4240. Central National Bank (Chicago, IL)

View Charter #2047 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
2047
Charter Number
2047
Start Date
November 22, 1877
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini
Short Digest
e5dbf609

Response Measures

Borrowed from banks or large institutions, Full suspension, Books examined

Receivership Details

Depositor recovery rate
65.6%
Date receivership started
1877-12-01
Date receivership terminated
1892-02-23
OCC cause of failure
Losses
Share of assets assessed as good
32.2%
Share of assets assessed as doubtful
33.0%
Share of assets assessed as worthless
34.9%

Description

Multiple contemporaneous reports state the Central National Bank (Chicago) experienced a slight run, closed its doors on Nov 23, 1877, and went into liquidation/receivership. The run was driven by deposit withdrawals tied to the failure/rumors about other local national banks (notably the Third National) and gradual shrinkage of deposits; later investigations revealed mismanagement/crookedness. I correct minor OCR name variations (Endicott spelled Eudicott / Endicott in some pieces) to W. F. Endicott.

Events (6)
1. September 18, 1872 Chartered
Source
historical_nic
2. November 22, 1877 Run
Cause
Local Banks
Cause Details
Gradual shrinkage of deposits and nervousness following the failure of the Third National and rumors about other banks led depositors to withdraw funds (about $200,000 since Oct 1).
Measures
No extraordinary public measures noted; officers prepared statement of condition and arranged remittances via Northwestern National and planned liquidation to pay depositors in full.
Newspaper Excerpt
The bank experienced a slight run yesterday, and since October 1 some $200,000 have been drawn out.
Source
newspapers
3. November 23, 1877 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors and stockholders met and resolved to suspend operations and liquidate because continual withdrawal of deposits had reduced cash means; linked to local bank failures and also later revealed mismanagement/crookedness in the bank's affairs.
Newspaper Excerpt
The Central National Bank closed its doors this morning, and will go into liquidation.
Source
newspapers
4. November 27, 1877 Receivership
Newspaper Excerpt
Mr. A. H. Burley and the officers of the institution were busily engaged...examining the assets of the concern, and scheduling them for the use of the Receiver, when he shall take possession. ...Mr. Burley still has temporary control. Nothing has been done towards settling the question whether a Receiver shall be appointed to administer upon the assets, or whether the bank will be allowed to liquidate. (Nov 27 and subsequent reports indicate receivership control and later Receiver Glover.)
Source
newspapers
5. December 1, 1877 Receivership
Source
historical_nic
6. December 18, 1877 Other
Newspaper Excerpt
Receiver Glover reports that his investigations have disclosed considerable crookedness on the part of the management, and it is extremely doubtful if more than a comparatively small dividend will be declared. (Dec 18 reports on findings and president having left the city.)
Source
newspapers

Newspaper Articles (23)
1. November 23, 1877 Daily Press and Dakotaian Yankton, SD
Article from Daily Press and Dakotaian, November 23, 1877

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Repeal of a Portion of the Resumption Law by the house. The Senate Committee Report in Favor of Kellogg from Lousiana. List of the New French Cabinet. MISCELLANEOUS. A SPECK OF WAR. Clacionati, Nov. 23.-A San Antonio dispatch ways that Gen. Ord yesterday received an official copy of the order of President Diaz to Gen. Dalcon, commanding the Mex. ican forces on the border, to repel invasion by the United States troops by force, and and that Gen. Trevino had been ordered to the Rio Grande with 2,500 troops to carry out the order. Gen. Ord. has telegraphed to the President for another regiment of cavalry. GOING INTO LIQUIDATION. Chicago, Nov. 23.-The Central National Bank, 104 and 106 Washington street, closed its doors this morning and will go into liquidation. This action was conse quent upon the determination of the meeting of the directors and stockholders last evening. The institution did only a small commercial business and was backed by some of the substantial business men of this city, and will, its officers claim, pay dollar for dollar to depositors, and make a good showing towards paying the stockholders in full. Its liabilities to depositors are $260,000; assets $400,000 of bills receivabie, and $75,000 in cash resources. Its capital stock was $200,000. W. F. Eudicott is president and John Greenleaf cashier. It experienced a slight run yesterday, and since October 1st, although none of the depositors have closed their accounts, some $200,000 have been drawn out. THE KANSAS STATE UNIVERSITY. Lawrence, Nov. 22.-The dedication of the new building of the Kansas state university, took place here to-day. The attendance upon the exercises was large, wellknown citizens from all parts of the state being present. Gov. Anthony presided. Addresses were made by Chandler Marvin, State Superintendent Lemmon, Rev. T. Tindall, Gov. Anthony, and others. A banquet was given for the benefit of the society. Gov. Anthony was given a complimentary reception at the Ludington house, by the Young Men's social club, of Law. rence. A JURY WHICH DISAGREE. Chicago, Nov. 23.-The Jury in the condonation of whisky cases came in this morning, and reported a disagreement, nine having voted for a verdict in favor of the government, and three for the defendants. The question in dispute was whether the evidence showed that complete immunity had been promised. SHORT EXPLANATIONS. Providence, Nov. 23.-Capt. Carson. of the U. 8. cutter Samuel Dexter, lying in the Bristol harbor this morning. said he felt unauthorized to make any statements regarding his special orders and duties. He added: "There is a suspected craft, and 'her' a government steamer. Draw your

2. November 23, 1877 The Cincinnati Daily Star Cincinnati, OH
Article from The Cincinnati Daily Star, November 23, 1877

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Changed Hands. The Evening Mail was sold at Sheriff's sale yesterday morning, and was bought by Clark and Bell and Dr. William H. White for $8.710 The Mail will be coneucted under the same editorial management as heretofore. Vanderbilt's Will. It is reported that the contest of Mrs. Labau of Vanderbill's will has been discontinued. SHAKY CHICAGO. Another Bank Failure This Morning. National Associated Press to the Star. CHICAGO, Nov. 23 -The Central National Bank, of this city, closed its doors at 10:30 to-day. The suspension of the Central Nation. al Bank causes considerable excite. ment, as it is a disappointment to those who hoped that no further failures would follow that of the Third National on Wednesday. The two banks which have gone, and the one which still holds out, have been mentioned as snaky for a month past. When the first tailed, the knowing ones feared the other two would follow, but everything has been done to prevent a panicky feeling from aiding in causing this. It is probable that one more may fall, the one which has been mentioned in connection with these two as shaky, but all other banks are sound beyond question.

