6353. Valparaiso National Bank (Valparaiso, IN)

View Charter #6215 on SPMC

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 6215
Charter Number: 6215
Start Date: January 11, 1932
Location: Valparaiso, Indiana (41.473, -87.061)

Metadata

Model: gpt-5-mini
Short Digest: 0dbf5662

Response Measures

Full suspension

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1932-01-20
Date receivership terminated: 1937-09-08
Share of assets assessed as good: 29.0%
Share of assets assessed as doubtful: 68.9%
Share of assets assessed as worthless: 2.2%

Description

Multiple articles state the Valparaiso National Bank was the first of three local banks to experience runs and it was closed by the Comptroller/department on Jan 11, 1932; a federal receiver (F. Clay Haymond) was appointed and the bank was liquidated (assessments, suits, and dividend payments followed). Thus sequence: run → suspension/closure with receivership and liquidation. No reopening; dividends were paid during receivership.

Events (7)

1. April 18, 1902 Chartered

Source: historical_nic

2. January 11, 1932 Run

Cause: Macro News
Cause Details: Persistent withdrawals and a general wave of public hysteria/nervousness that swept the nation and local area, producing heavy withdrawals on the city's three banks.
Measures: None specified for stopping withdrawals in the articles; later receiver appointed and liquidation steps taken.
Newspaper Excerpt: Valparaiso National bank being the first, to be followed by the Farmers' State, two hours later.
Source: newspapers

3. January 11, 1932 Suspension

Cause: Government Action
Cause Details: Closed by order of the Treasury/Comptroller of the Currency and placed in receivership.
Newspaper Excerpt: The bank was closed on order of the department on Monday, Jan. 11, 1932
Source: newspapers

4. January 20, 1932 Receivership

Source: historical_nic

5. February 1, 1932* Receivership

Newspaper Excerpt: Mr. Haymond was sent here in February, 1932, to take charge and liquidate. (F. Clay Haymond, receiver...)
Source: newspapers

6. August 25, 1932 Other

Newspaper Excerpt: A 35 per cent dividend, payable to depositors of the Valparaiso National bank, which closed in January, was announced Wednesday...
Source: newspapers

7. December 17, 1934 Other

Newspaper Excerpt: The bank was closed on order of the department on Monday, Jan. 11, 1932... Receiver Haymond has $38,000 hand to distribute to former depositors... total dividends paid by the closed banking house to approximately $600,000 or about 77 per cent of the deposits.
Source: newspapers

Newspaper Articles (13)

1. March 5, 1932 Vidette-Messenger of Porter County Valparaiso, IN

Article from Vidette-Messenger of Porter County, March 5, 1932

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APPLEGATE IS REMOVED BY JUDGE'S ORDER Stockholders Who Asked His Removal, Claim Reports Ordered, Were Never Made. $7,500 ON DEPOSIT IN NATIONAL BANK T. L. Applegate, former cashier of the Valparaiso National Bank, was removed as receiver for the Porter County State Bank of Kouts by Judge Grant Crumpacker in Porter circuit court this morning. The action came after members of stockholders' committee, comprising Edward O'Brien, Herman Kosanke and A. F. Hofferth, filed petition late Friday asking that the receiver be removed and he be cited for contempt of court. It was charged by the committee that the receiver had failed to request payments of persons owing notes to the bank, and that on two occasions, when ordered by the court to file reports, never com- On Feb. 4, at a meeting the receiver and depositors, an agreement was reached whereby a committee was named to co-operate with the receiver in the collection of notes due the bank. At the time Judge Crumpacker ordered the receiver to make a report within 30 days. Friday was the last day and no report was filed. Judge Crumpacker's order today called for the filing of report by next Tuesday, and also the resignation of the receiver. At the time of its closing the Kouts bank had resources of $200,000. Only per cent dividend has been paid to date. According to recent report of the receiver, a total of $7,500 in money on deposit in the Valparaiso National bank, which closed its doors on Jan. 11. Depositors of the Kouts bank maintain that this money have been distributed some time ago as dividend, and they threaten to sue the receiver on his bond. Charles H. cashier of the Kouts bank, prison forgery petition to charge off in notes, most which were forgeries. Cannon, was filed sometime ago with Judge Crumpacker.

