Peoples State Bank (Crown Point, IN)

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PAYROLL NOT AFFECTED

[SPECIAL TO THE TIMES) CROWN POINT, Dec. The usual December payroll for county employes affected by the closing of Peoples State bank, of Crown Point, yesterday, the office of County Auditor William today. had feared in quartthat the county be the payroll the of this month because the 000 county funds which were on deposit the closed bank. The auditor's office put this fear at rest the deposit in other banks of Lake on county to the 31 payroll. Checks for this payroll will signed by the county week.

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DEC. PAYROLL NOT AFFECTED

[SPECIAL TO THE TIMES) CROWN POINT, Ind., Dec. The usual December employes be the closing of the Peoples State bank, Crown the office of County William today. had feared in quartthat county not be payroll the last day of this month because of the $294,000 in funds which were on deposit the closed bank. The auditor's office put this fear at rest with the that the county sufficient money on deposit in other banks Lake county to the December payChecks for this payroll will be signed county

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PAYROLL NOT AFFECTED

[SPECIAL TO THE TIMES) CROWN Ind., Dec. December payroll for The employes the closing of the Peoples State by the County William today. had feared some quartthat county would not be the the this month the $294,of in county funds which were closed bank. The auditor's office put this fear at rest with the that has in other banks of Lake on deposit to the December paycounty for this payroll will be Checks signed by the county commissioners

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DEC. PAYROLL NOT AFFECTED

[SPECIAL TO THE TIMES) CROWN usual December payroll for not by the closing of the Peoples bank, Crown yesterday, the office of County Auditor William today. It had feared quartthat the not be ers county meet the payroll the last day of this month of the county funds were on deposit closed office put this fear The auditor's with the that at rest deposit in banks of Lake on county to the December 31 payChecks this payroll will be for signed week.

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INDICTED BANKER GIVES BOND TODAY

Steeb Bondsmen Include Former Secretary of the State, Otto G. Fifield

[SPECIAL TO THE TIMES] CROWN POINT, Ind., Jan. 27.—Five men and two women, some of them prominent in the political life of Lake county, this morning signed the $25,000 release bond for Jacob Steeb, president of the closed Peoples State bank, of Crown Point.

Mr. Steeb was indicted by the Lake criminal grand jury yesterday afternoon on charges of embezzling bonds valued at $82,000. The bonds belonged to Mrs. G. D. Clark, wealthy Crown Point widow. After purchasing them, she left them in Mr. Steeb's care and he filed them as assets of the bank.

The bondsmen who appeared in the Lake criminal court this morning to file schedules for Steeb's release, are:

County Auditor William Whitaker and his wife, Farrol; former Secretary of State Otto G. Fifield, of

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INDICTED BANKER GIVES BOND TODAY

Steeb Bondsmen Include Former Secretary of the State, Otto G. Fifield

[SPECIAL TO THE TIMES] CROWN POINT, Ind., Jan. 27.—Five men and two women, some of them prominent in the political life of Lake county, this morning signed the $25,000 release bond for Jacob Steeb, president of the closed Peoples State bank, of Crown Point.

Mr. Steeb was indicted by the Lake criminal grand jury yesterday afternoon on charges of embezzling bonds valued at $82,000. The bonds belonged to Mrs. G. D. Clark, wealthy Crown Point widow. After purchasing them, she left them in Mr. Steeb's care and he filed them as assets of the bank.

The bondsmen who appeared in the Lake criminal court this morning to file schedules for Steeb's release, are:

County Auditor William Whitaker and his wife, Farrol; former Secretary of State Otto G. Fifield, of

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KERR GOT CONTRACT LAST YEAR

[SPECIAL TO THE TIMES] CROWN POINT, Ind., March 16.—Milton E. Kerr, cashier of the defunct Peoples State Bank, of Crown Point, received the contract last year for furnishing tax ownership books to collection agents throughout the country.

It was stated in The Times last night that Dan Kreitzman, chief deputy under former County Treasurer Hazel K. Groves, had furnished these books last year.

