4781. Dixon Trust & Savings Bank (Dixon, IL)

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
savings bank
Start Date
October 20, 1929
Location
Dixon, Illinois (41.839, -89.480)

Metadata

Model
gpt-5-mini
Short Digest
2f8db0d8

Response Measures

Full suspension, Books examined

Description

Multiple contemporaneous newspaper reports (early November 1929) describe a quiet run on the Dixon Trust & Savings Bank beginning about two weeks after the death of cashier William Albright and that state bank examiners (State Auditor Oscar Nelson) ordered the bank closed for examination and adjustment. Articles mention frozen assets on long-time loans and large withdrawals. No article in the provided set reports a reopening or an assigned receiver, so the final status is not reported — classified here as run → suspension with uncertain ultimate closure. Bank called a State bank in several items despite having Trust & Savings in its name; I therefore set bank_type to state.

Events (2)
1. October 20, 1929 Run
Cause
Bank Specific Adverse Info
Cause Details
Quiet run began after the death of cashier William Albright; large accounts withdrawn and frozen assets on long‑term loans reduced available cash.
Measures
None reported prior to closure; withdrawals continued until state examiners closed the bank.
Newspaper Excerpt
A quiet run on the bank has been in progress since the death of William Albright, cashier, two weeks ago; large accounts have been withdrawn.
Source
newspapers
2. November 2, 1929 Suspension
Cause
Government Action
Cause Details
State Auditor Oscar Nelson ordered the bank closed and state bank examiners took charge for examination and adjustment after the quiet run and frozen assets were reported.
Newspaper Excerpt
Doors of the Dixon Trust and Savings Bank ... were closed today for 'examination and adjustment.' Orders to close were issued Saturday night by Oscar Nelson, state auditor. State bank examiners are in charge of the audit.
Source
newspapers

Newspaper Articles (12)
1. November 3, 1929 Belvidere Daily Republican Belvidere, IL
Article from Belvidere Daily Republican, November 3, 1929

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Article Text

DIXON TRUST AND SAVINGS BANK CLOSED QUIET RUN ON DIXON BANKING INSTITUTION FOLLOWED BY CLOSING OF DOORS BY STATE BANK EXAMINERS FROZEN ASSETS ON LONG TIME LOANS BLAMED. Doors of the Dixon Trust and Savings bank. an institution under the direction of the state. were closed today for, "examination and adjustment. Orders to close were issued on Saturday night by Oscar Nelson. state auditor. State bank examiners are in charge of the audit quiet run on the bank has been in progress since the death of William Albright, cashier. two weeks ago, it was stated. Large accounts have been withdrawn. according to reports. Frozen assets on long time loans made ready cash unavailable and the officers decided to close the doors, it was announced. Close Chicago Bank The City State bank of Chicago of which Cornellus R. Miller, well known to many Belvidere people, is president, was closed by state bank examiners last Saturday. Mr. Miller was former director of public works under Gov, Len Small. The bank was closed on orders of State Auditor Oscar Nelson after examiners had announced a frozen condition of a portion of its assets. Officials of the bank declared that depositors will receive 100 cents on the dollar "The last quarterly statement of the bank as of Oct. showed resources of $4 670.519 and deposits of $3,922,530. The bank was capitalized at $400,000 and had a surplus of $200,000. It was not a member of the Chicago Clearing house asThere had been a virtual run on the bank during the recent sag of the stock market.

2. November 4, 1929 The Daily Chronicle De Kalb, IL
Article from The Daily Chronicle, November 4, 1929

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Article Text

Two Banks Are Closed By The State Lately tempt the City State Bank of 'hicago, closed Saturday by State Auditor Oscar Nelson. was un der way today. Seymour Stadman vice-president, said he believed the attempt would be successful. Prospects reopening another Illinois bank which Nelson ordered closed not 80 bright. It was the Dixon Trust & Savings bank at Dixon. had been quiet run on the bank for two weeks. Chronicle Want Ads Get Results

3. November 4, 1929 The St. Louis Star and Times St. Louis, MO
Article from The St. Louis Star and Times, November 4, 1929

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Article Text

DIXON. ILL. BANK CLOSES AFTER QUIET RUN DOORS Nov. Dixon Trust and Savings Bank. institution the the torection and adjustday for on the bank ment quiet the death been William Albright, cashier, two weeks

