Bartlett & Wallace State Bank (Clayton, IL)

Episode Information

Episode UID
70088671571
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7008867 routing
Routing Number
70-0886
Start Date
November 17, 1930
Location
Clayton, Illinois (40.031, -90.961)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
837f14d733fb2f79

Response Measures

None

Events (1)

1. November 17, 1930 Suspension
Cause
Correspondent
Cause Details
Closed in connection with the failure of the State Savings, Loan and Trust Company of Quincy, of which the Clayton institution was a correspondent.
Newspaper Excerpt
The Bartlett and Wallace State bank, Clayton, and the Timewell State Bank of Timewell, closed today, State Auditor Oscar Nelson announced.
Source
newspapers

Newspaper Articles (6)

Article from The Sheboygan Press, November 17, 1930

Click image to open full size in new tab

Article Text

Action Taken For Protection Of Depositors (By United Press Several banks were closed today in four states. Some were closed as a protective measure to depositors and several announced probable solvency. Four banks failed to open in Louisville, Ky. Two were smaller banks and their closing was attributed to closing of the other two. The two bigger banks, officials said, were closed as "protective measures to depositors" although the institutions were solvent. Due To Heavy Withdrawals In Arkansas 35 banks did not open today. Thirty-two of these took advantage of the state law permitting suspension of operation for five days. The other three closed and were officially placed in the hands of banking department officials. Two small banks closed in Illinois. They were correspondent banks to two which failed recently in Quincy, Ill. Four banks in Missouri also closed today as result of the Quincy bank's closing. Kentucky Banks Close Doors Louisville, Closing of the National Bank of Kentucky here today was followed by five smaller banks closing up as precautionary measure, four here and in Franklin, Ky. Meanwhile presidents of the other banks in the city issued statements asserting their institutions were solvent in every respect and would not be affected The National Bank of Kentucky of which James B. Brown is president was placed in the hands of Paul Keyes of the federal comptroller general's office as receiver. It's announced resources $54,000,000. The other Louisville banks closed were the Security bank which it was stated was closed purely as a precaution: the Louisville Trust company which is affiliated with the National Bank of Kentucky, and two comparatively small negro banks, the American Union Savings bank and the First Standard bank. Depositors To Be Paid The McElwain Meguiar Bank and Trust company of Franklin, Ky., was fifth to Its announcement said it had to shut down because the National Bank of Kentucky one of its correspondents and that its depositors would be paid in full In Louisville slightly more than normal numbers of patrons gathered at the other banks but nothing approaching a "run" noted and bank officials issued optimistic statements that the public would not become excited. Crowds around the National Bank of Kentucky and the Louisville Trust company delayed traffic slightly and special police were on duty. Appointed Receiver Washington (UP) Appointment of Paul Keyes as receiver to liquidate affairs of the National Bank of Kentucky at Louisville was announced today by Comptroller the John W. Pole. The Louisville bank suspended operations today when its directors voted to turn its affairs over to the comptroller of the currency. Keyes is a veteran member of the comptroller's staff. Little Rock. (UP) Arkansas banks affiliated with the A. B. Banks company of Little Rock, closed today, taking advantage of state law permitting temporary suspension for five Three banks, all small, were ordered closed by the State Banking department. The five-day closing law was invoked by the institutions in the Banks group, was announced by directors, due to fear of hasty withdrawals. Most of the banks issued reassuring statements announcing probable solvency. The list of B. Banks company institutions which closed to remain so for five days included two of the largest banks in the state, the American Exchange and Trust company of Little Rock, and the Merchants and Planters' Bank of Pine Bluff. The State Banking took over three small banks not affiliated with the group, the Bank of McRea, Bank of Branch and Bank of Foulke. Springfield, III. (UP) Two Illinois banks were closed today, increasing the number of failure in the state since Friday five. The Bartlett and Wallace State bank, Clayton, and the Timewell State Bank of Timewell, closed today, State Auditor Oscar Nelson announced. All the closings were in connection with the failure of the State (Continued on page 7)