Mr. Kreitzman furnished the books prior to 1931, but when the fee system was eliminated last year, the county commissioners awarded the 1931 contract to Mr. Kerr at a salary of $2,750.

The grand jury went into session this morning, presumably with the intention of investigating the preparation of these books. The prosecutor's office stated, however, that neither Mr. Groves nor Mr. Kreitzman is under investigation. The attache refused to say whether or not Mr. Kerr is under investigation.

Mr. Kerr received a subpoena to appear before the jurors. Four former employes of the office also were subpoenaed. They are Mrs. Clara McCarthy, Miss Ruth Barr, Miss Violet Hanniford and Miss Marcella Wehner.

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REPORT OF RECEIVER IS MADE

Condition in Detail of the Peoples State Bank at Time of Closing

[SPECIAL TO THE TIMES] CROWN POINT, Ind., June 21.—A detailed report of the condition of the Peoples State bank of Crown Point at the time of its closing, Dec. 22, 1931, and the present status of the defunct banking institution has been made by the receiver, Edward J. Eder, to Judge E. Miles Norton this week. The bank examiner's report shows:

RESOURCES—Dec. 21, 1931 Loans and discounts $746,848.58 Stocks and bonds 64,142.47 Banking house 60,000.00 Other real estate 17,198.21 Real estate coupons 4,128.25 Continental Ill. Bank & Trust Co. 191.03 Indiana National Bank, Indianapolis 247.27 First National bank, Gary 53.38 First National bank, Joliet 142.32 J. F. Wild & Co., Indianapolis 6,197.60 Interest paid 18,237.66 Expense 16,686.09 Cash 19,884.85

Total $953,958.01

LIABILITIES—Dec. 21, 1931 Capital $ 60,000.00 Surplus 40,000.00 Undivided profits 4,964.29 Individual deposits 462,512.29 Savings deposits 243,949.17 Certificate of deposit 69,554.24 First mtg. real est. bond. 1,000.00

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ATTORNEYS DRAFT PLAN FOR HAMMOND

Chamber of Commerce Head to Accompany Delegation to South Bend

Timothy P. Galvin, president of the Hammond Chamber of Commerce, is arranging today to accompany a committee of attorneys to South Bend Monday to study South Bend's bank aid plan in detail so that they may draft a similar plan for introduction in Hammond.

The attorneys will represent local bank receivers and among them will be included some of the chief legal talent of the city. They are going at the request of Mayor Charles O. Schonert who is determined to introduce the plan here.

After they have studied South

FRANK B. PATTEE APOLOGIZES FOR STATEMENT

[SPECIAL TO THE TIMES] CROWN POINT, Ind., June 24.—Charges of "brigandage" were hurled from two angles this morning in the circuit court when Frank B. Pattee, attorney filed a motion to dissolve the restraining order which has been keeping stockholders of the People's State banks from opening their safe deposit boxes since the bank closed last December 22.

Judge E. Miles Norton had entered the restraining order with the admonition that stockholders be denied access until they had settled the 100 per cent stock assessment which was levied.

Pattee, who has been representing a number of stockholders in the bank receivership, appeared today for John H. Letz, a director and stockholder. A. E. Letsinger, attorney for the receiver argued for retention of the restraining order and asked that it be continued until July 1st.

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ATTORNEYS DRAFT PLAN FOR HAMMOND

Chamber of Commerce Head to Accompany Delegation to South Bend

Timothy P. Galvin, president of the Hammond Chamber of Commerce, is arranging today to accompany a committee of attorneys to South Bend Monday to study South Bend's bank aid plan in detail so that they may draft a similar plan for introduction in Ham-

FRANK B. PATTEE APOLOGIZES FOR STATEMENT

[SPECIAL TO THE TIMES] CROWN POINT, Ind., June 24.—Charges of brigandage" were hurled from two angles this morning in the circuit court when Frank B. Pattee, attorney filed a motion to dissolve the restraining order which has been keeping stockholders of the People's State banks from opening their safe deposit boxes since the bank closed last December 22.

