4846. First National Bank (Foosland, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
11299
Charter Number
11299
Start Date
January 20, 1932
Location
Foosland, Illinois (40.361, -88.428)

Metadata

Model
gpt-5-mini
Short Digest
c9523e56

Response Measures

None

Receivership Details

Depositor recovery rate
98.4%
Date receivership started
1932-02-19
Date receivership terminated
1937-09-10
Share of assets assessed as good
28.2%
Share of assets assessed as doubtful
70.6%
Share of assets assessed as worthless
1.3%

Description

Articles report the First National Bank of Foosland suspended business Jan. 20, 1932, a receiver (H. O. Feldman/Feldmann) was appointed and issued statements and later dividend payments. No article describes a depositor run or reopening; the bank remained in receivership and paid dividends to creditors, consistent with permanent closure under a receiver.

Events (6)

1. February 7, 1919 Chartered
Source
historical_nic
2. January 20, 1932 Suspension
Cause
Government Action
Cause Details
Bank suspended business on Jan. 20 and placed in receivership (official suspension/closure action).
Newspaper Excerpt
receiver the First National bank of Foosland since suspension business Jan. 20
Source
newspapers
3. February 19, 1932 Receivership
Source
historical_nic
4. March 19, 1932 Receivership
Newspaper Excerpt
H. O. Feldman Downers receiver the First National bank of Foosland since suspension business Jan. 20, has made statement of condition...,Feldman, receiver of the First National bank of Foosland since its suspension of business Jan. 20, has made statement of the condition of the institution: Assets... Liabilities...,Feldmann Pays at (1932-10-06) and dividend statements in 1934 indicate continuing receivership)','cause':null,
Source
newspapers
5. October 6, 1932 Other
Newspaper Excerpt
Feldmann...has announced 35 per cent dividend payment...to depositors of the First National Bank of Foosland (payment to be made at LeRoy)','cause':null},{
Source
newspapers
6. July 26, 1934 Other
Newspaper Excerpt
16 Per Cent Dividend to Be Paid Depositors of Foosland Bank...Receiver Feldmann has issued the following statement...third dividend, representing 16 per cent of the depositors proven claims, has been declared and checks were distributed...','cause':null}]}{
Source
newspapers

Newspaper Articles (4)

Article from The Pantagraph, March 19, 1932

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Article Text

Foosland Bank Receiver Makes First Statement Pantagraph Central Illinois Service. Feldman Downers receiver the First National bank of Foosland since suspension business Jan. 20, has made statement condition the Assets, bills receivable, $64,110.90; cash on other total 196.77 Liabilities, secured pledges. $5,000; total $121,462.43


