3580. Coal Belt National Bank (Benton, IL)

View Charter #8234 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
8234
Charter Number
8234
Start Date
February 9, 1909
Location
Benton, Illinois (37.997, -88.920)

Metadata

Model
gpt-5-mini
Short Digest
9002266d4df0ca36

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1909-02-09
Date receivership terminated
1909-04-07
OCC cause of failure
Fraud
Share of assets assessed as good
26.0%
Share of assets assessed as doubtful
21.6%
Share of assets assessed as worthless
52.3%

Description

Multiple contemporaneous reports (Feb 9–10, 1909) state the Coal Belt National Bank of Benton, Ill., was closed by order of the directors and a receiver (George C. Ball) appointed. Closure traced to a prior defalcation by former president R. A. Youngblood. No article describes a depositor run prior to suspension.

Events (3)
1. May 25, 1906 Chartered
Source
historical_nic
2. February 9, 1909 Receivership
Source
historical_nic
3. February 9, 1909 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closure attributed to earlier defalcation by former president R. A. Youngblood, which produced the institution's embarrassment and led directors to close the bank and appoint a receiver.
Newspaper Excerpt
the Coal Belt National bank, of Benton, Ill., had been closed by order of the directors, and that George C. Ball had been appointed receiver.
Source
newspapers

Newspaper Articles (13)
1. February 9, 1909 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, February 9, 1909

Click image to open full size in new tab

Article Text

INTO RECEIVER'S HANDS. Benton, III., Bank's Troubles Date From Defalcation Several Years Ago. Benton, Ill., Feb. 9.-There have been many rumors here that the Coal Belt National Bank is in difficulties, but the extent was not revealed until the appointment of a receiver today. The institution's embarrassment is said to date from the defalcation a few years ago, of R. A. Youngblood, former president, who is now serving a term in prison. It is stated that other local banks have arranged to take over the assets of the Coal Belt Bank.

2. February 9, 1909 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, February 9, 1909

Click image to open full size in new tab

Article Text

George C. Bell Receiver. Washington, Feb. 9.-The comptroller of currency today announced that the Coal Belt National Bank, of Benton, Ill., had been closed by order of the directors, and that George C. Bell had been appointed receiver.

3. February 9, 1909 The Daily Gate City Keokuk, IA
Article from The Daily Gate City, February 9, 1909

Click image to open full size in new tab

Article Text

ILLINOIS BANK CLOSED ITS DOORS Coal Belt National Bank Closed, Action Taken by the Board of Directors. WASHINGTON, D. C., Feb. 9.The comptroller of the currency announced today the Coal Belt National Bank of Benton, III., had closed its doors on action of the directors. Geo. C. Ball of Illinois, was appointed receiver. The resources and liabilities of the bank November 27, 1908, the date of the last report to the comptroller of the currency were $84,080.87 each.

4. February 10, 1909 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, February 10, 1909

Click image to open full size in new tab

Article Text

National Bank Closed. Washington, Feb. 9.-The Comptroller of the Currency today announced that the Coal Belt National Bank of Benton, III., has been closed by order of the directors and that George C. Ball has been appointed receiver.

5. February 10, 1909 The Washington Herald Washington, DC
Article from The Washington Herald, February 10, 1909

Click image to open full size in new tab

Article Text

Illinois Bank Closed, The Coal Belt National Bank, of Benton, Ill., closed its doors yesterday by action of the directors, George C. Ball, receiver of the First National Bank, of New Kensington, Pa., and the First National Bank of Belle Plaine, Minn., has been appointed receiver.

6. February 10, 1909 Albuquerque Morning Journal Albuquerque, NM
Article from Albuquerque Morning Journal, February 10, 1909

Click image to open full size in new tab

Article Text

Receiver for National Bank. Washington, Feb. 9.-The comptroller of the currency todav announced that the Coal Belt National bank, of Benton. III.. has been closed by order of the directors, and that Geo. O. Ball has been appointed receiver.

7. February 10, 1909 Bryan Morning Eagle and Pilot Bryan, TX
Article from Bryan Morning Eagle and Pilot, February 10, 1909

Click image to open full size in new tab

Article Text

Bank Ordered Closed. Washington, Feb. 9.-The comptroller of the currency announces the Coal Belt National bank of Benton, Ill., has been closed by order of the directors. George Bell has been appointed receiver.

