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BANK FAILS OPEN DOORS The Bank of Golden failed to open its doors for business was the state auditor's office. The bank had deposits $231,980 capitalized for $40,000. Its officers are Joseph Thomas, president, and Theodore cashier The closing the National at Quincy. Saturday, was said responsible the closing the Golden institution. Quincy bank closed by to pay dollar The bank had deposits of $4,000,000. SUGAR NEW gar refined
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Named Bank Receiver McRoberts of Fargo. has been Quincy National and Trust pany. which closed Saturday since been in charge federal examiner McRoberts arrived today take charge the bank's
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Close Doors of Quincy Bank, Three Branches QUINCY. III.. Nov. State Loan Trust bank three deposits $6,000,000 failed for busiBroadway State South Side Savings, State Savings the Payson, III., Savings banks. Payson about miles south of here. that about half estimated these Quincy's National bank closed ago toState Savings, Loan have out in farm loans.
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QUINCY (ILL.) BANKS FIGHTING DISASTER Three City and Two Outside Institutions Closed and Remaining Houses Weathering Heavy Runs Quincy, Ill., Nov. 15-(AP)-Three Quincy banks were in the hands of bank tonight, two affiliated institutions in small towns of Illinois and Missouri were closed and the remaining banking institutions of this city, after weathering heavy run of withdrawals, remained open for the usual evening business and announced they would do business as usual next week. The community was in a highly nervous state, evidenced by long lines of customers waiting at windows to withdraw funds. A group of leading citizens. however, gave in a signed statement appearing in the Herald Whig and that the remaining banks would continue to serve the public. Farm Value Shrinkage Blamed Depositors were urged to make eustomary and essential withdrawals without Gardner, president of the State Savings Loan and Trust pany. blamed the situation on the shrinkage of farm land values. The overnight closing of his bank. oldest in this part of the state, brought the situation to crisis and was by the closing of branch bank here and one in III., 15 miles away. On Thursday state bank in Green City, Mo., correspondent the failed QuincyRicker national banks, closed its doors. The succession of shutdowns started a week ago, when the QuincyRicker National bank, only national bank in the city, failed.
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Three Banks Close At Quincy, III., Others Weather Run Three Quincy banks were in the hands of bank examiners tonight, two affiliated institutions in small towns of Illinois and Missouri were closed and the remaining banking institutions of this city, after weathering a heavy run of withdrawals, remained open for the usual Saturday evening business and announced they would do business next week. A group of leading citizens here gave assurance in statement appearing in the afternoon Herald Whig and Journal that the remaining banks would continue to serve the public. J. W. Gardner, president the State Savings, Loan & Trust company, blamed the situation on the shrinkage of farm land values. The overnight closing of his bank, oldest in this part the state, was followed by the closing of branch bank here and one in Payson, Ill., 15 miles away On Nov. 3 state bank in Green City, Mo., correspondent of the failed Quincy-Ricker National bank, closed. The succession of shutdowns started week ago when the Quincy-Ricker institution only national bank in the city, failed. The State Savings, Loan, & Trust company had $6,216,000 deposits when its last statement was issued, and $1,000,000 capital. The South Side State Savings bank and the Payson State Savings bank at Payson, branches, closed during the morning A run was started on the Broadway State Savings bank, another branch, but it weathered the onslaught and by noon conditions here were normal.
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THREE ILLINOIS BANKS CLOSED Quincy Institution With $6,216,000 in Deposits and Branches Fail. QUINCY, Nov. Three Quincy banks in the hands of bank examiners tonight, two affiliated in small towns of Illinois and Miswere closed and the remaining banking institution of this city, after heavy run the day, remained open usual Saturday night and said they would do busiweek. The was in highly state, by long lines of customers waiting winto withdraw funds. group leading citizens, gave the banks would to serve the public. Depositors urged deposits and sential withdrawals without hysteria. Gardner president of State Trust the situation the of farm land values. overnight of his bank, oldest this part the state, brought the crisis and by the closbranch bank and one Payson. III., miles away. On Nov. 13 state bank in Green City, Mo. correspondent of the failed National Bank, closed. succession shutdowns started week ago when the National Bank, national bank in the failed. The State Savings, Loan and Trust Company had $6,216,000 deposits when Its last statement issued, and $1,000,000 capital. The South Side State Savings Bank the Payson State Savings Bank Payson, branches, closed during the morning.
