State Bank - Lane, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: January 13, 1932
Location: Lane, Illinois (40.123, -88.856)

Metadata

Model: gpt-5-mini
Short Digest: 8b1944a8

Response Measures

None

Description

Article (Jan 14, 1932) reports the State Bank of Lane had closed its doors 'weeks ago' and that William Smith was named receiver (announcement made Wednesday before publication). Closure appears permanent with receiver appointed; no run is described. The failure is said to follow the failure of the Weldon (State?) bank, so cause classified as distress among local banks.

Events (2)

1. January 13, 1932 Receivership

Newspaper Excerpt: William Smith ... named Wed as receiver for the State Bank of Lane which closed its doors weeks ago . Mr. Smith is one of the leading lawyers of the city.
Source: newspapers

2. January 13, 1932 Suspension

Cause: Local Banks
Cause Details: Closed following the failure of the Weldon (State) bank, suggesting contagion from another local bank
Newspaper Excerpt: William Smith ... named Wed as receiver for the State Bank of Lane which closed its doors weeks following failure of the Weldon ...
Source: newspapers

Newspaper Articles (1)

1. January 14, 1932 The Decatur Daily Review Decatur, IL

Article from The Decatur Daily Review, January 14, 1932

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Article Text

Had "Bad Man" But Let Him Go Spudich, Suspect in Dewitt, In Toils Again. Clinton That Dewitt county authorities hot on the trail of holdup here several weeks ago, when suspect in the Dewitt bank was held several days and was denced Wednesday when Sheriff Fred was notified by the department of justice Washingthat Andrew alias James Carlson. the man formerly held had been picked up by the police department in Peoria. charged with robbing a bank in Woodstock Although proving his innocence in the bank the man long criminal record was held here behind on charges auto and was rehad a number of runs with the police Chicago, where one be was held under bond of $30,000 in the criminal court Lane Bank Receiver Named. Clinton William Smith of this city, former state's attorney for Dewitt county named Wedas receiver for the State Bank of Lane which closed its weeks following doors ago failure of the Weldon closely the State Mr. Smith is one of the leading lawyers of the city. Taxpayers' Association Meets. The Dewitt County TaxClintonassociation met at the K. of hall in this city m. Thursday when plans and activities for the coming year were discussed. The association one of the most active in the state. Chief Called To Chicago. Clinton- of Police Charles Costley of this city was called to early Thursday morning. in the trial where he testify of Vernon -year-old youth being tried for the murder of there last year Royles at one resided here, and is well known in police circles Once when nlaced under arrest by the local nothe youth had in his poslice session a bullet identical with the murdered woone found in the man's body. Executors of Johnson Estate. Clinton Judge William F. Gray of the county Philip E. Johnnamed Marion and the estate of their executors of father. Joseph E. who died here weeks Hatfield Burial of M Clinton remains Hatfield former Clinton resident found dead near who this were brought to early Clinion for burial follow ing funeral services in Decatur Interment was in Woodlawn cem-