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GALESBURG, Ill. (AP)—The president of the Belleview, Mo., bank has said he will make good any bad loans made by the bank. The Missouri Division of Fin once took over the Belleview Valley Bank Monday. State officials said $317,000 in bad loans had been made. Bank president, Wayne K Woolsey, who also is Knox County, Ill., Supervisor of As sessments, said he was prepared to buy or pay any loans made by the bank since he became president in January. Woolsey and his attorney, Marvin Dinger of Ironton, Mo., said a suit would be filed today at Iron County Circuit Court. The suit would ask that the State Finance Division and the Federal Deposit Insurance Corp. relinquish control of the Belle view bank. The Knox County Board of Supervisors at Galesburg, NL, have cut Woolsey’s salary from $550 a month to $250. The su pervisors said they learned last month that Woolsey had not been spending his full time as supervisor of assessments. Woolsey lives at a farm near Maquon, Iii,
Newspaper Details
Freeport Journal Standard
Freeport, Illinois, US
Fri, Jul 24, 1964
Page 3
Full Page
Clipped by
John C.
USA 20 Aug 2026
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