Judge E. Miles Norton had entered the restraining order with the admonition that stockholders be denied access until they had settled the 100 per cent stock assessment which was levied.

Pattee, who has been representing a number of stockholders in the bank receivership, appeared today for John H. Letz, a director and stockholder. A. E. Letsinger, attorney for the receiver argued for retention of the restraining order and asked that it be continued until July 1st.

Thereupon Pattee became angry and declared that the order was discriminating against the stockholders, who "are all honest men." He declared there was no occasion for such high-handed measures and said that the proceedings amounted to brigandage.

Then it was Judge Norton's turn to explode.

"There is brigandage in that bank," he declared, "and I am going to protect the depositors. And when I do it I do not feel that I am a brigand."

Pattee cooled down immediately and explained that his heat was caused by the fact that his wife is a stockholder and he felt the order was a reflection on her honesty. Later he apologized. The order still stands.

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LAKE COUNTY MAY LEASE PEOPLE'S BANK

Would Use It As Depository for Excess County Funds

[SPECIAL TO THE TIMES] CROWN POINT, Ind., Aug. 26. — The Lake county board of finance is considering a plan to rent, lease or buy the building of the defunct Peoples State bank here for use as a depository for excess county funds, County Auditor William Whitaker announced today.

Mr. Whitaker said the commissioners have had the matter under consideration for quite sometime and that they now are negotiating with Circuit Judge E. Miles Norton to effect an agreement for obtaining the building.

Judge Norton maintains legal supervision over the receivership which is liquidating the defunct bank. The receivership is operating the building.

The structure was built 12 years ago expressly for banking purposes. It would form an ideal depository, according to the county auditor.

He said a depository is needed owing to the large number of bank failures in the county during the last year and the consequent lack of sufficient operating banks to accept county funds.

In event the Peoples State bank building is obtained as a depository, all county funds in excess of those which operating banks are legally qualified to accept, will be placed in the vault of the county depository.

Mr. Whitaker explained, however, that all plans still are tentative and that nothing definite has come of them since they first were discussed by the commissioners and the county board of finance.

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LAKE COUNTY MAY LEASE PEOPLE'S BANK

Would Use It As Depository for Excess County Funds

[SPECIAL TO THE TIMES] CROWN POINT, Ind., Aug. 26. — The Lake county board of finance is considering a plan to rent, lease or buy the building of the defunct Peoples State bank here for use as a depository for excess county funds, County Auditor William Whitaker announced today.

Mr. Whitaker said the commissioners have had the matter under consideration for quite sometime and that they now are negotiating with Circuit Judge E. Miles Norton to effect an agreement for obtaining the building.

Judge Norton maintains legal supervision over the receivership which is liquidating the defunct bank. The receivership is operating the building.

The structure was built 12 years ago expressly for banking purposes. It would form an ideal depository, according to the county auditor.

He said a depository is needed owing to the large number of bank failures in the county during the last year and the consequent lack of sufficient operating banks to accept county funds.

In event the Peoples State bank building is obtained as a depository, all county funds in excess of those which operating banks are legally qualified to accept, will be placed in the vault of the county depository.

Mr. Whitaker explained, however, that all plans still are tentative and that nothing definite has come of them since they first were discussed by the commissioners and the county board of finance.

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LAKE COUNTY MAY LEASE PEOPLE'S BANK

Would Use It As Depository for Excess County Funds

[SPECIAL TO THE TIMES] CROWN POINT, Ind., Aug. 26. — The Lake county board of finance is considering a plan to rent, lease or buy the building of the defunct Peoples State bank here for use as a depository for excess county funds, County Auditor William Whitaker announced today.

Mr. Whitaker said the commissioners have had the matter under consideration for quite sometime and that they now are negotiating with Circuit Judge E. Miles Norton to effect an agreement for obtaining the building.

Judge Norton maintains legal supervision over the receivership which is liquidating the defunct bank. The receivership is operating the building.

