gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b70b0899ca5a11b2
Response Measures
None
Description
Receivers were sought quickly after closure and a receiver later administered the insolvent bank.
Events (3)
1.February 13, 1929Run
Cause
Bank Specific Adverse Info
Cause Details
A run began on the Wells County State Bank; examinations later showed the bank to be failing and insolvent and the run spread contagiously to other local banks.
Measures
State banking examiners were rushed in; bank was closed by examiner Thomas Barr.
Newspaper Excerpt
The panic started with a run on the Wells County State Bank, a $1,250,000 institution.
Source
newspapers
2.February 13, 1929Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank failed to open following the run; banking department examinations later described the bank as failing and insolvent.
Newspaper Excerpt
The Wells County State bank did not open for business today; shortly after noon the three other banks ... also closed their doors.
Source
newspapers
3.February 14, 1929Receivership
Newspaper Excerpt
Petitions filed ... asking that receivers be appointed for the Wells County State Bank of Bluffton ... petitions set out that examinations by the banking department showed the Wells County State Bank ... are 'in a failing and insolvent' condition.
Source
newspapers
Newspaper Articles (23)
1.February 13, 1929The TimesHammond, IN
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TWO MORE WELLS COUNTY BANKS CLOSE
NEWS SERVICE BLUFFTON, Ind., Feb. mad that started with the Wells County State bank, $1,250,000 institution here, caused runs on the other banks in this county that forced three other banking institutions to close their doors today. The three other Wells county banks that elosed their doors in rapid today, were: Uniondale State bank at Uniondale, 10 miles north of Bluffton. The Liberty Center State bank Liberty Center, 10 miles west of Bluffton. The Bank Petroleum, 10 miles Bluffton. afternoon only four banks left open in Wells county. were: The Union Savings and Trust Ossian State Bank. Craigville State Bank. The Poneto State Bank. The state banking department understood rushing men here to control the situation.
2.February 13, 1929The TimesHammond, IN
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TWO MORE WELLS COUNTY BANKS CLOSE
[INTERNATIONAL NEWS SERVICE] BLUFFTON, Feb. mad that started with the the Wells County bank, $1,250,000 institution here, caused runs on the other banks in this county that forced three other banking institutions close their doors today. The three other Wells county banks that closed their doors in rapid succession today, were: The Uniondale State bank at Uniondale, 10 miles north of Bluffton. The Liberty bank at Liberty Center, 10 miles of Bluffton. The Bank of Petroleum, 10 miles Bluffton. This only four banks were left open in Wells county. They were: The Union Savings and Trust company of Bluffton. The Ossian State Bank. The Craigville State Bank. The Poneto State Bank. The state banking department was understood to rushing men here to control the situation.
3.February 13, 1929The TimesHammond, IN
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RUN CLOSES SECOND BANK
BLUFFTON, Ind., -Following the closing of the Wells County bank, $1,250,000 institution here today, hours the Uniondale State $225,000 at forced that stitution close its doors. Palmer took the affairs the Uniondale bank.
4.February 13, 1929The TimesHammond, IN
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RUN CLOSES SECOND BANK
BLUFFTON, Ind., Feb. -Following the closing the Wells County bank, $1,250,000 institution here today, several hours later, the Uniondale State bank, $225,000 bank at Uniondale, ten miles west of here, forced that stitution close its doors. Palmer Ice, bank examtook charge of the affairs of
5.February 14, 1929The Indianapolis StarIndianapolis, IN
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RECEIVERS FOR BANKS
Petitions Filed Following Closing of Four Wells County Institutions.
BLUFFTON, Ind., Feb. Receivers sought for the Wells County State Bank Bluffton and the State Bank of Uniondale in petition here today. was filed by Luther The petition Symons, state bank following the closing of four Wells county banks today. petition filed in Circuit court by Mr. Symons. Two Suspend Operations. The Bank of Petroleum and the Liberty Center State Bank also suspended operations. The petitions out that examinations by the banking department showed Wells County State bank and the State Bank Uniondale are failing and insolvent condiJudge W. Hamilton set Feb. 21 the date for hearings on the petitions. The Wells County State bank did not open and shortly after noon the three other banks, which cleared through the Bluffton institution, also closed their doors.
