gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
dab43a5dc70d860c
Response Measures
None
Events (4)
1.July 30, 1927Suspension
Cause
Government Action
Cause Details
Closed by State Bank Commissioner Luther F. Symons following an examination; state banking department ordered the bank closed.
Newspaper Excerpt
Examiners continued to work today on the check-up following the closing Saturday noon of the J. F. Wild & Co. State Bank
Source
newspapers
2.August 2, 1927Receivership
Newspaper Excerpt
Eugene H. Iglehart, Indianapolis attorney, newly appointed receiver of J. F. Wild and Co., State Bank, conferred with officers of the state banking department today regarding steps to protect the bank's depositors.
Source
newspapers
3.October 17, 1927Other
Newspaper Excerpt
Sale of assets of the defunct J. F. Wild & Co. State Bank will be held at 9 a. m. Tuesday at the bank building.
Source
newspapers
4.November 15, 1927Other
Newspaper Excerpt
Probate Judge Mahlon E. Bash today said he will name a date for first payments on accounts of depositors of the defunct J. F. Wild and Company State bank soon.
Source
newspapers
Newspaper Articles (19)
1.August 1, 1927The Indianapolis TimesIndianapolis, IN
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WILD BANK IS BEING CHECKED State Commissioner Confers With President. BULLETIN A receiver must be appointed to wind up affairs of the J. F. Wild & Co. State Bank, State Bank Commissioner Luther F. Symons declared today. State examiners have not determined how much depositors will lose, but they should be prepared to suffer some loss, Symons' statement said. Examiners continued to work today on the check-up following the closing Saturday noon of the J. F. Wild & Co. State Bank, 123 E. Market St. A conference, was. held this morning between State Banking Commissioner Luther F. Symons, who ordered the bank closed, and J. F. Wild, founder and president of the institution. It was announced by Symons that a joint statement of the bank officials and the State banking department would be forthcoming. Patrons having safety deposit boxes at the bank will be permitted to obtain their contents soon, Symons declared. The closing of the institution will in no way affect persons having valuables stored for safe keeping.
2.August 2, 1927Rushville RepublicanRushville, IN
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WILD BANK RECEIVER
Indianapolis, Ind., Aug 2-(U.P)Eugene H. Iglehart, Indianapolis attorney, newly appointed receiver of J. F. Wild and Co., State Bank, conferred with officers of the state banking department today regarding steps to protect the bank's depositors. He was named by Judge Mahlon E. Bash on petition of Luther F. Symons, state banking commissioner, who closed the $7,000,000 bank Saturday, and qualified at once by providing bond of $500,000.
3.August 2, 1927The Daily RepublicanRushville, IN
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WILD BANK RECEIVER
Coleman Mustard Indianapolis, Ind., Aug 2-(U.P.)- Curry Powder Eugene H. Iglehart, Indianapolis Saccharine Red and Black Pepper attorney, newly appointed receiver Mixed Spices Salicylic Acid of J. F. Wild and Co., State Bank, conferred with officers of the Tumeric Parafin state banking department today regarding steps to protect the bank's Every Commodity, Pure and Fresh, depositors. He was named by Judge Mahlon E. Bash on petition of Lu- Insuring the Best Results. ther F. Symons, state banking commissioner, who closed the $7,000,000 bank Saturday, and qualified at Johnson's Drug Store once by providing bond of $500,000.
4.August 3, 1927The TimesHammond, IN
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WILD BANK RECEIVER QUALIFIES
INDIANAPOLIS, Ind., Aug. 3-(U. P.)-Eugene H. Inglehart, Indianapolis attorney, newly appointed receiver of the J. F. Wild and Co. State bank, conferred with officers of the state banking department today regarding steps to protect the bank's depositors. He was named by Judge Mahlon E. Bash on petition of Luther F. Symons, state banking who closed the $7,000,000 bank Saturday, and qualified at once by providing bond of $500,000.
