6162. Jennings County Bank (North Vernon, IN)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: September 16, 1885
Location: North Vernon, Indiana (39.006, -85.624)

Metadata

Model: gpt-5-mini
Short Digest: 80584062

Response Measures

None

Description

Multiple articles (Sept 16–22, 1885) report C. E. (or O. E./Charles E.) Cook as proprietor of the suspended/assigned Jennings County Bank of North Vernon, IN. The bank suspended/assigned because it held and dealt heavily in fraudulent township warrants (forgeries), leading to insolvency. No run on the bank is described in the sources. By Nov 1885 the proprietor is paying creditors 50 cents on the dollar, indicating closure/liquidation.

Events (4)

1. September 16, 1885 Receivership

Newspaper Excerpt: C. E. Cook, proprietor of the Jennings County bank, at North Vernon, Ind., has assigned.
Source: newspapers

2. September 16, 1885 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank had heavy dealings in fraudulent/forged township warrants and held forged warrants as assets, causing insolvency.
Newspaper Excerpt: O. E. Cook, proprietor of the Jennings County Bank, at North Vernon, Ind., has assigned. The bank has been dealing heavily in township warrants.
Source: newspapers

3. September 22, 1885 Other

Newspaper Excerpt: The warrants ... were placed with the Cincinnati bank as collateral by C. E. Cook, proprietor of the suspended Jennings County bank of North Vernon. Mr. Stark retained a firm of lawyers in the interest of his bank, but what further steps will be taken is not yet known.
Source: newspapers

4. November 12, 1885 Other

Newspaper Excerpt: Charles E. Cook, proprietor of the broken Jennings County, Indiana, bank, at North Vernon, is paying off depositors and other creditors at fifty cents on the dollar.
Source: newspapers

Newspaper Articles (12)

1. September 16, 1885 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, September 16, 1885

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NEWS IN BRIEF. Mrs. Emma Shanabrook was run over by a switch engine at Mansfield, O., and killed. r William Finley, an aged farmer, living t near Carmi, Ills, brutally murdered his a wife, aged 60 years. 8 The boiler of a steam threaher explod1 ed near Bryan, O., killing C.G. Paster and Wesley Henner. t Mrs. Orilla M. Andrews has med W.J. e 5 Elliott, of the Columbus (0.) Capital, for $5,000 damages for libel. r Henry Arthur & Co., pioneer leather e house of New York, have assigned. Lid abilities are supposed to be heavy. t The contributions received for the ree lief of the sufferers by the tornado at 8 Washington Court House, O., amount to ₺ $5,000. Pitkin & Vaughn, theatrical printers, 1 Chicago, suffer a heavyloss by fire. Other firms in the building incur lesser losses. All the counties of Ohio except Fayette, Hamilton and Harden have made their a semi-annual settlement with the Auditor of State. b Rev. Dr. Famuel W. Duncan has de3 clined the Vassar Presidency, and Rev. J. 1 Ryland Kendrick, of New York, will officid ate pro tem. Dr. W. C. Bennett is under arrest at Lafayette, Ind., charged by Miss Jennie Moore, who has been in his employ, with e violating her person. e Mike Donehour, of Fremont, 0., has deserted his wife and three children, and eloped with the seventeen-year-olddaughter of John Stockboner. t Jacob Wickerham, who attempted to kill his son-in-law at Winchester, O., some y time ago, has been adjadged insine, and n will be sent to the asylum. 0 O. E. Cook, proprietor of the Jennings s County Bank, at North Vernon, Ind., has e assigned. The bank has been dealing y heavily in township warrants. a Among the fourth class postmasters appointed yesterday were. Chas. M. Payne, o at Murraysville, and James M. Hanley, at Winfield, all of West Virginia. Fred Moore, of Logansport, Ind., and W. T. Murray, of Chicago, are in jail at . Frankfort, Ky., charged with attempting to rob the postoffice at Lawrenceburg, Ky. E Miners employed in the coal mines about Silver Creek, in the Akron district, 7. struck against a reduction from seventy3, five to sixty-five cents per ton in the price of mining. The Bank of Harrison, 0., has made an t. assignment. Liabilities, about $24,000, and 3, assets the same. Among the latter are 4. about $5 500 of the noted Indiana township warrants. 4, The Springfield, 0, School Board has resolved to admit colored pupils to the 1. general school buildings where their homes are so remote as to render it im3, possible to attend the colored school. The management of the Ohio Penit, tentiary. notwithstanding promises to the Typographical Union to the contrary, have entered into competition with the Colum9, . bus printing houses, and are soliciting k orders for convict work. Frederick L. Clayton, of the ship brokeri, age firm of F. L. Clayton & Co., Baltimore, 3. Captain Alfred Brotherton and mate 9. George W. Brown are arrested, charged 4 with conspiring against insurance companies by attempting to wreck a vessel. )Manly W. Mason, a Newark, O., attorney serving a term in the Ohio Peniteny tiary for perjury, has been disbarred from practice by Circuit Judges Clarke, Bradberry and Cherrington, at Newark, on :charges that he had altered certain records and papers of the Court.