Deposits Are $1,250,000. The Wells County bank was capitalized at $100,000 and showed deposits of $1,250,000. E. B. Williamson is president: R. S. Morrow, first vice president: Frank second president, and Fitzpatrick, cashier. bank was closed by Thomas Barr, examiner. The the Uniondale bank and deposits were $200,000. H. W. Lipkey president and Brickley cashier. The Union Savings Trust the only bank in Bluffpany The Studebaker failed 1927. with deposits of $1,500,000. Receivers yet made no payments on deposits.
NERVOUSNESS BLAMED.
Symons Says Wells County Bank Closing Result of Other's Failure. Seven representatives the state bank department were dispatched to Wells county yesterday by Luther Symons, state bank after four banks had closed their doors. Thomas bank was charge investigations being made by the deMr. Symons said the bank failures resulted from nervousness failure the Studebaker State two ago when Ralph StudeTodd, cashier, committed suicide.
Taken as Precaution. Closing the Liberty Center State bank and the State bank of Uniondale measMr. Symons Condition of these banks is definitely known Closing the Bank of Petroleum followed run the institution Tuesday, Mr. Symons said. Mr. Symons said impossible to tell whether the Wells County bank depositors will lose as result the failure. bank was in 1888. The State bank guide shows it to have surplus $60,000. The Uniondale bank, organized in 1908, shows surplus of $7,000. The Liberty Center bank was organized and surplus. Funk president.
Situation Not Reflected. Templin is president of the Bank of Petroleum, which was organized 1908 and capitalized $13,500. has surplus $7,500, the bank guide. Mr. asserted that the county lated one and not reflect the banking situation throughout state. Other members of the banking department at work the Wells county are William Dexheimer, loan and credit Palmer Yce Good, Miss Genevieve Brown and Mrs. Griff Taylor. stenographers. Mr. Symons said that the three smaller banks had tions the Wells County bank at He added that hopeful that the Wells County bank might reorganized. Powerful financial interests have been interested for some time in the Wells county situation and aid may be extended. he said.
6.February 14, 1929Leader-TribuneMarion, IN
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Have Asked for Receiver lowing the closing of four wells county banks today Luther F. Sy mons, state bank commissioner, ap peared in circuit court here this afternoon with two petitions asking that receivers be appointed for the Wells County State Bank, of Bluff ton, and the State Bank of Union dale, two of the institutions that closed The Bank of Petroleum and the Liberty Center State Bank also suspended operations. The petitions set out that exby the banking depart ment showed the Wells County State Bank and the State Bank of Uniondale are "in failing and insolvent Judge A. W. Hamilton set Feb 21 as the dathe for hearing on the petitions. The Wells County State Bank did not open for business today, and shortly after non the three other banks, which cleared through the Bluffton institution, also closed their doors. The Wells County Bank was capitalized at $100,000 and showed deposits of $1,250,000 E. B. Williamson is president R. S. Morrow, first vice-president: Frank Waugh, second vice president, and R. N. Fitzpatrick cashier. The bank was closed by Thomas Barr, examiner The capitalization of the Uniondale Bank was $25,000 and deposits were $200,000. H. W. Lipkey is president and W. A. Brickley cashier. The Union Savings and Trust Company now is the only bank in failed in 1927. deposits of $1,500,000. Receivers as yet have made no payments on deposits.
7.February 14, 1929The Washington TimesWashington, DC
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4 Banks In Indiana Are Closed by Runs BLUFFTON, Ind., Feb. 14 (U.S.). Frenzied depositors yesterday closed four banks in Wells county. The State Banking Department was reported to have rushed men here to control the situation and save the four remaining institutions. The panic started with a run on the Wells County State Bank. a $1,250.000 institution. when the doors : were opened this morning. This brought runs on three other banks and closed 11" all four.
8.February 14, 1929The Star PressMuncie, IN
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BANKS CLOSED
Receivers Are Asked Two Institutions.
