First National Bank (Quincy, IL)

Episode Information

Episode Type
Suspension โ†’ Reopening
Start Date
August 19, 1878
Location
Quincy, Illinois (39.936, -91.410)
Bank Type
national
Charter Number
424

Metadata

Notes

Articles mention a prior $100,000 burglary and attribute suspension to insolvency of Harris, Beebe & Co.

Events (4)

1. May 16, 1864 Chartered
Source
historical_nic
2. August 19, 1878 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Insolvency of the large tobacco firm Harris, Beebe & Co. caused the bank to suspend.
Newspaper Excerpt
The First National, which is the only national bank in the city, has suspended.
Source
newspapers
3. September 19, 1878 Reopening
Newspaper Excerpt
The First National Bank, which recently suspended, re-opened this morning, with money on hand to pay all demands. The deposits to-day exceeded the withdrawals.
Source
newspapers
4. January 16, 1899 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (12)

Article from The Rock Island Argus, August 19, 1878

Click image to open full size in new tab

Article Text

Failure of the National Bank at Quincy, Ills. QUINCY. Ills.. August 19.- - The first national bank, which is the only national bank in the city, has suspended. It is understood the large tobacco firm of Harris, Resbe & Co., were unable to meet their papers due to the bank, and made it necessary to take this step, Some years ago burglars stole $100,000 from this bank. No statement of the bank's affairs is given except that of the directors and officers that all the liabilities will be met.


Article from The New Orleans Daily Democrat, August 20, 1878

Click image to open full size in new tab

Article Text

Bank Failures

QUINCY, Ill., Aug. 19.-Considerable excitement was created here to-day by the announcement of the suspension of the First (and only) National Bank of th is city, and the Quincy Savings Bank, connected therewith, caused by the insolvency of the firm of Harris, Beebe & Co. This is the same bank that was burglarized some time ago to the extent of $100,000. It has always been regarded as the strongest and best managed bank here. The officers assure depositors that every dollar will be paid. This assurance is also given privately by the directors to their friends, who


Article from The Cheyenne Daily Leader, August 20, 1878

Click image to open full size in new tab

Article Text

ILLINOIS

A National Bank Succumbs. Quincy, Aug. 19.-The First National, which is the only national bank in the city, has suspended. It is understood that the large tobacco firm of Harris, Beebe & Co., were unable to meet their paper due to the bank and made it necessary to take this step. Some years ago burglars stole $100,000 from this bank. No statement of the bank's affairs is given except that of the directors and officers that all liabilities will be met.


Article from The Wheeling Daily Intelligencer, August 20, 1878

Click image to open full size in new tab

Article Text

Suspension of a National Bank

QUINOY, ILLS, August 19.-The First National, the only National Bank in this city, has suspended. The large tobacco firm of Harris, Beebe & Co. were unable to meet the paper duethe bank and made it necessary to take this step. Some years ago burglars stole-$100,000 from the bank. No statement-was-givenex cept that the directors and officers say that all the liabilities will be met.


Article from The Daily Dispatch, August 20, 1878

Click image to open full size in new tab

Article Text

Bank Suspension

QUINCY. ILL., August 19.-The First National Bank, the only bank in the city, has suspended. The officers say the liabilities will be met.


Article from Ottumwa Weekly Courier, August 21, 1878

Click image to open full size in new tab

Article Text

Bank Suspension

QUINCY, Ills., Aug. 19.-The First National Bank, which is the only naaional bank in the city, has suspended. It is understood that the large tobacco firm of Harris, Beebe & Co., were unable to meet their proper dues to the bank, and it made it necessary to take this step. Some years ago burglars stole $100,000 from this bank. No statement of the bank's affairs is given except that of the directors and officers that all liabilities will be met.


