Article Text
BANK RECEIVER NAMED Ora Davies, of Kokomo, former state treasurer, has been appointed receiver for the First National bank at Noblesville, which recently closed its doors.
6151. First National Bank (Noblesville, IN)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 4882
- Charter Number
- 4882
- Start Date
- May 24, 1926
- Location
- Noblesville, Indiana (40.046, -86.009)
Metadata
- Model
- gpt-5-mini
- Short Digest
63f71c47
Response Measures
None
Receivership Details
- Depositor recovery rate
- 98.2%
- Date receivership started
- 1926-06-03
- Date receivership terminated
- 1932-08-10
- OCC cause of failure
- Governance
- Share of assets assessed as good
- 66.0%
- Share of assets assessed as doubtful
- 27.5%
- Share of assets assessed as worthless
- 6.5%
Description
The First National Bank of Noblesville closed May 24, 1926 and a receiver (Ora Davies) was appointed in early June 1926. Articles describe closure, appointment of a receiver, grand jury investigation, and later dividend payments and liquidation activity — indicating the bank suspended and remained closed with receivership and wind-up rather than reopening. Cause of suspension is described as checks (drawn by Steinbrenner/Burdick Tire/Rubber Company) returned unpaid by a Chicago bank, i.e., a correspondent-related liquidity problem.
Events (6)
1.
March 13, 1893
Chartered
- Source
- historical_nic
2.
May 24, 1926
Suspension
- Cause
- Correspondent
- Cause Details
- At time of closing the bank announced that checks drawn by the Steinbrenner (Burdick) Rubber Company had been honored but were returned from a Chicago bank unpaid, producing the closure.
- Newspaper Excerpt
- which closed doors May 24, 1926.
- Source
- newspapers
3.
June 3, 1926
Receivership
- Source
- historical_nic
4.
June 4, 1926
Receivership
- Newspaper Excerpt
- Ora Davies ... has been appointed receiver for the First National bank at Noblesville, which recently closed its doors.
- Source
- newspapers
5.
March 15, 1927
Other
- Newspaper Excerpt
- BANK PAYING 50 CENTS. THE ENQUIRER Noblesville, Ind., March First National Bank, this city, which has been the hands receiver last May began today the the dollar depositors. will require approximately distribution.
- Source
- newspapers
6.
January 25, 1928
Other
- Newspaper Excerpt
- Ten Per Cent to Be Paid By First National Bank ... checks for the payment cent dividend ... each depositor ... When this distributed the bank have paid 75 cents the dollar.
- Source
- newspapers
Newspaper Articles (16)
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Bank Receiver In City For Short Time Ora Davies, receiver for the First National Bank, was in the city short time Friday afternoon en route his home in Kokomo. He said he would be back to some time Saturday and arrange bond view of taking charge of the bank probably Monday. bond been ed at according to word received here from Washington. The examiners who have charge the bank since closed still at work on books and they said Saturday that they would have plete inventory the assets probably the midThese will dle next arranged and gotten into shape for the convenience of the receiv- portable dark room for tuberculosis field clinics has been devised, that it now sible make pictures of patients more satisfactorily. What has been asserted to be the largest amount cane sugar ground mill anywhere any the world one day's time the of tons in twenhours set by new twencane mill in Central Vertientes, Cuba. couple for farm, good wages. See Alex Hair, ville.
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COMMISSIONERS IN SESSION TUESDAY Getting Ready To Barrow Money To Meet Current Expenses The County Commissioners held a special session Tuesday for the purpose of considering the matter of borrowing some money to meet the running expenses of the county and also to advertise for some gravel to be used on the roads. It was thought that about $32,000 would be necessary to meet the regular county obligations until the latter part of August or the fore part of September. The local banks will be given first chance to make this loan and in the event none of them wants to handle it the money will have to be borrowed elsewhere. The occasion for making this loan was because the county had $72,000 on deposit in the First National Bank when it closed its doors two weeks ago. If this money had not been tied up things would have run along smoothly the same as usual, the Board says. The County Council will be called into session probably next week for the purpose of approving this loan. The Board decided to advertise for gravel, the contract to be awarded the fore part of July The contract will follow the plan used by the State Highway Commission, the amount being from one yard to 10,000 yards. The chief object of this plan is to allow the board to take as much as it likes as long as the quality is satisfactory.
