State Bank (Uniondale, IN)

Episode Information

Episode Type
Run → Suspension → Closure
Start Date
February 13, 1929
Location
Uniondale, Indiana (40.831, -85.242)
Bank Type
state
Routing Number
71-0929

Metadata

Episode ID
Bank ID
City ID
180445136
Model
gpt-5-mini
Short Digest

Notes

Receivers' petitions were filed and articles describe the bank as failing/insolvent.

Events (3)
1. February 13, 1929 Run
Cause
Local Banks
Cause Details
Runs triggered by failure/closing of the Wells County Bank that spread to other county banks, including Uniondale
Newspaper Excerpt
the Wells County bank ... caused runs on the other banks in this county that forced three other banking institutions to close their doors today. The three other Wells county banks that closed their doors in rapid succession today, were: The Uniondale State bank at Uniondale
Source
newspapers
2. February 13, 1929 Suspension
Cause
Local Banks
Cause Details
Heavy withdrawals/pressure after other Wells County banks failed, forcing Uniondale to close
Newspaper Excerpt
Following the closing of the Wells County bank ... several hours later, the Uniondale State bank ... forced that institution close its doors.
Source
newspapers
3. February 14, 1929 Receivership
Newspaper Excerpt
petitions asking that receivers be appointed for the Wells County State Bank, of Bluffton, and the State Bank of Uniondale, two of the institutions that closed.
Source
newspapers

Newspaper Articles (16)
1. February 13, 1929 The Times Hammond, IN
Article from The Times, February 13, 1929

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Article Text

TWO MORE WELLS COUNTY BANKS CLOSE NEWS SERVICE BLUFFTON, Ind., Feb. mad that started with the Wells County State bank, $1,250,000 institution here, caused runs on the other banks in this county that forced three other banking institutions to close their doors today. The three other Wells county banks that elosed their doors in rapid today, were: Uniondale State bank at Uniondale, 10 miles north of Bluffton. The Liberty Center State bank Liberty Center, 10 miles west of Bluffton. The Bank Petroleum, 10 miles Bluffton. afternoon only four banks left open in Wells county. were: The Union Savings and Trust Ossian State Bank. Craigville State Bank. The Poneto State Bank. The state banking department understood rushing men here to control the situation.

2. February 13, 1929 The Times Hammond, IN
Article from The Times, February 13, 1929

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TWO MORE WELLS COUNTY BANKS CLOSE [INTERNATIONAL NEWS SERVICE] BLUFFTON, Feb. mad that started with the the Wells County bank, $1,250,000 institution here, caused runs on the other banks in this county that forced three other banking institutions close their doors today. The three other Wells county banks that closed their doors in rapid succession today, were: The Uniondale State bank at Uniondale, 10 miles north of Bluffton. The Liberty bank at Liberty Center, 10 miles of Bluffton. The Bank of Petroleum, 10 miles Bluffton. This only four banks were left open in Wells county. They were: The Union Savings and Trust company of Bluffton. The Ossian State Bank. The Craigville State Bank. The Poneto State Bank. The state banking department was understood to rushing men here to control the situation.

3. February 13, 1929 The Times Hammond, IN
Article from The Times, February 13, 1929

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Article Text

RUN CLOSES SECOND BANK BLUFFTON, Ind., -Following the closing of the Wells County bank, $1,250,000 institution here today, hours the Uniondale State $225,000 at forced that stitution close its doors. Palmer took the affairs the Uniondale bank.

4. February 13, 1929 The Times Hammond, IN
Article from The Times, February 13, 1929

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Article Text

RUN CLOSES SECOND BANK BLUFFTON, Ind., Feb. -Following the closing the Wells County bank, $1,250,000 institution here today, several hours later, the Uniondale State bank, $225,000 bank at Uniondale, ten miles west of here, forced that stitution close its doors. Palmer Ice, bank examtook charge of the affairs of

5. February 13, 1929 The Times Hammond, IN
Article from The Times, February 13, 1929

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RUN CLOSES SECOND BANK BLUFFTON, Ind., Feb. the the Wells County bank, $1,250,000 institution hours Uniondale State bank, $225,000 bank at Uniondale, ten miles here, forced that institution close its doors. Palmer Ice, examtook charge of the affairs of the Uniondale bank.

