5826. Fletcher & Sharpe (Indianapolis, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
July 15, 1884
Location
Indianapolis, Indiana (39.768, -86.158)

Metadata

Model
gpt-5-mini
Short Digest
1badc9b9

Response Measures

None

Description

The firm (a partnership banking house) suspended on 1884-07-15 due to inability to realize on securities and large advances to grain and pork dealers. A receiver (William Wallace) was appointed same day and the firm was liquidated over subsequent months with dividends paid to creditors—indicating permanent closure rather than reopening. I corrected OCR minor name variants (Ingram spelled Ingraham in one article) but the bank identity is clear.

Events (3)
1. July 15, 1884 Receivership
Newspaper Excerpt
William Wallace was appointed assignee/receiver (bond $300,000 to $500,000) and took possession of the bank this afternoon; he filed bond and took possession of the bank evening/afternoon; receiver Wallace in charge of the suspended banking house of Fletcher & Sharpe is busily at work straightening out affairs of the firm; receiver's report shows liabilities...,cause:null,
Source
newspapers
2. July 15, 1884 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Inability to realize on securities; large advances to grain and pork dealers (bad loans/over-advances) led to suspension; notice on doors cited inability to realize on securities.,
Newspaper Excerpt
Notice posted on the doors stated that the suspension was the result of inability to realize on securities
Source
newspapers
3. January 22, 1885 Other
Newspaper Excerpt
The Superior Court has directed me to pay a 5 per cent. dividend to the creditors of Fletcher & Sharpe. Payment will be made at Fletcher & Sharpe's Bank, commencing Thursday morning, January 22. WILLIAM WALLACE, Receiver,,date:1885-01-22,event_type:other},{
Source
newspapers

Newspaper Articles (20)
1. July 16, 1884 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, July 16, 1884

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FINANCIAL. The American Electric and Illumiaating Company. (Special to Press.) BOSTON, July 15.-Considerable inquiry is being made regarding electrical securities of all kinds, and as the time draws near for the next semi-annual dividend to be paid by the American Electric and Illuminating Company of this city, attention naturally centres on that company. Careful inquiry to-day from sources considered reliable develops the fact that the directors will declare the regular four per cent. semi-annual on the preferred stock due September 1st, and a two per cent. extra semi-annual on the preferred and common, thus keeping up the same dividends as heretofore paid of twelve on the preferred and four on the common, which makes the stock of this company one of the most desirable investment stocks on the market. [To the Associated Press.] Suits from the Grant & Ward Failure. NEW YORK, July 15.-In the Supreme Court arguments were begun on motion to continue the injunction suit of Geo. F. Cummings against the New York Concert Co., Radolph Aaronson, James D. Fish, Ferdinand Ward and other directorsof the company, restraining them from leasing the Casino, and also restraining Aaronson, president of the company, from receiving any of the moneys. Another Banking House Collapses. INDIANAPOLIS, Ind., July 15.-The banking house of Fletcher & Sharpe, the oldest financial institution in this city, suspended this morning. Notice posted on the doors stated that the suspension was the result of inability to realize on securities and added that the property when converted would be smple to pay all depositors. William Wallace was appointed assignee. The suspension was an absolute surprise, even to bankers, and is generally supposed to be the result of large advances to grain and pork dealers, and their inability to realize on securities.

