Sharpsville Bank (Sharpsville, IN)

Episode Information

Episode UID
71090771600
Episode Type
Suspension → Closure
Bank Type
private
Bank ID
7109077 routing
Routing Number
71-0907
Start Date
April 1, 1933*
Location
Sharpsville, Indiana (40.379, -86.089)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
93037a73d9dea08a

Response Measures

None

Events (2)
1. April 1, 1933* Suspension
Cause
Government Action
Cause Details
Closed by orders of the Indiana state banking department; trustee appointed to liquidate and public funds tied up
Newspaper Excerpt
which bank suspended payment on April 1933; the institution was closed by orders of the state banking department
Source
newspapers
2. November 12, 1934 Receivership
Newspaper Excerpt
Sharpsville Bank Receiver Is Given Power to Compromise Action. Monday in Circuit Court a petition was filed by Lot E. Warner, trustee of the Sharpsville Bank ... asked permission to compromise a debt owed the bank
Source
newspapers

Newspaper Articles (6)
1. May 13, 1933 The Tipton Daily Tribune Tipton, IN

Article Text

STATE AUDITOR WILL EASE THE PUBLIC FUNDS Trustee of Sharpsville Bank Gives Notice of Payment of School Funds. COUNTY HAS INTEREST New Law Regarding Pay. ment of Public Monies to Be Used Here. Elsewhere in this issue of the Tribune is notice to all conrerned regarding the payment of the state auditor of public monies on deposit in the Sharpsville Bank at the time the institution was closed by orders of the state banking department At the time of the closing. several of the school corporations had money on deposit. as well as Tipton county and the town of Sharpsville The notice given by Lot E. Warner trustee of the bank liquidate states that pursuant to the act passed by the special session of the Indiana general assembly at its special session last August the audifor of state has found that at the time the bank payment August 3rd. of this year. Tipcounty had Prairie township $9,434.52 township $19 and the town of 40 on deposit By reason of these funds being tied the schools of the have been affected and it was known the matter would be adjusted there was inconvenience caused by the tie-up of cash The 1932 assembly created sinking fund to secure the payment of all public monies on deposit In any depository of this state, by diverting the on public funds to the fund Heretofore they have new reverted to the fund of the various corporate units. The law requires that after the auditor of state ascertains the amount due each corporate unit which has funds tied up. the trustee or liquidating agent of the they are to be paid from the state fund and if there are no objections within ten days after the notice. the monies will be paid direct from the state fund. As there are known objections to the payment of the amounts tied up in the Sharpsville bank. checks from the auditor of state are expected to reach here by Thursday, May 25th Improving Rapidly. Thursday the Young ambulance was at the Beechwood hospital and took Mrs. Guy Wimer to her home one mile south and one mile west of Tetersburg Mrs. Wimer who was operated for appendicitis one week ago is making a rapid recovery and will soon be able to be up and around

2. May 13, 1933 The Tipton Daily Tribune Tipton, IN

Article Text

Notice to Depositors Pursuant to Section of Chapter 33, Acts of 1932, Page is the decision of the attorney general and the auditor of state, that there was on deposit with the Sharpsville Bank Sharpsville, Ind., which bank suspended payment on April 1933. the following public funds classed as Tipton County Prairie Township, Tipton County Liberty Township, Tipton County 9,184.05 Civil Town of Sharpsville Ten days after this publication, if there is no objection, the auditor of state will issue his warrant for the above amount. LOT. E. WARNER, c-191 Trustee

