4790. Bank of Durand (Durand, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
September 2, 1897
Location
Durand, Illinois (42.436, -89.332)

Metadata

Model
gpt-5-mini
Short Digest
75a2ed88

Response Measures

None

Description

Cashier Charles A. Norton disappeared after forging notes; bank failed to open (Sept 2–3, 1897) and later made an assignment (Sept 15, 1897). No contemporaneous reports describe a depositor run — this is a suspension leading to permanent closure/assignment due to internal fraud.

Events (2)

1. September 2, 1897 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Cashier Norton allegedly forged signatures on numerous notes and absconded, prompting the bank to fail to open its doors (internal embezzlement/crooked work).
Newspaper Excerpt
The Bank of Durand failed to open its doors to-day and Charles A. Norton, cashier and general manager of the institution, has disappeared.
Source
newspapers
2. September 15, 1897 Other
Newspaper Excerpt
The Bank of Durand made an assignment Tuesday in the county court, Joel B. Whitehead of Rockford being named as assignee. No statement of assets or liabilities has been filed.
Source
newspapers

Newspaper Articles (13)

Article from The Indianapolis Journal, September 3, 1897

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Article Text

FLIGHT OF A CASHIER. Wore Three Overcoats, with WellFilled Pockets and Carried a Satehel. ROCKFORD, III., Sept. 2.-The Bank of Durand failed to open its doors to-day and Charles A. Norton, cashier and general manager of the institution, has disappeared. He is said to have forged the names of prominent farmers to twenty-seven notes for various amounts. The bank had deposits of about $30,000, but a time lock is on the safe and it cannot be opened until morning. Norton is thirty-six years of age and was prominent in church and business circles. The bank, a private one, has been running six years anu was about to be reorganzed as a state bank. Norton wore three overcoats with pockets filled, and carried a satchel when he drove away last night.


Article from Rock Island Argus, September 3, 1897

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Article Text

CASHIER LOOTED THE BANK. Durand, Ills,, Has a Sensation of the BankWrecking Sort. Rockford, Ills., Sept. -The Bank of Durand failed to open its doors yesterday and Charles A. Norton, cashier and general manager of the institution, has skipped town, it is believed, taking much, if not all, of the money on hand with him. He forged the names of prominent farmers to twenty-seven notes for various amounts of rediscount paper with the Rockford bank. This led to the discovery of crooked work, and he fled. The bank had deposits of about $30.000. Norton is 36 years old and prominent in church and business circles. The bank is a private one and has been running for six years. It was about to reorganize as a state bank Norton wore three overcoats, the pockets of which were filled. and he carried a sachel when be drove away Wednesday night. The Rockford bank has secured the protection of its claim.


Article from The Morning News, September 3, 1897

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Article Text

HIS PRIVATE KLONDIKE. Banker Norton Loots His Bank and Escapes Heavily Laden. Rockford, Ill., Sept. 2.-The Bank of Durand failed to open its doors to-day and Charles A. Norton, cashier and general manager of the institution, has disappeared. He is said to have forged the names of prominent farmers to twentyseven notes for various amounts. The bank had deposits of about $30,000, but a time lock is on the safe and it cannot be opened until morning. Norton is 36 years old. The bank, a private one, has been running six years, and was about to be reorganized as a state bank. Norton wore three overcoats with pockets filled and carried a satchel when he drove away last night.


Article from The Caucasian, September 9, 1897

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Article Text

Bank's Cashier Gone. ROCKFORD, III., Sept. 2.-The Bank of Durand failed to open it doors today ,and Charles A. Norton, cashier and general manager of the institution has disappeared. He is said to have forged the names of prominent farmere to twenty-seven notes for various amounts. The bank had despoists of about $30,000, but a time-lock is on the safe, and cannot be opened until morning. Norton is thirty-six years old, and was promininent in church and business circles. The bank, a private one, has been running six years, and was about to be reorganized as a State bank. Nortorn wore three overcoats with pockets filled and carried s satchel when be drove away las night.


Article from The Irish Standard, September 11, 1897

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Article Text

A BANK WRECKED. Institution at Durand, III., ClosedCashier Is Missing. Rockford, III., Sept. 3.-The Bank of Durand failed to open its doors Thursday, and Charles A. Norton, cashier and general manager of the institution, has skipped town, it is believed, taking much if not all of the money on hand with him. He is said to have forged the names of prominent farmers to 27 notes for various amounts to rediscount his paper with the Rockford bank. This led to the discovery of alleged crooked work and he fled. The bank had in deposits about $30,000. Norton is 36 years old and is prominent in church and business circles. The bank, a private one, had been running for six years, and was about to be reorganized as a state bank. Norton wore three overcoats with the pockets filled, and carried A satchel when he drove away Wednesday night. The Rockford bank secured protection of its claim of $6,000 by a mortgage from S. A. Blake, father-inlaw of Norton. The village is wildly excited over the affair. One depositor who was in Rockford attending the county fair got a tip on what was coming and drove to Durand, 20 miles, in an hour and a quarter and drew out $4,000 just before it closed.


