5890. Marion Trust Company (Indianapolis, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
March 17, 1883
Location
Indianapolis, Indiana (39.768, -86.158)

Metadata

Model
gpt-5-mini
Short Digest
a6394f28

Response Measures

None

Description

Multiple newspapers (Mar 17–19, 1883) report a receiver was appointed for the Marion Trust Company in Indianapolis; articles describe it as a swindle with negligible assets and many victims. No evidence of a depositor run is reported; the institution is in receivership and appears permanently insolvent.

Events (2)

1. March 17, 1883 Receivership
Newspaper Excerpt
A receiver has been appointed to take charge of the Marion Trust company, located in this city... The victims of the swindle number about 5,000. The assets consist of some office furniture.
Source
newspapers
2. March 17, 1883 Suspension
Cause
Government Action
Cause Details
Receiver appointed / court action after discovery the concern was a swindle; insolvency and fraud uncovered.
Newspaper Excerpt
The receiver appointed to take charge of the Marion Trust Co., in this city, reports the concern has been in existence about a year, during which time nearly $200,000 has been taken in and fifty thousand paid out.
Source
newspapers

Newspaper Articles (10)

Article from The Rock Island Argus, March 17, 1883

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Article Text

SWINDLING CONCERN, INDIANAPOLIS, March 17.--The receiver appointed to take charge of the Marion Trust Co., in thiscity, reports the concern has been in existence about a year, during which time nearly $200,000 has been taken in. and fifty thousand paid out. Victims to the swindle number about 5,000. Investigation show the assets consists of some office furniture.


Article from The Sun, March 18, 1883

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Article Text

A Swindling Trust Company. INDIANAPOLIS. Ind., March 17.-The receiver appointed to take charge of the Marion Trust Company of this city reports that the concern has been in exist. once about one year. during which time nearly $200,000 have been taken in and $50,000 paid out. The victims of the swindle number about 5,000, and the average amount received from each was $40. The assets consist of some office furniture and a cord or more of circulars. The liabilities cannot at present be ascertained, but the concern is not likely to pay anything Mr. Collier, the manager. has been in Chicago since the receiver was appointed, where he is interested in a similar institution, known as the Union Benefit Association. The Indiana concern has been doing business in Illinois, Ohio, Kentucky, Tennessee, Mississippi, Missouri. and Alabama.


Article from The Salt Lake Herald, March 18, 1883

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Article Text

AiBig Swindle, Indianapolis, 17.-The receiver appointed to take charge of the Marion Trust Company, located in this city, reports that the concern has been in existence about a year, during which time nearly $200,000 was taken in and $50,000 paid out. The victims to the swindle number about 500. The average amount received from each is $40. Investigation shows the assets consist of office furniture.


Article from Omaha Daily Bee, March 19, 1883

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Article Text

A Swindling Concern. Special Dispatch to THE BER. INDIANAPOLIS, March 18 -A receiver has been appointed to take charge of the Marion Trust company, located in this city. The firm has been in existence about one year, during which time nearly $200,000 were taken in and $50,000 paid out. The victims of the swindle number about 5,000. The average amount received from each is $40. It is not likely the concern will pay anything.