8. February 10, 1909 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, February 10, 1909

Click image to open full size in new tab

Article Text

Illinois National Bank Fails. WASHINGTON, Feb. 9.-The comptroller of the currency today announced that the Coal Belt National bank of Benton, III., has been closed by order of the directors. and that George C. Ball has been appointed receiver.

9. February 10, 1909 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, February 10, 1909

Click image to open full size in new tab

Article Text

TELEGRAPHIC BRIEFS ACTRESS UNIMPROVED-The condition of Miss Blanche Walsh, the actress, who in is seriously ill at the University hospital Kansas City, Mo., was unchanged yesterday. SMELTER CLOSED-The big smelter at Velardina, Mexico, owned by the American Smelting and Refining company, has been closed on account of a strike. The plant employs about 1000 men. KILL PRIMARY BILL-The Montana state senate yesterday by a strict partisan bili vote killed the house primary election which was patterned after the Oregon law and which relates solely to the election of United States senators, week VENIRE SUMMONED-Judge A. B. Anderson, in the United States district court at Chicago, yesterday issued an order for 25 a venire of 150 men to appear February for service in the retrial of the famous Standard Oil $29,240,000 fine. FACTORY DESTROYED-Fire of unknown origin early yesterday completely destroyed the Missouri, Kansas & Texas railroad creosoting plant, located four miles estifrom Greenville, Texas. The loss is mated at between $150,000 and $200,000. HONOR MRS. TAFT- Mrs. William H. Taft, wife of the president-elect, has been elected to membership in the Connecticut society, Colonial Dames of America. Mrs. Taft is a descendant of Thomas Welles, governor of Connecticut from 1855 to 1858. MORRIS ADLER DIES-Morris Adler, for years the head of the firm of Adler in Chicago, hide & thirty Oberndorff stock dealers yards, and packers of by-products at the dead. His health was broken down several is months ago by an attack of kidney trouble. ACCUSED OF MURDER-M. Pearl, one of the Greeks implicated in a fight with Hindu laborers at Marysville, Cal., last Thursday, when one Hindu was killed and two injured, has been arrested and charged with murder. He was identified in a crowd of twenty men by one of the injured Hindus. TO DOUBLE CAPACITY-The Great Western Power company at Marysville has changed its original plans and will at once double the capacity of its Big Ben plant, making its capacity 144,000 horsepower. $5,- It is announced the company will spend 000,000 during the spring and summer. ANGELENO ARRESTED-H. A. Gray, said to be from Los Angeles, was yesterday arrested at Atlanta, Ga., on suspicion charged with having 100 blank checks printed purporting to be from a bank in Rochester, N. Y. Gray said he had the checks he in making these firms believe carried to exhibit a large bank balance. DRASTIC "DRY" LAW-The Kansas state judiciary committee presented a bill yesterday which provides for the discontinunce of all druggists' permits, forbids the keeping the of liquor at clubs and places a ban on sale of liquor for any purpose whatsoever. It is the most drastic prohibition measure ever introduced in the Kansas legislature, GIRLS DROP FAR-An electric elevator fell ten stories with fifteen girls at 37 East car Eighteenth street, New York, yesterday, but as the mechanism held for brief moments at the seventh and third floors the force of the fall was broken, and all of the girls escaped serious injury. Four of them fainted from fright, caused by their rapid descent. BANK SUSPENDED-The comptroller of the currency today announced that, the Coal Belt National bank of Benton, Ill., has been closed by order of the directors and that George C. Ball has been appointed receiver. The bank's embarrassment is said to date from the defalcation of a few years ago of R. A. Youngblood, former president, who is now serving a term in prison. VENIRE EXHAUSTED-What was left of fifth venire was in court at Nashville, Tenn., the yesterday when the attempt was made to secure a jury to try Colonel and Robin Cooper and John D. Sharpe for the killing of former Senator Carmack. The remainder of the venire was exhausted quickly without qualifying a single man. The court ordered the 500 new names drawn from the box for sixth venire. DIES IN SEATTLE-Edward Oziel Graves, in Russia, N. Y., in 1843, assistant treasurer born of the United States under the Arthur administration and chief of the bureau printing and engraving in Cleveland's ad- of ministration, died in Seattle yesterday creeping paralysis, after an illness of two For twenty-six years Graves was conyears. nected with the treasury department at Washington, D. C., and from a modest clerk- he to which he was appointed in 1863, was ship, rapidly advanced to assistant treasurer.

