4142. Bank of Elkhart (Elkhart, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 3, 1902
Location
Elkhart, Illinois (40.021, -89.483)

Metadata

Model
gpt-5-mini
Short Digest
dd34685a863bfd16

Response Measures

None

Description

Newspapers (Mar 3, 1902) report the Bank of Elkhart failed to open following an investigation by the bank examiner and is described as suspending operations because of a shortage. Articles state assets will cover liabilities and depositors will be paid, but no reopening date or resumption is mentioned in these clippings. Classification as suspension_closure chosen because only a suspension is reported and there is no evidence here of reopening.

Events (1)
1. March 3, 1902 Suspension
Cause
Government Action
Cause Details
Bank failed to open after an investigation by the bank examiner revealed a shortage; suspension followed the examiner's actions.
Newspaper Excerpt
The Bank of Elkhart failed to open its doors for business this morning, following an investigation by the bank examiner.
Source
newspapers

Newspaper Articles (2)
1. March 3, 1902 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, March 3, 1902

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Article Text

ELKHART BANK CLOSED. Suspension Thought to Be the Result of a Shortage. Elkhart, Ill., March 3.-The Bank of Elkhart failed to open its doors for business this morning, following an investigation by the bank examiner. The deposits are $80,000. The exact amount of the shortage is not known. President Taylor states the assets fully cover all liabilities and depositors will receive every dollar on.deposit.

2. March 3, 1902 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, March 3, 1902

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Article Text

BANK OF ELKHART, ILL., SUSPENDS OPERATIONS Elkhart, III. March 3.-The Bank of Elkhart failed to open its doors for business this morning following an investigation by the bank examiner. The deposits are $80,000. The exact amount of the shortage is not known. but President Taylor states the assets will fully cover the liabilities, and depositors will receive every dollar on deposit.