4409. Bank of New Windsor (New Windsor, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 28, 1931
Location
New Windsor, Illinois (41.202, -90.442)

Metadata

Model
gpt-5-mini
Short Digest
b1402a67d39e88cc

Response Measures

None

Description

Newspaper articles indicate the Bank of New Windsor closed (suspended) on Sept. 28, 1931 and was placed in receivership (receiver Elmer Smith). Subsequent items (Feb 1932, Jun 1933) describe receiver collections and partial dividend mailings. OCR errors in the texts (missing numbers/words) were corrected where obvious; one article implies a receiver appointment in October 1931. No article describes a depositor run preceding suspension.

Events (3)
1. September 28, 1931 Suspension
Cause
Government Action
Cause Details
Bank closed and placed in receivership (formal closure leading to appointment of a receiver).
Newspaper Excerpt
the bank closed its doors, Sept. 28, 1931.
Source
newspapers
2. October 1, 1931* Receivership
Newspaper Excerpt
Smith, receiver for the Bank of New Windsor, has collected total of since appointment in October. (article states receiver appointed in October.)
Source
newspapers
3. February 26, 1932 Other
Newspaper Excerpt
Checks amounting will mailed this week to of the Bank of Windsor ... Elmer Smith, receiver. dividend ... being paid in two checks.
Source
newspapers

Newspaper Articles (3)
1. January 12, 1932 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, January 12, 1932

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Article Text

BANK RECEIVER Herman Peterson, Former New Windsor Cashier, Assigned to Affairs of Institution. (Special to The Argus.) New Boston, III., Jan. man former cashier of the Bank of New Windsor, which closed two months ago, has been appointed receiver the New Boston bank, closed Dec. 16. Mr. Peterson appointed Oscar Nelson, state auditor, and went to New Boston today with R. Clinton Jones, state bank examiner, commence his duties. The New Boston bank and the Peoples bank New Boston merged last spring under the name the New Boston bank. At the last statement, Sept. 30, prior to New Boston bank showed total resources of $262,228,57, and total deposits of $191,257.71,

2. February 26, 1932 The Rock Island Argus Rock Island, IL
Article from The Rock Island Argus, February 26, 1932

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Article Text

TO PARTLY PAY CLAIMANTS Checks in Connection With Closing of Bank of New Windsor Be Malled Out. (Special to The Argus.) New Windsor, III., Feb. Checks amounting will mailed this week to of the Bank of Windsor, according statement issued Elmer Smith, receiver. dividend of cent awarded to the creditors, now it, this amount being paid in two checks. Five per taken from the receivership fund and per from the stockholders' assessment fund. Mr. Smith's report of Feb. 1932, shows that since he was pointed he has collected total for the fund, and has been paid to the stock assessment fund by the stockholders, making the total collections both funds to total $28,516.06 has been paid on the borrowed money which the bank closed its doors, Sept. 28, 1931. The port ance of the general fund. When the per cent dividend taken out, balance $11,000 will remain, held in reserve to preferred claims any liability account of the balance due on borrowed money.

3. June 3, 1933 The Muscatine Journal Muscatine, IA
Article from The Muscatine Journal, June 3, 1933

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Article Text

Reports Condition of Banks in Mercer County Shown. Aledo Receiver's reports four closed Mercer banks were filed Friday in Mercer county circuit court with Judge Paul Califf on the bench. All reports cover the business closed banks from the date receiver until May Smith, receiver for the Bank of New Windsor, has collected total of since appointment in October totaled leaving balance the receivers' hands $6,246.85. Heavy ditures included salary penses of receiver expense and fees and dividends totaling $25,Total reported Morgan, for the Farmers State bank Burgess. total leaving receiver's balof This bank placed the hand of the receiver Dividends taling have been paid, Receiver's saalry and have totaled and attorney's fees and expenses amounted to Dividends totaling have been paid by the State bank of which Louis Barnes receiver. His report shows total receipts of and Barnes was appointed as The for the State Bank New show receipts since Dec. 1931 totaling Dissince that time total leaving in receivers account. Dividends totaling $18,709.87 have been paid. receivers salary and expenses totals for Vote