5966. Citizens National Bank (Kokomo, IN)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 4121
Charter Number: 4121
Start Date: October 23, 1931
Location: Kokomo, Indiana (40.486, -86.134)

Metadata

Model: gpt-5-mini
Short Digest: 638f26d9

Response Measures

Full suspension, Books examined

Other: Directors voluntarily closed the bank to protect depositors; federal/national bank examiner consulted and a receiver was later appointed.

Receivership Details

Depositor recovery rate: 86.7%
Date receivership started: 1931-10-23
OCC cause of failure: Economic conditions
Share of assets assessed as good: 36.8%
Share of assets assessed as doubtful: 52.1%
Share of assets assessed as worthless: 11.2%

Description

Directors closed the Citizens National Bank on Oct 23, 1931, citing 'continued withdrawals' (a run); the bank was claimed solvent but was turned over to a receiver (Frank W. Bryant) and remained in receivership with litigation and receiver actions through at least 1934, so it did not reopen. I corrected no names or places. Cause of the run is recorded as continued withdrawals/nervousness; articles do not attribute the run to a discrete false rumor or a specific corresponding-bank failure.

Events (5)

1. September 16, 1889 Chartered

Source: historical_nic

2. October 23, 1931 Receivership

Source: historical_nic

3. October 23, 1931 Receivership

Newspaper Excerpt: Frank Bryant, receiver National Bank ... filed ... (receiver referenced in later articles); bank 'has been in receivership for two and one-half years' (1934). (receiver appointed after suspension).
Source: newspapers

4. October 23, 1931 Run

Cause Details: Continued withdrawals and growing nervousness among depositors (a run) depleted the bank's ability to operate; no specific misinformation or outside bank failure is cited as the discrete trigger.
Measures: Directors closed the bank voluntarily to protect depositors; consulted federal banking authorities and examiners.
Newspaper Excerpt: Continued withdrawals were blamed for closing of the institution
Source: newspapers

5. October 23, 1931 Suspension

Cause Details: Board ordered closure (suspension of operations) citing continued withdrawals; closure described as voluntary action by directors to protect depositors and allow reorganization; federal examiner consulted.
Newspaper Excerpt: The Citizens National bank ... was closed by its directors today for the protection of depositors. A statement issued by officials said the bank was solvent and would be reorganized.
Source: newspapers

Newspaper Articles (18)

1. October 23, 1931 The Indianapolis Times Indianapolis, IN

Article from The Indianapolis Times, October 23, 1931

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CLOSE KOKOMO BANK TO PROTECT PATRONS Directors Take Step Voluntarily; Solvency Is Claimed. By United Press KoKoMo, Ind., Oct. 23.-The Citizens National bank, Kokomo's largest banking institution, was closed by its directors today for the protection of depositors. A statement issued by officials said the bank was solvent and would be reorganized. Continued withdrawals were blamed for closing of the institution, which was organized forty-one years ago. Bennett B. Bobbitt was president and Paul Stanbro cashier. Deposits were $3,104,924.58 and resources $4:823,862.14. The Citizens bank absorbed the Howard National bank June 1, 1930.

2. October 23, 1931 The Kokomo Tribune Kokomo, IN

Article from The Kokomo Tribune, October 23, 1931

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INTEREST BY REACTION Citizens National Closing of Some Unusual Brings Activity to Them. CONTINENTAL TO WORKERS STEEL o'clock Friday afAt 2:30 E. Fredrick, John ternoon, board of the chairman of the Steel CorporaContinental the Tribune tion, requested to announce that employes of that concern who had not cashed their pay already would be paid at the checks plant at 10 o'clock Saturday morning. The influx of Continental with checks employes pay was causing a rush of busiUnion Trust bank ness at the that was being misinterpretto meet the ed. Money Continental's payroll will be at the plant Saturday morning at the hour named. of the Citizens With the closing which took place at National bank 10:30 o'clock Friday morning. came Interest to what general that event would have fect. if other banks of the uptown on the district, the Union Trust and Savthe Peoples Trust bank and and Savings As would be expected. the inmed. late effect somewhat increased activity at both Institutions. This was more marked the Union because its larger line Trust, of of depositors. The of exceptional the Union Trust, howactivity at in the main to the was due fact that was handling the paythe Continental Steel roll of That concern has several poration. hundred These began the bank at the pouring into place the appearhour, giving unusual rush of busiof an ness. Situation Explained This appearance, not unnaturally, by some persons was the general excitement due to the closing of the resulting from Citizens National As far as was (Continued on Page Two)

