Noble County Bank & Trust Company (Kendallville, IN)

Episode Information

Episode UID
71035371573
Episode Type
Suspension β†’ Closure
Bank Type
state
Bank ID
7103537 routing
Routing Number
71-0353
Start Date
January 11, 1931
Location
Kendallville, Indiana (41.441, -85.265)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2e9504cc5ac2c5c5

Response Measures

None

Description

Closed by directors pending audit; receiver later appointed and bank remained in liquidation/receivership.

Events (5)

1. January 11, 1931 Suspension
Cause
Voluntary Liquidation
Cause Details
Closed by order of the board of directors pending an audit/investigation; state banking department representative placed in charge.
Newspaper Excerpt
Old Noble County Bank Is Closed by Directors ... was closed here last night by order of the board of directors.
Source
newspapers
2. February 1, 1931* Receivership
Newspaper Excerpt
Death Threats to Judge and Receivership Appointee at Kendallville... Mier, Ligonier banker, has been forced to resign as receiver for the closed Noble County Bank and Trust Company of Kendallville. ... Following his resignation, Mier said...after his appointment a week ago Mier came to Kendallville to confer with a citizens committee acting for the bank, and headed by E. E. McCray, in regard to the bank's affairs, and after the meeting declared he would not take the receivership for all the money in the United States. Mier then conferred with Judge Biggs...his resignation was accepted.
Source
newspapers
3. April 23, 1931 Other
Newspaper Excerpt
Depositors in the defunct Noble County Bank and Trust company at Kendallville may receive a distribution of at least 10 per cent by January 1, it was indicated in a statement published Tuesday by Vermont Finley, receiver for the bank.
Source
newspapers
4. November 28, 1931 Other
Newspaper Excerpt
William Rinebolt and 142 other persons to-day brought suit ... against the Kendallville Trust & Savings the Noble County Bank & Trust and Vermont Finley, receiver for the Noble County Bank & Trust company.
Source
newspapers
5. May 21, 1932 Other
Newspaper Excerpt
Kendallville Bank Head Will Appeal ... Walter Gillian ... president of the defunct Noble County Bank and Trust Company, of Kendallville, yesterday ... convicted ... of banker's embezzlement.
Source
newspapers

Newspaper Articles (6)

Article from The Indianapolis Star, January 12, 1931

Click image to open full size in new tab

Article Text

Old Noble County Bank Is Closed by Directors [Special to The Indianapolis Star.] KENDALLVILLE, Ind., Jan. 11.The Noble County Bank and Trust Company, one of the oldest and largest financial institutions in northeastern Indiana, was closed here last night by order of the board of directors. representative of the state banking department in charge pending complete of books, which will require week, officials said. plans are being considered by and men to reopen reorganize the bank when the audit completed. Officials believe all depositors will be paid in full. The bank was capitalized at $175,000. with deposits of Total resources were