2. July 16, 1884 The Dallas Daily Herald Dallas, TX
Article from The Dallas Daily Herald, July 16, 1884

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FAILURES. CATHOLIC PUBLISHERS. BALTIMORE, July 15.-A receiver has been appointed for J. B. Piet & Co., Catholic publishers. Liabilities, $40,000. SHORT ON PETR LEUM. NEW YORK. July 15.-C.S. Henry, petroleum broker, has failed. He was short about 6,000,000 barrels at nearly the lowest prices of the recent depressions. He was a member of the governing committee of the Petroleum exchange. SUSPENSION OF FLETCHER & SHARPE. INDIANAPOLIS, July 15.-The banking house of Fletcher & Sharpe, the oldest financial institution in the city, did not open doors this morning. Notice posted on the doors, stated the suspension was the result of inability to realize n securities, and adding that the property, when coaverted, would be ample to pay all depositors. William Wallace was appointed assignee. The firm was composed of Inuram Fletcher, Thomas H. Sharpe and Albert E. Fletcher. The suspension caused a good eal of excitement and runs wore made on other banks, none of which were specially serion inst a us, tution, exce ot which that has the Rysingers large number Bank of small depositors. The suspension of Fletcher & Sharpe was an absolute rise, even to the bankers, and is genorally supposed to be the result of large ev nees to grain and pork dealors, and inability to realize on security. During the Torenoon Messrs. Harrison, Miller & Co. and Elam Lawyors appeared before Judge Taylor and thelr petitions A. Fletcher, Jr., made application for the appointment of a Recriver t Flet her & Sharpe. The (ourt point d Willian Wallaco and fixed obond at $300,000. Wallace filed his and and took possession of the bank evening. He is unable as yet to if It IL statement of the liabilities and assets, but stated to an Associated Press reporter that a very cursory examina lion shows the liabilities to be about $1,800,000, with assets of $2,200,000. It will be several days Lefore a detailed statement can be made. The individual wealth of the members of the firm is estimated at $1,000,000, and it is stated they will make personal assignments. J. K. ARMSBY & CO. CHICAGO, July 15.-G. R. Newell & Co., of Minneavolis, took charge of the business of J. K. Armsby & Co., of this city, to-day, one of the largest firms in the canned goods business, as successors. The firm was embarrassed by the a failure, last week, of J. M. Smith & Co., of St. Paul, and endeavored to take possession of that business, but the law in Minnesota would not permit it. Liabilities, $250,000, of which $100,000 is secured. The firm has been rated at $200,000.

3. July 16, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, July 16, 1884

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THE BANK SUSPENSION. The suspension of the banking house of Fletcher & Sharpe was a surprise to our citizens, not so much on account of the amount of business done by the firm as because of the age of the concern and its connection, by name, with the earlier banking business of this city. As a matter of fact, several of our city institutions have for years outstripped this old house in the aggregate of business. The firm has enjoyed good credit until a recent date, and their failure is a misfortune, not only to themselves, but also to their oldtime friends who have been their customers for years, and'who sincerely regret their present misfortune. The public will note with pain the disappearance of these honored names from amongst the list of business houses of Indianapolis. The failure of Fletcher & Sharpe, however, should not cause a panic or create distrust in the public mind, or cause the patrons of other banking-houses to lose confidence. The firm has no such connection with any other banking institution in the city as to give rise to alarm. The other banks of Indianapolis are in nowise involved in their failure, and merit and will receive the confidence of their patrons. As a matter of course no bank can pay its depositors should they all call in one day or in one week, and the failure of one banking house should not create a panic, any more than the burning of one house should make other householders in the same city sell their property at a sacrifice. Panics caused by individual failures are as senseless as distrusts from earthquakes or deaths by lightning. A fire in a city destroys half a million dollars' worth of property, yet people go on building houses as though no fire had ever occurred. So a mercantile house or a bank goes down by over-extended credit, yet their next door neighbor, in the same business, goes on prospering and making money. As we have said, the banks of this city are safe and in good credit, and unless a foolish and senseless panic ensues from this single failure, within a week's time the trouble will be forgotten and business will be proceeding as usual. The trouble about bank failures arises generally from the distrust of their small depositors, usually inspired by the crowd of those who hang about the doors of a concern, who never had a dollar on deposit in that bank or any other. This was manifested esterday by the idle loungers about the doors of several banks which had never refused a check, and that had paid and continued to pay every demand made upon them. The idlers caused more trouble than the depositors, and but for the senseless clamor of such, there would have been little disturbance of the ordinary course of business, save by those small depositors who are the first to stampede in such a time. There is no cause for distrust of our city banks; and it is to be hoped all citizens will be reasonable, that they will give no heed to idle rumors and the street gossip of those who have no interest in the suspended bank and none in those that are going on in the even tenor of their way, and doing business as usual.

