4842. Fisher State Bank (Fisher, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 15, 1930
Location
Fisher, Illinois (40.315, -88.350)

Metadata

Model
gpt-5-mini
Short Digest
4239b349

Response Measures

None

Description

State auditor ordered the Fisher State Bank closed April 15, 1930 due to impaired cash reserve/frozen assets. Rumors of a run were mentioned but explicitly discounted by the cashier; no confirmed depositor run caused the closing. A receiver was appointed in July 1930 and efforts to reopen were abandoned, indicating permanent closure.

Events (4)
1. April 15, 1930 Suspension
Cause
Government Action
Cause Details
Closed by State Auditor Oscar Nelson due to seriously impaired cash reserve and high amount of frozen assets; order not fully explained publicly.
Newspaper Excerpt
Oscar Nelson, state auditor, ordered the closing of the institution... the cash reserve had been impaired quite seriously, and that the amount of frozen assets was high.
Source
newspapers
2. April 16, 1930 Other
Newspaper Excerpt
Rumors that there had been run on the bank for the past month more were discounted by Cashier Vennum, who stated that the reports probably from seasonal withdrawals for taxes.
Source
newspapers
3. July 22, 1930 Receivership
Newspaper Excerpt
Appointment of the receiver was made by the state banking department... Appointment of August C. Meyers, Champaign attorney, receiver for the closed Fisher State bank announced 1930, the largest of any month so here Tuesday following abandonment of efforts to reopen the in-
Source
newspapers
4. July 30, 1930 Receivership
Newspaper Excerpt
August Meyer, of Champaign, III, has been appointed receiver for the defunct Fisher State bank and began his work here Monday morning.
Source
newspapers

Newspaper Articles (7)
1. April 16, 1930 Chicago Tribune Chicago, IL
Article from Chicago Tribune, April 16, 1930

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Article Text

SURVIVING BANKS GET WILLIAMSON COUNTY SUPPORT Few Deposits Withdrawn Despite Failures. Confidence in Williamson county banking where seven banks were closed within week's time was virtually restored today with practically no of deposits in any of the six remaining It was not for the First National bank of Marion to use received by armored truck from St. Louis. The bank paid out $90,000 but Monday, gained in deposits today. Edward B. Clark, representative of the Franklin American Trust company of St. Louis, after an investigation of the Marion Trust and Savings bank as counts stated today. am sure that this bank will not only be able to pay its depositors tull, but believe it can be re-organized and re-opened for with in week after the state bank exam iners their work.' Owing to the closing of many banks at one time the bank examiners will not be able to complete their work as rapidly as usual. Two of the banks remaining open are state banks, The Johnston City State bank and the citizen's state at Creal Springs. The other four are the City National at Herrin and the Forest Nationals at Marion, Herrin and Carterville. Cashier Misuses $143,000. Edwardsville, Ill., April George W. Meyer, president of the Bank of Edwardsville, announced today that the cashier, Frank B Sanders had misappropriated $143,000 of bank funds, using the money to finance several motion pic. ture theaters and other private business ventures. Myers said no charges would be made against Sanders has reimbursed the bank for part of the loss, Meyer said, and the directors have raised a fund to make up the balance, under Sanders' promise to raise the money to pay back in full. He has been discharged as cashier. The announcement was made. according to Meyer, to restore public confidence during slight run on the bank this morning. Fisher Bank Closes. Fisher, Ill., April State bank examiners today took possession of the Fisher State bank and

2. April 16, 1930 Chicago Tribune Chicago, IL
Article from Chicago Tribune, April 16, 1930

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Article Text

HUSBAND IS GRANTED DECREE IN COUNTY'S OLDEST DIVORCE SUIT Le Roy Boylan, 1122 East 64th street, yesterday was granted a divorce from his wife, Mrs. Anna Boylan, by Superior Judge Sabath. The decree closed Cook county's oldest divorce case. an official of the telephone company and former captain of the signal corps of the A. E. F. brought his in 1921 on charge of desertion. His wife replied with a cross bill for separate maintenance. The judge gave his ruling after hearing last He dered Attorney B. Davis, of the law firm of & Davis, to draw up decree. Mrs. Boylan nounced that she will appeal. At the hearing Mrs. first testified that her husband left her without a reason and later admitted that she had angered him by accusing him of relations with other women. Mrs. Martha Hess, daughter of the Boylans, testified against her father. Under she admitted that she had threatened to kill her father if he did not drop the suit or pay her $25,000. She fainted after she made the statement on the wit. ness stand. a notice posted on the door signed by Oscar Nelson, state auditor, explainIng that it had been closed by his order for and adjustment. Nothing has been given out regard ing the exact condition of the Institution, whose deposits are approximately $100,000 but It is believed that the depositors will suffer no loss. S. E. Albin of Bellflower is president and E. V. Vennum of Champaigm cashier of the bank. Fisher is now without a bank, the First State bank having failed about years The Fisher State bank was held up last November by William S. Ragan of Chicago. Ragan is serving a sentenge in the Chester penitentiary. FOUND DEAD Bazel

3. April 16, 1930 St. Louis Globe-Democrat St. Louis, MO
Article from St. Louis Globe-Democrat, April 16, 1930

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Article Text

BANK AT FISHER. ILL CLOSED A SECOND TIME By Associated CHAMP April the second time in of the Fisher State Bank failed open today State Auditor Nelson ordered that retired farmand of the closed for only months and that no positors will lose money. The bank was in twe-month period of and adjustthen reopened.

