Farmers Bank (Milton, IN)

Episode Information

Episode UID
71083671447
Episode Type
Suspension → Closure
Bank Type
private
Bank ID
7108367 routing
Routing Number
71-0836
Start Date
July 6, 1920
Location
Milton, Indiana (39.786, -85.156)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
74e5b1a6cfa04c41

Response Measures

None

Description

Article text describes the bank as a private/partnership-style institution organized as a stock company.

Events (2)
1. July 6, 1920 Receivership
Newspaper Excerpt
Immediate appointment of a receiver was asked and Claude S. Kitterman of Cambridge City was appointed to take over the affairs of the defunct institution.
Source
newspapers
2. July 6, 1920 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Cashier Oscar M. Kirlin committed suicide and a large shortage (about $100,000) was discovered; alleged looting and worthless notes.
Newspaper Excerpt
The bank did not open for business this morning.
Source
newspapers

Newspaper Articles (21)
1. July 7, 1920 South Bend News-Times South Bend, IN
Article from South Bend News-Times, July 7, 1920

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INDIANA BANKER STEALS $100,000 Bank of Milton Farmers' Closes Doors-Cashier Commits Suicide. By Associated Press: RICHMOND, Ind., July 6.-Oscar M. Kirlin, cashier of the Farmers bank of Milton, Ind., looted the bank to the extent of $100,000, according to charges made in a suit for receivership filed in circuit court here Tuesday. Kirlin committed suicide July 1. The bank did not open for business this morning. The suit was filed by the stockholders of the bank and names the banking company and J. L. Harmeir, former partner of Kirlin and administrator of his estate. The complaint alleges that the books of the bank have not been properly kept for more than three months and that at this time P is impossible to tell just what is the actual condition. It is stated that there were notes with a face value of $90,000 in the bank. which are believed to be worthless, and that there is a shortage of several thou sand dollars in the cash account of the bank. Kirlin's estate contains a large number of shares of 01. stock, and other stocks of no value, and the complaint alleges that he converted large sums to his own uses. The deposits of the bank are $100,000. and the capital stock $25.000. The liabilities are placed at $150,000.

2. July 29, 1920 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, July 29, 1920

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KIRLIN'S WAY OF HANDLING NOTES SHOWN Orders Reveal "Double-Acting" System of Sending Notes Through Connersville Bank. CASH PAID ON NOTES Evidence of the confusion which exists in effecting a settlement of the afFarmers fairs Ind., of which the suspended Bank of business, the of cashier, Milton, July 6, the suicide was orders issued by day Oscar following by M. Kirlin, furnished Judge William ThursA. Bond of the Wayne circuit court, acting on petitions submitted by the receiver for the bank. Claude Kitterman, of Cambridge City, Ind. In one order Judge Bond authorized the appointment of an expert accountant to assist the receiver in the of the bank's affairs. directs investigation Another order the by George surrender notes held J. for payment copy of for Klemme, original $1,700, upon $3,000, and by of Ed Wilson, notes, each in the form of a renewal and held by the First National Bank of Connersville, Ind., which were executed by Kirlin without authority. This order further authorizes the receiver to treat all similar circumstances in the same way. Cash Is Applied on Note. directs of the in cash found A $2,000 third order business that in the $1,000 be bank paid when it suspended over to the First National Bank, of Connersville to be applied to a note for $4,500 taken out with the Farmers' bank by Edgar R. Beeson. in the petition that on last, It April is which set 2, forth Beeson transferred executed the note was then to National was the reserve for ville, the First which Bank discounted. of bank Conners- It the Milton bank, and is stated that on May 10 Beeson paid Kirlin $1,000 to be applied upon the note. Kirlin, however, kept the money at bank. It is understood that a to he his Beeson own held receipt show that Kirlin had made payment of $1,000 to on the note. According to representations made Receiver Kitterman, it custom of to secure a rewas to had the been unable court the by promptly Kirlin when he a for him a note in the form a newal copy of note, of to draw the renewal up Conthe note to retaining Farmers' as nersville note and return at the bank, copy bank the the original real evidence the debt for the original note had To Settle of Original been executed. Debts. which notes notes the same As the represent copy and debt, the original in such the receiver is to the copy instances, compound and the authorized with original the notes and make settlement note executors at the amount of the original debt as evidenced by the original note. As stated, the order is made directly applicable for the settlement of the notes of George J. Klemme and Ed. Wilson, but covers all cases similar to theirs. It is stated in the receiver's petition that there probably were other cases similar to those of Klemme and Wilson. It is further stated that in such instances when Kirlin prepared a copy in the form of a renewal, upon the of an the such rediscounted note maturity copy original notes note, at then he so or consent the Connersville knowledge bank, did of other the without than officers of the Farmers bank, himself, and of the officers of the Connersville bank. One of the most interesting recent developments in the Farmers' bank failure is the fact that the bond Kirlin was supposed to have given as cashier of the institution cannot be located. At the time the bank was closed it was stated that Kirlin was under a blanket bond, the bondsmen being the cashier's father, Omar Kirlin, and the estate of the late Lycurgus Beeson.

