gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
bbfaff3b3b904713
Response Measures
None
Description
A separate new Calumet State Bank opened later in 1933 in the old quarters; the original State Bank remained in liquidation.
Events (5)
1.January 1, 1932*Other
Newspaper Excerpt
Theodore Moor ... was named liquidating agent. Barr said the bank was in such condition as to permit its reopen- The bank will be open for all today, the receiving and paying deposits, Anthon Tapper, president. The date for of be announced soon, Tapper said.
Source
newspapers
2.January 2, 1932Receivership
Newspaper Excerpt
He (Moor) immediately appointed liquidating agent for Institution ... He has been liquidating assets since that time . . . Shortly after the institution was placed in liquidation, the state banking declared it in good shape and that the department would aid in plan to open the ... Anton Tapper was president of the State Bank until he affiliated the Hammond National Bank Trust company its president.
Source
newspapers
3.January 2, 1932Suspension
Cause
Local Banks
Cause Details
Directors closed State Bank of Hammond on Jan 2 to conserve assets after Hammond National Bank and Trust failed.
Newspaper Excerpt
The bank was closed by order of the board of directors on Jan. 2 when the Hammond National Bank and Trust company failed.
Source
newspapers
4.February 24, 1933Other
Newspaper Excerpt
The newly organized Calumet State Bank Hammond will opened for business in the quarters formerly occupied by the suspended State Bank of Hammond ... Mr. Moor cashier the Bank Hammond. He liquidating agent for Directors of the bank ... $25,000.
Source
newspapers
5.March 28, 1935Other
Newspaper Excerpt
The first payment of the $17,000 dividend which the defunct State Bank of Hammond will distribute among depositors, was started today, Frank C. Holman, liquidating agent, announced this morning.
Source
newspapers
Newspaper Articles (21)
1.January 16, 1932The TimesHammond, IN
Article Text
BANK REPORT AS TO OPENING PREMATURE
No Definite Plans Perfected to Reopen State Bank of Hammond
Published reports that the State Bank of Hammond is to be reopened Feb. 1, were branded as premature and unfounded by Theodore Moor, cashier, this morning.
He said no definite plans have been perfected yet to reopen the institution and that just as soon as they are, they will be released officially by Anton Tapper, president of the institution.
The bank was closed by order of the board of directors on Jan. 2 when the Hammond National Bank and Trust company failed. This step was taken by the directors of the State Bank of Hammond to conserve assets.
The reported at the time that in their opinion the State Bank of Hammond was solvent and that steps would be taken immediately to reopen the bank.
According to published reports, Thomas D. Barr, of Indianapolis, deputy state banking commissioner, has approved the reopening plan.
This announcement followed the release of the report which the appraisers, L. R. Hutchinson and John Rohde, of Hammond, had made. The appraisal reported the bank to be in sound condition at the time of closing.
President Tapper and Mr. Moor are declared to have raised $150,000 to fortify the bank when it is reopened, but Mr. Moor refused to comment on this today.
2.January 16, 1932The TimesHammond, IN
Article Text
BANK REPORT AS TO OPENING PREMATURE
No Definite Plans Perfected to Reopen State Bank of Hammond
Published reports that the State Bank of Hammond is to be reopened Feb. 1, were branded as premature and unfounded by Theodore Moor, cashier, this morning.
He said no definite plans have been perfected yet to reopen the institution and that just as soon as they are, they will be released officially by Anton Tapper, president of the institution.
The bank was closed by order of the board of directors on Jan. 2 when the Hammond National Bank and Trust company failed. This step was taken by the directors of the State Bank of Hammond to conserve assets.
The reported at the time that in their opinion the State Bank of Hammond was solvent and that steps would be taken immediately to reopen the bank.
According to published reports, Thomas D. Barr, of Indianapolis, deputy state banking commissioner, has approved the reopening plan.
This announcement followed the release of the report which the appraisers, L. R. Hutchinson and John Rohde, of Hammond, had made. The appraisal reported the bank to be in sound condition at the time of closing.
