Article Text
Indiana Bank Closed Its Doors. TERRE HAUTE. Ind., June 28.-The Vigo County National Bank, on which there has been a run for the past two days. closed its doors this morning. A national bank examiner is investigating.
Vigo County National Bank (Terre Haute, IN)
Episode Information
- Episode UID
392901266- Episode Type
- Run → Suspension → Closure
- Bank Type
- national
- Bank ID
-
39290national - Charter Number
- 3929
- Start Date
- June 28, 1905
- Location
- Terre Haute, Indiana (39.467, -87.414)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
7fd428249dd2dc49
Response Measures
Full suspension, Books examined
Other: Receiver appointed / receivership following suspension and failure.
Receivership Details
- Depositor recovery rate
- 100.0%
- Date receivership started
- 1905-06-28
- Date receivership terminated
- 1909-06-02
- OCC cause of failure
- Fraud
- Share of assets assessed as good
- 76.0%
- Share of assets assessed as doubtful
- 18.0%
- Share of assets assessed as worthless
- 6.1%
Events (5)
1.
October 8, 1888
Chartered
- Source
- historical_nic
2.
June 28, 1905
Receivership
- Source
- historical_nic
3.
June 28, 1905
Receivership
- Newspaper Excerpt
- The controller of the currency has appointed W. D. Frazer receiver of the Vigo County National Bank of Terre Haute, Ind., which has closed its doors.
- Source
- newspapers
4.
June 28, 1905
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- Depositors withdrew heavily amid concerns about the bank's condition (two-day run preceding closure).
- Measures
- Closed doors; national bank examiner investigation initiated.
- Newspaper Excerpt
- The Vigo County National Bank, on which there has been a run for the past two days, closed its doors this morning.
- Source
- newspapers
5.
June 28, 1905
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank suspended operations after heavy withdrawals (run) and apparent insolvency concerns.
- Newspaper Excerpt
- The Vigo County National bank ... closed its doors this morning. A national bank examiner is investigating.
- Source
- newspapers
Newspaper Articles (18)
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Article Text
INDIANA BANK CLOSES DOOR BECAUSE OF RUN. Terre Haute, June 28.-The Vigo National Bank on which there has been a run for the past two days, closed its doors this morning.
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National Bank Fails. Terre Haute, Ind., June 28.-The Vigo National Bank on which there has been a run for the past two days, closed its doors this morning.
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VIGO COUNTY NATIONAL BANK CLOSES ITS DOORS Terre Haute, Ind., June 28.-The Vigo County National bank, on which there has been a run for the past two days, closed its doors today. A national bank examiner is investigating.
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FORCED TO CLOSE. Vigo County Bank Unable to Stand the Run. Terre Haute. Ind., June 28.-The Vigo County National bank on which there has been a run for the past two days, closed its doors this morning.
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Terre Haute Bank Suspends. Terre Haute, Ind., June 28.-The Vigo County National bank. on which the e has been a run for the bilot two days, closed its doors this morning. -
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Bank Closes Deors. (By Associated Press.) TERRE HAUTE, IND., June 28.-The Vigo county National Bank, on which there has been a run for the past two days, closed its doors to-day. A national bank examiner is investigating.
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The World of Finance and Trade CLOSED ITS DOORS. Reactionary Tendencies National Bank at Terre Haute Failed -Last Statement. Marked Today's Market. The controller of the currency has appointed W. D. Frazer receiver of the Vigo County National Bank of Terre Haute, Ind., which has closed Its doors. TONE WAS IRREGULAR The following is a statement of the resources and liabilities of the bank at the MAXIMUM LOSSES IN FEW CASES date of its last report of condition, May 29, 1905: EXCEEDED ONE POINT.
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"Run" Forces a Bank to Close. TERRE HAUTE, Ind., June 28.-The Vigo County National Bank, on which there has been a "run" for the last two days. closed its doors this morning.
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Run Closes Indiana Bank. Terre Haute, Ind., June 29.-The Vigo county National bank, on which there has been a run for the past two days, has closed its doors. A national bank examiner is investigating.
