Payson State Savings Bank (Payson, IL)

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SIX MILLION DOLLAR BANK FAILS TO OPEN

NEWS SERVICE] QUINCY, III., Nov. 15-The Quincy State Savings, Loan and Trust bank and three branches, with deposits approximately $6,000,000 failed open for business here this morning. branches Broadway State Savings, the South Side State Savings the Payson, State Savings banks. Payson about 20 of here. estimated that about half of Quincy's deposits these banks the Ricker National bank which closed today. The State Savings, Loan Trust reported have $7,000,000 out farm loans.

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THREE BANKS IN QUINCY FORCED TO CLOSE DOORS

BANK EXAMINERS TAKE CHARGE OF

Two Affiliated Banks Outside of City are Affected

Ill., Nov. Quincy banks in the hands examiners tonight and two filated in towns Illinois Missouri were closed. The banking after weathering heavy run remained open for the usual Saturday evening they would business usual week The was highly state, by long waiting withdraw funds. of leading signed statement in the Herald Whig and Journal that the banks would continue the Depositors were urged to make their customary deposits and hysteria. Blame Land Shrinkage president of the State Savings and Trust blamed the situation the shrinkage farm land values. closing his bank, oldest this part the brought the to crisis and followed by the closing branch bank here and one Payson, miles away and of Novemstate bank in Green City, correspondent QuincyRicker National closed doors succession started week when the institution. only national bank in the closed. The State Savings Loan and Trust company had deposits when statement The South State bank and the Payson State Savings bank branches, closed during the run started the Broadbranch, but weathered slaught noon there normal. Throughout the (Continued on Page Ten)

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Three Banks Close At Quincy, III., Others Weather Run

Three Quincy banks were in the hands of bank examiners tonight, two affiliated institutions in small towns of Illinois and Missouri were closed and the remaining banking institutions of this city, after weathering a heavy run of withdrawals, remained open for the usual Saturday evening business and announced they would do business next week.

A group of leading citizens here gave assurance in statement appearing in the afternoon Herald Whig and Journal that the remaining banks would continue to serve the public. J. W. Gardner, president the State Savings, Loan & Trust company, blamed the situation on the shrinkage of farm land values. The overnight closing of his bank, oldest in this part the state, was followed by the closing of branch bank here and one in Payson, Ill., 15 miles away On Nov. 3 state bank in Green City, Mo., correspondent of the failed Quincy-Ricker National bank, closed. The succession of shutdowns started week ago when the Quincy-Ricker institution only national bank in the city, failed. The State Savings, Loan, & Trust company had $6,216,000 deposits when its last statement was issued, and $1,000,000 capital. The South Side State Savings bank and the Payson State Savings bank at Payson, branches, closed during the morning A run was started on the Broadway State Savings bank, another branch, but it weathered the onslaught and by noon conditions here were normal.

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THREE ILLINOIS BANKS CLOSED

Quincy Institution With $6,216,000 in Deposits and Branches Fail.

QUINCY, Nov. Three Quincy banks in the hands of bank examiners tonight, two affiliated in small towns of Illinois and Miswere closed and the remaining banking institution of this city, after heavy run the day, remained open usual Saturday night and said they would do busiweek. The was in highly state, by long lines of customers waiting winto withdraw funds. group leading citizens, gave the banks would to serve the public. Depositors urged deposits and sential withdrawals without hysteria. Gardner president of State Trust the situation the of farm land values. overnight of his bank, oldest this part the state, brought the crisis and by the closbranch bank and one Payson. III., miles away. On Nov. 13 state bank in Green City, Mo. correspondent of the failed National Bank, closed. succession shutdowns started week ago when the National Bank, national bank in the failed. The State Savings, Loan and Trust Company had $6,216,000 deposits when Its last statement issued, and $1,000,000 capital. The South Side State Savings Bank the Payson State Savings Bank Payson, branches, closed during the morning.

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PRIEST SLIPS FOR ART STIRRED BY BANK RUNS

NOT FOR LOVE OF GIRL HE WED, MOVIE COMPOSER INSISTS.

Father Francesco Magliocco, Who Vanished From New York Is Found as Successful Musical Director in Hollywood.

(B# The Star's Leased Wire Service.) HOLLYWOOD, CAL., Nov. 15.-A scant fifteen months ago, Father Francesco Magliocco intoned a high mass from the altar of New York City's greatest Italian church, Our Lady of Mt. Carmel. Mass over, he quietly folded away his priestly vestments and vanished.

And with him vanished the tall and slender beauty of his choir, Antoinette Motta. Behind them-the priest, 50, Antoinette, 25-the couple left a storm of whispered reports. Today, in the white glare of Hollywood studio, the mystery of the vanished priest and the choir singer was solved. Father Francesco Magliocco was revealed as the musical director who had been Hollywood sensation in the last few months. The man the movie world knew as Francesco Magli, inspired composer of the score for forthcoming movie music drama and husband of Signora Antoinette Magliocco, father of an infant child. admitted he was the for- mer Bronx priest.

