Indianapolis Times, Volume 43, Number 286, Indianapolis, Marion County, 8 April 1932 — Page 28

FRAUD ALLEGED PRIOR TO WILD DANK'S CLOSING Receiver Files Petition for Right to Sue on Promissory Notes. Charges that fraud was perpetrated on April 1, 1921, several years preceding the closing of the J. F. Wild 6c Cos. state bank, Richard L. Lowther, receiver, today filed a petition in probate court asking permission from Judge Smiley N. Chambers to file a suit against the makers of promissory notes payable to the bank, which, he asserts, were charged off, resulting in depletion of assets. The receiver’s petition recites that about April 15, 1921, officials of the state banking department threatened to close the Wild bank and delivered an ultimatum that such action would be taken unless the surplus and undivided profits funds were replenished. The bank was closed in July, 1927. Notes Were Signed To meet the situation, $137,500 apparently was contributed by signers of promissory notes payable to the bank and listed as follows in the petition: John J. Appel, note for $25,000 and a further contribution of $27,500 represented in stocks and other securities; Robert I. Todd, $25,000; Henry H. Hornbrook, $17,500; Albert P. Smith, $7,500; S. E. Rauh, $12,500; A. C. Kimberlin, $12,500, and Fred Appel, SIO,OOO. These notes, Lowther asserts, were delivered to J. F. Wild, president of the bank and chairman of its board of directors and entered as a part of the assets. “Subsequently,” the petition continues, “the said Wild or some other officer of the bank, unknown to the receiver, from time to time returned the said notes to the makers thereof, all without authority, right or cause.” Three Now Dead Lowther further charges; “Said cancellation was unauthorized and a fraud upon the bank, its depositors and creditors, and amounted to a gift of the assets of the bank to third persons and resulted in a depletion of assets to the amount of $137,500. Since the bank closed. John T. Appel, Robert I. Todd and A. C. Kimberlin died. Lowther today also filed a suit to reopen the Appel estate in an effort to recover decedent's contribution in the note and securities. Previously the receiver had won a victory in the Indiana supreme court which recognized the claim of the bank upon the estate. Settlement of the Todd estate is pending. The Kimberlin estate has been settled. | Huntington Bank Deposits Rise HUNTINGTON, Ind., April B.—An ! increase of SIOO,OOO has been reported in Huntington bank deposits since start of the national anti-hoarding campaign, according to Paul Jay, county chairman. The campaign | will be continued indefinitely here,! Jay said.

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Wi t h his choice narrowed down to six applicants for the wife job, the m a r rying J. P. of Evanston, Illinois, all e n ded a wrestling match the

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THE INDIANAPOLIS TIMES

APRIL’ 8, 1932