5392. Woodhull State Bank (Woodhull, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 3, 1930
Location
Woodhull, Illinois (41.179, -90.316)

Metadata

Model
gpt-5-mini
Short Digest
51a49e89

Response Measures

None

Description

Articles indicate the Woodhull State Bank was closed and placed in receivership (closed April 3, 1930). No article describes a depositor run. Receiver A. S. Hamilton is handling the bank and paid dividends in 1932. Classified as suspension leading to permanent closure/receivership.

Events (3)

1. April 3, 1930 Suspension
Cause Details
Bank was closed and placed in receivership (failure leading to closure); specific trigger not described in the articles.
Newspaper Excerpt
The Woodhull State bank paid 5 per cent... The receiver is A. S. Hamilton. The bank closed April 3, 1930.
Source
newspapers
2. April 4, 1932 Receivership
Newspaper Excerpt
attorneys for Hamilton, receiver of the Woodhull State bank, filed... Filed. Friday afternoon attorneys for Hamilton, receiver of the Woodhull State bank, filed fession action against Gustus and placed notes $2,600 judgment against the appointee. (Rock Island Argus, 1932-04-04).
Source
newspapers
3. May 16, 1932 Other
Newspaper Excerpt
The Woodhull State bank paid 5 per cent, or approximately $16,000. Forty per cent had previously been paid by this bank. The receiver is A. S. Hamilton. The bank closed April 3, 1930.
Source
newspapers

Newspaper Articles (2)

Article from The Rock Island Argus, April 4, 1932

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Article Text

Of Gustus' Right to Serve (Special to The Cambridge, Ill., April Gustus, newly pointed treasurer of Henry county, will be granted bond and qualify for the work of county collector, was learned today following telephone conversation with the Chicago bonding house providing the surety. Gustus' bond were started immediately after appointment and he took the office, preparing tax notices for Reports another newspaper that Mr. Gustus would be unable to provide bond in shown by today's developments. Henry county tax notices have been balanced, placed in envelopes and will be ready mail in about week and Mr. Gustus dicated today. The notices were first prepared Feb. but could not mailed because Axel Peterformer treasurer: could not obtain bond collector because county funds tied up in closed Kewanee bank. Mr. Peterson cided to bring about tax collections resigning in the hope that his successor could immediately provide bond. Mr. Peterson's tion given to the board of ervisors meeting March and at the same session Mr. Gustus, supervisor from Lynn township, appointed Filed. Friday afternoon attorneys for Hamilton. receiver of the Woodhull State bank. filed fession action against Gustus and placed notes $2,600 judgment against the appointee. When questioned regarding the tion of the bank receiver, Mr. Gusstated that was surprised he had forgotten the case, considering only personal loan and not connected in any manner his aspiration to the county treasurer's position. According to Mr. Gustus, note was an echo the Daniel Hayes company affairs of Rock Island volved in unsatisfactory real estate transaction. The Jonathan Cook company Chicago has been auditing the county treasurer's books before they were turned over to Mr. Gus- Leonard Moore of Kewanee, wrote application for the Gusbond, stated Saturday afternoon that the new turn affairs would influence issuance of bond to Mr. Gustus. The supervisors now designate depository funds by treasurer and are responsible their safety. Thus, large risk for the bonding company has been removed and they insure practically only the honesty the treasurer. past years the bondcompany has been responsible the actions the treasurer and the depositories of the county funds.


Article from The Daily Times, May 16, 1932

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Article Text

Two Banks in Henry And Stark Counties Declare Dividends (Special) Two closed banks of Henry and Stark counties paid dividends over the week-end. The Woodhull State bank paid 5 per cent, or approximately $16,000. Forty per cent had previously been paid by this bank. The receiver is A. S. Hamilton. The bank closed April 3, 1930. second dividend of Scott, Walters & kestraw bank at Wyoming was paid. It amounted to per cent, or approximately $18,000. A per cent dividend, approximately $22,000. had been previously paid. The bank closed Jan. 30, 1931. Carl W. Peterson. former Henry county treasurer, is receiver.