2. March 14, 1932 Vidette-Messenger of Porter County Valparaiso, IN

Article from Vidette-Messenger of Porter County, March 14, 1932

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WELL PLANNED SYSTEM USED RECEIVER SAYS F. Clay Haymond, National Bank Receiver, Makes Statement Regarding Liquidation. BANK ACT CALLS REPORTS QUARTERLY F. Clay Haymond, receiver of the Valparaiso National bank, said today that apprehension and misunderstanding of depositors and claimants of the bank over the manner in which the institution being liquidated, is unwarranted. "The public," he said, "does not fully appreciate the careful and deliberate manner in which the affairs of the receivership have been planned with the object in mind executing my trust in the most effective "While unwarranted apprehension may arise on the part of some persons who lack an understanding the regulations of the treasury and the requirements the national banking act concerning the administering of ceiverships, have determined proceed with the discharge of my trust in the regular manner outlined by the treasury department. "Under the law, every depositor every other claimant is required to file claim within three months from the date of the first publication of notice to do so. "To date large number of sons have filed their claims with me, and in every instance necessary that the pass books, certificate of deposits, cashier's checks and other evidences of bank debtedness be turned over to me. "In order to expedite the handling of tremendous volume claims be presented, carefully planned system has been worked out whereby the data and the amount of the claims are contained in prepared statement, which in (Continued on page 3, column

3. April 21, 1932 Vidette-Messenger of Porter County Valparaiso, IN

Article from Vidette-Messenger of Porter County, April 21, 1932

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RECEIVER OF NATIONAL TO BE IN CHARGE Comptroller of Currency Orders Step to Make Liquidation; Time to Be Given for Payment. WILL BE LEVIED ON 100 PER CENT BASIS Stockholders of the Valparaise National Bank, which closed its doors on Jan. 11, last, were notified Wednesday by J. W. Pole, comptroller of the currency, United States Treasury department, that a 100 per cent assessment had been levied against their share holdings, The notice mailed to all shareholders of the bank contained the following reason for the "Whereas upon proper accounting by the receiver to collect the assets of the Valparaiso National Bank, and upon a valuation of the uncollected assets remaining in his hands, it appears. my satisfaction that in order to pay the debts of such association it is necessary to enforce the individual liability of the Under the order of Comptroller Pole, shareholders are liable for the full amount of the capital stock of the bank, $150,000. This amount must be paid on or before May 21, 1932. Clay Haymond, receiver the bank, is directed to take necessary proceedings, by suit otherwise, to enforce the individual liability of all shareholders owning stock at the time of the bank's closing. Receiver Haymond authorIzed, however, by the comptroller to grant an extension, without interest, to shareholders who pay 25 per cent of the on or before May 21, providing they give a written obligation, satisfactorily guaranteed, to pay 25 per cent additional on or before June 21. 1932, 25 per cent on or before July 21, 1932, and the remaining 25 per. cent on or before August 21, 1932. Deferred payments will bear interest after May 31, 1932, at the legal rate, except that interest may be abated in the case of any shareholder who pays one-fourth of his assessment on or before the dates at which they mature, under the terms of the extension. Shareholders of the bank are scattered in various parts county. Because a splitting of several big a number of years the number shareholders was materially Increased.

4. May 26, 1932 Vidette-Messenger of Porter County Valparaiso, IN

Article from Vidette-Messenger of Porter County, May 26, 1932

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JUNE FIFTH LAST DAY OF GRACE FOR FILING CLAIMS AGAINST THE NATIONAL BANK, RECEIVER SAYS All depositors of the Valparaiso National Bank who have not filed claims with the bank are requested to do so at once, F. Clay Haymond, receiver, announced today. According to several bank depositors who had not filed, they were under the impression that they were not compelled to do so, but only "ants were required to comply with the order. However, all depositors are included in the claimant ranking. Their deposit in the bank is claim and they must file. Receiver Haymond stated he will not be able to pay out any dividends to depositors who do not file claims with him as required by the federal banking act. Unless depositors act the payment of dividends to them will be held up and it may be they will receive nothing for the money they had on deposit in the bank.

