3639. Illinois Trust & Savings Bank (Champaign, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
December 29, 1927
Location
Champaign, Illinois (40.116, -88.243)

Metadata

Model
gpt-5-mini
Short Digest
80e5014488b6ff6f

Response Measures

None

Description

The articles describe the Illinois Trust & Savings Bank as defunct with a receiver appointed and ongoing receivership litigation in 1928. The bank had closed (articles give closure dates of December 29, 1927, though one article references a failure 'last October' — minor inconsistency in reporting). There is no contemporaneous description of a depositor run; instead the coverage concerns insolvency, receivership, and collection actions by the receivers (e.g., writs to seize assets). Thus this is a suspension that became permanent (closure) with a receivership.

Events (3)
1. December 29, 1927 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank found insolvent; officers later prosecuted for accepting deposits after bank was insolvent; bank closed and ceased operations in late 1927.
Newspaper Excerpt
the bank closed its doors on December 29. 1927
Source
newspapers
2. May 3, 1928 Other
Newspaper Excerpt
Deputy seized 'land yacht' on past due note; writ drawn in favor of the defunct Illinois Trust and Savings bank of Champaign to satisfy $21,500 which the bank's receivers said Pyle owes them; receivers said the note was given ... three years ago. Receivers also had writ of attachment against Harold 'Red' Grange for $21,502.
Source
newspapers
3. May 3, 1928 Receivership
Newspaper Excerpt
defunct Illinois Trust and Savings bank of Champaign ... receivers said Pyle owes them $21,500 on an unsecured note; deputy seized the truck under writ of attachment in favor of the defunct Illinois Trust and Savings bank of Champaign to satisfy a $21,500 note, which the bank's receivers said Pyle owes them. (Also: when he appointed receiver in 1928 — George McComb testified about appointment and receivership affairs.) receiver ... appointed in 1928 and receivers actively pursuing debts May 3, 1928.)
Source
newspapers

Newspaper Articles (12)
1. May 3, 1928 Carthage Evening Press Carthage, MO
Article from Carthage Evening Press, May 3, 1928

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Article Text

"COLD CASH" PYLE'S CRUISING COACH SEIZED BY ILLINOIS AUTHORITIES TO SATISFY $21,500 BANK DEBT (By the Associated Press) Joliet, III., May 3.-Charles "Cash" Pyle, promoter of the transcontinental bunion derby, has lost his palation "home on wheels." After deputy sheriffs had followed him for several days to serve a writ of attachment in favor of the defunct Illinois Trust and Savings bank of Champaign to satisfy a $21,500 note, which the bank's receivers said Pyle owes them, a deputy found him at Elwood, near here, and took the truck. Receivers of the bank said the note was given by Pyle without security three years ago. The truck, weighing 12 tons, has been the home of Pyle and his followers since leaving the Pacific coast. March 4, with transcontinental runners. It cost $25,000 and is equipped with berths, a kitchenette, shower baths, electrical refrigeration and everything found in the modern home. The bank's receivers said they had a writ of attachment also against Harold "Red" Grange, former University of Illinois football star and one of Pyle's aides, for $21,502 to satisfy a note they said he gave the bank without security.

2. May 3, 1928 Nevada State Journal Reno, NV
Article from Nevada State Journal, May 3, 1928

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Article Text

PYLE'S May JOLIET, entrepeneur of the Pyle, les "bunion" derby, "home on wheels" his palatial lost today After deputy sheriffs had followed writ several days to serve him for favor of the of funct attachment Illinois Trust Savings bank of Champaign to satisfy bank's which note, said Pyle owes them. deputy finally located him Elwood, near here, today and took the truck. Receivers of the bank said the note was given by Pyle without curity three The truck, weighing 12. tons, has been the home of and his followers since leaving the Pacific coast, March with the trans-continental runners. It cost is equipped with berths, kitchenette, shower baths, electrical refrigeration and everything found in the modern home. said they bank's receivers The attachment also writ of had Grange, forHarold "Red" against Illinois football University of mer aides, for one of Pyle's star and they said satisfy note $21,502 without security. the bank he gave