4. July 16, 1884 New-York Tribune New York, NY
Article from New-York Tribune, July 16, 1884

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SUSPENSION OF FLETCHER & SHARPE. THE OLDEST BANKING HOUSE IN INDIANAPOLIS GOES TO THE WALL. INDIANAPOLIS, July 15.-The banking house of Fletcher & Sharpe, the oldest financial institution in this city, did not open its doors this merning, and a notice posted on the doors stated that the suspension was the result of inability to realize on securities, and added that the property when converted would be ample to pay all depositors William Wallace was appointed assignee. The firm is composed of Ingraham Fletcher, Thomas H. Sharpe and Albert E. Fletcher. The suspension caused a good'deal of excitement, and runs were made on other banks, none of which was serious except that on Retzingers Bank an institution which has a large number of small depositors, The suspension of Fletcher & Sharpe was a surprise even to bankers, and is generally supposed to be the result of large advances to grain and pork dealers, and their inability to realize on securities. Mr. Wallace, the ass gnee, Bied his bond for $500,000 and took possession of the bank this afternoon. No is unable as yet to furnish a statement of habilities and assets, but stated to an Associated Press reporter that a cursory examination showed the Habit ties to be $1,800,000 and the assets $2,200,000. It will be several days beto e a detailed 818 ement can be made. The individual wealth of the members of the firm is estimated at $1,000,000 and it is stated that they will make personal assignments.

5. July 16, 1884 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, July 16, 1884

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Business Failure. New York. 15 -C.S. Henry, pe. troleum broker, has failed. He was short about 600,000 barrels at nearly the lowest prices of the recent des pression. He was a member of the governing committee of the petro leum exchange, Indianapolis, he hanking house of Fletcher & Sharpe, the oldest financial institution in the city, d'd not open its doors this morning. A note was posted cn its doors stating that the suspension was the result of inabil ty to realize on securities and adding that the property, when converted. would be ample to pay all deposit rs. Wm. Wallace was appointed the assignee. The firm is composed of Ingram Fletcher, Thomas H. Sharpe and Albert E. Fletcher. The sus ension caused & good deal of excitement, and runs are progressing on other banks, none of which are specially serious, except tbat on Retzinger's bank, an institution which has a large number of small depositors The surpension of Fletcher & Sharpe was a surprise, even to backs and isgenerally sups posed to be the result of large advances to grain and pork dealers and inability to realize on securities. Indianapalis, Ind, 15. - Wm Wallace has been appointed receiver; bond $500,000. He took posses sion of the bank this afternoon, but is unable as yet to furnish a state. ment of the liabilities, but stated to I an Associated Press rep rter that a very cursory examination shows the liabilities are $1,800,000, with assets of $2,200,000. It will be several days before a detached statement can be made. The individual wealth of the members of the firm is estimated at $1000,000, and It is stated they will make personal assignments. There are many surmises as to cause of failure, among others it is stated that during the panic of 1873 the firm was compelled to take possession of a large amount of real estate, which it held as ser curity, and which has since shrank in value. The Indiana National bank will protect checks drawn by the Farmers and Merchants bank of Winchester, Ind. Indiana National will protect drafts of First National Bank of Lebanon, Ind., on Fletcher & Sharpe. The effect of the suspension was to cause a run on two or three banks. The run, however, did Lot asume the nature of a panic. There was a large crowd st the counters of Riezinger's bank dur ing the day, demanding and r. ceivlog money. Depositors in this bank are largely of the working classes, and amounts paid are generally smal, there was also a cons siderable run on Fletcher and Churchmen but all demands were promotly met. Both Retzinger and Fletcher and Churchman received more money on deposit than was paid out. Ingram Fle'cher of the suspended from 18 seriously ill, and the other partners decline to tak. There'ssomeanxiety as to the outcome to-morrow. The general feeling in financial circles 18 less pan i ky than during the bank suspension of last August.