President Tapper and Mr. Moor are declared to have raised $150,000 to fortify the bank when it is reopened, but Mr. Moor refused to comment on this today.
3.January 25, 1932Journal and CourierLafayette, IN
Article Text
BANK AT HAMMOND TO REOPEN DOORS
HAMMOND, Ind. Jan. State Bank Hammond, which closed January after heavy the tion to for business today The bank was turned back to its officers Saturday Thomas bank examiner, and Barr, state Theodore Moore, cashier, was named liquidating agent. Barr said the bank was in such condition as to permit its reopen-
The bank will be open for all today, the receiving and paying deposits, Anthon Tapper, president. The date for of be announced soon, Tapper said.
4.February 20, 1932The Llano ColonistNew Llano, LA
Article Text
A RECORD YEAR FOR BANK FAILURES
Bank failures reached a record total of 2,302 in the United States in 1931, according to figures given by the American Banker. Net deposits of $1,580.000,000 were involved Bank failures and mergers led to a reduction in the number of banks in the country to 20,700 at the end of the year, with deposits of approximately $50,000,000,000.
With the increasing number of bank failures, the point has been reached where quite a number of cities are completely without banks. In Hammond, Ind., where there used to be seven banks, for instance, every bank has been closed, the last two to fail being the National Bank of Hammond and the State Bank. Only one bank was open for business last month in nearby Gary.
Iowa City also joined the growing list of bankless midwest cities on January 20, as two banks closed there. In Urbana, Ill., a five-day "emergency holiday" had to be ordered by the mayor to halt hysteria brought on by bank suspensions in Champaign and Urbana.
Meanwhile American bankers are taking alarm at the increasing number of depositors who seek safety in the government postal savings department, despite its low rate of interest. A recent letter from the chairman of the New York State Bankers Association to member institutions calls on them to bring pressure on Congress to curtail government expenditures and points out that it is wrong in principle that the government should operate a banking business in competition with privately owned institutions..
Deposits of government savings banks have increased thruout the United States since 1929 from $167,800,000 to $596,660,000 on December 31, 1931. This represents a new record, according to post office officials, being $68,000,000 more than on November 30, and almost three times the amount on deposit in November, 1930.
5.May 17, 1932The TimesHammond, IN
Article Text
MONEY USED FOR DIVIDEND
Any shareholder who fails to do either of these two things, will be forced to pay the legal rate of interest, plus the par value of the stock, Mr. Nattkemper said.
This money will be used to pay a dividend to depositors. Mr. Nattkemper declared he is not in a position yet to ascertain when a dividend will be authorized.
The bank failed January 2. Its failure caused the directors of the State Bank of Hammond to close that institution. The Hammond National and the State Bank of Hammond were the last two remaining banking institutions in the city. Hammond has since been without banking facilities.
Attempts now are being made to open a new bank in the city, but nothing definite has materialized as yet.
6.May 24, 1932The TimesHammond, IN
Article Text
MERCHANTS HOLD CONFERENCE OVER A HAMMOND BANK
A group of Hammond merchants held a private conference last night to discuss plans for opening a new bank in the city. It is understood that Roland Fox, operator of a men's furnishing store, was authorized to accept applications from local merchants for capital stock in the bank.
Mr. Fox was called, but he referred the reporter to Bruce Vernon, plant manager of Lever Brothers company in North Hammond. Mr. Vernon's secretary reported that he was out of town for the day.
If the plan of the merchants is successful, it is reported that they will ask industrialists of the city to cooperate with them in opening a new bank.
The plans of still another group to open a new bank in the city have been completed, but they now are awaiting the drafting of a favorable lease for banking headquarters. This group includes two or three local men and several down-state capitalists.
Officers of the State Bank of Hammond still are trying to reopen that institution. They are awaiting word from the Chicago office of the Federal Reconstruction Finance corporation on their application for a loan fo $200,000.
