Farmers National Bank (Odell, IL)

View Charter #9624 on SPMC View balance sheet

Episode Information

Episode UID
962401517
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
96240 national
Charter Number
9624
Start Date
May 1, 1926*
Location
Odell, Illinois (41.004, -88.525)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
6167112494d6a745

Response Measures

None

Receivership Details

Depositor recovery rate
33.3%
Date receivership started
1927-09-21
Date receivership terminated
1931-07-25
OCC cause of failure
Losses
Share of assets assessed as good
22.5%
Share of assets assessed as doubtful
51.2%
Share of assets assessed as worthless
26.3%

Description

The bank was taken over by the State Bank of Odell in May 1926; subsequent litigation in 1927 involved enforcing stockholders' liabilities and appointing a receiver.

Events (4)
1. January 4, 1910 Chartered
Source
historical_nic
2. May 1, 1926* Suspension
Cause Details
The bank was reported insolvent and its assets were taken over by the State Bank of Odell.
Newspaper Excerpt
the Farmers' National bank of Odell was insolvent in May 1926
Source
newspapers
3. September 21, 1927 Receivership
Source
historical_nic
4. October 1, 1927* Receivership
Newspaper Excerpt
State Bank of Odell vs. the Farmers' National Bank of Odell, enforce stockholders' liabilities and appointment of a receiver.
Source
newspapers

Newspaper Articles (3)
1. October 5, 1927 The Times Streator, IL
Article from The Times, October 5, 1927

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Article Text

RMERS ARE IVEN EARLY PROBE REPORT National Speed Record Established By Authorities On Research. of what is believed to be new onal speed record in getting out results of experiment station E. Dirks arch and investigation. Illinois )ers today are receiving the ent annual report of H. W uford, director of the experi station, college of agriculture ersity of Illinois, only three the after the close of the fiscal covered by the report. In con es the fortieth year in the sta tober ving up to date results on 215 net investigations carried on hg the past year at the experi station. the report takes the of 288 page booklet entitled Year's Progress in Solving in Problems of Illinois. It is he year ended June 30 and was oiled and edited by F. J. Kell extension editor in the agri tral college and experiment from submitted to director by members of the Aim Criticism. the past formers have aimed 21 criticism at the agricultural rimênt stations of the country use annual reports and other ial statements of research and stigations have been issued or two of even longer after experiments were conclude hanging the style of the annual it four years ago, therefore, the bis station started a movement et out the publication promptly the close of the fiscal year for It was issued. far as can be determined no riment station In any of the states has, ever Issued an anreport so promptly after the of the year as is the case with atest Illinois report. receiver, vs. N. J. Claudon, assumpsit, Time to plead extended to October 11. People of the State of Illinois, for use of Herbert Powell as guardian, etc., vs. A. B. Claudon and N. J. Claudon, debt. Time to plead extended to October 15. Orville G. Johnson, for use of Oliver Buland, E. M. DeBolt, garnishment Time to plead ex tended to October 11. State Bank of Odell V8. the farm ers' National Bank of OdeH, en force stockholders' liabilities and appointment of a receiver. Leave to amend bill by adding M. H. Craven receiver, as party complainant. Tim to answer extendeded to October G. Y, McDowell VS. W. E. Stephey et al., relief. Demurrer to bill by defendants Elmer Odell and L. Illinois State Savings bank, as receiver for the Claudon State Bank, VS. Bessie C. Mossiman at al. enforce liabilities of directors of State bank. Motion by N. J. Claudon, Bessie C. Mossiman and E. M. Spence for extension of time to answer, Time extended to Oc- Seeks Citizenship. Elsie Karb, of Fairbury, a housekeeper filed with Circuit Clerk J. G. Whitson her petition for na turalization She was born October 19, 1880, at Oberndorf, Ger many, and came to the United States, September 24, 1903. She filed her declaration of Intention of becoming naturalized citizen of the United States in the United States District court at Peoria on Appointed Bailiff. At opening of the October term of the circuit court Circuit Judge S. R. Baker named James R. Lord as circuit court bedliff. Mr Lord replaces Eldon Shafer, who has been court bailiff for several years past and who recently resign- Judgment Secured. The Isane, Walker Hardware company, a corporation, has obtained a judgment by confession in the circuit court against Philip D. Sohn, éte, In the sum of $111.03 An immediate execution was