4. November 4, 1929 Decatur Herald Decatur, IL
Article from Decatur Herald, November 4, 1929

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Article Text

HOPE TO REORGANIZE TWO ILLINOIS BANKS CLOSED BY AUDITOR Nov attempt to reorganize the City State bank Chicago, closed Saturday by State Auditor under Monday. Seymour Stadman, vicepresident, said he believed the tempt would be successful. Prospects for reopening another Illinois bank which Nelson ordered closed Saturday were not bright was the Dixon Trust and Savings bank at Dixon There had been quiet run on the bank for two weeks KILLED IN CRASH Violet Bump of Lindenwood, was killed here Sunday when the automobile driven by her fiance, Clarence Troy of Rockford, collided with the car Clifford Clark, Chicago

5. November 4, 1929 Quad-City Times Davenport, IA
Article from Quad-City Times, November 4, 1929

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Article Text

Dixon, Ill., Bank Closed Frozen Assets Dixon, III., Nov. Dixon Trust and Savings bank, state bank, closed Saturday night orders Oscar Nelson, state audiand state bank are charge. notice on the doors reads, "Closed and adjustment. Since the William Albright, cashier, two weeks there has been quiet run bank and large amounts been Frozen on long time loans made and the decided to close.

6. November 4, 1929 The Times Streator, IL
Article from The Times, November 4, 1929

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Article Text

DIXON, BANK IS CLOSED DIXON, Nov. Dixon Trust and Savings Bank, an under the direction the institution state, today for amination and adjustment. Orders close were issued night Oscar Nelson, state urray State bank examiners are since the death of in progress the bank been quiet on the deat hof progress Albright, cashier, weeks was stated. accounts ago, have been withdrawn. according reports. Frozen assets long time loans on made ready cash the officers decided to close doors, it was announced. STAGE BATTLE severe between and Chinese troops on the Sungaari river the capture of Russians and sixty mile down hte river by the Chinese, patches from Shanghai and received here today stated. The according dispatches, were supported by planes and gunboats which played havoc with the Chinese forces.

7. November 4, 1929 Waukegan News-Sun Waukegan, IL
Article from Waukegan News-Sun, November 4, 1929

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Article Text

DIXON BANK IS CLOSED BY STATE the Dixon Trust and Savings bank, an institution under the direc tion of the state, were closed today for "examination and adjustment Orders to close issued Sat urday night by Oscar Nelson. state auditor. State bank examiners are in charge of the auditing. A quiet run on the bank has been in progress since the Heath of Will ago, It was stated. Large accounts have been withdrawn, according to reports. Frozen assets on long time loans made ready cash unavallable and the officers decided to close the doors. It was announced.

8. November 4, 1929 JG-TC: Journal Gazette and Times-Courier Mattoon, IL
Article from JG-TC: Journal Gazette and Times-Courier, November 4, 1929

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Article Text

Dixon, the Dixon Trust and Savings Bank, institution under the direction the state, closed today for ation adjustment." quiet run on the bank has been progress since the death of WilAlbright, cashier, two weeks ago, stated. GAMING DESTROYED BY SHERIFF Special The III., Nov. order the circuit court, Sheriff Moore today destroyed all paraphernalia confiscated in five recent gaming house raids. Ignovant Americans? How much does the average American know about his country's Not much, the opinion clerks the public information booth at Concord, They complain that they are bothered frequently tourists asking to directed to "the battlefield." which. course, is located Concord, Mass. Hayes, and other relatives. Mr. and Bushu were married in Springfield last week and are on their wedding trip to this city other points Mr. Mrs. Gossett and daughter, in CharlesSunday visiting Mr. and Stanton Jones. Mrs. O'Neill, Mrs. Zella Nolte and Fred O'Neill of attended the funeral Frank Daugherty this morning. Miss Regina Fleshner of near Coles has returned to Sullivan, where she teaches school, after week-end visit with Miss Gertrude Beall Mr. and Mrs. Clavis Hull, Mr. and Murphy and Miss Breeze guests on Sunday of Mr Mrs. Neoga. Horace Cook of Chicago spent the his parents, Mr. and Cook. Mrs. Cook and are already visiting in the city. Kimball of Lowder visited atives in the city Saturday while route Ashmore to be the bedside his father, Guerdon who seriously Mrs. Gover daughter Dorothy, Miss Josephine McVay, Miss Loretta Gover, Eugene Bridges, Daniel Gover and Crean visited Mrs. Sarah Logan in Toledo Sunday afternoon. Miss Rita Stevens and Miss Hazel Oliver of city, James Hoback Arcola and Leslie Bratton of Tuscola spent Sunday with Miss Oliver's uncle and aunt, Mr. and Mrs. Frank Decatur Mr. and Mrs. Charles Roberts, Mr. and Mrs. Ashworth, Mr. and Mrs Russell McLain and daughter and Mrs. Bessie Malcolm Sunday guests of Mr. and Mrs. George man in Gays. Louis Moran, who attends St. Louis University. and Miss Cecelia Moran, who is in training at St. John's hosLouis, were over Sunday visitors at the home their Mrs. Frances Moran.

