3541. Arcola State Bank (Arcola, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 1, 1927*
Location
Arcola, Illinois (39.685, -88.306)

Metadata

Model
gpt-5-mini
Short Digest
2933b6e0003dea2f

Response Measures

None

Description

Articles report the Arcola State Bank closed in February 1927 and is in receivership; no mention of a depositor run. Receiver approved May 21, 1927; first dividend of 15 cents on the dollar planned. Cause of failure not stated in the provided extracts.

Events (2)
1. February 1, 1927* Suspension
Cause Details
Article does not specify the cause of the suspension/closure; only states the bank closed in February and later went into receivership.
Newspaper Excerpt
the defunct Arcola State bank which was closed February
Source
newspapers
2. May 21, 1927 Receivership
Newspaper Excerpt
Arrangements being made ... depositors of the defunct Arcola State bank which was closed February ... T. E. Lyons, trustee of the bank approved as receiver by Judge Boggs week, and given pow[er] to collect and compound debts ... first payment will be 15 cents on the dollar.
Source
newspapers

Newspaper Articles (2)
1. May 22, 1927 Herald and Review Decatur, IL
Article from Herald and Review, May 22, 1927

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Article Text

APPROVE ARCOLA BANK RECEIVER First Payment to Be Fifteen Cents on Dollar: Court Appoints Appraisers ARCOLA. May 21-Arrangements being made make first ments depositors of the defunct Arcola State bank which was closed February in near future. The receiver that the first ment will be 15 cents on the dollar. T. E. Lyons, trustee of the bank approved as receiver by Judge Boggs week, and given powcollect and compound debts. and personal property and real terms as the court may approve. Mell Crew of Arcola, Grover Helm Tuscola and John Poorman Humbolt appointed as appraisof the property be Returns Decatur Father Toomey pastor of the Catholic in Arcola has returned where he has in the hospital for the past two An examination showed he from an affection of the bones of the and will probablya require an operation for reMike McCafferty has been very seriously 111 this week to the Mayo clinic at Rochester, Minn., for Mr. and Mrs. John Lyons and sons of Dallas, Texas. are visiting at the home of his mother. Mrs. Lizzie ons John been employed the offices the M. K. raliroad for number of years at

2. June 25, 1927 JG-TC: Journal Gazette and Times-Courier Mattoon, IL
Article from JG-TC: Journal Gazette and Times-Courier, June 25, 1927

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Article Text

PLOW IS BITTEN BY RACER SNAKE June Moore, year old Moore, Salem, arm by blue racer snake times before succeeded ing the reptile. He was plowing his father's farm, and the snake, which about three feet long, crawled up of his The medical attention and effect expected, the racer said be not polsonous. Agency and and George with the Union Trust and the family been long residents this and their hosts friends sincerely regret they are leaving the Mr. Mrs. Groves and daughter Kathryn will leave Arcola days for Hoquaim, Wash., where they will make home for time. Since the closing the Arcola State Bank, which Mr. Groves he has Lyons, receiver the bank, but ranging Mrs. Will McMillin, Mrs. James Breedlove, Cora James Davidson, Mrs. Lester Lucile Mrs. Moyer, Mrs. members of the Arcola Shrine attended the Southern Illinois White Shrine Mattoon Tuesday ening. They present at the the afternoon.