The structure was built 12 years ago expressly for banking purposes. It would form an ideal depository, according to the county auditor.

He said a depository is needed owing to the large number of bank failures in the county during the last year and the consequent lack of sufficient operating banks to accept county funds.

In event the Peoples State bank building is obtained as a depository, all county funds in excess of those which operating banks are legally qualified to accept, will be placed in the vault of the county depository.

Mr. Whitaker explained, however, that all plans still are tentative and that nothing definite has come of them since they first were discussed by the commissioners and the county board of finance.

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LAKE COUNTY MAY LEASE PEOPLE'S BANK

Would Use It As Depository for Excess County Funds

[SPECIAL TO THE TIMES] CROWN POINT, Ind., Aug. 26. — The Lake county board of finance is considering a plan to rent, lease or buy the building of the defunct Peoples State bank here for use as a depository for excess county funds, County Auditor William Whitaker announced today.

Mr. Whitaker said the commissioners have had the matter under consideration for quite sometime and that they now are negotiating with Circuit Judge E. Miles Norton to effect an agreement for obtaining the building.

Judge Norton maintains legal supervision over the receivership which is liquidating the defunct bank. The receivership is operating the building.

The structure was built 12 years ago expressly for banking purposes. It would form an ideal depository, according to the county auditor.

He said a depository is needed owing to the large number of bank failures in the county during the last year and the consequent lack of sufficient operating banks to accept county funds.

In event the Peoples State bank building is obtained as a depository, all county funds in excess of those which operating banks are legally qualified to accept, will be placed in the vault of the county depository.

Mr. Whitaker explained, however, that all plans still are tentative and that nothing definite has come of them since they first were discussed by the commissioners and the county board of finance.

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LAKE COUNTY MAY LEASE PEOPLE'S BANK

Would Use It As Depository for Excess County Funds

[SPECIAL TO THE TIMES] CROWN POINT, Ind., Aug. 26. — The Lake county board of finance is considering a plan to rent, lease or buy the building of the defunct Peoples State bank here for use as a depository for excess county funds, County Auditor William Whitaker announced today.

Mr. Whitaker said the commissioners have had the matter under consideration for quite sometime and that they now are negotiating with Circuit Judge E. Miles Norton to effect an agreement for obtaining the building.

Judge Norton maintains legal supervision over the receivership which is liquidating the defunct bank. The receivership is operating the building.

The structure was built 12 years ago expressly for banking purposes. It would form an ideal depository, according to the county auditor.

He said a depository is needed owing to the large number of bank failures in the county during the last year and the consequent lack of sufficient operating banks to accept county funds.

In event the Peoples State bank building is obtained as a depository, all county funds in excess of those which operating banks are legally qualified to accept, will be placed in the vault of the county depository.

Mr. Whitaker explained, however, that all plans still are tentative and that nothing definite has come of them since they first were discussed by the commissioners and the county board of finance.

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RESUME FIGHT IN BOND CASE WEDNESDAY

Woman Alleges $82,000 of Her Bonds Turned in As Bank Assets

[SPECIAL TO THE TIMES] CROWN POINT, Ind., Sept. 12.—After introducing 388 different exhibits in contention of their claim that bonds totaling $82,000, that were held in trust for Mrs. Leonora M. Clark of Crown Point by the People's State bank, prior to its closing in Dec. 22, and turned into the bank examiners as assets of the bank, Attorneys Pattee and McMahon of Crown Point and Frederick Crumpacker, of Hammond, rested their case, which is being heard by Special Judge Virgil Reiter of Hammond.

Evidence so far introduced by bank books, deposit slips receipts, bank ledger sheets and other exhibits show interest paid on the bonds, to Mrs. Clark and credited to her account. However Attorneys Barr and Letsinger are attempting to prove that other bonds and notes, not these in question were the property of Mrs. Clark. This she denies and refuses to accept them.

