First National Bank (Cairo, IL)

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Episode Information

Episode UID
3300885
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
330 national
Charter Number
33
Start Date
September 29, 1873
Location
Cairo, Illinois (37.005, -89.176)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
61414f6fff8015ce

Response Measures

None

Description

Articles describe Cairo's banks (including the city's National banks) temporarily suspending cash payments and issuing certified checks during the 1873 panic.

Events (3)
1. July 24, 1863 Chartered
Source
historical_nic
2. September 29, 1873 Suspension
Cause
Macro News
Cause Details
Part of the wider financial panic of 1873 (Black Friday/market panic), leading Cairo banks to suspend cash payments and issue certified checks.
Newspaper Excerpt
CAIRO. September suspended currency 29.-The payments. banks of 29. and The Cairo banks have followed the course adopted elsewhere, and issue temporarily certified checks.
Source
newspapers
3. October 10, 1874 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (4)
1. September 30, 1873 New Orleans Republican New Orleans, LA
Article from New Orleans Republican, September 30, 1873

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Article Text

1989. WHOLE NUMBER H. This action of the cipated action of the banks, was with as Clearing e. Produce buy meeting sterling this afternoon Messrs. Dowes Ex House Associal behalf of the proposition pterThe Hamphred on the following Association ap change, made Clearing House consestanting OutorThat the of five, buy rept commercial hirds of Ime point different committee banks. lading attached, to committee and for make the How. to bills many requisition with bills on of the House loan certificates for the the loan ker, ears issue benefit The of shippers which was will referred probably report to well the think rett, committee, day at seven. eigh, morrow. Money said yesterday faith now the in pred, will age Jay Gould have and believe that for a inerout the panic advance over of be prices more buoyant than of the flow eme6 long market Wail street time past. worthless has been stocks cleaned process and of ca few lled the ward great part by the purging comp paratively of real Securities there are except those too chil panic, now and quoted cases prices ividend are now pay kin, ames stocks value. In in that of advance good necessary to low. and very large actual worth. that the age stocks them to their advance soon the of bring The reasons for will an become owing as which to the the money Stock market Exchange is of opened, greenbacks wi in fully very the large disbursed quantities by the that an immense circurees, have been bond purchas has been put into in issuing lash amount its late of capital action of the banks which displace that rtil few lation by the certificates. currency gold. edin Clearing bonding House quantity of millions diately the that England correst is sending into active over use immedia has had the the which will come and that specu it will be all han The street. ards such on arrival, long when sleep it wakes more up settled again. better. on the able doing. more Affairs lively are stock becoming market is a little are: 8808, Union Pacific with consider anotations Pacific ttee The street York Central 89 @90; Rock Isl. the been 19@21: @32: New Lake Shore 41 bid: Union, Ohio the and. Mail 31@ 87 4/2 bid; Northweatevertern 2842@30; Drs. from Mississippi 106 dealings bid. to-day of have this 63 asked; The stock week, entirely following an been. Later.