Fortville State Bank (Fortville, IN)

Episode Information

Episode UID
71057971576
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7105797 routing
Routing Number
71-0579
Start Date
April 1, 1931*
Location
Fortville, Indiana (39.932, -85.848)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0bf1ebdeccc27c87

Response Measures

None

Description

Bank suspended in April 1931 for insolvency and a receiver was appointed; subsequent litigation and asset distributions followed.

Events (4)
1. April 1, 1931* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was insolvent and ceased operations in April 1931; suspension followed from insolvency discovered by regulators/parties.
Newspaper Excerpt
the Fortville State bank which suspended business in April, 1931
Source
newspapers
2. May 21, 1931 Receivership
Newspaper Excerpt
Isaac H. Day ... has been appointed receiver for the Fortville State bank which was closed a few weeks ago. His bond was fixed at $25,000.
Source
newspapers
3. February 17, 1932 Other
Newspaper Excerpt
Indictments against three officials of the defunct State Bank, of Fortville, returned by the Hancock county grand jury Tuesday morning.
Source
newspapers
4. December 13, 1934 Other
Newspaper Excerpt
Receiver Will Make a ... five per cent dividend to the common creditors of the bank. This will be the second dividend.
Source
newspapers

Newspaper Articles (15)
1. May 14, 1931 The Hancock Democrat Greenfield, IN

Article Text

New Bank May Be Founded At Fortville The organization bank with officers and directors which take over the good assets of the defunct Fortville State Bank apparunder way Fortville revealed at the hearing circuit Tuesday morning when Judge Arthur VanDuyn heard arguments the petition of Luther state banking the appointment receiver for the Fortville State Bank. Although the bank is in insolvent failing and Judge VanDuyn that he would appoint for the institution during three days pointed out that bank can ganized and that take the valuable assets of the Fortville State Bank receiver appointed for the Judge said, willing to work with the bank is organized and in that way can conserve much the assets for the depositors possible.' Organizing of bank in ville would hundreds of deposithe Fortville State Bank many dollars was pointed out the hearing morning The general opinion to the effect that high cent. of the the bank good but take some time dispose of these papers. The plan under way for the organizing of new bank which would buy the valuable assets of the old bank and which slow being would be held by bank and when would paid over to the depositors of the bank. This plan would mean that depositors would receive approximately 50% their money this time and later would collect certain centage the remaining assets was stated Tuesday. In the meantime receiver will be appointed by the court who will start salvaging much the assets possible for the depositors. Payments depositors will made whenever receiver collects 10%. There difference of opinto should appointed ceiver This matter rests entirely with the court but Judge asked for opinions. John Wiggins, attorney, presented the court petition signed by depositors that Huddleston. sistant the Fortville state bank, not be appointed receiver. On the other another group of positors handed Judge several days asking that appointed receiver defended the latter petition by stating that Huddleston and capable man for the position The daily bank statement made Luther Symons the day that the bank closed shows that the sources the institution totaled $267.The outstanding single the form amounted to The liability sheet that total deposits amounted the bank state banking by Luther Symons, banking Luther representative of the and First Deputy General Worner Nearly fifty stockholders and bank were the meeting Tuesday

2. May 18, 1931 The Daily Reporter Greenfield, IN

Article Text

NAMED Isaac Day on Monday pointed receiver for the Fortville State Bank by Judge Arthur Van Duyn. Mr. Day filed his bond of $25,000 during the day with bonding company as surety.

3. May 21, 1931 The Indianapolis Times Indianapolis, IN

Article Text

Bank Receiver Appointed FORTVILLE, Ind., May 21.-Isaac H. Day, secretary of the Hancock County Mutual Farmers Insurance Company, has been appointed receiver for the Fortville State bank which was closed a few weeks ago. His bond was fixed at $25,000.