3. May 3, 1928 Brownsville Herald Brownsville, TX
Article from Brownsville Herald, May 3, 1928

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Article Text

C. C. PYLE OF BUNION FAME RIDES FLIVVER Deputy Seized 'Land Yacht' on Past Due Note; Gavuzzi Gets Shave and Loses NORMAL, III., May 3.-(P)-Charley "Cash" Pyle didn't loll about in his $25,000 "land yacht" to watch his army of transcontinental racers plod their weary way to fame and fortune today. Instead he rode in an open flivver. The luxury that has been his since the start of the cross country derby at Los Angeles, March 4, was ended abruptly near Joliet yesterday when a deputy sheriff seized the "land yacht," a 12-ton truck equipped with a radio, shower bath, berths, electrical refrigeration and every modern convenience. The writ was drawn in favor of the defunct Illinois Trust and Savings bank of Champaign, III., receivers of which say Pyle owes the bank $21,500 on an unsecured note. When the cash was not forthcoming, the deputy confronted Pyle with the writ and took the truck. Pyle then had to hire a car to take him to Normal, last night's stop. Harold "Red" Grange, assistant to Pyle in the derby and former University of Illinois football ace, also was threatened with a similar writ, the receivers claiming he owes the bank $21,502 on another note. Both notes were signed about thre years ago, said the receivers. Peter Gavuzzi of Southampton, England, lost 35 minutes and one second of his lead in the derby by finishing in a tie for sixteenth place in the 34.6-mile jaunt from Lincoln to Normal yesterday but still retains his lead over the field of 71 runners of four hours and 51 minutes. It was the first day the Englishman had run in the derby without his beard. Taking the defeat as an ill omen, he intends to grow a new beard to carry all the way to New York, the final stop. Andrew Payne of Claremore, Okla., still holds second place with the time of 376:41:53 for the 2,265.3 miles traversed so far. Pontiac, III., was today's destination.

4. May 3, 1928 Austin American-Statesman Austin, TX
Article from Austin American-Statesman, May 3, 1928

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Article Text

'CASH AND CARRY' PYLE LOSES HIS PALATIAL HOME ON WHEELS' Charles (Cash) Pyle, entrepeneur of the transcontinental bunion derby, lost his palatial "home on wheels" Wednesday. After deputy sheriffs had followed him for several days to serve a writ of attachment in favor of the defunct Illinois Trust and Savings bank of Champaign to satisfy $21,500 which the bank's receivers said Pyle them. deputy finally located him at El- wood, near here, today and took the truck. Receivers of the bank said the note was given by Pyle without security three years ago. The truck, weighing 12 tons, has been the home of and his followers since leaving the Pacific coast, March 4, with the transcontinental runners. cost $25,000 and is equipped with kitchenette, shower baths. electrical refrigeration and everything found in the modern home.

5. May 3, 1928 Altoona Tribune Altoona, PA
Article from Altoona Tribune, May 3, 1928

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Article Text

PALATIAL TRUCK HOME IS SEIZED TO SATISFY NOTE the continental his palatial wheels deputy sheriffs had followed him for several days in favor of the defunct Illinois Trust and Savings Champaign to satisfy 000 note, which bank's receivers said deputy ally near here, and the truck. of the the note was given Pyle without security years The weighing tons, has been the home of and his folPacific March with the and refrigeration found in the modern The barrk's receivers said they had attachment also against Harold Grange, university Illonois and of aides, for $21.502, satisfy note said he gave the bank without

6. May 3, 1928 Chattanooga Daily Times Chattanooga, TN
Article from Chattanooga Daily Times, May 3, 1928

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Article Text

PALACE ON WHEELS TAKEN FROM PYLE Deputies Finally Successful in Chase Aft r Car. Big Truck Serve as Traveling Home of Derby Promoters an Runners. Charles ("Cash") Pyle, prom ter of the transbunion de lost his palatial "home on After deputy had followed him for several days to writ of attachment in favor of the defunct Illinois Trust and Savings bank. of Campaign, satisfy $21,500 note, which, the bank's said, Pyle owes them. deputy finally located him at Elwood, near here, today and took the truck. Receivers of the bank said the note was given by Pyle without security three years ago. The truck, twelve tons, has been the home of Pyle his since leaving the Pacific coast, March 4. with the trai scontinental runners. cost and is equipped with shower baths, electrical refrig ration and every. thing found in the m dern home The bank's said they had writ of attachment against Harold ("Red") Grange, er University of Illinois footbal star of Pyle's aides, for $21,502 to note they said he gave the bank without security.

