Thomas Exchange Bank (Corunna, IN)

Episode Information

Episode Type
Suspension โ†’ Closure
Start Date
October 27, 1927
Location
Corunna, Indiana (41.437, -85.147)
Bank Type
private
Routing Number
71-0716

Metadata

Notes

Closure and receivership followed the death of sole owner Milo Thomas; bank was a private institution.

Events (4)

1. October 27, 1927 Suspension
Cause
Voluntary Liquidation
Cause Details
Death of sole owner Milo Thomas forced closure pending settlement of estate and liquidation of affairs.
Newspaper Excerpt
The Thomas Exchange Bank, private institution at Corunna owned and managed by Milo until the his death ten days ago, was closed
Source
newspapers
2. October 27, 1927 Other
Newspaper Excerpt
The Auburn State Bank yesterday was named for the Thomas Exchange Bank at Corunna. The appointment of the Auburn bank was an agreement between the estate the late Milo Thomas and state banking department, made necessary to liquidate the fairs the bank which is said to be deposits of the bank total about and the assets amount to $160,000.
Source
newspapers
3. December 19, 1927 Other
Newspaper Excerpt
A petition from the Auburn State bank, receiver, to pay a dividend of 25 per cent to the claimants against the Thomas Exchange bank of Corunna, has been granted in the DeKalb circuit court.
Source
newspapers
4. October 25, 1928 Other
Newspaper Excerpt
The Auburn State bank, receiver of the Thomas Exchange bank of Corunna, is preparing to pay another dividend to depositors on Nov. 1.
Source
newspapers

Newspaper Articles (10)

Article from The Waterloo Press, October 27, 1927

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CORUNNA BANK IS CLOSED

Death of Owner Bank Makes cessary to Close Pending the of Affairs to be Liquidated

The Auburn State Bank yesterday was named for the Thomas Exchange Bank at Corunna. The appointment of the Auburn bank was an agreement between the estate the late Milo Thomas and state banking department, made necessary to liquidate the fairs the bank which is said to be deposits of the bank total about and the assets amount to $160,000. The bank was capitalized $25,000, all of which owned by the late Thomas, and was operated as private bank. There having been no partnership in the bank, was necessary to take this close business. The Thomas Exchange Bank, private institution at Corunna owned and managed by Milo until the his death ten days ago, was closed Continued on page five


Article from Garrett Clipper, December 19, 1927

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ORDER DIVIDEND OF 25 PER CENT BANK CLAIMANTS

Collections for Corunna Bank Being Made

A petition from the Auburn State bank. receiver, to pay a dividend of 25 per cent to the claimants against the Thomas Exchange bank of Corunna, has been granted in the DeKalb circuit court. In the petition it was stated that the receiver had collected an amount sufficient to justify such a payment. Also upon request of the receiver, the court authorized notice to be given all creditors to file their claims within thirty days.


Article from The Waterloo Press, December 22, 1927

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Thomas Exchange Bank WIII Receive 25% Their Claims Ordered Paid

The Auburn State Bank, receiver for the Thomas Exchange Bank, Corunna, has been ordered by the DeKalb circuit court to fourth the amount of the claims against Thomas Exchange Bank. At the request of receiver the notice sued that all creditors bank must file their claims within thirty days. The affairs of the Thomas Exchange Bank being liquidated through receivership appointed after the death Milo Thomas, who the owner the private institution. The steps taken were made necessary due to the fact that there no other partners the bank.


Article from Garrett Clipper, January 16, 1928

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Pleasant Wednesday for medical

Miss Mary Jensimer Wednesday for medical treatment.

