Pearl City State Bank (Pearl City, IL)

Episode Information

Episode UID
70152371597
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
7015237 routing
Routing Number
70-1523
Start Date
January 13, 1933
Location
Pearl City, Illinois (42.265, -89.826)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
9aaac73f197f5ac0

Response Measures

None

Description

OCR errors present in names; exact failure date not given in these clippings.

Events (4)
1. January 13, 1933 Receivership
Newspaper Excerpt
receiver, H. Altemeler, amounts equal to the stock held by them at the time of the bank failure, an action has been filed in the circuit court
Source
newspapers
2. January 13, 1933 Suspension
Cause Details
Bank closed and placed in receivership (failure), specific trigger not stated in these articles
Newspaper Excerpt
Becking to have stockholders of the defunct Pearl City State bank...receiver, H. Altemeler
Source
newspapers
3. February 3, 1934 Other
Newspaper Excerpt
PEARL CITY STATE BANK RECEIVER ANNOUNCES PLAN HASTEN...All persons indebted to the bank requested...the bank will be open between and each day the next ten days...to fill out questionnaires.
Source
newspapers
4. October 11, 1934 Other
Newspaper Excerpt
authorization for payment of a dividend has been received from Chicago...The dividend will be 30%...it is expected that the dividend will be paid within the next thirty days.
Source
newspapers

Newspaper Articles (5)
1. January 13, 1933 Freeport Journal-Standard Freeport, IL

Article Text

STOCKHOLDERS WOULD THEM $100 EACH SHARE HELD Becking to have stockholders of the defunct Pearl City State bank pay to the bank receiver, H. A1temeler, amounts equal to the stock held by them at the time of the bank failure, an action has been filed in the circuit court the law firm Green by Wheat under the caption of M. John Mishler and Edna Neebel. The bill sets forth that, under the statutes. stockholdliable for the amount of ers held $100 par, the time the closing forth the stockholdtogether with the shares stock held by each: Albert Althoff. 10; August Althof, Charles Althof, 10; Fred Henry Althof 10; Otto Althof, H. Aurand, 60; estate of mina Dow, Frank Hurd, 50; Edward Tollemeier, 10; Lillie Tollmeier, 10. Dentist Sued for $10,000 expected charge malbe made against James Brown, local dentist, when the bill is filed in an action, the praeof which was filed in the circult court yesterday, under the caption Erma Phillips vs. James Brown. The action one of trespass on the case. The plaintiff the wife of Maurice Phillips and employed the Emmert drug store. will be alleged, according to torneys interested in the case, that the dentist in extracting tooth for the complainant broke off the molar, which cause velop and threaten Mrs. Phillips with lockjaw. will be further leged that she became quite and remained for several months result the extraction. The bill filed by the law firm of Green Wheat. Divorce Action Attorney E. Laughlin has filed bill for divorce the circuit court on behalf of Elsie Freeport, and James Fordyce. is charged.

2. August 24, 1933 The Pearl City News Pearl City, IL

Article Text

LOCAL NEWS The days are warm but the nights are cool. Quality Markers and Monuments. Geo. W. Ivey & Sons, Mt. Carroll, Ill. Wm. Liebergasells and Oscar Miches, south of town, visited the Century of Progress this week. Stockton Herald—Mrs. Ella Krell and son-in-law, I. G. Machamer of Freeport attended the World's Fair Sunday. Edw. Schuler, Carl Schuler and Mrs. Winnifred Shane and children took in the Worlds Fair at Chicago last Thursday. Charles Bender of Red Oak is critically ill. Mrs. Charles Bender is a sister of Charles and Will Liebenstein and Miss Mary Liebenstein. Miss Lucille Koertner accompanied Miss Eloise and Charles Buss to the Century of Progress Exposition in Chicago last Saturday and Sunday. The last of 5 trainload of tires at close-out prices. What's left of 200,000 Pharis Roadgrippers. 4.40-21, $3.98 4.50-21, 4.69. All sizes. Gamble Stores, Freeport. Gerald Edler son of Mr. and Mrs. Henry Edler and LaVerle Aurand son of Mr. and Mrs. Earl Aurand of Freeport recently hitch hiked to the Worlds Fair. The boys were lucky in getting rides both ways. The Lena band gave a street concert on the North Side last evening which was greatly enjoyed. Vocal and guitar solos were contributing factors to a well arranged program. The 4-H Club girls sold candy, popcorn and hot dogs during the evening. Bearing in their youthful active minds that vacation days are rapidly drawing to a close, Eugene and Junior, sons of Mr. and Mrs. Carl Block, spent last week with their uncles and aunts, Mr. and Mrs. Ed Block near Florence and Mr. and Mrs. Parker Taft near Winslow. Mrs. Ellen Finkenbinder has had the buildings on her farm repainted, also a new lawn fence and a new porch has been built on the north side of the house. Geo. Thomas did the work. It makes a fine improvement to the already attractive farm home. The Fred Lott family occupy the place. The depositors of the Freeport Union Bank and Trust Company of which F. H. Altmeier (Pearl City Bank receiver) was cashier, have entered formal protest against receivership. E. R. Shaw, newly elected Democratic Supreme Judge will plead in their behalf today at Springfield. Couldn't Pearl City follow this same course? Liquidation could be worked out in time. Whatever value belongs in the bank belongs to the depositors. A receivers service means added expense and less money every day to start a new bank which the town so badly needs. The continued cool evenings are causing some anxiety among vicinity farmers. There have been temperatures as low as 50 degrees in mid-August. Indications are for an early frost. Guests enroute to St. Louis stopped here Saturday and part of Sunday for a short stay with Mr. and Mrs. Ed Tollmeier. The auto party included Mrs. Nellie Kerch and Miss Jane Kerch of Dundee and Miss Agnes Cartier of Chicago. In company with Mr. and Mrs. Tollmeier all motored to Oregon, Illinois to have Sunday dinner with the DeLorbe family, Mrs. DeLorbe being a sister of Mrs. Tollmeier and Miss Jane Kerch.

3. November 22, 1933 Freeport Journal-Standard Freeport, IL

Article Text

COLLECT Jospeh Docer Named James Brings Action Against Chas. Bouray An action to recover filed circuit court Altemeier, receiver for Pearl City State bank, Joseph Doerr, The action was filed by the firm Green Wheat. Clarity Ellis have filed action trespass the promises title James Hyland land Charles involved in

4. February 3, 1934 Freeport Journal-Standard Freeport, IL

Article Text

PEARL CITY STATE BANK RECEIVER ANNOUNCES PLAN HASTEN Pearl City, Ill., Feb. under way hasten claims against the Pearl City State bank; according announcement made by William O'Connell, receiver. This plan provides for means whereby loan might be obtained the Reconstruction Finance corporation with notes security. All persons indebted to the bank requested at the bank fill out questionnaire which submitted to the RFC liquidation the loan to the bank, RFC will accept this plan Connell believes will be easier for the borrower. to liquidate note. the plan can be consummated will hasten the payment of. claims, was stated. The bank will be open between and each day the next ten days, except Sunday, at which time those indebted to the bank may fill out questionnaires.

5. October 11, 1934 The Pearl City News Pearl City, IL

Article Text

TO PAY BANK DIVIDEND A telephone message, this morning from J. G. Harrington, deputy receiver for the Pearl City State Bank, states that authorization for payment of a dividend has been received from Chicago. The dividend will be 30%, 27% from liquidated assets and 3% from stockholders liabilities, and will total $105,000. Claims under $2 will be paid in full. It is expected that the dividend will be paid within the next thirty days.