gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a096674877a50217
Response Measures
Accommodated withdrawals, Borrowed from banks or large institutions, Fed/other loan, Public signal of financial health, Capital injected, Full suspension, Books examined
Receivership Details
Date receivership started
1929-10-18
OCC cause of failure
Other
Description
Bank closed voluntarily Oct 18 to protect depositors; receiver appointed Nov; reopening recommended and planned by early 1930.
Events (9)
1.November 11, 1907Chartered
Source
historical_nic
2.October 18, 1929Receivership
Source
historical_nic
3.October 18, 1929Run
Cause
Local Banks
Cause Details
Run triggered by failure of the Colegrove State Bank and runs on its correspondent/state banks in the county, sparking withdrawals from Taylorville banks.
Measures
Directors closed the bank voluntarily to protect depositors; Federal Reserve sent cash by airplane to Farmers' National to stem withdrawals.
Newspaper Excerpt
the directors of the two banks felt would eventually threaten the safety of their depositors if they continued to remain open and they closed their doors this morning until this chaotic situation can be cleared up.
Source
newspapers
4.October 18, 1929Suspension
Cause Details
Voluntary suspension/temporary closing by officers/directors to check heavy withdrawals and protect depositors during the panic.
Newspaper Excerpt
the Taylorville National Bank closed voluntarily by its officers on Oct. 18
Source
newspapers
5.November 4, 1929Receivership
Newspaper Excerpt
M. E. Jensen ... was appointed receiver for the First National Bank of Taylorville and the Taylorville National bank. He checked in Monday afternoon and preparing to assume duties in connection with the two banks closed two weeks ago.
Source
newspapers
6.February 1, 1930Reopening
Newspaper Excerpt
Recommendation that the Taylorville National bank, closed voluntarily by its officers Oct. 18, be re-opened ... It is believed that the bank will be open for business again by the end of the month.
Source
newspapers
7.February 3, 1930Restored To Solvency
Source
historical_nic
8.December 16, 1931Voluntary Liquidation
Source
historical_nic
9.March 19, 1934Receivership
Source
historical_nic
Newspaper Articles (19)
1.October 18, 1929Decatur HeraldDecatur, IL
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Article Text
Plane Breaks on Taylorville Bank
Farmers' National Remains Open After Two Other Banks in City Close to Protect DepositorsPlans for Reorganization
Staff Representative) Oct. financial passed safely early afternoon. THEATERS SOLD An airplane dropped down near Taylorville with supply money for the Farmer's FOX Bank of Taylorville, ample meet demands of depositors. other banks in the town closed. Friday morning The Oct. National Bank of Taylorville and theaters the Frascini chain the Taylorville National Bank closed erating throughout Central Illinois, their doors in an attempt to check the Fox Film Co. was completed run which had developed following Friday morning. The purchase closing of Colegrove State said to have been $700,000. bank in Taylorville week ago. Either directly or indirectly The Turner State Bank of Edin- inick Frascini, burgh also failed to open Friday the following theaters which are morning making total of six banks cluded the sale: Mattoon, Christian county which have clos- leston, within the past Pana, Decision close the two Taylorville banks was reached special meeting the boards directors WATER HITS the two institutions Thursday The condition of the banks believed to be sound. One Bank Operating Friday only one bank in the Farmers' National, operating. Flagship for President HoovAdams, president of the Farmers' National, said that his bank Proposed Visit Is ample reserves of cash on hand would meet all withdrawals Stranded
Crisis Brought
Closing of the banks Friday brought the financial situation county to crisis. Since of the John B. Colegrove Taylorville week have to open. bank closed Thursday, Oct. The following Bulpitt State bank, the Colegrove bank closed. following day the Citizen's State in Edinburg closed. Friday morning three others closed. Coal Co. Helps turn in the panic which has swept the county evident Friday. Several prominent business in made deposits the offsetting by example the effects of steady withdrawals. The Peabody Coal Co. Friday morning deposited $90,000 the State bank to protect against run from depositors. Plan Reorganization Meanwhile plans for reorganizaand possible merger of the Taylorville banks were being discussed. Little progress can be made until national bank examiners arrive. Two of national banking department expected before night. The decision of the two Taylorville national banks to close taken in Interests of the positors officials said. Many small depositors became terrified at ruand rushed to the bank withdraw their funds. check the the directors decided close the bank. Roy Johnson president of the National bank and Troy Long. president the TaylorNational bank. Dorris Shumpresident of the Turner State bank Edinburg which of Friday.