- as during character, last but quotations the New Central row 991 Vs: ap are irresponsible the closing streets @93; Lake Lacka Shore awanna 75@76: 88@ tion 33 4/ @ ntry York Rock Western Island Union 90 1/2 68@69; Ohio 30@31: St. Paul Harlem North 90; 34, Pacific 51@62; Mail 34 1/2: Wabash 41% 15; 21 @22 & al this to-day, western 110; Erie 43@44; Union Co. and Pacific Howes & a large Macy ated east have done a Both Clews their good depositors business having resumed & ion har number business of with nothing them. new relative Co. to Fisk and here Hatch. There Jay that Cooke several & heavy last, business paid as ent It is stated on Saturday month to ese men of this and city, five per cent engagements. l of to its high as four to meet passing issued circular for obtain money goods house per cent on all discount for be One large customers dry offering paper two due them for Woolen as the month cash. president of the Glenham which suspended any of The Company, to make us, ter at to-day. Manufacturing is not Its yet capital prepared mated 200 acres at over of Glenham, ese to operatives. statement $1,000,000. The company with large owns factories and in Sons. unave of land dwellings suspension for 500 of B. Bullock's caused by the suspension ant abort $600, the Philadelphia The to the day, Glenham was 000. company, there and was will which owes Produce the firm Exchange feeling today and busic working host are difficulties At the decidedly impro back proved into its old channels. in obtaining ken thal dispelled. nees The appt 18 apprehensions exchange as are to gradually being to Augusta orts the 29-All not low AUGUSTA. Ga., September resumed currency continues pay dull and have partially cotton market were sold day. ments. banks but nominal; the only fifty-two bales on Vicksburg. The Vicks on. burg Bank. VICKSBURG. E. September S. Butts. cashier. continues business as usual. Cairo. this D. city have Charlotte. CAIRO. September suspended currency 29.-The payments. banks of 29. The wo tal CHARLOTTE N. as C., usual September to move cotton. banks are paying Savannah. re The Mer ow SAVANNAH, National, September and Anderson, banker, continue chants to pay currency. ro Louisville majority assoay. the LOUISVILLE, formed September a clearing house to suspend of of the banks vesterday and resolved amounts. The late ciation currency in large Saturday are sylpaying suspended last into the clear banks that cements to go Kentucky making arra ociation. arrangen The Bank iation, of and con to tinues meet demands. Me declines ing to go into the There is no run nce cirde ous upon however. is no excitement In Clearing financial House Association ow cles. There and the was action approved of the by the Board of the ned Trade to day. German banks. seven Saturday in morning. number, lication or were which The closed their doors for membership received. in the for made Clearing ap House to-day were and admitted. making the Two other banks all. The banks were to paying day. 098 twenty-one in amount of currency with out limited chants are generally satisfied the and me fied check anticipated basis. the off inconver their Manufacturers funds to pay themnience but in getting the banks have interests pledged far as aid hands, to look after their believed that the of selves possible. It is generally short duration. ble pressure will be Charlottesville. 29 In September va hat a of the crisis of Virginia in the has are consequence cities, the University All the students temporari rious arrangements for embarrassed credits. by the same. Canton. eta gb The banks en CANTON. III.. September have suspended Philadelphin. nt. ve wool Bentamin Bullock this morning for all large their ck dealers. suspended ample assets to was pay caused ng. sum, but have This suspension Manufactur obligations. the Glenham them Company. a: by the failure of of New York, who owe be about ing $600,000 one of the members, National is a ut Joseph Bullock Corn Exchange only director of the owe that instit tion which m Bank. but they is covered with collaterals 18, ment. for $15,000. twice that amount caused no unusual excite. This affair and in has business circles generally there confidence a St. Louis. al & Ker Curry on W to Sr at LOUIS, Jefferson September City. and unspended. two banking re houses by. at Chillicothe, have has been very es The financial situation much more confident all e quiet to-day, and manifested in nearly with feeling has been no lack of currency discounting It be circles. which to transact There is but business the bank and are most dequite limited, and there is cidediv a more paying is checks tranamil in kind, and honefu tone