4. April 16, 1930 The Daily Illini Urbana, IL
Article from The Daily Illini, April 16, 1930

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Article Text

HODGES TO PROBE CLOSING OF BANK Fisher Institution Head Hopes for Quick Reopening; Cashier Pessimistic Investigation into the closing of the Fisher State bank will be begun this morning by Glen Hodges, state examiner, who arrived in town few hours after the bank failed to open its doors yesterday morning. Oscar Nelson, state auditor, ordered the closing of the institution, but refused to give his reasons, beyond stating that the cash reserve had been impaired quite seriously, and that the amount of frozen assets was high. Rudolph Muhleman, retired farmer bank president, declared that "not single depositor will lose cent, and that the bank will be opened within two months." The cashier, E. M. Vennum, was more pessimistic about re-opening in such short time. The bank was closed April 1927, for period of two months by order of the state auditor, but since that time has functioned without break. The institution established in 1882 by Frank Vennum. Rumors that there had been run on the bank for the past month more were discounted by Cashier Vennum, who stated that the reports probably from seasonal withdrawals for taxes. Vennum president the Dewey State bank, which Mr. Nelson declared

5. July 22, 1930 The Pantagraph Bloomington, IL
Article from The Pantagraph, July 22, 1930

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Article Text

3 Wills Distribute Estates of $33,800 Property valued at $33,800 distributed under the wills Ransom H. Roadman, Charles Ayers, Normal, and Thomas E. Gulick, ton, probated Monday by Judge E. The listed under the Ayers will is valued $25,000. hold effects. Mr. Ayers leaves the residue of the to his daughters, Minnie Huffman and Pearl Rapp, and son, Logan Ayers, in equal shares. In the Gulick estate, property at $6,200 is bequea to the wife, Lucy She was appointed by Judge Hoffman as executrix bond. Under the Roadman will, property worth $2,000 is bequeathed in trust to James M. and Ezra Smith, Downs, for the use of the testator's daughter, Mildred Roadman. amount to be paid over her when she the age of 21 In the of her death, the property to go to her If she should die without issue, the will provides the property is to be divided equally between the nieces and nephews, Emma C. Razor, Leroy; Edgar Herr, Andover, Ohio: Elizabeth McCurdy, Pittsburgh, Penn., and Charles C. Herr, Letonia, Ohio. The stitution which was closed April 15, 1930. Appointment of the re ceiver was made by the state banking department. It understood here that an attempt is being by the state to the bank after its affairs have been adjusted. The situation brought to head following withdrawal Saturday of plan advanced by H. Capen, banker, and Mr Rankin of Sibley to provide half the capital for reorganiReceiver Named for zation citizens Fisher would raise the other half. Reason for withdrawal of the plan was not Fisher State Bank given out. McJilton of Fisher, (Special Pantagraph.) director of the bank, has been FISHER, July Appointment especially active in seeking to have it reopened. of August C. Meyers, Champaign attorney, receiver for the closed Production of cigarets in May Fisher State bank announced 1930, the largest of any month so here Tuesday following abandon- far during the year, ment of efforts to reopen the in-

6. July 30, 1930 The Saybrook Gazette and Arrowsmith News Saybrook, IL
Article from The Saybrook Gazette and Arrowsmith News, July 30, 1930

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Article Text

Appoint Meyer Bank Receiver Fisher Reporter: -August Meyer, of Champaign,III, has been appointed receiver for the defunct Fisher State bank and began his work here Monday morning. Petitions had been circulated asking the appointment of J. F. Rankin to the position. Mr. Meyer is a Champaign attorney and has had banking experience in southern Illinois being connected for some time with the Brookport bank. Although it is of little moment, now that the bank is in the hands of a receiver, little interest was shown in the organization of a new bank at the meeting held Wednesday evening, July 16, in the high school gymnasium. Faced with the absolute certainty that a receiver would be appointed to settle the affairs of the defunct Fisher State Bank with an estimated loss of $75,000 and an indirect loss of much more, Fisher People still did not show any particular interest in establishing a new bank.

7. March 25, 1931 The Daily Illini Urbana, IL
Article from The Daily Illini, March 25, 1931

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Article Text

BANK RECEIVER FILES NOTES OF JUDGMENT Two confessions of judgment were filed in the circuit clerk's office yesterday by August Meyer, receiver of the Fisher state bank. One was filed against Andrew J. Asher on a 30 day note for $75 that was dated April 29, 1929. The judgment was for $117.48.