Farmers Trust Company (Huntington, IN)

Episode Information

Episode UID
71019471491
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
7101947 routing
Routing Number
71-0194
Start Date
March 30, 1924
Location
Huntington, Indiana (40.883, -85.497)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2127045da4e6a012

Response Measures

None

Events (2)
1. March 30, 1924 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Petition of insolvency filed by state banking commissioner and bank declared insolvent; temporary receiver appointed March 30, 1924.
Newspaper Excerpt
The temporary receivership of the Huntington Trust and Savings company will end if the proposed deal is consummated.
Source
newspapers
2. April 21, 1924 Receivership
Newspaper Excerpt
J. C. Wearly ... has qualified as receiver for the Farmers Trust Co. of this city as the receiver, filing a bond of $25,000 asked by the court. He succeeds the Huntington Trust & Savings Bank, which was appointed temporary receiver on March 30.
Source
newspapers

Newspaper Articles (7)
1. April 1, 1924 The Huntington Press Huntington, IN
Article from The Huntington Press, April 1, 1924

Click image to open full size in new tab

Article Text

LITTLE PROGRESS IN COMPLETION OF BANK TAKE-OVER Further negotiations toward the taking over the affairs of the insolvent Farmers Trust company by another bank of the city were made Monday at a meeting of a committee representing the stockholders of the former institution, and officials of the First National bank and the Huntington Trust and Savings bank, the receiver. Little progress toward the completion of such an agreement has been made, however, it is reported. Confusion as to what the terms of such an agreement would be is said to have arisen since the meeting of stockholders Saturday and it is expected that a written contract specifically setting out such terms, will be drawn up and presented at a meeting of the stockholders and bank officials at the court house Thursday. The temporary receivership of the Huntington Trust and Savings company will end if the proposed deal is consummated. It was erroneously stated in The Press Sunday morning that the petition of insolvency and receivership was filed in circuit court Saturday by Attorney George M. Eberhart, representing the estate. This petition was filed by U. S. Lesh for the state banking commissioner. The appointment of the Trust and Savings company as receiver came as somewhat of a surprise to the stockholders of the insolvent bank as they had requested by unanimous vote that Mr. Eberhart be appointed. Thomas Barr, deputy bank commissioner, had also requested the appointment of Mr. Eberhart, it is said.

2. April 8, 1924 The Huntington Herald Huntington, IN
Article from The Huntington Herald, April 8, 1924

Click image to open full size in new tab

Article Text

40 KILLED IN WRECK (By International News Service.) Mexico City, April 8.—Forty persons were killed and eighty injured when the Mexico City-United States express crashed into a freight train on a down grade near Bernal, state of Queretaro, according to information received here today. Several Americans were on board the special train but none of them were reported among the casualties. All the killed and injured were in second and third class cars directly following the engine. The express train left here yesterday. SUES ON NOTE. A complaint on note demanding $6600 was filed in circuit court Tuesday by the Huntington Trust & Savings bank, receiver for the Farmers Trust company, against William Carmichael. The note for $500 with interest.

3. April 21, 1924 The Huntington Herald Huntington, IN
Article from The Huntington Herald, April 21, 1924

Click image to open full size in new tab

Article Text

Name Wearly Bank Receiver J. C. Wearly, secretary-treasurer of the Farmers' Mutual Insurance Co., has qualified as receiver for the Farmers Trust Co. of this city as the receiver, filing a bond of $25,000 asked by the court. He succeeds the Huntington Trust & Savings Bank, which was appointed temporary receiver on March 30. Mr. Wearly immediately will open an office in the quarters of the insolvent trust company, and start the work of converting the assets into cash so a distribution can be made to the creditors. A loss to the depositors is now certain, as the appointment of a permanent receiver ends the possibility of the bank being taken over by some other financial institution in the city. Value of real estate held by the Farmers Trust company will decide the amount of loss which depositors will suffer. Notes amounting to $100,000 are listed as either doubtful pay or entirely worthless, and it remains to be seen how much can be realized on these notes. A series of suits probably will be started on some of the doubtful papers.

4. December 21, 1924 The Huntington Press Huntington, IN
Article from The Huntington Press, December 21, 1924

Click image to open full size in new tab

Article Text

BONDING CO. ASK TO HAVE CLAIM ON LOCAL BANK MADE PREFERRED A decision in the suit of the Straus Brothers bonding company against the Farmers' Trust company, will be handed down by Judge Sumner Kenner when the next court term opens in January, following a hearing of the evidence in a special session of the Circuit court yesterday. The suit sought to have the claim of the Straus Brothers company for $2,988.11 declared a preferred claim over the claim of depositors. The suit alleged that the bank acted as agent for the company for first mortgage bonds, and avers that the debt from the sale of these bonds should be paid in full instead of the thirty per cent issued at first distribution. Witnesses heard were Isaac M. Baum, representative of the company, and Garl Vickery and A. C. Fast, officers of the defunct bank.

