5009. Bank of Mascoutah (Mascoutah, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
June 15, 1893
Location
Mascoutah, Illinois (38.490, -89.793)

Metadata

Model
gpt-5-mini
Short Digest
1f22e052

Response Measures

None

Description

Newspapers (June 10–15, 1893) report the Bank of Mascoutah 'has suspended' and that it was controlled by J. N. Hagins (also spelled Higins/Higgins) whose Chicago Columbia National collapsed/assigned. No articles mention reopening; suspension appears permanent/linked to owner insolvency. Chose 'state' (no 'National' in name). Documented name spelling variants.

Events (1)

1. June 15, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension associated with controller J. N. Hagins (Higins) whose Columbia National of Chicago collapsed/assigned; bank suspended amid owners failure.
Newspaper Excerpt
The bank of Mascoutah, Ill., controlled by J. N. Hagins, of the collapsed Columbia National of Chicago, has suspended.
Source
newspapers

Newspaper Articles (3)

Article from The Madison Daily Leader, June 10, 1893

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Article Text

Light Runs. KEWAUNEE. Wis., June 10. -Both the State Bank of Kewaunee and the Bank of Kewaunee have experienced light runs. More Banks Go Under. CHICAGO, June 10.-Joseph Higins, owning a private bank at 84 Washington street, and three corresponding institutions in Illinois towns, have made an assignment in the county court. Higins operated banks at Mascoutah, Sorento, Glitespie and St. Ann. The assignment covers all.


Article from St. Paul Daily Globe, June 10, 1893

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Article Text

FINANCIALLY CRIPPLED. Four Chicago Concerns Now in Charge of Assignees. CHICAGO, June 9.-William L. Sherwood, dealer in cloth at 141 Fifth avenue, assigned this morning. Assets are placed at $60,000 and liabilities at $40,000. Two firms failed today on the board of trade, that of W. G. Wylie & Co. and A. M. Henderson. Neither failure created any serious ripple in prices on the board. Joseph Higins, owning a private bank at 84 Washington street, and three corresponding institutions in Illinois towns, made an assignment this morning. Assets are scheduled at $50,000. Liabilities not estimated. Higins operated banks at Mascoutah, Sorrento, Gillespie and St. Ann. The assignment covers all. August Jernberg, and W. R. Griffin, composing the banking firm of Jernberg, Griffin & Co., made a voluntary assigement today. The liabilities of the firm are $20,000, and the assets $24,000. Jernberg also conducted a real estate business, and at the same time assigned this, placing his assets at $200,000 and his liabilities at $151,000. NEW ORLEANS, June The Louisiana Cypress Lumber company went into the hands of a receiver vesterday, the result of the recent depression of the money market. The assets of the company are nominally $200,000, with indebtedness probably of $200,000. FLORENCE, Ala., June 9.-The Tuscumbia company (banking) closed its doors this morning. The president is absent from the city, and no statement will be given out until he returns. NEW YORK, June 9.-Judge McAdam, of the superior court, appointed Fabius M. Clark and Dr. Henry T. Cutter, receivers of the Casino this afternoon.


Article from The Green Forest Tribune, June 15, 1893

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Article Text

THE WEEK'S NEWS IN BRIEF. MANY INCIDENTS REDUCED FROM COLUMNS TO SHORT. SPICY PARAGRAPHS. Everything Eliminated But Facts For the Special Convenience of Readers of The Tribune. LAST Thursday was Nebraska's day at the World's Fair EIGHTY-SIX fourth-class Postmasters were appointed Saturday. RICH gold deposits have been found in the mountains of Wyoming THE Arkansas building at the World's Fair will be dedicated to-day. THE great tragedian, Edwin Booth, passed off life's stage last Thursday VIRGINIA Populists are making preparations for an active campaign this fall. THE names of many members of Congress are to be found on the pension rolls THE Hudson, (Wis.) Savings Bank has closed with nearly $700,000 due depositors. R. W. W ALLACE has been acquitted of murder at Texarkana, after an interesting trial. A STRANGE wild human covered with long woolly hair has been discovered near Paducah, Ky. IT is believed that the problem of making 8 State out of the Indian Territory is far from solved. THERE are 1,550 candidates for the 397 seats in Germany's Reichstag to be filled by election to-day. JAMES GORDON BENNETT of the New York Herald was thrown from a carriage, in Paris, and seriously injured. WASHINGTON news say the pension examining boards are to be given an overhauling in the near future. THE Ohio Republicans nominated all the present incumbents for re-election, headed . by Governor McKinley. TREASURE worth $2,000,000 and secreted in the City of Mexico by Emperor Maximillian has been unearthed. THE belief has come to be a general one in Havaii that a protectorate will be established by the United States. THE bank of Mascoutah, Ill., controlled by J. N. Hagins, of the collapsed Columbia National of Chicago, has suspended. R. G. DUN'S weekly review says that tradeis slightly improving and that there is a material improvment in the financial situation. CHOLERA is increasing at Mecca, and deaths have occurred in France and Hamburg. England has redoubled her quarantine precautions. ROBBERS held up a Santa Fe train near Kau., last Cimeron, Saturday and relieved the express agent of a deal of the company's money. LATE developments in the Borden case show evidence strongly in favor of the defendent. The trial is calendered to last two weeks. THE World's Vegetarian Congress was week at Chicago, of atdistinguished held last vegetarians the with country most of in the tendance. AN important order has been issued by Commissioner Louchren on the subject of adjudication of the pension claims under the disability act. THE Duke of Veragua was at Columbus, O., on Thursday and was given a cordial reception by the city which was named for his illustrious ancestor. AN amusing circumstance has developed at the Treasury Department at Washington in connection with the application of two men of the same name for office. MR. CLEVELAND says he will not call Congress in extra session until early in September, unless the financial situation, which he regards as threatening, warrants it. A ROBBERY of the Mobile & Ohio express car at Forest Lawn, III.. was perpetrated by a cool and daring gang who made a complete success of the job, last Thursday. Two out of three Federal Judges at Chicago granted the injunction closing the World's Fair on Sunday, but an appeal has been taken that may reverse the decision. A TERRIBLE conflagration on Wednesday of last week devastated the city of Fargo, N. D., burning hundreds of buildings and rendering thousands of people homeless. CHIEF JUSTICE FULLER of the United States Supreme Court has suspended the injunction of the United States circuit court, closing the gates of the World's Fair on Sunday. A BRILLIANT female swindler who utilized matrimonial papers and the mails to engage herself to 40 different men from whom she obtained money has been arrested at Albany, N.Y. THREE hundred or more Western cowboys propose to start on Sunday, June 25, from Chadron, Neb., for a race of about 700 miles for money, no man being allowed morethan two horses. IT is authoratively announced that should Directors of the on in tempt to the open Sunday defiance World's of the Fair court's to atdecision the Government will use force prevent it. A PITCHED battle took place between strikers and employes of contractorson the drainage canal at Romeo, III., Friday afternoon. Several men were killed and about a dozen wounded. THE official records show many more resignations of fourth-class postmasters under this administration than under Harrison during the same length of time, but removals have been much less.