gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
195a4511bd393223
Response Measures
None
Description
Closure by state banking department in March 1927; OCR typos in some articles.
Events (2)
1.March 1, 1927Receivership
Newspaper Excerpt
Citizens Bank was appointed receiver for the Markleville State Bank and began liquidating assets; receiver filed inventories and sold bank building and real estate in subsequent years.
Source
newspapers
2.March 1, 1927Suspension
Cause
Government Action
Cause Details
State banking department closed the bank in March 1927 and a receiver (Citizens Bank of Anderson) was appointed.
Newspaper Excerpt
closed by the state banking department
Source
newspapers
Newspaper Articles (19)
1.March 4, 1927Anderson Daily BulletinAnderson, IN
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SENSIBLE VIEW BEING TAKEN BY DEPOSITORS
LACK OF EXCITEMENT OVER BANK'S FAILURE IS NOTICEABLE.
Markleville People Show No Resentment
DEPOSITORS LEAVE MONEY IN BANK WHEN PAYMENT
Citizens Bank of This City Will 18. sue Checks For Fifty Percent of Whatever Money Depositor's Pass Book Calls For
There is noticeable lack of excitement or resentment among stockholders and depositors in the Markleville State Bank, whose doors were closed Wednesday by Thomas D. Barr, assistant state bank comNon bank's financial Neel president of the Citizens bank this city, which was appointed receiver to liquidate affairs of the Markleville bank, that never before has experiencsituation Markleville under existing conditions. Creditors all seem to realize that could be done to keep its doors open to patrons and closed only after the last ditch had been reached. DON'T WANT MONEY. Additional by Judge Carl Morrow in the cirwith the receivership sult that was brought against the bank Tuesday. Minutes that made ply confirm what was originally done the court proceeding Depositors are taking their pass books the Markleville bank. where they being balanced. the books are balanced, representative of the receiver who stationed bank puts his on them. The pass books are then brought to the Citizens bank in Anderson, where the owner can check out of his money he desires. Practically every leaving the money the bank. Record time in handling defunct bank was made in this case. The bank was closed. the books examined. the Citizens bank appointed receiver inside of ten hours.
2.November 7, 1927Anderson Daily BulletinAnderson, IN
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The sale of the Marion Williams farm, containing 329 acres and cated south of Markleville, was ordered sold today by Judge Carl Morrow in circuit court. The sale was ordered on petition of the Citizens Bank, as receiver for the Markleville State Bank. The farm had been deeded to the Markleville bank by its owner,' before the bank was closed March by the state banking department, at which time the receiver appointed. Because of the the farm, may become necessary to divide into small tracts in order to secure bidders.
READ THE BULLETIN WANT ADS
3.November 23, 1927Anderson Daily BulletinAnderson, IN
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BANK INVENTORY
The Citizens Bank, receiver for the Markleville State Bank, today filed with Judge Carl Morrow in circourt an inventory the bank's assets. amounting to $224. Assets of the bank as listed the receiver are follows: Loans and Overdrafts 98.54 Government bonds Bank building 4,650.00 Other real estate Due from banks Money on hand 2,202.50 Bonds left for safe keeping 18,450.00
Total assets The receiver has listed about 190 notes that were held by the bank on farm other loans ranging in amounts from $11,000 down to $100 These notes total the sum The Bank closed last March by Luther Symons, state bank commissioner, and the Citizens Bank was appointed receiver.
4.May 2, 1928The Anderson HeraldAnderson, IN
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SUITS FILED Circuit Court Citizens Bank, receiver for the Markleville State Bank Lulu Michell. to collect statutory liability steck. Citizens Bank, receiver for the Markleville State Bank, V8. Ruby Mitchell, colect statutory Hability on stock, $500. Citizens Bank, receiver. VS. Kenmeth Mitchell, -collect statutory liability on stock, $2,500. Fred Windlan VS. Earl Young, et al. damages: $600. Superior Court Alton Reynolds Delores Reynolds; divorce.
5.May 6, 1928The Anderson HeraldAnderson, IN
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SUITS FILED Circuit Court
Citizens bank, receiver for Markleville State bank, VS. John E. Citizens bank, receiver, vs. John R Petty; note, $750. Citizens bank, receiver, vs. Free. man Bird, Joseph Bird: note, $4500. Citizens bank, receiver, vs. Minerva Graham, Perry Graham; note, $675. Myrtle Stanford vs. Fred Stan ford; divorce.
