5809. Central Bank (Indianapolis, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 8, 1882
Location
Indianapolis, Indiana (39.768, -86.158)

Metadata

Model
gpt-5-mini
Short Digest
cca49caf

Response Measures

None

Description

The Central Bank in Indianapolis was closed by its directors after discovery of a $30,000 shortage caused by the teller's defalcation (Arthur Mueller). There is no description of a depositor run; the bank was placed into receivership (assignment to Judge Lamb) and remained in receivership with dividends paid to depositors over subsequent years, indicating permanent closure of the original institution rather than a simple temporary suspension and reopening.

Events (4)
1. April 8, 1882 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Discovery of a $30,000 shortage after the mysterious disappearance of teller Arthur Mueller (defalcation), prompting directors to close the bank for examination.
Newspaper Excerpt
the officers of the bank met in consultation ... he advised the closing of the bank until a further examination could be made ... the bank will remain shut until the stockholders are ready to resume.
Source
newspapers
2. April 17, 1882 Receivership
Newspaper Excerpt
The proprietors of the Central Bank of Indianapolis have made an assignment to Judge Lamb, who expresses the opinion that enough cannot be realized from the estate to pay for settling it up.
Source
newspapers
3. August 14, 1883 Other
Newspaper Excerpt
The assignee of the Central Bank has declared another dividend for the benefit of the depositors of 20 per cent., making the total since the suspension 50 per cent., and all the assets have not been realized upon yet.
Source
newspapers
4. May 30, 1885 Other
Newspaper Excerpt
Receiver Lamb yesterday paid to the county clerk an additional 10 per cent, -$5,192- to the credit of the Central Bank. Eighty-five per cent. in all has been paid in...
Source
newspapers

Newspaper Articles (13)
1. April 8, 1882 Public Ledger Memphis, TN
Article from Public Ledger, April 8, 1882

Click image to open full size in new tab

Article Text

A SHORT TELLER. $30,000 Missing and the Bank Shut Up. Not Much Margin Left. INDIANAPOLIS, April 8.-Since the mysterious disappearance of Arthur Mueller, the teller of the Central Bank, of this city, experts have been examining the books of the bank. The examination was concluded at a late hour last night, and the shortage which at first was supposed to be $2500, was found to be $30,000. The officers of the bank met in consultation at 90' clock this morning, with their attorney, and upon the information of the directors he advised the closing of the bank until a further examination could be made to verify the experts' repert. The record showing the accounts of the depositors was investigated by Mr. D. M. Taylor, who has had no connection with the bank, and he has found that large amounts have been entered falsely, some of the creditors being charged with too much overdraft, while with others were small. to the It was amounts impossible deposited tell too until all 0 accounts had been audited whether or not there was a shortage; so that while the investigation has been going h on since Muller left the city, nothing S definite could be learned until Mr. t n Taylor furnished his work last night. the the investigation, When he reported directors result met of and his e decided that it would be best for all interested to close at once; and in pursuance with that decision the bank will remain shut until the stockholders are ready to resume. r Mr. Wildman and Mr. Kennedy candid in their coaversathe latter was at had stated in press was only $2500. were tion, because the shortage and very he sick the think He feared heart that that might he to that had the attempted public mislead them. not done. g as as that This he he had had given nearly He said he of could the true account of the bank's d condition. and that while it was not 0, that that statement be h still it was to approbable disproven, then would all and to the best of his re and belief, correct. of are ct form of banking, rof knowledge the pearances, the clerical directors acquainted the statements None with and, being dependent upon he of their employes, they had been made d the victims of misplaced confidence. nt They are not yet able to tell their ex: t act condition, but are positive that none of their depositors will suffer. at Mr. Kennedy stated that the capital a stock of the bank is put at $100,000, ge and that the amount of the deposits to is about $105,000. He also said that of of cash now on hand was tis like the amount be At nothing the amount that be would if there should a run. rIts assets, se sufficient to ay and other was hsaid, on required depositors the were bank. creditors the he, protect accounts however, and the of of that all as the opinion within the bank could be netted up a er, year from this date. It is inferred re that the assets are very largely made he up of bills receivable upon real estate. he The exact amount of the shortage ecould not be given, but the Directors Care confident it would not exceed nd $30,000, an- was perhaps not so much The figures will be eft as soon as are for will not be rThere is no reckoning announced as cured, days. that. which proper they for how several long pro- is of the bank will remain shut, and it ed equally hard to tell whether the