Article from The Topeka Journal, January 15, 1931

Click image to open full size in new tab

Article Text

*KendalIville Bank Closes With the prediction of bank officials that they felt certain every depositor would be paid in full Kenpallville began to recover from some of its surprise occasioned by the closing of the Noble county Bank and Trust Company Saturday evening. Many persons were astonished as they read the sign, Bank closed by order of the board of directors," which was posted on the door of the bank. The work or auditing the books of the bank was proceeding as rapidly as possible It was at first believed that the notice referred only to the fact that the bank would not open Saturday evening between 7 and 8 o'clock. as had been its custom, for the convenience of its patrons. Later it developed, that it was closed pending an investigation of itscondition. A representative from the state banking department arrived at the bank early Sunday morning and with the whole force of the bank assisting, the work of auditing the books began. It will require about a week to finish this work. The bank is capitalized al $175,000 with deposits of $1 489,170.84 with total resources of $2,107,840.78. The bank was organized in 1889, as a private bank, with the deceased Jacob Keller as president. Two years latter it was incorporated as a state bank. The present officers are president, Samuel Keller Jacobs, of New York City; vice. presidents, Milton K. Jacobs and Walter A. Gillian; secretary, LaurMcCartney; there may be goods; neither is more live stock the object in teaching boys and girls to raise and feed colts, calves, lambs and pigsr The purpose goes. fartner and deeper than these or even than the idea of producing a better quality more cheaply, which is very commendable. This work is aimed to, and time and time again has shown effect in produc ing healthy, intelligent, balanced minds, filled with high ideals than mere sense enjoyments. Dispositions which consider the rights of others and trained hands in mechantcal labor which will serve them well throughout life. A growing boy or girl had better work, work for food and necessary comforts alone, rather than be idle. We spoke, above, about the evidence of results reached in 4-H Club work; if any ne doubts the results, let him meet up with a bunch of these young ,men and women, whose pictures are appear ag in the papers and magazines and start talking street gossip, shop and commoness and see how far be will get. They are taught to know things and to do things and from knowing and doing they learn to reason, to organize and control. It is the person who thinks co ordinately, as he or she works, who gets the best results and who develops into the most useful man or woman President Hoover once remarked that no audience, not even cabinet, so put him upon his mettle as a bunch of bright eyed, club boys and girls And why not? boils down the subject and gives it something M. Health, A body giving the maximum amount of service with the minimum amout of pain and H, Head. A mind capable of controlled. co-erdinate, systematic H, Heart, A consideration for the rights and feelings of others and a desire to work with others. H, Hand, Trained to work at manuel labor intelligently efficientIt seems to us that the club work being done locally in LaGrange county should be all convincing; yet the county, as a whole is not organized. Mothers and fathers, we are wasting time! Let us rally to the slogan A top motch County Agent, particularly for 4-H Club Work." R. L Thompson. united in marriage to Funk of Kendallville, Ind. He is survfved by his wife, one daughter, one son; three grandchildren, two step sons, also four sisters and one brother, Sunset and the evening star, And one clear call for me! And may there be no moaning at the Bar, When I put out to sea. But such a tide as moving seem asleep, Too full for sound and Soam, When that which drew from out the boundless deep, Turns again home. Twilight and evening bell, And after that the'dark, And may there be no saddess of farewell, When I embark. For though from out our bourne of time and place, The flood may bear me far, I hope to see my pilot face to face, When I have crossed the Bar Baptist Chusch Notes Teaching Hour 9:30 a. m. Worship Hour 10:30 a. m. Evening Service at 7 o clock Your invited to all our services: 1 Noble LaGrange Counci of Baptist Young People willbe held with the Kendallville Baptist church Thursday evening, January 22, at 7:30 o'clock We want a large group to attend from here. The program is as follows: Games, Donold Kilgore and Rose Kitchen Song Service, Mr Eugene Shew Devotional, Miss Dorothy Hodge Roll Call, Stand until counted Whistling Solo, Mrs. Mergel Rimmell Business Violin Solo, Mr. c. U Kitchen Address, Rev. S. G. Huntington Refreshments o C. PERRY, Pastor. Well known music house has in this vicinity new and used pianos and player piΓ‘nos, $50. $150, $250, $350. 30 days free trial Victrolas $10, $15, $25, $50, $75. Easyterms arrΓ₯nged. Inquire at this office. ered by the stockholders for ening the institution after the audit is completed. In order to prevent a run on the State Bank of Avilla, because of the closing of the Noble County Bank and Trust Company with which it is affiilated, the former institution was not opened for business this morning. A representative of the state banking department was in charge of the institution today. Officials ot the Avilla bank said that there was no danger as to its solvency, and that the precaution of closing it was resorted to only to prevent a run because of the closing of the Kendallville institution, Narrow Escape Just after Mr. and Mrs. H. C. Parks and 2-year-old son and 6year-o d daughter arrived in Kendallville in driving home from TopeKa in a truck, Mrs. Parks noticed that the children had suddenly become quiet. At the same time the parents realized they, themselves, were becoming dizzv. They rushed to a physician's office, where oxygen was administered and artificral respiration successfully applied. Gas fumes from the truck motor had affected them. Methodist Church Notes T attendance at the services last Suuday was very good thro ghout the dav, The en are going to serve a supper for the public in the basement of the church Thursday evening, January 22 Price 35 cents. You are welcome. Mrs. Earl G:eenawalt's Sunday school class enjoyed a social evening in the church basement las Tuesday evening. League will have charge of the church service next Sunday evening. This is one of the gospel team programs. C. C. Wischmier, Pastor. NOTICE-Will close our store every evening abi6 p. m. except Will open any evening by special arrangement or telephone call at house. Greenawalt Bros,


