4794. First National Bank (East Dundee, IL)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
5638
Charter Number
5638
Start Date
November 22, 1903
Location
East Dundee, Illinois (42.099, -88.271)

Metadata

Model
gpt-5-mini
Short Digest
deda5e6e

Response Measures

None

Description

The bank suspended operations Nov 22–23, 1903 after discrepancies/embezzlement in the books; a national bank examiner/receiver (D. A. Cook) was appointed. No contemporaneous articles describe a depositor run. The Comptroller later authorized resumption of business (Mar 11, 1904).

Events (5)

1. December 13, 1900 Chartered
Source
historical_nic
2. November 22, 1903 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors found discrepancies in the bank's accounts; later investigations revealed alleged embezzlement by cashier Francis (D.) Wright of about $60,000.
Newspaper Excerpt
Notices were posted on the doors of the First National Bank of Dundee, Ill., tonight notifying depositors that the institution would not open for business to-morrow. The suspension was decided on at a meeting of the directors held to-day, when it is said discrepancies were found in the accounts.
Source
newspapers
3. November 23, 1903 Receivership
Newspaper Excerpt
D. A. Cook, national bank examiner, has been appointed receiver. The comptroller of the currency ... ordered the doors to remain closed until the arrival of a bank examiner from Chicago.
Source
newspapers
4. December 1, 1903 Other
Newspaper Excerpt
Charged with embezzlement of $60,000 from the First National bank of Dundee, Ill., which closed its doors Nov. 22, Cashier Francis B. Wright has been arrested on complaint of Receiver David A. Cook and brought to Chicago.
Source
newspapers
5. March 11, 1904 Reopening
Newspaper Excerpt
The Controller of the Currency has authorized the First National Bank of Dundee, Ill., to resume business, and has instructed the receiver to surrender to the board of directors all the assets of the bank in his possession.
Source
newspapers

Newspaper Articles (19)

Article from The Indianapolis Journal, November 23, 1903

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Article Text

ILLINOIS BANK CLOSED. Discrepancies in Accounts Affects Institution at Dundee. CHICAGO, Nov. 22.-Notices were posted on the doors of the First National Bank of Dundee, III., to-night notifying depositors that the institution would not open for business to-morrow. The suspension was decided on at a meeting of the directors held to-day, when it is said discrepancies were found in the accounts. The exact difficulty is not known, as none of the officlals would talk for publication to-night. The controller of the currency has been notified of the state of affairs and a bank examiner will take charge of the books to-morrow morning. No rumors of insolvency have been heard, so it is believed that the institution will be opened for business as soon as the accounts are straightened. The bank is capItalized at $50,000 and carries deposits of $150,000.


Article from The Daily Morning Journal and Courier, November 23, 1903

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Article Text

DUNDEE, ILL., BANK CLOSES. Discrepancies Induce Directors to Give Notice of Suspension. Chicago, Nov. 22.-Notices were posted on the doors of the First National bank of Dundee, III., to-night, notifying depositors that the institution would not open for business to-morrow. The suspension was decided upon at a meeting of the directors to-day when it is said discrepancies were found in the accounts. The exact difficulty is not known. The comptroller of the currency has been notified and the bank examiner will take charge of the books to-morrow. It is believed that the institution will be opened for business as soon as the accounts are straightened. The bank is capitalized for $50,000 and carries deposits of $150,000.


Article from Arizona Republican, November 23, 1903

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Article Text

THE ACCOUNTS CROOKED. An Illinois Bank Will Take Time to Straighten Them. Chicago, Nov. 22.-A notice posted on the doors of the First National bank of Dundee, III., tonight informed the depositors that the bank would not open for business tomorrow. The suspension was decided at a meeting of the directors today, when it is said discrepancies were found in the accounts. Bank examine's will take charge. It is believed that the institution will be reopened for business as soon as the accounts are straightened out. The bank carries deposits of $150.000.


Article from The Savannah Morning News, November 23, 1903

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Article Text

DISCREPANCIES FOUND IN BANK'S ACCOUNTS Chicago, Nov. 22.-Notices were post. ed on the doors of the First National Bank of Dundee, Ill., to-night, notify. ing depositors that the institution would not open for business to-mor. row. The suspension was decided up. on at a meeting of the directors to. day, when it is said discrepancie: were found in the accounts. The bank is capitalized for $50,000 and car ries deposits of $150,000.


Article from The Birmingham Age-Herald, November 23, 1903

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Article Text

Illinois Bank Goes Under. Chicago, November 22.-Notices were posted on the doors of the First National Bank of Dundee, Ill., tonight notifying the depositors that the institution would not open for business tomorrow. The suspension was decided upon at a meeting of the directors today, when, it is said, discrepancies were found in the accounts. The bank is capitalized for $50,000, and carries deposits of $150,000.