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IOWA ONE OF SIX STATES WHERE GRAFT IS UNKNOWN. (Continued from Page 1). ey than any other enterprise in the state. Testimony is to be taken in all parts of the state. Nebraska. "Lincoln, Neb., July 9. - The recent decision of the Nebraska supreme court declaring the biennial election law unconstitutional may have the effect of stopping the investigation of graft connected with its passage. It was charged during the debate on the bill that a substantial corruption fund had been raised by office holders to insure its passage and so earnest was the protest that a legislative committee was appointed to make an investigation. "Another Nebraska graft case, a relic of the indictment of ex-Senator Chas. H. Dietrich for alleged trafficking in postoffices,still hangs fire in the federal court for the district of Nebraska. It concerns men of prominence, who It is charged, worked hand in hand with the former senator in the sale of postoffices and other federal appointments. The cases of Postmaster Mitchell of Alma, Postmaster Fisher of Hastings and Elliott Lowe, former member of the legislature, indicted jointly with Dietrich, have never come to trial. "The most recent graft inquiry in Nebraska concerns the illegal acquirement of homesteads and illegal fencing of government lands in the northwestern part of the state. Many men are involved. Thus far there have been but two convictions. The trials of the other indicted men will begin at the coming session of the court One of the latter is Frank Currie, a member of the lower house of the Nebraska legislature. Indiana. "Indianapolis, Ind., July 9.-Charges of "graft" are being investigated in various parts of Indiana. From Richmond comes word that the fraud charged against members of the city administration is being investigated by the grand jury. In Grant county expert accountants report that several of the county officials now in office and former officeholders have been found short in amounts of over $23,000. The officials deny any shortage "Investigation of the defunct Vigo County National bank of Terre Haute is progressing under instructions from Washington. If the insolvency develops the acceptance of $70,000 of government deposits when failure stared the officials in the face it may incriminate the entire management. "Cashier Bowman of the Commercial bank of Hagerstown. Ind., killed himself on Monday President Mason announced the bank must suspend, with liabilities of $150,000 and comparatively no assets. Kansas. "Topeka. Kan., July 9.-Kansas is in the midst of a graft investigation which will cover every department of the state. The legislature which met last winter appropriated the sum of $15,000 to be expended by the governor in ascertaining how the public money has been handled the last five years. Five expert accountants are now busy on the books of State Treasurer T. T. Kelly, and when they finish their work they will investigate the state school fund commissioners. "Since the investigation began it has been found the state treasurer has more than $1,000.000 on deposit in state banks which he is supposed to be drawing interest The treasurer and his friends deny this, and the investigation will reveal the facts. The failure of the First National bank, with more than $500,000 in state money on deposit, has complicated affairs to a certain extent. "The charges against the members of the state school fund commission are little more than intimations that they have misused the funds in their care. Minnesota. "St. Paul, Minn., July 9.-Not since the graft charges against Mayor Ames of Minneapolis and his conviction. together with the conviction of the chief of police a year ago, for municipal graft, has there been any graft scandal in Minneapolis that has become public. Wisconsin. "Milwaukee, Wis., July 9.-Today the Milwaukee graft hunting grand a jury will reconvene and early in the proceedings will vote several more indictments. "Twenty-one alleged grafters, nearly all big members of the county board of supervisors, are under indictment, awaiting the pleasure of the district attorney before being brought to trial. They are all involved in three deals, the letting of contracts for three portions of the work on a county building. "One indictment is for the alleged giving of $250 to a supervisor to secure bis.vote sale of county property
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A MAY PAY IN FULL. Washington, July 20.-The comptroller of the currency has received the first report of W. D. Frazer, receiver of the Vigo County National Bank of Terre Haute, Ind., which suspended June 28, 1905. The receiver estimates the value of the assets as follows: Good, $858,048; doubtful, $203,104; worthless. $68,533. He estimates the bank's liabilities as
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Receiver for the Spring Valley Bank. Washington, Aug. 1.-Judge Harvey M. Trimble, of Princeton, Ill., has been appointed receiver of the Spring Valley National bank, of Spring Valley, III., and Charles Andrews, of Brazil, Ind., has been appointed receiver of the Vigo County National bank, of Terre Haute, Ind.
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Receiver Appointed. Washington, Aug. 1.-Judge Harvey M. Trimble. of Princeon, Ill., has been appointed receiver of the Spring Valley national bank of Spring Valley, Ill., and Charles Andrews, of Brazil. Ind., has been appointed receiver of Vigo County national bank, of Terre Haute, Ind.
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Receiver Appointed. Washington, Aug. 1.-Judge Harvey M. Trimble, of Princeon, III., has been appointed receiver of the Spring Valley national bank of Spring Valley, III., and Charles Andrews, of Brazil, Ind., has been appointed receiver of Vigo County national bank, of Terre Haute, Ind.
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SCHIFFER UNDER HEAVY BONDS. Owner of Defunct Colorado Bank Waives Examination. ALAMOSA. Cal., Nov. 11.-Abraham Schiffel. one of the owners of the Bank of Alamosa, which suspended business recently, and who was arrested in New York, waived preliminary examination and was held in bonds of $70,000, $10,000 each for seven counts of receiving deposits while knowing his bank to be insolvent. TERRE HAUTE, Ind., Nov. 11.The second 40 per cent dividend, approximating $300,000, will be paid with. in A few days to the depositors of the defunct Vigo County National bank.
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Dividend from Failed Bank. Receiver Andrews has declared a 10 per cent dividend to the creditors of the Vigo National bank in Terre Haute, making 20 per cent paid in a year since the failure. The largest deposit was the $90,000 of the United Mine Workers of Indiana. There is little doubt that a final 10 per cent will be paid, but it will take some time to collect notes on which the receiver is bringing suits.
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# Holds Dividends Not Earned. Receiver Andrews has made demand on directors of the Vigo National Bank in Terre Haute for $45,000 paid in the last six years as dividends which, it is alleged, were not earned.