First National Bank of La Grange

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Start Date: *
Location: Lagrange, Indiana (41.642, -85.417)

Metadata

Model: gpt-5-mini
Short Digest: cc43aef9

Response Measures

None

Description

Article (Indianapolis Times, 1929-02-13) mentions the failure of the First National Bank of La Grange and that Clyde A. Walb was convicted in connection with that failure. The piece does not describe a run or suspension timing, but clearly references a bank failure (permanent closure) and related criminal conviction; no reopening is mentioned. No specific failure/suspension date is given in the article.

Events (1)

1. * Receivership

Newspaper Excerpt: Clyde A. Walb...convicted in federal court at Ft. Wayne in connection with failure of the First National bank of La Grange.
Source: newspapers

Newspaper Articles (1)

1. February 13, 1929 The Indianapolis Times Indianapolis, IN

Article from The Indianapolis Times, February 13, 1929

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Article Text

# HOOSIERS GET BEST OF 'JOBS' IN U. S. PRISON Defendants Sent Up in Hot Car Case Well Treated in Leavenworth. THREE HERE FOR QUIZ Open and Shut Gates, Work in Hospital, Help on Construction. Indiana prisoners are all but "running" Leavenworth federal penitentiary, according to word brought back by three inmates who were in the city Tuesday. Hoosier prisoners open and shut the gates, help plan the meals, supervise the library, supervise construction work, help take fingerprints, keep records and attend patients in the hospital. The three prisoners brought here Tuesday to testify in the resumption of the inquiry into the interstate automobile theft conspiracy by the federal grand jury were W. Lee Smith, Robert F. McNay and Frank Glenn, all sentenced in the first "hot car" trial here late last year. They were back in prison today. All in Good Health All three were in jovial spirits and good health. Prison food is wholesome and nourishing, although not always what would be ordered in a restaurant; pleasant work is afforded those who wish to while away the hours; and there is a lack brutal treatment, they told friends. Glenn is a clerk in the clothing department. McNay has a position on the prison chicken farm, outside the walls. Smith is a clerk in the record clerk's office, where fingerprints are taken and prison records kept. Edward Traugott, merchant, is assistant to the steward, while Jacob Wohlfeld, furrier, is a trusty in charge of opening and closing the main gate. Laffey in Library William Laffey, former poolroom proprietor, is working in the prison library. Several of the motor theft case defendants are working in the hospital, one of the best positions in the prison, where there is but little restraint and the best of food. These include Ted Baldwin, Dr. Fred V. Binzer, Terre Haute optician, and Bertram Libowitz. Tony Ferracane, convicted as one of the leaders of the liquor conspiracy ring which was named for him, is an attendant at the hospital. Elmer Sussman is working as dispatcher for prison trucks, while his cousin, Harry Sussman, was transferred to federal reformatory at Chillicothe, O., at his own request about a month ago. Clyde A. Walb, former Republican state committee chairman and head of the Walb Construction Company, La Grange. convicted in federal court at Ft. Wayne in connection with failure of the First National bank of La Grange, was reported to be in charge of prison construction work, such as building roads. Can Not Carry Money Prisoners are not allowed to carry money on their person, but it may be left at the office in their account. A grocery and small department store at the prison enjoy a thriving business, selling cigarets, cigars, fruit, rugs to make cells homelike, ties, underwear, candy and other prison luxuries. Smith, McNay and Glenn were treated most considerately by guards on the trip here from prison, not one being manacled, they reported. The guards said this was the first prison group they had taken anywhere on a train which had not been handcuffed, at least part of the trip. "The guards are all a pretty decent lot," the prisoners said. "We have less to fear from the guards than from some of the old-time hardened prisoners, who don't care if they stay in prison the rest of their lives.