First National Bank - Marseilles, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 1852
Charter Number: 1852
Start Date: May 7, 1934
Location: Marseilles, Illinois (41.331, -88.708)

Metadata

Model: gpt-5-mini
Short Digest: f412f902

Response Measures

None

Receivership Details

Depositor recovery rate: 76.2%
Date receivership started: 1933-10-27
Date receivership terminated: 1939-08-30
Share of assets assessed as good: 37.9%
Share of assets assessed as doubtful: 54.1%
Share of assets assessed as worthless: 8.0%

Description

Article (The Times, 1934-05-07) refers to 'Troy Long, receiver First National bank, Marseilles' and orders authorizing the receiver to accept payments, indicating the bank was in receivership (closed) by this date. No run or depositor agitation is mentioned in the provided text. Classified as suspension leading to closure/receivership (suspension_closure).

Events (4)

1. July 28, 1871 Chartered

Source: historical_nic

2. October 27, 1933 Receivership

Source: historical_nic

3. May 7, 1934 Receivership

Newspaper Excerpt: Troy Long, receiver First National bank, Marseilles, order authorizing receiver to accept federal farm mortgage in lieu of cash. Order authorizing receiver real estate...motion by receiver to refer claim...People order authorizing substitution of collateral security, order authorizing receiver accept bonds In payment of stock liability (OCR errors corrected).
Source: newspapers

4. May 7, 1934 Suspension

Cause: Government Action
Cause Details: Bank placed in receivership (receiver Troy Long) and court orders authorize receiver actions; indicates closure by authorities.
Newspaper Excerpt: Troy Long, receiver First National bank, Marseilles, order authorizing receiver to accept federal farm mortgage in lieu of cash.
Source: newspapers

Newspaper Articles (1)

1. May 7, 1934 The Times Streator, IL

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Article Text

Win. Casey to Keating and joint tenants, lot block Vermillion Coal Co. addition Streator, Robert Poundstone and wife CIRCUIT COURT. New Cases. Rosa Hesselberth VS. FrederHesselberth bill Troy Long. receiver First National bank, James Killelea and Charles Blackwell, judgment by confession, Same same, same Same Charles Blackwell, same for same, Phillips Petroleum Co. Louis complainant in claim $615.28. Orders. In Troy L. receiver First National bank, Marseilles, der authorizing receiver to accept federal farm mortgage in lieu of cash. Order authorizing receiver real estate. Alt Shaver, all persons interested ruled file objections within Zwanzig Ryg. etc. Order. Hearing and decree for foreclosure. McCarthy VS. Russell, by agreement of parties mettled and dismissed and leave granted to withdraw appeal bond. People People's motion by receiver to refer claim of Schlageter to master in chanOrder. Mehock Aenta motion by defendant for 30 days time plead or answer. Motion allowed. People order authorizing substitution of collatersecurity. People Serena State bank, der authorizing receiver accept bonds In payment of stock liability PROBATE COURT. Final settlement, estate Prosper Malaise Additional bond approved. estate Matthew E. Petition to sell certain shares