5133. Ottawa Banking & Trust Company (Ottawa, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust company
Start Date
September 29, 1931
Location
Ottawa, Illinois (41.346, -88.843)

Metadata

Model
gpt-5-mini
Short Digest
08599f77

Response Measures

None

Description

Articles (Sept. 30, 1931) report the Ottawa Banking & Trust Company closed by action of its board (closed Tuesday, 1931-09-29). Later (Nov. 2, 1931) state auditor announced receivers of La Salle County closed banks, naming Ottawa Banking and Trust Co., indicating permanent closure/receivership. No article explicitly describes a depositor run on this bank; the run mentioned in one article refers to National City Bank after Ottawa's closure.

Events (2)

1. September 29, 1931 Suspension
Cause Details
Board of directors decided to close to protect the bank's assets; articles do not attribute closure to rumor, correspondent failure, or depositor run.
Newspaper Excerpt
the Ottawa Banking and Trust co. having closed Tuesday
Source
newspapers
2. November 2, 1931 Receivership
Newspaper Excerpt
State Auditor Oscar Nelson today announced the appointment of the various banks La Salle county, recently closed: Peoples Trust and Savings Bank Ottawa, Robert Smith. Ottawa Banking and Trust Com Joseph ...
Source
newspapers

Newspaper Articles (4)

Article from Des Moines Tribune, September 30, 1931

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Article Text

STATE SURVEY BEGINS FRIDAY Conservation Project Office to Be Opened. Work on the survey of the state with view of establishing a long time conservation program will begin Friday when representative of Jacob of Chicago, will set up an office here. Ralph Kittinger. secretary of the state of conservation. made the announcement, said the first payment made by the state on Crane's which signed this week by members of the board and the fish and game commission. Crane's bid for the survey which he expects will take approximately two years to plete, was OLYPHANT. PA., BANK CLOSED SCRANTON, PA The Miners Savings Bank and Trust co. at Olyphant, near here, closed Wednesday. The deposits approximated three million dollars. Directors decided to close in order to protect the bank's assets. 2ND OTTAWA BANK CLOSED. ILL. National City bank of Ottawa failed to open Wednesday. It was the second Ottawa bank to close in two days, the Ottawa Banking and Trust co. having closed Tuesday Both actions were initiated by their boards of directors. The Na tional City bank had deposits of 1,17 on June 30.


