6120. Lincoln Bank and Trust Company (Muncie, IN)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 1, 1930*
Location
Muncie, Indiana (40.193, -85.386)

Metadata

Model
gpt-5-mini
Short Digest
de03e282

Response Measures

None

Description

The bank voluntarily closed its doors and was placed in receivership in early April 1930. Newspaper items describe inventory, receivers appointed, and ongoing liquidation actions through 1933. There is no mention of depositors running or of the bank reopening — the episode is a suspension leading to permanent closure and receivership.

Events (3)
1. April 1, 1930 Other
Newspaper Excerpt
Petition Filed by Deputy State Commissioner. Action on petition for appointment receiver the Lincoln Bank and Trust Company, will be taken in the Circuit morning. ... the defunct banking after doors had been voluntarily closed by the bank's officers and rectors and Luther Symons, state bank had been called assume control The petition asking that receiver by the bankthe state, the failing tion and has been the best depositors, creditors, and stockholders. (The Star Press, 1930-04-01).
Source
newspapers
2. April 1, 1930* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank officers voluntarily closed the bank due to failing condition/insolvency; inventory being taken and liabilities exceed assets leading to closure and liquidation.
Newspaper Excerpt
doors had been voluntarily closed by the bank's officers and rectors
Source
newspapers
3. April 3, 1930 Receivership
Newspaper Excerpt
Jacob D. Miltenberger ... and Burl A. Madill ... were named receivers here today for the Lincoln Bank and Trust Company, which failed here Saturday night. ... receivers were placed under $50,000 bond. (Indianapolis Star, 1930-04-03).
Source
newspapers

Newspaper Articles (10)
1. April 1, 1930 The Star Press Muncie, IN
Article from The Star Press, April 1, 1930

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Article Text

BANK RECEIVER ASKED IN COURT Petition Filed by Deputy State Commissioner. Action on petition for appointment receiver the Lincoln Bank and Trust Company, will be taken in the Circuit morning. terday afternoon through the law firm of McClellan and Hensel by Thomas D. deputy state bank commiswho arrived here Sunday ning and took charge of the affairs the defunct banking after doors had been voluntarily closed by the bank's officers and rectors and Luther Symons, state bank had been called assume control The petition asking that receiver by the bankthe state, the failing tion and has been the best depositors, creditors, and stockholders. Formal Notice Ordered. Judge Guthrie the formal notice required by law matissued the stockholders directors the scheduling for hearing Depositors and others. many of the curiously seen yesterday throughthe about the closed Main streets. State gaged work the bank behind blinds effort to the exact financial status of the Barr said last night that the inventory would completed time today hard dict anything about said. "Some will paid that expected to be and other notes expected to be paid not be paid. occasion." depositors in closed Continued Fifth

2. April 3, 1930 The Indianapolis Star Indianapolis, IN
Article from The Indianapolis Star, April 3, 1930

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Article Text

BANK RECEIVERS NAMED. MUNCIE, Ind., April -Jacob D. Miltenberger, Muncie realtor and former Delaware county state representative, and Burl A. Madill, farmwere named receivers here today for the Lincoln Bank and Trust Company, which failed here Saturday night. The were made by Judge Guthrie of the Circuit court and the receivers were placed under $50,000 bond.

3. April 3, 1930 The Star Press Muncie, IN
Article from The Star Press, April 3, 1930

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Article Text

BANK RECEIVERS Continued From First Page. surance from all other banks in the city that the receivers and the court will have their hearty co-operation to the end that the liquidation of the affairs of the Lincoln Bank and Trust Company will result in the very least possible loss to the creditors and depositors thereof. Early yesterday morning issues arising through the receivership proceedings were formed and consent the appointment was given by the bank through Walter D. White, attorney for the The inventory of assets and liabilities made public early this week places liabilities at with assets totaling Capital stock totaling $50,000 is distributed among nearly 100 stockholders. outstanding aggregate it lieved that these can all be collected. "that would be unusual. persons familiar with adjustment of the affairs of defunct banking concerns Stockholders may be assessed. under certain to assist in liquidation of the affairs.

4. April 10, 1930 Muncie Evening Press Muncie, IN
Article from Muncie Evening Press, April 10, 1930

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Article Text

BANK RECEIVERS DROP FIRST NOTE ACTION When settlement was made out of court, suit filed by D. Miltenberger and Burl Madill, receivers the Lincoln Bank and Trust Company, foreclose note given by Nora Williams Tobias, formerly this city and now Glendale, Calif., and to attach funds deposit the Delaware County National Bank, was dismissed Thursday. The suit the first filed in connection will liquidation of the affairs of the bank.

