Laketon State Bank - Laketon, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 1, 1929*
Location: Laketon, Indiana (40.974, -85.836)

Metadata

Model: gpt-5-mini
Short Digest: 573b3ecd

Response Measures

None

Description

Articles state the Laketon State Bank closed about five years ago (article dated Mar 1934 → closure circa 1929) and that a receiver (S. D. Henry) filed a report in 1934. No article describes a depositor run; the bank remained in receivership and has paid dividends but not reopened. Cause of suspension not stated in the articles.

Events (3)

1. January 1, 1929* Suspension

Cause Details: Bank closed circa 1929; article does not state the reason for the suspension.
Newspaper Excerpt: the Laketon State bank, which closed about five years ago
Source: newspapers

2. March 13, 1934 Receivership

Newspaper Excerpt: S. D. Henry, receiver for the Laketon State bank, which closed about five years ago, today filed in circuit court the first report that ever has been filed in the receivership. (Leader-Tribune, March 14, 1934 article dateline Mar 13, 1934).
Source: newspapers

3. * Other

Newspaper Excerpt: report shows...when the bank closed its doors it had $65,232.77 as total deposits and the receiver has paid back $55,071.41 of this sum, leaving $10,161.36 still due depositors.
Source: newspapers

Newspaper Articles (2)

1. January 9, 1934 Leader-Tribune Marion, IN

Article from Leader-Tribune, January 9, 1934

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Article Text

Seven Criminal Cases Are Set For Trial At Wabash Wabash, Ind., Jan 8.-Seven criminal cases were today set for trial in circuit court here during the next two weeks following of the January term of court this morning The first cases set are those against Earl Shively and Clarence Hale charged with degree burglary following alleged theft of quantity of wheat from farmer of near North Manchester. They were ar rested in September Shively has been out bond and Hale. unable to give bond. has been held in jail awaiting trial Judge Sumner Ken ner of Huntington is special judge, and the petit jury has called to hear the next Monday On Wednesday, Jan two state cases against Miss Lifey Latchem. former secretary of the Wabash County Loan and Trust Co., charged with banker's embezzlement, set for hearing on plea in abatement Judge Oren Dickey of Marion is spec ial judge these On the Monday Jan. 22, three cases are for first is against Abe Brodey, junk buy er of Indianapolis He is charged with stolen goods in con nection with the theft of $55 worth of brass journals from freight which had been placed on siding the Chicago and Erie railroad near Bolivar Seven persons who stole the journals are now serving prison terms The others are against Ev. erett Gidley held in jail for the past month for sex offense and Ernest French charged with petit larceny. Action taken in civil cases today called for answer by the defendants by next Monday suit of Jasper Marshall against Sherman White and others which enforcement stockholders liability is asked following failure of Laketon State Bank years ago. Answer by next Thursday to suit of Thomas Kelly against Steve Haw kins for collection on and ans wer by Monday in damage suit of Gale Kindlesparker against ceivers for Wabash Railroad Co were also ordered.

2. March 14, 1934 Leader-Tribune Marion, IN

Article from Leader-Tribune, March 14, 1934

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Article Text

HENRY FILES BANK REPORT Wabash, Ind., March 13.-S. D. Henry, receiver for the Laketon State bank, which closed about five years ago, today filed in circuit court the first report that ever has been filed in the receivership. It shows that on the day he took over the receivership he was chargeable with and since then he collected $1,887.32 judgment on bond of former cashier of the bank; $200 an old judgment against Dewey Brown; sold the bank build- and fixtures for $1,291.55 and interest in the sum of $2,total amount he making the chargeable with $95,763. During the past few years he has paid depositors dividends $53,824.62 and special deposits amountto $1,246.79. Expense of the receivership has amounted to $3,051.81 up to the present time and the receiver now has on hand $2,400.54 in cash and $35,239.24 worth of notes and accounts, much of which is regarded : uncollectable. When the bank closed its doors it had $65,232.77 as total deposits and the receiver has paid back $55,071.41 of this sum, leaving $10,161.36 still due depositors. In his report, Mr. Henry said he had sufficient notes on hand to raise part of the amount still due depositors "and believes it will be possible to collect and pay depositors in full before end of present year."