3. May 13, 1933 The Tipton Daily Tribune Tipton, IN

Article Text

STATE AUDITOR WILL EASE THE PUBLIC FUNDS Trustee of Sharpsville Bank Gives Notice of Payment of School Funds. COUNTY HAS INTEREST New Law Regarding Payment of Public Monies to Be Used Here. Elsewhere in this issue of the Tribune is a notice to all concerned regarding the payment of the state auditor of public monies on deposit in the Sharpsville Bank at the time the institution was closed by orders of the state banking department. At the time of the closing. several of the school corporations had money on deposit. as well as Tipton county and the town of Sharpsville. The notice which is given by Lot E. Warner. trustee of the bank. to liquidate its assets, states that pursuant to the act passed by the special session of the Indiana general assembly at its special session last August. the auditor of state has found that the time the bank suspended payment ou August 3rd. of this year. Tipton county had $3,469.97: Prairie township $9,434.52: township $19,184.05 and the town of Sharpsville, $1,160.40 on deposit. By reason of these funds being tied up. the schools of the townhave been affected and it was known the matter would be adjusted. there was some inconvenience caused by the tie-up of cash. The 1932 assembly created a sinking fund to secure the payment of all public monies on deposit in any depository of this state. by diverting the interest on all public funds on deposit to the new fund. Heretofore they have reverted to the general fund of the various corporate units. The law requires that after the auditor of state ascertains the amount due each corporate unit. which has funds tied up. the trustee or liquidating agent of the bank. shall publish a notice that they are to be paid from the state fund and if there are no objections within ten days after the notice. the monies will be paid direct from the state fund. As there are known objections to the payment of the amounts tied RP in the Sharpsville bank. checks from the auditor of state are expected to reach here by Thursday. May 25th.

4. May 13, 1933 The Tipton Daily Tribune Tipton, IN

Article Text

Notice to Depositors Pursuant to Section 9 of Chapter 33, Acts of 1932, Page 146. it is the decision of the attorney general and the auditor of state, that there was on deposit with the Sharpsville Bank Sharpsville. Ind., which bank suspended payment on April 1933. the following public funds classed as new money: Tipton County 169.07 Prairie Township, Tipton County Liberty Township Tipton County 184.05 Civil Town of Sharpsville Ten days after this publication. there is no objection. the auditor of state will issue his warrant for the above amount. LOT. E. WARNER. Trustee

5. November 12, 1934 The Tipton Daily Tribune Tipton, IN

Article Text

CIRCUIT COURT NEWS AND NOTES Sharpsville Bank Receiver Is Given Power to Compromise Action. ITEMS OF INTEREST Monday in Circuit Court a petition was filed by Lot E. Warner. trustee of the Sharpsville Bank in which he asked permission to comprise debt owed the bank. which held a mortgage for curity. The mortgagor was securing a federal loan of $1,045.63 and was offerIng to turn it to the bank to pay a loan of $1,153.23. The petition to accept the offer was granted by the court. Esther Goodnight. who was made defendant in a divorce action filed by her husband Vern Goodnight. has filed a petition for an allowancé for herself and children during the pendency of the action. the divorce proceedings brought by Edith Slocum against her husband Robert Slocum the husband filed a pétition for a modification of an order for the payment of $4.50 per week. by the husband during the pendency of the action, The petition states that he is only able to earn $4.50 per week and cannot comply with the order made. The petition states the husband was served with notice of the application for an allowance and thought It would be heard when the divorce case proper was tried. and was not present in court when the order of $4.50 per week was entered. In the damage actions brought by Minnie Hamilton and Harold Hamilton against Barbara Lee and others. rule for the defendants to file an answer by November 23 was made absolute. In' the damage actions by George Harlow, Cora Martin and Jesse Martin against Charles Gordon and others, growing out of an automobile crash, the defendants were ordered to have answers on file by November 16th. In the foreclosure proceedings Continued on Page 2.

6. November 12, 1934 The Tipton Daily Tribune Tipton, IN

Article Text

CIRCUIT COURT NEWS AND NOTES Sharpsville Bank Receiver Is Given Power to Compromise Action. ITEMS OF INTEREST Monday in Circuit Court a petition was filed by Lot E. Warner, trustee of the Sharpsville Bank in which he asked permission to compromise a debt owed the bank, which held a mortgage for security. The mortgagor was securing a federal loan of $1,045.63 and was offering to turn it to the bank to pay The next revealing banking development came over the weekend when Mr. Roosevelt named Marriner S. Eccles, of Utah, to be governor of the Federal Reserve Board. Eccles is the first far Westerner to hold that position. He starts to work today, subject to later confirmation by the senate. Important to bankers are Eccles' unusually progressive ideas. He is committed definitely to a program that startled Washington when it was outlined before a senate committee in February 1933. He was asked to testify as a western Republican but appeared as a new dealer and proposed: 1. Unification of the banking system.