5774. Huntingburg Bank (Huntingburg, IN)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
February 22, 1929
Location
Huntingburg, Indiana (38.299, -86.955)

Metadata

Model
gpt-5-mini
Short Digest
b2f2995f

Response Measures

Full suspension, Books examined

Other: Bank failed permanently and placed in receivership; indictments followed relating to fraudulent warehouse receipts tied to Wallace Milling.

Description

Depositors began heavy withdrawals after the failure of the Wallace Milling Company; bank was ordered closed Feb 21-22, 1929 and placed in receivership (receiver appointed March 1929). The institution did not reopen and later legal actions/indictments followed.

Events (3)
1. February 22, 1929 Run
Cause
Local Shock
Cause Details
Failure of the Wallace Milling Company (major borrower) led depositors to withdraw funds and precipitated liquidity strain.
Newspaper Excerpt
In February, depositors started withdrawals ... with the result that the bank could not meet their demands and the state banking examiners on February 22 ordered its doors closed.
Source
newspapers
2. February 22, 1929 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended after loans and mortgage exposure to the failed Wallace Milling Company left assets frozen and illiquid.
Newspaper Excerpt
the state banking examiners on February 22 ordered its doors closed.
Source
newspapers
3. March 11, 1929 Receivership
Newspaper Excerpt
RECEIVER IS APPOINTED FOR HUNTINGBURG BANK ... Mr. Sanders took charge immediately ... was appointed receiver of the Huntingburg bank, suspended business last ... March 11, 1929 article date indicates appointment then.
Source
newspapers

Newspaper Articles (11)
1. February 24, 1929 Evansville Press Evansville, IN
Article from Evansville Press, February 24, 1929

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HUNTINGBURG STATE BANK CLOSES DOORS Frozen Assets and Failure of Milling Company Blamed EXAMINER IN CHARGE Vice-President Becker De- clares Depositors Will Not Lose MERRILL R. LANKER Frozen assets and the recent bankof the Wallace Milling resulted Saturday in the failure of the Huntingburg bank to open its doors for business, according to M. state bank examiner was in Huntingburg Saturday going over the books of the institution Lawrence will return again next charge of the bank's affairs until receiver appoint- Hugo Rothert bank president, be interviewed Saturday August Becker, vice president, condition of the bank due to rumors that were circulated that followthe failure the Wallace Milling being known generally that the bank would lose money thru loans Wallace. These Becker started gradual run the bank withdrew their funds Up time bank closed doors approximately had ing about in The loans, which could not called once replenish the depleted cash funds, resulted the of busito hop to Mexico City ness, Becker his fiancee. Eagle Pass is Lawrence said that believed long the regular airway things settled lines leading from Wichita Kans. depositors would be paid in and points north to the Pacific Same Experience Reports spread like that he had The Huntingburg bank underlost or had crashed at some similar about 38 desolate general indusseven hours from the time he reorgandeparted from Abilene, his where- that time and has enjoyed abouts were continued to the present time now its third of the oldCUPID CLIPS WINGS institutions in the OF COL. LINDBERGH The Huntingburg bank was tablished in 1883. first private Eagle" WIII Curtall His Air organization and about year later in Future became state institution. the largest bank Huntingburg MEXICO Feb. and one the largest DuBois riage soon eliminate county Three the bank tacular flights Col. present quarters. which thrilled and worried large the not of said that the bank has no United but the with Friends of family of and building and loan partment who maintain offices say that he has promised Mrs building That business will Morrow curtail greatly his carried on as it was aning ambassador's have objected to the Lawrence said Saturday that prolonged air from bank offionly on account of reorganization and natural dangers of the bank will be made.

2. March 11, 1929 The Indianapolis Star Indianapolis, IN
Article from The Indianapolis Star, March 11, 1929

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RECEIVER IS APPOINTED FOR HUNTINGBURG BANK O. Sanders of this county was appointed ceiver of the Huntingburg bank. suspended business last which made The appointment Judge durby Special ing recess of the Dubois Circuit Mr. Sanders is cashier of the and for sevhas identieral years fied with the Indiana State Bankers Association Mr. Sanders took charge immediately and in conference Luther Symons of Indianapolis, bank on foot to organize new bank

3. March 15, 1929 The Herald Jasper, IN
Article from The Herald, March 15, 1929

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H'burg Bank Receiver Appointed At the hearing for appointment of a receiver for the Huntingburg Bank held here last Saturday, J. Ollie Sanders, cashier of the Birdseye National Bank, was appointed receiver and furnished bond in the sum of $75,000, by Judge pro tem W. S. Hunter. The following new cases were filed in circuit court here this week: Wesley Wade vs. Southern Railway Co. Damage $2000. Richard Meurer by N. M. Meurer vs. Gustave Wissner. Damages $5,000.

