Gas City State Bank (Gas City, IN)

Episode Information

Episode UID
71076271569
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7107627 routing
Routing Number
71-0762
Start Date
September 5, 1930
Location
Gas City, Indiana (40.487, -85.613)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e6cff5a1309ec31d

Response Measures

None

Description

Newspaper OCR shows inconsistent date for the president's suicide (Sept. 5 vs. Sept. 20).

Events (4)
1. September 5, 1930 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed after president Edward Bloch's suicide and examiners found capital impaired; insolvency cited.
Newspaper Excerpt
The bank was closed following suicide of Edward Block, president, Sept. 5.
Source
newspapers
2. September 15, 1930 Receivership
Newspaper Excerpt
Rome T. Calendar was appointed receiver for the Gas City State bank today and authorized to assume charge of the institution's property and assets.
Source
newspapers
3. September 22, 1930 Other
Newspaper Excerpt
Depositors in the Gas City State bank, closed after the suicide of Edward Bloch, will realize about 75 cents on the dollar, Rome T. Calender, receiver, announces.
Source
newspapers
4. October 8, 1931 Other
Newspaper Excerpt
Checks amounting to $20,000 will be mailed to 800 depositors in the defunct Gas City State Bank, according to Rome T. Calendar, receiver for the institution.
Source
newspapers

Newspaper Articles (12)
1. September 15, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, September 15, 1930

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Article Text

RECEIVER APPOINTED FOR GAS CITY BANK Capital Impaired, Asserts State Examiner; President Suicide. B" United Press MARION, Ind., Sept. 15.-Rome T. Calendar was appointed receiver for the Gas City State bank today and authorized to assume charge of the institution's property and assets. He posted bond of $25,000. Thomas D. Barr, state deputy bank commissioner, testified at the hearing before Judge Robert F. Murray, in Grant superior court, that the capital structure of the bank had been impaired, making inadvisable re-opening of the bank at the present time. The bank was closed following suicide of Edward Block, president, Sept. 5.

2. September 16, 1930 Chronicle Tribune Marion, IN
Article from Chronicle Tribune, September 16, 1930

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Article Text

GAS CITY BANK RECEIVER NAMED (Continued From Page One) fied briefly that the bank was insolvent or in danger of insolvency and asked that a receiver be pointed. Judge 0. D. Clawson questioned the banking concerning the assets of the bank and they the bank but were in custody of the state department. Barr also informed the court that list of the assets would be filed with the The for the creditors told the court that the statutes that an interested person receiver but that did not define debtor as an interested Robert Van Atta, Marion, who Harris, the petition signed, he declared, by 70 per cent the depositors the bank. He also stated that none of the stockholders had signed the petition. The court stated that this was the first bank brought fore him and took the matter under advisement. He did not state when he would rule The receiver second quested for banks which Edward Bloch stockholder. Rome Calendar, Marion, appointed ceiver for the Gas City State bank Monday by the Grant superior court.

3. September 22, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, September 22, 1930

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Article Text

Bank Depositors to Lose By United Press GAS CITY, Ind., Sept. 22.-Depositors in the Gas City State bank, closed after the suicide of Edward Bloch, its president, will realize about 75 cents on the dollar, Rome T. Calender, receiver, announces.

4. September 23, 1930 The Indianapolis Star Indianapolis, IN
Article from The Indianapolis Star, September 23, 1930

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Article Text

DOUBLE BANK CRASH TIES UP CITY FUNDS [Special to Indianapolis M. Hundley of Summitville today appointed by Judge O. D. Clawson of the Grant Circuit court, receiver for Citizens Bank Jonesboro. the Bank Trust Company and cashier of the ton bank He posted bond of $15,000. Assets the bank are said to total Luther Symons, state banking attended hearing today that public the Citizens bank the Gas City State would be listed as preferred The has approximately in Gas City bank while the civil city has about deposited Construction work on the Gas City city hall, which is to cost $19,000, has been suspended because of the certain situation existant at the Gas City State bank for both banks were requested by Mr. after an examination showed that the institutions were insolvent

5. October 14, 1930 Chronicle Tribune Marion, IN
Article from Chronicle Tribune, October 14, 1930

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Article Text

GAS CITY BANK PAYMENT PLEA AWAITS NEW JUDGE One of the first acts of the new judge of the Grant superior court will be to act on petition by Rome Calendar, Gas City State Bank receiver, requesting permission to pay depositors of the bank per cent dividend. The petition was prepared for filing today but lack judge approve it delayed action in the matter.

6. October 15, 1930 Leader-Tribune Marion, IN
Article from Leader-Tribune, October 15, 1930

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Article Text

GAS CITY BANK PAYMENT PLEA AWAITS NEW JUDGE One of the first acts of the new judge of the Grant superior court will be to act on petition presented by Rome T. Calendar, Gas City State Bank receiver, requesting permission to pay depositors of the bank a 15 per cent dividend. The petition was prepared for filing yesterday, but lack of judge to approve it delayed action in the matter. OFFER ANNOUNCED NEW YORK, Oct. 14. (AP) A letter to stockholders of the Martin- Parry Corp., says the management has an opportunity to sell its Indianapolis plant and the inventory and equipment used in the commercial body department in that plant, to General Motors for cash. REPORT EARNINGS NEW YORK, Oct. 14. (AP) The American Telephone & Telegraph Co. today reported for the September quarter net earnings of $41,728,949. equal to $2.55 share on 16,323,854 average shares outstanding. 8.50; packing sows, rough $6@7.50; stags, 80 lbs. dock, $4.75@8.25. Cattle Good to choice steers $8.50@10.50; prime yearlings, $8.50 @10.50; common to good steers, $5.50@7.50; prime heifers, accordmg to weight, $7.50@10; good to choice heifers, $6.50@7.50; to good heifers, $4.50@6.50; good to choice cows, $5.50@6.50; common to fair cows, $4@4.50: canners and cutters, good to choice light butcher bulls, $6.50@7.50; prime export bulls, $6@6.50; common to fair bulls, $4.50@5.50. Calves- Fancy selected vealers $12.50; good to choice vealers $9@12; common to good vealers $6@9. Sheep and Spring lambs $7.75 down; cull lambs $6 down.