9. November 4, 1929 The Daily Courier Taylorville, IL
Article from The Daily Courier, November 4, 1929

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Article Text

DIXON BANK CLOSES TODAY Dixon. III., Nov. 4.-Doors of the Dixon Trust and Savings Bank, an institution under the direction of the State, were closed today for "examination and adjustment. Orders to close were issued Saturday night by Oscar Nelson, state auditor. State bank examiners are in charge of the auditing A quiet run on the bank has been in progress since the death of William Albright, eashier, two weeks ago, it was stated. Large accounts have been withdrawn, according to reports. Frozen assets on long time loans made ready cash unavailable and the officers decided to close the loors, it was announced.

10. November 5, 1929 Effingham Daily Record Effingham, IL
Article from Effingham Daily Record, November 5, 1929

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Article Text

DIXON, ILL, BANK CLOSED Dixon, III., Nov. Dixon Trust and Savings Bank. a State bank, was closed last night on order of Oscar Nelson, State Auditor State bank examiners are in charge. The notice on the doors says: "Closed for examination and adjustment." Since the death of William Albright. cashier. two weeks ago, there has been a quiet run on the bank and large accounts have been withdrawn ni the last few days. Frozen assets on long-time loans made ready cash un-

11. November 5, 1929 Herald and Review Decatur, IL
Article from Herald and Review, November 5, 1929

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Article Text

TO REORGANIZE TWO ILLINOIS BANKS CLOSED BY AUDITOR (By United CHICAGO, Nov. attempt to reorganize the City State bank Chicago, closed Saturday by State Auditor Oscar Nelson, under way Monday. Seymour Stadman, vicepresident, said he believed the tempt would be successful. Prospects for reopening another Illinois bank which ordered closed Saturday were not bright. the Dixon Trust and Savings bank at Dixon. There had been quiet run on the bank for two weeks.

12. November 8, 1929 Belvidere Daily Republican Belvidere, IL
Article from Belvidere Daily Republican, November 8, 1929

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Article Text

QUIET RUN DIXON ING INSTITUTION BY CLOSING OF DOORS BY STATE BANK ERS FROZEN ASSETS ON LONG TIME LOANS Doors of the Dixon Trust bank, institution the direction of the state, closed today for "examination and Orders close issued Saturday night by Oscar state auditor. State bank iners are in charge of the auditquiet bank has the death William weeks was stated. Large accounts been withdrawn. cording reports. Frozen long time made ready cash unavailable and the officers decided the doors. announced. Close Chicago Bank The City State bank of Chicaof which Cornelius Miller, well known many people, president, was closed bank examiners last Mr. Miller was former rector of public works under Gov. Small. The bank closed on orders Auditor Oscar Nelson examiners had announced frozen condition portion assets. Officials of the bank declared that depositors will receive 100 on the dollar. The last statement of the bank Oct. showed of and deposits of The bank capitalized $400,000 and had surplus member day the Chicago Clearing house sociation. There had been virtual the bank during the recent stock market. Behave much indignation. What about hope good sults? concluded only thing injured little possible the runaways of other Howe's Monthly. atives this Chicago and Bounds holds government position Pierre, being registrar the land office in South Dakota. He former Belvidere boy and noted many improvements since his last