Thomas Exchange Bank (Corunna, IN)

Episode Information

Episode UID
71071671534
Episode Type
Suspension → Closure
Bank Type
private
Bank ID
7107167 routing
Routing Number
71-0716
Start Date
October 27, 1927
Location
Corunna, Indiana (41.437, -85.147)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
905fbff2980920cc

Response Measures

None

Description

Closed and placed in receivership after death of sole owner; liquidated rather than reopened.

Events (3)
1. October 27, 1927 Receivership
Newspaper Excerpt
The Auburn State Bank yesterday was named for the Thomas Exchange Bank at Corunna. The appointment of the Auburn bank was an agreement between the estate the late Milo Thomas and state banking department, made necessary to liquidate the fairs the bank
Source
newspapers
2. October 27, 1927 Suspension
Cause
Voluntary Liquidation
Cause Details
Closed following the death of sole owner Milo J. Thomas; no partners existed so business had to be wound up and closed.
Newspaper Excerpt
The Thomas Exchange Bank, private institution at Corunna owned and managed by Milo until the his death ten days ago, was closed
Source
newspapers
3. December 19, 1927 Other
Newspaper Excerpt
A petition from the Auburn State bank, receiver, to pay a dividend of 25 per cent to the claimants against the Thomas Exchange bank of Corunna, has been granted in the DeKalb circuit court
Source
newspapers

Newspaper Articles (10)
1. October 27, 1927 The Waterloo Press Waterloo, IN
Article from The Waterloo Press, October 27, 1927

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Article Text

CORUNNA BANK IS CLOSED Death of Owner Bank Makes cessary to Close Pending the of Affairs to be Liquidated The Auburn State Bank yesterday was named for the Thomas Exchange Bank at Corunna. The appointment of the Auburn bank was an agreement between the estate the late Milo Thomas and state banking department, made necessary to liquidate the fairs the bank which is said to be deposits of the bank total about and the assets amount to $160,000. The bank was capitalized $25,000, all of which owned by the late Thomas, and was operated as private bank. There having been no partnership in the bank, was necessary to take this close business. The Thomas Exchange Bank, private institution at Corunna owned and managed by Milo until the his death ten days ago, was closed Continued on page five

2. December 19, 1927 Garrett Clipper Garrett, IN
Article from Garrett Clipper, December 19, 1927

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Article Text

ORDER DIVIDEND OF 25 PER CENT BANK CLAIMANTS Collections for Corunna Bank Being Made A petition from the Auburn State bank. receiver, to pay a dividend of 25 per cent to the claimants against the Thomas Exchange bank of Corunna, has been granted in the DeKalb circuit court. In the petition it was stated that the receiver had collected an amount sufficient to justify such a payment. Also upon request of the receiver, the court authorized notice to be given all creditors to file their claims within thirty days.

3. December 22, 1927 The Waterloo Press Waterloo, IN
Article from The Waterloo Press, December 22, 1927

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Article Text

Thomas Exchange Bank WIII Receive 25% Their Claims Ordered Paid The Auburn State Bank, receiver for the Thomas Exchange Bank, Corunna, has been ordered by the DeKalb circuit court to fourth the amount of the claims against Thomas Exchange Bank. At the request of receiver the notice sued that all creditors bank must file their claims within thirty days. The affairs of the Thomas Exchange Bank being liquidated through receivership appointed after the death Milo Thomas, who the owner the private institution. The steps taken were made necessary due to the fact that there no other partners the bank.

4. January 16, 1928 Garrett Clipper Garrett, IN
Article from Garrett Clipper, January 16, 1928

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Article Text

Pleasant Wednesday for medical Miss Mary Jensimer Wednesday for medical treatment. Paul Brandon of Auburn. Wednesday hernia operation. Wilson of Auburn, came Thursday for major operation. Mrs. Emily Fischer of South Lee birth son Thursday. Melvin Brunkhart of Friday medical Joseph Trausch of Blakesly, came Friday for gall bladder operation Baby Daniel Bunting minor operation Friday. Orla Meyers Waterloo, who Dec. for an appendix recovering. Mrs. Carl Grossman of Wolcottville, who came Dec. for major operation doing nicely. Mrs. Arthur Rosenberry. who came Dec. for major improving. Miller North Randolph who Dec. minor operation, recovering rapidly. Joseph Livergood of the DeKalb county farm. who heroperation Dec. improving Mrs. Vermont Finley of Kendallville, who came Dec. 10 for operation, recovering. Mrs. Dorothy Stangland of Albion, who underwent Caesarean tion Frank Vanaman of who Mongo. submitted to hernia operation Dec. improving rapidly. Nan Crimes of Kendallville. who came Dec. for medical treatdoing nicely. Mrs. Leon Eagles Albion. who Caesarean tion Mrs. Fred Reinig of Waterloo. who underwent major operation is recovering. Mrs. Eva Marquardt of underwent Caesarean operation Jan. returned her home Saturday. Clarence Young of North Walsh street, who submitted to hernia eration Jan. improving. Thomas Burtch of South Walsh who submitted serious operation Jan. rapidly recovering. Wm. Fortsman of Avilla, who Jan. for gallstone doing nicely. Milo Brace of Garrett rural route who came Dec. 24 for medical improving. Mrs. Noonan of South Cowen who Dec. for 19 major operation, continues improve. Jacob Kircher of Akron, who came Nov. 27 for medical treatment, improving slowly. Theron Miller, who had his back broken in an accident Oct. as well can be expected. Miss Bernice Snyder of Washington, She came last March for medical treatment Miss Sarah Fountain, who has been patient over years, remains the same. Notice being given by the Auburn State bank, receiver of the Thomas Exchange bank of Corunna. that claims must filed with the receiver before February 20.