2. September 19, 1885 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, September 19, 1885

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The Outstanding Indebtedness Aggregates $65,711-A Statement from a Member of the Firm of Davis Brothers. Damaging Effects of the Frauds on the State's Credit in Eastern Cities. Methods of School Furnishing Agents in Corrupting Trustees-Operations of Representatives of an Indiana Firm. DENOUNCED AS FORGERIES. Mr. Kitz Makes an Affidavit Regarding the Validity of Outstanding Orders. The showing made in the report presented to the County Commissioners by Trustee Kitz was the subject yesterday of much comment, and generally it was regarded as a very unsatifactory statement. It was claimed by the friends of the trustee, however, that he had presented his report in the customary form, and that there was nothing wrong in his affairs; that the increased indebtedness could be accounted for by the increase in expenses caused by the growth of population, etc. Inasmuch as the indebtedness. however, is several times larger than was contracted under previous administrations, the defense does not seem to be a very good one. Yesterday afternoon John P. Frenzel telegraphed to North Vernon to learn the dates of the warrants held by Cook's bank, and after receiving a reply giving the desired information, Mr.|Kitz made the following sworn statement, declaring the warrants forgeries: State of Indiana, Marion County, SS.: Ernest Kitz, being duly sworn, says that I am informed that the Jennings County Bank, of North Vernon, Ind., reports among its assets paper of my township purporting to have been signed by me, as follows: One warrant dated April 8, 1885, due June 15, 1888, for $1,500. One warrant dated May 28, 1885, due July 15, 1886, for $1,000. One warrant dated June 17, 1885, due Jan. 15, 1887, for $1,000. One warrant dated July 8, 1885, due July 15, 1887, for $1,500. I state that I never issued such warrants nor paper of any kind whatever. for such amounts and at such dates; and I further state that if any such papers exist purporting to have been issued by me they are forgeries. So far as R. B. Pollard is concerned, I make the general statement that I never gave him nor his representative any of my township paper. ERNEST KITZ. Subscribed and sworn to by Ernest Kitz before me, this eighteenth day of September, 1885. WM. S. HUBBARD, Notary Public. During the day the County Commissioners sent to Mr. Kitz a request for an interview. He replied that he could not see them then, but that he would appear before them to-day. The comments on the exhibit made in the report disclose some things that have not yet been brought to public attention. In an interview with a Journal reporter on Wednesday, Mr. Kitz stated that he had issued no due-bill or warrant for a larger amount than $1,500. Horace McKay, the ex-collector of internal revenue, who is now engaged in the loan and real estate business, told a Journal reporter yesterday that a few days ago he was offered by Mr. McCormack, the lawyer, a warrant for $3,100, bearing the signature of Mr. Kitz as trustee of Center township. The counsel of Cook, the proprietor of the North Vernon Bank, told one Indianapolis gentleman who was in North Vernon yesterday, that Cook had held $5,500 of Mr. Kitz's warrants, but had sold $2,000, leaving the $3,500 found among the assets of the bank when it suspended, and, besides this, Cook had known of $5,000 more of Mr. Kitz's warrants which had been sold in Ohio. A special dispatch from Washington, Ind., stated, yesterday, that Brown, the absconding trustee, had told a friend there that he had received $20,000 in orders from Trustee Kitz. The statement of Mr. Kitz in his report to the commissioners that he had "never had any dealings with R. B. Pollard & Son or Davis & Co.," is contradicted by the firm of Davis Brothers, the school furniture dealers. The following special to the Journal was received from Danville, Ind., the home of the Davis brothers, where the junior member of the firm is now living: "The correspondent of the Journal to-day had a conversation with Mr. Arthur Davis, member of the firm of Davis Brothers, Chicago, in which he spoke of Mr. Kitz's denial of having any dealings with Pollard. He said that Kitz had had dealings with Pollard and that their firm (Davis Bros., ) held orders for $10,000 worth of school supplies for Mr. Kitz, and that these orders were given them by Pellard, but the goods were not delivered because of the exposure of Pollard. He further said that Kitz had bought of them a globe worth $200, and had ordered five more. There have been rumors about the city for several days that an attache of the trustee's office has been actively engaged in negotiating township warrants, and a number of due-bills held by different persons are mentioned that were omitted from the report made by Mr. Kitz to the commissioners. It may be that some of the warrants in circulation have been forged, as Mr. Kitz declares in his affidavit. but there is certainly no longer any doubt that Center township warrants are in circulation. and the total amount which has been reported up to the present time includes: Warrants held by the Nort Vernon Bank $3,500 2,000 Amount sold by Cook Amount which Cook says are held in Ohio 5,000 Offered for sale by McCormack 3,100 Orders held by Davis Brothers 10,000 Offered for sale at Greensburg 4,000 Amount held by Brown, the absconding trustee 20,000 Making the total amount reported $47,600 18,111 Adding the due bills reported by Mr. Kitz The total outstanding indebtedness unauthor$65 711 ized by thecommissi