2. April 9, 1882 Memphis Daily Appeal Memphis, Hernando, Grenada, Jackson, Vicksburg, Atlanta, Griffin, Macon, Montgomery, Selma, TN
Article from Memphis Daily Appeal, April 9, 1882

Click image to open full size in new tab

Article Text

Only a Difference of 827,500. INDIANAPOLIS, April 8.-Since the mysterious disap-pearance of Artbur Mueller, the teller of the Central Bank of this city, experts have been examining the books of the bank. The examination was conclu led at a late hour last night, and the shortage, which at first was supposed to be $2500, was found to be $30,000. The officers of the bank met in consuitation at 10 o'clock this morning with their attorney, and upon information of the directors he advised the closing of the bank unti! furth r examination could be made to verify the experts' report. The bank was according closed, and will remain 80 until the directors decide what to do. The assets are said to be ample to pay all claims, provided there is no run on the bank.

3. April 9, 1882 Daily Globe Saint Paul, MN
Article from Daily Globe, April 9, 1882

Click image to open full size in new tab

Article Text

A TREACHEROUS TELLER. An Indianapolis Bank in Dire Difficulties -A Shortage of $30,000 and Over-Bank Shut. INDIANAPOLIS, April 8.-Since the mysterious disappearance of Arthur Mueller, the teller of the Central bank of this city, experts have been examining the books of the bank. The examination was concluded at a late hour last night, and the shortage, which at first was supposed to be $25,000 was found to he $30,000. The officers of the bank met in consultation at 1 o'clock this morning with their attorney. and upon information of the directors he advised the closing of the bank until a further examination could be made to verify the expert's reports. The records showing the accounts of depositors was investigated by Mr. S. M. Taylor, who has had no connection with the bank, and he has found that large amounts have been entered falsely, some of the creditors being charged with too much overdraft, while with others the amounts deposited were too small. It was impossible to tell until all accounts had been audited whether or not there was a shortage, so that while the investigation has been going on, since Mueller left the city, nothing definite could be learned until Mr. Taylor finished his work last night. When he reported the result of his investigation the directors met and decided that it would be best for all interested to close at nce, and in pursuance with that decision the bank will remain shut until the stockholders are ready to resume. Mr. Wildman and Mr. Kennedy were very candid in their conversation, and the latter was sick at heart because he had stated in the press that the shortage was only $2,500. He feared that the public might think that he attempted to mislead them. This he had not done. He said that he had given as nearly as he could the true account of the bank's condition, and that while it was not probable that that statement would be disproven, still it was then to all appearances, and to the best of his knowlegde and belief correct. None of the directors are acquainted with the clerical forms of |banking, and being dependent on the statement of their employes, they had been made the victims of misplaced confidence. They are not yet able to tell their exact condition, but are positive that none of their depositors will suffer. Mr. Kennedy stated that the capital stock of the bank is put at $190,000, and that the amount of depoposits is about $105,000. He also said that the amount of cash now on hand was nothing like the amount that would be a required if there should be run on the bank. The assets, he however said, were sufficient to protect the depositors and other creditors, and he was of the opinion that all the accounts of the bank could be cleared up within a year from this. It is reported that the assets are very largely made up of bills receivable and real estate. The exact amount of the shortage could not be given, but the directors are confident it would not exceed $30,000, and was, perhaps, not so much as that. The proper figures will be announced so soon as they are procured, which will not be for several days. There is no reckoning how long the bank will remain shut, and it is equally hard to tell whether the present organization will ever revive. Mr. Kennedy said it would require at least one year to properly dispose of the assets. This, no doubt, means that it will require careful work to make the assets meet the liabilities, and as there is apparently so little margin it IS very probable that the bank will not survive the shock it received by the defalcation of the missing teller.

