Article reports stockholders resolved to resume after covering a deficiency caused by the cashier.
Events (4)
1.September 9, 1870Chartered
Source
historical_nic
+14 years
2.April 14, 1884Suspension
Cause
Bank Specific Adverse Info
Cause Details
Deficiency/shortfall caused by the cashier (implying embezzlement or defalcation)
Newspaper Excerpt
The stockholders of the suspended National Bank met to-day and resolved to resume, making good the deficiency caused by Cashier
Source
newspapers
same day
3.April 14, 1884Reopening
Newspaper Excerpt
resolved to resume, making good the deficiency caused by Cashier
Source
newspapers
+6.3 years
4.August 18, 1890Voluntary Liquidation
Source
historical_nic
Newspaper Articles (1)
1.April 15, 1884New-York TribuneNew York, NY
Click image to open full size in new tab
Article Text
THE BROKEN MONMOUTH BANK. CHICAGO, April 14.-A dispatch to The Daily News from Monmouth, Ill., sayai "The stockholders of the suspended National Bank met to-day and resolved to resume, making good the deficiency 'caused by Cashier
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.