Matherville State Bank - Matherville, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 1, 1931*
Location: Matherville, Illinois (41.260, -90.608)

Metadata

Model: gpt-5-mini
Short Digest: f83be564

Response Measures

None

Description

Article (Nov 2, 1931) states the Matherville State Bank closed voluntarily Oct. this year due to depreciation in bond values during the depression. No run is mentioned. A suit by depositors to fix stockholder liability was filed in Aledo circuit court in early November 1931.

Events (2)

1. October 1, 1931* Suspension

Cause: Voluntary Liquidation
Cause Details: Board of directors closed the bank voluntarily in October 1931 after depreciation in value of the bank's bond holdings during the depression.
Newspaper Excerpt: the bank ... closed voluntarily Oct. this year. Most of the bank's assets ... bonds and the depression of values of such bonds brought about action of the board of directors.
Source: newspapers

2. November 2, 1931 Other

Newspaper Excerpt: Stock Assessment Sought tion Opened by Creditors of Closed Matherville Bank. ... to fix the liability of stockholders of the defunct Matherville State bank has been filed in circuit court of Aledo by three depositors on their own behalf and for all other creditors the bank.
Source: newspapers

Newspaper Articles (1)

1. November 2, 1931 The Rock Island Argus Rock Island, IL

Article from The Rock Island Argus, November 2, 1931

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Article Text

BANK LIABILITY STARTED IN ALEDO COURT Stock Assessment Sought tion Opened by Creditors of Closed Matherville Bank. (Special to The Argus.) Aledo, III., Nov. to fix the liability of stockholders of the defunct Matherville State bank has been filed in circuit court of Aledo by three depositors on their own behalf and for all other creditors the bank. bank organized Sept. 24, 1920, capitalized at $15,000 and closed voluntarily Oct. this year. Most of the bank's assets diversified list bonds and the depression of values of such bonds brought about action of the board of directors. Louis of been Savings accounts of the bank are listed certificates of deposit, $3,200; demand deposits, those holding bills payable to the bank. none: those holding standing drafts, Attorney Paul Graham of Aledo filed the suit and the stockholders are George Adams, John Adams, John Buyan, Carroll Bopp. Mike Bugos, Corwin Bopp, Vernon Clark and Paul Child. Clark Child: William Coltman, James Child, Caddy. John Durney, William Frye. Amiel Frye, Paul Greenwood. George Gooden, Donald Gillogly, Ben Gifford, Ann Hebblin, Adolph Hagman, Charles Hagman, Dave Hakman. R. Howie. W. JohnB. Johnson, Matt Juras, Jackson, John Jones, Mary Jones, Stanko Kauzlarich, John Matejzel, Dan Milner. Ell Maynard, Mike Mack, administrator James Mack, John Malkenec, Moline. Hugh McGonigle, James O'Rourke. Oscar Charles Margaret Hagman, Anton Gulick. Ida Peterson. Dave PritchGeorge Ruzich, Mary Sass, Schroeder. Harvey Wood, Whan and Joe Perkey.