3. July 30, 1920 Indiana Daily Times Indianapolis, IN
Article from Indiana Daily Times, July 30, 1920

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ORDERS ISSUED IN BANK TANGLE Accountant to Aid Receiver at Milton. Special to The Times. RICHMOND. Ind., July 30. Orders is. sued by Judge William A. Bond of the Wayne circuit court, acting on petitions submitted by Claude Kitterman. receiver for the Farmers' bank of Milton, which suspended business July 6. following the suicide of the cashier. Oscar Kirlin, show that the affairs of the bank are in a state of confusion. One of the orders from Judge Bond's court authorized the appointment of an expert accountant to assist the receiver in untangling the banks' affairs. Another order directs the surrender of original notes held by George J. Klemme for $3,000 and by Ed Wilson for $1,700 upon payment of copy notes. each in the form of a renewal and held by the First National bank of Connersville, which were executed by Kirlin without authority. This order further authorizes the receiver to treat all. similar circumstances in the same way. A third order directs that $1,000 of the $2,000 in cash, found in the bank when It suspended business, be paid over to the First National bank. of Cornersville to be applied to note for $4,500 taken out with the Farmers' bank Dy Edgar R. Beeson It is alleged in the petition that on April 2, Beeson executed the note which was then transferred to the First National bank of Connersville. which was the reserve banks for the Milton bank. It is claimed that on May 10 Beeson paid Kirlin $1,000 to be paid on the note, but Kirlin kept the monêy at his own bank, while Beeson held a receipt to show that he had made payment of $1,000 on the note.

4. July 31, 1920 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, July 31, 1920

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BEESON CHECK NEVER GOT TO COUNTY FUNDS Widow Issued Inheritance Tax Check, and Gave it to Kerlin-No Township Bond Found. REPORT IS QUESTIONED Following the death of Lycurgus Beeson, a resident of Washington township and one of the men said to have been on the bond of Oscar M. Kirlin, cashier of the Farmers Bank at Milton, until his suicide in July, Mrs. Beeson, the widow, issued a check for $231 for the purpose of paying the inheritance tax. The check was given to Kirlin and was made payable to him. It has just been ascertained, however, from the books in the office of the county treasurer, that Mrs. Beeson's tax payment was never received at the treasurer's office. Beeson died several months ago. From a reliable source it was learned Saturday that not only has no trace been found of the bond held by Kirlin as cashier of the Farmers Bank but that the bond he gave for handling the funds of Washington township is also missing. Bond Is Again Torn Out. Kirlin was a member of the Washington township advisory board. The books of the board were kept by Kirlin at the Farmer's bank and his bond with the township was pasted in the back of one of these books. An investigation revealed the fact that this bond has been torn out of the book. So far as can be learned. the minutes of the board of directors of the bank show no entry of Kirlin having given bond as cashier of the institution, although information given out by the state bank department is to the effect that last February Kirlin notified the department that he had given bond. In Richmond financial circles the report of the condition of the Farmers' bank as of September, 1919, made to the state bank department by one of its examiners and published for the first time in the Palladium, Thursday, is a subject for general discussion. Report is Questioned It is pointed out that this report in dicated the affairs of the bank at Milton were in a healthy state and were being properly conducted, at the same time setting forth that the bank's rediscounted notes with the First National bank of Connersville, Ind. amounted to $124,560, or five times the amount of the captital stock of the Farmers' bank. In banking circles it is regarded as poor policy for a bank to have out rediscounted notes of an amount anywhere near approximating the capital stock of the institution. It is understood that at the time the Farmers' bank suspended operations it had out rediscounted notes of an amount approximating seven times in excess of its capital stock.

