Commercial Bank (Champaign, IL)

Episode Information

Episode UID
9767593391585
Episode Type
Suspension → Reopening
Bank Type
private
Bank ID
976759339 hash
Start Date
January 18, 1932
Location
Champaign, Illinois (40.116, -88.243)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f56da5247b3c6a5b

Response Measures

None

Description

Articles report active reorganization and a drive to reopen, but no definitive reopening date is given.

Events (1)
1. January 18, 1932 Suspension
Cause
Local Banks
Cause Details
Suspended because the First National Bank of Champaign closed; Commercial was a depository of First National and closed after that bank's failure.
Newspaper Excerpt
This bank suspended by reason of the closing of the First National Bank of Champaign, one of its depositories.
Source
newspapers

Newspaper Articles (12)
1. January 18, 1932 Belvidere Daily Republican Belvidere, IL

Article Text

Champaign, III., Jan. First National bank of Champaign, with deposits of failed to open its doors today. sign on the door read: "Suspended by order of directors. National bank examinhave taken The bank was depositary for the University of Illinois. The Commercial bank, depositary for the city Champaign, also failed to open. Deposits were sign the door read: bank suspended by reason of the of the First National Bank Champaign, one of its taries.' Such funds the university the covered

2. January 18, 1932 The Hastings Daily Tribune Hastings, NE

Article Text

STUDENT FUNDS TIED UP The First National Bank, with de posits $6,000,000 closed today. of Illinois students had their money in the bank. short time later the Commercial Bank Champaign, also pository for University of Illinois funds which many students had was closed by the accounts, rectors. The Commercial had approximately $500,000 sign on the door read: "This bank suspended by reason closing the First National the Bank of Champaign, one of its depositories."

3. January 19, 1932 Hartford Courant Hartford, CT

Article Text

Champaign, III., Bank Closed by Directors Champaign, Ill., Jan. The First National Bank of Champaign which listed deposits in the recent bank call at $5,116,951 was voluntarily closed today by its directors. smaller state bank, the Commercial, took similar action Officers of the First National Bank said they hoped to affect reorganization soon.

4. January 19, 1932 Belvidere Daily Republican Belvidere, IL

Article Text

Champaign, Jan. First National bank of Champaign, with deposits of more than failed to open its doors today. sign on the door read: "Suspended by order of directors. National bank examinhave taken charge." The bank was depositary for the University of Illinois. The Commercial bank, depositary for the city of Champaign, also failed to open. Deposits were approximately $500,000. the door read: bank suspended by reason of the closof the First National Bank Champaign, of its deposiSuch funds the university had the bank were covered insurance.

5. January 19, 1932 Nevada State Journal Reno, NV

Article Text

Runs Close 2 Banks In Illinois Towns CHAMPAIGN, Ill Jan -Two large banks closed their doors today and tied up the accounts upon which hundred of students depended to carry on their studies at the University of Illinois. The First National Bank, with $5,116,951 in deposits, closed first It was unable to withstand a weeklong run A short time later the doors of the Commercial Bank of Champaign clanged shut and a sign was posted explaining that this bank is suspended by reason of the closing of the First National Bank of Champaign, one of its depos-

6. January 19, 1932 The Buffalo News Buffalo, NY

Article Text

TWO CHAMPAIGN. ILL., BANKS CLOSE SAME DAY CHAMPAIGN III., Jan 19 (U.N.) Two large banks closed their Monday tied up the accounts which to their studies at the UniThe First National bank with $5.116,951 in deposits. was unable to withstand long run A short later the doors of the Commercial of Champaign and sign was posted that bank by the closing the First bank of Champaign its depositors The Commercial bank had deposits of $388,000.

