The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-08-15
The Affairs of the Indiana Banking Com

The Affairs of the Indiana Banking Com
pany.
There were no startling developments in the
affairs OF the Indiana Banking Company yester-
day. Mr. Landers, the receiver, began the work
of figuring up the banks assets and liabilities,
but made but little prog and it will doubt
less be many days before the public can know
the exact condition OF affairs. On the door of
the bank yesterday was posted the following no
tice: "rhis bank is in the hands of a receiver,
who will proceed at once to examine into the
condition of affairs, and will promptly make a
report to the court; as soon as enough money
can be collected to make small dividend, it will
be paid to depositors at once" The peculiar
W ording of this notice was not particularly re-
assuring to depOsitors, who congregated about
the bank-cOrner during the day. Nobody, but
the bank officials, can give any thing like ade-
quate idea of the real condition of affairs. and
they thus far have not seen fit to give the pub
lie the facts in their possession. The widest
rumors are afloat, and the feeling among depos-
itOrs Is one of much une asiness. 1t is said that
three township trustees of this county have
the funds entrusted to them i'll this bank,
and il Is also known to be the custodian of vari-
GUS other trust funds of private individuals and
corporations.
SUITS AGAINST THE BANK
number of suits were commenced against
the bank yesterday by depostors. Among the
plaintiffs and amounts demanded the following
were prnmnent; James NJ. Mitchell, Martins.
vile, $4,000; Charles A Wolfram, $1047l;
David Russell, ST., $1,000; Charles s.
Roney, $1,000; Anthony W. Gunkle,
S516. Industrial Life Association SIS, 900;
Ada ]. Meddiok $1,000; Edward White, 81 900;
John N. Heig, 5000; Elijah NJ Breedove,
$1,000 and James N. Church, 81 900 A hun
drQd or more similar suits may be expected
within the next day or two, although is not
exactly clear what the depOsltors expect to gain
by them, as the affairs of the bank are in the
hands ola receiver, who is compelled TO treat all
creditors alike One leading attorney last night
told II Journal reporter that he had been in
structed by n client who had $40, 900 on deposit
in the banking company, to bring suit for that
amount tomorrow, ami he expected to do SO.
Another attorney said that he had advised sew
eral who had consulted him on the subject not
to bring SUR, rs they could gain nothing by it.
THE DEPosIToRs' COMMITTEE
Messrs. John NJ. judah. John A. Holman, Ralph
Hill, C. f. hooker and Andrew Hogan, compris-
ing the committee appointed Mt the depositors'
meeting to consider the propriety of recon-
meuding the appointment of an additional re-
ceiver, held lengthy meeting yesterday after
noon. but did not arrive at any definite CON
clusiOn The opinion freely expressed, ami
seemed to be concurred in by all present. that
Mr.. Landers was not the proper person for the
receIvership, insomuch as ne was not experienced
IN banking matters, ana there was a we'll
grounded suspicion that the Ianders
firm mad more than passing inter
est in the affairs OF the bank. 1t is not
probable that the committee will even
recommend the appointment of an additional
receiver, but Will leave that matter entirely to
the discretion of the depositors at their meeting
today. should they think such course advisa-
BILE, they can then decide upon the proper man
to represent their Interests, and petition the
court for his appointment 1t is urged In oppOsi-
tion 10 This plan, that an additional receiver will
entail very great additional expense in the
Element, much of which would be unnecessary.
But on the other hand many of the depositors-
IA majority, perhaps-are clamorous for direct
representative in the settlement.