Accommodated withdrawals, Fed/other loan, Public signal of financial health, Full suspension, Books examined
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MONEY RUSHED BY PLANE HALTS ON BANK PANA (United Press) Feb. run the Pana National bank caused the closing of the Schuyler State here Wednesday, forestalled $250,000 cash was rushed the institution by plane from Federal Reserve bank of Chicago, yesterday. When the bank closed 4:00 the small run yesterday and excitement had abat- state banking officials because assets.
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Airplane Rushes Funds to Prevent Run on Bank Pana, airplane, carry. ing $200,000 from the Chicago FedReserve bank, landed here Friday afternoon and the money rushed under guard to the Pana National Bank to avert run. Sheriff and duputies the money to the bank. Parrish, president the bank, said the money was sent there after slight run on the bank.
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ARRANGE MINERS DESPITE BANK CLOSINGS Confident Depositors Fail to Make Run on Pana National PLANE BRINGS CASH PANA, Feb. nouncement Friday night that rangements had been made to meet the miners' payroll here on Feb. brought to an end what little excitement existed during the day due to the closing of the Rosamond and Nokomis State banks Friday. the Pana National bank where feared run might made during only few persons to demand their and while they drawing out funds, Pana's business men making deposits. Plane Brings Cash So certain was Parish, ident of the bank, that no could his bank closed, he did not call the Federal Reserve bank Chicago that he feared He call from however, and told that plane bearing thousand dollars had for Pana 12:10 An hour and 40 minutes later the plane roarPana, and landed in by field. Sheriff Dunbar and squad of heavily armed deputies guarded the automobile that ported the money from the plane the bank. When sibility that National bank would close its shifted back to the the H. Schuyler State bank's closing. Although Schuyler, who 86 years declared that every depositor would receive his full deposit, there others close to the bank's fairs who optimistic. One them said that efforts had been made the last weeks to straighten out the tangle, but the they able to raise did money not meet requirements. Schuyler Teaviest Owner Of the 2,000 shares stock in bank, Mr. Schuyler the owner 1,805, stockholders owning from five 30 shares. The bank's failure paralelled (Continued on Page
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Institution Suspends Business After Official Is Found Dead in Home. Pana. III., Mar. examIners scruntinized books of the Pana National Bank today result of that institutions suspending business yesterday when depositors' ced directors to call halt on The iun the alleged of John-on, second president. He was found dead In the pasement of his home here yesterday from the effects of double charge from shotgun. Johnson, cording to and bank dircehad been despondent because of health. Despite the bank's suspension rectors declare it Is in sound condition and will reopen. This is the ond run on the Pana National Bank this year. On February met mands ot depositors with the aid of several hundred thousand dollars rushed horo from Chicago by plane. The temporary closing of the Pana National Bank leaves this city without financial clearing house. The Schuylet State Bank closed last month. ten banks have been closed in this region in the last twelve months. Practically all suspensions been due to depletion of cash caused by loans on decreased farm values.
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BANK CLOSED RUN MADE BY DEPOSITORS Say It is Sound and Will Open For Business Again. March scrutinized books of Pana National bank today of that pending yesterday when run forced directors call halt on The the alleged suicide of second He was found dead the basement of home here yesterday from the effects of double charge from shotgun. his wife directors, had been desponill Despite the bank's directors in sound condition and will This the second run on the Pana National bank this year On Febmet of positors with the aid of several hundred dollars rushed here from Chicago by airplane.
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Suicide of Bank Official Cause Failure of Bank Pana. III., March national bank examiner arrived here today to begin work at once on examination the accounts, assets and condition the Pana National bank which was closed today following heavy run yesterday. brought about part by the suicide of Arnold Johnson. second vice president and one of heaviest stockholders President Parrish and Cashier John A. Werner said today they had no statement to make at this time except that the depositors simply "gutted the bank" Friday afternoon following death of Johnson. Members of Johnson's family accredited his to despondency over ill health.
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PANA, Ill., March 29, Its ready cash all but depleted by heavy withdrawals following the suicide Arnold Johnson, 55, the Pana National bank today opened its doors and trusted emergency from Chicago would arrive money in time. Johnson, second vice president, heavy stockholder, shot himself home. His suicide attributed financial troubles, but officers of the bank said his death had no connection with the institution's matters. Parris, announced urgent call for funds Chicago. He also said the bank solvent.
