4600. National Bank (Chicago, IL)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
1867
Charter Number
1867
Start Date
May 12, 1893
Location
Chicago, Illinois (41.850, -87.650)

Metadata

Model
gpt-5-mini
Short Digest
132034b2

Response Measures

None

Description

Articles (May 1893) report a Chicago 'Columbia National Bank' and its branches closing May 12; one brief notice says the bank 'closed this morning' but expects to be 'running again in two or three days.' The provided bank name is generic ('National Bank') and it is unclear if the articles refer exactly to that name or to 'Columbia National Bank' or another 'National' bank in Chicago. I therefore mark bank_name_unsure=true. Classification: suspension with expected reopening.

Events (1)

1. May 12, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed (suspended) due to failure/ adverse condition at the Columbia National Bank of Chicago and related problems; branches also closed because of relation with Columbia National Bank.
Newspaper Excerpt
National. of Chicago, closed this morning. Cashier Watts says that the depositors will be paid in full and the bank running again in two or three days.
Source
newspapers

Newspaper Articles (3)

Article from Grand Rapids Herald, August 3, 1892

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Article Text

HAD A BOLD SCHEME To Rob Several Banks in Chicago. HOW FORGERS WERE NIPPED In a Well-Devised Plan to Defraud Un. suspecting Bank Officials-How It Was Foiled. CHICAGO, Aug. 2.-The discharge of George Bartela, paying teller of the Central Trust and Savings bank, and his subsequent flight with $3,000 of the firm's cash has unearthed a gigantic conspiracy to defraud five Chicago banks. The scheme was partially successful. and over $50,000 was secured from Bartel's former employer, but was made good by reputable men who had vouched for the integrity and business ability of young men who engaged in the deal. Another bank 18 said to have lost $20,000, which amount was also made good by the same security. Three of the men formerly connected with the Chicago Bank Note company have been arrested, charged with conspiracy to defraud and the issuance of fraudulent paper. These men are William A. Forbes, N. W. Burnside and Charles M. Anson. George Bartels, the fourth man who is wanted, has left the country. Charles Nichols, a go-between, has made affidavit exposing the whole scheme as far as it is known to him. The plot is the most ingenious ever nipped in the financial arena of this city. The plan was simple. Plan of the Operators. Forbes was manager of the Chicago Bank Note company; Burnside, a son of a well known physician, was associated with Forbes, and Anson was but an employe of the firm. These young men were vouched for by Gen. Allen C. Fuller and numerousmen of wealth and financial standing. They opened accounts with the Central Trust and Savings bank. the Globe National bank. First the State Bank of Chicago, the National bank and the Milwaukee Avenue State bank. Immediately they deposited checks, which have since been found to be fraudulent, and later drew out the cash. By collusion with Bartels the great run of the paper was dumped on the Central Trust Savinge bank. The system that was developed was the work of months. The teller, in the absence of the cashier. certified all papers and the forged drafts,checks, etc., were only deposited when the higher officials of the banks were out. Made the Banks Good. The same system was played on the Globe National. although Vice President Stone was not in the city today to affirm or deny the statement. It is now learned that the plotters intended to pull all the banks they had deposited money with into their net and then break up and clear out. However that may be the paper came to protest too soon to admit of more extended fro and the ring was brought up with a round turn. The amount the Central Trust and Savings bank found itself short was nearly $50,000. The bank had taken every precaution to for to accept from their customers early in game. secure officials been papers suspicious compelled themselves the while the they they forged When were had the end came Allen C. Fuller, who is reported to be worth over $10,000,000, and Dr. Burnside, his brother-in-law. both of whom had implicit confidence in the young men, paid all the shortage and none of the banks is out one cent