Article from Gibson City Courier, March 24, 1932

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Article Text

Foosland Happenings MR. AND MRS. DOWNS GIVEN SURPRISE number of relatives gathered at home of Mr. and Mrs. P. W. the Sunday and surprised them, Downs occasion being in honor of Mr. the birthday. Baskets of food Downs' brought by the visitors and an elaborate were dinner was served. Those present were Mr. and Mrs. Goodrich and daughters, Clarence Jane and Eleanor, Mr. and Dorothy Charles Summers and son John Mrs. daughter Helen, Mr. and Mrs. and Summers and family and Warner Bailey, mother of Mrs. Warner Mrs. Gibson City, Summers, Mr. and Mrs. Bruce Summers and daughters Margaret and Virginand also of the Gibson City vicinity, Mrs. M. Griggs, who makes her and home at the Downs home. HOME BUREAU MEETING HELD THURSDAY AFTERNOON The Brown Township Home Bumet Thursday afternoon, with Mrs. reau T. M. Pittman. Mrs. Virginia Conn White, adviser, gave the lesson, "Digestion of Foods," and sang solos. two The next meeting of the unit will held at the home of Mrs. Stanley DeLong with Mrs. Frank Sublon assisting, and will be in the evening, entertaining the husbands of the members. Those present Thursday were: Mrs. Lillian Ball, Mrs. Stanley Hinton, Mrs. Stanley DeLong, Mrs. Hans Matson, Mrs. T. Pittman, Mrs. Virginia White, Mrs. Maurice Ball, Mrs. Leo Bright, Mrs. Fern McKeon, Mrs. Virgil Wolf, Mrs. W. H. Lewis, Mrs. Ira Bunn, Mrs. Frank Sublon, and Mrs. Arthur Ball. BROTHERHOOD ORGANIZED AT FOOSLAND CHURCH A potluck supper was served at 6:30 o'clock in the basement of the Methodist Protestant church, Tuesday evening, with about 100 attending. After supper the pastor, the W.H. Lewis, called a meeting in the auditorium of the church for the purpose of discussadvisability of organizing The organization was effected with following officers elected: president, the Rev. W. H. Lewis; Corley M. secretary; Stanley Hinton, Insurer. The purpose of this club inpressed in the word "Brotherand its aim is to bring the of the entire community closer and socially, and unite them in weffort in the way of an uplift to community. Foosland M. P. Church. 11:00-Morning worship. A speEaster address with special Eastermusic by the choir. 7::0 m.-Y. P. S. C. E. prayer 8:00 p. m.-We will be favored with an Easter cantata by the choir. special offering will be received the evening to be used for the benevolence of the church. We are sorry for the many who this time are suffering with the flu. We are praying for their speedy recovery and looking forward to the time when we can enjoy their presence with us again. W. H. LEWIS, Pastor. School Dismissed The Prairie Cottage school was dismissed last week for a few days because of the illness of the teacher, Miss Mary Nafziger, of Hopedale, III. Others in this community who have had the influenza during the past week are: Carl Thomas, Florence Mae Pfoff and Helen Bright. With the Sick. Eugene Gardner is ill with the bronchial pneumonia. Darold Wilson, five-year old son of Mr. and Mrs. Chester Wilson, who spent the past ten days in the county hospital, Urbana, with pneumonia, was brought home Saturday. He is thought to be doing nicely. Guests From Chicago. Mr. and Mrs. William Beretish of Chicago spent the week-end visiting with her parents, Mr. and Mrs. Ira Bunn. Mrs. Bunn returned to Chicago Sunday evening with her daughter. She expects to visit for about two weeks at her daughter's home. Holding Special Meetings. Rev. W. H. Lewis, pastor of the loP. church, is conducting evangelistic meetings all this week except Saturday night, leading to Easter Sunday. Sunday evening a musical cantata will be given by the Foosland church choir at 7:30. Club Meets Friday. The Woman's club of Foosland will meet Friday afternoon at the home of Mrs. Virgil Wolf at two o'clock. Assisting hostesses are Mrs. William Bright. Adams and Mrs. E. W. FOOSLAND BANK RECEIVER MAKES FIRST STATEMENT H. O. Feldman of Downers Grove, receiver of the First National bank of Foosland since its suspension of business Jan. 20, has made statement of the condition of the institution: Assets, $64,110.90; cash on hand, $2,577.24; other assets, $89,508.63; total assets, $156,196.77. Liabilities, unsecured, $116,462; deposits secured by pledges, $5,000; total liabilities, $121,462.43. Staying With Mother. Alton DeLong IS staying at the bedside of her mother, Mrs. Wm. Kitts, of Bellflower, who is seriously ill with pneumonia. Visited With Parents. Mrs. Claude Beasley spent the week-end near Glenavon, visiting her parents, Mr. and Mrs. F. Williams.


Article from Farmer City Journal, October 6, 1932

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Article Text

Feldmann Pays at Feldmann, Receiver of the First National Bank of LeRoy, well as of the John Weedman tional Bank, this city and the First National Bank of Foosland, has announced 35 per cent dividend payment, to be made at the LeRoy bank beginning on Friday morning. The 35 per cent payment will release approximately $60,000. Feldmann made 40 per cent dividend at the local bank on August 20, that payment putting nearly $125,000 into the hands creditors of the John Weedman Bank.


