Knisely Brothers. & Company

Episode Information

Episode UID: 8100423191609
Episode Type: Suspension → Reopening
Bank Type: state
Bank ID: 810042319 hash
Start Date: January 2, 1934
Location: Butler, Indiana (41.430, -84.871)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 1deaebc5c6ab0622

Response Measures

None

Description

Article describes deposits tied up during conversion and RFC involvement in creating a new national bank; outcome (reopening as national) implied but details sparse.

Events (2)

1. January 2, 1934 Suspension

Cause: Government Action
Cause Details: Bank began operating as a Class B institution on Jan 2 and deposits prior to that date were tied up while reorganization to a new national bank (with RFC participation) was arranged.
Newspaper Excerpt: The Knisely bank, effective Jan. 2, started operating as a Class B institution and all deposits made prior to that date are tied up.
Source: newspapers

2. January 8, 1934 Other

Newspaper Excerpt: It is proposed that the new bank be called the Knisely National bank and that it have a capital of $50,000 ... the Reconstruction Finance Corp. will take the balance, subscribing $25,000 in preferred stock or debentures.
Source: newspapers

Newspaper Articles (1)

1. January 8, 1934 Garrett Clipper Garrett, IN

Article Text

Mrs. Harry D. Heinzerling of East Houston street was hostess to her contract bridge club Friday afternoon. There were players for three tables and the high score favor was awarded to Mrs. Darel Hartle. The hostess served refreshments. W. T. Rawleigh Co. in a complaint filed in the DeKalb circuit court against Thomas and Maggie Dilgard states that the defendants guaranteed payment of an account of $935.93 for goods sold to David E. Dilgard and that payment has not been made. The demand is for $1,075. Geo. W. Crooks is the plaintiff's attorney. Persons whose income from May 1 to Dec. 31 was less than $666.67 need not file a gross income tax return, Clarence A. Jackson, administrator, announced at Indianapolis Thursday. Persons who made more than that amount must file an annual return this month regardless of any previous returns or payments, he said. The largest payroll under the civil works program in DeKalb county was distributed to 626 men Saturday. It amounts to $9,262.30. Another payroll for seventeen women totalled $178.50. The number of hours which the CWA men worked during the week ending Saturday noon was 21,183. There were thirty-nine groups employed on twenty-four projects. Funeral services were held at the Lutheran church in Butler Thursday afternoon for Miss Lou Hensler, a resident of that city who passed away Monday morning at 4:30 after a few hours illness. She was seventy-five years of age. Miss Hensler resided in Butler many years, her father having been proprietor of a hardware store some sixty years ago. Interment was made in the Butler cemetery. Mrs. Elizabeth Stewart, aged fifty-three, wife of Roy Stewart, passed away on Dec. 31 at her home in San Bernadino, Calif., after a year's illness with cancer of the intestines. Surviving besides the husband are a daughter, Mrs. Howard Laurent, and two sons, Russell and Harold Stewart, of San Bernadino; the aged father, Joseph Watier of Altona; three sisters and two brothers, Mrs. Joseph Leeson, Mrs. Theodore Houser and John Watier of Altona, Arthur Watier of Spokane, Wash., and Mrs. Carl Stiles of Chicago; and three grandchildren, who reside in San Bernadino. The Stewarts were formerly residents of Garrett, but moved to Arizona twenty-three years ago and have lived in California for the past twenty years. Mr. Stewart was a Baltimore & Ohio engineer and the family resided at 305 South Franklin street. Funeral services for the late Tho J. Ansbaugh of South Randolph street who died suddenly at his home Dec. 3 were held at the Geo. W. Iler funeral parlors Saturday afternoon with the Rev. H. J. Jordan of the Presbyterian church officiating. Interment was made in the Sweet cemetery, four and one-half miles northwest of Albion. A daughter, Mrs. Hazel Miser of Amarillo, Tex., arrived in Garrett Friday. The announcement of the marriage of Miss Georgia Musser, daughter of Mr. and Mrs. Guy Musser of East Ninth street, Auburn, to Charles L. Witt, son of Mr. and Mrs. James L. Witt of Auburn Junction, was made Friday. The ceremony was performed Dec. 30 at Defiance by the Rev. Theodore Strauss and the newlyweds will reside with the bride's parents until spring. The groom is twenty-seven years of age and the bride twenty-one. Mr. and Mrs. C. L. Wilson of South Franklin street spent Sunday in Elwood, the guests of Mr. Wilson's brother and viewing the results of the half-million dollar fire of the R. L. Leeson & Sons Dept. store. The Leesons are cousins of Mrs. Wilson. The store was founded in 1860 by Richard L. Leeson and has been operated by members of the family ever since that time. It is now in the hands of the third generation and going well. The office of the Peoples Savings and Loan Association will be moved from the Trust Co. building in Garrett to Butler on Feb. 1. The company purchased the First National Bank building in that city. Mrs. Mary Reynolds, secretary, and Clinton S. Muhn, who is also connected with the association, will continue to live in Garrett. The location of a depository for Garrett will be determined at a meeting of the board of directors Jan. 11. The officers elected last month at the annual meeting of the stockholders are: president, W. J. Mondhank of Butler; vice president, L. E. Schlotterbeck of Ligonier; and secretary, Mrs. Reynolds. Steps are being taken toward the organization of a new national bank at Butler to take the place of the Knisely Bros. & Co., a state institution. The Knisely bank, effective Jan. 2, started operating as a Class B institution and all deposits made prior to that date are tied up. It is proposed that the new bank be called the Knisely National bank and that it have a capital of $50,000 and a surplus of $10,000. Of the new capital and surplus, $35,000 will be supplied by the stockholders of the present bank and the Reconstruction Finance Corp. will take the balance, subscribing $25,000 in preferred stock or debentures.