Theodore Moor, former cashier of the bank who is now serving as liquidating agent, reported recently that the Chicago officers of the corporation will meet soon with a committee of the bank and that the loan will be discussed at length at that time. In event it is forthcoming the State Bank of Hammond will reopen.
7.May 24, 1932The TimesHammond, IN
Article Text
MERCHANTS HOLD CONFERENCE OVER A HAMMOND BANK
A group of Hammond merchants held a private conference last night to discuss plans for opening a new bank in the city. It is understood that Roland Fox, operator of a men's furnishing store, was authorized to accept applications from local merchants for capital stock in the bank.
Mr. Fox was called, but he referred the reporter to Bruce Vernon, plant manager of Lever Brothers company in North Hammond. Mr. Vernon's secretary reported that he was out of town for the day.
If the plan of the merchants is successful, it is reported that they will ask industrialists of the city to cooperate with them in opening a new bank.
The plans of still another group to open a new bank in the city have been completed, but they now are awaiting the drafting of a favorable lease for banking headquarters. This group includes two or three local men and several down-state capitalists.
Officers of the State Bank of Hammond still are trying to reopen that institution. They are awaiting word from the Chicago office of the Federal Reconstruction Finance corporation on their application for a loan fo $200,000.
Theodore Moor, former cashier of the bank who is now serving as liquidating agent, reported recently that the Chicago officers of the corporation will meet soon with a committee of the bank and that the loan will be discussed at length at that time. In event it is forthcoming the State Bank of Hammond will reopen.
8.January 30, 1933The TimesHammond, IN
Article Text
STATE BANK REPORTS ARE PREMATURE
Liquidating Agent of Bank Silent On Plans for Institution
Reports that the suspended State Bank of Hammond would opened characterized "premature" today Theodore Moor, former cashier of the tution, who now serving uidating nothing to at this time," Mr. Moor declared. When asked not he had made application to the state charter board for charter, Moor repeated that he had nothing present. will release an official nouncement definite transpires," Mr. Moor said. This bank closed January 1932, time that the Hammond National Bank company suspended Mr. Moor immediately appointed liquidating agent for Institution by He been that time addition to erating currency exchange in the banking quarters. Last summer applied to the Finance loan $200,000 which reopen the Lengthy negotiations followed. but nothing defimaterialized. reported that curity for loan than the bank able to furnish. Shortly after the institution was placed liquidation, state banking declared it in good shape and that the departwould in any plan to open the Anton Tapper was president of the State Bank until he affiliated the Hammond National Bank Trust company its president.
9.January 30, 1933The TimesHammond, IN
Article Text
STATE BANK REPORTS ARE PREMATURE
Liquidating Agent of Bank Silent On Plans for Institution
Reports that the suspended State Bank of Hammond would be reopened soon were characterized "premature" today by Theodore Moor, former cashier of institution, who now is serving as liquidating agent. have to this time," Mr. declared. When asked whether or not he had made application to the state charter board for charter, Mr. Moor repeated he nothing to at present. release an official announcement as soon as definite transpires," Mr. Moor said. This bank was closed January same time that the Hammond National Bank and Trust company operations, Mr. Moor appointed liquidating agent his institution by banking department. He has been liquidating assets since that time addition operating currency exchange in the banking quarters. Last summer he applied to the Finance for loan of $200,000 which to reopen Lengthy negobut definite reported that the curity the than the bank able furnish. Shortly after the institution placed in liquidation, the state banking in good shape and that the department would aid in plan to open the Anton Tapper president of the State Bank of Hammond until he became affiliated with the Hammond National Bank Trust company its president.