Superior Court Ossle B. Hered vs. Hinkle Herod: divorce.
6.June 13, 1928Anderson Daily BulletinAnderson, IN
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The Forrest Ryan farm of located four miles south Anderson on the Columbus pike, sold auction Monday the Citizens bank as receiver for the Markleville bank. Arthur Hoppess purchased the farm for an acre. McKee was in charge of the for the bank.
7.February 11, 1929Anderson Daily BulletinAnderson, IN
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MARKLEVILLE BANK FAILURE
DEPOSITORS WHO LOST MONEY CALL ON PROSECUTING ATTORNEY
Grand Jury Action Is Next Probable Step
RYAN ANNOUNCES HIS PLANS IN CONNECTION WITH THE BANK'S SUSPENSION
Will Affidavits, Says, But will Present All Available Evidence To Members of Grand
Oswald prosecuting attor the Madison grand which soon will be convened. the question of whether or not there any criminal liability on the part of bank officials for the failure of the State Bank. Markleville, the doors of which are now closed. Numerous persons who lost money through the failure of the bank have consulted the prosecuting torney, Mr. Ryan said, and urged made the mahagement existence. The closed by Luther Symons, bank March 1927. The Citizens Bank, of Anderson, was appointed receiver in circuit court, and the receivership suit brought in the same court by number depositors who money when the state banking department took over the institution, and are seeking to recover damages to coup at least portion of that loss. These complaints are directed against the seven members of the board of directors of the bank, had supervision of its affairs. GRAND JURY ACTION
Prosecuting Attorney Ryan said today he has definitely decided on course he will regarding complaints which he says are being made him leged mismanagement of the bank's business affairs, and reputed failure of bank officials to do their duty. The state's attorney he will not file affidavits against any one official or other connection with the bank. He will, however, present the matter to the grand jury when meets, Mr. Ryan stated, and if any indictments are returned against bank officials, he will prosecute cases, "the prosecutor serted. Any evidence that furnished the grand will be by persons who lost money when the bank's doors were closed and its affairs placed in receivership hands
8.March 5, 1929Anderson Daily BulletinAnderson, IN
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Claude Linton vs. Charles W. Cunningham, Frank W. Hundley, account. Separate answer of defendant Hundley filed. Separate answer of defendant Cunningham filed.
Carl F. Weis, et al. vs. Ross L. Elrod, et al, foreclose assessment. Rule against defendant to answer by March 11.
Citizens Bank, receiver for the Markleville State Bank vs. Charles M. Hardy, et al., damages. Motion of all defendants to strike out parts of complaint filed.
9.June 14, 1929The Anderson HeraldAnderson, IN
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BALES FIXES TRIAL DATE IN HUGHES SUIT
Contractors Contesting For Money Deposited In Clerk's Office.
ARGUMENT ON MOTION
Bank Depositors Sue to Recoup Losses In Collapse Two Years Ago.
Trial of a bill of interpleader-suit brought by Ralph and Euveda Hughes against George T. Popple well, contractor and others, will open July 18 before Alonzo Bales, of Randolph county as special judge in the Madison circuit court The case grows out of a contract award ed by the plaintiffs for the erection of a home In connection with the filing of the sult the plaintiffs deposited a sum of money equal to that which they claim to owe under the contract and are asking the court to establish the rights of the defendants in this money. the intention of the plaintiffs being to avoid suits which might otherwise be filed against them.
Motion Is Argued
A motion was filed in circuit court Thursday to strike out parts of the complaint in a suit brought in behalf of depositors of the Markleville State bank against directors of the defunct institution for $60,000 dam ages. The depositors allege that the directors were negligent in conduct ing the affairs of the bank, causing its collapse more than two years ago with a loss to persons who had money on deposit. Defendants in the suit are Charles M. Hardy. ELmer J. Hardy, Walter Stohler, S. Quincy Markle, George Rittenout Ross B. Ham. Frank Staley and Ulysses and Harry Hardy
Divorce Suits Rose O. Smith, 1537 Johnson ave. nue, says her husband. Ernest A. Smith, is destitute of kindness toward her and fails to support his family, in a suit for divorce filed in superior court through Attorney Lewis E. Kimberlin. They were mar ried New Years Day, 1907, and are the parents of four children. Mrs. Smith nsks the custody of the children and $5,000 alimony Edna Maynard, Alexandria, filed suit for divorce from Fred Maynard. alleging abandonment and a violent temper that makes it dangerous for her to live with him. The plaintiff asks the custody of the seventeen months-old child. E. Hall is at. torney for the plaintiff. Edna Armstrong, Anderson, refuses to spend her evenings at home and instead goes out with other meo, Otta Armstrong avers in a complaint for divorce. They were niarried last November 28.