Business Slow The situation attributed present slow conditions the Christian county community. Coal mining has unsteady for period of farming conditions have not the best. factors have (Continued on Page
2.October 18, 1929The Taylorville Daily Breeze CourierTaylorville, IL
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Best Interests of Depositors Given as Reason for Closing 2 Local, and Edinburg Banks
Directors of First National, Taylorville National and Turner State Banks Decide to Close Doors to Protect Their Depositors From Heavy Runs Being Made Upon Them as a Result of the Failure of the Colegrove State Bank Last Week
A financial situation never before equalled in Christian county has been brought about by the failure of the Colegrove State Bank one week ago today. A sudden fear on the part of the depositors of the Bulpitt State Bank and the Citizens State Bank of Edinburg, correspondents of the Colegrove Bank, caused a run on these banks that necessitated the elosing of their doors. This situation alarmed the depositors of the First National and the Taylorville National Banks caus* ting a run on them yesterday that the directors of the two banks felt would eventually threaten the safety of their depositors if they continued to remain open and they closed their doors this morning until this chaotic situation can be cleared up. The directors of the banks called for the national bank examiners to come and audit their books preparatory to the complete reorganization as soon as the conditions warrant. The Farmers National Bank was the only bank in the city to remain open and a large number of their depositors drew their money from the bank today but J. A. Adams, president of the bank. stated there was no cause for worry with them as they have a sufficient amount on hand to pay off all their depositors if necessary. Oscar Nelson, state auditor, is in the city today working in connection with the affairs of the Colegrove State Bank, and he stated that the people should not get unduly excited about these conditions as they can be adjusted much more readily if the depositors will remain orderly and not get nervous. When some of the depositors of the Farmers National Bank were cheerfulty given their money this morning became reassured and put their money back into the bank. Clifford Stokes, eashier of the First National Bank, and Troy Long president of the Taylorville National bank, had no statement to make except that the lack of confidence on the part of many depositors and their withdrawal of deposits had brought on a condition that might eventually jeopardize the security of the other depositors and they deemed it best to close their doors. The directors of the Turner State Bank of Edinburg took similar action and their doors were also closed this morning and State Auditor Nelson notified.
3.October 19, 1929The Saginaw NewsSaginaw, MI
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Article Text
BRINGS BANK
Several Illinois Institutions Close, Leaving One to Stand Brunt.
(By Associated Press.)
Oct. Out of the sky yesterday dropped money bags to bring renewed faith to town and stave bank which would almost run certainly have resulted empty vaults the only bank which mained open. The drone of an airplane motor day was saved that the line of 250 depositors front of the Farmers' National bank need have no fears not getting their Almost like magic the line faded away and another redepositing money they earlier Relief rushed by airplane to the Farmers' bank by Chicago fedreserve officials soon they learned Taylorville's other three banks had been closed. Today bank examiners were scanning the books the three closed banks and banks three others nearby towns. Thus far, cially blamed for the The banks that been closed Colgrove company, State bank, Taylorville National bank and First National bank of Citizens' State bank Turner State banks, both of Edinburg: State bank of Bulpitt.
