First National Bank - Peoria, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 176
Charter Number: 176
Start Date: April 25, 1896
Location: Peoria, Illinois (40.694, -89.589)

Metadata

Model: gpt-5-mini
Short Digest: 75e42ce9

Response Measures

None

Description

Article states Robert R. Beard is receiver of the First National Bank of Peoria, IL, implying the bank failed and a receiver was appointed. The piece discusses a suit against brokers re: alleged embezzlement/speculation by the bank's president. No explicit mention of a depositor run or temporary suspension prior to failure in the provided excerpt, so classified as suspension_closure (failure with receiver).

Events (1)

1. April 25, 1896 Receivership

Newspaper Excerpt: Serious charges were made in a declaration filed today in the Federal court in a suit of Robert R. Beard, receiver of the First National bank of Peoria, Illinois, against the commission firm of Milmine, Bodeman & Co., ... The suit is brought against the firm as brokers for E. R. Cassatt, the president of the failed bank, claiming $50,000. It is alleged that Cassatt took without authority funds of the bank on deposit ... and lost them in speculation ...
Source: newspapers

Newspaper Articles (1)

1. April 26, 1896 San Antonio Daily Light San Antonio, TX

Article from San Antonio Daily Light, April 26, 1896

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Article Text

A Stock Gambling Exposure. By Special Wire to the SUNDAY LIGHT. CHICAGO, April 25. - Serious charges were made in a declaration filed today in the Federal court in a suit of Robert R. Beard, receiver of the First National bank of Peoria, Illinois, against the commission firm of Milmine, Bodeman & Co., of Chicago, and the New York members of the Chicago Board of Trade and Stock Exchanges of those cities. George Milmine, Charles E. Milmine and Edward C. Bodeman, of the firm, are residents of New York city. The suit is brought against the firm as brokers for E. R. Cassatt, the president of the failed bank, claiming $50,000. It is alleged that Cassatt took without authority funds of the bank on deposit at the National Bank of Illinois, in this city, and lost them in speculation on the Board of Trade/ defendants making the deals for him.