4989. Farmers State Bank (Macon, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 26, 1932
Location
Macon, Illinois (39.713, -88.997)

Metadata

Model
gpt-5-mini
Short Digest
d85ef137

Response Measures

None

Description

Two contemporaneous newspaper notices (Jan 27, 1932) report the Farmers State Bank of Macon was closed by order of its directors to conserve the assets and protect depositors. No run or heavy withdrawals are described. Closure appears voluntary/suspension by directors and the reports give no indication of reopening.

Events (1)

1. January 26, 1932 Suspension
Cause
Voluntary Liquidation
Cause Details
Closed by order of the directors to conserve assets and protect depositors (voluntary suspension/precautionary closure).
Newspaper Excerpt
Macon, Ill.-The Farmers State Bank of Macon, Clyde Young president. closed Tuesday by order of the directors, to conserve the assets and protect depositors.
Source
newspapers

Newspaper Articles (2)

Article from Waukegan News-Sun, January 27, 1932

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Article Text

CURB FOLLOWS STOCK SLUMP Scattered Over Night Selling Develops Slump At The Opening Today. By JOHN COOLEY Associated Press Financial Writer NEW YORK, Jan. (P)-Curb prices underwent mild contraction today, following the lead of the big board. Recessions the junior market, however, were comparatively narrow and there was little or no pickup the volume. Opening quotations reflected scattered overnight selling prompted by the poor earnings report of the United States Steel corporation an apparent belief in speculative quarters that the might be ready for reaction. offerings failed to and trading droned at the snail's pace. Here and stock down as much but generally the fractional Electric Bond Share sold in the vicinity was fairly active although resistance appeared around last week's low for this leading issue. Transactions industrials were made mostly at small declines. BANK CLOSINGS state auditor's office today announced the Farmers State Bank of Colfax, McLean county, closed its doors pending auditing accounts. The bank had deposits of $237,000 the Harris president and C. Harris, cashClosing of the Farmers State Bank Macon with deposits also was announced. Highly and Young cashier the concern which in Macon county. The First State Bank of Ohio Ill. with deposits totalling $240,000 also closed the auditor announced Anderson president and Ruff cashier. The bank is in Bureau county. CASH GRAIN hard 56; yellow hard CORN-1 mixed mixed 38 mixed mixed yellow 39-39% yellow 38; yellow 35-37: yellow yellow yellow 35-3516; white sample grade OATS-2 white white BARLEY SEEDS CHICAGO Jan. market. Red Clover fair to good 1050-1300; choice 1350 sweet clover Alsike 1000-1350. Timothy good 350; choice 375; fancy 400. FOREIGN EXCHANGES NEW YORK, Jan. exchange irregular. Demands (Great Britain in dollars. others in Britain 3.46; France Italy 5.02; 13.95; Germany Holland 40.25; Norway 18.84; Sweden 19.39; Denmark 19.09; Switzerland Spain 8.35; Tokyo APPLES ples $1.25@1.60 per bushel. FLOUR Flour unchanged. Shipments 27,626 Pure bran 13@14. Standard middlings $11@12.


Article from Herald and Review, January 27, 1932

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Article Text

Macon Bank Closed. Macon, Ill.-The Farmers State Bank of Macon, Clyde Young president. closed Tuesday by order of the directors, to conserve the assets and protect depositors. Of all nests, a humming bird's is the most difficult to find.