3. September 22, 1885 Savannah Morning News Savannah, GA

Article from Savannah Morning News, September 22, 1885

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IMPUDENT FORGERIES. A New Phase Developed in the Indiana Town-Ship Bond Swindles. INDIANAPOLIS, Sept. 21.--A new phase of the Indiana township bond swindle was developed here to-day. Heretofore it has been generally understood that these warrants were simply fraudulent, that they had been issued in payment for goods that were never delivered, and that Pollard and his dishonest trustees shared in the proceedings. To-day Edgar Stark, Cashier of the Cincinnati National Bank, came to the city bringing $3,500 worth of warrants purporting to be issued by Ernest Kitz, trustee of the township in which this city is situated. The warrants were submitted to the inspection of Mr. Kitz, and that gentleman at once pronounced them forgeries. The warrants are indorsed by R. B. Pollard, and were placed with the Cincinnati bank as collateral by C. E. Cook, proprietor of the suspended Jennings county bank, of North Vernon. Mr. Stark has retained a firm of lawyers in the interest of his bank, but what further steps will be taken are not yet known.

4. September 22, 1885 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, September 22, 1885

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An Indiana Bond Swindle. INDIANAPOLIS, Sept. 21.-A new phase of the Indiana township bond swindle was developed here today. Heretofore it has been generally understood that these warrants were simply fraudulent, and that they had been issued in payment for goods that were never delivered and that Pollard and different trustees shared in the proceeds. Today Edgar Stark, cashier of the Cincinnati National Bank came to the city bringing $3,500 worth of warrants purporting to be issued by Ernest Kitz, trustee of the township in which this city is situated;t the warrants were submitted to the inspections of Kitz, and that gentleman at once pronounced them forgeries. The warrants are endorsed by R. B. Pollard, and were placed with the Cincinnati bank as collateral by C. E. Cook, proprietor of the suspended Jennings county bank of North Vernon.

