5267. First National Bank (Sesser, IL)

View Charter #8758 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
8758
Charter Number
8758
Start Date
December 13, 1930
Location
Sesser, Illinois (38.092, -89.050)

Metadata

Model
gpt-5-mini
Short Digest
17baadd8

Response Measures

None

Receivership Details

Depositor recovery rate
53.7%
Date receivership started
1930-12-26
Date receivership terminated
1937-11-27
Share of assets assessed as good
31.6%
Share of assets assessed as doubtful
53.8%
Share of assets assessed as worthless
14.6%

Description

Contemporary reports (Dec 13-16, 1930) state the First National Bank of Sesser failed to open and was in the hands of a state bank examiner; no article describes a depositor run. The bank remained closed (reopening delayed in April 1931) and a receiver is mentioned in later reporting (1932), indicating permanent closure/receivership. OCR errors corrected (dates and slight garbling).

Events (6)
1. June 21, 1907 Chartered
Source
historical_nic
2. December 13, 1930 Suspension
Cause
Government Action
Cause Details
Bank failed to open on Dec. 13, 1930 and was put in the hands of a state bank examiner/closed by state banking authorities or directors
Newspaper Excerpt
the First National Bank of Sesser failed to open for business
Source
newspapers
3. December 15, 1930 Other
Newspaper Excerpt
Cashier of Closed Bank Found Dead... Don Lionberger, cashier of the closed First National bank of Sesser, III., was found dead today with a bullet wound in his head. The bank closed several days ago and now is in the hands of a state bank examiner.
Source
newspapers
4. December 26, 1930 Receivership
Source
historical_nic
5. April 13, 1931 Other
Newspaper Excerpt
DELAY BANK REOPENING ... reopening of the First National Bank of Sesser, which closed its doors last month, received setback ... the cashier committed suicide.
Source
newspapers
6. October 28, 1932 Receivership
Newspaper Excerpt
John Horton of Minneapolis, receiver for the First National banks at Benton, Christopher and Sesser, was injured in an automobile accident near Lenzburg Thursday.
Source
newspapers

Newspaper Articles (9)
1. December 14, 1930 The Independent-Record Helena, MT
Article from The Independent-Record, December 14, 1930

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GRAIN By JOHN P. BOUGH Dec. -Skidding and July wheat today reached the lowest prices registered in 27 In sharp contrast. other future delivwere upheld by Federal Farm allies. July dropped into the "sixties." and finished virtnally the day's bottom figures. Closing heavy. with whent from yesterday to cents lower. corn to off. onts 10 down. and changed 10 10 cents taking wheat down bushel exactly same price December corn closed The but cent low for tury. According authorities mount ever. appeared to swayed by of of nadian abroad. stance regarded toreshadowing Canada and countries be the equator Miles Dec. 13. production of sugar beets in the Miles City vicinity started movement to secure a beet sugar factory this The proposition was brought before the Commercial club by Sawtell who expressed himself as confident beet sugar plant would be DAY ing concern. would also speed up sugar beet culture. said. The suggestion met with favor among business men and although no action has been taken to work for the factory is said the proposition may be launched at an early time. Mr. Sawtell believes beet sugar factory would be paying concern and one farmers would welcome. Farm land under the ditch around Miles City 16 adapted to sugar beets. 100. lower. light 25c and lower: choice Christpractical top matured bulk short fed light 500: fresh limited to market: prices naminally trucked all hos 500. for week Lambs. fed time: sales. feeding sales. lumbs to Cut SPOKANE 13: Dec. 2. sheep All THREE SMALL BANKS IN MIDWEST CLOSE DOORS Chicago. Dec. 13. more small midwest banks closed their doors today In Iowa, the Washta State bank. with deposits of $125,000. was closed by its directors In Illinois. the First National Bank of Sesser. capitalized at $25,000. failed to open for business: in Wisconsin. the State Bank of Elroy. with deposits of $460,000, was closed by the state banking department. Two other Wisconsin hanks, closed for reorganization, were opened. GERMANY HOLDS OFF ON AGREEMENT ON SUGAR GOOD NEWS Detroit. Mich Dec. The Chevrolet Motor company announced tonight 18 adding night shift to its present force of em playes and that It expects to keep least 30,000 men AL work in the Do- MINNEAPOLIS compared to Market lower: northern. No. northern Brussels, Dec. 13. (/P) An agreement on plan 10 stabilize what Thomas L. Chadbourno called bewttched industry" the world's SURRE business WAS reached today by all continental European nations attending the International sugar conference except Germany. Thus the conference must continur Monday despite the fact that many delegates expected It to end today and were forced to concel railway reservations which they had procured Tumbling wheat quotations followed by reports of wet wonderful Investigate throughout the provinces of Pain 4616 Ohio pas Cordoba identally wheat trading more PERSONAL than of late. There were predicJoin our tions that extremely low prices for handsome wheat would not only serve to ladies honorable tail spring wheat acreage in this yourself. ideal. country and Canada but also would Club. Box Send Standard mean likelihood that would hardly pay to cut some the wheat protein. protein. in Argentina and Australia. protein. Provisions with grain. hard Montana spite upturns in the value of hogs durum. Open Low May SEATTLE No Cattle. 31. CORN FUTURES 250 (AP). Price WHEAT OATS Dec May RYE Dec Close December (new) LARDJan yellow. white. sales

