La Porte Savings Bank (LaPorte, IN)

Episode Information

Episode UID
71018171020
Episode Type
Suspension → Reopening
Bank Type
savings
Bank ID
7101817 routing
Routing Number
71-0181
Start Date
December 25, 1884
Location
LaPorte, Indiana (41.611, -86.723)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6748dfa0c7a543b5

Response Measures

None

Description

Suspension appears to have been precipitated by the cashier's complaint to the state auditor; receiver appointed and later court-authorized reopening.

Events (2)
1. December 25, 1884 Suspension
Cause
Government Action
Cause Details
Cashier Jacob Vining reported transactions to the State Auditor alleging trustees' legal noncompliance; receiver (Seth Easton) was placed in charge.
Newspaper Excerpt
The LaPorte Savings Bank closed its doors and has been placed in charge of a receiver, Seth Easton.
Source
newspapers
2. February 5, 1885 Reopening
Newspaper Excerpt
Judge Noyes reappointed the entire old board of trustees... Business will be resumed on next Monday; ... The LaPorte Savings Bank Comes Out All Right, and Will Resume Business.
Source
newspapers

Newspaper Articles (11)
1. December 26, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, December 26, 1884

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Article Text

A SAVINGS BANK SUSPENDS. A LaPorte Institution Closes Its Doors, and a Receiver Takes Charge. The Assets Said To Be Ample, and Depositors Will Be Paid in Full-Some Peculiar Features of the Suspension. Special to the Indianapolis Journal. LAPORTE, Dec. 25.-The LaPorte Savings Bank closed its doors last evening, and was placed in charge of a receiver-Seth Eastonafter & fourteen years' existence. The assets are about $190,000; liabilities. $15,000 less. President John Sutherland gives assurance that depositors will be paid in full. Jacob Vining was the cashier, and, it is charged, caused the suspension by reporting to the Auditor of State some transactions wherein they had not strictly complied with the State law, his reason for SO doing being his intended removal by the directors.

2. December 26, 1884 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, December 26, 1884

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Article Text

Bank Closed. LA PORTE, Ind., Dec. 25.-The La Porte Savings bank has closed its doors and has been placed in charge of a receiver, Seth Easton. The assets are about $90,000; liabilities $15,000 lesss John Sutherland, president, says the depositors will be paid in full. It is charged Jacob Vining, the cashier, caused the suspension by reporting to the auditor of state some transactions wherein the bank had not strictly complied with the state law, his reasons for so doing being his intended removal by the directors.

3. December 26, 1884 Evening Star Washington, DC
Article from Evening Star, December 26, 1884

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Article Text

News Briefs. Men from Wilmot, Dakota, attacked District Attorney Lane's residence Wednesday night, near that city, with the intention of lynching him, but he was absent from home. Miles Ogle, a noted counterfeiter, was arrested at Memphis, Tenn., yesterday. He had about $10,000 in $10 counterfeit notes on his person when arrested. Mr. James B. Thomas, superintendent of the Consolidation coal company, died at his home, to Frostburg. Md., on Wednesday. A cry of "fire" caused a panic in Bunnell's museum. New Haven, Conn., yesterday. Several persons were injured in the rush to escape from the building. The North German Gazette, of Berlin, has an official note advising the abandonment of the scheme to raise a public fund to pay for an assistant for Prince Bismarck. In an interview in London a ynamiter is reported as saying that the headquarters of the conspirators IS in Paris, but that the funds come from America. Lawrence S. Kane, the financial editor of the New York Times, died Wednesday. Warrants are out for the arrest of Chas. E. Stephens, cashier of the Chicago, Wilmington and Vermittion coal company, who has been missing since last Friday, and is reported to be short in his accounts $20,000. The breach-of-promise suit of Miss Sallie Kimmel against Daniel E. Boyer was concluded at Pottsville, Pa., Wednesday, with a verdict of $3,000 damages for the plaintiff. Rev. Dents O'Donovan, ex-pastor of the Catholic church at Bloomsburgh, Ind., has brought suit against Father Herman Aldering, of Indianapolis, for $50,000 for libel. The official vote for delegate in Dakota is: GIIford, republican, 71,579; Wilson, democrat, 15,124; scattering, 61. An aeronaut named MacNeal, halling from Mobile, attempted a balloon ascension at West Point, Ala, yesterday. His balloon landed in the Chattahoochie river and he was drowned. Dr. Richard C. Brandeis, a well-known New York physician, has been missing from his home since last Monday evening. The Laporte, Ind., savings bank closed its doors and has been placed in charge of a receiver. The job printing office or White & Graham, Baltimore, was burned yesterday; loss, $10,000. The iron ship Lornty. bound to Bombay with a full cargo, while at anchor in New York harbor was sunk by the steamer Cornwall. The officers and crew were saved.

4. December 26, 1884 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, December 26, 1884

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Article Text

Bank Closed. LA PORTE, Ind., Dec. 25.-The La Porte Savings bank has closed its doors and has been placed in charge of a receiver, Seth Easton. The assets are about $90,000; liabilities $15,000 lesss John Sutherland, president, says the depositors will be paid in full. It is charged Jacob Vining, the cashier, caused the suspension by reporting to the auditor of state some transactions wherein the bank had not strictly complied with the state law, his reasons for 80 doing being his intended removal by the directors.

