Farmers National Bank - Bushnell, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 1791
Charter Number: 1791
Start Date: December 2, 1884
Location: Bushnell, Illinois (40.553, -90.506)

Metadata

Model: gpt-5-mini
Short Digest: 464120b9

Response Measures

None

Receivership Details

Depositor recovery rate: 100.0%
Date receivership started: 1884-12-17
Date receivership terminated: 1888-02-10
OCC cause of failure: Excessive lending
Share of assets assessed as good: 16.6%
Share of assets assessed as doubtful: 4.9%
Share of assets assessed as worthless: 78.5%

Description

Multiple contemporaneous newspaper accounts (Dec 3–4, 1884) report the Farmers National Bank at Bushnell, Ill. 'closed its doors' / 'has suspended.' None of the articles describe a depositor run, reopening, or receivership; given repeated language of suspension/closure and no later reopening mentioned, I classify this as a suspension that led to permanent closure. Cause is not provided in the articles.

Events (3)

1. February 18, 1871 Chartered

Source: historical_nic

2. December 2, 1884 Suspension

Cause Details: Articles state the bank 'closed its doors' or 'suspended' but do not provide a clear cause for the suspension (no run, insolvency reason, or government action described).
Newspaper Excerpt: The Farmers' National bank at Bushnell, III., closed its doors yesterday.
Source: newspapers

3. December 17, 1884 Receivership

Source: historical_nic

Newspaper Articles (6)

1. December 3, 1884 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, December 3, 1884

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GENERAL NEWS. Waldo B. Brighara of Hudson, Mass., has gone into insolvency. He owes about $37,700, of which $4000 is secured. The assets for unsecured creditors are light The board of review of the National Trotting Association met at Fifth Avenue Hotel, New York city, last evening. The evening was spent in organizing and getting ready for the trial of disputed cases. Sixteen deaths from diphtheria have occurred at Omro, Wis., since Sunday. Public schools are closed. James Cunningham, station agent of the Oregon and California Railroad Company at Medford. Ore.. has confessed that he stole $12 o from the safe. He said that it was the work of masked robbers. The fair of Picket Buchanan Camp of Confederate Veterans was opened at Norfolk, Va., on Monday night. Some of the largest donations were from the Grand Army of the Republic posts and merchants of Northern cities. John T. Deweese, a well-known Denver, Col., at torney, was arrested on Monday on a charge of forging the name of Ebert N. Smith to a deed for real estate in that city. The first of a series of farmers' institutes under the auspices of the Barnstable County Agricultural Society met in Sandwich, Mass., yesterday. The subjects discussed were: "What method is the best adapted to eradicate wild parsnips?" "Is ensilage a success?" The New York college of electors met in Albany yesterday. and after organization with Eugene Kelly as chairman adjourned until today. The opening of the American electrical exhibition in Boston has been again postponed until December 8th, at the request of many large exhibitors who desire further time to prepare their exhibits. At the charter election at Hudson, N. Y., yesterday, Gregg (Dem.) was elected mayor by 3041 majority, and Dakin (Rep.) treasurer by six majority. John Logan, shot by Georgiana Conway in New Orleans, on Saturday night, and believed to be fatally wounded, has been pronounced out of danger. The Conways were thereupon admitted to bail, James Conway being held in $1500 and the two sisters in $2500 each. Howard Sullivan, a negro, was hanged at Salem, N.J. yesterday, for the murder of Ella Watson, a little white girl, on the 18th of August. One hundred and twenty gambling cases were disposed of yesterday at Dallas, Tex., by fines aggregating $6000. This ends the war against gambiing houses. The new cruiser Boston will be launched at Ches. ter, Pa., Thursday. The Erie Railroad has made an additional cut in rates to all points West. The rate to Chicago from New York is now $9. The New York Central has met this cut. Yesterday afternoon, the 13-year old son of Eagene Smart of Dover, N. H., had both legs cut off at the knees by falling under the wheels of a freight train while fooling around the train at the freight depot. State Treasurer Carter of New Hampshire has already received claims for bounties on 27,468 woodchucks. There is still a large part of the State to hear from, which will probably bring the number up to 50,000. The nail mill and rolling mill at the Fall River Iron Works have started up after a shut down of one month. Myron M. Davis, principal of the Davis Grammar School at Westfield, was yes:erday morning found vomiting and confessed he had taken Paris green while his wife was temporarily absent. He also cut a deep gash in his throat with a razor, partly sever ing his windpipe. His condition is very serious and his recovery doubtful. Lloyd has been subject to insane attacks and was under treatment a year ago. He is well known in educational circles. The French man-of-war Bouvet arrived at New Orleans, Sunday, from Martinique, to represent the French government on the opening of the exposition. The receiver of the Wall Street (N. Y.) Bank, yesterday, was authorized by the Supreme Court to pay a further dividend of 10 per cent. There were large sales upon the Bourse today of Panama Canal shares. This wa S the result of the statement relative to the Nicaragua treaty contained in President Arthur's message. The Farmers' National bank at Bushnell, III., closed its doors yesterday.