5.August 4, 1927The Indianapolis TimesIndianapolis, IN
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WILD BANK LOSS OF 20 PER CENT SEEN posits, pending settlement of the Depositors in the J. F. Wild & bank affairs, it was learned. Co. State bank, closed by the The audit being made by the State banking department Saturbanking department continues, day, will suffer a 20 per cent loss, State Bank Commissioner Luther F. or possibly slightly less, bankers in Symons announced today that it touch with the Wild Bank situation was unlikely that it would be combelieved today. pleted until the first of next week. Other Indianapolis banks are Attorney E. H. Iglehart, receiver loaning the Wild institution deposifor the institution, declared that he tors up to 60 per cent of their dewould make a statement to depositors as soon as he received the audit. "This probably will be in the midJURORS PROBE dle or latter part of next week,'.' Iglehart, said. He knew nothing of a meeting of depositors to be held GRADER LOAN in Superior Court, Room 1, Friday night. According to announcement, the meeting will be for the purpose of Contractor That Hear organizing depositors to protect their interests, but names of the Used County Machine. organizers have not been made public. The Marion County grand jury There are approximately 18,000 stopped its investigation of political accounts at the bank and the total corruption today long enough to deposits are a little less than $4,000,look into alleged irregularities by 000. he reported. county officials. "Our work at the bank is being The jury investigated alleged retarded some what by the many inloaning of a county road grader to quiries which we receive," Symons Smith Hawkins, Shelby County conasserted. "Should we assume a tractor. It was said Commissioner high-handed atitude toward the George Snider, minority member, public we might progress more found the grader on a road south of rapidly, but it is the department's Shelbyville. policy to be courteous and to give Luther Tex, road superintendent, information to all legitimate insaid Hawkins had previously loaned quirers." the county some equipment. The general banking situation in Snider, Tex, John Carlisle, counthe city has not been affected. ty auditor's office employe. and
6.August 13, 1927The Indianapolis TimesIndianapolis, IN
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DEPOSITORS TO MEET Special Wild Committees to Report Tonight. Depositors of the J. F. Wild and Company State bank will meet tonight at 7:30 at 813 Lemcke Bldg., to hear reports of special committees. According to J. J. Davis, head of the depositors' committee, action to be taken or the substance of reports made will not be announced for several days. Control of the bank passed to the co-receivers Eugene H. Iglehart and Richard L. Lowther Friday.
7.October 17, 1927The Indianapolis TimesIndianapolis, IN
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WILD SALE ORDERED Bids on Bank Assets to Be Received Tuesday. Sale of assets of the defunct J. F. Wild & Co. State Bank will be held at 9 a. m. Tuesday at the bank building. It is understood there will be at least two bids for the bonds, real estate, mortgages and other assets. Probate Court Judge Mahlon E. Bash ordered sale of the assets in a group, not less than for $3,750,000. Since Superior Court Judge Linn D. Hay has restrained the receivers from selling $100,000 worth of "accommodation" notes given the bank by Frank Millikan, business man; Robert I. Todd, president of the Indianapolis Street Railway Company, and John J. Appel of Gregory & Appel, the top mark will be $3,650,000.
8.November 15, 1927The Indianapolis TimesIndianapolis, IN
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PLAN WILD PAYMENTS Depositors to Get Cash From Early Assets Sales. Probate Judge Mahlon E. Bash today said he will name a date for first payments on accounts of depositors of the defunct J. F. Wild and Company State bank soon. The distribution will not be the entire amount to be received by depositors, Judge Bash said. About $1,300,000 of the $3,650,000 worth of assets of the institution have been liquidated. Judge Bash pointed out that this amount includes cash received for sale of bonds to the Union Trust Company and $400,000 worth of notes that have matured since Eugene H. Iglehart and Richard Lowther became receivers.
9.November 30, 1927The Indianapolis TimesIndianapolis, IN
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WILD ORDER CONTINUED By agreement of attorneys, the restraining order against receivers of the J. F. Wild & Co. State Bank, preventing them from selling $100,000 worth of "accommodation notes" as assets, was continued Tuesday by Superior Judge Linn D. Hay. The temporary order will stand pending a hearing on a permanent injunction.
