Farmers State Bank - Burgess, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: November 1, 1931*
Location: Burgess, Illinois (41.127, -90.642)

Metadata

Model: gpt-5-mini
Short Digest: 5df5e0c9

Response Measures

None

Description

Article (Dec 14, 1931) states the Farmers State Bank of Burgess 'closed last month' and that a receiver (Morgan) was appointed by State Auditor Oscar Nelson. No run is mentioned; closure led to receivership by state authority.

Events (2)

1. November 1, 1931* Suspension

Cause: Government Action
Cause Details: Bank closed the previous month and state auditor appointed a receiver, indicating closure by state action.
Newspaper Excerpt: assumed duties today as receiver for the Farmers State bank of Burgess, which closed last month.
Source: newspapers

2. December 14, 1931 Receivership

Newspaper Excerpt: Morgan of Aledo ... assumed duties today as receiver for the Farmers State bank of Burgess. Mr. Morgan's appointment made by State Auditor Oscar Nelson and his bonds have been approved.
Source: newspapers

Newspaper Articles (1)

1. December 14, 1931 The Rock Island Argus Rock Island, IL

Article from The Rock Island Argus, December 14, 1931

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Article Text

MAN NAMED AS BANK RECEIVER Morgan Appointed to Take Charge of gess Affairs. (Special to The Argus.) Aledo, III., Dec. Morgan of Aledo, former postmaster, assumed duties today receiver for the Farmers State bank of Burgess, which closed last month. Mr. Morgan's appointment made by State Auditor Oscar Nelson and his bonds have been approved.