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Withdrawals Close Hammond Bank HAMMOND, Ind., Feb. 2 (I.N.S.).-The First Trust and Savings Bank of Hammond, largest bank in Lake county, Ind., was closed today by the board of directors and taken in charge by J. E. Meyer, State bank examiner. Heavy withdrawals in recent weeks was given as the reason for the action by the board of directors. The bank had a capital of $1,000,000 and a surplus of $1,000,000 and deposits of about $5,000,000.
PROMINENT BANK OF NORTH INDIANA FAILS Needs of DeposiBlamed for Closing Ind., Feb. Trust and Savings bank Hammond, the largest bank Northwestern closed day as the result of $630,000 drawals during last 10 days. The closing caused the Hammond National bank federal institution, obtain $250,000 from Chicago meet the demands Its depositors Withdrawals from the and Savings which had resources were due pressing needs of depositors and on the bank, according President Peter W. Meyn. Thomas Barr, chief bank examiner, announced Indianathat he Intended take charge of the closed bank, the ever Deposits the First Trust and bank $1,000,000 and
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MAN TO GIVE UP WEALTH Indiana Banker to Use Cash to Save Depositors From Loss. CHICAGO, February 10 (AP)-The Herald and Examiner said today that Peter Meyn, often referred to as one of Indiana's wealthiest citizens, would voluntarily turn over his fortune to save depositors and stockholders from loss in the closing of the First Trust & Savings Bank of Hammond, Ind. Mr. Meyn is president of the institution. The newspaper said Mr. Meyn's decision followed a meeting of the board of directors last night. The bank was closed a week ago. Withdrawal of $660,000 within a few days by large depositors and the deflation of real estate values were blamed.
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DOORS CLOSED CHICAGO, Feb. 11. (AP) - The First Trust and Savings Banks of Hammond, largest bank in northwestern Indiana, with deposits of $5,700,000 and resources of $9,400,000 failed to open its doors following large withdrawals by its major depositors.
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Bank Receiver Hopeful By Times Special HAMMOND, Ind., May 8.-Hope that a dividend may be paid to depositors of the closed First Trust and Savings bank in sixty days is expressed by A. Murray Turner, one of the joint receivers.
Bank Receiver Hopeful By Times Special HAMMOND. Ind., May 8.-Hope that a dividend may be paid to positors of the closed First Trust and Savings bank in sixty days is expressed by A. Murray Turner, one of the joint receivers.
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Bank Case to Be Shifted By Times-Special HAMMOND, Ind., June 2.-A change of venue from Lake county is scheduled to be granted Friday in a suit whereby A. Murray Turner and William C. Belman, receivers for the closed First Trust and Savings bank, seek to assess 233 stockholders for a total of $1,000,000.
Bank Receivers Plan To Liquidate Assets HAMMOND, June Murray Turner and Belman, receivers of the First Trust and Savings Bank of Hammond, the $7,000,000 institution which closed its doors in February, today announced that the liquidassets for the depositors will All bills payable of the bank have been disposed and dend of ten per cent is expected.
SMITH DELAYS HEARING UNTIL MEET IS HELD [SPECIAL TO THE TIMES] CROWN Oct. Judge Martin Smith of the Criminal this granted Monday, October 26, the Alderman Frank Seliger, of for special to conduct other grand jury the failure of the First Trust and Savings Merritt D. Metz, Hammond atAlderSeliger and who is demanded special prosecutor, appeared before Judge Smith today to ask for is to be the High School Friday night permit depositors organize fund proposed investigation. therefore asked the court this had been done. He pointed the meeting being held in conformance with the request of Judge Smith, himself, last depositors to this John chief deeputy prosecutor, who represented the the hearJudge set the Monday, October Judge thus far on this petition.
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Receivers Must Sue Selves By Times Special HAMMOND, Ind., Dec. 19.-Under an order of Superior Judge Clyde Cleveland, A. Murray Turner and W. C. Belman, receivers of the First Trust and Savings bank, must sue themselves in a case for $3,000,000 damages against officers of the closed bank. Murray and Turner were directors when the bank closed.
[SPECIAL TO THE TIMES] VALPARAISO, Ind., Jan. 16.—Sad news for 233 stockholders of the defunct $8,000,000 First Trust and Savings bank, of Hammond emanated from the Porter circuit court here yesterday when the receivers won the initial round in their fight to collect $1,000,000 from the shareholders under the double liability pro-
BOND HOLDERS FORECLOSE ON BRIDGE'S HOME W. Norman Bridge, former assistant secretary-treasurer of the First Trust and Savings bank and one of the defendants in criminal suits which grew out of the bank failure, today was named defendant in foreclosure proceedings filed in Hammond Superior court by Katherine Mueller, et al. The plaintiffs, who are represented by Attorney William J. Whinery, seek to collect on $10,000 worth of first mortgage bonds issued by Bridge to secure loans on his home in Hammond.