2. December 3, 1884 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, December 3, 1884

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ALL AROUND THE GLOBE. The supreme court has directed the United States Trust company to pay the order of the receiver of the Wall street bank $112,500 with which to pay a further dividend of ten per cent., making ninety per cent. in all. The Democrats of Fall River, Mass., elected their mayor by 100 plurality. The Republicans have a majority of four in the council. Reports late last night from Whitesburg, Ky., give account of a very deplorable state of affairs. Court is in session, and the friends of a murderer have armed themselves and declare he shall not be convicted. On the other hand the friends of the murderer's victim have armed themselves and declare he shall not escape. And to cap the climax the citizens have organized an armed band and declare the public peace must be preserved. Three of the burglars concerned in the recent robbery of the Kings county, N. Y., penitentiary were arrested yesterday. They admit their guilt and informed the police how the job was done. A panié was caused in the public school of Franklin, N. J., yesterday, through several scholars being prostrated by gas in the room, which came from the heating apparatus. The room was finally cleared of the gas by opening the windows, and those overcome restored to consciousness. Mr. Biaine and his family left Boston yesterday for New York. A dispatch from St. Johns, N. B, gives further particulars of the loss of the schooner Mary Joseph in the storm of Saturday. The disaster was complete and overwhelming, leaving no vestige of the vessel. The passengers and crew were all lost. An extensive cave in took place in slope five. at Stockton, Pa., Saturday, throwing 400 miners out of work. It is claimed by John Jarrett, general agent of the American Tin Plate association, that he has discovered a direct invasion of the tariff law in New York and Boston, where galvanized iron and steet sheets are being imported at the same rate as tin plate. The Farmers' National bank, of Bushnell, Ill., closed its doors yesterday. Cause of failure not known. The St. John board of trade yesterday declared it was not expedient to call for a vote on the question of annexation, but adopted a resolution that the maritime provinces should take such steps as seemed best to them on the question. Everything was reported quiet in Hocking Valley last night, and no further outbreaks feared. At a meeting of horsemen in Milwaukee yesterday the Wisconsin association of breeders of trotting horses was formed with H. L. Dousman as president, G. I. Case vice president and R. D. Torey, secretary. The secretary of the Lynehburg, Va., tobaeco association reports the sales of leaf tobacco for November at 1.87s,000 pounds. Henry M. Phillips was elected mayor of Springfield, Mass., yesterday for the third term. The Democrats made a clean sweep in the town election of New Haven, Conn., yesterday. A. W. Blye, of Syracuse, has been appointed receiver of the Middletown National bank, and took possession yesterday. The examiner will have a statement ready in a few days. The entertainment for the benefit of the Hocking valley minerstook place at Madison Square garden, N. Y., last night, and netted about $1,000. The recent rumors of the settlement of the passenger rates in New York were met with an effective contradiction in the reduction of the nominal rate to Chicago to $3 by the Erie. New York had a $125,000 fire last night. The immense buildings of J. & C. Fischer, piano manufacturers, and several tenement houses were consumed. The trial of Thos. Lome for the murder of Nellie Sullivan in North Andover, Mass., on May 24th, was begun yesterday in Salem. A fire yesterday at Schuyler, Neb., consumed half a dozen stores in the center of the town. Loss $25,000; insurance $15,000.

3. December 4, 1884 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, December 4, 1884

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General News. The Farmers National bank at Bushnell, III., closed its doors Mondav. The corner stone of the Memorial Episcopal church at Mattapan, Mass., has been formally laid. The receiver of the Wall street bank has been authorized to pay a further dividend of 10 per cent. The funeral of the late Dr. Latimer occurred Monday the 1st inst. in the Methodist church at Auburndale, Mass. The foot-ball question was recently discussed, by Harvard Professors and students. No conclusion was arrived at. A coal mine at Nanticoke, Penn., is caving in, and people who live above the mine are fleeing for their lives Eastern 6's moved up to 113 and the stock to 41 on Monday the 1st inst, Boston & Maine stands at 162. Passenger rates to Chicago were openly quoted in St. Louis, Monday, at 81 by all the lines but by noon the scalpers put the rate at 50 cents. The Somerville, Mass., shooting case is still involved in mystery. If the woman shot herself, as some profess to believe, no one has been able to find the pistol. There are large sales upon the Bourse of Panama Canal shares. This is the result of the statement relative to the Nicaragua treaty contained in President Arthur's message. The "lady of the White House," it is said, will be President Clevelsnd's maiden sister, who is described as about 39, wearing her hair short, and talkative and strong minded. The low rates at which tickets to Western points have been sold in New York, 88 and $9,50 to Chicago via the West Shore and New York Central roads respectively, has resulted in New England traffic for the West. going via New York. to such an extent that the Fitchburg and West Shore have decided to make a reduction of 83 from Boston to Chicago or St. Louis.

