4151. Marine Trust Company (Carthage, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
December 1, 1930
Location
Carthage, Illinois (40.414, -91.128)

Metadata

Model
gpt-5-mini
Short Digest
d946cc51

Response Measures

None

Description

Multiple newspapers (Dec 1–2, 1930) report the Marine Trust Company of Carthage, Ill., failed to open and was listed by the State Auditor as one of three Illinois state banks suspended. The articles do not describe a depositor run specifically at Carthage; they note state examiners were sent to examine the institution. The closing is reported as a suspension/failure to open; no reopening or receivership is reported in the provided articles, so I classify as suspension leading to closure (no evidence of reopening). The regional Benton National failure is mentioned elsewhere as causing runs in nearby towns, so I list cause as local_banks (regional bank distress) with a note about uncertainty.

Events (1)
1. December 1, 1930 Suspension
Cause
Local Banks
Cause Details
Listed among three Illinois state banks that failed to open after recent regional bank failures (context cites Benton National failure and runs in nearby towns); state examiners were sent to examine books.
Newspaper Excerpt
The Marine Trust Company of Carthage, Ill., failed to open today.
Source
newspapers

Newspaper Articles (7)
1. December 1, 1930 The Daily Independent Murphysboro, IL
Article from The Daily Independent, December 1, 1930

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Article Text

Bank At Marion Fails To Open MARION, ILL., Dec. The First National Bank, with re. sources of approximately $2,000,000 failed to open today, leaving city of more than 11,000 population, without a banking institution. The board of directors blamed steady withdrawals and "frozen as. sets" for the closing. A run on the bank occurred Sat urday, following closing of the First National Bank at Benton. The First National had on deposit hundreds of accounts of persons who had withdrawn funds from other banks in Williamson county, previous to their closings. Plans had been for reopening of due of the closed Institutions, the Marion State and Savings Bank. SPRINGFIELD. ILL., Dec. state banks in sep. arate parts of the state failed to open today, it was announced by the State Auditor's office here. The banks the Johnston City State Bank. Johnston City: Rock Grove State Bank, Rock Grove: and the Marine Trust Company, Carthage. No reason for the been: received here: aminers have been sent amine and andit books of stitution.

2. December 1, 1930 The St. Louis Star and Times St. Louis, MO
Article from The St. Louis Star and Times, December 1, 1930

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Article Text

tection of depositors and creditors. A. C. Stiritz, vice president, said: Its closing leaves Johnston City without a bank, the Citizens State Bank having been closed in April. The Johnston City State Bank has resources totalling $910,329.75 with capital stock of $50,000, and a surplus of $50,000. Carthage Bank Fails to Open. PEORIA, ILL., Dec. 1.-(By I. N. S.)-The Marine Trust Company of Carthage, III., failed to open today. No reason was assigned by bank officials for the closing.

3. December 1, 1930 Des Moines Tribune Des Moines, IA
Article from Des Moines Tribune, December 1, 1930

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Article Text

THREE ARE SUSPENDED. Suspension of three Illinois banks in separate parts of the state was announced by the state auditor's office Monday. They are the Marine Trust company of Carthage

4. December 1, 1930 The Belleville News-Democrat Belleville, IL
Article from The Belleville News-Democrat, December 1, 1930

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Article Text

MARION'S ONLY BANK IS CLOSED FOLLOWING RUN Gangster Is Slain on Venice Road Fifth Victim In Bootleggers' War Is Irvin C. Lochman, Noted St. Louis Police Character. $2,000,000 Institution Closes Leaving City of 11,000 Without Bank; Frozen Assets Are Blamed. Marion, III., Dec. 1.-(UP). The First National Bank, with resources of approximately $2,000,000 failed to open today. leaving Marion, a city of more than 11,000 population without a banking institution. The board of directors blamed steady withdrawals and "frozen assets" for the closing. A run on the bank occurred Saturday. following closing of the First National Bank at Benton, Ill. The First National had on deposit hundreds of accounts of persons who had withdrawn funds from other banks in Williamson county, previous to their closings. Plans had been nearly completed for re-opening of one of the closed institutions, the Marion State and Savings bank. The Johnston City State Bank also failed to open today, leaving Williamson county with only four banks. The State Bank had deposits of $714,114. Springfield, Ill., Dec. Three state banks in separate parts of the state failed to open today, it was announced by the state auditor's office here. The banks are the Johnston City State Bank, Johnston City; Rock Grove State Bank, Rock Grove: and the Marine Trust Company, Carthage. No reason for the suspension had been received here. State bank examiners have been sent to examine and audit books of each institution. The Marine Trust Company of Carthage, Hancock County, according to its last statement on file here, has capital stock of $100,000. Deposits total approximately $250,000. Charles T. Allen is president and E. W. oashier. The Johnston City State Bank. located in Williamson County, has a capital stock of $50,000 and deposits totalling close to one million dollars. Peter Wastier is president and William Huck, cashier The Rock Grove State Bank is located in Stephenson county and has a capital stock of $30,000. Its deposits totaled $225,000. C. A. McAuley is president and L. W. Blunt, cashier. East St. Louis, Ill., Dec. 1.-(UP) the rear seat of his new car, the body of Irvin C. Lochman, 26, St. Louis police character was found today on road near Venice. His body was pierced by five bullets. Police believed that Lochman was the fifth victim in the gang war over bootleg rights on the Illinois side of the Mississippi River. They tentatively laid his death to the Shelton gang. which has warned St. Louis gangsters to keep to their own side of the river. Lochman had been shot three times in the back once in the neck and again in the left shoulder. From bloodstains on the running board of the car, police believed he had been shot elsewhere, his body thrown into the rear seat and the car driven to Venice. The slain man was reported to have had liquor interests in East St. Louis, but operated independently and not with the Cuckoo gang. arch enemies of the Sheltons. He had never been convicted on police charges although arrested 29 times in St. Louis. Two weeks ago Lester Barth and Dewey Goebel were shot to death in St. Louis. reportedly because they were believed to have double crossed their former associates, the Cuckoo gang, and participated in the slaying at Valmeyer, Ill., several months ago of two Cuckoo gangsters, who had invaded Shelton territory. BIRTHS Mr. and Mrs. Fred Hoffman, Jr., of 901 West D street, girl.

