American National Bank (Rushville, IN)

View Charter #12420 on SPMC View balance sheet

Episode Information

Episode UID
1242001600
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
124200 national
Charter Number
12420
Start Date
April 21, 1933
Location
Rushville, Indiana (39.609, -85.446)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a2da5619c3aaaa48

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1933-04-25
Date receivership terminated
1938-07-15
OCC cause of failure
Fraud
Share of assets assessed as good
53.6%
Share of assets assessed as doubtful
36.0%
Share of assets assessed as worthless
10.4%

Description

President Jasper Case's suicide (May) nearby in time suggests bank-specific distress connected to closure.

Events (4)
1. July 30, 1923 Chartered
Source
historical_nic
2. April 21, 1933 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended payments April 21, 1933; contemporaneous local reports link bank closure and later suicide of its president, indicating bank-specific distress.
Newspaper Excerpt
which bank suspended payment on April 21, 1933
Source
newspapers
3. April 25, 1933 Receivership
Source
historical_nic
4. April 25, 1933 Receivership
Newspaper Excerpt
the closed American National bank which was closed in April; John F. Russell, Receiver of American National Bank, Asks Jurisdiction. RECEIVER TO SELL BANK'S SECURITIES. Receiver's Petition ... was filed by John F. Russell, receiver of the bank.
Source
newspapers

Newspaper Articles (12)
1. May 5, 1933 Tri-County Banner Knightstown, IN

Article Text

Off To Band Contest Knightstown's "Class high school band compete against seven other bands in this class at the Indiana school band orchestra contest to held at LaPorte, this and Saturday. Other bands Friday entered this class are Banker, ConNappanee, Lawrence Rockville, Butler total of 28 bands and orchestras from over the state will take part the than 2,000 vidual musicians participate. contest will be featured by parade of all bands Saturday daylight saving time. Jasper Case Commits Suicide Case, aged 76 years Jasper the president of the closed National Bank and reputed have been the man Rush county, his home in Rushville Sunday afterby shooting calibre revolver, the bullet entering his According to the right coroner, notes the motive for the rash act lacking Case was financially several banks of Rush county and said one of the largest of that community American National Bank, which closed April 22nd, after was been opened without restrictions following the banking moratorium. He survived by the widow and Case, Jr., Washson, Jasper ington. Case was warm personal friend of Arthur Bernard, of this city.

2. June 12, 1933 Rushville Republican Rushville, IN

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NOTICE TO DEPOSITORS. NOTICE IS HEREBY GIVEN, that pursuant to Section 9 of Chapter 33, Acts of 1932, Page 146, it is the decision of the Attorney General and the Auditor of State of Indiana, that there was on deposit with THE AMERICAN NATIONAL BANK, Rushville, Indiana, which bank suspended payment on April 21, 1933, the following Public Funds classed as New Money Rush County, Indiana $27,961.97 Rushville Civil City 24,569.87 Rushville School City 375.48 Jackson Township, Rush County 379.16 Rushville Township Rush County 43.66 Ten days after this publication, if there is no objection, the Auditor of State will issue his warrant for the above amount. JOHN F. RUSSELL, Receiver. The American National Bank, Rushville, Indiana. R-June12t1

3. June 12, 1933 Rushville Republican Rushville, IN

Article Text

NOTICE TO DEPOSITORS. NOTICE IS HEREBY GIVEN, that pursuant to Section 9 of Chapter 33, Acts of 1932, Page 146, it is the decision of the Attorney General and the Auditor of State of Indiana, that there was on deposit with THE AMERICAN NATIONAL BANK, Rushville, Indiana, which bank suspended payment on April 21, 1933, the following Public Funds classed as New Money: Rush County, Indiana $27,961.97 Rushville Civil City 24,569.87 Rushville School City 375.48 Jackson Township, Rush County 379.16 Rushville Township Rush County 43.66 Ten days after this publication, if there is no objection, the Auditor of State will issue his warrant for the above amount. JOHN F. RUSSELL, Receiver. The American National Bank, Rushville, Indiana.