Article from The Sun, November 24, 1903

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Article Text

An Illinois National Bank Closed. DUNDEE, Ill., Nov. 23.-The First National Bank of Dundee, with a capital stock of $50,000 and deposits of $150,000. is in the hands of a bank examiner. and until some alleged discrepancies in the books are untangled the business of the institution will be suspended. What conditions brought about the closing. none of the officers would say. There was a meeting of the directors last night and a telegram was sent to the Comptroller of the Currency in Washington, who ordered the doors to remain closed until the arrival of a bank examiner from Chicago.


Article from The Indianapolis Journal, November 24, 1903

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Article Text

ILLINOIS BANK CLOSED. Receiver Appointed for the First National of Dundee. WASHINGTON, Nov. 23.-The controller of the currency has been advised that the First National Bank, Dundee, III., did not open for business this morning. D. A. Cook, national bank examiner, has been appointed receiver. Following is a statement of the bank's condition, as shown by its report of Sept. 9: Resources-Loans and discounts, $162,931; United States bonds, $25,000; premium on bonds, $2,000; real estate, $12,392; due from banks and bankers, $11,175; cash and cash items, $10,888; total, $224,387. Liabilities-Capital stock, $70,000; úndivided profits, $6,165; circulation, $25,000; deposits, $143,222; total, $224,387.


Article from The Saint Paul Globe, November 24, 1903

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Article Text

Illinois Bank Closes Doors. CHICAGO, Nov. 23.-Notices were posted on the doors of the First National Bank of Dundee, Ill., tonight, notifying depositors that the institution would not open for business tomorrow. The suspension was decided upon at a meeting of the directors today, when it is said discrepancies were found in the accounts. The exact difficulty is not known, as none of the officials would talk for publication tonight. The comptroller of the currency has been notified of the state of affairs and the bank examiner will take charge of the affairs tomorrow. No rumors of insolvency have been heard, so it is believed the institution will be opened for business as soon as its affairs are straightened out. The bank is capitalized for $50,000 and carries deposits of $150,000.


Article from The Topeka State Journal, November 24, 1903

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Article Text

Rome, Nov. 24.-The report that the congregation of the propaganda has decided to propose to the pope the appointment of Bishop Messmer, of Green Bay, Wis., as archbishop of Milwaukee, in succession to the late Archbishop Katzer, is confirmed. New York, Nov. 24.-Julian Walbridge Rix, the well known painter of Californian mountain scenery, died in this city today. / London, Nov. 24.-There is no truth in the rumors that the house of the late Duke of Richmond, in Belgrade square, will be purchased for the U.S. embassv. I Grand Rapids, Mich., Nov. 24.-Mr. and Mrs. George Smith, 60 years of age, were burned to death today in a fire which entirely consumed their home. The couple lived alone outside of the city limits. The fire was discovered by neighbors, but before any help could be rendered the old people the building collapsed. / Des. Moines, Ia., Nov. 24.-T. N. Hooper, general agent of the Colfax & Northern railroad and formerly assistant superintendent of the Great Northern, died here early today. ---Washington, Nov. 24.-The comptroller of the currency was advised today that the First National bank of Dundee, III., would not open for business today. D. A. Cook was appointed receiver. The deposits amount to $143,000 and the total resources are given as $224,000. Washington, Nov.24.-W. H. Summers, United States attorney for the district of Nebraska, was at the department of justice today and had a conference with Assistant Attorney General Purdy regarding the indictment now pending against United States Senator Dietrich. Summers, who is here at his own request presented to Mr. Purdy the substance of the testimony presented to the grand jury which resulted in Dietrich's indictment. Washington, Nov. 24.-Represcntative Fitzpatrick, (Tenn.), who was taken to the emergency hospital last night, is reported better today. The physicians say he is suffering from heart trouble, but will be out in two or three days. I Stavanger, Norway, Nov.24.-The Norwegian steamer Victoria was stranded during last night's storm off this port. No attempts to rescue the crew were possible. Five bodies have been washed ashore and some persons are still clinging to the masts of the vessel.


Article from The Free Lance, November 26, 1903

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Article Text

Illinois Bank Closed. Chicago, Nov. 23. - Notices were posted on the doors of the First National Bank of Dundee, III., notifying depositors that the institution would not open for business. The suspension was decided upon at a meeting of the directors, when, it is said, discrepancies were found in the accounts. The exact difficulty is not known, as none of the officers would talk for publication. The comptroller of the currency has been notified of the state of affairs and the bank examiner will take charge of the books. The bank is capitalized at $50,000 and carries deposits of $150.000.


