Bank of Tocsin - Tocsin, IN

Episode Information

Episode UID: 71092471505
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 7109247 routing
Routing Number: 71-0924
Start Date: May 12, 1925
Location: Tocsin, Indiana (40.830, -85.109)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 276834bdfbcf98dd

Response Measures

None

Description

OCR errors in article corrected (e.g., 'Toscin' -> Tocsin).

Events (2)

1. May 12, 1925 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank was insolvent at time of suspension according to court finding
Newspaper Excerpt: which suspended business on May 12, 1925
Source: newspapers

2. April 26, 1930 Other

Newspaper Excerpt: Stockholders of the Defunct Bank of Tocsin ... an important decision handed down ... Stockholders ... held liable for the full amount of due deposits
Source: newspapers

Newspaper Articles (1)

1. April 26, 1930 Chronicle Tribune Marion, IN

Article from Chronicle Tribune, April 26, 1930

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Article Text

STOCKHOLDERS LIABLE COURT DECISION BLUFFTON, Ind., April 26. Stockholders of the Defunct Bank of Tocsin which was organized private bank and which suspended business on May 12, 1925, were held liable individually and collectively for the full amount of due deposits an important decision handed down in the Wells county circiut here today by special Judge Lett of Marion, Ind. Judge Lett presided over the suit brought by of Toscin, depositor the defunct bank, against the bank's for judgment for $900 still due him his deposit in bank. The has paid only cents on the dollars to its In decision Judge Lett stockholders the bank were partners in the banking institution. angle the an fort make stockholders who posed of their stock previous to closing the bank liable that the bank was insolvent the time the stock transfer. court held in substance that former held liable only in the event of proof the of the bank time such stock transfer. such proof was attempted case and effect of court's finding today was against the record the time of the bank's suspension.