4.October 19, 1929Finger Lakes TimesGeneva, NY
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Article Text
MONEY RUN on the which Oct. made out to member the sky money syndicate sent last month bags bring faith said he did not know panic stricken town and stave off from bank which almost cerwhere he serving tainly empty tence for carrying concealed vaults the only bank which repons mained open. One official asserted that The drone of an airplane motor though Capone check was signal that day slender link potential possisaved and that the line of 250 bilities revealing the ramificapositors the Farmers tions the syndicate's operations tional Bank need have no fears of were such that, getting their money Almost would things open. like magic the line faded away and Federal authorities professed another redepossible connection positing the money they earlier had gangsters and withdrawn. the syndicate Relief rushed by airplane to last June Willard the Farmers Bank by Chicago FedElliott, president the officials they bart Trust Company of Passale, learned that Taylorville's other when Elliott after three banks had been closed. days he could not explain Today bank were scanbut described his abduning the books of the three closed "Chicago gangsters banks banks in three others in of the Unitnearby Thus "frozen States office attorney's sets' have been unofficially blamed Trenon went to Passaic today for the shutdowns investigate possibility that The banks that have been closed liott had been held in connection John Colegrove Com- with efforts force financial aid bank; the Taylorville from his bank for the smuggling National Bank and First National Bank, all of the Citizens State Bank and the TurnFire Destroys State Banks, of Edinburg. the State Bank of Bulpitt.
AIRPLANE BRINGS MONEY TO BANKS Arrival of Cash Turns Run Into Depositors' Rush Taylorville, 111., Oct. 19 (A)--Out of the sky yesterday dropped money bags to bring renewed faith to a panic stricken town and stave off a bank run which would almost certainly have resulted in empty vaults at the only bank which remained open. The drone of an airplane motor was the signal that the day was saved and that the line of 250 depositors in front of the Farmers' National bank need have no fears of not getting their money. Almost like magic the line faded away and another formed--customers redepositing the money they earlier had withdrawn. Relief was rushed by airplane to the Farmers' bank by Chicago federal reserve officials as soon as they learned that Taylorville's other three banks had been closed. Today bank examiners were scanning the books of the three closed banks and banks in three other nearby towns. Thus far, "frozen assets" have been unofficially blamed for the shutdowns. The banks that have been closed are: John B. Colegrove & Company, State Bank, the Taylorville National bank, and the First National bank. all of Taylorville; the Citizens' State bank and the Turner State banks, both of Edinburg, the State bank of Bulpitt.
6.October 19, 1929Evening StarWashington, DC
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FUNDS DROP FROM SKY TO STOP BANK RUN AS 3 OTHERS CLOSE Plane Motor's Drone Saves Day and Customers Redeposit Withdrawn Money. By the Associated Press. tomers redepositing the money they earlier had withdrawn. TAYLORVILLE, Ill., October 19.Relief was rushed by airplane to the Out of the sky yesterday dropped money Farmers' Bank by Chicago Federal Rebags to bring renewed faith to a panicserve officials as soon as they learned stricken town and stave off a bank run that Taylorville's other three banks had been closed. which would almost certainly have reToday bank examiners were scanning sulted in empty, vaults at the only bank the books of the closed banks. Thus which remained open. far, "frozen assets" have been unofficially blamed for the shutdown. The drone of an airplane motor was The banks that have been closed are: the signal that the day was saved and John B. Colegrove & Co., State Bank, that the line of 250 depositors in front the Taylorville National Bank and the of the Farmers' National Bank need First National Bank, all of Taylorville; the Citizens' State Bank and the Turhave no fears of not getting their money. Almost like magic the line ner State Bank, both of Edinburg; the faded away and another formed-cusState Bank of Bulpitt.
7.October 19, 1929The St. Louis Star and TimesSt. Louis, MO
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TAYLORVILLE MERGERS MAY BAR LOSSES IN CLOSING
Depositors Heartened by RuHalted by Airplane Remittance.