7. November 1, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, November 1, 1930

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Article Text

CLOSED BANK PAYING Depositors in Gas City State Receiving Checks for $34,000. Bill Times Special MARION, Ind., Nov. 1.-Checks totaling $34,000, representing the first payment to depositors, have been mailed by Rome T. Calendar, receiver for the closed Gas City State bank. The payment represents about one-sixth of total deposits. Calendar was named receiver for the bank after state examiners reported it insolvent. The state banking department took charge after the death of the president, Edward Bloch, who committed suicide, Sept. 20, 1930. Another payment will be made within a few weeks, Calendar stated. He has estimated that depositors will receive at least 76 per cent of their deposits.

8. March 27, 1931 Vidette-Messenger of Porter County Valparaiso, IN
Article from Vidette-Messenger of Porter County, March 27, 1931

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Article Text

FILES SUIT TO COLLECT ON SHORTAGE MARION, Ind., Mar. 27-(INS)A suit seeking $27,798.20 from W. D. Jay, cashier of the defunct Citizens' State bank which closed at Jonesboro, Ind., on September 8th. and $7,663.93 from the American Surety company, has been filed in Grant superior court here by Frank M. Huntley, receiver for the bank. The petition made sensational charges. It alleged that the bank suffered loss of $27,798.20 through fraud, forgery, theft, embezzlement and misapplication of funds on the part of the bank's employes. A note signed by Jay for $2,336.07, and already made good by the surety company, was cited in the petition. Other notes bearing the signature of Edward Bloch, president of the bank, whose suicide by poison in a Muncle, Ind., hotel on September 5th led to the closing of the Jonesboro bank and of the Gas City State bank of which he also was head. The plaintiff also charged that Jay accepted check signed "Citizens' Bank, by Edward Bloch, president," for $2,025.65 payable to Thomas D. Barr, deputy state bank commissioner, "without any evidence of authority of the said president to draw such check and without anything of value having been received by the said bank." INDIANAPOLIS, Mar. 27.-(INS) -Thomas D. Barr, deputy state bank commissioner, Thursday explained the $2,025.65 check transaction which he had with the now defunct Oitizens' State Bank of Jonesboro, Ind., and which was cited in a civil suit brought by the bank's receiver at Marion. "The Jonesboro bank bought a chattel mortgage from me." Barr said. "The mortgage was due me from E. H. Neal. This man also owed the bank some money. The bank took over the mortgage to make ts debt safe. It was an ordinary business transaction."

9. September 7, 1931 The Indianapolis Star Indianapolis, IN
Article from The Indianapolis Star, September 7, 1931

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Article Text

BANK AT GAS CITY TO NEW HOME [Special The Indianapolis Star.] MARION. Ind., Sept. real estate building formerly owned by the defunct Gas City State bank has been by the Twin City State bank at Gas City, according City bank moving its fices the building Monday The organized after the Gas bank was taken over by receivers. JASPER, Ind. Sept. Dubois State Jasper yesterday the build ing, estate and fixtures the State public sale from Albert WedeDale, the for Wedeking, who chairman the state was receiver after the bank was closed some time

10. October 8, 1931 Leader-Tribune Marion, IN
Article from Leader-Tribune, October 8, 1931

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Article Text

GAS CITY BANK RECEIVER TO MAIL OUT 800 CHECKS Checks amounting to $20,000 will be mailed to 800 depositors in the defunct Gas City State Bank, according to Rome T. Calendar, receiver for the institution. The checks will be placed in the mails Thursday and Friday. Payment of the current amount will bring the total payment to depositors to 46 2-3 per cent of the entire amount of deposits in the bank.

11. October 9, 1931 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, October 9, 1931

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Article Text

Closed Bank Pays $20,000 GAS CITY, Ind., Oct. 9.-A payment of approximately $20,000 has been sent to depositors of the defunct Gas City State bank by Rome T. Callendar, receiver. The payment makes a total of 462-3 per cent paid to depositors since Callendar took charge.

12. November 15, 1931 Leader-Tribune Marion, IN
Article from Leader-Tribune, November 15, 1931

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Article Text

FILE 2 APPEAL BONDS IN CASES Appeal bonds were filed Saturday in two claims filed by Harry L. Connelly, former county clerk, against receivers for the Gas City State Bank and The Citizens Bank of Jonesboro. Sitting as a joint court, Judge O. D. Clawson and Judge Oren W. Dickey, heard evidence on the two claims. The courts held that the claims should be entered as general claims. The claims represented certificates of deposit totalling $2,500 in each of the banks less payment made by the receivers. Notice of an appeal to the appellate court was given by attorneys for Connelly and bonds were fixed at $100 in each case.