Union Bank & Trust Company (Freeport, IL)

Episode Information

Episode UID
70015071604
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
7001507 routing
Routing Number
70-0150
Start Date
August 10, 1933
Location
Freeport, Illinois (42.297, -89.621)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
785c69903b9d4603

Response Measures

None

Description

Articles indicate steps toward/state receiver involvement; unclear if final reopening occurred.

Events (2)

1. August 10, 1933 Suspension
Cause
Government Action
Cause Details
State bank receiver involvement and formal moves toward receivership prompted suspension/closure proceedings.
Newspaper Excerpt
The depositorsof the Freeport Union Bank and Trust Company ... have entered formal protest against receivership.
Source
newspapers
2. August 24, 1933 Receivership
Newspaper Excerpt
depositorsof the Freeport Union Bank and Trust Company ... have entered formal protest against receivership. E. R. Shaw ... will plead in their behalf today at Springfield.
Source
newspapers

Newspaper Articles (2)

Article from The Pearl City News, August 10, 1933

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Article Text

GOES FOR PEARL CITY TOO Freeport are be ing signed by 98 percent of the Union Bank & Trust Company in Freeport Altemeir, Pearl City which H. of was cashier. State Bank receiver, The committee urges that every one sign so as to avoid receivership, which is burmethod of liquidation densome and expensive.


Article from The Pearl City News, August 24, 1933

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Article Text

LOCAL NEWS The days are warm but the nights are cool. Quality Markers and Monuments. Geo. W. Ivey & Sons, Mt. Carroll, Ill. Wm. Liebergasells and Oscar Miches, south of town, visited the Century of Progress this week. Stockton Herald- Ella Krell and son-in-law, I. G. Machamer of Freeport attended the World's Fair Sunday. Edw. Schuler, Carl Schuler and Mrs. Winnifred Shane and children took in the Worlds Fair at Chicago last Thursday. Charles Bender f Red Oak is critically ill. Mrs. Charles Bender is sister of intes and Will Liebonstein and Miss Mary Liebenstein. Miss Lucille Koertner accompaned Miss Eloise and Charles Buss to the Certury of Progress Exposition in Chicago last Saturday and lay The last of 5 trainload of tires at close-out pri es. What's left of $3.98 4.50-21, 4.69. All sizes Gam Gerald Edler son of Mr. and Mrs H Henry Edler and LaVerle Aurand son of Mr and M. Earl Aurand of Freeport recently hitch hiked to the Worlds Fair. The boys were lucky in getting rides both ways. The Lena band gave a street con cert on the North Side last evening which was greatly enjoyed. Vocal and guitar solos were ntributing factors to a well arranged program. The 4-H Club girls sold candy, popcorn and hot dogs during the evening Mrs. Ellen Finkenbinder has had the buildings on her farm repainted, also a new lawn fence and a new porch has been built on the north side of the house. Geo. Thomas did the work It makes a fine improvement to the already attractive farm home The Fred Lott family occupy the place. Bearing in their youthful active minds that vacation days are rapidly drawing to a close, Eugene and Jun ior, sons of Mr. and Mrs. Carl Block spent last week with their uncles and aunts, Mr. and Mrs. Ed Block near Florence and Mr. and Mrs. Par ker Taft near Winslow. The continued cool evenings are causing some anxiety among VI inity farmers There have been temper atures as low as 50 de grees in mid August. Indications are for an early frost. The depositorsof the Freeport Union Bank and Trust Company of which F. H. Altmeier (Pearl City Bank receiver) was cashier, have entered formal protest against receivership. E. R. Shaw, newly elected Democratic Supreme Judge will plead in their behalf today at Springfield. Couldn't Pearl City follow this same course? Liquidation could be worked out in time. Whatever value belongs in the bank belongs to the depositors. A receivers service means addedexpense and less money every day to start 8 new bank which the town SO bad'y needs. Gue enroute to St. Louis stop ped here Saturday and part of Sunday for a short stay with Mr and Mrs. Ed Tollmeier. The auto party included Mrs. Nellie Ker h and Miss Jare Kerch of Dundee and Miss Ag nes Cartier of Chicago In company with Mr. and Mrs. Tollmeier all motored to Oregon, Illinois to have Sun day dinner with the DeLorbe family, Mrs. DeLorbe being a sister of Mrs. Tollmeier and Miss Jane Kerch.