The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1928-04-20
FOUR Officers
OF Wild BANK
Are Indie
President, Directors and
Cashier Charged With
ENLIGHTENMENT.
WAS CLOSED IN JULY
Charge Deposits Received
Knowing Institution
Was InSOIvent.
WAS CLOSED IN JULY

Four officials of the defunct j. F.
wild and Company State Bank to-
day were indicted on bank embezzle-
ment charges by the Marion County
grand jury. Those indicted:
John F. Wild, ST., president, Col
lege Ave. Rd.
Otto P. Kern, cashier, 1910 Broad
way.
John Craig Fisher, vice president
and director, 2723 N. Pennsylvania
st.
William F. McNairy, Sr., vice pres
ident and director, 1920 Broadway.
Bonds of each were set at $1,000.
The Indictment is based on ale
cations that the indicted officials
knew of the insolvency of the bank
but accepted deposits on the day
it was closed.
Depositors ost Money
The fourteen counts are based on
deposits accepted from individuals
and music company. They are:
Paul Bisesi, 211 E. Maryland St.,
D $4,041; Walter c. Stedfeld and
Georgia Stedfeld. 49o1 N. Pennsyl-
vania ST., $1O,68190; Stephen NJ.
Davis, 4189 Ruckle ST., $252.93;
Theodore Losche, 33 S. Delaware
St., $51880; the Viking Music
Company and Frank G. Viking,
president, 20 E. Ohio ST., $1,84693
and Edward Ludwig, II E. LIE
NGrande Ave, $40.
It is charged that all but $4,000
of these deposits was lost to the
depositors. The depositors named
in the counts and Bank Examiners
Luther Symons and Thomas D..
Barr were named as witnesses on
the Indictment.
Bank ennbezzlement carries a SEN
tence, on conviction of two to
fourteen years in State prison.
Wild Makes Statement
Wild, commenting upon the in
dictment, said: 1.-The j. F. Wild and
Company State Bank was solvent
when it was closed and hold GER
. titled public accountants report to
that effect"
McNairy said his relations with
a the bank had been in the bond de-
partment and that he was deluctant
to discuss the predictment until full
~ informed of the charge. They've
got to show me first" he said, that
the bank was inSelvent."
Kern is i'll at his home and unable
to make a statement, Mrs. Kern
said.
The Wild bank was closed by
State examiners July 30, 1927. 1t
was carried into receivership
through Probate Judge Mahlon E.
Bash. Eugene Iglehart and Rich
ard L. Lowther, attorneys, are re-
ceivers for the defunct institution
Subsidiary Benefits
Several months ago it was pre-
dicted that the bank would pay SO
cents on the dollar to depositors
Since then, one dividend of 40 per
cent has been declared and paid.
The receivers have made an in
Avestigation of the company's prop
Verify in Florida and are attempting
to sell this and realize as much
money as possible on these invest
ments, made during the boom
period of the southern State. Suits
are pending in Superior Court Two
on notes amounting to 100000 that
were advanced to the bank.
Efforts were made by the receiv-
ers to have these classes as assets
of the institution, but rulings were
given against this procedure in the
county courts.
In December it was revealed in g
court case before Superior Judge
} William o. Dunlavy that the Ele-
] vator Realty Company, subsidiary
firm of the bank, operating grain
elevator in Beech Grove, had bene-
flied from several thousad dollars
transferred to it's books.
Robbery Blamed
The last statement of the banl
showed total resources, $6,537 $3.50
savings deposits, $1,276, 721. 40; bonds
on hand, $7107.7O; special deposits
$7,55961. and demand deposits O.
$2,577 997.73.
The paid-in capital. stock wa
100000, with a surplus of $4,000
and $145, 1898 in undivided profits
The bank was holding $1,800,000 il
first mortgage certificates.
At the time the doors were CLOSED
bank officials stated that the bank
assets would probably be liquidatec
without loss to depositors, and the!
also declared that they attributed
the condition of the bank PARTIAL!
to the robbery, Nov. 10, 1926, il
which $271 500 worth of bonds wer,
lost Only small part of TIT
bonds were recovered.