3. October 23, 1931 The Kokomo Tribune Kokomo, IN

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ACTION TAKE DIRECTORS TO CONSERVE INTERESTS DEPOSITORS OF BANK'S Continued Withdrawals Board in Statement Says Prompt Closing of Institution to Protect DeposiComes Consultation with Federal Banking Bank to be Solvent and Expresses Hope for Its Quick ReorComes as Surprise to Comin 1889. Organized Bank Examiner Here. Sanders. a national bank examiner, arrived in to take 2:30 o'clock Friday charge Kokomo of about the affairs of the Citizens National Bank. which was closed by order of the board of directors at 10:30 'clock Friday morning. Mr. Sanders said that safety deposit boxes at the bank could not be made accessible to the holders for two or three days He indicated, however, that all possible haste would be made to reopen that department. At o'clock Friday morning, following a meeting of the board of directors of the Citizens National Bank, the doors of that institution were closed. The following notice which was posted at the entrance informed the surprised public of what had happened: "NOTICE." account of continued withdrawals the directors of this bank feel it is advisable to close the of for "The protection Federal banking authorities have been consulted and agree that the directors are the course. following directors proper believe the bank to be solvent and hope to reorganize as quickly as possible." of Directors." "Board As soon as the doors had been closed and the notice posted, a crowd began to gather in front of the bank. Those who were near the doors read the notice and then conveyed the substance of its contents to those who were not close enough to make out the meaning of the few type- written lines. Spreads Quickly. News the closing spread News of and rapidity with amazing reached to all parts into the the and even of city, From countryside. adjacent district came the business to see for streams of persons whether the themselves been Kobank which financial inkomo's leading for several years stitution suspended operations. had the terse statement To many posted at the entrance was unbelievable. almost betoo, telephones Soon, with inquiries to jingle gan report that to whether the as was in circulation was true. frequent calls were By noon, rural discoming that the tricts, revealing news had already spread bethe city's borders. yond The bank's closing, seemunexpected to praced, was tically everybody. detailed explanation By way taken by the direcof the action said that there had tors, was of checkingbeen steady process the bank for out under way at first it slow some time. reached the It never proportions of an open "run." At time was there any appearance or even mild panic The drainage of deposits. however, on, and that process, went stendily exhausts bank's the long run, meet demands just ability efficiently had been rather Withdrawals the last few days more frequent than usual. The situation business Thursday evenclose of ing was such as to cause the and directors grave concern. ficers call for meeting This morning. At this o'clock Friday which an hour conference. the institution's proband looked squarely in the lems were the result that the resface. with for immediate olution providing drafted and adopted. closing was Opened at Usual Hour. In the meantime. the bank had business at the usual opened for the customary activihour, and ties were under way up to the moment the doors were closed and There been the notice posted. unusual of withdrawals rush during the hour and half the bank had been open. In fact, the scene in the big banking room had been quiet rather than active. Nothing about the appearance of the place even hinted at the action about to be taken. The directorate. after the closing had been announced. simply said It realized that first obligation to the bank's depositors, and that it had become apparent soon the in that to continue longer would operation day depositors to expose undue hazard, the decision to close reorganization was and plan reached. Although the directorate had been in communication with the authorities, counFederal banking them frankly regardseling with ing the situation. there natexaminer or other repbank of the department resentative the resolution closing the time adopted. nor had any the bank time The been here for some had been fully partment. however, advised of developments of last approved the and had few days directors decided to course the Boxes. Safety Deposit the bank that was reported had left bank examiner national for Kokomo, by Winchester, Ind., shortly before automobile and would arrive here toward the afternoon. It middle the probable that be soon decide making the safety time for upon the bank deposit department available for use of customers. Contents of safety deposit boxes of any way not, course, bank's though fected by the will be short necessity there of (Continued on Page Two)

4. October 24, 1931 The Times Hammond, IN

Article from The Times, October 24, 1931

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CLOSES Ind., Oct. Trust Savings company, $260,000 state banking institution, its day It by deposThe on the bank the closing the Citizens National bank Three banks are left in Kokomo. assets critical industrial caused difficulties local banks Kokomo the worst Indiana, the result of the bad industrial situation here.

