4525. L. D. Taylor & Co. (Chicago, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
August 11, 1896
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini
Short Digest
fef44a10

Response Measures

None

Description

Multiple contemporary newspaper reports (Aug 11–13, 1896) state the private bank L. D. Taylor & Co. was closed by order of the court and the Equitable Trust Company appointed receiver. There is no mention of a depositor run prior to the closure in the provided articles; the action appears to be a court-ordered suspension leading to receivership/permanent closure.

Events (1)

1. August 11, 1896 Suspension
Cause
Government Action
Cause Details
Closed by order of the court; Equitable Trust Company appointed receiver; reported as a private bank failure/suspension by court order.
Newspaper Excerpt
The private bank of L.D. Taylor & Co., successors to North & Taylor, closed to-day. By an order of the court, the Equitable Trust company was made receiver.
Source
newspapers

Newspaper Articles (11)

Article from Santa Fe Daily New Mexican, August 11, 1896

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GOLDBUG OBJECT LESSONS. Beauties of the Beneficent Gold Standard Policy Exemplified--Banks 60 to the wall. New York, Aug. 11. - The following notice, signed by F. D. Kilburn, superintendent of banking, was ported on the Murray Hill bank to-day: "This bank is closed pending an examination of the condition of its affairs." The bank is one of the oldest state institutions of this city. The deposits amount to about $1,250,000. It is believed that they will be paid in full. One reason advanced for the suspension is that the bank had to take a considerable amount of real estate for loans. BANK CLOSED IN DULUTH. Duluth, Minn.-The Security bank, capital $100,00, one of the leading banks of the city, closed this morning. Heavy withdrawals and the impossibility of making speedy collections is given as the cause. M. D. Kenyon, state bank examiner, is in charge. The deposits are in the neighborhood of $300,000. BANK FAILURE IN CHICAGO. Chicago.-The private bank of L.D. Taylor & Co., successors to North & Taylor, closed to-day. By an order of the court, the Equitable Trust company was made receiver. The assets are $150,000; liabilities $100,000.


Article from The Topeka State Journal, August 11, 1896

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Chicago Bank Fails. Chicago, Aug. 11.-The private bank of L. D. Taylor & Co., successors to North & Taylor, 959 West Madisor street, was closed today. By order of the court the Equitable Trust company was made receiver. The assets art $150,000; liabilities, about $100,000.


Article from The Madison Daily Leader, August 12, 1896

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Private Bank Suspends. CHICAGO, Aug. 12.-The private bank of L. D. Taylor & Co., successors to North & Taylor, 959 West Madison street, has been closed. By order of the court, the Equitable Trust company was made receiver. The assets are $150,000, liabilities about $100,000.


