4695. First National Bank (Winchester, IL)

View Charter #1484 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
1484
Charter Number
1484
Start Date
October 10, 1877
Location
Winchester, Illinois (39.630, -90.456)

Metadata

Model
gpt-5-mini
Short Digest
5536d53422774f5f

Response Measures

None

Receivership Details

Depositor recovery rate
63.6%
Date receivership started
1877-03-16
Date receivership terminated
1881-07-23
OCC cause of failure
Losses
Share of assets assessed as good
31.8%
Share of assets assessed as doubtful
31.0%
Share of assets assessed as worthless
37.2%

Description

Newspaper items (Oct 1877 and Apr 1878) report the First National Bank of Winchester, Ill., is in the hands of receivers and that the Comptroller of the Currency declared dividends to creditors (10% then later another making totals reported as 20% and 40% in different notices). This indicates the bank had failed and was under receivership (closure). No articles describe a run preceding suspension; therefore classified as suspension_closure.

Events (4)
1. July 25, 1865 Chartered
Source
historical_nic
2. March 16, 1877 Receivership
Source
historical_nic
3. October 10, 1877 Receivership
Newspaper Excerpt
The Comptroller of the Currency has declared a dividend of 10 per cent to the creditors of the First National Bank of , Winchester, Illinois, making in all the dividends 20 per cent.
Source
newspapers
4. April 12, 1878 Receivership
Newspaper Excerpt
The comptroller of the currency has declared dividends in favor of creditors of national banks in the hands of receivers ... First National bank of Winchester, Ill., 10 per cent., making in all 40 per cent.
Source
newspapers

Newspaper Articles (4)
1. October 10, 1877 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, October 10, 1877

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Article Text

1 WASHINGTON. Revenue Indictments. / WASHINGTON, October 0.-Fourteen to. bacco manufacturers were indicted in the 3 U. S. Circuit Court, at Greensboro, N.C., for reissuing, altering, forging and conne terfeiting tobacco stamps. They pleaded guilty and sentence was suspended till next term. 1 Secretary Thompson was at the Navy Department to-day. ) Alex. II. Stephens had a talk today with the President. CABINET MEETIN&. At the Cabinet session to-day the Presito on was dent's Thursday visit next, the Frederick, spoken Md., of. Fair Sec. retaries McCrary and Thompson and Attorney General Devens will accompany him. The President signed the commission of Robert Sanderson as U.S. Attorney for Montana. DIVIDEND DECLARED. The Comptroller of the Currency has declared a dividend of 10 per cent to the creditors of the First National Bank of , Winchester, Illinois, making in all the dividends 20 per cent. THE VACANT SUPREME JUDGESHIP. f It is well understood that the President has decided on an appointment to the V2cant Supreme Judgeship, but the an: nouncement will not be made until after ) the organization of Congress. The Quartermaster General, in a com munication just published, says that por tions of the roof of the Capitol and a large portion of that of the General Postoffice are liable to a conflagration.

2. October 10, 1877 The Wheeling Daily Register Wheeling, WV
Article from The Wheeling Daily Register, October 10, 1877

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Article Text

Washington Items. WASHINGTON, October 9-Fourteen tobacco manufacturers, indicted in the United States Circuit Court at Greens boro, North Carolina, for reissuing, altering, forging and counterfeiting tobacco stamps, plead guilty, and the sentence was suspended till next term At the Cabinet session to-day, the President's visit to the Frederick, Md. Fair on Thursday next, was spoken of Secretaries McCrary and Thompson and Attorney-General Devens will accompany him. The President has signed the commission of Robert 8. Anderson, United States Attorney for Montans The Comptroller of the Currency has declared a dividend of 10 per cent to the creditors of the First National Bank of Winchester, Ills, making in all N dividend of 20 per cent. It is well understood that the President has decided on an appointment to the vacant Supreme Judgeship, but the announcement will not be made until after the organization of Congress The Quartermaster-Ginneral, in a communication just published, says portions of the roof of the capital and a large portion of that of the general postoffice are hable to conflagration

3. April 13, 1878 Daily Globe Saint Paul, MN
Article from Daily Globe, April 13, 1878

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Article Text

Miscellaneous. WASHINGTON, April 12.-The House committee on naval affairs agreed to report a bill applying $850,000 for purchasing and testing various torpedoes in existence. The House judiciary committee decided to report adversely on Representative Frye's bill referring to the court of claims all claims pending in the sevoral departments. The committee agreed to report favorably the bill exempting postal employes from serving as jurors; also the bill amendatory of the revised statutes 50 as to permit the appointment of an additional assistant attorney general in the post office departments. Senator Thurman's Pacific railroad funding bill was discussed. It was agreed by the committee that no objection would be interposed against a motion to take the bill from the speaker's table and bring it before the House for immediate action, but if that was refused a motion would be made to refer the measure to the juciciary committee. The House committee on Pacific railroads decided to report to the House sinking fund measures, which, though not identical with the same bill. does not differ from it materially. Secretary Evarts returned to-day with his invalid son, who was 50 ill he had to be carried into the house. The committee on territories has decided to limit the examination into the funds of the five Indian nations in the Indian Territory to the school and orphans' funds. Mamea, the Samoan ambassador, took formal leave of the President to-day. A United States steamer will await the ambassador at Panama, and corvey him home and make a survey for the purpose of selecting a naval depot, ceded under the recent treaty of amity and commerce. The comptroller of the currency has declared dividends in favor of creditors of national banks in the hands of receivers, as follows: First National bank of Franklin, Ind., 20 per cent., making in all 40 percent.; First National bank of Winchester, Ill., 10 per cent., making in all 40 per cent. Mamea, the Samoan ambassador, does not credit the report that England has seized Samoa. Subsreiptions to the new loan to-day, $125,000. The secretary of the navy left Washington this morning for Terre Haute, to be absent abont two weeks. Prof. Henry, of the Smithsonian institute, reports the director of the Paris observatory announces the discovery by Coggia, at Marseilles, on the 9th of April, of a planet of the tenth magnitude, 12 hours. 35 minutes right n ascension, 90 degrees, 57 minutes declination with a daily motion of two minutes.

4. April 13, 1878 New-York Tribune New York, NY
Article from New-York Tribune, April 13, 1878

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Article Text

WASHINGTON NOTES. WASHINGTON, Friday, April 12. 1878. The subscriptions to the new loan to-day were $125,000. The House Committee on Patents to-day further considered the bill providing for a general revision of existing patent laws, but reached no definite conclusion thereon. Henry F. Gilley, principal of the American Exchange at London, had an interview with the Presinent to-day. and met with a cordial reception from other prominent gentlemen in official circles. Representative Hiram P. Bell, of Georgia, appeared before the House Committee on Coluage. Weights and Measures to-day in behalf of the establishment of a branch mint at Athens, Ga. The Secretary of the Navy left Washington this morning for Terre Haute, to be absent about two weeks Rear Admiral Howell is Acting Secretary of the Navy in the absence of Secretary Thompson. The House Committee on Naval Affairs to-day agreed to report a bill appropriating $250,000 to be expended in purchasing and testing the various terpedoes in existence, with a view of reaching a conclusion as to the best quality manufactured. The Controller of the Currency has declared dividends in favor of creditors of National Banks in the hands of receivers as follows: Watkins National Bank, Watkins, N. Y., 1212 per cent, making in all 100 per cent: First National Bank, Franklin. Ind.. 20 per cent, making in all 45 per cent; First National Bank of Winchester, III., 10 per cent. making in all 40 per cent.