Central State Bank - West Lebanon, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 23, 1899
Location: West Lebanon, Indiana (40.270, -87.387)

Metadata

Model: gpt-5-mini
Short Digest: f7425687

Response Measures

None

Description

Article reports the Central State Bank of West Lebanon closed its doors Nov 23, 1899 and a receiver (Charles McAdams) was appointed. Closure is due to insolvency: capital sunk in bad investments; deposits $42,000. No run is mentioned.

Events (2)

1. November 23, 1899 Receivership

Newspaper Excerpt: Charles McAdams was appointed receiver.
Source: newspapers

2. November 23, 1899 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank had been 'doing business for some years on other people's money'; capital stock sunk in bad investments leading to insolvency.
Newspaper Excerpt: The Central State Bank of West Lebanon, Fountain county, closed its doors to-day and Charles McAdams was appointed receiver.
Source: newspapers

Newspaper Articles (1)

1. November 24, 1899 The Sun New York, NY

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Article Text

An Indiana State Bank Closes Its Doors. INDIANAPOLIS. Nov. 23.-The Central State Bank of West Lebanon. Fountain county. closed its doors to-day and Charles McAdams was appointed receiver. Mr. MeAdams said that it was evident that the bank had been doing business for some years on other people's money. as the capital stock had all been sunk in had investments. The deposits amounted to $42,000.