10.December 3, 1927The Indianapolis TimesIndianapolis, IN
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Former Official of Banking Institution and Its Subsidiary Tells of 'Sleight of Hand' Shifting of Accounts. PRACTICE CONTINUED FOR YEARS Judge Dunlavy's Searching Quiz Brings Full Details at Hearing to Set Aside Receiver Appointment. (Story of Detailed Examination On Page 11) How $171,000 of the assets of the now defunct J. F. Wild & Co. State Bank was used to pay the debts of the Elevator Realty Company, a subsidiary firm of the bank, controlled by bank directors, was told Superior Court Judge William O. Dunlavy Friday afternoon. The story was revealed when attorneys for the realty company sought to set® aside appointment of U. S. Lesh as receiver by the court Thursday on default on a receivership suit filed by Harry Meloy, stockholder. Otto B. Kern, former secretary treasurer of the realty company and director of the bank, and Stephen M. Davis, 4189 Ruckle St., accountant who investigated the books of the bank and realty company, faced examination by Attorneys Thomas A. Daily and Charles T. Hanna, representing Meloy and Kurt F. Pantzer.
11.December 5, 1927The Indianapolis TimesIndianapolis, IN
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STOLEN BONDS OF WILD BANK MAY BE FOUND Receivers Hope to Recover Part of $271,000 Loot, Long Gone. GRAND JURY ON PROBE Investigation Being Made; Depositors' League Is Ready to Act. Hope that some of the $271,000 in negotiable bonds stolen from the J. F. Wild & Co. State Bank, Nov. 17, 1926, will be recovered is entertained by receivers for the bank, now defunct, Richard O. Lowther, one of the receivers, said today. The Marion County grand jury has had the bond theft under investigation from time to time ever since the bonds disappeared. The theft was one of the factors in the bank's crash, July 31, 1927. The grand jury now has before it testimony given in Superior Court Three last Friday, disclosing that the bank officials diverted $171,000 from "profit and loss account" to pay dividends upon preferred stock of a subsidiary realty firm and retire some of the stock, when the subsidiary failed to make a profit itself. Lowther said that the receivers had been conducting a quiet search for the bonds and hoped soon to compel the return of some of them. Several months after the bonds disappeared, $51,000 worth of them were traced to a man in Minneapolis. He was arrested. He said he obtained them from a garage owner. He, too, was held. Local detectives, however, failed to bring the men here, because they obtained their liberty on a writ of habeas corpus, the judge holding the evidence against them insufficient. Joseph R. Williams, attorney for the Wild Depositors' League, attempting to aid the receivers to get as much out of the bank assets as possible, said: "We will ingist that Probate Court compel the receivers to file such suits as the law will sustain against present officers of the bank and those who have been connected with it in an official capacity since 1921. "We also shall insist that suit be brought on the bond given by J. F. Wild, Sr., as president, and Otto P. Kern as cashier, for faithful performance of their duties." Williams stated that the receivers had told a depositors' league committee three weeks ago that they hoped to have some of the stolen bonds back within ten days. The bank had $75,000 worth of theft insurance upon the stolen bonds. Only $50,000 worth of this insurance has been paid.
12.January 23, 1928The Indianapolis TimesIndianapolis, IN
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QUIZ WILD CO. RECEIVER Lowther Questioned Regarding Affairs of Defunct Bank. Richard L. Lowther, a co-receiver of the defunct J. F. Wild & Co. State bank, testified before the Marion County grand jury today. He and Joseph R. Williams, attorney for depositors, have been heard by the present jury. According to reports, the jury plans to complete investigation of the bank's affairs within a few weeks. The former grand jury was unable to complete the probe because of the close of its term, Dec. 31.
13.July 13, 1928The Indianapolis TimesIndianapolis, IN
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RULE ON WILD VALUES The State tax board Thursday ruled that it has no jurisdiction to reduce the 1927 taxation valuation of real estate owned by the defunct J. F. Wild it Co., State Bank. Receivers of the bnk asked that the valuation of $1,100,280 on property wned by the bank in Center Township be reduced to $530,000.
14.September 22, 1928The Indianapolis StarIndianapolis, IN
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STATUS OF BANK DISPUTED
Witnesses Disagree on Insolvency of Institution in Note Case Testimony.
