Peoples Trust & Savings Bank (Ottawa, IL)

Episode Information

Episode UID
70024371583
Episode Type
Suspension → Closure
Bank Type
savings
Bank ID
7002437 routing
Routing Number
70-0243
Start Date
November 2, 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
99f441c892b1ebb3

Response Measures

None

Description

Bank was closed and placed in receivership by state authorities in Nov 1931 and remained in receivership through at least 1935.

Events (4)

1. November 2, 1931 Receivership
Newspaper Excerpt
RECEIVERS OF SALLE COUNTY BANKS ARE NAMED ... Peoples Trust and Savings Bank Ottawa, Robert Smith. ... representatives from the office Oscar Nelson ... to check the receivers for the Ottawa and Trust and the People's Trust and Savings Bank, who were appointed Chicago last week.
Source
newspapers
2. November 2, 1931 Suspension
Cause
Government Action
Cause Details
State auditor appointed receivers after the bank was closed; closure appears to be by state action following distress
Newspaper Excerpt
receivers had been appointed and charge the following named which closed several weeks ago Peoples Trust and Savings bank
Source
newspapers
3. May 2, 1935 Other
Newspaper Excerpt
Preparations have been completed for the payment of 5 per cent dividends to the depositors of the People's Trust and Savings bank of Ottawa ... L. M. Lucey, deputy receiver ... has prepared the dividend checks
Source
newspapers
4. November 7, 1935 Other
Newspaper Excerpt
Sale of Ottawa Bank Building Is Authorized ... sale of the People's Trust and Savings Bank building in Ottawa to Bernard Ulrich ... authorized on petition of William O'Connell, bank receiver
Source
newspapers

Newspaper Articles (6)

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


Article Text

BANK RECEIVERS TO START WORK Representatives from the office Oscar Nelson, auditor public reached Ottawa from Springfield yesterday, to "check the receivers for the Ottawa and Trust and the People's Trust and Savings Bank, who were appointed Chicago last week. Joseph Standart has named Banking and company, Robert Smith receiver Trust and


Article Text

Dividend Payments On Standard Of New Jersey And Indiana Brighten Market. By JOHN COOLEY Press Financial Writer NEW YORK. tinued strength in the oil shares featured curb market today More favorable prices for crude oil together with regular dividend Standard and Standard of Indiana directattention to the petroleum issues Indiana Humble pushed up two points or more, closely followed by Utilities were inclined to improve, 45% but the group on the whole was rathsluggish Most the specialties dealt in higher. strong grain 67's directed speculative Deere equipment issue. which rose couple of Call money renewals began the month per NAME BANK RECEIVERS. SPRINGFIELD. Ill., Nov 2-(AP) were today charge the Citizens State Bank and Trust company Sheldon. Iroquois county. Downers' Grove State bank which were closed Saturday. Announcement was also made that receivers had been appointed and charge the following named which closed several weeks ago Peoples Trust and Savings bank and the Banking and Trust company, both Ottawa. the Utica State bank. the Serena State Bank Troy State and the East Moline Manufacturers' State bank. CLOSE NEW YORK EXCHANGES NEW YORK, Nov. tually all leading and commodity markets will closed tomorrow election day. which legal holiday in most New York stock exchange the York market the New York exchange. the New York produce exchange, closed. Banks will remain closed the important business HAY. ST. LOUIS, Nov firm. No. 13-14: No. 0.50-12.50; Clover mixed. No. No. Clover. No. No. 10-12: 12-12.50: No. alfalfa, choice, 17-18; No. 16-17. MONEY RATES NEW YORK. Nov. money steady 2½ per day. Time steady days months per cent. Prime paper bankmos. 5-6 PEORIA LIVESTOCK steady: 200-275 lbs. 150-210 packers stags slow to steady; veals down. METALS NEW YORK. quiet, electrolytic, and future Tin easy. spot and nearby 22.30; future 22.50. Iron barely steady, No. eastern Pennsylvania 14.75@ 16.00; Buffalo Alabama Lead steady, spot New York 4.00; East St. Louis 3.80; zinc steady, East Louis spot and fuAntimony 6.50; quick silver SEIZE BANK BANDIT capture Wockner Fla., custody the suspected