5. August 10, 1920 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, August 10, 1920

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PROBE AT MILTON BANK NEARING END Investigation of the affairs of the Farmers' bank of Milton, Ind., which went into the hands of a receiver a few weeks ago, is now being brought to a close and, it is said, the receiver may be able to submit his report to Judge Bond of the circuit court within the next week or 10 days. There is no indication as to what the report will reveal. Patrons of the bank are anxiously awaiting this report, for they are hopeful that a settlement of claims will be made very soon after the received concludes his work. A large number of the depositors of the Farmers' bank have been financially embarrassed by the closing of the institution owing to the fact that it will not be possible to withdraw their money until the receiver is ready to make a settlement of the claims.

6. September 2, 1920 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, September 2, 1920

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MILTON BANK REPORT MADE First report made by Claude Kitterman on his receivership of the Farmers' bank of Milton, Ind., which institution was closed July 6 following the suicide of Oscar M. Kirlin, the cashier, July 1, was submitted to Judge William A. Bond, Thursday afternoon. The report was brief and listed the assets of the bank but gave no figures on the liabilities of the institution. The total assets were fixed at $245,541.99. Can't Give Exact Liabilities In the report the receiver stated that he was not able to give the exact liabilities of the bank at this time as all the claims against the institution have not been filed with the receiver. Included among the assets of the bank is an item of $66,968.12 for overdrawn accounts of customers. The receiver, in his report, expresses the opinion that not all the notes and overdrawn customers accounts will be collectable for the reason that "some of the parties of said notes and overdrawn customers accounts are insolvent." The assets of the bank are listed by the receiver as follows: Total notes receivable $339,785.54 Less notes rediscounted 171,919.60

7. September 11, 1920 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, September 11, 1920

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INVENTORY OF KIRLIN ESTATE LEAVES DOUBT Fails To Shed Light on Farmers Bank Shortage at Milton, Estimated at Large Sum. HAD 'NO VALUE' STOCKS Inventory of the personal estate of the late Oscar W. Kirlin, former cashier of the Farmers' Bank of Milton, Ind., who committed suicide last July, taken by Irvin J. L. Harmeier, administrator, and appraisement made by Frank Callaway and William H. Doney fails to shed any light on the Farmers' Bank shortage, which has been estimated variously from $100,000 to $200,000. The bank suspended operations over two months ago, shortly after Kirlin killed himself, and is now in the hands of a receiver. The appraised value of the debts due to the Kirlin estate, as shown in the report which has been submitted to the circuit court, is $16,973.20. The appraised value of Kirlin's personal effects is placed at $2,256.00, making the total appraised value of the estate $19,229.20. Much "No Value" Stock. The inventory shows, however, that a considerable amount of Kirlin's personal estate consisted of corporation stocks listed as of "no value." Among the stocks so listed is that of the Farmers Bank of Milton. Kirlin owned stock of the Farmers Bank of the par value of $1,000. Other stocks listed as valueless, with its par value, are the following: Reliance Refining company: Par value of the amount held, $2,000. Dixieland Oil company: par value of the amount held, $1,000. Rose City Oil company: par value of the amount held, $2,000. Chase Oil corporation: par value of the amount held $20. Interstate Petroleum company: par value of the amount held, $800. General Appliance company: par value of the amount held, $950. Total $7,770 "No Value" The total par value of the corporation stock held by the Kirlin estate which is listed as of "no value" is $7,770. It is also shown in the inventory that Kirlin held stock in the Doddridge-Beck company, a manufacturing concern in Milton, with a par value of $4,200. The appraised value of this stock is given as $1,290. Also included among the assets of the Kirlin estate is stock in two other corporations of a total par value of $1,900. but which shows an appraised valuation of $1,155. Kirlin held temporary receipts for notes of the Crow-Elkhart Motor corporation amounting to $6,000, bearing 8 per cent interest. These notes are appraised at $3,600. Had Promissory Notes assets are Included promissory among notes, the estate's one for $4,000 secured by mortgage, the others for relatively small amounts. Only one of these notes is listed as of no value. The total face valuation of these notes is $4,914.70 A life insurance policy for $5,000. which has been paid, is one of the largest items in the assets of the estate. It is also shown that Kirlin held half interest in the firm of Kirlin brothers, stock dealers. Four Liberty bonds of the fourth issue, each with a par value of $100 but appraised at $84.20, are held by the estate.