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Suicide Starts Run On Illinois Bank PANA, III., March 29 Its ready cash all but depleted by heavy withdrawals following suicide of Arnold Johns. 55-year-old executive, the Pana National bank today was to open its doors and trust that emergency money from Chicago will arrive in time. Johnson. heavy stockholder. shot himself through the head in the basement of his home.
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Pana Without Banking Facilities Thru Failure March first time than Pana is without banking cilities. The Pana National closed Saturday following run depositors, failed open doors. despite Saturday that there were ample funds to meet all Posted on the door of the bank today was notice "Owing to the tragic death of president, bank has been placed the hands national bank examiner for examination and number depositors appeared the bank Saturday mornand throughout the Many farmers who had not heard that the bank had closed: there and little comment.
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Depositors Strip Bank as Official Kills Pana. III., March tional bank examiner arrived here today begin work once amining of condition the Pana National bank, was closed today lowing run brought about by suicide Arnold Johnson, second vice president one of the heaviest stockholders. President D. Parrish and Cash John Werner said today they had no statement make this time except that the depositors simply the bank' Friday afternoon following the death Johnson. Members of Johnson's family credited his act to despondency over ill health.
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"Finger at Piasa This Evening "Finger Prints" three act will be this evening the City Plasa. The play be given by pupils of the Lancaster School Expression. Appoint Pana Bank Receiver PANA. April Martin of Macomb. today was appointed receiver for the Pana tional which closed its doors March 28, after heavy run the depositors brought about suicide Arnold Johnson, vicepresident.
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BANK RECEIVER NAMED PANA, ILL., April T. Martin of Macomb. III., today was appointed receiver for the Pana National Bank which closed its doors March 28, after a heavy run by the depositors brought about by the suicide of Arnold J. Johnson, vice president.
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NAME RECEIVER FOR PANA BANK Pana, III., April 4. (A.P.)-E. T. Martin of Macomb, III., today was appointed receiver for the Pana National Bank, which closed its doors March 28, after a heavy run by depositors, brought about by the suicide of Arnold J. Johnson. vice president.
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Lenninger Again Wins Model Plane Trophy John Lenninger, member of The Pantagraph Model Airplane club, the silver trophy cup again at the Friday night meeting. He not only everyone else the M. gym but bettered his last week's floor mark by seven points, making flight of 85 seconds. Ralph Leubbers made the next best record when his small plane flew 62 secSeveral af the boys tried their luck with letting them take off from the balcony of the gym. R. N. Fletcher, boys' secretary of the Y. M. C. A., was in charge. Pana Receiver Named Martin of Macomb, III., Friday was appointed receiver for the Pana National bank which closed its doors March 28, after heavy run by the about the suicide of Arnold J. Johnson, vice president.
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MAYREORGANIZE; Martin, Macomb, Appointed to Direct Affairs as Examiner Reports CUTLER FINISHES AUDIT Specia] to The Herald PANA, April Martin of Macomb Friday morning was appointed receiver for the Pana National bank, and took charge of the bank's affairs immediately. bank will be given the usual opportunity reorganize, in accordwith national bank laws," Martin told Herald representative. Cutler Finishes Audit Cutler, national bank iner, has audit, turned the bank to the receiver Friday The bank closed its doors March 28, after heavy run brought by the suicide Arnold Johnson, president, and heavy stockholder, who blew off head with shotgun. Only indication of the bank's dition which revealed was last report, dated December showed institution to have liabilities of $1,040,385.94, and assets which totaled $409 more. Expect Announcement Soon Since the National bank closed. Pana has been ithout any banking facilities; the H. Schuyler bank having closed about months after run. Business has been bolstered by Decatur and Vandalia banks. Officers the Pana National have announced they have statement make, presumably in regard reorganization, within few days. Depositors the Schuyler bank are also working out a reorganization plan.
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PANA BANK RECEIVER TO PAY DIVIDEND PANA, ILL, October 21.-Receiver A. E. Martin of the Pana National Bank tonight that he had accumulated sufficient assets for the payment of the first 25 dividend and that checks made out in form and mailed within sixty days to those who proved their claims. took charge the bank few after it suspended and taken by the troller of currency March 28 last, following a run by depositors.
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BANK RECEIVER DIVIDEND Martin the Pana National Bank announced last night that he had accumulated sufficient assets for the payment the first 25 per cent dividend to depositors, and that checks would made in due form and mailed withsixty days to those who have proved their claims. Martin took charge the bank few weeks after suspended and was taken by the over comptroller of currency March 28 last, following by depositors.