Bank of Uniondale (Uniondale, IN)

Episode Information

Episode UID
71093171550
Episode Type
Suspension → Closure
Bank Type
private
Bank ID
7109317 routing
Routing Number
71-0931
Start Date
February 14, 1929
Location
Uniondale, Indiana (40.831, -85.242)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c0166d2d0a283762

Response Measures

None

Description

Articles discuss both the 1929 State Bank of Uniondale run/closure and the successor Bank of Uniondale (organized 1929) which suspended in 1930 for liquidation.

Events (2)
1. February 14, 1929 Run
Cause
Local Banks
Cause Details
County-wide panic and runs: multiple Wells County banks closed within 24 hours, triggering a run on the Uniondale institution.
Measures
Officers expected to invoke the 60 days permitted and hoped to reopen; directors attempted to reassure depositors.
Newspaper Excerpt
the closing was due to the run on the bank and that was entirely solvent.
Source
newspapers
2. March 19, 1930 Suspension
Cause
Voluntary Liquidation
Cause Details
Directors and a majority of stockholders petitioned for appointment of a trustee to liquidate the bank's assets; Old National Bank of Bluffton appointed trustee.
Newspaper Excerpt
The directors voted Tuesday night to liquidate, and the bank suspended operations yesterday
Source
newspapers

Newspaper Articles (5)
1. February 14, 1929 The Times Hammond, IN
Article from The Times, February 14, 1929

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Article Text

BARR CALLS SITUATION VERY BAD Bluffton Is Without a Bank When Fifth Bank Is Closed by State INTERNATIONAL NEWS SERVICE Ind., Feb. the face financial that terday pend operations, board of rectors of Union Savings Trust company, $400,000 today decided close the bank. This action run bank paid out, left the city of Bluffton bank and Wells county only three bank. ing those at Ossian, and The closing of the tirely voluntary the part the officials who explained being done to "give the expublic time draw its The development while state examiners headed by Thomas Barr, assistant state banking were on the seems have his proportion," Barr the Union Trust company was perfectThe bank put out and offered $50,000 tide but the directors didn't think they had better take The bank doesn't and solvent. that while the explained banking department didn't state Union Saving Trust close by company, its board of directors, had step Meanwhile the residents of Poneabout 300 to, miles Bluffton, sons 10 today Bank of only bank, Poneto, in the The said have withstood bank but after the business Cashier of the Mussellman called which held at mass the Poneto grade auditorium More than 125 school night. citizens attended. plea for support made every present the behind the bank. promised citizens were disWhile excited closing the last cussing the state bankBluffton bank today, examiners here force, ing charge of the closed Applications filed tutions. Judge W. Circuit for the Wells for receivers Bank of and County Bank Uniondale. the date for the February 21st hearing. was filed application also An officials of the court by the which prifor of liquidate the bank's trustee to affairs. Center Bank at LibThe Liberty erty fully sol- his Barr, received vent by close to avoid the frenzy of the depositors. the Barr, however, Wells county today situation in result of situation the the hope Barr over. that the

2. February 14, 1929 The South Bend Tribune South Bend, IN
Article from The South Bend Tribune, February 14, 1929

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Article Text

LAST BLUFFTON BANK IS CLOSED Six Institutions in One Indiana County Shut Within 24 Hours. Associated BLUFFTON, Ind., Feb 14. The Union Savings & Trust company, the only remaining bank in Bluffton, closed its doors this morning after Wednesday. The Farmers Deposit bank of Montpelier, on the Wells-Blackford county line, also closed this morning. said to Wednesday. Four in Wells county closed Wednesday Fred president of the Union Savings Trust company, and Thomas state bank examiner, said the closing was due to the run on the bank and that was entirely solvent. Officers and directors said they expected to the 60 days permitted by effect and then hoped to reopen. The Union Savings Trust had deposits of approxiWednesday the Wells County bank, with deposits of closed. few hours later the bank Uniondale closed. Petitions were filed in circuit court here asking for ceivers for both institutions, alleging they were failing and insolvent condition. The Bank Petroleum and the Liberty Center State bank also closed Wednesday. The smaller banks cleared through the Wells County Guy Bracken is president of the Farmers Deposit of Montpelier. had deposits of approximately The state banks at Poneto and Craigville and the Farmers State bank Ossian, other banks in the county, still are open. SANITARIUM SUES ACTRESS. LOS Calif., Feb. Alma Rubens. film actress. convalescing in sanitarium following nervous breakdown. has been made defendant $105 suit by another sanitarium, alleging nonpayment for

3. February 16, 1929 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, February 16, 1929

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Article Text

CLOSED BANKS PLAN TO OPEN Wells County Crisis May Be Eased Next Week. By Times Special BLUFFTON, Ind., Feb. 16.-Wells county's banking crisis may be eased early next week when the Union Savings and Trust Company is expected to open its doors. Five financial institutions in the county closed- during the week. A mass meeting at which all parts of the county was represented was held here Friday night, several speakers expressing confidence that the situation could be relieved. There were indications that the panicky feeling which caused runs is subsiding. The Wells County State bank here was the first to close. Three other banks, which used the local institution for clearing purposes, ceased business the following day. Then the Union Trust and Savings closed as a precautionary measure, after a run had started. The three others closed were at Liberty Center, Petroleum and Uniondale. At the meeting there were indications that the Liberty Center and Uniondale banks also would re-open next week. Liquidation was reported in progress at Petroleum. The audit of the Wells County State bank has not been completed and there is no information available at this time on its condition.