Article from News-Record, November 17, 1930

Click image to open full size in new tab

Article Text

BANKS CLOSE TO PROTECT DEPOSITORS Kentucky, Arkansas and Illinois Banks Affected By United Press Washington. — Appointment of Paul Keyes as receiver to liquidate the affairs of the national Bank of Kentucky at Louisville was announced today by Comptroller of the Currency John W. Pole. The Louisville bank suspended operations today when its directors voted to turn its affairs over to the comptroller of the currency. Keyes is a veteran member of the comptroller's staff. Louisivlle, Ky.—The Louisville Security bank and the American Mutual Savings bank, the latter negro-owned and operated, closed today after the National Bank of Kentucky and the Louisville Trust company failed to open for business. The Security bank was affiliated with the National bank which was taken over by the federal comptroller of currency. The negro bank was affiliated with the Louisville Trust company which was placed in the hands of the state banking commissioner. The four banks combined list resources aggregating $65,000,000. All of the institutions were declared solvent, but that it "was necessary to close them to conserve the resources and protect creditors, depositors and all others concerned. Jefferson City, Mo.—Four northeast Missouri banking institutions closed their doors today as a direct result of the failure last week of the State Savings Loan & Trust company of Quincy, Ill. All the institutions had deposited their surplus funds in the Illinois bank, and were forced to close their doors to protect depositors. Little Rock, Ark.—The American Exchange Trust company of Little Rock, of which A. B. Banks is president, and 15 banks affiliated with the A. B. Banks company, closed today, the state banking department announced today. The action was taken, it was explained, under an Arkansas law permitting a bank to close temporarily for a period of five days, after which it must be reopened or be placed in the hands of the state banking department. Springfield, Ill.—Two Illinois banks were closed today, increasing the number of failures in the state since Friday to five. The Bartlett and Wallace State bank, Clayton, and the Timewell State bank, Timewell, were closed today, State Auditor Oscar Nelson announced. All the closings were in connection with the failure of the State Savings Loan and Trust company, of Quincy, of which the Timewell and Clayton institutions were correspondents. The Timewell bank had deposits of $150,000 and the Clayton bank $500,000. Pine Bluff, Ark.—The Merchants & Planters Bank and Trust company of Pine Bluffs, and seven smaller banking institutions in southeastern Arkansas, failed to open their doors today. The smaller institutions were: Bank of Star City, Bank of Altheimer, Eudora Bank & Trust company, the Bank of Wabbaseka, First State bank of Stuttgart, Chicot Trust company of Lake Village, and the Merchants and Planters bank of Humphreys. Helena, Ark.—The Merchants & Planters bank of Helena, closed today. Officials announced they regarded the institution as solvent but were closing to protect depositors. Louisville, Ky.—The national bank of Kentucky, capitalized at $5,000,000 and an affiliated bank, the Louisville Trust Company, failed to open today and the former was taken over by a national bank examiner. A notice posted by the board of directors and signed by Russell E. Mooney, national bank examiner, said the national bank was solvent but that it had been closed "to con-


Article from Abilene Daily Reporter, November 17, 1930

Click image to open full size in new tab

Article Text

THIRTY BANKS CLOSE IN ARK Continued from Page financial difficulties of Caldwell Company, bankers Tenn." also said affairs Caldwell & remote Arkansas nothing but an from excited public could have forced closing of this strong Nov. the closing the National Bank of Kentucky. today started run depositors every the city practically Similar existed in other parts the Most institutions issued of statements they no connection with the bank of Kentucky. The bank was closed following meeting of the board with repreof Louisville finanhouse. The meeting was in cial session from p.m. Saturday until 10 p.m. Sunday, when agreed that no immediate solution could be attained. SPRINGFIELD, Ill., Nov. Illinois banks were closed today, the number of failures in the state since Friday The Bartlett and Wallace State bank, Clayton. and Timewell State bank, Timewell, were closed today, auditor Oscar Nelson announced. All the closings in connection with the failure of the State Savings Loan and Trust company of Qunicy, which Timewell and Clayton institutions were correspondents. Timewell bank had deposits of $150,000 and the Clayton bank $50,000. NASHVILLE, Tenn., Nov. 17. Federal Judge John Gore today sustained for creditors' bill against Caldwell Company, investment banking house and dered to their claims before next July JEFFERSON CITY, Mo., Nov. Exchange bank, Rutledge, in with total of $43,790, and the Downing State bank, at Downing, in Schuyler county, were clostoday placed the hands the state finance department. The Downing bank had total resources of $193,929. Both banks were closed as sult the failure recently of the State Savings Loan Trust company Quincy, III., where they transacted business. LOUISVILLE, Ky., Nov. 17. Security bank, affiliated the bank Louisville Trust company through inclusion in the company, temporary suspension here today. LOUISVILLE Ky., Nov. 17.Kentucky, the oldest bank Kentucky, was closed by resolution of its board of placed the hands National bank examiner. The Trust company, an was closed by action of its board James B. Brown, president of the National of Kentucky, issued the to withdrawals in the past week and ruon the streets was advisable majority of the board of directors to close the bank, least temporarily, for the best interests of depositors and all concerned." Presidents of other Louisville banks issued statements that their institutions were solvent.