4. December 4, 1884 The Rock Island Argus Rock Island, IL

Article from The Rock Island Argus, December 4, 1884

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The Hartford Courant entered last week on its 131st year. The semi-annual dividends payable in Boston this m nth aggregate $3,972,570. Harvard University has this year 1,586 students, 1,006 being in the academic depart ment. The majority vote in favor of taxation of chur I property in Washington territory was 2,937. Dwight L. Moody, the evangelist, Tuesday began a three days' Christian convention in Toronto, Canada. El Dorado county, California, has produced six cucumbers all roiled together and looking like a fluted pumpkin. At Toronto, William Bone, aged 65, took laudanum because a girl of 19 jilted him. There is little hope of his recovery. The Wisconsin State Breeders' association organized at Milwaukee Tuesday, with H. C. Dousman, of Prairie du Chien, as president. The Farmers' National bank at Bushnell, Ills., has suspended. The bank was organized in 1871, and has a paid up capital of $50,000. Mrs. Mary Hagerty, aged 60 years, was run over and killed by the cars in the Wabash switch-yard at Jacksonville, III., Tuesday. Mr. Bartlett, of the navy department, has shaped a scientific model of the bottom of the Caribbean sea for the New Orleans exposition. A Canadian has had his tongue amputated at the general hospital in Teronto because of cancer, alleged to have been caused by cigar smoking. Governor Hoadly has commuted to life imprisonment the sentence of George Oliver, who was to be hanged in Cincinnati for the murder of Allen. There was executed at the mints during November gold coin TO the value of $1,535,700, and of silver 2,450,000 standard dollars, and 1,080,000 5-cent pieces, valued at $54,000. The bark Clyde, from Mauritius, was wrecked on Nov. 5 near Akaroa, New Zealand. The captain, his wife and three children and the officers and all the crew, except one, were drowned. The Edgar Thompson steel works in Pittsburg, employm 5,000 men, will close down the latter part of next week, and remain idle until after the holi lays unless there is an unexpected rush of or ers. The state departmentat Washington has recently received from Consul Atherton, of Pernambuco, a sample of the medicine now being, it is said, successfully used in South America in the treatment of cancers. Governor Glick has offered a reward of $500 for the arrest of J. C. Pusey, absconding clerk of the Kansas penitentiary. The warden offers $200 more. Pusey's embezzlements and forgeries amount to $5,000. A recent issue of The Rutland (Vt.) Herald was printed on paper made entirely of sawdust, shavings, clips, pieces of wood, and refuse of saw-mills, with not a particle of rag in it. The paper is strong and tough. The advocates of cremation ask the press to use the word crematorium instead of crematory in designating the building in which bodies are burned. They say that crematory is liable to be confused with creamery. The Hon. Abram S. Hewitt has secured, through his friend, the sultan of Turkey, a rich coll ction of Turtish books and manu scripts, whi h will be presented upon their arrival to the National library at Washington The woks are being bound in rich

5. December 12, 1884 The Middlebury Register and Addison County Journal Middlebury, VT

Article from The Middlebury Register and Addison County Journal, December 12, 1884