Article from Evening Times-Republican, November 26, 1903

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Article Text

DUNDEE (ILL.) BANK CLOSES. Receiver Is Appointed for First National-Liabilities, $224,387. Washington, Nov. 26.-The comptroller of the currency has been advised that the First National Bank of Dundee, Ill., would not open for business yesterday morning. D. A. Cook, national bank examiner, has been appointed a receiver. According to a statement of the bank's condition, as shown by its report of Sept. 9, its resources amount to $24,387 and its llabilities to $224,387.


Article from The Intermountain Catholic, November 28, 1903

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Article Text

Washington, Nov. 23.-The controller of the currency was advised today that the First National bank of Dundee, Ills., would not open for business today. D. A. Cook was appointed receiver. The deposits amount to $143,000 and the total resources are given as $224,000.


Article from Waterbury Evening Democrat, December 1, 1903

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Cashier Arrested For Fraud. CHICAGO, Dec. 1. - Charged with embezzlement of $60,000 from the First National bank of Dundee, Ill., which closed its doors Nov. 22, Cashier Francis B. Wright has been arrested on complaint of Receiver David A. Cook and brought to Chicago.


Article from Alexandria Gazette, December 1, 1903

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BANK CASHIER ARRESTED-Charged with embezzlement of $60,000 from the First National Bank of Dundee, Ill., which closed its doors November 22, Cashier Francis B. Wright was arrested yesterday on complaint of Receiver David A. Cook and taken to Chicago. The warrant, issued by United States Commissioner Foote, charges Wright with having wrongfully appropriated this amount of money between June 1, 1901, and November 21, 1903. Wright's arrest was not a surprise, as he has been under surveillance since the institution tailed. Since that time Bank Examiner Cook has been looking into the books of the institution. Wright was arraigned before Commissioner Foote last night, but waived examination. His bonds were fixed at $20,000, but he was unable to furnish a bondsman for the amount, and was sent to the county jail.


Article from The Washington Times, December 1, 1903

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ILLINOIS CASHIER HELD ON A SERIOUS CHARGE Francis D. Wright Accused of Embezzling $60,000 From a Dundee Bank. CHICAGO, Dec. 1.-Cashier Francis D. Wright, of the First National Bank of Dundee, has been arrested on the charge of embezzling $60,000. The bank closed its doors November 22. Receiver David A. Cook is the complaining witness against Wright. The warrant, issued by United States Commissioner Foote, charges Wright with wrongfully appropriating the money between June 1, 1901, and November 21, 1903. Wright was arraigned before the commissioner last evening, but waived examination. His bond was fixed at $20,000, but as he said he was unable to provide it he was sent to the Cook county jail.


Article from Evening Journal, December 1, 1903

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Embezzied $60,000. Chicago, Dec. 1.-Charged with embezzlement of $60,000 from the First National Bank of Dundee, III., which closed its doors November 22, Cashier Francis B. Wright was arrested here on complaint of Receiver David A. Cook and brought to Chicago. The warrant, issued by United States Commissioner Foote, charges Wright with having wrongfully appropriated this amount of money between June 1, 1901, and November 21, 1903. Wright's arrest was not a surprise, as he has been under surveillance since the institution failed.


Article from The Savannah Morning News, December 1, 1903

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WAS SHORT $60,000. Cashier Francis B. Wright Was Arrested and Jailed. Chicago, Nov. 30.-Charged with embezzlement of $60,000 from the First National Bank of Dundee, Ill., which closed its doors Nov. 22, Cashier B. Wright was arrested to-day on complaint of Receiver David A. Cook, and brought to Chicago. Wright was arraigned before Commissioner Foote to-night, but waived examination. His bonds were fixed at $20,000, but he was unable to furnish a bondsman for the amount and was sent to the county jail.


Article from Vilas County News, December 7, 1903

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ALLEGED BANK WRECKER IN JAIL IN CHICAGO Chicago, Dec. 1.-Charged with the embezzlement of $60,000 from the First National bank of Dundee, III., which closed its doors November 22, Cashier Francis B. Wright was arrested yesterday on complaint of Receiver Cook and brought to Chicago. Wright was arraigned before Commissioner Foote last night, but waived examination. His bonds were fixed at $20,000, but he was unable to furnish bondsman for that amount and was sent to jail.


Article from The Penn's Grove Record, March 11, 1904

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Article Text

Bank to Resume Business. The Controller of the Currency has authorized the First National Bank of Dundee, III., to resume business, and has instructed the receiver to surrender to the board of directors all the assets of the bank in his posses sion.