5. November 4, 1931 The Kokomo Tribune Kokomo, IN

Article from The Kokomo Tribune, November 4, 1931

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(Continued from Page One) qualifications for the particular recognized by all. being Fears of Creditors Should the case taken creditors feel. other county. that the receivercording would much more expenship sive than administered here. All of the receivership must the costs borne the bank's assets. out that the more receivership the expensive greater the loss the Attorney Herron out of the and could not city Wednesday for Information regardbe any additional to what ing his plans his answer and motion. He his pleadings court filed by the office assistant, Goldie Perry. herShe discharged self an attorney. the work assigned her without comment. If Mr. Herron really to for change of means venue from the county, the fact will be revealed Saturday, the hearday Attorney Herron is president of the Howard County Bar Association the veterans of the one legal had experience in bank liquidation served along with Grover Bishop in winding up of Trust the affairs the failed SeptemThe creditors of that ber, approximately cents on the dollar. South Kokomo Bank Pending Saturday, also. State Banking Competition by Symons for South Kokomo Bank, for the which was closed on October 23, at the same time the Citizens National Bank The creditors that operations. have prepared petition institution asking that Carl Showalter be receiver. he having indicatwillingness to serve same terms Mr. proximately willing to accept for George was liquidating the Trust. Whether some shareholder the South likely Bank and that Kokomo be sent out of the county too, not been change Creditors of the institulearned. know no such tion say they being under that none develops. press hope Citizens generally express hope that Attorney Herron his and not press for sider motion change of venue from the county Trust case, and that the Peoples that ever motion in the South Kokomo offered Bank case. practically, seems be impressed that the receiverships the creditors of the planned two institutions would be the most economical and most satisfactory that could devised, and that they that the affairs would the banks would be administered honestly, and the best interests every way those directly concerned. and the community as whole. MOTORS DIVIDEND New York, Nov. General Motors Corporation dividend of cents terly share the common stock.

6. November 27, 1931 The Kokomo Tribune Kokomo, IN

Article from The Kokomo Tribune, November 27, 1931

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BRINGS FIRST BANK RECEIVER CITIZENS FOR FILES ACTION COLLECTION OF NOTE. The first brought by Frank for the Citizens Bryant, receiver National Bank, against creditors of filed circuit the institution was court Friday morning. Defendants Beulah K Miller. White, Mildred William White, and Miller The action for $475. and asks that amount interest of $26.39 and together with of total attorney's fees $50, SHERLOCK OF London, called David Sherlock Holmes of while services died today his wife, who being died Monday He

7. December 9, 1931 The Kokomo Tribune Kokomo, IN

Article from The Kokomo Tribune, December 9, 1931

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INTEREST LOOKS LIKE LARGE ATTENDANCE AT BANK MEETING SATURDAY NIGHT. Among the 9,000 depositors the Citizens National bank much interest has been awakby the announcement carried Tuesday evening's Tribune that mass meeting has been called for next Saturday evening at o'clock the worth As was stated those sponsoring the call, the object to elect committee representing the positors to co-operate with the cutive committee of the group of shareholders the Citizens Nationplanning the organization of bank. Such co-operation deemed visable and the end that if new bank comes Into existence, arrangements may made with assist in the liquidation obligations of closed bank. Such arrangement. said, would be much more for the depositors of the Citizens National than an mediate liquidation by the receiv- All signs point to large attendance depositors at Saturday night's meeting, and to construclive steps toward expediting the organizing and opening the any rate, sponsors of the meeting as confident of such result. NEW STORY BEGINS. "Threo Kinds of new serial story. begins Page of this issue The Tribune:

8. December 18, 1931 The Kokomo Tribune Kokomo, IN

Article from The Kokomo Tribune, December 18, 1931

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NEW BANK PLAN PROMISED HERE TIME IN Committee Thus AdKokomo Conference with vised in Federal Official. Following conference in ChtThursday, in which represencago, committatives of Citizens National bank, tee of the with Alfred Leyburn, conferred for the controller chief examiner of currency for the federal district, the local committee returned to Kokomo late Thursday night and that the federal examiner, within the next few days, submit plan for the orwould ganization of the proposed new bank here. The depositor's committee repreconsisting of Ray B. Jones and Brock, Haworth George with Bennett B. Bobbitt of the Citizens former president drove to Chicago National bank, Thursday and obtained audience Leyburn. Mr. Bobbitt with Mr. troduced the three depositors and then of the leaving the deposicused himself, their statetors frec to present ments. depositor's representatives The proposed several plans for the of bank, and opening Citizen's bank detection of the all of which had interests, positors the close attention of Mr. Leyburn. discussion of several phases After Mr. Leyburn told of the problem. would go over the the receiver of the the reports of bank, and then would formulate plan which he would submit within the next few days. said he would either send the plan, or would bring down in person. The latter statement is taken as might dication that direct with the local wish to confer and stockholders plan when the discussion the submitted. bank conditions Due general in the district Mr. Leyburn but he gave the busy man, very local sufficient time to present its However he deferred his final decision until he to over the had had go of the Citizens bank detailed report in charge of the bank receiver, now here.

9. January 23, 1932 The Kokomo Tribune Kokomo, IN

Article from The Kokomo Tribune, January 23, 1932

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for Aid ProReceiver Applies for Closed Banks vided Under New Law. OF DEPOSITORS BENEFIT Will Be If Obtained, Loan, Them 25 Used to Pay Per Cent of Claims. enable Kokomo and Action to benefits vicinity to participate billion dollar reconunder the two struction finance corporation within the last few days enacted United States and by the evening by President signed Friday Hoover has already taken. W. Saturday forenoon, Frank of the Citizens Bryant, long distance National Bank, telephone the offlee the comptroller of the D. requested rency. of an applicathe of amount equal Lion loan the deposits that per cent tied up the bank. taken by Receivthe end that dividend toward paying the depositors the Citizens National might obtained soon possible. He made the request long distance view getting his application on among the very first and havconsidered among the first. It What Law Provides. sought under The that clause the bill which prothat the receiver of closed bank may, upon showing the assets upon which borrow an amount equal to 25 cent of the total the deposits. The purpose make possible per cent distribution among the depositors without their having wait for the receiver collect enough of the bank's loans to make such ment. There to be no question about the receiver the Citizens National being able make the showing required. Nothing known yet, however. how the loan will available. While the general bill creating the reconstruction finance corporation calling for appropriation for its has been passed and the tion remains be made next week. probably Monday, and the necessary administerthe affairs of the corporation remains to be set This is done under supervision Gon. Charles Dawes, selected head the will Require Time. Some time will be required, necessarily, in getting gigantic terprise readiness that the loan desired by Receiver Bryant for the reltef of Citizens National depositshould be available the ors, termination of the period notice creditors file claims, which distribution depositors could be made. Because of the amount of work connected with getting the trusts carried by the bank out of the institution and into other hands, and numerous other prelimdetails, the receiver says he has not yet been able begin sending out notices to creditors file claims. Even now he unable date certain for starting such work, but says setup for rapidly gotten into shape