5. December 21, 1924 The Huntington Press Huntington, IN
Article from The Huntington Press, December 21, 1924

Click image to open full size in new tab

Article Text

Bank Receiver Sues on Note of Contractor Co. J. C. Wearley, receiver for the Farmers Trust company bank filed a suit on a note in the Circuit court yesterday against H. W. Nelson, Charles Griffith, Huntington county auditor and Guilford Morrow, Huntington county treasurer. The complaint avers that the defendant Nelson is indebted to the plaintiff in the amount of $1,500 as evidenced by a promissory note dated February 24, 1924, due in two months. The complaint asks collection of the principal together with $150 attorneys fees and interest on the note. Judgment of $2,000 is asked. The suit was filed by Eberhart and Sapp.

6. March 4, 1925 The Huntington Press Huntington, IN
Article from The Huntington Press, March 4, 1925

Click image to open full size in new tab

Article Text

Six complaints, asking the payment of were filed John Wearly, ceiver for Farmers Trust company. local bank failed last filed office Dessie Wright, clerk Huntington circuit court, yesterday. names of the defendants, together with the amount due in each case, Bailey and Mrs. Mary Bailey, Enoch Henry, Edward Keefer George Calvert Company, $200 Howard Hite and John Hite, Ovid Smith and John Smith. $300; Roy Eddingfield Elizabeth field, and Roy and Elizabeth Ed dingfield, $100. Files Quash Motion formal motion quash the plaint against Leonard Zeis, alleged bezzler, was filed yesterday by attorneys the defense. Zeis, who come tomorrow alleged made collections for the Insurance without turning the funds to The Huntington County State bank filed Clive Summers for $125, including the face note, terest on the amount and attorney fees. complaint Hillegas M. Eckman to discounted the bank. The debtors failed to pay. The amount of the was Amended Complaint An amended complaint consolidating making the Huntington Securities plaintiff the suit of the Huntington County State. Mason, asking foreclosure mortgage, was filed circuit yesterday. motion asking change of judge was filed by Eberhart Sapp, for the plaintiff the suit the Bippus State versus Robert T. Brown and John Schenkel. report of the sale of real estate for filed with the partition suit of Ida Wesco versus Charles Evidence was heard in the case Charles versus Swihart, Company, and Adolph Seymour, yesterday circuit court, which appeal from court Squire Jones, decided favor Poorman. Poorman alleged he was partner Seymour in the contract let by Swiand entitled portion the remuneration, which has been the hands court pending settlement of the suit. PAYMENT OF SIX NOTES ASKED BANK RECEIVER

7. March 3, 1929 The Huntington Press Huntington, IN
Article from The Huntington Press, March 3, 1929

Click image to open full size in new tab

Article Text

KING PETITIONS BANK RECEIVER Petition to request the of the defunct Farmers' Trust to bid made at public sale of cept the the bank's assets some time ago, was in Huntington circuit court Satfiled urday by E. O. King Suit filed time ago by the was some on relation of Eben Wolcott, bank state, commissioner, against Farmers' Trust company for the appointment a receiver. Affidavit for a change of venue was filed Saturday by the defendants in the complaint on note of Otto C. Groff against W. D. Bonifield and others. Consent to partition was filed by the defendants Leo M., Jacob and M. Steffel in the partition suit of Herman Stoffel against William Stoffel and oth Evidence was heard in the partition suit of Edward Daibl and others against Wilbur E. Dolby and others. Amended complaint in three parts was filed Saturday in the suit on notes of the First National bank of Huntington against Arthur B. Thomas and others. William Prough, defendant in Prough, action filed Mary vorce by Judge was Saturday. The finding was based OFF the defendant's cross complaint. The defendant was given the custody of five minor children, pending further order of the court. The defendant w orAered to pay the costs. An attachment was continued in the divorce case of Emma Jordan against Francis Jordan. Final report was filed Saturday by Harley E. Trout, executor of the estate of John Henry Trout. Reappraisement in the sum of $5,600 was filed Saturday in the estate of John Sparks. Robert A. Sparks is executor. Evidence was heard in the estate of John M. Smith. Raymond K. and Clyde W. Smith are executors.