Ottawa Banking & Trust Company (Ottawa, IL)

Episode Information

Episode UID
70024171581
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
7002417 routing
Routing Number
70-0241
Start Date
September 29, 1931
Location
Ottawa, Illinois (41.346, -88.843)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
58c56204595969ac

Response Measures

None

Description

Bank closed by its board Sept. 1931 and a receiver was named later (Nov. 1931).

Events (3)
1. September 29, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors initiated closure to protect the bank's assets amid local banking distress and inability to secure outside assistance.
Newspaper Excerpt
the Ottawa Banking and Trust co. having closed Tuesday
Source
newspapers
2. September 30, 1931 Other
Newspaper Excerpt
Because of reported failure to get financial assistance from Chicago banks during a run, the National City Bank closed its doors today. The run began, after the closing of the Ottawa Banking and Trust Company yesterday.
Source
newspapers
3. November 2, 1931 Receivership
Newspaper Excerpt
RECEIVERS OF LA SALLE COUNTY BANKS ARE NAMED ... Ottawa Banking and Trust Com Joseph ... (state auditor announced appointment of receivers of various banks recently closed).
Source
newspapers

Newspaper Articles (5)
1. September 30, 1931 Des Moines Tribune Des Moines, IA

Article Text

STATE SURVEY BEGINS FRIDAY Conservation Project Office to Be Opened. Work on the survey of the state with view of establishing a long time conservation program will begin Friday when representative of Jacob of Chicago, will set up an office here. Ralph Kittinger. secretary of the state of conservation. made the announcement, said the first payment made by the state on Crane's which signed this week by members of the board and the fish and game commission. Crane's bid for the survey which he expects will take approximately two years to plete, was OLYPHANT. PA., BANK CLOSED SCRANTON, PA The Miners Savings Bank and Trust co. at Olyphant, near here, closed Wednesday. The deposits approximated three million dollars. Directors decided to close in order to protect the bank's assets. 2ND OTTAWA BANK CLOSED. ILL. National City bank of Ottawa failed to open Wednesday. It was the second Ottawa bank to close in two days, the Ottawa Banking and Trust co. having closed Tuesday Both actions were initiated by their boards of directors. The Na tional City bank had deposits of 1,17 on June 30.