10. January 23, 1932 The Kokomo Tribune Kokomo, IN

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from be more than will not that will be until notices (ew days depositors. ing depositors have the law, Under file their which to three the receiver's and obtain claims Until for the certificates according that period will be distribution report. no will not the receiver what the total until then know will will be, consequently claims arrange for pro unable to the depositors division among have he may distribution. available for hands Details Not Yet Known. known here nothing the to details of finance construction of the known that only receiver of that provisions for the borrow, bank many closed purpose of making distribution equal to 25 to amount depositors, total of deposits. cent the object is to get money. Because the quickly posthe depositors assumed that the process loan will not obtaining such of about by unnecessary hedged conditions and provisos. deposits tied round numbers. In Citizens National amount in the To make 25 por cent $3,000,000. that amount available for distribution would mean that approximately $750,000 would be paid the Release of such depositors. in the community amount money undoubtedly would greatly stimulate business and to great extent distress of relieve the financial being true. naturally many. That hope that such there earnest will be made as soon distribution for filing claims expires. Repayment of Loan. If Receiver Bryant borrows the amount indicated from the governwill it later from he return the bank's collections made on loans and from sale of its assets. loan of 25 per cent The fact not be be meaning that not more course. be realized than that amount can bank's assets. more the than that amount is expected to be obtained on them and turned over depositors in subsequent distributions by the The government merely makes the loan of 25 per cent available the end that depositors may not the process of have await depressed times before receiving that much on their claims. State Banks Included As here, the provisions of the extend to state Whethand trust C. Mahin of the Receiver and Savings bank Peoples Trust Carl Showalter of and the South Bank, will seek loans in behalf of the those has not been Those banks, which closed the same time as the Citizens National, are state Institu-

11. February 18, 1932 The Kokomo Tribune Kokomo, IN

Article from The Kokomo Tribune, February 18, 1932

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Vicinity to Pay and Kokomo 200th AnniHomage on of His Birth. versary OFFICES WILL Schools and Programs by triotic Recalled. Stories well next Monand the two-hunFebruary 22, day, the birth of anniversary of dredth will observGeorge and vicinity Kokomo holiday. will the observance Officially. suspension the form take In public business county such postoffices, and banks. city offices and Hunt hus already of the departthe order announced the holiday under which ment, the Kokomo observed by to There be no postoffice. carriers, either city of by general delivery. the order and parcel money closed windows post the box throughout to box lesbe accessible other points Mall to and from received and will be postage calling mail bearing be delivservice for carrier. like cred by effect other be in offices the county. Regarding Because Trust comUnion Bank the only financial pany. will be closed. operating borne In mind This fact should circles and Indiby both business should make arrangeviduals, who sufficient to ments for cash from Saturday ovening their needs until Tuesday National bank, the Citizens W. Bryant anReceiver Frank there will nounces the day of pension for claims The and his work the however, will endeavor to catch up day. an fallen behind since work that has poriod was opened. the Some Old Traditions. Howard county ever possesThat George citizen who aed doubtful Tradition Washington in the ploneer period that two or three here there were county's borresiding within the him, these who had seen well stories are not them from the remove domain of doubt. that two It however, who soldiers the Revolution are buried in Howard be that both saw and may though there in OXistence no record any such dent. of these was Jack GulIton, whose body lies in the Twin Springs cemetery. The other Abner dust reposes Oak Mound cometery In the northwestern corner of Ervin township. Both died about Many Have Visited Tomb. however, has Howard county, many citizens who visited Washing- (Continued Page

12. April 13, 1932 The Kokomo Tribune Kokomo, IN

Article from The Kokomo Tribune, April 13, 1932

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REAL ESTATE TRANSFERS Furnished by the Anderson AbCitizens Nastract Company the tional Bank building. William A. Moran and wife to wife, lot 438 Hamlins Highland Addition, W. D., Edwin S. Mendenball and wife 10 acres in MonDelphina township. W. D., $1.00. Edwin Mendennall and wife to Elma M. Hollet, 20 acres in Monroe township, W. D.. Robert Mitchell and wife to Harold E. Shirley and wife, part of West Liber26 Original Plat Fletcher Trust Company, Albert Alexander to Addition, Trus62 Haynes part Citizens National Bank by Receiver to Union Bank and Trust Parts lots and Part Out Original Plat Lot Butler and Lot 18 and 19; Lot 111 Argo AdLeeds Addition: Smith's dition and Part 4th Addition: Receiver's Deed. wife to Love and Mary Charles E. Weisman, undivided Elliott. intlots 32 and 33 part Kirkpatrick erest & Blacklidges, W. D., Charles Shewmon. Trustee t.o Arthur H. Schwartz, South half of 5th Addition, Smith's 159 $1.00. Hazel C. Havens etal to Ben Johnson and husband, $1.00. land in City Kokomo, W. O'Toole and husMargaret Lot 45 Hoffman. band W. $1.00. Addition, Charles Trustee etal to James Hayes wife, Lot 44 Motz and Grether's Addition, D., $1.00. Lorenzo Horn and wife to Percy lot and part lot Smith, West MidMiddleton's Harrison Townand land in dieton W. etal to MagSouth half of B. Smith's 5th Addition, Lot 159 R. $1.00. Corporation to N. P. Dodge Lot 13 Jennings and Louren W. D., $264.00 Lenox N. Dodge Corporation to Len- WilPreston W. Addition, husband to Finch and Fanny Esther Finch Plat of lot 30 Original est in part Kokomo, CommissionDrinkwater, W. Lot to Marvin Hodson's Addition Deed. $150.00. Murel Smelker lot 533 Highland Part W. $1.00. Addition, and wife to William H. Myers 160 acres William Richey $1.00. Liberty to Marion Wineinger, Roy Loan Association, and Building W. D., Tuxedo Addition, Lot 10 in $1.00. Indiana Into Indiana 2.86 acres Land Company. dustrial D., $1.00. of Kokomo, City Wilfred Grau. Grau to Florence Kennedy's AdPart in D., $1.00 dition, to Harry Clint Kokomo, W. in City of Davis, land $1.00. Clint Thomas Davis to Harry O. In City of and wife, land D., William J. TayGifford to Burgh Lot wife, Addition. W. Park etal WilJoseph wife, Lot 309 liam H. W. $1.00. Conradt's

