Rock Island National Bank (Rock Island, IL)

Episode Information

Episode UID
188900940
Episode Type
Suspension โ†’ Reopening
Bank Type
national
Bank ID
18890 national
Charter Number
1889
Start Date
April 27, 1878
Location
Rock Island, Illinois (41.509, -90.579)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1a0d90bf103ce49c

Response Measures

None

Description

1878 item discusses delaying payment in gold (policy choice), not a run or failure.

Events (6)

1. October 7, 1871 Chartered
Source
historical_nic
2. April 27, 1878 Other
Newspaper Excerpt
The cashier of the Rock Island National said this morning when interviewed, We don't pretend to pay out gold until we are obliged to.
Source
newspapers
3. February 12, 1898 Suspension
Cause
Government Action
Cause Details
State legal holiday (Lincoln's birthday) caused banks to close for the day.
Newspaper Excerpt
Lincoln's birthday anniversary is being observed as a national holiday by the Rock Island banks, which have suspended for the day.
Source
newspapers
4. February 11, 1905 Suspension
Cause
Government Action
Cause Details
State law provides Monday as a holiday so banks suspended operations for the day.
Newspaper Excerpt
Banks Close Monday. Next Monday all of the banks in Rock Island and Moline will be closed because of our martyred president, Lincoln's birthday.
Source
newspapers
5. October 29, 1907 Suspension
Cause Details
Banks voluntarily enforced a 60-day notice rule (precautionary measure following regional banking actions).
Newspaper Excerpt
It was decided to put into effect the law requiring that all depositors give 60 days' notice before drawing on deposits in the bank.
Source
newspapers
6. March 3, 1915 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (4)

Article from The New York Herald, April 28, 1878

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Article Text

GOLD RESUMPTION. BANKS IN ROCK ISLAND, ILL, NOT IN A HURRY TO PAY OUT GOLD. [BY TELEGRAPH TO THE HERALD.] Rock ISLAND, III, April 27, 1878. While in Davenport and Moline, cities adjoining this, the banks-as the HERALD has already been advisedhave practically resumed gold payments, the Rock Island National, the First National and the Citizens' National of this city are dilatory in doing so. The cashier of the Rock Island National said this morning when interviewed, "We don't pretend to pay out gold until we are obliged to." The First National says it will pay gold for its bills, but does not want much said about it, as gold may advance and compel them to suspend such a course.


Article from Rock Island Argus, February 12, 1898

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Article Text

# TOWN TOPICS. The Kinship cigar. Hard wood at McKown's. Johnson and Lundin at Harper's theatre tonight. Your brother smokes the Kinship cigar. Do you? "Forget Me Not" by the Paiges at the theatre tonight. Mrs. Harry Horne, of Washington, Iowa, is visiting her sister, Mes. J. F. Horne. Lot $1 and $1.50 shirts, your choice 75 cents, slightly soiled. Stewart, the hatter. Closing out new furniture at cost and less. C. F. Spicer, 410 West Second street, Davenport. See Johnson and Lundin. the famous strong men, with the Paiges at Harper's theatre tonight. Clint L. Cash leaves shortly for Nebraska to work in the interest of the Fraternal Tribunes as deputy state organizer. See the great $50 contest at Harper's theatre tonight between Johnson and Lundin and Bob Fulsom-10, 20 and 30 cents. Lincoln's birthday anniversary is being observed as a national holiday by the Rock Island banks, which have suspended for the day. Go to Harper's theatre tonight, see the Paiges in the beautiful play, "Forget Me Not;" the great contest of strength, the new specialties and get a rocking chair. All for 10, 20 and 30 cents. G. W. McCaskrin, F H Caldwell, Thomas Campbell, S. W. Heath and Eli Corbin atteaded the Tenth Congressional District Farmers' institute at Morrison as delegates from Rock Island county. Rev. C. E. Taylor, J. J. Rosch, C. G Taylor and Miss Maud Mabie attended the semi-annual meeting of the Young People's Usion of the Rock Island Baptist association at Orion, yesterday. The will of the late Ludwig Geisenhagen, of this city, has been probated in the county court. The testator leaves all his property to his wife, Sophia Geisenhagen, who is appointed executrix without bond. John Workman and Miss Marths Reynolds, two well known young people of the lower end of Rock Island county, were married Feb. 8 in Muscative by Rev. S. H. Parvis, of the Presbyterian church. They will reside near Foster. Bob Fulsom, an iron worker of Moline, well known as a local strong man, will endeavor to win the $50 offered by Johnson and Lundin. The contest will take place tonight at Harper's theatre between the acts of the play, "Forget Me Not." The Keokuk Constitution-Democrat, in the interest of a movement on foot in that city to erect a Y. M. C. A. building, is publishing a series of cuts of representative structures in other cities. That of the Rock Island association building appeared in the issue of yesterday. W. R Stirling, of Chicago, will deliver an address at Trinity church Sunday morning, Feb. 20, on "Wanted, Men." Mr. Stirling is a member of the Brotherhood of St. Andrew, whose object is the "spread of Christ's kingdom among young men." All who have been baptized in the Protestant Episcopal church are eligible to membership in the brotherhood. Rev. R. G. Hobbs, of Jacksonville, who went to India with the ship load of corn for the famine sufferers, has returned home, and has been secured for a lecture Feb. 24 by the Epworth League of the First M. E. church. The lecture will be richly illustrated with stereopticon views covering the entire journey and showing the actual condition of the people of India. Hon. Henry Sabin, state superintendent of public instruction of Iowa, lectured on "Horace Mann" at the High school last evening. He was greeted by a large audience of teachers and their friends, who found the lecture a highly instructive one. Prof. John M. Finley, president of Knox college will give the last lecture in the teachers' lecture course. He will speak on "Domsei" of Ian McLaren's "Bonnie Briar Bush," to which will be given next month.


Article from Rock Island Argus, February 11, 1905

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Article Text

Banks Close Monday. Next Monday all of the banks in Rock Island and Moline will be closed because of our martyred president, Lincoln's birthday. His birthday is on Sunday, but the state law provides that Monday is a holiday, consequently the suspension.


Article from Rock Island Argus, October 29, 1907

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Article Text

chosen president and H. L. Chapman of the First National bank of Moline secretary. The move is similar to the action of Chicago bankers and those of other cities, the purpose being to protect both the banks and the depositors. It was decided to put into effect the law requiring that all depositors give 60 days' notice before drawing on deposits in the bank. This notice will be required to withdraw amounts of any size, either large or small. ### Merely as Protection. The action of the bankers was not caused by any feeling of alarm on their part regarding the local financial situation, but was taken simply as a precautionary measure to make further remote the liability of any disturbance in the two cities. No stringency is expected in any form by local bankers. ### To Protect Moline. The measure, it is said, is largely for the purpose of protecting the banks in Moline. The initiative in the action was taken in Moline, and it is understood that the Moline banks are the ones most urgently in need of the measure of the 60 day notice. The Moline institutions are called on to meet a weekly pay roll withdrawal of $125,000 a week, and the action of the Chicago banks has placed the Moline institutions in a position where it is absolutely necessary to demand the 60 days' notice. The enforcement of the 60 day notice rule is expected by the local bankers to be only temporary, and there is nothing in the local situation to occasion any alarm. The measure is taken merely for the protection of deposits.