4055. Amboy State Bank (Amboy, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 31, 1932
Location
Amboy, Illinois (41.714, -89.329)

Metadata

Model
gpt-5-mini
Short Digest
d794ef21

Response Measures

None

Description

Articles (dated 1932-03-31) state the Amboy State Bank is 'defunct'/'closed' and that Senator Wright was appointed receiver. No mention of a depositor run; receiver appointment indicates permanent closure/receivership.

Events (2)
1. March 31, 1932 Receivership
Newspaper Excerpt
Wright recently appointed receiver for the Amboy State Bank ... He appointed for several closed banks this territory, reports being that functioning in that capacity four state banks which have been closed.
Source
newspapers
2. March 31, 1932 Suspension
Cause Details
Articles simply describe the bank as defunct/closed and a receiver appointed; no explicit cause (e.g., insolvency details or run) is given.
Newspaper Excerpt
He appointed receiver for the Amboy State Bank ... reports being that functioning in that capacity four state banks which have been closed.
Source
newspapers

Newspaper Articles (2)
1. March 31, 1932 The Daily Chronicle De Kalb, IL
Article from The Daily Chronicle, March 31, 1932

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Article Text

Wright Named In Suit Filed By Bank Debtor Senator Wright of this city has been made defendant in filed the county circuit court James Morrissey, of Amboy, in which asserted that the offices state senator bank are compatible. asking that judgment entered against him for notes held by the defunct Amboy State aside, maintains that the DeKalb senator cannot gally receiver for the bank and same time senator. Wright recently appointed ceiver for the Amboy State Bank He appointed for several closed banks this territory, reports being that functioning in that capacity four state banks which have been closed. Since being appointed receiver for the several closed Senator Wright been very active campaign manager for Custer, gubernatorial candidate on the Republican ticket. He also candidate for office of state auditor public accounts on the Custer ticket,

2. March 31, 1932 Belvidere Daily Republican Belvidere, IL
Article from Belvidere Daily Republican, March 31, 1932

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Article Text

Wright's Status as Receiver and State Senator is Disputed Dixon, III., Mar. 31-State Senato Harry G. Wright of DeKalb cannot properly serve as bank receiver, it was alleged today in a suit filed in circuit court here by James Morrissey of Amboy, Morrissey asked that a judgment entered against him by Senator Wright as receiver for an Amboy bank, be set aside. He contended that since Wright is member of the legislative branch of the state government, he ought not to act as a receiver under the judicial branch. Senator Wright, besides being a legislator and receiver for several northern Illinois banks, is candidate for state auditor and is campaign manager for Omer N. Custer, aspirant for the governship.