5. August 25, 1932 The Indianapolis Times Indianapolis, IN

Article from The Indianapolis Times, August 25, 1932

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Dividend Declared by Bank VALPARAIS, Ind., Aug. 25.-A 35 per cent dividend, payable to depositors of the Valparaiso National bank, which closed in January, was announced Wednesday by The H. Clay Haywood, receiver. dividend will amount to $220,000.

6. August 26, 1932 The Indianapolis Times Indianapolis, IN

Article from The Indianapolis Times, August 26, 1932

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ORDER BANK PAYMENT 35 Per Cent Dividend Approved in Valparaiso Failure. By United Press VALPARAISO, Ind., Ang. 26.The first relief from financial difficulties here following three bank failures was seen today with an announcement that a dividend will be available for depositors of the Valparaiso National bank. F. Clay Hammond, receiver for the institution, said that the treasury department had approved an immediate dividend payment of 35 per cent. The $220,000 will be sent out at once, Hammond said.

7. August 26, 1932 The Pharos-Tribune Logansport, IN

Article from The Pharos-Tribune, August 26, 1932

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VALPARAISO BANK PAY DIVIDEND VALPARAISO, Ind., Aug. first relief from financial difficulties here following three bank failures seen today with an announcement that dividend will he available to of the Valparaiso National bank Clay Hammond receiver for the institution. said that the treasury department had approved an immediate dividend payment of 35 per cent. The be sent at once. Hammond said.

8. August 29, 1932 Vidette-Messenger of Porter County Valparaiso, IN

Article from Vidette-Messenger of Porter County, August 29, 1932

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RECEIVER HAS STARTED SUIT ON TRANSFERS Former Director of Valparaiso National Who Passed Property to Wife Daughter Mus. Defend. SUIT ON ASSESSMENT IS ALSO PENDING LeRoy M. Pierce, veteran Valparalso business and insurance banker today defendant two federal actions as the result his association with the Valparaise National Bank. Receiver Clay Haymond, under whose leadership the banking stitution which, until its was the largest financial tion in Porter last week began payment of per cent dividend to creditors, volving some $220,000, and thus scoring one of the best records of bank receiverships during the pression, is complainant in both actions against Mr. Pierce. The latest filing was made Hammond federal court Saturday. alleges that Mr. tober of last year, transferred pieces of property. one the Lincolnway, the other farm properties, to his wife and daughter, Loucartha Pierce Doyle, Chicago, and that, able the assessment of $5,750 lodged against him by reason of his ownership of stock in the Valparaise National Bank which closed doors in January of receiver asks that the property transferred by Mr. Pierce to wife and daughter, be returned to him, through the setting aside the articles of conveyance. Two weeks ago Mr. Pierce made defendant in federal action. asking for judgment against him in the sum of his stock and I ment liability. These are the first two court tions filed by Receiver Haymond. He announced at the time the first Pierce action was filed suits would be filed against other stockholders of the National Bank