6. July 17, 1884 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, July 17, 1884

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BANKING FIRMS. INDIANAPOLIS, July 16.-Receiver Wallace, in charge of the suspended banking house of Fletcher & Sharpe, is busily at work straightening out affairs of the firm, but it will be several days before a detailed statement of the assets and liabilities can be made. The Pendleton Banking company at Pendleton, Madison county, closed its doors today, the suspension being the result of Fletcher & Sharpe's failure.

7. July 17, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, July 17, 1884

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thought best and wisest. Even the depositors are not disposed to be as bitter and exacting as is usually the case under such circumstances, and much sympathy is expressed, even among them. In brief talks with the other bankers and leading business men, yesterday, the opinion seemed to prevail among them that while the suspension of Fletcher & Sharpe would cause considerable distress and depression in certain quarters, it was not likely to be followed by general financial disaster. The worst is thought to be over. Drafts drawn on Fletcher & Sharpe by Farmers' and Merchants' Bank, of Winchester; Farmers' Bank, of Frankfort; Citizens' Bank, of Noblesville; Jason Willson's Bank, of Marion; Samuel Hamilton's Bank, of Shelbyville; First National Bank, of Lebanon, will be protected by the Indiana National Bank. A REMINISCENCE. An old resident of the city told a Journal reporter yesterday that in 1857 the house of Winslow, Lanier & Co., suspended business, but only for a few hours, as, when the senior partner came down and heard of it, he promptly ordered the doors to be opened. Winslow and Lanier were both Indiana men, and it is said that at this time they were helped through their financial troubles by Calvin Fletcher and Thomas H. Sharpe, who were the principal officials of the Indianapolis Branch of the Bank of Indiana.

8. July 19, 1884 National Republican Washington, DC
Article from National Republican, July 19, 1884

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Plan for Fletcher & Sharpe to Resame. INDIANAPOLIB, IND., July 18.-A plan for reorganizing the suspended bank of Fletcher & Sharpe was made public to-day It is proposed that the principal creditors. take stock to the amount of their claims and the smaller creditors be paid 50 cents cash, and receive certificates of deposit for the balance, payable in six and twelve months. The proposal met with considerable favor, and in a few hours creditors representing $250,000 agreed to the plan. If the arrangement be perfected Ingram Fletcher will be manager of the reorganized bank.

9. July 24, 1884 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, July 24, 1884

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LATEST TELEGRAMS. GENERAL NOTES. A DYNAMITE conspirator has been arrested at Glasgow, and upon him were found evidence implicating others. FOR the thirty-six hours up to Tuesday morning there were 101 deaths from cholera at Marseilles. A Toulon dispatch says the epidemic is extending "in the country." THE estimated loss by June rains on the wheat crop in California is placed at 135,000 tons, and of barley 80,000 tons. The hay crop was injured 40 per cent. C. S. HENRY and A. E. Luxow, heavy petroleum traders at New York, failed Tuesday. Henry was short 600,000 barrels. The oil market at Pittsburg opened at 601, went as high as 661, and closed at 621, the day salesreaching 10,000,000 barrels. CLAIMS for $3,000 bounty were presented at Freeport, III., Tuesday bv citizens who enlisted in September, 1864, two weeks prior to the offering by Stephenson County of $200 for recruits. The State's Attorney holds that the claimants are not ertitled to the bounty. FLETCHER & SHARPE, bankers at Indianapolis, closed their doors Tuesday morning, owing to inability to realize, but claims that the assets are ample to pay all claims. The failure caused runs on other banks. The receiver places the liabilities st $1,800,000, with assets of about $2,200,000. THE brewers of Iowa are preparing to contest the question of the validity of the prohibition law of that state, on the ground that under the constitution of the United States a state legislature can not destroy or confiscate private property without just compensation. In the mean time the law is being openly defied and disregardedin the border and river towns of the state, where public sentiment is strongly opposed to its enforcement.

