2730. Union Savings Bank (Cedar Rapids, IA)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
savings bank
Start Date
March 15, 1876
Location
Cedar Rapids, Iowa (42.008, -91.644)

Metadata

Model
gpt-5-mini
Short Digest
6e557e187cdca24d

Response Measures

None

Description

The articles (1876 and 1878) report the Union Savings Bank / Union Bank of Cedar Rapids retiring from banking and going into liquidation/closing. No article describes a depositor run; the bank is described as failing/retiring or deciding to liquidate (voluntary). OCR variation in name appears (Union Bank vs Union Savings Bank); I assume these refer to the same Cedar Rapids institution. Dates are taken from article text/headers.

Events (2)

1. March 15, 1876 Suspension
Cause
Voluntary Liquidation
Cause Details
Article states the bank will simply retire from the banking business, indicating a voluntary winding up/retirement rather than a run or government closure.
Newspaper Excerpt
The failure is authoritatively announced here of the Union Savings Bank of Cedar Rapids, of this State. It is stated that there will be no material losses in that the bank will simply retire from the banking business.
Source
newspapers
2. August 1, 1878 Suspension
Cause
Voluntary Liquidation
Cause Details
Article explicitly reports the bank has decided to go into liquidation and close business August 1.
Newspaper Excerpt
The Union Bank, of Cedar Rapids, lowa, with a capital of $200,000, has decided to go into liquidation and close business August 1.
Source
newspapers

Newspaper Articles (6)

Article from The Wheeling Daily Intelligencer, March 16, 1876

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Article Text

Business Failures. NEW YORK, March 15.-The suspension of the United States Reflector Company (Conet, Jacobson & Co.), manufacturers and importers of reflecting chandeliers, was announced yesterday. Liabilities over $100,000. Their assets are considered good. The immediate cause of the suspension was difficulty in making collections. DAVENPORT, Is., March 15.-The failure is authoritatively announced here of the Union Savings Bank of Cedar Rapids, of this State. It is stated that there will be no material losses in that the bank will simply retire from the banking business.


Article from Los Angeles Daily Herald, March 16, 1876

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Article Text

NEWS OF THE MORNING. A rumor comes from Sloux City that a small party of whites have been mnrdered by the Indians in the Black Hills. The Union Savings Bank at Cedar Rapids, Iowa, has suspended. Ex-Police Superintendent Rhem of Chicago has testified before the Grand Jury thatexCongressman Ward was identified with the Chicago whisky ring, and Ward is explaining to the Grand Jury. It is reported that an alliance offensive and defensive has been formed by Greece, Servia and Romania against Turkey. A hurricane swept over London yesterday doing much damage. The failure of the Bank of New York was caused by the Vice President permitting overdraft. J. F. Eastman, has been appointed Postmaster at Marysville, vice Ellerman, a defaulter. The failure of A. P, Miner, operator in Ida. ho stocks, is announced with liabilities of $400 000. Near Ogdensburg, New York, stock and houses have been swept off by the flood. David A. Wells has been nominated for Congress in the third district of Connecticut. Ge orge W. Tisdale, Boston insurance agent, was arreste i for irregularities. Bailed in $15. 000, The Bank of the State of New York closed its doors yesterday.


Article from The Daily Dispatch, March 16, 1876

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Article Text

vote on the Constitutional Convention, but it is undoubtedly carried. [NOTE.-The reported Democratic gain of representatives in the above dispatch is doubtless an error, as it is highly improbsble that Where there have been such heavy Republican gains in the vote for Governor there should be a Democratic gain in the Legislature; besides, a comparison with the complexion of last year's Legislature does not warrant the above conclusion.-EDS.] NEW YORK, March 15.-George A. Merwin & Co., proprietors of the State Coffee. and Spice-Mills, have suspended. Liabilities, $60,000. The nominal assets will exceed this sum. The United States Reflector Company (Conet, Jacobsen & Co.) have also suspended, with liabilities exceeding $100,000. Their assets are considered good. DAVENPORT, IOWA, March 15.-The failure of the Union Savings Bank of Cedur Rapids is announced. MEMPHIS. March 15.-The residence of General Gideca Pillow was sold at a bankrupt sale yesterday. There was no competition, and the residence, which is probably worth $8,000, was bought by a gentleman for twenty-six dollars, and the valuable library was purchased by another person for eleven dollars, and both presented to Mrs. Pillow.


