7244. Bank of Henshaw (Henshaw, KY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 2, 1910
Location
Henshaw, Kentucky (37.622, -88.056)

Metadata

Model
gpt-5-mini
Short Digest
6ad6d02f

Response Measures

None

Description

Articles (May and Nov 1910) report the Bank of Henshaw permanently closed after the failure/assignment of merchant I. V. Runyan, whose large indebtedness to the bank forced its closing; the People's Bank and Trust Company at Morganfield acted as assignee. No contemporaneous mention of a depositor run is present, so this is classified as a suspension leading to closure (receivership/assignee).

Events (3)
1. May 2, 1910 Receivership
Newspaper Excerpt
The People's Bank and Trust Company at Morganfield is the assignee.
Source
newspapers
2. May 2, 1910 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Failure/assignment of large debtor I. V. Runyan whose insolvency and indebtedness (including a $20,000 loan) forced the bank to close.
Newspaper Excerpt
Three days later the Bank of Henshaw had to close its doors.
Source
newspapers
3. May 19, 1910 Other
Newspaper Excerpt
It was announced that the Bank of Henshaw, Ky., will permanently close its doors, after paying the depositors.
Source
newspapers

Newspaper Articles (2)
1. May 19, 1910 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, May 19, 1910

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Article Text

furnish its own power from the tamous Dells dam. Oshkosh business men are pushing a campaign for good roads. The aim is to arouse sufficient interest among the farmers that they will participate in a contest. The plan is to offer a prize of about $100 to the farmer making the best mile of roadway, $50 to the second best and $25 or smaller amounts to other notable improved roadway sections. The Electric Light and Water supply company of Neillsville is making arrangements to increase its capital stock to $30,000 and to issue bonds to the amount of $100,000, which will be used for the development of the upper dam. It was announced that the Bank of Henshaw, Ky., will permanently close its doors, after paying the depositors. The failure of I. V. Runyan, grain merchant, planter and buyer, for $100,000, is given as the cause of the bank's difficulties. Kenosha Electric railway company filed an application with the state railroad commission at Madison asking for the issuance of a certificate of necessity and convenience for the granting of a franchise to the company to engage in a general lighting business in Kenosha. The annual stockholders' meeting of the Marshfield Brewing company reelected the present officers. The directors declared a dividend of 6 per cent for the year. In addition extensive repairs were made. Electric power will probably be installed in the near future. N. S. Kimball, of Green Bay, aged 79, district master mechanic with the Milwaukee road, who has held a position of official authority longer than any man on the railroad in the United States, is to retire. For fiftyone years he has held a position of responsibility with that road. With his retirement the road will abolish this office.

2. November 23, 1910 The Hartford Herald Hartford, KY
Article from The Hartford Herald, November 23, 1910

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Article Text

Involving Former Merchant of Henshaw. LAVISHED MONEY AND JEWELS On His Inamorata-His Business Failure Caused Bank to Suspend. FRAUDULENT MOTIVE CHARGED Evansville, Ind., Nov. 19.-After a chase of six months, during which time detectives hired by his creditors were on his trail continuously, I. V. Runyan, a former merchant of Henshaw, Ky., who spent much time and money in this city, was indicted by the gand jury at Morganfield, charged with false swearing in making his list of assets when he made his assignment last April. The charge against Runyan is based on the fact that at the time he made his assignment he had a check for $7 in his pocket and failed to declare it. He cashed the check a "few days later. Runyan's failure caused the Bank of Henshaw to go to the wall and several other people have lost considerable through his failure. Shortly after he made his assignment, the creditors began to get suspicious, as he made trips to Evansville about every four days. The local firm of Hougland & Davis were employed to watch Runyan when he came to this city and their findings had much to do with bringing the indictment. Runyan was infatuated with Nellie Parsons, and he set her up in an establishment of her own. She was located at 410 Garvin street, but later removed to 903 Ninth street. Later Runyan became aware that he was being watched and he had the woman remove to Owensboro, Ky. He paid visits to this city with regularity and was not stringent when it came to spending money. Among other things he purchased the woman a diamond valued at $200, and fitted up her home in elegant style. His creditors will make a fight to secure this diamond and the other things Runyan purchased with the money which should have been listed in his assets. Runyan conducted a large general merchandise store at Henshaw and borrowed money from a number of parties. He secured a loan of $20,000 from the Bank of Henshaw. On April 29 he made an assignment. Three days later the Bank of Henshaw had to close its doors. The People's Bank and Trust Company at Morganfield is the assignee. Various other firms and banks in Western Kentucky are holders of his paper. The liabilities of Runyan were listed at close to $100,000, while his assets, consisting of the store building and stock, and,a few other pieces of real estate, were valued at $60,000. Very little cash was listed in the assets, and it is claimed that Runyan made the assignment in order to defraud his creditors. It was found, on investigation here, that Runyan, on his visits to this city, purchased only the best the market afforded. He visited Evansville once or twice a week and it is estimated that he spent close to $1,000 in this city alone. Runyan is a married man and has his home at Henshaw. He is about 46 years of age, and has a couple of married daughters. Nellie Parsons, with whom he was infatuated, was an inmate of the underworld here and was often seen on the streets with him. The Hougland-Davis detective agency refused to give any information as to the extent of Runyan's expenditures in this city, but stated they would be shown at his trial.