10. July 24, 1884 Phillipsburg Herald Phillipsburg, KS
Article from Phillipsburg Herald, July 24, 1884

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NEWS SUMMARY. MISCELLANEOUS. A new industry to manufacture shot has been started in Cincinnati. The Anti-Slavery society had its semicentennial celebration in New York. Jos. Brown, a well-known farmer, was killed by a Wabash train at Decatur, III. The banking house of Fletcher & Sharpe, Indianapolis, has closed its doors. David Laupheimer, a wholesale druggist of Baltimore, killed himself with a revolver, Wm. T. Kailey, postmaster at Camden, N. J., was arrested on a charge of embezzlement. B. D. Buford & Co., plow manufacturers of Rock Island, III., assigned. Liabiliites, $200,000. Well-borers at Wabash, Indiana, developed a gas vein which bids fair to illuminate the city. In a railroad accident on the Baltimore & Ohio road at Washington, D. C., several persons were killed. A circular relative to collecting the tax on fruit brandy has been sent collectors by the Treasury department. In an accident on the Brooklyn and Coney Island railroad, a number of passengers were badly bruised. In New York eight veterans of the war of 1812 celebrated Independence Day by having a parade and dinner. The anniversary of the fall of the Bastile, was celebrated by the French-American citizens all over the country. Three thousand teachers were at Madison, Wis., to attend the National Educational Association Convention. A decided change for the better in the army uniforms for enlisted men will be made, according to reports at Washington. By the caving in of an embankment on Clarion river, Pennsylvania, two men were killed and two others seriously injured. Minister Foster discussed with the Spanish ministers the proposed new treaty of commerce between America and Cuba. The State department will issue a report on the condition of labor in all countries, together with wages, cost of living, etc. The Comptroller of the Currency has ordered an assessment of 100 per cent. on the stockholders of the Marine National Bank of New York. The cigar-packers of Cincinnati were ordered out on account of the lockout of cigar-makers, which is now in its nineteenth week. San Jose, Cal., was almost destroyed by fire. Water being exhausted, claret was used to prevent the destruction of the old Mission Church. Newton Carpenter and Ned Macks, Negroes of Stailesville, Miss., were arrested for poisoning two boys in 1882. While on the way to jail they were hanged by a mob. While masked men were hanging Dick May at Owensboro, Ky., Jailer Lucas fired on them, killing one and wounding another. The crowd fired on the jailer and killed him. Gertie Phillips, of Salineville, Ohio, who was missing since June 27th, was found in the woods with a pistol ball hole in her head. A party who was with her that day has been arrested. Receivers of the Wabash announce in New York that Col. A. A. Talmage has severed his connection with the Missouri Pacific and will become general manager of the entire Wabash system. Miss Kate Shelley, of Ogden, Iowa, was presented with the medal of honor awarded by the legislature of that State for her heroism in saving a passenger train from being wrecked on a broken trestle-work. Four farmers from Macedonia appeared in Council Bluffs, recently, with search warrants issued by a Justice of the Peace, and demanded bottles of liquor, enforcing it with drawn revolvers. They were soon arrested for carrying concealed weapons, and were threatened with tar and feathers. Official California crop reports, received at San Francisco, show a loss by the June rains, to wheat of a hundred and thirty. five thousand tons. The loss on wheat is equivalent to seven and a half per cent. The gross yield was estimated in May at eighteen hundred thousand dollars. Barley is about twelve per cent. off the May estimate of SIX hundred thousand tons. The Mayor of New York city has investigated the charges preferred in a morning newspaper against several keepers of intelligence offices, of procuring girls for disreputable houses. The newspaper articles were written and the charges made by Mrs. Eliza Archer Conner, of the Cincinnati Commercial-Gazette. The lady testified to the truth of the statement in the newspaper article. The keepers ot several intelligence offices denied that the charges were true.