Article from The Indianapolis Journal, March 19, 1883

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Article Text

ARREST OF W. H. COLLIER, His Alleged Connection with the Affairs of the Marion Trust Company. William H. Collier, secretary of the Marion Trust Company, was arrested Saturday night at the instance of Judge Heller, counsel for Charies E. Shaw, on a no exeat writ, to prevent his departure from the city. It is stated, on apparently unimpeachable authority, that the elder Collier left the city to avoid arrest for the illegal appropriation of funds belonging to the certificate holders. The son was left in charge and the address of mail instructed to be so changed that all communications and remittances would be delivered at the residence. The son then for. warded all receipte, which, it is thought, amounted to at least $100 daily, to his father's address. The latter has been carefully kept secret, and when young Collier was arrested he told those left in charge of the house to send no dispatches or other communication to his father. in order, doubtless, to prevent the revelation of his whereabouts. Yesterday the household effects and a buggy were added to the assets of the defunct concern, now in the hands of the receiver, the additional property amounting to about $600. AN INTERVIEW WITH YOUNG COLLIER. The junior Collier was visited in jail last night by a Journal reporter. When called up by the jailer he appeared at his cell door arrayed in a close-fitting, bull-frightening suit, and his greeting was: "And you are the Journal reporter, I believe?" An affirmative reply being given, he assumed the interrogative of the interview by asking: "Have you come down here with more stories about me? You ought not to have come out to the honse at night and expect me to come to the door." "You were surely not afraid to come to the door?" asked the daring man of dark hours. "Well, I don't come to the door at night for anyone." "Why?" "Well, I have good reasons. An effort was made to turn the interview upon matters relating to the Marion Trust Company, to Alexander Collier, the large liabilities and the small assetts, etc., etc., etc., but all inquiries were answered with a prompt "No. no, no." showing that the young man. like a dutiful and obedient son, was very ignorant of his good father's affairs. "And I suppose you know nothing whatever as to your father's whereabouts, or even when he disappeared from the city?" "Well, if I do, I don't have to tell."


Article from The Middlebury Register and Addison County Journal, March 23, 1883

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Article Text

CLARENCE HITE, sentenced to twenty-five years' imprisonment as one of the James gang of bandits, and pardoned by the governor of Missouri, died of consumption a few weeks after his release. THE marriage of Judge David Davis. of Illinois, late acting Vice-President of the United States, was solemnized at Fayetteville, N. C. On account of the bridegroom's exalted position, and the fact that he had tried to keep his approaching nuptials a secret, his marriage assered much interest The bride is a native of Massachusetts, but her home since early youth has been in the South. She became acquainted with Judge Davis while visiting at Bloomington, Ill., fifteen years ago, when she was a young lady of twenty-five, and was a warm friend of the judge's first wife. Judge Davis is sixty-eight years old. After the marriage the happy couple left on an extended wed. ding trip, and will go as far as California, re. turning to Judge Davis' home at Bloomington in June. LATER reports state that the flood along the Mississippi has subsided. A COMPRESS with 800 bales of cotton was destroyed by fire at Texarkana, Texas, resulting in a loss of $100,000. THE mining town of Forest City, Cal., has been almost totally destroyed by fire. One man lost his life, and the pecuniary loss amounts to several hundred thousand dollars. GEORGE JONES, of Oglethorpe county, Ga., shot and killed his wife whom he had married when she was only eleven years old, and who had refused to live with him after he had assaulted her mother. A ST. PAUL (Minn.) dispatch says it is reported on trustworthy information that the government has decided to release t'ing Bull and his braves, 140 in number, from military custody. They will be taken on May 1 from Fort Randall, where they have been since they were removed from Fort Yates, a year ago. and placed upon the reservation at the Standing Rock agency. A NEW ORLEANS theatre, just before the close of the performance, was the scene of a panic resulting from an alarm of fire. The large audience made a rush for the roof, and after quiet was restored it was found that two men, two women and three children had been severely hurt. THE receiver of the Marion Trust com. pany, of Indianapolis, Ind.. report that in one year nearly $200,000 has been taken in and $50,000 paid out by the concern. The victims of the swindle number about 5,000, and the average amount received from each was $40.


