4648. First National Bank (Toluca, IL)

Bank Information

Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
national
Bank ID
4871
Charter Number
4871
Start Date
July 5, 1905
Location
Toluca, Illinois (41.002, -89.133)

Metadata

Model
gpt-5-mini
Short Digest
743cb867d82bea2f

Response Measures

Full suspension, Books examined

Receivership Details

Depositor recovery rate
96.0%
Date receivership started
1905-07-05
Date receivership terminated
1911-08-10
OCC cause of failure
Excessive lending
Share of assets assessed as good
25.4%
Share of assets assessed as doubtful
64.0%
Share of assets assessed as worthless
10.6%

Description

Multiple contemporary articles (July 5, 1905) report the First National Bank of Toluca, Ill., closed and a national bank examiner/receiver appointed after runs and in connection with the failure of C. J. Devlin and the related failure of the Topeka bank. Receiver later formally named (Harry M. Taggart, Aug 1905). Sequence: depositor runs/lines -> suspension/closing -> receiver appointed -> bank remained closed (assets/liabilities reported).

Events (6)

1. May 10, 1893 Chartered
Source
historical_nic
2. July 5, 1905 Receivership
Source
historical_nic
3. July 5, 1905 Receivership
Newspaper Excerpt
The comptroller of the currency has appointed National Bank Examiner J. MacSholl receiver of the First National Bank of Toluca, Ill., upon advice from the vice president of the bank that it would not open for business this morning, and a request to have an examiner take charge.
Source
newspapers
4. July 5, 1905 Run
Cause
Bank Specific Adverse Info
Cause Details
Runs and withdrawals precipitated by the failure of C. J. Devlin and reports about his finances / failure of the First National Bank of Topeka tied to Devlin.
Measures
Directors posted suspension notice; bank did not open for business and requested an examiner to take charge.
Newspaper Excerpt
Both banks had runs made upon them.
Source
newspapers
5. July 5, 1905 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension ordered because of the failure of C. J. Devlin (president of the Toluca bank) and the related failure at Topeka; directors posted suspension before opening amid long lines of depositors.
Newspaper Excerpt
the vice president of the bank that it would not open for business this morning, and a request to have an examiner take charge.
Source
newspapers
6. August 8, 1905 Receivership
Newspaper Excerpt
Harry M. Taggart, of Wenona, Ill., has been appointed receiver of the First National bank of Toluca, Ill.
Source
newspapers

Newspaper Articles (21)

Article from Evening Star, July 5, 1905

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Article Text

Result of Devlin's Failures. The controller of the currency has appointed National Bank Examiner D. A. Cook, receiver of the Spring Valley National Bank of Spring Valley, III., upon advice received from Examiner Cook that the bank had closed. The controller has also appointed National Bank Examiner J. MacSholl receiver of the First National Bank of Toluca, Ill., upon advice from the vice president of the bank that it would not open for business this morning, and a request to have an examiner take charge. The suspension of these banks is due to the failure of C. J. Devlin, who was president of both of them. The capital of the Spring Valley National Bank is $50,000, and of the First National of Toluca $100,000.


Article from Las Vegas Daily Optic, July 5, 1905

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National, says he does not believe the state will be a preferred creditor and that it will have to take its chances with the other creditors. Bradley says it will be ten days before he will be able to give a statement of liabilities and assets. Unable to Make Statement. Peoria, III., July 5.-D. A. Cook, national bank examiner, who was appointed receiver of the Spring Valley Bank of Spring Valley, III., was unable to make a statement today as to the condition of the bank's financial af. fairs, and the amount owed the bank by the Devlin estate. There was no run on the institution when its doors were closed. The comptroller has also appointed J. MacSholt receiver of the First National bank of Toluca, III., upon the advice of the vice president of the bank that it would not be open for business this morning. The suspension of these banks is due to the failure of C. J. Devlin, who was president of both. The capital of the Spring Valley national is $50,000 and of the First National of Toluca is $100,000. Petition to Be Filed. Topeka, Kas., July 5.-A petition to declare C. J. Devlin bankrupt will be filed in the United States district court today. in behalf of Kansas creditors. Another Failure. Washington, July 5.-The comptroller of the currency has appointed National Bank Examiner D. A. Cook, receiver of the Spring Valley National bank of Spring Valley, Ill. upon the advice received from Cook that the bank was closed.


