4909. Montgomery County Loan & Trust Company (Hillsboro, IL)

Bank Information

Episode Type
Run Only
Bank Type
trust company
Start Date
December 28, 1881
Location
Hillsboro, Illinois (39.161, -89.494)

Metadata

Model
gpt-5-mini
Short Digest
58593781

Response Measures

Accommodated withdrawals

Description

Multiple contemporary newspaper reports (Dec 28–29, 1881) describe a run on the Montgomery County Loan & Trust Company in Hillsboro, IL that paid out about $90,000 and then confidence was restored. The run was triggered by the suspension/failure of Haskell, Harris & Co. There is no mention of the Montgomery company suspending or closing; it appears to have remained open.

Events (1)
1. December 28, 1881 Run
Cause
Local Banks
Cause Details
Run triggered by the suspension of the local banking house Haskell, Harris & Co. in Hillsboro.
Measures
Paid out approximately $90,000 to depositors; confidence subsequently restored.
Newspaper Excerpt
yesterday a run was made on another bank in the town, the Montgomery County Loan and Trust company, and $90,000 are said to have been paid out by it, when confidence was restored.
Source
newspapers

Newspaper Articles (8)
1. December 28, 1881 Press and Daily Dakotaian Yankton, SD
Article from Press and Daily Dakotaian, December 28, 1881

Click image to open full size in new tab

Article Text

Suspicious Banks. St. Louis, December 28-Wm. A. Young, one of the directors of the suspended banking house of Haskell, Harris & Co., of Hillsboro, Ills., who was arrested at Litchfield night before last, has been admitted to bail in the sum of $6,000. He is said to have had $7,000 when arrested. Great excitement still exists over the suspension. Yesterday a run was made on another bank in town, the Montgomery County Loan and Trust company, and $90,000 are said to have been paid out by it, when confidence was restored.

2. December 29, 1881 The Daily Gazette Wilmington, DE
Article from The Daily Gazette, December 29, 1881

Click image to open full size in new tab

Article Text

GENERAL NEWS. Samuel Piercy, a leading actor of Edwin Booth's company, is seriously ill of typhoid fever in Boston. It is reported that earthquakes have been felt within a few days in Tehu. antepec, Juchitan and Zantepec, Mexico. Borings for the new Atlantic and Northwest railway bridge at Montreal are said to be proceeding satisfactorily. The longest stretch is 3,000 feet, the shortest 2,800. A run was made on Tuesday on the Montgomery Loan and Trust Company's Bank, in Hillsboro', Illinois, and it is said $90,000 were paid out before "confidence was reasonably restored." The run was caused by the suspension of Haskell, Harris & Co. T. P. O'Connor, the Irish agitator, lectured in the hall of the Merchants' Exchange, at St. Louis, on Tuesday evening. He was escorted to the ball by two companies of militia and SEVeral Irish societies, and was introduced to the audience by the Governor of the State. The Mayor of St. Louis also made a brief address. The French visitors arrived in Montreal yesterday, and were received by a connittee of French Canadians. The Joon P. King Manufacturing Company, of Augusta, Georgia, was organized yesterday. Its capital is $1,000,000. Jushi Yoshida Kiyonari, the Japanese ex-Minister, left Washington yesterday morning for San Francisco, whence he will sail on the 7th proximo for Japan. Navigation on the Mississippiriver was resumed from St. Paul to La Crosse on Tuesday, Lake Pepin is also open, a thing never before known at this time of the year. The first through train from San Francisco for New Orleans, on the Southern Pacific Railroad, will leave to-morrow. night. It is probable that a train may leave New Orleans for the Pacific coast the same day. John R. Van werner yesterday resigned his position as Chief Clerk of the Post-office Department, his resignation to take effect on January 31st. It is said he will be associated with Postmaster General James in the banking business in New York. THE tadpole is most sought after in odd jewlery. Now what could be more-or less-well, what does any lady want with a gold tadpole, any how? There are plenty of live ones, from five to six feet long, and some of them are useful in opera seasons.