2. October 7, 1927 Dwight Star and Herald Dwight, IL
Article from Dwight Star and Herald, October 7, 1927

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Article Text

COURT Ernest Rentsch, of Pontiac, arrested Sunday night the Log Cabin filling station on state highway No. north this city, by Sheriff Scarratt, charged with driving an tomobile while intoxicated. The rant was issued on complaint Cannon, of Peorla. The latter leged that Rentsch, while intoxicated. drove his automobile into one driven forcing him from the highRentsch was before Justice of the Peace John Deyo Monday morning, when for days. Bond fixed $500, which furnished by Rentsch. transcript judgment secured the court Police Magistrate Louderback by Nolan against John Henkle in the sum filed in the office of circuit clerk Monday. The October term of the Livingston county circuit court convened promptly 10:30 o'clock Tuesday morning by Circuit Judge Baker. Pontiac, with Sheriff Scarratt making the declaration opening. During the forenoon the time Judge Baker occpied examining petitioners naturalizations. There were five applicants. Four were proved by the court. The petition Agnes Ruggeri, Odell, was ued until the next term court. Those their naturalization papers Anna Baer, Fairbury; Fanchi John Domenik, Ccoya, asked have his name changed John Fanchi; Elsie Karb. Fairbury; Pontiac: and CarPontiac. Among the entered by Judge Baker the Tuesday morning session of the court term the following: Harwood. replevin Time plead extended to Chicago, Burling Quincy Railroad DeBolt, assumpsit. Time plead tended to Oct. Illinois State Sav ings Bank, as Claudon, assumpsit. Time plead extend to People the State Illinois, for use Herbert Powell etc., Claudon and debt. Time plead extended Oct. Orville for use Oliver Buland, DeBolt, garnishment. Time plead extended State Bank Odell the Farmers' National Bank Odell. enforce stockholders' liabilities and appointment receiver. Leave amend bill by adding Craven, received. party Time answer extended Oct. McDowell Stephey relief. Demurrer to bill by defendants Elmer Odell Dirks. Illinois State Savings Bank, celver for the Claudon State Bank, Bessie Mossiman enforce lia bilities of directors State Bank. Moby Claudon, Bessie Mossiand Spense for extension of to answer. Time extended to Oct. Circuit Clerk Whitson called the the grand jury o'clock Tuesday afternoon and after they had been by the clerk, Judge Baker named Nussbaum, Fairbury, foreman of the jury. The judge then instructed the jurors their duties. Later adjourned with the state's attorney closed sion. At the opening of the October term the circuit court Tuesday morning Circuit Judge Baker named James Lord as circuit court bailiff. Mr. Lord replaces Eldon Shafer, who has been court bailiff several years past and who recently resigned. COUNTY COURT NEWS. The trial list the circuit court been revised somewhat court hearings will resumed Oct. when prospective jurymen are summoned for Dates for the trial of the criminal calendar will set that time and the are continue into the week of Oct. 24. The Acton Bedford and FlemFederal Auto Ins. Co., are also for these weeks. The revised list of cases for hearing are follows: November re Estate de Matter: Steele Peacock; Nebas Nilt; Wise Wise; Mutter vs. Woelfelt Leather Finch Bros. Dyer; Bell Kaplen; Larsen Kalden; National Novelty Import Suffern. December Banking Co. Isham First Trust Bank; In Estate Ole Erickson; Lamb Walsh; Larson Larson; Danielson vs. Kay; Ry. Peterson; Booth Fletcher; KinHeather Kay; Furst Harrison. December 12th derson; Holderman Petropolis; Smith Halkyard Morris Grain Hawkes Smith Hide Co. Woelfel Leather Co.; Stern Nelson: First Trust Savings Bank Walker; First Trust Bank Walker. December 19th Stringfellow Electric Gano vs. Woelfel Olson Clements: LeRette Ragan Burns First Bank National Theatre Film Service Co. Thomas Westmoreland Village of South Kennedy; The Morris Grain Marsh; Carlson vs. Haller: Railway Trustees Free Methodist Church Ry. Co.; In the Matter Estate of Robert dec'd; Co. Boel al.; Schults Hockings WestmoreKelly Walker. following jurymen are being summoned for service Oct. William Harty, Frank James Farrell, Coleman, Stine, John Benson, Wauponsee; Harry Bishop, John Lois, Henry rall, Roy Lyons, Theodore Minkler, Charles Robert Brown, Har Harrod. Morris; Severt Larson, Noble Benson, Saratoga; Mike Marietta, Thomas SandeEdmonds, Seman Nelson, John Krug, Matthew English, William Knowies, Battista Muzzarelli. Greenfield; Russell Wakeman, Ernest John Barney Girot, Jas. H. ton. Joseph Geo. Stewart, Henry Barschdorf, Braceville: Jr., John Anderson, Henry John Kincella, Aux may forget when due forgets envelope. There will be no extra session don't need about perfectly nice autumn There considerable tion of evidence that the ocean when comes

