4924. Johnston City State Bank (Johnston City, IL)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
December 1, 1930
Location
Johnston City, Illinois (37.821, -88.928)

Metadata

Model
gpt-5-mini
Short Digest
da412422

Response Measures

None

Description

The bank was closed by its board 'for examination and adjustment' in anticipation of a run after nearby bank failures (Benton, Marion). No article states a receivership or permanent closure; closure described as precautionary, so classified as a suspension with likely reopening.

Events (1)
1. December 1, 1930 Suspension
Cause
Local Banks
Cause Details
Directors closed the bank anticipating a run following failures/closings of nearby banks (First National at Marion, Benton National), and heavy withdrawals in the region.
Newspaper Excerpt
Anticipating a run, the Johnston City State Bank was closed here today by the board of directors. It was closed for examination and adjustment
Source
newspapers

Newspaper Articles (6)
1. December 1, 1930 The Daily Independent Murphysboro, IL
Article from The Daily Independent, December 1, 1930

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Article Text

Bank At Marion Fails To Open MARION, ILL., Dec. The First National Bank, with re. sources of approximately $2,000,000 failed to open today, leaving city of more than 11,000 population, without a banking institution. The board of directors blamed steady withdrawals and "frozen as. sets" for the closing. A run on the bank occurred Sat urday, following closing of the First National Bank at Benton. The First National had on deposit hundreds of accounts of persons who had withdrawn funds from other banks in Williamson county, previous to their closings. Plans had been for reopening of due of the closed Institutions, the Marion State and Savings Bank. SPRINGFIELD. ILL., Dec. state banks in sep. arate parts of the state failed to open today, it was announced by the State Auditor's office here. The banks the Johnston City State Bank. Johnston City: Rock Grove State Bank, Rock Grove: and the Marine Trust Company, Carthage. No reason for the been: received here: aminers have been sent amine and andit books of stitution.

2. December 1, 1930 The St. Louis Star and Times St. Louis, MO
Article from The St. Louis Star and Times, December 1, 1930

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Article Text

Death Toll in Mine Blast Is 15. LUTIE, OKLA., Dec. 1.-(By I. S. -With the deaths of Lon Swindlay, 35, and Burl Boyd, 20, the toll of the Haileyville mine explosion of Saturday reached fifteen. Frozen Assets Also Contributed to First National's Condition, Directors Say. By a Special Correspondent. MARION, ILL, Dec. The First National Bank of Marion, one of the largest and oldest banks in the coal mining section of southern IIlinois, failed to open today, leaving this county seat town of 12,000 persons without bank. The institution had deposits of more than Decision to close was made Saturday night by the board of directors. W. L. Dunston, a director, said steady withdrawals during the last few days had reduced the bank's cash on hand below federal requirements. Dunston said $60,000 was withdrawn Saturday. Frozen assets, including anticipation warrants of schools of Marion and Williamson County on which ready cash cannot be realized, were assigned as another cause of the bank's condition. The Marion Township High School may be forced to close, as its funds are exhausted and there is no market for its anticipation warrants. The Marion State Savings Bank, one of six Williamson County banks to close last April, has completed plans for reopening, but indications today were its opening would be postponed. Benton, county seat of Franklin County. is also without a bank, its last financial institution having closed its doors last week. Two banks in Murphysboro, another large town in this section, known as "Little Egypt. consolidated last week, and the First National Bank at Geff, in Wayne County, closed Saturday. Johnston City Bank Closed. JOHNSTON CITY, ILL., Dec. 1. (By I. N. -Anticipating a run following closing of the First National Bank at Marion and the First National Bank at Benton, the Johnston City State Bank was closed here today by the board of directors. It was closed for examination and adjustment and for pro-

3. December 1, 1930 The Edwardsville Intelligencer Edwardsville, IL
Article from The Edwardsville Intelligencer, December 1, 1930

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Article Text

PRIZES AWARDED TO WINNERS IN GRANITE CITY DOG PARADE Ari :- rats of dogdom, with a sprinkling of plain dogs, made their bow on the stat of the Washington Theater at Granite City, III., yesterday afternoon and their owners recolved the prizes that had boen won in the unnual pet parade sponsored by rehants in their trade expansion campaign. There were 10 winners, from a group, largest comical, best-bred. ugllest. commonest, dirtiest and most ragged. There were 12 owners for the 10 winner", there being divided possession of two of the pets. The owners were Bob Chapman, Rog"" Taylor, Elmer Forea Morris Chapman, Walter Forcade, Betty Ruth Huxel. Billy Brady, Buddy Brady, James Perdue, Walt'r Greathouse, Bertha May Decker and Joseph Henry Decker. Hurt in Own Burglar Trap. New York, Dec. 1-Capt. Peter Lenderscarn, skipper of the barge Landslide, yesterday walked into a trap he had set himself. Opening the front door of his summer bungalow at Midland Bench, Staten Island, he received, four Inches below his left knee, a charge from a shotgun he had rigged up as a protection against burglars. So seriously WAR his leg injured that doctors at Staten Island Hospital, New Brighton, found It Decessary to amputate, and later two blood transfusions were given. Johnson City Bank Closed. Johnson City, III., Dec. 1-Tho Johnson CIt, State Bank closed today leaving Williamson County with only leaving Williamson County with only four banks. The bank had deposits of $700,000.

