Peoples Bank - Atlanta, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: *
Location: Atlanta, Illinois (40.259, -89.233)

Metadata

Model: gpt-5-mini
Short Digest: 0952a286

Response Measures

None

Description

Article (July 20, 1950) states Peoples Bank of Atlanta, Illinois has gone out of business after 62 years and records a balanced healthy condition—closure appears voluntary, blamed on excessive taxes, government restriction and government competition. No run is described.

Events (1)

1. * Suspension

Cause: Voluntary Liquidation
Cause Details: Bank closed citing excessive taxes, government restriction and government competition despite judge calling its condition healthy.
Newspaper Excerpt: In Atlanta, Illinois, a little community of 1300 in the central part of that state, the Peoples Bank ... has gone out of business after 62 years due to excessive taxes, government restriction and government competition.
Source: newspapers

Newspaper Articles (1)

1. July 20, 1950 Siebenbürgisch-Amerikanisches Volksblatt Cleveland, Detroit, OH

Article from Siebenbürgisch-Amerikanisches Volksblatt, July 20, 1950

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Article Text

ZEIDNER let me tell you that Bishop eutsch, Bishop Dr. Glondys. FLOWER FUND pfarrer Dr.Schullerus,StadtPICNIC Dr. Wolff of Schaessburg own father-in-law Heinrich ALLIANCE, O. July 16th. This and That from Washington By Congressman Frances P. Bolton children have been returned to HIS week has been a quiet one their homes-thirty-eight hundred on Capitol Hill. The Senate, as of the 38,000! know, is far behind schedule. A number of There was a ceremony in Athbills passed by ens which was attended by Queen the House some Frederika and Crown Prince Contime ago are stantine, and others of the royal not even in the family. Monsignor Spyridon, the committee stage Archbishop of Athens and Primate in the Senate. of Greece, led the assembled chilOne of the most dren in a very moving prayer for the speedy return of the other abimportant of ducted children. these is the Appropriations Bill - another, ROM the Austrian Consulate the E.C.A. anGeneral in New York comes propriation. The the word that the United States House CommitForces in Austria notified the Mrs. Bolton tee on Foreign Austrian Government on June 1st ffairs will be taking up the Senthat the exchange of displaced perMilitary Aid bill, having waitsons in Austria for persons of until final action by the Senate German ethnic origin (Volksthe hope of making better deutsche) now living in Germany in the end. had been approved by USFA. OY Scouts by the thousands inEST we lose sight of the real vaded Washington during L significence of free enterprise Jamboree Week at Valley of the American system that we orge. It was truly thrilling to see have created, let us look at some everywhere you turned. They real news developments in the bushot and tired, but alert to the iness world, stories that speak for new experiences and keen to themselves: now something about their govIn Atlanta. Illinois, a little comrnment. munity of 1300 in the central part Two eager youngsters turned up of that state, the Peoples Bank my office a little after 7 p.m., has gone out of business after 62 as I was clearing my desk for years due to "excessive taxes, govnight. One lad was Ronald ernment restriction and governadlock-you of Burton will know ment competition." His family has moved to Side The Circuit Judge at Atlanta, ake, Minnesota. Wasn't it fun Frank S. Bevan, who is also Preshe couldn't resist the pull of ident of the bank, said it held only 22nd District? With him was a "hat-full" of farm mortgage Minnesota lad named Ralph H. loans because of the competition ohnson. They were certainly a of government lending agencies. pair of Scouts! The bank statement shows $1,636,646 in assets and liabilities, a balTHERE is available a new 16 anced statement. and, according to millimeter film in full color the Judge, "a healthy condition." gives a sober account of "PuRico, U. S. A." In order that EWS from across the world people of this country might N continues to be serious in the ave a clearer understanding of extreme, and the outlook for the problems and what is being to meet them the Insular Govfuture demands the utmost in rnment has made this objective steadiness and courage. It would ecord. It can be borrowed from be foolish to minimize the risk we Office of Puerto Rico, 1026 run in this effort to uphold the eventeenth Street, N.W., Washprinciples of the United Nations, gton, D. C., and Arthur D. Little but the anxious citizen can assure ompany, Cambridge, Massachuhimself with certainty that, whatever may be the price of picking up the challenge the Communists OU will be glad to know that have thrown down, it is smaller, by 3,800 of the kidnapped Greek far, than that of not doing so.