Bank of New Windsor - New Windsor, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: September 28, 1931
Location: New Windsor, Illinois (41.202, -90.442)

Metadata

Model: gpt-5-mini
Short Digest: 6e77ae38

Response Measures

None

Description

Articles state the Bank of New Windsor closed its doors on Sept. 28, 1931 and a receiver (Elmer Smith) was appointed in October 1931. Subsequent articles (Feb 1932, Jun 1933) discuss dividends and receivers' reports — indicating the bank remained closed and in receivership. No article describes a depositor run prior to suspension, and no reopening is mentioned.

Events (3)

1. September 28, 1931 Suspension

Cause Details: Article states the bank 'closed its doors' on Sept. 28, 1931 but gives no reason or trigger for the suspension.
Newspaper Excerpt: the bank closed its doors, Sept. 28, 1931.
Source: newspapers

2. October 1, 1931* Receivership

Newspaper Excerpt: Elmer Smith, receiver. ... Mr. Smith's report of Feb. 1932, shows that since he was pointed he has collected total ... since appointment in October ... Smith, receiver for the Bank of New Windsor, has collected total of since appointment in October totaled ... leaving balance in the receivers' hands $6,246.85. (OCR text).
Source: newspapers

3. February 1, 1932* Other

Newspaper Excerpt: Checks amounting will mailed this week to of the Bank of Windsor, according statement issued Elmer Smith, receiver. dividend of cent awarded to the creditors, now it, this amount being paid in two checks.
Source: newspapers

Newspaper Articles (3)

1. January 12, 1932 The Rock Island Argus Rock Island, IL

Article from The Rock Island Argus, January 12, 1932

Click image to open full size in new tab

Article Text

BANK RECEIVER Herman Peterson, Former New Windsor Cashier, Assigned to Affairs of Institution. (Special to The Argus.) New Boston, III., Jan. man former cashier of the Bank of New Windsor, which closed two months ago, has been appointed receiver the New Boston bank, closed Dec. 16. Mr. Peterson appointed Oscar Nelson, state auditor, and went to New Boston today with R. Clinton Jones, state bank examiner, commence his duties. The New Boston bank and the Peoples bank New Boston merged last spring under the name the New Boston bank. At the last statement, Sept. 30, prior to New Boston bank showed total resources of $262,228,57, and total deposits of $191,257.71,

2. February 26, 1932 The Rock Island Argus Rock Island, IL

Article from The Rock Island Argus, February 26, 1932

Click image to open full size in new tab

Article Text

TO PARTLY PAY CLAIMANTS Checks in Connection With Closing of Bank of New Windsor Be Malled Out. (Special to The Argus.) New Windsor, III., Feb. Checks amounting will mailed this week to of the Bank of Windsor, according statement issued Elmer Smith, receiver. dividend of cent awarded to the creditors, now it, this amount being paid in two checks. Five per taken from the receivership fund and per from the stockholders' assessment fund. Mr. Smith's report of Feb. 1932, shows that since he was pointed he has collected total for the fund, and has been paid to the stock assessment fund by the stockholders, making the total collections both funds to total $28,516.06 has been paid on the borrowed money which the bank closed its doors, Sept. 28, 1931. The port ance of the general fund. When the per cent dividend taken out, balance $11,000 will remain, held in reserve to preferred claims any liability account of the balance due on borrowed money.

3. June 3, 1933 The Muscatine Journal Muscatine, IA

Article from The Muscatine Journal, June 3, 1933

Click image to open full size in new tab

Article Text

Reports Condition of Banks in Mercer County Shown. Aledo Receiver's reports four closed Mercer banks were filed Friday in Mercer county circuit court with Judge Paul Califf on the bench. All reports cover the business closed banks from the date receiver until May Smith, receiver for the Bank of New Windsor, has collected total of since appointment in October totaled leaving balance the receivers' hands $6,246.85. Heavy ditures included salary penses of receiver expense and fees and dividends totaling $25,Total reported Morgan, for the Farmers State bank Burgess. total leaving receiver's balof This bank placed the hand of the receiver Dividends taling have been paid, Receiver's saalry and have totaled and attorney's fees and expenses amounted to Dividends totaling have been paid by the State bank of which Louis Barnes receiver. His report shows total receipts of and Barnes was appointed as The for the State Bank New show receipts since Dec. 1931 totaling Dissince that time total leaving in receivers account. Dividends totaling $18,709.87 have been paid. receivers salary and expenses totals for Vote