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NAMED BY ASSOCIATION Ora Davies, Kokomo, Secretary of Manufacturers' Organization. Ora J. Davies, Kokomo, manager of the primary campaign of Senator Arthur R. Robinson, was. formally selected secretary of the Indiana Manufacturers' Association today. Davies is. a former State treasurer and has been mentioned as a candidate for Governor in 1928. Since June 1, Davies has been receiver for the First National Bank of Noblesville. He will maintain headquarters or the association at Kokomo.
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Echo of Failure of First National Bank In This City An echo of the failure of the First National Bank in this city last May the lowing dispatch sent out from Huntington, Ind., under the date November Frank Hawley and Edith Hawley, heirs of Hawley, and of his estate, Saturday filed suit the circuit court asking judgment of $50,000 and the appointment of receiver Huntington County State Bank, which suspended business last May, when the other three banks of the city arranged to take its assets and pay The allege that Hawley supplied the bank $45,000 its specific request last January when made Hawley, and Boos to take over "frozen assets," of checks drawn against the bank by Steinbrenner, The pool enabled the bank to continue business for eral months, but suspended ation when a run started and the other banks came to the rescue.
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FIRST NATIONAL BANK RECEIVER Collection of Notes Long Past Due Cannot Be Delayed Longer SUITS TO BE FILED ON ALL OF THEM Now In the Hands of the Attorney For the Bank Things are getting quiet at the First National Bank, which has been the hands of receiver since last May. The cream of the collections have been made, the officials report, and it said that the amount practically nothinig from day to day. This condition has prompted Ora Davies, receiver, to collect together the paper long past due. has about completed this job and Thursday afternoon he turned large ber the notes over Neal, attorney for the receiver, with instructions to file suits court their collection. will take Neal several days prepare all of these complaints and is said the cases will be the largest number ever filed the local at one time. Mr. Davies was ordered by the government many weeks ago take such step but he answered that he wanted give the people of the time possible and this, thinks, done. From now on the receiver has planned to turn all of the assets of the bank into cash as rapidly possible, make what sacrifices which cannot be avoided and close the business the institution. He making prediction to just how long will take him do this but has started on the job and the placing of large number notes the hands of the attorney for collection is just step that direction. Frank the works of Walter Bordner, has received letter \from daughter, Fred Humbles, Bradentown, Fla., saying that apples are selling there for bushel. Most of them, Mrs. Humbles being shipped from northern states. Mr. and Humbles are former residents this city but have been Florida for three or four years.
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BANK PAYING 50 CENTS. THE ENQUIRER Noblesville, Ind., March First National Bank, this city, which has been the hands ceiver last May began today the the dollar depositors. will require approximately distribution.
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Transfers Include Partial Settlement of Sutton Estate TO CHILDREN Bank Receiver Files Many Suits For Collection of Notes In the transfer of property in the county, reported during the past week, appears partial ment of the John Sutton estate by the widow. Mr. Sutton died suddenly few days No considerago. ation named any of the transactions other than which amount under the Indilaw make the transactions binding. All of this land located the pike southeast the city in township. the Mrs. Sutton transferred of the land to Fern some Olson and Floyd and Fairley Sutton, and Olson some to the widow. property Only two other transfers of were made during the portance week, according the amount involved. One the sale money the Frank Reinier property Logan street, this for $4,500, and William Baker, Swain sold Anson Bell, trustee, some land in Washington township for consideration $3,000. The transfers during the week follows: John Reinier to Alden H. Baker, lot Noblesville. $4,500. Gilbert Helms to City Trust Company, trustee, land in Delatownship, Arcadia Lumber Company. Thos. Roby, trustee, lot Arcadia, Albert Winter Mable lot Home Place, Lewis Pettijohn to Paul Pettijohn, lots Arcadia. Paul Nancy Pettijohn, lots William Stanford Angus ton. land in Wayne Jane Owen to Charity Owen, land in township, Frank Brown Carl Pohlman, land Washington John Pruitt, to Carl Pohlman, land township, Walter to Nancy McClintock, land White River, John Ricketts Clarence land Noblesville township, Fishers Church Trustees Fishers Circuit Parsonage Trustee, Delaware. Kittie Sutton Fern land Noblesville township, Fern Olson Kittie Sutland in Noblesville township, Kittie W. Sutton to Floyd Sutton. land Noblesville townKittie W. Sutton to Fairley Sutton. land in Noblesville townWilliam S. Swain to Anson M. Bell, trustee, land Washington township, $3,000. Ernest Anderson to Lela Carey, lots in Westfield, Ne Filed James Koontz Lawrence Macy, complaint note. Ora Davies, receiver for First National Bank, Noblesville, Luther Kaiser, complaint note. James Koontz Hadley Whicker, Paul Whicker and Blanchard Whicker, complaint on William H. Myers. of the estate Robert Okley Bundy, complaint Margaret Ford Charles Ford, complaint divorce. Wilbert Parrish Dessa Parrish, complaint Ida Moon Mamie Leatherman and others, complaint. Central Bank, Arcadia, William Smith, complaint count. Maude Sherman Eber Sherman, complaint for divorce. Ora Davies, receiver, mond Haskett, complaint on Ora Davies, receiver, Otto and Stage, complaint on note. Ora Davies, receiver, vs. Omer complaint note. Ora Davies, Steve complaint note. Ora Davies, receiver, Otto complaint note. receiver, Harry and Helen Supple, and David Swain, complaint note. Marriage Licenses Robert and Lucia Detouk. Cecil Taylor and Maysel Bare.