10. February 10, 1909 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, February 10, 1909

Click image to open full size in new tab

Article Text

ILLINOIS BANK BROKE. President of the Institution Now Serving Term in Prison. Washington, Feb. 9.-The comptroller of the currency today announced that the Coal Belt National bank, of Benton. III., had been closed by order of the directors. and that George C. Ball had been appointed receiver.

11. February 11, 1909 The Bemidji Daily Pioneer Bemidji, MN
Article from The Bemidji Daily Pioneer, February 11, 1909

Click image to open full size in new tab

Article Text

Receiver for Illinois Bank. Benton, III., Feb. 10.-A receiver was appointed for the Coal Belt National bank. The emharrassment of the institution is said to date from the defalcation a few years ago of R. A. Youngblood, former president of the bank, who is now serving a term in prison for his crime.

12. February 17, 1909 The Enterprise Malta, Harlem, MT
Article from The Enterprise, February 17, 1909

Click image to open full size in new tab

Article Text

passed between Madrid and Havana during the progress of the Spanish war show that Spain surrendered Cuba because of fear that the United States warships would attack her coast and revolution. B uo build Martin Oberman of Chicago, suddenly becoming insane on a train in Iowa, stabbed Ernest Richards of Parkersburg, Ia., and E. S. Dawson and G. Logan Grenwell of Chicago. The schooner Sarah W. Lawrence was driven ashore off the Delaware coast and pounded to pieces in a gale. The crew escaped. The California assembly rejected the bill segregating the Japanese school pupils and President Roosevelt expressed his pleasure in telegrams to Gov. Gillett and Speaker Stanton. President Roosevelt accompanied by Mrs. Roosevelt, Miss Roosevelt and several government officials left Washington for Hodgenville, Ky., the birthplace of Abraham Lincoln, where the president is to deliver an address and lay the building. corner-stone of a memorial The body of Smila Martorfeld, the belle of the Greek colony at Duquesne, Pa., was found in the cellar of her home, her throat cut. It is believed she was slain. According to a report Mr. Taft has asked J. M. Dickinson of Tennessee to become secretary of war. Although a citizen of Tennessee Mr. Dickinson spends much of his time in Chicago. He was a Democrat, but espoused the Republican cause in the last presidential campaign. Rev. George Gunnell, pastor of St. Andrews church, Philadelphia, has been extended a call to fill the rectorship in Toledo, made vacant by the resignation of Rev. Cyrus Townsend Brady who goes to Kansas City. The state highway commission decided to suspend the chauffeur's license of Harold Vanderbilt of New York, a Harvard student. On February 4 Vanderbilt was convicted in the Boston municipal court of recklessness by operating an automobile. Great Britain has accorded to Armour & Co. a contract for canned corned beef extending for three years and running into large figures. The initial delivery, amounting to between 500,000 and 1,000,000 pounds, will be made next summer. The goods will be put up under the supervision of British army officers. The federal grand jury at Muskogee, Okla., indicted 26 representatives of big corporations on charges of stealing timber territory. from segregated lands in the The middle west was in the grasp e in of the storm king, Chicago, and cities Wisconsin, Minnesota, Iowa, Ned braska, Kansas, Missouri and the Da7 kotas reporting much damage. P. Kellum, editor of the News at College Corner, Ind., was slain 1 Clyde Henley who committed by suicide soon after the murder. A President Roosevelt refused to give p testimony in the libel suit of Bird S. Coler against a Brooklyn newspaper. The Coal Belt National bank at BenI ton, III., was closed on an order from S a national bank inspector. Thefts by p a former president are blamed. S The Canadian Pacific railway made known its plans to open for settlement S 3,000,000 acres of reclaimed land the Bow River district of in Alberta. The land has been made inhabitable by the installation of a gigantic irrigation system. M Boys opened a switch on the Illinois S Central at Coldwater, Miss., causing -t wreck of the Chicago Flyer, a killing one person and injuring 20. Land donated by farmers for the y right of way for the Indiana Central [ Traction Company, which was to have been built from South Bend to Hunta ington, was bought back by the former e owners Warsaw. at a delinquent tax sale at u The Cunard Line steamer MaureI tania established a record for the east0 ern voyage. The liner covered the 'S distance, 2,934 miles, at an average knots. 25.20 JO peeds 1Russia has sent a reply to Turkey et to announcing her readiness in principle TS liquidate the entire war indemnity, A the details of which are now under consideration by financial experts. nt The murder of Miss Clara Rosen in 10 Ottumwa, Ia., remains a mystery. Ten ua them suspects have been arrested, among UT a negro against whom the police -u claim to have some evidence