Hearing will be resumed on next Wednesday as Judge Reiter will be busy in the Superior court on Monday and Tuesday. Several more days will be consumed in the evidence and arguments as the case is being bitterly contested.

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RESUME FIGHT IN BOND CASE WEDNESDAY

Woman Alleges $82,000 of Her Bonds Turned in As Bank Assets

[SPECIAL TO THE TIMES] CROWN POINT, Ind., Sept. 12.—After introducing 388 different exhibits in contention of their claim that bonds totaling $82,000, that were held in trust for Mrs. Leonora M. Clark of Crown Point by the People's State bank, prior to its closing in Dec. 22, and turned into the bank examiners as assets of the bank, Attorneys Pattee and McMahon of Crown Point and Frederick Crumpacker, of Hammond, rested their case, which is being heard by Special Judge Virgil Reiter of Hammond.

Evidence so far introduced by bank books, deposit slips receipts, bank ledger sheets and other exhibits show interest paid on the bonds, to Mrs. Clark and credited to her account. However Attorneys Barr and Letsinger are attempting to prove that other bonds and notes, not these in question were the property of Mrs. Clark. This she denies and refuses to accept them.

Hearing will be resumed on next Wednesday as Judge Reiter will be busy in the Superior court on Monday and Tuesday. Several more days will be consumed in the evidence and arguments as the case is being bitterly contested.

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RESUME FIGHT IN BOND CASE WEDNESDAY

Woman Alleges $82,000 of Her Bonds Turned in As Bank Assets

[SPECIAL TO THE TIMES] CROWN POINT, Ind., Sept. 12.—After introducing 388 different exhibits in contention of their claim that bonds totaling $82,000, that were held in trust for Mrs. Leonora M. Clark of Crown Point by the People's State bank, prior to its closing in Dec. 22, and turned into the bank examiners as assets of the bank, Attorneys Pattee and McMahon of Crown Point and Frederick Crumpacker, of Hammond, rested their case, which is being heard by Special Judge Virgil Reiter of Hammond.

Evidence so far introduced by bank books, deposit slips receipts, bank ledger sheets and other exhibits show interest paid on the bonds, to Mrs. Clark and credited to her account. However Attorneys Barr and Letsinger are attempting to prove that other bonds and notes, not these in question were the property of Mrs. Clark. This she denies and refuses to accept them.

Hearing will be resumed on next Wednesday as Judge Reiter will be busy in the Superior court on Monday and Tuesday. Several more days will be consumed in the evidence and arguments as the case is being bitterly contested.

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BOARD MAY ACCEPT THE EDER OFFER

[SPECIAL TO THE TIMES] CROWN POINT, Ind., Dec. 13. — Lake county commissioners yesterday indicated they looked favorably on the offer of Edward J. Eder, receiver of the People's State bank of Crown Point, to turn the bank building over to the county in lieu of the county funds which were deposited in the bank when it closed last December 21.

The building, a two-story stone structure, is valued at $60,000. The county had $295,000 deposited in the bank when it closed.

Receiver Eder expressed the belief that the bank will be able to pay only about 20 per cent and the building would represent practically that proportion of the bank's liability to the county.

It was understood that acceptance of the bank would not be considered as payment in full of the depository liability. The county gives up none of its rights to further payments, should the bank realize more than now expected on its assets. The county would also reserve the right to continue prosecution of recovery suits against signers of the depository bonds.

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PEOPLES' STOCKHOLDERS SUED

[SPECIAL THE TIMES) CROWN POINT, Ind., April Attorneys Barr this filed action in the Circuit against the stockholders of the Peoples' State Bank for Eder, the which closed, Dec. 1931. Mr. on behalf of all depositors alleging there no assets with which to pay creditors and depositors. The assets are in the of $100,000 debts, liabilities alleges that If an amount equal the capital stock of bank which was $60,000 by the stockholders, amount would greatly receiver liquidation. Among stockholders Roy G. Fagen, Mr. Mrs. Pattee, Schroeder, Mrs. Louisa Laws, Mrs. Clark, Sleeb, Peter G. Fagen, Roy Fagen, Miss Lillian Schmidt, Henry Schmidt, Mrs. Elizabeth Schmal, John Claussen, Otto Fifield, Otto Fraas, Frank Hack, George Keiser, Rev. Guethoff, Mrs. Stella Meeker, Emma Sherman, Frances Beerk, Charles Krohn, Elizabeth Letz, Leslie H. Grant Anna Wilson, Clara Sherman, Mrs. Rose Robinson and Milton Kerr.