3. December 29, 1881 New-York Tribune New York, NY
Article from New-York Tribune, December 29, 1881

Click image to open full size in new tab

Article Text

FRAGMENTS OF WESTERN NEWS. A FATAL DOG BITE. CHICAGO, Dec. 28.-Mrs. Kennedy Gray, living ou Van Buren-at., died yesterday of hydrophobia. She was bitten by a large dog three months ago. A FAILURE IN ST. LOUIS. ST. LOUIS, Dec. 28. -Thomas D. Faulkner, dealer in boots and shoes, made an assignment yesterday to Samuel C. Bunn Faulkner sold on commission for several Eastern manufacturers as well as on his own account, and his liabilities may be serious. A LAND LEAGUE DEMONSTRATION ST. LOUIS, Dec. 28.-T. P. O'Connor, the Irish agitator, delivered an address at the Merchants' Exchange last night He was excorted to the ball by two companies of militia and several Irish societies, and was introduced to the audience by Governor Crittenden. Mayor Ewing also made a short address. A MONEY PACKAGE MISSING, CHICAGO, Dec. 28.-Dempsey Reese, of Colorado, came to this city on the 10th inst., stopped at the Brevort House, and deposited a package containing $3,000 in the hotel safe. Yesterday the package was missing. Some of the attaches of the hotel believe and assert that the money was returned to Mr. Reese some days ago. THE HILLSBORO BANKING TROUBLES. ST. LOUIS, Dec. 28.-William A. Young, one of the directors of the suspanded banking house of Haskell, Harris & Co., at Hitlsboro, III., who was arrested at Litchfield on Monday night. has been admitted to bail. He 18 said to have had $7,000 on his person when arrested. Great excitement still exists over the auspension, and yesterday a run was made on another bank in the town. the Montgomery County Loan and Trust Company, and $90,000 are said to have been paid out by it, when confidence was fairly restored.

4. December 29, 1881 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, December 29, 1881

Click image to open full size in new tab

Article Text

A Broken Bank. ST. Louis, December 28.-William A. Younger, one of the directors of the suspended Banking Company, Harris & Co., at Hillsboro, was arrested at Litchfield, night before last, and has been admitted to bail in the sum of $0,000. He is said to have had seven thousand dollars on his person when arrested. Great excitement still exists over the suspension, and yesterday a run was made on another bank in town, the Montgomery County Loan and Trust Company, and $90,000 aresaid to have been payed out by it, when confidence was reasonably restored.

5. December 29, 1881 Wheeling Register Wheeling, WV
Article from Wheeling Register, December 29, 1881

Click image to open full size in new tab

Article Text

That Bursted Bank. CHICAGO. December 28.-W. A. Younger, one of the directors of the suspended banking company, of Harris & Co., at Hillsboro, Illinois, who was arrested at Litchfield night before last, has been admitted to bail in the sum of $6,000. He is said to have had $7,000 on his person when arrested. Great excitement still exists over the suspension, and yesterday a run was made on another bank in town, the Montgomery county Loan and Trust Company, and $90,000 are said to have been payed out by it, when confidence was reasonably restored.

6. December 29, 1881 The Emporia Weekly News Emporia, KS
Article from The Emporia Weekly News, December 29, 1881

Click image to open full size in new tab

Article Text

A Financial Flury, CHICAGO, Dec. 28.-Wm. A. Young, one of the directors of the suspending banking house of Haskell, Harris & Co. at Hillsboro, Illinois, who was arrested at Litchfield night before last, has been admitted to bail in the sum of $6,000. He is said to have had $7,000 on his person when arrested. Great excitement still exists over the suspension and yesterday a run was made on another bank in town, the Montgomery County Loan & Trust Company, and ninety thousand dollars are said to have been paid out by it when confidence was reasonably restored.

7. December 29, 1881 Daily Globe Saint Paul, MN
Article from Daily Globe, December 29, 1881

Click image to open full size in new tab

Article Text

Illinois Bank Excitement. Sr. LOUIS, Dec. 28.-Wm. A. Young, one of the directors of the suspended banking house of Haskell, Harris & Co., at Hillsboro, III., wno was arrested at Litchfield night before last, has been admitted to bonds in the sum of $6.000. He is said to have had $7,000 on his person when arrested. Great excitement still exists over the suspension, aud yesterday a run was made on another bank in the town, the Montgomery County Loan and Trust company, and $90,000 are said to have been paid out by it, when confidence was restored.

8. December 29, 1881 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, December 29, 1881

Click image to open full size in new tab

Article Text

FINANCIAL. The Ripple at Illisboro, III. SPRINGFIELD, III., Dec. 28.-William A. Young. one of the Directors of the suspended banking house of Haskell, Harris & Co., nt Hillshoro, III., who was arrested at Litchfield night before Inst. hns been admitted to ball in thosum of $0,000. He is said to have and $7,000 on his porson when arrested. Grout excitement BILLI exists over the susponsion, and yesterday n run was made on another bank in the town, the Montgomery County Loan & Trust Company, and $90,000 are said to have bucu paid out by it when confidence was reasonably restored.