5180. Bank of Pike County (Pittsfield, IL)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
December 4, 1883
Location
Pittsfield, Illinois (39.608, -90.805)

Metadata

Model
gpt-5-mini
Short Digest
2a47b79a

Response Measures

Capital injected, Full suspension

Other: Assignee (Jefferson Orr) appointed; cashier/major stockholder placed private estate with assignee to protect depositors.

Description

Multiple newspapers report a run (Dec 4, 1883) that 'compelled it to close its doors' and the bank subsequently made an assignment (failure) to an assignee (Jefferson Orr) in early December 1883. Some articles give assignment date as Dec 5; others report the assignment on Dec 7. I used Dec 4 for the run and Dec 7 for the assignment (receiver) based on the New-York Tribune (Dec 8, 1883). Bank name contains no indicator of charter type, so bank_type set to unknown.

Events (2)

1. December 4, 1883 Run
Cause
Bank Specific Adverse Info
Cause Details
Reports that the bank 'was tottering' (bank-specific weakness) led to depositor panic and heavy withdrawals on Dec. 4, 1883.
Measures
Closed its doors when run occurred; cashier/principal stockholder later placed a large amount of private estate in hands of assignee to protect depositors.
Newspaper Excerpt
it had been reported for several days that the bank was tottering, and on the 4th instant a run was made which compelled it to close its doors.
Source
newspapers
2. December 7, 1883 Receivership
Newspaper Excerpt
The Bank of Pike County has made an assignment to Jefferson Orr. The liabilities are $40,000 and the assets $50,000.
Source
newspapers

Newspaper Articles (5)

Article from Savannah Morning News, December 8, 1883

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Article Text

Failures in Business. BALTIMORE, Dec. .-The Baltimore Cement Pipe Company made an assignment to-day for the benefit of their creditors. The bond of the trustee is $6,000double the estimated assets. NEW YORK, Dec. 7.-The business failures last week throughout the United States and Canada, as reported to R. G. Dun & Co.'s Mercantile Agency, number 307, against 242 during the previous week. This is the most formidable list recorded in any one week for some years. The past increase is principally in the Western and Southern States, and in Canada. In New York city the assignments comprise Langsdorf & Co., retail clothing, J. H. Morrell, storage, S. M. Meyenberg & Co., silk, and John Paret & Co., wholesale clothing. Schedules in assignment for the benefit of their creditors made by Levy Bros. & Co., clothiers, formerly of No. 472 Broadway, to Solomon H. Kohn, were filed today in court. They show liabilities of $2,470,639, nominal assets $1,940,942 and actual assets of $1,712,242. The contingent liabilities of the firm are $539,855. Among the creditors are several unknown holders of notes to the amount of about $1,162,000. In an affidavit it is stated that the nominal value of the claims of the estate against F. Mayer and F. Mayer & Co. is $192,512, the actual value of which is not known, owing to the fact that F. Mayer & Co. have made an assignment, but as yet have made no statement. This claim is exclusive of a claim of $132,062 arising out of accommodation notes made by the assignors and by them loaned to F. Mayer & Co. for the latter's accommodation, and which the assignors are liable to pay, as Mayer & Co. have failed in business. PITTSFIELD, ILL., Dec. 7.-The Bank of Pike County has assigned. The liabilities are $40,000 and the assets $50,000. It had been reported for several days that the bank was tottering, and on the 4th instant a run was made which compelled it to close its doors. HALIFAX, N. S., Dec. 7.-The assignment of J. E. Burchell, Burchell Bros., and Burchell, Matheson & Co., of Sydney, C. B., is reported. The firms have been forced to suspend owing to the failure of the Exchange Bank of Montreal.


Article from New-York Tribune, December 8, 1883

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Article Text

FAILURE OF AN ILLINOIS BANK. PITTSFIELD, Ill., Dec. 7.-The Bank of Pike County has made an assignment to Jefferson Orr. The liabilities are $40,000 and the assets $50,000. It bad been reported for several days that the bank was totter ing, and on December 4' a run was made which compelled it to close its doors. Mr. Fishell, the eashier and principal stockholder, has placed in the hands of the assignee a large amount of his private estate to protect the depositors. It is believed that the depositors will be paid in full.


Article from Watertown Republican, December 12, 1883

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Article Text

Financially Embarrassed. Failures in the United States and Canada for the week ending on the 7th inst., 307; for he previous week, 242. The Dover Silk Company, of Paterson, N. J., failed for $102,000 on the 6th. The mills employed 150 hands. The bank of Pike County, at Pittsfield, Ill., made an assignment on the 5th. Liabilities not known. Coates Bros., proprietors of a rolling mill near Baltimore, have failed for $75,000. Jones. Lamson & Co., proprietors of the Accutney Mills, Windsor, Vt., who failed for $500,000 last August, have settled with their creditors and the works will soon be running. Aeppli & Mattsen, tanners, Chicago. made made an assignment on the 4th inst. They owe $30,000. The firm of Cameron & Moreau. dry goods, Chicago, were closed up by the sheriff on the 4th, under judgments confessed to the amount of $28,231. Coates & Brother, proprietors of the Locust Point Rolling Mills, Baltimore, failed on the 4th. Liabilities about $75,000.


