5069. Cowling, Gowenlock & Co. (Mount Carmel, IL)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
November 5, 1890
Location
Mount Carmel, Illinois (38.411, -87.761)

Metadata

Model
gpt-5-mini
Short Digest
18b16d4d

Response Measures

None

Description

Bank closed after death of its president (Nov 5, 1890); cashier absconded and a receiver was appointed (reported Nov 16, 1890) with safe nearly empty. This is a suspension followed by receivership/closure due to bank-specific adverse events (president's death and suspected embezzlement by cashier).

Events (2)

1. November 5, 1890 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closed on death of President Cowling; depositors demanded funds when bank did not reopen and cashier subsequently disappeared, suggesting internal malfeasance/insolvency.
Newspaper Excerpt
The banking house of Cowling, Gowenlock & Co. was closed November 5 on account of the death of President Cowling.
Source
newspapers
2. November 16, 1890 Receivership
Newspaper Excerpt
Yesterday a receiver was appointed and the safe was found to contain less than $200. The supposition is that the cashier got away with $15,000 or more.
Source
newspapers

Newspaper Articles (7)

Article from Daily Kennebec Journal, November 17, 1890

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Article Text

Cashier Missing-Bo is $15,000 or $20,000. MOUNT CARMEL, III., Nov. 16.-The banking firm of Cowling, Gowenlock & Co. is closed. Cowling, the president of the bank, died November 5th. The depositors expected that the bank would remain closed for a few days, but after waiting a week they became impatient and wanted money. Tuesday, Cashier Dave Gowenlock left to raise funds to meet the rush of opening day. He did not return and has not since been heard from. Yesterday morning a receiver was appointed and the safe opened. It contained less than $200. The supposition is that the cashier got away with $15,000 or $20,000.


Article from Sacramento Daily Record-Union, November 17, 1890

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Article Text

Spring Session of Congress. WASHINGTON, November 16th.-Nearly every Democrat of prominence and influence who has been in Washington since the result of the Congressional elections became known, seems to desire and expect that a spring session of the fifty-second Congress will be called. Many of them go so far as to declare that if necessary to bring that to pass the Democratic minority in the fifty-first Congress will obstruct and prevent the passage of some of the appropriations for the support of the Government. Aid for the Destitute. LINCOLN (Neb.), November 16th.-At a mass meeting held to-day, presided over Governor Thayer, steps were taken for the immediate relief of the destitute in the western part of the State, and a substantial fund was raised. It is designed to tide over all the pressing wants by individual subscriptions until the meeting of the Legislature. The Commission appointed bv the Governor reported twelve counties included in the drought stricken district. An appropriation of $100 000 will be required to prevent actual suffering. The Cashier Disappeared. CHICAGO, November 16th.-A dispatch from Mount Carmel, Ill., says that the banking house of Cowling, Gowenlock & Co. was closed on November 5th on account of the death of President Cowling. It did not re open, and Cashier Gowenlock disappeared. Yesterday a receiver was ap. pointed, and the safe was found to contain less than two hundred dollars. The supposition is that the Cashier got away with $15,000, or more. Clearing-House Returns. BOSTON, November 16th.-The Clearinghouse statement for the past week is as follows: New York, $958,456,658, an increase of 223.7; Boston, $113,558,030, an increase of 13.0; Chicago, $92,476,000. an increase of 24.5; Philadelphia, $82 338,318, an increase of 171: St. Louis, $25,014,002, no comparison. The total of the leading cities of the United States and Canada is $1,502,834,479, an increase of 23 2. Lynching Looked For. HUNTINGTON (Tenn.), November 16th.Ross and his yesterday to on a Constable Ross, attempted Hig farmer nephew, levy named Jim lot of cotton belonging to a Waddis, against whom the Constable held an account. Waddis rushed out of the house with a double-barreled shotgun and killed both men. Lynching is looked for. The Diamonds Recovered. NEW YORK, November 16th.-Two which diamond bracelets, valued at $12,000, were supposed to have been stolen from Mrs. Commodore Bateman by her French maid, were found in the very room from which they were thought to have been stolen. The maid will probably be released to-morrow. Has Not Received Any Money. NEW YORK, November 16th.-Before his sermon to-day, Rev. Dr. John R. Paxton, pastor of the West Presbyterian Church, denied the report that a millionaire had given him $100,000. The report had brought him many begging letters, one from California asking for $10,000. Mortally Wounded. NEW YORK, November 16th.-A report reached this city to-day that Dick Liddell, owner of Delisarius and other race horses, has been shot and perhaps mortally injured by trainer Purcell at Gloucester, N.J. The men quarreled about a racing matter. The report could not be confirmed to-night. A Jealous Husband's Deed. CANTON (III.), November 16th.-At Utica Philip Smith, a well-to-do shot and killed his He was 60 and she years suicided. this farmer, morning been wife 50 and insanely then of For some time he has jealous age. of her, friends say, without any cause. Bad Freight Wreck. HUNTINGTON (Ind.), November 16th.-A wreck occurred on the Chiand Erie Road near here by a misrlaced bad cago presumably freight switch. last night, were The engineer, fireman and brakeman fatally injured. Chief Justice of Samoa. NEW YORK, November 16th.-Z. De Cederantz, the new Chief Justice of Samoa, arrived on the Normandia to-day, and will proceed to San Francisco after a visit to Washington. Destructive Fire. PITTSBURG, November 16th.-The busiportion of the village of Luthersburg ness was destroyed by fire yesterday, entailing loss of $40,000. P. T. Barnum Ill. BRIDGEPORT (Conn.). November 16th.Phineas Taylor Barnuro, the veteren showman, is seriously ill with infiuenza. "Young man, you must take more pains with your writing." The youth looked up and replied Taint my fault; it's the pen." "Then get a new pen," replied the "That won't do any the boy made answer, tricity in the street cars good," teacher sharply. throws "for the all elec- the


