6361. Knox Bank & Trust Company (Vincennes, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
May 1, 1928*
Location
Vincennes, Indiana (38.677, -87.529)

Metadata

Model
gpt-5-mini
Short Digest
4abc0f7a

Response Measures

None

Description

The articles (May 15 and May 22, 1928) report the Knox Bank & Trust Co. was closed by the state banking department and a receiver (Ira D. Schaffer) was appointed. No run or depositor panic is described; the closure was by the state banking department and led to receivership and legal proceedings. Article 2 contains an OCR/typography variant Knox Harrison Bank and Trust company which appears to be an error; the correct name is Knox Bank and Trust Company as given in the prompt and article 1.

Events (2)

1. May 1, 1928* Suspension
Cause
Government Action
Cause Details
Closed by the state banking department (regulatory action following unspecified problems).
Newspaper Excerpt
temporary receiver ... for the Knox Bank and Trust company, which was closed last week by the state banking department.
Source
newspapers
2. May 15, 1928 Receivership
Newspaper Excerpt
Ira D. Schaffer ... was appointed temporary receiver here this afternoon for the Knox Bank and Trust company ... Judge William F. Calverley immediately appointed Schaffer . He was put under $1,000,000 permanent ... Deputy Attorney General James House ... said the court's action did not effect his pend- (Evansville Courier and Press, 1928-05-15). (text truncated due to OCR). (Evansville Courier and Press, 1928-05-15).
Source
newspapers

Newspaper Articles (2)

Article from Evansville Courier and Press, May 15, 1928

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Article Text

ASK PERMANENT Court Placess Schaffer in Charge of Vincennes Institution Until Monday Ira D. Schaffer. vice-president of the American National bank. was appointed temporary receiver here this afternoon for the Knox Bank and Trust company, which was closed last week by the state banking department. Appointment of Schaffer came after swift moves in the legal battle to name receiver. Two suits, one by the state bank department and another by attorneys. representing Isaac Hayes, stockholder, had been filed in separate courts. Davenport had been named special judge in the case, both sides sprang surprise by dismissing their suits and before the court adjourned, the stockholders filed new suit in superior court and Judge William F. Calverley immediately appointed Schaffer He was put under $1,000,000 permanent will be named Monday Deputy Attorney General James House, who represented the state banking department, said the court's action did not effect his pend- THERE is nothing that has ever taken the place of Bayer Aspirin as an antidote for pain. Safe, or physicians wouldn't use it, and endorse its use by others. Sure, or several million users would have turned to something else. But get real Bayer Aspirin (at any drugstore) with Bayer on the box, and the word genuine printed in


Article from The Vincennes Sun-Commercial, May 22, 1928

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Article Text

BANK RECEIVER CONTROVERSYIS BACK AT START Plea for Change of Judge Is Granted by Calverley. The Knox Harrison Bank and Trust company case was back where it practically started from today when Superior Judge W. F. Calverley granted the plea of Frederick W. Gee, of Lawrenceville, new attorney, for a special judge. Attorneys could not get together on whom to name, so Judge Calverley selected James A. Jones of Bicknell, and Chester H. Huston and Sherman Davenport as Vincennes attorneys, as the three from who the judge would be selected. Circuit Judge Coulter a week ago Friday submitted the same three names when Deputy Attorney General James M. House petitioned for change of judge. At that time, Attorney Davenport was chosen. He was the bench but few minutes, House dismissing his suit. More Legal Moves. House refiled his suit, getting it back before Judge Coulter. Shake and Kimmell, however, dismissing their first suit, refiled in Superior court and Judge Calverley immediately appointed Ira D. Schaffer temporary receiver. Yesterday, Schaffer's appointment came up for final action but action was delayed by Gee's move for new judge. Under the law, Gee has two days to decide which of the three names shall be stricken off. However, he is expected to report tomorrow. Curtis Shake, Joe Kimmell and W. M. Alsop, attorneys on the other side, will strike the second name. The attorney left will be the judge. Before Shake and Kimmell struck off Jones, House knocked off Huston. Only Attorney in Court. Gee, who is representing the bank and Tyler Andrews, president, was the only attorney on his side in court today. House was absent. Gee, petitioning an affidavit for new judge on behalf of Andrews, set out that he could not get a fair trial from Judge Calverley for two reasons; one that Judge Calverley is a creditor and depositor in the bank, and second that he has certain bias and prejudice. The affidavit was submitted yesterday. Shake, Kimmell and Alsop sought to have the judge rule first on whether a motion to let Luther F. Symons, state bank commissioner, intervene should be filed. They submitted written objections. Law Mandatory. Judge Calverley this morning said the law made it mandatory for him to grant the plea for new (Turn to Page Eight, please.)