Avilla State Bank - Avilla, IN

Episode Information

Episode UID: 71068071573
Episode Type: Suspension → Reopening
Bank Type: state
Bank ID: 7106807 routing
Routing Number: 71-0680
Start Date: January 12, 1931
Location: Avilla, Indiana (41.366, -85.239)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 832e14c7e9db9878

Response Measures

None

Description

Bank closed proactively to avoid a run; state banking department placed a representative in charge.

Events (1)

1. January 12, 1931 Suspension

Cause: Government Action
Cause Details: Board closed bank to prevent a run and state banking department placed a representative in charge.
Newspaper Excerpt: The Avilla State bank ... failed to open its doors this morning. The step was taken by the board of directors to prevent a run on the institution. A representative of the state banking department was placed in charge.
Source: newspapers

Newspaper Articles (1)

1. January 13, 1931 The Indianapolis Star Indianapolis, IN

Article Text

NEW YORK DRY GOODS. NEW YORK, Jan. 12. — (AP) — Cotton goods opened the week quiet. The December statistical report showed an increase of 2 per cent in stocks for the month and a decrease of 13.3 per cent in unfilled orders. Rayon business was more active, stimulated by the price guarantee for ninety days and following the drastic price revision of last week. Raw silk advanced in Japan, but resistance to the advance continued here. Stocks in Japan are 139,970 bales of which 107,770 are in custody. Arrivals here are heavy. Moderate filling in orders on spring suitings are coming forward. Burlaps showed little change. LINSEED OIL PRICES. Retail dealers are quoting the following prices for linseed oil: Raw, 96c; boiled, 99c. SUBSIDIARY BANK SHUT. AVILLA, Ind., Jan. 12. — (INS) — The Avilla State bank, affiliated with the Noble County Bank and Trust Company of Kendallville, failed to open its doors this morning. The step was taken by the board of directors to prevent a run on the institution. A representative of the state banking department was placed in charge.