2. December 14, 1930 The Des Moines Register Des Moines, IA
Article from The Des Moines Register, December 14, 1930

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SUIT DEMANDS N. Y. BANK PROBE Bank of United States' Stockholder Asks an Accounting NEW YORK Phe Bank of United States has been named defendant In sult demanding an accounting and calling for an investigation of the institution's affairs Max E Bloch chairman of a stockholders' protective committee, filed the action in Westchester county supreme court The bank was closed Thursday by Joseph Broderick state superintendent of banking Restrain Bank in East. HARTFORD CONN The Trust of New Britain, capitalized at $500.was restrained from paying out deposits Saturday afternoon by the state bank commissioner. Elroy Wis Bank Closed. MADISON, The banking department anthat the State Bank of Elroy was closed Saturday on action of its board of directors. The bank last statement showed a surplus of 000 and deposits of The banking departalso the reopening of the Home bank of Blair of $30,000 and that of the Plymouth Exchange bank of Plymouth, capitalized for $50,000 Union City, Ind., Bank Fails. APOLIS state banking department was notified Saturday of the closing of the Union Loan and Trust company at Union The institution was capitalized at $50,000, with deposits of $455,000. Michigan Depository Closed. BRIDGM MICH The Bridgman State bank failed to open its doors Saturday The bank, fifteen years old. had deposits of approximately $500,000 and was capitalized at $20.000. Illinois Bank Closed. SESSER. ILL. (P)-The First National Bank of Sesser failed to open Saturday The bank was capitalized at $25,000 and was the only depository here.

