4878. Pope County State Bank (Golconda, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 16, 1930
Location
Golconda, Illinois (37.367, -88.486)

Metadata

Model
gpt-5-mini
Short Digest
7d1f45aa

Response Measures

None

Description

The Pope County State Bank at Golconda was closed/suspended for examination/adjustment in mid-December 1930 (announced by state authorities). There is no clear description of a depositor run on this specific bank in the articles. A receiver (E. B. Jackson) was appointed in January 1931 and the bank remained defunct, indicating permanent closure/receivership rather than reopening.

Events (2)
1. December 16, 1930 Suspension
Cause Details
Announcement only states bank was closed for examination and adjustment; no specific cause (no explicit insolvency reason or run given in articles).
Newspaper Excerpt
Closing the Pope County State bank Golconda for examination and adjustment announced today.
Source
newspapers
2. January 1, 1931* Receivership
Newspaper Excerpt
The bank closed its doors last December, and E. B. Jackson, of Marion, Ill., was appointed receiver in January.
Source
newspapers

Newspaper Articles (6)
1. December 16, 1930 Green Bay Press-Gazette Green Bay, WI
Article from Green Bay Press-Gazette, December 16, 1930

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Article Text

Concluded From Page One 8 Carolina Banks Fail to Open Today the State Bank of Niobrara, at NioNebr. today was here by the department of trade The bank directors voluntarily suspended and turned the institution over to state bank examiner. No reason for action was given. bank had deposits of approximately $275,000. FAILS TO OPEN of the Pope county state bank Golconda for examination and adjustment was announced today. capitalized at $50,000. The first of year the bank had deposits $314,216.41. Loans totaled $244,286.79. PARIS, ILL., FAILURE PARIS, Na. tional at Paris, III., failed its There was run on the bank last Friday. H. Pennell, did not issue statement The bank had capital stock of $50,000. PRESIDENT IS MISSING affairs Andrew president of the state bank of Binghamton, missing since the doors of the institution were closed yesterday, was the object of Inquiry today from sources. The state banking department searching the amount shortage reported to about was one the inFederal officers became interested that Horvatt was the supreme organization and the officers of that organization, the Greek Catholic union, arrived to check their accounts. The exact shortage, state bank examiners might not be determined until early next week. Depositors were largely laborers.

2. December 16, 1930 Omaha World-Herald Omaha, NE
Article from Omaha World-Herald, December 16, 1930

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Article Text

Two Illinois Banks Close. Springfield, III., Dec. 16 Closing the Pope County State bank Golconda for examination adjustment announced and of this the The first year bank day. had total deposits of $314,216.41 The First National bank at Kan sas, III., also failed to open its There run on doors today. The bank the bank last Friday. stock of 50 thousand had capital dollars.

3. December 17, 1930 Chicago Tribune Chicago, IL
Article from Chicago Tribune, December 17, 1930

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11 MORE BANKS CLOSE DOORS IN NORTH CAROLINA Two More Shutdowns in Rural Illinois. Charlotte, C., Dec. in Eleven banks in North Carolina closed their doors today. Four banks in Gaston four the Asheville area of western North Carolina, one in one in and one in Bertie shut doors county First National bank of The was the largest of the with of $3,066,072 on Sept. 24. The Peoples bank of in with capital of $5,000 and resources of $111,338, shut its doors. The Clayton Banking company of capitalized $75,000 and with resources of did not The Bank of Aulander capital of $80,125 and of also did not resources open. Three Small Banks Close. The other three banks, the Gaston Loan and Trust of the Bank of Dallas, and the Peoples bank of West Gastonia comparatively small totaled Closing of the Bank of Franklin, Macon left that town in out financial The a were listed at The deposits Citizens' bank, which merged with the Franklin last month, had deposits of Bank of Swannanoa, with of and the Bank of posits with deposits of failed to after withstanding runs The Bank of Henderson closed in the of heavy remaining open an hour and half. Its deposits were listed at $103,500. Two in South Carolina. S. Bank of York county, closed its doors Lee president the First National bank of Gastonia, failed to this is open president of the Clover tion. The bank had resources of about Golconda Bank Closes. of the Pope County State bank at Golconda for examination and adjustment announced today by State Auditor The bank capitalized at The first of this the had total deposits of $314,216.41. Loans totaled $244,286.79. Another Illinois Bank. a heavy run last week the First National bank of Kansas, this morning failed to open its doors for business. The bank was capitalized at $50,000. Kentucky Bank Reopens. Ky., Dec. (AP) The Farmers bank, which closed here Nov. 26 because of heavy withdrawals, opened today with approval of the state banking department. Depositors have agreed to a deferred payment plan to conserve assets but Christmas savings will be distributed immediate ly. The bank has deposits of W. Virginia Bank Closes. Charleston, W. Va., Dec. The state department of banking today the closing of the Bank of Hillsboro, in Pocahontas county. The bank on Sept. 24 had capital stock of $25,000. Its resources were $205,748.72 and its deposits totaled $127,746. And Another. Fairmount, W. Va., Dec. The Union National Bank of Fairmount closed its doors today. Inability liquidate assets rapidly enough to meet demands for withdrawals was given as the cause for the closing. One in Nebraska. Lincoln, Neb., Dec. closing of the State Bank of Niobrara, at Niobrara, Neb., today was nounced here by the state department of trade and commerce. The bank had deposits of approximately $275,000. One in Salt Lake. Salt Lake City, Utah, The Columbia Trust company of this city was placed in the hands of the state today. Frank said: bank is not insolvent, having 20 per cent reserve at the close of business and it is the opinion of the board that every depositor will be paid Total deposits Total assets are $1,175,590.98." SAVED FROM DEATH BY James from at kidnaped by about shoot when other