4. April 10, 1882 Wheeling Register Wheeling, WV
Article from Wheeling Register, April 10, 1882

Click image to open full size in new tab

Article Text

BANK DEFALCATION. A Teller Mysteriously Disappears with 830,000. INDIANAPOLIS, April 8.-Since the mysterious disappearance of Arthur Mueller, the teller of the Central Bank, of this city, experts have been examining the books of the bank. The examination was concluded at a late hour last night, and the shortage, which was at first supposed to be $2,500, was found to be $30,000. The officers of the bank met in consultation at 10 o'clock this morning, with their attorney, and upon the information of the directors, he advised the closing of the bank until a further examination could be made to verify,the expert's report. The record showing the accounts of the depositions was investigated by Mr. D. M. Taylor, who has had no connection with the bank, and he has found that large amounts have been entered falsely. some of the creditors being charged with too much over draft. while with others the amounts deposited were too small. It was impossible to say, until all the accounts had been audited, whether or not there was a shortage. So that while the investigation has been going on, since Muller left the city, nothing definite could be learned until Mr. Taylor furnished his work last night. When he reported the result of hisinvestigation the Directors met and decided/that it would be best for all interested to close at once, and in pursuance of that decision the bank will remain shut until the holders are ready to resume. Mr. Wildman and Mr. Kennedy were very candid in their conversation, and the the latter was sick at heart because he had stated in the press that the shortage was only $2,500. He feared that the public might think he attempted to mislead them. This he had not done. He said that he had given as nearly as he could, the true account of the bank's condition, and that while it wasn't probable that the statement would be disproven, still it was then, to all appearance and to the the best of his knowledge and belief, correct. None of the directors are acquainted with the clerical forms of banking. and beingdependent upon the statements of their employes, they had been made the victims of misplaced confidence. They are not yet able to tell their exact condition, but are positive that none of their depositors will suffer. Mr. Kennedy stated that the capital stock of the bank is put at $100,000. and that the amount of deposit is about $105,000. He also said that the amount of cash now on hand was nothing like the amount that would be required if there should be a run on the bank. The assets, however, he said. were sufficient to protect the depositors and other creditors. and was of the opinion that all the accounts of the bank could be closed within a year. The exact amount of the shortage could not be given. but thedirectors are confident it would not exceed $30,000. and was, perhaps. not so much as that. The proper figures will be announced as soon as they are procured, which will not be for several days. There is no reckoning how long the bank will remain shut, and it is equally hard to tell whether the present organization will Mr. Kenneday says it would at least one year to of the assetts. no means ever pose require resume. This. properly doubt, disthat it will require careful work to make the assets meet the liabilities, and as there is so little very apparently bank will margin. survive it is the probable that the not shock it received by the defaulcation of its missing teller.

5. April 10, 1882 Daily Globe Saint Paul, MN
Article from Daily Globe, April 10, 1882

Click image to open full size in new tab

Article Text

A TREACHEROUS TELLER. An Iodianapolis Bank in Dire Difficulties -A Shortage of $30,000 and Over-Bank Shut. INDIANAPOLIS, April 8.-Since the mysterlous disappearance of Arthur Mueller, the teller of the Central bank of this city, experts have been examining the books of the bank. The examination was concluded at a late hour last night, and the shortage, which at first was supposed to be $25,000 was found to be $30,000. The officers of the bank met in consultation at 1 o'clock this morning with their attorney, and upon information of the direc. tors he advised the closing of the bank until a further examination could be made to verify the expert's reports. The records showing the accounts of depositors was investigated by Mr. 8. M. Taylor, who has had no connection with the bank, and he has found that large amounts have been entered falsely, some of the creditors being charged with too much overdraft, while with others the amounts deposited were too small. It was impossible to tell until all accounts had been. andited whether or not there was & shortage, 80 that while the inves. tigation has been going on, since Mueller left the city, nothing definite could be learned until Mr. Taylor finished his work last night. When he reported the result of his investigation the directors met and decided that it would be best for all interested to close at ace, and in pursuance with that decision the bank will remain shut until the stockholders are ready to resume. Mr. Wallman and Mr. Kennedy were very candid in their conversation, and the latter was sick at heart because he had stated in the press that the shortage was only $2,500. He feared that the public might think that he attempted to mislead them. This he had not done. He said that he had given as nearly as he could the true account of the bank's condition, and that while it was not probable that that statement would be disproven, still it was then to all appearances, and to the best of his knowlegde and belief correct. None of the directors are acquainted with the clerical forms of (banking, and being dependent on the statement of their employes, they had been made the victims of misplaced confidence. They are not yet able to tell their exact condition, but are positive that none of their depositors will suffer. Mr. Kennedy stated that the capital stock of the bank is put at $190,000, and that the amount of depoposits is abont $105,000. He also said that the amount of cash now on hand was nothing like the amount that would be required if there should be a run on the bank. The assets, he however said, were sufficient to protect the depositors and other creditors, and he was of the opinion that all the accounts of the bank could be cleared up within a year from this. It is reported that the assets are very largely made up of bills receivable and real estate. The exact amount of the shortage could not be given, but the directors are confident it would not exceed $30,000, and was, perhaps, not so much as that. The proper figures W 11 be announced so GOOR as they are procured, which will not be for several days. There is no reckoning how long the bank will remain shut, and it is equally hard to tell whether the present organization will ever revive. Mr. Kennedy said it would require at least one year to properly dispose of the assets. This, no doubt, means that it will require careful work to make the assets meet the liabilities, and as there is apparently EO little margin it 18 very probable that the bank will not survive the shock it received by the defalcation of the missing teller.