Article from The Evening Times, August 12, 1896

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Briefs Wire The Virginia Press Association is in sesStatution 18 nots John Clever of Wythe county, Va was struck by lightning and killed. gmm drowned in the Patapaco River. em of xodillans jo sames ua) are There Eruptive_ Hospital to Paducab, Ky W C. Cosgrove, à seaman, died at the Portsmouth navy yard from the heat The supreme body of the Order of the Rechabites of America is in session in Norfolk. The biennial convention of the Negro Democratic League was begun yesterday Chicago up Congressmen William R. McKenney of 'III used say Petersburg, JO con valescing Joseph E. Plank of Rosebank, L.I., died from the effectsion heat three hours after F) being married. Philip Van Rensselaer Stanton, said to 01 Jas AMT em need DA BY SI Broophy Thomas Killbridge, of New York, who refused all food and lived on beer, died from lack of nouristment. L. D. Ta ylor & Co., private brokers, Chicago, closed yesterday. Assets, $150,000; liabilities, $100,000. Major James, Cheston Worthington, of the United States army, died in Louis14310 Aupuop uo Charles Wood was struck by a train on the Perkiomen Railroad, near Emaus, Pa., last night and killed. seam euo 10 SEM OUM Bennrd a Read PIO eq.L., If Jestings killed himselfin New York. The Baltimore and Ohio station at Lexington, Va., was broken into and robbed cash up JO 94214 Arpung Chauncey M. Depew, who visited Cornelius Vanderbilt at Newport, reports the latter's condition as improving. teat que JO eno "V 3 R secure known of Canadian painters, died yesterrears pe30 'Xup LI Hung Chang visited the Bank of England yesterday and attended a banquet in Fishmongers' Hall, in London. Congressman A.M. Dockery was renomiSIN name am JO Democrates am 4q natud souri district at Cameron yesterday The International Association of Fire [enuue sig Supplon #1 Regiseers session in Salt Lake City, Utab. Gov. Lowndesor Maryland has refused to grant Garrettcounty assessors an extension of time for the completion their work. The centennial of the evacuation of Fort Niagara by the British troops was celebrated in Niagara Falls yesterday. During a thunder shower Rogers, Ark., 1003 pue "f" 1851 old daughter were.struck by lightning and killed. The London Pall Mall Gazette says: EngJ9 Maja 115 qett election of McKinley are projecting branches in the United States o wing to the extreme heat the extensive locomotive shops of the Erie Railroad Company at Susquehanna, Pa., were yes. terday closed indefinitely H M JO insurred and Treworgy, wholesale lumber dealer. Eoston. It understood the liabilities are in the vicinity of $200 Charles Cutcher, a prominent citizen or sed B Aq SEM ""d Greenback, Road KOHEA eq) do ujen sender $10.00 07 beau The entry bujkNeg Anamosa, III., 000 jo any goals pue moos Sump (eq) chapel were by fire last night. George Walter Columbia, Ohio. was of most thrown yesterday, and, bis an SUM 100j catching passes eq horse. 1 blooks ever JOJ Junes SUM en Nums were the Hearers of Sister Mary B as JO ber of the Order of the Good Shepherd, whice funeral took place at the convent, corner of Mount and Hollins streets, Baltimore The Treasury Department has not been officially informed of the refusal of Canadian banks to take our silver certificates except at a discount. No action will be taken by this government. Albert Wade, formerly assistant cashier of the First National Bank of Mount Vernon, Ind., who absconded eighteen arrested SUM '000'0F$ quite ONE months in Nashville, Tenn., on Monday night. Ray Bossart, aged eight years, was drowned at Ashley, Pa., yesterday morning. He was playing near the Blackman mine pond when he fell in and sank before 19.1 SEM spoq SH mill reach could djay covered. The combination of English thread manufacturing houses, which have plants in this country, is being interpreted by some of the large New York jobbers as an effort -91 qui 4q them JO pm jaz 01 tailers directly. Contract has been awarded to J.J. Walsh & Son of Baltimore by Receivers Cowen and Murray of the Baltimore and Ohio RallJames B JO erection and JOJ DEOJ warehouse on Henderson's wharf, to cost 000'00% about Judge Goff, in the United States circuit court, heard argament on the application of Receivers Cowen and Murray of the Baltimore and Ohio for permission to issue $650,000 additional receivers' certificates JOJ Michael Earley, aged thirty years, while taking timber down the mines at Merriam colliery. Ashland, Pa., yesterday afternoon, slipped off the truck and fell headforemost to the bottom, where his dead moq un punoj SEM Apoq pue later. Edward McDonough, aged twenty-five years, residing in Scranton, Pa., was after-


Article from The Wichita Daily Eagle, August 12, 1896

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BANK DOORS ARE CLOSED One of New York's Solid Institutions Suecumbs to Real Estate Security. New York, Aug. 11.-The following notice signed by F. D. Kilburn, superintendent of banking, was posted on the door of the Murray Hill bank today: "This bank is closed, pending an investigation of the condition of its affairs." The bank is one of the oldest state institutions in this city. The deposits amount to albout $1,250,000, and it is believed that they will be paid in full. One reason advanced for the suspension is the fact that the bank had to take a considerable amount of real estate for loans. The Murray Hill bank was organized in 1870. It has been regarded as one of the strongest of the smaller up-town institutions. It is understood there is due its depositors about $1,250,000. The customers of the bank were cheifly local tradesmen and it had some brewery accounts. The capital of the bank was $100,000. Mr. F. T. Hopkins is president, and the directors are Rufus M. Stiver, John Weier, James Carney, Bernard Metzger, F. Hopkins and Phillip Diehl. Examiner Kilburn gave out a statement this afternoon that the cash assets of the bank amountel to $130,000, and $34,000 due from the clearing house. Of this amount $45,000 at least may be deducted in exchange for yesterday's business. It also has $56,400 unavailable assets in the shape of bonds of a brewing company to which the bank loaned large amounts but which are said to be not worth 10 cents on the dollar. The bank has sold $122,000 in second mortgage bonds and $108,000 of this amount is hypothecated for a loan of $84,000. The deposits of the bank have fallen off $250,000 in the last few months. Three hundred thousand dollars of the $872,000 which is outside available assets is hypothecated to secure large houses and another loan on the outside of $50,000. There are 1,254 depositors affected by the closing of the bank. Mr. Kilburn also said: "I closed the Murray Hill bank because it was in an unfit condition, after consulting with the clearing house committee and the board of directors of the bank. The trouble is, as far as I am able to ascertain, that they have not sufficient money to do business and no way of raising it without great sacrifice. It is my opinion that the depositors will be paid in full. "I had a meeting with the directors this morning and proposed to them that if they could raise $100,000 and put it into the assets, I would allow them to continue. I found this impossible and believing that a further continuance of business would develop into a worse state of affairs, I deemed it advisable to close the bank at once." Duluth, Minn., Aug. 11.-The Security Bank of Duluth, capital $100,000. one of the leading banks of the city, closed its doors this morning. Heavy withdrawals of deposits and impossibility of making speedy collections is given as the cause. M. D. Kenyon, state examiner, is in charge. The bank's deposits are in the neighborhood of $300,000. Chicago, Aug. 11.-The private bank of L. D. Taylor & Co., successors to North & Taylor, 959 West Madison street, was closed today. By order of the court the Equitable Trust company was made receiver. The assets are $150,000; liabilities about $100,000. Dallas, Tex., Aug. 11.-Hetherington and Nelson, dealers in machinery supplies, filed a deed of trust yesterday; liabilities $34,430.