Article from Alexandria Gazette, July 31, 1878

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ed to point out where his money was placed, and it was secured by the meD. Mr. Beltz boover. who is 93 years old, was 80 badly in jured that his recovery is doubtful. The robbers are supposed to be members of a band who have lately committed similar deprodations in the neighborhood. Among the passengers by the steamship Utopia which arrived at New York this morn ing were the Shoewaccaemette crewoi Monroe, Mich., and G. W. Lee, of Nowark. Mr. Lee and the "Shoes" were met by a committee of the Triton and Eureka crews of Newark, N. J., and escorted to the Continental Hotel, at Newark, where the "Shoes" will be the guests of the Tritons and Eurekas. The "Shoes" have been invited to participate in the Passau regatta which takes place August 17 and 18. A steam canal boat, the invention of two NewJerseymen,is being experimented with on the canals of that State. Three trips have been made, 104 miles each one, at the maximum coat of about fitteen dollars each trip. The en gine with which the boat is furnished is of 1,500 pounds weight and is of three mule pow er. Only one and a half tons of coal are used on each trip. So far the experiments have been perfectly satisfactory. The quarantine established at Galveston against New Orleans in consequence of the yel low fever has interrupted the carrying of the mails between those points. The mails be tween New Orleans and Mobile will be carried through, though the passenger trains will not be run, in consequence of the stringent quaran tine regulations. The Ohio Republican State Central Commit tee met at Columbus yesterday to arrange for opening the fall campaign. There was an un usually large attendance of leaders of the party including Charles Foster, CX Gov. Dennisor and Judge West, candidate for Governor last year. It was decided to open the campaign August 24 A New York letter states that prominent members of the Chamber of Commerce of that city, as well as influential merchants who are not connected with that body, think it would be a becoming act on their part to tender some sort of reception to the Chinese Embassy or their arrival at New York en route to Wash ington. It is stated that (X Congressman Charles Hays. of Alabama, has challenged W. W Screws, editor of the Mostgomery Advertiser for articles denouncing Hayes for presiding over the Republican State Convention and calling him the "great American Annanias." It is not expected that there will be a duel, how ever. The Rev. Louis E. Hostelot, vice rector 0 the American College at Rome, was chosen it president. to succeed Bishop Chatard, at a re cent conference of Catholic prelates at New York. Bishop Keane will be consecrated Bishop of Richmond August 25. The paps bulls were mailed from Rome July 18. A bridge near Clarksville, Ark., on the Lit tle Rock and Fort Smith railway, having beer undermined by heavy rains, gave way yester day morning, and the rear passenger coach of : train goining west was ditched. Nobody was killed, but several persons were wounded. The California courts do not sustain the raid on the Chinese, and the Thirteenth Distric Court has declared illegal the Santa Clara ordi nance taxing laundrymen $20 a month for the purpose of driving the Chinese wash house from LOWD. The steamship Like Megantic, from Mon treal for Liverpool, was stranded on Monday off Anticosti. Her passengers were rescued and will be taken to Glasgow by the steamship Earl King. Of the cuttle on board 100 were saved. Nine hundred workmen employed in the Dexter and Eagle cotton mills at Manayunk Philadelphia, have struck in consequence 0 being notified of a reduction of twenty per ocu in their wages. The Orange prosecutions at Montreal have been postponed by an arrangement of the coun sel on both sides, for the purpose of presenting a test case for the decision of the British Privy Council. A convention of German teachers, in which all the States of the Union are represented, as sembled in New York on Monday, and will continue in session four days. Mayor My wel comed the delogates. The warehouse of L. Lottier, in Richmond, Va., used for the storage of leaf tobacco,caugh fire on Saturday night, and the stock was dam aged to the extent of $4,000. Lightning struck an outbuilding in the yard of A. H. Aisquith, in Rappahaonock county Va., last week, killing one colored child and seriously injuring another. Mrs. Virginia Terrill. wife of Geo. M. Ter rill, of Charlottesville, Va., was thrown from horse last Wednesday and received injuries from which she has since died. Twenty four cases of yellow fever and out death were reported at New Orleans yesterday. There was a sporadie 0693 at Cincionati yester day. A fire at Portland, Oregon, on the 29th, de stroyed an entire block, including the city build ings and most of the records. Loss about $15,000. John Lockitt, 3 well known member of the New York Produce Exchange, and senior member of the largest pork packing firm of that city, died Mondny. Capt. Berjamin W. Godfrey was run over by an engine at Wilmington, Del., yesterday morn ing and instantly killed. The Union Bank, of Cedar Rapids, lowa, with a capital of $200,000, has decided to go into liquidation and close business August 1. By the failure of the Union Iron Works Company at Cleveland, Ohio, 1,000 men are thrown out of employment. A family consisting of four persons were poiIsleans vesterday hv using (X