Bluffton, Ind., Feb. 13 closing four Wells County Luther Symons, state bank appeared in Cirhere this afternoon with asking that receivers be appointed for the County State of Bluffton, and the State Bank Uniondale, two of the institutions closed. Bank Petroleum and the Liberty Center State Bank Hearing on Petitions Feb. 21. The petitions out that examinadepartment the Wells County State Bank State failing and condiJudge Hamilton set February the date for hearing on the The Wells County State Bank did open today. and shortnoon three other cleared through the Bluffton institution, also closed their doors. Bluffton Left With One Bank. Wells County Bank was $100,000 and showed Williamson Morrow, first vicepresident; Frank Waugh, second and Fitzpatrick, cashier. bank closed by examiner. The the Uniondale Lipkey president The and Trust ComBluffton. Studebaker Bank failed in 1927, deposits made payments on
Bank May Be Reopened Soon. The Liberty Center State Bank closed doors about noon with consent Deputy State Bank Commissioner Barr. and hopes reopen for busiwithin few days. This bank to wholly solvent and closing give public citement time allay fears about Center started on the bank that reached close the bank temporarily consent given by department. Hope Pay Dollar for Dollar. The Wells Bank, closing of which started the and run closed three other banks has expressed hope that depositors will fully 100 cents dollar. Waugh stated Continued Second Page.
9.February 14, 1929Vidette-Messenger of Porter CountyValparaiso, IN
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BANK PANIC IS SPREADING TO BLACKFORD co.
(Continued from better take The bank doesn't one cent and solvent.' Barr explained that while the state banking department didn't close the Union Savings Trust company, once was closed by its board of directors, "we had step
Meanwhile the residenta of Ponecommunity of about permiles south of Bluffton today were pledged to back their only the State Bank of Poneto, the present crisis. The bank was said to have withstood yesterday's run but after the close the day's business Cashier Mussellman called community mass meeting which held at the auditorium the Poneto grade school last night. More than 125 citizens attended. Mussellman made stirring plea for support of the bank and every one present prom!sed to get behind the bank. While excited citizens were discussing the closing of the last Bluffton bank today, the state banking examiners here force, were following procedure in taking charge of the closed institutions Applications were filled with Circuit Judge Hamilton here for receivers for the Wells County State Bank of Bluffton and for the Uniondale State Bank Judge set February 21st as the date for the hearing: An application also was filed the circuit court by officials of the bank of Petroleum, which vate bank, for the appointment of trustee to liquidate the bank's affairs. The Liberty Center Bank Liberty Center was declared fully solvent by Barr, having received his permission close to avoid the frenzy the depositors. Barr, however, characterized the situation in Wells county today situation the result of local conditions the like of which don't know of anywhere else," Barr He expressed the hope that the worst was over. Officials of the two banks which receivers were asked said this morning that the applications were "precautionary measures" which might later be withdrawn. Cashier Tangeman of the Union Savings Trust company said that the bank would oppose the appointment of receiver but
10.February 14, 1929The Huntington PressHuntington, IN
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BANKS CLOSED IN WELLS COUNTY
BLUFFTON, Ind., Feb. four Wells Following the closing county banks today Luther F. Symons, state bank appeared circuit court here this afternoon with two peittions asking that receivers appointed for the Wells County State of Bluffton, and the State Bank Uniondale, two of the institutions that closed. The Bank of and the Liberty Center State bank also suspended operations. The petitions out that examinations the banking department showed the Wells County State bank and the State Bank of Uniondale are "in failing and incolvent condition. resudge W. Hamilton set Feb. 21 the date for hearings the petiWells County State bank did not for business shortly the three other banks, which cleared through the Bluffton institution, closed their doors. Wells County bank was capital$100,000 showed deposits $1,250,000 E. B. Williamson is presR. S. Morrow first Frank Waugh, second and R. N. Fitspatrick cashier. The bank was closed by Thomas Barr, excapitalization of the Uniondale bank was $25,000 deposits were $200,000. H.W. Dipkey is president and W. Brickley caishier. The Union Savings and Trust Company now is in Bluffton. The Studebaker bank in 1927, with deposits of $1,500,000. Receivers have made no payments on de-
11.February 14, 1929The Times-MailBedford, IN
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RETURN EPIDEMIC Soon to be Arraigned in Circuit Court
Grand Larceny Charge
Sheriff Tyree arrived home this morning over the Monon on train from Detroit, having in custody William Covey who wanted here on charge of grand larceny. Covey was arrested in Detroit Monday on Lawrence county warrant and Sheriff ree left to after him Tuesday ternoon. will probably be arraignbefore Judge James Cox in the Lawrence circuit court late today Covey is alleged to be member of the quartet which entered and robbed Homer George Store at Peerless October Lawrence Hillenburg and Glenn Kinder, two of the members of the robber gang now serving penfarm sentences inflicted by Judge Cox after they pleaded guilty grand larceny charges during the Determ the Lawrence circuit court and Orlando Cazee, the fourth given an indeterminate reformatory sentence of from to 10 morning when he pleaded guilty to grand larceny charge. Cazee was arrested by local police early Tuesday morning while hiding in the home of here. Both Cazee and Covhad been fugitives from justice for three months.
