Henry County Bank (Spiceland, IN)

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Closed Spiceland Bank Receiver's Hands In the part of the many Efforts on the dozen stock and holders of the Henry County Bank Spiceland to bring about satisfacand avoid the costs tory liquidation failed, and, as receiver, John H. Morris, sequence Judge circuit appointed the Henry of New Castle, FriClaud Stanley, day as through the Later the day, delity Casualty and Stanley bond and provided took charge of the bank, lowing day been closed since the which has Haskett, its cashier. the complete satisfaction the court and all of the interested perof the attorbacked up by testimony from bank the insolvency institution Reof the was proven. ceiver Stanley faces deficit of practically This big deficit fall heavily upon the stockholders, them surrender of their personal real estate holdings to satisfy depositors. shock and terrific truly great Spiceland blow to the depositor The Banner on Monday he believed the institution would not better than than half dozen names rejected before were presented acceptance was made of that of Mr. Stanley.

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Closed Spiceland Bank in Receiver's Hands

(Knightstown Banner)

Efforts on the part of the many depositors and the half dozen stockholders of the Henry County Bank at Spiceland to bring about satisfactory liquida ion and avoid the costs of receiver have failed sequence Judge John Morris of the Henry Circuit Court pointed Claude Stanley of Newcastle receiver and Stanley provided bond of $25,000. The lowing day he took charge of the bank which has been closed since the suicide of Hasket cashier of the bank. To the complete satisfaction of court and all of the interested sons of the attorney general, backed up by the timony of bank examiners, the solvency of the institution was Receiver Stanley faces

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STOCKHOLDERS OF BANK SUED

Receiver in Newcastle Court.

Newcastle, Ind., May Stanley, receiver for the Henry County Bank at Spiceland, filed suit in Henry Circuit Court today against the stockholders of the bank. demanding $100,000. The complaint alleges that the bank is insolvent and the assets of are not sufficient pay the liabilities and that the stockholders be required to pay the amount necessary to make up the deficit which Mr. Stanley asserts will Ruth Lindstrom, of the will of Cory. Ruth Lindstrom, Walter Harvey, John Ratliff, Susanna Evans, John Jennie John Griffin, Frank Dillon, of the estate John Haskett, John Lyle Haskett. Melba Isora Powell and Eva Louise Haskett, are named fendants. alleged that April 19. 1933. the defendant John B. Greenstreet. eighty acres of land his wife, Mrs. Jennie Greenstreet. without any consideration and for the purpose of defrauding the creditors the bank. The court asked to set aside the deed that the real estate can be subjected to the payment of Greenstreet's share the liabilities of the bank. Relief Flour Is Received. carload of Red Cross flour Newcastle today and being the township This the fourth car flour received in the county The trustees are opinion that flour will be necessary for lief in the county before next fall The consignment today was shipped from Springfield, The state convention of Terre Haute opened Friday afternoon with devotional talk by Mrs. B. Ayres, of Newcastle This is the fourth time Mrs. Avers has been asked to open the state convention of the sisterhood. Sewer Repairs Progress Rapidly.

Work progressing rapidly in the repairing of collapsed portion the Bowery Brook sewer north Broad street. Four huge sections cement tiling were placed Friday. All the excavating has been completed and city engineer today that the work would be finished by first part of the week. Funeral services for Mrs. Emma Harwood. of Ashland, who died home that place this will at the First Church Newcastle, o'clock Sunday afternoon. Mrs. who 75 years of age, was the Mrs. Anna Runyan, the Rev ter of Leroy Mahoney and Joshua Mahoney, Newcastle Clarence will deliver the Memorial address The R. Smith post of the Legion will again sponsor weekly dances Memorial Park shelter house during the summer The opening dance will be given Tuesday evening. Connie Geisler and his orchestra will play program dance music. Eilar. county superintendent of schools, announced today that issued approximately fifty work permits to minors during the past three years.

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SUIT ASKS ORDER STOCK HOLDERS

Will Be Required to Make Up Deficit of Spiceland Bank Says Receiver.

Newcastle CourierTimes) Suit on the stockholders' liability has been filed by Claud Stanley. receiver for the Henry County bank at Spiceland. demanding $100,000 The suit is against Ruth H. Lindstrom. executor of the will of Virginia Cory. Ruth H. Lindstrom strom. Walter B. Harvey. John A. Ratliff. Susanna P. Evans. John B. Greenstreet. Jennie L. Greenstreet. John S. Griffin, Frank M Dillon, administrator of the estate of John C. Haskett Jonh Lyle Haskett. Melba Izora Powell and Eva Louise Haskett The complaint sets out the relations of the defendants to the bank. pointing out that the bank was a private bank. the partners having been Greenstreet. Griffin. Rateliff. Haskett and the late Mrs. Cory. The Cory estate and the Haskett estate are set out as defendants to answer to their interests.