Article from The Copper Country Evening News, September 15, 1897

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Article Text

Bank of Durand Fails. Rockford, Ills., Sept. 15.-The Bank of Durand made an assignment Tuesday in the county court, Joel B. Whitehead of Rockford being named as assignee. No statement of assets or liabilities has been filed. Geary & Christman, Durand hardware dealers, who were nipped by the failure, also assigned, Scott Montieth being appointed assignee.


Article from The Roanoke Times, September 15, 1897

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Article Text

ANOTHER BANK FAILURE. Rockford, III., Sept. :14.-The Bank of No statement Durand assigned to day. of assets and liabilities has yet been given out.


Article from The Topeka State Journal, September 15, 1897

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Article Text

Two Failures at Rockford. Rockford, Ill., Sept. 15.-The Bank of Durand, Ill., has assigned and the failure of the hardware firm of Beary & Christinan of Durand immediately followed. No statements of assets or liabilities are filed.


Article from The Diamond Drill, September 18, 1897

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Article Text

A tornado struck Port Arthur, Tex., and six people were known to have been killed and many others injured. Buildings were blown down and great damage was wrought. At Sabine Pass ten persons were killed and at other points some lives were lost. Large numbers of coal miners in Pennsylvania and Ohio were returning to work. Paper mills at Appleton, Wis., received orders from Japan for 2,000 tons of print paper. This opens up a market new to American paper manufacturers. A fire at Iron Mountain, Cal., destroyed property belonging to the Mountain Copper company valued at nearly $200,000. The reports as to the condition of the crops throughout the country say that hot weather has given corn a big boost. Ten dead and many injured and the destruction of property and crops worth $250,000 sum up the losses by the hurricane at Port Arthur and Sabine Pass, Tex. S. H. Lanyon, one of the most widelyknown men of southeastern Kansas, dropped dead on the street in Pittsburg. The Bank of Durand, Ill., closed its doors. The mill situation in Rhode Island is better than it has been for five years. Mills are running. on full time. The Midland national bank of Kansas City, Mo., went into voluntary liquidation by resolution of its stockholders. The second national congress of colored women met in Nashville, Tenn. The salmon eatch of the past season has been the largest ever known in the northwest. The eleventh annual convention of the National Association of Builders met in Detroit. It has been decided to change the color of the current two-cent postage stamp from carmine to green of the shade now used on government notes. Yellow fever was said to be spreading in New Orleans and other southern cities.


Article from The Ely Miner, September 22, 1897

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Article Text

THE NEWS. Compiled From Late Dispatches. DOMESTIC. Thomas E. Edison has taken up the study of air ships. He says those already invented are wrong in principle. The twenty-ninth meeting of the Society of the Army of the Tennessee will be held in Milwaukee October 27 and 28. John L. Sullivan announces that he will run for mayor of Boston and that his platform will be to license gambling places and disorderly houses. Rev. Scott Hyatt and wife, Royal McQueen and Miss Mae Tibbetts were drowned in the Cedar river near Waverly, Ia. President McKinley has returned to Washington in good health and spirits from his summer vacation. "Rev." G. F. B. Howard, a noted federal convict, escaped from the state prison at Columbus, O. In an interview in Washington Consul General Lee said that in his opinion the insurgents would eventually win their independence in Cuba without assistance from any outside sources. Trouble broke out at Coxe Bros.' collicry at Eckley, Pa., and troops were sent to the scene. A tornado struck Port Arthur, Tex., and six people were known to have been killed and many others injured. Buildlugs were blown down and great damage was wrought. At Sabine Pass ten persons were killed and at other points some lives were lost. Large numbers of coal miners in Pennsylvania and Ohio were returning to work. Paper mills at Appleton, Wis., received orders from Japan for 2,000 tons of print paper. This opens up a market new to American paper manufacturers. A fire at Iron Mountain. Cal., destroyed property belonging to the Mountain Copper company valued at nearly $200,000. The reports as to the condition of the crops throughout the country say that hot weather has given corn a big boost. Ten dead and many injured and the destruction of property and crops worth $250,000 sum up the losses by the hurricane at Port Arthur and Sabine Pass, Tex. S. H. Lanyon, one of the most widelyknown men of southeastern Kansas. dropped dead on the street in Pittsburg. The Bank of Durand, III., closed its doors. The mill situation in Rhode Island is better than it has been for five years. Mills are running on full time. The Midland national bank of Kansas City, Mo., went into voluntary liquidation by resolution of stockholders. The second national congress of colored women met in Nashville, Tenn. The salmon catch of the past season has been the largest ever known in the morthwest. The eleventh annual convention of the National Association of Builders met in Detroit. It has been decided to change the color of the current two-cent postage stamp from carmine to green of the shade now used on government notes. Yellow fever was said to be spreading in New Orleans and other southern cities. Michael broke the world's 20-mile bicycle record at Springfield, Mass, going the distance in 38:11. President Ratchford has sent out a circular address to the miners declaring the great strike off. It is estimated that the recent hailstorm in the vicinity of Washington, Ia., caused a damage of $300,000. By the fall of a cage in a mine at Nanticoke, Pa., four men were fatally injured and eight others-seriously hurt. A mob of 400 mer lynched Lyle Levi, Bert Andrews, Clifford Gordon, William Jenkins and Hiney Shuler at Versailles, Ind. The men had been arrested for burglary. The steamer Excelsior arrived in San Francisco from Alaska with 63 passengers and about $2,500,000 in gold. An investigation made by Commissioner Jones, of the Indian bureau,