10.February 24, 1933The TimesHammond, IN
Article Text
MOOR NAMED DEFENDANT
Theodore Moor, cashier of the suspended State Bank of Hammond action for $1,500 District receiver for defunct First National Bank of Gary Moor being sued for liability shares stock the institution $300 interest. Force, filed the action for Receiver
11.February 24, 1933The TimesHammond, IN
Article Text
NEW BANK WILL OPEN MARCH
The newly organized Calumet State Bank Hammond will opened for business in the quarters formerly occupied by the suspended State Bank of Hammond Calumet avenue. Joseph Meyer, president of the Indiana Botanic Gardens, Hammond, head the banking institution president and the chairman of the board of directors. and Moor Mr. Moor cashier the Bank Hammond. He liquidating agent for Directors of the bank Joseph William Eric Haehnel, HeckleLeo Harold Meyer and Charles Scott. The bank by the state the forepart month $25,000. According Mr. Meyer, will Hammond erated exclusively by Hammond terests business men.
12.March 5, 1933The Pittsburgh PressPittsburgh, PA
Article Text
Nation Seems to Take Bank Closings As Another Joke; Roosevelt Urged to Substitute Scrip for Currency
Newspaper Proposes Plan in Open Letter to President
By The United Press
CHICAGO, March 4—There were splashes of good humor and cheerfulness in America's bank holiday tonight, belying gloomy fears expressed before the holiday became general.
In many communities the atmosphere was more that of an English bank holiday than of a grave financial moratorium. On trolley cars, in offices and in stores was a community of feeling that drew strangers closer together.
Quickly it was discovered the holiday had a lighter and in some instances comic side. Small towns and big cities alike were "carrying on" with slight interruption in normal activities.
Interest turned to situations like that in Huntington, Ind., where the only bank in town remained open until militia forced it to close.
Cities where a few months ago the situation had been darkest became overnight the brightest spots in the country.
At Hammond, Ind., where there had been no bank for months, the new Calumet State Bank opened today for business for the first time.
The Calumet State took its place beside the Mercantile Bank, open for business today despite the crisis.
Michigan's Turn to Grin
Michigan citizens grinned when the predicament of the rest of the nation was revealed. Michigan was the first state to call a bank holiday, and citizens had learned that things went on much as usual whether banks were open or not.
Business firms quickly adapted themselves to the temporary stringency of cash. Marshall Field and Company, Chicago's largest department store, had an ample supply of cash for change. Other stores asked customers to co-operate by giving the exact change.
Postoffices became a kind of temporary banks in the crisis. Citizens thronged to postal offices in large cities for change. Many deposited cash in the postal savings banks. Others bought money orders to be used in lieu of checks.
Credit Slips Issued
Indiana bankers issued credit slips in $1, $5 and $100 denominations. These circulated as currency. Some stores resorted to barter and trade, accepting oats, corn, wheat, hogs or cattle for groceries and meats.
A scrip bank organized in Oklahoma City announced it would issue fiat money for week-end payments. The North Dakota Legislature rushed to the Governor a bill providing for printing state scrip. The Governor also declared a debts moratorium.
Street car tokens in some instances were used for money in St. Paul.
Many Wisconsin banks prepared to reopen Monday with scrip in the form of clearing house certificates.
Program Would Have Banks' Cash Back Up Artificial Money
banks closed or limiting withdrawals and the size of checks that may be written.
"The so-called moratoria only increase the panic, and result in greater demand for currency and gold. The solution lies in the substitution of scrip, backed by the assets of the banks, for currency."
The Journal-Post said scrip would not be hoarded, but would be used to transact business as in normal times, and the return to a normal currency system as business improved would be simple.
A plan under which the Federal Reserve system would serve all banks in replacing currency with secured scrip was suggested.
13.March 5, 1933The Pittsburgh PressPittsburgh, PA
Article Text
until militia forced it to close.
Cities where a few months ago the situation had been darkest became overnight the brightest spots in the country.
At Hammond, Ind., where there had been no bank for months, the new Calumet State Bank opened today for business for the first time. The Calumet State took its place beside the Mercantile Bank, open for business today despite the crisis.
Michigan's Turn to Grin
Michigan citizens grinned when the predicament of the rest of the nation was revealed. Michigan was the first state to call a bank holiday, and citizens had learned that things went on much as usual whether banks were open or not.
Business firms quickly adapted themselves to the temporary stringency of cash. Marshall Field and Company, Chicago's largest department store, had an ample supply of cash for change. Other stores asked customers to co-operate by giving the exact change.
