Grafton State Bank - Grafton, IL

Episode Information

Episode UID: 70132571628
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 7013257 routing
Routing Number: 70-1325
Start Date: August 14, 1935
Location: Grafton, Illinois (38.970, -90.432)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: 92fd8f801ca8b3fa

Response Measures

None

Description

Article states the bank has long been in the hands of state authorities and a receiver is handling dividends.

Events (1)

1. August 14, 1935 Receivership

Newspaper Excerpt: The receiver of the Grafton state bank, which has long been in the hands of the state authorities, may give joy to the depositor creditors of the institution next week by paying a dividend.
Source: newspapers

Newspaper Articles (1)

1. August 14, 1935 Alton Evening Telegraph Alton, IL

Article Text

Grafton Bank To Pay Dividend Of 10 Percent No Announcement Made As to Time of Next Dividend of Alton Bank The receiver of the Grafton state bank, which has long been in the hands of the state authorities, may give joy to the depositor creditors of the institution next week by paying a dividend. Authority has been asked to pay a full 10 per cent dividend, but when authority to make payment does come it may be for 5 per cent or 8 per cent. The Telegraph was informed today by Schaefer O'Neill that it is hoped the dividend may be the full 10 per cent and he was also hoping that it would be possible to pay an additional 10 per cent before much longer. The bank is in the hands of the same officials as the First Trust & Savings Bank in Alton. No information was available as to when another dividend might be expected from the First Trust & Savings Bank of Alton. Reports have been abroad of an attempt to compromise some claims of the bank against some of its debtors and, if such compromises were effected, that substantial payments might be made to the creditors of the defunct Alton bank. There was no basis, the Telegraph was informed today, for any hope of any early success in making such compromises up to date. Offers for settlement made by the debtors had been too low to warrant hope of any settlement being reached.