Article from The Milan Exchange, August 22, 1878

Click image to open full size in new tab

Article Text

himself. Colcord was a talented, but dissipated, man, about 35 years of age. Some five years ago he became separated from his wife and soon after formed a connection with the woman whom he murdered. She had led a somewhat adventurous life, and it is said that Colcord was intensely jealous of the supposed attention paid her by other men, which was doubtless the cause of the tragedy. Charles W. ร€ngell, of Chicago, Secretary of the Pullman Palace Car Company, has absconded with about $120,000 in cash and convertible securities, and is now supposed to be luxuriating in Europe. Judge Albert S. Marks, of Franklin County, is the Democratic candidate for Governor of Tennessee. The platform adopted by the State Convention favors the unconditional repeal of the Resumption act. Charles F. Hane, Cashier of the Canton (0.) Exchange Bank, committed suicide by poison on the 19th. He was 30 years of age and had become despondent on account of ill health. The First National Bank of Quincy, III., closed its doors on the 19th. The Quincy Savings Bank, a collateral institution, also shares in the default. The depositors of both institutions are assured that all their claims will be paid in full. The insolvency of the large tobacco-house of Harris, Beebe & Co., is the cause assigned for the Bank's suspension. John Tynans and Wm. Dorin, laborers in a stone-quarry near Pacific Junction, 20 miles south of Council Bluffs, Iowa, on the 18th were found dead alongside the road to their home, literally riddled with shot. A fellow-workman named McCreery is under arrest, charged with the murder, robbery being the incentive. Dorin was known to have $100 in his posession on the previous day. Four young Swedes, named John Pierson, Swan Johnson, Andrew Bloom and Frank Westbury, were drowned by the capsizing of their boat near Davenport, Iowa, on the 18th. Three of their companions reached the shore. Capt. W. H. Coates, a well known resident of Saugatuck, Mich., on the night of the 18th shot his wife fatally and then killed himself. No cause known.


Article from Lexington Weekly Intelligencer, August 24, 1878

Click image to open full size in new tab

Article Text

The First National and Quiney savings banks, Quiney, Ills. suspended business, last Monday. The strongest assurances are given that depositors will be paid in full.


Article from The New Bloomfield, Pa. Times, August 27, 1878

Click image to open full size in new tab

Article Text

Another Bank Goes Up

QUINCY, Ill., August 19.- The First national bank in this city has suspended payment. It is understood that th e large tobacco firm of Harris, Beebe & Co., were unable to meet their paper due to the bank and that the latter found it necessary to take this step. Some years ago burglars stole $100,000 from this bank. No statement of the affairs of the bank has been given except that of the directors and officers, who say that all liabilities will be met.


Article from The Wheeling Daily Intelligencer, September 20, 1878

Click image to open full size in new tab

Article Text

Resumed Business

) QUINCY, ILL., September 19.-The First National Bank, which recently suspended, re-opened this morning, with money on hand to pay all demands. The deposits Tex. to-day exceeded the withdrawals,


Article from Daily Kennebec Journal, September 20, 1878

Click image to open full size in new tab

Article Text

President Hayes

TOLEDO, September 19. The President and Mrs. Hayes arrived from Fremont this morning. spending the day in the city and in attendance at the State Fair, under the escort of Mayor Jones and the reception committee, and the 16th regiment. At the fair grounds it is estimated that 75,000 people were assembled to bear Mr. Hayes speak. ILLINOIS. Body Found. CHICAGO, September 19. The dead body of B. W. Fay, hatter, was found on the docks last evening, with a bullet hole through the head. Proba. ble suicide. Fire. The Catholic church at Galena, Illinois, is destroyed by fire. Loss, $15,000. Bank Matters. QUINCY, September 19. The First National Bank, which recently suspended, re opened this morning with money on hand to pay all demands. The deposits to-day exceed the withdrawal.


Article from Daily Globe, September 20, 1878

Click image to open full size in new tab

Article Text

Banking Notes

QUINCY, Ill., Sept. 19.-The First national bank, which recently suspended, reopened this morning with money in hand to pay all demands. The deposits to-day exceeded the withdrawals. BOSTON, Sept. 19.-The stockholders of the Merchants national bank, of this city, voted to-day to reduce the capital from $1,000,000 to $750,000, subject to approval of the comptroller of the currency.