9. November 28, 1932 Vidette-Messenger of Porter County Valparaiso, IN

Article from Vidette-Messenger of Porter County, November 28, 1932

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NEW BRITISH NOTE DRAFTED DEBT ENTER JUDGMENT BY HENRY T. RUSSELL BY KOUTS BANK RECEIVER (United Press Staff Correspondent) LONDON, Nov. new British war debt note, drafted over the week-end, was expected today to claim that if the United States insisted on payment of the $95,000,000 December installment there would be world financial repercussions. The question of payment or fault would remain unsettled the by (Continued on page 3, column Judgment in the sum of $7,418.17 was entered this afternoon in Porter circuit court by Judge Grant Crumpacker in favor of Edward M. O'Brien, of Kouts, receiver for the defunct Porter County State Bank of Kouts, against Thomas L. Applegate, former receiver, and the United States Fidelity and Guaranty Company, of Baltimore, Md. The judgment against the defendants represents money belonging to the Kouts bank which was on deposit in the Valparaiso National Bank when it closed on January 11 last. Mr. Applegate, as former receiver of the bank, was held accountable for the amount by Judge Crumpacker when It was shown that the money had been in the bank for nearly year and the receiver had failed to make report to the court after having been notified to do The Kouts bank closed its doors in April, 1927. when an audit by examiners for the state showed the bank's affairs to have been grossly mismanaged. Resources of over $200,000 dwindled by reason of forgeries and bad loans so that only small amount was realized. One dividend of five per cent, was paid. Edward Ryan, of this city, was attorney for Receiver O'Brien, and John P. Crumpacker, of this city, was counsel for the defendants.

10. December 21, 1932 Vidette-Messenger of Porter County Valparaiso, IN

Article from Vidette-Messenger of Porter County, December 21, 1932

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FARMERS' STATE BANK WILL REOPEN JANUARY 2 TO GIVE CITY GOOD START NEW YEAR Directors of Farmers' State Bank today broadcast "good news" for the city and pointed for the launching of new year. This was their message: "Farmers' State Bank will reopen for business on January 2." The bank suspended operations one year ago Monday, Jan. 11, 1932, as result of runs that made on the city's three banking institutions as the culmination months of persistent withdrawals due to adverse business conditions and general wave of public hysteria that swept the nation. Two of the three banks were forced to close, the Valparaiso National being the first, to be followed by the Farmers' State, two hours later. The First State Bank weathered the crisis and, with the support of depositors and the public, placed its affairs in condition continue operations on sound basis. Community confidence was quickly restored and Farmers' State was placed the hands of Edward Ohifest as liquidating agent. under the direction of the board of directors with supervision by the State Banking Department. Valparaiso National Bank was placed in receivership with Clay Haymond as receiver. It has paid 35 per cent dividend. Farmers' State Bank will reopen with P. W. Clifford president Edward Ohlfest as cashier and B. H. Kinne as assistant cashier.