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PEOPLES' STOCKHOLDERS SUED

[SPECIAL TO THE TIMES) CROWN POINT, Ind., April Attorneys Norton, Barr and Norton of this filed action in the Lake Circuit court week, against the stockholders of Peoples' State Edward Eder, receiver the defunct closed, Dec. 21, 1931. Mr. Eder the on behalf of all which pay and are deficient the $100,000 pay debts, obligations. I.e alleges that if amount equal the stock of the bank which was were paid by the amount would greatly aid the bank receiver liquidation. Among heaviest stockholders John H. Roy G. Fagen, Mr. and Mrs. Pattee, Meyer, John Schroeder, Louisa Laws, D. Clark, Sleeb, Peter G. Roy Fagen, Wilson, Miss Lillian Henry Mrs. John Claussen, Fifield, Otto Fraas, Frank Hack, Keiser, Rev. Guethoff, Meeker, Emma Sherman, Beerk, Charles Krohn, Elizabeth Letz, Leslie H. Grant Anna Wilson, Clara Sherman, Mrs. Rose Robinson and Milton Kerr.

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PEOPLES' STOCKHOLDERS SUED

(SPECIAL TO THE TIMES) CROWN POINT, Ind., April Attorneys Norton, Barr and Norton city filed action in the Lake Circuit court this week, against the stockholders of the Peoples' State Bank Edward Eder, receiver the defunct bank, which closed, Dec. 1931. Mr. Eder brings the on behalf of all alleging there no assets which pay creditors and The are deficient the $100,000 pay debts, obligations He alleges that equal to the of the bank which were paid by the stockholders, amount would greatly aid the bank receiver liquidation. Among stockholders John H. Roy Fagen, and Mrs. Pattee, Otte Meyer. John Schroeder, Mrs. Louisa Laws, D. Clark, Peter G. Fagen, Roy Fagen, Miss Wilson, Lillian Schmidt, Henry Mrs. Elizabeth ClausOtto Fifield Otto Fraas, Frank Hack, George Keiser, Rev. Guethoff, Stella Meeker, Miss Emma Sherman, Frances Beerk, Charles Krohn, Elizabeth Letz, Leslle H. Grant Wilson, Clara Sherman, Mrs. Rose Robinson and Milton Kerr.

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PEOPLES' STOCKHOLDERS

ISPECIAL TO THE TIMES) CROWN POINT, April Attorneys Norton, Barr and this city filed an action in the Lake Circuit this against the stockholders of the Peoples' State Bank Eder, receiver the defunct which closed, Dec. 21, 1931. Mr. Eder the on behalf of all depositors alleging that there assets with which to pay creditors and depositors. The assets are deficient in the sum of $100,000 pay debts, liabilities and obligations alleges that an amount equal the capital stock of bank which by would greatly aid the bank in liquidation. Among stockholders Roy G. Mr. and Pattee, Meyer, John Schroeder, Mrs. Louisa Laws, Mrs. Clark, Sleeb, Peter G. Fagen, Roy Fagen, Miss Margaret Wilson, Miss Lillian Schmidt, Henry Schmidt, Elizabeth Schmal, John Otto Fifield, Otto Fraas, Frank George F. Keiser, Rev. P. Guethoff, Mrs. Stella Meeker, Miss Emma Sherman, Frances Beerk, Charles Krohn, Elizabeth Letz, Leslie H. Grant Anna Wilson, Clara Sherman, Mrs. Rose Robinson and Milton Kerr.