6320. Terre Haute Trust Company (Terre Haute, IN)

Bank Information

Episode Type
Run Only
Bank Type
trust company
Start Date
November 12, 1931
Location
Terre Haute, Indiana (39.467, -87.414)

Metadata

Model
gpt-5-mini
Short Digest
8394be8d

Response Measures

Accommodated withdrawals

Description

President James Cooper's suicide (Nov 12, 1931) triggered heavy withdrawals. The Trust Company experienced steady withdrawals but remained open; directors elected temporary officers. Nearby Citizens National Bank and Trust temporarily closed due to runs, but that is a separate institution.

Events (1)

1. November 12, 1931 Run
Cause
Rumor Or Misinformation
Cause Details
Baseless fears and public nervousness following the president James Cooper's suicide prompted heavy withdrawals.
Measures
Directors met and elected temporary officers; bank remained open and continued paying depositors.
Newspaper Excerpt
Meanwhile, depositors keep up a steady withdrawal of funds from the Terre Haute Trust Company as a result of the president's death, but the company remained open. Directors met this morning and elected temporary officers.
Source
newspapers

Newspaper Articles (2)

Article from The Indianapolis Times, November 12, 1931

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Article Text

TERRE HAUTE BANKER TAKES HIS OWN LIFE James Cooper, Prominent in Legal, Financial Circles, Cuts Throat. SUFFERED BREAKDOWN Aided Frank Dailey in U. S. Prosecution of Ballot Fraud Cases. By United Press TERRE HAUTE, Ind., Nov. 12.James Cooper, 57, president of the Terre Haute Trust Company, one of the largest banks in western Indiana, committed suicide at his home here today. Cooper slashed his throat with a razor. Last Monday Cooper suffered a nervous breakdown. He had been under the care of a physician since. The Citizens National Bank and Trust Company closed its doors shortly before noon today, after a morning of heavy deposit withdrawals. Directors issued the following statement: "The unusual demand for money today brought about by the baseless fears caused by the untimely death of James Cooper, president of the Terre Haute Trust Company, has made it necessary to close the Citizens National Bank and Trust Company for a short period, as a protection to depositors." It also was announced that a thorough check of the institution's finances had revealed that the bank was "thoroughly solvent." Meanwhile, depositors keep up a steady withdrawal of funds from the Terre Haute Trust Company as a result of the president's death, but the company remained open. Directors met this morning and elected temporary officers. James Cooper, well known in Indianapolis legal circles, was a member of the Terre Haute law firm of Cooper, Royse, Gabmill & Crawford. He maintained the legal practice in addition to his duties as head of the Terre Haute Trust Company, presidency of which he assumed several years ago when James S. Royse, then president of the bank, committed suicide. Cooper was assistant to Frank G. Dailey, Indianapolis attorney, in 1915 in federal court trials growing out of the Terre Haute election fraud. Cooper once was prosecutor of Vigo county.


Article from The Times, November 13, 1931

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Article Text

OF TERRE HAUTE, Ind., Nov. 13.(I.N.S.) Officials Terre Haute Trust company, $8,500 institution, Cooper, 57, killed himself early yesterday, run the by forced the National bank, bank, to close doors yesterday. came yesterday line of depositors still standing front the trust company herded bank and the doors then locked. All in the line given the opportunity their money. Officials the bank there funds hand meet the bank good condi-