6. February 14, 1929 Leader-Tribune Marion, IN
Article from Leader-Tribune, February 14, 1929

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Have Asked for Receiver lowing the closing of four wells county banks today Luther F. Sy mons, state bank commissioner, ap peared in circuit court here this afternoon with two petitions asking that receivers be appointed for the Wells County State Bank, of Bluff ton, and the State Bank of Union dale, two of the institutions that closed The Bank of Petroleum and the Liberty Center State Bank also suspended operations. The petitions set out that exby the banking depart ment showed the Wells County State Bank and the State Bank of Uniondale are "in failing and insolvent Judge A. W. Hamilton set Feb 21 as the dathe for hearing on the petitions. The Wells County State Bank did not open for business today, and shortly after non the three other banks, which cleared through the Bluffton institution, also closed their doors. The Wells County Bank was capitalized at $100,000 and showed deposits of $1,250,000 E. B. Williamson is president R. S. Morrow, first vice-president: Frank Waugh, second vice president, and R. N. Fitzpatrick cashier. The bank was closed by Thomas Barr, examiner The capitalization of the Uniondale Bank was $25,000 and deposits were $200,000. H. W. Lipkey is president and W. A. Brickley cashier. The Union Savings and Trust Company now is the only bank in failed in 1927. deposits of $1,500,000. Receivers as yet have made no payments on deposits.

7. February 14, 1929 The Messenger Madisonville, KY
Article from The Messenger, February 14, 1929

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BANKS CRASH AFTER RUNS TAKE FUNDS Six Indiana Institutions Topple and Receivers Are Sought. BLUFFTON, Ind., Feb. Union Savings Trust Company, the only remaining bank in Bluffton, closed this morning after $500,000 run yesterday. The Farmers Deposit Bank of Montpelier closed due, was said here, to $500,000 run yesterday. Four banks Wells county closed yesterday. President Fred of Tangeman, the Union Savings Trust Company, said his bank was solvent, and he hoped to reopen the institution after the usual sixty days for reorganization. Insolvent, Claim. Following the closing of four Wells county banks yesterday, Luther Symons, state bank commissioner, appeared in circuit court with two petitions asking that receivers be appointed for the Wells County State bank, of Bluffton, and the State Bank of Uniondale, two of the institutions that closed. The bank of Petroleum and the Liberty State bank also suspended operations. The petitions set out that examinations by the banking department the Well County State bank of Uniondale failing and insolvent Judge W. Hamilton set February 21 as the date for hearings on the petitions. The Wells bank County was capitalized at $100,000 and showdeposits of $1,250,000. The Union Savings and Trust company now is the only bank in Bluffton. The Studebaker bank failed in 1927, with deposits of $1,500,000. Receivers as yet have made no payments on deposits.

8. February 14, 1929 The Republic Columbus, IN
Article from The Republic, February 14, 1929

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Article Text

FIFTH BANK TO FAIL IN WELLS COUNTY Bluffton Institution, Also One Near Blackford Border, Closed Today. HEAVY RUNS ARE CAUSE OF UNION TRUST CO. HOPE TO REOPEN AFTER THEY Ind., Feb. Union Savings Trust the closed its doors this after $50,000 yesterday. The Deposit Bank on the county line, also closed this morning, said to an $18,000 yesterday. Four banks in county closed yesterday. Fred Tangeman, president the Union Savings Trust Co., Thomas Barr. examiner, the closing was due the bank and that institution solvent. Officers directors said they expected take advantage of the permitted by law to reorganize, hoped re-open. Union ings Trust had deposits of $800,000. Yesterday the Wells County State bank, with deposits of 000, closed. few hours later, the state bank Uniondale closed. Petitions were filed in the circuit court asking receivers for both banks, alleging they were "failing and condition." The of Petroleum and the Liberty Center state bank closed yesterday. The three smaller banks cleared through the Wells county bank. The Farmers Deposit Bank Montpelier had deposits of approximately $500,000. The state banks at Poneto and Craigville and Farmers State bank at Ossian, other the open. The Zanesville State Bank the Harkle State Bank, line,

9. February 14, 1929 Evening Star Washington, DC
Article from Evening Star, February 14, 1929

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$50,000 RUN CAUSES BANK TO CLOSE DOORS Bluffton, Ind., Officers Hope to Effect Reorganization Within Sixty Days. By the Associated Press. BLUFFTON, Ind., February 14.-The Union Savings & Trust Co., the only remaining bank in Bluffton, closed its doors this morning after a $50,000 run yesterday. The Farmers' Deposit Bank of Montpelier, on the Wells-Blackford County line, with deposits of $500,000, also closed this morning, due, it was said, to an $18,000 run yesterday. Four banks in Wells County closed yesterday. Fred J. Tangeman, president of the Union Savings & Trust Co., and Thomas Barr, State bank examiner, said the bank was solvent. Officers said they expected to take advantage of the 60 days permitted by law to effect a reorganization and then hoped to reopen. The bank had deposits of approximately $800,000. Yesterday the Wells County Bank, with deposits of $1,250,000, was closed. A few hours later the State Bank of Uniondale closed. Petitions were filed in Circuit Court here asking for receivers for both institutions, alleging they were "in a failing and insolvent condition." The Bank of Petroleum and the Liberty Center State Bank also closed yesterday. The three smaller banks cleared through the Wells County bank.

