Gas City State Bank (Gas City, IN)

Episode Information

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

Metadata

Episode ID
Bank ID
City ID
180434985
Model
gpt-5-mini
Short Digest

Notes

Reports conflict on the exact date of the president's death (Sept. 5 vs. Sept. 20) but closure and receivership are clear.

Events (2)
1. September 5, 1930 Suspension
Cause
Government Action
Cause Details
State banking department took charge after president's suicide and examiners found capital impaired; bank closed and not reopened.
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. He posted bond of $25,000. Thomas D. Barr... testified... capital structure of the bank had been impaired, making inadvisable re-opening of the bank at the present time.
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 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.

3. 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

4. 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.

5. 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.

6. March 27, 1931 Vidette-Messenger of Porter County Valparaiso, IN

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."

7. September 7, 1931 The Indianapolis Star Indianapolis, IN

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

8. October 8, 1931 Leader-Tribune Marion, IN

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.

9. 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.

10. November 15, 1931 Leader-Tribune Marion, IN

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.

11. January 18, 1934 Chronicle Tribune Marion, IN

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COURT MINUTES

SUPERIOR COURT Dessie M. Brane VS. George Brane. Divorce. straining order ordered. Custody of minor child awarded to plaintiff. Alice Nieman James Nieman. Divorce. Verified application by plaintiff for order without notice filed and same ordered. Application suit and support money filed. Hearing set for Jan. Chester Endsley vs. Iva Endsley. Verified plaintiff for order without notice filed and same is William York vs. Marion Basket Co. and Inventory and by receiver filed and approved the matter the receivership the Gas City State Bank Petition by for authority to and settle mortgage loan of Frank filed, and approved and receiver is ordered to release mortgage.

12. April 4, 1935 Leader-Tribune Marion, IN

Article Text

Gas City Bank Given Right To Pay Dividend

Another dividend of 10 percent will be paid to general creditors of the defunct Gas City State Bank as the result of an order issued by Judge Oren W. Dickey in Grant superior court Wednesday.

On petition of the First National Bank here, receiver, Judge Dickey ordered that certain securities held by the closed bank be sold and the money be used to pay the additional dividend.

When the 10 percent has been paid creditors will have two-thirds of the amount of their original claims, the petition said. The petition was signed by Marshall Williams, trust officer of the bank here.

The securities to be sold include a $1,000 bond of the state of Santa Catharina, Brazil, quoted at $22 to $24 on the $100; 150 shares of Standard Oil Co. of New Jersey common stock, par $25, quoted at $37, and eight shares of Mission Corp. common stock.