When father Magliocco disappeared from New York was reported he had quarreled with the diocesan authorities over their failure to appoint him musical director at St. Patrick's cathedral. He believed his artistic abilities entitled him to the position. It was to his love of music that the priest today ascribed his desertion of the altar for the movie studio. "I did not quit the church because of love of woman," he cried excitedly. left because reached the conviction it was all wrong for me to follow the priestly life. love music. wanted to devote my entire time to it. At last, could stand it no longer. Now, am free-free, and for the first time in my life am happy. "My wife is beautiful woman, wonderful mother and competent wife. We are very happy together. sit here all day long teaching. composing and arranging musical scores She manages the household. She will be back here with me before long, bringing our little son, who has been named for me. The ex-priest explained his wife had returned last summer to the Bronx home of her family, so her child might be born there.

(By the Associated Press.) QUINCY, ILL., Nov. 15.-Three Quincy banks were in the hands of bank examiners tonight, two affiliated institutions in small towns of Illinois and Missouri were closed and the remaining banking institutions of this city remained open for the usual Saturday evening business after weathering heavy run of withdrawals through the day. The community was in a highly nervous state, proved by long lines of customers waiting at windows to withdraw funds. A group of leading citizens, however, gave assurance in signed statement appearing in an afternoon paper that the remaining banks would continue to serve the public.

BLAME ON FARM CONDITIONS. J. W. Gardner, president of the State Savings Loan and Trust Company, blamed the situation on the shrinkage farm land values. The overnight closing of his bank, oldest in this part of the state, brought the situation to crisis and was followed by the closing of two branch banks here and in Payson, III., fifteen miles away. and state bank in Green City, Mo., correspondent of the failed Quincy National Bank. The succession of shutdowns started week ago when the Quincy-R National Bank. only national bank in the city, failed. The State Savings Loan and Trust Company had $6,216,000 deposits when its last statement was issued, and million dollars capital. The South Side State Savings Bank and the Payson State Savings Bank at Payson, branches, closed during the morning.

ONE WEATHERS RUN.

Three Institutions Are in Hands of Examiners, Two More Nearby Quit, and Others Take Safety Measures.

A run was started on the Broadway State Savings Bank, another branch, but it weathered the onslaught and by noon conditions here were normal. All day long, however. long lines of depositors filed into the Mercantile Trust and Savings Bank and the Illinois State Bank, downtown banks. and the State Street Bank and Trust Company in South Quincy, seeking to withdraw their funds. The latter is the largest bank of the community Assurances were given that there was no danger of their closing but the nervous throngs paid little attention. To avert further sapping of their cash the banks agreed to remain closed A committee of leading merchants and manufacturers met this afternoon for several hours and discussed methods of relieving the tensity Several banks received large shipments of money from Chicago and St. Louis, and all said they expected to ride the storm by the 60-day notice clause relating to withdrawal of savings deposits. U. S. COURT IN SPRINGFIELD. Judge Reeves Will Rule on Approximately Fifty Cases.

Judge Albert L. Reeves will open the fall term of the United States district court at Springfield tomorrow with docket of approximately fifty criminal cases. Most of the cases will be of liquor and narcotic nature. No federal grand jury will be called at Springfield this term, William L. Vandeventer, United States district attorney. said yesterday.

QUINCY, ILL.,IN A NERVOUS STATE, AFTER CLOSINGS.

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CLOSE AFTER

Houses in Hands of aminers as Nervous Throngs withdraw Deposits

QUINCY, Nov. Three Quincy banks were in the hands bank examiners tonight, two affiliated institutions in small towns of Illinois and Missouri were closed, and the remaining banking institutions this city shut their doors without the usual Saturday evening business after heavy run of withdrawals throughout the day.

Community Nervous The community was in highly nervous state, evidenced by long lines of customers waiting at windows to withdraw funds. group of leading citizens gave assurance in signed statement appearing the afternoon Herald Whig and Journal that the remaining banks would continue serve the public. Depositors were urged to make their customary deposits and essential withdrawals without hysteria. W. Gardner, president of the State Savings Loan and Trust company, blames the situation the shrinkage of farm land values.

Oldest Bank in Section The overnight closing of his bank, oldest in this part of the state, was followed by the closing of branch banks and in Payson, away, and state bank in Green City, Mo. The succession of shutdowns started in the failure of the National bank, only national bank in the city. The State Savings Loan and Trust had $6,216,000 deposits company when last statement was issued, and $1,000,000 capital. The South Side State bank and the Payson State Savings bank at Payson, closed during the morning.