3. November 24, 1877 New-York Tribune New York, NY
Article from New-York Tribune, November 24, 1877

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ANOTHE R BANK CLOSED. THE CENTRAL NATIONAL BANK OF CHICAGO TO GO INTO LIQUIDATION-DEPOSITORS TO BE PAID IN FULL. CHICAGO, Nov. 23.-The Central National Bank closed its doors this morning, and will go into liquidation. This act was consequent upon a determination at a meeting of directors and stock-holders last evening. The institution did only a small commercial business. It is backed by some substantial business men of this city and will, its officers claim. pay dollar for dollar to depositors, and make a good stowing toward paying the stock-holders in full. W. F. Endicott is president and John Greenleaf cashier. The bank experienced a slight run yesterday, and since October 1, although none of the depositors have closed their accounts, some $200,000 have been drawn out. A statement of the condition of the bank has been made up and 18 as follows:

4. November 24, 1877 The Morning Herald Wilmington, DE
Article from The Morning Herald, November 24, 1877

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DOMESTIC. A NEGRO MURDERER SENTENCED. NEW YORK, Nov. 23.-Nelson Arden, a negro, alias William Moore, was convicted Wednesday, in the County Court of Bertie, N. C, for the murder of John Webb, storekeeper, and was sentenced to be hung in December. Seven negroes and five whites composed the jury. AN INSURANCE OFFICER BEHINDHAND. A Cincinnati despatch says J. L. Colling, Secretary of the Western Insurance Company, is behind $14,000 in his accounts The company was made secure by mort. gages on his property, and removed him. ANOTHER CHICAGO BANK CLOSED. CHICAGO, Nov. 23.-The Central National Bank of Chicagoclosed its doors this morning. MAKING A MATCH ON MR. LORILLARD'S OFFER. NEW YORK, Nov. 23.-Information reach ed this city yesterday that $10,000 had already been raised in Kentucky towards the $20,000 to make the match offered by Mr. Pierre Lorillard, to run his horse Parole against Ten Broeck next summer, two miles and S half, over the Saratoga course or at Jerome Park, for that sum. MURDERED ITALIAN. It seems the Italian murdered in Baxter street last night was named Michael Cattacbe or Cattacci. His body was horribly cut.

5. November 24, 1877 The New York Herald New York, NY
Article from The New York Herald, November 24, 1877

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A CHICAGO BANK FAILURE. THE CENTRAL NATIONAL BANK RETIRES- ITS FINANCIAL CONDITION-NEW YORK'S INTEREST SECURED. CHICAGO, Nov. 23, 1877. The Central National Bank closed its doors this morning, and will go into liquidation. This action was consequent upon a determination at a meeting of the directors and stockholders last evening. The institution did only a small commercial business. It is backed by somo substantial business men of this city. W. F. Endicott is president, and John Greenleaf cashier. The bank experienced a slight run yesterday, and since October 1, although none of the depositors have closed their accounts, some $200,000 have been drawn out. A statement of the condition of the bank has been made up, and is as follows:ASSETS.

6. November 24, 1877 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, November 24, 1877

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The Central National Closed Its Doors Yesterday. It Owes Depositors $280,000, and Expects to Pay Them in Full. 1 Constant Withdrawal of Deposits the Cause of the Bank's Difficulties. No Receiver Has Yet Been Appointed for the Third National. THE CENTRAL NATIONAL. A SMALL BANK GONE. The commercial community was not Inconsiderably startied yesterday morning by the announcegent that the Central National Bank had closed ILA doors. This institution had the office In the Washington street side of the Methodist Church Block. At 10 n. m. the following notice was con. epicionaly posted over the Teller's window: This bank will not open for business to-day. having reted to go Into liquidation. Its liabilities will all be paid. A few minutes afterward President Endicott stepped ACTORA the street and made arrangements with the Northwestern National to look after the remittance received In the morning mail. and attend to their passage through the Clearing-House. Having completed this tank. Mr. Endicott returned to bis bank. and the door was promptly closed. The news was quickly circulated. and In a few minutes quite a large crowd assembled on the curpotone in front of the institution. The croskerswere out in full force. and the man who knew Itall moon found an attentive audience. During the forenoon n TRIBUNE reporter anc. ceeded in evading the but policeman who *tood on guard. and after a few minnents' waiting was ush. ered into the private office of PRESIDENT BNDICOTT. when the following Interview took place: "When did you decide to close the doors?" asked the reporter. Thursday night,' was the reply. 'Were the stockholders called together!" 'There was a meeting of the Directors, and they represented enough stock to put the bank into liquidation." What was the cause of this action?" "The gradual shrinkage of deposits." When did the outflow commence?" "Really. about a month or six weeks ago the shrinkage because permanent. The money went out and didn't como back. and there seemed to be no way of making up the shrinkage. And the fail. ure of the Third National and the rumors about many of the banks had their effect. Our carb means were being gradually and constantly reduced." How much were your deposits n month ago?" Over $400,000, and they have shrunk to $280,000." How are your assets?" We have sufficient to pay all depositors." What about the stockholders?" They. may lose something, but not very much." Will you liquidate yourselves!" "I don't know about that we are liquidating ourselves now to a certain extent, but the bank will go into the hands of the Comptroller of the Currency. In order to pay our depositors we have to realize DD our bills, and we suspended business to do so. Have youany real estate!" No." Any of Sam Walker's paper!" No. not n dollar. What is the character of the paper you own!" is of a general commercial nature. Some of 11. pretty slow, no doubt. **It IN Impossible to conduct 0 discount business without criting some slow paper. Mr. Endicott furnished the reporter with the following statement. which shows the CONDITION OF THE INSTITUTION at the close of business Thursday alternoon: RESOURCES. Notes and MILA discounted $410,101 United states bonds and premiums de$59,563 postedior circulation Other bonns 1.000-50,563 5.193 Furulture 23.734 Inc from banks and bankers United Minter reasury. Washington 2,000 Teller's cash and stateme 31,630 Total $541,859 LIABILITIES. L'ipital $200,000 Circulation 40,000 Surplus 16,152 Due banksand bankers 133.713 140,000 Due de positors To:sl $311.558 To reince this balance-sheet to A more Intelligible form, let It read: Due depo-itors $283,075 Cab means 58,418 B the d scounted 410.101 Bond surplus, 10,812 Viher builds 1.000-103.302 Ostra-tble surplus $211,010 THE STOCKHOLDERS OF THE BANK were as follows May 1. The shares are of the par value of $100: Shares. W & Exclisett