11. August 24, 1884 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, August 24, 1884

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Not a Bad Failure. INDIANAPOLIS, Ind., Aug. 28.-William Wallace, receiver of the suspended banking house of Fletcher & Sharpe, to-day completed the examination of the affairs of the firm. The report shows the liabilities to be $1,942,801, actual assets $1,301,000. To the assets must be added $300,000, which will be realized from property assigned by S. A. Fletcher Jr. The nominal assets largely exceed the amount stated above. The receiver's estimate of the value of the assets is thought to be quite low, and the possibility is the depositors will be paid at least 85 per cent.

12. August 30, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, August 30, 1884

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FLETCHER & SHARPE'S AFFAIRS. The Valuation Placed Upon Their Real Estate by the Appraisers. The assets of Fletcher & Sharpe include 1,200 pieces of real estate, of which descriptions are being prepared for distribution among persons desiring to invest in property. In addition to the description the appraised value of each piece of property is given, and the following are some of the appraisements which appear in the list: Albert E. Fletcher's residence, $61,400; Ingram Fletcher's residence, $54,000; the bank building, $235,000; Thomas H. Sharpe's residence, $21,360; farm east of Noblesville, $12,400; Boxleytown farm, $47,100; Wayne township farm, $27,000; a tract of twenty acres on Clifford avenue, $12,500; Albert E. Fletcher's real estate, $142,600; Ingram Fletcher's real estate, $205,875; property owned by the firm, $338,890; Eb Sharpe, $30,630; Thomas H. Sharpe, $32,540. The total appraisement of all the real estate is $750,825. The property located in Indianapolis is valued at $586,425, included in which are thirty-five houses now under rental, and of this pr operty the following are the most valuable pieces: House southeast corner Park and Christian avenues, $3,100; 213 Broadway, $2,500; 84 College avenue, $6,000; 437 North Delaware street, $7,000; 322 to 334 (inclusive) West Washington, $8,600; southwest corner Cherry and East, $2,500; 114 St. Mary street, $2,500; brick residence, Hill avenue, $10,000; 21 acres, known as Newman Oaks, $15,000; Streight's property on Kentucky avenue, $22,900; Streight's house in Irvington, $3,250; Streight's Lexington avenue, $2,400; Dr. Fletcher's house, No. -, Pennsylvania, $5,500. There are in all 4,000 claimants, of whom 3,900 are depositors. The receiver states that the object in withholding from the press the report filed in court is to prevent the embarrassment of persons who are both debtors and creditors of the bank, but it is open to the inspection of all claimants.

13. September 4, 1884 The Mineral Argus Maiden, MT
Article from The Mineral Argus, September 4, 1884

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William Wallace, receiver of the suspended banking house of Fletcher & Sharpe, Indianapolis completed his examination of the affairs of the firm. His reportshows liabilities of $1,942,801, and actual assets of $1,301,000. To the assets must be added $300,000, which will be realized from property assigned by S. A. Fletcher.

14. January 22, 1885 The Indianapolis Sentinel Indianapolis, IN
Article from The Indianapolis Sentinel, January 22, 1885

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Notice of Dividend. The Superior Court has directed me to pay a 5 per cent. dividend to the creditors of Fletcher & Sharpe. Payment will be made at Fletcher & Sharpe's Bank, commencing Thursday morning, January 22. WILLIAM WALLACE, Receiver,

