Farmers State Bank (Hobbs, IN)

Episode Information

Episode UID
71104871583
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
7110487 routing
Routing Number
71-1048
Start Date
November 6, 1931
Location
Hobbs, Indiana (40.284, -85.947)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a2a1651cdeef9966

Response Measures

None

Description

Bank entered voluntary liquidation with a named liquidating agent; still closed in 1934.

Events (2)

1. November 6, 1931 Suspension
Cause
Voluntary Liquidation
Cause Details
Board permitted by state banking department to liquidate; liquidating agent appointed.
Newspaper Excerpt
Permitted by the state banking department to liquidate on a showing of its ability to pay depositors, the board of directors of the Farmers State Bank, of Hobbs, has chosen H. E. Castor as liquidating agent.
Source
newspapers
2. June 15, 1934 Other
Newspaper Excerpt
H. E. Caster, special agent for the Department of Financial Institutions, who is in charge of the closed Farmers Staae Bank of Hobbs, was granted authority to apply rental from land held by the bank to the loan of the Prudential Insurance Company and to furnish the insurance company a varified copy of the proceedings. (Article text OCR corrected: 'Caster'/'Castor', 'Stage'->'State', 'varified'->'verified')
Source
newspapers

Newspaper Articles (2)

Article from The Indianapolis Times, November 6, 1931

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Article Text

Bank to Liquidate By Times Special NOBLESVILLE, Ind., Nov. 6.Permitted by the state banking department to liquidate on a showing of its ability to pay depositors, the board of directors of the Farmers State Bank, of Hobbs, has chosen H. E. Castor as liquidating agent. Nearly all notes held by the bank are for ninety days, and it is planned that the business of the bank can be closed without the services of a receiver in a comparatively short time.


Article Text

CIRCUIT COURT PROCEEDINGS OF INTEREST Judge Russell Heard Evi dence in Alleged Breach of Contract Case. OTHER HAPPENINGS Wife Is Granted Divorce on Grounds of Cruelty and Failure to Provide. Friday a number of witnesses and spectators were brought to Tipton by the trial of the action brought by the Dugger-VanZant Packing Company against Ray Brothers, local canning factory men. The action was one on al- leged breach of contract for failure of Ray Brothers to deliver tomatoes to the order of the Dugger VanZant Company and the company was suing for the loss occasioned by the alleged failure. There were a number of attorneys engaged in the case and the evidence regarding the matter was watched closely by both sides of the case, indicating that an appeal my be taken from the decision of the local court. At the conclusion of the evidence Judge Russell took the case under advisement, the parties having asked leave to file briefs and cite court decisions. In the action brought by John T. West against Newton V. Snodgrass and others to quiet title to real estate, the Court heard the evidence and granted the relief asked. H. E. Caster. special agent for the Department of Financial Institutions, who is in charge of the closed Farmers Staae Bank of Hobbs. was granted authority to apply rental from land held by the bank to the loan of the Prudential Insurance Company and to furnish the insurance company a varified copy of the proceedings. In the divorce proceedings of Claude Murphy against his wife Eleanora in which the wife had filed a cross complaint, the Court heard the evidence and granted the decree to the wife on the grounds of cruelty and failure to provide. The parties reside iin West Elwood. There were no children. Harry Johnson has filed an action against Frank Shuck and others in which he is asking judgment on a promissory note signed by the defendants. The defendant Shuck recently filed a voluntary petition in bankruptcy in Federal Court at Indianapolis.