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NAME REYNOLDS BANK RECEIVER Harry E. Thompson of Rock Island Placed in Charge of Accounts of Farmers State. (Special to The Reynolds, III., Sept. Thompson, 1600 street, Rock Island, has been named ceiver for the closed Farmers State bank Reynolds. Mr. Thompson in charge of justing the bank's affairs pected have statement ready the future showing the standing the bank's accounts. bank closed Sept. folThe withdrawals over long period.
SOUGHT Approval of Harry Thompson Four the Farmers' State bank Reynolds, which Sept. asked bill filed in Rock Island county circuit court today by Reidy Rock Island for the attorney genThe suit is brought by Attorney General Oscar Carlstrom Oscar auditor of public counts of Illinois against the bank. school. The findings state bank married in an audit of bank's Her fairs are set out follows: fixtures, $8,094.01. Total, brother, $25,000: Louis. Capital Joseph's The The bill claims there was in cash hand the St. the bank's closing; that capital the being and that assets listed Aid duties of the ceiver the bank asked of the court. Rock awarded to Mr and Mrs W. Davey Pleasant Valley, and Mrs Nelson Rock and land. luncheon table was tractively decorated with red. white. blue, and the menu carried out the same colors. Miss Mary Benld, coming Rock Island for the installation the women's to the Order Brith Sunday district meeting the order, will speaker the Friday services at Beth Israel ning addition to the address by Miss Katz, will review of the "Green play, The choir will give special of Sabbath melodies. Ruth's Band Meets Mrs 2103 EightRock Island, Mrs Mrs Mrs SniveAnderson entertained regular meeting of Ruth's Mission band Presbyterian church, Broadway Island, yesterday afternoon her home. Miss Margaret Walker led devotional service and Miss read from the study Montgomery Ambassador the Near East." Tea was served at the close of the meeting. On Dec. the annual Christmas tea be held at the home Davis, 605 street, Rock Island. ation Fathers Night Friday Father's be held night school the Parentthe Irving Teacher association Friday, Nov. and friends invited. John Hauberg are talk and program will be given during the The program will include tions the Harmonica the the saxophone giving school; Corder James Billy Rinck: numbers Betty Greenleaf, and Guy Salle; piano by Cather- be ine Beers and Jereme Jaecke, and voices from fourth, fifth and sixth grades. Second Circle Meets the Ladies' Aid society the Spencer Memorial Methodist church met yesterday afternoon he home of Mrs Williams, street, Island. regular meetand annual bazaar Gensociety will held Thursday, 19, at the home Mrs B. Stoaks, 809 Fortyfourth street, Rock Island. The December meeting will winter picnic home David, 621 street, Rock Island. Mrs Hans Hanson will serve picnic refreshments. To Have Contest Monday Under direction Rock Island Mrs Custerm, director gold medal contest for young the Trinity Episcopal church, The program will addition the High Scandal' which will directed by Mrs Custer. Athletic Club to Meet A. bridge party will be held by members the Woman's Athletic of Rock Island. The party will be held the home of Harry Eng. 2427 Twentieth avenue, Rock Island, Mrs George Clapper, assistant hostess and will begin Evans Circle Meets Ethel Evans circle of King's afternoon the Mrs Fred street, Rock Mrs Charles Miller hostess. The circle donated $10 to the Bethany Home and Visiting Nurse association drive, and ported garments cut made distributed the Welfare associclothing depot in October. basket will filled for family Thanksgiving day Mrs George Townsend. 1308 Twelfth street, will the circle luncheon Christmas party at her home, Dec. Longfellow meet Friday afternoon school. Thanksgiven by Rev. Evangelical Church program appropriate Thanksgiving day given. May Apply for Class may be the class the Rock Island and young who wishes ball team asked register at the association
Auditor Instructs Receivers That Applications Are Be Made for Advances. Four closed banks of Rock Island county will among the 203 closbanks of Illinois receivwill make application for loans from the federal nance Uncollected sets of these banks represent roughly face value. Of these portion likely be that would not be acceptable for pledges to the ReconstrucThe two largest banks in this county that are closed are the Commercial Savings bank, Moline, which has million dollars, round figures. of uncollected assets, face and the State bank of East Moline, which has something less than unliquidated assets at face value. The depositors of the Commercial bank have received 10 per cent dividend. amounting to about $150.The depositors of the Manufacturers bank have received dividends to 19 per cent the of claims of depositors and $170,000 bills payable. The bank had assets of face value. when closed. Charles Smith, receiver for the Commerbank, and Oscar Ohlweiler, ceiver for the Manufacturers bank, said they had not determined what portion of remaining uncollectassets might be used basis for an application for loan. Cole, receiver for the Fifth Avenue Savings Bank and Trust company, Moline, estimates that uncollected assets of that bank, face value, amount to about $425,000. Depositors bank have had one 10 per cent dividend and another will be paid soon. The first amounted to in round figures. Harry E. Thompson, receiver for the Farmers State bank of Reynolds, has made 20 cent distribution. That bank had assets rated and the receiver's collections have been about $80,000. The assets are partly second mortgages, chattel mortgages and unsecured notes, and only survey would determine what portion might be useful as security for corporation loan. Associated Press dispatches from Springfield today said that Oscar Nelson, auditor of public accounts. the receivers banks to apply for loans. The instructions were issued of the amendment giving bank the power to pledge for loans. The money borassets rowed corporation would used to pay depositors. The amendment giving the quired authority receivers pected to be made effective within days proclamation from Governor Louis Emmerson. has been made regarding the type of securities ceptable by the corporation for loans. Nelson said everything possible would done the money distributed to depositors quickly as possible.
