Hopedale National Bank (Hopedale, IL)

View Charter #9398 on SPMC View balance sheet

Episode Information

Episode UID
939801594
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
93980 national
Charter Number
9398
Start Date
October 22, 1932
Location
Hopedale, Illinois (40.421, -89.415)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ca2a1f74430a9321

Response Measures

None

Receivership Details

Depositor recovery rate
99.5%
Date receivership started
1932-02-02
Date receivership terminated
1937-08-13
Share of assets assessed as good
29.8%
Share of assets assessed as doubtful
54.6%
Share of assets assessed as worthless
15.5%

Description

Receiver is explicitly referenced in October list and confirmed in December; closure appears permanent.

Events (4)
1. April 29, 1909 Chartered
Source
historical_nic
2. February 2, 1932 Receivership
Source
historical_nic
3. October 22, 1932 Suspension
Cause Details
Bank listed as in receivership in RFC loan report; specific trigger not stated in article.
Newspaper Excerpt
Hopedale, Hopedale National Bank (receiver) $18,000
Source
newspapers
4. December 2, 1932 Receivership
Newspaper Excerpt
Objections to personal property tax assessed against the Hopedale National bank have been filed ... by Ross C. Adams, receiver.
Source
newspapers

Newspaper Articles (3)
1. October 22, 1932 The Dispatch Moline, IL

Article Text

Almost Billion Dollars Sent Out into Channels of nance and Relief. Oct. billion dollars has flowed from into the channels and relief. loans authorized September alone amounting As shown today in the third port from the corporation to congress, over in vances have been made. This braces nearly to banks and trust companies and $218,railroads, and does include loans that have been paid. The report showed that the cash balance of the corporation on September During September the third series of the percent issued sold to the This brings the total amount debentures sold to the treasury which with the capital the total outto in authorized loans had not been disbursed. yet The secretary of agriculture had left with the corporation of September 30th the allocated production fund. Loans authorized during September to banks and trust companies "exclusive of amounts canceled" during the month, were listed to include the following Illinois: First National bank of Altamont, State bank, $7500; City National bank of Centralia, Chicago, Side Savings bank, Chicago, Halsted State bank, South Ashland National bank of Chicago National Bank Clayton State bank, State Bank of ColState Bank of $7000; Crossville, First National bank, $8000; DeKalb. Trust bank, First National Bank of Downers Grove (receiver), $45,000; First State Savings bank of Galena, Hopedale, Hopedale tional bank (receiver), $18,000; Ayers National bank JacksonFirst National bank Leroy (receiver), First National bank Mendota (receiv$76,000; Mendota, Mendota National bank (recelver), Mt. Carmel, National bank, First National bank of Newton, Olney, First bank, First National bank Oneida (receiver), National City bank (receiver), Secor, First National bank, Smithshire, Smithshire State bank, Other authorized during September included: (III.), Lawrenceville Loan association, Wheaton Home Building and Loan association, $8764. Nearly 175 foreign firms have taken sites or factories in England this year.

2. October 22, 1932 Dixon Evening Telegraph Dixon, IL

Article Text

ILLINOIS BANKS AIDED BY R. F. C. REPORTED TODAY Corporation's Detailed Report Is Sent To Congress Today Washington, Oct. 22 —(AP)— Almost a billion dollars has flowed from the Reconstruction Finance Corporation into the channels of finance and relief, loans authorized in September alone amounting to $137,346,000. As shown today in the third report from the corporation to the Congress, over $995,604,000 in advances have been made. This embraces nearly $544,000,000 to banks and trust companies and over $218,670,000 to railroads, and does not include loans that have been repaid. The report showed that the cash balance of the corporation on September 30 was $31,545,053. During September $25,000,000 of the third series of the $250,000,000 in 3 1-2 per cent debentures issued by the board were sold to the Treasury. This brings the total amount of debentures sold to the Treasury to $600,000,000, which with the $500,000,000 capital brings the total outlay to over $1,110,000,000. The Secretary of Agriculture had left with the corporation as of September thirteenth $35,071,000 of the allocated crop production fund. Loans authorized during September to banks and trust companies, "exclusive of amounts withdrawn or cancelled" during the month, were listed to include the following in Illinois: First National Bank of Altamont $20,000; Anchor State Bank $7,500; City National Bank of Centralia $60,000; Chicago, East Side Trust & Savings Bank $15,000; Chicago, Sixty-Third & Halsted State Savings Bank $36,500; South Ashland National Bank of Chicago (receiver) $41,000 Standard National Bank of Chicago (receiver) $62,000; Clayton, Clayton State Bank $20,000; State Bank of Collinsville $25,000; State Bank of Cordova $7,000; Crossville, First National Bank $8,000; DeKalb, DeKalb Trust & Savings Bank $35,000; First National Bank of Downers Grove (receiver) $45,000; First State & Savings Bank of Galena $20,000; Hopedale, Hopedale National Bank (receiver) $18,000; Ayers National Bank of Jacksonville $90,000; First National Bank of Leroy (receiver) $30,000; First National Bank of Mendota (receiver) $76,000; Mendota, Mendota National Bank (receiver) $139,000; Mt. Carmel, American-First National Bank $15,000; First National Bank of Newton $21,000; Olney, First National Bank $65,000; First National Bank of Oneida (receiver) $21,000; National City Bank of (Continued on Page 2)

3. December 2, 1932 The Pantagraph Bloomington, IL

Article Text

BANK RECEIVER PROTESTS TAX Court Petitioned to Lift Judgment From Hopedale National Building. Pantagraph Central Illinois Service. PEKIN.-Objections to personal sperty tax assessed against the opedale National bank have been filed in the Tazewell county court by Ross C. Adams, receiver. The bank is reported to have paid its real estate taxes, but defaulted on the personal property tax, said to amount to $980.25. The county collector, Jacob Haning. secured a judgment against the bank building to aid the collection of the personal tax. The receiver now asks that this judgment be set aside against the bank stockholders. The matter has been taken under advisement by Judge John T. Culbertson. The $5,000 bond of Nathan T. Elliff. newly elected state's attorney, has been filed in the county court and approved. The sureties are William Elliff of Mackinaw and G. W. Ballenger of Tremont. The will of Edward B. Detmers, who died at Hopedale Nov. 6. has been probated and the clerk instructed to issue letters to Elmer E. Detmers. son. The estate consists of $1,500 personal property and the heirs are three sons and a daughter. Letters testamentary were ordered issued to Mrs. Anna Parsons, widow of Charles S. Parsons, who died in Pekin Aug. 8 leaving an State of $1,800 in real estate and 100 in personal property. The heirs are the widow and one daughter. Anna. Final report has been approved in the George Branz estate and the report of the guardian of Robert E. Gardner has been filed and approved. An appeal to the county court has been taken in the case of Tazewell Plumbing company vs. Roy Nichols, the latter appealing from judgment for $143 and costs rendered in the court of Justice W. H. Williams.