By Staff question minds this today what their prospective losses be of the closing three of the town's four banks. Miners, chants and others stood in front of the banks gazing the typed notices pasted and talking about of regaining their deposits. general opinion seems to be would be some loss depositors, but report that the Taylorville National Bank and the First National Bank merge and reopen heartened most of depositors. was pointed that similar year ago Shelby County, which adjoins Christian County, seven banks and that the banks reopened that reduced the loss of depositors to virtually Chief State Bank Examiner Nicholson, on the scene staff told reporter for The Star his investigation had not far the status of the closed Tried "Ride Out Deflation." Inability the banks collect examiner the loans were made the said that lands 1926 when land farm high that the bankers preferred out the deflation period" that followed rather than foreclose on their mortgages. just business judghe asserted. all. six Christian County banks closed They First all pany Turner Bank Edinburg. Farmers' State State The the first to This was last Friday. run started the after was rumored the wealthiest citizens of Illinois loan John Colgrove, head of the stitution. This and many other rumors were heard today wherever the reporter went. In barber hotels, the chief question much did have Deposits Total $2,900,000. The three Taylorville banks closed deposits Under Illinois, are liable for an amount twice stock. banks section of Christian County The of when Farmers' National here had died down today. $600,000, the bank open here When opened yesterday morning crowd 400 depositors rushed the doors. cried their bank books they pushed shoved line that passed the tellers' cages. Bank employes and shoutfor quiet they dealt out sheafs bank notes to the frantic deposThe was stopped in spectacular Adams, telephoned Springbank in an automobile The money rushed through and heaped in tellers' view of crowd. This, quiet them, Adams telephoned Federal officials Chicago rushed here airplane guarded by federal agents. The plane arrived hour and minutes after money was transferred guarded by deputy sheriffs policemen. the swept front the bank, guards, crowd. and their walked the building and the cages. The quiet two hours dispersed. withdrawn funds them. The Bank and this saved the The bank amount of bonds hand and borrow them. Colegrove attributed the condition bank to frozen assets. He that farm declined that the four of the Peabody Coal only one day during the because of in demand, throwing many men out work.
8.October 19, 1929Decatur HeraldDecatur, IL
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TAYLORVILLE BANK STOPPED
Reorganization Discussions Is Resumed
AIR OF CONFIDENCE
TAYLORVILLE Oct. ville abounded with signs of returning confidence Saturday following three day panic which precipitated bank run which left Taylorville with only one bank operating Withdrawals which fell off day afternoon did not resume when the Farmers National, the only bank in Taylorville remaining open, opened for business. There crowd the bank all morning but the majority of the customers depositors or men making rangements to continue until ganization of the banks in Taylorville is completed. Check Run Friday
There is still discussion of ganization plans which may result the merger the First National and Taylorville National which were stacks closed Friday to check withdrawals As yet no plan has been perfected which has received serious consideron the ation. Announcement of three stores Taylorville that they would accept checks on national bank the any city acted stabilizing influence the community. marked the beginning of return of business the stores. Friday's crisis stopped business completely plague. Arrival of shipment of money Find airplane from Chicago Friday checked the run on the Farmers tional Friday. New Rumor Squashed
Rumors of run on the First National bank in Morrisonville which started Friday around Taylorville, were denied by officials of the risonville bank. There were no usual withdrawals from the Morrisonville bank, officials said, in fact talk of run of the bank was surprise to Morrisonville residents.
Nelson Urges Calm Oscar Nelson, state bank examiner, who came here Friday to take charge of the Colgrove State bank, which closed on Thursday of last week, pointed out the futility of belief in any the rumors now afloat and urged that depositors of all banks the county remain calm and do nothing in anticipation of official action.
May Reorganize
Meanwhile, plans for reorganization and possible merger of the two Taylorville national banks was discussed. These were believed be solvent, but after the present situation generally believed that merging of their strength would be the wisest move. Oscar Nelson, state auditor, as soon as he has completed examina(Continued on Page
9.October 19, 1929Palladium-ItemRichmond, IN
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Money Is Rushed to Stop Run On Bank in Illinois
III., Oct. the sky money bags bring faith and stave bank which almost certainly resulted empty vaults only bank which mained open. drone of an airplane motor the signal that day saved and that the line of 250 positors front Farmers' tional bank need have no fears getting their Almost like magic the line faded away and another redepositing money they earlier had Relief rushed by airplane to the bank fedofficials they learned that other three banks closed. Today bank examiners were scanning books of the three closed banks banks other neartowns. have been unofficially blamed for the shutdowns. The banks closed John B. Colegrove and company, State bank, Taylorville National First bank, all of Taythe the state banks both of Edinburg, the State bank of Bulpitt.
SMALLER
Gutierrez, Madrid. quart of cow's milk in this bottle, please." that bottle too small for quart will have quart of goat's milk."