7. November 24, 1877 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, November 24, 1877

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2,000 The Directory is as follows: W. F. Endicott, J. McKindley, II. W. Illnsdate, E. M. Endicott, F. H. Baker, Francis Morgan, W. 11. Arnold, S. A. Downer, and 1. N. Ash. THE BANK WAS ORGANIZED October, 1872, wite A capital of $200,000, by Mr. Endicott, who la largely interested in the wholesale grocery trade, and through his efforts several of his fellow traders were induced to take stock. In December of the same your the bank was tocited in the Methodist Church Block. and opened for the patronage of the public. Fourteen or fifteen years ago Mr. Endicott was enguged in the private banking business as a member of the firm of Butter, Endicott & Whitehouse, and it was in view of the experience there gained that he was Induced to accept the Presidency. Nothing of interest occurred to disturb the monotony of Its career until the panic of September. 1673, through which it passed unscathed. Its liabilities at that time. ware small, and its means Were su well kept in hand that 11 paid currency over the counter on every demand. The hard times subjequent to the panic provented the bank from enlarging its business to any extent. It was in no position to make any large advances, and, as the natural sequence, received few large deposits. It struggled along until about a year ago vainly en. deavoring to build itself upon its own merits. and at the same time rusting out through Injudicious investments in second and third rate paper. The failure of the Commercial Loan & Trust Company. which occurred nearly two years ago, entalled a considerable loss, as some $30,000 of its stock was placed with the Central as a collateral for & large loan. In December, 1876. the National Bank of Commerce. finding. that its expenses were more than eating up its prodits, determined to retire from business. It bad a de. Dont account of some $300,000, which it turned over to the Central. at the same time placine behind It sufficient cash and acceptable paper to Injuid ate when called upon. In this way the Central secured $ deposit account of about $570,000. It was only of short duration. The great bulk of the customers of the Bank of Commerce drew their balances from the Central and transferred their accounts to other bunks. A few country banks remained, and to lbeir #ystematic system of checking IF ID a great measure due the suspension of the institution. Some time ago the Central BORROWED ON CALL PROM THE THIRD NATIONAL some $35,000 to enable 11 to tide over & difficulty. The understanding was. at the time the loan was orade. that the Third should carry the loan until the Central bad sufficiently recuperated to make " good. W ben the Third got into its OWD difficulties It was everybody for himself. and the loan was MC. cordingly called in. Tuesday It was paid. Thurs. day tue country banks checked with considerable vigor. and the result was that the Central was a deotor to the Clearing-House for some $20,000. This was the last straw. One more similar day would have about drained It of its last dollar. Mr. Endicott did not think it wise to bazard the experiment. So be called his principal stockholdere together. as has been detailed, and they rusolved the bank should be placed in liquidation. NEW YORK CITY. Special Distatch to The Chicago Tribune. NEW YORK, Nov. 23. The failure of the Central National Bank, of Chicago, had no effect to this city. The bank owes about $140,000 here, all se. cured by good commercial baper. Two weeks ago one of its officials Came bero and borrowed $25,000 from the Mechanics' National Bank and $20,000 from the Merchants' National Bank. but the officers of both these banks say they hold collateral which

