First National Bank - Chicago, IL

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 8
Charter Number: 2670
Start Date: April 8, 1884
Location: Chicago, Illinois (41.850, -87.650)

Metadata

Model: gpt-5-mini
Short Digest: 9d37dc28

Response Measures

None

Description

Article (Chicago, April 8) reports the First National Bank closed its doors at 11 o'clock this forenoon due to speculation by cashier B. T. O. Hubbard (deficit $45,000–$100,000). The piece states the bank expects to resume in a day or two. No mention of depositor run; suspension appears due to bank-specific adverse information. The reopening is reported as expected but not definitively confirmed in this article.

Events (2)

1. April 8, 1884 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Speculation/embezzlement by cashier B. T. O. Hubbard; deficit estimated $45,000 to $100,000.
Newspaper Excerpt: Chicago, April 8th.-The First National Bank closed its doors at 11 o'clock this forenoon. The cause assigned is speculation by the cashier, B. T. O. Hubbard, whose deficit is estimated at from $45,000 to $100,000.
Source: newspapers

2. * Other

Newspaper Excerpt: The bank expects to resume in a day or two, as the stockholders are liable, and all are moneyed men.
Source: newspapers

Newspaper Articles (1)

1. April 21, 1884 The Daily Bulletin Honolulu, HI

Article from The Daily Bulletin, April 21, 1884

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Article Text

Gen. Stereached this city to-day. phenson, commander-in-chief, will to-morrow review the troops returned from Suakin. Paris, April 7th.-Advices from Tonquin state the French will attack Hunghoa April 11th. Chicago, April 8th.-The First National Bank closed its doors at 11 o'clock this forenoon. The cause assigned is speculation by the cashier, B. T. O. Hubbard, whose deficit is estimated at from $45,000 to $100,000. The bank expects to resume in a day or two, as the stockholders are liable, and all are moneyed men. The stemer Daniel Steinmann, from Antwerp, to Halifax, sunk 20 miles off port.. Nine men are landed out of 140 on board. London, April 12th.-Coward Smith, American Consul at Manheim, died of apoplexy last evening in a railway carriage near Reading. He was on his way home. Antwerp, April 12th.-The - Messrs. Ghislin, bankers of Chartersi and Antwerp, have failed. Liabilities, 16,000,000f. Paris, April 12th.- According to advices frow Hue, the Anamites state that Hunghoa has been evacuated.