5123. Farmers State Bank (Orion, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 15, 1930
Location
Orion, Illinois (41.355, -90.382)

Metadata

Model
gpt-5-mini
Short Digest
c770c81f

Response Measures

None

Description

Newspaper reports state auditor Oscar Nelson took charge of Farmers State Bank at Orion and cited frozen assets; bank closed May 15, 1930 and a receiver (Arthur/Arthens Combridge) was appointed in June 1930. No run on this specific bank is described in the articles; closure was by government action and a receiver was named.

Events (2)

1. May 15, 1930 Suspension
Cause
Government Action
Cause Details
State auditor took charge and bank closed with 'frozen assets' cited as cause.
Newspaper Excerpt
State Auditor Oscar Nelson took charge of the Farmers State bank at Orion. ... The bank Orion closed May 15, the reason closing being given frozen
Source
newspapers
2. June 16, 1930 Receivership
Newspaper Excerpt
Former Cambridge Banker to Close Affairs of Orion Institution. ... Combridge has been pointed receiver for the Farmers' State bank Orion. The appointment received Saturday from Oscar Nelson, state auditor of accounts.
Source
newspapers

Newspaper Articles (2)

Article from Chicago Tribune, May 18, 1930

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Article Text

RATHER DEATH BY HER OWN HAND TO LIFE'S REVERSES Despondent over the failure of dress shop project, Miss Dorothy Ellen Brown, 32 year old daughter of A. G. Brown, architect for the Pure Oil company, shot herself in the head with her father's revolver yes. morning in the family home, 460 Oakdale Glencoe. She was was dead when found. Her despondency however, dated as far back as her war marriage with young soldier- union annulled five days after its inception, her parents told the police. The identity of her husband was never made public. She had attempted to achieve financial independence by starting the dress shop, her father said, but had been unable to collect from her debtors and had several creditors. The family would have been willing to aid her but she wished no such assistance, it was said. Mrs. Brown and a younger sister, Eloise, 18 years old, had no hesistancy in leaving Miss Brown yesterday morning while they shopped. She was seemingly cheerful after visit from friends Friday. Upon their return they found the door locked and once inside the house, discovered the young woman dead on her bedroom floor. Chief of Police Jake Rudolph of Glencoe was called from his home next door by the hysterical mother and younger sister 2 More Illinois Banks Forced to Close Doors fourth Henry county bank to fail in three years was closed today when State Auditor Oscar Nelson took charge of the Farmers State bank at Orion. Frozen assets was given as cause for the crash. Consolidated Bank Closes. Quincy, III., May 17.-[Special.]The Peoples State bank of Loraine, III., failed to open this morning. It was organized six years ago by a consolidation of two banks. A run on the bank last week, caused by the Farmers State bank closing at Mendon, six miles away caused the deposits of the Loraine bank to be reduced.


Article from The Dispatch, June 16, 1930

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Article Text

Former Cambridge Banker to Close Affairs of Orion Institution. Cambridge, June Arthens Combridge has been pointed receiver for the Farmers' State bank Orion. The appointment received Saturday from Oscar Nelson, state auditor of accounts. The bank Orion closed May 15, the reason closing being given frozen Mr. Athens formerly nected with banks in Cambridge and has held position of state bank examiner.