8. November 27, 1877 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, November 27, 1877

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THE BANKS. THIRD AND CENTRAL. The tone of the money market showed a deelded Improvement yesterday. The nervousness and anxiety which has provailed in financial circles during the closing days of last week were replaced by a strong, healthy feeling. Bankers and borrowers both felt relieved on the breaking of the "packbone of the rebellion," as the raid on two of the National Banks was facetiously called. Another indication of a restored confldence was the improvement In the exchange market, which closed with no sellers below par. Private dispatches from Washington indicate that Comptroller Knox has selected Mr. Huntingdon W. Jackson as Receiver for the Third National. This la understood to be done at the request of some of the Directors;of the Institution. who are very largely interested in its stock. Mr. Jackson has not yet received official notice of his appointment. Concerning the ullairs of the Central National there is nothing new. Mr. A. H. Burley and the officers of the institution were busily engaged yesterday in examining the assets of the concero, and scheduling them for the use of the Receiver, when be shall take possession. SAVINGS RANKS. The Receivers of the broken savings banks are all busy, but their work doesn't yleid much information for the depositors or the public. Judge Othe, of the State, said he was still attending to details. Dr. Turpin, who is still paytug out 10 per cent to the creditors of the FIdelity, didn't know of anything worth mentioning. However. no said that 2,200 depositors had been paid up to Saturday night. They took $67,000 of the $132,000. There were very few callers yesterday, the rain probably keeping them home. One of the clerks gave a botter reason than that: It is wash-day, and the girls are busy." A few collections are being made, but real estate cannot be worked off very well in the winter, and a second dividend will not be made before spring. Receiver Ward. of the Bechive, was unable to contribute an Item. One of the Committee of depositors had been In, and tried to excuse himself for the publication of debtors' names, claiming that the reporter who accompanied the Committee Frlday had not kept inith with them. They had taken him along to write out their report for them, and he had written up his notes for his paper without their sanction or knowledge. This is not credited. The Committee doubtless fear A hauling-over by the depositors when they make their report. It is not definitely sottled when they will have another conference with Mr. Ward. The Receiver of the Fidelity is about to file A bill against the Receiver of the Chicago Savings Company for the purpose of ejecting the Intter from the Savings Company's building, which was mortgaged to the Fidelity for $15,000, and the rents or profits of which, It is claimed, belong to the latter. THE STATE SAVINGS. Judge Otis # few days ago stumbled on two acts of chinaware and some oil paintings among the assets of the State Savings Institution, and the cockles of his heart grew warm at the opportunity thus offered of making another petition to the Court. Saturday was devoted to the momentous business, and yesterday It was filed. The Judge is not & professional in the way of crockery, but as for as his experience goes this china is not worth over $250. It was taken with the paintings In payment of a debt to the bank, and Mr. C. D. Grannis has offered him the above amount for it. As to the oil paintings the Judge distrusts his knowledge of flue art even more than his acquaintance with chinaware, for he has occasion to criticlse samples of the latter regularly three times a day. Bo he ventures the advice that the pictures can better be disposed of through a dealer in such stuff. Judge Williams took the same view of the matter, and Mr. Grannis will get the china and some picture-dealer be intrusted with the paintings to sell them on behalf of the bank.

9. November 28, 1877 Ottumwa Weekly Courier Ottumwa, IA
Article from Ottumwa Weekly Courier, November 28, 1877

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Another One Gone. CHICAGO, Nov. 23.-The Central National Bank, No. 104 and 106, Washington street, closed its doors, this morning,and will gointo liquidation. This action was consequent upon the determination of a meeting of directors and stockholders, last evening. The institution did only a small commercial business, is backed by some substantial business men of this city and will, its officers claim, pay dollar for dollar to depositors and make a good showing towards paying the stockholders in full. Its liabilities to depositors are $260,000, assets $400,000 of bills receivable and $75,000 cash resources. Its capital stock was $200,000. W. F. Endicott, is President and John Greenleaf, cashier. It experienced a slight run yesterday, and since October 1st, and although none of the depositors have closed their accounts some $200,000 have been drawn out.

10. November 29, 1877 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, November 29, 1877

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THE BANKS. MIL II. W. JACKSON, upon whose shoulders it has been pretty generally supposed the mantic of the Receivership of the Third National would fall, received oillcial notification of lits appointment yesterday from the Comptroller of the Currency, and Inmediately set about the comparatively easy task of securing signatures to lile $50,000 bond. 'Γo many people the amount of the bond might seem ridiculously small, but the fact that the Receiver is obliged to turn over moneys as fast us ne collects them, to the Comptroller of the Currency, will explain why the bond is comparatively in 60 small an amount. At the Central National Mr. Burley still has temporary control. Nothing has been done towards acttling the question whether a Receiver shall be appointed to administer upon the nssets, or whether the bank will be allowed to liquidate. With the appointment of a Receiver for the Third National, Mr. Bank-Examiner Watson's duties at that institution will be measureably lessened, and the Central will probably receive more of his attention. THE RECEIVERS OF THE VARRIOUS SAVINGS BANKS did pretty much as usual yesterday, the only thing to relieve the monotony being the prep. arations for Thanksgiving. All the banks will be closed to-day, and the wearled Receivers and their more wearled assistants will be found at their homes, or at the houses of their next best friends, receiving other good things than money from debtors, which can be gotten, If at all,' on common days. Judge Otis was out when the reporter called at the State Savings,-probably on au expedition to the game dealers on South Water street,-but one of has assistants touchlogly remarked that to-day would be turkeyday, and added, as a sort of secondary consideration, that there were some hopes of a dividend of 10 per cent in January. At the Little Beenive, Receiver Ward, Mr. Horton, two of the Depositors' Combittee, and the clerks fully corroborated the truth of the rumor that turkeys would in all probability be laid on the altur to-day, and added that there was no ucws. Nor was there any. The two depositors aforesaid were apparently at a 1088 to know just what they wanted to know, and frankly admitted that they had not found anybody who could tell them. A short time wasspent in looking over books and papers, but visions of to-day were too much for them, and, in the language of the local chronicler, " the meeting then adjourned." At the Fidelity there Was lyde of . crowd than usual, but those

11. December 1, 1877 American Citizen Canton, MS
Article from American Citizen, December 1, 1877

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THE Central National Bank of Chicago closed its doors on the 23d, after a slight run. Its deposits amount to $260,000, and it is asserted that its assets are amply sufficient to pay all demands in full.