Article from Audubon Republican, September 23, 1897

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Article Text

The News Condensed. Important Intelligence From All Parts. DOMESTIC. Thomas E. Edison has taken up the study of air ships. He says ready invented are wrong meeting The twenty-ninth in of principle. those the So- alciety of the Army of the Tennessee will e held in Milwaukee October 27 and John L. Sullivan announces that he will run for mayor of Boston and that this platform will be to license gambling places and disorderly houses. Rev. Scott Hyatt and wife, Royal McQueen and Miss Mae Tibbetts were drowned in the Cedar river near Waverly, Ia. President McKinley has returned to Washington in good health and spirits from his summer vacation. "Rev." G. F. B. Howard, a noted federal convict, escaped from the state prison at Columbus, O. In an interview in Washington Consul General Lee said that in his opinion the insurgents would eventually win their independence in Cuba without assistance from any outside sources. Trouble broke out at Coxe Bros. colliery at Eckley, Pa., and troops were sent to the scene. F A tornado struck Port Arthur, Tex., and six people were known to have been killed and many others injured. Buildings were blown down and great damage was wrought. At Sabine Pass ten persons were killed and at other points some lives were lost. Large numbers of coal miners in Pennsylvania and Ohio were returning to work. Paper mills at Appleton, Wis., received orders from Japan for 2,000 tons of print paper. This opens up a market new to American paper manufacturers. A fire at Iron Mountain, Cal., destroyed property belonging to the Mountain Copper company valued at nearly $200,000. The reports as to the condition of the crops throughout the country say that hot weather has given corn a big boost. Ten dead and many injured and the destruction of property and crops worth $250,000 sum up the losses by the hurricane at Port Arthur and Sabine Pass, Tex. S. H. Lanyon, one of the most widelyknown men of dead on dropped southeastern the street in Kansas, Pittsburg. The Bank of Durand, Ill., closed its doors. The mill situation in Rhode Island is better than it has been for five years. Mills are running on full time. The Midland national bank of Kansas City, Mo., went into voluntary liquidation by resolution of its stockholders. The second national congress of colored women met in Nashville, Tenn. The salmon catch of the past season has been the largest ever known in the northwest. The eleventh annual convention of the National Association of Builders met in Detroit. It has been decided to change the color of the current two-cent postage stamp from carmine to green of the shade now used on government notes. 1 Yellow fever was said to be spreading in New Orleans and other southern cities. Michael broke the world's 20-mile bicycle record at Springfield, Mass, going the distance in 38:11. President Ratchford has sent out a circular address to the miners declaring the great strike off. 1 It is estimated that the recent hailstorm in the vicinity of Washington, Ia., caused a damage of $300,000. at Tramps caused an $80,000 fire Moorhead, Minn. By the fall of a cage in a mine at Nanticoke, Pa., four men were fatally injured and eight others seriously hurt. A mob of 400 mer lynched Lyle Levi, Bert Andrews, Clifford Gordon, William Jenkins and Hiney Shuler at Versailles, Ind. The men had been arrested for burglary. The steamer Excelsior arrived in San Francisco from Alaska with 63 passengers and about $2,500,000 in gold. An investigation made by Commissioner Jones, of the Indian bureau, shows that there are only 68 insane Indians in the country. Postmaster General Gary is devoting considerable attention to an investigation of the wisdom of establishing postal savings banks. Domestic exports for the eight months ended August 31 last amounted to $629,434,371, an increase of $62,217, 387 over last year. The farmers along Taylor's bayou in Jefferson county, Tex., lost $150,000 by the destruction of the rice crop in the recent hurricane. Seymour Bros., stock brokers in New York, with offices in various cities in the country, failed for $1,000,000. Reports reaching the Marine hospital service in Washington from officials in Louisiana and Mississippi leave no further doubt as to the fact that yellow fever exists at several points in those states.