6. April 18, 1882 Sacramento Daily Record-Union Sacramento, CA
Article from Sacramento Daily Record-Union, April 18, 1882

Click image to open full size in new tab

Article Text

April 17th. -When the new Chinese bill up to-day under a criti- of the Willis of Kentucky took the WASHINGTON, rules, was brought conclusion suspension floor in of his cism of the measure, and from the of the speech till adjournment the body was most started time in uproar and confusion, which minutes was for when Page, who was entitled to fifteen asked for a debate, instead of consuming that time, vote. He had no sooner declared his intention not floor to when Rice of Massachusetts claimed the to speak speak against the measure, but was not had recog- not nized the Speaker, who stated that he that by Willis as opposed to the bill, as gen- motleman recognized had demanded a second on the original tion. Randall asked leave to have the House vote upon at amendment fixing the term of suspension objections an fifteen years, but was met with a storm of from the Republican side. Then Springer and Kenna sprang to Rice their should feet, as a matter of justice that be permitted demanding to speak against the measure, and the a heated colloquy ensued between Kenna and parliaSpeaker, as to whether Kenna had risen to mentary inquiry, and as to his right to debate Roberts of New Jersey entered the discussion, which was being carried on in an excited manner, the and he W38 greeted with cries of Order from Democratic side. Kenna asserted his right to speak, and declared that the Chair shall not deny to me that right," to which Humphreys of Wisconsin replied that such bluster was unnecessary, as there had not been any right denied anybody. The Speaker stated that he would listen to the gentleman from West Virginia, but that gentleman had not proceeded far when again arose loud eries of " Order" from the Republican side, while Humphreys angrily exclaimed, directing his remarks to Kenna, Set him down.' shown There was a great deal of angry feeling on both sides, which led Kenna, joundly, to request no his Republican friends to have patience, and blood would be shed. Randall of Pennsylvania at this point took exception to some remark of the Speaker, and was recognized to make an explanation ; but had started in to make a speech. Then Valentine of Nebraska called " Order," and the call being taken up by other Republicans, Ranremarks were inaudible, and in a d cided tone he exclaimed that he would be heard. Valentine contended that this remark was unparliamentary, and asked that it be taken down. The Speaker-The Chair will state that he did not understand that the gentleman from Pennsylvania would be heard in spite of the Chair. Analysis of the Vote on the New Chinese Bill. WASHINGTON, April 17th. -Classifying the Greenback members according to their usual political qualifications on positions not involving financial issues, in an analysis of day's vote on the passage of the new Chinese bill, shows that 107 Democrats and 94 Republicans (total 201) were recorded in the affirmative, and that thirty-four Republicans and three Democrat (total 37) voted in the negative. These thirty-seven out-and-out, implacable and dyed in-the wool opponents of any restrictive or anti-Chinese legislation, are to be credited geographically as follows: Massachusetts 7, Vermont 2, New Hampshire 3, Maine and Connecticut 1 each, New New York 7, Iowa 5, Ohio 4, Wisconsin 3, and 1 Jersey, Pennsylvania, Indiana and Tennessee, each. The three Democrats dissenting were Bragg of Wisconsin, Hardenburg of New Jersey, and Morse of Massachusetts. The last named member made his opposition very conspicuous early this af terncon. and nearly succeeded in preventing any action on the Chinese bill for several weeks by the interposing of all the seventeen committees, each in turn, to refer it from, taking advantage of to-day's on a chance call, and thus give him behalf of the Committee on Education and Labor to offer the Chinese bill. The earnest personal appeals had the desired effect, for only five of the seventeen committees made use of their privilege, and the Chinese bill was brought before the the House without further difficulty at about usual bour for adjournment. The subsequent ?proceedings were very animated, and at times exciting; but from the moment that the bill was declared to be before the House there was not a question in the mind of any one in regard toits triumphant passage, but a contest simply for the advantage of political position, and a general scramble among men of all parties to exhibit their superior decision in the same cause. Destruction by Fire. CRISFIELD (Md.), April 17th. Seventeen stores and dwellings- third of the business section of the town-were burned last night. Loss, $75,000 insurance, $35,000. James Booth, in whose store the fire originated, has been arrested on a charge of arson. PEORIA (III.), April 17th. fire yesterday afternoon swept away the extensive distillery of Oace Furst, two miles below this city, together with the bonded warehouse adjoining Loss, $350,000. Fat cattle to the number of 700 were rescued from the pen. The Aurora Borealls. CHICAGO, April A remarkably bright aurora borealis was visible here last night. The corona was perfectly defined, extending nearly to the zenith. The air was so charged with electricity that the telegraph wires " ould not work with batteries connected, but the wires are now in operation between Chicago and New York and intermediate points, and between Chicago and Omaha. The wire between Chicago and St. Paul was closed on account of no warn ng to St. Paul to disconnect the battery The display at St. Paul is reported as very brilliant. Another Bank Gone Under. INDIANAPOLIS (Ind.), April 17th. The proprietors of the Central Bank of Indianapolis have made an assignment to Judge Lamb, who expresses the opinion that enough cannot be realized from the estate to pay for settling it up. The wives of the propriers have decided not to join in giving up their property. C. B. Cones last Friday morning liabilities mort. gaged his estate for $24,000 in cash. The of the bank are said to be $200,000. The Election Cases in South Carolina. CHARLESTON, April 17th. sealed verdict was rendered in the election cases. It is made known unofficially that defendants are found guilty of obstructing the counting of votes, but not guilty on all the other counts in the indictment The verdict is accompanied with a recommendation of mercy. The Savings Bank Failure. WASHINGTON, April 17th. The excitement about the savings bank continues. Papers were issued by Judge Hart, on of the 1 for Arrest of The charges them being and Saturday bank Ruth. afternoon resident, complaint R. J. damages the with Thompson oath a Birth hail $15.000 in conspiracy to rob the bank, and are