STATE BANKING CIRCLES AS SEVEN INSTITUTIONS CLOSE DOORS DAY
OFFICIALS
Declare Panics Were Without Justification and Attempt to Halt Mad Rushes
INDIANAPOLIS, Ind., Feb. An epidemic of bank crashes which reached total of seven in the last hours, today rocked Indiana banking circles. Six of the bank suspensions were due to mad panic that started at Bluffton in Wells county. The seventh bank closing was blamed on an leged $100,000 deflation by cashier.
With the mad frenzy spreading from Wells county to adjoining ties, every possible effort was made by state banking officials and by the bankers in the affected districts allay the public fear. Community mass meetings were beresorted to in some towns to list citizens to help their banks weather the crisis. "Everybody seems to have lost his sense of proportion," Thomas Barr, assistant state banking commissionwho was hurried to Bluffton in person, declared upon arriving there and looking over the situation. runs on most of the banks have been without Barr refused to comment on the possible further spread of the panic that has paralyzed business in Wells county. Virtually the entire force of the state banking department musterinto the field today to help endangered banks to stem the frenzy that has been spreading from Bluffton all directions. Meanwhile all business lay paralyzin Wells county. The banks still operating were demanding 30 and day notices on withdrawals. The panic at Bluffton had its confidence banking institutions resulting from heavy losses incurred in the $1,400,000 failure there on March 1927, of the Studebaker state bank, one of the oldest banks in Indiana. Ralph Etudebaker Todd, 45, president of this bank, shot and killed himself after the bank was closed. A run on the Wells county state bank Bluffton forced that bank which had deposits of $1,250,000 suspend yesterday morning. This was followed by runs on the Union Savings & Trust Company at Bluffton and on other banks in the counBefore the day was four other banks had shut down, one, the Poneto State Bank, closing for only half day and reopening this morning.
When the Union Savings & Trust Company of Bluffton failed to open its doors today, the panic spread from Wells county to Blackford county and forced the farmers deposit bank Montpelier close. Meanwhile the board of directors of the Citizens National Bank at Bartholomew county, ordered the bank closed today after Utt, federal bank examiner found an leged $100,000 shortage in the counts of Cashier Stewart. The seven banks closed in Indiana since yesterday morning and their deposits follow: Well County State Bank of Bluffton, $1,250,000. Union Savings Trust Company Bluffton, $400,000. Uniondale State Bank of Uniondale, $230,000. Liberty Center State Bank of Center, Bank of Petroleum at Petroleum, $155,000. Farmers Deposit Bank of Montpelfier, $610,000. Citizens National Bank of Hope, $400,000.
INDIANAPOLIS, Ind., Feb. In commenting today upon the closing of seven Indiana banks since yesterday morning with total deposits of Luther Symmons, state banking commissioner, said: general banking situation Indiana is hopleful and should not be affected by local conditions in Wells county."
12.February 14, 1929The Monticello JournalMonticello, IN
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FOUR INDIANA BANKS ARE CLOSED
Wells County is Hard Hit-Asks That Receivers Be Appointed.
BLUFFTON, February 14-Following the closing of four Wells county banks yesterday Luther F. Symons, state bank commissioner, appeared in circuit court here yesterday afternoon with two petitions asking that receivers be appointed inations by the banking department sh wed the Wells County State bank and the State bank of Uniondale, are "in a failing and insolThe petitions set out that examfor the Wells County State Bank, of Bluffton, and the State Bank, of Uniondale, two of the institutions that closed. The Bank of Petroleum and the Liberty Center State bank also suspended operations. Judge A. W. Hamilton set February 21 as the date for hearings on the petitions. The Wells County State bank did not open for business today and shortly after noon the three other banks, which cleared through the Bluffton institution, also closed their doors. The Wells County bank was capitalized at $100.000 and showed deposits of $1,250,000. E. B. Williamson is president: R. S. Morrow, first vice president: Frank C. Waugh. second vice president, and R. N. Fitzpatrick, cashier. The bank was closed by Thomas Barr. examiner. The capitalization of the Uniondale bank was $25,000 and deposits were $200,000. H. W. Lipkey is president and W. A. Brickley, cashier. The Union Savings & Trust com- pany now is the only bank in Bluffton. The Studebaker bank failed in 1927, with deposits of $1,500,000. Receivers as yet have made no payments on deposits.