Higmans Divorced Mrs. Agnes Higman was granted divorce Thursday from Paul Higman following a trial before Cleon W. Mount, of Tipton, as special judge in the Madison superior court Both parties operate restaurants on Columbus avenue. A property agreement made out of court specifies that Mrs. Higman is to pay her hus band $1,100. and is awarded the remainder of property
10.January 1, 1930Anderson Daily BulletinAnderson, IN
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complaint. Answer of defendant filed.
CIRCUIT COURT RECORD State of Indiana ex rel Luther Symons- vs. Markleville State Bank; receiver. Petition by receiver to compromise its. claim against Robert V. Haves for $300 granted. Anderson Chamber of Commerce VS. City of Anderson, damages. Answer of defendant in general denial filed. Finding for plaintiff in sum of $6,741 Westinghouse Electric and Manufacturing Co. vs. Union Traction Co.
11.April 14, 1930Anderson Daily BulletinAnderson, IN
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MARKLEVILLE BANK
Illness of an attorney who engaged the case, caused delay trial of suit brought by the Citizens Bank receiver. against members of Board of Directors defunct Markleville State Bank, for damages, the amount beclaimed the complaint being The against directors of the bank brought by the ceiver at the instigation of certain depositors the bank, effort recoup losses alleged have been sustained when doors of the bank closed by state banking authorities on March 1927, and ceivership suit followed. The case which have gone to trial in circuit court today. has been continued until June Former of the bank who named as the complaint Charles M. Hardy, Elmer Hardy, Walter Stohler, Quincy Markle, George Rittenour, Ross B. Hamm, Frank Staley and Ulysses Lewis.
12.June 28, 1930Muncie Evening PressMuncie, IN
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MARKLEVILLE BANK CASE UP MONDAY
June 28. Suit brought by depositors in the former Markleville State Bank to recover losses they are alleged to have sustained when the bank failed and was receiver's hands on March 1928, expected to trial in circuit court next Monday. Attorneys both sides today nounced that the case, which is set the court's calendar for trial on Monday, will likely be started that time. The suit brought by Citizens Bank, as receiver, on behalf of 115 bank depositors to from the board of the loss they when state banking authorities took charge of the institution and closed its doors, thus precipitating receivership proceeding. Individual losses alleged to have been sustained depositors range from $5 up to $2,500. and the total amount judgment that asked in the complaint is which depositors are seeking from bank officials. Summons for about forty witnesses to appear court Monday were today and placed in the hands of Sheriff Daniels for service. The entire personnel of the defunct bank's directorate is made fendants in the case. rectors are parties to suit Hardy. Hardy, Walter Stohler, Quincy Markle, George Ross Hamm, Frank Staley, Ulysses Lewis and Harry Hardy. Humrickhouse and Bagot, Freen and Bagot are attorneys the depositors. Charles Smith and Diven, Diven and Campbell have charge the defense for the bank directors. The case set for trial the court calendar for trial by jury.
13.October 18, 1930The Indianapolis TimesIndianapolis, IN
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Closed Bank Has Balance Bu Times Special ANDERSON, Ind., Oct. 18.Operation of the Markleville State bank from March 1, 1927, when it was closed by the state banking department, to Sept. 30, this year, is shown in a report filed in Madison circuit court by Neel M. McCullough, receiver. Receipts were $130,116.16, while disbursements totaled $120,405, leaving a balance of $9,811.97. The figures do not include $79,000 worth of real estate owned by the bank. The institution had 590 depositors, with savings totaling $94,172.81. The depositors have been paid $40,004.34 as a partial distribution.
14.November 19, 1930The Indianapolis TimesIndianapolis, IN
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Bank's Building Sold By Times Special MARKLEVILLE, Ind., Nov. 19.The Markleville State bank building has been sold at auction to J. E. Edwards, Anderson, for $2,700. The bank was closed three years ago when the state banking commissioner filed action for receivership. Sale of the building was ordered by Judge Carl F. Morrow of Madison circuit court.
