6376. Wabash County Loan & Trust Company (Wabash, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
*
Location
Wabash, Indiana (40.798, -85.821)

Metadata

Model
gpt-5-mini
Short Digest
8a35bf46

Response Measures

None

Description

Articles (Jan 10 and Dec 27, 1935) refer to a receiver being appointed for the Wabash County Loan & Trust Company and later litigation against former directors with the State Department involved after the receiver's death. No articles describe a depositor run. This indicates a suspension/closure with a receiver (government action). Exact dates of suspension/receivership are not given in the excerpts.

Events (2)
1. * Receivership
Newspaper Excerpt
The State Department of Financial Institutions assumed prosecution of the case after the death of Q. A. Carver, receiver. The complaint charged that directors of the bank were negligent and responsible for bank losses. (Dec. 27, 1935 article).
Source
newspapers
2. * Suspension
Cause
Government Action
Cause Details
State-appointed receiver placed the bank in receivership following bank losses; directors later accused of negligence.
Newspaper Excerpt
the appointment and functioning of a receiver for the Wabash County Loan and Trust Company.
Source
newspapers

Newspaper Articles (2)
1. January 10, 1935 The Washington Times Washington, DC
Article from The Washington Times, January 10, 1935

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Article Text

Appeal Vindicates Critic of Court INDIANAPOLIS, Jan. 10 (I.N. S.).—The State supreme court has reversed the decision of the Wabash Circuit Court which held the late Don Nixon, of Wabash, veteran publisher, in contempt of court, fined him $100 and sentenced him to 10 days in jail. The reversal was regarded as a victory for freedom of the press as the charges followed stories Mr. Nixon published criticizing the appointment and functioning of a receiver for the Wabash County Loan and Trust Company.

2. December 27, 1935 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, December 27, 1935

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Article Text

# COMPROMISE IS HINTED # IN $700,000 BANK SUIT Wabash Officers Agree to Settle for $100,000, Is Report. By United Press WABASH, Ind., Dec. 27.-Settle-ment of $700,000 damage suit against former directors and officers of the Wabash County Loan and Trust Co. by compromise appeared likely today. Under terms of a compromise petition which may be filed in Wabash Circuit Court, the officers will pay $100,000 to the State Department of Financial Institutions and also a sum not to exceed $3,000 for an audit of the bank's books. The State Department of Financial Institutions assumed prosecution of the case after the death of Q. A. Carver, receiver. The complaint charged that directors of the bank were negligent and responsible for bank losses.