4. July 1, 1933 Rushville Republican Rushville, IN

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RECEIVERSHIP OF LOCAL BANK COURT HERE John F. Russell, Receiver of American National Bank, Asks Jurisdiction. RECEIVER TO SELL BANK'S SECURITIES Receiver's Petition for Authority to Make Sale Is Granted by Court. Jurisdiction in receivership of the American National bank of which was closed in April, was taken over by Rush circuit court Saturday following petition to that effect filed by John F. Russell, receiver of the bank. Under the new banking laws the receiver of a national bank, so appointed by the comptroller of currency, upon order of a court of record of competent jurisdiction, may sell or compound all bad or doubtful debts or sell all real estate and personal property in liquidating the bank. As the nearest district federal court is in Indianapolis, Mr. Russell and Gates Ketchum, attorney for the receiver, decided that for reasons of economy they would place the matter of the bank's receivership in the local circuit court instead of taking it to the federal court at Indianapolis. Upon Judge John A. Titsworth granting the petition for the local circuit court to assume jurisdiction in the matter, petition for) order authorizing sale of the bank's securities was also filed by the receiver's attorney. This petition was likewise granted by the court. It is listed by Mr. Russell that among the American National bank's assets are stocks, bonds and securities of a par value of $40,000 pledged to secure bills payable to the Fletcher American National bank of Indianapolis; U. S. government bonds of par value of $4,750; and stocks, bonds and securities, free and unpledged, of a par value of A typewriter is also included in the petition for order of sale. Following the receiver's petition, the court directed that all general market unpledged bonds and securities be concentrated and held for sale at the Federal Reserve bank of New York under arrangement of the comptroller of currency, and ceiver ordered these securities bank where they for sale sale of court emreceiver Ameribank or its sucsale of piedged that bank. The reempowered

5. July 19, 1933 Rushville Republican Rushville, IN

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COUNTY EXHAUSTED WHEAT LISTED E. Brown, County Agent, Attends District Meeting at New Castle on Wheat Acreage Project. Child Welfare Association of County Makes First Appeal in 30 Years of Existence. A series of three educational meetings will be held in townships of Rush county upon completion of mailing list of wheat growers in 1930, 1931 and 1932, according to plans announced by state extension leaders at meeting of county extension leaders in New Castle Tuesday afternoon. Brown, local county ricultural agent who attended this meeting, brought back information of interest to Rush county wheat growers. The first of these educational meetings will acquaint wheat growers with the situation in relation to world supplies, foreign policies and status the United States in world trade. The second will be devoted to discussion of the contract to be offered growers by the government under the agricultural adjustment act, while the third session will be held by contractsigners to elect a member from their township to the county control board. Two additional members will join with his man TURN TO PAGE Six An especially urgent appeal for funds from Rushville and Rush county citizens has been made from one of the county's oldest and most deserving organizations. The appeal for financial help at this time comes from the Rush County Child Welfare association which for thirty years has been sponsoring the work of correcting the physical defects of children of the poor in Rush county. Activities of the organization have been halted for some time on account of its funds being frozen with the closing of the defunct American National Two of the organization's heaviest contributors, the Tri Kappa and Kappa Kappa Sigma sororities of this city, have their charity funds tied up in the closed bank and are without means of giving their usual amounts as in past years. With the financial status of the parent organization and its contributors at low ebb, the appeal for money from the general public to carry on the deserving work is all the more urgent, it was pointed Immediate help for the organization is needed, it was statthe next month to promote surgery and treatment to thirtytwo children of the county whose cases have been reported. These cases should be taken care PAGE Six