8. September 15, 1920 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, September 15, 1920

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OMER KIRLIN WILL REFUSE TO PAY BOND One of Sureties on Alleged Bond to Contest Payment of Receiver's Claim Against Him of $100,000. STOCKHOLDERS LIABLE Omer Kirlin, father of the late Oscar M. Kirlin, and one of the sureties on the bond his son is alleged to have given as cashier of the Farmers Bank of Milton, Ind., will refuse payment on the claim of $100,000 filed by Claude S. Kitterman, receiver for the bank, against Mr. Kirlin and the other alleged surety on the bond, the estate of the late Lycurgus W. Beeson. In filing claim for $100,000 against Mr. Kirlin and the Beeson estate the receiver alleges that the late cashier of the Farmers bank violated his bond in three particulars, that he appropriated to his own use in excess of $80,000 of the funds, bonds and notes of the bank; that he permitted insolvent customers of the bank to overdraw their checking accounts in excess of $10,000, and that he made loans in excess of $10,000 to persons whom Kirlin knew to be insolvent, the loans being advanced on unsecured notes or without sufficient security. Says Bond is Lost The receiver in submitting his claim against Kirlin's bondsmen admits that the bond alleged to have been executed by Kirlin has been lost or destroyed. The receiver has filed with his claim what he purports to be an accurate copy of the missing bond. The receiver has asked the author ity of the court to file suit, if necessary, to collect the claim entered ogainst the sureties on the "lost or destroyed" bond. Whether the Beeson estate will reject this claim has not been ascertained. It would occasion no surprise if such action was taken by the heirs of the estate. It is generally understood that Mr. Kirlin intends to contest the claim in the courts, if necessary, in which event the principal question involved would be the authenticity of the copy of the bond which the receiver has submitted as a duplicate of the original bond Oscar Kirlin is said to have executed to the Farmers' bank. Stockholders Liable In the event the receiver for the Formers' bank would be defeated in his efforts to collect the claim of $100,000, said to represent the bank shortage, from Kirlin's alleged bondsmen. the stockholders of the bank would then be liable for the full amount of the shortage, it is said. Stockholders of barks organized and incorporated under the banking laws of the state of Indiana are liable for double the amount of their stock holdings in the event of a bank failure. The organization of the Farmers' bank at Milton was a peculiar one, however. In reality it was a private, partnership enterprise, but organized as a stock company. As a partnership concern. it is stated, the stockholders of the Farmers' bank are, under the law, held responsible to meet the full amount of the shortage in the event the shortage is not recovered from the alleged bondsmen and from the estate of the former cashier, which consisted in great part of stock holdings inventoried as valueless or worth considerably less than par value.

