Farmers State Bank (Burgess, IL)

Episode Information

Episode UID
70173171627
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7017317 routing
Routing Number
70-1731
Start Date
July 24, 1935
Location
Burgess, Illinois (41.127, -90.642)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
87772995f16d8a0b

Response Measures

None

Events (2)
1. July 24, 1935 Receivership
Newspaper Excerpt
Payment of a 5 per cent dividend to depositors of the closed Farmers State bank of Burgess has been authorized by court order.
Source
newspapers
2. September 11, 1935 Other
Newspaper Excerpt
Receivership offices for 11 closed Mercer county banks are being transferred from Aledo to Moline... The receivership offices will be combined... including Farmers State bank of Burgess.
Source
newspapers

Newspaper Articles (2)
1. July 24, 1935 The Rock Island Argus Rock Island, IL

Article Text

BURGESS BANK DIVIDEND TO BE PAID THIS WEEK Depositors to Receive $3,655.94; Payment to Raise Total to 49 Per Cent. Aledo, Ill., July 24.—(By Argus News Service)—Payment of a 5 per cent dividend to depositors of the closed Farmers State bank of Burgess has been authorized by court order. Checks to 209 depositors are expected to be ready for distribution this week, according to William L. O'Connell, receiver. The dividend will be paid from the general fund and the stock assessment fund collections, with 3 per cent from the general liquidation of assets. The stock assessment fund was collected by H. R. Morgan, receiver for the fund, who also served as bank receiver before the merger of the closed banks under one receiver. Total deposits of the bank were $73,119.98. The 5 per cent dividend will amount to $3,655.94. Its payment will bring the total paid since the closing of the bank to 49 per cent.

2. September 11, 1935 The Rock Island Argus Rock Island, IL

Article Text

ALEDO WORK OF BANK RECEIVER TO BE SHIFTED Offices for 11 Closed Mercer Institutions Will Be Moved to Moline. Receivership offices for 11 closed Mercer county banks are being transferred from Aledo to Moline, J. M. Connors, deputy receiver in charge of Rock Island and Mercer counties, announced today. The receivership offices will be combined with those of Rock Island county in the Fifth Avenue bank building, 1611 Fifth avenue, Moline, Mr. Connors announced in behalf of William L. O'Connell, receiver for all closed Illinois state banks. The bank receiverships in Mercer are those of Aledo State bank of Aledo, Farmers State bank of Burgess, Citizens State bank of Keithsburg, Matherville State bank of Matherville, State Bank of New Boston, Bank of New Windsor, Farmers State bank of Windsor, Farmers Bank of North Henderson, Farmers State bank of Preemption, Preemption State bank of Preemption, Farmers State bank of Reynolds. Mr. Connors said consolidation will make possible considerable reduction of personnel and thus result in savings in the administration of the receiverships. The Mercer county banks have been under the jurisdiction of Mr. Connors for some time, making necessary numerous trips to Aledo which will be eliminated by the new arrangement. Elmer Smith and G. S. Greer, who have been in charge of the Aledo office, will be transferred to Moline and other employes of the Aledo office will be dismissed, it was said.