Article from Huntsville Gazette, March 24, 1883

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Article Text

PERSONAL AND GENERAL. WILLIAM SPRAGUE has been nominated for Governor of Rhode Island by the Independent State Convention. THREE THOUSAND weavers in the Huddersfield (Eng.) District struck recently, owing to a disagreement with the masters regarding wages. GENERAL CROOK has reported fifteen Indians sick with small-pox near the Atlantic & Pacific Railroad in Arizona. THE Garfield Memorial Hospital fund has received $2,355, through United States Consult Denny, from Shanghai. AN engineer was killed and several persons were wounded by a collision ninety miles east of Knoxville, Tenn., a few days ago. CUSHMAN, the forger who swindled the philosophers of the Concord. (Mass.) school last summer, has been sent to prison for five years. JUDGE WILSON C. HOOVER, Associate Justice of the Supreme Court of Arizona, has been suspended under charges of bribery. SPONTANEOUS combustion caused the destruction of the Wabasha, Minu., elevator warehouse and eight thousand bushels of wheat the other night. THE question of a successor to Treashas been settled by the proof Assistant Treasurer A. Wyurer motion Giltillan W. man. EGAN was the recipient of attentions from Irish marked PATRICK sympathizers in York City on the 15th. IT was said lately that conNew implication foreigners riots victed of in the recent were to be expelled from France. JAMES MULLETT, the informer, has given information implicating Patrick Egan and others in the Dublin (Ireland) murder conspiracy. LOUISVILLE (Ky.) cigar-makers threatened strike recently unless their wages were increased one dollar per thousand. THE explosion of a lamp the other night caused the burning of the Swedesford Bridge, by which the Reading Railroad crosses the Schuylkill River at Norristown, Pa. THE wholesale liquor firm of Pfirmann & Pfau, Cincinnati, O., have placed their affairs in the hands of trustees and asked an extension of time. The liabilities were estimated at $425,000, sixty per cent. of which was secured by whisky stock. AN increase of wages was lately granted the molders by the Pennsylvania The Hardware Company of Reading, Pa. Keystone Rolling-mill would start again soon. BASS KAVANAUGH, a notorious deswanted for murder, has been capTexas by couple of perado, tured in Deputy through United the States Marshals, who shot him leg. Ir is rumored that the Wabash system of railroads will be leased to the Missouri Pacific or Iron Mountain in April. in A RECENT strike for an advance the wages of the helpers of the Pottstown, (Pa.) Iron Company threw 250 men out of employment. THE Director of the Russian Postalservice has been suspended from office for attempting suicide. MORE than $5,000 was found in the lodgings of a wretched old woman who died the other day after having sold newspapers for a century in New York. of the DR. half FORBES, Jefferson been Medical College, Philadelphia, Pa., has acquitted of the charge of complicity with body snatchers. THE late Judge Taylor, of Newburg, for did heavy business in investing and his accounts the day N. clients Y., other $250,000, showed a deficit estimated at caused by depreciation of real estate. SAMUEL RUTH, defaulting cashier has of the Washington (Pa.) Savings Bank, been found guilty of larceny. THOMAS HODGSON, a heavy produce dealer, is charged with obtaining large advances from the Bank of Montreal, Cana., underfalse pretenses. AT AN Italian christening in New York head recently Frank Alberto had his City nearly cut off with a razor and two other guests were desperately stabbed. AT Bloomington, Ind., an alleged incendiary fire occurred the other day and four men and a boy were crushed by a failing wall. A WOMAN and child were fatally burned at Venice, o., recently by fire Bridge- which caught in kettle of boiling tar. At death port, Conn., a woman was burned to while at prayers. A MAN named A. S. Hill went to Salt Utah, some time ago and married widow. Lake, The other day the officers wife's were looking for him and $10,000 of his money. THE Marion Trust Company of Indianapolis, Ind., was placed in the hands re- of Receiver recently, its affairs baving sulted 8 disastrously to about 5,000 victims. A DALLAS (Tex.) physician, who was fined for whipping the Postmaster, re- to fused to pay a few days ago and was sent the the rock pile to work out his fine with gang. PATRICK McKinLEY, a Baltimore & conductor. was killed near Salemville, mailO., Ohio recently, by being struck by a catcher while leaning from a car. ALFRED G. PACKER, who murdered companions in the San Juan Mountain off five the winter of 1873 and then lived Colo., of during their flesh, was taken to Denver, of a few days ago and made a full confession his horrible crime. A GAS explosion in Appleton damaged street,