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Three Quincy Banks Closed After Run Following Failure Institutions Keep Weathering All By Associated Press. QUINCY, November Three Quincy banks were in the hands of bank examiners tonight, two affiliated institutions in small towns of Illinois and closed, and remaining banking institutions this city, after weathering heavy run of withdrawals, for the usuSaturday evening business and announced they would do business usual next The community in highly nervous state, evidenced by long lines customers waiting at windows to withdraw funds. group of leading citizens, however, gave signed pearing the afternoon HeraldWhig and Journal that the remaining banks would continue to serve public. Depositors were urged make their customary deposits essenwithdrawals without hysteria. W. Gardner, president of the State Savings Loan and Trust Company. blamed the situation on the shrinkage farm land values. Follows Failure. The closing his bank, oldest this part the state, brought the situation to crisis and was followed the closing of two branch banks here and in Payson, III., fifteen miles away. On Novembert state bank in Green City, Mo., correspondent of the QuincyRicker National closed its doors. The of started ago when the Quincy-Ricker institution, national bank in the city, The Loan and Trust Company had $6,216,000 deposits when last statement issued, and $1,000,000 capital. The South Side State Savings Bank and the Payson State Bank Payson, branches, closed during the morning. Run on Other Banks. run started the BroadSavings Bank, another branch but weathered the onslaught by there were normal. Throughout the day, however, long lines of depositors filed into the Mercantile Trust and Savings Bank and the Illinois State Bank, and the State Street Bank Trust in the southern part the city, to funds. latter largest bank the community. Assurances that there was danger their the nervous paid little attention. To avert further sapping their cash the banks agreed remain closed tonight. merchants this afterfor several hours and disnoon cussed methods relieving the tensity. banks shipments money from Chicago and Louis, and said they pected storm enforethe notice clause lating withdrawal of posits. Mr. Gardner's bank founded and pioneers who the original their His the closing the bank closing was decided upon only way the assets the bank. The steady both savings the closing the quick assets, Continued
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THREE BANKS IN TOWN CLOSED Community In Highlv Nervous State as Other Banks Of City Suffer Runs Nov Three Quincy banks were in the hands of bank examiners tonight, two affiliated institutions in small towns of Illinois and Missouri were OIL NOTES closed and the remaining banking institutions of this city after weathering a heavy run of withdrawals remained open for the homa's daily average crude oil usual Saturday evening business production in the week ended at and announced they would do busiis estimated by ness as usual next week. Tulsa World at 505,700 The community was in a highly rels, an increase of 13.500 barrels nervous state. evidenced by long over the preceding week's output The gain was attributed to in- lines of customers waiting at win creased production in the Okla dows to withdraw funds. A group homa City and greater Seminole of leading citizens. however gave assurance in signed statement apKansas' daily average output for pearing in the afternoon Herald the week is placed at 111,400 bar- Whig and Journal that the remainreis, a decline of 5,600 barrels. ing banks would continue to serve the public Empire Oil & Refining Co.'s Depositors were urged to make No. Alexander showing as new their customary deposits and essenproducer in the Asher Wanette tial withdrawals without hysteria. pool, southern Pottawatomie counJ. W. Gardner president of the ty, swabbed 123 barrels of oil on State Savings Loan and Trust Co., the last test The well in NW SW blamed the situation on the shrink SE 23-6-3, topped sand at 3,430 age of farm land values and The overnight closing of his bank. was bottomed at 441 feet. oldest in this part of the state Praitie Oil and Gas No brought the situation to a crisis and was followed by the closing of Tomlin in NE NW NW 23-6-3 branch bank here and one in Pay. Asher Wanette pool was being son. III. 15 miles away On Novem tubed for pumping The well top ped the sand at 3,558 feet. drilled ber 13. state bank in Green City 8:570 feet and plugged back to Mo. correspondent of the failed 3,566 feet getting 1.000 feet of National bank The succession of shut water in the hole The water was week when the off by ceiling downs started ago Quincy Ricker institution the only National bank in the city failed
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CLOSE AFTER Houses in Hands of aminers as Nervous Throngs withdraw Deposits QUINCY, Nov. Three Quincy banks were in the hands bank examiners tonight, two affiliated institutions in small towns of Illinois and Missouri were closed, and the remaining banking institutions this city shut their doors without the usual Saturday evening business after heavy run of withdrawals throughout the day. Community Nervous The community was in highly nervous state, evidenced by long lines of customers waiting at windows to withdraw funds. group of leading citizens gave assurance in signed statement appearing the afternoon Herald Whig and Journal that the remaining banks would continue serve the public. Depositors were urged to make their customary deposits and essential withdrawals without hysteria. W. Gardner, president of the State Savings Loan and Trust company, blames the situation the shrinkage of farm land values. Oldest Bank in Section The overnight closing of his bank, oldest in this part of the state, was followed by the closing of branch banks and in Payson, away, and state bank in Green City, Mo. The succession of shutdowns started in the failure of the National bank, only national bank in the city. The State Savings Loan and Trust had $6,216,000 deposits company when last statement was issued, and $1,000,000 capital. The South Side State bank and the Payson State Savings bank at Payson, closed during the morning.
