6152. Hamilton Trust Company (Noblesville, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
January 1, 1915*
Location
Noblesville, Indiana (40.046, -86.009)

Metadata

Model
gpt-5-mini
Short Digest
b297a315

Response Measures

None

Description

The Hamilton Trust Company in Noblesville was closed by the state auditor around Jan 1915 and placed in receivership. Coverage discusses arrests/indictments of officers and later receiver actions (suit vs. stockholders, dividend). No article describes a depositor run; cause of suspension is government action (auditor). Dates are inferred from contemporary reports: closure in early Jan 1915 (articles in 1915-03 and 1916-01 reference closure about a year earlier).

Events (5)
1. January 1, 1915* Receivership
Newspaper Excerpt
J. L. Dulin became receiver for the company; receiver for the Hamilton Trust Co. (John Dulin/ J. L. Dulin referenced in later articles).
Source
newspapers
2. January 1, 1915* Suspension
Cause
Government Action
Cause Details
Closed by the Indiana state auditor (official state action shutting the institution).
Newspaper Excerpt
The Hamilton Trust Company of this city also was closed by the state auditor.
Source
newspapers
3. March 13, 1915 Other
Newspaper Excerpt
R. H. Metcalf ... was arrested ... The state's attorney asserts he has warrants for the arrest of other persons in connection with the recent bank failures in Hamilton county.
Source
newspapers
4. December 10, 1915 Other
Newspaper Excerpt
Receiver may sue stockholder ... Dulin, receiver for the Hamilton Trust Co. ... action by Dulin to recover the amount of stock they held.
Source
newspapers
5. October 20, 1916 Other
Newspaper Excerpt
Hamilton Trust company, which was closed about a year ago by the auditor of state will pay about 20 cents on the dollar, according to an announcement ... approved the report of John H. Dulin, receiver.
Source
newspapers

Newspaper Articles (4)
1. March 16, 1915 The Interior Journal Stanford, KY
Article from The Interior Journal, March 16, 1915

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Article Text

R. H. METCALF IN TROUBLE Former McKinney Banker Arrested After Bank Failure in Indiana His host of friends in Lincoln regret to learn that R. H. Metcalf, who went from the cashiership of the McKinney Deposit Bank at the presidency of a bank at Cicerc, Ind., has gotten "in bad" in connection with the failure of that institution a short time ago. A dispatch from Noblesville, Ind., to the Indianapolis Star said of the matter this week: Noblesville, Ind., March 13-R. H. Metcalf, who was president of the Farmers & Merchants' National Bank at Cicero, Ind., when it was closed by the auditor of state in January, was arrested tonight by Sheriff Woodell, charged with embezzlement. His bond was fixed at $1,000 but up to a late hour tonight his efforts to provide bond had failed and he was still in the custody of Sheriff Woodell. The specific charge against Metcalf is that on Dec. 25, 1914, he received a deposit of $429 from D. E. Buzan, when he knew the bank was insolvent. Prosecutor Guy issued the warrant upton the complaint of Buzan. The state's attorney asserts he has warrants for the arrest of other persons in connection with the recent bank failures in Hamilton county, but refused to make them public tonight. The Hamilton Trust Company\ of this city also was closed by the state auditor. Metcalf came to this city three years ago from McKinney, Ky., and purchased the controlling interest in the Cicero bank. The Equitable Surety Company and the Western Indemnity Company were made defendants today in five suits in the Circuit Court growing out of the recent bank failures in Hamilton county. The defendants were sureties for the Hamilton Trust Company of this city and the Farmers and Merchants' Bank of Cicero for the deposit of public money when they were closed by the auditor of state. The suits are to recover the full amount of the deposits. The county had $8,184.66 with the Hamilton Trust Company and $4,771.94 with the Cicero bank. Jackson Township had $2,300 in the Cicero bank and the Cicero school board had $2,200 in the same bank. The Noblesville school board asks for the return from the Hamilton Trust Company of $2,300. It is understood that the bonding companies intend to pay the various sums without further litigation and then share in the pro rata distribution of the assets when the receiver settles up the affairs of the banks.

2. December 10, 1915 South Bend News-Times South Bend, IN
Article from South Bend News-Times, December 10, 1915

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Article Text

HOLD NEW LAW VALID Receiver May Sue Stockholder Who Has Double Liability. NOBLESVILLE. Ind., Dec. 10.In sustaining the demurrer to the plea in abatement in the case of John Dulin, receiver for the Hamilton Trust Co. against Rayle and others, Judge Cloe yesterday said in effect that a receiver for a corporation had a right to sue a stockholder where the stockholder, under the law, has denied liability. In making this ruling Judge Cloe held to be constitutional an act passed by the last legislature covering exactly this point. This law was drawn up by W. R. Fertig of Noblesville, who is attorney for the receiver of the defunct trust company, to 'meet just such an emergency and was passed by the legislature a day or two before it adjourned, and under a suspension of the rules. Rayle, with several other stockholders in the trust company, were made defendants in an action by Dulin to recover the amount of stock they held. The defendants did not deny their liability, but questioned the right if suit, asserting the creditors should be the plaintiffs.

3. January 31, 1916 South Bend News-Times South Bend, IN
Article from South Bend News-Times, January 31, 1916

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Article Text

BANKER PLACED ON TRIAL George Bowen is Charged With Grand Larceny. News-Times Special Service: NOBLESVILLE, Ind., Jan. 31.George Bowen, who organized the Hamilton Trust Co. of this city and was president of the institution for 10 years, was placed on trial in the circuit court to answer a grand jury indictment alleging grand larceny. He is charged with stealing $2,700 in cash from the company five days before it was closed by the auditor of state a year ago. The principal point at issue is the question of the intent on the part of Bowen to defraud the trust company. He drew a sight draft for $2,700 on Charles Myers, cashier of the Carmel bank, saying the cashier owed him that amount of money. The draft was not started through the banks until after J. L. Dulin became receiver for the company, and then it was not honored. It is alleged that Bowen took the money from the cash drawer of the trust company and carried in the cash drawer the draft as a cash item,

4. October 20, 1916 South Bend News-Times South Bend, IN
Article from South Bend News-Times, October 20, 1916

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Article Text

WRECKED BANK TO PAY Twenty Cents on Dollar Will be Given to Depositors. News-Times Special Service: NOBLESVILLE, Ind., Oct. 20.The Hamilton Trust company, which was closed about a year ago by the auditor of state will pay about 20 cents on the dollar, according to an announcement made Thursday by Judge Parr, after he had approved the report of John H. Dulin, receiver. The report of the receiver provides for the distribution of about $40,000. It was said a smaller dividend will be made later. READ NEWS-TIMES WANT ADS.