5. October 26, 1930 The Star Press Muncie, IN
Article from The Star Press, October 26, 1930

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Article Text

RECEIVERS FILE SUITS ON NOTES Means of Assembling Lincoln Bank's Assets. Forerunner of what persons, firms corporations owing notes to the Lincoln Bank and Trust Company, now in the hands of Circuit Court Judge Guthrie tended authority the receivers, and Madill, institute suits for the notes. Suits entered in large number cases for the collection notes, was afterwards announced, sembling the bank's will the law firm McClellan and Hensel, counsel for the bank's Shortly before yesterday suits numbered among the holdings that turned the tered These the amount manded judgment each case, brought against defendants Ernest Arthur Talbott Landis and Bank Wheeler Wheeler Glen Snider William and Bessie Watson. $140; William H Wood, $500 Charles Russey and $200; Veron Petro John $455: Fred Newman. $425, and Ernest Haynes and Jessie $550 Judge Guthrie announced yesterday that on bank claims morning may occupy the entire week. Continued Page.

6. January 14, 1931 The Star Press Muncie, IN
Article from The Star Press, January 14, 1931

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Article Text

BANK MOVE TO STREET D. Miltenberger and Madill. receivers Lincoln Bank and Trust Company. have removed their headquarters from the bank room Main and Mulberry streets East Washington street where all of the will be transacted the the former location. having business relating to the up the affairs are requested call the new location

7. June 6, 1931 Muncie Evening Press Muncie, IN
Article from Muncie Evening Press, June 6, 1931

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Article Text

BANK MAY EXECUTE On the petition of Jacob Miltenberger, receiver Lincoln Bank and Trust Company, Judge Guthrie in circuit court Friday modified previous court order, directing institution of suits against the bank stockholders had paid stock assessments by June Sixteen stockholders have settled under the modified order, the others have until June per cent their liabilities execute notes payable August September and November for the

8. August 22, 1931 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, August 22, 1931

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Article Text

STOCK OWNERS SUED Receiver of Muncie Bank Seeks Recovery of $5,350. By Times Special MUNCIE, Ind., Aug. 22.-Jacob C. Miltenberger, receiveer for the Lincoln Bank and Trust Company, has filed liability suits against seven holders of capital stock in the institution. Suits ask a 100 per cent assessment and seek recovery of a total of $5,350. Defendants are George Bowers, Florence Elison, Cary Gwaltney, Effie Hiatt, James McCormick, Charles L. Murray and Robert Roof.

9. July 27, 1932 The Star Press Muncie, IN
Article from The Star Press, July 27, 1932

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Article Text

BANK RECEIVER FILES SEVEN SUITS ON NOTES and all makes furnaces will be Seven suits on notes were filed in cleaned and repaired. Circuit Court yesterday by Miltenberger, receiver for the Lincoln Bank and Trust Company, defunct Muncie banking institution. Ten notes in all are involved. Judgments sought include, $75 against Wilbur and Susie Ann Collins; $380 from George DeWitt; $55 from Reland Jones and William Welling: $40 from Benjamin E. Danner; $90 from Benjamin E. Danner and Charles Hofer: $60 from Bettie Williamson, and $60 from Nelson and Howard B. Nelson.

10. May 5, 1933 The Star Press Muncie, IN
Article from The Star Press, May 5, 1933

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Article Text

Denies Forging Father's Name To $296 Note William E. Jones, automobile salesman, charged in grand jury indictment with forgery, denied before a jury in the Circuit Court yesterday that he forged the name of his father, Isaac L. Jones to a note for $296 on October 26, 1929. The note, unpaid, is part of the assets of the Lincoln Bank and Trust Company. The alleged forgery was revealed by the father, when J. D. Miltenberger, receiver for the bank, brought suit for its collection and he denied having signed it as surety. Insists Father Signed Note. Yesterday the elder Jones again asserted in court that he did not sign the note involved and branded his signature on the instrument as forgery. The son, however, insisted that it was signed by his father. The defendant had not been cross-questioned by state's attorneys, Paul E. Leffler and O. M. Rearick, when court was adjourned last night until this morning. Jones who on Wednesday had sought a second continuance of the trial booked to start yesterday morning. appeared with Tod Whipple, local attorney, yesterday and filed a motion for change of venue from Judge L. A. Guthrie. The motion was denied it had not been filed within the time specified by law, and Attorney Whipple, who had entered the case only Wednesday night, then withdrew his appearance. Lincoln Lesh, as county attorney for the poor, is defending Jones. Jurors sitting in the trial include W. B. Legg, John W. Limbert, Carl Ennis, Carl Acker, Thomas Miller, Harry McCreery, Claude Bartlett, Lloyd Giffin, Merrell Richey, Lafe Pugsley, Donal Fisher and Willie Pence.