State Bank (Westfield, IN)

Episode Information

Episode Type
Suspension โ†’ Closure
Start Date
January 16, 1931
Location
Westfield, Indiana (40.028, -86.157)
Bank Type
state
Routing Number
71-0945

Metadata

Notes

No article describes a depositor run; bank was closed and placed in receivership for liquidation.

Events (4)

1. January 16, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed due to insolvency/poor assets; later receiver cites $47,000 losses from bad notes and mortgages.
Newspaper Excerpt
A petition asking appointment of receiver for the State bank of Westfield, Hamilton county, was filed ... The bank was closed a week ago.
Source
newspapers
2. March 2, 1931 Receivership
Newspaper Excerpt
Judge Fred E. Hines of Hamilton circuit court here appointed Harry Talbert receiver of the bank.
Source
newspapers
3. May 13, 1931 Other
Newspaper Excerpt
Harry Talbert, receiver of the State Bank of Westfield, closed in January, filed a petition ... to assess stockholders 100 percent due to losses of approximately $47,000.
Source
newspapers
4. July 17, 1931 Other
Newspaper Excerpt
Harry Talbert, who is liquidating the bank announces that he will begin paying out 25% dividend Friday to depositors.
Source
newspapers

Newspaper Articles (11)

Article from The Indianapolis Times, January 23, 1931

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Article Text

Bank Receiver Asked By United Press NOBLESVILLE, Ind., Jan. 23.A petition asking appointment of receiver for the State bank of Westfield, Hamilton county, was filed in Hamilton circuit court here today by Luther F. Symons, state banking commissioner. The bank was closed a week ago. Hearing will be held Feb. 2.


Article Text

Bank Receiver Asked

By United NOBLESVILLE, Ind., Jan. 23.A petition asking appointment of receiver for the State bank of Westfield, Hamilton county, was filed in court here today by Luther F. state banking The bank was closed a week ago. Hearing will be held Feb.


Article Text

Meeting Held Saturday and the Situation Discussed

THE LIBRARY

Steps Necessary to Get New Explained By Frank Beals

The town and community determination and spirit of whole hearted support to plan for the reorganization of the State Bank Westmass meeting held at the Public Library Saturday night. Chairman Mendenhall openmeeting by giving brief outline object to be accomplished. The principal speaker, Frank Beals, citizen legal advisor for the Fletcher Trust introduced. Mr. Beals first pointed out the of meeting forum consider and means of organization. The lowed discusof the banking laws Indiana relative to the founding State Banks and under which they operated and may be stocked. Contrary to unfounded circulated shown that formality petitioning for Bank Receiver should not cause unalarm nor be taken to indicate reorganization cannot achieved. In fact Beals quotthe State Banking Commission that should the citizens community of Westfield manisufficient pledge adequate by Febthat he would lend his influence to set aside the petition for furthermore pointed out the investigation by the State Banking Commission not of sudden withdrawals on the institution occurred frequentin similar situations during the year. The condition shown be result of the general deflation values which has been place over period of years which can be met satisfactorthrough the organized effort and the community attendance and the enthusiof the meeting the conclusion the Mr. Beals many questions by those interested in to be taken These were and by Beals and others formed on the decided that committee with selecting subcommitpower This make an canvass pledge sufficient effect this reorganization. Chairman Mendenhall appointed Carey and Baber this committee power to appoint their assistFollowing the adjournment of the meeting, remained to pledge support the taking. also known that stockholders the old bank come forward and are prelike amount in the anticipated institu- reactionary results of the seemed the considerable confidence plan and in the community readjust banking satisfactory manner

MOVE Claybourn Wheatley, have resided Tennessee, for past eight years move this city days Wheatley will employed Wheatley membered as Miss formerly resided here.

Talking moving pictures are made the United States army use in training soldiers.


Article from The Indianapolis Times, March 2, 1931

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Article Text

Bank Receiver Chosen By Times Special NOBLESVILLE, Ind., March 2.On recommendation of Luther F. Symons, state banking commissioner and stockholder of the defunct State Bank of Westfield, Judge Fred E. Hines of Hamilton circuit court here appointed Harry Talbert receiver of the bank.


Article Text

SLAYER IS EXECUTED

Bandit Pays With Life for Killing Messenger.

United Pa., March Thomas Martin, Philadelphia, was electrocuted at Rockview penitentiary today for the murder Cameron during $34,000 robbery, Dec.

Decatur Banks Merge

DECATUR, Ind., March old Adams county bank here became the county's strongest institution Saturday when it was merged with the New People's Loan Trust Company. the bined institutions are Old Adams bank founded 1874 People's Loan Trust Company in 1930.

Bank Receiver Chosen

Times Special NOBLESVILLE, Ind., March On Luther Symons, state banking commissioner of the defunct State Bank Westfield, Judge Fred Hines of Hamilton circuit court here appointed Harry Talbert receiver of the bank.