4. April 28, 1929 Evansville Courier and Press Evansville, IN
Article from Evansville Courier and Press, April 28, 1929

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SIX INDICTED IN FAILURE OF BANK AT HUNTINGBURG JOSEPHINE CONRAD, NEAR DEATH, SAYS SHE FIRED PISTOL BONDS OF $500 President Rothert Charged With Conpiracy to Violate Miss Margaret Maley Slightly Wounded in Row Warehouse Act Following Saturday Morning Party Attended by Socially Prominent, Including G. Woman Mayoralty Candidate Five Officials of Bank, Milling Company Head Named in True Bills April (Special) the arrest of the Huntingand other officials institution warrants sued on grand jury indictments result of the bank's crash, the number now under bond in connection with the case is six Rothert, been president the than years, charged conspirviolate act Others arrested yesterday are: Alvin cashier the bank, charged conspiracy to violate warehouse and embezzlement; Elmer Heitman Louis Poettker, assistant cashiers, charged with TAKEN WEDNESDAY The Don Wallace, head of the Wallace Milling company. Arthur Katterhenry, director of the Huntingburg Both are charged conspiracy to violate the warehouse act Each man was placed under bond on the dictment and all made immedOther indictments were returned the grand jury no arrests those indicted have not been made pub- An incomplete confession, admitting that she had shot her best friend, Miss Margaret 28, through the right thigh, and then turned the weapon herself self was made late yesterday by Mrs. Josephine ("Dodie") Greene Conrad, This partial unsatisfactory in details most since failed establish motive, all that police have obtained to explain shooting affray which took place at the palatial Maley home, 1203 South Second street, at 3:45 o'clock yesterday morning following party at the residence. The indictments against Rothert for the house act the the failure the Wallace Milling company Huntingburg The failure the milling caused the crash of the Hunting burg said The Wallace Milling company failed last Huntingburg bank trustee, holding $150,000 mortgage against the milling firm did it, don't know all the young matron only NEAR DEATH would say Mary's hospital Her very Prosecuting Attorney Menzies Deputy Wilbur Dassel and Chief Detectives Heneisen hesitated question further because condition The bullet 25 calibre and fired from pocket tered right breast Mrs Conrad pierced the liver out again just above the left hip An performed she removed to the hospital WOUND Miss returned hospital first aid suffering wound thigh bullet entered from behind, missed the bone, and came the front the thigh without any great Her recovery Both members group the denied they were the the but admitted earlier acording to police and detectives Mrs. Conrad and Miss Maley inseparable friends despite that apartment 1034 South Mrs. Conrad made home Maley apartment, two blocks Miss BANKS DOORS CLOSED MRS. JOSEPHINE CONRAD the child Mrs. ConJosephine Conrad, better In February, depositors started rad, Josephine Anne lived known as "Dodie" Greene the bank. nurse, Miss Arlie Collins with the result that the near death in St. Mary's hospital The bank could not meet their demands the result suicide attempt the Prosecutor Lindsey Chief state banking examiners home of Miss Maley early eisen. Detectives and the Maurice Bell 22, doors closed morning after shooting and February had placed their Miss the party Maley and rad argument fully which each there being Hey! Hey! Old twin LEFT THE ROOM In Limelight Over Miss Maley then Booze and 'Rents' told when she found Conrad the (By Universal Service) hand ready Bloomington, April herself Maley then struggled with Conrad said told police the struggle was After saw that Miss Maley had been shot, Mrs. Conrad gun her right breast say from the bullet the Maley's thigh concluded that Miss Maley must have fleeing Powder burns the dress and brassiere of Conrad. what close range the TELLS ABOUT PARTY At the hospital yesterday when questioned by Lindsey Chief Conrad stated did that Maley but later the consistently failed assign Mrs Susie Beeler Van Orman present the party the the ing the Van Friday meeting in the interests for mayor the republican ticket Dr. John from Vigo councame here Friday for Mrs. Van Orman, Harold two Hewitt's Haute, returned the McCurdy operated Mrs Orman, where Orman her political Conrad, two Mrs. friends have her came to the and asked them Miss Maley's party. Orman Miss Marietta Sicilia. Miss Jessica Green. Mrs. Conrad and secretary Mrs Orman, went with group to Maley ASKED TO RETURN Mr Orman catch train for and Van Ormans Dr. Hewitt and his friends left o'clock Mrs. Van Orman that time every was (Continued on Page Two)