7. May 3, 1928 The Springfield News-Leader Springfield, MO
Article from The Springfield News-Leader, May 3, 1928

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Article Text

Pyle's 'Homeon Wheels' Is Seized By Authorities To Satisfy Bank Debts "Cash" Pyle, promoter of the transcontinental bunion derby. lost his palatial "home on wheels" today. After deputy sheriffs had fol. lowed him several days serve writ of attachment in favor of the defunct Illinois Trust and Savings bank of Champ. to satisfy $21,500 note, which the bank's receivers said Pyle owes them. deputy found at Elwood, near here, today took truck. Receivers of the bank said the note by Pyle without security three years ago. The truck, weighing 12 tons, has been the home of Pyle and his followers since leaving the Pacific coast, Makh with the transcontinental runners. It cost $25,000 and is equipped with kitchenette, shower baths, electrical refrigeration and everything found in the modern home. The bank's receivers said they had writ attachment also against Harold "Red" Grange, former University of Illinois football star Pyle's aldes, for $21,502 to satisfy note they said gave the bank without security.

8. May 3, 1928 Henryetta Daily Free-Lance Henryetta, OK
Article from Henryetta Daily Free-Lance, May 3, 1928

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MARATHON HOME IS TAKEN May Pyle, didn't about in $25,000 yacht" watch his transcontinental racers plod their way to fame and fortune weary today. Instead, he road in open The luxuries that has been his since the start the erosscountry derby Angeles, March ended abruptly Joliet yesterday when deputy sheriff seized the equipped radio, shower bath, electrical refrigeration and every modern Peter Gavuzzi Eng., minutes end lead the derby by finishing sixteenth place jaunt from Lincoln to Normal yesterday, but still retains the field runners of and minutes. Andrew Payne Claremore, holds the for the 2,265.3 far. May promoter the continental bunion After deputy sheriffs had followed him for days attachment favor the defunct Illinois Trust and Savings bank Champaign satisfy note, deputy finally located him wood, near here. and took the truck yesterday the bank said the given by without The truck weighing 12 tons, been the home of and his since leaving Pacific coast, March with the transcontinental cost and equipwith berths, kitchennette, show baths, electrical refrigeration and everything found in the modern home. The bank's receivers said they of attachment also against Harold Grange, former University Illinois football star and aides, for they said gave without security.

9. May 3, 1928 The Richmond News Leader Richmond, VA
Article from The Richmond News Leader, May 3, 1928

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Article Text

Marathon Promoter Loses Truck 'Home' May Associated "Cash" promoter the transcontinental bunion derby, lost his palatial on wheels" After deputy had followed him for several days to serve writ of in of the defunct Illinois Trust and Savings Bank of Champaign to satisfy $21,500 note, which the bank's receivers said Pyle owes finally located him at near today and took the truck. Receivers of the bank said note was given by Pyle security three years The weighing 12 has been the home Pyle and his lowers since leaving the Pacific coast, March 4. with the runners. cost $25,000 and equipped with berths, kitchenette. shower baths, electrical refrigeration and everything found in the modern home. The bank's receivers said they had writ of attachment also against Harold "Red" Grange, former University of Illinois football star, and one of Pyle's for $21,502 satisfy note they said he gave the bank without security.

10. May 3, 1928 The Enid Morning News Enid, OK
Article from The Enid Morning News, May 3, 1928

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Article Text

PALACE ON WHEELS OF RACE PROMOTER SEIZED BY OFFICERS May Charles promoter of lost his palatial on After deputy sheriffs had followed him to of attachment in the defunct Illinois Trust and Savings bank Champaign satisfy note, which the bank's said deputy finally located him Elwood. near here, today and took the truck. Receivers of the bank said the given by without security, three The truck weighing tons, has been the home and his followers since the Pacific March with the transcontinental runners. cost $25.and equipped with kitchenette. shower baths. electrirefrigeration and everything found in the modern home.