7. May 5, 1883 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, May 5, 1883

Click image to open full size in new tab

Article Text

ESTEEMED contemporaries which carefully avoid the publication of any news, both from necessity and choice, have had something to say in disparagement of what has appeared lately in the columns of the Journal exclusively. Of course, this paper is a newspaper, Its readers pay for the news, and they are entitled to it, and it mat- ters little what critics say who, by reason of nature or circumstances, may not be able to either know or to secure fresh information. Yet the repeated chatter respecting sensational pub- lications warrants a word or two. One of the Journal's "sensations" which worried our contemporaries, was the announcement of the suspension of the Central Bank. No other paper in the city knew of it, but in the morning the truth was very thoroughly demonstrated to the public and the creditors. Another "sensation" was the publication of the facts in regard to the Marion Trust Company, followed by the expos- ure of other similar swindles. The public knows whether these Journal "sensations" were true or not, or advantageous. Another troublesome "sensation" was the publication of the recent loss of a five thousand dollar money package. Not a little dust has been raised over this; but the reports printed in the Journal were given upon the authority of one who knew, and it is enough to say that they have never been chal- lenged. Then came the failure of the Argentine Insurance Company, the accompanying details of the affair being based upon statements made by Mr. A. A. Helfer and Mr. G. R. Root. Then followed the publication of the facts with re- spect to the relations between Dr. Pierson and the Second Presbyterian Church. The Journal did not say the Doctor had resigned his charge, but gave the fact of his having written a letter to the board of elders in which he intimated a probability of retirement in certain contingen- cies. The truth of what appeared in these col- umns as to this has not been controverted by any reliable person. The last "sensation" which has gaffed our sleepy Cheap-John prints, is the publication of the facts re- specting the negotiations for the transfer of the Bates House property to Mr. W. C. De Pauw, of New Albany. Such negotiations have been had, and the details made public were given upon the authority of Mr. Louis Reibold, the lessee of the house, who certainly ought to know. To some people all news is of the nature of "sensation," but in the current significance of the word the Journal does not publish "sensa- tions." What finds its way into its columns will be found to be reliable, and although it may

