Greater Indianapolis ;the history, the industries, the institutions, and the people of a city of homes . n the dollar to depositors,after assessing stockholders par value on theirshares. This, was rather a shock to popularfaith in national bank examination, as thebank had been reported on a week before itclosed, on July IT. 1893, a< in good condition,and out of -Itl ,548,999 in loans and discountsthe i)robable loss on bad debts was estinuiterlby the examiners at only $ Thi- was the last bank failure in Tndian-a])olis until the Richcreek affair in 190T. iftliat fiasco could be ditrnif
Greater Indianapolis ;the history, the industries, the institutions, and the people of a city of homes . n the dollar to depositors,after assessing stockholders par value on theirshares. This, was rather a shock to popularfaith in national bank examination, as thebank had been reported on a week before itclosed, on July IT. 1893, a< in good condition,and out of -Itl ,548,999 in loans and discountsthe i)robable loss on bad debts was estinuiterlby the examiners at only $ Thi- was the last bank failure in Tndian-a])olis until the Richcreek affair in 190T. iftliat fiasco could be ditrnified as a bank fail-UT-e. Seth ^[. Richcreek appeared in Indian-apoli-i in 1892, and opened a law office, butsoon devoted his attention to buying streetassessment liens. He had left his countryhome when a boy, and had just reai)pearedafter an absence of 25 years, no one knewwhere. He made a larac amount of monev in •Coffin vs. I. « Coffin vs. r. S. 15() V. S., p. T. |). GG4. AV/cs. Julv 25, 1893. lllsroKV OF UEEATER INDIANAPOLIS. 355 MAP OF IMDIANAPOLIS AND HER RAILROAD CONNECTIOMS^. BOARD OF TKADK MAP. ISRI! IllSTOKY OF GKEATEH IXUIAXAPOLIS. a short tinic by bringing suits on assessmentliens and forcing payment of attorneys feeson compromise settlement. He then developedinto a sort of broker, and in March, 1904,started The Eichcreek Bank. In 1907 he daz-zled the community by announcements of anew bank building. He leased the Phoenixblock, at Market and Delaware streets, for 99years, agreeing to pay $5,000 a year rental fortwo years, ?(!(i,.jOO for one year, and an addi-tion of .$150 a year for the next 96 years;also to erect a block costing not leess than•HI , covering this property and 40 feetadjoining on Delaware street that already be-longed to him. He contracted for the steelwork for the building, to cost $32,000. ^leanwhile nobody ever knew what was in hisbank. The law of 1905 governing private banksrequired reports but did not authorize exam
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Keywords: ., bookauthordunnjaco, bookcentury1900, bookdecade1910, bookyear1910
