1.
October 29, 1931
Leader-Tribune
Marion, IN
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Note Confuses
Wabash, Indiana, Oct. ther complications entered the fairs of the defunct Citizens State bank of Lagro today, when Judge Switzer ordered note, purported to have been signed by Sam and Mrs. Ferrell, concelled and impounded. The receiver of the note, but when the matter came up in court, Mr. and each denied signed the note and when their was pared with that the was found that not Gillespie, the bank when and be court. taken, which that note copy the original that had settled was intended part the bank's assets. said he did not know exact dates
The bank receiver then said that have the bank records audited actual action been taken whether full whether they held assets bank examiners checked the been depositors state bank were lax their of the bank which permitted worthnotes be tiable assets for years the prior failure. other matters were discussed relative bank court but continued for decision. the claim Quinderia Courson She, acting for directors the bank, setled the town ship trustee town trustee closing their accounts which the bank when failed. that the claim gtneral and that she had ready obtained the bank directors before making payment. The other was the claim of an
2.
November 27, 1931
Leader-Tribune
Marion, IN
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Hearing Planned for Bank Claim
Wabash, Ind., Nov. neys and officials today agreed to hear petition of the Wabash County Loan Trust Co. against receiver of the Citizens State Bank of to have claim declared preferred, on next Wednesday, The note given by Rudolph and Martha Hunt to the Lagro bank was for $555.70, came in possession the receiver when he took over affairs of the bank and was in turn sold to the local bank. When it was presented to Hunt for payment, he said that it had been paid and produced cancelled checks to prove it. The payments, it was said, had never been credited on the note. The local bank is now asking that it be permitted to recover from the receiver the amount paid.
3.
February 10, 1932
Chronicle Tribune
Marion, IN
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BANK RECEIVER IS DENIED PLEA
WABASH, Ind., Feb. 10.-Judge Switzer today sustained a demurrer by the defendant in suit of Ike Duffey, receiver of the Citizens State Bank of Lagro against Warner Bartholomew, in which the receiver sought to collect an assessment against Bartholomew, who was a stockholder in the bank. In the demurrer it was contended that Duffey had no right to sue the stockholders in the bank, and that such action would have to be instituted by the depositors or others holding claims against the defunct bank. The decision is expected to result in dismissal of the case and also others of a similar nature.
4.
August 22, 1932
The Indianapolis Star
Indianapolis, IN
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Lagro Bank Receiver Gets $8,000 Judgment
[Special to The Indianapolis Star.] WABASH, Ind., Aug. 21. Judgment of $8,000 against bondsmen of D. W. Gillespie, former cashier of the defunct Citizens State bank of Lagro, has been obtained by Ike Duffey, receiver, through mise settlement W. G. Todd, Indianapolis depositors, said today he probably would file an action mandating the receiver to file suits against bondsmen for R. G. Fults and John Thomas, former presidents of the bank, in an effort to obtain an additional $6, '00 for distribution to de-
5.
May 15, 1933
The Indianapolis Star
Indianapolis, IN
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BANK RECEIVER ROBBED.
WABASH, Ind., May 14.-Ike Duffey. receiver for the Citizens State bank of Lagro, reported to police that he was held up in the garage at his home and robbed of $500 early yesterday.
6.
September 12, 1933
Leader-Tribune
Marion, IN
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Trustee Named In Bankruptcy
Smith was named trustee in the bankrupte petition of Frank Lawson of Lagro, former director in the closed Citizens State Bank following hearing before A. F. Marsh, federal in bankruptcy Several weeks ago it was charged in filed in the bank receiv. that Lawson, owner of confarm property in Lagro had transferred the propH. Courson and that CourSCT transferred it back to Lawwife, with view of decreditors. also charged that Lawson has refused to pay his share of assessment ordered against stockholders in the bank. Officials said that the purpose of naming a trustee in the case was in order that an investigation might be made of these charges and to permit filing of civil suit against Lawson to have the transfer set and the property taken over by the bank receiver to settle the assessment claim.
7.
