Audubon Republican

Indiana Men Owe $150,000 to Banks.

Thomas C. Hammond and Jerome Allen Are Indebted to Financial Institutions in Large Sum.

Greencastle, Ind., March 9.—Bankruptcy court summonses were served here on Thomas C. Hammond and Jerome Allen, late president and cashier respectively, of the First National bank of this city. Two weeks ago the two men made a voluntary assignment of their individual property after a suit had been filed against them for the collection of a note of $5,000 by Alfred Hirt, the president of the bank. Since then it has become known that Hammond and Allen are indebted to the First National bank for $59,000, to the Columbia National bank of Indianapolis for $6,500, to the First National bank of Brazil for $4,000, to the Riddle National bank of Brazil for $3,000, to the National State bank of Terre Haute for $2,500, to McKeen & Co. of Terre Haute for $2,000 and to other parties, mostly private citizens including many women, to an aggregate of almost $150,000. The assignment was made to the Central Trust Company of this city. Their assets are said to be valuable and ought to pay some 50 or 60 per cent on the dollar. There is a possibility of federal proceedings outside the bankruptcy court.