5. September 22, 1885 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, September 22, 1885

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Some New Developments. INDIANAPOLIS, IND., Sept. 21.-A new phase of the Indiana township bond swindle was developed here to-day. Heretofore it has been generally understood that these warrants were simply fraudulent; that they had been issued in payment for goods that were never delivered and that Pollard and the dishonest trustees shared in the profits. To-day Edgar Stark, cashier of the Cincinnati National Bank, came here bringing $3,500 worth of warrants purporting to be issued by Ernest Kitz, trustee of the township in which this city is situated. The warrants were submitted to the inspection of Mr. Kitz, and he at once pronounced them forgeries. The warrants are indorsed by R. B. Pollard, and were placed with the Cincinnati bank as collateral by E. C. Cook, proprietor of the suspended Jennings County Bank, of North Vernon. Mr. Stark retained a firm of lawyers in the interest of his bank, but what further steps will be taken is not known.

6. September 22, 1885 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, September 22, 1885

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That Indiana Trustee Swindle. INDIANAPOLIS, Ind., Sept. 21.-A new phase of the Indiana township bond swindle was developed here to-day. Heretofore it has been generally understood that these warrants were simply fraudulent; that they had been issued in payment of goods that were never delivered, and that Pollard and the dishonest trustees shared in the proceeds. To-day Edgar Stark, chshier of the Cincinnati National bank, came to the city, bringing $3,500 worth of warrants purporting to be issued by Ernest Kitz, trustee of the township in which this city is situated. The warrants were submitted to the inspection of Mr. Kitz and the gentleman at once pronounced them forgeries. The warrants are indorsed by R. B. Pollard and were placed with the Cincinnati bank as collateral by C. E. Cook, proprietor of the suspended Jennings County bank of North Vernon. Mr. Stark retained a firm of lawyers in the interest of his bank, but what further steps will be taken is not yet known.

7. September 22, 1885 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, September 22, 1885

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The Indiana Township-Bond Swindle. [By telegraph to the Dispatch.] INDIANAPOLIS. September 21.-A new phase of the Indiana township-bond swindle was developed here to-day. Heretofore it has been generally understood that these warrants were simply fraudulent; that they had been issued in payment for goods that were never delivered ; and that Pollard and the dishonest trustees shared in the proceeds. To-day Edgar Stark, cashier of the Cincinnati National Bank. came to the city, bringing $3,500 worth of warrants, purporting to be issued by Ernest Kitz, trustee of the township in which this city is situated. The warrants were submitted to the inspection of Kitz, and that gentleman at once prorounced them forgeries. The warrants are endorsed by R. B. Pollard. and were placed with the Cincinnati bank as collateral by C. E. Cook, proprietor of the suspended Jenning's County Bank. of North. Vernon. Mr. Stark retained a firm of lawyers in the interest of his bank, but what further steps will be taken is not yet known.

8. September 23, 1885 The Clarion Jackson, MS

Article from The Clarion, September 23, 1885

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Business Troubles. The bank of Forreston, III., has supended. Assets are said to equal liabilities. James Elder, farmer and miller, of Greensburg, Ind., has made an assignment. Henry Arthur & Co., pioneer leather house of New York, have assigned. Liabilities are supposed to be heavy. C. E. Cook, proprietor of the Jennings County bank, at North Vernon, Ind., has assigned. The bank has been dealing heavily in township warrants. The Bank of Harrison, 0., has made an assignment. Liabilities, about $24,000, and assets the same. Among the latter are about $5,500 of the noted Indiana township warrants.

