,130 liabilities, including a similar amount owned to the bank, and $10,407 assets. McCallie was a director in the bank. Charles G. Irvin Hamilton county farmer, listed $17,251 liabilities and $14,210 assets in another petition.
17.
October 12, 1929
The Indianapolis Times
Indianapolis, IN
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RECEIVER OF DEFUNCT BANK SUES ON NOTES Three Actions Brought for $5,700 Due Institution at Hope. Three suits to recover a total of $5,798 on notes held by the defunct Citizens National bank of Hope. have been filed in federal court by Charles H. Ellis, receiver. Defendants and judment asked are: Rush W. Isley and L. M. Isley, R. R. 4, Shelbyville, $898; John G. Schaefer, Hope, $3,500, and Willie R. Carman, Cecil B. Carman and Georgia A. Isley, $1,400. Herman A. Stewart, former cashier, of the bank, has pleaded guilty to nine counts of a federal indictment charging embezzlement, which resulted in closing of the bank.
18.
January 29, 1930
The Tribune
Seymour, IN
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NEGLIGENCE CHARGED TO HOPE BANK HEADS
Receiver of Institution Says It Was Not Conducted Rightly.
By Associated Press Indianapolis, Jan. H. Ellis, receiver of the defunct Citizen's National Bank of Hope. filed federal court equity suit here yesterday, charging direct of the institut with negli gence in handling its affairs. The bank was closed following exposure of approximately $100, 000 shotage in the accounts of Herman, A. Stewart, cashier. He now is serving a penisentence on charges of embezzlemeut. The suit places responsibility for on the shoulders of the twelve di rectors of the institution The bank was closed last Feb. 14. In a voluminous detailed report of the bank's financial status. Ellis set out that the total deficit of the institution was $155,397. 24. He charged the directors with failure to exercise ordinary diligence in ollowing Stewart to supervise affairs of the bahk. Three for a total of $6,380 now are pending federal court against debtors of the bank.
19.
March 5, 1930
The Indianapolis Times
Indianapolis, IN
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# NAME FORMER BANK
# AIDS IN COURT SUIT
Receiver of Hope, (Ind.) Institution
Seeks Judgment of $17,450.
Judgment of $17,450 is asked in a suit filed in federal court against William H. Mobley, Hope, Ind., and Herman A. Stewart, former cashier of the Citizens National bank of Hope, recently convicted of embezzlement in federal court, by Charles Ellis, bank receiver.
The suit is based on three notes, two of them given to Stewart by Mobley and indorsed to the bank, and a $5,896 check given by Mobley and alleged to have been held up by Stewart and not charged against Mobley's account.
20.
March 28, 1930
The Republic
Columbus, IN
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HOPE BANK RECEIVER SUES ON MORTGAGE
Charles H. Ellis, receiver for the Citizens National bank, of Hope, has filed a complaint in the Bartholomew circuit court against Roy Kent and Ethel Kent, on a promissory note, demanding $1,740. The complaint also seeks to foreclose mortgage on 40 acres of land in Hawcreek township. The return date is set for April 12. The complaint is in five separate paragraphs. The first sets out that Roy Kent and Ethel Kent issued their promissory note to the bank for $1,000 at per cent interest on March 26, 1927, at which time they executed their mortgage on the 40 acres The amount now due on this note, including attorney fees, is $1,375. On Dec. 1. 1928, the defendants executed their note to the Hope Poultry Breeders Association for $25, at per cent. The amount due and demanded on this note is $35. Paragraph three sets out that the defendants secured $15.63 from the Hope bank on July 9, 1928, at per cent, on which note $25 is now demanded. Paragraph four sets out that the defendants secured $55 from the bank on July 9, 1928, at 7 per cent, for which $80 is demanded. Paragraph five claims that the defendants secured $234.78 from the bank on July 9, 1928, per cent, and $350 is now demanded.