13. October 3, 1932 The Kokomo Tribune Kokomo, IN

Article from The Kokomo Tribune, October 3, 1932

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DEED GIVEN ALLEGE CREDITORS DELAY TO that the An allegation property by deed ance made delay this city was filed sot out Frank circuit court Monday of the Citizens receiver W. against Rosaltha National bank, Osborne SeaVanBibber and the complaint, Mrs. According the VanBibber after giving notes seeks judgthe bank. The of $2,202.02 and ment the sum deed declared void asks the against Mrs. Overson and Manning VanBibber. represent the

14. October 3, 1932 The Kokomo Tribune Kokomo, IN

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DEED GIVEN ALLEGE CREDITORS TO DELAY that An allegation piece property ance made to delay this city was in filed was out creditors Monday by Frank circuit court receiver of the Citizens. National bank. E. Osborne Scaand grave. According to the complaint. Mrs. VanBibber executed the Seagrave after giving notes the bank. The receiver seeks judg. sum $2,202.02 ment the the deed declared void asks that as against creditors of Mrs. Overson and Manning represent the receiver.

15. November 24, 1932 The Kokomo Tribune Kokomo, IN

Article from The Kokomo Tribune, November 24, 1932

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(Continued from Page One) after the Citizens National Bank had suspended operations and Frank W. Bryant had been appointed receiver of the federal banking department took steps which resulted in the receivership of the Howard also being placed in his hards, and he replaced Strode in charge of the Howard National's affairs. The step was taken, it was said, wholly in the interest of The Henry C, Davis Estate. Inc., retained to defend the action collect the assessment Charles McCabe of Crawfordsville. After as in the case appearing year, McCabe for approximately died. This was last summer. said that Forrest Jump of this city was recently retained by the interests. is reported, too, that George B. Shenk has been gaged to appoar for some of the other Donald Elliott, who represented Strode as receiver, is handling the cases for Bryant, G. Manming. who attorney in general for Bryant, is expected to assist in the trial. summons has been received by Emerson clerk of the ard circuit court, calling upon him to in the United States Disreport trict court Monday with certain records which are expected be introduced as evidence Because of the large amount of money involved and the public character of the institution out of the suspension of which the cases there naturally rather grew, general interest in Kokomo and vicinity to sec what the outcome of the litigation is to be.