4. December 1, 1930 The Belleville News-Democrat Belleville, IL
Article from The Belleville News-Democrat, December 1, 1930

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Article Text

MARION'S ONLY BANK IS CLOSED FOLLOWING RUN Gangster Is Slain on Venice Road Fifth Victim In Bootleggers' War Is Irvin C. Lochman, Noted St. Louis Police Character. $2,000,000 Institution Closes Leaving City of 11,000 Without Bank; Frozen Assets Are Blamed. Marion, III., Dec. 1.-(UP). The First National Bank, with resources of approximately $2,000,000 failed to open today. leaving Marion, a city of more than 11,000 population without a banking institution. The board of directors blamed steady withdrawals and "frozen assets" for the closing. A run on the bank occurred Saturday. following closing of the First National Bank at Benton, Ill. The First National had on deposit hundreds of accounts of persons who had withdrawn funds from other banks in Williamson county, previous to their closings. Plans had been nearly completed for re-opening of one of the closed institutions, the Marion State and Savings bank. The Johnston City State Bank also failed to open today, leaving Williamson county with only four banks. The State Bank had deposits of $714,114. Springfield, Ill., Dec. Three state banks in separate parts of the state failed to open today, it was announced by the state auditor's office here. The banks are the Johnston City State Bank, Johnston City; Rock Grove State Bank, Rock Grove: and the Marine Trust Company, Carthage. No reason for the suspension had been received here. State bank examiners have been sent to examine and audit books of each institution. The Marine Trust Company of Carthage, Hancock County, according to its last statement on file here, has capital stock of $100,000. Deposits total approximately $250,000. Charles T. Allen is president and E. W. oashier. The Johnston City State Bank. located in Williamson County, has a capital stock of $50,000 and deposits totalling close to one million dollars. Peter Wastier is president and William Huck, cashier The Rock Grove State Bank is located in Stephenson county and has a capital stock of $30,000. Its deposits totaled $225,000. C. A. McAuley is president and L. W. Blunt, cashier. East St. Louis, Ill., Dec. 1.-(UP) the rear seat of his new car, the body of Irvin C. Lochman, 26, St. Louis police character was found today on road near Venice. His body was pierced by five bullets. Police believed that Lochman was the fifth victim in the gang war over bootleg rights on the Illinois side of the Mississippi River. They tentatively laid his death to the Shelton gang. which has warned St. Louis gangsters to keep to their own side of the river. Lochman had been shot three times in the back once in the neck and again in the left shoulder. From bloodstains on the running board of the car, police believed he had been shot elsewhere, his body thrown into the rear seat and the car driven to Venice. The slain man was reported to have had liquor interests in East St. Louis, but operated independently and not with the Cuckoo gang. arch enemies of the Sheltons. He had never been convicted on police charges although arrested 29 times in St. Louis. Two weeks ago Lester Barth and Dewey Goebel were shot to death in St. Louis. reportedly because they were believed to have double crossed their former associates, the Cuckoo gang, and participated in the slaying at Valmeyer, Ill., several months ago of two Cuckoo gangsters, who had invaded Shelton territory. BIRTHS Mr. and Mrs. Fred Hoffman, Jr., of 901 West D street, girl.

5. December 2, 1930 Joplin Globe Joplin, MO
Article from Joplin Globe, December 2, 1930

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Article Text

FOUR ILLINOIS BANKS FAIL TO OPEN DOORS Springfield, Ill., Dec. 1.-(P)Four Illinois banks were closed today, two of them as an apparent outgrowth of the failure last week of the Benton National bank. The First National bank of Marion and the Johnston City State bank closed their doors today, leaving both cities without banking facilities. The Marion institution announced its action was to prevent further heavy by customers frightened by the failure of the Benton bank. The bank withstood heavy runs Friday and Saturday. Directors of the Johnston City bank said their decision to close the doors was in anticipation of run because of the situation in Benton and Marion. The other banks that failed to open today in widely separated communities were the State Bank of Rock Grove and the Marine Trust bank of Carthage. Ex-Minister Sentenced. Oklahoma City, Dec. Thoroughman, former Methodist minister and federal dry agent, was sentenced today by Judge Edgar S. Vaught to serve fifteen months in the federal penitentiary at Leavenworth on conviction of conspiracy to violate the prohibition law. He, was fined $200. Thoroughman was arrested at still near Lawton last March. He pleaded insanity but was declared rational.

6. December 4, 1930 Marion Weekly Leader Marion, IL
Article from Marion Weekly Leader, December 4, 1930

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Article Text

BANK CLOSED Directors in Anticipation of Disastrous Run Order Closing of Bank. Special to JOHNSTON CITY, ticipating run, the Johnston City State Bank closed by order of the board of directors this morning. It closed for examination and ad justment for the protection of deand creditors, according to positors statement issued by Stiritz, vice president. The closing leaves Johnston City without bank. The Citizens State Bank closed in April. The bank had resources of with capitol stock of and surplus of