4157. Fairbury Bank (Fairbury, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 23, 1927
Location
Fairbury, Illinois (40.747, -88.515)

Metadata

Model
gpt-5-mini
Short Digest
a6e82aa7db56420e

Response Measures

None

Description

Articles (Jun–Sep 1927) report the Fairbury Bank had been closed for several weeks and a receiver (from Pontiac) was named; later (Sept) the receiver was awarded a judgment. No article describes an antecedent depositor run. OCR errors in Article 1 (e.g., fragmented sentences) corrected when interpreting that the bank had been closed following the death of cashier Claudon and a receiver was named.

Events (3)
1. June 23, 1927 Receivership
Newspaper Excerpt
Representatives of the state ... The State bank of Pontiac today ... After ... the Assets the Fairbury bank will ... Depositors ... report to depositors in short time. Receiver named for Fairbury bank (article dateline 1927-06-23).
Source
newspapers
2. June 23, 1927 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed several weeks following the death of its cashier (Claudon); closure appears linked to internal adverse developments and subsequent state action to have receiver appointed.
Newspaper Excerpt
RESEIVER NAMED FOR ... Fairbury, June ... bank, which has been closed several weeks, following the death of Claudon, cashier
Source
newspapers
3. September 22, 1927 Receivership
Newspaper Excerpt
Receiver of Fairbury Bank Awarded Judgment of $4,557 ... Pontiac, Sept. ... Receiver of bank was awarded judgment against Schmerheim amount $4,557
Source
newspapers

Newspaper Articles (2)
1. June 23, 1927 The Paxton Record Paxton, IL
Article from The Paxton Record, June 23, 1927

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Article Text

RESEIVER NAMED FOR Fairbury, June of the persons Claudon State bank, which has been closed several weeks, following the their death of Claudon, cashier, Grain were turned the State bank of Pontiac today, reRepresentatives of the state audimade statement on condition the bank's afafter Pontine bank officials have time over the Assets the Fairbury bank will liqui- page dated stockholders and deposiwill know just where they stand and much will be paid on the This action of naming the Ponbank after and in which the could found. Depositors of the bank have been for ment have grown more and more no decision was reached. Efforts gather ready reopen were to and the was expected that the will have affairs shape report to depositors in short time.

2. September 22, 1927 The Pantagraph Bloomington, IL
Article from The Pantagraph, September 22, 1927

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Article Text

Receiver of Fairbury Bank Awarded Judgment of $4,557 Pontiac, Sept. for bank, was judgment by against Schmerheim amount$4,557 James Selotti has filed bill for divorce in the circuit court on statutory grounds. The bill asks custody son. Opening by the defense and the were afternoon the People against Harry Fairbury, violation the prohibition act, in Judge court. Witnesses presented by the state were Sheriff R. Scarratt, M. Shugart, M. Jones. Leron Kring, Russell Lange. Garber, and Defense defendant and father, H. Foster, and Loren W.