Shelbyville Trust Company (Shelbyville, IN)

Episode Information

Episode UID
71020471586
Episode Type
Run → Suspension → Closure
Bank Type
trust
Bank ID
7102047 routing
Routing Number
71-0204
Start Date
February 10, 1932
Location
Shelbyville, Indiana (39.521, -85.777)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
3e9fa6a24343b1c8

Response Measures

None

Description

Articles attribute the closing to malicious rumors and later reference a liquidating agent, indicating permanent closure.

Events (4)
1. February 10, 1932 Run
Cause
Rumor Or Misinformation
Cause Details
Floating idle rumors and malicious reports prompted depositor panic and heavy withdrawals.
Measures
Closed doors temporarily to protect depositors (bank closed in response to runs).
Newspaper Excerpt
Malicious reports concerning the two banks were cited as being responsible for the closing of the institutions.
Source
newspapers
2. February 10, 1932 Suspension
Cause
Rumor Or Misinformation
Cause Details
Temporary suspension of payments/closure initiated because of runs caused by false rumors.
Newspaper Excerpt
made it necessary for one Shelbyville bank and two trust companies to protect their depositors by closing their doors temporarily until the people can regain their sense
Source
newspapers
3. February 18, 1933 Other
Newspaper Excerpt
the trust company which was closed about year ago and is making possible for depositors of their deposits through the receipts being used making purchases ... on the basis of certain percentages of the ac[counts].
Source
newspapers
4. July 19, 1933 Other
Newspaper Excerpt
suit for $6,500 against David D. Whitcomb, liquidating agent of the Shelbyville Trust company, for money had and received.
Source
newspapers

Newspaper Articles (5)
1. February 11, 1932 Rushville Republican Rushville, IN

Article Text

Spreading False Reports of Banks Is Punishable by Prison Term. Calling attention to the fact that it is a prison offense to circulate false reports that might cause a run on a bank, the Shelby county grand jury went into session this morning, following the closing of two banks in Shelbyville Wednesday. Malicious reports concerning the two banks were cited as being responsible for the closing of the institutions. The two were the Security Trust and Savings Company and the Shelbyville Trust Company. Another bank closed last week in that city, and the remaining banks announced a supply of money on hands to meet any demand of the depositors. The call for the grand jury session was issued by Judge Emmert, on request of Emerson J. Brunner, prosecuting attorney, who gave out the following statement, according to the Shelbyville Democrat: "Every one of the local banks and trust companies is solvent and on a sound financial basis. These institutions are well managed by competent business men of sound judgment. But the floating of idle rumors against some of them has made it necessary for one Shelbyville bank and two trust companies to protect their depositors by closing their doors temporarily until the people can regain their sense and recover from the hysteria of recent weeks. "In all of these cases, the closing of banks has been the direct result of false rumors passed around from one person to another. Too many of our citizens are thoughtless about such matters and repeat everything they hear. If every man, woman and child in Shelby county will keep his or her head, and quit passing these rumors on to some one else, no other banks will close and the crisis will be at an end. "Judge Emmert, at my request, has called the Grand Jury to meet Thursday morning, February 11. The false statements that have been made and repeated will be sifted to the bottom. We know the rumors are

2. February 11, 1932 Rushville Republican Rushville, IN

Article Text

Prosecutor of Shelby County Working to Uncover the Source of Rumors. RUNS RESULTED IN TWO BANKS CLOSING Spreading False Reports of Banks Is Punishable by Prison Term. Calling attention to the fact that it is a prison offense to circulate false reports that might cause a run on a bank, the Shelby county grand jury went into session this morning, following the closing of two banks in Shelbyville Wednesday. Malicious reports concerning the two banks were cited as being responsible for the closing of the institutions. The two were the Security Trust and Savings Company and the Shelbyville Trust Company. Another bank closed last week in that city, and the remaining banks announced a supply of money on hands to meet any demand of the depositors. The call for the grand jury session was issued by Judge Emmert, on request of Emerson J. Brunner, prosecuting attorney, who gave out the following statement, according to the Shelbyville Democrat: "Every one of the local banks and trust companies is solvent and on a sound financial basis. These institutions are well managed by competent business men of sound judgment. But the floating of idle rumors against some of them has made it necessary for one Shelbyville bank and two trust companies to protect their depositors by closing their doors temporarily until the people can regain their sense and recover from the hysteria of recent weeks. "In all of these cases, the closing of banks has been the direct result of false rumors passed around from one person to another. Too many of our citizens are thoughtless about such matters and repeat everything they hear. If every man, woman and child in Shelby county will keep his or her head, and quit passing these rumors on to some one else, no other banks will close and the crisis will be at an end. "Judge Emmert, at my request, has called the Grand Jury to meet Thursday morning, February 11. The false statements that have been made and repeated will be sifted to the bottom. We know the rumors are