6. July 19, 1933 Rushville Republican Rushville, IN

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RECEIVER RESIGNS; John Russell, Greensburg, Resigns Post Because of III Health. HARRY DEPREZ OF SHELBYVILLE NAMED New Receiver of American Bank Will Take Charge Immediately. John Russell of Greensburg, who has been receiver for the closed American National bank here for several weeks, has resigned, and he will be succeeded by Harry W. DePrez of Shelbyville. Mr. DePrez has been appointed by the Comptroller of the Currency, in Washington, upon the recommendation of Senator Frederick VanNuys, it was announced. Mr. Russell's resignation was brought about because of his health, he stated. His health became impaired during the long hot spell in June which left him in weakened condition and he has failed to recuperate, he said. Mr. Russell arrived at the decision that his further continuance would not only be detrimental to the trust but also restoration to former health. "The people of Rushville and Rush county," he stated, "have the reputation of being friendly folk. They have more than lived up to that reputation with me. have had the splendid support and coöperation of the very best and daily contacts them was a great pleasure. My brief stay in Rushville will always be pleasant memory." The trust will be turned over to Mr. DePrez at the close of business today. He will give Mr. Russell detailed receipt for the assets. This may take couple of days to prepare and the bank be closed during its preparation, it was stated. After that there will be no interruption and the filing of TURN TO PAGE THREE

7. July 19, 1933 Rushville Republican Rushville, IN

Article Text

NOTICE TO DEPOSITORS During the transfer of the receivership of the American National bank, the bank will be closed probably for two or three days. Notice will be given when the bank is ready to open. JOHN F. RUSSELL, Receiver. 108t2 State of Indiana, Rush County SS: Notice is hereby given that the Board of School Trustees of Rushville, Indiana, has duly adopted a Resolution declaring an emergency exists for the expenditure of money for the purpose of making certain repairs and improvements in the heating plants of the High School and the Annex School Buildings. The funds to be made available are Two Thousand Dollars ($2,000.00) said funds obtained by the sale of notes of the School City. The taxpayers of the City of Rushville, Indiana, are notified that said matter will be considered and determined upon at a meeting of the Board of School Trustees in its office at the High School Building at 10:00 o'clock A. M., on the first day of August, 1933. BOARD OF SCHOOL TRUSTEES RUSHVILLE, INDIANA. R 19-26 Tel-July 20-27

8. July 19, 1933 Rushville Republican Rushville, IN

Article Text

NOTICE TO DEPOSITORS During the transfer of the receivership of the American National bank, the bank will be closed probably for two or three days. Notice will be given when the bank is ready to open. JOHN F. RUSSELL, Receiver. 108t2

9. November 13, 1933 The Daily Republican Rushville, IN

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BANK RECEIVER Action on Note Involves the Building Housing Closed Local Bank. ASKS OF REALTY COMPANY Man Arraigned in Court for Re-Connecting Gas Pipes in Home. The American National Realty company was made defendant in suit note asking $6.350 and appointment of a receiver filed in circuit court by Harry W. DePrez, receiver of the American National bank which was closed last April. The plaintiff states that the realty company was organized to buy, lease, hold, etc., real estate and fixtures for the purpose of furnishing a building for the American National bank, and to take over the property of the Payne Realty company. Common stock of the American National realty company was placed at 2,500 shares of no par value, the plaintiff states, and preferred stock amounted to $50,000 in 500 shares of $100 each. Preferred stockholders were to received dividends of per cent annually, the suit states. The American National bank owns 2,495 shares of the realty company's common stock, according to the complaint, and this stock is listed among the bank's assets. The late Jasper Case, as trustee, purchased all of the preferred stock, the plaintiff asserts, and the realty company now owes a large sum to the trust owning the preferred stock. Taxes against the real estate and the corporation, payable in 1933, amount to $1,100 and are delinquent, the suit alleges. On July 18, 1928, the realty company was loaned $4,000 by the bank, the plaintiff claims, and this money plus interest is now unpaid to the extent of $5,Affairs of the defendant are TURN TO PAGE THREE