2. September 30, 1873 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, September 30, 1873

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Article Text

tho they do. No leaf tobacco month. has been in Nashville good market in the past WESTERN COUNTRY BANKS. CEDAR RAPIDS, 1A. Dispatch to The Chicago Tribune. CEDAR Special RAPIDS, Ia., Sept. 20.-Privato announcing dis- repatches from Chicago to-day, had a very by some of the banks there, manifost sumption encouraging effect here. Bank latter officers portion of less anxiety than currency during in the some of the banks inlast week, and rather than diminished restored. to-day, dicating has increased that confidence is being FOND DU LAO, WIS. Dispatch to The Chicago Tribune. Special LAC, Wis., Sept. 29. business response men to FOND DU by a large number of of Fond a call signed heaviest depositors. the bankers emal and the decided this morning to pay receive only for du Lao in currency, and to certify on each and other. The sums all purposes has passed certified quietly, checks the plan working well, with day no indications of a run. BLOOMINGTON ILL. in Dispatch to The Chicago Two Tribune. Special Ill. Sept. 20.- banks and BLOOMINGTON, rosumed full payments to-day, this city financial looks hopeful hore. everything BPRINGFIELD The Chicago ILL. Tribune. Special Dispatch to 29 :-There was no oxciteSPRINGFIELD, to-day Sept. at all, and tho is banks believed moved that is fully confidence mont on smoothly here and confidently. rostored, It and no further some unlooked-for trouble is anticipated unless The deposits to-day were largely event should in excess happen. of DUBUQUE, the amounts IA. paid out. Tribune. this one Special Dispatch to The 29. Chicago The banks of DUBUQUE, In., exception Sept. of the Merchants' Nor BB usual. to-day city, tional with and the Dubuque Savinga The Banks, panto are is doing over. with the National business A committee of the Merchants Examinor, M. O. Dering, are of United States Bank the condition engaged to-day in examining disparaging to the of management well that bank. A thousan the bank rumors are afloat, and it Thore is to founded. doop feeling be feared somo of of them insecurity are among depositore. is The truth will BOOLL be known. MINN. ST. PAUL. Chicago Tribune. Special Dispatch 29. to The The financial situation is unchanged. ST. PAUL, Sept. City banks to-day than Inst were week. more The oral with their Minneapolis customers banks were expecting contrareport that suspend o-day is explicitly confident foolSaturday to commorcial circles a and dictod. In that the worst is over, from all Chicago. classes ing prevails are encouraged by to-day's reports MCGREGOR IA. Tribune. Special Dispatch Sopt. to The 29. Chicago Il checks that have McGREGOR, In. to the First National The Bank bank been presented been paid promptly. meet all this in city good have condition, and fully able to domands. SAGINAW, Sept. SAGINAW, banks, 22. MICH. which Everything are doing is their quiet regular at our business two in cities the old discloses way. the of visit to the during banks the of the excitement the of banks Friday were and Saturday, fact that, the deposits of of nine the currency drain out. considerably in excess KEOKUK. of 20.-The excitoment KEOKUK, has In. given Sopt. way toa feeling of confidence no furSaturday There have been the monand encouragement indications of a run on the banks, almost entirely business ther oy drawn out having been transactions. used The deposbanks for have ordinary been larger than usual, than and at the the opening had its more money The at news the close from all quarters the general is roof business. with much satisfaction, and AURORA. conviction colved here is that the panic is over. very Ill., Sept. Financial Merchants nro matters are dousual, AURORA, quiet in Aurora to-day. and taking 08positing in the to draw banks as as little as possiblo deposit from t social pains Orders have been given Burlington to & the banks. earnings of the Chicago, National, of this the Quincy Railway in the ordore. First The Company will city, commence until paying further their employes at will the pay eastern about end of the road, the month and it is as expected usual. The corporation, distribuas early 8100,000 in from this railroad people to tion of in Aurora, causes our with interest. each study month, the pocuniary prospecte of this Company YONKVILLE, ILL B III., Sept 29 No bank-suspension and too to here. YORKVILLE, Too much grain in this make region, it necessary to much money Thirty flowing -loade in of corn aud oatswere A. Godsuspend. from this place last week by J. this week. y shipped and thirty more will be shipp than ed two weeks dard, Prices are but a fow cents being lower made upon the past o 22 conts. week's ago. Settlements transactions, are with corn at 30, and oats at COLUMBUS, o. The trouble financial of COLUMBUS had o. but Sept. very alight effect upon propared this d city. has as While yet all the banks precaution have been has proved for a run, thus Instead far this of disastronaly affecting unnecessary. establishments, there is the usual find manufacturing and all skilled mechanics d work going their on, labor. New manufactories full are demand for and all old ones are running being of built. and cannot fill their orders. caud sets hands, banks buy Eastern exchange very Our and discount scarcely any paper. tionely, been no concorted action among the its is own affairs. bankers, There has each firm proferring to attend to JEFFERSONVILLE, IND. 20 First The ir JEFFERBONVIL Ind., Sept an hour later National Bank of this city opened declined to pay 10 this morning, and account of than usual except for email amounts, on National ly a checks scarcity of currency. The Citizens' upon it. the meeting all demands made Car & 10 la Bank It is is reported that the Ohio Falls all oporations Lo- nt that to mammoth comotivo Company concern, will suspond thoreby throwing 700 to men out of employment. ILL oPEORIA, Ill. Sept. PEORIA, 29. Our banks had here occurred. are toin day doing business general BB if nothing thing, run larger than to 0The the amounts deposits, drawn, ne a and confidence in the solvoncy of our bauks is fully ILL. rostored. Sept. CAIRO, 20. In compliance this with morn- the to to banks ly resolutions CAIRO, III., adopted by the Chamber suspond currency g. ing. requesting the two the National Banks of this adopted city an 80 payments, will to-day adopt a plan other similar citios, to giving that certified drafts in Cincinnati or exchange and in payment of chocke. DEB MOINES, IA. all Special D{spatch to The 39. Chicago Monoy Tribune. matters ed DES MOINES, to-day. Sept. A large majority all of the amounts lown In to the panio, banks quiet here have not stopped paying nearly out all the emaller the depositcities, co. go sized during towns, and in banks some large of amounts on timen, ors checks are drawn owing to the purchase grain, live stock, and goods. on he ABROAD. LONDON, Sept. 20 £225,000 in bullion were a-