Paul Brandon of Auburn. Wednesday hernia operation. Wilson of Auburn, came Thursday for major operation. Mrs. Emily Fischer of South Lee birth son Thursday. Melvin Brunkhart of Friday medical Joseph Trausch of Blakesly, came Friday for gall bladder operation Baby Daniel Bunting minor operation Friday. Orla Meyers Waterloo, who Dec. for an appendix recovering. Mrs. Carl Grossman of Wolcottville, who came Dec. for major operation doing nicely. Mrs. Arthur Rosenberry. who came Dec. for major improving. Miller North Randolph who Dec. minor operation, recovering rapidly. Joseph Livergood of the DeKalb county farm. who heroperation Dec. improving Mrs. Vermont Finley of Kendallville, who came Dec. 10 for operation, recovering. Mrs. Dorothy Stangland of Albion, who underwent Caesarean tion Frank Vanaman of who Mongo. submitted to hernia operation Dec. improving rapidly. Nan Crimes of Kendallville. who came Dec. for medical treatdoing nicely. Mrs. Leon Eagles Albion. who Caesarean tion Mrs. Fred Reinig of Waterloo. who underwent major operation is recovering. Mrs. Eva Marquardt of underwent Caesarean operation Jan. returned her home Saturday. Clarence Young of North Walsh street, who submitted to hernia eration Jan. improving. Thomas Burtch of South Walsh who submitted serious operation Jan. rapidly recovering. Wm. Fortsman of Avilla, who Jan. for gallstone doing nicely. Milo Brace of Garrett rural route who came Dec. 24 for medical improving. Mrs. Noonan of South Cowen who Dec. for 19 major operation, continues improve. Jacob Kircher of Akron, who came Nov. 27 for medical treatment, improving slowly. Theron Miller, who had his back broken in an accident Oct. as well can be expected. Miss Bernice Snyder of Washington, She came last March for medical treatment Miss Sarah Fountain, who has been patient over years, remains the same.

Notice being given by the Auburn State bank, receiver of the Thomas Exchange bank of Corunna. that claims must filed with the receiver before February 20.


Article from Garrett Clipper, October 25, 1928

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The Personal Side

United States Senator Joseph T. Robinson of Arkansas, democratic candidate for vice-president, will speak in Fort Wayne on the evening of Wednesday, October 31, instead of on Thursday, November 1, as originally planned. Paul Perry. suing F. W. Madden and J. M. Beams in the DeKalb circuit court, says they have failed to pay note of $141.70 executed March 17, 1926, and due in nine months. The plaintiff's attorney is Willis Rhoads. The Auburn State bank, receiver of the Thomas Exchange bank of Corunna, is preparing to pay another dividend to depositors on Nov. 1. The_dividend will be in the amount of 15 per cent. Two previous dividends of 25 per cent each have been paid by the receiver. The district convention of the American Legion auxiliary at Waterloo has been postponed until November 1, Mrs. J. N. Mock of Kendallville, the twelfth district committeewomen has advised Mrs. Clementine Stump of Auburn, the county chairman. Zella Hinman, in a complaint filed in the DeKalb circuit court by Attorney Henry J. Spackey, says that on May 20, 1921, Clyde L. Betz executed and delivered to W. H. Hinman a note for $120 payable on the following Nov. 1. The note was assigned to the plaintiff and is unpaid. A judgment of $237.45 is demanded. The St. Joe Valley bank, in a new complaint filed in the DeKalb circuit court, says that Fred W. Madden and J. M. Beams gave Wm. Curie a note July 7. 1927, in the sum of $115 and due in a year. The note was assigned to the bank and is unpaid. The plaintiff's attorney is Capt. H. C. Springer. Owing to the fact that all the issues were not made up, the trial of the suit of Albert H. Reinhart against Lee and Ezra Reinhart to establish a lost will was not started in the Noble circuit court at Albion Monday, but was continued to Nov. 2. The case had been venued to Noble county from DeKalb county. The Auburn Automobile company will soon complete its new building program at its Connersville plant aggregating approximately $450,000. The new additions will contain 250,000 square feet of floor space and provide for an export assembly department, new enameling plant and final testing department. An order has been issued by the federal court at Chicago for the sale of the H. C. Bay Piano factory in Bluffton. Ind., on November 8. Bids are to be received by the referee in chancery. Harry A. Parkins of Chicago, federal court at Chicago. Several prospective buyers have inspected the large plant which went into the hands of a receiver in bankruptcy proceedings last spring. Four girls who escaped from White's institute near Wabash, Ind. were returned to the institution Tuesday. Two of the girls were 15. one 16 and one 17. The girls were found wandering on the streets in Peru, Ind. It is reported that they slept in an abandoned farm house near Peru Monday night. One girl has been sent to the institute from South Bend. another from Indianapolis and two from Wabash. The value of fertilization for corn crops on DeKalb farms will be demonstrated in three trips by farmers interested in getting better results from seed planting. The farms tabe visited will be Marion DeLong's in southeast Fairfield township, Friday, October 26th at 1 p. m., on Saturday, October 27th, the Tarm of Merritt Sechler north of St. Joe at 1 o'clock and the following Monday afternoon the same hour the farm of Burl Moughler, four miles northeast of St. Joe. The will of the late Molly E. Shilling of Auburn. was probated in the DeKalb circuit court Tuesday. All the property is devised to the City National bank of Auburn in trust. The bank is directed to pay Mrs. Shilling's stepmother, Mrs. Nissa Packer of Rochester, Ind., a sum sufficient in the discretion of the bank to maintain Mrs. Packer in comfort until her death, or until the fund is exhausted. If any of the fund at her death it is to be paid to Mrs. Shilling's brother-inlaw, Carl Shilling of Chicago. The will was executed Oct. 19. 1928. with Edward M. Heacock, John J. Gasser and Dan M. Link as witnesses. The bank accepted the trust. That the birth of a child out of wedlock will not affect a will made by the father before the child's birth, was the decision of the Indiana Appellate court at Indianapolis Tuesday in the case of Wayne Eckart against Henry Eckart, executor of the will of Herbert Eckart of Allen county. The original action. brought by the child's mother, Marvel Archbald, sought to have Eckart's will declared invalid because the child was born after he had made the will in which his property was left to his parents and sister. The judgment of the Allen circuit court is sustained in the appellate court decree, Judge Sol A Wood also having contended that the validity of the will in question is not affected as the document was made by the deceased Herbert Eckart before the child. alleged to have been born out of wedlock, was born.