The complaint alleges that the bank is insolvent and the assets not sufficient to pay the debts and liabilities. It is asserted that it is necessary that the individual partner be required to pay an amount necessary to make up the deficit. which the receiver asserts will be

It is alleged that on April 19, 1933. the defendant. John B. Greenstreet conveyed eghty acres of land to his wife, Mrs. Jennie L. Greenstreet conveyed 80 acres to Greenstreet without any consideration and for the purpose of defrauding the creditors of the bank. The court is asked to set aside the deed SO that the real estate can be subjected to payment of Greenstreets's share of his liability in the bank.

The suit was filed by Scotten and Hinshaw and Paul Brown. attorneys for the receiver.

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SUIT ASKS ORDER STOCK HOLDERS

Will Be Required to Make Up Deficit of Spiceland Bank Says Receiver.

(Newcastle CourierTimes) Suit on the stockholders' liability has been filed by Claud Stanley, receiver for the Henry County bank at Spiceland, demanding $100,000. The suit is against Ruth H. Lindstrom, executor of the will of Virginia Cory, Ruth H. Lindstrom, strom, Walter B. Harvey, John A. Ratliff, Susanna P. Evans, John B. Greenstreet, Jennie L. Greenstreet, John S. Griffin, Frank M. Dillon, administrator of the estate of John C. Haskett, Jonh Lyle Haskett. Melba Izora Powell and Eva Louise Haskett. The complaint sets out the relations of the defendants to the bank, pointing out that the bank was a private bank, the partners having been Greenstreet, Griffin, Ratcliff, Haskett and the

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Bank Receiver Is Plaintiff in Action in Newcastle Court

June Claud Stanley, receiver the Henry county bank Spiceland, Ind., filed petition Henry circuit for the termining what interest Luther Draper Allen Butler have certain bonds, certificates the bank marked their property the John Haskett, prior his recent suicide, cashier of the institution. Some the and dethe bank that the bank. clear receiver to Judge Morris has designated 10 the date of hearing.

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COURT SETTLES

Decision in Favor of Draper at Newcastle.

Newcastle, Ind., July declsion announced by Judge John Morris in Henry Circuit Court this morning, certificates of deposit and securities left in the Henry County Bank Spiceland by John Haskett, former cashier of the institution, belong Luther Draper, of Spiceland. The case has court several weeks. Following the of Claud Stanley of defunct Spiceland Mr. petitioned the court to decide the ownership of left in the bank. Haskett, before his death, written note, declaring that certificates were property of Draper and should not the bank's decision today Judge Morris pointed out that the and been kept in special fund and had never been listed the bank's assets. Under the finding Draper will turn over the bank the ceipts for these certificates of deposit and will receive the securities face value $70,000. The certificates deposit amounting to $114,000 make Draper general creditor of the bank.

Club Organized. Mrs. Paul Miller, of Mt. Summit, elected president of the ganized Henry County Women's Republican Club, which met at Memorial Park Friday night Other officers elected Mrs. Will Lawless, vicepresident: Mrs. Floss Crum, secretary and treasurer. Practically every townthe county Luther Draper, of Spiceland, and Evans, Newcastle, and Robert Hunter, of Newcastle, gave addresses. Representatives of the county will in Newcastle Tuesday to take part organization meeting to secure wheat acreage reduction in order that farmers may benefit from the government fund being raised through the tax. county organization will be formed and thought this organization include the separate township units. Former Resident Succumbs. Mrs. Ellen Bell, former resident Newcastle, died Friday morning the home of her son, H. Bell, in Kokomo. She had been ill some time, suffering from complication of disShe was the widow of Needham Bell. who died five years ago. She survived by son and one daughter. Mrs. Ora Watkins, Everett Washington rion. correspondent of The Muncie Star, grandson. Funeral services will conducted in Kokomo Sunday afterFuneral services for John Sutherfor twelve years supervisor the boys' colony of the Indiana Village, to be o'clock are Monday afternoon the First ChrisChurch in Burial will the Garland Brook Cemetery there. Alva Shotts, living on South Seventeenth street. was tried in City Court this morning on charges of assault and He alleged to have struck Shoopman. Mayor Sidney Baker fined him $15. To Address Protestant Churches. Hastings Abanda, native of Nyaasaland. Africa, will speak at the meeting of all-protestant churches at the Sunday night. His subInfluence of Missions My Country. He is student Meharry Medical College Nashville, Tenn. He will complete both medical and college education and then turn own country teacher and physician. Catherine Coolman and Paul Clark. of Salt Lake City, Utah, were united in marriage the First Presbyterian Church Friday afternoon The ceremony was read by the Rev. Paul E. Spurgeon, pastor of the church. Kinsey Davis. of Oakgrove, appeared City Court this morning in answer charges of assault and battery. He alleged have engaged in altercation with his wife. Mayor Sidney Baker fined him $15. Wheat selling in Newcastle today for per bushel. This price paid one the elevators and claimed to be the highest price in four Henry County farmers small acreage this year. about 600 farmers having any wheat in.