9. September 25, 1920 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, September 25, 1920

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WILL REQUEST RECEIVER FOR MILTON FIRM Stockholder of DoddridgeBeck Company To File Petition Monday, His Attorney Says in Announcement. KIRLIN WAS AN OFFICER Petition for the appointment of a receiver for the Doddridge-Beck company, of Milton, manufacturers of grave decorations, capitalized for $125,000, will be filed Monday by Carlof a holder ton Chaney, in the Connersville, stockcompany, in Wayne circuit court, according to a statement made Saturday by Frank T. Strayer, one of Chaney's attorneys. The petition for a receivership for the Milton concern was originally filed late Friday afternoon, but was withdrawn shortly afterward before any summons had been issued. It was stated Saturday the petition was to be refiled Monday in more amplified form. No Statement Today It was not possible to obtain a statement Saturday in regard to the financial status of the DoddridgeBeck company, as to its assets and liabilities. At the time of his death last July, Oscar M. Kirlin, former cashier of the defunct Farmers' bank of that place, who committed suicide following discovery of the chaotic condition of the bank's affairs, was secretary-treasurer of the Doddridge-Beck company, a position he had held for over two years. Ask if he had any knowledge of mismanagement of the affairs of the Doddridge-Beck company on the part of Kirlin, Mr. Strayer replied that sensational disclosures would be made in the petition to be filed asking for the appointment of a receiver for the company. Deposited in Bank Last July James Daddridge, a stockholder in the grave decorating company, which is Milton's largest industry and its only factory, stated that the company intended to employ an expert accountant to go over the company's books. The company conducted its banking business at the Farmers' bank, and, it is stated, the failure of the bank has a direct bearing on the present financial condition of the Doddridge-Beck company. When an inventory and appraisement of the estate of the late Oscar M. Kirlin was filed in probate court a few weeks ago it was shown that the estate held stock in the DoddridgeBeck company of a par value of $4200. The value of the stock as appraised was $1,290.

10. December 22, 1920 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, December 22, 1920

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# Twenty Per Cent Milton Bank # Claims Ordered Paid by Court The Wayne county circuit court or- $59,959 on an overdraft of the Farm- dered payment of claims of depositors ers' Bank of Milton on the First Na- of the Milton Farmers' bank amount- tional bank of Connersville. These ing to 20 percent of the total claims, claims were assigned to the claimants following the filing of the report of and will be paid after the final pay- Claude S. Kitterman, receiver for the ment to depositors has been com- institution, Wednesday afternoon. pleted. The report shows that the claims Other large claims set aside to be filed total $317,155.29. Of this amount paid afterwards are those of Sarah F. $228,447 has been allowed. Expenses Hart, $11,000; Anderson and Sous of the receivership amount to $6,794. Grain company, $28,000; Washington The balance now on hand totals township, $11,000; and Wayne county, $44,841.90. $27,000. The order states that claims filed with the receiver for stock in the bank shall be settled after the first pay- ment to depositors has been made. It excludes from the first payment all depositors who are stockholders in the institution. Among the claims disallowed were: John Coyne, claims for $2.380, $2,520 and $2,014; the Doddridge-Beck com- pany, $2,500, $6,376 and $10.000; and two for Edward J. Weidner totalling over $45,000. Among the large claims filed against the bank were those totalling # Milne Will Review # Civic Needs Soon W. A. Milne, recently employed sec- retary for the Richmond Chamber of Commerce, will visit the city again before coming here to take up his work, Jan. 1, according to Walker Land, president of the organization. It was thought probable that Mr. Milne would arrive Wednesday, but he had failed to come at a late hour Wednesday afternoon. Mr. Land said Mr. Milne wanted to review the city situation as it relates to the Chamber