4. February 17, 1932 The Noblesville Ledger Noblesville, IN

Article Text

FORTVILLE Cashier and Two Directors Were Placed Under Arrest, Tuesday INDICTMENTS THE Bank Receiver In Suit Against George McCarty For Indictments against three officials of the defunct State Bank, of Fortville, returned by the Hancock county grand jury Tuesday ning. Emerson Cahen, cashier of the bank which closed in April, charged with in two counts of an indictment alleged, he was aware that in April last that the bank year insolvent and he accepted deposit of $27 from Nora and that he accepted deposit of from Kate Taylor after he knew, alleged, that the institution was failing. Two indictments are against Andrew Denny, director of the bank, who charged with perjury. alleged that on December 1930, he "willfully and falsely" made affidavit in the execution personal note for deposit public funds. also charged that he made oath that his real estate personal property worth while, charged, he knew his property was worth much than his statement in davit. He also is charged with bezzlement. alleging he accepted deposit when he knew the bank insolvent. Charles Denny, also director of the bank, brother Denny, also with perjury by real sonal property were worth $25,000, but that in fact his estate was worth much than valuation. He charged with embezzlement because, is further alleged he also accepted deposit while knowing bank was insolvent. All of the indicted men were arTuesday by Sheriff Frank Stottlemyer Greenfield and bond of $800 for each of indictments filed against the three George McCarty, of Fortville, was named defendant $52,000 damfiled in the county circuit court by Isaac Day, receiver the defunct Fortville State Bank. McCarty alleged have ceived promissory notes the bank in December, 1930, when he and the bank officials knew that the institution was in an insolvent condition. At the time the notes transferred to McCarty's possession had checking count of with the bank. The bank received check for his account for notes which valued at $52,000. The complaint avers that the transaction and fraudulent and for the of McCarty to the other depositors the bank. The court asked to return the the receiver of the Fortville State Bank.

5. February 17, 1932 The Anderson Herald Anderson, IN

Article Text

FORTVILLE HEADS HELD Cashier and Two Directors Indicted By Grand Jury of Hancock County. ARRESTED BY SHERIFF Cahen and Denny Give Sues Geo. McCarty. Special The GREENFIELD, Ind., Feb. dictments against three officers of the defunct State Bank, of Fortville, were returned by the Hancock grand jury today. Emerson Cahen, cashier Fortville State Bank. which closed April 1931, chargcounts an indictment with embezzlement because, leged he aware April 1931 that the bank and he accepted deposit of $27 from Nora Hawkins. and also that he accepted deposit of from Kate Taylor after knew, alleged, the bank was failing. Brothers Also Indicted Two indictments are against AndDenny. director the bank. who charged perjury. alleged on December 1930, he and falsely" made voluntary affidavit the execution for deposit for public funds. also charged that he made that his real estate worth while, charged. he knew his worth much less his in affidavit. He also charged with alleging he deposit when knew the bank insolvent. Charles Denny, also director the bank, brother Denny, charged with representing his real and personal property that fact his estate was worth much than his valuation. He also embezzlement because, alleged he also accepted deposit knowing the bank insolvent. All Placed Under Bond All the indicted men rested today by Sheriff Frank Stottlemyer and gave bond for each count of the indictments against the three men. named damsuit filed in the Hancock county circuit court Isaac Day, receiver Fortville State Bank. McCarty alleged to have receivapproximately 100 promissory notes from the bank 1930, when he and the officials knew that the institution in insolvent condition. the time the notes transferred to McCarty's possession had the bank. The bank received check for on his account for which are valu at $52,000. The complaint avers that the was and fraudulent and for the purpose of McCarty the other the bank. The asked to return the the receiver of the Fortville State Bank.

6. February 18, 1932 Greenfield Republican Greenfield, IN

Article Text

DEMAND IS MADE BANK RECEIVER For Notes and Damages Against George McCarty by I. H. Day Bank Receiver. Isaac H. Day, as receiver of the Fortville State Bank, has brought suit in the circuit court against George McCarty of Fortville, in replevin and demand of $50,000. The complaint prepared by Jackson & Hinchman, attorneys, is in four paragraphs. APPRECIATION In behalf of the old folks at the county Infirmary Mr. and Mrs. Lewis wish to take this means of thanking the Psi Iota Xi for their lovely valentine greeting of candy and cigars and could you have seen the smiles on their faces as they were passed out you would have known how much they were appreciated. Mrs. Lewis. IN LOVING REMEMBRANCE Of my dear husband, Charles M. Walker, who passed away, Feb. 15th, 1931: Day by day I miss you as I Walk through life alone. Time is long since you are gone, I think of you daily and hourly, But try to be brave and content. And through the years be many or few, They are filled dear, with remembrances of you. d-w Rosella Walker. Amos Bodkin, janitor at the Riley school building, is confined to his home with an attack of lumbago. Jess Walker was substituting for him. Mr. and Mrs. Dan Geise, sons Kenneth and Malcolm, and daughter Marguerite of Rush county, were Sunday guests of Mr. and