Article from Waukegan News-Sun, September 30, 1931

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Article Text

CHICAGO STOCKS CLOSING PRICES TRANSFERS Furnished ILLINOIS TITLE COMPANY ABSTRACTS TITLE TITLE GUARANTEE POLICIES ROCK ISLAND BANK CLOSED ROCK ISLAND. Ill., Sept. Central Trust Savings bank. largest financial resources 700,000 closed after posted notice the bank closed for audit and examination by direc- PEORIA LIVESTOCK III., Sept. Livestock steady to higher: 250-300 pigs and light lights 4.65 veals 9.50 down. M LIVESTOCK ESTIMATES CHICAGO. Sept. estimated receipts tomorrow Field Cattle 6,000; hogs 24,000; sheep WAUKEGAN. ILLINOIS Sept. 25, 1931 S Darrow Leickem and lots 54 55, Beach View Sub. sec 33, Benton. and Co W Abel and tens deed lot blk 53 Round Lake Avon. Bank to and Berg tens deed lot 39, blk Round Beach Sub, Avon. Gonyo Pt of SW sec Libertyville. Mason to Hinton and tract of in H Bartlett to Arbuthnot deed, pt froctl sec Benton. wf Reardon SE qr of NE Cuba Schwartz and wf to Schwarts 3% lot blk lot 46, blk Ravinia lands. Paul and hus to E Evans and tens 165, Pleasant sec Rockenbach and to Heybeck and wf tens tract sec Ela. Uhler Whipp Golf Links Addn, sec 27, Deer- FLOUR MINNEAPOLIS 30. Flour unchanged. Shipments 32,093 PEORIA GRAIN PEORIA. Sept. corn lower: No. yellow 36: No. yellow 36: No. yellow Oats unchanged: No white 19@ 19½ CLOSE OTTAWA BANK III., Sept. Because reported failure to get financial assistance from Chicago banks during the National City Bank closed doors today The run began, after the closing the Ottawa Banking and Trust Company yesterday. National City Bank was capitalized for $200.in solvent condition 2716 depositors will get 100 cents on the dollar. officers said. Sept. Stocks Close Nor'west Bancorp 23% Stocks Close No West Ut Pf Abbott Lab No West Ut Acme Steel 18 Perfect Circle Am Equities 2% Pines Winter Am Pub Pf Public Serv 170 Appalach Gas 1% Pub 110 Art Metal Pub Serv Pf 120 Assoc Q Assoc 75 Qrs Devry 1% Asoc Quaker Oats Assoc Util Quaker Oats Pf 115 Assoc Util R Assoc Tel Util Railroad Sh Assoc Tel Util Rath Pack Assoc Inv 54% Raytheon Vtc Reliance Int'l Bendix Avia 14% Ross Gear Warner Ryerson Son Brach Sons Stl Natl Stkyds 55 Brown Seaboard Pub Ser Brown Seaboard Burnham Trad Signode Steel Pf Burnham Trad Pf Pow Butler Bros 3 Un Gas Cent Cold Storage West Pf Cent Pub Ser Pf 90 Stand Dredging Swift Ind Pow 8 Pf Swift Int'l Cent Pub Serv Cent So West Tel Bond Sh Cent & So West Pf 1st Cent Pr Pf 85 Thompson Invest U Chic Chi No Shore and Milw Unit Corp of Am Unit Millard to Latimer W D. Chic Cab Cities Service Gypsum 25% lot 12, Hovlands H Pk Com-with Radio Tel 13% Acres Sub. sec 21, Deerfield. Chicago Utah Radio Latimer Miller 25% Ind Millard Cord Util Ind Pf 13% Hovlands H Pk Acres Corp Sec 21, Deerfield Ctfs 23 Vortex Cup Tr and Savings Crane Co Vortex Cup 24½ Oliver Pf W lot Round Lake Crane 90% E Walgreen Co 13 Beach and 20, Household Waukesha Mot 35 Hultzen Hultzen and Elec Fitzsimmons & Con 19 Wayne Pump Pf Pts of lots and 26, blk West Tel 20% First Addn to Everbreeze Sub, Sec Gen Thea Eq Vtc Wis Bankshrs Total stock sales 160,000 Gt Lakes Central Mrg District Bank Total sales $67,000 Gt Lakes Dredge Robert Kenyon deed Deerpath Hill Grief Bros Corp 16 Lake Forest. Larsen and wf to Guetsen Hall Print 12 lot 113, Shaws Sub on Fox Hart-Carter Pf Lake. Houd-Her The First Natl Bank of Lake Forest Houd-Her Gist wf tens deed, 50. Clerks sec 28, Shields Ill Brick Speidel and wf to Gist and Insull Util tens of lot 50, Insull 2nd Ser Clerks Sub, sec 28, Shields Fireman 6½ McCluer Quinlan W D K NE qr of SE qr and hf of SE or Kellogg Switch Fremont Ky Cum Pf 48 Keystone Steel Lane Drugs Pf MANY BIDDERS Lawbeck Corp Leath 12 Lincoln Print Lynch Corp 12% Manhat Dearborn Expect At Least 12 Bidders Mapes Cons Marshall On Repair Job At Postoffice Material Ordered By Gov't. McCord Rad McQuay Norris Merch Mfrs At least contracting firms Met Ind Co Allot Ctf 29 are bids entered Mickleberry's Food afternoon on proposal West Util 10 SILVER calling for extensive repairs to the Mid Pf A NEW Sept. Waukegan post office building. Bar It from War Mancel Talcott's office this morning Midland United 14 that twelve been given specifications the proposed 6Pc improvements to the majority 78 of whom will return Util Pf 72 proposals before the deadline at Miss Val Util 73 o'clock tomorrow Pipe While estimate has been released by federal inspecChem Pf tors as to the probable cost of the entire improvement. it appears cerSpring tain that the project will amount to 12% several thousand dollars. as the inStr spector has recommended extensive Inv repairs throughout both the interior Inv and exterior the building Inv Pf 37 repairs the roof will probably entail the largest exRadio any repair on the Noblitt-Sparks tire All iron the exterior Pow the building will repainted. the Am


Article from Waukegan News-Sun, September 30, 1931

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Article Text

BRIGHT SPOTS IN BUSINESS BRIGHT SPOTS IN BUSINESS United Press NEW YORK, Sept. tal life insurance force increased during the first half 1931, according the Life Insurance Presidents Glidden company has been showing steady increase sales the past three months, Adrian Joce, president of the said. shortage of merchandise in the industry predicted by president of the Clothing Association: shipments for August than 10 per cent greater than for August, 1930 NEW Avenue Railsystem reported the two months ended August surplus $42,897. against loss the corresponding period of 1930. Mountain sugar factories opened this week have provided 100 days' work for 38,500 men to the 100,000 regularly employed, United Press survey revealed. for construction work than $1,000,000 have been placed with the Austin company during the weeks, company officials Air Conditioning, Heating frigerating company had 33 per cent orders hand the close the third quarter than on June 30, according to company officials. NEW States Pipe & Foundry company contract tons of 36 inch pipe for Lincoln, Neb. CLOSE SERENA BANK SERENA, Ill., Sept. (INS)The failure the Serena State bank here today marked the third La Salle county bank that has closed its doors within the last two days. Both of the others were at Ottawa, the Ottawa Banking and Trust company closing yesterday and the National City Bank leaving its doors closed today. latter in solvent condition, to officers, but closed inability to get ready cash to meet Serena Bank capital stock of TREASURY BALANCE WASHINGTON, Sept. The treasury net balance Sept. Expenditures for that day $11,314,822.71. Cusfor month through Sept. 28 were 33,349,385.73. COTTON Sept. futures


Article from The Times, November 2, 1931

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Article Text

RECEIVERS OF SALLE COUNTY BANKS ARE NAMED Nov. State Auditor Oscar Nelson today announced the appointment of the various banks La Salle county, recently closed: Peoples Trust and Savings Bank Ottawa, Robert Smith. Ottawa Banking and Trust Com Joseph Utica State Bank, Weston sington. Serena State Bank macher. Troy Grove State Bank, Andrews