5. November 1, 1928 Garrett Clipper Garrett, IN
Article from Garrett Clipper, November 1, 1928

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Article Text

BOY'S ARM SHATTERED IN HUNTING ACCIDENT Bluffton, Ind., Oct. 30.-Paul Clowser, 9-year-old son of Mr. and Mrs. Lloyd Clowser, living near Craigville, suffered a badly shattered right arm in an accident near his home. The lad had gone hunting with his father, his brother and another lad. Mr. Clowser laid down a shotgun he was carrying to obtain a club to chase a rabbit out of the butt of a tree. In some manner the shotgun was discharged while lying on the ground, the load striking the Clowser youth in the right arm. The injured boy was brought to the Wells county hospital here where an operation was performed for the removal of 16 or 18 shots. Practically every bone in the Iad's arm was shattered by the accident. The boy was weakened by the loss of a large quantity of blood. Nelson J. Shook. administrator of the estate of the late George F. Baltz, has been authorized in the DeKalb circuit court to sell real estate in order to pay claims. The property was appraised by John H. Oster and Verne E. Harding at $6,700 and Mr. Baltz filed $14,000 additional bond with S. P. Becker and Mr. Oster as sureties. The Auburn State bank, receiver of the Thomas Exchange bank of Corunna, holds a mortgage on the land and another is held by the state of Indiana. A match she struck while sorting fruit in the basement of her home set fire to the clothing of Mrs. Clarence Stuck of Union City, Ind., and caused burns from which she died five hours later. Her husband found her sitting on the cellar steps, the clothing having been burned from her body. It is believed that she had been burned about two hours before she was found. Prosecutor Milo Thompson of Anola, has advertised a public sale of the property of the victim of the murder in Steuben county in August, to be held on Nov. 10. There are some fancy pajamas and underwear in the lot, a fine traveling bag and the death car. A judgment of $60 for rent has been entered in the DeKalb circuit court in favor of Jack M. Beams against Walter Zonker and Henry Krabill. The court had been holding the cause under advisement.

6. June 13, 1932 Garrett Clipper Garrett, IN

Article Text

$30,000 CLAIM AGAINST THOMAS ESTATE ALLOWED Proceeds Will Benefit Bank Creditors A claim of $30,000 has been allowed against the Milo J. Thomas estate by Judge Endicott on behalf of the creditors of the Thomas Exchange bank of Corunna. Mr. Thomas operated the bank as a private institution and it went into receivership upon his death several years ago. Elmer D. Case of Fairfield township, is administrator of the estate and the Auburn State bank is receiver of the Thomas bank. The receiver of the bank has paid 70 per cent dividends so far, but the amount of liabilities still unpaid is about $30,000. The Thomas estate is liable for this indebtedness. However, there had already been $25,000 in claims filed against the estate and the total is now $55,000. The assets will amount to only a small percentage of the claims and the estate will be settled within the near future as insolvent.

