The exact page text, read by your browser's voice.
1927–1930 · Federal Reserve bank-suspension schedules (RG 82), read first-hand; Eastburn v. Board of Finance of Union Township, 100 Ind.App. 200 (1935)
The schedules do not name a single Lakeville depositor — but they price the failure the households lived, twice, and their figures are the nearest the record comes to the kitchen table. The Federal Reserve's suspension schedules, read first-hand from the archival folder for Indiana's nonmember state banks, carry the town's bank twice. For 1927: the Lakeville State Bank of Lakeville, St. Joseph County — organized 31 December 1917, suspended 20 January 1927, in a town the schedule counts at 333 people; its condition the day before suspension prints total resources of $176,475.44 against total deposits of $103,325.43; it reopened 27 June 1927. For 1930 the same folder carries the end: organized 31 December 1917, suspended 21 February 1930; its condition at 31 December 1929 prints total deposits of $76,664.66, total liabilities of $121,961.54 and loans and discounts of $67,663.83 — and then the household sentence, in the schedule's own state: still in process of liquidation, with no payments to depositors yet made; a 100 per cent assessment noted against the stockholders, with the schedule's doubt that they would respond freely; the difficulty dated from 1924; the causes marked, at the schedule's own hand, include the decline in real estate values and incompetent management — the markings print here at the strength of the archival text as read. Set against the banked file's institutional aftermath — Union Township's deposited public funds of $14,127.21 recovered from the depository-bond sureties, judgment $16,027.31 affirmed 2 April 1935 in Eastburn — the household picture is the asymmetry itself: the township, a bonded public depositor, was made whole through the courts; the town's families, unbonded, stood in a liquidation that had paid them nothing at the schedule's date, behind a stockholder assessment the receiver doubted. One trap in this folder is dispelled expressly, because search snippets interleave it with Lakeville's schedules: a further schedule printing total resources of $187,290.79, deposits of $129,101.35 and a reopening on 1 May 1930 under the same name is the LaPaz Farmers State Bank of Marshall County, the next bank in the folder — not Lakeville's, and no figure of it belongs in this town's record. The residue names itself: what any Lakeville household finally recovered, and when the liquidation closed, stands in the receiver's final record and in the Lakeville Standard's run — neither reached from open sources, both named current in this lane's accounting. The household aftermath that can honestly stand today is this article: the deposits at risk priced to the cent, the township whole, the families unpaid at the last federal printing.