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CLOSE HOOSIER BANK ! AFTER TWO-DAY RUN EVANSVILLE, Oct. 17.- State Bank Examiner Wicker Monday night refused to make any statement as to when the Farmers Bank of Newburg would be reopened, the bank having been closed Monday by the examiner after a two days run Friday and Saturday last week. The examiner also refused any statement as to condition of the bank's books. The Newburg business men saved the bank Saturday when they advanced money to meet demands of depositors.
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ASKS RECEIVER FOR BANK. BOONVILLE, Ind., Oct. 20.-Petition for a receiver for the Farmers Bank of Newburg, near here, has been filed by Charles W. Camp, Indiana bank commissioner. The bank is a private institution with a capital stock of $10,000. The petition alleges insolvency. Cashier Hulverson is missing. A majority of the stock is owned by Jorgen Olsen, a North Dakota banker.
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SEEK RECEIVER FOR NEWBURG STATE BANK BOONVILLE, Ind., Oct. 20.Charles W. Camp, state bank commissioner, yesterday filed a petition here for a receiver for the Farmers' bank of Newburg, this county, a private bank of $10,000 capital. He alleges that the bank is insolvent and asserts that Cashier Hulverson is missing. Jorgen Olsen, a North Dakota banker, is said to own a majority of the stock of the Newburg institution.
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MADE NEWBURG BANK HEAD. EVANSVILLE, Ind., Nov. 11.-Announcement was made Friday that Eugene Sargeant, of Newburg, hod been selected as president of the Newburg State bank, just organized. The bank, which will open for business Monday, will succeed the Farmers' bank. closed since the run on the institution several weeks ago.
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NEWBURG BANK FAILURE CAUSES SECOND SUICIDE James L. Allen, Director in Defunct Institution, Hangs Self HEALTH BROKEN NEWBURG, Ind., March 19.—A second suicide was laid at the doors of the failure of the Farmers' Bank of Newburg Sunday when the lifeless body of James L. Allen, 54, former director in the bank and treasurer of Warrick county for two terms, was found swinging from a rafter in the hayloft of the barn on his farm, one mile west of Newburg. Allen's health broke down shortly after the bank closed its doors upon orders of bank examiners in October, 1921. The body was discovered at 12:30 p. m. when his wife went to the barn to call him to dinner. She failed to see him around the barn and climbed up into the loft. Allen spent the morning in Newburg and was preparing to go with his family to visit a brother in the evening. The first suicide attributed to the bank failure was that of Isham Taylor, of Yankeetown, October 17, 1921, soon after the bank failed. Taylor, a vice-president of the bank, cut his throat the same night he was married to Miss Marie Merrill, his 20-year-old housekeeper. He sent his youthful bride to her father's home before killing himself. Taylor, it is said, believed he would lose most of his property through the bank's failure. Feeling is again running high in Newburg as the result of Allen's
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NOTICE OF THE FILING BY EUGENE G. SARGEANT, RECEIVER OF THE FARMERS BANK OF NEWBURGH, INDIANA, OF HIS FINAL REPORT AS SUCH RECEIVER AND ALSO OF THE FILING BY SAID RECEIVER OF VARIOUS PETITIONS FOR ORDERS OF COURT TO DISPOSE OF AND AFFECTING ASSETS OF SAID BANK AND OF THE TIME AT WHICH AND THE PLACE WHERE SAID FINAL REPORT AND SAID PETITIONS WILL BE HEARD AND DISPOSED OF. Notice is hereby given by Eugene G. Sargeant, Receiver of The Farmers Bank of Newburgh, Indiana, to the depositors in said Bank, and to the stockholders and partners in said Bank, and to the creditors of said bank, and to all persons having claims or rights, or interests in said Bank, or any of its assets, or against said Bank or said Receivership, that the said receiver has filed his final report as such receiver in the office of the Clerk of the Warrick Circuit Court in and for Warrick county, in the state of Indiana, and that said Receiver has also filed in said court his verified petitions
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asking orders of court directing him to sell and dispose of the following assets in his hands as such receiver, to-wit:- Mortgage bonds issued by the Evansville and Ohio Valley Railway Company, of the face amount of Twenty-Two Hundred ($2200.00) Dollars, which petition is designated as "No. 114 1/2-A" in a cause pending in said court entitled "State of Indiana on the Relation of Charles W. Camp, Bank Commissioner vs. The Farmers Bank of Newburgh, Indiana." Also a petition asking an order of court directing said Receiver to sell and dispose of the Sheriff's Certificate of Sale issued by the Sheriff of said Warrick county to said Receiver as purchaser at a sale on a decree rendered in said court in favor of said Receiver and against Robert S. Fowler, which petition is designated as "No. 114 1/2 - C" in said cause of said Bank Commissioner against said bank. Also that a petition has been filed by said Receiver asking an order of court authorizing him to settle and compromise the claims of said Bank and said Receiver against the London and Lancashire Indemnity Company of America as surety on the fidelity bonds executed by John C. Effinger as Cashier of said Bank and by Arthur H. Halverson as Assistant Cashier of said Bank. Also you and each of you are hereby notified that said court has fixed the 22 day of September, 1923, at the Court House in Boonville; Warrick County, Indiana, at nine o'clock A. M., or as soon thereafter as said matters can be heard as the time and place when and where said final report and said petitions and all other petitions and all matters affecting the assets of said estate and the disposition of the same, and all claims to and against the assets of said bank, and the distribution thereof will be finally heard and determined. Given under my hand and seal of office by order of said Warrick Circuit Court this 3rd day of September, 1923. ERNEST WILKINSON, Clerk Warrick Circuit Court. (Sept 7-14-21)
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NEWBURG BANK SUIT TAKEN UP BY JUDGE DURRE Judge Edgar Durre of the superior court took the suit of the board of finance of Ohio township, Warrick county, against George H. Vanada and other directors of the defunct Farmers bank of Newburg, under advisement after the hearing of testimony Wednesday morning. The suit is one of several in which depositors claim to have lost their savings when the bank closed its doors. The township claims to have had about $1,500 on deposit in the bank. On motion of the defendants, George H. Vanada and Amanda M. Allen, administratrix of the estate of Wilson Bradley, the court will prepare a special finding of fact.
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NEWBURG BANK RECEIVER FINDS $10,000 LOST BONDS Evansville, Ind., Jan. 21.—E. G. Sargeant, receiver for the defunct Farmers Bank at Newburg, while looking through some old safety boxes in the reorganized bank, found more than $10,000 worth of Liberty bonds and stamps which were supposed to have been stolen, along with a large number of other bonds and stamps, by former officials who are alleged to have robbed the bank. The bonds and stamps will be turned over to the original owners. The wrecking of the bank has resulted in a great deal of litigation and two men wanted for the alleged theft of government bonds and embezzlement never have been arrested.