Wauconda Bank - Wauconda, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 1, 1931*
Location: Wauconda, Illinois (42.259, -88.139)

Metadata

Model: gpt-5-mini
Short Digest: 58665cf6

Response Measures

None

Description

Article (Waukegan News-Sun, 1931-12-11) states the Wauconda State Bank was closed in October by State Auditor Oscar Nelson and references the bank receiver and a stockholders' suit on behalf of depositors. No run or depositor panic is mentioned. I infer closure was government action and a receiver was appointed. OCR fragmentary; corrected phrasing where obvious.

Events (2)

1. October 1, 1931* Suspension

Cause: Government Action
Cause Details: Closed in October by State Auditor Oscar Nelson; action followed audit/examination of books
Newspaper Excerpt: Wauconda State Bank, closed on October by State Auditor Oscar Nelson after ... of books
Source: newspapers

2. December 11, 1931 Receivership

Newspaper Excerpt: stockholders suit in behalf of depositors of the Wauconda State Bank... attorneys for the Waukegan State bank receiver ... filed the bill ... past stockholders ... asked the bank receiver share stock asked The special such (article referencing the receiver and suit).
Source: newspapers

Newspaper Articles (1)

1. December 11, 1931 Waukegan News-Sun Waukegan, IL

Article from Waukegan News-Sun, December 11, 1931

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Article Text

WAUCONDA stockholders suit in behalf of depositors of the Wauconda State Bank, closed on October by State Auditor Oscar Nelson after of books, filed Circuit Clerk Wilmot Three Underwood, Edward Dobner, and Jones filed the bill through the law firm Decker and Decker, cently resigned attorneys for the Waukegan State bank receiver. The about thirty past present stockholders the banking among them Senator Paddock, who presiof the bank. Provision that each stockholder $100 the bank receiver share stock asked The special such