8. August 14, 1883 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, August 14, 1883

Click image to open full size in new tab

Article Text

THE FIRST NATIONAL'S AFFAIRS. The affairs of the First National Bank remain in statu quo. The most important development yesterday was the consent of the Comptroller of the Currency, which was received by telegraph, to the proposed increase of the capital stock. The bank was open all day yesterday, and transacted its business as usual. Mr. Lynch stated to a Journal reporter that he knew of nothing now to interfere with the proposed reorganization. Mr. DePauw would return from New Albany today, and he thought that all the necessary papers would be executed either to-day or to-morrow. During yesterday the bank received a number of deposits. Drafts drawn by the Parke Banking Company, of Rockville, on the First National Bank will be paid by the Indianapolis National Bank. A Central Bank Dividend. The assignee of the Central Bank has declared another dividend for the benefit of the depositors of 20 per cent., making the total since the suspension 50 per cent., and all the assets have not been realized upon yet.

9. February 12, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, February 12, 1884

Click image to open full size in new tab

Article Text

# THE CITY IN BRIEF. Sadie Berg and Sarah Breckinridge have been adjudged insane. The trial of Andrew Korner, accused of wife-murder, has been set down for trial March 17. Five men were discharged from the pest-house yesterday, having been cured of the smallpox. The new addition to the City Hospital will be opened on Feb. 28, and the occasion will be celebrated appropriately. The commencement exercises of the Eclectic Medical College will be held at English's Meridian-street Hall, this evening. W. H. Eden, accused of shooting James Weaver, with intent to kill, has been released on $2,000 bail. It is said that Weaver will not prosecute the case. Judge Lamb has asked the Circuit Court for an allowance of $5,000 for his services as receiver of the Central Bank. His law firm has previously been allowed about $1,700 for legal services. The Star Iron Tower Company, of Fort Wayne, with a capital stock of $25,000, was incorporated yesterday. The directors are John H. Bass, Oscar A. Gimans, Perry A. Randall, Henry T. Olds, and Randall T. McDonald. There will be a meeting of the W. C. T. Unions of the city at 2 P. M. to-day, at State headquarters, room 4, Abbett Building, to consider matters of vital importance. Prayer-meeting at 3 o'clock, to which all friends are invited. The Sixth-street police station will be abandoned this morning, and all persons arrested by the police will be received at the Central station again, beginning with this morning. Police Surgeon Hodges has ordered the vaccination of all persons arrested.