The J. F. Wild & Co. State bank not insolvent when it was closed last year by the state banking department, Stephen M. Davis, public accountant, testified yesterday at the hearing conducted by Judge Linn D. Hay of Superior court, Room 2. on petition by which three signers of notes totaling $100,000 seek to prevent the bank's receiver from selling the notes with other assets of the defunct bank. Mr Davis based his testimony on an analysis of the banking department's final bank, which he made for the committee organized shortly after the institution failure. Contrasted to this testimony the statement of Richard Lowther, one of the receivers, that the bank's directors had "marked up common stock Majestic building, Wild bank asset, from $275,000 eight days after the theft of in bonds from the bank on Nov. 19, This value was included in the bank examiner's report, it was shown. Appraised at Higher Figure. On Lowther testified that the Indianapolis Real Estate Board had appraised the building at that figure after the stock was "marked Mr. Davis stated that his analysis the bank commissioner's report showed that the institution could have paid all liabilities and then turned $65,000 to the stock holders bank was capitalized On the other hand, Mr. Lowther stated that round the bank had assets and liabilities of when he took its management. Mr. Davis and Mrs. Elizabeth Calland, testified that they had retained their accounts the bank because published statements of the bank's condition showed in sound condition Mr. said he had assured the that was in condition. tion he admitted that the published were "not entirely misleading.
Contends Closing Unnecessary. James W. Noel, attorney ing the defunct bank, asserted just before Mr. Davis was placed on the witness stand that are contend from now on that the bank not insolvent and should not have been Samuel Good, examiner for the banking that the notes in were cluded in assets the bank, according to his Signers of the note were Frank M Millikan, Indianapolis capitalist: John Appel, president Grogory Robert dead, former president the apolis Street Railway Millikan signed an $50,000 and the other signed similar notes for $25,000 each. Hay B. Ross, one of the attorneys for
15.January 16, 1929The Indianapolis TimesIndianapolis, IN
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# WILD CASE RULING
# WILL COME SOON
Ruling on the suit in which Richard L. Lowther, receiver for the defunct J. F. Wild & Co. State bank, seeks to have $100,000 worth of "accommodation notes," donated to the institution by Indianapolis business men, declared salable assets, is expected to be given soon by Superior Judge Linn D. Hay.
The court took the matter under advisement Tuesday afternoon, after several hours argument by attorneys on each side. He indicated that he would rule as soon as he had reviewed the evidence.
The men who gave the notes were Robert I. Todd and John J. Appel, both of whom have died since the bank was closed, and Frank M. Millikan.
Attorneys for Lowther declared the bank was insolvent several months before it was closed, and that the bank examiner was misled by the presence the "accommodation paper" in the bank which, he alleged, was published as assets of the institution.
Attorneys for the deceased men and Millikan asserted the bank was solvent and that it was closed without consideration of assets actually held.
16.February 8, 1929The Indianapolis TimesIndianapolis, IN
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COUNTY PROBE IN WILD BANK CASE ORDERED Second Quiz to Be Started in Condition at Time of Closing. IS ISSUE SOLVENCY Hope to Settle Conflicting Reports of Examiners by Inquiry. Investigation of the financial condition of the J. F. Wild & Co. state bank, when its doors were closed by state banking examiners about two years ago, will be reopened by county authorities within the next few days, it was reported today. Homer Elliott, former federal district attorney, is to be appointed prosecutor special deputy the to bank's carry on the second probe into it was said. failure, an immediate personal He investigation will begin and later submit the facts he obtains to the county grand jury for consideration. Solvency Is Issue The main point in the quiz will be to determine whether the bank actually was insolvent when it was closed in July, 1927. On the quesof the results of tion will hang possible solvency, the it is criminal known, Two were in investigation. countants charge firms of and of tabula- ac- acof the bank's books, to evidence cording tion given the in bank's court cases, growing out of one of the insolvent failure, the bank while firms the declared other disputed this statement. Prosecutor Judson L. Stark declined to comment on possible moves relative to reopening the investigation. An indictment, charging bank embezzlement, returned by a prejury J. Fisher, vious Wild, grand Craig named W. John H. Mc- F. Nary and Otto P. Kern, officers of the bank, as defendants." A motion this weeks ago to tained quash several indictment by was Crim- susinal Judge James A. Collins. The true bill alleged that officers the bank continued to accept from depositors of money when insolvent they were aware of the alleged condition of the institution. Richard L. Lowther, receiver for the bank, has returned 67.5 per cent in 5 per cent dividend lots to deIt is reported that several are as other positors. payments planned Indian- soon as properties of the bank in apolis and Florida are sold. Realty Company Sold Ruling on a suit by Lowther to sell as assets $100,000 worth of "accommodation notes" given the bank by Frank M. Millikan, the late Robert. I. Todd and the late John J. now is awaited. Superior Linn D. Hay is Appel, Judge the exected case soon. to give his decision in also is Lowther shareholders trying to and collect the $151,000 from of the Elevator in a suit before pany assets Superior Realty Judge ComWilliam O. Dunlavy. The realty company, a subsidiary of the bank, "leeching" the bank for money to and was operate pay stock dividends, it is alleged.
