Laketon State Bank - Laketon, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: April 9, 1930
Location: Laketon, Indiana (40.974, -85.836)

Metadata

Model: gpt-5-mini
Short Digest: 61235183

Response Measures

None

Description

Articles state the directors voted to suspend operations (closed the previous Wednesday) and a receiver was appointed by the court on April 14, 1930. OCR errors corrected (danof unless receiver insolvency → danger of insolvency). No run or depositor panic is mentioned.

Events (2)

1. April 9, 1930 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Directors voted to suspend operations rather than 'break in' a new cashier; court found bank in danger of insolvency.
Newspaper Excerpt: following its closing last Wednesday when the directors of the bank voted to suspend operations rather than break in a new cashier.
Source: newspapers

2. April 14, 1930 Receivership

Newspaper Excerpt: Judge Frank O. Switzer appointed Samuel D. Henry, former president of the Laketon State Bank, as receiver for the bank, following its closing last Wednesday ... the court ... held that the bank was in danger of insolvency and immediately appointed a receiver.
Source: newspapers

Newspaper Articles (1)

1. April 14, 1930 Chronicle Tribune Marion, IN

Article from Chronicle Tribune, April 14, 1930

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Article Text

SEEK LAKETON BANK RECEIVER ABASH, Ind., April 14.-Acting on a petition filed in circuit court Saturday afternoon, Judge Frank O. Switzer appointed Samuel D. Henry, former president of the Laketon State Bank, as receiver for the bank, following its closing last Wednesday when the directors of the bank voted to suspend operations rather than break in a new cashier. The court, following the usual custom, held that the bank was danof unless receiver insolvency ger immediately appointed, and that the bank is now in the hands of the state banking department.' Bond was fixed at $100,000, and H. W. Rager, George Frederick, W. C. Frey, E. Metzger, John Tryon and A. M. Robinson signed the bond, which the court approved.