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Bank Receiver and Tire Factory Manager Summoned Ora Davies. receiver for the First National Bank of this city, confirmed report, afternoon, that he had been moned appear before the federal grand and testify made him take the books the bank which, presumed. the grand jury may to look Mr Davies said he received this from federal court through United States Marshal Meloy, who came Noblesville for the special purpose of the serving Bradford. of the manager Rubber Company, also Wednesday afternoon had been ordered appear federal grand jury the date, but said far had been informed had asked take the books the him. Bradford further said any other employe the company had similar he knew nothing although Kenneth Mount. former bookkeeper. summons. Neither Davies nor Mr. Bradford would discuss the matter further than to they had been testify before the jury. They would speculate the nature of the evidence which the government wanted the they they did know what they would questioned about. They would not conjecture to the nature the testimony any way.
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Receiver Gave His Testimony Monday The federal grand jury, which began its week sessions Monday, Indianapolis, was be investigating the affairs the First National Bank, of Noblesville, which closed doors May 24, 1926. Ora Davies, for the bank, and former state treasurer, awaiting called before the grand The bank, at the time its doors closed, announced that in checks drawn by the Steinbrenner Rubber Company, formthe Burdick Tire Rubber Company, had been honored but that they had come back from Chicago bank unpaid. Davies named receiver November, 1926, and March, 1927, made payment per depositors and July an additional 15 cent. understood the postoffice department presenting the the grand and number postal inspectors awaiting
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BANK BLOCK Friendly Suit Between Trust Company and Bank Receiver The Noblesville Trust Company has filed friendly suit in the circuit court making Ora Davies, receiver for the First National Bank, defendant, in an effort to get of the business block occupied by the bank and the trust company the corner of the public square. The bank and the trust company owned the building jointly and as it cannot divided without being damaged the court is asked to appoint commissioner to sell the same or make division to the satisfaction of both parties. The bank desires to realize its share in the investment and the trust company seeks to know just what part the block owns. This matter will come up the new term of the circuit court. Roberts & Roberts represent the company. Frank Conley, through his at torney, Meade Vestal, has filed suit in court against Owen K. Conley, executor of the estate of Owen Conley, Sr., for the sale of Arcadia property so that there can be division of the proceeds. Mary Louise Conley, Joseph Leo Conley, Mayme Kirgin and Robert E. Conley are also made defendants in the action. Owen W. Conley has owned the property 1918, according to the petition. Mr ago. He formerly lived on farm west of Arcadia and spent his life captainsof steamboats on the Ohio and Mississippi rivers until his retirement twenty thirty years ago when he moved to HamIton county.
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NOBLESVILLE BANK RECEIVER ON HAND Noblesville, Ind., Jan. 20.-(P) R. G. Hartman, of Columbus, O., has arrived here to be receiver for the First National banks of Noblesville and Sheridan, which were closed few weeks ago. Hartman succeeds Ora Davies. former State Treasurer, who recently resigned following his indictment by the Howard county grand jury in connection with the failure of the American Trust Company, of Kokomo.
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COMPLETED Ten Per Cent to Be Paid By First National Bank R. Hartman, the new receiver for the First National Bank, this city, announced, Wednesday ifternoon, that checks for the payment cent dividend been forwarded the controller's office in Washington and as soon as they were approved and turned here they would be ready for distribution among the depositors. Mr. Hartman said the checks would be back in Noblesville week ten days depositors be requested to call and receive their money. Each depositor bring with him the bank his receiver's certificate proof of his claim. When this distributed the bank have paid 75 cents the dollar. The first dividend was 50 cents ond the second cents.