2. September 30, 1931 Waukegan News-Sun Waukegan, IL

Article Text

CHICAGO STOCKS CLOSING PRICES CHICAGO, Sept. 30—(AP) A Stocks Close Abbott Lab 31 1/4 Acme Steel 18 Am Equities 2 3/8 Am Pub Ser Pf 60 1/4 Appalach Gas 1 5/8 Art Metal 3 1/2 Assoc T & T A 59 Assoc T & T $6 Pf 75 Assoc T & T 7 pc Pf 90 Assoc Tel Util 18 Assoc Tel Util A Pf 60 Assoc Tel Util 6 pc Pf 75 Assoc Tel Util 7 pc Pf 79 Assoc Inv 54 3/4 B Bendix Avia 14 5/8 Borg-Warner 12 Borg-War Pf 90 Brach & Sons 8 1/2 Brown F & W A 9 3/4 Brown F & W B 2 Burnham Trad 1 1/4 Burnham Trad Pf 3/8 Butler Bros 3 C Cent Cold Storage 14 1/2 Cent Ill Pub Ser Pf 90 Cent Ill Sec 19 1/2 Cent Ind Pow Co Pf 63 Cent Pub Serv A 4 Cent & So West 9 Cent & So West Pf 70 Cent & S W Pr Pf 85 Chic Invest Pf 22 Chi No Shore and Milw Pf 13 Chic Yell Cab 14 Cities Service 6 1/2 Com-with Edis 153 1/2 Cont Chicago 2 1/8 Cont Chic Pf 25 1/4 Cord Corp 5 5/8 Corp Sec 6 3/8 Corp Sec Ctfs 23 Crane Co 20 Crane Pf 90 1/2 E Elec Household 8 Fitzsimmons & Con 19 G Gen Thea Eq Vtc 1 1/8 Gt Lakes Air 3 Gt Lakes Dredge 13 Grigsby-Grunow 1 7/8 Grief Bros Corp A 16 H Hall Print 12 Hart-Carter Pf 4 1/2 Houd-Her A 14 1/4 Houd-Her B 3 3/4 I Ill Brick 7 1/2 Insull Util 12 1/2 Insull U Pf 2nd Ser 42 1/2 Iron Fireman 6 1/2 K Kellogg Switch 3 Ky Ut Jr Cum Pf 48 Keystone Steel 7 L Lane Drugs Pf 1 Lawbeck Corp 55 Leath Pf 12 Libby-McNeill 7 3/4 Lincoln Print 16 1/2 Lynch Corp 12 3/4 M Manhat Dearborn 7 Mapes Cons 37 1/2 Marshall Field 14 1/2 Material Serv 15 1/2 McCord Rad A 7 McQuay Norris 36 Merch & Mfrs A 10 Met Ind Co Allot Ctf 29 Mickleberry's Food 7 Mid West Util 10 Mid W Ut 6 pc Pf A 71 Mid W Ut A War 5/8 Mid W Ut B War 3/4 Midland United 14 Mid Ut 6pc A Pf 60 Mid Ut 6pc Pl 60 Mid Ut 7pc Pl 78 Miss Val Util Pf 72 Miss Val Util P L 73 Mo-Kans Pipe 2 Modine 16 Monroe Chem Pf 24 N Nachman Spring 4 1/2 Nat Elec Pow A 12 3/4 Nat Family Str 3/4 Nat Rep Inv 8 Nat Secur Inv 1 1/2 Nat Secur Inv Pf 37 Nat-Standard 21 1/2 Nat Un Radio 1 1/4 Noblitt-Sparks 17 3/4 North Am Car 9 1/2 North Am L & Pow 27 1/2 No & So Am 3 1/8 Nor'west Bancorp 23 3/4 No West Ut 7 Pc Pf 57 No West Ut Pl 83 1/2 Perfect Circle 30 Pines Winter 11 Public Serv N P 170 Pub Serv 6 Pc Pf 110 Pub Serv 7 Pc Pf 120 Q Qrs Devry 1 7/8 Quaker Oats 109 3/4 Quaker Oats Pf 115 R Railroad Sh 2 1/8 Rath Pack 14 3/4 Raytheon Vtc 2 1/2 Reliance Int'l 1 1/4 Ross Gear 19 Ryerson & Son 16 S Stl Natl Stkyds 55 Seaboard Pub Ser $3.25 Pf 41 Seaboard Util 1 3/4 Signode Steel Pf 9 1/4 So Colo Pow A 19 So Un Gas 3 3/4 So West G & E Pf 77 So West L & P Pf 60 Stand Dredging 1 7/8 Swift 23 Swift Int'l 30 1/4 T Tel Bond & Sh A 50 1/2 Tel Bond & Sh 1st Pf 98 Thompson 16 1/2 U Unit Corp of Am 1 3/4 Unit Gas 3 1/4 US Gypsum 25 5/8 US Radio & Tel 13 3/4 Utah Radio 1 1/8 Util & Ind 3 7/8 Util & Ind Pf 13 1/2 V Vortex Cup 16 Vortex Cup A 24 1/2 W Walgreen Co 13 Waukesha Mot 35 Wayne Pump Pf 5 West P L & Tel A 20 3/4 Wls Bankshrs 4 1/2 Total stock sales 160,000 Total bond sales $67,000 ROCK ISLAND BANK CLOSED ROCK ISLAND, Ill., Sept. 30—(UP)—The Central Trust and Savings bank, the city's largest financial institution with resources of $7,700,000, closed today after a run. A posted notice said the bank closed for audit and examination by directors. PEORIA LIVESTOCK PEORIA, Ill., Sept. 30—(INS)—Livestock: Hogs—1,200; steady to 5c higher; 180@240 lbs. 4.75@5.25; 250-300 lbs. 5.10@5.25; pigs and light lights 4.65 down; packing sows 3.50@4.50; stags 3.00@4.25. Cattle—200; steady; veals 9.50 down. LIVESTOCK ESTIMATES CHICAGO, Sept. 30—(AP)—Official estimated receipts tomorrow: Cattle 6,000; hogs 24,000; sheep 27,000. FLOUR MINNEAPOLIS, Sept. 30, (AP)—Flour unchanged. Shipments 32,093. SILVER NEW