Article from Rock Island Argus, July 5, 1905

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DEVLIN'S FAILURE WRECKS BANKS Institutions at Spring Valley and Toluca, III., Forced to the Wall. Washington, July 5.-The comptroller of the currency has appointed national bank examiners receivers for the Spring Valley National bank, of Spring Valley, Ill., and the First National bank of Toluca, III., upon information that both institutions had closed. The suspension of the banks was due to the failure of C. J. Devlin, president of both of them. The capital of the Spring Valley Naitonal bank is $50,000, and of the First National of Toluca $100,000.


Article from Los Angeles Herald, July 6, 1905

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DEVLIN'S FAILURE CLOSED TWO BANKS Institutions at Spring Valley and Toluca in Hands of Comptroller of Currency By Associated Press. WASHINGTON, July 5.-The comptroller of the currency has appointed National Bank Examiner D. A. Cook receiver of the Spring Valley National bank of Spring Valley, Ill., upon advice received from Cook that the bank had closed. The comptroller has also appointed National Bank Examiner J. Macsholt receiver of the First National bank of Toluca, Ill., upon advice from the vice president of the bank that it would not open for business this morning. The suspension of these banks is due to the failure of C. J. Devlin, who was president of both of them. The capital of the Spring Valley National bank is $50,000 and of the First National of Toluca $100,000.


Article from Ottumwa Tri-Weekly Courier, July 6, 1905

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TWO ILLINOIS INSTITUTIONS ARE CLOSED BECAUSE OF KANSAN'S TROUBLES. APPEAL TO THE COURTS Kansas City Creditors Petition for a Decree of Bankruptcy Against Dev. lin-Topeka Banks Withstand Run Which Started Monday and Are in Good Condition. Washington, D. C., July 4. - The comptroller of the currency . has appointed the national bank examiners receivers for the Spring Valley National bank of Spring Valley, III., and for the First National Bank of Toluca, Ill., upon information that both institutions had closed. The suspension of these banks are due to the failure of C. J. Devlin, who was president of both of them. The capital of the Spring Valley National bank was $50,000 and that of the First National of Toluca, was $100,000. Was Constructing Railroad. Topeka, Kans., July 5. - Just what amounts the Devlin estate owes to the Spring Valley and Toluca banks is not known, but it is stated that they became involved in loaning money to build the Toluca, Marquette & Northern railroad, a small coal carrying road which Devlin was constructing to his mining property in Illinois. Petition In Bankruptcy Filed. A petition to declare C. J. Devlin bankrupt was filed in the federal court here today on behalf of the Kansas City creditors. The runs on the Topeka banks which started on Monday following the failure of the First National bank had apparently been stopped when the institutions opened today and there was no excitement. The bank officials stated that they are in better shape than ever to meet all demands.


Article from The Cairo Bulletin, July 6, 1905

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ILLINOIS BANKS HURT. Spring Valley National and Toluca National Close Their Doors. La Salle, III., July 5.-The Spring Valley national bank closed its doors this morining after a run which began Monday afternoon. The run was precipitated by reports from Topeka, Kas., regarding the condition of President Devlin's affairs. Monday afternoon the Spring Valley bank was called on for $17,000. This was followed by a run by depositors, who drew out $20,000 before the bank closed. This morning the bank did not open. It is estimated the bank's deposits amounted to $500,000. The National bank of Toluca also closed its doors this morning. Devlin was also president of the Toluca bank.