13. February 18, 1909 Heppner Gazette Heppner, OR
Article from Heppner Gazette, February 18, 1909

Click image to open full size in new tab

Article Text

Buchanan has signed a treaty with Venezuela settling all disputes. The Montana legislature will take up the Japanese exclusion question. Cleveland shippers say competition between the Harriman lines is a farce. The order of Elks has asked congress to protect Wyoming elks from starvation. The Waters-Pierce Oil company will fight the Standard in the Missouri courts. Harriman has started on a tour of the South and West to inspect his railroads. Taft says the president and governors should work together for the good of the country. A big reception is planned when the fleet arrives home from its voyage around the world. Prominent Canadians also favor the exclusion of Japs from schools attended by white children. A preacher in Wyoming stopped a train to get the crew to act as witnesses at a wedding. Protracted drouth in parts of Texas have driven cattlemen to extremes to procure food for their stock. Russia has violated the Portsmouth treaty and the United States and Great Britain may protest jointly. Eastern wool buyers have formed a combine. Several persons have been killed in Mexican riots against landlord rule. A jury has been secured in the bribery case against Calhoun in San Francisco. A tornado in Delaware and Pennsylvania killed two persons and destroyed many buildings. California fruit raisers failed to get the increased rates on dried and canned fruit rescinded. Taft's engineers say that a sea-level canal is out of the question, as the cost would be incalulable. President Gompers, of the American Federation of Labor, says 2,000,000 men are now out of employment in the United States. New Orleans is preparing a great welcome for the Taft party, the principal feature of which will be a typical Southern banquet prepared by Creole cooks. A Chicago firm has been awarded a contract to supply the British army with corned beef for a period of three years. The first delivery, between 500,000 and 1,000,000 pounds, will be made next July. As a result of a search he has been making in the Interior department, Representative Hawley has discovered that the Corvallis & Yaquina wagon road bill, rceently introduced in the house, contains a joker which would operate to defraud the government out of sevreal thousand acres of valuable land in Oregon. Certain senators have revived the cry for a sea-level Panama canal. Many more prominent men have been indicted for Oklahoma land frauds. A terrible blizzard is ragingover the entire country east of the Rocky mountains. France and Germany have signed a treaty of peace regarding Moroccan affairs. Mutual pledges of peace and good will were exchanged between King Edward and Emperor William at their banquet in Berlin. Fire of unknown origin destroyed the Missouri, Kansas & Texas railroad creosoting plant, located four miles from Greenville, Texas. The loss is estimated at between $150,000 and $200,000. Mrs. Ruth May Swift-Eversz, of Chicago, who was left a fortune of $5,000,000 by her father, the late Gustavus Swift, was granted a divorce from her husband, Ernest H. Eversz, by Judge Gibbons. The union jack of the battleship Maine, which was sunk in the harbor of Havana, was received at the Navy department from Captain J. C. Fremont, commanding the United States ship Mississippi. It will be added to the collection in the museum at Washington navy-yard. The controller of the currency Tuesday announced that the Coal Belt National bank, of Benton, Ill., has been closed by order of the directors and that George C. Ball has been appointed receiver. The Coal Belt National bank's embarrassment is said to date from the defalcation a few years ago of R. A. Youngblood, former president of the bank. Secretary Garfield admits he is not handicapped by limitation of secret service.