Article from The Courier-Express, November 18, 1930

Click image to open full size in new tab

Article Text

MIDWEST BANKS Continued owned and operated, closed today. said that all solvent, that the suspension of busiprotect the interests creditors and depositors." National Bank of the Trust the Company, American Mutual Savings the Bank, Securities Bank and the Standard all of Louisville, and the McElwain and Mequiar Bank and Trust Company of Franklin, were the Institutions affected. Negroes the operate American Mutual Standard banks. Finincial circles here held that the banks were forced to close because of rumors growing out of the Japse Caldwell and Tenn. Nov. The number bank in suspensions Illinois since Friday increased to five today when two more state banking institutions were closed. State Auditor Oscar Nelson nounced that the Bartlett and Wallace State Bank at Clayton and the State Bank Timewell suspended business connection with the failure of the State Savings Loan and Trust Company of Quincy. Both of the had deposits and Clayton bank


Article from Star-Herald, November 18, 1930

Click image to open full size in new tab

Article Text

Bits OF Knowledge The thickness of a razor blade's edge is about one-half millionth of an inch. One Scotts Bluff county farmer has changed the name of his able bodied son to "Farm Relief." He says the young man just won't work. English: A great collection of words studied by Americans before they decide to get along with one, "Yeah." Draw Your Own Moral To those who talk and talk and talk This lesson should appeal— The wind that blows the whistle Never, never turns the wheel. And the waitress may not make the soup, but it is possible that she has a finger in it. Adam and Eve were the first farmers—and they got in trouble listening to a fake farm relief story. Imitation may be the sincerest form of flattery or the surest sign of laziness. It doesn't take any previous experience as a detective in order to find fault or hunt for trouble. Motorist in an accessory shop—"No, I don't want a musical horn, I just want one that sneers." The office sheik opines "that two can live as cheaply as one—but it costs more to do it." Middle age is that period when a long drawn out kiss in the movies seems about as thrilling as savages rubbing noses. Correct this sentence: "Since Doc died," said the widow, "most of his patients have called to pay what they owed him." One of our bankers says: "What's the use. You are held down 'till you get money—and then you are held up." Storage Prevents Floods There is a continuous warfare between wind, water and soils, in displacements and replacements. The winds and waters are at work tearing down land. The land is again lifted up by earthquakes and by volcanic action. Visualize a solid train load of 100 cars of soils. Well, the Mississippi river delivers an equal quantity of silts and solubles into the Gulf of Mexico every ten minutes of a normal day. The forces of erosion are constantly at work, and just as mankind's struggle against the forces of nature, are his contests between individuals, groups and nations, so rivers, brooks, creeks and rills, stage their warfare with one another for territorial conquest and drainage control. The waters are ever battling against elevated areas and dancing with their load of debris on to the sea. The internal forces of the earth are forever producing irregularities in its surface. The waters cannot prevent these changes, but they are constantly at work obliterating and leveling them. In Isaiah, we read "Every valley shall be exalted, and every mountain and hill made low; and the crooked shall be made straight and the rough places plain." In the long ago, the magnificent Platte rose in two heads in the eastern Rockies and flowed in a generally easterly course, forming between them a great cone-shaped structural plain with the cone-head at what is now known at the city of North Platte, Nebraska, forming at this point the main Platte river, thence flowing generally easterly through the entire length of Nebraska and emptying into the muddy, treacherous Missouri and on to the Mississippi and the Gulf of Mexico, carrying constant volumes of earth within its banks to form destruction. Geological Construction Likewise, the North Loup, the Middle Loup and the South Loup merge into one stream, known as the Loup river, which in turn flows into the Platte. Along the southern border of Nebraska flows the Republican, rising in eastern Colorado and idling in an easterly direction with its earth load to add to flood troubles on the lower stretches of the Mississippi. Along these streams erosions and nature's leveling formed wide and fertile valleys. Between these rivers, lie the rich, level and undulating mesas or tables, extending from in eastern Colorado through the entire length of Nebraska. It is a truly beautiful region, which these rivers drain. Once it was a level ocean bed, and too fair a land to escape the attention of these soil cutting, eroding streams. Yes, these