4258. Kane State & Savings Bank (Kane, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
August 1, 1930*
Location
Kane, Illinois (39.190, -90.354)

Metadata

Model
gpt-5-mini
Short Digest
b3fb7c6cb80d4a11

Response Measures

None

Description

Articles indicate the Kane State & Savings Bank had closed (suspended) in August 1930 and was in liquidation under a receiver (Mrs. Gertrude Richards). No article describes a depositor run; the bank remained closed and the receiver issued dividends in 1931 and 1932. Cause of the suspension is not specified in the provided text.

Events (3)
1. August 1, 1930* Suspension
Cause Details
Article only reports the bank 'closed a year ago this August' (i.e., Aug 1930); no cause for the suspension is given.
Newspaper Excerpt
Mrs. Gertrude Richards, receiver for the Kane State & Savings Bank and for its stockholders, Tuesday issued the second 10 per cent dividend paid by her since the bank closed a year ago this August.
Source
newspapers
2. December 18, 1931 Receivership
Newspaper Excerpt
KANE. Dec. 18. - (Special) Mrs. Gertrude Richards, receiver for the Kane State & Savings Bank and for its stockholders, Tuesday issued the second 10 per cent dividend paid by her since the bank closed a year ago this August.
Source
newspapers
3. July 1, 1932 Receivership
Newspaper Excerpt
KANE. July 1, (Special)-A five percent dividend... was declared Wednesday ... by Mrs. Gertrude Richards, receiver of the defunct Kane State & Savings Bank... Checks totalling nearly $3800 were mailed depositors of the bank this week.
Source
newspapers

Newspaper Articles (2)
1. December 18, 1931 Alton Evening Telegraph Alton, IL
Article from Alton Evening Telegraph, December 18, 1931

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Article Text

Kane Bank Receiver Issues 2nd Dividend KANE. Dec. 18. - (Special) Mrs. Gertrude Richards, receiver for the Kane State & Savings Bank and for its stockholders, Tuesday issued the second 10 per cent dividend paid by her since the bank closed a year ago this August. It is reported that COCOR is succeeding beer as the national drink of Germany. Consumption of beer is 38 percent below the figure for 1913, while COCOB is up 70 percent over the same figure. Read Telegraph Want Ads Daily.

2. July 1, 1932 Alton Evening Telegraph Alton, IL
Article from Alton Evening Telegraph, July 1, 1932

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Article Text

5 PercentDividend Declared by Kane Bank's Receiver Funds Obtained From Liquidation of Concern's Assets KANE. July 1, (Special)-A five percent dividend. probably the next to last. was declared Wednesday Ford by Mrs. Gertrude Richards, receiver of the defunct Kane State & Savings Bank, and for its stockholders. Checks totalling nearly $3800 were mailed depositors of the bank this week. The five percent dividend the Year third declared since Mrs. Richards was appointed receiver, makes the total recovered by depositors reach 25 percent. The previous dividends were for 10 percent. Mrs. Richards said today that the funds for paying the latest dividend were obtained from liquidation of the assets bank. Am Am Itself, and principally from the sale of real estate. Am Among the bank's assets still remaining for disposal is the building Am itself. The next dividend. which Am Mrs. Richards said probably would Am be the last, will be made from the sale of the building and from furAm ther judgments suits brought Am against the stockholders. The smaller dividend was deAm clared this time following receipt of Am instructions from the state to make distribution whenever five percent dividend was possible, Mrs. Richards said.