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BANK CLOSED FOLLOWING FAILURE OF RICKER

President Of State Savings Loan & Trust Company of Quincy Charges Failure His Bank To Shrinkage of Farm Values

The Bank of Green City, for some time the only operating bank of the town, which closed early last week, still in the hands of the State Finance Department. F. A. Guiles charge and the bank will remain in the hands of the State Finance partment until satisfactory arrangements are perfected for its reopening.

The capital stock of the bank was $20,000. Myers was cashier and E. Pfeiffer president. The closing of the Quincy Ricker National Bank of Quincy, III., is assigned as a reason for the closing of the Bank of Green City, the Quincy Ricker being correspondent of the Green City bank.

The State Savings Loan and Trust Company of Quincy closed last Saturday and smaller banks in Missouri and Illinois suffered because of their business relations with the banks that had suspended active business. Quincy, III., Nov. Quincy banks were in the hands of bank examiners tonight; two affiliated institutions in small towns of Illinois and Missouri were closed. and the remaining banking institutions of this city, after weathering a heavy run of withdrawals, remained open for the usual Saturday evening business and announced they would do business as usual next week. J. W. Gardner, president of the State Savings Loan and Trust Company, blamed the situation on the shrinkage of farm land values. The overnight closing of his bank, oldest in this part of the state, brought the situation to crisis and was followed by the closing of two branch banks here and in Payson, III., 15 miles away. On Nov. 13, a state bank in Green City, Mo., correspondent of the National Bank, closed its doors. The succession of shutdowns started week ago when the institution, only national bank in the city, closed. The State Savings Loan and Trust Company had $6,216,000 deposits when its last statement was issued, and capital. The South Side State Savings Bank and the Payson State Savings Bank at Payson, branches, closed during the morning. Mr. Gardner's bank was founded by C. H. and Lorenzo Bull, pioneers who gave the original institution their name. His statement on the closing of the bank and its branches said: "The closing was decided upon as the only way to save the assets of the bank. The steady withdrawals by both savings and commercial depositors since the closing of the Quincy Ricker made heavy inroads on the bank's quick assets, and there was every indication that the condition would continue. The principal cause of the bank's difficulties is the situation in regard to farm loans. The business was established and developed through the business of farm loans since the days of the L. & H. Bull Bank. The very condition that made the bank is now the cause of its trouble. Farm values have shrunk from 40 to 60 per cent. The bank has these loans assets. but not liquid. It too early too talk of the bank's future. believe there are sufficient assets so that the depositors will not lose."

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Eight busts of noted Illinois newspaper men were unvelled the dedication of the editors' Hall of Fame the University of Illinois, November 22. Twelve men, now deceased, have been chosen for this honor and the four unfinished busts will be completed and placed in the hall during the coming year. The names of the 12 are follows Victor Fremont of the Chicago Daily News: Joseph Mebarry Medill. builder of the Chicago TribElijah Parish Lovejoy. martyred anti-slavery editor of the Alton Observer: Henry Wilson Clendenin, pioneer editor of the Illinois State Register, Springfield: David Wright Park ley. editor of the model country news paper of southern Illinois at Fairfield. the Simeon Francis, dean of Illinois editors in the 40s and 50s, founder the Illinois State Journal, Springfield: William Osborne Davis, builder of distinguished community daily, the Bloomington Pantagraph: Elijah Stone, founder of the Associated Press and champion of unblased news reports: John Waterbury Clinton of northern Illinois Press, Polo: John Bailey, builder of the world's larg high grade country weekly Princeton: Edward Wyllis Scripps, founder of the United Press, Scrippsenterprises. and patron Science Service: Henry Means Pindell. of the Peoria Journal and Transcript. The presentation address was made by Charles Eichenauer. editor the Quincy Herald and acceptance by Gov. Louis Emmerson. member of the board of trustees for the University of Illinois. John H. Finley. editor of the New York Times, delivered the main address. Committees for the dedication were cago Daily News: Williamson United States Publisher Printer Raboin. Chatsworth Plaindealer Murphy University of Illinois. Ad visory, White, University linois. Hall of Fame. M. Wood, Flora Journal Record: Bowen. Illinois State Journal Raboin: Murphy. University of Illinois Dertinger. Bushnell Record: Hout Champaign Burrows, Courier Adams Sholis. Daily Illini: John Associated Press: Don Chamberlain, United Press.