Article from Evening Star, August 12, 1896

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CAUSED BY WITHDRAWALS. The Security Bank of Duluth Closes Its Doors. The Security Bank of Duluth, capital $100,000, one of the leading banks of the city, closed its doors yesterday. Heavy withdrawals of deposits and impossibility of making speedy collections are given as the cause. M. D. Kenyon, state examiner, is in charge. The bank's deposits are in the neighborhood of $300,000. The private bank of L. D. Taylor & Co., successors to North & Taylor, 959 West Madison street, Chicago, was closed yesterday. By order of the court the Equitable Trust Company was made receiver. The assets are $150,000; liabilities about $100,000.


Article from The Bryan Daily Eagle, August 13, 1896

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Private Bank Closed by Court. CHICAGO, Aug. 12.-The private bank of L. D. Taylor & Co., successors to North & Taylor, has been closed by order of the court. The Equitable Trust company was made receiver. The assets are $150,000, liabilities $100,000.


Article from Great Falls Weekly Tribune, August 14, 1896

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L. D. Taylor & Co., Chicago. CHICAGO, Aug. 11.-The private bank of L. D. Taylor & Co., successors to North & Taylor, 959 West Madison street, closed today by order of the court. The Equitable Trust company was made receiver. Assets, $150,000; liabilities, $100,000.


Article from The Dickinson Press, August 15, 1896

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Chicago Bank Failure. Chicago, Aug. 13.-The private bank of L. D. Taylor & Co., successors to North & Taylor, 959 West Madison street, was closed to-day by order of the court. The Equitable Trust company was made receiver. The assets are $150,000; liabilities about $100,000.


Article from Perrysburg Journal, August 15, 1896

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FAILURE OF THREE BANKS. Financial Institutions in New York, DuIuth and Chicago Close Their Doors-Deposits Aggregate Nearly $2,000,000. NEW YORK, Aug. 12.-The Murray Hill bank, doing business at 760 Third avenue, one of the oldest state banks in the city, closed its doors yesterday. A notice from the state superintendent of banking, which was posted on the door, states that the bank is closed pending an examination of its affairs. The bank has deposits of about $1,250,000, which, it is believed, will be paid in full. It is understood that the bank was compelled to suspend because it has had to take a good deal of real estate for loans. It is understood that the directors held a meeting yesterday for the purpose of raising the $500,000 said to be needed to carry on the bank's business. The capital stock of the bank, when incorporated, was given as $100,000. DULUTH, Minn., Aug. 12.-The Security Bank of Duluth, one of the largest state banks in the state, closed its doors Tuesday morning. The capital stock of the bank was $100,000 and its surplus $40,000. Its last statement showed total resources of $535,835. The total deposits on July 22, the date of the bank's statement, were $329,324. None of the officers of the bank will talk about the bank's affairs further than to say that they expect to pay all deposits in full. The failure has caused considerable excitement and further failures are feared. The bank was organized in 1889. The capital stock is $100,000; surplus $40,000 and average deposits $425,000. CHICAGO, Aug. 12-The private bank of L. D. Taylor & Co., successors to North & Taylor, No. 959 West Madison street, was closed Tuesday. By order of the court the Equitable Trust Co. was made receiver. The assets are $150,000; liabilities about $100,000.


Article from The Kootenai Herald, August 15, 1896

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COULD NOT MAKE COLLECTIONS Eastern Banks are Forced to the Wall. New York, Aug. 11.-The following notice signed by F. D. Kilburn, superintendent of banking, was posted at the Murray Hill bank today: "This bank is closed pending the examination of the condition of its affairs." The bank is one of the oldest state institutions in this city. The deposits amount to about $1,250,000. It is believed that they will be paid in full. One reason advanced for the suspension is that the bank has had to take a considerable amount of real estate for loans. Leading Duluth Bank Suspends. Duluth, Minn., Aug. 11.-The Security bank, with a capital of $100.000, one of the leading banks of this city, closed its doors this morning. Heavy withdrawals of deposits and the impossibility of making speedy collections, are given as the cause. M. D. Kenyon, the state examiner, is in charge. The deposits are in the neighborhood of $300,000. Chicago Bank Suspends. Chicago, Aug. 11.-The private bank of L. D. Taylor & Co., successors to North & Taylor, was closed today. By orders of the court the Equitable Trust Company was made receiver. The assets are $150,000, with liabilities of about $100,000.