1.
November 14, 1931
The Kokomo Tribune
Kokomo, IN
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(Continued from One) has been announced. After that, the department will be tirely out of the picture. The winding up of the bank's affairs will then proceed in the hands of the receiver, under the supervision of the court. There was considerable number persons the court room lobby when the proceedings Saturday forenoon were being carried forward. Up to the last there seemed anxiety among the depositors and shareholders lest something to take the receivership out of the county. otherwise cause burdensome expense in connection with its administration. Everybody gratified when Attorney Herron, promptly upon the call the case, withdrew bis motion for change of venue from the county.
Lobby Gratified. The proceedings before the court not consume more than half an hour. They sufficed, to clarify the atmosphere most agreeably, making certain that the Peoples Trust receivership will be under the jurisdiction of the Howard circuit court and it reasonable to expect will be economical.
2.
November 18, 1931
The Indianapolis Star
Indianapolis, IN
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KOKOMO BANK RECEIVER STILL TO BE CHOSEN
KoKoMo, Nov. 17. Judge Joseph Cripe of Circuit today Parson the Peoples Trust and Savings bank closed. Previously the had indicated the of Parson but torney an the question of Parson owning mortissued the bank which. Herron contended, made him interested court ruled in favor of ron and announced that another appointment Herron recently filed Frank who withdrew when the tion was
3.
November 20, 1931
The Star Press
Muncie, IN
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KOKOMO BANK RECEIVER STILL TO BE CHOSEN
Kokomo, Ind., Nov. 19. -Judge Joseph Cripe of Howard Circuit Court has declined to appoint Charles T. Parson as receiver of the Peoples Trust and Savings Bank, now closed. Previously the court had indicated the appointment of Parson, but Attorney Joseph C. Herron, as an intervening defendant, raised the question of Parson some mortgage certificates issued by the bank which, Herron contended, made him an interested party The court ruled in favor of Herron and announced that another appointment would be made. Herron recently filed suit in objection to Frank A. George another proposed receiver who withdrew when the action was filed.
4.
December 19, 1931
The Indianapolis Times
Indianapolis, IN
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DEPOSITORS' HOPES DIE None of Kokomo Three Banks Will Pay Christmas Dividends. By Times Special KoKoMo, Ind., Dec. 19.-Depositors of Kokomo's closed banks will not receive Christmas presents in the form of dividends. Receivers of the banks, the People's Trust and Savings, South Kokomo and Citizens, closed nearly two months, announce they are uncertain as to when any part of claims will be paid. They say something will be paid as early as possible in 1932. Depositors had hoped to receive at least part of their claims before Christmas or by Jan. 1 at the latest.
5.
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-
6.
September 12, 1932
The Kokomo Tribune
Kokomo, IN
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DEPOSITORS
Authorizes Receiver Court 10 Per Cent on hin to Pay 19. Monday, September
ABOUT $18,000 MEANS
Hall of Nearly Have Not Yet Filed Their Claims.
An order authorizing Charles receiver 10 Mahin, depositors of the cent dividend to and Savings bank Peoples Trust September was signMonday. by Judge Joseph Cripe in clrcourt Monday morning. practically immediately upon the openterm of that of the September tribunal. At the same time, the court fixthe final December for file claims. Notice by publication was given defile claims positors to this time few weeks ago, but them have filed. more than while check for said that of the amount he 10 cent per bank when closed Octwill be drawn for ober 24, depositor. delivery each and checks September on made only those have up to that time. May Bring Rush improbable that there will be something rush register their claims by those who have delayed diling. now that been that be paid in practicthe future. of checks for the Preparation dividend be gotten under way Receiver Mahin his assistThey ants readiness the have them set the court for the time paid, despite the fact the time only There in all approximately 750 depositors. The 10 per cent dividend amount all than $18,000. The money to more distributed represents collections that have been made by Rcceiver Mahin.
Securities Not Sold recalled that advertised the few weeks ago, loan securities of the mortgage bank for sale either in parcels whole. Up this time not received offer them satisfactory size, consequently has He hopeful that not sold them. considerably. better bid ually be made. the dividend checks of be made the banking of Main and berry streets, beginning o'clock next Monday morning. Delivery in by will this way which these the for each first class item Delivery Bank of the dividend will Payment begin eleven months from the time the bank suspended operations. will be first dividend for the Peoples Trust and Savings bank Announcement was made few weeks ago by Receiver Mahin, following with Judge Cripe, that efforts were being toward payment small might be. an date. At the opening the current term of court Monday morning. Forrest Jump and H. Wills, torneys for the receiver, went before the court, stated collegtions sufficient pay dividend per cent had been made and asked court authorize payment. Judge Cripe immediately made the order that such dividend be paid, beginning Monday. September 19. Other Bank Dividends three banks in Kokomo which closed October of the Citizens National, the
7.