garden lands lie between these four rivers, as nestled the first garden between four rivers. In early geological times these then new rivers began digging their way through this once level ocean plain, plodding their way down to the Missouri. This process of chiseling and erosion is continuing to this day and will continue so long as time lasts, unless arrested by storage of these waters toward their source putting them to beneficial use for man. As lands are broken out and cultivated these pirate rivers increase their earth erosion to be added to the never ending accumulations down toward the Gulf. Killing Two Birds Man, as the present day sculptor of the world's landscapes, man, the maker of the world's modern Edens, the forerunner of every civilization, has made the modern geography on these western plains and valleys, what they are today, has watered and added security, and has prepared these stretches of the earth by the application of these waters, for Eden habitations for all things that live. The waters of the lower stretches of the Mississippi have so slowed up that they cannot carry off to the Gulf all the sand and silt its tributaries bring to it. Therefore, it gradually fills up its own bed, and without artificial levees would spread over millions of acres of land and form an inland sea. How long must man continue building up its banks as it continues to fill its bed, is the vital question of the hour. By storing these tributary run off and flood waste waters in the upper plains regions and utilizing them for irrigation during the dry season in July and August, only seepage waters need ever reach the lower Mississippi and that only in the fall time when floods never occur. Thus two birds are killed with one stone, and in this undertaking, development and realization, man is only delaying his security and enjoyment of the good things this second great Eden garden will, by the application of these God given waters, produce certainly seven fold and more, year by year as long as time runs. Over Two Score Banks in Southern Section Closed to Business (Continued from Page One) The American Exchange Trust company announced deposits of $15,014,589.41 on the date of the last bank call. The bank was capitalized at $1,000,000 and had a surplus of $500,000. A. B. Banks is president of the institution. The banks acted under an Arkansas state law which permits them at the end of five days to reopen or turn over their affairs to the state banking department. Closing of the National Bank of Kentucky at Louisville, which had announced resources of $54,000,000, was followed by the closing of four smaller Louisville banks, the McElwain Meguiar Bank and Trust company of Franklin, Ky., and the Bank of St. Helen's, a suburb of Louisville. Presidents of other Louisville banks issued statements asserting their institutions were solvent in every respect and would not be affected. At Paducah, Ky., the City National Bank of Paducah announced the purchase of the First National Bank of Paducah and the Mechanics' Trust and Savings bank of Paducah after negotiations lasting some time. State Funds Tied Up The four banking houses which have closed in Tennessee during the last two weeks were the Bank of Tennessee, a subsidiary of Caldwell and company; the Holston Union National bank at Knoxville; the Liberty bank and Trust company at Nashville and the Campbell County bank and Trust company at Jacksboro. Attorney General L. D. Smith of Tennessee has reported $5,700,000 in state funds were on deposit in the Bank of Tennessee, the Liberty Bank and Trust company, and the Holston Union National bank. A merger of the Fourth and First National banks into the American National bank has been announced in Nashville, as was the acquisition of the Tennessee-Hermitage National bank by the Commerce Union bank. The East Tennessee National bank, the East Tennessee Savings bank and the City National bank, all of Knoxville, have been merged into the East Tennessee National bank. Federal Judge John J. Gore in Nashville Monday ordered creditors of Caldwell and company to present their claims before next July first and enjoined any creditors or claimants from instituting separate suits against Caldwell and company and enjoined all parties to any suit now pending from proceeding further except by consent of the court. The Illinois banks which closed Monday were the Bartlett and Wallace State bank of Clayton and the Timewell State bank of Timewell. They were corresponding institutions of the State Savings, Loan and Trust company of Quincy, which closed Saturday. Two other banks which State Auditor Oscar Nelson said closed in connection with the failure of the State Savings, Loan and Trust company of Quincy, were the South Side bank of Quincy and the Payson State bank of Payson. Kentucky Hard Hit Louisville, Ky., Nov. 17. (AP)—Six Kentucky banks with resources totaling about $75,000,000, including the National Bank of Kentucky, which has been in business here 96 years, closed their doors today.