11. December 23, 1920 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, December 23, 1920

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Disallowed Claims of Milton Bank Form Basis For Suits suits. The various claimants and the Creditors whose claims had been disamounts claimed follow: allowed by Claude Kitterman, receiver for the Farmers' bank of Milton, filed C. W. Caldwell, $788.96; John Coyne, suits in circuit court Thursday, in ac$2,890.10; Margie I. Frazee, $500; Will cordance with an order by the court Hicks, $500; Emma B. Thornburg, which said that disallowed claims $1,000; Samuel V. Thompson, $50; Edwere to be declared as separate causes ward Fink, $50; Robert Callaway, on the issue docket and to be disposed $1,606.87; J. W. Doddridge, $4,000; Edof according to law. gar C. Denny, $100; Charles Callaway, The amounts named in the suits $200; Malinda S. Barton, $479.80; Benrange from a few dollars into the jamin Miles, $50; Cora Kellam, $100; thousands. The largest amount is John Kellam, $100; Sarah Meehan, that of the claim of County Treasurer $200; Jesse Huddleston, $50; Ann Edward J. Weidner, who claimed $45,Emma Moore, $1,021; H. R. Manlove, 870. Claude Kitterman, receiver, is $50; J. Katherine Thompson, $50; named as the defendant in all the Mary J. Borders, $37; Edna Squier, $128; Kirlin Bros. $1,468; Mrs. H. R. Manlove, $56; Charles Shank, $113.86; JUDGE BOND DECIDES James Ferguson, $125: Milton Booster club, $915; Harry C. Murley, $393; Van Crawford, $408; Mina S. ClevenHISTORIC LAND CASE ger, $50; Elmer Little, $,000; John T. Connell, $2.578; Robert A. Connell, Decision in the case of Mary Sulli$6,408, $1,350 and $404; John Faucett, van vs. Alfred Henderson handed $550; Watson Faucett, $784; Emma down by Judge Bond in circuit court More, $725.14: Bankers' Law PublishThursday morning, brought to a close ing company, $50; Mary Sills, $195; a suit that had lasted 10 years, been Hattie Sills, $168; Edward J. Weidner, argued in three counties, and had $45,870 and $295; Doddridge-Beck comcome up before two judges in this pany, $6.376. $2.500 and $10,000. county. "I have nothing to say for publicaIn his decision, Judge Bond, declartion in regard ato that matter" said ed the defendant the owner of the Claude Kitterman, when questioned property in dispute and the plaintiff Thursday as to why the claims of certain creditors had been disallowed. was ordered to pay the costs of the suit There will be no deferred payment on the accounts of Sarah Hart, AnderThe case started over the disputed ownership of some land valued at son and Sons, Washington township about $20,000 in Union county. The and Wayne county, the receiver said case had been argued in Union, Thursday. These claims were allowed with the others and through an error Fayette, and Wayne county courts. Major Stanford, an attorney from were published as slated for deferred Liberty represented the defense. payment.

12. March 19, 1921 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, March 19, 1921

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MILTON RESIDENT SUES BANK RECEIVER Alleging that partners in the Farmers Bank of Milton knew that Oscar M. Kirlin, deceased cashier, was dishonest and unreliable two years previous to the time of his death, William Hicks, of Milton. filed suit against Claude S. Kitterman, receiver for the defunct bank, to collect a $500 Fourth Liberty loan bond, interest and costs in Wayne circuit court Saturday morning. Ray K. Shively, attorney for Mr. Hicks. obtained permission to sue the receiver from Judge Bond Friday afternoon. The complaint is filed in three paragraphs charging conversion. The first states that the bond was placed in the bank on October 18, 1918 and the same has not been returned to the plaintiff. The second paragraph alknew that Kirlin was dishonest and alleges that the partners in the bank unreliable but notwithstanding this knowledge the partners negligently continued to keep him as cashier. The third paragraph charges carelessness and negligence on the part of the partners and asks proper relief for the plaintiff, Mr. Hicks.

13. April 2, 1921 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, April 2, 1921

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# Circuit Court Docket # Called Next Tuesday Calling of the circuit court docket will be held next Tuesday, the second day of the April term of court, according to an announcement made by Judge Bond Saturday. The new court calendar for the April term has 297 civil cases listed. Fifty-nine divorces are in this number. Forty-six cases are still pending against Claude S. Kitterman, receiver for the Farmers bank of Milton.

