4882. Mississippi Valley Banking Company (Grand Tower, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 9, 1908
Location
Grand Tower, Illinois (37.626, -89.498)

Metadata

Model
gpt-5-mini
Short Digest
42294c16

Response Measures

None

Description

Multiple contemporary newspaper reports (Feb 1908) state the Mississippi Valley Banking Company of Grand Tower is now in the hands of a receiver. Articles describe a conspiracy to defraud involving its president (James S. Nall) and another man; no mention of depositor runs or reopening. Cause classified as bank-specific adverse information (fraud). Exact suspension date not given; receivership reported in early February 1908.

Events (2)
1. February 9, 1908 Receivership
Newspaper Excerpt
which institution is now in the hands of a receiver.
Source
newspapers
2. February 9, 1908 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Institution placed in receivership after discovery of a conspiracy to defraud; president James S. Nall implicated in frauds and later sentenced.
Newspaper Excerpt
Nall was president of the Mississippi Valley Banking company of Grand Tower, this county, which institution is now in the hands of a receiver.
Source
newspapers

Newspaper Articles (6)
1. February 10, 1908 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, February 10, 1908

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Article Text

CONSPIRACY TO DEFRAUD Two Kentuckians With a Scheme to Fleece the Suckers Sent to Illinois Prison. Murphysboro, III., Feb. 9.-W. B. Smith and James S. Nall of Henry county, Kentucky, were sentenced to the penitentiary for a term not to exceed five years in the circuit court here yesterday, for conspiracy to defraud the Elkville (III.) State bank of $5,192. Nall was president of the Mississippi Valley Banking company of Grand Tower, this county, which institution is now in the hands of a receiver. It was charged that Smith came to Jackson county and organized a state bank in Elkville, which had scarcely been opened when Smith and confederates in the south began to flood It with overdrafts and false drafts. Smith installed Nallas president of the bank. Smith was once president of the largest bank in Louisville, Ky. A fine of $2,000 was assessed against Smith in addition to the prison sentence.

2. February 10, 1908 The Seattle Star Seattle, WA
Article from The Seattle Star, February 10, 1908

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Article Text

MUST GO TO JAIL (By United Press.) MURPHYSBÓRO, III, Feb. 10.W. B. Smith and James S. Nall, of Henry county, Kentucky, have been sentenced to the penitentiary for a term not to exceed five years, in the circuit court here, for conspiracy to defraud the Elkville (Ills.) State bank of $5,192. Nall was president of the Mississippi Valley Banking company, of Grand Tower, this county, 'which institution is now in the hands of a receiver.

3. February 13, 1908 The Dakota Chief Gann Valley, SD
Article from The Dakota Chief, February 13, 1908

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Article Text

TWO BANKERS TO PRISON. Southerners Caught in Daring Fraud at Murphysboro, III. W. B. Smith and James S. Nall, of Henry county, Ky., were sentenced to the penitentiary for a term of not to exceed five years in circuit court at Murphysboro, III., Saturday for conspiracy to defraud the Elkville, III., State bank of $5,192. Nall was president of the Mississippi Valley Banking company, of Grand Tower, this county. which institution is now in the hands of a receiver. It was charged that Smith came to Jackson county and organized a state bank at Elkville, which had scarcely been opened when Smith and confederates in the south began to flood it with overdrafts and false drafts. Smith installed Nall as president of the bank. Smith was once president of the largest bank in Louisville, Ky. A fine of $2.000 was assessed against Smith in addition to the prison sentence.

4. February 14, 1908 The Charles Mix New Era Wagner, SD
Article from The Charles Mix New Era, February 14, 1908

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Article Text

# TWO BANKERS TO PRISON. Southerners Caught in Daring Fraud at Murphysboro, Ill. W. B. Smith and James S. Nall, of Henry county, Ky., were sentenced to the penitentiary for a term of not to exceed five years in circuit court at Murphysboro, Ill., Saturday for conspiracy to defraud the Elkville, Ill., State bank of $5,192. Nall was president of the Mississippi Valley Banking company, of Grand Tower, this county, which institution is now in the hands of a receiver. It was charged that Smith came to Jackson county and organized a state bank at Elkville, which had scarcely been opened when Smith and confederates in the south began to flood it with overdrafts and false drafts, Smith installed Nall as president of the bank. Smith was once president of the largest bank in Louisville, Ky. A fine of $2,000 was assessed against Smith in addition to the prison sentence.

5. February 14, 1908 Dakota Farmers' Leader Canton, SD
Article from Dakota Farmers' Leader, February 14, 1908

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Article Text

TWO BANKERS TO PRISON. Southerners Caught in Daring Fraud at Murphysboro, III. W. B. Smith and James S. Nall, of Henry county, Ky., were sentenced to the penitentiary for a term of not to exceed five years in circuit court at Murphysboro, III., Saturday for conspiracy to defraud the Elkville, Ill., State bank of $5,192. Nall was president of the Mississippi Valley Banking company, of Grand Tower, this county, which institution is now in the hands of a receiver. It was charged that Smith came to Jackson county and organized a state bank at Elkyille, which had scarcely been opened when Smith and confederates in the south began to flood It with overdrafts and false drafts. Smith installed Náll as president of the bank. Smith was once president of the largest bank in Louisville, Ky. A fine of $2,000 was assessed against Smith in addition to the prison sentence.

6. February 14, 1908 The Wageworker Lincoln, NE
Article from The Wageworker, February 14, 1908

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Article Text

BANKERS GO TO PENITENTIARY. Two Kentucky Men Sentenced to Five-Year Terms. W. B. Smith and James S. Nail of Henry county, Kentucky, were sencensed to the penitentiary for a term of not to exceed five years in circuit court for conspiracy to defraud the Elkville, Ill., state bank of $5,192. Nall was president of the Mississippi Valley Banking company of Grand Tower, III., which institution is now in the hands of a receiver. It was charged that Smith came to Jackson county and organified a state bank at Elkville which had scarcely been opened when Smith and confederates in the south began to flood it with overdrafts and false drafts. Smith installed Nall as president of the bank. Smith was once president of the largest bank in Louisville, Ky. A fine of $2,000 was assessed against Smith, in addition to the prisen sentence.