12. December 1, 1877 The Donaldsonville Chief Donaldsonville, Gonzales, LA
Article from The Donaldsonville Chief, December 1, 1877

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Domestic. Deaths in New Orleans last week, 113. Sontag & Co., Chieago importers. failed. South Carolina Legislature met on Tuesday. The eigar makers at Springfield. Mass., have struck. The National Grange met at Ciucinuati last week. Bishop Marvin of Episcopal Church South died at St. Lonis. Four striking rioters have been convicted at Sumbury, Pa At Hammond, Miss., Geo. Carroll, colored, strangled his wife. Michael Tarbine killed John Riggle in a New York beer saloon. Speer's cotton gin, with 50 bales of cotton, burned at Memphis. Mr. Andrew Schmidt of New Orleans died from apoplexy while out hunting. Two colored men will be hanged at Wilmington, Del., for outraging Mrs, Totramp. A colored youth was hanged at Townsonton, Md., for outraging it white girl. George Dell, aged 17, murdered Jacob Massorth, aged 65, with a razor, at New York. Two notorious stage robbers who recently escaped were recaptured near Cheyenne. Golley Bond, who murdered L. S. Hill near Memphis, was ;captured in DeSoto parish, La. The city treasurer of Covington, Ky., Wm. Stone. is reported a defaulter for $10,000. =The schooner Clements wrecked off Horn island The crew reached land after much suffering. The jury in the Bob Drury murder case, at Memphis, were discharged, being unable to agree. Central and Third National Banks of Chicago and Tenth National Bank of New York have suspended. Frank Berlin, a Memphis butcher, was dangerously wounded by letting t his pistol fall from his pocket. Mrs. George H.Thompson, sister of 9 I Senator Sargent of California, committed suicide at Lowell, Mass. t e Martin McDervitt, a steamboatI man, fell overboard from the Bastrop, e near Bayou Sara, and drowned. t Charles Dommett, deputy auditor at Batavia, O., is under arrest for embezzling $24,000 of county funds. 0 Nelson Arden, colored, convicted of the murder of a storekeeper in Bertie county, N. B., was sentenced to haug. 8 The Attorney General refuses to e recommend the pardon of Eph Hall, convicted of election frauds in Cincinuati. Orlando Abbott and his wife were e killed at South Andover, Mass., while t crossing a railroad track in front of n locomotive. t A construction train was thrown d from the Long Branch railroad near South Amboy, N.J., killing three men and injuring four others.

13. December 2, 1877 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, December 2, 1877

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THE BANKS. VERY DULL. A visit to the suspended National Banks yesterday failed to elicit anything beyond the fact that the Receivers were "busy." Both Mr. Jackson. of the Third, and Mr. Burley, of the Central, said there was "nothing new." The former has made a few collections, and is still figuring to get some one to take the bank building, in order that he may move into less expensive Quarters. Mr. Burley had heard

14. December 7, 1877 The Jasper Weekly Courier Jasper, IN
Article from The Jasper Weekly Courier, December 7, 1877

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WEST-AND SOUTHWEST. At Warsaw, Ind., on the evening of the 21st, Libbie Jacques, aged 19, was terribly and fatally burned about the face and breast, by letting fall a lamp filled with oil, which she was lifting from a chandelier. Whilerendeavoring to putions the flameson her clothing, O. P.sJacques, her father, burned both hands so severely that it wasthought amputation would be necessary. AtTerre Haute, on the evening previous, Mary Tarelby, a servant-girl in the employ of Hon. Bayless H. Hanna, wasso badly burned by a lamp explosion that she was expected to die. Nicholas Plumling has been arrested at Wilton, Wis., charged with the murder of Mrs. Van Voorhees and her three children, whose dead bodies were found in their burning cottage about the first of Noveniber. It was supposed at the time that Mrs. Van Voorhees killed her children and then took heflown life, but later dévelopménts(strongly implicate Plumling as being the author of the horrible crime. 2797A The National Grange Patrons of Husbandry met at Cincinnati on the 21st, delegates from all the States being present. A San Antonio dispatch of the 23d says that Gen. Ord has received an official copy of the order of President Diaz to Gen. Dallin, commanding the Mexican forces on the border, to repel invasion by United States troops by force, and it is further'stated that Gen. Trevino has been ordered to the Rio Grande with 2,500 troops to carry out the order. Gen. Ord has telegraphed to the President for another regiment of eavalry. The Central National Bank of Chicago closed its doors on the 23d, after a slight run. Its deposits amount to $260,000, and it is asserted that its assets are amply sufficient to pay all demands in full. At Benton Ridge, Hancock County, O., on the 22d, Dr. Frank H. Knapp shot and killed Dr. H. K. Nott with a shot-gun. Both were practicing physicians. Dr.Keappsays, as a defense of his crime, that Dr. Nott had several times tired at bim with a revolver, and did so on the day of the shooting, and that he fired the fatal shot while under the conviction that his life was in imminent peril. Charles Jones, a half-breed desperado, who attempted to kill his wife and child at McAllister Station, Indian Nation, was arrested and subsequently shot and killed while attempting to escape from eustody. Two men named Shepard Clark and Israel Doty were recently killed in Don Juan County, Cal., about 10 miles from Pagosa Springs, it is supposed by a Mexican and a Navajo Indian. The discovery of their dead bodies was the first known of their murder. The Bismarek coach was attacked and captured by Indians, on the 22d, near Sulphur Springs Station, about 50 miles from Deadwood. The passengers saved their scalps by taking to the blutfs. After ransacking the mail-bags, the Indians killed two of the horses and decamped with the other two. Bishop Enoch M. Marvin, of the Methodist Episcopal Church, died at his residence in St. Louis on the 26th. He was born in Warren County, Me., June 12, 1823, and entered the ministry when only 18 years of age. The disease from which he died was pleuro-pneumonia. The murderer Band was removed from St. Louis to Galesburg, Knox County, III., on the 27th, where he will be tried for murder.

