Commercial Bank - Burlington, IA

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 9, 1887
Location: Burlington, Iowa (40.808, -91.113)

Metadata

Model: gpt-5-mini
Short Digest: 1cc8fc42

Response Measures

None

Description

No run or depositor panic is described. Attorney General filed for appointment of a receiver to wind up affairs (claim of excessive borrowing by a stockholder). Classified as suspension leading to closure/receivership.

Events (1)

1. July 9, 1887 Receivership

Newspaper Excerpt: Attorney General Baker filed an application praying for the appointment of a receiver to wind up the affairs of the Commercial bank, of this city, and the hearing of the case was set for Tuesday next. The claim is that one of the stockholders, R. T. Root, has borrowed sums in excess of the entire capital stock, which is $60,000.
Source: newspapers

Newspaper Articles (1)

1. July 9, 1887 Rock Island Daily Argus Rock Island, IL

Article from Rock Island Daily Argus, July 9, 1887

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Article Text

An Iowa Bank in Trouble. BURLINGTON, Iowa, July 9.-In the district court here Friday Attorney General Baker filed an application praying for the appointment of a receiver to wind up the affairs of the Commercial bank, of this city, and the hearing of the case was set for Tuesday next. The claim is that one of the stockholders, R. T. Root, has borrowed sums in excess of the entire expital stock, which is $60,000.