An order Issued by Chief Justice Frank Dunn and filed in the office Charles W. Vall. clerk of the IIII. nois Supreme court. cited Judge Silas Cook the circuit court Washing ton county to show should not Issue the Cir cuit court order straining Modern Woodmen of America from collection of rates under the plan adopted by the head officers the organization. The case heard by the Supreme court the next term convening on Decem-

Charles W. Hadley, chairman of the tended meeting the Glencoe Chamber of Commerce November Before group business North Shore suburb the Mr. Hadley's Enforcement Relates Mr. Hadley spoke con cerning the tendency of Influences political thus many business men are

Mayor John Coleman. of Mt Carmel. member the statewide activities committee the governor's commis and relief. has put forth special effort with others his hasten the calling for the Wabash river bridge at that place $750,000 project. The Illinois department public works and build Ings has set December as the date for receiving bids.

Mrs Rexroth. wife of Rexroth. for many years head the supply department the secretary office the state house, died recently The funeral occurred the home Waterloo.

When the Supreme court of Illinois convenes on December the court will face one the lightest dockets recent years as shown the calendar prepared by Charles Vail. clerk the court. The call of the docket will finish on Monday. December But nineteen petitions for writs certiorari, including ber carried over from the October term. will be before the court for consideration.

The corn yield in Illinois will be bushels below normal, averaging bushels per acre. says Surratt. federal and state agricultural statis tician.

Pneumonia has been reported in Illinois late at the rate of over 200 fresh cases every week. according Dr. Andy Hall. state health director Colds. dissipations, poor nutrition, bad ventilation and any thing else that lowers bodily resistance helps cold weather to bring pneumonia, he connection with the lifting of the rabies quarantine Cook county, Director Stuart E. Pierson, of the state department of agriculture, has out some statistics for the year compiled by Arnold H. Kegel, commissioner public health for Chicago. There have been 554 human beings bitten by dogs, 221 of whom have taken anti-rabies treatments and none of whom have died. Dogs impounded in 1930 totaled 229 dog heads examined, and dog heads found positive.

It is now expected that the new mental hospital at Manteno will be opened in December with capacity for 1,200 patients, later increasing this to 6,000 The buildings now about ready for occupancy include eight ward buildings, two stories in height. with half basements; and administration building housing offices and dormitories employes: two separate dormitories for employees and five room bungalows for physicians and their families, and power plant.

Suggestions for raising funds for lief work to be done by the local committees formed under the suggestions of Wayne Hummer. chairman of the governor's commission on unemployment relief. Contributions from business concerns, individuals and employed persons (voluntary pay roll deduction) and organizing fund raising movements. Five suggestions for fund raising given are: Stores to hold special sales and give percentage of sales: church and club suppers and special movie nights giving percentage of receipts, social functions card games. and school dren's "mite" boxes. is recommended that the organized charities in any locality are able to handle the relief for those who are suffering because of unemployment. the relief committee should only co-operate and assist the agencies already estab-

Gasoline tax money received by counties may be used in payment of outstanding road bonds issued to construct state aid roads, Attorney General Oscar Carlstrom has written the state's attorney Joliet.

Mail trucks are to be used soon in Lake county because the annuling of trains the Wabash has towns with only one mail out during the morning and the evening. Starting Decem her truck leave Hannibal for Pittsfield. Winchester and Another truck will start from Louisiana the head for Pittsfield. The turn made in the afternoon

Sessions of the Illinois Conference Public Springfield largely attended welfare being the central Miss Edna man. superintendent child welfare. had much to do with the of program that exceptionally practical Bowen state of charities. and Col. Frank Whipp superintend ent prisons and many other state officers were among those helped make success of the sessions. Governor Emmerson spoke the opening session together with Prof. Breckenridge of president of the conference. and Dr. William Bryan. superintendent of the Worcester (Mass.) State hospital. Many authori ties from outside the state were heard on the 12th and 13th. effort co-operate with the unemploy relief announcement made by John Gilchrist president of cago Illinois Midland Railway company that improvements amounting $300,000 planned for 1931, will be started immediately order furwork for between 400 and 500 during the winter months. Ordinarily these would not have been started until April They will Include the additional yard tracks at Springfield. $45,000 electric system Springfield. $55,000: rebuilding telephone line and dispatching system,

The largest bank in Quincy, the State Savings Loan and Trust company. with capital of and deposits upward $6,000,000, according the last statement, was closed by State Auditor Oscar Nelson. Two other banks. subsidiaries of the State Savings Loan and Trust company also closed. They were the South Side State Savings and the Payson State Savings bank Payson.

Kidnaping the bride just she was entering the Free Methodist church Taylorville married. Eugene Kelly halted the wedding of his mothMrs. Belle Kelly, to James Long, Mrs. Kelly sent to spend the winter with her daughter and Mr. Long was left waiting at the church.

While there decrease in tourist the past the Illinois Chamber of Commerce reports after survey of such travel 150 Illinois cities that this state there were practically the same number guests last year. Part this due to publicity given by the cities and part to the Illinois Tourist Guide. published the state chamber and the state Illinois Anvone wishing copy of this guide should write to Secretary State William Stratton Springfield and one be mailed free.