Keokuk National Bank (Keokuk, IA)

Episode Information

Episode UID
199200885
Episode Type
Run Only
Bank Type
national
Bank ID
19920 national
Charter Number
1992
Start Date
September 27, 1873
Location
Keokuk, Iowa (40.397, -91.385)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
143b7bae049291cf

Response Measures

Accommodated withdrawals

Events (3)

1. June 1, 1872 Chartered
Source
historical_nic
2. September 27, 1873 Run
Cause
Local Banks
Cause Details
Run triggered by suspension of the Commercial Bank in Keokuk, causing depositors to withdraw from other local banks.
Measures
Other banks honored checks, adhered to notice requirements for time deposits, and remained open extra hours to meet demands.
Newspaper Excerpt
The Commercial Bank suspended yesterday. In consequence thereof there was a run to-day on all the other banks of the city.
Source
newspapers
3. January 8, 1935 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (3)

Article from Chicago Daily Tribune, September 28, 1873

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Article Text

WESTERN COUNTRY BANKS. KEOKUK. Special Dispatch to The Chicago Tribune. KEOKUK, In.. Sopt. 27.-The Commercial Bank suspended yesterday. In consequence thereof there was a run to-day on all the other banks of the city. The excitement was greatest at the savings bank, where a largo crowd of anxious depositors assembled. The rule requiring notice of the withdrawal of time doposite was adhered to, but all other demande were promptly responded to. Frequent deposits were niado by those who had confidence in the ability of the bank to meet all its obligations, Before noon the excitement began to subside, and by 3 o'clock was entirely over. At the close of business the bank had more money in the vaults than when it commenced tho day's business, the deposite having exceeded the amount drawn out. The other banks honored all checks drawn upon them, and in addition mado some advaucce for business purposes. They remained opeu for an hour after the usual time Monday to satisfy the public of their readiness to meet all demands. DAVENPORT, IOWA. Special Lismatch toThe Chicago Tribune. DAVENPORT, Iowa, Sopt. 27.-There is but little new to report in monoy matters here today. The banks opened as usual this morning and had little to do. There has been no discounting, and the number of certified checks issued has been small. Corporations and other* employers discharged their pay-rolls as usual this afternoon, and the monthly wages of the teachers in the city were paid to-day. Novertheless, trade is very dull. Markets of all kinds are very much depressed, and the scarcity of money is a aubject of general talk. There was a disposition of depositors in the city savings banks to run heavily on tho banks to-day, but they were in a great measure restrained by the good counsols of the bank men, and of the Rev. Father Congros, Catholic priest here. There has been little excitement to-day, and everybody BOOMS to be doing all that is possible to get back to where we were before the panic. The banke will adhere to the plan, paying no more than $100 checks on Monday. EAST BAGINAW. Special Dispatch to The Chicago Tribune. EAST YAGINAW, Mich., Sept. 27.-The banks of the Saginaw Valloy, at a meeting held here yeHterday, at which fourteen banks were reprosented, having resolved to pay out no more currency than the necessity of trade demanded, a meeting of citizens representing a largo portion of the business mon of this city and millions of dollars was hold this ovening to indorse the action of the banks. The meeting was unanimous, and resolutions expressing confidence in the banks, and a pledge to stand by them, was adopted without a diesenting voice. At B meeting of the lumbermen and salt manufacturers, held at Bay City. to-day, it was resolved to reduce tho price of labor 12) por cent for mon employed in the woods this winter. Unless other action is taken, the same will apply to mill-hands and salt-boilera next season. The Directors of the Tittabawasoo Boom Company, who operate the most extensive booms in the country, took the same action ut a meeting In regard to the prico of labor. GRAND RAPIDS. Special Dispatch to The Chicago Tribune. GRAND RAPIDS, Mich., Sept. 27.-Five banks in this city, namely : the First National, City National, Dutch Bank, Fuller's Bank, and Graud Rapide Savings, all joined in a published notice this morning that until furthor notico they would not pay chocks or certificates for large amounts, but at 2 o'clock the City National published a notico rescinding its pait in that arrangement, announcing its readineas to pay in full all checks drawn aga instdoposite horeafter. There has been no indication of a run at any time. The several large manufactories and other business establishments which pay oniployos on Saturday all drow the full amount of their pay-rolls from their respective bauka, and paid off as usual. There were no fears to the contrary. No apprehension is expressed of any disturbance to the morcautile or manufacturing interests here. SPRINGFIELD, ILL. Special Disputch to The Chacago Tribune. SPRINGFIELD, III., Sept. 7.-Our banks passed through this day triumphantly, paying out more money, it is true, than ordinary days; but at no time WAS there any rush or excitement, and at no one time was there to exceed B dozon perBODB in any one of the banks. The feeling horo is quieter than sinco the crash began, and unloss Home unlooked-for event should ariso, the worst may be considered over horo. The bankare are confident that they will be ablo to meet all the demanda that will be made. OBHKOBH. Suecial Dispatch to The Chicago Tribune. , Sept. 27.-The financial crash causes