The Standard Oil Company of Indiana continued to accept cash and checks as usual, met payrolls in cash and other obligations with checks.
Church Collections Stop
In Milwaukee ministers agreed they would not pass collection plates until the crisis was over. In several cities lectures were postponed because citizens were short of cash.
Employes in Chicago and Milwaukee received pay—in some instances long overdue—but payment was by check, and few places were cashing checks.
ment on demand in cash and final credit therefor to our bank account."
3—Accept United States Treasury checks, money orders, city and state checks on account unless local situation dictates otherwise.
4—Allow no refunds in cash unless proof positive cash was originally paid; if customers paid by check allow refund only by check.
5—Mark cash sales made during moratorium to indicate whether paid by check or actual currency.
6—Have collectors carry two pads of receipts—one for cash payments and one for checks.
7—Where old and new accounts in banks are set up, make customers give proof regarding checks on new accounts.
14.March 16, 1933The TimesHammond, IN
Article Text
RESTORED CONFIDENCE REPORTED BY
Deposits Exceed WithdrawBy Ratio of 2 to 5 to 1
Restored confidence in the soundness of Lake county's banking institutions was reported by executives this morning in recounting the business turn-over yesterday-the first day of their reopening following a nine-day moratorium. Deposits, ranging from four times in more than were reported by each institution. In every Instance, the bankers stated that confidence W. W. president the Gary State bank. which is largest banking institution in Lake county. reflected the general tenor of statements the remarks: NEARLY NIL could not for better day. Our deposits approximated $400,000 and our in almost nil. Customers an excellent of mind. cheerful contrasted their attitude just before the declared. An even more optimistic ment came from G. Elam, president and cashier of the Mercantile Bank of Hammond. seen better spirit in my 20 years of banking experience than that which prevailed yesterday in our Mr. said. "In my opinion, fear has been routed and confidence stored. We look forward to the future optimism." Mr. Elam said deposits in his He excess of Theodore cashier of the Calumet State Bank of reported deposits withdrawals by five tainly surprised by the markable accorded bank by depositors and customers alike. letter day in the history of Hammond and fairly that (Continued on Page
15.March 16, 1933The TimesHammond, IN
Article Text
Lake OMINOUS Co. Banks Over Business Received Happy WARNING KIDNAPED CHILD BACK UNHARMED CRACK PENNSY RESTORED ECONOMY FLYER IS PARTLY CONFIDENCE BILL NEAR DERAILEDINGARY BY VICTIM REPORTED ITS FINAL
Deposits Exceed Withdrawals By Ratio of 2 to 5 to 1
Restored confidence in the soundness of Lake county's banking institutions was reported by executives this morning in recounting the business turn-over yesterday-the first day of their reopening following a nine-day moratorium. Deposits, ranging from to four times withdrawals, and, in one case, more than that. were reported by each institution. In every the bankers stated that restored. W. W. Gasser, president of the Gary State which now the largest in Lake reflected the tenor of statements the NEARLY NIL could not for better day. Our mated $400,000 our comparison, almost nil tomers were in an excellent of mind. They hopeful, contrasted their dark attitude just before the declared. An even more optimistic statement came from Elam, vice president cashier of the Merof better spirit in my years of experience than that which prevailed yesterday institution," Mr. Elam said. opinion, fear been routed and confidence stored. We forward to the future considerable optimism." Elam said deposits his $50,000 He continued excess of deposits withdrawals. Theodore Moor, cashier of the Calumet State Bank reported deposits drawals by to tainly surprised by the markable response accorded bank depositors and customers red letter day in the history of Hammond and indicates, fairly conclusively, that (Continued Page
Double Fatality Results From South Shore Crash Last Night
Astrology's ominous prophecy to Blair Williams, 35. Chicago, an automobile mechanic, was borne out today as his body and that of a companion, Dorland S. McEvers, 34, lie in Hammond morgue, victims of a grade crossing crash at Calumet avenue and the South Shore interurban tracks in Hammond last night. Both died being rushed police shortly after they were riding crashed through the lowered gates and struck westbound The bodies found about the point intersect those of the railroad. The totally demolished, carried along the 500 by the impact of the colliMotorman H. Ireland, of told authorities the safety shut the impact of the Conductor Michigan City, verified this
ARNING PAPER queer twist fate first that police came across person when on which Sign of Taurus. Your March are 20, 29. adverse days for are and # Take no chances the days. Favorable days to start things Under date small in terday was March 15, the of according Coroner Andrew Hofmann, the result crushed skull, while panion succumbed compression is of not the their bodies being after viewing the demolished chine."