Article from The Cairo Bulletin, July 6, 1905

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ILLINOIS BANKS HURT. Spring Valley National and Toluca National Close Their Doors. La Salle, III., July 5.-The Spring Valley national bank closed its doors this morining after a run which began Monday afternoon. The run was precipitated by reports from Topeka, Kas., regarding the condition of President Devlin's affairs. Monday afternoon the Spring Valley bank was called on for $17,000. This was followed by a run by depositors, who drew out $20,000 before the bank closed. This morning the bank did not open. It is estimated the bank's deposits amounted to $500,000. The National bank of Toluca also closed its doors this morning. Devlin was also president of the Toluca bank.


Article from Omaha Daily Bee, July 6, 1905

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DEVLIN IS BANKRUPT (Continued from First Page.) peka to assist Mr. Bradley. Mr. Lyons will pass on legal questions in connection with the examination. Creditors Issue Address. KANSAS CITY, Mo., July 5.-Late today the creditors' committee of the C. J. Devlin estate drafted an address which was immediately forwarded to all creditors of the Devlin properties, asking that they meet at Kansas City on July 31 to consider the situation, and urging that in the meantime no legal action be taken. Alexander New of the firm of attorneys for the creditors, who today filed bankruptey proceedings at Topeka, said that the situation was so complicated that it would be impossible to make any intelligent forecast of the final result. It was absolutely necessary, he said, to take some step to preserve the assets and prevent preferences by attachment or otherwise, and for this reason the bankruptey proeeedings were brought. Two Illinois Banks Closed. WASHINGTON, July 5.-The comptroller of the currency has appointed National Bank Examiner D. A. Cook receiver of the Spring Valley Natio al bank of Spring Valley, Ill., upon advice received from Cook that the bank had closed. The comptroller has also appointed National Bank Examiner J. Mac. Sholt receiver of the First National bank of Toluca, III., upon advice from the vice president of the bank that it would not open for business this morning and a request to have an examiner take charge. The suspension of these banks is due to the failure of C. J. Devlin, who was president of both of them. The capital of Spring Valley National bank is $50,000 and of the First National of Toluca $100,000. PEORIA, Ill., July 5.-D. A. Cook, national bank examiner, who was appointed receiver of the Spring Valley National bank of Spring Valley, Ill., refused to make a statement today as to the condition of the bank's finances or the amount owed the bank by the Devlin estate. There was no run on the institution when its doors were closed. The capital stock is $50,000.


Article from The Sun, July 6, 1905

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MORE DEVLIN BANKS CLOSE. Directors Did Not Walt for the Depositors' Impending Run. OTTAWA, III., July 5.-The Spring Valley National Bank of Spring Valley. III., with a capital of $50,000 and deposits of $483,000, and the First National Bank of Toluca, III., capital $100,000 and deposits $230,000, have closed. The suspension is due to the failure of the First National Bank of Topeka. Charles J. Deviin is president of both banks. Both Institutions were prepared to open for business this morning, but long before the hours of opening arrived long lines of depositors were ready to withdraw their funds. The directors, dubious of the outcome, immediately posted a suspension notice. Coincident with the failure of these two banks there was filed in this county a quit claim deed dated June 20 from Charles J. Deviin and Mary A. J. Devlin to the First National Bank of Topeka to all the lands and tenements in La Salle, Putnam and Marshall counties, with the exception of the right of way of the Toluca, Marquette and Northern Railway Company and ten acres known as the Griffith land. The value placed on this property is $350,000. Charles Devlin was born and grew to manhood in Peru, this county, and at one time was a messenger boy for the United States Express Company. He promoted and managed the great mining industries of Spring Valley, and was practically the founder of that city. TOPEKA. Kan., July .-State Treasurer Kelly of Kansas may lose his job because of the publicity given to matters connec ed with Devlin's affairs and the failure of the First National Bank. Among the deposits of the bank was one of $557,000 by the State of Kansas. The law explicitly prohibits State funds being deposited in banks, providing for its keeping in the State treasury. Technically, it is charged that Kelly is an embezzler to that extent until the money is returned to the State treasury. It is shown also that Kelly has deposited $200,000 in banks in Kansas City, Kan., Wichita and Hutchinson, while the law explicitly prohibits the deposit of State funds outside of Topeka. A petition to declare Devlin a bankrupt was filed in the United States District Court to-day on behalf of Kansas City creditors. The claims of the petitioning creditors aggregate $5,000. The effect of the action in bankruptcy will be to set aside the transfers of property which have been made by Mr. Devlin recently, except the transfers of life insurance, which were made payable to Mrs. Devlin.