15. July 10, 1885 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, July 10, 1885

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# FLETCHER & SHARPE'S AFFAIRS. Petition of the Receiver to Sell Real Estate- Order of Court Thereon. In a petition presented to Judge Taylor yesterday, William Wallace, receiver of Fletcher & Sharpe, stated that he has carefully gone over the appraisement of assets and liabilities of his trust and is able to say that, without reference to what may be realized from the assets of Stoughton A. Fletcher, the property will pay a further dividend of from 30 to 40 per cent. This per cent. will depend mainly upon the decision in regard to the claims against Albert and Ingram Fletcher. This conclusion was reached after making a large deduction from the appraisement of the real estate and bills receivable, and indeed from all the assets of said trust. On account of the great amount of property on the market, it is exceedingly difficult, and as to large amounts impossible, to sell real estate for anything like an adequate price. He has redeemed the $60,000 in stock of the Indiana National Bank held by the Connecticut Mutual Life Insurance Company and now holds the stock as assets of the es... This stock is worth par or more than par, but, for the same reason that the real estate cannot be sold, there is no market value for it. He says it will be much better for the creditors of said trust to have such property as their own in the way of dividends, so they can manage it for themselves, than that he shall attempt to force it upon the market at a sacrifice. He is satisfied that it would be entirely safe to make a dividend of 25 per cent. of such property, either in stock or real estate. He asked the court to authorize him to sell any of this real estate at not less than the appraisement, and any of said capital stock at not less than par, in lots to suit the purchasers, not less than one share each. Upon the purchase price of said real estate or stock a credit of 25 per cent. upon any recognized claim against said trust not heretofore credited with more than 5 per cent. dividend he asked to be allowed. In other words, any purchaser may pay his bid upon such property or stock by a recognized claim which has not been credited with property purchased under former order against such estate to the amount of 25 per cent., the balance for said stock to be in cash, and for real estate one-third cash and the balance in nine and eighteen months, with interest at 6 per cent., secured by mortgage on the property. The court issued an order in accordance with the receiver's requests. He further ordered that creditors receiving dividends in this way are to have no further dividend until the other creditors have received a like amount, provided that no claim upon which a dividend of more than 5 per cent. has been credited shall be used in payment for said real estate or stock.

16. July 17, 1885 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, July 17, 1885

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ANNOUNCEMENTS. THE HUSTLER "TALKING NOW." R. J.T. BOYD HASRETURNED-RESIDENCE, D 180 North Illinoisst.; office,14 West Ohio st. FOR SALE. FOR SALE-HERE, HAVE YOU GOT "THE F the SALE-ONLY ONE DOLLAR PER YEAR, Weekly Indiana State Journal. Send for it. Fletcher& - OFFICE OF RECEIVER OF Sharpe, No. 10 Fletcher & Sharpe's Block. In pursuance of an order of the Superior Court of Marion county, the receiver of Fletcher & Sharpe will, on and after Wednesday, the 29th day of July, A. D. 1885, offer for sale any of the real estate belonging to said trust at not less than the appraisement, and stock of the Indianapolis National Bank at not less than par, and will receive in payment claims against said trust to the amount of 25 per cent. of their face. Claimants offering to buy said stock in a larger amount than 25 per cent. of these claims will pay for such excess cash in hand, and for real estate so in excess of said 25 per cent. one-third of such excess cash in hand and the balance in nine and eighteen months, with interest. WILLIAM WALLACE, receiver of Fletcher & Sharpe.

17. July 20, 1885 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, July 20, 1885

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Fletcher& -- OFFICE OF RECEIVER OF Sharpe, No. 10 Fletcher & Sharpe's Block. In pursuance of an order of the Superior Court of Marion county, the receiver of Fletcher & Sharpe will, on and after Wednesday, the 29th day of July, A. D. 1885, offer for sale any of the real estate belonging to said trust at not less than the appraisement, and stock of the Indianapolis National Bank at not less than par, and will receive in payment claims against said trust to the amount of 25 per cent. of their face. Claimants offering to buy said stock in a larger amount than 25 per cent. of these claims will pay for such excess cash in hand, and for real estate so in excess of said 25 per cent. one third of such excess cash in hand and the balance in nine and eighteen months, with interest. WILLIAM WAL. LACE, receiver of Fletcher & Sharpe.

18. July 27, 1885 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, July 27, 1885

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Fletcher& - OFFICE OF RECEIVER OF Sharpe, No. 10 Fletcher & Sharpe's Block. In pursuance of an order of the Superior Court of Marion county, the receiver of Fletcher & Sharpe will, on and after Wednesday, the 29th day of July. A. D. 1885, offer for sale any of the real estate belonging to said trust at not less than the appraisement, and stock of the Indianapolis National Bank at not less than par, and will receive in payment claims against said trust to the amount of 25 per cent. of their face. Claimants offering to buy said stock in a larger amount than 25 per cent. of these claims will pay for such excess cash in hand, and for real estate so in excess of said 25 per cent. one third of such excess cash in hand and the balance in nine and eighteen months, with interest. WILLIAM WALLACE, receiver of Fletcher & Sharpe.