POLICE PUZZLED to how the happened which, it belonged to H. of LaGrange, Continued Page
16.May 25, 1933Vidette-Messenger of Porter CountyValparaiso, IN
Article Text
Myen bank) receiver, of Hashmond disposing of its real estate, will the speaker Friday evening at o'clock the Chamber of ComThe Porter County Estate Board having Mr. Real and to the Trescott to Valparaiso, interested of the best considered the Calumet Disinformed men in the actual conditions trict on estate. will be "Cal Mr. Trescott's topic District Coming Back," umet will us of though Valthe World's Fair Calumet Disand the entire paraiso trict. Since he has had such direct Bank of Hamtouch Myen failure, in helping mond since its real holdings, dispose of its with authto speak Mr. Schlethe district. throughout the local Board man, president welcome any extends hearty attend citizens meeting.
17.August 13, 1934The TimesHammond, IN
Article Text
HOLMAN MOVES HIS OFFICE
Frank C. Holman, liquidating agent for the defunct State Bank of Hammond, removed his offices from the banking building on Calumet avenue to room 205 of the Lloyd building on Hohman avenue.
The removal was made necessary because the Lincoln National Life Insurance company, which now owns the Calumet avenue property, wishes to use the building for its own purposes.
Mr. Holman will liquidate the bank in the future from his new office.
The use to which the Lincoln National Life Insurance company will put the banking structure on Calumet avenue, was not announced officially this morning, but it is thought the building will be used as Hammond headquarters for the company.
The company now is maintaining an office in the Northern States Life Insurance company building on South Hohman avenue, the property it acquired when it purchased assets of the latter firm.
18.March 28, 1935The TimesHammond, IN
Article Text
1ST PAYMENT OF $17,000 SPLIT IS STARTED TODAY
Frank C. Holman Liquidating Agent of State Bank Announces Plan
The first payment of the $17,000 dividend which the defunct State Bank of Hammond will distribute among depositors, was started today, Frank C. Holman, liquidating agent, announced this morning.
He said the payment is being made to depositors whose last names begin with the initials from A to H inclusive. Dividend notices to those depositors were placed in the mail early this week, according to Mr. Holman.
He will mail the next batch of notices before the end of this week to depositors whose last names begin with the initials from I to P, inclusive. And next week, he will mail the remainder of the notices.
Mr. Holman requests depositors to wait for their notices before they apply for dividend checks.
The disbursement represents 5 per cent of the depository balance on hand and is the first declared by the bank since it was closed almost four years ago.
It was authorized by the state department of financial institutions, which maintains jurisdiction over liquidation, and it was approved last Monday by Hammond Superior court No. 5. Approximately 4,500 depositors will share in the dis-
19.March 28, 1935The TimesHammond, IN
Article Text
1ST PAYMENT OF $17,000 SPLIT IS STARTED TODAY
Frank C. Holman Liquidating Agent of State Bank Announces Plan
The first payment of the $17,000 dividend which the defunct State Bank of Hammond will distribute among depositors, was started today, Frank C. Holman, liquidating agent, announced this morning.
He said the payment is being made to depositors whose last names begin with the initials from A to H inclusive. Dividend notices to those depositors were placed in the mail early this week, according to Mr. Holman.