PLANE SAVES RUN ON BANK
Money Bags Dropped From Sky For The Depositors the sky yesterday dropped money bags bring renewed faith to panie stricken town and stave off bank run which woud almost certainly resulted in empty vaults at the only bank which remained open.
The drone of an airplane motor was the signal that the day was saved and that the line of 250 depositors in front of the Farmer's National bank need have no fears of not getting the'r Almost like magic the line faded away and another redepositing the money they had Relief was rushed by airplane to the Farmer's bank by Chicago Federal Reserve officials as soon they learned that Taylorsville's other three banks had been closed. Today bank examiners were scanning the books of the three closed banks three other nearby towns. Thus "frozen assets" have been unofficially blamed for the shutdowns. The banks that have been closed are: John B. Colegrove and State bank. The Taylorsville National bank. and the First National bank, all Taylorville; The Citizen's State bank and the Turner State banks both of Edinburg the State Bank of Bulpitt.
11.October 19, 1929The JournalMeriden, CT
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MONEY FALLS OUT THE CLOUDS
Panic Is Replaced By Confidence as Plane Drops Cash
Taylorville, III., Oct. of the sky dropped money bags bring renewed faith to panic stricken town and stave off bank run which would almost certainly have resuted empty vaults at the open. The drone airplane motor was the signal that the day was saved and line 250 depositors front of the Farmers' National bank need have fears not getting money. Almost like magic the line faded forme? redepositing the money they earlier had Relief rushed airplane to the Farmers' bank Chicago Federal Reserve officials they learned that other three banks had closed. Today bank examiners were scanning the books of the three closed banks and banks in three others nearby Thus "frozen have been unofficially blamed for the shutdowns. The banks that have been closed John Colegrove state bank; the Taylorville National bank, the First Natinal Taylorville; Citizens' State bank and the Turner State Banks, Edinburg, the State Bank of Bulpitt.
12.November 4, 1929Decatur HeraldDecatur, IL
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NEBRASKA MAN BANK RECEIVER
M. E. Jensen Checked in, Assumes Duties in Taylorville
Nov. Jensen, Plainview, Neb., Monday was appointed receiver for the First tional Bank of Taylorville and the Taylorville National bank. He checked in Monday afternoon and preparing to assume duties in connection with the two banks closed two weeks ago. Mrs. Jensen declined to make any statement regarding the financial condition of the two banks. Mr. Jenhas had five years' experience National bank receiver.
13.November 5, 1929Herald and ReviewDecatur, IL
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RECEIVERS OF THREE BANKS
Two Nationals and One State in Taylorville Are Taken Over
Nov. Jensen, Plainview, Neb., Monday was appointed receiver for the First tional Bank of Taylorville and the Taylorville National bank. He was checked in Monday afternoon and preparing to assume duties connection the two banks closed two weeks ago. Mr. Jensen declined to make any statement regarding the financial condition the two banks. Mr. Jenhas had five years' experience as National bank receiver. Colgrove Bank Receiver Late Monday was announced that Robert G. Early, prominent torney of Geneva, has been appointed receiver the John B. Colgrove state bank here. The Colgrove bank was closed about three weeks ago because of frozen assets. was the first of six banks in Christian county to be closed. Mr. Early is expected here Tuesday to take over management and reorganization of the bank. He has been the state banking department under State Auditor Oscar Nelson for some time.
