Leaf River State Bank - Leaf River, IL

Episode Information

Episode UID: 70141071627
Episode Type: Suspension → Closure
Bank Type: state
Bank ID: 7014107 routing
Routing Number: 70-1410
Start Date: July 23, 1935
Location: Leaf River, Illinois (42.126, -89.404)

Metadata

Model: gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest: b9d4821e48777524

Response Measures

None

Description

Receiver William L. O'Connell named; bank in liquidation paying dividends.

Events (3)

1. July 23, 1935 Other

Newspaper Excerpt: He has authorized payment of a 10% dividend ... The checks were mailed out July 23. This dividend is being paid out of funds acquired in the ordinary course of liquidation.
Source: newspapers

2. July 23, 1935 Receivership

Newspaper Excerpt: William L. O'Connell is receiver for the bank. The checks were mailed out July 23.
Source: newspapers

3. * Suspension

Cause Details: Bank had previously closed and entered liquidation with a receiver appointed.
Newspaper Excerpt: This is the fourth dividend to be paid since the bank closed, bringing the total up to 40%.
Source: newspapers

Newspaper Articles (1)

1. July 25, 1935 Tri-County Press Polo, IL

Article Text

Leaf River Bank Will Make Dividend of 10 Percent July 23 Edward J. Barrett, state auditor, today announced that he has authorized payment of a 10% dividend, amounting to $14,909.60, to the depositors of the Leaf River State Bank, Leaf River, Ill. This is the fourth dividend to be paid since the bank closed, bringing the total up to 40%. The checks were mailed out July 23. In addition to this dividend, $2,819.33 has been paid to preferred creditors and $15,000.00 has been paid on bills payable. This dividend is being paid out of funds acquired in the ordinary course of liquidation. William L. O'Connell is receiver for the bank. Mrs. Guy Gilbert spent the week end in Sterling.