5122. Oregon State Savings Bank (Oregon, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
April 1, 1933*
Location
Oregon, Illinois (42.015, -89.332)

Metadata

Model
gpt-5-mini
Short Digest
d48244b8

Response Measures

None

Description

All articles refer to the Oregon State Savings Bank as already closed/defunct with a receiver handling claims (files and court rulings in 1933-1934). No article describes an antecedent depositor run; instead they concern court rulings about preferred county deposits and receiver activity. Suspension/closure date not explicitly given; a claim was filed April 1933, so the bank had closed by then.

Events (4)

1. April 1, 1933* Suspension
Cause Details
Articles describe the bank as closed/defunct and in receivership; no specific trigger (run, correspondent failure, or government action) is given in the texts provided.
Newspaper Excerpt
closed Oregon State Savings bank
Source
newspapers
2. July 20, 1933 Other
Newspaper Excerpt
hearing...on the intervening petition...deposit more declare county in the defunct Oregon Savings bank...the hearing was postponed. (Tri-County Press, 1933-07-20)
Source
newspapers
3. February 9, 1934 Other
Newspaper Excerpt
deposit of county funds totalling the closed Oregon State Savings bank, declared preferred claim...the bank's receiver must pay John Farrell ex-officio collector the full amount of the claim. (Leaf River Mirror, 1934-02-09)
Source
newspapers
4. October 20, 1934 Receivership
Newspaper Excerpt
Oregon Bank Receiver's Suit Dismissed by Supreme Court...the State Supreme Court yesterday affirmed a judgment ... preferred claim against the assets of the Oregon State Savings Bank. William L. O'Connell, receiver for the bank, contended ... (Belleville News-Democrat, 1934-10-20).
Source
newspapers

Newspaper Articles (6)

Article from Tri-County Press, July 20, 1933

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Article Text

STOCKBRIDGE GREED in human nature. Nellie Gray died weeks chronic invalid, tricked out of her small inheritance young woman. she had been the town pauper of West Mass. years. Then died and left her The first thing Nellie did with the money was pay back the the had her support Only one Nellie's relations ever did for her when she was poor He cousin most hard up as she was. But soon got her relations flocked to her house from all rections When she died seventeen different families claimed share in her They her starve. but now they wanted her wealth The probate examined all the claims. There was claim on behalf of the only relation who had ever done anything to befriend Nellie Gray He said he didn't need could get along. He wouldn't like of anyone think he'd been kind his cousin the hope gain. But the court dealt out justice and this cousin got half of the estate, disgust of the seventeen greedy ones. In this imperfect world it is not often that run across human uation which well bears the belief that right and justice will triumph the end. SUPERSTITION pains inside. In my boyhood used hear back country people say that was dangerous drink from open stream spring. They told weird persons who had swallowed frogs eggs which hatched in their insides. Sometimes was lizard eggs. member reading many years ago gruesome of man who had thus accidentally swallowed alligator egg and devoured from within the reptile which hatched in his imagine that belief is as old humanity. Folk ignorant of physiology attributed internal pains some sort actual reptile in their vitals. But had supposed that erybody knew enough in these lightened to realize the impossibility such happenings until newspaper article from shore resort the other day According to this story young woman walking on the beach picked what she thought pearl She put in her mouth and accidentally swallowed And some time later acording the account. she died in devoured by octopus which had hatched from the egg that had mistaken for pearl! Apparently there still people gullible enough swallow such storAge-old beliefs do not vanish speedily in the face of imagined HUMOR cheese. The funniest sayings often not intended. The bit of unconscious humor which have heard lately told to me very able woman physician specializes in mental cases New England city. One her patients attempted suiside by taking three boxes of rat poison That was overdose. and nature got rid of quickly that he recovered But he had his own theory why failed to work course. now what was the matter,' the poor the doctor directions on told the box to spread the cheese, and forgot the on pieces and At church lawn-party long ago heard the minister's daughter complain. seriously. that young shy off from girls who live in parsonage. "What chance has minister's she sighed. with one eye on the young man who the village tends the himself who was couple of chattering girls. Her father. overhearing her, make me think of Methodist parsonage England, where there were two daughters. They may felt much you do, those have the world two of two girls gave most famous men. One of them became the mother Rudyard Kipliving poet, and the her sister's Stanley Baldwin. came Prime Minister of England. saw the minister's daughter little later. with young college professor on of the village girls have couldn't branded thought she was letting sure but him hold her hand. JOBS men. man is The mark of that he secondrate chance in to prove his One young man know lost his of the depresjob the hardest part else he could tried anything sion. but all he could get get to do, sell advertising on comchance He went the biggest job the world, and six months his within running to much as the high- Now he had ever earned. est salary man of his newspaper the star organization. want first-rate Second-rate men First-rate jobs handed make their own first-rate jobs. Bank for Polo 1933!" Postpone Indefinitely the Hearing on County Moneys By agreement of counsel, the hearpetition of on the intervening Donald Crowell State's Attorney deposit more declare county in the defunct Oregon than preferred claim Savings bank State been indefinitethe bank has against postponed. The hearing was Edwards origJudge Harry set inally of Dixon for last Monday morning courthouse. Attorthe Ogle county ney Robert Bracken, representing Attorneys receiver, and bank and Gerald Martin Peterman the bank derepresenting filed to the positors, have