Article from The L'anse Sentinel, September 25, 1897

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Article Text

The News Condensed. Important Intelligence From All Parts. DOMESTIC. Thomas E. Edison has taken up the study of air ships. He says those already invented are wrong in principle. The twenty-ninth meeting of the Society of the Army of the Tennessee will be held in Milwaukee October 27 and 28. John L. Sullivan announces that he will run for mayor of Boston and that his platform will be to license gambling places and disorderly houses. Rev. Scott Hyatt and wife, Royal McQueen and Miss Mae Tibbetts were drowned in the Cedar river near Waverly, Ia. President McKinley has returned to Washington in good health and spirits from his summer vacation. "Rev." G. F. B. Howard, a noted federal convict, escaped from the state prison at Columbus, O. In an interview in Washington Consul General Lee said that in his opinion the insurgents would eventually wio their independence in Cuba without assistance from any outside sources. Trouble broke out at Coxe Bros.' colliery at Eckley, Pa., and troops were sent to the scene. A tornado struck Port Arthur, Tex., and six people were known to have been killed and many others injured. Build ings were blown down and great damage was wrought. At Sabine Pass ten persons were killed and at other points some lives were lost. Large numbers of coal miners in Pennsylvania and Ohio were returning to work. Paper mills at Appleton, Wis., received orders from Japan for 2,000 tons of print paper. This opens up a market new to American paper manufacturers. A fire at Iron Mountain. Cal., destroyed property belonging to the Mountain Copper company valued at nearly $200,000. The reports as to the condition of the crops throughout the country say that hot weather has given corn a big boost. Ten dead and many injured and the destruction of property and crops worth $250,000 sum up the losses by the hurricane at Port Arthur and Sabine Pass. Tex. S. H. Lanyon, one of the most widelyknown men of southeastern Kansas. dropped dead on the street in Pittsburg. The Bank of Durand, III., closed its doors. The mill situation in Rhode Island is better than it has been for five years. Mills are running on full time. The Midland national bank of Kansas City, Mo., went into voluntary liquidation by resolution of its stockholders. The second national congress of colored women met in Nashville, Tenn. The salmon catch of the past season has been the largest ever known in the northwest. The eleventh annual convention of the National Association of Builders met in Detroit. It has been decided to change the color of the current two-cent postage stamp from carmine to green of the shade now used on government notes. Yellow fever was said to be spreading in New Orleans and other southern cities. Michael broke the world's 20-mile bicycle record at Springfield, Mass, going the distance in 38:11. President Ratchford has sent out a circular address to the miners declaring the great strike off. It is estimated that the recent hailstorm in the vicinity of Washington, Ia., caused a damage of $300,000. Tramps caused an $80,000 fire at Moorhead. Minn. By the fall of a cage in a mine at Nanticoke, Pa., four men were fatally injured and eight others seriously hurt. A mob of 400 mer lynched Lyle Levi. Bert Andrews, Clifford Gordon, William Jenkins and Hiney Shuler at Versailles, Ind. The men had been arrested for burglary. The steamer Excelsior arrived in San Francisco from Alaska with 63 passengers and about $2,500,000 in gold. An investigation made by Commissioner Jones, of the Indian bureau, shows that there are only 68 insane Indians in the country. Postmaster General Gary is devoting considerable attention to an investigation of the wisdom of establishing postal savings banks. Domestic exports for the eight months ended August 31 last amounted to $629,434,371, an increase of $62,217,387 over last year. The farmers along Taylor's bayou in Jefferson county, Tex., lost $150,000 by the destruction of the rice crop in the recent hurricane. Seymour Bros., stock brokers in New York, with offices in various cities in


Article from The Representative, September 29, 1897

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MORE GOOD TIMES. ROCKFORD, Ill., Sept. 14.-The bank of Durand, Ill., assigned today and the failure of the hardware firm of Geary & Christian, of Durand, immediately followed. No statements of assets or liabilities was filed. NEW YORK, Sept. 15.-Seymour Bros., grain brokers, this city, assigned today. The firm had offices in various parts of the country. The firm's standing was good and it is said to have done a large business. The assignees said it would be impossible to give an estimate of the assets and liabilities until an inventory had been taken. It is reported, however, that the liabilities may reach nearly $1,000,000. It is said that the firm's failure was caused by heavy dealings in wheat.