3. October 19, 1927 The Pantagraph Bloomington, IL
Article from The Pantagraph, October 19, 1927

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Article Text

DEMURRER RECORDED IN ODELL BANK CASE Joseph Cleary, Stockholder and Defendant in Suit, Asks for Dismissal Oct. funct Farmers' National bank of and defendant the case the State bank the of Odell enforce and the appointment receiver. has demurrer to original bill filed by states that original bill comMay State bank Odell all property and State agreed the institution amounting but that signment defendant apprised the terms and Items the The demurrer also claims nothing the upon the can for relief: that the 10 statement the Farmers' National bank insolvent May 1926 the allega. the property assets the Farmers' insufficient than half made that there and Farmers' tional without stating creditors are and the amounts due them. the indebtedness Cluadon Answer Filed. The May Farmers' bank was indebted ants sum wherethe appears the debtor that that the the Farmers' National uncertain: that 1317 the State not properly verified seeks dya to the dismissed with reaThe answer of the estate. filed thru the administrator. Robert appeared Tuesday the Dan Claudon. Mosiman, Spence. Mary Claudon Robert Henning The defendant admits certain the allegations. but the states that he never heard nor been of except the ants' whether allegations true. and desires strict proof of each allegation. The allegations admitted refer ter the State under the Illinois law, its capOscar of the bank on June 16, ley 1937: the state auditor's action against the bank the circuit court. and the taking over the bank the Illinois State Savings bank receiver. Case Referred to Master. The answer the estate also states that the estate insolvent, sums shall be found to be due the complainant final cree, they can have the sixth against the estate. be payable rata in the course All other defendants the above case not answering in court Monday were declared defaulted. Creditors of the Claudon State Fairbury until the first day the May term. 1928, which claims against the bank. according the order by Judge Baker Tuesday morning. In the case Illinois State Savings bank. acting receiver of the Claudon State vs. John were defaultthe was called Tuesday matter was then referred the master chancery evidence and The defendants in the case of the bank. acting receiver. Rex action. were defendants the Russell Fenner John Lillibridge suit title. The latter matter referred to the master for evidence and Judgment by Default. The comgiven judgment fault amounting against The fendant three times not answering. declared William distress rent action filed him by William H. and and cial execution against the property foreclosure decree was awarded Vincent. trustee, against John Rieck In of Albert Lee Smith VS. Nettle construe and Judge Baker appointed Burns guardian for Bernice Juanita Alice Smith, infant deKatherine of filed her petition County Clerk April 1876. coming country March. 1892. Sadie of has filed suit for the being directed against Pearl Davis Mrs. Hacker seeking $10,000 damages.