7. January 19, 1932 The Buffalo News Buffalo, NY

Article Text

TWO CHAMPAIGN. ILL., BANKS CLOSE SAME DAY CHAMPAIGN III. Jan 19 Two large banks closed their Monday and tied up the accounts upon which students depended to carry on studies at the Uni The First bank. with $5.116,951 in deposits. was unable withstand run short later the doors of the Commercial Bank of Champaign closed and sign was posted that 'this bank is by the closing of the First bank of Champaign its depositors The Commercial bank had deposits of

8. January 19, 1932 The Daily Sentinel-Tribune Bowling Green, OH

Article Text

Illinois Banks Closed III., Jan. 19. (INS)The First National Bank of Champaign, with deposits of more than $60,000,000. failed to open its doors yesterday. It was depository for the University of Illinois. The Commercial bank. depository for the city of Champaign, failed to open yesterday. Deposits were approximately $500,000. sign on the door read: "This bank suspended by reason of the closing of the First National Bank of Champaign, one of its depositories.'

9. January 19, 1932 Herald and Review Decatur, IL

Article Text

DIRECTORS CLOSE CHAMPAIGN BANK Champaign AP The First National Bank of Champaign, which listed deposits in the recent bank call at $5,116,951. was voluntarily closed today by its directors. A smaller state bank. the Commercial, took similar action. Officers the First National said they hope to effect reorganization soon. N. M. Harris is president and H. S. treasurer of the University of Illinois, a vice president. Chicago-AP The Depositors' State Bank was closed today. It had $2,500,000 on deposit and capital and surplus of $400,000 and $250,000.

10. January 20, 1932 The Buffalo News Buffalo, NY

Article Text

TWO CHAMPAIGN, ILL., BANKS CLOSE SAME DAY CHAMPAIGN III. Jan 19 (U.N.) Two large banks closed their Monday and tied up the accounts upon which of students depended to carry their studies at the UniThe First National bank with $5.116,951 in was short later the doors of the Commercial Bank of Champaign closed and sign was posted explaining that this bank is suspended by reason of the closing of the First bank Champaign its The Commercial bank had deposits of $388

11. January 24, 1932 The Daily Illini Urbana, IL

Article Text

CITIZENS (Continued from Page One) Willis, Dan Swannell, and W. Clifford. Commercial stockholders: Thomas Hagan, and Paul Somers, Chamber commerce re-organization committee: Walter Savage, Petry George Lan Morrisey, and John Armstrong. Nothing to Chance the drive to re-open the two Champaign banks, little will left was evident at yesterday's meeting. Representatives of present of mind: that there was task to be done, and that was to be done quickly, and thoroughly. Acting in this spirit, steering committee, composed of person from each of the five representative groups, was selected serve with the chairman, Mr. Huff, in the formation of definite plans for the campaign. This committee, whose membership includes Mr. Mattis from the chamber of commerce, Mr. Swannell for the First National stockholders, Mr. Busey for the Commercial stockholders, for the First National and Koehnemann for the Commercial stockholders, will meet at o'clock tomorrow morning draft organization plans and suggest ways and means to the second general of the five groups, scheduled for o'clock tomorrow night in the Elks' club. Expresses Sentiment Committees from large depositors' groups are responsible to the committee of the whole, was pointed out, and will report back them the decisions which the central committee has made. The sole purpose of smaller groups speed the re-organization process. Ray Sparks expressed the sentiment the entire groups yesterday afternoon when he said: tongues stopped!" Tomorrow night's meeting will hear the report of "steering" committee after which expected the several on plans, education, publicity, campaign, and like matters will be named and set to work. Unite for Action Members yesterday united for concerted and speedy action, but stuck to their policy to "make haste slowly.' The complete calendar of committees, including those of the deposiand stockholders both banks and from the chamber of commerce, follows: Chamber of Commerce: Walter Savage, Prof E. Bogart. Bauer, R. M. Campbell, Ray Sparks, Parkhill, James White, Petry, George McComb. George Mattis, W. Wright, John W. Armstrong, Fred Russell, and Dan Morrissey. First National stockholders: Willis, Dan Swannell, and W. E. Clifford. Commercial stockholders: Somers, Thomas, Hagan, and Paul Busey. First National depositors George Huff. chairman: E. Cole, secretary: Kiler, Busch, Prof. Sveinbjorn legal counsel of the University, Millard, Frank Barrett, Van Wegent, James W. Dr. Bucher, Albert Jr., Stiritz, John Prof. Frederic of the department of economics, Dr. Cleaves Bennett, Dean Thompson of the College of Commerce, Carman, professor emeritus of the department of physics, George Garst, Fluck, and Pearson. Commercial depositors: Finder, Harry Casper, Anthony Koehnemann, Sackett, Hustable, Holmes, Lee Greenman, W. E. Quinand Ernest Moon.