October 25, 1933
Leader-Tribune
Marion, IN
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BANK RECEIVER ASKED WHY HE FAILED TO PAY partment of Financial Institutions of Indiana, in charge of liquidation of County Loan and Trust today filed petition in the re. reivershi of the Citizens State Bank of Lagro asking that Ike Duf cited to show cause why paid judgment ago in suit Hunt the Frank
O. Switzer ordered him to show cause as to why has not been paid
AGENT MISSING Wabash, A. Rapp for many years agent the Nickel Plate at Sidney North Manchester, has been since Sunday officials were informed today with the quest that hunt be for him
LEWIS POWELL RITES October 24 The of at his conducted the home. The survive.
8.
February 1, 1934
Leader-Tribune
Marion, IN
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CLAIMS FILED IN BANK CASE
Receiver and 2 Attorneys Seek Total of $7,000 for Work in Receivership of Lagro Bank.
Wabash. Ind. Jan. -Claims for $7,000 in the receivership of the Citizens' State Bank of Lagro were filed in circuit court here today by Ike Duffy, receiver for the bank, and D. F. Brooks and Walter Bent, local attorneys. Brooks and Bent filed a detailed report of their work for the receiver during the last three years. They ask $3,500 for their services. Duffy in his claim also asks $3,500, setting out that the first three months of the receivership he spent practically his whole time for It and has been called in at least once a day since for some action in the receivership. He says he has collected approximately $57,000 for the bank. Of this amount 000 was from bondsmen of T. W. Gillespie cashier, and $35,000 was from sale of notes on mortgages to the Wabash Loan & Trust Co., also now in receivership. Duffy was supposed to file an amended report tomorrow, but on request of his attorneys the time for filing the report was extended to Feb. 15. He was expected to resign as receiver tomorrow, but since the request of his attorneys was granted will not resign until Feb. 15. Depositors of the bank are expected to protest allowance of the $7,000 asked today. The court also allowed D. F. Brooks $800 on a $950 claim in the receivership of the Farmers' State Bank of Urbana and allowed Plummer and Plummer, attorneys, $500 on a $600 claim for services to the same bank.
9.
March 6, 1934
Chronicle Tribune
Marion, IN
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AWAIT REPORT ON LAGRO BANK FROM RECEIVER
WABASH, Ind., March 6.-A report is scheduled to be filed in circuit court tomorrow by Ike Duffey, received for the Citizens State Bank of Lagro, under orders issued by Judge Frank O. Switzer. Attorneys were granted four extensions on time for the report and two weeks ago were informed that the report must be filed by March 7. Depositors in the bank have contested expenditures of more than $10,000 made by Duffey on the grounds that the court never approved them and that many of the claims were exhorbitant. One of the chief contentions was that Duffey, resident of Wabash, was not entitled to mileage h claimed on "trips to Wabash," of which more than 200 were listed. Duffey's attorney has stated that Duffey will resign as receiver when the report is filed and that the state department of financial institutions will be asked to take over liquidation of the bank.
10.
October 9, 1934
Chronicle Tribune
Marion, IN
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SEEK TO HALT WABASH PLANT
WABASH, Ind., Oct. 9.-First action in the injunction suit of Joseph W. Davis against the City of Wabash, in which he seeks to halt officials in their efforts to establish a municipal electric and water plant here, is scheduled to be taken next Tuesday. The case was set today for that time to hear preliminary issues in it. Davis charges that the city administration exceeded its authority in contracting with an Indianapolis firm to make a survey and report on utility prospects here and that payment of $4,750 to the firm for its work was illegal No temporary restraining order was sought when the suit was filed two weeks ago and the firm has proceeded with its investigation. Two weeks ago the city council passed an ordinance giving the firm power to enter the offices of the Northern Indiana Power Co. to check its rec ords for purpose of ascertaining the number of meters in use and age of machinery. The ordinance also gave the workers the right to enter the plant of the company here to check on machinery. The power company had previously refused permission to have its books examined. City officials said a report would probably be ready for submission to the city council late next month. Since there has already been an expenditure of $4,750 in the case officials expect that the next administration, regardless of which party wins, will be compelled to proceed with the action in event report of the workers recommend it. Other cases set today for trial were: Oct. 13, Hugh Enyeart against John Kaiser; Charles Schwenk against Fred Barnhart. Oct. 15, Citizens State Bank receivership of Lagro. Oct. 17, Huntington Trust & Savings Co. VS. Orlando Whitelock, venued here from Huntington