4. March 21, 1930 The Star Press Muncie, IN
Article from The Star Press, March 21, 1930

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Article Text

BANK GRANTED RIGHT TO CLOSE Bluffton Institution to Act as Uniondale Trustee. Bluffton, Ind., March 20.-Judge A. W. Hamilton this afternoon granted a petition signed by eighty-four per cent of the stockholders of the Bank of Uniondale asking for the appointment of trustee to liquidate the bank's assets. The Old National Bank of Bluffton was appointed trustee. with bond placed at $25,000 The voluntary petition for liquidation set that the bank's statement showed assets sufficient to pay depositors in full Deposits total approximately $155,000 The directors voted Tuesday night to liquidate, and the bank suspended operations yesterday The state banking department was notified and Thomas D. Barr, deputy state banking commissioner, is having an audit made The bank is capitalized at $10,000 The petition filed for liquidation bore signatures of sixty-five stockholders. Bull Injures Ertel James Ertel residing on the D. W Lesh farm in Rockcreek Township. is recovering from injuries received two days ago when he was attacked by an angry bull. He managed to partially hold it at bay until he was reached by Mr. Lesh. He suffered a broken rib and body bruises. Sheriff Luster Bowman and Chief of Police A. N. Plessinger went to the state penal farm today with two prisoners. Travis McGoldrick and Arnold Peeper. The latter has 133 days and the latter sixty days to serve The marriage of Mrs. Rosa Lesh and Wesley A. Markley. well known local couple, took place at 8 o'clock this morning at the Presbyterian parsonage with the Rev. W. M. Elliott officiating. The couple left on honeymoon trip to Michigan. They will reside at 702 South Jersey street. The groom is a carpenter and building contractor. The marriage of Miss Cecile Harriet Miller. daughter of Andrew Miller. of Chester Township, and Francis William Sheets, of Mrs. Charles Sheets. of Liberty Township, took place at 4 o'clock yesterday afternoon at the M. E. parsonage at Montpelier, with the Rev. Edward Antle officiating They will reside with the bride's parents. marriage was issued here this afternoon to John Frederick Raub, of Huntington, son of William A. Raub, and Blanche Daisy Miller a daughter of David Miller, of Rockcreek Township. Carpenter Dies at Murray. Peter F. Wickliffe, 70. died at the home of Mrs. Newton Davis at Murray at 10 30 o'clock last night, following an illness of four weeks, of kidney trouble and complications. He was carpenter and was a resident of Wells County thirty-five years and resided for a number of years at Ossian Surviving are two sons, Ora, of Fort Wayne and Dell, near Ossian: and three daughters. Mrs. Minnie Hoot. Warren. O. Mrs. Nathaniel Prough of near Ossian: and Mrs. Golda Pangborn. Warren. O. Brothers and sisters living are Branson and Martin Weaver Fort Wayne Frank. near Yoder Mrs. Uriah Mast. Uniondale and Mrs. Jasper Middaugh, west of Ossian Funeral services will be held at the Prospect M. E. Church at o'clock Saturday afternoon. Burial will be at Prospect cemetery Grover Denny. of Union Township today announced his candidacy for the Democratic nomination for trustee of Union Township. at the primary May 6. He is the third candidate on the Democratic ticket The Nickel Plate Railway Company today filed appeal bond in the sum

5. April 14, 1932 The Star Press Muncie, IN
Article from The Star Press, April 14, 1932

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Article Text

UNIONDALE BANK HEARING TODAY Scheduled Before Judge Decker at Bluffton. Bluffton, Ind., April Decker will hear arguments Thursday in cases involving receiverships for two closed Uniondale banks, the State Bank Uniondale which closed in February, 1929, and Bank of Uniondale, organized in 1929 to succeed the closed state bank, which in turn was closed in 1930. After the Bank Uniondale was closed trustee had charge of its affairs for time, but later Lamm When the private Bank of Uniondale was organized took the assets liabilities of the State Bank of Uniondale, under contract whereby assumed liabilities of the state bank and received with provisions in the contract for demnity event of deficits in the affairs of the state bank. Receivers File Action. Some months after the bank closed action taken to have fairs the two banks separated and Roy Liberty Center, was appointed for the original bank, State Bank of Uniondale. He filed petition asking that Receiver the private bank, be ordered to turn over to him assets the state bank. This followed by by Receiver Lamm of the private bank, asking that the contract under which the private bank took over the state bank nullified and hearing held by the court determine the separate assets and liabilities the two banks. This cross-complaint asks that all action in payment claims be staid until affairs of the two banks are definitely adjudicated. The district meeting of Daughters of Rebekahs of Adams, Wells, Hunt-