Article from The Dallas City Review, December 2, 1930

Click image to open full size in new tab

Article Text

ILLINOIS News Notes The recently reopened Bartonville State bank at Bartonville was held up by a robber, who took $10,000 in cash and escaped. Albert Miller, sixty-three, for 20 years an employee of the Goebel hotel at Granite City. committed suicide by hanging himself, The A. P. Eaton elevator at Allerton was sold by the federal referee in bankruptcy to H. S. Johnston of Danville for $7,750. Prof. Alfred O. Willgeroth was appointed director of music at Rockford college, succeeding Mrs. Laura Grant Short, who died recently. Cecil Sweasey, twenty-eight, of Blandinsville was burned to death when his automobile overturned on the hard read near Roseville. Joseph Pence, for many years highway commissioner of Pana township and brother of Jess Pence of Taylorville, died at his home in Pana. Thomas Watson, fifty-five, employed at Orient mine No. 2, died from burns received when a shot he was tamping in the face of the coal exploded. Abel Hanson, seventy-five was found dead of a shot gun wound on a brush pile near his home north of Morris. Police believed the death was accidental. Close to $25,000,000 Christmas savings will be distributed among 450,000 residents of Cook county. The figures were checked after 277 banks submitted reports. Three hundred members of the American Legion spent a day sawing down trees and chopping wood to be given during the winter to families of jobless men. Identified by an oil station attendant as the man who robbed him of $128, Fred D. Glidden of Kewanee has been bound over to the Champaign county grand jury. John F. Zeman, twenty-nine, of Peoria, was drowned when a boat from which he and two companions were hunting was overturned by rough water on the Illinois river. Displaying a Minkler apple that measured six inches in diameter and weighed eighteen ounces, Ralph Bryce, orchardist near Irving, claimed the record for raising the largest apple in Illinois this season. Two of the oldest banking institutions in Henry county were merged with the announcement of the consolidation of the First National Bank of Cambridge and the Farmers' National Bank of Cambridge. Mrs. Mary Lawson, Chicago, was elected regent of the Illinois Daughters of Isabella at the semiannual state convention in Bloomington. Kankakee was chosen for the next state meeting, to be held in May. Earl Hanson, principal of the Rock Island high school, was elected president of the Kiwanis club. Other officers named are: Vice president, Kenneth Popplewell: trustee, B. L. Burker: treasurer, Robert Gilloley. Rock Island detectives shot and killed Zoaney Merreighn, age thirtysix, father of four children. when they sought to arrest him on an arson charge. The detectives said Merreighn moved as though to draw a revolver. Kidnaped, his car and money stolen, and bound so securely that he lay helpless in a field for eight hours, Alof Anderson of Jamestown, N. D., an aviator, was found near Topeka by Walter Kleier, farmer, upon whose land he was left. The soup house plan has been abandoned in Danville after a vigorous protest by the chamber of commerce. It has another plan and will seek jobs for the unemployed. No plans for feeding the hungry while awaiting Jobs have been announced. Jobs for 10,000 men are to be provided by the first of the year through the construction of 13 new school buildings at a total cost of more than $20,000,000, according to the announcement of William J. Bogan, superintendent of Chicago schools. Stuart Walser, forty-five, cashier of the First National bank and receiver for the West Salem State bank, which has been closed about two years, shot and killed himself in his bank at West Salem. Members of his family said Walser suffered from asthma for years. Keeping company with a pupil is no grounds for dismissal of a teacher, a jury in Mercer county court ruled in awarding Miss Ella Deweiler $400 back salary in her suit against the New Boston board of education. The board "fired" the twenty-two-year-old teacher last December because she went around with Charles Bayner, a high school senior. Her first suit was dismissed, but on the retrial she was awarded the amount of her back salary. George Mayford, a member of the Alton city police department for more than twenty-five years, was appointed chief of police to succeed Peter Fitzgerald, elected sheriff November 4. Mayford has been a sergeant in recent years. Six small banks in Illinois and Missouri communities near Quincy have closed. These were the Farmers and Merchants of La Grange, Mo.; the Rutledge Exchange of Rutledge, Mo.; the Downing State of Downing, Mo.; the Bartlett and Wallace State of Clayton, III. and the Timewell State of Timewell, III.