4. December 17, 1930 Omaha World-Herald Omaha, NE
Article from Omaha World-Herald, December 17, 1930

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KRESEL'S INQUIRY BRINGS IN BAUMES LAW Its Existence Adds a New Feature to Exploiters of Criminals. TRIGGERS AND TIPS BY LEMUEL F. PARTON. New York. Dec. 16 (C. P. is indicated that one of the by products of the Kresel-Seabury in quiry into the New York magistrates' courts will be a re-examina tion of the Baumes laws and a side investigation the theory and working of habitual criminal statutes in general. Two years ago, when the New York police were carrying on their campaign for a raise in pay, one of their main contentions was that under the Baumes laws, automatically sentencing a fourth offender to life imprisonment, police work was much hazardous than it had ever been before. The "threetime loser, said the police, was always inclined to shoot his way out, rather than face the certainty of life term They cited lists of policemen killed by desperate men ho, under the old conditions, would have "taken the rap.' Buying Way Through. Isidor Kresel. special counsel for the appellate division inquiry, exploring the underground maze of police and judicial corruption. now turns up another count against the Baumes laws, about which, naturally enough, the police have nothing say. that the hard-pressed third offender not only has a loose trigger finger. but that he has found it possible to buy his way Evidences of police corruption uncovered by Mr. Kesel and his aides disclosures which threatening the most disastrous police upheaval of many years-light up the fact that the criminal forces are more heavily financed and more efficiently organized than ever before. According to Mr Kresel's preliminary figures. the ha bitual criminal laws have vastly enhanced the value of the commodity which the middlemen have to sell. Cautious Attitude of Reformers. This inquiry has disclosed reform in America in a new garb. An of ficial of the Women's City club, active and powerful in city affairs was asked whether the club would lead a movement against the ex ploitation of women as revealed in the disclosures already made "The trouble with such agita tion." she replied, "has always been that the uplifters have had 100 much emotion and too few facts. We have observers at this investigation and we are gathering all the facts we can on our own account If we act later. it will be on the basis of facts and not suppositions It is our conclusion that all social movements in America have suffered from the lack of complete and accurate information We believe Mr. Kresel is perform ing a great public service in this inquiry, have plans for vigorous action but if we call mass meetings or we go to the legislature to work for reform of procedure in the magistrates courts, we are going to know exactly what we are talking about." Two Illinois Banks Close. Closing Pope County State bank Golconda for examination and adjustment was announced to. day The first of this year the bank had total deposits of $314.216.41 The First National bank at Kansas, III., also failed 10 open its doors today There was run on the bank last Friday. The bank had capital stock of 50 thousand dollars.

5. July 29, 1931 The Paducah Sun Paducah, KY
Article from The Paducah Sun, July 29, 1931

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Depositors Would Run State Bank GOLCONDA, ILL., July 29 (SpeDepositors of the defunct Pope County State bank, about 150 in number, rebelling at the cost of the existing receivership, have named a committee and employed an attorney with purpose. in view to place the administration of the bank's affairs in the hands of committee composed of depositors. Details of the plan in mind are yet to be worked out and will be done through the advice and direction of the attorney. The bank closed its doors last December, and E. B. Jackson, of Marion, Ill., was appointed receiver in January. CO-OP TO OPERATE BROWNFIELD, ILL., July 29 (Special) The first co-operative fruit marketing organization ever established in Pope county will begin active operations about August 10th using Homberg, the station on the I. C. midway between Brownfield and Golconda as the central packing and shipping point The association is affiliated with the Illinois Fruit Growers Exchange with offices at Centralia, which will act as their sales agency. city life as millions of newspaper readers know it today, and as others live it, Paul Lucas is seen as a secret agent in the employ of law and order authorities. Others include Kay Francis and Helen Johnson.

6. August 6, 1931 Clinton Daily Journal and Public Clinton, IL
Article from Clinton Daily Journal and Public, August 6, 1931

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MAY REORGANIZE BANK Golconda, III., Aug. committee of depositors of the Pope County State bank today agreed on a plan to be submitted to the general meeting next Saturday, asking authority from the auditor of public ac(counts to take over assets and reorganize the bank. A receiver has been in charge of the bank since last December.