Downers Grove State Bank - Downers Grove, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 31, 1931
Location: Downers Grove, Illinois (41.809, -88.011)

Metadata

Model: gpt-5-mini
Short Digest: 153d7b86

Response Measures

None

Description

Article (Waukegan News-Sun, 1931-11-02) reports Downers Grove State Bank were closed Saturday and that receivers had been appointed. No run or depositor panic is described. Closure appears to be by appointment of a receiver (government action). The Saturday prior to Nov 2, 1931 is 1931-10-31; date for closure is inferred from article wording and publication date.

Events (2)

1. October 31, 1931 Receivership

Newspaper Excerpt: Announcement was also made that receivers had been appointed ... Downers' Grove State bank which were closed Saturday. (Waukegan News-Sun, Nov 2, 1931).
Source: newspapers

2. October 31, 1931 Suspension

Cause: Government Action
Cause Details: Bank closed and receivers appointed (official action resulting in suspension).
Newspaper Excerpt: Downers' Grove State bank which were closed Saturday. Announcement was also made that receivers had been appointed
Source: newspapers

Newspaper Articles (1)

1. November 2, 1931 Waukegan News-Sun Waukegan, IL

Article from Waukegan News-Sun, November 2, 1931

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Article Text

Dividend Payments On Standard Of New Jersey And Indiana Brighten Market. By JOHN COOLEY Press Financial Writer NEW YORK. tinued strength in the oil shares featured curb market today More favorable prices for crude oil together with regular dividend Standard and Standard of Indiana directattention to the petroleum issues Indiana Humble pushed up two points or more, closely followed by Utilities were inclined to improve, 45% but the group on the whole was rathsluggish Most the specialties dealt in higher. strong grain 67's directed speculative Deere equipment issue. which rose couple of Call money renewals began the month per NAME BANK RECEIVERS. SPRINGFIELD. Ill., Nov 2-(AP) were today charge the Citizens State Bank and Trust company Sheldon. Iroquois county. Downers' Grove State bank which were closed Saturday. Announcement was also made that receivers had been appointed and charge the following named which closed several weeks ago Peoples Trust and Savings bank and the Banking and Trust company, both Ottawa. the Utica State bank. the Serena State Bank Troy State and the East Moline Manufacturers' State bank. CLOSE NEW YORK EXCHANGES NEW YORK, Nov. tually all leading and commodity markets will closed tomorrow election day. which legal holiday in most New York stock exchange the York market the New York exchange. the New York produce exchange, closed. Banks will remain closed the important business HAY. ST. LOUIS, Nov firm. No. 13-14: No. 0.50-12.50; Clover mixed. No. No. Clover. No. No. 10-12: 12-12.50: No. alfalfa, choice, 17-18; No. 16-17. MONEY RATES NEW YORK. Nov. money steady 2½ per day. Time steady days months per cent. Prime paper bankmos. 5-6 PEORIA LIVESTOCK steady: 200-275 lbs. 150-210 packers stags slow to steady; veals down. METALS NEW YORK. quiet, electrolytic, and future Tin easy. spot and nearby 22.30; future 22.50. Iron barely steady, No. eastern Pennsylvania 14.75@ 16.00; Buffalo Alabama Lead steady, spot New York 4.00; East St. Louis 3.80; zinc steady, East Louis spot and fuAntimony 6.50; quick silver SEIZE BANK BANDIT capture Wockner Fla., custody the suspected