10. July 21, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, July 21, 1884

Click image to open full size in new tab

Article Text

THE FINANCIAL OUTLOOK. Judge Robert N. Lamb Appointed Receiver for Mr. Harrison's Bank. The Real Condition of Its Affairs Yet Unknown-The Proposed Plan for Reorganizing Fletcher & Sharpe's. Upon petition of numerous depositors, Judge Walker, of the Superior Court, on Saturday ap pointed Judge Robert N. Lamb receiver of Harrison's Bank, fixing his bond at $100,000, a reduction of $200,000 from the amount originally proposed. Judge Lamb consented to accept the trust, and during the afternoon gave the required bond, his sureties being I. N. Pattison, N. N. Morris, W. G. Wasson, J. E. Robertson and Ralph Hill. The appointment gives general satisfaction, for Mr. Lamb is known to be a man of excellent judgment and ability. He is at present receiver of the Central Bank, whose failure was at the time thought to be most disastrous. He managed its affairs so admirably that he has already paid 75 cents on the dollar, and he is now about to declare an additional dividend of 10 per cent. Judge Lamb took possession of Harrison's bank Saturday evening, and an examination of the vaults showed that the amount of cash on hand was just $63.25, mostly in nickels and other fractional currency. Mr. Lamb will this morning begin an examination of the books and papers, and he thinks he will be able to make public a statement of assets and liabilities by to morrow or Wednesday. Mr. Harrison still declines to make any statement to the reporters. MORE LEGAL PROCEEDINGS. On Saturday afternoon an amended complaint was filed by Alfred Harrison in the SuperiorCourt, reciting the facts set forth in the petition for the appointment of a receiver and setting forth in addition that he is the owner in his individual right of certain real and personal property and that the defendant, John C.S. Harrison, is the owner in his individual right of certain real and personal property, that the partnership assets of the firm are not sufficient to pay their liabilities, wherefore the plaintiff surrenders all his individual property, saving the amount legally exempt from execution, and asks the court to take possession of the property by the receiver and apply it to the payment of the partnership debts in the same manner as the receiver takes possession of the assets of the partnership. The complaint further avers that the plaintiff is informed and believes that the defendant, John C. S. Harrison, is willing to surrender his individual property for the payment of partnership debts of the firm, and the plaintiff asks that the defendant be required to answer the complaint, and in case he consents to such surrender of his individual property, the court to direct the receiver to take possession of the individal property of the defendant in the same manner and for the same purpose as that of the plaintiff. To this an answer was formally made by J. C. S. Harrison, admitting the allegations made. Later in the day three mortgages were placed on record by the Harrisons, conveying the residence property of Alfred and John C. S. Har rison and the Parker Block on North Delaware street. They are executed to Charles Mayer, William Haueisen, William Haerle. George W Stout and George Mannfeldt, sureties on John C.S. Harrison's bond as receiver of the Indiana Banking Company, for the purpose, as stated, 'to secure and indemnify the mortgagees against any and all loss on account of their liability as sureties of John C. S. Harrison, re ceiver of the banking company, and to secure the mortgages on account of any money they may be required to pay as such sureties. The mortgage on the Parker Block is also "to secure the mortgagees against any indebtedness of Alfred and J. C. S. Harrison. PROPOSED REORGANIZATION OF FLETCHER & SHARPE, Exclusive mention was made in the Journal of Saturday of the proposed scheme to reorganize Fletcher & Sharpe's Bank, which is meeting with much favor from depositors, and there now seems to be a probability of its consummation. The plan of reorganization is detailed as follows in a circular sent out to depositors: It is very desirable, and unquestionably to the interest of all depositors in the bank of Fletcher & Sharpe, that their affairs be taken out of the hands of the court, and the bank continue business. and to this end it is now proposed to form stock company, under the name of Fletcher & Sharpe's Banking Company. each depositor being stockholder to the amount of his or her deposit, and with limited liabil ity, Messrs. Fletcher and Sharpe holding all stock above the amount due to depositors This will make a bank with capital of about $1,750,000 paid up and out of debt. The plan is as follows: 1. Fletcher & Sharpe convey to said company all of their real estate and turn over, also, all notes, bills, cash and other assets. now held by the receiver, estimated to amount to $1 800,000. 2. The depositors hold stock to the amount due them, being about 1,550,000, leaving $250,000 for Fletcher & Sharpe. 3. The said banking company to be managed by a board of directors, to be composed of nine members, four of whom shall be the members of the firm of Fletcher & Sharpe, who shall continue in charge of the details of the business, and the remaining five, elected by the depositors, as their representatives; this management to continue for five years. The advantage of this plan would be: 1. Saving of cost of litigation, lawyers's fees, forcing of real estate on the market at an unfavorable time, and sacrifice of assets as IS always the case under receivership, because, the bank being entirely out of debt, would have ample time to convert its assets, instead of being compelled to sell, in order to close such large estate. 2. Each depositor being a stockholder. would be interested in the success of the bank, and by continuing his or her business at the bank, in which he or she would then be interested would be adding to the profits of the institution, by providing funds with which to make discounts and accommodate borrowers. 3. The sales of real estate would be made at more satisfactory prices, and money would thus be constantly added to the business, and eventually a very large capital provided with which to carry loans; and the larger the profits the more rapidly would the stock appreciate in value. 4. Dividends on stock would be made in the following order, viz.: That held by depositors would be entitled to a dividend first; after that, the stock held by Fletcher & Sharpe should participate, the depositors' stock being considered preferred stock. It is believed that this is the best course to pursue, as any one can see at a glance the necessity of saving the assets, instead of allowing them to be frittered away through court and attorneys fees, and all the attendin costs of winding up so large a business. It is also believed that, within two years, dividends on the stock could be made, and such as would make the stock a very desirable investment for any one. With in five years the stock would be worth its face, and the strongest bank in Indiana would be the Fletcher & Sharpe Banking Company The undersigned agree to the above arrangement, and request a able response from you. Please reply promptly as it is desired to reopen the bank by the 15th day of August. This places in the hands of the depositors the entire means of the firm and the management of the business, and there would, therefore, be no waste, but the entire benefit over the actual running expenses would to the depositors, who are then participating stockholders, as there would

