4991. Tri City State Bank (Madison, IL)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
February 20, 1908
Location
Madison, Illinois (38.683, -90.157)

Metadata

Model
gpt-5-mini
Short Digest
29ab7193

Response Measures

Full suspension, Books examined

Other: Receiver appointed after petition by stockholder; cashier indebtedness discovered.

Description

A run began Feb 20–21, 1908 after reports that a trusted employee was under investigation; the bank closed its doors to stop the run and initially described the closing as temporary. About two weeks later a receiver (J. C. Hinde) was appointed and took charge, indicating permanent closure/receivership.

Events (3)

1. February 20, 1908 Run
Cause
Bank Specific Adverse Info
Cause Details
A trusted employee was reported under surveillance and his accounts were being investigated (suspected mishandling of funds), which sparked withdrawals.
Measures
Assistant cashier (Miss Roxie/Roxy Burton) closed the bank's doors to stop the run; state auditor investigated.
Newspaper Excerpt
The doors of the bank were closed when a run was started following a report that an employe was under surveillance and that his accounts were being investigated.
Source
newspapers
2. February 21, 1908 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed following the run sparked by reports of suspected mishandling by an employee; officials called the closing temporary while under investigation.
Newspaper Excerpt
The TriCity State bank closed its doors yesterday. President C. R. Kiser said today that the bank is solvent, though it has very little cash on hand.
Source
newspapers
3. March 12, 1908 Receivership
Newspaper Excerpt
J. C. Hinde, who was appointed by Judge Moore of the circuit court as receiver of the Tri-City State bank, Thursday took charge of the affairs of the institution. Two weeks ago the bank closed.
Source
newspapers

Newspaper Articles (10)

Article from The Topeka State Journal, February 21, 1908

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Article Text

SHE STOPPED THE RUN. Niece of J. R. Burton Assistant Cashier of a Bank. Madison, Ill., Feb. 21.-State Auditor McCullough arrived from Springfield today and began an investigation of the Tricity bank, which closed its doors yesterday. President C. R. Kiser said today that the bank is solvent though it has "very little cash on hand:" He would not state the exact amount. A run was started yesterday and in the temporary absence of Cashier C. W. Burton, his daughter, Miss Roxey Burton, assistant cashier, closed the bank to stop the run. Cashier Burton is a brother of former United States Senator Joseph Ralph Burton of Kansas.


Article from The Birmingham Age-Herald, February 21, 1908

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Article Text

BANK IN TROUBLE. A Trusted Employe Is Suspected of Handling Funds Wrongfully. Madison, Ill., February 20.-The TriCity State bank closed today and the home of a trusted employe of the institution is under police guard tonight. Officers with a warrant are waiting to serve it. The, doors of the bank were closed when a run was started following a report that an employe was under surveillance and that his accounts were being investigated. The bank's capital is $25,000, and its deposits aggregate about $95,000. Most of the depositors are foreigners. The bank's officials declare the closing is temporary.


Article from The Montgomery Advertiser, February 21, 1908

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Article Text

GUARD BANK PRESIDENT. Institution Closes Doors and Ometais Demand Protection. t Madison, III., Feb. 20-The Tri City State Bank /closed today and the home of a trusted employe of the institution is under police guard tonight. Offcera with a warrant are waiting to serve it. The deors of the bank were closed when a run was started following a report that an employe was under surveillance and that his accounts were being investigated. The bank's capital is $25,000 and its deposits aggregate about $95,000. Most of the depositors are foreigners. Bank officials declare the closing is temporary.


Article from Deseret Evening News, February 21, 1908

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Article Text

WOMAN AT THE WINDOW. To Stop a Run on Tri-City Bank She Closed Its Doors. Madison, III., Feb. 21-State Auditor McCullough arrived from Springfield today and began an investigation of the Tri-city State bank which closed its doors yesterday. President C. R. Kiser said today that the bank is solvent, though it has very little cash on hand. He would not state the exact amount, A run was started yesterday and in the temporary absence of Cashier C. W. Burton, his daughter, Miss Roxy Burton, assistant cashier, closed the bank to stop the run. Cashier Burton is & brother of former United States Senator Joseph Ralph Burton of Kansas.


Article from Omaha Daily Bee, February 22, 1908

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Article Text

WOMAN STOPS RUN ON BANK But Her Action Results in Investigation by the Illinois Auditor. MADISON, III., Feb. 21.-State Auditor McCullough arrived from Springfield today and began an investigation of the Tri-City State bank which closed its doors yesterday. President C. H. Kiser said that the bank is solvent, though it has "very little cash on hand." He would not state the exact amount. A run was started yesterday and in the temporary absence of Cashier C. W. Burton, his daughter, Miss Roxy Burton, assistant cashier, closed the bank to stop the run. Cashier Burton is a brother of former United States Senator Joseph Ralph Burton, of Kansas.


Article from The Barre Daily Times, February 22, 1908

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Article Text

GIRL CLOSES A BANK TO STOP RUN ON IT. The State Auditor of Illinois Is Now In Charge. Madison, III., Feb. 22.-State Auditor MeCullough arrived from Springfield yesterdål and began an investigation of the Tri-City bank, which closed its doors yesterday. President C. R. Kiser said yesterday that the bank is solvent, though it has "very little eash on hand" He would not state the exact amount. A run was started yesterday, and in the temporary absence of Cashier C. W. Burton, his daughter, Miss Roxy Burton, assistant cashier, closed the bank to stop the run. Cashier Burton is a brother of former United States Senator Joseph Ralph Burton of Kansas.