Article from The Indianapolis Times, February 25, 1931

Click image to open full size in new tab

Article Text

RELIGION BARS ABLE BANKER COURT CHOSE Death Threats to Judge and Receivership Appointee at Kendallville. By Times Special KENDALLVILLE, Ind., Feb. 25.A situation has developed here that is a reminder of the days when the Ku-Klux Klan was rampant in Indiana. Because of his religion, Abraham B. Mier, Ligonier banker, has been forced to resign as receiver for the closed Noble County Bank and Trust Company of Kendallville. Mier and Judge A. F. Biggs of the WhitleyNoble circuit court have each received a letter, apparently written by the same person, a woman, in which death was threatened if Mier was retained as receiver. Many Sign Petitions Shortly after his appointment a week ago Mier came to Kendallville to confer with a citizens committee acting for, the bank, and headed by E. E. McCray, in regard to the bank's affairs, and after the meeting declared he would not take the receivership "for all the money in the United States." While he was here petitions were circulating containing a request that he quit, and it is said 400 signers were obtained in less than two hours. Ability Recognized Mier then conferred with Judge Biggs, stating his desire not to take the post, and his resignation was accepted. Following his resignation, Mier said: "The citizens committee of Kendallville which called on me, and those with whom I came in contact with, agreed that I was one of the outstanding bankers of northern Indiana, that I was a man of good character, and that the only reason they protested my appointment was due to my religion. I regret very much they took this attitude in the matter. However, I have no ill feeling against them despite this conviction, and ask for nothing in return. I have always had this entire community at heart and had I retained the position to which I was appointed, would have done my utmost to settle the affairs of the Noble County Bank and Trust Company to the best of my ability, and with the best interests of the depositors and creditors in mind."


Article from Garrett Clipper, April 23, 1931

Click image to open full size in new tab

Article Text

486-W. painting and papering. Elam. Miss Daisy Hampsire of South Cowen street will spend the week-end with her mother at Waterloo. Mr. and Mrs. Lowell Bowers and daughter, Joan, of South Bend. spent Sunday with City Clerk and Mrs. C. U. Bowers. Mr. and Mrs. Paul Cain and two children of Chicago. spent the weekend with Mr. and Mrs. Louis Sobasky in Altona. Mr. and Mrs. B. M. Redmond and Mr. and Mrs. J. G. Kircher of Garrett. and Mr. and Mrs. Floyd Hudson of Elkhart. spent Wednesday at the Redmond cottage on Lake Gage. Mrs. M. A. Sheets of West King street went to Toledo Sunday where she is taking a special this week at the Marshall Coloring School. A home talent play entitled "Kathleen" will be given by Girl Scouts troop No. 1 of Butler, at the high school gym in Butler Monday and Tuesday evenings. The proceeds will be used to purchase uniforms. This is the only Girl Scouts troop in DeKalb county. Mr. and Mrs. T. S. Wilcox of East Houston street and Mr. and Mrs. H. G. Wilcox of Longmont, Colo., attended the opening game of the Chicago White Sox in Chicago Wednesday. Mr. and Mrs. Victor Holtslander, who have been living at the Peter Rasmussen home on South Guilford street, moved Monday into the Collins property at 300 South Cowen street. Extra special-a 10 gallon garbage pail 98c. Littles' Hardware. A report by W. H. Ettinger, administrator of the Perry E. Derthick estate, of the sale of lot 185 in J. Hornberger's second addition to Waterloo to Richard C. and Mabel Hanes for $450 has been approved in the DeKalb circuit court. John H. Liss, who for the past four months has been employed at Cincinnati, spent the week-end with his father, George A. Liss, and family of South Johnson street. He left Monday for month's stay in Louisville. He was accompanied as far as Cincinnati by his sister, Miss Wanda Liss, and Wilbur McClure. Several members of the DeKalb county republican organization were guests of the Wednesday noon-day luncheon given by the Young Men's Republican club of Fort Wayne at the Y. M. C. A. yesterday. Herbert C. Willis of the Waterloo Press acted as chairman for the DeKalb county organization, introducing Judge Endicott of Auburn, as the principal speaker of the occasion. The judge gave a very interesting and instructive address on political lines of progress. Two fine violin solos were rendered by William Melvin. accompanied by Mrs. J. A. Engstrom at the piano. Two vocal solos were sung by Postmaster W. B. Hays, with Mrs. Engstrom as accompanist. Depositors in the defunct Noble County Bank and Trust company at Kendallville may receive a distribution of at least 10 per cent by January 1. it was indicated in a statement published Tuesday by Vermont Finley, receiver for the bank. The receiver. who said he had been pressed for an opinion on when a distribution will be made and what per cent the bank will pay eventually, declared he could make no definite announcement about a first distribution. He said that the Noble county bank's obligations to correspondent banks, amounting to 000. had been cleared by the sale of bonds. Much of the money which is to be gathered for distribution to depositors depends upon his success in disposing of bonds, he said. The bonds are being held for sale at prices higher than they can bring at present and for that reason the liquidation may progress slowly, the receiver declared. The problem of preferred claims will have to be met, he said, and what effect it will have on distributions is not known. LOCAL MARKET TWO DOUBLE BEDS WITH spring and mattress, cheap if taken at once. or trade for single. 505 East Quincy street. (55) FOR SALE-EIGHT ROOM MODern house. City steam heat. Garage. At 202 East King street. Inquire Leon Gingery. (47tff) FOR SALE - PIANO. $35 FOR quick sale. 907 South Cedar street, Auburn. after 6 p. m. (52t4) CARS WASHED: CALLED FOR and delivered. Also wallpaper cleaning done. Harold Aldridge, Phone 288-R. (54t2) MOUGHLER'S FLOWER GARDEN -Field Grown Plants-Delphiniums, Painted Daisies. Forget-Me-Nots, Coreopsis, False Dragon Heads, Old Fashion Pink. Pansy Plants, Oriental Poppies, Climbing Rose Bushes and Narcissus Blooms. Our Garden and Flower Plants will be ready for safe planting time. Our Frames and hot beds are filled up with plants. Call and see us. Phone 411 R. 504 South Walsh street. Garden is in 600 block. E. C. Moughler. (55tf) Wheat $ Yellow Corn, 100 lbs Barley, No. Rye Oats Lambs Cattle Calves Hogs Beef Hides Calf Hides Tallow Hens Hens, light Springers, heavy Light Springers Ducks, colored Ducks, white Geese Turkeys @ld Roosters Eggs