3. December 14, 1930 The Independent-Record Helena, MT
Article from The Independent-Record, December 14, 1930

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Article Text

GRAIN By JOHN P. BOUGHAN Chicago (AP) Skid ding cotton and stocks, July wheat today the lowest prices registered in In sharp contrast other future deliv upheld by Federal Farm board July dropped into the finished a virtually day's bottom figures Closing quotations on all corpals were with wheat 1111 hanged from to lower off to provisions The fall of whent down exactly same price December corn Hosed but cent above all time for this According mount grain business outlook Wheat how appeared swayed by ports of cheaper offerings of nadian abroad and countries below the equator and good helfers lower: bulls. 25c light yearling steady and 25 50c top top bulk short fed steers $7.50 bulk steers and 26 choice to stock Hogs. supply limited to test market prices nominally steady: no car hogs trucked nominal for week Lambs. 25 early fed lambs. showin to high time late slaughter $3.75: sales. $3.25 feeding lambs bulk $6.25 to $6.65 SPOKANE 2; sheep All steady unchanged SEATTLE THREE SMALL BANKS IN MIDWEST CLOSE DOORS Dec. 13 Three more small midwest banks closed their doors today In Iowa, the Washta State bank, with deposits of $125,000. closed by its directors In Illinois, the First National Bank of Sesser. capitalized at $25, 000. failed to open for business; in Wisconsin. the State Bank of Elroy. with deposits of $460,000, closed by the state banking department. Two other Wisconsin banks, closed for reorganization, were opened. Tumbling wheat etc quotations mist. followed by reports of wet har Makes wonderful and demon vest in Argentina package Tremendous Big Investigate sure throughout the of Pain P94-11 wheat trading PERSONAL than of There predic Lonely our club. world's tions that extremely prices for greatest extension bureau Let wheat would not only serve to cur ladies or honorable men like tail spring wheat acreage in this lonely One may your country Canada but also would Standard Club. Box mean likelihood that would hardly pay the wheat in Argentina and Australia cent Provisions sagged with grain dedark hard Montana cent prospite upturns in the value of hogs to arrive No. amber WHEAT- Open Low Close Dec durum. (old) March. May July. Mar May (old) to May Barley Seattle. Dec 31. CORN Flax No to Hogs. 442 $9.25 to heavies under 250 heavies. MINNEAPOLIS FUTURES 300 lbs., $8.25 to heavies. 300 lbs. Dec over packing WHEAT $6.25 to $7.25 plgs. $8.35 Dec May (old) May Dec 41% OATS May 42 33% FLOUR Flour unBran (old) to $18: middlings $17 $17.50 34% FLAX Duluth Dec 13 flax on May (old) 45% GERMANY HOLDS OFF ON May (new) AGREEMENT ON SUGAR LARD9.50 Brussels, Dec. 13. (AP) An May 9.15 9.15 agreement on plan to stabilize what Thomas L. Chadbourne called 11.40 May 11.62 bewitched industry' the Cash world's sugar business reached today by all continental European nations attending the inwhite, to GOOD NEWS ternational sugar conference except 33c. Detroit, Mich., Dec. 13 Germany BarleyThe Chevrolet Motor company an- Thus conference must con$8.50 nounced tonight is adding night tinue Monday despite the fact that Clover to $22 shift to its present force of em- many delegates expected it to end IN MINNEAPOLIS ployes and that expects to keep at today and were forced to concel Dec 229 least 30,000 men at work in the De- compared to 220 year ago. Market railway which they had troit area all winter 80%c: No. northern 15 per cent procured course has finally been put in its place. is in the Nebraska state insane hospital and is used by the patients to keep their minds occupied. is thought that this game will aid materially in managing the

4. December 15, 1930 Dunkirk Evening Observer Dunkirk, NY
Article from Dunkirk Evening Observer, December 15, 1930

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PRESIDENT DISAPPEARED Note Found Today Confessing a Shortage Which May Run to $700,000. BANK CLOSED BY STATE DEPARTMENT Family of Andrew Horvatt, President, Say He Left Home Sunday Night and Fear He Took His Life. Binghamton, N. Dec. The State Bank of whose total resources to Its September report were listed at $1,890,000 with deposits of $1,261,000, was ordered closed today by the New York state banking department following the dis of Andrew appearance president. A note confessing shortage. ap parently written Norvatt. was found on his desk when the bank was opened this morning. Bank aminers were notified and the doors closed. Bank officials estimated the shortwould amount to between $600.age and $700,000. The bank is situated In district populated mainly by foreign born. were the chief depositors. According to Norvatt's family. the bank president disappeared last night and has not been heard of since. They he took his life. feared The note exonerated all officials the bank any blame for the shortage. according to bank examiners. Horvatt. who is about 52. was highhis district. His regarded in such that be was termed fluence was the "king of the First ward." Horratt was Insur. It was reported $500,000. Christmas club depositors faced the It under loss of their money. stood, because although checks had been mailed them. only few have been cashed. Bank examiners declined to vulge the contents of the note, but learned from reliable source only few words. that contained as follows: "Joseph Ilidock, Floyd Mottram and Michael Horvalt are la way res ponsible for any misappropriation of funds of this bank. (Signed) Andrew J. Horvatt." Hidock Clark. Mottram an sistant cashier, and Horratt. brother of the bank president. cashier. New state department of banks had taken the State Bank of Binghamton permit complete investigation of "serlous irregularities" and serve assets, State Banking Superintendent Joseph A. Broderick annount. ed today. In its last quarterly statement Sept. 24. the bank reported $100,000 cap Ital. $265,501 surplus and undivided profits and deposits of $1,261,119. Cashier Suicide Lionberger. cashier of the closed First National bank of Sesser. III., was found dead today with bullet wound in hs the wound In his head. The body was in an automobile In cartridge exploded. was found In the automobile The bank closed several days ago and DOE 13 in the hands of state bank examiner. No announcement has been made about the condition the closed bank