Article from New-York Tribune, July 6, 1905

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TWO MORE DEVLIN BANKS CLOSE. National Bank Examiners Appointed Receivers at Spring Valley and Toluca, Ill. Washington, July 5.-The Controller of Currency has, appointed D. A. Cook, National Bank Examiner, receiver of the Spring Valley National Bank, of Spring Valley, III., upon advice received from Examiner Cook that the bank had closed. The Controller has also appointed J. MacSholt, National Bank Examiner, receiver of the First National Bank of Toluca, III., upon advice from the vice-president of the bank that it would not open for business this morning, and 3 request to have an examiner take charge. The suspension of these banks is due to the failure of C. J. Devlin. who was president of both of them. The capital of the Spring Valley National Bank is $50,000, and of the First National, of Toluca, $100,000. Peoria, III.. July 5.-D. A. Cook, National Bank Examiner, who was appointed receiver of the Spring Valley National Bank, of Spring Valley, Ill., refused to make a statement to-day as to the condition of the bank's finances or the amount owed the bank by the Devlin estate. There was no PM on the institution when its doors were closed.


Article from The Semi-Weekly Messenger, July 7, 1905

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TWO MORE BANKS CLOSE DOORS A Spring Valley and Toluca Banks Have Receivers Appointed Result of Failuve of C. J. Devlin. / Washington, July 5.-The comptroller of the currency has appointed National Bank Examiner D. A. Cook. receiver of the Spring Valley National Bank, of Spring Valley, Ill., upon advice received from Examiner Cook that the bank had closed. The comptroller has also appointed National Bank Examiner J. MacShali. received of the First National Bank of Toluca. Ills.. upon advice from the vice president of the bank that it would not open for business this morning and a request to have an examiner take charge. The suspension of these banks is due to the failure of C. J. Devlin, who is president of both of them. The capital of the Spring Valley National Bank is $50,000 and of the First National of Toluca $100,000.


Article from Barton County Democrat, July 7, 1905

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Washington, July 5:-The Spring Valley, Ill., National Bank, and First National Bank of Toluca, Ill., both owned by C. J. Devlin of Topeka, have been closed as a result of the failure of the First National of Topeka. Both were small concerns. The capital of the Spring Valley bank was fifty thousand dollars, and the Toluca bank had a capital of one hundred thousand. Both banks had runs made upon them.


Article from The Miller Sun, July 12, 1905

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MORE BANKS FAIL. Two Devlin Institutions in Illinois Closed. The comptroller of the currency at Washington, D. C., has appointed national bank examiners receivers for the Spring Valley National Bank. of Spring Valley, Ill., and the First National Bank, of Toluca, Ill., upon information that both institutions had closed. The suspension of the banks was due to the failure of C. J. Devlin, president of both of them. The capital of the Spring Valley National Bank was $50,000 and of the First National of Toluca, $100,000.