15. December 8, 1877 The Carbon Advocate Lehighton, PA
Article from The Carbon Advocate, December 8, 1877

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underhis wife applying for a divorce- and a pistol. to separate soul and body,with sadly took he could not have been so very to his But earnest because he gave fair notice the matin and they, after thinking took his ter neighbors, over, decided to interfere, and away. weapon the most serious result of Coolbaugh's National But was the failure of the Third once death old institution which was the Bank, prosperous, an but was badly hit decided by very and the panic. Its directors fire weeks ago to settle up affairs, trusting their some that time that they would get back Mr. at capital and lose only the surplus. to take Coolbaugh had made arrangements but his of the bank and liquidate it, and sudden charge death put an end to that scheme banks found impossibte to get other $1, it was give any help. So it shut up, owing worth 000,000 to and with assets nominally two$1,800,000 but really worth only about is the thirds of that. But back of all this personal responsibility of the stockholders but one of whom are good,amounting the million all and a half. It is possible that better bank might have lived if it had had unmanagement, but the President had an estate happy mania for dabbling in real speculations, and by persisting in holding to dirt which had ceased to have any the on brought himself and the bank to stuff value, ground. He has turned over a lot of kind secure his indebtedness, but it is that of of to property which may not be disposed difor Among the stockholders and the rectors years. are Mr. George M. Pullman of Sleeping Car Company, and Mr. Tribune. Joseph Medill editor and proprietor of the It had been SO long expected that this the bank would go up that there was not failure consternation which an unexpected would have had, but nevertheless the smash had its results. The Central National Bank, comparatively small concern with a capital a of $200,000 gave up the ghost Friday morning. It had been carried by the Third months and fell when the support its It will doubtless pay was for some removed. that all it depositors, the chief trouble being did not do enough business to make it profitable to keep the institution alive. One or two is other National Banks are shaky but it hoped that they will manage to pull through. A suit on a life-insurance policy, ,in volving some interesting points, has just been begun Milagainst the Northwestern Montreal, of waukee. A year and a half ago a wealthy resident of this city took out a policy for $15,000 in the Company, paying the first At the end of he was called on and year's months, premium. asked the twelve for failed the premium for the next year. This he he to pay. Nearly two months elapsed and be= was taken very ill. About half an hour his clerk called office, and tendered premCompany's fore he died around the at The the ium. The agent declined to accept it. weeping heirs and wife, though feeling intensely over the death of their beloved father and husband, yet did not feel inclined to lose $15,000 and checked their lamentations long enough to send the book-keeper of the deceased-he had been dead half hour then-on another trip to the officers of the Company, to again offer the premium, again make an effort to revive that lapsed policy. But the agent knew something concerning Mr. Store's condition and peremptorily refused to take the money and hence the suit. The deceased was a sharp business man, and it is possible that he would have so with the business-like conof his children as to duct been pleased have pardoned them for their apparent absence of all-abover his loss. sorbing grief Possibly the Company will presently propose to compromise for a few thousands, and that will be the end of the suit. A marriage of rather a romantic nature took place here a couple of weeks ago. western man was in town for the purpose disposing of a lot of mining property which he owns in the Black Hills. While here he into his head to get a wife. He had once before, in took been it married Denver. He had seen a pretty girl running a sewing in a shop, had and machine marched She in asked her if she would have him. consented they were wedded, and in six months she got a Utah divorce. But he was not discouraged by this, and went to a clairvoyant, and asked her to tell him where to find the woman whom Providence had selected as his wife. If she put him on the right track, he would give her $10,000. So she advised him to go to: certain large shirt and among the manufactory, girls He employed t there, there he would find his fate. and asked the proprietors, to let him look through their establishment. They consented, and he went into the sewing room,where a dozen or more girls were employed. he Presently one of them struck his eye went up to her and said, "I did not come here to look at the place, I came to find you. I want to be my wife. I can give you I have been once, good references. you married but have been divorced, and have a copy of the decree, so that is all right." She looked ( at him, saw that he was not badly dressed, and was reasonably good-looking, and said, "Yes, will marry you." They were wed-