Article from Turner County Herald, February 21, 1884

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Article Text

Deeds of Blood. Frank Steve Thomas, a gambler, committed suicide at Galveston, Texas, on the 8th, by taking launanum. A young man named Charles Gardner shot himself at Douglass Park, Chicago, on the 9th. Grief over a young lady who committed suicide out of love for him turned his brain. Francis J. Parmenter, a Providence, R. I. coal dealer, was found dead in his barn on the 9tb, his skull being fractured. John Martin and Joseph F. Bree, whites, and Thomas Harket, colored, have been arrested on suspicion. James M. Underwood was hanged at Dardelles, Ark., on the 7th inst., in the presence of 3,000 people, for the murder of Robert J. Pendergrass several months ago. Jacob Wagen. a Milwaukee butcher, in a fit of the blues caused by a bad attack of delirium tremens, shot himself in the left side on the 7th inst., and died the same day. Two farmers named Johnson and Hawkins, living near Anderson, Ind., quarreled about a ditch on the 5th, and the latter shot Johnson and then committed suicide. Green Miller, a wife beater was fatally shot by a policeman at Danville, Va., on the 4th. Patrick Johnson, convicted of the murder of Michael Holmes, in Milwaukee in February last, has been sentenced to twenty years in Waupun. Thomas Salmon, the man under arrest at Laconia, N. H., for the murder of Mrs. Ford and Mr. Ruddy and child, broke down on the 3d and made a full confession of the crime. Financially Embarrassed. Failures in the United States and Canada for the week ending on the 7th inst., 807; for he previous week, 242. The Dover Silk Company, of Paterson. N. J., failed for $102,000 on the 6th. The mills employed 150 hands. The bank of Pike County, at Pittsfield, Ill., made an assignment on the 5th. Liabilities not known. Coates Bros., proprietors of a rolling mill near Baltimore, have failed for $75,000. Jones. Lamson & Co., proprietors of the Ascutney Mills, Windsor, Vt., who failed for $500,000 last August, have settled with their creditors and the works will soon be running. Aeppli & Mattsen, tanners, Chicago, made made an assignment on the 4th inst. They owe $30,000. The firm of Cameron & Moreau. dry goods, Chicago, were closed up by the sheriff on the 4th, under judgments confessed to the amount of $28,231. Coates & Brother, proprietors of the Locust Point Rolling Mills, Baltimore, railed on the 4th. Liabilities about $75,000. Smoke. Fire at the Mount Hickory Rolling Mills, Erie, Pa., on the 9tb, caused a loss of $200,000, and threw 250 men out of work. The Union Roiling Mill at Cleveland, Ohio, was partially burned on the 9th, causing a loss of $70,000. The Annisquam Mill, Rockport, Mass, burned on the 9tb. Less $200,000. The Athens Worsted Millsat Millbury, Mass., burned on the 8th. Loss es'imated at $100,000. Marlboro, Mass., suffered to the extent of block. $30,000 on the 7th by the burning of the Corry A sleeping car burned near Castleton. N. Y., on jured. the 7th. Two passengers were badly inA portion of the Sinclair packing house, at Cedar Rapids, Iowa, was partially destroyed by fire on the 7th, involving a loss of $100,000. The fire at Brussels, Belgium, on the 6th inst., caused a loss of 12,000,000 roubles. Fire on the 7th almost totally destroyed the town of Williamston, N. C.. together with the steamer Commerce, of the Roanoke and Baltimore Line, and 200 bales of cotton. Loss not given. A Presbyterian Church at Kalamazoo, Mich., burned late on the night of the 5th. Loss $25,000. The wholesale drug store of Haswell & Co., Montreal, burned on the 5th. Loss $50,000. The woolen mills of J. W. Sinclair, at Sa. lem, Ind., were destroyed by fire on the 6th, involving a loss of $75,000. The wholesale drug house of Pendleton. Thomas & Co., Nashville, Tenn., burned on the 5tb. Loss $75,080. The flaxseed oil mill of Rhodehammel Bros., Tippecanoe, O.. burned on the 5th, involving a loss of $40,000. The Moore and McCrary block, at Atlanta, Ga., was destroyed by fire on the 4h. The loss is estimated at $40,000. The steamer Minnie burned at Green Bay, Wis., on the 4th inst. Loss $15,000 The agricultural implement works of W. E. Whitman, at Winthrop, Me., burned on the 4tb. Loss $30,000. Three stores and the railroad depot at Sadiga, Alabama. burned on the evening of the 3d. Loss $75,000. Fire at Lynchburg, Tenn.. on the 4th inst., destroved twenty-two houses, including the Sentinel office and several stores. Loss $35,090. Fire at Liverpool, Eng., on the 3d inst., destroyed several cotton warehouses. The losses aggregate £60,000. A dozen store buildings at Chiliicothe, Mo.. burned on the 3d inst., involving a loss of $20,000. Governor's building, one of the largest blocks at Burlington, Iowa, burned on the 3d inst., involving a loss of $50,000. Adolph Heller's sausage factory, at Milwaukee. was partially burned on the 3d inst. Loss $15,000. The steamer Fred Debary was damaged to the extent of $60,000 by fire at Jacksonville, Fla., on the 3d inst. Watson, Obert & Co.'s general store at Bancroft, Mich., was damaged by fire to the extent of $15,000. Minor Mention. A man and three children were drowned by the cansizing of skiff while