10. February 14, 1929 The Richmond Item Richmond, IN
Article from The Richmond Item, February 14, 1929

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dale, two of the institutions that closed. The bank of Petroleum and the Liberty Center State bank also suspended operations. The set that examinations by the department showed the County State bank and the State bank Uniondale are "in a failing and insolvent condition.' Judge A. W. Hamilton set February 21 the date for hearings on the petitions. The Wells County bank was capnot open for today, shortly afternoon the three banks, which through the Bluffton institution, also closed their doors. The Wells county bank was cap- italized at $100,000 and showed deposits of $1,250,000. B. Williamsson is president; R. Morrow, first vice president; Frank Waugh, second vice R. N. Fitzpatrick cashier. The bank was closed by Thomas Barr, The capitalization the Uniondale bank was $25,000 and deposits were $200,000. H. W. Lipkey is president and W. A. Brickley cashier. The Union Savings Trust company now is the only bank in Bluffton. Studebaker bank failed 1927, with deposits of $1,500,000 as yet have made no payments on deposits. Snakes, contrary to common be lief cannot sting-but some can bite.

11. February 14, 1929 The Star Press Muncie, IN
Article from The Star Press, February 14, 1929

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BANKS CLOSED Receivers Are Asked Two Institutions. Bluffton, Ind., Feb. 13 closing four Wells County Luther Symons, state bank appeared in Cirhere this afternoon with asking that receivers be appointed for the County State of Bluffton, and the State Bank Uniondale, two of the institutions closed. Bank Petroleum and the Liberty Center State Bank Hearing on Petitions Feb. 21. The petitions out that examinadepartment the Wells County State Bank State failing and condiJudge Hamilton set February the date for hearing on the The Wells County State Bank did open today. and shortnoon three other cleared through the Bluffton institution, also closed their doors. Bluffton Left With One Bank. Wells County Bank was $100,000 and showed Williamson Morrow, first vicepresident; Frank Waugh, second and Fitzpatrick, cashier. bank closed by examiner. The the Uniondale Lipkey president The and Trust ComBluffton. Studebaker Bank failed in 1927, deposits made payments on Bank May Be Reopened Soon. The Liberty Center State Bank closed doors about noon with consent Deputy State Bank Commissioner Barr. and hopes reopen for busiwithin few days. This bank to wholly solvent and closing give public citement time allay fears about Center started on the bank that reached close the bank temporarily consent given by department. Hope Pay Dollar for Dollar. The Wells Bank, closing of which started the and run closed three other banks has expressed hope that depositors will fully 100 cents dollar. Waugh stated Continued Second Page.

12. February 14, 1929 The Evening Sun Baltimore, MD
Article from The Evening Sun, February 14, 1929

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$50,000 Run Closes Another Indiana Bank Only Remaining One In Bluffton Shuts Doors-Four In Wells County Closed Yesterday Union Savings and Trust Company, the only remaining bank in Bluffton. closed its doors this morning after $50,000 run yesterday. The Farmers Deposit Bank. Montpelier, on the Wells and Black ford counties line with deposits of $500,000. also closed this morning. due. it was said. to an $18,000 run yesterday. Four banks in Wells county closed yesterday. Fred J. Tangeman, president of the Union Savings and Trust Company, and Thomas Barr, State Bank Examiner, said the bank was solvent. The officers expect to reorganize. Yesterday the Wells County Bank, with deposits of $1,250,000 closed. A few hours later the State Bank of Uniondale closed. Petitions

