State Savings Loan & Trust Company (Quincy, IL)

Episode Information

Episode UID
70005071571
Episode Type
Run → Suspension → Closure
Bank Type
trust
Bank ID
7000507 routing
Routing Number
70-0050
Start Date
November 15, 1930
Location
Quincy, Illinois (39.936, -91.410)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e04e61e28086a8cb

Response Measures

None

Description

Multiple stories link a heavy run to the failure of the Quincy-Ricker National and state examiners taking charge; no clear report of reopening.

Events (3)
1. November 15, 1930 Run
Cause
Local Banks
Cause Details
Run followed the failure of the Quincy-Ricker National bank and runs on other local banks; community nervousness and long withdrawal lines.
Measures
Banks agreed to remain closed that night; depositors urged to make essential withdrawals only.
Newspaper Excerpt
after weathering a heavy run of withdrawals
Source
newspapers
2. November 15, 1930 Suspension
Cause
Government Action
Cause Details
Bank examiners took charge and the State Savings Loan & Trust Company and affiliated branches were closed.
Newspaper Excerpt
Three Quincy banks were in the hands of bank examiners tonight
Source
newspapers
3. * Other
Newspaper Excerpt
The State Savings Loan and Trust company had $6,216,000 deposits when its last statement was issued, and $1,000,000 capital.
Source
newspapers

Newspaper Articles (16)
1. November 16, 1930 Medford Mail Tribune Medford, OR
Article from Medford Mail Tribune, November 16, 1930

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3 ILLINOIS BANKS FORCED TO CLOSE QUINCY. III., Nov. 15. (AP) Three Quincy banks were in the hands of bank examiners tonight, two affiliated institutions in small towns of Illinois and Missouri were closed and the remaining banking institutions of this city after weathering a heavy run of withdrawals, remained open for the usual Saturday evening business and announced they would do business as usual next week. The community was in highly state, evidenced by long lines of customers waiting at windows to withdraw funds. J. W. Gardner, president of the State Savings Loan and Trust company, blamed the situation on the shrinkage of farm land values. The overnight closing of his bank, oldest in this part of the state, brought the situation to crisis and was followed by the closing of branch bank here and one in Payson, III., 15 miles away. said today that nothing of approximately 840,000 securities deposited by the Bank of Tennessee September 25 at the demind of superintendents of banks. were found among the bank's assets when it went into receivership Nov. 10. NEW YORK. Nov. 15.-(P)Trailed through rain and fog. the open sea dory Patricia was captured by a coast guard patrol in Gravesend bay early today with its crew of three and 500 bags of bottled Houor valued by federal agents at $25,000.

2. November 16, 1930 The Springfield Daily Republican Springfield, MA
Article from The Springfield Daily Republican, November 16, 1930

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Article Text

QUINCY (ILL.) BANKS FIGHTING DISASTER Three City and Two Outside Institutions Closed and Remaining Houses Weathering Heavy Runs Quincy, Ill., Nov. 15-(AP)-Three Quincy banks were in the hands of bank tonight, two affiliated institutions in small towns of Illinois and Missouri were closed and the remaining banking institutions of this city, after weathering heavy run of withdrawals, remained open for the usual evening business and announced they would do business as usual next week. The community was in a highly nervous state, evidenced by long lines of customers waiting at windows to withdraw funds. A group of leading citizens. however, gave in a signed statement appearing in the Herald Whig and that the remaining banks would continue to serve the public. Farm Value Shrinkage Blamed Depositors were urged to make eustomary and essential withdrawals without Gardner, president of the State Savings Loan and Trust pany. blamed the situation on the shrinkage of farm land values. The overnight closing of his bank. oldest in this part of the state, brought the situation to crisis and was by the closing of branch bank here and one in III., 15 miles away. On Thursday state bank in Green City, Mo., correspondent the failed QuincyRicker national banks, closed its doors. The succession of shutdowns started a week ago, when the QuincyRicker National bank, only national bank in the city, failed.