Article from Garrett Clipper, November 1, 1928

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BOY'S ARM SHATTERED IN HUNTING ACCIDENT

Bluffton, Ind., Oct. 30.-Paul Clowser, 9-year-old son of Mr. and Mrs. Lloyd Clowser, living near Craigville, suffered a badly shattered right arm in an accident near his home. The lad had gone hunting with his father, his brother and another lad. Mr. Clowser laid down a shotgun he was carrying to obtain a club to chase a rabbit out of the butt of a tree. In some manner the shotgun was discharged while lying on the ground, the load striking the Clowser youth in the right arm. The injured boy was brought to the Wells county hospital here where an operation was performed for the removal of 16 or 18 shots. Practically every bone in the Iad's arm was shattered by the accident. The boy was weakened by the loss of a large quantity of blood.

Nelson J. Shook. administrator of the estate of the late George F. Baltz, has been authorized in the DeKalb circuit court to sell real estate in order to pay claims. The property was appraised by John H. Oster and Verne E. Harding at $6,700 and Mr. Baltz filed $14,000 additional bond with S. P. Becker and Mr. Oster as sureties. The Auburn State bank, receiver of the Thomas Exchange bank of Corunna, holds a mortgage on the land and another is held by the state of Indiana. A match she struck while sorting fruit in the basement of her home set fire to the clothing of Mrs. Clarence Stuck of Union City, Ind., and caused burns from which she died five hours later. Her husband found her sitting on the cellar steps, the clothing having been burned from her body. It is believed that she had been burned about two hours before she was found. Prosecutor Milo Thompson of Anola, has advertised a public sale of the property of the victim of the murder in Steuben county in August, to be held on Nov. 10. There are some fancy pajamas and underwear in the lot, a fine traveling bag and the death car. A judgment of $60 for rent has been entered in the DeKalb circuit court in favor of Jack M. Beams against Walter Zonker and Henry Krabill. The court had been holding the cause under advisement.


Article from Garrett Clipper, October 16, 1930

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painting and papering Elam. You may your county at the Garrett Loan Trust For Overland or Willys Knight cars Ross at Order your Christmas greeting cards now from The Cogley South Franklin street attended funeral the late Gearns at Pittsburgh Ben Casebeer of Gaary, spent Satur day and Sunday with John Gordon of South Guilford street. Mrs. Anna has returned from Portland and Muncie, Ind., Quaker City and Marietta, She was gone four weeks. Mrs. Floyd Kast and Mrs. Laura McNabb will entertain the Harmony circle the church at the hom of Mrs. Kast Friday afternoon. Mr. and Mrs. Wilson of South Bend, returned to their home Monday after few days' visit with and Mrs. C. Broughton of South Cowen street. The trial of the damage suit of John W. Sowers against the Indiana Service Corporation, set for Thursday in the DeKtalb circuit court, was postponed Wednesday to December 16.

