4460. Hn Schuyler State Bank (Pana, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 1, 1930*
Location
Pana, Illinois (39.389, -89.080)

Metadata

Model
gpt-5-mini
Short Digest
da352d4724ccafcb

Response Measures

None

Description

The bank was closed by the State Auditor on Feb 6, 1930 and a receiver (A. W. Frankenfeld) was appointed; later assets (the president's home) were sold at foreclosure and there is an ongoing receivership appeal in 1933. No explicit run is described in the articles, so this is a suspension followed by permanent closure/receivership.

Events (4)
1. January 1, 1930* Receivership
Newspaper Excerpt
Receiver A. W. Frankenfeld bid In the property at $15,000... sold at foreclosure as an asset of the bank.
Source
newspapers
2. February 6, 1930 Suspension
Cause
Government Action
Cause Details
Closed by State Auditor Nelson on Feb. 6, 1930 (state regulatory action).
Newspaper Excerpt
the H. N. Schuyler State Bank. which was closed here Feb. 6, 1930. by State Auditor Nelson.
Source
newspapers
3. September 10, 1931 Other
Newspaper Excerpt
home of H. N. Schuyler ... was sold at foreclosure as an asset of the bank. Receiver A. W. Frankenfeld bid In the property at $15,000. It was erected 10 years ago at a cost of $50,000, and is probably the most beautiful residence place in central ...
Source
newspapers
4. February 23, 1933 Other
Newspaper Excerpt
The appeal ... involving the receivership of the H. N. Schuyler State bank of Pana was affirmed and reversed in part and remanded with directions.
Source
newspapers

Newspaper Articles (2)
1. September 10, 1931 JG-TC: Journal Gazette and Times-Courier Mattoon, IL
Article from JG-TC: Journal Gazette and Times-Courier, September 10, 1931

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Article Text

BANK PRESIDENT'S'HOME AUCTIONED AFTER CRASH Pana, III., Sept. 10.-An echo of the erash of the H. N. Schuyler State Bank. which was closed here Feb. 6, 1930. by State Auditor Nelson. with liabilities of more than $2.000,000, resounded yesterday afternoon, when the home of H. N. Schuyler, the 86-year-old presidentowner of the bank, was sold at foreclosure as an asset of the bank. Receiver A. W. Frankenfeld bid In the property at $15,000. It was erected '10 years ago at a cost of $50,000, and is probably the most beautiful residence place in central The north side of a room is always the honor side among Chinese and the host always sits there facing the south.

2. February 23, 1933 The Decatur Daily Review Decatur, IL
Article from The Decatur Daily Review, February 23, 1933

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Article Text

GET DECISIONS IN APPEAL CASES Decisions in two Christian county cases were handed down Thursday by the state supreme court. The appeal of Martha Mitchell Bates from the judgment of the third district appellate court which reversed the Christian county cir cuit court involving the receivership of the H. N. Schuyler State bank of Pana was affirmed and reversed in part and remanded with directions. The lower court allowed Mrs. Bates claim of $4,725 The case involving an order by the Illinois commerce commission authorizing the Assumption Mutual Telephone company to issue $20,000 in first mortgage bonds and execute mortgage was reversed and remanded to the Christian county circuit court.