3. November 16, 1930 Evening Star Washington, DC
Article from Evening Star, November 16, 1930

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# BANK RUNS FORCE # HOUSES TO CLOSE Three Quincy Institutions and Two Branches in Hands of Examiners. By the Associated Press. QUINCY, Ill., November 15.-Three Quincy banks were in the hands of bank examiners tonight, two affiliated institutions in small towns of Illinois and Missouri were closed and the re- maining banking institutions of this city shut their doors without accommodating the usual Saturday evening business, after weathering a heavy run of with- drawals through the day. The community was in a highly ner- vous state, evidenced by long lines of customers waiting at windows to with- draw funds. A group of leading citi- zens, however, gave assurance in a signed statement appearing in the aft- ernoon Herald, Whig and Journal that the remaining banks would continue to serve the public. Depositors were urged to make their customary deposits and essential with- drawals without hysteria. J W. Gardner, president of the State Savings Loan & Trust Co., blamed the situation on the shrinkage of farm land

4. November 16, 1930 Jacksonville Journal Courier Jacksonville, IL
Article from Jacksonville Journal Courier, November 16, 1930

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THREE BANKS IN QUINCY FORCED TO CLOSE DOORS BANK EXAMINERS TAKE CHARGE OF Two Affiliated Banks Outside of City are Affected Ill., Nov. Quincy banks in the hands examiners tonight and two filated in towns Illinois Missouri were closed. The banking after weathering heavy run remained open for the usual Saturday evening they would business usual week The was highly state, by long waiting withdraw funds. of leading signed statement in the Herald Whig and Journal that the banks would continue the Depositors were urged to make their customary deposits and hysteria. Blame Land Shrinkage president of the State Savings and Trust blamed the situation the shrinkage farm land values. closing his bank, oldest this part the brought the to crisis and followed by the closing branch bank here and one Payson, miles away and of Novemstate bank in Green City, correspondent QuincyRicker National closed doors succession started week when the institution. only national bank in the closed. The State Savings Loan and Trust company had deposits when statement The South State bank and the Payson State Savings bank branches, closed during the run started the Broadbranch, but weathered slaught noon there normal. Throughout the (Continued on Page Ten)

5. November 16, 1930 The Tampa Tribune Tampa, FL
Article from The Tampa Tribune, November 16, 1930

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Three Banks Close At Quincy, III., Others Weather Run Three Quincy banks were in the hands of bank examiners tonight, two affiliated institutions in small towns of Illinois and Missouri were closed and the remaining banking institutions of this city, after weathering a heavy run of withdrawals, remained open for the usual Saturday evening business and announced they would do business next week. A group of leading citizens here gave assurance in statement appearing in the afternoon Herald Whig and Journal that the remaining banks would continue to serve the public. J. W. Gardner, president the State Savings, Loan & Trust company, blamed the situation on the shrinkage of farm land values. The overnight closing of his bank, oldest in this part the state, was followed by the closing of branch bank here and one in Payson, Ill., 15 miles away On Nov. 3 state bank in Green City, Mo., correspondent of the failed Quincy-Ricker National bank, closed. The succession of shutdowns started week ago when the Quincy-Ricker institution only national bank in the city, failed. The State Savings, Loan, & Trust company had $6,216,000 deposits when its last statement was issued, and $1,000,000 capital. The South Side State Savings bank and the Payson State Savings bank at Payson, branches, closed during the morning A run was started on the Broadway State Savings bank, another branch, but it weathered the onslaught and by noon conditions here were normal.

6. November 16, 1930 The Capital Times Madison, WI
Article from The Capital Times, November 16, 1930

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Quincy, III., Banks Are Closed Runs by QUINCY, Quincy banks the hands bank aminers today and two affiliated institutions small towns Illinois and Missouri were closed. The remaining banking institutions of this city, after weathering heavy run remained open usual Saturday evening business and announced they would do business usual next week. The community highly nervous state, evidenced long lines of customers waiting windows to funds. group of leading citizens, however, assurance signed statement appearing in the afternoon Herald Whig and Journal, that banks would continue serve the public. Depositors were urged to make their customary deposits and essential withdrawals without hysteria. Gardner, president of the State Savings Loan and Trust Co., blamed the situation on the shrinkage of farm land