Article from St. Paul Daily Globe, May 13, 1893

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Article Text

National. of Chicago, closed this morning. Cashier Watts says that the depositors will be paid in full and the bank running again in two or three days. EDWARDSBURG, Mich., May 12.-The Citizens' bank, of this place, closed its doors this morning. About $25,000 of local deposits are affected. It was a branch of the Chicago Columbia. CONVOY, O., May 12.-The Farmers' Bank of Convoy. O.. closed its doors today, caused by its relation with the Columbia National Bank of Chicago. No particulars. A card on the door states: This bank has suspended." CINCINNATI, May 12.-The private bank of Dwiggins. Starbuck & Co., at Phillipsburg, O., closed its doors, after making an assignment-late last night, in compliance with instructions of Dwiggins, of Chicago. The assets are estimated at $35,000 and the liabilities at $60,000. It was one of the branches of the Columbia bank, of Chicago. An expert accountant who was employed at the bank yesterday, and who came to this city on au early train this morning, was arrested on a telegraphic request, coupled with a charge of embezzlement. TOLEDO, May 12.--The Ottawa County bank at Elmore, a branch of the Chicago Columbia, has closed its doors and the bank officials are not to be found.


Article from Iowa County Democrat, June 9, 1893

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Article Text

un1 peen started on is us condu. 1 cannot ted on financial the derstand. have soundest The bank No, sir; princip the Schaffner es. it", We he not speculate. had nothing to do with failure in reply to a for we applied to anyone of cash in to meet all ance. answered do have There is plenty demands." question, statement assist- "nor our vaults the same another Substantially secured from Mr. bank Miller, the of was the officers of heavy the run upon the There was a National Bank and ComState State Savings and are all day. the Both southwest corner and of located Prairie Prairie pany institutions Trust Streets Side Desplaines at and Washington largely by West and by are business patronized mechanics managed doors are men owned and When the of the there concerns the same Prairie capitalists. State National was a opened large crowd this morning of entrance. people waiting From+ closing to 9 an hour for was a o'clock gain until constan: the stream of depos- their itors anxious So dense to became the that crowd the about money. there cashier S window withdraw necessary the policeman were were of a order. The from arranged to preserve in lines down the corridors entrance services up and window. leading depositors paid out the to the cashier's amount was An immense day without any Several during the in the bank crowd. brought in ble diminishing of the dumped percepti- it times sat employes heis of gold and The bank large the cashier's take desk. the matter officials and appear met all the demands easily upon to excitement made that them. general Bank struck In the the public but the the result thus A run alarming bank at 10 upon did not escape, to the Hibernian officials. o'clock, far was started on the day were and as fast as the bank has is not throughout paid the cash. the The days' tellers depositors notice, could the right count to out demand deemed ninety necessary at but it was and all demands were p: in the morning window the present met. not demand omptly could adfor Early money at the run, teller's but as the day be a rumors were and wild a great not vanced called the street Ashland crowd circulated on entrance to thronged line of anxious Block and the from the teller's to tors extended street the below. for window alarm," deposisaid the There is no occasion president of the Hibernian this thing coming for We can and are IS within days have J. seen V. Banking Clarke, run prepared that Association. for it. extended reason ninety "We their stand and demands I do any not on the anticipate our part pitrons of any depositors. could to take deWe are te ling although we notice Brothers on the Dime 104 Washington cipitared max Meadowcroft oney, a run Commerce, Street. failure Savings pre- But the at at the Bank of small as made ch elly by the more was and there was really than on the sidewalk of large crowd eitement here, positors run Bank the disinter- strug- inside de- exthe bank, a watching ested sightseers inside with morbid gling crowd President Samuel G. bank Bailey and curiosity. threshold of the whom he did stood on all the those persons have a inside. all Said right, and this place but stopped not know personally he to a to reporter: foolish deposit "Our this run bank is never have taken failure for morning. for We every have dollar a that paying has am would a half the deposited. Meadowcroft We depositors. are dollar that and I been a to all what only at liberty to tell you are not percentage their full deposits law requires lowed some notice. The can say not percentage is. Depositors without emphat- giv- aling us But you that the ically, as coming and will in due ninety days. right from me, plen- time bank everybody is all in full. We have pay ty of cash on hand."