He will mail the next batch of notices before the end of this week to depositors whose last names begin with the initials from I to P, inclusive. And next week, he will mail the remainder of the notices.
Mr. Holman requests depositors to wait for their notices before they apply for dividend checks.
The disbursement represents 5 per cent of the depository balance on hand and is the first declared by the bank since it was closed almost four years ago.
It was authorized by the state department of financial institutions, which maintains jurisdiction over liquidation, and it was approved last Monday by Hammond Superior court No. 5. Approximately 4,500 depositors will share in the distribution.
JOHN TOKARZ, F. H. A. FIELD representative, will speak at the meeting of the Franklin D. Roosevelt club tomorrow night in Irving school.
MAYOR MARTIN SAYS HE will think about a liquor board for Hammond only after he has received definite instructions from the state board.
CALUMET CITY PROPERTY owners who fail to pay the first installment of 1933 taxes before Monday, will be assessed a penalty of 4 per cent.
ED KLEIN IS ALMOST WILLING to make a fair bet that Pittsburgh will win the National league pennant, and Cleveland the American league flag.
HAMMOND HIGH BASKETBALL players are still eating frequently as guests of various boosters. They attended another dinner last night.
BOY SCOUTS OF ST. ANDREW'S church, Calumet City, will stage a minstrel show Sunday at the parish hall, 155th place and Freeland avenue.
HARRY WALKER, ARTHUR Brookman and Mack McGaughey are celebrating their simultaneous birthdays tonight. They've rented Long's hall and have invited all their friends.
HAMMOND BOY SCOUTS cleared about $250 from their recent "1935 Show Boat"; the money will be used for Scout activities. Approximately 3,300 saw the production during the three nights.
SIXTY-FIVE MEMBERS AND their wives and husbands of the Purdue Alumni club of the Calumet region enjoyed a pot-luck dinner, cards, entertainment and dancing at the Beth-El solarium Tuesday night.
20.March 28, 1935The TimesHammond, IN
Article Text
1ST PAYMENT OF $17,000 SPLIT IS STARTED TODAY
Frank C. Holman Liquidating Agent of State Bank Announces Plan
The first payment of the $17,000 dividend which the defunct State Bank of Hammond will distribute among depositors, was started today, Frank C. Holman, liquidating agent, announced this morning.
He said the payment is being made to depositors whose last names begin with the initials from A to H inclusive. Dividend notices to those depositors were placed in the mail early this week, according to Mr. Holman.
He will mail the next batch of notices before the end of this week to depositors whose last names begin with the initials from I to P, inclusive. And next week, he will mail the remainder of the notices.
Mr. Holman requests depositors to wait for their notices before they apply for dividend checks.
The disbursement represents 5 per cent of the depository balance on hand and is the first declared by the bank since it was closed almost four years ago.
It was authorized by the state department of financial institutions, which maintains jurisdiction over liquidation, and it was approved last Monday by Hammond Superior court No. 5. Approximately 4,500 depositors will share in the distribution.
21.March 28, 1935The TimesHammond, IN
Article Text
1ST PAYMENT OF $17,000 SPLIT IS STARTED TODAY
Frank C. Holman Liquidating Agent of State Bank Announces Plan
The first payment of the $17,000 dividend which the defunct State Bank of Hammond will distribute among depositors, was started today, Frank C. Holman, liquidating agent, announced this morning.
He said the payment is being made to depositors whose last names begin with the initials from A to H inclusive. Dividend notices to those depositors were placed in the mail early this week, according to Mr. Holman.
He will mail the next batch of notices before the end of this week to depositors whose last names begin with the initials from I to P, inclusive. And next week, he will mail the remainder of the notices.
Mr. Holman requests depositors to wait for their notices before they apply for dividend checks.
The disbursement represents 5 per cent of the depository balance on hand and is the first declared by the bank since it was closed almost four years ago.
It was authorized by the state department of financial institutions, which maintains jurisdiction over liquidation, and it was approved last Monday by Hammond Superior court No. 5. Approximately 4,500 depositors will share in the distribution.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.