7. November 16, 1930 St. Louis Globe-Democrat St. Louis, MO
Article from St. Louis Globe-Democrat, November 16, 1930

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Three Quincy Banks Closed After Run Following Failure Institutions Keep Weathering All By Associated Press. QUINCY, November Three Quincy banks were in the hands of bank examiners tonight, two affiliated institutions in small towns of Illinois and closed, and remaining banking institutions this city, after weathering heavy run of withdrawals, for the usuSaturday evening business and announced they would do business usual next The community in highly nervous state, evidenced by long lines customers waiting at windows to withdraw funds. group of leading citizens, however, gave signed pearing the afternoon HeraldWhig and Journal that the remaining banks would continue to serve public. Depositors were urged make their customary deposits essenwithdrawals without hysteria. W. Gardner, president of the State Savings Loan and Trust Company. blamed the situation on the shrinkage farm land values. Follows Failure. The closing his bank, oldest this part the state, brought the situation to crisis and was followed the closing of two branch banks here and in Payson, III., fifteen miles away. On Novembert state bank in Green City, Mo., correspondent of the QuincyRicker National closed its doors. The of started ago when the Quincy-Ricker institution, national bank in the city, The Loan and Trust Company had $6,216,000 deposits when last statement issued, and $1,000,000 capital. The South Side State Savings Bank and the Payson State Bank Payson, branches, closed during the morning. Run on Other Banks. run started the BroadSavings Bank, another branch but weathered the onslaught by there were normal. Throughout the day, however, long lines of depositors filed into the Mercantile Trust and Savings Bank and the Illinois State Bank, and the State Street Bank Trust in the southern part the city, to funds. latter largest bank the community. Assurances that there was danger their the nervous paid little attention. To avert further sapping their cash the banks agreed remain closed tonight. merchants this afterfor several hours and disnoon cussed methods relieving the tensity. banks shipments money from Chicago and Louis, and said they pected storm enforethe notice clause lating withdrawal of posits. Mr. Gardner's bank founded and pioneers who the original their His the closing the bank closing was decided upon only way the assets the bank. The steady both savings the closing the quick assets, Continued

8. November 16, 1930 Seminole Morning News Seminole, OK
Article from Seminole Morning News, November 16, 1930

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THREE BANKS IN TOWN CLOSED Community In Highlv Nervous State as Other Banks Of City Suffer Runs Nov Three Quincy banks were in the hands of bank examiners tonight, two affiliated institutions in small towns of Illinois and Missouri were OIL NOTES closed and the remaining banking institutions of this city after weathering a heavy run of withdrawals remained open for the homa's daily average crude oil usual Saturday evening business production in the week ended at and announced they would do busiis estimated by ness as usual next week. Tulsa World at 505,700 The community was in a highly rels, an increase of 13.500 barrels nervous state. evidenced by long over the preceding week's output The gain was attributed to in- lines of customers waiting at win creased production in the Okla dows to withdraw funds. A group homa City and greater Seminole of leading citizens. however gave assurance in signed statement apKansas' daily average output for pearing in the afternoon Herald the week is placed at 111,400 bar- Whig and Journal that the remainreis, a decline of 5,600 barrels. ing banks would continue to serve the public Empire Oil & Refining Co.'s Depositors were urged to make No. Alexander showing as new their customary deposits and essenproducer in the Asher Wanette tial withdrawals without hysteria. pool, southern Pottawatomie counJ. W. Gardner president of the ty, swabbed 123 barrels of oil on State Savings Loan and Trust Co., the last test The well in NW SW blamed the situation on the shrink SE 23-6-3, topped sand at 3,430 age of farm land values and The overnight closing of his bank. was bottomed at 441 feet. oldest in this part of the state Praitie Oil and Gas No brought the situation to a crisis and was followed by the closing of Tomlin in NE NW NW 23-6-3 branch bank here and one in Pay. Asher Wanette pool was being son. III. 15 miles away On Novem tubed for pumping The well top ped the sand at 3,558 feet. drilled ber 13. state bank in Green City 8:570 feet and plugged back to Mo. correspondent of the failed 3,566 feet getting 1.000 feet of National bank The succession of shut water in the hole The water was week when the off by ceiling downs started ago Quincy Ricker institution the only National bank in the city failed

9. November 16, 1930 Blackwell Journal-Tribune Blackwell, OK
Article from Blackwell Journal-Tribune, November 16, 1930

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Three Illinois Banks Given To Examiners Three Quincy banks in hands examiners tonight, two affiliated institutions small towns Illinois and Missouri closed remaining banking institutions this after weathering heavy run withdrawals. remained open the Saturday evening announced they would do business usual next community in highly nervous state, evidenced long customers waiting winwithdraw funds group leading citizens. however, gave assurance signed statement pearing the afternoon Herald Whig and Journal that the remainbanks would continue to serve public. Depositors were urged to make their customary deposits and withdrawals without hysteria. Gardner, president the State Savings Loan and Trust company. blamed situation the shrinkage farm land values. Owlahoma Aviation OKLAHOMA Nov Stinson. famous aviator head Detroit Aircraft company which bears his name, on his arrival here today on survey of aviation prospects from Detroit the Gulf of Mexico. said Oklahoma undoubtedly the second largest aviation activity in the Unitted States." Texan Ends Life Texas, Nov. Former Judge Covey Thomas, unsuccessful candidate for chief justice the supreme court Texas last summer one of the best attorneys ranch southwest shot himself here this afternoon.