November 24, 1932
The Kokomo Tribune
Kokomo, IN
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SEEKING POSSESSION
BANK RECEIVER FILES SUIT AGAINST CENTRAL FARM EQUIPMENT CORP.
Possession of alotin this city and damages are demanded in sulf filed in circuit court Wednesday evening by Charles F. Mahin, receiver of the Peoples Trust and Savings banks, against the Central Farm Equipment Corporation. The receiver says he was appointed by the court to act as receiver for the property when a mortgage on It was foreclosed some time ago, and that he obtained authority from the court to file suit for possession of the premises. The plaintiff says he notified the defendant company that rentals should be paid to him and that the company refused to pay the rent for the months of October and No. vember. totalling $200. He alleges the company is In possession of the property unlawfully and asks that the court order It turned over to, him. He seeks $400 in damages. Forrest E. Jump and C. H. Wills represent the receiver.
Wrong Kind of Kitty. San dinner guest of Mrs. Stewart Lowery, Hal McCreery, captain of the 1927 Stanford football team. learned that her estate was being pestered by cpoBsums. As he was leaving, McCreery saw what he thought to be a. possum. He left his feet in Mying tackle after the animal Too late he discovered that. the cute kitty was skunk.
A Budding Religion. London.- The Buddhists are putiing fast one on occidental missionaries. The Buddhist Mission in London Is planning the erection of a $50,000 temple and is making an effort to raise at least part of the funds in Buddhist countries. The Mission has already made number of converts, mostly among women.
Good Sales Talk. "You know," said the customer, "I don't exactly like the looks of this auto from the porch." "That's small point, sir," said the salesman. "Look at the back. It Cooks good, doesn't It? And that's all anybody will ever see of this car.
8.
March 17, 1933
The Kokomo Tribune
Kokomo, IN
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Will Pay Five Receiver Mahin Cent Dividend on Per March 30. to Creditors It Belongs Says Them to Have and Wants It Without Delay. of the Mahin, receiver Charles Savings bank, Trust and Peoples for and obtained Friday petitioned of that dividend on institution percent March 30. to Judge In his representation court, Receiver the circuit Cripe that he has Mahin shows available distribution, hands, sufficient for which the amount of perdividend in cent. approximately 900 There are Trust bank. creditors $10,Distribution of these will be welcome 000 among for all, shortly before the close comes the spring taxpaying period. Wishes It Were More the dividend, ReIn regret that Mahin been sufficient collections had not him the percent enable had higher, but said difficult that he had been been unable accumulate more. the amount hands and Even available distribution he the paratively the bank's creditmoney belongs entitled to have ors they are delay. Needloss without Judge Cripe took the state that view and authorized payment same of dividend immediately upon of petition. The pesubmission presented to the court tition was attorney for the Forrest Jump, receiver.
Second Dividend will be the second dividend This of the Peoples Trust for bank. them by the made among September The ceiver standing liabilities of the bank at according to Receiver this time, Mahin's showing the court, amount to $177,097.60. The assets of the bank are largesecured by local estate. everybody little in local real estate market the last two three years. This for collections under receivership being The Peoples Trust and Savings bank operations Oc1931, the like tober taken by the Citizens action was National the South Kokomo and banks. bank took charge the assets tembut them to Mahin his receiver few weeks later.
9.
March 18, 1933
The Indianapolis Star
Indianapolis, IN
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Kokomo Bank Receiver to Pay 5 Pct. Dividend
[Special The Indianapolis Star.] KoKoMo, Ind. March Charles Mahin, for the People's Trust Savings bank. today obtained permission to pay creditors the per on March More $10,000 will mately nine of the bank This the second dividend the bank October 1931 distribution of 10 per cent made some time
10.