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Receiver Shows Assets and Liabilities December 1927 PAID IN DIVIDENDS Assets of $515,000 to Recollected Robert G. Hartman, the new ceiver for the First National Bank of this city, prepared statement showing the condition of the bank the close of business December 31, 1927. statement, which is self explanatory as follows: Assets Bills receivable at suspension $308,362.75 Cash hand Suspen6,650.59 Assets other than bills receivable, and cash hand 133.507.50 Additional Assets acquired 2,347.95 Stock Assessment 62,500.00 Total Assets ing into the hands of Receiver $515,368.79 Remaining Assets Uncollected Bills receivable Assets other than Bills Receivable $109,024.33 Additional Assets quired S3 Stock Assessment $14,764.85 Total Assets uncollected $202,029.31 Liabilities Total claims proven unsecured liabilities $255,509.98 Total unproven unseclaims 1,278.28 Total secured unpaid None Total Rediscounts None Total Bills Payable unpaid None Total Addition Liabilities Proven 319.77 Total of all Liabilities 257.108.03 Dividends paid during last quarter None Dividends paid prior thereto Cash Hands 22,924.80 The above statement shows that the bank has cash hands at this time the sum of $22,924.80. The receiver says the ten dend which will pay within the next week ten days will be taken out of cash balance.
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Alford and Mrs. Vernon Dora Landes Given Divorces CURRENT REPORTS IN MANY ESTATES National Bank First Sells Forty ceiver Acre Farm circuit court, Wednesday In the morning, Judge Hines granted Alta VerAlford divorce from Alford on of desertion. separated for They have been said the wife more year resides at Louisville, Ky. Dora Landes given Mrs. from David decree separation Landes. The parties reside Jackand this was the second marriage for each. came over from Judge Morrow Anderson, Wednesday, and is preof the case of in the trial siding against Weisenberg, the venued here from Marion county carried over from and having been last The state seeking July. be reimbursed for the value of mattresses which the number defendant cleaned sent to the Clermont Home girls. It the state that the goods claimed the Indiana by Board of Health as being unfit for Guy Booth, administrator of the Whisler, has filed estate of Levi petition the court asking the privilege selling at private which sale bonds and stock $2,850 in consist of bonds and Government Joint also stock Land Bank. Thomas Huffman, administraFlorence Wilof the estate of the sale of the liams, has reported to the estate of land belonging Charles the considera$6,300. The court tion being proved The Noblesville Trust Company has filed current report with the of Ellen Rollings. court guardian There charges to the amount of and credits leaving balance The administrator has filed his in the Cyrus Jeffries final report estate and the same been set for hearing on October The Trust Company has made its final report as guardian of Robert Wicker. $724.58 There in the sum of charges credits the amount leaving balance $342.05, $382.53. The court has aproved the sale Robert Hartman, receiver of the First National Bank this city, of forty acres of land, northof Cicero, to Lloyd Fuller and wife, the being $3,000. This one of the farms which the bank controlled when it closed over two years ago.
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Is By the Report State Board of Accounts NOT MUCH IN FIRST NATIONAL Less Than $1500 Out of Total Deposit of a $15,362 The report filed by the experts who worked here from the State Board of Accounts the condition the records of the NoblesSchool Board interesting, covered the cost of the school from August 1926, until July years. The report shows that the balance August 1926, the special school fund and that there was during the time for that fund The balance the tuition fund and the receipts $106,158.98. The in the special expenses school fund the time, were and the years, tuition fund they were The balance bank The amount fers during the time The was and there was paid during the years $10,000 on bonds, leaving August 1928, of debt of the city. The into the account report goes of board with the First National Bank which had deposit the bank when the bank closed The board received from the Fidelity and Deposit Comcredit $5,000 on this pany posit and from the bank receiver $9,022.03, leaving balance due The Gentry, also had special deposit the bank to bonds and this amount went into the assets the bank pay and has from the bank leaving balance of withdrew, the report says, from the public depository account $2,100 and placed special account and there still due $315, not covered by the depository bond, and the they charge Genperts say with that $315 and credit will try him other dividends given The treasurer's fund balances incorrect, the report says, to various items set out in the report and the tuition fund erroneously with $746.27. The the schools are expenses shown items for the two years and the of interest to the citizens this city. The of the Board office, on