Show I IK THREE ILLINOIS BANKS S 60 GO UNDER C V Chandler of f Macomb Mac mb at Head of All the Institutions Institutions Hans Affected READY EADY CASH ASH WAS LACKING USUAL NOTICE POSTED POST ON N THE DOORS Peoria Ill III Nov Noi No 00 Throe banking In county con eon conducted conducted ducted by C V Y Chandler or ot closed their doors today t Notices s tO I the effect that the banks were We e short of ready r ad cash c ih Were Vero posted poste on the doors doos of all alt the banks hanks This decision n was reached yesterday rda on ah alt examination n of the t looks books boo by b Mr ih Chandler himself The banks are arr e the th Bank of f Macomb cot con by h C V Y Chandler Co C le 1 posits of r H and capitalized C at v 5 rt the llie th for batik bank b at Col Colchester Colchester chester r capitalized ca at S and de IC deposits 1 posits of and hn the Chandler Chan ler Smith bank Lank of Bardolph c l at I Kith deposits de M n Loaned L hed Out The money of the depositors d I In ITt all alt three banks has 11 bOon been 1 n invested through Mr Ir Chandler the senior member of the private banking firms in county count real reat estate and mid the Immediate late j cause of the suspension of the three th in institutions institutions is given as a lack of r ready a y cash 1 Th Macomb batik bank gu ranted the th payment mt of tile the th bonds of the th Ma Macomb Macomb Ia comb Western Illinois Electric rail mil milWay wa Way and nd when the bondholders made m u a demand denland for fol their money they the absorbed all aU the ready r a y cash of vr f the three institutions The following notice appeared ard or ir r tiP the doors of all nU three banks signed by C Cv i iV i V Chandler and an the other th r members of the firm in the respective r towns i r This bank is closed pending pen in r P notia subject to the jf tie the property into nto ready read cash The hark hanI is solvent and nl all aU depositors wll be he paid 1 in full There is ample property to t tall all U 1 and all ull that i is is a reasonable amount Of cit time to con convert convert Ol vert the holdings into money mone State Sta e Is Protected C V Chandler has been in lit the th ba bEth batik nit I ing business in Macomb for Cor a quarter of a century and ip hl addition to his private vate holdings is treasurer tre of the Weal em ern Illinois State s schiol liol ol of if f Ma lla Macomb comb and treasurer tre of or the it of ef Ma Macomb Ia Iao comb o mb It is h not l thought either the Iho state school or the city elt will wll lose lost by Iy the fI fIure ft it itUre ure of the banks hanks The state stitt Is o l by a trust company om an bond and ani the cUr city cit deposits in the bank are arc at this time th e of the year rear Mr lr Chandler Ch made madl a statement Coday setting rettin 1 fort forth In effect what hat was stated plated In the Um notices posted post d on oil the doors of or o the banks The liabilities s are aie nui more Inon v than with revl real estate worth over oyer The mortgages are 3 re I mostly on central Illinois farms and fire re reconsidered reconsidered I considered good There was little show how of over uyer the closing dosing of the banks In COIL C l Chester the major part of th tho the depositors depositor are miners |