Article Text

FARMS

Four Pieces of Noblesville Property and One In Sheridan

LINDSAY BALLARD BUYS A TRACT

New Litigations Filed and Marriage Licenses Issued

Eight farms in Hamilton county, four pieces of property in Noblesresidence Sheridan changed hands during the endWednesday, according the books the office of Recorder Kinnaman. tract of land in Washington township which Lindsay H Ballard bought Clara Hinshaw was priced at $3,000 which topped the list week. Other farms which changed owners were located Delaware, White River, Clay and Noblesville The transfers for the week are follows: Oley Swank to Leurel lot in George Leach Donovan land twp., Otto Kirby to James Coverdale. lot in Noblesville, Cleave Thomas John W. dergrass, land Delaware twp., $1. Clara Lindsay Washington Clark Mallery Albert Ewing, lot in Sheridan, $200. Albert Ross Ora Kirby, Noblesville, Lindsay H. Ballard to John Pendergrass, land in Delaware Elmer Shelburne to Sadie Brouhard, land Clay twp., James Newby Mollie Newland in White River twp., William Maker to Alfred Moldthan, land in Delaware Mary Carey to Lotta Carey, land in Delaware Edgar Coffman Edgar Moldthan, land in

New Cases Filed Ralph Kane Joseph Morgan. receiver of the Greek Orthodox church St. Trias, complaint for torney Rosa Greenwood Hudie Greenwood, complaint for divorce; change of venue from Madison county. David State, tition for of coram nobis. Dorser Clark Kessler Boulevard Realty Co., complaint foreclose mechanics Harry Talbert, receiver State Bank Westfield Charles and Mabel Osman, complaint for possession of real estate.

Marriage Licenses Eugene Brewer and Iris Hulse. Elwood D. Craig and Grace M. Buscher James McCown and Ethel M. Cobble.


Article from The Indianapolis Times, May 13, 1931

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Article Text

Bank Receiver Sues By Times Special NOBLESVILLE, Ind., May 13.A petition has been filed in Hamilton circuit court here by Harry Talbert, receiver of the State Bank of Westfield, closed in January, for an order to assess stockholders 100 per cent. Talbert sets out that losses, due to bad notes and mortgages, will total $47,000.


Article Text

STOCKHOLDER LEVY ASKED

Bank Receiver Also Seeks Permission to Sell Property. [Special to The News) NOBLESVILLE, Ind., May 13.Harry Talbert, receiver for the defunct State Bank of Westfield, has filed a petition in n court asking to make an assessment of 100 per cent. on all stockholders. The receiver asserts the bank will lose approximately $47 000 because of uncollectable notes and mortgages. The petition further asks for the privilege of selling the bank building, now occupied by the Jolietville State Bank, which was moved to Westfield recently from Jolietville and which will change its name as soon as charter is issued.


Article Text

STREAM SURVEY ASKED

Indiana Waters to Be Examined for Trout Stocking.

Dr. Will Scott of Indiana university and two students will survey Indiana to determine to what extent they may be stocked with trout, was announced today by Walter Shirts, chief of the fish and game division of the state conservation department, under whose auspices the survey is to be made.

Bank Receiver Sues

By Times Special NOBLESVILLE Ind., May 13.A petition has been filed in Hamilton circuit court here by Harry Talbert, receiver of the State Bank of Westfield, closed in January, for an order to assess stockholders 100 per cent. Talbert sets out that losses, due to bad notes and mortgages, will total $47,000.


Article Text

BOY GETS MEDAL FOR REPORTING A BARBURY BUSH

LaVerne Unger, son of Ralph Unger, Route 1, Cicero living 2 miles southwest of Cicero has just been awarded the medal of the Rust Prevention Association for locating and reporting an outlaw common barberry bush which sureads the destructive black stem rust to wheat, oats, barley, and rye. LaVerne was a freshman last year in the Cicero school. He learned to know the common barberry bush in the 8th grade when the teacher brought one to show the class and in while working on the farm which his father rents from Dr. Little, LaVerne located several common barberry bushes growing in the woods. He reported the bushes to county agent E. C. Parker and he in turn reported them to the state leader of barberry eradication at Purdue University. Mr. W. E. Leer, the state leader came to investigate. LaVerne took Leer to the location but they found only a hole where the bushes had been dug. The boy then undertook to find the transplanted bushes. They were found on the J. M. Kinder farm where Edward the son, had set them as an ornament around the house not knowing that they were the outlaw common barberries. Mr. Kinder was ~lad to have them removed vicinity identified them as barberries. Mr. Leer was so well impressed with the work of LaVerne Unger that he recommended him for the medal and it has now been awarded to the boy. Mr. Leer suggested that citizens of Hamilton County should be particularly careful not to transplant wild bushes from the woods unless they are very sure that the bushes are not the outlaw common barberry. Thousands of them have been killed in the county and more are constantly coming up from the seed left in the ground by the old bushes already destroyed. Last week agents of the United States Department of Agriculture used 750 pounds of salt to kill more than 300 common barberries which had sprung up since the county was surveyed in 1927. This work is nart of the campaign being waged in 13 central grain states for the eradication of the common barberry. Since 1918 more than 18,000,000 have been killed and the annual loss from black stem rust has been reduced from 57,000,000 bushels yearly to less than 10,000,000.

GOOD NEWS FROM WESTFIELD

Good news for the depositors of the defunct State Bank of Westfield is carried in the Receiver's Notice in another column of this paper. Harry Talbert, who is liquidating the bank announces that he will begin paying out 25% dividend Friday to depositors.


Article from The Indianapolis Times, July 25, 1931

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Article Text

Bank Asks Name Change

By Times Special

NOBLESVILLE, Ind., July 25.- The Jolietville State bank has filed a petition in Hamilton circuit court here to change its name to Union State bank. This institution was moved from Jolietville to Westfield recently when the State bank of Westfield went into the hands of a receiver, but the name of the Jolietville State bank was maintained. Half of the stock is owned by residents of Jolietville and the other half by residents of Westfield. Harry Talbert, receiver for the State bank of Westfield, is paying a 25 per cent dividend to depositors.