5. April 28, 1929 The Evansville Journal Evansville, IN
Article from The Evansville Journal, April 28, 1929

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SIX INDICTED FAILURE OF BANK HUNTINGBURG JOSEPHINE CONRAD, NEAR DEATH, SAYS SHE FIRED PISTOL BONDS OF $500 FIXED President Rothert Charged With Conpiracy to Violate Miss Margaret Maley Slightly Wounded in Row Warehouse Act Following Saturday Morning Party Attended by Socially Prominent, Including G. Woman Mayoralty Candidate Five Officials of Bank, Milling Company Head Named in True Bills April (Special) arrest Hugo Huntingother officials warrants on grand indictments the result the bank's crash, number now under bond in connecwith the case six. Rothert, who has been president the institution than years, charged to violate the Others arrested are: Alvin Eulenstein. cashier the bank. charged conspiracy to violate the warehouse and embezzlement: Elmer Heitman Louis Poettker, assistant cashiers, charged with TAKEN WEDNESDAY The others, are Don Wallace, head the Wallace Milling company, and Arthur Katterhenry, director of the Huntingbank. Both are charged conspiracy to violate the warehouse act. Each man was placed under bond each count the dictment and all made bond immedOther indictments were returned the grand jury but, no arrests names indicted have not been made pub- The indictments against Rothert, for alleged the warehouse act, are the outgrowth of the failure of Wallace Milling comof Huntingburg. The failure the milling company turn caused the crash of the Huntingburg Wallace Milling company failed bank named holding $150,000 mortgage against the milling firm. BANKS DOORS CLOSED In February depositors started the result that the not their and the state February 22, ordered its doors closed. Many had placed their wheat the the Wallace Milling company. Under financial pressure, the milling company the wheat tide the firm over, charged. When dewheat, not had, was the wheat said. was because this that the charging conspiracy violate the warehouse act were brought. An incomplete admitting that she had shot her best friend, Miss Margaret Maley, 28, through the right thigh, and had then turned the weapon herself in of destruction, was made late yesterday by Mrs. Josephine ("Dodie") Greene Conrad, This partial explanation, unsatisfactory in most details since failed to establish motive, all that police have obtained to explain mysterious shooting affray which took place the palatial Maley home, 1203 South Second street, at o'clock yesterday morning following a party at the residence. did it, don't know all the matron, only few months NEAR DEATH would say Mary's hospital. Her recovery very doubtful, say, Prosecuting Attorney Menzies Lindsey, Deputy Wilbur Dassel and Chief hesitated question further because bullet calibre and fired pocket tered the right breast Mrs. Conrad pierced the and abdomen tore out again above the left hip performed she was moved to the hospital WOUND Miss who returned her to from the hospital after receivfirst aid from superficial wound in thigh. The bullet entered missed the front the causing any damage. Her recovery arise. was stated. Both girls, members the younger society group the city. denied that they the time the shooting. but earlier night, acording to police and deMrs. Conrad and Miss Maley were inseparable friends, despite fact that she maintained an apartSouth street, Mrs. Conrad made her home Maley. only blocks Miss Maley's MRS. JOSEPHINE CONRAD the child of Mrs. Josephine Josephine Anne Conrad. lived "Dodie" Greene Conrad, nurse, Miss Arlie Collins. near death St. Mary's hospital The story, pieced together by the suicide the Prosecutor Chief home of Miss Margaret Maley early with Detectives Maurice Bell yesterday morning after shooting and Hamsley, that Maley. the party Miss Maley and Mrs. Conhad an argument. Both fully dressed. but were which each ocupied, there being Hey! Hey! Old twin LEFT THE ROOM Miss Maley then left the bedroom she told them, and when she returned found Mrs. Conrad the small automatic hand ready shoot herself Miss Maley then struggled with Mrs. Conrad. have told the was that had shot, Mrs. Conrad held her right and detectives say. However, from the way which the bullet entered rear Miss detectives concluded Miss Maley must been shot. Powder burns visthe dress and brassiere of showing what close range the TELLS ABOUT PARTY At the hospital late yesterday when Lindsey Chief HenMrs. Conrad first stated she did know that Miss Maley shot, but the failed Mrs Beeler Van Orman present the party preceding the events ing Mrs. Van political meeting in Division Friday for the republican ticket. Dr John state from Vigo who came here Friday campaign for Mrs. Van Orman, Harold Van and two Hewitt's Haute, had the Hotel operated Van Orman her political Miss Maley and Conrad, two Mrs. friends supporting her candidacy. the and asked them Miss Maley's party, Orman Miss Marietta Sicilia, Miss Green. cousin Mrs. Conrad and secretary Mrs. Van went the group to the Maley ASKED TO RETURN Mr. Van Orman catch for Decatur and the Van Orand Dr. Hewitt his friends left at o'clock, Mrs. Van Orman At that time every (Continued on Page Two)