10. November 16, 1930 Evening star Washington, DC
Article from Evening star, November 16, 1930

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BANK RUNS FORCE HOUSES TO CLOSE Three Quincy Institutions and Two Branches in Hands of Examiners. By the Associated Press. Quincy banks were in the hands bank examiners tonight, two affiliated institutions in small towns of Illinois and Missouri vere closed and the remaining banking institutions of this city shut their doors without the usual Saturday evening business, after weathering run of withdrawals through the day. The community was in highly nervous state, evidenced by long lines of customers waiting at windows to withdraw funds A group of leading citizens. however. gave assurance in signed statement in the aftern on Herald, Whig and Journal that the remaining banks would continue to serve the public. Depositors were urged to make their customary deposits and essential withdrawals without hysteria. W Gardner, president of the State Savings Loan & Trust Co., blamed the situation on the shrinkage of farm land

11. November 16, 1930 The Daily Illini Urbana, IL
Article from The Daily Illini, November 16, 1930

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CLOSE AFTER Houses in Hands of aminers as Nervous Throngs withdraw Deposits QUINCY, Nov. Three Quincy banks were in the hands bank examiners tonight, two affiliated institutions in small towns of Illinois and Missouri were closed, and the remaining banking institutions this city shut their doors without the usual Saturday evening business after heavy run of withdrawals throughout the day. Community Nervous The community was in highly nervous state, evidenced by long lines of customers waiting at windows to withdraw funds. group of leading citizens gave assurance in signed statement appearing the afternoon Herald Whig and Journal that the remaining banks would continue serve the public. Depositors were urged to make their customary deposits and essential withdrawals without hysteria. W. Gardner, president of the State Savings Loan and Trust company, blames the situation the shrinkage of farm land values. Oldest Bank in Section The overnight closing of his bank, oldest in this part of the state, was followed by the closing of branch banks and in Payson, away, and state bank in Green City, Mo. The succession of shutdowns started in the failure of the National bank, only national bank in the city. The State Savings Loan and Trust had $6,216,000 deposits company when last statement was issued, and $1,000,000 capital. The South Side State bank and the Payson State Savings bank at Payson, closed during the morning.

12. November 16, 1930 Omaha World-Herald Omaha, NE
Article from Omaha World-Herald, November 16, 1930

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Banks at Quincy Weather Runs After Closings Quincy, III., Nov. 15 (P)-Three Quincy banks were in the hands of bank examiners tonight and two affiliated institutions in small towns of Illinois and Missouri were closed. The remaining banking institutions of this city after weathering a heavy run of withdrawals, remained open for the usual Saturday evening business and announced they would do business as usual next week. The community was in highly nervous state, evidenced by long lines of customers waiting at windows to withdraw funds A group of leading citizens however gave assurance in a signed statement ap. pearing in the afternoon Herald and Journal that the remaining banks would continue to serve the public. Depositors were urged to make their customary deposits and essential withdrawals without hysteria. J. W. Gardner, president of the State Savings Loan and Trust company blamed the situation on the shrinkage of farm land values. The overnight closing of his bank, oldest in this part of the state, brought the situation to crisis and was followed by the closing of a branch bank here and one in Payson, Ill., 15 miles away.

13. November 16, 1930 The Enid Morning News Enid, OK
Article from The Enid Morning News, November 16, 1930

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THREE Others Weather Run Remain Open for Business Quincy banks were in the hands bank examiners tonight, two liated institutions in small of Illinois and Missouri were and the remaining banking tions of this city after heavy run of withdrawals, mained open for the usual day evening business and ced they would do business as next week. The community was in nervous state, evidenced lines customers waiting dows withdraw funds. leading citizens, however, assurance in signed the afternoon Herald whig Journal that the remaining would continue to serve the Depositors were urged their customary deposits and tial ithdrawals without Gardiner, president State Savings Loan and Trust pany, blamed the situation shrinkage of farm land values. The overnight closing of his oldest in this part of the brought the to crisis followed by the closing branch bank here and one 15 miles away. On ber state bank in Green correspondent the National bank doors. The succession downs started week ago when institution, the national bank in the city failed. WASHINGTON SEATTLE, Wash., Nov. Nosing out 3-to-0 victory the University of Washington afternoon, State lege closed its conference with an undefeated and record to capture the Coast conference football pionship. Kyle Maskill booted place kick from the 38-yard for the winning three points. Subscribe to the