13. February 14, 1929 The Huntington Press Huntington, IN
Article from The Huntington Press, February 14, 1929

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BANKS CLOSED IN WELLS COUNTY BLUFFTON, Ind., Feb. four Wells Following the closing county banks today Luther F. Symons, state bank appeared circuit court here this afternoon with two peittions asking that receivers appointed for the Wells County State of Bluffton, and the State Bank Uniondale, two of the institutions that closed. The Bank of and the Liberty Center State bank also suspended operations. The petitions out that examinations the banking department showed the Wells County State bank and the State Bank of Uniondale are "in failing and incolvent condition. resudge W. Hamilton set Feb. 21 the date for hearings the petiWells County State bank did not for business shortly the three other banks, which cleared through the Bluffton institution, closed their doors. Wells County bank was capital$100,000 showed deposits $1,250,000 E. B. Williamson is presR. S. Morrow first Frank Waugh, second and R. N. Fitspatrick cashier. The bank was closed by Thomas Barr, excapitalization of the Uniondale bank was $25,000 deposits were $200,000. H.W. Dipkey is president and W. Brickley caishier. The Union Savings and Trust Company now is in Bluffton. The Studebaker bank in 1927, with deposits of $1,500,000. Receivers have made no payments on de-

14. February 14, 1929 The Call-Leader Elwood, IN
Article from The Call-Leader, February 14, 1929

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RECEIVERS ASK FOR WELLS COUNTY BANKS Bluffton Ind., Feb. 13.-Receivers were sought for the Wells County State Bank of Bluffton and the State Bank of Uniondale in a petition here today. The petition was filed by Luther F. Symons, state bank commissioner, following the closing of four Wells county banks today. The petition was filed in Circuit court by Mr. Symons The Bank of Petroleum and the Liberty Center State Bank also sus pended operations. The petitions set out that examinations by the banking department showed the Wells County State bank and the State Bank of Uniondale are

15. February 14, 1929 The Monticello Journal Monticello, IN
Article from The Monticello Journal, February 14, 1929

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FOUR INDIANA BANKS ARE CLOSED Wells County is Hard Hit-Asks That Receivers Be Appointed. BLUFFTON, February 14-Following the closing of four Wells county banks yesterday Luther F. Symons, state bank commissioner, appeared in circuit court here yesterday afternoon with two petitions asking that receivers be appointed inations by the banking department sh wed the Wells County State bank and the State bank of Uniondale, are "in a failing and insolThe petitions set out that examfor the Wells County State Bank, of Bluffton, and the State Bank, of Uniondale, two of the institutions that closed. The Bank of Petroleum and the Liberty Center State bank also suspended operations. Judge A. W. Hamilton set February 21 as the date for hearings on the petitions. The Wells County State bank did not open for business today and shortly after noon the three other banks, which cleared through the Bluffton institution, also closed their doors. The Wells County bank was capitalized at $100.000 and showed deposits of $1,250,000. E. B. Williamson is president: R. S. Morrow, first vice president: Frank C. Waugh. second vice president, and R. N. Fitzpatrick, cashier. The bank was closed by Thomas Barr. examiner. The capitalization of the Uniondale bank was $25,000 and deposits were $200,000. H. W. Lipkey is president and W. A. Brickley, cashier. The Union Savings & Trust com- pany now is the only bank in Bluffton. The Studebaker bank failed in 1927, with deposits of $1,500,000. Receivers as yet have made no payments on deposits.

16. February 18, 1929 Effingham Daily Record Effingham, IL
Article from Effingham Daily Record, February 18, 1929

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THE EFFINGHAM DAILY RECORD Entered as second class matter 1898 at Effingham, III., under the act of March 1878. Effingham Daily Record Founded 1898 LICRONE PRESS BUILDING 110, 112, 114, 116 N. BANKER ST. EFFINGHAM, ILLINOIS WARNING ISSUED AS MORE BANKS IN INDIANA FAIL Indianapolis, Ind., Feb. 16.-FollowIng the closing today of more banks, Luther F. Symons, state bank commissioner, tonight issued statement asserting that the general stability of Indiana banks is assured, and urging depositors not to spread rumors might cause runs. Not A bank in Bluffton. Ind., remains open, and only the Craigsville State bank, the Farmers State bank, at Ossian, and the State Bank of Poneto, remain open in that county. Wells County bank was closed yesterday, and the Union Savings and Trust company was closed today. State banks are also closed in Wells county at Petroleum, Liberty Center, and Uniondale, and Farmers' Deposit bank, at Montpelier, nearby, was also closed today. The Citizens' National bank, at Hope, was closed today and Herman A. Stewart, age sixty-five, arrested, charged with 845,000 failure, at Bluffton, started the wholesale collapse there. Sullivan authorities tonight announced they have received tip that James Lang, president of the Citizens' Trust company there, who absconded some time ago with several thousand dollars, wrecking the Institution, has been traced to the Pacific The numerous Indiana failures are laid to crooked bank officials, negligende on the part of the official examiners, public hysteria, and straightened circumistances in rural areas.