13.February 14, 1929Anderson Daily BulletinAnderson, IN
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BLUFFTONBANK CLOSES TODAY
UNION SAVINGS AND COMPANY CLOSES FOLLOWING $50,000 RUN
Montpelier Bank Also Is Closed
FOUR BANKS IN WELLS COUNTY SHUT THEIR DOORS YESTERDAY
Depositors In Banks Of Wells And Blackford Counties Become Alarmed Over Failures And Withdraw Funds
Bluffton, Ind., Union Savings and Trust Company. the only remaining bank in Bluffton. closed its doors this morning after $50,000 run yesterday. The Farmers Deposit Bank Montpeller, on the county line, also closed this morning. due, was said, to an $18,000 run yesterday. Four banks in Wells county closed yesterday Fred Tangeman, president of the and Trust and Thomas Barr, state bank examsaid closing was due to the run on the bank and that en tirely solvent. Officers and direct ors said they expected to take advantage of the sixty days permitted by effect and then hoped reopen. The Union Savings Trust deposits of approximately $800,000. STARTED YESTERDAY
Yesterday the Wells County Bank. with deposits $1,250,000. clos few hours later. the State Bank closed Petitions the circuit court asking for for both institutions. alleging they failcondition. The Bank of Petroleum Liberty Center State Bank also closThe three smaller banks cleared through the Bank Guy Bracken president of the Farmers Deposit Bank Montpeller had deposits of approximately $500,000 The state banks Poneto and Craigville and Farmers State Bank Ossian, other banks the ville State Bank and the Markle State Bank, on the county line, also
14.February 14, 1929The Anderson HeraldAnderson, IN
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State Official Asks Court To Appoint Two Receivers.
BLUFFTON, Feb. 13. Following the closing of four county banks today Luther mons, state bank peared circuit court here this afternoon two petitions asking receivers appointed for the County state bank, Bluff the Bank Uniontwo of the institutions that clos The bank Petroleum and the Liberty Center State bank also sus pended operations. The petitions out that examinations by the banking showed the county state bank and the state bank Uniondale failing and insolvent Judge Hamilton February the date for hearings the petitions. Closing is The Wells county state bank did open for business today, and shortly after noon the three other banks, which cleared through the Bluffton institution, also closed their doors. The Wells county bank was talized $100,000 and showed posits $1,250,000. president: Morrow, first Frank ond and patrick, cashier. The bank closed Thomas Barr, examiner The the Uniondale bank $25,000 and deposits $200,000. H. president and W. Brickley cash-
The Union Savings and Trust Company the only bank BluffThe Studebaker failed In deposits of $1,500,000. Receivers made no payments deposits.
BANK RUN
Closing
In Indiana Within 24 Hours After First Collapse.
Cashier Of Hope Institution Held For Federal ment Confessed
THE Ind., February Union Savings Trust Company, remaining operating Bluffton Wells County Bank closed its doors yesterday. was closed today. reported many deposi tors withdrew money from the bank
The Farmers Deposit Bank the Blackford county line. closed today. said, yesterday. The bank has deat Guy Bracken, the said closed protect depositors and the bank solvent. Luther Symon, State Comand State Banking are in Wells County going records the Wells County Bank, 'three other banks the county which closed following action Wells County Bank, through which Other banks the county that are closed State Bank of Petroleum, the Bank and the erty Center Bank.
Receivers
Symon petitions the Wells Circuit Court that ceivers appointed for Wells County Both petitions set that conducted Banking these institutions failing and condition. the banking situation largely the result that followed the closing here Studeposits $1,500,000 That bank and far distribuon common have
DISPATCH THE Ind., February Herman Cashier National Bank, Ind., closed this was Federal Howard Young, United States sioner, request Bert Patterson, Bank Stewart had admitted having nipulated the shortage. arrested in an office the Merchants National Building taken where he hearing and was held by Hope, and former President the bank Arranged To
Details the which accomplished not his Mely United Marshal told him that has money. over make the shortage Luther Symons, State Commissioner, statement today which said the stability the should affected closing The the Banking banking situation Wells has by agithe failure of the Studebaker Bank two Unfounded culated have public confidence that locality. opinion that most, out present difficulty the the by the conditions Wells County.'
