Commercial Bank (Silver Lake, IN)

Episode Information

Episode UID
68010291253
Episode Type
Run → Suspension → Reopening
Bank Type
private
Bank ID
6801029 hash
Start Date
May 17, 1904
Location
Silver Lake, Indiana (41.072, -85.892)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d2aac18a91129097

Response Measures

None

Description

Owners stated depositors would be paid in full; reorganization as a state institution planned.

Events (3)
1. May 17, 1904 Run
Cause
Bank Specific Adverse Info
Cause Details
Steady withdrawals and inability of president to realize promptly on bank paper leading to liquidity shortage.
Measures
Owners pledged depositors would be paid in full; plans for reorganization mentioned.
Newspaper Excerpt
The Commercial Bank at Silver Lake, Ind., owned by Adam Stout & Sons, closed its doors yesterday.
Source
newspapers
2. May 17, 1904 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension due to steady withdrawal of funds and inability to realize promptly on bank paper.
Newspaper Excerpt
The Commercial Bank at Silver Lake... closed its doors yesterday.
Source
newspapers
3. * Reopening
Newspaper Excerpt
A number of farmers and business men are now being interested in the reorganization... and it will shortly resume business, with increased capital and in a stronger position than ever before.
Source
newspapers

Newspaper Articles (2)
1. May 18, 1904 Evening Star Washington, DC
Article from Evening Star, May 18, 1904

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Article Text

Macon Bank Failures Serious. A dispatch last night from Macon, Ga., says: Receiver Corbin and Bank Examiner Albertson are working on the books of the two banks which failed yesterday, but there will probably be few assets except the $800,000 life insurance carried by R. H. Plant, president of the two institutions. The other banks of the city are not affected by the failure. The Commercial Bank at Silver Lake, Ind., owned by Adam Stout & Sons, closed its doors yesterday. The owners say all depositors will be paid in full. The bank is capitalized at $7,500, and its deposits are said to exceed $25,000.

2. May 21, 1904 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, May 21, 1904

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Article Text

SILVER LAKE BANK TO BE REORGANIZED Special to the Indianapolis Journal. WABASH, Ind., May 20.-Not only will the depositors of the Commercial Bank of Silver Lake, which failed on Tuesday, receive their claims in full, but it is found that the capital stock of the bank is unimpaired, the suspension being due to the steady withdrawal of funds and the inability of Adam Stout, the president, to realize promptly on the bank paper, which is all good. A number of farmers and business men are now being interested in the reorganization of the bank as a State institution, and it will shortly resume business, with increased capital and in a stronger position than ever before. Mr. Stout probably will be re-elected president.