Article from The Portland Daily Press, August 2, 1878

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The Russians have occupied the chief positions around Shumla. The Russian authorities have categorically assured the Porte that the imperial guard will embark and the other Russian forces retire as soon as Varna has surrendered. BRIEF MENTION. The little craft Nautilus, from Boston, fortyfive days out, passed Scilly Islands Monday. All well--The Supreme Court of New York has affirmed the judgment in the matter of Robert L. Case and Dr. Lambert, the convicted insurance company president.General Crook, at Omaha Monday, said that not over 150 warriors of the Bannock and Shoshones joined the hostile Indians, and they took the war path rather than to starve to death. General Crook says the cause of the trouble is want of supplies, and that the practice of honesty, as well as professions of religion will have to enter into the dealings with the Indians.-A severe hail storm in Minnesota Tuesday did much damage to the crops.โ€” The Chinese Embassy will leave San Francisco shortly for the East.-Although tramps are flooding the state of Iowa, men cannot be got to harvest for wages varying from $1.50 to $3.50 per day and board.-The Union Bank at Cedar Rapids. Iowa, with a capital of $200,000, has decided to go into liquidation.The yellow fever is still raging with violence at New Orleans.--Cholera is making terrible ravages in China and Japan.-A correspondent of the New York Herald at Hampton Beach, N. H., reports conversations with exAttorney General Taft and Senator Rellins, who both believe Grant isa possible candidate for the next Presidency.-The army commission is in session at White Sulphur Springs. Their deliberations are secret.-Intense interest is manifested in the result of the great corner in wheat now being run by Milwaukee and Chicago commission merchants. The price has been steadily advancing for two weeks with a prospect of being maintained at present rates or at still higher ones during the remainder of the month. The visible supply of wheat is about 4.000,000 bushels, and it is stated that short sales for August delivery aggregate nearly twenty millions.-J. H. McVicker, for many years proprietor of McVicker's Theatre, Chicago, has filed a voluntary petition in bankruptcy. Liabilities $650,000, of which half a million is judgment against him as one of the bondsmen for David A. Gage, ex-City Treasurer, who defaulted in a large amount in 1875. -Kearney, the California communist and agitator, is in Boston.-The eclipse of the sun Monday was visible at the stations west of the Mississippi, but east of that river the sky was overcast; in the Territories very successful observations were made and the spectacle of the eclipse was interesting.


Article from The Superior Times, August 17, 1878

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e sisted in running fugitives over into Canada e on his vessel. Parker Pillsbury, ex-Conor gressman Williams, Gen. Pitchard, and other orators made addresses. THE astronomers from Rawlins and other e, s, points met at Denver, Col, on the 1st inst., a for comparison of notes and discussion of n observations. Prof. Watson feels certain that he has discovered Vulcan southwest of e the sun about two degrees distant. Prof. d Draper succeeded in getting a photograph cof the spectrum of the corona, thus proving that most of the light of the corona is reSflected from the sun, and is not due to igd nited gas. SS A SILVER CITY, Idaho, dispatch of the of 1st instant, says the hostiles are on their liway up Snake river. On the 31st ult. they stopped at Rauschmayor's ranch, and enrcountered a number of Chinese employes, as four of whom they slaughtered. The save ages have been committing serious depredaetions at Tucker's Creek and other points re within fifteen miles of Silver Creek. THE Union bank of Cedar Rapids, Iowa, er with a capital of $200,000, has decided to go dinto liquidation and close business. Ex-Gov. CAREY, of California, died at al San Francisco, on the night of the 29th, he after a prolonged illness. ue DR. WM. J. SNEID, of Nashville, entered is suits in the United States courts at Cincinng nati on the 29th ult., against the Cincinnati Enquirer for $20,000, and against the Commercial for $10,000 damages for alleged libel in publishing an article stating that Sneid by eloped with the wife of a eitizen of Nash1s, ville. A SAN DIรˆGO, Cal., dispatch of the 29th ge ult., says: A telegram from Campo, last oanight, says a runner arrived from Lower IcCalifornia with news that Pedro Badillo had ith attacked the officials at San Rafast, killing one soldier and wounding another, and that nd the whole frontier is up in arms. vas THE rendezvous for all unfriendly Innt, dians, both in Oregon and on the Washinghis ton territory side, is at the foot of Poest Rapids, where they are collecting in great by numbers. Chief Moses says he cannot connd trol his young men, and warns all settlers to he look out for themselves.