16.February 15, 1929Muncie Evening PressMuncie, IN
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TAKE ACTION TO RETAIN BANK
Bluffton Citizens Pledge Support.
BLUFFTON, Ind., Feb. 15-Business men of Bluffton, working through various civic organizations Friday afternoon went on record as guaranteeing that if the Union Savings and Trust Company is reopened they will not withdraw funds other than that needed in business. At 7:30 p. m. Friday a mass meeting of residents of the county will be held at the community building. The Business men of Bluffton will again ask the support of all citizens. It is a move designed to persuade a majority of the trust company depositors to give assurance that no run will be started if it is opened and one intended to restore the confidence of the public in the bank. Financial Panic. The closing here of both the Wells County Bank and the Union Savings and Trust Company, the combined deposits of which were almost $2,000,000. has caused a financial panic in the county. Business men are taking every step possible to provide themselves with funds to carry on their business. Much bitterness was expressed Thursday over action of several persons, who had been issued checks by business firms. These firms had vainly sought to supply themselves with the cash to meet these checks. But the persons to whom they were drawn, without notifying the firms issuing them, went to a notary public and had notices of protest issued on which will be additional fees.
Situation Better. With announcement of the mass meeting Friday and provided nothing further occurs to disrupt the morale of the citizens it is believed the situation is becoming more calm. Observers say that if a bank can be opened here the conditions will change rapidly. A loss of confidence in banks. brought on largely by the failure here in 1927 of the Studabaker Bank with deposits of more than $1,500,000, together with subsequent action in the bank receivership which has not made payments on common claims, is believed to be the cause of the financial situation. Thomas Barr, state bank examiner who together with his assistants, are working on the books and records of the Wells County Bank. said last night he had not completed his work and could make no comment. The effort of the community is centered on plans to_put the Union Savings and Trust Company in operation.
17.February 15, 1929The HustlerMadisonville, KY
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BANKS CRASH AFTER RUNS TAKE FUNDS
BLUFFTON, Ind., Feb. Union Savings Trust Company, only remaining bank in Bluffton, closed morning after $500,000 run yesterday. The Farmers Deposit Bank of Montpelier also closed today, due, was said here, to a $500,000 run yesterday. Four banks in Wells county closed yesterday. President Fred Tangeman, of the Union Savings Trust Company, said his bank was solvent, and he hoped to reopen the institution after the usual sixty days for reorganization.
Following the closing of four Wells county banks yesterday, Luther Symons, state bank commissioner, appeared in circuit court with petitions asking that receivers be appointed for the Wells County State bank, of Bluffton, and the Bank Uniondale, two of the that closed. bank of Petroleum and the Liberty State bank also suspended operations. The petitions set out that examinations by the banking department showed the Well County State bank Uniondale failing and insolvent condition." Judge Hamilton set February the date for hearings the petitions. The Wells County bank was capitalized at $100,000 and showdeposits of $1,250,000. The Union Savings Trust company the only bank in Bluffton. The Studebaker bank failed in 1927, with deposits of Receivers as yet have made no payments on deposits.
18.February 16, 1929The Indianapolis TimesIndianapolis, IN
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CLOSED BANKS PLAN TO OPEN Wells County Crisis May Be Eased Next Week. By Times Special BLUFFTON, Ind., Feb. 16.-Wells county's banking crisis may be eased early next week when the Union Savings and Trust Company is expected to open its doors. Five financial institutions in the county closed- during the week. A mass meeting at which all parts of the county was represented was held here Friday night, several speakers expressing confidence that the situation could be relieved. There were indications that the panicky feeling which caused runs is subsiding. The Wells County State bank here was the first to close. Three other banks, which used the local institution for clearing purposes, ceased business the following day. Then the Union Trust and Savings closed as a precautionary measure, after a run had started. The three others closed were at Liberty Center, Petroleum and Uniondale. At the meeting there were indications that the Liberty Center and Uniondale banks also would re-open next week. Liquidation was reported in progress at Petroleum. The audit of the Wells County State bank has not been completed and there is no information available at this time on its condition.