17.April 1, 1929The Indianapolis TimesIndianapolis, IN
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F. WILD BANK NEAR CRASH IN '21, NOTES SAY Overdraft by Elevator Firm Caused Early Tangle in Affairs. The J. F. Wild & Co. State Bank, which was closed in July, 1926, was perilously close to a crash in April, 1921. and was saved only by the pouring in of $380,395 of money and securities by friends of the president, J. F. Wild, it was disclosed today. The disclosure was contained in a memorandum, signed by the directors and stockholders of the bank, which has been made part of the record in the suit of Richard L. Lowther, received for the Wild bank, against the Elevator Realty Company. a bank subsidiary also in receivership. The suit seeks to recover $172,000 alleged to have been paid by the bank to keep the realty company functioning for several years. The $380,395 raised in the 1921 emergency was to cover an overdraft of that amount which the bank officials had permitted to accumulate in the account of the Big Four Elevator Company. Meetings Held The memorandum discloses that the bank officials and officials of another Indianapolis bank held hurried meetings and hustled around from financier to financier to raise the money while a state bank examiner held over them an ultimatum that the overdraft had to be covered by a certain date. Henry H. Hornbrook, then attorney for the bank, proposed a plan "to meet the siutation" at a meeting April 15, 1921. According to the bank records, his plan, which was followed, was that the Big Four company give its demand note for the full amount of the overdraft indorsed by LeRoy Urmston, then president of the company and owner of the common stock of the Elevator Realty Company. The Elevator Realty Company was to increase its preferred stock to $200,000 and its common to $100,000, with the preferred stock then outstanding to be retired and the bank to purchase the new preferred stock at 95, which would produce $190,000.
18.May 7, 1929The Indianapolis TimesIndianapolis, IN
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WILD SUIT DATE SET Hearing in Action Against Realty Firm to Be Held May 15. Oral arguments in the suit of Richard L. Lowther. receiver of the defunct J. F. Wild & Co. State Bank, against stockholders of the Elevator Realty Company, a subsidiary firm. in which he seeks to collect $172,000 will be heard by Superior Judge William O. Dunlavy May 15. Lowther, in his petition, alleges the bank paid the money into the realty company to sustain it and that the realty company's property was worth only $40,000. A hearing was held on the petition before Dunlavy several weeks ago in which alleged juggling of accounts by the bank to the company was revealed.
19.April 26, 1933The Indianapolis TimesIndianapolis, IN
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# WILD BANK TO PAY DIVIDEND
Additional 2.5 Per Cent Payment Is Ordered by Judge.
Distribution of an additional 2½ per cent dividend to depositors of the defunct J. F. Wild & Co. state bank was ordered today by Probate Judge Smiley N. Chambers.
With 62½ per cent previously paid, this allowance makes a total 65 per cent dividend to depositors, Receiver Richard L. Lowther told the court.
"This will not be the last of the dividend," Chambers said. He directed Lowther to write each depositor explaining status of the trust.
Cash on hand, available for distribution, is $93,818, Lowther's report to the court states. However, only $85,037 will be disbursed at this time.
The receiver asked permission to retain part of the fund to complete operation of the receivership.
Fund from which the payment is made was secured from judgments against estates of John J. Appel, Robert I. Todd and from Frank N. Millikan, former directors of the institution, the petition stated.
The receiver has collected majority of the $115,000 put up by the directors on accommodation notes prior to the bank's closing, according to Chambers.
Letters from Lowther accompanying the dividend checks stated that unliquidated assets left in the receivership total about $500,000.
While the court and receiver desire to liquidate these assets immediately, he said, they feel that it is advisable to await better real estate market conditions.
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.
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J. F. Wild & Company State Bank · UID 7798624191531