5. December 26, 1884 The Dallas Daily Herald Dallas, TX
Article from The Dallas Daily Herald, December 26, 1884

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Article Text

Failures. AN INDIANA BANK. INDIANAPOLIS, Dec. 25.-The Journal's Laporte special says: The Laporte Sav ings bank closed doors yesterday and was placed in charge of Receiver Seth Easton. The assets are about $90,000; liabilities, $15,000 less. John Sutherland, the president, says depositors will be paid in full. It is "harged that Jacob Vining, cashier, caused the suspension by reporting to the auditor of state some transactions wherein the bank had not strictly complied with the state laws, his reason for 80 doing being his intended removal by the directors.

6. December 27, 1884 Savannah Morning News Savannah, GA
Article from Savannah Morning News, December 27, 1884

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Article Text

FAILURE OF AN INDIANA BANK. LAPORTE, IND., Dec. 26.-The La Porte Savings Bank ha- closed its doors and has been placed in charge of Receiver Seth Easton. The assets are about $90,000 and the liabilities $15,000 less. John Sutherland, the President, says that depositors will be paid in full. It is charged that Jacob Vining, the cashier, caused the suspension by reporting to the Auditor of the State some transaction wherein the bank had not strictly complied with the State law, his reason for so doing being his intended removal by the directors. The suspension of the Laporte Savings Bank was brought about by a quarrel between the cashier and the trustees, who wished to get rid of him at the next election. Under the law the trustees were not permitted to borrow from the bank, such an act on their part entailing the vacation of their offices. The cashier knew that this had been done, and made complaint to the State Auditor, which resulted in the suspension. The cashier's statement shows assets of $50.000 in excess of the liabilities.

7. December 27, 1884 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, December 27, 1884

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Article Text

A Bank Cashier's Revenge. INDIANAPOLIS, IND., December 26.-The Journal's Laporte special says: The Laporte Savings Bank closed its doors and was placed in charge of Receiver Seth Easton. The assets are about $190,000 liabilities $15,000 less. John Sutherland, President, says the depositors will be paid in full. It is charged that Jacob Vining, Cashier, caused the suspension by reporting to the Auditor of the State some transactions wherein the bank had not strictly complied with the State law, his reason for so doing being his intended removal by the Directors.

8. December 27, 1884 Wheeling Register Wheeling, WV
Article from Wheeling Register, December 27, 1884

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Article Text

The Broken Laporte Bank. INDIANAPOLIS December 26.-The Journal's Laporte special says: The Laporte Savings Bank closed its doors and was placed in charge of Receiver Seth Easton. The assets are about $190,000 and the liabilities $15,000 less. John Southerland, the president, says depositors will be paid in full. It is charged that Jacob Vining, the cashier, caused the suspension by reporting to the Auditor of State some transaction wherein the bank had not strictly complied with the State law, his reason for so doing being his intended removal by the directors.

9. December 27, 1884 National Republican Washington, DC
Article from National Republican, December 27, 1884

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Article Text

A. Bank Cashier's Revenge. CHICAGO, Dec. 26.-The Daily News Laporte (Ind.) special says that the suspension of the Laporte Savings bank was brought about by a quarrel between the cashier and the trustees, who wished to get rid of him at the next election. Under the law the trustees were not permitted to borrow from the bank, such an act on their part entailing a vacation of their offices. The cashier knew that this had been done, and made a complaint to the state auditor, which resulted in the suspension. The cashier's statement shows assets $50,000 in excess of liabilities.

10. January 1, 1885 The Emporia Weekly News Emporia, KS
Article from The Emporia Weekly News, January 1, 1885

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Article Text

A Cashier's Revenge. Indianapolis, Dec. 26.-The Journal's La Porte special says the La Porte Savings bank has closed its doors and been placed in charge of Seth Easton as receiver. The assets are about $190,000, liabilities $15,000 less. John Southerland, the president, says the depositors will be paid in full. It 18 charged that Jacob Vening, the cashier, caused the suspension by reporting to the auditor of state some transactions wherein the bank had not strictly complied with the state law, his reason for so doing being bis intended removal by the directors.

11. February 6, 1885 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, February 6, 1885

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Article Text

INDIANA AND ILLINOIS NEWS Judge Noyes Authorizes the LaPorte Savings Bank to Resume Business. A Damage Suit Which Will Attract More Than Usual Attention-Illinois Republicans Renominate Senator Logan-Gleanings. INDIANA. The LaPorte Savings Bank Comes Out All Right, and Will Resume Business. Special to tue Indianapolis Journal. LAPORTE, Feb. 5.-Seth Easton, receiver of the LtPorte Savings Bank, which suspended on Dec. 24, reported its assets to the Circuit Court, to-day, to be $187,000, which is $9,000 in excess of its liabilities. Judge Noyes thereupon reappointed the emire old board of trustees. The board met and elected Benajah Stanton president and J. W. Crumpacker, cashier of the Hobart, Ind., bank as cashier. Business will be resumed on next Monday. It will be remembered that, through business and political unpopularity, the trustees desired to remove the old cashier. Jacob Vining, and, to prevent it, Vining precipitated the suspension by reporting to the State Auditor some legal inaccurneies of the trustees. Vining appeared in court with his lawyer and endeavored to have the affairs of the bank wound up by the receiver, but the judge rebuked him, and did as above. Vining says he will start another bank.