19.February 16, 1929The Star PressMuncie, IN
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BLUFFTON
Prospects Brighter for Two Others.
Bluffton. Ind., Feb. 15 The Union Savings Trust company, which closed doors here temporarily Thursday morning. with the consent of the state banking department, for the purpose of giving the depositors opportunity recover from panicky state of mind. that threatened to continue an unnecessary and unwarranted run on the bank, today announced plans reopen banking institution next Monday This reopening was provisional proper restored fidence expressed citizens Bluffton Mass Meeting Held.
For the purpose having the banking explained fully and opportunity pubexpress attitude the financial crisis Wells County suspension of business since meeting was here The the public favorable the pany but stand back of other banks ready proceed with the regular depositors that there will no runs from such banks and withdrawals limited to the needs the general of business. The auditorium jammed, the publicity given newspapers personal extended today from city having brought citizens from every section of the county.
Other Banks May Open. With the perfectly condition the Company plained there confidence the which seemed that this bank will able to reopen for The Liberty Center State bank another that the banking partment permitted close few days to give the situation time calmed down and which expected resume business soon, possibly the first of the week Uniondale bank is another which may able restoration public confidence Petroleum bank reported going forward with plans for liquidaThe audit of the Wells County bank, this city, first close, had not been completed today and no statement or plans for the regarding
20.March 9, 1929The Star PressMuncie, IN
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BANK RECEIVER SPURS ACTION
Bluffton Committee Calls Mass Meetings.
Bluffton. Ind., March 8.-An informal meeting was held today by number of the stockholders and depositors. This committee in turn called for two mass meetings of citizens Saturday. one at o'clock and another at 7:30 p. m. The purpose is to devise and adopt plans as to further procedure. It was stated by one of those in attendance that the universal sentiment expressed at the meeting was that the receivership already inaugurated should be avoided if possi-
The committee of seven citizens is composed of County Agent M. S. Smith. H. Painter, D. Lamm. John Fiechter, Frank Mosure. Dr. C. E. Caylor and J. L. Goodin with Jesse Williamson alternate to serve in the absence of any other member The Wells County stockholders expressed disapproval of the appointment yesterday of M. E. Stults as receiver and an official stated they had hoped for the appointment of Jesse Williamson
New Bank Opens Saturday. Announcement was authorized here today that the First Commercial Bank will be opened for business in the old Wells County Bank building at o'clock Saturday morning. This is new institution and will be opened under a state charter granted recently. It is capitalized at $100,000, with surplus of $50,000 It was announced today that Raymond Fitzpatrick, of this city will be assistant cashier He formerly was employed with the Wells County Bank The First National Bank of Fort Wayne subscribed for one-half of the stock when the bank was organized recently and President Niezer subscribed for fifty shares personally No was allthorized today as to additional employees.
Dr. Ritt Heads Elks.
The Bluffton lodge of Elks last night elected new officers for the ensuing term. as follows: Dr. Paul Ritt. exalted ruler Wendell Smith esteemed leading knight Jack Lamson. esteemed lecturing knight: Walter Marquart. esteemed loyal knight: Fred Kain. secretary: H. R. Swisher, treasurer and Floyd Robenold. tyler Fred Ardner alternate to the grand lodge Chicken Theft Reported.
Peter Neuenschwander, a farmer living east of Bluffton, reported today to local officers the theft of twentyfive chickens from poultry house on his farm. The theft was discovered this morning The thief or thieves had broken a lock on the door to the
Bluffton Short Notes. Friends here have received word that John M. French, a former principal of the Bluffton High School, has accepted call to the principalship of the LaPorte High School. He has been principal of the Martinsville High School since leaving Bluffton. a few years ago. Friends here received a message informing them of the sudden death this morning at Pleasant City, Ohio, of William A. Burris, a former local grocery clerk. Funeral services will be held there Sunday Several from this city will attend Mr. Burris was member of the Bluffton Odd Fellows Lodge. spark from a locomotive set fire this afternoon to grass on the farm of H. Burdge. two miles north of Bluffton Bluffton firemen were called and assisted railway section crews in fighting the flames. City firemen were called last night to extinguish roof fire at the residence of Emanual Lyddy. The damage was nominal. Roger Mayer. small son of Mr and Mrs. Roy Maver living just north of Bluffton. is suffering from flesh wound in his forehead. inflicted by an air rifle in the hands of a playmate. Craven Emshwiller today won the oratorical contest in field of five competitors for the honor of representing the Bluffton High School in the county contest. Miss Edwinna Patton second place
21.June 20, 1929Muncie Evening PressMuncie, IN
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COUNTY BOARD IN A REVIEW
Auditor Issues Summons for Hearing.