7. June 23, 1932 Garrett Clipper Garrett, IN

Article Text

Chicken dinner and supper, all day picnic, July 4th. St. Joseph's Church. Death came to Alonzo F. Strong of Kendallville, while sitting in a rocking chair on his porch Tuesday evening. He lived alone. A passerby, noting the peculiar position Mr. Strong occupied in the chair, investigated. Mr. Strong was a pioneer blacksmith at Kendallville and had resided in that city nearly fifty years. Ray Irving has sued the Garrett Gravel & Cement Products Co., and Walter E. Sithin in the DeKalb circuit court on four notes, three being for $50 each and the other for $47, executed Nov. 17, 1931, and payable in thirty, sixty and ninety days and four months, respectively. The demand is for $253.90. J. D. Brinkerhoff is the plaintiff's attorney. Christian A. Hoffer and his wife, Ethel Marie Hoffer, of Auburn, Wednesday filed a petition with the DeKalb circuit court for the adoption of a girl three years of age who became a ward of the county board of children's guardians June 4. The petitioners desire to change the name of the child to Norma Jean Hoffer. Their attorney is Richard W. Sharpless. The Garrett State bank was appointed Wednesday in the DeKalb circuit court as administrator of the estate of the late Mrs. Della Mountz of Garrett, who died last month. There is $500 in personal property and $1,000 in real estate and the heirs are two children, Mrs. Harry M. Barre of Washington, Pa., and Russell M. Mountz of Saginaw, Mich., and two grandchildren, William and Oma Mountz of Kendallville. A petition to approve action of the Auburn State bank, receiver of the Thomas Exchange bank of Corunna, in the foreclosure of a mortgage against Harry K. and Ada G. Thomas has been approved in the DeKalb circuit court. A judgment was secured in the Whitley circuit court and, no bidders appearing, the receiver bid in the real estate for $3,644.48, being the amount of the judgment, interest and costs. Anson Smith of Butler, pled guilty Wednesday morning in the court of J. L. Griffin, justice of the peace in Auburn, to an affidavit charging him with reckless driving. He was fined $1 and costs which totaled $11. The fine and costs were paid. The defendant was arrested by Art Zimmerman of Auburn, state highway traffic policeman, for passing another car on a curve and hill.

8. August 4, 1932 Garrett Clipper Garrett, IN

Article Text

Current reports in guardianships: Katherine M. Luton, Leona Spurling guardian. Leuella, Edwin, George, Ethel, Raymond and Lyle Roose, Chas. F. Lumm guardian. Lyle, Martha and John Hunter, Geo. L. Hunter guardian. Bernice, Orpha, Milton and Naomi Myers, Perry Myers guardian. The Milo J. Thomas estate was settled as insolvent. After meeting expenses of administration, amounting to $661.39, and paying the widow, Vesta M. Thomas, $131 as her share of the sale of some real estate at Kendallville, the amount of $2,608.39 remained for distribution among the general creditors. The general claims totalled $33,668.60, including $30,000.00 allowed to the Auburn State bank as receiver of the Thomas Exchange bank of Corunna. The distribution by the administrator amounted to about 7¾ per cent. Clipper classified ads pay.

9. October 11, 1934 Garrett Clipper Garrett, IN

Article Text

Social and Personal Pay W. T. Eagan insurance accounts to Miss Clara Bapst at Riedhart's store. A report by the Auburn State bank, receiver of the Thomas Exchange bank of Corunna, of the sale of land in Whitley county to C. A. and Sara Straub for $1,700 has been approved in the DeKalb circuit court. Dr. and Mrs. M. W. Manion of Indianapolis, and Mr. and Mrs. H. C. Springer and children, Clark and Nancy, of Butler, spent Sunday with Mr. and Mrs. J. C. Manion of South Franklin street. After the regular business session of the Sigma Phi Gamma sorority Monday evening at the home of Miss Treva DePew on South Guilford street, three tables were formed at bridge and Miss Maxine Rickett was awarded the high score favor. The Schlosser company of Fort Wayne, has opened a cream station at 114 North Cowen street, with C. Howard Hall as manager. The station will buy cream, poultry and eggs and will also retail these products.

10. August 12, 1935 Garrett Clipper Garrett, IN

Article Text

CIRCUIT COURT A brief hearing was held in the DeKalb circuit court Saturday on the application of the plaintiff in the suit of Ervin Riddle against Milo Nichols for a receivership and the case was continued to Tuesday. The plaintiff was tenant on the defendant's farm in Troy township and they are having a dispute over their business. Capt. H. C. Springer represents the plaintiff and Mountz & Mountz the defendant. Sheriff Herbert N. Grimm went to Richmond Friday with Henry Renner of Waterloo, who was recently committed to the state hospital. The Auburn State bank, receiver of the Thomas Exchange bank of Corunna, Friday sued Isaiah C. and Carrie Wert in the DeKalb circuit court for $3,850 on notes. Edgar W. Atkinson and Husselman & Husselman are the plaintiff's attorneys. Chas. Bishop of Concord township, was committed to the Richmond state hospital Friday by Judge Endicott. He was placed in the county jail recently for safekeeping upon application of his wife and the commitment to the asylum was upon recommendation of Drs. C. B. Hathaway of Butler, B. O. Shook of Spencerville, and D. M. Hines of Auburn. NOTICE OF INSOLVENCY In the Matter of the Estate of Lewis C. Wells, Deceased. In the DeKalb Circuit Court. No. 3927. Notice is hereby given that upon petition filed in said Court by Robert C. Wells, executor, of said estate, setting up the insufficiency of the estate of said decedent to pay the debts and liabilities thereof the Judge of said Court did, on the 24th day of July, 1935, find said estate to be probably insolvent, and orders the same to be settled accordingly. The creditors of said estate are therefore hereby notified of such insolvency, and required to file their claims against said estate for allowance. Witness, the Clerk of said Court, at Auburn, Indiana, this 24th day of July, 1935.