14. April 7, 1921 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, April 7, 1921

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# RECEIVER OF MILTON # BANK SUES FOR $2,500 Suit for $2,250 on promisory notes and overdrafts was filed by Claude S. Kitterman, receiver for the Farmers bank, of Milton, against William H. Miller, of Milton. in Wayne circuit court Thursday morning. The complaint is prepared in five paragraphs. The first three are for promissory notes, and the others for accounts due and overdrafts. According to the complaint notes for $115.92, $418.95, and $183.82 are now due with interest and an overdraft of $958.55 with interest is to be collected. The attorney's fees and interest bring the total amount to $2,250. Five suits that had been filed against Mr. Kitterman, as receiver for the defunct bank, on claims that had been disallowed by him, were dismissed at the costs of the defendant in Wayne circuit court Thursday morning. These were the suits of the Doddridge-Beck company; Charles H. Shank, on demand of $113.86; Mary J. Borders, demand of $37.02; James Ferguson, claim $125; and Banker's Law publishing company, claim $50.

15. April 23, 1921 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, April 23, 1921

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Circuit Court Ethel Lewis, of Muncie, was fined $25 and costs and sentenced to 30 days at the home for friendless women, on a statutory charge. filed in city court Saturday by Elsie Wilson, of Muncie. Charles Wilson. of Muncie, escaped from the city after Miss Lewis, with whom he had been living, had been arrested. Julia Gillom. colored. was granted a divorce from George Gillom in Wayne circuit court Saturday morning. Abandonment was alleged in the complaint. Two claims against Claude S. Kitterman. receiver for the Farmers' bank of Milton, were dismissed at the costs of the defendant in Wayne circuit court Saturday morning. The claim of Kirlin Brothers for $1468.91 was disallowed and a claim for $1415 was allowed. The claim of Edna Spuier for $128.19 was disallowed and applied on a note.

16. July 22, 1921 Indiana Daily Times Indianapolis, IN
Article from Indiana Daily Times, July 22, 1921

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Right DEFUNCT BANK PAYS DIVIDEND Farmers at Milton to Disburse 5 Per Cent. Special to The Times. RICHMOND, Ind., July 22.-Creditors of the Farmers Bank at Milton, Ind., will receive a further dividend of 5 per cent, according to an order issued by Judge William A. Bond, of Wayne Circuit Court, yesterday. The order was issued after the acceptance of a partial report of Claude S. Kitterman, Cambridge City, receiver for the defunct institution. The bank was closed after the cashier, Oscar M. Kirlin, took his own life last summer just before a considerable shortage was found in the furds of the bank. Claims amounting to $287,946.89 for certificates, checking accounts and Christmas savings accounts have been filed with the receiver. Of this amount obligations for just and valid claims that have been allowed amount to $226,234.68. There is now $38,414.14 to be distributed among the creditors of the institution.

17. August 22, 1921 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, August 22, 1921

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CONNERSVILLE BANK SUES FOR $11,274 Actions to collect on notes trans ferred by the Farmers' bank of Milton to the First National bank of Connersville were started in Wayne circuit court Monday, when 10 suits, aggregating $11,274.06, were filed by the Connersville bank against the executors of the notes and Claude S. Kiiterman, receiver for the defunct bank The complaints state that the notes which were purchased by the plaintiff, have not been paid and ask the value of the notes, plus interest, attorney's fees and contingent costs. The complaints are filed against th following persons: Charles Dailey. $1,324.06; John T. Connell, $600: Jacob Schneider, $625; Park M. Man love, $1,525; Elmer Lowry, $350; Herman and Charles Wolford, $1,625; The Doddridge-Beck company, $3,000; Nora B. Scott, $1.300; Vesper B. Richardson, $400; and Ozro Dailey, $525.