15.February 25, 1931The Alexandria Times-TribuneAlexandria, IN
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Bank Stockholders Liable For
The Indiana law which provides that stockholders bank that liable depositors double amount of stock that they hold, upheld rulingk that Judge Carl Morrow made circuit court suits out the failure the Markleville State Bank, which went nearly three years ago Judge brough by the Bank Kenneth and Ruby Mitchell seeks collect from the fendants equal double the amount stock, reimburse Each of the fendants $500 stock in the now defunct
16.December 19, 1931The Alexandria Times-TribuneAlexandria, IN
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FINAL REPORT MADE final report has been made Citizens Bank, receiver the Markleville Bank. which closed Feb. ruary 1927 The has made 50 percent distribution depositors, who $170.000 the bank The receiver $11,538 hands, uncollected loans $72,923. The amount further not be determined.
17.May 28, 1932Anderson Daily BulletinAnderson, IN
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BANK SUIT
ECHO OF MARKLEVILLE BANK FAILURE WAS HEARD TODAY
Suit For Damages Not To Be Pressed
DEPOSITORS ABANDON LEGAL FIGHT TO REGAIN THEIR LOSSES
Action Against Bank Directors Will Be Dropped If Judge Lawrence Busby Sustains Metion Filed Today
Suit that was brought more than three years 450 by depositors in the defunct Markleville State Bank, against the Board of Directors of that to recover money that depositors lost when the bank closed its doors March 1927, will be diamissed. motion that was filed circuit court today should be sustained by Judge Lawrence Busby. The court has not yet ruled on the motion. suit brought by the Citizens Bank as receiver, acting for group of depositors placed their losses through the bank's failure approximately The com plaint against bank officials was for damage in that amount. Members the Board of Directors at the time the bank was closed were Charles Hardy. Elmer J. Hardy Walter Stobler, Quincy Markle, Frank Staley, Ulysses Lewis and Marry Hardy, and they were made defendants in the case.
NEGLIGENCE ALLEGED
It was alleged in the complaint that the Board of Directors failed maintain proper supervision over the bank's affairs. and were negilgent in the matter of making loans. To these charges, the directors filed general denial. and disclaimed per. sonal responsibility collapse the bank. General business condidons over which the bank directorclaims to have had no control. brought about the bank's failure, asserted by defense. The motion to diamiss the complaint was filed by the law firm of Bagot, Free and Morrow as attorneys for the receiver by whom the suit was brought.
18.July 26, 1932The Alexandria Times-TribuneAlexandria, IN
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SUITS AGAINST DEFUNCT BANK BE DROPPED
Depositors of Old Institution Abandoned Efforts to Collect
Suit that was brought in circuit court than years ago against directors of the defunct Markleville State Bank by group of depositors that bank, who sought to be reimbursed for losses they when the bank failed and closed its doors, will be was announced by Wade Free, attorney for the CitiBanking Company, receiver for the Markleville concern. formal motion for dismissal of the suit will be filed in court end that phase litigation growing out of Markleville's bank failure of five years ago The brought for depositors the Citizens Bank, receiver, 1929. has been pending apparent effort the trial. Although different attorneys identified with proceedings different times have withdrawn their for clients, the last lawyer retire from the being Humrickhouse. The plaintiffs, with the excepof receiver. were thus left without counsel. and now Free attorney for the receiver, announcthat motion for dismissal of the suit will be forthcoming The group of depositors who had brought the suit lost about $60,000, said, when the bank collapsed, and put receivership Seeking regain their losses or at least part of what the bank's failure cost them. suit instituted depositors against the board of directors for damage, alleging that the directors extravagant the bank's affairs and failed to ercise proper over loans that were made to borrowers of bank Members against whom the complaint directed, are Charles M. Elmer Hardy, Walter Stohler, Quincy Markle, George Rittenhour. Ross Hamm, Ulysses Lewis and Harry Hardy.
19.January 29, 1933The Anderson HeraldAnderson, IN
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CASES SET FOR THIS WEEK
CIRCUIT COURT Monday George Davis vs. Orville Smith, et al. On account, demand $51.00. Bagot, Free and Morrow Tuesday Baker Bros. VS. Ollis Parker Account, demand $175.80. Bagot, Free and Morrow.
Wednesday State vs. Laura Blubaugh. Selling intoxicating liquor. Thursday State VS. Joseph Deak. Child desertion. George Keiser and Co. vs. Fred Dixon On account, demand $200.00 Citizens Bank, receiver for Markleville State Bank, vs. George Sparks,
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