11. February 19, 1930 The Daily Illini Urbana, IL
Article from The Daily Illini, February 19, 1930

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M'COMB STAND HOURS RELATING CONDITION OF BANK Receiver Quizzed on Affairs of Defunct Illinois Trust when Closed, Activities Since Closing Answering questions put him concerning the receivership of the Illinois Trust and Savings bank of Champaign. George McComb spoke for about seven hours from the witness chair of the circuit court yesterday. During this time he was quizzed by Carson, attorney for Edwin Filson and Harry McNevin, former officers of the defunct bank trial accused of accepting deposits after they knew that the bank insolvent. McComb continued to relate the story which he started three days ago concerning the state of affairs of the bank which he found when he appointed receiver in 1928, and his disposition of bank property since that time. The fense has been seeking to prove that there were number of assets which were not carried as assets on the bank's books Introduce Additional Notes Attorney spent most of the day in exposing number of coupon notes on city property and few notes on property which the ceiver did not testify to when questioned Senator William Acton, special prosecutor for the state Transactions of McComb the three Lillie Johnston farms were again rehashed during the ernoon to find out how yaluable the farms now to the bank. The witness testified that mortgage of due on March 1934, is held by the Aetna Life Insurance party on the 240 acré tract of the Johnston property, which was sold by me. On the acre farm there first mortgage of $16,000 which due on November 1933 The mortgage on the 99 acre tract under mortage of $9,900 which will due November 1933. Received $10,000 Fees During the morning session torney Carson questioned the upon the salary which he has been paid since he assumed control bank. McComb stated that he had received $10,000 for his during the past two years. Filson and McNevin have spent $17,500 attorney fees since they were first involved in litigation in April, 1928, was pointed cut. Five witnesses for the state appeared before the court and in brief statements that they owed unpaid notes to the bank at the time the bank closed and were still unable to pay them. Admit Indebtedness Wakely, Champaign, stated that he was in debt to the bank for $670. but that he held property the present time which could be sold to satisfy the note. M Mitchell declared that he was now in bankruptcy and therefore unable pay the $2,194 which he borrowed. Cummings admitted an unpaid note of $200 and John Waite also stated that he had never repaid $250 loan. E. H. Frison, Champaign, declared that he did not know whether had ever paid any money on $550 note which he made, because he had several notes against him the bank closed its doors on December 29. 1927, and he didn't remember which he had paid. Today's session will open at o'clock this morning with continuation of the cross-examination McComb by Attorney Carson and his associates.

12. March 23, 1930 The Daily Illini Urbana, IL
Article from The Daily Illini, March 23, 1930

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COUNTY'S DEPOSITS NOT ON PREFERRED LIST, JUDGE RULES Must Take Share of RemainAssets along with Common Depositors; Filson, McNevin Backed county officials lost suits against the Urbana Banking company yesterday when Judge Baldwin ruled that public moneys could not legally preferred before that of common depositors bank's remaining assets are divided up. Judge Baldwin also balked an effort. made by Edwin Filson and Harry McNevin, imprisoned officials the Illinois Trust and Savings bank of Champaign to leave the county jail under the paupers' act. County Clerk Hess, Circuit Clerk Blaine, and State's Attorney Cline have attempted to get the Decatur jurist to allow them retrieve the public moneys which were in the bank when failed last October The small depositors have bitterly opposed this action. "The preference suggested would not be equitable,' ruled the court, and the suits were dismissed. The suit of the Urbana school board was not dealt with so readily, however, and the case was continued until April The board, represented by Col. N. A. Riley, is asking for preference on the $100,000 it had invested in the bank Sen. William Acton, special prosecutor of. the Illinois Trust and Savngs bank case, applied to the court "or writ execution against MeNevin and Filson. The duo have fines of $41,000 each standing against them. and they wished to force Sheriff Shoaf to try to collect hese amounts. If the sheriff finds that they have no money or property, he must release them as paupers. Judge Baldwin's action prevented the sheriff from trying collect the fines, so the two ex-bankers will remain in the local jail for another three months at least.