November 15, 1933
The Kokomo Tribune
Kokomo, IN
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SEEK
Showalter Going to Receiver Thursday to Indianapolis About Matter. See
PEOPLES BANK ALSO
Mahin and His Receiver Plan to Attend ney Meeting. made Thurs Announcement was Carl receiver day by that the South Don Strode, and his he expect Thursthe meeting which attend state commission on financial will hold state agents which been closed banks January 1931 of the meeting The purpose release closed state banks, deposits loans to obtained from through the Finance Corporof the closed ation, on the The will then be paid out to the ed positors of Two Kokomo Banks Listed Associated Press dispatch An the Tribune from Indianapolis the South Bank and Peoples Trust and Savings the Bank the Citizens State Bank of among this locality the which will be entitled to apply for When Receiver Showalter of the South Kokomo Bank regard to Thursday's received letter day said he two notifying him of the ago plans to hold such and the He remarkexplaining that held his Mr. ference with the result they decided attend. Statement Showalter that he still Mr. says holds something near of the Bank, assets some which he avail able for security for an loan should deemed obtain one These assets con$17,000 in mortgage loan certificates and approximately $12,000 in real estate. of the ussets are about $7,000 personal loans and about $4,000 second real estates. Mr. that neither these would sumes available as security for an loan. we could our available put assets and obtain Joan that would enable pay the bank's credianother cent dividend, tors per seems that would be the thing
(Continued Page
11.
April 3, 1934
The Indianapolis Times
Indianapolis, IN
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Closed Banks to Pay By Times Special KOKOMO, April 3.-Two closed banks in Howard county will pay dividends within the next thirty days, receivers announce. Dividends of the Russiaville National bank will be 20 per cent, representing $15,000, according to the receiver, Frank W. Bryant. Amount of dividend of the People's Trust and Savings bank of Kokomo, to be paid about April 15, has not yet been determined by Charles F. Mahin, receiver. Previously, the bank had paid dividends of 5 and 10 per cent.
12.
April 13, 1934
The Indianapolis Times
Indianapolis, IN
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Dividend Is Declared By Times Special KoKoMo, April 13.-The closed People's Trust and Savings bank will pay a dividend of 15 per cent on April 20, it is announced by the receiver, Charles F. Mahin. The amount will be $27,000. Dividend of 10 per cent and one of 5 per cent have been paid previously.
13.
October 24, 1934
The Indianapolis Times
Indianapolis, IN
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Closed Bank to Pay By Times Special KoKoMo, Oct. 24.-A dividend of 15 per cent will be paid to depositors of the closed People's Trust and Savings bank prior to Nov. 3 as a result of an order given the receiver by Circuit Judge Joseph Cripe. This will be the fourth dividend declared since the closing of the bank on Oct. 23, 1931.
14.
December 3, 1934
The Kokomo Tribune
Kokomo, IN
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CHRISTMAS
Holders of People's Bank Mortgage Certificates to Get 20 Per Cent Now.
MEANS $20,000 IN ALL
Will Be First Dividend on Three of Four Series of Bonds Issued.
Judge Joe Cripe, in circuit court, Monday, made order that means Christmas money holders of mortgage bond certificates of the People's Trust Savings bank, In receivership approximately three years. The order authorizes Charles trustee for the mortgage certificate holders. pay per cent dividend securities that character issued by the bank. First on Three Series. Trustee Parson heretofore paid 20 per cent dividend of the mortgage ficates. This payment cerry the total paid that series The 20 cent be this time and the first ordered distributed to the holders of those series. Checks for their the current dividend be by Trustee the holders certificates immediately. They will have their money within the next few days. Means $20,000 Distribution The mortgage certificate bonds the Peoples and Savings bank by Mr. Parson trustee quite of the other assets of the which handled by the receiver, Charles Mahin. Trustee Parson says the 20 per mean distribuof $20,000 the holders among the mortgage bond there holders of the bank's mortgage certificate bonds. Size of Checks Vary. While many of holders residents here, several them distant states. One or Parson stated, reside in Callfornia. however, will have their dividend checks the mails can make delivery of them. The amounts held by the several owners certificates vary from few hundred dollars eral thousand dollars. This means that the checks will vary In size from dollars to several hunddollars. according the amounts held by the several ownTrustee Parson said that paid Monday one certificates approximately $1,900. Welcome After Long Walt. Coming, does, when Christapproaching. the dividend sure by the tificate owners, especially by owners of series. H and who heretofore received any dividends whatsoever. The mortgage bond certificates the Peoples and Savings bank practically all Kokomo real estate, the for which been extremely since the bank suspended operations, three years last October. This explains the slowness verting enough of mortgaged estate into mnoey idends. soon as he amount sufficient to pay Trustee Parson petitioned court for authority to make such payment.