Miss Florence Little of South Randolph street Monday from Detroit, where she spent the with Mr. and Mrs. William Heston. She also the Purduefootball game Ann Arbor Saturday The homes have been on account of child in each being with scarlet fever: Smith, East High street, W. Hauck, 306 South street, and Milks, 319 South Franklin street. The cases are very mild. Mrs. Harry Crow was hostess her bridge club her home South Franklin street Tuesday afternoon. Two tables were formed at the game and the prize was presented to Mrs. Jack Dainty refreshments were served. The annual dollar social given the Ladies' Aid of the church be held this the home of Mrs. H. W. Mountz on East Houston street o'clock. special probeen arranged. This will be gram has time to turn in coin held in the DeKalb circuit court Monday in the action brought by Garrett and Trust Co. and Little, Loan the will of the late to Little construed. After the evidence was submitted the cause taken under advisement. motion by plaintiff for new trial of the damage suit of EmLongfield against Edna May ma Frech has been overruled in the DeKalb circuit court. Trial before held in March, 1929, and jury was returned the defendverdict was for The was venued here from ant. case Allen county. Bohler of Garrett, has filed Ruth the DeKalb circuit court motion change of venue from the regular judge in the case brought against her and others by the state of Indiex rel Kathleen Longbrake Potsupport bond on furnished by her brother, Ordeth Longbrake. Judge Endicott Monday allowed claim against the Auburn State bank, receiver of the Thomas Ex change bank of Corunna. in favor Stearns in the sum of Mrs. Stearns was given leave to the last month. Her torneys are Stump McClintock. while Atkinson Husselman represent the receiver. There were 76 marriages in DeKalb county for the three ending September 30th. according to filed by Dr. Swarts. report DeKalb All were white people. Of the grooms 74 were Americans and two foreign. All the brides were Americans. married were under twenty years age and one, more than years old. groom was Dogs have been in Fort Wayne at the rate of 67 month the past three Wilfred Goss of the Fort Wayne Humane society. He believes systematic robbery was being carried on by persons specializing sale two particular breeds. truck labeled which connection the police dehas been going rounds partment and collecting dogs unlawfully.' Goss said.