Article Text

News in Paragraph —The will of the late Mrs. Sarah A. Arrandale, of Streator, who died April 18, in Chicago, has been filed for probate. Mrs. Arrandale left an estate valued at $1,600. She bequeathed her holding to her three children in equal shares. —See Thornton's classified ad. —Radio broadcast, Station P. U. N. K., May 2 and 3. Wilson school 8 p. m. Adm. 15c. —Wanted at this office, copies of Jan. 19, 1935, issue of the Times-Press. —Miss Alice Brakemore, of 1005 E. Livingston street, is confined to her home with an attack of scarlet fever. Her condition is not reported as serious, however. —Be a tailor made student; All wool graduating suits tailored in any style, $19.75. The Julien Tailoring Co. —Special for Friday and Saturday: Baseball caps. Assorted colors 19c each. Williams Hardware Co. —Preparations have been completed for the payment of 5 per cent dividends to the depositors of the People's Trust and Savings bank of Ottawa and the State bank of Seneca. L. M. Lucey, deputy receiver of the two banks, has prepared the dividend checks, which will be ready for distribution within ten days. The checks are to be sent to Chicago to be countersigned first by William O'Connell, bank receiver, and then to Springfield to be countersigned by E. J. Barrett, state auditor. —Rummage sale of seasonable clothing Saturday, May 4, 313 E. Main street. —George S. Wiley, former La Salle county state's attorney, entered the Presbyterian hospital in Chicago yesterday. He is suffering an infection of the leg, caused by a slight cut. Mrs. Wiley is in Chicago with her husband. —Lawn mowers sharpened 50c. Repairs. 412 Penn St. —White flannel trousers, tailored in any style you desire, specially priced to students, $5.50. The Julien Tailoring Co. —Miss Belle D. Boyson, former La Salle county relief administrator, has accepted a position as district representative for the Iowa Emergency Relief Commission. With headquarters in Des Moines, Miss Boyson is to have charge of seven counties. —The mother and daughter banquet of the Park Presbyterian church will be held at the church, Friday evening, May 10. —The following members of the M. E. church motored to Peoria today, where they will hear Bishop Waldorf deliver an address at a dinner meeting of church laymen this evening: Rev. and Mrs. W. F. Day, Dr. and Mrs. C. W. Kent, Mrs. Mary Anderson, Mrs. S. Harmon, and Mrs. J. W. Worrell. A district rally is being held there throughout the day. —C. Atlee McCormick cleaning, pressing. Murray Bldg. Dial 35331. —Wanted, experienced stenographer. Address Box A1, care Times-Press. —Harry Sanderson, who has been in Chicago since Sunday morning transacting business, has returned to this city. —Beautiful all wool wedding suits. Tailored to your order, $19.75. The Julian Tailoring Co. —Ernest Koenneman, Sr., who has been a patient for several weeks in the Santa Fe hospital at Fort Madison, Ia., returned to his home, 303 West LaRue street, last evening. Mr. Koenneman's health has improved somewhat during his stay in the hospital. —Mr. and Mrs. L. C. Hill, who have spent the past winter visiting their daughter, Mrs. Orpha Neil and family in Stuttgart, Ark., have returned to their home on South Vermillion street. —Rev. E. W. Smith, pastor of the local Presbyterian church, is in Chicago in attendance at the National Younger Men's Missionary Congress being held in the Stevens' hotel, today, Friday and Saturday. The gathering is inter-denominational in character, with men of international fame and experience leading the program. Such men as Dr. George Sherwood Eddy and others will appear. —Mesdames L. B. Swartz, W. G. Baysinger, Eugene Werner and Joseph Mitchell motored to El Paso yesterday, where they presented the sketch, "World Peace," which they so ably portrayed at the recent group meeting of the M. E. Missionary Society in Wenona. The sketch was written by an El Paso woman. It was given before a group meeting in El Paso.


Article Text

—Special for Friday and Saturday: Baseball caps. Assorted colors 19c each. Williams Hardware Co. —Preparations have been completed for the payment of 5 per cent dividends to the depositors of the People's Trust and Savings bank of Ottawa and the State bank of Seneca. L. M. Lucey, deputy receiver of the two banks, has prepared the dividend checks, which will be ready for distribution within ten days. The checks are to be sent to Chicago to be countersigned first by William O'Connell, bank receiver, and then to Springfield to be countersigned by E. J. Barrett, state auditor.


Article Text

Sale of Ottawa Bank Building Is Authorized Judge Robert E. Larkin yesterday afternoon authorized the sale of the People's Trust and Savings Bank building in Ottawa to Bernard Ulrich of Chicago for a consideration of $75,000. Ulrich desires to purchase the building for an investment. The building is a three-story brick structure with the Woolworth Five and Ten Cent store, the Birger Larson Jewelry store and the Feehan & McClellan agency on the ground floor, and living quarters, office suites and lodge rooms on the upper floor. The sale was authorized on petition of William O'Connell, bank receiver, who was represented at the hearing by George V. B. Weeks.