Article from River Falls Journal, July 13, 1905

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A roundhouse in the South Nashville, Tenn., yards of the Louisville & Nashville railroad was burned. Loss, $50,000. Nine locomotives were damaged to the extent of $1,000 each. C. J. Devlin filed in the United States district court at Topeka, Kan., an involuntary petition in bankruptcy. The petition schedules liabilities exceeding $2,600,000. James W. Alderdice, a lawyer convicted in New York of forgery, was sentenced to 18 years' imprisonment in Sing Sing. J. A. Spekenhier has been appointed receiver of the Commercial bank, of Hagerstown, Ind., on application of President Frank Mason. The liabilities exceed $100,000, while the assets are given as much less than that amount. Harry Walker, aged 18 years; and Alex. Worrall, aged 12, were dro wned in the Youghiagheny river near McKeesport, Pa. The seventh international conve ntion of the Epworth league was opened in Denver, Col. A tornado in Texas caused much loss of life and destruction of property in Montague county and the northern portion of the state. Twenty-four are known to be dead. The five-year-old son of Samuel Squillman, of Seymour, Ia., and the fouryear-old son of a neighbor, George Billard, were burned to death in a fire which destroyed Squillman's home. Herman Meminger, chief of the Milwaukee (Wis.) fire department, died from the effects of injuries sustained at a fire two months ago, when it was reported he inhaled acid fumes. Fred Ross, who was knocked out by Jack Donnelly in the sixteenth round of a prize fight at Aberdeen, Wash., is dead. His neck was dislocated and a blood clot gathered on the brain. Three railroad employes were killed and two injured and thousands of dollars' worth of property destroyed by a head-on collision on the Fitchburg division of the Boston & Maine railroad near Wachusett, Mass. Gen. Amasa Cobb, brigadier general of volunteers during the civil war, veteran of the Mexican war, congressman and ex-justice of the supreme court of Nebraska, died at Los Angeles, Cal, aged 82 years. The formal opening of the twenty-second International Christian Endeavor convention took place in Armory hall, Baltimore, Md., with about 8,000 delegates present. Mrs. Lucie B. Tyng, one of the bestknown temperance workers in the United States, died in Peoria, III. The new directory indicates Chicago's population to be 2,272.000. The weekly crop report shows that growth has been retarded by heavy rains, but the condition of corn in the corn belt is excellent. The money circulation July 1 was the largest per capita and in amount in the history of the country. Bank note issues in the past year were larger than the new gold increase. Most of the Chicago indicted packers, their agents and the companies in which they are interested have furnished bonds. Gov. Hanly's crusade against bookmakers has put an end to horse racing in Indiana. Samuel Thompson, a Chicago coffee importer, says the scheme of an eastern clique to have a tax imposed is a market manipulation to secure $12,000,000 profit on stock. Graeme Stewart's will, dividing an estate of $500,000 between his widow, children, brothers and sisters, was filed in Chicago. The Spring Valley (III.) national bank and the First national bank of Toluca, Ill., closed their doors as the result of the failure of C. J. Devlin, of Topeka, Kan. S. L. Frazer, of Chicago, when asked for an accounting by his partner in the brokerage business suddenly fled, leaving an alleged defalcation of $100,000. The Wabash Railway company has discharged its superintendent of the secret service department and 121 men employed in detective work. Fourth of July casualties reported throughout this country number 42 deaths and 2,431 injured. Loss of life variously estimated at more than 200 and less than 1,000 persons, and property damage to the extent of over $1,000,000 were caused by the recent flood which swept over the town of Guanajuaro, Mex. John Bowman, cashier of the Commercial bank of Hagerstown, Ind., committed suicide by shooting. No cause for the deed is known. Ten business houses and one dwelling at Roulette, Pa., were destroyed by fire. entailing-a loss of $50,000. The insurance was small. The American revivalists, Rev. Reuben A. Torrey and Charles M. Alexander, concluded their five months' revival campaign in England with a great thanksgiving service at Albert hall, London, for the 14,000 converts recorded. In view of the bad harvest prospects owing to the drought and the storms in Portugal, King Charles has sanctioned the importation of 75,000 tons of American wheat and has ordered the reduction of the customs duties by 50 per cent. The heat, which continued several days throughout central Europe, has caused, it is estimated from the reports now coming in, more than 100 deaths in Germany. At midday in the shade the temperature has been as