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Condition of Bank at Spiceland Will Be Investigated

NEW CASTLE, Ind., April After the elapse of more than year, the condition of the Henry County bank, located at Spiceland, will be investigated by the April session of the Henry grand jury. During the bank holiday of last March, following the suicide of John Haskett, cashier, the bank suspended operation. The institution is now in the hands of receiver. Judge John Morris called the members of the grand jury together today and Informed them that the bank investigation was only matter of routine business. report was circulated that the affairs the Lewisville bank may also be investigated. The Lewisville bank failed following disappearance of Hawley Hall, cashier. Mr. Hall was also member of the Hencounty board of commissioners at the time of his disappearance.

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BANK FAILURE TO BE PROBED

Receiver Now Is Operating Spiceland Institution.

Newcastle, Ind., April 14.-After an elapse of more than a year, the failure of the Henry County Bank, located at Spiceland, will be investigated by the April session of the Henry County grand jury. During the bank holiday of last March, following the suicide of John C. Haskett. cashier, the bank suspended operation. The institution is now in the hands of a receiver. Judge John Morris called the members of the grand jury together today and informed them that the bank investigation was only a matter of routine business. A report was also circulated that the affairs of the Lewisville bank, may also be investigated. The Lewisville bank failed following the disappearance of Hawley Hall, cashier. Mr. Hall was also a member of the Henry County board of commissioners at the time of his disappearance. Mrs. Minerva Edwards, died at the home of her daughters, Mrs. Maud Swain and Mrs. Esther Robinson, 806 West Broad street, this morning, on her ninety-first birthday anniversary. She was born in Newcastle, April 14. 1845. and had lived in Henry County all her life, residing in Cadiz and Spiceland, returning to Newcastle for residence twenty-five years ago, following the death of her husband. Besides the daughters at whose home she died. she is also survived by another daughter, Mrs. Cora McCarty Funeral services will be conducted at the late home at 3 o'clock Monday afternoon and interment will be in Southmound Cemetery. Republican Club Meet Postponed. The meeting of the Henry Township Republican Club, scheduled to meet at the Citizens State Bank building last night, was postponed because of the death of William Risk. The meeting will now be held next Friday night. George Barnard, Indianapolis attorney, will deliver an address. Final arguments in the injunction suit of the Public Service Company of Indiana against the city of Newcastle will be presented on next Friday. The case was to have been held today but owing to a case in session in Decatur Circuit Court today. Judge John Craig. of that court. acting as special judge in the injunction suit, was unable to be in the local court today. Milo Burcham. who has twice succeeded in winning the world's record for up-side-down flying. arrived in Henry County this week and will spend several weeks at the home of his grandparents, Jacob and Mrs. Muterspaugh. at Sulphur Springs. Young Burcham attained his record in an inverted flying test on the Western coast, while operating training school at Long Beach, Cal. Burcham attended high school in Newcastle and is well known here. Mrs. Zona Withers Dies. Mrs. Zona Withers, 37. wife of Luther Withers, died Friday night at the Newcastle Clinic. She is survived by the husband. two daughters, Gladys and Christine Withers: her mother. three sisters and four brothers. Funeral services will be conducted at the Nazarene Church at 2:30 o'clock Sunday afternoon, and burial will be in Southmound Cemetery. Police were investigating the robbery of the Cities Service Company bulk station plant, located near the bridge factory, some time during the night. Entrance to the building was gained by breaking lock on the door. The tank lock was also broken and 100 gallons of gas was drained from the tank, Ten gallons of grease was also stolen. Funeral services for William L. Risk. Henry County citizen, who died at his home on South Fourteenth street, Friday afternoon, will be conducted at the late home at 2:30 o'clock afternoon, with the Rev. F. E. Fribley, pastor of the First Methodist Church, officlating Burial will be in Southmound Cemetery. Roscoe Clark. Alonzo Clark and Zola Mason, Newcastle residents, were treated at the Newcastle Clinic last night for injuries received when the automobile in which they were riding crashed into a bridge north of the infirmary Roscoe Clark was driving the machine, which was badly damaged.