Article from The South Bend Tribune, November 29, 1931

Click image to open full size in new tab

Article Text

LAGRANGE SUIT ASKS $214,621 William Rinebolt and 142 Others Sue Bank and Receiver. By Associated Press LAGRANGE, Ind., Nov. 28.-William Rinebolt and 142 other persons to-day brought suit in the Lagrange circuit court for $214,621.66 against the Kendallville Trust & Savings the Noble County Bank & Trust and Vermont Finley, receiver for the Noble County Bank & Trust company. It was said be the largest judgment ever asked in the Lagrange court. Rinebolt and the other persons bringing the suit are holders of first mortgage real estate bond certificates which they said they bought from the Kendallville Trust & Savings company before it merged with the Noble County Bank & Trust company. The Noble County Bank & Trust company fafled the first part of 1931 and Finley was appointed receiver. To-day's suit seeks court order setting aside $214,621 66 to satisfy the holders of the certificates. The case was brought here on change of venue. ing to-day from Kalamazoo, Mich., she visited Mr. and Mrs. Harry Morehouse and family. Mr. and Mrs. Thomas Zilke were guests the latter part of the week of Mr. and Mrs. Thomas McGuiness in Marshall, Mich. Mr. and Mrs. Joseph Graham, Mr. and Mrs. George Hable and Mr. and Mrs. John Burton are spending the week-end with Mr. and Mrs. Stanley Nespo in Michigan City, Ind. Edwin Bath left Friday for Michigan State college in East Lansing, after spending Thanksgiving with his parents, Mr. and Mrs. E. R. Bath. Paul Brunk, a student in the Illinois Military academy, Abingdon, III., is leaving to-day for school after visiting his parents, Mr. and Mrs. Carl Mrs. Charles Renner and family will leave Monday for St. Joseph, Mich., to reside. Mr. Renner has for several months managed the Whitcomb hotel in St. Joseph. He was formerly manager of the Four Flags hotel. Leo Garlanger, a student in Olivet college, Olivet, Mich., spent Thanksgiving and the with his parents, Mr. and Mrs. E. E. Garlanger. Vincent Mascow and son, James, Mrs. Fred Syferlych and son, Chester, and Miss Frances Mascow, of Chicago, were guests last week of Mr. Mrs. Boulton. The Misses Meredith Mason and Bernice Luchtman, students in Ferris Institute, Big Rapids, Mich., will return to school to-day after visiting their parents in Niles. Miss Jane Hunter is returning to Western State Teachers' college, Kalamazoo, to-day after spending the week-end with her mother.


Article from Anderson Daily Bulletin, May 21, 1932

Click image to open full size in new tab

Article Text

Kendallville Bank Head Will Appeal Albion, Ind., May Attorfor Walter Gillian. dent of the defunct Noble County Bank and Trust Company, of Ken daliville, yesterday to two to fourteen years in prison upon his conviction banker's embezzle ment, said today they planned an Gillian was convicted Feb. Samuel Jacobs, president of the bank, and Milton K. Jacoba, his nephew, also face embezziement charges in connection with the bank's closing in January, 1931. Sam uel Jacobs fugitive from justice.