4843. Farmers State Bank (Flanagan, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 1, 1930*
Location
Flanagan, Illinois (40.878, -88.861)

Metadata

Model
gpt-5-mini
Short Digest
a55334f3

Response Measures

None

Description

Articles (April 1930) report the Farmers State Bank at Flanagan closed its doors at the order of its board of directors for readjustment and that Paul Hahn was appointed and checked in as receiver. No run is described; the bank was closed and placed in receivership.

Events (2)
1. April 1, 1930* Suspension
Cause
Voluntary Liquidation
Cause Details
Board of directors ordered the bank closed for readjustment after reserves were found misstated and estimated losses (~$20,000) were reported.
Newspaper Excerpt
the Farmer's State bank at Flanagan which recently closed its doors at the order of its board of directors
Source
newspapers
2. April 6, 1930 Receivership
Newspaper Excerpt
Paul Hahn, formerly cashier of the Farmer's State bank at Flanagan which recently closed its doors at the order of its board of directors, Saturday checked in receiver for that bank by Mr. Drennan.
Source
newspapers

Newspaper Articles (3)
1. April 6, 1930 The Pantagraph Bloomington, IL
Article from The Pantagraph, April 6, 1930

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Article Text

Mr. Greenebaum has already fur nished his bond which has proved by the state auditor's fice and will at once begin the task of untangling the affairs of the Cornell bank. Mr. Drennan said that Friday he checked in Weston Essington of Streator, as receiver for the Peo ple's Trust and Savings bank. of that city. The Streator bank closed its doors several weeks ago. Paul Hahn, formerly cashier of the Farmer's State bank at Flanagan which recently closed its doors at the order of its board of directors, Saturday checked in ceiver for that bank by Mr. Drennan. meeting of the depositors bank officials of the Flanagan held several ago Mr unanimously agreed upon as receiver of the bank The res olution adopted the meeting rec. ommending Mr. Hahn as receiver communicated the state auditor's office and Saturday Mr. Drennan completed the formalities turning over Mr. Hahn the task of liquidating the affairs of bank

2. April 11, 1930 The Fairbury Blade Fairbury, IL
Article from The Fairbury Blade, April 11, 1930

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Article Text

PONTIAC BANKER NAMED CORNELL BANK RECEIVER J. C. Greenebaum, well known banker of Pontiac, being member of the Illinois State Savings bank of that city, which institution is receiver for the Claudon bank of this city, has been named by State Auditor of Public/ Accounts Oscar Nelson, as receiven for the Farmers State Savings bank of Cornell. This bank closed its doors recenly by order of the board of directors, they stating that the action was done for the purpose of readjustment. Mr. Drennen, a representative of the state auditors office, was in Pontiac last Saturday afternoon for the purpose of checking Mr. Greenebaum in as receiver. Mr. Drennen stated that the appointment of Mr. Greenebaum came as an individual and that the Illinois State Savings bank, of which Mr. Greenebaum is vice presi- dent and cashier. is in no manner connected with the receivership. Mr. Greenebaum has already furnished his bond, which as been approved by the state auditor's office. and will at once begin the task of untangling the affairs of the Cornell bank. Mr. Drennen stated that last Friday he checked in J. Weston Essington, of Streator, as receiver for the People's Trust & Savings bank of that city. The Streator bank closed its doors several weeks ago. Paul Hahn, formerly cashier of the Farmers State bank of Flanagan, which recently closed its doors at the order of its board of directors, was checked in last Saturday as receiver for that bank by R. Drennen, representative of State Auditor Oscar Nelson. At meeting of the depositors and bank officials of the Flanagan bank held several weeks ago Mr. Hahn was

3. April 27, 1930 The Pantagraph Bloomington, IL
Article from The Pantagraph, April 27, 1930

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Article Text

BANDIT PAIR ROBS HOTEL $188 Taken From Proprietor and Guest at Minonk. (Special The Pantagraph.) MINONK, April armed bandits obtained $188 in holdup the Hotel Woodford here early Sunday morning. doltaken from Oliver Littlejohn the proprietor, $150 from Woods of Chicago, guest the hotel. Neither of the two men wore masks. They away and were followed short way by Mr. Littlejohn who later gave up the chase Both middle-aged men. Both Mr Littlejohn and Mr. Woods had diamond rings and valuable watches but they were not taken. Petition Filed gan Bank Receiver (Special The Pantagraph.) Sought. LINCOLN. April for letters administration in the tate of the late Mrs. Ada Matlock filed in the county court (Special to The Pantagraph.) Friday listing property valued PONTIAC, April bill was $11,800. filed in the circuit court Friday which the confirmation Paul Hahn as for the Farmer's State bank Flanagan asked. The bill further states that the reserves were and erroneous and do correctly reflect the true value; that there was an timated loss that there were classed as desperate amounting to $20,000: that on Feb. an effort was made consolidate the Farmer's State bank with the Flanagan State bank but failed. Possess Bank Now. The bill says directors of the bank then decided close the institution and that Paul Hahn was pointed receiver under bond of 000 and now in possession of the bank and its affairs The court was asked to approve the appointment Mr. Hahn as receiver and that he be directed to deliver to the owners of the lock boxes their contents; sell and dispose all property and real estate of the bank. Stockholders Listed. The stockholders of the bank listed the bill and who are made parties the action given follows: Bamber, R. Locker. C. D. Saxton. Minnie Abels, Teda Aden, Albrecht, Cannon. Fred B. Capen, A Carstens, H. Cohn. M Gerig. Peter Gerig. Ralph Goodile, Greenewald Paul Hahn. John Hansen. Frank Heibult, Horrie, Ingrey. H Jensen, Koopman, Fred Krutzner. W Linneman. Leah Litchfield, Viola LitchW. Lee Mounds, Annie Norman, Henry O'Brien, Parker, Dell Rich. Richardson, Lorenz Schneider Joe Schultheis, Amos Stuckey, EH Stuckey, Henry Stucky, Della Thompson, W. Twist. W. E. Van Doren, John Vissering, Jennie Wadsworth. Ben Fred Workley, Noah Yordy, Walter Zehr and Joel Zimmerman.