Article from The L'anse Sentinel, July 15, 1905

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each. 000'T$ JO 11 J. Devlin filed in the United States ict court at Topeka, Kan., an involry petition in bankruptcy. The pe1 schedules liabilities exceeding '000' mes W. Alderdice, a lawyer cond in New York of forgery, was in send to 18 years' imprisonment A. Sing. Spekenhier has been appointed ver of the Commercial bank, of rstown, Ind., on application of dent Frank Mason. The liabilities d $100,000. while the assets are as much less than that amount. ry Walker, aged 18 years, and Worrall, aged 12, were drowned in 'oughiagheny river near McKeesPa. seventh international convention e Epworth league was opened in Coll '. ornado in Texas caused much loss : and destruction of property in gue county and the northern porof the state. Twenty-four are 1 to be dead. five-year-old son of Samuel Squillof Seymour, Ia., and the fourld son of a neighbor, George Bilvere burned to death in a fire destroyed Squillman's home. man Meminger, chief of the Mile (Wis.) fire department, died he effects of injuries sustained at two months ago, when it was re1 he inhaled acid fumes. 1 Ross, who was knocked out by Donnelly in the sixteenth round rize fight at Aberdeen, Wash., is His neck was dislocated and a clot gathered on the brain. e railroad employes were killed vo injured and thousands of dolworth of property destroyed by a n collision on the Fitchburg divi: the Boston & Maine railroad-near isett, Mass. Amasa Cobb, brigadier general unteers during the civil war, vetf the Mexican war, congressman x-justice of the supreme court of ska, died at Los Angeles, Cal, aged S. formal opening of the twenty-secternational Christian Endeavor tion took place in Armory hall, ore, Md., with about 8,000 delepresent. Lucie B. Tyng. one of the best1 temperance workers in the Unittes, died in Peoria. III. new directory indicates Chicago's tion to be 2,272.000. weekly crop report shows that 1 has been retarded by heavy but the 'condition of corn in the elt is excellent money circulation July 1 was the : per capita and in amount in the y of the country. Bank note is1 the past year were larger than w gold increase. : of the Chicago indicted packers, gents and the companies in which are interested have furnished Hanly's crusade against bookS has put an end to horse racing in e uel Thompson, a Chicago coffer er, says the scheme of an eastern to have a tax imposed is a marke' ulation to secure $12,000,000 profit ck. me Stewart's will, dividing an es$500,000 between his widow, chilrothers and sisters, was filed in o Spring Valley (III.) national bank e First national bank of Toluca, sed their doors as the result of the of C. J. Devlin, of Topeka, Kan. Frazer of Chicago, when asked


Article from Vilas County News, July 17, 1905

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ั‚ะตัˆัƒ SBM nun VIOI MONT Paxinosa Inn, a famous summer resort on the summit of Weygadt mountain, near Easton, Pa., was destroyed by fire. Loss, $150,000; insurance, $20,000. Ten deaths and more than forty prostrations are reported in New York as the result of the torrid wave, which is broken by a heavy rainstorm. William Canfield, a Boston aeronaut, was badly injured in making a wild leap of 1,000 feet from a crippled bailoon to lighten it and save his woman companion. The improvidence of the Indians will bring up a grave problem when tne tribal rule is ended, for no provision has been made for schools in the territory. "Big Pietro," a member of the "Black Hand" society was shot and instantly killed and two companions wounded by a saloon-keeper they tried to blackmail in New York. By the explosion of a boiler Engineer Allen Hall, Frank Wallace and Ed Beach was killed at Couch's sawmill at Golightly, Ala., and the plant was completely wrecked. Fire in Detroit has caused $100,000 damage in the factory of the Ireland & Mathews Manufacturing company, makers of plumbers supplies. The loss is coverd by insurance. At Omaha, H. Rudolph, a ladies' tailor, was found dead in a chair in his office by two women customers, who had called for some work. An empty carbolic acid bottle was found. Clark Davis, aged 30, of Farmer City, III., died as a result of having his arm and leg crushed off in a fall from an Illinois Central passenger train. A mob overpowered the sheriff and raided the Ironton, Mo., jail, bent on lynching two murderers, but was beaten back by the prisoners, who were shot. Eight thousand delegates attended the opening session of the twentysecond international annual convention of the Christian Endeavorers at Baltimore. John Wesley Priestly, head of an old Philadelphia family, is said to lived luxuriously for years by means of setting fire to buildings to collect insurance money. The Spring Valley, III., National bank and First National bank OI Toluca, Ill., closed their doors as a result of the failure of C. J. Devlin of Topeka, Kan. Eight men were killed and two injured by the premature exposition of a rock blast on the Pennsylvania Railroad improvements near New Cumberland, Pa. The naming of Gates county, Wisconsin, is said to be a subject of grand jury investigation at Milwaukee, and the methods which led the legislative action may be laid bare. Thomas W. Lawson in an address a: Ottawa, Kan., suggests as a remedy for the evils of "frenzied finance" a general selling out of stocks and bonds to the "system." Edward P. Bacon 0 Milwaukee declared railroads should be compelle to accept at once rates found to be just by the railway commission in place of those held to be unfair. Fourteen prisoners in the jail at Murphysbero, III., attempted to blast their way to freedom by exploding nitreglycerin against the lock-up door. The sheriff and guards prevented their escape.