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Personal

Painting Papering. 486-W. Elam. The to will meet on the third floor of the Palace meat market Friday, Oct. at 7:30 Mrs. M. R. Lust of Sunnyside, arrived Sunday to spend week with her and sister, Mr. and Mrs. Rex Girffith East King street. The suit of Ruth Sherck and Nellie Luttman against Louis Loutzenheiser rent has been dismissed in the DeKalb circuit court. Sterne & Maley has dismissed suit in the DeKalb circuit court against the Garrett Modern Laundry on account. The suit on account of the Indiana Service Corporation against John R. Rapp has been dismissed in the DeKalb circuit court. report of Lauby, administrator of the estate of the late Frank Newbauer of Garrett, of the sale real estate George and Nellie Monn for $700 was approved Tuesday in the DeKalb circuit court. The Chicago Paint Works has sued the Hoxie Hardware Co. of Waterloo, in the DeKalb circuit court for on an account. The plaintiff's attorney is Geo. W. Crooks. In the suit of the City National bank of Auburn, against Eli Rainjudgment was entered Monday the DeKalb circuit court. E. McClintock appeared attorney for the bank and the defendant defaulted. Real estate involved in the partition suit of Della Crawford against Thomas Shull and others has been appraised at $2,200, and report by the commissioner, Russel R. Ridenour, to that effect has been approved in the DeKalb circuit court. Earl of Garrett. alleged owner of 32 slot machines seized in raids at lake resorts in Kosciusko posted bond totaling $2,800 at Warsaw Tuesday. accused in 14 affidavits, put up bond of $200 on each The DeKalb county W. T. will hold its yearly convention on Friday afternoon. Oct. the Eckhart Public Library in Auburn. starting o'clock. At this election of officers will be held and reports for the year will be given by department directors. Enactment of state income tax suggested the most feasible means reducing the tax burden on property by James Showalter. chairman the state board and Pliny H Wolfard. member of the commission. addresses at Indianapolis Tuesday Opposition to bus transportation, which is held by the group be one of the chief causes railroad financial difficulties, expressed in resolution adopted the state organization of the of Railroad Trainmen at the final business session of the annual convention held at the Anthony hotel in Fort Saturday and Sunday. The state board Monday sanctioned additional appropriations for DeKalb county for the year 1931 in the amount of $24.This grant is in accordance with the allowances by county council recently. including an of of the cost of the state road south of Garrett and for poor relief. Judge Endicott has approved port by Roy Johnson of Corunna, guardian of Frank Wilson, of the sale real estate, consisting of 15 acre, 25 acre and lot 18, Sunnyside addition to Jennie Itt for This amount was due the latter for the care and support of Mr. Wilson prior to the time he was declared of unsound mind. The sale of lot.1 in Sunnyside addition to Carrick for $50 approved. Yeggs who pried open window enter the office of the farm bureau Albion and blew two safes with nitroglycerin obtained but $6 early Sunday. Both safes were in the same office. The papers in strong boxes and put the floor, but not otherwise Guy manager at Albion for the Indiana Farm bureau, discovered burglary when he opened the office Sunday morning. No heard the blasts. The Auburn State bank, receiver of the Thomas Exchange bank of Corunna, has filed suit in the DeKalb court against Jason Childs to foreclose mortgage on 80 acres of land in Fairfield The mortgage executed April 1925, and was payable in eight but the that the interest is delinquent since October, 1926. judgment of is demanded. The receiver's attorneys are Atkinson Husselman. Attorney Leo C. Rumbaugh of bion, has been appointed trustee bankruptcy for the estate of Alec M. Rennie, owner of automobile agenat Albion and at The by Wheeler Ashcraft of Portland, referee in bankruptcy, sitting in federal court Fort Wayne. Rennie filed bankruptey plea September He has operated the Noble County bile company at Albion and the Alec Rennie Ford agency at Rumbaugh filed bond of $10,000. Nitroglycerin was used by thieves in blowing coal yard safes at Columbia City early Sunday mornsafes were located in the Albert Walter Coal company office and the Neible and Ramp Coal and Ice company office, the offices being located just across the street, east and west, from one another. No loot obtained at the Walters yard and the thieves only got at the Neible Ramp yard, most of which in checks. Entry to the two offices was made by breaking glass the front door and releasing the lock. The safe doors were soaped to prevent the nitroglycerin from running out onto floor. No one heard the explosions. This probably due to the noise made at the city power plant, which is less than block away.


Article Text

Current reports in guardianships: Katherine M. Luton, Leona Spurling guardian.

Leuella, Edwin, George, Ethel, Raymond and Lyle Roose, Chas. F. Lumm guardian.

Lyle, Martha and John Hunter, Geo. L. Hunter guardian.

Bernice, Orpha, Milton and Naomi Myers, Perry Myers guardian.

The Milo J. Thomas estate was settled as insolvent. After meeting expenses of administration, amounting to $661.39, and paying the widow, Vesta M. Thomas, $131 as her share of the sale of some real estate at Kendallville, the amount of $2,608.39 remained for distribution among the general creditors. The general claims totalled $33,668.60, including $30,000.00 allowed to the Auburn State bank as receiver of the Thomas Exchange bank of Corunna. The distribution by the administrator amounted to about 7ยพ per cent.

Clipper classified ads pay.


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Social and Personal

Pay W. T. Eagan insurance accounts to Miss Clara Bapst at Riedhart's store.

A report by the Auburn State bank, receiver of the Thomas Exchange bank of Corunna, of the sale of land in Whitley county to C. A. and Sara Straub for $1,700 has been approved in the DeKalb circuit court.

Dr. and Mrs. M. W. Manion of Indianapolis, and Mr. and Mrs. H. C. Springer and children, Clark and Nancy, of Butler, spent Sunday with Mr. and Mrs. J. C. Manion of South Franklin street.

After the regular business session of the Sigma Phi Gamma sorority Monday evening at the home of Miss Treva DePew on South Guilford street, three tables were formed at bridge and Miss Maxine Rickett was awarded the high score favor.

The Schlosser company of Fort Wayne, has opened a cream station at 114 North Cowen street, with C. Howard Hall as manager. The station will buy cream, poultry and eggs and will also retail these products.