9. October 1, 1885 The Abilene Reflector Abilene, KS

Article from The Abilene Reflector, October 1, 1885

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THE INDIANA FRAUDS. Forgery an Incident in the Indiana Town ship Bond Frauds. INDIANAPOLIS, September 22.-A new phase of the Indiana Township bond swindle was developed here to-day. Heretofore it has been generally understood that these warrants were simply fraudulent, that they had been issued in payment for goods that were never delivered, and that Pollard and the dishonest trustees shared in the proceeds. To-day Edgar Stark, Cashier of the Cincinnati National Bank, came to the city, bringing $3,500 worth of warrants purporting to be issued by Ernest Kitz, trustee of the township in which his city is situated. The warrants were submitted to the inspection of Mr. Kitz, and that gentleman at once pronounced them forgeries. The warrants are indorsed by R. B. Pollard, and were placed with the Cincinnati Bank as collateral by C. E. Cook, proprietor of the suspended Jennings County Bank of North Vernon. Mr. Stark retained a firm of lawyers in the interest of his bank, but what further steps will be taken is not yet known.

10. October 2, 1885 The Iola Register Iola, KS

Article from The Iola Register, October 2, 1885

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11. October 2, 1885 The Red Cloud Chief Red Cloud, NE

Article from The Red Cloud Chief, October 2, 1885

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THE INDIANA FRAUDS. Forgery an Incident in the Indiana Town ship Hond Frauds. INDIANAPOLIS, September 22-A new phase of the Indiana Township bond swindle was developed here to-day. Heretofore it has been generally understood that these warrants were simply fraudulent, that they had been issued in payment for goods that were never delivered. and that Pollard and the dishonest trustees shared in the proceeds. To-day Edgar Stark, Cashier of the Cincinnati National Bank. came to the city, bringing 83,500 worth of warrants purporting to be issued by Ernest Kitz, trustee of the township in which his city is situated. The warrants were submitted to the inspection of Mr. Kitz, and that gentleman at once pronounced them forgeries. The warrants are indorsed by R. B. Pollard, and were placed with the Cincinnati Bank as collateral by C.E. Cook, proprietor of the suspended Jennings County Bank of North Vernon. Mr. Stark retained a firm of law. yers in the interest of his bank. but what further steps will be taken is not yet known.

12. November 12, 1885 The Stark County Democrat Canton, OH

Article from The Stark County Democrat, November 12, 1885

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$1.50 Per Year. THE CONDENSER. The News of the Day Nutshelled for the Hasty Reader. Dean O'Laughlin fell dead while at mass in University college, Dublin. Manotti, the would-be assassin of M. de Freycinet, has been pronounced a monomaaiac. The Dutch government is about to present to parliament bills to raise the import duties on corn and petroleum. The Egyptian government has issued a decree ordering the seizure of crops, animals and houses in case of non payment of taxes. The much talked of telephone case was begun before Secretary Lamar, in Washington. Nothing was done further than the taking of testimony. The strike of the Hocking Valley miners necessitates the closing of iron mills and curtailing the force of the Valley railway, causing much distress. The residence of Samuel A. Burrows, at Fort Wayne, Ind., was destroyed by fire. The residence of Anton Magee, at Delphos, O., suffered a like fate. The police department of Louisville are making it unpleasantly warm for the army of thieves and thugs who have infested that city for some time past. A requisition bas been issued by the gov. ernor of Massachusetts, for Landlord Mellon, of Baltimore, charged with conspiracy to murder his daughter-in-law. The German army estimates show an increase of $4,000,000. The total expenditure is estimated at $62,500,000, of which $26,875,000 will be covered by a loan. The funeral of Hon. Henry B. Curtis, at Mt. Vernon, O., was attended by a number of distinguished men from abroad, and business was suspended in the city. Charles E. Cook, proprietor of the broken Jennings County, Indiana, bank, at North Vernon, is paying off depositors and other creditors at fifty cents on the dollar. At Cleveland, O., Bishop Gilmour invested Monsignor Felix M. Boff, vicar genoral of the Cleveland diocese, with the title and insignia domestic prelate to the pope. There are rumors of another outbreak of difficulties between the Western Union and Baltimore & Ohio Telegraph companies, and it is reported that the former will soon begin cutting rates.