19. September 30, 1885 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, September 30, 1885

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PRICES ALWAYS IN PLAIN FIGURES. PETTIS, BASSETT & CO. A FIVE PER CENT. DIVIDEND. The Creditors of Fletcher & Sharpe to Receive Another Installment. Yesterday Receiver Wallace presented a petition to Judge Taylor asking an order to pay a 5 per cent. dividend to the creditors of Fletcher & Sharpe. He said it would be advantageous to pay it as soon as possible, and that he had the money and cash assets in his possession to do it. The court ordered the dividend to be paid on all claims shown by certificates of deposit, checks, pass-books, or other sufficient evidence, and on claims that may be allowed by court. The order includes drafts drawn by Fletcher & Sharpe on other banks and certificates heretofore issued by the receiver, as well as all claims that may be allowed by court and are not preferred, excepting only all claims upon which dividends of 40 or 30 per cent. have heretofore been paid under order of court in real estate or bank stock. All creditors who have not heretofore done so, shall surrender eviderce of their claims of indebtedness against Fletcher & Sharpe without prejudice to any right of action or any other rights they may have against the individual members said partnership. In lieu of such evidence they all accept certificates of the said receiver for the amount of their respective claims shown to be just and correct by the books of Fletcher & Sharpe, or by other sufficient evidence, as the court may order or direct. The receiver shall pay the said dividend to bearers of such certificates. The dividend is payable on and after 5. 1885.

20. October 5, 1885 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, October 5, 1885

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tional Bank stock $200,000.00 Borrowed money-loan on the bank 135,000.00 building $335,000.00 Paid by sale of Indianapolis National Bank st'ck $160,000 Balance due Connecticut Mutual Life Ins. Co 175,000335,000.00 Certified checks outstanding as per lastreport $4,328.32 RECAPITULATION. Balances: Cash on hand $38.412.08 Bills receivable 176,357.67 Stocks and bonds 10,250.00 Indianapolis National Bank stock 80,000.00 Due from banks and bankers 110.24 Overdrafts 10,114.53 Office furniture 580.30 Real estate 599,097.56 $914,922.38 LIABILITIES. Due depositors $1,324,619.09 Winslow, Lanier & Co. 25,842.98 ConnecticutMutual Insurance Company 175,000.00 Certified checks, out4,328.38 $1,529,792.32 standing "The foregoing account," said Receiver Wallace, "shows that there has been paid to creditors-first, a cash dividend of 5 per cent. to all who did not receive the 40 per cent. real estate dividend, $66,096.55; second, real estate sold to creditors who were allowed a dividend of 40 per cent., $56,024.35; real estate sold to creditors who were allowed a 25 per cent. dividend, $1,606.98; national bank stock sold to creditors who were allowed a 25 per cent. dividend, $46,720.35. This makes a total of $170,448.23. The report further shows that there has been applied on the preferred claim of of $200,000 to the Connecticut Mutual Life Insurance Company, secured by the stock of the Indianapolis National Bank, $160,000. It also shows that other claims preferred by the order of the court have been paid, which, with the cash items in the hands of and applied by Winslow, Lanier & Co. on their debt, on the suspension of Fletcher & Sharpe, as shown by exhibit "XL," amounts to $31,640.41. It further shows that claims have been settled by offset, $21,857.47. All the items of salaries, taxes, interest and other expenses incident to the real estate will be largely reduced for the second year and thereafter. The income of the Fletcher & Sharpe building, the bank-room being rented, amounts to $23,000 a year. After payment of taxes, insurance, and interest upon the loan, and expenses, there will be an annual income of between $7,000 and $8,000.