3. February 18, 1933 The Republic Columbus, IN

Article Text

FROZEN FUNDS BASE FOR SCRIP Shelbyville Feb 18 Adoption of plan that not will speed the process of but also stimulate concerns has been by the Shelbyville Trust company and number of well as depositors begun take advantage of the new idea for putting idle deposits to With the co-operation of local the trust company which was closed about year ago and is making possible for deposit ors of their deposits through the re. ceipts being used making purchases of on the basis of certain percentages of the ac

4. July 19, 1933 Rushville Republican Rushville, IN

Article Text

COURT BUSINESS IS HEAVY PRIOR TO TRIAL START FROM PAGE ONE nilla bank against Sylvia Hodges, for replevin and damages, the court found that the property described was owned by the defendant and that he was entitled to possession of the same against the plaintiff. Costs were placed against the plaintiff. The defendant filed a motion to dismiss the complaint on contract filed by Harry C. Platt, as successor to Platt and Ruby, against the Center school township et al. The defendant Williams has knows that asked for a change of judge in the case of Franklin college against Chester O. Williams et al., on note and for foreclosure. In Shelby circuit court the Moscow Cemetery Association, through its trustees, has entered suit for $6,500 against David D. Whitcomb, liquidating agent of the Shelbyville Trust company, for money had and received. Judgment for the defendant was given in the case of Everett McFarland against Charles J. VanAusdal, for breach of contract and on account. Costs were placed against the plaintiff. The court reported special finding of facts and conclusions of law in the case of William McDowell et al., against Jefferson D. Fletcher et al., a suit to quiet title The court found in this matter that the time of her death Washti Fletcher was the owner in fee simple of certain described real estate in Rush county; that prior to Vashti Fletcher's death the plaintiffs had no interest in the real estate and that they have none now except as an heir or devisee of Vashti Fletcher's. The judge ruled that the law was with the defendants in this case and ordered that they recover costs from the plaintiffs. The California Game Commission has made a second planting of 75,000 greyling in Yosemite park streams.

5. July 19, 1933 Rushville Republican Rushville, IN

Article Text

COURT BUSINESS IS HEAVY PRIOR TO TRIAL START FROM PAGE ONE nilla bank against Sylvia Hodges, for replevin and damages, the court found that the property described was owned by the defendant and that he was entitled to possession of the same against the plaintiff. Costs were placed against the plaintiff. The defendant filed a motion to dismiss the complaint on contract filed by Harry C. Platt, as successor to Platt and Ruby, against the Center school township et al. The defendant Williams has knows that asked for a change of judge in the case of Franklin college against Chester O. Williams et al., on note and for foreclosure. In Shelby circuit court the Moscow Cemetery Association, through its trustees, has entered suit for $6,500 against David D. Whitcomb, liquidating agent of the Shelbyville Trust company, for money had and received. Judgment for the defendant was given in the case of Everett McFarland against Charles J. VanAusdal, for breach of contract and on account. Costs were placed against the plaintiff. The court reported special finding of facts and conclusions of law in the case of William McDowell et al., against Jefferson D. Fletcher et al., a suit to quiet title The court found in this matter that at the time of her death Washti Fletcher was the owner in fee simple of certain described real estate in Rush county; that prior to Vashti Fletcher's death the plaintiffs had no interest in the real estate and that they have none now except as an heir or devisee of Vashti Fletcher's. The judge ruled that the law was with the defendants in this case and ordered that they recover costs from the plaintiffs. The California Game Commission has made a second planting of 75,000 greyling in Yosemite © 1933, LIGGETT & MYERS TOBACCO Co. park streams.