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South and West. CAPTAIN A. H. MURPHY, a prominent New Orleans politician and superintendent of the city's workhouse, was shot dead in the streets by five men, who made a simultaneous attack upon him. Recorder Thomas Ford, between whom and Murphy there had been bad blood, and all his court officers were arrested. THOMAS M. WATKINS and John H. Diggs, editors of rival papers in Maries county, Mo., had an encounter in the streets of Vienna, growing out of a personal controversy in their respective sheets. Watkins was shot twice by Diggs and killed. THE Farmers' National bank, of Bushnell, Ill., has suspended. It was organized in 1871 and had a paid in capital of $50,000. GOVERNOR HAMILTON, of Illinois, has awarded the certificate of election to Leman, the Republican candidate for senator in one of the Chicago districts, where there was a close vote and a contest. The Chicago grand jury returned a number of indictments for forging election returns in connection with this case. A FIRE at the Wisconsin State university, Milwaukee, did damage to the extent of $235,000. A PARTY of men entered Stephen Goodwin's house at Camilla, Ga., and killed him and Mrs. Gregory and son in their beds with axes. OYSTER pirates having again begun their depredations in Virginia waters, Governor Cameron sailed with his staff for Chesapeake Bay in the Stategunboat Chesapeake, on his third cruise after the raiders. DR. CALHOUN LAWRENCE and Lucius V. Simpson, cousins and prominent residents of Nechesville, Texas, met in the street and quarreled over a small debt. Finally both drew revolvers and shot each other dead. THREE prominent Mormons have been convicted of polygamy at Prescott, Arizona, and sentenced each to pay a fine of $500, and three and a half years' imprisonment. Two other Mormon bishops were sentenced to pay a fine of $500 and six months in jail. GENERAL LARKIN SMITH, a veteran of the Mexican war and a Confederate general died a few days ago at San Antonio, Texas, aged 71 years. A. DEPRECIATION in real estate securities has caused the failure of Raymer, Seagraves & Co., Toledo (Ohio) bankers, for about $500,000. B. T. O. HUBBARD. late cashier of the First National bank, of Monmouth. Ill., which failed recently for $400,000, has been indicted for embezzling $270,000 and lodged in jail. Hubbard lost the money in speculation. Two men-Colonel Torres and Jose Manuel Soto-were hanged at Salinas, Cal., for murdering a Chinaman, and John Scott (colored) suffered a similar fate on the same day at Mount Pleasant, S. C., for murdering a merchant who had arrested him for robbery. THIRTY Chinamen who were being smug gled from British Columbia into Washington Territory were drowned by the upsetting of boats. The temptation to smuggle Chinamen across the border is very strong, as for each one landed the owners of the boat generally receive $25.

6. April 7, 1885 The Rock Island Argus Rock Island, IL

Article from The Rock Island Argus, April 7, 1885

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THE NEWS IN BRIEF. Ex-President Arthur is said to be quite ill with malaria. Prince marck receive d 2,322 telegrams of congratulation on his birthday. Judge Hezekinh G. Wells, presiding judge of the court of Alabama claims is dead. The Peninsular Stove Works at Detroit were damaged $20,000 by fire Sunday morning. Capt. Elias Sins, for years prominently connected with the shipping interests of Cleveland, died Sunday, aged 72. Representative Randall, who has been seriously ill, was much better Sunday, and expects to be able to go out early nextweek. A New Hampshire court has been called upon to decide the question whether a woman may marry her deceased h usband's father. David B. Blott, a church leader at North Jackson, Ohio, confesses having forged the names of his father and brother to notes for $5,000. Professor Arminus Vambery, the distinguished traveler, gives it as his opinion that war between England and Russia is inevitable. Bishop McQuaid, of Rochester, has issued an order that hereafter in his diocese none but Roman Catholics and actual communicants shall sing in the choirs. Joseph Walton, a heavy coal operator on the Monongahela, conceded the 3-cent rate demanded by coal miners, and it is believed that other operators will do likewise. Arab deserters who have come into Gen. McNeill's headquarters report that Osman Digma has only 150 followers at Ekrotat, together with the members of his household. Reporters, printers, and editors at Winnipeg, were summoned, Sunday, for violating the Sabbath by getting out a paper containing the latest news regarding the Riel rising. W. C. Horn deserted from the Confederate army at the battle of Gettysburg, and has since been mourned as dead. Last Friday he returned to his home in Toomboro, Ga., and surprised his wife, who thought he was a ghost. A proposed banquet to ex-President Arthur, to welcome him back to New York, had been fixed for the 14th of April, but on account of Gen. Grant's critical condition, it has on Gen. Arthur's own suggestion been postponed. Charles W. Durant, ex president of the Chicago, Rock Island & Pacific railroad company, whom the New York supreme court recently adjudged to be a lunatic, died Sunday morning at the house of his son Frederick Chandler and Cummings, president and is cashier of the defunct Farmers' National Bank of Bushnell, waived examination before the United States commissioner, at Springis field, and were held to the June term of AS court in $20,000 each. U Clearings at the príncipal cities of the it United States last week show a decrease as n compared with the corresponding week of 1884 of 34.6 per cent. The decrease in New r York was 39.7 per cent. In Chicago the decrease was 19.2 per cent. e The preliminaries of peace between China y and France, under discussion with Ferry, are now suspended. The government at Pekin awaits a resumption of negotiations, but insists as a first condition that France at withdraw her prohibition of rice as contra1: band of war. h At Faurinburg, N. C., a hog ate heavily to of dynamite and then entered a lot where there was a drove of mules. The hog was it kicked by one of their number and immeto diately exploded and killed twenty of the is mules. This is vouched for by the local paper of the place.