Article from Forreston Journal, February 8, 1934

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Article Text

COUNTY CLAIM IN OREGON BANK IS MADE "PREFERRED" By a decision rendered Friday morning in Oregon, by Circuit Judge Harry Edwards of Dixon, deposit of county funds totalling $1 in the closed Oregon State Savings bank, was declared preferred claim, as the common low prerogative of Illinois. According to the ruling of the court, the bank's receiver must pay to John Farrell as ex-


Article from Leaf River Mirror, February 9, 1934

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Article Text

COURT DECISION ORDERS COLLECTOR'S DEPOSIT BANK OF $143,425.17 By decision rendered Friday morning in Oregon, by Circuit Judge Harry Edwards Dixon, deposit county funds totalling the closed Oregon State Savings bank, declared preferred claim, common law preorgative nois. According to the ruling court, the bank's receiver must pay John Farrell ex-officio collector, the full amount the claim. The decision the court terminated hearings the claim, which was filed the circuit court, April, 1933. Citing Supreme court cisions, Judge Edwards emphatically declared that the Illinois Supreme court has repeatedly held that the state has right of preference funds and ordered that the entire posit paid from the bank's assets. Attorney Robert Bracken, legal counsel for the bank, stated that appeal to the state supreme court, from the decision, will be taken.


Article from Tri-County Press, February 15, 1934

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Article Text

COUNTY CLAIM IS PREFERRED Bank's Receiver Must Pay to John Farrell According to Recent Decision By decision rendered recently Oregon, by Circuit Judge Harry Edwards of Dixon, deposit of county funds totalling the closed Oregon State Savings bank, declared preferred claim, common low prerogaIllinois. According the ruling the court, the bank's must to John Farrell officio collector, the full amount of the The decision of the court terminated the claim, which filed in the circuit court, in April, 1933. Citing numerous Supreme court decisions, Judge emphatideclared that the Supreme court has held that the state right its funds and ordered that the entire deposit be paid from the bank's Attorney Robert legal counsel for the bank, stated that apstate supreme court, from the decision, will be taken.


Article from The Belleville News-Democrat, October 20, 1934

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Article Text

TAXES HELD TO BE PREFERRED BANK CLAIMS Oregon Bank Receiver's Suit Dismissed by Supreme Court. Springfield, III., Oct. 20. -(UP) -Holding that tax monies are referred claims against the assets of closed banks, the State Supreme Court yesterday affirmed a judgment of the Ogle County Circuit Court which made a deposit of $143,425 by John T. Farrell, Ogle County collector, a preferred claim against the assets of the Oregon State Savings Bank. William L. O'Connell, receiver for the bank, contended that the revised banking act abrogated the common law prerogative of the state to have its claim for undistributed tax moneys preferred over the bank's general creditors. "It is well established that the rights of the sovereign are never impaired by a general legislative enactment unless such an intent is expressly declared by the statute," the decision said. Had the court held that the deposit was not preferred claim It would have had the effect of releasing many million of dollars of state deposits in defunct banks for equal division among all depositors.


Article from Tri-County Press, November 29, 1934

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Article Text

HOLDS SECURITIES Expect Increase in Values to Help Pay Claim: Receiver Has in Cash Ready first payment amounting to ap- proximately expected mentarily from McDonald, de- puty receiver of the Oregon State Savings bank, to apply on the preferred claim of county treas- John Farrell. The payment, felt in Oregon, will be made Payment of the money is being held up pending the receipt by Miss Lillie Shelly the affirming order of the Supreme Court of Illinois, which recently declared the claims of the county collector to be preferred over other creditors of the bank. At the present time, Deputy Receiver McDonald has in cash on hand belonging the closed Although sufficient assets are on hand pay the entire claim in full, not believed that securities will be sold to complete the payment at present. Market prices of certain holdings are still too low to permit sale of the assets, was stated. A revaluation of bonds and other securities listed in the bank's assets being made by the office of WIIliam Connell, bank receiver, in Chicago Practically all securities held by the bank receiver will have to be used to pay the county claim of believed. Whether or not there will be sufficient funds on hand after the payment of the counclaim to provide any dividend for the general depositors of the closed bank depends almost entirely on the collection of unsecured loans and realization on "doubtful" bonds and securities. No interest on the claim will be paid by the bank receiver to the county, and final payment of the deposit may not be made for several months.