5312. Peoples State Bank (Stockton, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 7, 1932
Location
Stockton, Illinois (42.350, -90.007)

Metadata

Model
gpt-5-mini
Short Digest
c77a6b91

Response Measures

None

Description

No article describes a depositor run. By Nov 7, 1932 creditors met to consider liquidation; by Jun 1, 1933 the bank is listed as in receivership with Jas. C. Fesler. This indicates the bank suspended and entered receivership (closure). Cause inferred as bank-specific insolvency from references to liquidation and receivership.

Events (2)

1. November 7, 1932 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was in poor condition leading creditors to meet to consider liquidation; insolvency/financial distress prompted suspension.
Newspaper Excerpt
A meeting of the creditors of the People's State Bank of Stockton was held ... The purpose of the meeting was to talk over the banking situation, with a view of improving conditions for the depositors and the stockholders. An effort is being made to liquidate the bank without the expense
Source
newspapers
2. June 1, 1933 Receivership
Newspaper Excerpt
Stockton. Peoples State Bank of Stockton. Receiver. Jas. C. Fesler. total fees and salary to date. for receiver. Attorney ... Louis A. Nack, of Galena, ... (listing banks in receivership).
Source
newspapers

Newspaper Articles (2)

Article from The Sentinel-Leader, November 9, 1932

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Article Text

MAY NOT HAVE A BANK RECEIVER A meeting of the creditors of the People's State Bank of Stockton was held at the Stockton opera house on Monday afternoon, Nov. 7. The purpose of the meeting was to talk over the banking situation, with a view of improving conditions for the depositors and the stockholders. An effort is being made to liquidate the bank without the expense


Article from The Thomson Review, June 1, 1933

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Article Text

Sand Burs Fos. have been Interesting figures week which light this brought to of liquidthat the procedure show to the is quite costly bank ating community; and also quite producwho have an opportive to those tunity of partaking of the same. The figures given below are taken from Saturday's issue of the Rockford Daily Journal, and give in our territory instances of banks been in receivers have where charge. State Bank. Receiver, Hanover John C. McKenzie, total fees and $750.00. Attorney to date salary Tear, Galena, receiver, Harry for fees not yet amount of attorney's decided. Leaf River State Bank Receiver, Geo. B. Banning, total fees and Attorsalary to date, D. D. Madden, for receiver, ney Rockford, amount of attorney's fees not decided. yet Lyndon First State Bank. Receiver, Glenn Craddock, total fees and salary to date $1,450.00. AtJohn A Riorfor receiver, torney dan, Morrison, total attorney's fees date, $800.00. to State Milledgeville. Shumway Bank. Receiver, W. R. Clough, total fees and salary to date, $2,554.73. Attorney for receiver, Chas. E. Stuart, Mt. Carroll, amount of attorney's fees not yet decided. Elizabeth Exchange Bank. Receiver, L. C. Lundgren, total fees and to date, $1,446.00. Attorney salary for receiver, Louis A. Nack, Galena, total attorney's fees to date $646.25. (Louis A. Nack member of the District Democratic Executive Committee, supporting Mr. Shaw's campaign). Forreston. Comm. State Bank. Receiver, H. H. Baldwin, total fees and salary to date, $350.00. Attorney for receiver. Seyster Fearer, Oregon, amount of afterney's fees not yet decided. Franklin Grove. Citizens State Bank. Receiver, U. Weyant, total fees and salary to date $3.316.07. Attorney for receiver, Geo. Dixon, Dixon, partial attorney's fees to date, $500.00. Fulton. Whiteside County State Bank. Receiver. John C. Kadyk. total fees and salary to date $6.616.48. Attorney for receiver, A. M. Blodgett, Fulton, total attorney's fees to date. $6,747.65. Morrison State Bank. Receiver, W. total fees and Chas. salary to date. $2,300.00. Attorney for receiver, W. D. Little. Morrison. total attorney's fees to date, Orangeville. State Bank of Orangeville. Receiver. Wilbur P. Cooper, total fees and salary to date. $2,672.60. Attorney for receiver. Louis H. Burreli, Freeport. amount of attorney's fees not yet decided. Polo State Bank. Receiver, W. T. total fees and salary to Schell, datefi $1,820.00. Attorney for receiver. Harry Typer. Polo. total attorney's fees to date. $732.00. Prophetstown. Citizens State Bank of Prophetstown. Receiver. Paul total fees and D. Carlson. to date, $2,100.00. for receiver. John Stager. Sterling. total attorney's fees to date. $1,180.00. Stockton. Peoples State Bank of Stockton. Receiver. Jas. C. Fesler. total fees and salary to date. for receiver. Attorney Democratic ComLouis A. Nack, of Galena,