5. December 15, 1930 Kenosha News Kenosha, WI
Article from Kenosha News, December 15, 1930

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Cashier of Closed Bank Found Dead Illinois Banker Found With Bullet Wound in Head, Revolver Near Him in Car Benton, III.-(U.P)-Don Lionberger, cashier of the closed First National bank of Sesser, III., was found dead today with a bullet wound in his head. The body was in an automobile in the garage at his home and a revolver, cartridge exploded, was found in the automobile. The bank closed several days ago and now is in the hands of a state bank examiner. No announcement has been made about the condition of the closed bank. Lionberger was 50 years old. leadership of Senator Robinson, to demand that the Senate insist upon Robinson's amendment taking away the power of President Hoover to spend the fund as he saw fit in an emergency. The tentative agreement of the Senate and House conferees, reached at informal meeting Saturday before their appointment, provided for the elimination of the Robinson amendment After a long wrangle, Chairman Jones, of the appropriations committee, promised not to agree to the informal report on the emergency bill drafted Saturday without again bringing the Senate amendments to the Senate.

6. December 16, 1930 Appeal-Democrat Marysville, CA
Article from Appeal-Democrat, December 16, 1930

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Cashier of Closed Bank Ends Life III., Dec. 16, Don Lionberger, 50, casher of the closed First National Bank of Sesser, III., was found dead yesterday bullet wound in his head. The body was in an automobile in the garage at his home and revolver, one cartridge exploded, found in the automobile.

7. April 13, 1931 Waukegan News-Sun Waukegan, IL
Article from Waukegan News-Sun, April 13, 1931

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STOCKS UPWARD BUT THE NEW TREND IS VAGUE Stocks Adams Bearish Efforts Cause Some Al Drops But General Selling Allis Halts Before Slump Is Gen- Am eral; Utilities Better. CLAUDE JAGGER, Am Associated Press Financial Editor YORK, Apr. Stock Market began the new week today with upward flutter. Am Bearish efforts caused some cession during early trading. but failed to impell important ing. and the reflected short and Utilities Tel covering. Tobacco's the advance. Trad- Am were leaders remained listless, however, and professional traders moved Arm tiously. "B" Assd American Tobacco rose about Atch points within the neighborIts 1930 high. Allied Chem Auburn leal rallied as much. issues Avia 2 points included American Water Works, Power and Baldwin Eastman, Case and Keesport. Auburn several new high Bendix points, since Radio feature the rising numer- Borden nearly points. There point The ous failed participate. Budd Vanadium was bear target during Burr the first hour, when was pushed Byers down points. failed rebound notably when the list turned upward. Strength American Tobacco accompanied unconfirmed Canad rumors an in wholesale prices, sequel the Caterpil cigaret recent ending of the so-called price Cerro tobacco store Checker cutting war chains. The Rail shares stiffened little, although Southern Railway sagged Chi another new low for the past seven years. remained about Childs Credit conditions Chrysler steady. with call money per Col cent, both officially and in the out Colum side market. FOREIGN EXCHANGES NEW YORK, Foreign exchanges irregular, Great in others cents. Britain Britain 4.85 11-16; France 3.91 1-16; Italy 5.23 1-8; Belgium 3-4: Germany 23.79 1/2: Holland Norway Sweden Denmark Switzerland Spain Por tugal Greece 7-16: Austria Tokyo 49.33; Montreal 5-16. DELAY BANK REOPENING BENTON, April 13. Hope for the early reopening the First National Bank of Sesser, which closed its doors last toreceived setback when was announced for the reopening not satisfactory the comptroller few days after the closing of the the cashier, committed suicide. LIVESTOCK ESTIMATES estimated cattle 6,000; hogs 20,000; sheep SILVER NEW YORK, April silver SUGAR NEW April Raw sugar 3.35; refined