Article from Turner County Herald, June 26, 1884

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Article Text

by ponceman at Danville, va., on the 4th. Patrick Johnson, convicted of the murder of Michael Holmes, in Milwaukee in February last, has been sentenced to twenty years in Waupun. Thomas Salmon, the man under arrest at Laconia, N. H., for the murder of Mrs. Ford and Mr. Ruddy and child, broke down on the 3d and made a full confession of the crime. Financially Embarrassed. Failures in the United States and Canada for the week ending on the 7th inst., 307: for he previous week, 242. The Dover Silk Company, of Paterson, N. J., failed for $102,000 on the 6th. The mills employed 150 hands. The bank of Pike County, at Pittsfield, Ill., made an assignment on the 5th. Liabilities not known. Coates Bros., proprietors of a rolling mill near Baltimore, have failed for $75,000. Jones. Lamson & Co., proprietors of the Accutney Mille, Windsor, Vt., who failed for $500,000 last August, have settled with their creditors and the works will soon be running. Aeppli & Mattsen, tanners, Chicago, made made an assignment on the 4th inst. They owe $30,000. The firm of Cameron & Moreau. dry goods, Chicago, were closed up by the sheriff on the 4th, under judgments confessed to the amount of $28,231. Coates & Brother, proprietors of the Locust Point Rolling Mills, Baltimore, failed on the 4th. Liabilities about $75,000. Smoke. Fire at the Mount Hickory Rolling Mills, Erie, Pa., on the 9tb, caused a loss of $200,000, and threw 250 men out of work. The Union Rolling Mill at Cleveland, Ohio, was partially burned on the 9th, causing a loss of $70,000. The Annisquam Mill, Rockport, Mass., burned on the 9tb. Loss $200,000. The Athens Worsted Millsat Millbury, Mass., burned on the 8th. Loss (8 imated at $100,000. Marlboro, Mass., suffered to the extent of $30,000 block. on the 7th by the burning of the Corry A sleeping car burned near Castleton. N. Y., on the 7tb. Two passengers were badly injured. A portion of the Sinclair packing house. at Cedar Rapids, Iowa, was partially destroyed by fire on the 7th, involving a loss of $100,000. The fire at Brussels, Belgium, on the 6th inst., caused a loss of 12,000,000 roubles. Fire on the 7th almost totally destroyed the town of Williamston, N. c., together with the steamer Commerce, of the Roanoke and Baltimore Line, and 200 bales of cotton. Loss not given. A Presbyterian Church at Kalamazoo, Mich., burned late on the night of the 5th. Loss $25,000. The wholesale drug store of Haswell & Co., Montreal, burned on the 5th. Loss $50,000. The woolen mills of J. W. Sinclair, at Salem, Ind., were destroyed by fire on the 6th, involving a loss of $75,000. The wholesale drug house of Pendicton. Thomas & Co., Nashville, Tenn., burned on the 5tb. Loss $75,000. The flaxseed oil mill of Rhodehammel Bros., Tippecanoe. O., burned on the 5th, involving a loss of $40,000. The Moore and McCrary block, at Atlanta. Ga., was destroyed by fire on the 4h. The loss is estimated at $40,000. The steamer Minnie burned at Green Bay, Wis., on the 4th inst. Loss $15,000 The agricultural implement works of W. E. Whitman, at Winthrop, Me., burned on the 4tll. Loss $30,000. Three stores and the railroad depot at Sadiga, Alabama. burned on the evening of the 3d. Loss $75,000. Fire at Lynchburg, Tenn., on the 4th inst.. destroyed twenty-two houses, including the Sentinel office and several stores. Loss $35,090. Fire at Liverpool, Eng., on the 3d inst., de-