4182. Whiteside County State Bank (Fulton, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 31, 1930
Location
Fulton, Illinois (41.867, -90.160)

Metadata

Model
gpt-5-mini
Short Digest
acb74b8df617ef59

Response Measures

None

Description

Articles report the Whiteside County State Bank of Fulton closed its doors on January 31, 1930 and was placed in receivership (receiver John C. Kadyk appointed in early March 1930). No article describes a depositor run prior to the suspension; closure and appointment of a receiver were state actions following an examination. Later articles (1933) discuss receiver fees. OCR errors corrected where obvious (e.g., Carlstrom/Carlstrom).

Events (3)
1. January 31, 1930 Suspension
Cause
Government Action
Cause Details
State bank examiners completed work and the institution was closed; state authorities (state auditor/examiners) took action leading to suspension.
Newspaper Excerpt
the doors of which were closed on January 31.
Source
newspapers
2. March 7, 1930 Receivership
Newspaper Excerpt
John C. Kadyk of Fulton was appointed receiver for the bank by Auditor Nelson. and is now in charge of the. assets of the bank.
Source
newspapers
3. June 1, 1933 Other
Newspaper Excerpt
Fulton. Whiteside County State Bank. Receiver. John C. Kadyk. total fees and salary to date $6,616.48. Attorney for receiver, A. M. Blodgett, Fulton, total attorney's fees to date. $6,747.65.
Source
newspapers

Newspaper Articles (4)
1. March 7, 1930 Sterling Daily Gazette Sterling, IL
Article from Sterling Daily Gazette, March 7, 1930

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Article Text

WILL DISCLOSE NO INFORMATION ON FULTON BANK Receiver Named For Closed Institution-Condition Is Not Divulged Chief Bank Examiner Nicholson of the office of Oscar Nelson. auditor of the state of Illinois. will not divulge the detailed list of liabilities and assets of the Whiteside County State Bank of Fulton, the doors of which were closed on January 31. Although the state bank examiners concluded their work at the Fulton bank more than week ago and submitted their report to State Auditor Nelson. their findings will not be announced A week ago The Gazette asked the two examiners who went over the books for statement. They stated that their report had been made to the office of the state auditor, and all information concerning the affairs of the institution could be obtained at Springfield. At that time The Gazette was told from Springfield there was nothing to report. Thursday John C. Kadyk of Fulton was appointed receiver for the bank by Auditor Nelson. and is now in charge of the. assets of the bank. Chief Bank Examiner Ray Drennan was in Fulton Thursday. turning all of the affairs over to Receiver Kadyk to untangle. Attorney General Caristrom has assigned David Kadyk. assistant attorney general. to represent the state in the receivership. Friday morning Receiver Kadyk was asked to make a statement relative to the findings of the bank examiners. Mr. Kadyk said he had no statement to make: that information concerning the assets and liabilities of the institution would have to be obtained from the state auditor's office. Springfield Chief Examiner Nicholson stated that no information would be given out.

2. March 8, 1930 The Dispatch Moline, IL
Article from The Dispatch, March 8, 1930

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Article Text

MORRISON MAN NAMED FULTON BANK RECEIVER Prophetstown, March 8. John Kadyk of Morrison recently was appointed receiver for the defunct Whiteside County State Bank at Fulton. The appointment was made by Attorney General Oscar Carlstrom.

3. June 1, 1933 The Thomson Review Thomson, IL
Article from The Thomson Review, June 1, 1933

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Article Text

Sand Burs Fos. have been Interesting figures week which light this brought to of liquidthat the procedure show to the is quite costly bank ating community; and also quite producwho have an opportive to those tunity of partaking of the same. The figures given below are taken from Saturday's issue of the Rockford Daily Journal, and give in our territory instances of banks been in receivers have where charge. State Bank. Receiver, Hanover John C. McKenzie, total fees and $750.00. Attorney to date salary Tear, Galena, receiver, Harry for fees not yet amount of attorney's decided. Leaf River State Bank Receiver, Geo. B. Banning, total fees and Attorsalary to date, D. D. Madden, for receiver, ney Rockford, amount of attorney's fees not decided. yet Lyndon First State Bank. Receiver, Glenn Craddock, total fees and salary to date $1,450.00. AtJohn A Riorfor receiver, torney dan, Morrison, total attorney's fees date, $800.00. to State Milledgeville. Shumway Bank. Receiver, W. R. Clough, total fees and salary to date, $2,554.73. Attorney for receiver, Chas. E. Stuart, Mt. Carroll, amount of attorney's fees not yet decided. Elizabeth Exchange Bank. Receiver, L. C. Lundgren, total fees and to date, $1,446.00. Attorney salary for receiver, Louis A. Nack, Galena, total attorney's fees to date $646.25. (Louis A. Nack member of the District Democratic Executive Committee, supporting Mr. Shaw's campaign). Forreston. Comm. State Bank. Receiver, H. H. Baldwin, total fees and salary to date, $350.00. Attorney for receiver. Seyster Fearer, Oregon, amount of afterney's fees not yet decided. Franklin Grove. Citizens State Bank. Receiver, U. Weyant, total fees and salary to date $3.316.07. Attorney for receiver, Geo. Dixon, Dixon, partial attorney's fees to date, $500.00. Fulton. Whiteside County State Bank. Receiver. John C. Kadyk. total fees and salary to date $6.616.48. Attorney for receiver, A. M. Blodgett, Fulton, total attorney's fees to date. $6,747.65. Morrison State Bank. Receiver, W. total fees and Chas. salary to date. $2,300.00. Attorney for receiver, W. D. Little. Morrison. total attorney's fees to date, Orangeville. State Bank of Orangeville. Receiver. Wilbur P. Cooper, total fees and salary to date. $2,672.60. Attorney for receiver. Louis H. Burreli, Freeport. amount of attorney's fees not yet decided. Polo State Bank. Receiver, W. T. total fees and salary to Schell, datefi $1,820.00. Attorney for receiver. Harry Typer. Polo. total attorney's fees to date. $732.00. Prophetstown. Citizens State Bank of Prophetstown. Receiver. Paul total fees and D. Carlson. to date, $2,100.00. for receiver. John Stager. Sterling. total attorney's fees to date. $1,180.00. Stockton. Peoples State Bank of Stockton. Receiver. Jas. C. Fesler. total fees and salary to date. for receiver. Attorney Democratic ComLouis A. Nack, of Galena,

4. October 19, 1933 The Dispatch Moline, IL
Article from The Dispatch, October 19, 1933

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Article Text

Five Whiteside County Men Get Letters from State Official. Prophetstown, Oct. all closed banks in Whiteside county, with exception of Ruckman of First Trust and Savings bank Sterling. asked resign in sent to them this week Ray Drennan, auditor charge of working from the of the state auditor of public accounts. The receivers Paul Carlson, Citizens' State bank Prophetstown. Albert Brown, Tampico State bank. Glenn Craddock, Lyndon State bank. McCall. Morrison State bank. John Kadyk, Whiteside CounState bank at Fulton. The letter received Mr. Carlwhich derstood to similar to those sent the other men, that the object of the request to consolidate receiverships the county der man. that Carlresignation become effective October tomorrow. Belief that Mr. Ruckman of Sterling will be appointed receiver for all banks strengthener the fact that he not asked to preparation rooms, and public system large crowds, when all can not be seated.