4616. State Bank of Illinois (Springfield, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 31, 1848
Location
Springfield, Illinois (39.802, -89.644)

Metadata

Model
gpt-5-mini
Short Digest
e06d61a8ce9d2db1

Response Measures

None

Description

Newspaper accounts (Nov 1848) report the charter of the State Bank of Illinois had expired and the governor appointed trustees to finally close and liquidate its affairs under the liquidation law. This is a voluntary winding-up (closure) rather than a run or forced government seizure. Articles show minor discrepancy in the reported expiration day (21st ult. vs. 31st ult.); I use 1848-10-31 as the likely charter-expiration date from the later notice.

Events (1)
1. October 31, 1848 Suspension
Cause
Voluntary Liquidation
Cause Details
Charter expired and board assigned assets to trustees; governor appointed trustees under liquidation law to finally close the bank's affairs.
Newspaper Excerpt
The Governor of Illinois, by authority of the last liquidation law, has appointed Messrs. N H Ridgely, Uri Manly, and John Calhoun, trustees, for finally closing its affairs.
Source
newspapers

Newspaper Articles (2)
1. November 15, 1848 Wheeling Times and Advertiser Wheeling, WV
Article from Wheeling Times and Advertiser, November 15, 1848

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Article Text

# STATE BANK OF ILLINOIS. The charter of this bank expired on the 21st ult. We learn from the Springfield Journal, that the Governor of Illinois, by authority of the last liquidation law, has appointed Messrs N H Ridgely, Uri Manly, and John Calhoun, trustees, for finally closing its affairs. The Board of Directors have assigned to these Trustees all the effects of every kind of the Bank, and have given them power to do everything necessary to the performance of the trust. Three hundred Grisettes have fled from Paris to New Orleans. They are said to be lively, intelligent and pretty, and have created considerable excitement among the bachelors in that region. The editor of the Crescent pronounces them sweet.

2. November 24, 1848 The Daily Crescent New Orleans, LA
Article from The Daily Crescent, November 24, 1848

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Article Text

STATE BANK OF ILLINOIS. The charter of this Bank expired on the 31st ult. We learn from the Springfield Journal, that the Governor of Illinois, by authority of the last liquidation law, has appointed Messrs. N. H. Ridgely, Uri Manley and John Calhoun, trustees, for finally closing its affairs. The Board of Directors have assigned to these trustees all the effects of every kind of the Bank, and have given them full power to do every thing necessary for the performance of the trust. FIRE AT CINCINNATI.- - The Foundry of J. M. Niles, at the corner of Front street and the canal, was destroyed by fire on Tuesday morning, the 14th, at about 1 o'clock. The insurance had expired on Monday morning, says the Globe, and Mr. Niles had renewed it in the afternoon. It amounted to $3000, and nearly covered the loss. There was a fire-proof wall between the moulding floor and finishing room, so that the latter was saved, or else the loss would have been some $50,000. Mr. Niles had the wall fixed last winter, for fear of just such an accident. It will take only a few weeks to repair the damage, and Mr. Niles will commence repairs immediately.