Article gives no specific cause; bank suspended payments and closed (under state auditor review).
Newspaper Excerpt
The state auditor's office announced today that the Crystal Lake State bank, which suspended payment and closed last week, may be permitted to reopen soon.
Source
newspapers
Newspaper Articles (1)
1.July 12, 1915The Daily Gate CityKeokuk, IA
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Article Text
Bank May Open Soon
SPRINGFIELD, III., July 12.-The state auditor's office announced today that the Crystal Lake State bank, which suspended payment and closed last week, may be permitted to reopen soon.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.