11. December 31, 1932 Vidette-Messenger of Porter County Valparaiso, IN

Article from Vidette-Messenger of Porter County, December 31, 1932

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resident, dies in California; state tax board to pass on Porter county's July LaHayne of Crocker found dead in cow Porter counhighway department spends $18,000 less on highways first half 1932; Ellsworth Lawrence, 18. Chidrowns Waverly Beach; Attorney Dowdell celebrates birthday. road by highway commission for $145,000 to John Edelman company Muskegon Heights, Mich. George Ralstone, former in Chicago. South Whitley and two Valparaiso people hurt in auto crash on State Road 30; John Hershman, dies at Wanatah home. Waters, commander "bonus army" former Hebron man; Porter, pastor, and family given reception by congregation; Mrs. Mary Winter jured on State Road dies in Gary hospital. 16-Eighteen employees Valpapostoffice get cut in pay heart attack claims life Mrs. McNay, John Rhue, county infirmary mate, dies without revealing past; city library will carry on despite shortage of funds. McNay, Turlock, first rural carrier Valparaiso postoffice, retired on pension; Walter Weldon, former resident, dies in Chicago. 18-Herman Lutz, former resident, dies South Bend; Stanley Burkowski, state policeman, injurin crash on Dunes county officers asked to make out budget expenditures. flyer jumps track Hamlet but no one James McCafferty, 101, works at forge during extreme heat. township trustees saving in bus driver Cook named member city council place Harry S. Albe: second district republicans to honor Chairman Freund at testimonial dinner. Harrop, water works contractor, dies at South Bend home; Auditor Blachly tributes $12,000 in school money; republicans of second district hold rally at Winona Lake. August Porter county teachers' institute to be held September and Louis Alyea, 30, drowned Kankakee river near Hebron while trying save life of niece; Sheriff Burney Maxwell raids farm near Wheeler and gets 75-gallon still, moonshine; Chesterton world war victim, dies; Mrs. George W. Anderson, 41, dies results of auto injuries received Road Edward bank receiver, sues surety company for funds in closed bank. 23-City council repair two more streets; Dr. Cook resigns health accept council post; council members structed not make purchases without Heisman, 36, Chicago, drowns at Lake Eliza; bandits steal car and meney from Mr. and Mrs. McLaughlin, of Chicago, Dunes relief road, near 25-Frank Gable victim of mystery shot; Bowser makes appeal to Rotary club for new political deal; Robert Stancliffe, dies in Chicago; John Stupeck, Michigan City. Emma Cain, 80, and Mrs. Harold Martin, 32, die; Earl Simpson, 44, former Hebron man, murdered near Ford, Kansas; state highway commission buying rightfor road. Hull, drowns club camp in Dunes state park; Jay Buchanan, of Hebron, seriously injured in head-on auto crash near Hebron; Dunes highway justice denies charges that Chicago motorist was shaken down for reckless store, in co-operation with county agent, farm bureau and clubs, to hold fair October; Louis Gatto, alleged white slaver, fights move immigration officers to deport him; Frank Bowman case appealed the supreme court. Hood, age 80, dies home daughter, Mrs. Oldham; Hodsden ditch in Union townfinished, but property owners $937; Loring re-elected Porter county bankers. 30-City Valparaiso largest debtor water department; drop valuation makes necessary cut county costs; full time attendance officer wanted by Valparaiso school city. Valparaiso to ask for on street lighting current; Miss Elizabeth Myers, 80, Mrs. dies; Maude Heinmiller, 62, dies. AUGUST council asks for new bids street lighting; state tax board approves $6,000,000 for Porter counfor three cent postage to add $1,000 to local postal 2-Local health officials act quickly to check typhoid cases; Rachel Allen, 88, of Hebron, dies. state bank held up bandits who bind cashier and take $4,900; Valparaiso swept by flood following cloudburst; Emory Bowyears, dies; only actors found in 16,000 Porter county tested for tuberculosis. King, meets death, Herman Tetzloff, critically injured in crash at oleon street crossing railroad; Mrs. Henry Lemster health expert Rose Batch, Draft plan for free lunch Lee preach Sunday Wanatah where preached than take swimming school sponsored by Red Cross; John Harbeck, 73, dies; ter bank loot $3,474. 