EVANSTON MAN IN CHARGE OF CLOSED BANKS Fred W. Allen Appointed to Replace Pemberton as Deputy Receiver. OCCUPIES SKINNER HOUSE May Be Placed in Control of Commercial, Fifth Avenue Institutions. Fred W. Allen of Evanston today relieved G. Herbert Pemberton as deputy receiver of the Moline State Trust and Savings bank; the People's Savings Bank and Trust company of Moline and the Manufacturers' State bank of East Moline. William L. O'Connell of Chicago. appointed receiver for banks which have closed since Edward J. Barrett has been state auditor, made the appointment, replacing Mr. Pemberton because he has assumed his duties as president of the Rock Island Bank and Trust company. It is understood that the state auditor's office plans to establish deputy receiverships for banks within counties, which may mean that the auditor will appoint Mr. Allen as deputy receiver in charge of the closed Commercial Savings bank of Moline and the closed Fifth Avenue Trust and Savings bank of Moline. Charles J. Smith of Moline is now receiver for the Commercial bank and R. A. Cole of Moline is now receiver for the Fifth Avenue institution. Mr. and Mrs. Allen have moved to Moline, establishing their home in the Skinner residence at 1217 Eleventh avenue, Moline. They have four children, three of whom are attending Moline elementary schools and one a junior high school. Has Been Receiver. Mr. Allen has been deputy receiver of the Papanel: Kovac state bank and the Kaufman state bank during the last eighteen months. These banks have now been placed in a group with several others under one deputy receiver. For seventeen years Mr. Allen was connected with the First National bank of Chicago and for five years he was manager of the foreign exchange department of the Northern Trust company, Chicago This week all closed banks of Mercer county were placed under the supervision of one deputy receiver, J. M. Connors. The receivership of the Farmers' State bank of Reynolds, it is understood, will be placed in the Mercer county group instead of the Rock Island county group. For the time being, Harry E. Thompson of Rock Island remains in charge of the bank as receiver.
ALEDO WORK OF BANK RECEIVER TO BE SHIFTED Offices for 11 Closed Mercer Institutions Will Be Moved to Moline. Receivership offices for 11 closed Mercer county banks are being transferred from Aledo to Moline, J. M. Connors, deputy receiver in charge of Rock Island and Mercer counties, announced today. The receivership offices will be combined with those of Rock Island county in the Fifth Avenue bank building, 1611 Fifth avenue, Moline, Mr. Connors announced in behalf of William L. O'Connell, receiver for all closed Illinois state banks. The bank receiverships in Mercer are those of Aledo State bank of Aledo, Farmers State bank of Burgess, Citizens State bank of Keithsburg, Matherville State bank of Matherville, State Bank of New Boston, Bank of New Windsor, Farmers State bank of Windsor, Farmers Bank of North Henderson, Farmers State bank of Preemption, Preemption State bank of Preemption, Farmers State bank of Reynolds. Mr. Connors said consolidation will make possible considerable reduction of personnel and thus result in savings in the administration of the receiverships. The Mercer county banks have been under the jurisdiction of Mr. Connors for some time, making necessary numerous trips to Aledo which will be eliminated by the new arrangement. Elmer Smith and G. S. Greer, who have been in charge of the Aledo office, will be transferred to Moline and other employes of the Aledo office will be dismissed, it was said.