3182. First National Bank (Burlington, IA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
351
Charter Number
351
Start Date
May 11, 1869
Location
Burlington, Iowa (40.808, -91.113)

Metadata

Model
gpt-5-mini
Short Digest
a93d1f23

Response Measures

None

Description

No run on the bank is described. Article from July 9, 1933 indicates the First National Bank of Burlington was licensed to operate without restrictions following the national bank holiday (systemic closure/restrictions in March 1933). An 1869 item merely notes the bank applied to resign as a government depository and is unrelated to the 1933 suspension/reopening.

Events (5)

1. March 29, 1864 Chartered
Source
historical_nic
2. May 11, 1869 Other
Newspaper Excerpt
The First National Bank of Burlington, Iowa, has applied to resign as a depository, and its resignation will be accepted as soon as its accounts are balanced.
Source
newspapers
3. October 15, 1923 Voluntary Liquidation
Source
historical_nic
4. March 1, 1933* Suspension
Cause
Macro News
Cause Details
Closed/operated under restrictions as part of the nationwide national-bank holiday and subsequent regulatory restrictions in March 1933.
Newspaper Excerpt
Licensing of national banks which were able to meet requirements for unrestricted operations began Mar. or 10 days after the banking holiday proclamation issued.
Source
newspapers
5. July 9, 1933 Reopening
Newspaper Excerpt
The national bank Iowa operating without restrictions the new First National Burlington, with deposits $480,856, June 30, at the close first month of business.
Source
newspapers

Newspaper Articles (2)

Article from The New York Herald, May 11, 1869

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Article Text

in withdrawing their securities. It is said that the department does not favor the retirement 01 designated depositories, since they no sooner obtain possession of their securities than they are thrown upon the market. The First National Bank of Burlington, Iowa, has applied to resign as a depository, and its resignation will be accepted as soon as its accounts are balanced. Changes in the Government Printing Office. A large number of the employes of the government printing office have been dismissed. Thirtysix were notified to-day that for reasons sufficient to the Congressional printer their services will no longer be required. A colored compositor, the first ever employed in the government printing office, was appointed and assigned to a case to-day. Removals in the Navy Yard. All the master workmen at the Washington Navy Yard are to be removed. and candidates for succession to their places have been before the examining committee. Negro Office Seekers at the White House. Two or three delegations from Alexandria, Va., have called to see the President within the past few days, having in view the disposition of the federal offices in that city. There is an anxiety among the colored citizens there to have persons of their own race appointed to prominent offices, and in advocacy of each appointment two or three colored delegations have lately visited the President. Prize Money for the Crew of the Augusta. The prize money due the officers and crew of the United States steamer Augusta for the capture of the Cheshire in December, 1861, will be ready for payment at the office of the Fourth Auditor in a day or two. The amount or money to be distributed is nearly $20,000. Duty on Wrought Iron Tabes. The Secretary of the Treasury has decided that the tariff, as well as commercial usage, recognizes a distinction between wrought iron tubes and wrought iron flues; and that the former are liable to a duty of three and a half cents per pound and the latter of two and a half cents per pound under the existing laws. The Rowley-Mason Jar Case. The celebrated jar case of Rowley VS. Mason has assumed a new phase. Judge Fisher had decided in favor of Rowley, but on Saturday the same judge granted a preliminary injunction staying the issue of a patent to Rowley, it being claimed that J. L. Mason was the original inventor and reduced the article to practice.


Article from The Des Moines Register, July 9, 1933

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Article Text

National Banks in Charge of Receivers in the State reported the comptroller the currency. 61 Not Yet Licensed. Payments amounting to $12,569,081 have been made to by 69 of the 76 national positors banks Iowa in receivership, according records on file in the office the comptroller of currency, United States treasury partment. The payments represent per cent of the total amount of deposits in 70 of the 76 institutions they suspended business. Deposits of the other six banks not computed in ernment records. Deposits $34,000,000. Deposits at the suspension business in the 70 banks amounted to $34,724,954. The receiverships cover period from Jan. 18, 1926, June 26, 1933. The 69 institutions which have made some payments the liquidation carried on der receivership have turned back an of 42.21 per cent average depositors The average total payment per bank to date $182,161. 94 Licensed. The federal reserve system, cording to the comptroller's licensed 94 Iowa national banks to operate without restrictions as far as the government concerned since the national bankholiday was lifted. These stitutions have on posit, government records show. The national bank Iowa operating without restrictions the new First National Burlington, with deposits $480,856, June 30, at the close first month of business. Other national banks may also be in Iowa on which records available in the lists of the comptroller of the currency. Licensing of national banks which were able to meet requirements for unrestricted operations began Mar. or 10 days after the banking holiday proclamation issued. 61 Yet Unlicensed. Sixty-one Iowa national banks not been issued licenses unrestricted and 'their are limited under regulations similar to those laid down for state banks under senfile 111. Most of these undicensed national institutions the state are in charge of conservators, and their management similar to that of state banks the state banking department. These 61 banks have total posits $23,507,000, government records show. Tables Give Records. Records of Iowa national banks operating under the three systems -receivership, restriction, unrestricted set forth tables this page. The records, taken from reports on file with the comptroller of currency, were compiled week ago. Any changes made in the since that time are not included in the tabled statistics. State banks which are members the federal reserve system have been omitted from the tables.