8-Mrs. Joseph Zusman. and Mrs. Ada Ziker, killed in auto crash on Dunes Elmer Kostelnik, Chicago, drowned Michigan, near Ogden Dunes. August Gessa, 27, dies; Charles Ross Gay dies South hold Bryant Haneby, Chicafor manslaughter in Dunes goan, Mrs. Henry Fleming, dies Wheaton, Edmund Freund lauded testimonial dinner given Dunes state park pavilion by second district republicans; Dodge Telegraph and Radio Institute suspend October search for Whiting youth supposed drowned Long Lake. department loses water supply when Tratebas dam goes out; remains Mrs. John Boyer buried here. Leland Brown retires pastor Hebron Christian church and will be succeeded by his wife: Joseph O'Connell, commits cide by shooting thief steals Hebron theater movie outfit. Norman Girton, age died of lockjaw. county's taxable wealth shrinks according to auditor's compiliation; City Engineer Dickover shifted head street department, Edward Deu made city health board asks that sewers be cleaned of Mrs. Rosemond Thomas, Hamlet Ind., dies here on city council votes to hire expert to make survey local gas and electric rates. persons offer services city to serve on police department low city library culation shows gain last year. 15-County bridge at Tratebas mill build new John Thatcher, 55, former pond; resident, dies Seattle, Wash. Hannah of Hebdies: Mrs. Henry Wilferth, resident, dies Osage, Mo.: mer Newman, Christian James Mrs. Henry Borneman, hospital: mother George Schutes, dies Mrs. Ind. tax revision to Porsave ter county taxpayers in teacher staff well Porter county this Pierce sued trained year; stock liability in Valparfor National Bank; Leon Pierce, 18, of trench disease: John dies resident, dies Fort former schools open Sept. Charles Leudtke, dies; Mrs. 12: Chesterton, dies. Joseph author praises decorations Charles Pratt Post, American Legion: Dunes highway after being under repair opened June. school officials 1933 city offifrom and taxpayers meet city hall discuss budget for 1933: Drew killed in Dunes Highway Cain, Porter: eleven auto mishap near students get degrees at Valparaiso school; Hebron University summer off when big light and water cut truck wrecked. 72, suicides strychnine: Harry Stewtaking retired from railway mail serRev. after years Joseph McMillen, Chicago, drowned in Lake Michigan near Dunes state park. 22-Steward Stone, Royal Oak, Mich., instantly killed, and James Fitchette, Detroit, Mich, fatally by hit and run motorist injured relief highway while hitchDunes county's 4-H clubs Porter county fair at fair grounds. county plan Labor Day rally at fair rousing Mrs. Eleanora Lutz, grounds: dies; city's milk supply being discovery of malwatched following Mrs. Sarah Weiler, National Bank 35 per cent dividend, totaling pay $220,000; Donald Swank, age 11, electrocuted when he climbs pole witness Mrs. Minnie plane Robinson, 75, Foster Lumber and Coal company gets Salt Creek bridge contract. authorities to city contest for lower electric rates; Mrs. Soltz, this dies in Valparaiso National Bank depositors collect 35 per cent dend. Semanick, youth, missing three weeks, found floating in Flint Lake; city board health quarantines two scarlet fever carriers; 104 ployed on state road south, ening: Vauter, former dies hold rally here. plans for Moose rally September 23-24; Pleasant township farm hand wolf; and Mrs. Frederick celebrate golden wedding. Swanson, near Chesterton, dies in Michigan City injuries; Mrs. pital Anna Wheeler, dies Hebron. August Vitoux, 64, west Mrs. Fred dies heart attack; Lawrence Miller, dies. Fabing retires Nickel Plate agent after years service with