REPRESENTED BY SPECIAL ATTORNEYS Special attorneys will represent Clifford A. Etling and W. Norman Bridge, indicted officers of the closed First Trust and Savings bank, of Hammond, when they are arraigned before Judge Moses Leopold in the Jasper Circuit court at Rensselaer during the April term. Etling will be represented by George Hershman, of Crown Point, and Bridge, by Thomas Honan, of Seymour, former attorney general of Indiana. Seymour is the home of Bridge's wife.
WALTER MEYN REMAINS SAME Prison Office Says Hammond Man Is in No Immediate Danger [SPECIAL TO THE TIMES] MICHIGAN CITY, Ind., Feb. 26.—Walter E. Meyn, Hammond banker, was reported to be "holding his own" this morning in the state prison hospital here. He is ill with pneumonia. "Unless complications set in, he is in no immediate danger," an attache in the warden's office informed The Times. "He is about the same today that he was yesterday," she added. According to statements released by the warden's office yesterday afternoon, Walter was showing some improvement. The young Hammond banker was visited by his parents, Mr. and Mrs. Peter W. Meyn yesterday. The Rev. Walter F. Lichstinn, pastor of the St. Paul's Evangelical church of Hammond, also visited the sick man. He is serving a 2 to 14 year term on a plea of guilty to charges of unauthorized loans while he was vice-president of the defunct First Trust and Savings bank of Hammond.
Death Claims Young Banker (By Associated Press) MICHIGAN CITY, Ind., Feb. 27. Walter E. Meyn, 33, former Ham. mond, Ind., bank executive died to day in the prison to which he went shield his father from similar fate. Young Meyn, a victim of pneumonia, was February to from two to 14 years in Indiana state prison here on his plea of guilty to making unauthorized loans vice president of the closed First Trust and Savings Bank of Hammond. His father, Peter Meyn, 65, head of the $8,000,000 institution, pleaded guilty to the same charge but young Meyn said the blame was all his. He had expected to return to court and plead for leniency when his father was
[SPECIAL TO THE TIMES] CROWN POINT, Ind., June 24.—Peter W. Meyn, president of the closed First Trust and Savings bank of Hammond, who received a suspended sentence of 2 to 14 years in the state prison on a plea of guilty to unauthorized loans in the Jasper Circuit court yesterday, will be ar-
[SPECIAL TO THE TIMES] CROWN POINT, Ind., June 24.—Peter W. Meyn, president of the closed First Trust and Savings bank of Hammond, who received a suspended sentence of 2 to 14 years in the state prison on a plea of guilty to unauthorized loans in the Jasper Circuit court yesterday, will be arraigned on another of the 17 pending indictments against him during the September term of the Jasper Circuit court, Prosecutor Robert G. Estill's office reported this morning.
NEW CHARGE IS LODGED FOR MAKING LOANS [SPECIAL TO THE TIMES] CROWN POINT, Ind., June 28.--Another charge of unauthorized loans was lodged yesterday against Peter W. Meyn, president of the closed First Trust and Savings bank of Hammond, by Prosecutor Robert G. Estill. Mr. Estill said he will seek to try Mr. Meyn during the September term of the Jasper Circuit court at Rensselaer, but that he will contest Judge Elmore Barce as the presiding judge. Judge Barce last week suspended a sentence of 2 to 14 years and a fine of $3,200 against Mr. Meyn on the same charge after a physical examination of the aged defendant revealed that he was in poor health. The court intimated that he would do likewise with all other counts filed against Mr. Meyn. The latest charge filed by Prosecutor Estill yesterday is one of the remaining 17 counts in the indictments voted against Mr. Meyn by the Lake grand jury last year.
DATE FOR BANK AID PLAN FIXED A date for discussing the adoption of South Bend's bank aid plan in Hammond is expected to be established today with Superior Court Judges Virgil S. Reiter and Clyde Cleveland, Horace S. French, receiver of the First Trust and Savings bank, declared today.
BANK RECEIVER SUES. Seeks to Recover $2,000,000 From Two Directors. Chicago, Dec. 30.-The receiver for the First Trust and Savings Bank of Hammond, Ind., filed suit in federal court yesterday for $2,000,000 damages from Timothy W. Evans. managing vicepresident of the New York Central railroad, and Henry P. Conkey, president of the W. B. Conkey Printing company of Chicago and Hammond. The bill charged the defendants "as directors of the bank before it e losed Feb. 2. 1931, through neglect and illegal conduct. permitted Peter /w. Meyn. former president of the bank. to embezzle funds through illegal loans."