8. September 17, 1931 The Tuscola Journal Tuscola, IL
Article from The Tuscola Journal, September 17, 1931

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ILLINOIS News Notes born Seven hundred employees Burlington shops returned to work. have been shut down for The shops weeks. Very Reverend Gerald Bergan, Four of Peoria diocese and has rector of St. Mary's been made monsignor by Pope Plus XI. year farmer of McLeansCal boro, filed voluntary petition in bank. ruptey in Federal District court. He listed liabilities of $703,476 and assets of $10,220. Henry Clark, and Mrs. eighty-six, brother and Henry Bucy, sister, died within of each To other, Mr. Clark at Canton and Mrs. Cora Bucy at Astoria. Mrs. Margaret Wujastyk, who for matron of some time served as police has been appointed policeHarvey, woman with an office in the new Harcity hall. Aden J. Pippit, sixty-two, East St. was Louis Boy Scout commissioner and director of the manual training center in Monroe school, died from sudden heart attack. Arthur J. Biehl, thirty-one, farmin St. Clair park lake was drowned and where he and two comnear Belleville wading in three feet panions had been water. An inquest for Ray Chapman, fiftyCreek who two, of Lake brought to doctor's died while being found that he had office in Marion. swallowed polson with suicidal Intent. Federal prohibition agents reported they had seized seven stills in southwhich were set up to manIllinois Mr. outlet for the ufacture brandy as an Peach mash was abundant peach crop. seized. Mrs. Rose Selbert, twenty-six, of electrocuted when she was from socket. pulled radio plug blazing at the The instrument was time, and is believed to have been set afire by lightning. The peach season closed in Union movement of more with the county than 1,800 carloads of the fruit at abnormally low prices. The crop brought $600,000. The average price almost bushel was 65 cents. per removed part of An operation safety pin Margaret Olin, fifteen, of Princeton swallowed a year ago. A removed another second operation piece coughing spell released the girl is recovering. third plece and Dalton T. Moore, sixty-four, veteran editor of the man and newspaper died until two years ago, Olney Times survived by widDanville. He is at Dr. Jean ow and one Mrs. Eunice and daughter, ville, East St. Louis. Noots, Derrick, Kane county William H. died In Gefor 65 years, court He was said to neva at have been the oldest court official in cast his first He the United Abraham Lincoln vote for Presidential His widow the age of thirty-one. at survives Jones of CarrollJudge Norman to the Illinois Supreme was elected ton majority of approximately court by succeed the late 20,000. He will of who reliam M. Farmer because of health signed last spring In the special elecand died recently. in the Second to fill the vacancy tion 21 counties in district, which of the state. Judge the southern part nominee, dethe feated his young opponent. Harold Williams, in 19 counties. years Fred Pondexter, convict serving years negro shot and in was for murder twice after wounded at the old state him from taking The guards confinement to place In solitary cell knife and Pondexter pulled when tower guard, slashed at his in the left shot him 100 yards hand. Pondexter and left sent hip to prison in August of 1928. Delegates to the Illinois state Amerin Peorla Legion convention that proposing adopted the question be put to soon as posnational referendum closed by The convention was Carmi, election of Ivan the succeeding as Chicago James Ringling. Chicago, was electand the senior junior vice five named George Sullivan, CarJohn East Harold Rev. and selected for the 1932 was chosen was and returned Freeport charges killing latter resisted as who has been acting National bank for the been transferred has where be Ohio, the National of receiver of of has National bank First the Sesser named received the closed