Lucian Lowman, 14, of Hebron, killed county 4-H club boys receive awards; county council names three members county adjustment board; local view SEPTEMBER tax increase cents; Industrial Grand Rapids, buys Valparalso sewer bond of city council votes approval garbage contract held void Daly. county teachers hear school costs defended county institute: Carichoff, former resident, dies West Virginia; believe bandit gang has headquarters in Valparaiso. Bailey dies Wanatah home; Womans' Club stage flower show: LaPorte county coroner unable to identify body negro killed Wanatah. Thatcher, superintendent dies: Porter teachers' county musical program, talks. thousand attend Labor celebration Porter Day fair Mahlon Cain county ground; and James Minger have narrow falls east of city. escape when plane Esther Thayer, Chicago, Mrs. Bertch, South Bend, killed in accidents Dunes highDunes relief road over way Labor day; civic group asks in county budget. council slashes $15,000 budget for with from county drawing reductions; judges Mrs. Bordeau dies at KalamaMich., after long illness; seven fined; seven cases dismissed persons three manslaughter, and including one continued record Judge Rockwell. Raasch, 80, Valparaiso killed near Upper Sandusky man, and three members family Chris Gruenert, injured; eightyroads will not be built because moratorium road build- county's road system cost six Wheeler to base for Road construction Valparaiso and Hobart; fedtween eral prohi agents round up gang, which Sam Rudman, Valparaiso alleged leader: Mrs. Hannah Keene Teeple, 84, Julius Wojohn, Mrs. Minnie Runddies Liberty township. tax levy to increase traffic an halted Lacrosse freight train wrecked. now included county system with saving taxpayers; Mrs. Charles Smith, former resident, dies in Gary. Ida Price escapes death struck by Grand Trunk train Prattville crossing: Valparaiso Department plans drilling million gallon well; pupils Valparaiso schools return studies. 13-Mrs. Boucher to make political talks for republicans Iowa; men rush Wheeler get jobs new State Road 130 grading: county school count shows back Indiana Moose conclave: papers from stolen paraiso filling station safe found Michigan: men working on State 49 are all from Porter Carpenter change of venue in ouster suit filed against him; wife saves life William Brown, Union township farmer. schools enroll first week; Harvey Carey, dies; Herman Mitzner, former resident, dies Michigan City; state spend on Dunes state park entrance. Daly, fair promoter, sought on theft charge; one hundred attend fall conference Christian churches Porter county here yesterday; city flushes streets as health move. Lutes, 30, Chicago, drowned in Lake Michigan; William Hicks, Joseph H. Durand, County Tax Adjustment board convenes and Bowser named chairman; paraise Pontiacs win baseball tourney Brown field over Chesterton DeMotte. county tax board approves county levy and county unit road levies; Mrs. Henry Stoner, dies; two bandits hold up Joliet bridge gas station. county tax board passes eight tax levies; Mrs. Orville Irwin, former resident, dies Milan, local Moose await arrival state conclave throng. Daly and Edmund LaTour killed in crash Dunes relief road early today; Valparaiso student body greeted by President Kreinheder. county tax board reduces levies Westchester township Dunes Acres; Indiana Moose here for two days' conclave; Elmer VanBuskirk insane hospital Michigan City prison on assault charge. parade Moose thrills city; Mrs. Pauline Kosanke, dies Kouts Mrs. Arno Breyding, dies; Marshall, Indianapolis, nabbed here on white slave charge. Grove Christian church eightieth anniversary Chicago. county demands Lake county pay $18,000 court costs; Samuel Gordon, age 83, dies Wheeler home; Lee Carey home Dobbins farm near Wheeler burns. county tax adjustment board cuts rate Civil City Valfrom $1.79 Dickover ramed director Bank. county judges not Lake county cases council's action costs; Lake county Porter county naming Dickover Home