10. December 4, 1933 Rushville Republican Rushville, IN

Article Text

AMERICAN BANK TO PAY OFF 60 PER CENT TO DEPOSITORS FROM PAGE ONE not be ready by Christmas, yet the announcement is a guarantee by the government that such a payment will be made, and credit upon the strength of such a guarantee would be of great benefit to the entire community, he pointed out. The bank receiver also made a request today of the public. He asked that depositors refrain from calling at the bank and inquiring about the date for the pay-off. Notice through the press will be given, he stated. The next few days will find the bank clerks busy preparing the checks and other details, and the less bother they are put to now, the quicker the payment will be made, Mr. DePrez stated. There are between 1700 and 1800 accounts. The clerks began at once to write these checks, representing 60 per cent. These checks and other papers are to be forwarded to the comptroller of the currency in Washington. The checks are to be signed by the officials in Washington, and because of all this, several weeks will be required before payment can be made. Mr. DePrez stated that liquidation was well under way and that it had progressed to such a point that a 35 per cent dividend could be made from collections made so far. The Reconstruction Finance Corporation was asked to aid the bank and a loan of $125,000 was obtained upon the notes held by the bank which were regarded as good security, it was stated. The matter of declaring a dividend was left entirely up to the government officials, and while Mr. DePrez expected only a 50 per cent dividend, the government officials announced a 60 per cent pay-off. The bank receiver stated that he was in no position to estimate what the total dividend would be at the end of the liquidation. He did, however, state that there would possibly be at least two more payments.

11. April 20, 1934 Rushville Republican Rushville, IN

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Bank Receiver Also Files Suit to Foreclose — Divorce on File. Four new suits including a divorce complaint were filed in circuit court Thursday afternoon and Friday morning. Jacqueline Horall is plaintiff in the divorce suit filed against Stanley Horall. Both are residents of this city. The plaintiff charges the defendant guilty of cruel and inhuman treatment in her complaint for divorce; that on numerous occasions he stayed away from home until a late hour, leaving her alone without reason or explaination for such conduct. The plaintiff further alleges that on several occasions her husband returned home and struck her and used vile and profane language; that the defendant refused to desist from drinking and that during the last few months of their married life the defendant showed a wholly indifferent attitude toward her and on several occasions told the plaintiff he no longer wanted to live with her. The decree sets out that the couple was married March 22, 1926 and separated on April 14, 1934. Custody of two children and money for their support, costs of the suit, and $25 attorney fees is demanded by the plaintiff in the action. Harry DePrez, receiver for the closed American National bank, has filed suit for foreclosure of real estate mortgage, and the appointment of a receiver against Glen E. Moore, Lavone E. Moore, and Earl Gard, on notes totaling $8,000. An automobile accident near Harrison, Ohio, on September 4, 1933 is the basis of another new suit filed in circuit court by Justin A. Fowler against the National Liberty Insurance company of America. Fowler alleges the insurance company has failed to adjust damages due him on a policy held by the plaintiff with said insurance company. He charges that he suffered damages to the extent of $462.09 to an automobile owned by him which TURN TO PAGE THREE

12. November 29, 1935 Rushville Republican Rushville, IN

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BANK RECEIVER HAS FILED ANOTHER CASE; MORE ARE TO FOLLOW Harry W. DePrez, American Bank Receiver, Says He Has Received Orders from Washington. THOSE WHO OWE SUBJECT TO LEGAL ACTION SOON Another complaint on bank assessment was filed in the Rush Circuit court Friday by Harry W. DePrez as receiver for the American National Bank, and against Lowell M. Green and Maud Green. The demand is for $2,400 judgment. The complaint alleges that on June 10, 1933, the comptroller of the currency placed a levy of 100 per cent on the stock in the closed bank. From that date interest at the rate of 6 per cent is added, the complaint sets out. The receiver, in his action, says he has reason to believe that the couple is a joint owner of 20 shares of stock, par value of which was $2,000. Mr. DePrez, in a statement, said the comptroller's office has issued orders to sue all who have not made their assessments in full and that additional complaints were to be filed within the next few days. At the same time, the receiver was ordered to take legal action against all accounts in which arrangements have not been made or satisfactory security given. Collections in the last six months have been satisfactory, Mr. DePrez stated and he anticipates another dividend in the near future. The bank has paid 80 per cent to depositors. Civil and juvenile matters were taken up by Judge John A. Titsworth in circuit court Friday after a day of inactivity on account of Thanksgiving. Administrator filed report of sale of real estate in the case of Daisy Gwinnup, executrix of the last will of Melissa Barnes, against Daisy Gwinnup et al., petition to sell real estate. Report was approved, sale was con- (Turn to Page Three)