5. December 2, 1930 Joplin Globe Joplin, MO
Article from Joplin Globe, December 2, 1930

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FOUR ILLINOIS BANKS FAIL TO OPEN DOORS Springfield, Ill., Dec. 1.-(P)Four Illinois banks were closed today, two of them as an apparent outgrowth of the failure last week of the Benton National bank. The First National bank of Marion and the Johnston City State bank closed their doors today, leaving both cities without banking facilities. The Marion institution announced its action was to prevent further heavy by customers frightened by the failure of the Benton bank. The bank withstood heavy runs Friday and Saturday. Directors of the Johnston City bank said their decision to close the doors was in anticipation of run because of the situation in Benton and Marion. The other banks that failed to open today in widely separated communities were the State Bank of Rock Grove and the Marine Trust bank of Carthage. Ex-Minister Sentenced. Oklahoma City, Dec. Thoroughman, former Methodist minister and federal dry agent, was sentenced today by Judge Edgar S. Vaught to serve fifteen months in the federal penitentiary at Leavenworth on conviction of conspiracy to violate the prohibition law. He, was fined $200. Thoroughman was arrested at still near Lawton last March. He pleaded insanity but was declared rational.

6. December 2, 1930 The Des Moines Register Des Moines, IA
Article from The Des Moines Register, December 2, 1930

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8 BANKS CLOSE GRAIN MEN FIGHT AND ONE OPENS Merger Negotiations Have Part in Two Suspensions. (By The Associated Press.) Eight banks in the United States closed their doors Monday, merger negotiations given as the cause in two instances. One bank reopened after a period of susThe First National bank of Blytheville, Ark., did not open. An announcement said it had closed "pending a merger with the Farmers Bank and Trust company At Stephens, Ark., the Peoples bank suspended for five day period. Officials said the closing was for reorganization or possible consolidation with the Bank of Stephens Three State Banks Close. Closing of three state banks in Illinois was reported to State Auditor Oscar Nelson at Springfield The banks were the Johnson City State bank, the Rock Grove State bank and the Marine Trust Bank of Carthage A Marion III., dispatch said the Marion First National bank had closed. The action was taken it was reported to protect depositors against heavy withdrawals At Chatham Va., the Chatham Savings bank. one of the oldest financial institutions in Pittsylvania county failed to open for business The bank. capitalized at $100,000 was closed by order of the state banking department. One Connecticut Closing. Distribution of Christmas club checks totaling $30,000 was halted when the Central Fairfield Trust company of Norwalk, Conn., was suspended by means of restraining order issued by state bank commissioner The bank's difficulties, the commissioner indicated. were largely the result of heavy shrinkage in commercial deposits which forced liquidation of quick The New Albany American Bank and Trust company at New Albany Ind. reopened after having been closed since Nov. 20.

7. December 2, 1930 The Philadelphia Inquirer Philadelphia, PA
Article from The Philadelphia Inquirer, December 2, 1930

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Article Text

2 CITIES WITHOUT BANKS Four Illinois Financial Institutions Are Closed Four Illinois ban were day. two an apparent of the failure last week of the growth Benton National Bank The First National Bank of Marion City State Bank and the their both banking facilities. The other were the State Bank Rock Grove and the Marine Trust Bank of Carth. age. Virginia Bank CHATHAM (A. The Chatham in oldest financial failed open for sylvania business The bank was talized at $100,000. Bank Merger Planned Ark., (A BL National Bank of First Blytheville did not open today and posted the door said announcement with had closed "pending merger the Farmers Bank and Trust Company. Order Bank Suspended NORW Conn., (A. Fairfield Trust The of this was today pany city by means restraining order E State Bank Commissioner Lester Shippee. The order forbids the bank from out funds receiving paying until court hearing of The action chief examthe bank by iner of the State Banking Depart ment.