14. November 17, 1930 The Times Shreveport, LA
Article from The Times, November 17, 1930

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ILLINOIS CITY Three Unmasked IS FRIGHTENED Youths Hold Up Memphis Store Three Banks in Hands of Ex- aminers After Runs Made by Citizens Quincy banks were in the hands of examiners Sunday night two in small towns of Missouri were closed. and the remaining banking institutions this city. after weathering beavy run of withdrawals. announced they would do business as usual this The community was in a highly nervous by long lines of at winwithdraw funds A group of ance in signed statement appearing in the afternoon Herald Whig and Journal that the remaining banks would continue to serve the public Depositors were urged to make their customary deposits and essential withdrawals without hysteria W. Gardner, president of the State Savings Loan and Trust company. blamed the situation on the sh-inkage of farm land values. unmasked white youths held six clerks and seven customers at bay in chain grocery store late Saturday night and escaped with $000 in daring hold-up which climaxed night of banditry in Memphis, during which two laundry wagon and three pedestrians lost about to robbers

15. November 17, 1930 The Belleville News-Democrat Belleville, IL
Article from The Belleville News-Democrat, November 17, 1930

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47 BANKS ARE CLOSED (Continued from Page Planters Bank Trust Company Pine Bluff, of which Banks director; the Merchants PlantBank of Helena, and seven small institutions in southeast Arkansas. The Pine Bluff bank had deposits Sept. of $2,638,790. CLOSE IN LOUISVILLE Louisville, Ky., Nov. 17. The Louisville Security Bank and the American Mutual Savings Bank, the latter and operatclosed today after the National Bank of Kentucky and the Louisville Trust Company failed to open for business. The Security bank was affiliated with the National Bank which was taken over by the Federal Comptroller of Currency. The Negro bank affiliated with the Louiswas Trust Company which the hands of the State placed The four banks combined list aggregating institutions were declared the solvent, but that necessary close them to conserve the sources and protect creditors, positors all others concerned." BANK CLOSED Louisville, 17. The National Bank Kentucky, capitalized and an filiated the Louisville Trust Company, failed to open today and the former taken over tion Bank notice posted by the Board Directors and signed by Russell Mooney, National Bank Examiner, said the National Bank was solvent but that had been closed resources for creditors." The National Bank claimed of James Brown, president of the and owner of Louisville newspapresident. The bank was ganized in 1834 the Bank Kentucky. operated numerous branches. The notice posted by Mooney bank under the direction the Comptroller of Currency. charge of Russell Mooney, National Bank Examiner. closed by order of the Board of Directors, Nov. MORE CLOSE Pine Bluff, Ark., Nov. Merchants Planters Bank and Trust Company of Pine Bluff, and smaller banking tions in southeastern Arkansas, open their doors today. The smaller institutions were: Bank of Star City, Bank of Altheimer, Bank Trust Comthe Bank Wabbaseka, First pany, State Bank of Stuttgart, Chicot Trust Company of Lake Village, and the Merchants & Planters Bank of Humphreys. HELENA BANK CLOSED Helena, Ark., Nov. 17. The Merchants Planters Bank of Helena, closed today. Officials announced they regardthe institution solvent but closing to protect depositors. TWO IN ILLINOIS Springfield, Nov. more state banks failed open their today bringing the number state banks to since Friday five. All connection with the failure of the State Savings Loan and Trust Company, Quincy, which suspended Saturday. had capitol stock of million dollars and deposits talling $6,000,000. The banks which closed today Bartlett Wallace State and the Timewell State Bank Timewell Both banks correspondents the Quincy bank. The Bartlett and Wallace State Bank, according its last report had capital stock of $50,000 and approximately $500,000 in James Moffett president and Fred cashier. The Timewell State Bank was capitalized $25,000 and had posits of approximately $150,000 Its president is Chapman. Manny cashier. Announcement of the banks' closing was made here by State AudiOscar Nelson Two Quincy Banks, said to have been affiliated with the Savings Trust and Loan Company, the financial institution Quincy, also forced to close their

16. November 17, 1930 The Indianapolis Times Indianapolis, IN
Article from The Indianapolis Times, November 17, 1930

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Four Missouri Toll JEFFERSON CITY, Mo., Nov. northeast banking closed their today direct the failure last State Savings Loan and Trust Company Quincy, Ill. the institutions had deposited their surplus funds the Illinois and were forced to close their doors to protect depositors. Hunter Wounded Ind., Virgin Cramer, near critical pital here today result wounds suffered while hunting.