First State Bank (Huntington, IN)

Episode Information

Episode UID
71018971598
Episode Type
Suspension โ†’ Reopening
Bank Type
state
Bank ID
7101897 routing
Routing Number
71-0189
Start Date
February 7, 1933
Location
Huntington, Indiana (40.883, -85.497)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
192b52686faf54a0

Response Measures

None

Description

Closure was a temporary business moratorium tied to local bank failure; reopening contingent on depositor waivers.

Events (1)

1. February 7, 1933 Suspension
Cause
Local Banks
Cause Details
Closing of another Huntington bank prompted a city-wide business moratorium leading the two remaining banks to suspend operations.
Newspaper Excerpt
Now the two remaining institutions, including the First State bank, are both closed temporarily in a business moratorium. They will reopen if 80 per cent of the depositors of both banks sign a pledge not to withdraw more than a specified percentage of their deposits.
Source
newspapers

Newspaper Articles (2)

Article from The Indianapolis Times, February 7, 1933

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Article Text

AUTO IS USED AS POWER TO PRINT PAPER Electricity and Telephone Cut Off: Trouble Bunches on Huntington Man. By United Press HUNTINGTON, Ind., Feb. 7.Adversity overtook C. W. H. Bangs, editor of the Huntington News, all at once. He now is forced to publish his daily newspaper with a jacked-up automobile as his power source and without the convenience of a telephone. Facing seven charges of criminal libel and slander on the first state bank of Huntington, he is under $5,000 bond after spending an hour in jail a week ago. With his telephone and electricity disconnected because the bills were overdue, Banks connected the automobile with his press to run it. He bought oil burners to heat his linotype melting pot, and has a small electric generating plant to provide lights in his office. Attacked Bank Policies Besides that, his employes, claiming that their pay is long overdue, are causing him trouble. A former college president and attorney and a specialist in international law study, Bangs has not given up. He took over editorship of the paper about a year ago, making his law practice his avocation. Recently he began attacks on Huntington banks in his newspaper. Local residents said he owed the banks, they were pressing him for loans and he was retaliating. John R. Emly, president of the First State bank, brought charges against Bangs. Six of them alleged criminal libel and the seventh charged slander, asserting that Bangs had circulated verbally false rumors against the bank. Former College President That followed closing of another Huntington bank. Now the two remaining institutions, including the First State bank, are both closed temporarily in a business moratorium. They will reopen if 80 per cent of the depositors of both banks sign a pledge not to withdraw more than a specified percentage of their deposits. Bangs is a former president of Huntington college, a United Brethren supported institution here. Since then he practiced law. Daily he rode a bicycle, carrying his lunch, from his outlying home to his law office. He studied international law in Paris for several years. He took a small son there with him once, and when the child returned here, after two years, he could speak no English.


Article from The Indianapolis Star, February 12, 1933

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Article Text

Huntington Business Men Still Seek Bank Waivers [Special to The Indianapolis Star.] HUNTINGTON, Ind., Feb. definite date had been set today for the opening of Huntington banks, canvassers their drive depositors Business the city handicapped by the closing been established here for cashing foreign The Citizens State First State banks closed started the latter Mayor Zach Dungan and ness men sought to obtain waivers