16. July 11, 1933 The Kokomo Tribune Kokomo, IN

Article from The Kokomo Tribune, July 11, 1933

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READY TO KIDNAPERS "DO BUSINESS" THEY SAY NEW MESSAGE was maelstrom of buying. from to At the close wheat had gains ranging bushel with all cents per liveries above $1.00 per bushel and May reaching peak of $1.14. Corn closed with gains ranging from to bushel. Oats gained per than cent bushel. more Albany, July Rye's close was 81/4 to The kidnapers John cents per bushel over yesternell, Jr., athletic young member O'Connell day's final figures with indicated their willingness family, cember finishing above the business" today but objected $1.00 per bushel mark. The the list of intermediaries lected by the family. while the September In painstakingly printed reached the mark but eased with and ink, the kidnapers pen slightly from that figure at the with the expressed close. proferred contact men and DanO'Connell, the uncle of the promptly submitted ducted list which was published in late edition of an ernoon newspaper. The kidnapers, who are holding $250,000 assured O'Connell was the family young unharmed. The new list was composed of names: Dave Hotalthe following Bill Bardean, Paul Tarzio, Eddie Pat Frank Connelly, man, Willie and Neal Leone, King understood most Ponze. intermediaries the predecessors well like their known sporting circles: letter. the third received The since O'Connell from the kidnapers front of his home was seized the midnight hours Daniel O'Connell's was found at the main post office. private box Foreclosure IN Sought for of mortSuit property of receiver to take charge ment of the and judgment circuit court Tuesday Frank Bryant, receiver Citizens National bank, against Walter Dixon, administrator bonis non of the estate of August Herman Overson and attorneys for the filed the complaint. New July cohol Issues rose to 10 points feature Irregular stock market session today. few other groups and special issues were while the and utility leaders sold off in relatively quiet Gains the alcohols At time Industional. one trial Alcohol 80 up 1014 Distillers 114 3-8 and 7-8 all 1933 Owens Illinois Glass, highs. also the "wet" group jumped nearly points to new The foregoing gains were supplemented Railroad by shares strong in the industrial car loadings reports sharp gains 1932. rose higher tire prices. Silver soared nearly points for the 3-8. year Aviation issues period did farm strength equipments except and dewith the year mand longer Crucible, Sheet Republic and ican Rolling Mill.

17. June 13, 1934 The Kokomo Tribune Kokomo, IN

Article from The Kokomo Tribune, June 13, 1934

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UNCLAIMED Several Cases in Which Ownof Sums Left There Cannot Be Located. SOME BOXES STILL LOCKED Have Not Had Turned Key in Them Since Bank Was Closed. Despite the fact two and half years have elapsed since Citizens National Bank suspended operations and passed into the hands receiver, there deposits record the books of institution for which claims have been filed and from the owners which no word has been received. Quite remarkable the fore. going further fact safety deposit boxes there which have not been opened since bank closed. On some of these rental charges but due, others service fees have been these last mentioned cases the lessees have simply fit to open the boxes. What Receiver Says Receiver Frank Bryant gives no information regarding the names of unclaimed posits the amounts Involved in such cases, He simply states that there deposits yet though every possible fort has been made locate them give notice that dividends due them. The receiver some of the posits almost small, while others large enough well worth looking One gets impression taken together, these unclaimed amount to several hundreds dollars. Whether the owners have forgotten the deposits, died without ing evidence their include personal property, have moved away and left by which they be can one prepared to The ceiver only knows that has been unable get in touch with them induce them to their prove claims. One Occasionally Files. depositor who had not before filed claim conforms and receives his Bryant, without the depositor's name, told who had $3,000 the bank when closed, for little more than two years before filing claim and collecthis dividends. This man lived city and had not sponded any notice sent him. Before receivership finally wound the unclaimed dividends will have been made available paying depositors who have filed and their claims. For the present, however, unclaimed dividends remain intact for the of record, case they should come forward and assert and tablish their rights them. Reasons Unknown. No one pretends to the sons persons may have for renting safety deposit boxes which they not open for Some probably reason and some another. most such cases, surmised that the boxes do not contain coin, only value. will be when the receivership closed, how much the unclaimed deposits amount and ascertain what contained safety deposit boxes which the lessees apparently have abandoned.

18. June 15, 1934 The Indianapolis Times Indianapolis, IN

Article from The Indianapolis Times, June 15, 1934

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By Times Special OKOMO, June 15.-Several depositors of the Citizens National bank, K which has been in receivership for two and one-half years, have not filed claims for amounts they had in the bank when it suspended operations. According to Frank W. Bryant, receiver, some of the deposits are considerable amounts of money while others are very small. Several safety deposit boxes have not been opened during the receivership. Rental fees are delinquent on some of the boxes. In other cases, they have been kept paid.