6. May 3, 1929 The Herald Jasper, IN
Article from The Herald, May 3, 1929

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SIX ARRESTS Charges of Conspiracy and In Indictments Hugo C. Rothert, president of the Huntingburg bank, and three other officials of institution were arrested Friday on warrants issued on grand indictments the result of the bank's crash on February 22. who has been president the for years, with conspiracy to violate the act. Others arrested Alvin Eulenstein, cashier of the with to violate the charged conspiracy act, and mer Heitman and Louis sistant cashiers, charged with bezzlement. The others who appeared voluntarily and furnished bond last Wednesday, Don Wallace, head the Wallace Milling company, and Arthur director the Huntingburg henry, bank: Both charged with conspirto the warehouse act. placed under bond Each was each count in the indict$500 on all furnished bond immediment and ately. indictments were returned Other the but, no arrests having grand jury made, the names of those indicted been have not been public. The indictments against Eulenstein, Wallace Katterhenry alleged of the warehouse for result the failure of the of Milling of HuntingWallace company The of the milling comburg. is alleged to have brought pany in turn the crash of the Huntingburg about bank. Wallace milling failed The company December. The bank named trustee, holding $150,000 the milling firm. mortgage against depositors started February $230on the bank, that the could 000, with the result demands and the state not meet their banking examiners on February 22 dered its doors closed. Many farmers their wheat of the Wallace Millin the elevators Under financial pressing company sold the the milling company ure, to tide the firm over, wheat the demanded charged. When wheat, not to for their the wheat available, had, nor was this that said. was to the the warehouse act were brought.

7. May 13, 1929 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, May 13, 1929

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HIGHWAY CHIEF FACES TRIAL Wedeking Indicted Two Weeks Ago: Not Arrested. Albert J. Wedeking, chairman of the state highway commission and cashier of the Dale State Bank, was indicted for violation of the warehouse act two weeks ago, but has not yet been arrested, it was learned today. Details of the charge have not been made public. Prosecutor Stanley Krieg of Dubois county admitted Saturday to the Evansville Press that indictments had been returned against Wedeking and Gilber Landgrebe, Huntington. He said that neither had been arrested, that the offense charged was minor and that bond of $500 would be asked. The indictments are the aftermath of the failure and receivership of the Wallace Milling Company of Huntingburg he said. This failure was said to be the cause of the closing of the Farmers and Merchants Bank, Dale, Nov. 19, 1928, and the Huntingburg State Bank, Huntingburg, Feb. 21, 1929. Both banks were ordered closed by the state banking commissioner. Landgrebe was an official of the Huntingburg bank. Wedeking declared at Dale today that he would have nothing to say regarding the charges until he had been officially notified of them.