Article from Tonopah Daily Bonanza, February 23, 1908

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Article Text

GIRL CLOSES BANK TO STOP A RUN MADISON, III., Feb. 22.-State Auditor McCullough arrived from Springfield today and began an investigation of the Tri-City State Bank, which closed its doors yesterday. President C. R. Kiser said today that the bank is solvent, though it has very little cash on hand. He would not state the exact amount. A run was started yesterday and in the temporary absence of Cashier C. W. Burton, his daughter, Miss Roxy Burton, assistant cashier, closed the bank to stop the run. Cashier Burton is a brother of former United States Senator J. R. Burton.


Article from The Free Lance, February 25, 1908

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Article Text

Girl Ordered Bank Closed. Madison, III., Feb. 22.-State Auditor McCullough began an investigation of the Tri-City State bank, which closed Thursday. President C. R. Kiser says the bank is solvent, though it has "very little cash on hand." A run was started, and in the absence of Cashier C. W. Burton, his daughter, Miss Roxy Bufton, assistant cashier, closed the bank to stop the run.


Article from The Greenville Journal, March 12, 1908

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Article Text

Has Madison (III.) Bank. Madison, III.-J. C. Hinde, who was appointed by Judge Moore of the circuit court as receiver of the Tri-City State bank, Thursday took charge of the affairs of the institution. Two weeks ago the bank closed.


Article from Daily Press, April 4, 1908

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Article Text

Nervy Girl Saves Bank On the shoulders of tl A heroine of finance is Miss Roxie cashier rested the respo Burton, of this city. "The nerviest he hour that had broken girl in the state" is what the people down. She faced it. with st of the Tri-Cities are calling her, says and a smile of hope. The S a Madison, (IIIs.) dispatch in the New requested a statement of York Herald. condition. The statement Looking more like a high school out by the young women. pupil than a financier, Miss Burton look the very best for the /sat at the cashier's window in the It happened that on t Tri-City state Bank the other day statement was made out a and ran her father's bank, single ber of railroad checks W handed, through a crisis. She did not A majority of these we surrender until the directors, over her banks, but it always h protest, ordered the bank doors clos. ed. The state bank examiner vindipolicy of the Tri-City Ban modate the wage earner cated the assistant cashier and deble, So these checks we clared the Tri-City State Bank to be cashed. In consequence all right. hand was at low ebb. in Subsequently a petition was filed by would have been necessar one of the stockholders asking that a it to the normal would h receiver be appointed for the bank. carry those railroad el and that petition was granted by the banks on which they were court. One of the allegations was that obtain the money. Cashier Burton was in debt to the bank to the extent of several thouIn country towns It is of banks to keep open uni sand dollars. He admitted owing the afternoon. The Tri-City bank money. but he, as well as his had kept its doors open a brother. declared their willingness to ular hours. On the day make It good. His $20,000 bond COV however, when the cash r cred his indebtedness. and it was conRoxie hung up the sign ") ceded that the bank was in no danger promptly at three o'clock of losing what he owed the institution. or three persons walk checks to be cashed. Th Miss Burton, who had charge of the formed that the bank ha bank's books, declares that further inthe day. vestigation will show her father's acts Miss Roxie called the as cashier were nothing to his discredit. and that he will come out of gether. They assembled She told them she consi the affair with flying colors. duty o inform them that 1 The Tri-City Bank is five years old. ditor had asked for a = Mr. Burton established it soon after the bank's condition à coming here from Abilene. Kan. He cashing of many railroad is the largest Individual stockholder, ing the day had compelle the capital being $25,000. He was ter only a small cash bal made cashier and has had charge of statement. the bank since Its beginning. The "Whew!" said the direc first year an eight per cent. dividend was declared and the institution had inspected the statement look bad." prospered ever since. until lately when "Not half bad," respon the mills at Madison and Granite City closed. promptly. Thon she ex the checks could be co The recent money stringency affectcash the next morning. od the Tri-Citv Bank as it did all ishing the bank's supply banks. Then with the shutting down of the mills deposits fell off. There enabling it to continue b out a jar. are many foreigners in the Tri-Cities But the directors thou and the savings of many of these have been deposited at the Burton They remarked that t lank When some of the foreigners. been compelled to iss statement and that the as unable to obtain employment. left for eir had just been compo Purope the denosits of the bank fell off heavily. The remaining accounts two good sized checks. did have the excuse that were still further depleted hv persons out of work who withdrew their savbanking hours." The directors seemed ings to live on. The situation was the darkest the bank had faced. he bank tried to keep ope statement might cause a Mr. Burton was worried. He walkfunds and force It to c ed the floor of his home by night. He figured desperately by day. The nerunder embarrassing circu "We'd better not oper vous strain told on him. and he had remarked one director, a to give m and take to bis bed. The bank was then in the hands of nodded their heads in an Miss Roxie. She lind one assistantopinion. "Don't say that," o Miss Henrletta Schock. bookkeeper.