5288. Smithshire State Bank (Smithshire, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 20, 1930
Location
Smithshire, Illinois (40.793, -90.780)

Metadata

Model
gpt-5-mini
Short Digest
826d7cdb

Response Measures

None

Description

Articles (Mar 20–21, 1930) report the Smithshire State Bank was closed by its board and examiners from the State Auditor's office were asked to take charge for examination and adjustment. No run is mentioned and no definite reopening is reported; article says the institution 'probably will be reorganized,' so I classify as suspension leading to closure/receivership.

Events (1)

1. March 20, 1930 Suspension
Cause
Government Action
Cause Details
Closed by the board of directors and examiners from the State Auditor's office asked to take charge for examination and adjustment.
Newspaper Excerpt
Smithshire State bank, Warren county, was closed today by the board of directors and examiners from the office of State Auditor Oscar Nelson have been asked to take charge of examination and adjustment.
Source
newspapers

Newspaper Articles (2)

Article from Belvidere Daily Republican, March 20, 1930

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Article Text

INQUEST ENGINEER Arlington Heights, III., Mar. 20-An inquest was opened here today into the death of Carl Kutzner. 44, killed Tuesday. night in railroad accident in which 23 persons were injured. Kutzner was engineer of a local train which crashed into the Badger State Limited after the latter had been derailed. The principal witnesses at the inquest were three Miller, of Des Plaines, and Joseph Catalba and Manuel Machnick, both of Arlington Heights. Investigators have stated that huge sewer tile being dragged across the right of way derailed the limited. The three witnesses were working on the tile. Machnick testified that in the year and half that he had been working on the sewer job, the workmen never had a train schedule. "We never knew when the trains were due, he said. "We just pulled the tile acrous the railroad tracks, hoping to get it across before the trains came." After Miller had corroborated Machnick's statement, and relative had given the customary family history, the inquest was continued until April 3 to permit a further investigation. BANK IS CLOSED Springfield, III., Mar. Smithshire State bank, Warren county, was closed today by the board of directors and examiners from the office of State Auditor Oscar Nelson have been asked to take charge of examination and adjustment. The institution probably will reorganized. was stated at the auditor's office.


Article from Belvidere Daily Republican, March 21, 1930

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Article Text

ENGINEER Arlington Mar. inquest was opened here today into the death of Carl Kutzner, killed Tuesday night in railroad accident in which 23 persons were injured. Kutzner was engineer of a local train which crashed into the Badger State Limited after the latter had been derailed. The principal witnesses at the inquest were three Miller. of Des Plaines, and Joseph Catalba and Manuel Machnick, both of Arlington Heights. Investigators have stated that huge sewer tile being dragged across the right of way derailed the limited. The three witnesses were working on the tile. Machnick testified that in the year and a half that he had been working on the sewer job, the workmen never had a train schedule. "We never knew when the trains were due," he said. "We just pulled the tile acrous the railroad tracks, hoping to get It across before the trains came." After Miller had corroborated Machnick's statement, and a relative had given the customary family history, the inquest was continued until April 3 to permit further investigation. BANK IS CLOSED Springfield, III., Mar. Smithshire State bank, Warren county. was closed today by the board of directors and examiners from the office of State Auditor Oscar Nelson have been asked to take charge of examination and adjustment. The institution probably will be reorganized. was stated at the