Article from The Panola Weekly Star, March 24, 1883

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Article Text

LATER. Tm river was getting within its banks below Memphis, Tenn., on the 18th, and measures were being taken to secure the best possible manitary conditions when the water runs off. TOE late Judge Taylor, of Newburg, N. Y., did a heavy business in investing for clients and his accounts the other day showed a deficit estimated at $250,000, caused by depreciation of real estate. SAMUEL RUTH, defaulting cashier of the Washington (Pa.) Savings Bank, has been found guilty of larceny. THOMAS HODGSON, a heavy produce desler, is charged with obtaining large ad. vances from the Bank of Montreal, Cana., under false pretenses. AT an Italian christening in New York City recently Frank Alberto had his head nearly cut off with a razer and two other guests were desperately stabbed. AT Bloomington, Ind., an alleged incendiary fire occurred the other day and four men and a boy were crushed by a failing wall. A WOMAN and child were fatally burned at Venice, O., recently by fife which caught in a kettle of boiling tar. At Bridge. port, Cons., a woman was burned to death while at prayers. A MAN named A. S. Hill went to Salt Lake, Utah some time ago and married a widow, The other day the officers were looking for him and $10,000 of his wife's money. THE Marion Trust Company of Indianapolis, Ind was placed in the hands of Receiver recently, its affairs having resulted disastrously to about 5,000 victims. Ir is said the projected works for the improvement of the Delaware breakwater will require five years for completion. THE Canadian Government last year operated 1,007 miles of railroad it is said at a net loss of $73,488. A DALLAR, (Tex.) physician, who was fined for whipping the Postmaster, re. fused to pay a few days ago and was sent to the rock pile to work out his fine with the gang. PATRICK McKINLEY, a Baltimore & Ohio conductor. was billed near Salemville, 0., recently, by being struck by a mail. catcher while leasing from a ear. Mona than 85,000 was found in the lodgings of a wretched old woman who died the other day after having sold newspapers for half , century In New York. Dr. FORDER, of the Jefferson Medical College, Philadelphis, Pa., has been se. quitted of the charge of complicity with bolly onstchers. Tun Portland, Saco s Portemonth Depot, meat Ellet. Me., was burned re easily. The Post-offee building and con. siderable mail was destroyed.


Article from The Middlebury Register and Addison County Journal, March 30, 1883

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# South and West. GEORGE JONES, of Oglethorpe county, Ga., shot and killed his wife whom he had married when she was only eleven years old, and who had refused to live with him after he had assaulted her mother. A ST. PAUL (Minn.) dispatch says it is reported on trustworthy information that the government has decided to release Sitting Bull and his braves, 140 in number, from military custody. They will be taken on May 1 from Fort Randall, where they have been since they were removed from Fort Yates, a year ago, and placed upon the reservation at the Standing Rock agency. A NEW ORLEANS theatre, just before the close of the performance, was the scene of a panic resulting from an alarm of fire. The large audience made a rush for the roof, and after quiet was restored it was found that two men, two women and three children had been severely hurt. THE receiver of the Marion Trust company, of Indianapolis, Ind., reports that in one year nearly $200,000 has been taken in and $50,000 paid out by the concern. The victims of the swindle number about 5,000, and the average amount received from each was $40.


Article from The Indianapolis Journal, April 24, 1883

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Article Text

The G. A. R. Campfire. Following is the programme of the G. A. R. campfire entertainment to be held to-night: Music Insurance Qnartet Zither Music Misses Gehring and Steinheuser. Address Colonel Eli Lilly Music Insurance Quartet Recitation Mrs. M. W. Walker Zither Music Misses Gehring and Steinheuser. Jee Waters Speech Read by Captain George W. Johnson. Another of Mr. Collier's Victims. Judge Heller, receiver of the Marion Trust Company, has received a letter addressed to the company from Mrs. J. A. Osborn, of Gleason, Tenn., W ho wants information regarding a certificate she holds. She saye that she has paid to the company all the money she has, and makes a pathetic appeal for the return of at least a portion of it. saying she is "an old widow lady" and has no means of support.