Article from Gibson City Courier, July 26, 1934

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Article Text

Foosland Happenings Spent Week-End In Paxton Mrs. Bertha Glabe motored to Paxton and spent the week-end with Mr. and Mrs. Henry Glabe and daughters, Iva and Laverda. Here From Colorado Mr. and Mrs. Willard Wright of Denver, Colo., spent a portion of the week with Mr. and Mrs. W. C. Holmes and sons. Returned Home Mr. John Crawford returned to his home in Argusville, N. D., on Saturday after four weeks' visit with relatives here. Visited Mother Arthur and Marshall Underwood of Chicago spent portion of the week with their- mother, Mrs. Catherine Underwood, and family. Sunday, July 29Melvin church school, 9:30 a. m. Melvin worship, 10:00 a. m. Roberts church school. 10 a. m. Roberts worship, 7:30 p. m. Evening services discontinued during July and August at Melvin and Roberts. Fourth quarterly conference will be held in the Melvin church 3:00 p. m. August 1st, and in the Roberts church at 7:30 p. m. August 1st. To Have Operation Delavan Smith went to Chicago Tuesday where he entered the Research hospital for an operaLord's tion on his arm which was injured May 2 in- an automobile near Champaign. He was accompanied by Mrs. Thorson and his mother, Mrs. Gertie Smith. Visitors Here Saturday Mr. and Mrs. Wm. Young and Peter Johnson of Roselia, Neb., and Mr. and Mrs. Ed Kasbough of Sioux City, Iowa, spent part of Saturday with Misses Gertrude and Elizabeth Underwood and with other friends here. Here From Bloomington Dr. and Mrs. C. W. McLaughlin of Bloomington spent the week-end with Mr. and Mrs. W. E. McLaughlin and attended to interests at their farm north of town. Returned Home Keep Donald West returned to his home in Rutland Thursday after Cool, a ten day visit with his grandparents, Mr. and Mrs. Fred Mohr. DRINK At Matthews Home ICED Mrs. Chas. Arends and son Bobby of Gibson spent a portion of the week with Mr. and Mrs. COFFEE Calvin Matthews and family. one summer's most popular Visiting Here drinks. Make these famous blends. Mr. and Mrs. Art Grimes and family of Chicago came WednesMild and Mellow day to visit Mr. and Mrs. Lew Eight O'Clock Beck and family for week. Champaign Callers Mrs. Henry Netherton and daughter Joan and Mrs. M. D. BAG Thompson were Champaign callers on Thursday. Here On Sunday Mr. and Mrs. John Plank and daughter Betty of Chatsworth spent Sunday with Mrs. Margaret Thompson. At Beck Home Miss Aldene McLain of Chicago size 200-216, full of juice. is spending the week with Mr. and Mrs. Geo. Beck and family. Week-End Here Mr. and Mrs. Guy Cumerine of Decatur spent the week-end with Mr. and Mrs. W. P. Kenward. Here From Summer School Root Beer Halved Miss Thelma King returned EXTRACT PEACHES home Friday from Normal where she attended summer school. Btl. 22c Sibley Callers Mr. and Mrs. Jams Long and daughters, Viola and Marcella, were Sibley callers on Friday. In Gibson Thursday 79c Mr. and Mrs. Lyle Thompson 15c and family of Gibson were callers here Thursday. In Paxton Sunday Ann Page DEL Mr. and Mrs. W. C. Holmes MONTE and sons spent Sunday in Paxton BEANS SPINACH with friends. Here From Pesotum. Miss Blanche White of Pesotum spent the week-end with Miss Special This Week Edith Ren. Here From Thawville TOILET TISSUE Mr. and Mrs. Albert Lang of Thawville were callers here on 1000 Friday. 16 Per Cent Dividend to Be Paid Depositors of Foosland Bank The Receiver urges that all past dividend checks be called for. H. O. Feldman, receiver of the First National bank of Foosland, has issued the following statement: third dividend, representing 16 per cent of the depositors proven claims, has been declared and checks were distributed on Wednesday and Thursday of this week, and those who failed to call for checks on those days can receive them on any Wednesday thereafter. When calling for dividend checks, it will be necessary for depositors to present their Receivers Certificate: receipts for dividend checks will be mailed to out-of-town depositors upon re- This dividend of 16 per cent brings the total dividends paid out by Receiver Feldmann to 81 per cent, and he earnestly requests that everyone call for their dividend checks, adding that several uncalled for checks of previous dividends are still held at the bank for delivery. Foosland M. P. Church. Sunday school convenes at 9:45 a. m. with a