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More Banks Closed At Quincy, Illinois Quincy banks were in the hands of bank examiners Saturday night, two small towns of Illinois and were closed and the institutions of this after weathering heavy run withdrawals remained open for the usual Saturday evening business they would do business next group of leading citizens here gave in signed statement in the afternoon Herald, Whig and Journal that the remaining banks would continue to serve the public Gardner president of the State Savings Loan Trust Comblamed the situation on the shrinkage of farm land values The overnight closing his bank. oldest in part the state was followed by the closing of branch bank and one in Payson, III., fifteen miles away On November state bank in Green Mo., a correspondent the QuincyRicker National Bank, closed. The started week ago when the Quincy. Ricker institution. only national bank in the city, failed French Bank Suspends Nov. Denfer Bank, olds est in this city suspended payment Saturday, but exceed liabilities. the court will permit judicial liquidation ORLEANS COTTON The the ruling prices in the Tone. steady Open. High. Low Sale. Close. Dec 05 10 92 10 98 11 May July Oct. 05 05 ans already heavily interested in State are seeking the block of stock now held by the InterSouthern Life Insurance Company of Louisville, the largest stockholder result of this accomplished, will be complete elimination Caldwell Co., Rogers Caldwell its president, company several those here interested The Missouri State Life Insurance Company had 500,000 shares of common scattered among 4,200 owners. About 65,000 shares are owned in St. Louis. and the company has as number of Louis in financial circles in St TRUSTEE IS RELIED UPON TO MAKE GOOD SECURITIES KNOXVILLE Tenn. Nov. 15.-(P) County Judge O. Houston said Saturday County relying the Fourth First National Bank of Nashville as curities $735.000 which County had on deposit in the Bank of now Judge explained that the and First National as trustee for passed on all the county's deposits in the Bank Tennessee Judge Houston said questionable value and we are depending on the trustee to them of County Court has been for by Judge Houston take such steps as the may necessary to protect the county's interests Judge Houston said sold Knox County bridge bonds and Company, September 1929. with the that they take the funds and hold without interest until by County Caldwell and Company said, placed Knox bonds with the Fourth and First National Bank security for the money which was deposited to the credit of the county in the Bank of Tennessee The Bank of the county judge explained, was given the right to substitute securities. these to be passed on by tee the Fourth and First National as trus On September 20, 1929. the Bank Houston County bonds, Judge "Our Cast report September 18, 1930 showed substitutions of stocks of questionable and we on the Fourth and National as trustee make them
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BANK CLOSED FOLLOWING FAILURE OF RICKER President Of State Savings Loan & Trust Company of Quincy Charges Failure His Bank To Shrinkage of Farm Values The Bank of Green City, for some time the only operating bank of the town, which closed early last week, still in the hands of the State Finance Department. F. A. Guiles charge and the bank will remain in the hands of the State Finance partment until satisfactory arrangements are perfected for its reopening. The capital stock of the bank was $20,000. Myers was cashier and E. Pfeiffer president. The closing of the Quincy Ricker National Bank of Quincy, III., is assigned as a reason for the closing of the Bank of Green City, the Quincy Ricker being correspondent of the Green City bank. The State Savings Loan and Trust Company of Quincy closed last Saturday and smaller banks in Missouri and Illinois suffered because of their business relations with the banks that had suspended active business. Quincy, III., Nov. Quincy banks were in the hands of bank examiners tonight; two affiliated institutions in small towns of Illinois and Missouri were closed. and the remaining banking institutions of this city, after weathering a heavy run of withdrawals, remained open for the usual Saturday evening business and announced they would do business as usual next week. J. W. Gardner, president of the State Savings Loan and Trust Company, blamed the situation on the shrinkage of farm land values. The overnight closing of his bank, oldest in this part of the state, brought the situation to crisis and was followed by the closing of two branch banks here and in Payson, III., 15 miles away. On Nov. 13, a state bank in Green City, Mo., correspondent of the National Bank, closed its doors. The succession of shutdowns started week ago when the institution, only national bank in the city, closed. The State Savings Loan and Trust Company had $6,216,000 deposits when its last statement was issued, and capital. The South Side State Savings Bank and the Payson State Savings Bank at Payson, branches, closed during the morning. Mr. Gardner's bank was founded by C. H. and Lorenzo Bull, pioneers who gave the original institution their name. His statement on the closing of the bank and its branches said: "The closing was decided upon as the only way to save the assets of the bank. The steady withdrawals by both savings and commercial depositors since the closing of the Quincy Ricker made heavy inroads on the bank's quick assets, and there was every indication that the condition would continue. The principal cause of the bank's difficulties is the situation in regard to farm loans. The business was established and developed through the business of farm loans since the days of the L. & H. Bull Bank. The very condition that made the bank is now the cause of its trouble. Farm values have shrunk from 40 to 60 per cent. The bank has these loans assets. but not liquid. It too early too talk of the bank's future. believe there are sufficient assets so that the depositors will not lose."