16. December 8, 1877 San Marcos Free Press San Marcos, TX
Article from San Marcos Free Press, December 8, 1877

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Grande was insullicient to afford prope protection to the citizens there, an deemed it necessary that the regiment now stationed in Texas should be in creased to their full strength, and tha an additional regiment of infantry an of cavalry be sent there A SAN ANTONIO dispatch of the 23 says that Gen. Ord has received an off cial copy of the order of President Dia to Gen. Dallin, commanding the Mex can forces on the border, to repel inva sion by United States troops by force and it is further stated that Gen. Tre vino has been ordered to the Rio Grand with 2,500 troops to carry out the order Gen. Ord has telegraphed to the Presi dent for another regiment of cavalry. THE Central National Bank of Chi cago closed its doors on the 23d, after slight run. Its deposits amount t $260,000, and it is asserted that its as sets are amply sufficient to pay all de mands in full. THE new French Ministry was an nounced on the 23d, as follows: Presi dent of the Council and Minister o War, Gen. Grimaudet de Rochebouet Minister of Foreign Affairs, Mar quis de Bonneville; Minister of th Interior, De Welchi; Minister of Jus tice, Le Pelletier Minister of Finance D'Utilleul Minister of Commerce Ozenne; Minister of Public Works Graeff; Minister of Public Instruction Faye; Minister of Marine, Admira Rousin. The Republican papers cen sure the composition of the new Ministr in contemptuous terms. -The new French Ministry has beer repudiated by the Chamber of Depu ties. Jules Ferry, on behalf of the Left moved a resolution expressing want o confidence, which was adopted by vote of 323 against 208. THE United States man-of-war steam Huron, Commander G. P. Ryan which sailed from Fortress Monroe fo Havana on the 23d, was wrecked on th North Carolina coast, near Kitty Hawl signal-station, at an early hour on th following morning. Soon after striking the shoals the vessel went to pieces and of the 135 person board only 34 succeeded in reaching the shore alive. There was no assist ince rendered from the shore, for wan life-saving apparatus. A severe gal prevailed along the coast on the nigh of the disaster, and it is supposed tha he vessel became unmanageabl hrough the breaking down of her en gines and drifted helplessly upon th breakers. -The following are the names of th officers lost on the Huron: Command G. P. Ryan, Lieuts. S.A. Simons and G. Palmer, Masters J. M. Wright and W. S. French, Ensign Danner, Paymas Carey N. Sanders and Cadet Enginee E. A. Loomis. The Huron was a ron screw-propeller of 1,45 ons, carrying six guns. Sh was just out of the dock at New York, where she had been entirely over hauled. She was manned by a crew o 104 men, besides 15 marines, and he officers numbered 15, only eight o

17. December 19, 1877 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, December 19, 1877

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I More Crookedness in Chicago Banks. CHICAGO, December 18.-It is now about certain that W. F. Eadicott, President of the defunct Central National Bank, has left the city for good, having transferred to the bank his shares of stock and taken cash instead. Receiver Glover reports that his investigations have disclosed considerable crookedness on the part of the management, and it is extremely doubtful if more than a comparatively email dividend will be declared. The assets are about $433,000, of which $90,000 are worth par, $150,000 doubtful, $47,000 is in cash and the rest is doubtful. Some of the stockholders are responsible men, but the standing of a large number of them is unknown, as they live in the east.

18. December 19, 1877 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, December 19, 1877

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Chicago Bank President Missing. CHICAGO, December 18.-It is now about certain that W. T. Eudicott, President of the defunct Central National bank has left the city for good, having transferred to the bank his shares ot stock and taken cash instead. Receiver Glover reports that his investigations have disclosed considerable crookedness on the part of the management, and it is extremely doubtful it more than a comparatively small dividend will be declared. The assets are about $433,000, of which $90,000 are worth par; $150,000 doubtful; $47,000 is in cash and the rest is doubtful. Some of the stockholders are responsible meo, but the standing of 8 large number of them 18 unknown, 88 they live in the East.

19. December 19, 1877 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, December 19, 1877

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ILLINOIS. Bank Matters. CHICAGO, December 18. It is now about certain that W. F. Endicott, President of the defunct Central National Bank. has left the city for good, having transferred to the bank his shares of stock and taken ful ds instead. Receiver Glover reports that his investigations have disclosed considerable crookedness on the part of the management. It is extremely doubtful if more than a comparatively small dividend will be declared. The assets are about $433,000, of which $90,000 are worth par, $150,000 are doubtful, $47,000 is in cash. and the rest are doubtful Some of the stockholders are responsible men, but the standing of a large number of them is unknown, as they live in Eastern cities. BOSTON, December 18. The Springfield, III., Savings Bank closed this morning. The liabilities are $162,000. chiefly to small depositors. Most of the directors are wealthy, and it is stated that every liability will be paid in full.

20. December 19, 1877 The New York Herald New York, NY
Article from The New York Herald, December 19, 1877

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THE CHICAGO CENTRAL BANK. CHICAGO, Dec. 18, 1877. It is now about certain that W. F. Endicott, President of the defunct Central National Bank, has left the oity for good, having transferred to the bank his shares of stock and taken cash instead. Receiver Glover reports that his investigations have disclosed considerable questionable action on the part of the management, and it is probable that not more than a comparalively small dividend will be declared. The assets are about $433,000, of which $90,000 are of face value, $150,000 worthless, $47,000 in cash and the rest doubtful. Some of the stockholders are responsible men, but the standing of a large number is unknown, as they live in Eastern cities.

21. December 20, 1877 New-York Tribune New York, NY
Article from New-York Tribune, December 20, 1877

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CHICAGO'S MISSING BANK president. W. F. Endicott, the president of the suspended Central National Bank of Chicago, who, it is 10ported, has been found to be a defanlter, 18 said to be a grand-son of ex-Governor Endicott of Massachusetts, and a brother of the Endicotts residing at Salem, Mass. He is spoken of as a clear-headed. judicious man, conservative in his views, retired in his manner, and a plausible talker. Benjamin B. Sherman, president of the Mechanies' Bank, holds twenty shares in the suspended bank, which he was induced to subscribe for by Mr. Endicott. Mr. Sherman states that Endicott began bis Western career at the close of the war, when be started the oanking firm of Endicott & Rutt r, It was afterward changed to Sibley, Hinsdale & Endicott. When the Central Bank failed, Mr. Endicott sold out his Interest in the banking house, and wrote to Mr. Sherman in a trembling hand, that the failure came upon him like a thunderbolt, and was caused by the suspension of the Third National Bank," of which D. D. Spencer, who has fled, was president. A brother of Mr. Endicott is said to be a heavy loser by Mr. Endicott's mismanagement, as are numerous personal ir ends in Boston. It is believed that the missing president, who has been indieted. has gone to Europe, travelling, like his friend Spencer, under an assumed name. He was prominently identified with church charities, and took an active part in the Moody and Sankey meetings last year in Chicago.