YORK, Sept. 30—(AP)—Bar Silver 27 1/2. PEORIA GRAIN PEORIA, Sept. 30—(AP)—Cash corn 1 1-2@1 3-4 cents lower; No. 1 yellow 36; No. 2 yellow 36; No. 3 yellow 35 1-2. Oats unchanged; No. 3 white 19@19 1/4. CLOSE OTTAWA BANK OTTAWA, Ill., Sept. 30—(INS)—Because of reported failure to get financial assistance from Chicago banks during a run, the National City Bank closed its doors today. The run began, after the closing of the Ottawa Banking and Trust Company yesterday. The National City Bank was capitalized for $200,000. It is in solvent condition and depositors will get 100 cents on the dollar, officers said. TRANSFERS Furnished by ILLINOIS TITLE COMPANY ABSTRACTS OF TITLE TITLE GUARANTEE POLICIES WAUKEGAN, ILLINOIS Sept. 25, 1931 S Darrow to J Lelckem and wf jt tens W D, lots 54 and 55, Beach View Sub, sec 33, Benton. C T and tr Co to W T Abel and wf jt tens deed lot 2, blk 53 Round Lake Beach, sec 20, Avon. Foreman-State Tr & Svgs Bank to C Janssens and W Berg jt tens deed lot 39, blk 40, Round Lake Beach Sub, sec 20, Avon. J C Gonyo Q C D, Pt of SW qr of sec 31, Libertyville. C J Mason and wf to R O Hinton and wf jt tens Q C D A tract of land in sec 9, Vernon. F H Bartlett to N J Arbuthnot deed, pt of fractl sec 5, Benton. J F Wilas and wf to T E Reardon Q C D W hf of SE qr of NE sec 3, Cuba. J Schwartz and wf to J Schwartz W D, lot 11, blk 2, lot 3, blk 3, lot 2, blk 4, lot 46, blk 8, Ravinia Highlands. T Paul and hus et al to E E Evans and wf jt tens W D, lot 165, Pleasant Hill Sub, sec 18, Avon. O I Rockenbach and wf to A Heybeck and wf jt tens W D A tract of land in sec 20, Ela. B. M. Uhler to B. Whipp Q C D lot 9, Golf Links Addn, sec 27, Deerfield. A B Millard to J G Latimer W D, S hf of lot 12, J S Hovlands H Pk Acres Sub, sec 21, Deerfield. J G Latimer to A B Miller and E G Millard jt tens W D S hf of lot 12, J S Hovlands H Pk Acres Sub, sec 21, Deerfield. Foreman-State Tr and Savings Bank to O T. Oliver and wf jt tens deed lot 33, blk 43, Round Lake Beach Sub, secs 17 and 20, Avon. V C Hultzen to A E Hultzen and wf W D Pts of lots 25 and 26, blk 2, First Addn to Everbreeze Sub, Sec 13, Grant. Central Mfg District Bank to Robert E. Kenyon and wf jt tens deed lot 2, Deerpath Hill Estates, Lake Forest. K A Larsen and wf to E D Guetzen W D lot 113, J L Shaws Sub on Fox Lake. The First Natl Bank of Lake Forest to J Gist and wf jt tens deed, pt of lot 50, Co Clerks Sub, sec 28, Shields. P L Speidel and wf to J Gist and wf jt tens Q C D, pt of lot 50, Co Clerks Sub, sec 28, Shields. W B McCluer to J H Quinlan W D NE qr of SE qr and hf of SE qr sec 1, Fremont. MANY BIDDERS ON P. O. REPAIR Expect At Least 12 Bidders On Repair Job At Postoffice Ordered By Gov't. At least twelve contracting firms are expected to have bids entered by tomorrow afternoon on a proposal calling for extensive repairs to the Waukegan post office building. It was announced from Postmaster Mancel Talcott's office this morning that twelve contractors have been given specifications of the proposed improvements to date, the majority of whom will probably return their proposals before the deadline at 2 o'clock tomorrow afternoon. While no estimate has been released by federal government inspectors as to the probable cost of the entire improvement, it appears certain that the project will amount to several thousand dollars, as the inspector has recommended extensive repairs throughout both the interior and exterior of the building. Contemplated repairs to the roof will probably entail the largest expense of any repair item on the entire improvement program. All iron grill work on the exterior of the building will be repainted, the woodwork redecorated, new portions

