Peoples Loan & Trust Company (Lafayette, IN)

Episode Information

Episode UID
71010571537
Episode Type
Suspension โ†’ Closure
Bank Type
trust
Bank ID
7101057 routing
Routing Number
71-0105
Start Date
January 10, 1928
Location
Lafayette, Indiana (40.417, -86.875)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
dac0365367d19679

Response Measures

None

Description

Officials closed the bank and receivers completed final accounting; indictments of former officers followed.

Events (3)

1. January 10, 1928 Suspension
Cause
Government Action
Cause Details
Closed by State banking officials; state examiners/authorities intervened
Newspaper Excerpt
Lafayette residents whose savings were deposited in the Peoples Loan, Trust and Savings Bank, closed by State banking officials, will receive 100 per cent on deposits
Source
newspapers
2. February 28, 1928 Other
Newspaper Excerpt
Briggs, former cashier, charged embezzlement. ... indictments ... result of failure of the People's Loan and B. of this city ... former state bank examiner ... under indictment on charge banker's embezzlement with the local failure, Judge Carr selected as judge
Source
newspapers
3. March 14, 1928 Receivership
Newspaper Excerpt
After approving the final report the receivers for the Peoples Loan and Trust company Wednes... the circuit court, highly praised the local banks, acted in this capacity ... The report filed shows on hand amounting $18,743.52 ... All creditors have been paid in full.
Source
newspapers

Newspaper Articles (3)

Article from The Indianapolis Times, January 10, 1928

Click image to open full size in new tab

Article Text

# DEPOSITORS ARE SAFE Lafayette Residents to Get 100 Per Cent From Closed Bank. Lafayette residents whose savings were deposited in the Peoples Loan, Trust and Savings Bank, closed by State banking officials, will receive 100 per cent on deposits, it has been announced. Each of the other banks in the city was named co-receiver on the request of officials of the defunct bank, and a quick response has been received from creditors.


Article from Journal and Courier, February 28, 1928

Click image to open full size in new tab

Article Text

SELECT FOWLER MAN FOR JUDGE B. B. Berry Selected for Trials of Two Defendants in Bank Case; Carr, for Other. Burton Berry, Fowler, Ind., and former judge the Benton circuit court, been lected special judge for the trial John McWilliams and that Clarence Briggs, both whom under indictment in the Tipresult of failure of the People's Loan and B. of this city selected as special judge, but declined serve. circuit court Tuesday, Judge Homer Hennegar, from whom attorneys the of submitted prospective judges. struck of Judge Brenton Devol Frankfort in each case. McWilliams Briggs cases, for the defendants struck off the name Judge left Judge the choice for forof the defunct pany charged perjury. Briggs, former cashier, charged embezzlement. In case of State vs. John Saunders, former state bank ex aminer, who under indictment on charge banker's embezzlement with the local failure, Judge Carr selected as judge, the attorney for the defendant striking the name of Judge Berry in this The case be tried first, the date set being April


Article from Journal and Courier, March 14, 1928

Click image to open full size in new tab

Article Text

Bank Receivers Complete Task And Get Praise Cash and Other Assets of Defunct Trust Company Go to R. C. Houston for Benefit of Stockholders. After approving the final report the receivers for the Peoples Loan and Trust company WednesJudge Homer Hennegar, the circuit court, highly praised the the local banks, acted in this capacity without and told them they had rendered greatest value the community, and especially to the court and the depositors and stockholders the defunct establishment. The report filed McAdams Schultz, attorneys the NEW RECEIVER NAMED The filed, shows on hand amounting $18,743.52, against this balance total $10,900 checks outstanding, leaving net cash $7,800. This to turned Houston, of the Savings bank, who was appointed receiver the bank's after Judge Hennegar discharged the former at the completion The total receipts handled by the former ceivers the dis$234,728.25. ASSETS REMAINING to turned the $39,695.52 mortgage loans, Otterbein real $2,460.50: unpaid stock sessments of stockholders, unpaid cash items, furniture and $340.50: Briggs surety bond, $5,000; cash on hand, making total of $89, less the ing All creditors have been paid in full.