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BANK RECEIVER TO PAY DIVIDEND

Spiceland Depositors Will Get Another 10 Per Cent.

Newcastle, Ind., July 13.-Distribution of $40,000, representing a 10 per cent dividend for the depositors of the defunct Henry County Bank, at Spiceland, will be started July 20, Claud Stanley, receiver, announced today. The money will be available at his office in Newcastle and no checks will be mailed. This is the second dividend of 10 per cent to be paid by the receiver, the first $40,000 having been distributed last December 20. As to the future the receiver is uncertain. He has approximately $30,000 coming in shortly from home owners' corporation bonds and may be able to pay another 10 per cent within a short time, but beyond this the payments are expected to be small and far apart. The bank was closed in March, 1933. following the suicide of its cashier, C. Haskett Village Wheat Yield High. The Indiana Village for Epileptics, which consistently gets high yields per acre for its crops, has completed the harvest of its wheat which showed a yield of thirty-three bushels to the acre. The wheat from its three fields totaled 3.670 bushels and it all tested sixty pounds to the bushel. Part of the wheat will be made into flour and some of it will be fed to live stock Paul Brown, Newcastle attorney, has been named federal conciliation commissioner for Henry County by Baltzell. of the Federal Court in Indianapolis. The conciliator is named under a new federal law designed to aid farmers in avoiding bankruptcy, the commissioner acting in cases where fifteen or more farmers band together to seek an agreement among their creditors. Sixteen girls have signed up to attend Camp Tecumseh, the state M. C. A. camp near Delphi for the older girls' camp. August 19-26, Miss Elizabeth Phillips, in charge of registrations, said today. The annual picnic of the Elks Lodge will be held Sunday at the Millikan grove, east of the city The Hillsboro Church of Christ will hold an all-day meeting Sunday one of the features being a song service in the afternoon which had been planned by the Rev. Frank B. Elmore of Covington, short time before his death, two weeks ago The program will be given as planned A quartet from Covington will appear on the program. A special traction car carrying fifty Democrats left here this afternoon for Indianapolis, where the party attended the dinner given for PostmasterGeneral Farley.

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SHAREHOLDERS ARE SUED AT SPICELAND

Suit Asking Court to Enforce Stockholders' Liability Is Filed in Henry Circuit Court

Stockholders of the defunct Henry County Bank, of Spiceland, were named defendants in a suit filed in the Henry circuit court at New Castle last week. The sum of $260,000 is demanded in the complaint prepared by William A. Hughes, Greenfield attorney.

The complaint follows closely the decision of the supreme court in holding the shareholders of a private bank fully liable. The demand is based on 70% of the amount of money on deposit when the bank suspended business. Dividends totaling 30% have been paid.

The plaintiffs in the action are Earl P. Antrim, Henry J. Foster, Quincy Darling, R. Perry Hodson, Otho Poer, Lloyd P. Huff, David H. Delon and Ernest Deen.

The defendants are listed as John S. Griffin, John A. Ratliff, Ruth H. Lindstrom, executrix of the estate of Virginia Cory, deceased; Ruth H. Lindstrom, Walter B. Harvey, Susanna P. Evans, John B. Greenstreet, Jennie L. Greenstreet, Frank M. Dillon, administrator of the estate of John C. Haskett, deceased; John Lyle Haskett, Melba Izora Powell, Eva Louise Haskett and Luther O. Draper.

The complaint avers that when the bank closed on March 17, 1933, the stock was owned as follows: William L. Cory, 15 shares; Susanna P. Evans, 3; John A. Ratliff, 6; John Greenstreet, 11; John S. Griffin, 33, and J. C. Haskett, 32. The complaint asserts that Draper is made a party to the action because he was a silent partner of Haskett, and as such was "the predominant owner of a large part of the assets."

It is alleged that when the bank closed, the plaintiffs and other depositors had on deposit the sum of $371,026.10, including $43,211.65 of public funds. It is pointed out that the receiver has paid dividends amounting to 30 per cent and judgment is asked for the remaining 70 per cent. The 70 per cent of the $371,026 alleged on deposit would make a total demand of $260,000.