11. May 30, 1885 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, May 30, 1885

Click image to open full size in new tab

Article Text

# Central Bank Affairs. Receiver Lamb yesterday paid to the county clerk an additional 10 per cent, -$5,192- to the credit of the Central Bank. Eighty-five per cent. in all has been paid in, and it is thought in two weeks the clerk will begin to pay out the amount to creditors.

12. May 30, 1885 The Indianapolis Sentinel Indianapolis, IN
Article from The Indianapolis Sentinel, May 30, 1885

Click image to open full size in new tab

Article Text

Picnic, which will be held June 24, at Lafayette, Ind. A woman giving the name of Walker has been perpetrating petty swindles by begging for an alleged fair to be given at Christ Church. Patrons of the library are requested to use the Pennsylvania street entrance for a few days, until the Ohio street entrance can be painted. John P. Frenzel is a candidate for re-election as School Commissioner in the First District. Albert Beck is said to be a candidate also. Meridian Street Church and Sunday-school will have a grand picnic near Philadelphia on the Pan-Handle Railroad on next Saturday, June 6. The old gentleman named Brown, who broke his thigh at the residence of the Little Sisters of the Poor, is reported to be in a critical condition. Judge Howe yesterday rendered judgment on the verdict in favor of Francis Switzer against the Odd Fellows' Mutual Aid Association for $3,753 75. Judge Lamb has reported that he is ready to pay another dividend of 10 per cent. in the Central Bank Receivership. This makes 85 per cent. in dividends in this bank. The Postoffice will close to day at 12 o'clock promptly. One collection will be made in the business portion of the city at 3 o'clock, and the hotel delivery in the evening at 9 o'clock. Louis Habeney was arrested on a warrant yesterday, charging him with shooting inside the city limits, mention of which was made several days ago in the Sentinel. He gave bond. The footpads tried to rob a railroad man at the corner of Washington street and Highland avenue, Thursday night, but failed for the reason that the railroader had the best pair of legs. The Secretary of the Board of Agricultura says that there will probably be 62 per cent of an average wheat crop in the State. The prospects for a heavy corn crop are better than ever before at this time a year. Complaint is made in every part of the city of children jumping on vehicles in motion. The owners are annoyed by it and the children run many risks in this sport. A case was reported yesterday of a woman who struck a boy in the eye with her parasol while hanging on her buggy, injuring him badly. The Indianapolis Light Infantry will attend the Philadelphia encampment of the "Blue and the Gray" next month, as will also the Light Artillery. The Richmond Grenadier Guards will attend as Governor Gray's escort. The encampment promises to be the largest gathering of the kind held since the war. There was a large crowd in attendance at Virginia Avenue Rink last night to witness the trick and fancy bicycle riding of Miss Minnie Rouchelle and Mr. Clarence H. Smith. Their movements upon the machines surpassed anything ever before witnessed in this city, and showed a wonderful knowledge of the subject of gravitation. Their performances will be repeated this afternoon and evening.

13. September 15, 1885 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, September 15, 1885

Click image to open full size in new tab

Article Text

# Title to Exempted Lots. The Indiana Banking Company, the 2d of June, 1881, recovered judgment against John G. Reissner for $450, and execution was issued in 1883 on certain real estate held by him in the town of Cumberland, this county. Subsequently other judgments which became junior to that of the Banking Company were obtained by other parties against Reissner. The judgment debtor was allowed several lots of the value of $600 under the exemption law. Though the property was sold, he claims a cloud rests on the title of the exempted lots. Yesterday Reissner filed his complaint in the Superior Court against Robert N. Lamb, receiver of the Central Bank, Robert Kennedy and others, to have this cloud removed and the title to said lots quieted in himself.