7. February 18, 1932 Greenfield Republican Greenfield, IN

Article Text

For Notes and Damages Against George McCarty by I. H. Day Bank Receiver. Isaac H. Day, as receiver of the Fortville State Bank, has brought suit in the circuit court against George McCarty of Fortville, in replevin and demand of $50,000. The complaint prepared by Jackson & Hinchman, attorneys, is in four paragraphs. In the first it is stated that in 1931 the plaintiff was appointed receiver in an action then pending in circuit court entitled the State of Indiana on the relation of Luther F. Symons, vs. Fortville State Bank for a receiver, and that since that time the plaintiff has been acting as receiver. It is then alleged that the bank is the owner of and entitled to the possession of certain promissory notes, ranging in value from $25 to $3,975 each, now in the possession of the defendant, and estimates the value at $35,000 and $5,000 collected. In the second paragraph another list of notes is shown in the complaint of an alleged value of $10,000 and $2,000 collected. In a third paragraph the complaint alleges that on December 2, 1930, all these notes were in the possession of the bank, and that on that day George McCarty had a checking account with the bank in the sum of $35,108.66, and for some time prior thereto. It is alleged in the complaint that on December 2, 1930, the bank "unlawfully and fraudulently" delivered to the defendant said promissory notes and received from him a check on his account for $20,000; that some of these notes were paid and additional notes delivered in place. Further allegations in the complaint are that for some time previous and since December 2, 1930, bank was insolvent and so known to the officers of the bank and to the defendant and that the transfer of the notes was fraudulent; that the proceeding did not reduce the insolvency but did reduce the assets, and, it is alleged in the complaint, that with the connivance of the officers of the bank the defendant was made a preferred creditor. It is stated that the receiver demanded possession of the notes of the defendant and was refused. The court is asked for possession of the notes and damages of $50,000.

8. February 19, 1932 The Noblesville Ledger Noblesville, IN

Article Text

COUNSEL Bankers, Charged With Criminal Offenses, gage Lawyers GREENFIELD Ind., Feb. Four indicted officers of the Fortville State bank, which suspended business April, 1931, obtained counsel. Cahen, cashier the bank; Charles Denny and AnDenny, have retained Tindall of Cahen faces two of and perjury against each Denny brothers. Fred Huddleston, assistant cashier, who was indicted on two charges embezzlement, engaged George Barnard, Indianapolis, and Charles Tindall. Huddleston has been connected with the state banking department for some time. He Cambridge City the time the indictment was returned.

9. February 19, 1932 The Anderson Herald Anderson, IN

Article Text

Indicted Former Bankers' Counsel The GREENFIELD, Ind., Feb. 18.Four indicted officers of the Fortville State bank which suspended business in April, 1931, have obtained counsel. Emerson F. Cahen, cashier of the bank: Charles Denny and Andy Denny, directors, have retained Charles Tindell of Greenfield. Cahen faces two charges of embezzlement while & charge of embesalement and perjury was returned against each of the Denny brothers. Fred R. Huddieston, assistant cashier, who was indicted on two charges of embezslement, has engaged George Barnard, of Indianapolis, and Charles Tindall. Huddleston has been connected with the state banking department for some time: He was at Cambridge City at the time the indictment was returned.

10. February 25, 1932 The Hancock Democrat Greenfield, IN

Article Text

Bank Receiver in Possession of Notes and Money Isaac receiver the Fortville State Bank, recently took possession money involved in damage suit filed in the bank against George McCarty. The suit instituted in the Hancounty circuit court recover $50,000 notes bank officials turned months ago, bank receiving personal check who had checking with the bank. The complaint alleges that transfers of the notes from bank to Mr. McCarty made in order to defraud the bank prefer Mr. McCarty to the other common depositors. After the was filed. the defendant, Mr. McCarty, the choice of bond and retaining posnotes turning them receiver until the suit in totaling in and in bonds, turned over to Mr. Day The approved the Citizens Bank, of this depository for the notes. money bonds until their rightful owner determined.

11. October 16, 1933 The Indianapolis News Indianapolis, IN

Article Text

Was Farm Loan Agent, Receiver and OffiDeaths. GREENFIELD, Ind., October 16 H. Day, age sixty-five, in died suddenly Sunday his home in Green township while preparing to go with his wife to the celebration of the fiftieth wedding anniversary her parents, Mr. Mrs. Elwood near Eden. The canceled following Mr. Day's death. He secretary of the Hancock County Insurance Company, representative Federal Farm Loan Bank serving receiver for the Fortville State Bank. He Mason and Knight Templar survived widow and George Oakes, soldier in the United States army thirty years and retired officer, his home by the widow and five services held yesterday for Mrs. SavanWilson, age She survived by her husband and two daughters Funeral services were yesterday Little York Lucinda Cravens, age eightyfour, widow of John Cravens, veteran. She is survived by three children. Other Deaths in State. Elzue Stewart, age dead two sons and daughter survive. were held in East today for Mrs. Sarah Potter, age eighty-five. Two stepthree stepdaughters vive Funeral were the White Creek for Mrs. Frank age fifty. She by her husband four daughters. rites were held here for Robert Yeaste, age The husband vives. died buried today. His mother sisters survive.