Article from The Seattle Post-Intelligencer, November 17, 1890

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Article Text

Illinois Bank Cashier Absconda: CHICAGO, Nov. 16.-A dispatch from Mount Carmel, III., says: "The banking house of Cowling, Gowenlock & Co. was closed November 5 on account of the death of President Cowling. It did not reopen, and Cashier Gowenlock disappeared. Yesterday a receiver was appointed and the safe found to contain less than $200. The supposition is that the cashier got away with $15,000 or more.


Article from Los Angeles Herald, November 17, 1890

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Article Text

GOT AWAY WITH THE FUNDS. A Bank Cashier Decamps With a Large Amount of Cash. CHICAGO, Nov. 16.-A dispatch from Mount Carmel, Ill., says the banking house of Cowling, Gowenlock & Co. was closed November 5th on account of the death of President Cowling. It did not reopen, and cashier Gowenlock disappeared. Yesterday a receiver was appointed, and the safe was found to contain less than $200. The supposition is that the cashier got away with $150,000 or more.


Article from The Anaconda Standard, November 17, 1890

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Article Text

The President Dead, the Cashier Skipped. CHICAGO, Nov. 16.-A dispatch from Mount Carmel, III., says: The banking house of Cowling, Gowenlock & Co., was closed on November 5 on account of the death of President Cowling. It did not reopen and Cashier Gowenlock disappeared. Yesterday a receiver was appointed and the safe was found to contain less than $200. The supposition is the cashier got away with $15,000 or more.


Article from Wheeling Register, November 17, 1890

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Article Text

Cashier Got Away with the Funds. MOUNT CARMEL, ILL., Novemer 16.The banking firm of Cowling, Gowenlock & Co. has closed its doors. Mr. Cowling, the president of the bank, died November 4. Depositors expected the bank to remain closed for a few days, but after waiting a week they became impatient and wanted their money. On last Tuesday the cashier, Dave Gowenlock, formerly of Mount Vernon, Ill., left to raise the funds to meet the rush on the opening day. As he did not return telegrams were sent out in all directions for him, but no clew to his whereabouts have been discovered. Yesterday morning a receiver was appointed and the safe was opened. It contained less than $200. The supposition is that the cashier got away with $15,000 or $20,000.


Article from The Morning Call, November 17, 1890

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Article Text

Why the Back Did Not Open. CHICAGO, Nov. 16.-A - dispatch from Mount Carmel, III., says that the banking house of Cowling, Gowenlock & Co., was closed November 5th, on account of the death of the President, Cowling. It did not reopen, and Cashier Gowenlock has disappeared. Yesterday a receiver was appointed, and the safe was found to contain less than $200. The supposition is that the cashier got away with $15,000 or more.