6347. Farmers State Bank (Valparaiso, IN)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
February 25, 1920
Location
Valparaiso, Indiana (41.473, -87.061)

Metadata

Model
gpt-5-mini
Short Digest
4c9acbdb

Response Measures

None

Description

State examiners/state auditor ordered the bank closed because of a large shortage; it was reorganized and reopened a few days later. Newspapers mention a predicted run that failed to materialize, so no actual run on this bank is recorded.

Events (2)

1. February 25, 1920 Suspension
Cause
Government Action
Cause Details
Closed on order of the state auditor; state examiners closed the bank after finding a shortage of more than $200,000.
Newspaper Excerpt
The Farmers' State Bank of Valparalso, closed Wednesday on order of the state auditor, will be reopened, under a reorganization. probably Monday, and a shortage of more than $200,000 will be made good.
Source
newspapers
2. March 2, 1920 Reopening
Newspaper Excerpt
The reorganized Farmers' State bank reopened for business Tuesday morning. The predicted run failed to materialize and there was no excitement attendant upon the opening. By noon approximately $30,000 had been deposited without a single account being withdrawn, similar conditions ensuing at the reopening of the bank at Hobart.
Source
newspapers

Newspaper Articles (3)

Article from Evening Star, February 29, 1920

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Article Text

Indiana Bank to Reopen. VALPARAISO, Ind., February 28.The Farmers' State Bank of Valparalso, closed Wednesday on order of the state auditor, will be reopened, under a reorganization. probably Monday, and a shortage of more than $200,000 will be made good. A receiver will be asked for the Bank of Hobart, at Hobart, Ind., a subsidiary of the Valparaiso bank, it was said.


Article from The Richmond Palladium and Sun-Telegram, March 3, 1920

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Article Text

REORGANIZED BANK OPENS VALPARAISO, Ind., March 3. -The reorganized Farmers' State bank reopened for business Tuesday morning. The predicted run failed to materialize and there was no excitement attendant upon the opening. By noon approximately $30,000 had been deposited without a single account being withdrawn, similar conditions ensuing at the reopening of the bank at Hobart.


Article from Iron County News, March 6, 1920

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Article Text

Eighty-five guests at the Mudlavia Springs hotel and sanitarium at Kramer, Ind., narrowly escaped death in a fire which destroyed the entire group of structures. ... After deliberating 30 hours a jury at Cedar Rapids, Ia., found Henry Tonn, Chicago I. W. W. organizer, charged with criminal conspiracy and syndicalism, guilty. * * * When he took for a joke a command to throw up his hands, and instead continued laughing on his way, Russell Barway, twenty, was shot and killed by a highwayman at Akron, O. ... Thieves who entered the Robert Lonmann general merchandise store at Wheatland, Ia., robbed the store of shoes, dress goods, gloves, suits and other merchandise valued at $2,500. ... Mexican aviators stationed opposite Eagle Pass, Tex., crossed to Eagle Pass in a body with floral offerings for the funeral of Lieut. Horace Corey of Chicago, an American army aviator killed in a fall. ... The Farmers' State bank at Valparaiso, Ind., was closed by state examiners. The last statement showed, December 31, resources, $936,239. There were deposits of $706,487. The Hobart bank also was closed. ... Daniel J. Schuyler, Jr., and Charles Weinfeld, attorneys at Chicago were indicted on two indictments each charging them with turning in fraudulent income tax returns for 1916. ... John Cavanaugh, president of the Des Moines National back, was appointed receiver for the Associated Packing company of Des Moines, Ia., capitalized at $5,000,000. ... Eighty sheriffs of the 101 in Illinois gave their indorsement to the plan of permitting jail prisoners to witness hangings. It was the annual meeting of the association at Springfield. .... Sixty-one still outfits have been seized in and near Okmulgee, Okla., in a week and eight alleged moonshiners arrested.