3. October 8, 1873 The Cairo Bulletin Cairo, IL
Article from The Cairo Bulletin, October 8, 1873

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THE Mound City 'Journal' has this to say of the action of the Cairo banks: "The Cairo banks have followed the course adopted elsewhere, and issue temporarily certified checks. In fact, inasmuch as all the other banks did so they could not do less; for they are compelled to have large deposits constantly in bank at New Or- leans, Chicago and other points to enable them to do a regular banking business and extend the common accommodations re- quired by the business public, and of course these deposits are temporarily tied up. The Cairo banks did not suspend, however un- til petitioned to do so by nearly all of the leading business men of that city, who deemed their interests in connection, with the bank required this, and pledging them- selves to stand by the banks and receive certified checks the same as currency."

4. October 25, 1894 Barton County Democrat Great Bend, KS
Article from Barton County Democrat, October 25, 1894

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power. Ah'se never furgit de panic 1873. It gibs me de heart disease to think ob it yit. Ah was nussin' de yaller fever in Memphis, an' arter dat Ah wus er runnin' de ribber. De yaller fever wages wus good an' Ah done saved one hundred and seventy dollars. Ah put it in de Fust national bank at Cairo. One day Ah sees in de paper dat all de banks wus er bustin'. It was arter what dey called Black Friday. Ah couldn't wait 'twill de boat gits ter Cairo. We gits thar at six o'clock in de mawnin', an' Ah jes humped up de hill to de bank. De fust thing Ah see wus a notice, 'Bank closed.' Ah sot down on de bank steps an' Ah dess cried an' boo-hooed-Ah wus only a young feller den. Bimeby Ah axed er sto'keeper whar dat white man lived what kep de bank. He didn't know, he said de man'd be about de bank at nine o'clock. Ah waited, but Ah didn't hope to ever see mah money agin'. When de bank man come along Ah nailed him. Ah wus near tickled to deff wen he said Ah could git mah money. Ah axed him whuffer he put de sign up: 'Bank closed,' an' he laffed an' said dey done dat ebery day at free o'clock. Ah gits mah money outen de bank anyway, an' Ah says to mahseff, 'eff de Lord'll furgib me fur puttin' mah money in er bank an' gittin' a skeer like dat, Ah'll never do it again, an' Ah never has. So yer sees Ah doesn't hole de dimmicrat party fur de panic obde las year. "Mr. McKinley blame the dimmercrat party fur de hard times, short work an' low wages. Ah has seen de hard times er mighty heap harder dan dey is now, an' Ah don't see as wages is any lower now dan dey has bin un. der de 'publicans. Ah knows dat steamboat wages got down indurin' de 'publican power, an dey has never got up since. Ah don't blame. de publicans fur dat. Ah blames de steamboatmen, an' de fool niggers as 'ud be willin' ter do de wuk fur de low wages. An' so Ah don't blame de dimmercrat party fur de hard times nuther. "Somebody in de ordnance tole Mr. McKinley ter ax Mr. Neidringhaus why he shet down de tin plate mill fur. He look eroun', but Mr. Neidringhaus, who was er setin' near me, diden' say er word. Ah espect if he'd done tol de truff he'd er had ter say dat it wus polertics. Ah has come ter de 'clusion dat some ur dese yer mill men has dess dun dat er purpose ter mek out laike dey cain't mek er livin' under dat free traffic. Dat is wrong. Er man oughter ter hepp his fellow-men. Ah is done it lots er times. An is dun 'thout things mahseff when Ah seed people as needed 'em wus den Ah did. "Dese fellers what shets down fur de sake ob polertics 'minds me ob er man An knowed in Mississippi. He wus er sort er ejut, sorter wrong in his head. Someone gib him er pa'r er shoes as didn't fit him. Dey pinched his foot, an' ter git even he up wid er ax an' chop off his hull foot.' At this stage the Chief Eagle's soliloquy was interrupted by the arrival of a delegation of influential citizens, who wanted his influence in the interest of a certain candidate in the coming campaign, and, excusing himself to the reporter, he went into executive session with the visitors.-St. Louis Republic. POINTERS