8. May 13, 1929 Vidette-Messenger of Porter County Valparaiso, IN
Article from Vidette-Messenger of Porter County, May 13, 1929

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WEDEKING INDICTED GRAND JURY Chairman State Highway Commission is Charged with Violation of the diana Warehouse Act. JASPER, Indiana, May Wedeking of Dale, Ind., chairman of the Indiana highway and former instructor at the University of Nebraska, and Gilbert Landgrebe, Ind., banker, were indicted by the Dubois county grand jury here on April 19th charges of violating the Indiana warehouse act was learned here today when became known that Sheriff Joseph Kordes had warrants for the arrests of the two men. The true against the was said have been returned connection with the receivership of the Wallace Milling company Huntingburg, Ind., the failure which was blamed for the closing the Farmers and bank of Ind., inand the Ind., State Bank. Institution. Prosecutor Stanley Krief of the home is at Ind., said today that for the two men would be fixed at each. Inspection statutes showed that warehouse acts. One passed in and the other 1921. The range from $50.00 fine and one year the county jail to $5,000 fine and five years in the state The joint circuit court presided over by Judge Homer Traylor. The Dale bank closed its doors on November 19, 1928. The Huntingburg bank suspended operations February 21, 1929. Both banks now are in State Banking Commissioner Luther Symons, has indicated that there may be to depositors in both banks. Wedeking was former instrucin the Valparaiso high school.

9. May 31, 1929 The Herald Jasper, IN
Article from The Herald, May 31, 1929

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BANK RECEIVER AUTHORIZED TO PAY CREDITORS 30% On the petition of the receiver, James Sanders, an order was issued from Dubois circuit court here Saturday afternoon granting payment of 30 cent dividend to creditors of the defunct Huntingburg bank, which failed last February Distribution of the 30 per cent dividend. however, will take some time since there are more than 2,000 crediSanders declared. Notice will be given when payment ready, he said. ALUMNI ASSN. TO MEET The Jasper Aacademy Alumni Assn. will hold its annual and meetnoon Sunday, June in Kundek hall. From returns received to date from alumni. the indicaare that the attendance will be the largest in the association's history. Rev. Chrysostom Coons, B., of Dale, former professor at the local school, will be the principal speaker. trophy will be awarded the class having the largest attendance. prize will be awarded to the coming the longest distance. The program the day will be published next week. Commencement The 40th commencement of Jasper Academy will be held at M. on the same date. 21 graduates will ceive their Rev. Dominic Barthel, rector of Meinrad Prepartory will liver the address.

10. January 10, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, January 10, 1930

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# STATE WILL TAKE # BANK PROBE HAND Accepts Invitation to Join Huntingburg Failure Investigation. Attorney-General James M. Ogden today announced his office will take a hand in a new grand jury in-vestigation of the Huntingburg bank failure being launched upon order of Judge John L. Sumner of the Dubois circuit court. a warehouse of the milling company which was covered by fraudulent warehouse receipts. Similar securities were involved in the Huntingburg bank failure, it was disclosed by C. M. Lawrence, state examiner, who got Symons to order the institution closed and placed in receivership. Hugo Rutherford, Huntingburg, was president of the bank. Directors declared the bank held more than $65,000 in uncollectible assets. Largest borrower was the Wallace Milling Company.

11. October 11, 1930 Evansville Courier and Press Evansville, IN
Article from Evansville Courier and Press, October 11, 1930

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BROTHERS SUE BANK OFFICIALS Receiver and Directors of Defunct Institution Named in Fraud Suit for $50,000 JASPER, Oct. Edwin and Joseph Mueller, Ferdinand, former owners of the Ferdinand mill, have filed suit in Dubois circuit court against James O. Sauders, receiver for the defunct Huntingburg bank, and Arthur Katterhenry, August Becker, William Heitman and Rauscher, directors of the bank, for charging they were defrauded their mill through transactions Roland and Donald now under sentence two years in prison for violation the state in with the failure mill at Dale. with the bank. The complaint states that the WalInce brothers sought purchase the Mueller brothers' mill for ferring the owners to Hugo Rothert, former cashier of the Huntingburg bank, for their own property. told them the Wallace mill stock was good and advised them to sell, the three brothers charge. The terms called for $20.000 cash and $27,000 in Wallace Milling company bonds. Failure of Wallace Milling company and the Huntingburg bank frauded them of any return from the sale of their property, the complaint states.