Article from Chicago Daily Tribune, September 29, 1873

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Article Text

Special Dispatch to The Cincago Thound. KEOKUK, In.. Sept. 27.-The Commercial Bank suspended yesterday. In consequence thereof there was a. run to-day on all the other banks of the city. EAST SAGINAW. Special Dispatch to The Chicago Tribune. EAST SAGINAW, Mich., Sept. 27.-The banks of the Saginaw Valley, at a meeting hold hero yesterday, at which fourteen banks were represonted, having resolved to pay out no more curroncy than the necessity of trade demanded, a meeting of citizens representing a largo portion of the business mon of this city and millions of dollars was held this ovening to indorse the action of the banks. The meeting was unanimous, and resolutions expressing confidence in the banks, and a pledge to stand by them, was adopted without a diesenting voice. At a meeting of the lumbermon and BATT manufacturers, held at Bay City. to-day, it was resolved to reduce the price of labor 121/2 por cent for mon employed in the woods this winter. Unless other action is taken, the same will apply to mill-hands and salt-boilera next season. The Directors of the Tittabattageo Boom Company, who operato the most exto nsivo booms in the country, took the same action at a meeting in regard to the price of labor. GRAND RAPIDS. Special Dispatch to The Chicago Tribune. GRAND RAPIDS, Mich., Sept. 27.-Five banks in this city, namely: the First National, City National, Dutch Bank, Fuller's Bank, and Grand Rapide Savings, all joined in a published notice this morning that until further notice they would not pay checks or certificates for large amounts, but at 2 o'clock the City National published a notice rescinding its part in that arrangement, announcing its roadlness to pay in full all checks drawn against doposits horeafter. OBIHOSIT. Special Dispatch to The Chicago Tribune. ORHKOSI, Sept. 27.-The financial crash causes great apprehension among mill mon. Thus far our banks have honored all domands, and hope to weather the storm. Many of the milla were unable to pay more than half their liabilities, and if the present stringency continues many of thom will shut down. This will throw out of employment 600 or 800 men, and great sufforing must ensue. CARLINVILLE, ILL. Special Dispatch to The Chicago Tribune. CARLINVILLE, III., Sept. 27.-At a meeting of 8 the officers of the three banks of this city, yese terday, they agreed to adopt the following plan r for the bonefit of themsolves and their depositn ors, viz.: That they pay out no currency on 1 checks or drafts of over $100. This agreement was signed by the Presidents or Cashiers of all the banks. Our banks are sound. DELOIT, WIB. Special Dispatch to The Chicago Tribune. BELOIT, Wis., Sept. 29.-Owing to the impossibility of obtaining currency the Boloit National o Bank decided to suepend business to-day. Its 0 securities are ample. Susponsion only tomporary. is CANTON, ILL. of CANTON, Ill., Sept. 27.-The First National y Bank. l'eople's Bank, and Home Bank, of this city, have temporarily suspended until the fiuaucial crisis is over. 3.


Article from Chicago Daily Tribune, September 29, 1873

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Article Text

WESTERN COUNTRY BANKS. HEOKUK. Special Dfspatch to The Chicago Tribune. KEOKUK, In.. Sept. 27.-The Commercial Bank suspended yesterday. In consequence thereof there was a run to-day on all the other banks of the city.