22. December 20, 1877 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, December 20, 1877

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THE BANKS. DULLNESS REIGNED supreme at the broken banks yesterday. As re. gard the Central National, #Ome important informalion was furnished by a gentleman who made a personal inspection of the bank in August last. At that time the actual cash on hand WAR $163,000, and the cash means, Including balances with agents. etc., was 70 per cent of the deposits. The bills recelvable were $314.00) of good average paper. and there were only $12,000 of past-due paper in the possession of the bank. The deposits were then $155,000. This was the bank's condition about the end of August. These facts. which are stated on Indisputable authority. show that three months before It. (ailure the bank WAS one of the strongest in the city, and give certainty to the suspicions that it Was broken down by tout play. Bank-Examiner Watson was at the Institution and diled the place of Receiver (llover, who was reported to be on the sick-liet. Mr. Watson had very little toway regarding his connection with the Allen-Brown Insneuvres in Cook County National stock, not forth In a dispatch in yesterday's paper from Des Moines, except last be was not the only broker who negotisted stock at the time. and that he attested the signature of Brown by Allen on the latter's representation that he had power of at: torney from Brown. Mr. Watson further stated that an affidavit of his. sworn to about two years ago, and probably published about that time. contained & full statement of life connection with the matter-so full, in fact, that be had nothing to add to it. Henry Greenebaum was not stound yesterday. and the reporter was Informed that he was still at his home. getting rested and endesvoring to recover from the physical and mental strulu to which be has of late been subjected. As will be seen in another place, David S, Greenebium formally expressed bis desire to como in under the bankruptcy proceedings. Mr. Kilian, onee President. and now Receiver. of the German American Savings Bank. has been engaged for the past two days in the capacity of defendant in & whisky suit in the United States Court, and has accordingly been unable to look after the interests of his depositors. Some of the latter may wish they had thought twice before recommending bim for the Receivership, provided be does not come off with a clean bill. IN COURT. In the German Savings Bank case, the Receiver alea & report assing If Le should pay Woodbridge, Blanks & Woodbridge $308 for their services in putting the bank into the bands of a Receiver and in getting on injunction against George Denetling. No one appeared to contest, and, as Mr. llorton thought the claim a reasonable one, it was al. lowed by Judge Moure. In the bankruptcy case of lienry Greenebaum & Co., a petition was filed yesterday by Heary Grocnebaum setting out the fillug of his petition $ for days for the aujudication of the firms

23. January 3, 1878 The Redwood Gazette Redwood Falls, MN
Article from The Redwood Gazette, January 3, 1878

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EPITOME OF THE WEEK. Condensed Telegraphic News. CURRENT paragraphs. Henry M. Stanley, the African explorer, reached Aden, Arabia, on the 23d. The Springfield (III.) Savings Bank has suspended. Liabilities to depositorsabout $175,000. The United States Supreme Court adjourned, on the 21st, to meet again, on the 7th of January. The Woman's National Suffrage Association will meet in Washington, D. c., on the 7th of January. The calling together of the British Parliament is considered in St. Petersburg as tantamount to a declaration of war. Flora Temple, the famous trotting mare. died recently, on a farm near Philadelphia, in the thirty-third year of her age. A call has been issued for a Democratic State Convention, to meet at Indianapolis, Ind., on the 20th of February next. John Van Hoesen, the reputed ringleader of the Albany (N. Y.) railroad rioters in July last, has been found guilty, and sentenced to seven years' imprisonment. Rev. G. F. Seymour was, on the 19th, elected Bishop of the Episcopal Diocese of Springfield, III. Bishop Seymour is a brother of Horatio Seymour, of New York. John A. Joyce, convicted at St. Louis of conspiring to defraud the Government of taxes on distilled spirits, has been fully and unconditionally pardoned by the President. T. S. Lambert, President of the American Popular Life Insurance Company, of New York. has been found guilty of swearing to false statements in regard to the condition of the company. Two hundred delegates to the National Reform Convention, to secure the ex press acknowledgment of God in the Constitution of the United States, assembled at Rochester. N. Y., on the 18th. The Legislature of South Carolina has ratified. by over a two-thirds vote, the amendment to the State Constitution levying an annual tax of two mills upon all the taxable property in the State, for the support of free schools. The United States Treasury held, on the 22d, $346,277,550 to secure the National Bank circulation. and $13,988,000 to secure the public deposits. National Bank circulation outstanding: Currency notes, $320,253,763; gold notes, $1,432,120. A few nights since the children of Mrs. Catherine Ryan, of Randolph, Mass., were suffocated by coal gas, and also Mary E. Burry, who was spending the night with them. Mrs. Syan herself was alive when discovered, but was not expected to recover. Thomas Rooney's house at West Point. N. Y., was burtied, a few days ago, and two children. aged;three and five years. perished in the flames. They were locked in the house during the absence of their parents, and were found, lifeless and charred, clasped in each other's arms. W. F. Endicott, President of the late . Central National Bank of Chicago, is found to be a defaulter and has left that city for parts unknown. It seems that, like Spencer, he unloaded by selling to the bank his capital stock for cash, leaving behind worthless notes. It was thought. on the 18th, that stockholders would realize nothing and depositors in the suspended concern little. A boy named Willie Hopkins, ten years old. was recently abducted from his home at Braddock's Fields, near Pittsburgh, Pa., by a man supposed to be a tramp. He is said to be a pretty boy, with full face, light complexion and hair, and rather stoutly built. The abductor is a tall man, with face pitted with small-pox. The parents of the boy are in great distress over his disappearance, the mother being almost insane from grief. The troubles in El Paso County, Tex., are said to have grown out of a dispute as to the ownership of extensive salt mines in that section, at which the people of the surrounding country have obtained salt from time