Matherville State Bank (Matherville, IL)

Episode Information

Episode UID
70144371582
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7014437 routing
Routing Number
70-1443
Start Date
October 5, 1931
Location
Matherville, Illinois (41.260, -90.608)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
793d69231046c496

Response Measures

None

Description

Bank closed voluntarily due to depreciation of bond assets; receivers appointed and liquidation pursued.

Events (3)
1. October 5, 1931 Receivership
Newspaper Excerpt
Receivers for both the bank and for the stock assessment were named in each state bank closing, and the new order will merge the liquidation and collections under one head.
Source
newspapers
2. October 5, 1931 Suspension
Cause
Voluntary Liquidation
Cause Details
Board of directors closed the bank voluntarily after depreciation in value of bond holdings during the depression.
Newspaper Excerpt
The bank, which closed Oct. 5, 1931, has paid 67 per cent in dividends to depositors.
Source
newspapers
3. November 2, 1931 Other
Newspaper Excerpt
Stock assessment suit to fix liability of stockholders of the defunct Matherville State bank has been filed in circuit court of Aledo by three depositors.
Source
newspapers

Newspaper Articles (4)
1. November 2, 1931 The Rock Island Argus Rock Island, IL

Article Text

BANK LIABILITY STARTED IN ALEDO COURT Stock Assessment Sought tion Opened by Creditors of Closed Matherville Bank. (Special to The Argus.) Aledo, III., Nov. to fix the liability of stockholders of the defunct Matherville State bank has been filed in circuit court of Aledo by three depositors on their own behalf and for all other creditors the bank. bank organized Sept. 24, 1920, capitalized at $15,000 and closed voluntarily Oct. this year. Most of the bank's assets diversified list bonds and the depression of values of such bonds brought about action of the board of directors. Louis of been Savings accounts of the bank are listed certificates of deposit, $3,200; demand deposits, those holding bills payable to the bank. none: those holding standing drafts, Attorney Paul Graham of Aledo filed the suit and the stockholders are George Adams, John Adams, John Buyan, Carroll Bopp. Mike Bugos, Corwin Bopp, Vernon Clark and Paul Child. Clark Child: William Coltman, James Child, Caddy. John Durney, William Frye. Amiel Frye, Paul Greenwood. George Gooden, Donald Gillogly, Ben Gifford, Ann Hebblin, Adolph Hagman, Charles Hagman, Dave Hakman. R. Howie. W. JohnB. Johnson, Matt Juras, Jackson, John Jones, Mary Jones, Stanko Kauzlarich, John Matejzel, Dan Milner. Ell Maynard, Mike Mack, administrator James Mack, John Malkenec, Moline. Hugh McGonigle, James O'Rourke. Oscar Charles Margaret Hagman, Anton Gulick. Ida Peterson. Dave PritchGeorge Ruzich, Mary Sass, Schroeder. Harvey Wood, Whan and Joe Perkey.

2. February 7, 1934 The Rock Island Argus Rock Island, IL

Article Text

Candidates in Mercer (Special to The Argus.) Aledo, III., Feb. Blaine Viola today announced candidacy for the Republican nomination for sheriff of Mercer county, and Louis Barnes of Preemption announced he candidate for the Democratic nomination for county treasurer. Mr. Blaine has never before office. He married, and has been operating near garage Viola for last 14 years. Mr. Barnes is farmer. He served for the last two years ceiver for the Matherville bank, and present official crib sealfor federal corn loans.

3. April 24, 1935 The Rock Island Argus Rock Island, IL

Article Text

MATHERVILLE BANK RECEIVER REPORTS Louis J. Barnes Completes Work at Closed Institution. Aledo, Ill., April 24.—(By Argus News Service)—A report covering collections from stockholders of the closed Matherville State bank is being prepared by Louis J. Barnes, of Preemption, receiver of the stockholders assessment fund, and will be submitted to William L. O'Connell, receiver of the bank who will take charge of the stock assessment fund. Receivers for both the bank and for the stock assessment were named in each state bank closing, and the new order will merge the liquidation and collections under one head. Collections from the Matherville stockholders have been unusually high, a total of 93 per cent of the $15,000 capital stock having been collected by Mr. Barnes. The bank, which closed Oct. 5, 1931, has paid 67 per cent in dividends to depositors. Mr. Barnes was receiver for the bank until the closed banks of Mercer county were merged for liquidation under Mr. O'Connell. A total of $665.28 in the assessment fund will be paid by Mr. Barnes to the new receiver.

4. September 11, 1935 The Rock Island Argus Rock Island, IL

Article Text

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.