Article from Ottumwa Tri-Weekly Courier, July 29, 1905

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PAPER IS BAD TOLUCA, ILL., BANKS "GOOD" AS. SETS TOTAL ONLY $110,400. Washington, D. C., July 28. - The comptroller of the currency has received the first report of the receiver of the First National bank of Toluca, Ill., which closed its doors July 5. The assets are as follows: Good-$110,400. Doubtful-$278,200 Worthless-$46,000 with The liabilities are $303,400 $124,000 of individual deposits.


Article from The Cairo Bulletin, August 9, 1905

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HARRY TAGGART APPOINTED RECEIVER FOR TOLUCA BANK Washington, Aug. 8. Harry M. Taggart, of Wenona, III., has been appointed receiver of the first national bank of Toluca, III.


Article from Iowa County Democrat, August 10, 1905

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Receiver for Illinois Bank. Washington, Aug. 9.-Harry M. Tagart of Wenona, III., has been appointed receiver of the First National bank of Toluca, III.


Article from Ottumwa Tri-Weekly Courier, January 2, 1906

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Business Failures Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29-Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 7-Coe Co., Minneapolis; liabilities, $200,000. Apr. 3-Ladoga, Ind., bank; assets $80,000, liabilities $109,000. 24-Canton, O., state bank closes Lexington, Okla., First national bank fails. 26-Barberton O., First national bank Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands. 23-Vicksburg, M h., exchange bank. 26-Knight, Donnelly & Co., Chicago. 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, Ill., national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities, $125,000. 19-Spring Valley, O., bank closes. 20-City national bank. Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 21-Western bank, Louisville, Ky.; due to overloans. Sep. 19-Minot, S. D., national bank closes doors. Oct. 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Chicago. Chicago National, Home Savings and Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank, Memphis, Tenn., close doors; first named in liquidation.


Article from The Montgomery Tribune, January 12, 1906

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Business Failures Jan. 3-First national bank of Faribault, Minn., closed: receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29--Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 7-Coe Co., Minneapolis; liabilities, $200,000. Apr. 3-Ladoga, Ind., bank; assets $80,000, liabilities $109,000. 24-Canton, O., state bank closes Lexington, Okla., First national bank fails. 26-Barberton, O., First national bank Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands. 23-Vicksburg, Mich., exchange bank. 26-Knight, Donnelly & Co., Chicago. 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, Ill., national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities, $125,000. 19-Spring Valley, O., bank closes. 20-City national bank, Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 21-Western bank, Louisville, Ky.: due to overloans. Sep. 19-Minot, S. D., national bank closes doors. Oct. 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Ch'cago. Chicago National, Home SavIngs and Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank, Memphis, Tenn., close doors; first named in liquidation.