12. December 13, 1934 The Noblesville Ledger Noblesville, IN

Article Text

FORTVILLE Receiver Will Make a Cent Distribution Lawrence Wood, receiver for the Fortville State Bank, has been authority by the court at Greenfield, five per cent dividend to the common creditors of the bank. This will be the second dend payment. The condemnation of property suit filed at Greenfield by Fortville against the Union Traction Company, to acquire the electric service lines of the defendant in Fortville for municipal plant has been venued to Noblesville.

13. February 14, 1935 The Hancock Democrat Greenfield, IN

Article Text

MOTION TO QUASH CASES IS DENIED Special Judge Morris, New Castle, Sets May 20 For Trial of Fortville Bankers John H. Morris, New Castle, special judge, has overruled motions filed to quash the indictments returned last June against six officials of the Fortville State Bank, and has set their trial for May 20 in the Hancock circuit court. The six men affected by the action are Fred Huddleston, cashier of the bank which suspended business in the spring of 1931; Emerson F. Cahen, assistant cashier; James M. Cook, president, Delphia Trittipo and Chas. and Andy Denny. Judge Morris was chosen as special judge several weeks ago, after the defendants filed a motion asking for a special judge. GREEN TOWNSHIP MAN FILES SUIT FOR DIVORCE SATURDAY Winston M. Keller, of Green township, is the plaintiff in a divorce suit filed in circuit court Saturday against Inez Keller. The complaint alleges that the defendant is guilty of cruel and inhuman treatment, and on various occasions she called the plaintiff names. The complaint further avers that the defendant became angry because the plaintiff failed to take her to a dance soon after his return from a hospital, and has since refused to live with him. The couple were married September 20, 1932, and separated in January, 1934. EVA FAE DERRICK GIVEN SIXTH BLOOD TRANSFUSION Eva Fae Derrick, age 4, daughter of Mr. and Mrs. Clarence Derrick, of northern Hancock county, who was seriously burned in an accident at her home several weeks ago, underwent a sixth blood transfusion yesterday at St. John's hospital in Anderson. Physicians say more than three-fourths of the child's body was burned in the accident and her recovery is doubtful. The child has undergone numerous blood transfusions in an effort to save her life. Mr. and Mrs. Ray Davis, Fortville, announce the marriage of their daughter, Ann, to George D. Stafford, son of Mrs. Earl Williams, Noblesville. The marriage took place in Toledo, Ohio, and the couple will live there. The bride was graduated from Fortville high school in 1932.

14. September 20, 1935 The Daily Reporter Greenfield, IN

Article Text

BEGAN IN JUNE AT LEBANON Closed Fortville Institution Now Has a Balance of $9,000 for Creditors. Through terms of a settlement reached yesterday afternoon in Boone circuit court at Lebanon, George McCarty, Fortville funeral director and furniture dealer, will retain a sum of notes and cash belonging to the closed Fortville State Bank which the receiver of the defunct institution had brought suit to recover on the assumption that it belonged to the bank's assets. The agreement was to pay Mr. McCarty $35,000, $20,000 in the replevined notes and $15,000 in cash. Just short of $9,000 in bank assets were left with the receiver for distribution to depositors. The Fortville bank closed in April, 1931, and prior to its closing Mr. McCarty had loaned a sum of money to the institution for which he took notes and securities as collateral, it was set out. Later in settling the bank's assets after it had closed, the receiver sued the Fortville man in an attempt to recover the funds, contending they were a part of the institution's assets. The suit was originally brought in Hancock circuit court but was later venued to Marion county and then to Boone county. Trial of the suit opened early in June but was postponed due to the vacation of the court. The case was resumed early this week and the settlement reached yesterday before defense witnesses had been heard. The action was three-cornered in that the parties were Mr. McCarty, the bank receiver and a committee representing the 1,400 depositors of the defunct institution. Jackson & Hinchman were attorneys for the receiver, Samuel J. Offutt and Charles Tindall represented Mr. McCarty and Wm. A. Hughes and John Wiggins represented depositors. The depositors' committee was composed of Baxter McBane, Charles Griffel, Hiram R. Kingen, Corbet Humble. The depositors' committee considered the compromise agreement a victory for their action as it secured the nearly $9,000 for additional distribution among depositors. When the case was originally filed in February, 1932, the late Isaac Day was receiver for the bank, at his death Lawrence Wood was appointed and is still serving.

15. December 19, 1935 The Daily Reporter Greenfield, IN

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Bank Receiver Sells 200 Notes Lawrence Wood, as receiver of the Fortville State Bank, yesterday sold more than 200 notes owing the bank at public auction at the north door of the court house after an order of court had authorized the sale. The notes amounted to about $80,000 and there was but one bidder, Charles Drissill of Fortville, who got the total on his bid of $150.