3. September 30, 1931 Waukegan News-Sun Waukegan, IL

Article Text

BRIGHT SPOTS IN BUSINESS BRIGHT SPOTS IN BUSINESS United Press NEW YORK, Sept. tal life insurance force increased during the first half 1931, according the Life Insurance Presidents Glidden company has been showing steady increase sales the past three months, Adrian Joce, president of the said. shortage of merchandise in the industry predicted by president of the Clothing Association: shipments for August than 10 per cent greater than for August, 1930 NEW Avenue Railsystem reported the two months ended August surplus $42,897. against loss the corresponding period of 1930. Mountain sugar factories opened this week have provided 100 days' work for 38,500 men to the 100,000 regularly employed, United Press survey revealed. for construction work than $1,000,000 have been placed with the Austin company during the weeks, company officials Air Conditioning, Heating frigerating company had 33 per cent orders hand the close the third quarter than on June 30, according to company officials. NEW States Pipe & Foundry company contract tons of 36 inch pipe for Lincoln, Neb. CLOSE SERENA BANK SERENA, Ill., Sept. (INS)The failure the Serena State bank here today marked the third La Salle county bank that has closed its doors within the last two days. Both of the others were at Ottawa, the Ottawa Banking and Trust company closing yesterday and the National City Bank leaving its doors closed today. latter in solvent condition, to officers, but closed inability to get ready cash to meet Serena Bank capital stock of TREASURY BALANCE WASHINGTON, Sept. The treasury net balance Sept. Expenditures for that day $11,314,822.71. Cusfor month through Sept. 28 were 33,349,385.73. COTTON Sept. futures

4. November 2, 1931 The Times Streator, IL

Article Text

RECEIVERS OF SALLE COUNTY BANKS ARE NAMED Nov. State Auditor Oscar Nelson today announced the appointment of the various banks La Salle county, recently closed: Peoples Trust and Savings Bank Ottawa, Robert Smith. Ottawa Banking and Trust Com Joseph Utica State Bank, Weston sington. Serena State Bank macher. Troy Grove State Bank, Andrews

5. December 23, 1935 The Times Streator, IL

Article Text

Action Against Bank Receiver Is Dismissed Action asking that William L. O'Connell, receiver of state banks, be held in contempt of court for alleged failure to carry out a court order, was dismissed today on motion by A. H. Shay of Streator, attorney for Richard Gaard, the petitioner. O'Connell is alleged to have failed to comply with a circuit court order issued in October, providing for him to turn over approximately $2,500 to Gaard as administrator of the estate of the late Benjamin Wicks. O'Connell has taken an appeal of the order to the second district appellate court. The Ottawa Banking and Trust company was former conservator of the estate of Wicks and following the death of the latter, was named administrator. After the closing of the bank, Gaard was named administrator. He claimed the bank received $10,000 to invest for Wicks and that a bad investment was made with the amount of money O'Connell has been ordered to turn over from the bank's assets.