14.January 11, 1930Decatur Evening HeraldDecatur, IL
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Receiver's 0. Expected Soon to Reopen Taylorville National Bank
(Special to The Herald)
TAYLORVILLE, Jan. Recommendation that the Taylorville National bank, closed voluntarily by its officers Oct. 18, be re-opened has been made to the state comptroller of currency by the bank's receiver, it was learned through reliable sources Open by End of Month It is believed that the bank will be open for business again the end of the month. period of ten days probably would have to elapse before the institution could be opened. should eopening be the det of the state comptroller A. when asked were true the had made such recommendation, declined to make definite statement. "Insofai as the matter is of confidential nature at present, am unable to confirm the report," he said, "but hope to be able make definite announcement to the people of Taylorville within two or three days.' Officers
Reopening of the National bank will bring joy to thousands of Taylorville people. It will put back Into circulation some $700,000 on deposit at the time the bank was closed. It also will help materially in the liquidation of the First National bank which was closed the same date. It is understood that new officers for the bank virtually have been agreed upon but their names have yet been made public,
15.January 12, 1930Decatur HeraldDecatur, IL
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Receiver's 0. K. Expected Soon to Reopen Taylorville National Bank
(Special to The Herald) TAYLORVILLE, Jan. Recommendation that the Taylorville National bank, closed voluntarily by its officers on Oct. 18, be re-opened has been made to the state comptroller of currency by che bank's receiver, it was learned through reliable sources Saturday. Open by End of Month It is believed that the bank will be open for business again by the end of the month. A period of ten days probably would have to elapse before the institution could be reopened, should reopening be the or der of the state comptroller. W. A. Cutler, receiver, when asked If It were true he had made such recommendation, declined to make a definite statement. "Insofar as the matter is of a confidential nature at present, I am unable to confirm the report," he said, "but I hope to be able to make a definite announcement to the people of Taylorville within two or three days' It is understood that new officers for the bank virtually have been rates are ralsed. More than 9,000 agreed upon but their names have residential phones escape increases. not yet been made public.
16.January 12, 1930Herald and ReviewDecatur, IL
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Receiver's 0. K. Expected Soon to Reopen Taylorville National Bank
(Special to The Herald)
TAYLORVILLE, Jan. 11 Recommendation that the Taylorville National bank, closed voluntarily by its officers on Oct. 18, be re-opened has been made to the state comptroller of currency by the bank's receiver, it was learned through reliable sources Saturday. Open by End of Month It is believed that the bank will be open for business again by the rates are raised. More than 9,000 residential phones escape Increases. end of the month. A period of ten days probably would have to elapse before the institution could be reopened, should reopening be the order of the state comptroller. W. A. Cutler, receiver, when asked if it were true he had made such recommendation, declined to make a definite statement. "Insofar as the matter is of a confidential nature at present, I am unable to confirm the report," he said, "but I hope to be able to make a definite announcement to the people of Taylorville within two or three days." It is understood that new officers for the bank virtually have been agreed upon but their names have not yet been made public.
17.January 13, 1930JG-TC: Journal Gazette and Times-CourierMattoon, IL
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BANK TO BE REOPENED
Taylorville, Jan. dation that Taylorville National Bank, closed voluntarily by its officers October 18, be has been on made to the state comptroller of currency the bank's receiver, learned through reliable sources Saturday. believed that the bank will for business again by the end open the month.
18.January 13, 1930The Taylorville Daily Breeze CourierTaylorville, IL
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ANOTHER BANK FOR TAYLORVILLE
The definite announcement that the Taylorville National bank is soon to reopen its doors comes as great news to the people of this community. It has been known from the time this bank closed last October that the directors' motive in closing the bank was to protect the depositors from a possible run on the bank that was inevitable because of the failure of other banks to withstand the runs upon them. This bank could not have withstood a run because it carried at that time a large number of loans that it could not immediately turn into cash and there would not have been enough available cash to pay all the depositors that would probably have withdrawn their funds. Few people in the community realize the task the stockholders have had in reorganizing the affairs of this bank in a manner that will be agreeable to the national department of banking.. Before the comptroller of currency will allow an institution of this kind to reopen be must know beyond ail reasonable doubt that it is financially sound enough to operate with absolute safety to all depositors and any notes that the department considers doubtful are removed from the bank's and the loss absorbed by the stockholders through an assess-
19.February 1, 1930Herald and ReviewDecatur, IL
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Taylorville to Reopen
(Special The Herald) Feb. October 18 in the Christian county bank the Taylorville National panic, bank with officers Monday, Cutler, bank exampresident, will Troy Long, of the bank but holds be Shrout formerly president county will head list of urer, Aull, former the Kincaid Trust and Savings Other company Den. Senator bach, Hay, District Walter Provine. ney announced bank's his from Washingopening on submitted the bank's ton, where he bank officials. books to national of the bank The junior personnel will remain the
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