class for all and a profitable session each Sunday. Howard Hopkins, Supt. At 11:00 the regular church service, closing with the Supper. In the evening at 7:00 o'clock the young people meet for their weekly prayer meeting. The public song and preaching service is held at 8:00 You are cordially invited to come to our services. During these days when we are suffering bodily discomfort from the heat let us not neglect the soul, but by taking advantage of the services of God's house keep fit in spirit to comply with the Master's demands upon us. W. H. Lewis, Pastor Miss Habbegger Entertained Miss Prudence Habbegger, of Chicago visited the last of the week at the home of Mr. and Mrs. C. B: Birky. She was entertained at dinner Sunday at the home of Mr. and Mrs. Alvin Heiser Other dinner guests were: Mr. and Mrs. Aaron Zehr, Mr. and Mrs. John S. Birky and family and Harvey Birky. Osman Endeavor Organized The Foosland Christian En. deavor society of the M. P. church helped organize a Christian Endeavor society at the Osman M. P. church Sunday night. Services at the Foosland church were dismissed for the evening to allow the congregation to attend services at Osman. Visiting Father Clarice and Charles Fairchild are visiting at San Doval with their father, Rev. Charles Fairchild. Visiting In St Louis Principal and Mrs. Lynden Banner are spending several days in St. Louis, visiting relatives. P. W. Downs Leaves $21,000. The will and codicil of the late Patrick William Downs, who died July 3, at his home in Foosland, was filed Friday with the County Clerk for probate, and immediately was admitted to probate by Judge Kastel. Charles W. Summers was appointed executor to serve without bond. The deceased left personal property valued at $1,000, and real estate valued at $20,000. He leaves personal property to his widow, Mrs. Nellie E. Downs, and gives her a life estate in his real estate. At the death of the widow, the real estate property is to be divided equally between two children, Mrs. Edith W. Goodrich and George M. Downs. The will names the widow executrix but the codicil changes that part of the will to Charles W. Summers of Ford county. The will was signed Nov. 20, 1925, in the presence of Maria B. Griggs and Chloe Rady, and the codicil Jan. 23, 1934, in the presence Astrid M. Johnson and H. C. Krudup. Mexican Girls Here Lupe and Mary Leon entertained their sisters, Elinor and Domingo, at the home of Mr. and Mrs. Chris Birky Sunday. These Mexican girls, in company with several others who spent the past two weeks in the country, will return to their homes in Chicago, Friday. Spent Sunday near Morton Rev. and Mrs. J. A. Heiser and daughter, Alta, Bessie Good, Melvin Greiser and Joe Good spent Sunday at Pleasant Hill Mennonite church near Morton where Rev. Heiser had charge of services in the afternoon and evening. At Low Point Sunday Misses Martha Birky and Lelia Cender, of this vicinity, in company with Misses Alvina and Ethel Ropp, of Gibson City, spent Sunday near Low Point with Mr. and Mrs. Roy Bauchman and other friends of that vicinity. Visiting Parents Mrs. Louise Augspurger, worker at the Mennonite home for the aged at Eureka, is spending a two months' vacation with her parents, Mr. and Mrs. Henry Horsch Sr. She is also absent from the home because of her health. At Horseh Home Mr. and Mrs. Reuben Kennel and son, Mr. and Mrs. Arthur Kennel and children and Mrs. Louise Augspurger, of Eureka, visited Sunday at the home of Mr. and Mrs. Henry Horsch. Mr. and Mrs. Matson Here Mr. and Mrs. Hans Matson, who are spending the summer in Farmer City, visited the last of the week at their home here, preparing to move back in about a month. Business Caller Mrs. Hannah Schilts was a Heinz Ketchup 2 BUS. 35c business caller in Elliott ThursAvalon Apricots 49c day. Large Size pkgs. 19c Business Visitor Harold Gedelman was business visitor in Champaign SaturMadison 10c day. Raisin Bread Loaves 15c Here On Friday Mrs. C. O. Stone of Paxton spent Friday here visiting friends. Mrs. Buesing Improving Mrs. Emil Buesing, who has BISQUICK been ill with the flu, is improving. John Johnson Better 29c PKG John Johnson, who has been quite ill, is improving. MONTE, MAXWELL HOUSE, OR In Elliott HoK Coffee LB 29c J. C. Hunt was business caller in Elliott Saturday. Here Friday A&P FOOD STORES Fred Carroll of Gibson City was a caller here on Friday.