Bank of Forreston (Forreston, IL)

Episode Information

Episode UID
1282359091029
Episode Type
Suspension โ†’ Closure
Bank Type
private
Bank ID
128235909 hash
Start Date
September 1, 1885*
Location
Forreston, Illinois (42.126, -89.579)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5e930d599f68b7a6

Response Measures

None

Description

Assignment to Matthew Blair indicates failure following suspension.

Events (2)

1. September 1, 1885* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bad management and losses in other ventures; assets reported equal liabilities including $65,000 on deposit.
Newspaper Excerpt
The bank of Forreston, Ill., has supended. Assets are said to equal liabilities.
Source
newspapers
2. September 14, 1885 Receivership
Newspaper Excerpt
Reuben Wagner, proprietor of the failed bank of Forreston, Ill., made an assignment Monday to Matthew Blair, one of the depositors.
Source
newspapers

Newspaper Articles (2)

Article from The Rock Island Argus, September 16, 1885

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Article Text

THE NEWS IN BRIEF. The Chicagos defeated the St. Louis club Monday 10 to 2. Savannah, Ga. has put up $2,000,000 worth of buildings thus far this season. "A spotted adder" is a name grimly given by The Boston Record to defaulting cashers, Five daily papers in New York have suspended publication since the 1st of last Jannary. In a special pacing race at St. Paul Mon 'ay Mike Wilkes easily defeated Westmont, taking two heats in 2:16ยฝ. Prince, the champion bicyclist, was derentel Monday at Blossburg, Pa., by John Brooks, in a twenty-mile race. Tue O-hko-h Packing and Preserving company's works were destroyed by fire Monday causing a loss of $12.000. J hn L. Sullivan, the pugilist, pleaded guilty at Clevelan Monday to the charge of Sunday ball-piaving, and was fined $1 and costs-a total of $16. The comptroller of the currency has dedared a fifth divident in favor of the credtors of the First National bank of Monmonth, Ills, making in all 90 per cent. Mary L Shepherd, 14 years old, was arrested at Dodgaville, Wis., Monday, while trying to dispose of a team of horses she had stolen. Her home is in Webster City, Iowa. W Iliam M. Du sker, of Brooklyn. N. Y., has be n given a prize of $1,000 and the Order of the Red Cross offered by the empress of Germany for the best portable field hosp M mday afternoon, while Mr. and Mrs. A. B. Harris, of Chicago, with a grandchild 4 years old, were driving, their carriage took tire from a spark from Mr. Harris' cigar, and Mrs. Harris was badly burned before the flames could be extinguisbed. The concluding serios of yacht races for the Triplett medal were sailed Monday at Oconom woe, Wis., the Arline securing the prize, beating the Undine by 52 seconds, the latter being 7ยฝ seconds ahead of the Tempest. The Julie won the prize for secondclass boats. Reuben Wagner, proprietor of the failed bank of Forreston, III., made an assignment Monday to Matthew Blair, one of the depositors. The bank's assets amount to $117,000 with liabilities of $90,000, including $65,000 on deposit. Bad management and losses in other ventures are alleged to have caused the disaster. It is stated that an arrangement has been perfected by which Peoria distillers will send daily to Cincinnati seven cars of whi-ky, which will be marketed. if necessary, at 95 cents per gallon, the object being to compel the anti-pool men to come to terms and aid in the formation of another organization for the protection of values. The Protestant and Roman Catholic women of Boston have entered politics as rivals and propose to exercise the right of school suffrage in a manner which shall test their relative strength. Up to 1 o'clock, Monday afternoon, over 900 females had been enrolled for assessment at the city hall, and of this number it is thought 90 per cent. are Catholics. The fight is for the control of the public schools. L. Clayton, senior partner of the shipbrokerage firm, Alfred Brotherton, and George W. Brown were arrested at Baltimore Monday, for defrauding insurance companies, it having been discovered that & brig owned by Clayton, and in charge of Brotherton and Brown, had been abandoned at sea, having previously been scuttled. The insurance on the vessel, $20,000, had been paid. Clayton was released in $10,000 bail, but the other two are in prison, the crime, if found guilty, being punishable with death.


Article from The Clarion, September 23, 1885

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Article Text

Business Troubles. The bank of Forreston, III., has supended. Assets are said to equal liabilities. James Elder, farmer and miller, of Greensburg, Ind., has made an assignment. Henry Arthur & Co., pioneer leather house of New York, have assigned. Liabilities are supposed to be heavy. C. E. Cook, proprietor of the Jennings County bank, at North Vernon, Ind., has assigned. The bank has been dealing heavily in township warrants. The Bank of Harrison, 0., has made an assignment. Liabilities, about $24,000, and assets the same. Among the latter are about $5,500 of the noted Indiana township warrants.