12. February 26, 1932 Ford County Press Melvin, IL

Article Text

INTERESING FROM OUR EXCHANGES second annual Sibley Estate The for the Sibley Estate Corn Show, tenants was held in the Sibley only, hall Saturday, Feb. sum town of in prize money was given of ear corn and away for samples shelled Mr. and Mrs. James Bunney of Belleflower celebrated Tuesday, Feb. wedding anniversary 16th, with dinner at with immediate relatives hour only Mr. Bunney present. united in marriage Feb. Knox were Heyworth. They 16th, 1882, at lived and around Bellflower have in since that time. Noah Franklia, whose century of county's oldest life made him McLean died at his home in Lexingresident, Feb. 11, ton at 2:30 which was first after short illness suffered. He of which be ever old had would have been 101 years June 29. The he lived until next held the following funeral was afternoon at the residence made in the Lexington and cemetery. of the Ulmer, veteran George Civil War, passed away at his home 14. Mr. Sunday, Feb. in Anchor, and born in Germany Ulmer was came to America as young man. 1, 94th enlisted in Company He which he served in married the throughout of Bloomington Mueller, to him in his wife preceded in 1878 and 1931. Nine Jan. 27, death on children survive. colored, whose Whittaker, Henry found lying is unknown, was address R. tracks of the the along at Gilman, coal chutes the near Feb. 13th, Saturday, around noon skull fracture. of severe suffering doctor taken to the The man was first aid Gilman for in to Iroquois later taken and was It hospital at county the injured whether not known struck train or was fell man basketball The district March will be held in of this eleven teams 12 with 11 and winner of The competing locality in the will play this tournament Danville the at tional tournament and the district week following held in the will be finals state week followthe at Champaign The teams sectional meet. the ing tourney are: the Paxton entered in Gibson City: Saybrook, Rantoul, Loda, Roberts, Arrowsmith, and Buckley Belleflower, Cropsey, Melvin. farm aged 18 Laberre, Verne arrested Loda, was hand, of near the deputy Feb. 14, by Sunday, sheriff of Iroquois county and placed with charged jail the county in It is and burglarly door the rear unlocked that Laberre in Loda pool room the Schartieger of closed, been had previously which and that time closing before just He the night. during tobacco, stealing candy. with charged in the them concealing and etc., which was farm on of the granary employed. Paso former Hunt, George still a patient is student, school the During at Peoria. hospital in football game Hunt, who 18, 1929, Oct. Pontiac on Paso team, the El of member was which to his spine an injury suffered paralyzed. him practically rendered been perhave Several operations that is reported and it formed to get is able He is improved. using corridors the hospital about with recently and just wheel chair hand and in one of cane the in doctor of the arm hold walk to he hand, the other himself The boy short distance. able to be some expects unassisted. about of any several plans, of Approval re-organize used to be which may Bank National the First and re-open the by was given of Champaign, Washingat of Currency Comptroller the of chairman Huff, George ton, Committee, Re-Organization Banks The representMonday. announced who Office, Comptroller's of the ative Champaign at the bank been in has returned Jan. 18, it closed, since the with Monday Washington from had Comptroller the members The the plans. approved the of Committee Executive of the and outafternoon Monday bank met of Representatives lined the plans. of Champaign Bank Commercial the 18, are Jan. also closed which to re-open of plan details pleting bank also. that