4815. Bank of Elkhart (Elkhart, IL)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
March 3, 1902
Location
Elkhart, Illinois (40.021, -89.483)

Metadata

Model
gpt-5-mini
Short Digest
cdfd9303

Response Measures

None

Description

Articles (both 1902-03-03) report the Bank of Elkhart failed to open after a bank examiner's investigation; a shortage was suspected but the president insisted assets cover liabilities and depositors would be paid. No run is mentioned and no receivership or permanent closure is reported; likely a temporary suspension with intent to reopen.

Events (1)
1. March 3, 1902 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Investigation by bank examiner revealed a shortage; exact amount unknown but shortage prompted failure to open/suspension.
Newspaper Excerpt
The Bank of Elkhart failed to open its doors for business this morning, following an investigation by the bank examiner.
Source
newspapers

Newspaper Articles (2)
1. March 3, 1902 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, March 3, 1902

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Article Text

ELKHART BANK CLOSED. Suspension Thought to Be the Result of a Shortage. Elkhart, Ill., March 3.-The Bank of Elkhart failed to open its doors for business this morning, following an investigation by the bank examiner. The deposits are $80,000. The exact amount of the shortage is not known. President Taylor states the assets fully cover all liabilities and depositors will receive every dollar on.deposit.

2. March 3, 1902 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, March 3, 1902

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Article Text

BANK OF ELKHART, ILL., SUSPENDS OPERATIONS Elkhart, III. March 3.-The Bank of Elkhart failed to open its doors for business this morning following an investigation by the bank examiner. The deposits are $80,000. The exact amount of the shortage is not known. but President Taylor states the assets will fully cover the liabilities, and depositors will receive every dollar on deposit.