9. October 28, 1932 The Des Moines Register Des Moines, IA
Article from The Des Moines Register, October 28, 1932

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DRAKE GREETS ALUMNI TODAY Grinnell Game Climax of Homecoming. Drake university sorority and fraternity houses took on gala years. appearance Thursday night in He termed President Hoover preparation for the school's an"master of saying the president had "met and con- nual homecoming celebration, quered great emergencies in the which begins this morning. war, in the reconstruction period, The fraternities and sororities, in flood and in famine, and now by agreement, did not begin the in the depression." decoration of their houses until "Saved Financial Crisis." Thursday. All decorations President Hoover, he declared, were to be in place by dawn. saved financial crisis in this country and in Germany, and set in motion counter attack on the economic problem that would have forward much sooner the Democratic house had not delayed Colonel Solbert quoted figures to show, he said, that American people bought or consumed 991 per cent of the beef and veal, 961 per cent of the pork, per cent the oats, per cent of the corn, and 85 per cent of the wheat produced in 1930. "Further Unemployment." "Any reduction in the tariff, proposed by Governor Roosevelt, will reduce the price of farm produets. Big leaders of industry say that reduction of the tariff will mean further unemployment," he declared. vote for Hoover means continuance of "a tried leadership, successful reconstruction, tariff of protection for the farmer and wage earner, and maintenance of the American standard of living," Colonel Solbert concluded. Field Speaks. Henry Field, Republican candidate for senator, attended the rally and spoke briefly. proud of the kind of Republicanism that you people represent," Field said. Field declared that when he went to Washington that he would the of the Resupport principles "which Colonel publican party, Solbert so ably outlined to you.' Pearson for Turner. Dr. Alfred Pearson of Drake university, speaking in behalf of Turner, declared "he Governor (Turner) is plain, simple, straightforward man of the com-, mon people. He gives his time and energy to the office, putting he has into his work. everything It's not wise to change leadership in these times "Proof that Governor Turner regarded in his home counhighly ty of Adams is shown by the fact that he received 96 per cent of the vote in his county in the governor's race in 1930," he said 400 Attend. Fred E. Hade of Fort Dodge, president the New Hoover Farmers club, said his organization "trying to find out how strong Mr. and that 000 pledge cards had been received farmers in the last from Iowa week. The principal speaker of the rally, Daniel Anderson, assistant United States district attorney of Chicago, III., was unable to attend. Eskil Carlson, president the John Ericsson of Iowa Approximately 400 presided. sons attended. Blue and White. Drake colors of blue and white, the Grinnell college colors of red and black, and the national red, white and blue colors cover the university campus. These decorain charge of "Buck" Freeman, were in place Thursday, on all buildings. The Des Moines Railway Co. provided flags for the decorating University ave. between Twenty-fifth and streets. Game Is Climax. Alumni returning to the campus this morning face busy day entertainment arranged in their honor. Beginning with chapel exercises at 10 the day's festivities climax with the DrakeGrinnell night football game. Dr. W. Morehouse, university president, will open the homecoming Stunt Circus. At m. the fraternities will conduct stunt circus in the university auditorium, charge of Harlan Lawson. loving cup offered for the best stunt. Fraternities and sororities will greet returning with special luncheons at noon. House decorations then will be judged. Soccer Game, Tea. Law and Bible students will meet in soccer game on the east campus at m., following which Dr. and Mrs. Morehouse will hold open house for alumni from until m. tea dance for alumni and students will be held at Younker's tearoom from 3 until for the best circus stunt, cup and cups for each of the best decorated fraternity sorority houses will be awarded there. Pep Meeting. On the west campus barbecue, bonfire and meeting will pep held from until m. George Henning will be chef and Jennet Jones the hostess of the barbecue. Carlton Gladder will have charge of the bonfire. Coach E. O. Williams and the honor club will hold open house in the clubrooms of the fieldhouse following the game. Byron Guessford, junior law student, is homecoming committee chairman. Bank Receiver Injured. BENTON, ILL. (A)-John Horton of Minneapolis, receiver for the First National banks at Benton, Christopher and Sesser, was injured in an automobile accident near Lenzburg Thursday. Hazel Brown will give you detailed description of new and dishes in The cuts Des Moines Sunday Register.