Mount Carmel Trust & Savings Bank

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: savings bank
Start Date: July 3, 1878
Location: Mount Carmel, Illinois (38.411, -87.761)

Metadata

Model: gpt-5-mini
Short Digest: b10a7a5e

Response Measures

Full suspension

Other: Cashier suicide reported; article states bank 'would have to close its doors.'

Description

Article (Dateline Quincy, July 3, 1878; published July 4) reports a run on the Mount Carmel Savings Bank and that the cashier killed himself on account of a run... he knowing it would have to close its doors. The bank named in the article is Mount Carmel Savings Bank; the provided name (Mount Carmel Trust & Savings Bank) likely refers to the same institution (hence bank_name_unsure=true). The report implies the run led to permanent closure.

Events (1)

1. July 3, 1878 Run

Cause: Bank Specific Adverse Info
Cause Details: Heavy withdrawals (run) that forced or would force the bank to close its doors; article implies insolvency/embarrassment leading to closure.
Newspaper Excerpt: H. D. Rothermel, cashier of the Mount Carmel Savings Bank, kilied himself by shooting in his bank, on account of a run on the institution, he knowing it would have to close its doors.
Source: newspapers

Newspaper Articles (1)

1. July 4, 1878 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, July 4, 1878

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Article Text

ILLINOIS. Failure. QUINCY, July 3. The Bank of Sageise has failed. Liabilities $187,000, of which $72,000 are due county and town collectors. The suspension is caused by the withdrawal of $171,000 of tax deposits. The securities are said to be ample to pay the creditors. Suicide. H. D. Rothermel, cashier of the Mount Carmel Savings Bank, kilied himself by shooting in his bank, on account of a run on the institution, he knowing it would have to close its doors.