Kane State & Savings Bank

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: August 1, 1930*
Location: Kane, Illinois (39.190, -90.354)

Metadata

Model: gpt-5-mini
Short Digest: 97f58f54

Response Measures

None

Description

Articles state the bank 'closed a year ago this August' (relative to Dec 18, 1931) and a receiver (Mrs. Gertrude Richards) was appointed; receivership is in progress and dividends are being paid from liquidation. No article mentions a depositor run; therefore classified as a suspension leading to permanent closure/receivership.

Events (3)

1. August 1, 1930* Receivership

Newspaper Excerpt: Mrs. Gertrude Richards, receiver for the Kane State & Savings Bank and for its stockholders, Tuesday issued the second 10 per cent dividend paid by her since the bank closed a year ago this August.
Source: newspapers

2. December 18, 1931 Other

Newspaper Excerpt: Kane Bank Receiver Issues 2nd Dividend...Mrs. Gertrude Richards, receiver for the Kane State & Savings Bank...issued the second 10 per cent dividend paid by her since the bank closed a year ago this August.
Source: newspapers

3. July 1, 1932 Other

Newspaper Excerpt: 5 Percent Dividend Declared by Kane Bank's Receiver...Mrs. Gertrude Richards, receiver of the defunct Kane State & Savings Bank...Checks totalling nearly $3800 were mailed depositors of the bank this week.
Source: newspapers

Newspaper Articles (2)

1. December 18, 1931 Alton Evening Telegraph Alton, IL

Article from Alton Evening Telegraph, December 18, 1931

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Article Text

Kane Bank Receiver Issues 2nd Dividend KANE. Dec. 18. - (Special) Mrs. Gertrude Richards, receiver for the Kane State & Savings Bank and for its stockholders, Tuesday issued the second 10 per cent dividend paid by her since the bank closed a year ago this August. It is reported that COCOR is succeeding beer as the national drink of Germany. Consumption of beer is 38 percent below the figure for 1913, while COCOB is up 70 percent over the same figure. Read Telegraph Want Ads Daily.

2. July 1, 1932 Alton Evening Telegraph Alton, IL

Article from Alton Evening Telegraph, July 1, 1932

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Article Text

5 PercentDividend Declared by Kane Bank's Receiver Funds Obtained From Liquidation of Concern's Assets KANE. July 1, (Special)-A five percent dividend. probably the next to last. was declared Wednesday Ford by Mrs. Gertrude Richards, receiver of the defunct Kane State & Savings Bank, and for its stockholders. Checks totalling nearly $3800 were mailed depositors of the bank this week. The five percent dividend the Year third declared since Mrs. Richards was appointed receiver, makes the total recovered by depositors reach 25 percent. The previous dividends were for 10 percent. Mrs. Richards said today that the funds for paying the latest dividend were obtained from liquidation of the assets bank. Am Am Itself, and principally from the sale of real estate. Am Among the bank's assets still remaining for disposal is the building Am itself. The next dividend. which Am Mrs. Richards said probably would Am be the last, will be made from the sale of the building and from furAm ther judgments suits brought Am against the stockholders. The smaller dividend was deAm clared this time following receipt of Am instructions from the state to make distribution whenever five percent dividend was possible, Mrs. Richards said.