BLUFFTON, Ind., June county board of review convening in a 30 day session to review personal property assessments believes about $350,000 will be added to tax duplicates through failure of the Wells County Bank. Receiver for the Wells County Bank filed assignments of mortgages amounting to $350,000 with the county recorder. The mortgages in the bank are assigned to various individuals in the county. A glance then through the tax duplicates showed few mortgages were given to assessors for taxation. The board of review found definite course to follow. The recorder had the names of those to whom the bank assigned mortgages Inquiry these persons had purchased the mortgages, receiving receipts from the bank, which held the mortgage and collected seven per cent interest. The bank returned five per cent to the owner of mortgage and kept two per cent for service. Working Double. In some instances was found placed $1,000 mortgages their homes to secure the mortgage tax exemption, and then used the money to buy back their own mortgage, receiving five per cent interest on from the bank. The board of has instructed Auditor Paul Scott, secretary of the board. to issue summons to all those who failed to declare their mortgages for taxation. ordering them to appear next week for hearing If collection is made on all of the mortgages listed, it will total $14,000 additional funds, for the county treasurer.
22.November 11, 1929The Star PressMuncie, IN
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BANK RECEIVER FILES PETITION
Common Claims at pelier Total
Bluffton, Ind., Nov. Kunkel, Jr., for the Farmers' Deposit Bank of Montpelier, has certified to Judge W. Hamilton, of the Wells Circuit Court, common claims classified by the receiver in the sum of $311,288 with petition that they be allowed as common claims. petition was granted and claims ordered listed classified. The court also allowed certified by the receiver, the sum and group of small preferred claims allowed in the sum $461. An additional claimants asking preference has been filed, but the total given. These claims have not been passed the receiver will be tried before the court. Due the necessity of first trying the claims, said unlikely that there will distribution until after the first of the year.
Common Claims at Bluffton. Judge W. Hamilton has made ruling in Circuit Court here on point class claims against the Wells County Bank This in where claimants bought from the bank to its of with anty from the bank the of the notes. has that number of such notes are virtually worthless if not entirely as far collections The court denied claim classificaof such note but granted the claims In the event claimants accept the standing of common claimants, the notes are to surrendered the receiver, to become assets of the trust. Phanuel McIntire was allowed claim this character in the sum of $4,215: Smuts $1,024, and Ezra Levenson $4,212. Bluffton Short Notes. Armistice Day will observed here Monday, without public program. The American Legion and Legion Auxiliary have appropriate observance at hall evening. Relatives have received word of the death Greenfield James H. Moulden, the father of Mrs. Agnes Todd, formerly of Bluffton, widow of
23.March 26, 1933The Star PressMuncie, IN
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BLUFFTON BANK RECEIVER QUITS
Meyers Will Replace Stults.
Bluffton, Ind., March Decker, of the Wells Circuit Court, this morning and cepted the resignation of Marris Stults as receiver for the defunct Wells County Bank, which filed by final report of the retiring after had accepted the resignation of Stults, announcement was made Judge Decker Frank Meyers, city, Stults. Bond Meyers placed $15,000. Meyers already was ceiver for the State Bank, and by offices working staffs of the two expenses operating each will curtailed. Served Four Years. Stults had served receiver of the County bank since March 1929, and in that time the bulk receipts could realized have been Distributions have been made to deposifor total of 32½ per cent their deposits, the last distribution per cent. totaling having authorized this week. Stults showed his final report assets to be turned over to his sucCash on hand, cash reserved of possible judgments appealed; loans discounts. $324,013; real estate and appraised inventory. $37,026: and overdraft, grand total of assets turned $449,813.29. Divide Into Four Wards.
Members of the city council held meeting this for the purof taking action divide the city into four city wards, under the provisions act of the 1933 legislature. Heretofore the city has had only three wards. Barnard. Greenfield, who became here weeks after came here to Inspect the local Masonic was be taken to his home today. While patient in the here an He nicely Miss Lela Walser: South Main street. suffered torn in when she on an icy and fell her home.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
