Bank of New Windsor (New Windsor, IL)

Episode Information

Episode UID
70149271581
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7014927 routing
Routing Number
70-1492
Start Date
September 28, 1931
Location
New Windsor, Illinois (41.202, -90.442)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
19f2d5004d9050f8

Response Measures

None

Description

Articles state the bank closed and was placed in receivership but do not describe the specific trigger of the closure.

Events (2)
1. September 28, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed its doors on Sept. 28, 1931 and later placed in receivership; articles do not specify a triggering rumor or external shock.
Newspaper Excerpt
the bank closed its doors, Sept. 28, 1931.
Source
newspapers
2. October 1, 1931* Receivership
Newspaper Excerpt
Smith, receiver for the Bank of New Windsor, has collected total since appointment in October ... leaving balance in the receivers' hands $6,246.85. (Muscatine Journal, 1933-06-03) and Elmer Smith, receiver. (Rock Island Argus, 1932-02-26). The Rock Island Argus also references receivership activity and dividend mailings in Feb. 1932 and later consolidation of receivership offices in 1935.
Source
newspapers

Newspaper Articles (5)
1. January 12, 1932 The Rock Island Argus Rock Island, IL

Article Text

BANK RECEIVER Herman Peterson, Former New Windsor Cashier, Assigned to Affairs of Institution. (Special to The Argus.) New Boston, III., Jan. man former cashier of the Bank of New Windsor, which closed two months ago, has been appointed receiver the New Boston bank, closed Dec. 16. Mr. Peterson appointed Oscar Nelson, state auditor, and went to New Boston today with R. Clinton Jones, state bank examiner, commence his duties. The New Boston bank and the Peoples bank New Boston merged last spring under the name the New Boston bank. At the last statement, Sept. 30, prior to New Boston bank showed total resources of $262,228,57, and total deposits of $191,257.71,

2. February 26, 1932 The Rock Island Argus Rock Island, IL

Article Text

TO PARTLY PAY CLAIMANTS Checks in Connection With Closing of Bank of New Windsor Be Malled Out. (Special to The Argus.) New Windsor, III., Feb. Checks amounting will mailed this week to of the Bank of Windsor, according statement issued Elmer Smith, receiver. dividend of cent awarded to the creditors, now it, this amount being paid in two checks. Five per taken from the receivership fund and per from the stockholders' assessment fund. Mr. Smith's report of Feb. 1932, shows that since he was pointed he has collected total for the fund, and has been paid to the stock assessment fund by the stockholders, making the total collections both funds to total $28,516.06 has been paid on the borrowed money which the bank closed its doors, Sept. 28, 1931. The port ance of the general fund. When the per cent dividend taken out, balance $11,000 will remain, held in reserve to preferred claims any liability account of the balance due on borrowed money.

3. June 3, 1933 The Muscatine Journal Muscatine, IA

Article Text

Reports Condition of Banks in Mercer County Shown. Aledo Receiver's reports four closed Mercer banks were filed Friday in Mercer county circuit court with Judge Paul Califf on the bench. All reports cover the business closed banks from the date receiver until May Smith, receiver for the Bank of New Windsor, has collected total of since appointment in October totaled leaving balance the receivers' hands $6,246.85. Heavy ditures included salary penses of receiver expense and fees and dividends totaling $25,Total reported Morgan, for the Farmers State bank Burgess. total leaving receiver's balof This bank placed the hand of the receiver Dividends taling have been paid, Receiver's saalry and have totaled and attorney's fees and expenses amounted to Dividends totaling have been paid by the State bank of which Louis Barnes receiver. His report shows total receipts of and Barnes was appointed as The for the State Bank New show receipts since Dec. 1931 totaling Dissince that time total leaving in receivers account. Dividends totaling $18,709.87 have been paid. receivers salary and expenses totals for Vote

4. October 4, 1933 The Muscatine Journal Muscatine, IA

Article Text

State Banks County Merged Banks in Receivership in MerCounty Will Be Liquidated. Aledo all closed state banks which are in receivership, with liquidation under one organization, was announced Tuesday through the state auditor, Edward Under the plan, all business will be handled through closed Aledo State bank, which will used county headquarters, with Conners, former for the Citizens State bank of Keithsburg, in charge as 'deputy ceiver. William O'Connell of Chicago will be the receiver in charge. Stuart Boultinghouse of Aledo has been named as county field of the ceiver. For the present some of the present bank receivers will to assist in organization work. Closed state banks which affected by new order the Aledo State bank, the State bank, the farmers State of Burgess, the New Boston bank State bank, Farmers State bank North Henderson, the bank of Windsor in New the Farmers State bank in New Windsor, the Sherrard State bank State bank, the the Preemption Farmers bank of Preemption the Farmers bank of Reynolds. The order effective at once of bringing the records and work Aledo has already been started. Mr. Conners, the deputy receiver, former state bank examiner been receiver of the and has bank Keithsburg for closed in three years. Boultinghouse, who associated with him, member of the firm and sons of Aledo.

5. 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.