18. August 27, 1921 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, August 27, 1921

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MILTON BANK FAILURE RESULTS IN FILING OF 84 ACTIONS IN WAYNE CIRCUIT COURT Eighty-four cases have been filed holders in the bank, which was a private institution. Two direct suits to Wayne circuit court in connection collect from the receiver on money with the failure of the Farmers' bank deposited with the bank have been of Milton. Several more will probstarted. ably be added to this list soon, as Start 23 Actions. depositors are now starting action diDuring the past two months 23 acrectly against the stockholders to coltions have been started. Efforts to lect their money. collect money deposited in the bank The first case against the bank was directly from the stockholders has filed on July 6, 1920. This was two been made in 12 cases now before the days following the suicide of Oscar M. court. Kirlin, cashier of the bank. The bank The First National bank of Connersdid not open its doors on July 6 and ville has brought action in 11 inaction was started by George C. stances against executors of notes and Florea et al vs. Farmers' bank of Milthe receiver for the Milton bank, to ton and Irvin J. Harmeier, adminiscollect sums due it on notes sold betrator of the estate of Oscar M. fore the bank failed. Kirlin. The reports filed by the receiver at Appoint Receiver different times during the past year Immediate appointment of a receivare volumnous. These have lists of er was asked and Claude S. Kitterman all claims allowed and disallowed, toof Cambridge City was appointed to gether with settlements made thus take over the affairs of the defunct far.

19. August 27, 1921 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, August 27, 1921

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Eighty-four cases have been filed in Wayne circuit court in connection with the failure of the Farmers' bank of Milton. Several more will probably be added to this list soon, as depositors are now starting action directly against the stockholders to collect their money. The first case against the bank was filed on July 6, 1920. This was two days following the suicide of Oscar M. Kirlin, cashier of the bank. The bank did not open its doors on July 6 and action was started by George C. Florea et al vs. Farmers' bank of Milton and Irvin J. Harmeier, administrator of the estate of Oscar M. Kirlin. Appoint Receiver Immediate appointment of a receiver was asked and Claude S. Kitterman of Cambridge City was appointed to take over the affairs of the defunct institution. It was estimated at that time that the bocks of the bank would show a shortage of $125,000. In trying to untangle the affairs of the institution the receiver has had considerable difficulty in selecting between claims. Fifty suits have been brought against the bank through the receiver to establish valid claims. Question Execution The execution of several notes has been questioned. Signatures on some of the paper held by the bank have been declared forged, by interested parties. Claude S. Kitterman, receiver, has brought seven suits to collect on notes held by the bank. One suit charging conversion was filed against the stock-

20. December 14, 1921 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, December 14, 1921

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ASK VENUE CHANGE IN KITTERMAN SUIT ON $100,000 BOND Motion for a change of venue from Wayne county circuit court was filed by attorneys for the plaintiff in the suit of Claude Kitterman against the estates of Lycurgus Beeson and Oscar Kirlin and against Omer Kirlin, late Tuesday afternoon. The suit is in the form of a claim against the defendants. Arguments by both sides will be heard in circuit court Thursday morning. The case will go either to Henry or Randolpn counties if taken from the local court. Upon the decision in this case rests the ownership of approximately $100,000 which Claude Kitterman, receiver for the Farmers' bank at Milton, claims was put up on a bond by the three defendants. Attorneys for the defense claim there was no such bond. Plaintiff alleges that the bond was filed July 5, 1910, by Oscar Kirlin, Omer Kirlin, Marquis and Lycurgus Beeson, for the safe performance of the duties of cashier by Oscar Kirlin.

21. July 21, 1922 The Richmond Palladium and Sun-Telegram Richmond, IN
Article from The Richmond Palladium and Sun-Telegram, July 21, 1922

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# CONNERSVILLE BANK # SUITS COMPROMISED Suits of the First National bank of Connersville against the Doddridge-Beck company and Charles S. Kitterman, receiver of the Farmers' bank of Milton, and of the Doddridge-Beck company against the Farmers' bank of Milton were compromised in circuit court Friday and a settlement by agreement reached. The suits were over notes of the Doddridge-Beck company, held by the Farmers' bank and the First National bank, of $3,500 and $3,960, and a check for $6,367.97, made by the company in favor of the Farmers' bank. By the terms of the settlement, the company is to receive the cancelled notes and the receiver of the bank is to accept the check.