231c50b9Capital injected, Full suspension, Books examined
Other: Authorities/stockholders planned capital raise and potential indictments against rumor-mongers
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THREE ILLINOIS BANKS FAIL TO OPEN DOORS Three more Williamson county banks failed to open their doors this morning, bringing the total of banks closed in this county within a month to six. The banks which failed to open for business this morning are: The Marion Trust and Savings bank; the Carterville State Savings bank and the First State bank at Pittsburgh. Within the past month three other banks have failed to open their doors at Herrin, Johnston City and Hurst.
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Indictments May Result From Carterville Failure of the officers of the One Savings Bank which ville State and month has the closed one in last week's Carterville ing article Herald: "The Carterville State Savings Bank remains closed pending some arrangement whereby may re-open of the bank are seeking The officers with the Auditor that arrangement willallow to for purpose open its accounts. If colcollecting had period of lecting can be over few months the officers of the bank feel that can be re-organized. stockholders' meeting anda depositors' meeting will be called in the near future. The officers of the bank want the cooperation the depositors and end that every person interested will the benefit. Unless ceive greatest this co-operation is had everyone terested will be effected. "The bank has been examined by the state officials and they stated that there was no reason for the withdrawal of deposits and that good bank was ruined because the people lost confidence. The loss of confidence was caused by the circulation of false rumors as to the condition of the bank. These rumors were circulated by ignorant persons and in some instances deliberately through ill will and by some who had heretofore been sued by the bank to make them their just debts. It pay violation of the law to circulate rumors that cause run on tank. The run on the Carterville State and Savings Bank was started by few men and women and complete check has been made on them. The bank, at the time these rumors were was not insolvent. In fact, closed with in eash. Through these false rumors many persons have been damaged and ficers of the bank feel that those men and women responsible should be imprisoned. To this end probable that indictments will be sought against those responsible, at the meeting of the September grand is thought that if these jury. men and women escape will only matter of time when they will damage to other financial stitutions by the spreading of false rumors.
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Preparing To Open Carterville May Stockholders of the Carterville and Savings Bank which here April 14, after $200,000 have agreed they will attempt raise in cash in take care of the third-class which the auditors marked doing this and with the city bank to take their bank can open, according plan outlined letter from Nelson State Auditor, pay positors and continue in business. The State and Savings Bank had capital of and plus an equal amount. that the banks crashed was withdrawn from stitution and the directors closed when the cash down to about had hand at that time Government bonds and had any the notes secured lateral on which to had used some of their bonds to run their cash from to more than and in the run the bank cent of its deposits. now hand about in They expect to place new in the bank. money in the vault, turn ernment bonds and realize They then will have left in securities they will borrow Stockholders have until to raise the money their stock and allow to put up the money and take the stock The will, in all plan of the largest carry, some holders have pledged their In do not wish case they the State Auditor says ing save that the stockholders case necessary assessed the amount re-organization to put sound basis the In cutting down owned by the loans trimmed erately but bore down city loans.