12. December 31, 1932 Vidette-Messenger of Porter County Valparaiso, IN

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OF 1932 TIME'S MARCH (Continued from page one) illegally contracted by Councilman Cleveland as of the purchasing but upheld later in federal court action. decision on the part of the Porter County Fair rectors to the annual exhibition in 1932 announcement by Receiver Clay Haymond of the closed Valparaiso National bank of percent assessment upon two of the April, during which month the city council electAttorney Bartholomew succeed Harold W. Cleveland vote of three Harry Lee Ragsdale refusing to attend the meeting. Politics boomed forth with gusto during May, due to the primary election which brought defeat Judge Grant Crumpacker, seeking renomination the republican ticket, by former Prosecutor CharJensen of Chesterton, the being the Virgil Kirkland case; the defeat of Morthland for county surveyor nomination by Guy Stinchfield, and Professor Virgil Berry's triumph over Ira Tilton for the democratic judicial nomination. mund Freund was elected republican county chairman and Frank Morton, democratic county chairman. Mr. Freund was honored with the second district republican chairmanship, and Tilton was named secretary second district democratic committee. The high school band won third place in the band contest at Evansville. Valparaiso got glimpse of the bonus that when the first day of the month about veterans tarried here the grounds and were given free transportation the Grand Trunk the next day to South Bend. Valparaiso was host the state and Tri district meeting. Valparaiso versity graduated class sixty-five the annual commencement rites. home. Valparaiso was declared With the state having declared fourth class by Judge Grant on local road building in Lowell for five Crumpacker test years, announcement by the Thomas, famous war Indiana state highway ent and visited Valparaiso that contract had been let for the university, his alma mater, construction of the Valparaisogave talk. Westville bank president Hobart road to John Edelman foils bank robbery. Lafayette, Ind., Company Muskegon Heights, interests plan to Mich., of was one the stock yards here. most important items Valparaisoans during July. The One the encouraging holdup of the flashes of year the of San nouncement by the directors of the band five bandits bank that the Albert Benham, deaf mute, because he was unable to comprehend their demands halt. SherBurney Maxwell gallon still at Sparks Wheeler. Ohio Oil company started work on $20,000 Linco oil filling station corner Indiana and Franklin avenues. Rev. Frank Briggs was transferred to Terre Haute, Ind., Methodist church, and succeeded Rev. Porter Terre Haute. Two the important news events of August pertained banks. Bandits held up the Porter bank, after cashier taking the Valparaiso National bank declared thirtyfive totaling $220,000. Valparais, was threatenwith typhoid epidemic and state was called free lunch plan for city school dernourished children was drafted. Valparaiso became convention center September when the Indiana Moose came here for its day conclave. The Porter County Tax Adjustment Board, called session with Bowser chairman, slashed the Valparaiso city civil from $1.79 to An attempt on part Daly South Bend to on county fair proved flop. During October litigation played prominent part. Dr. Samuel Bell. Hammond dentist, convicted jury in Porter circuit of filing fraudulent claims against North county, poor fund. Councilman Bernard Carpenter's election Valparaiso city council was held legal by Judge Alfred Link LaPorte. Clifford was elected of the FarmState bank, succeed Hughart. Frederick retires head of the Mica Fibroc companies. The City of Valparaiso build new cemetery, southwest the November brought startling things in way election sults with Neil Fry, democrat, winthe sheriff's and MorPorch and Frank Bender, gan democrats, winning out for county Herbert Hoover carried Porter county by only eighty-nine in contrast to 4,000 before. Mrs. years Nagle, Tremont barbecue opwas found murdered her and build stitution, since January would be reopened on January Valpar livestock producers assured that great benefits could the new livestock yards to be placed in eration after January The Porter County Board of Children's Guardians, in charge dependent children, scored for alleged failure function John City council approved $100,000 bond and assignment Harrop contract construction 500,000 gallon storage tank and three miles of new mains waterworks p'ant Dean Falber Lafayette. Fred slayer of aunt, Mrs. Helen Nagle, of Tremont, captured Jacksonville, and indicted by Porter circuit court grand jury. He enters guilty and sentenced to life imprisonment Michigan prison. Kouts bank receiver declares three perdividend to depositors. Frank W. county Claude as automobile license bureau manWanatah bank robbed by five daring County Bar association gives farewell banguet to Judge Grant Crumpacker, retires January

13. December 17, 1934 Vidette-Messenger of Porter County Valparaiso, IN

Article from Vidette-Messenger of Porter County, December 17, 1934

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1,800 GET BANK Receiver F. Clay Haymond of Valparaiso National Bank Announces Receipts of Dividend Checks NEARLY $600,000 HAS BEEN RETURNED "I've got money for you and get it!" come This was the cheering justgreeting sent to some 1,800 Valaraiso and Porter county individuals late this afternoon by F. Clay Haymond, receiver for Valparaiso National Bank. Receiver Haymond has $38,000 hand to distribute to former depositors in the Valparaiso National. It brings the total dividends paid by the closed banking house to approximately $600,000 or about 77 per cent of the deposits. The bank was closed on order of the department on Monday, Jan. 11, 1932, at the height of Valparaiso's most severe banking scare. Mr. Haymond was sent here in February, 1932, to take charge and liquidate. The first dividend came in Septemebr, 1932, the second, in March, 1933, the third in 1934. The receiver preferred and secured full. Stockholders assessed and payments are still being made it is said. First payments went to the Federal Reserve Bank, the U. postal department for postal savings deposits and Porter county. Checks for the $38,000 distribution came from the comptroller of the treasury this afternoon. Receiver Haymond complimented the federal banking officials upon their co-operation. wanted the dividend checks to arrive in time for Christmas so that the community might get the benefit." Mr. Haymond stated. "They did all they could in Washington to speed It along from their end." he added. In announcing the distribution Receiver Haymond urged all properly accredited claimants bring their receiver's certificates to the bank at once, and claim their checks.