5199. First National Bank (Quincy, IL)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
424
Charter Number
424
Start Date
August 19, 1878
Location
Quincy, Illinois (39.936, -91.410)

Metadata

Model
gpt-5-mini
Short Digest
ab80a220

Response Measures

None

Description

The First National Bank of Quincy suspended on 1878-08-19 due to the insolvency of a large local tobacco firm (Harris, Beebe & Co.). Multiple articles report the suspension; no explicit run is described. The bank reopened 1878-09-19 with funds to pay all demands. Articles also note a prior $100,000 burglary and that the Quincy Savings Bank (a connected institution) shared in the default.

Events (2)

1. August 19, 1878 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Insolvency/default of a large local tobacco firm (Harris, Beebe & Co.) that could not meet its paper, forcing the bank to suspend.
Newspaper Excerpt
The first national bank...has suspended. It is understood the large tobacco firm of Harris, Resbe & Co., were unable to meet their papers due to the bank, and made it necessary to take this step.
Source
newspapers
2. September 19, 1878 Reopening
Newspaper Excerpt
The First National Bank, which recently suspended, re-opened this morning, with money on hand to pay all demands. The deposits to-day exceeded the withdrawals.
Source
newspapers

Newspaper Articles (13)

Article from The Rock Island Argus, August 19, 1878

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Article Text

Failure of the National Bank at Quincy, Ills. QUINCY. Ills.. August 19.- - The first national bank, which is the only national bank in the city, has suspended. It is understood the large tobacco firm of Harris, Resbe & Co., were unable to meet their papers due to the bank, and made it necessary to take this step, Some years ago burglars stole $100,000 from this bank. No statement of the bank's affairs is given except that of the directors and officers that all the liabilities will be met.


Article from The New Orleans Daily Democrat, August 20, 1878

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Bank Failures. QUINCY, Ill., Aug. 19.-Considerable excitement was created here to-day by the announcement of the suspension of the First (and only) National Bank of th is city, and the Quincy Savings Bank, connected therewith, caused by the insolvency of the firm of Harris, Beebe & Co. This is the same bank that was burglarized some time ago to the extent of $100,000. It has always been regarded as the strongest and best managed bank here. The officers assure depositors that every dollar will be paid. This assurance is also given privately by the directors to their friends, who


Article from The Cheyenne Daily Leader, August 20, 1878

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ILLINOIS. A National Bank Succumbs. Quincy, Aug. 19.-The First National, which is the only national bank in the city, has suspended. It is understood that the large tobacco firm of Harris, Beebe & Co., were unable to meet their paper due to the bank and made it necessary to take this step. Some years ago burglars stole $100,000 from this bank. No statement of the bank's affairs is given except that of the directors and officers that all liabilities will be met.


Article from The Wheeling Daily Intelligencer, August 20, 1878

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Suspension of a National Bank. QUINOY, ILLS, August 19.-The First National, the only National Bank in this city, has suspended. The large tobacco firm of Harris, Beebe & Co. were unable to meet the paper duethe bank and made it necessary to take this step. Some years ago burglars stole-$100,000 from the bank. No statement-was-givenex cept that the directors and officers say that all the liabilities will be met.


Article from Daily Los Angeles Herald, August 20, 1878

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that a dollar. which, like the is trade is dollar, weighs 420 grains the new worth 90 cents, while 412 only silver dollar, which weighs but but valued at 100 cents, is an unlimited dues. is for of made not only receivable customs legal tender in and characterize the rethe trade dollar at par of a Others Government the refusing action to as swindle. deem Strange to say, many dollars largest holders of trade have the National Banks, who them. are doubtless been speculating in The Fever at Ground. MEMHHIS, August 19th. says spefrom Grenada to-night date cial have been 65 deaths to cases there 100 sick at present. and 15. People are dying Relief day yesterday, without attendants. greatly needed. N w Cases as N. MEMPHIS, August 19th.- fever Up were to eight new cases of the Board reported noon at the office of are within Health. Of these six near the of infected district, one Henry the Charleston depot and Court street. one, at 19 West death Schultz, In addition to the above reported one in new case is that the Chelsen, and one an indication Citizens' fever is spreading. is actively The employed camp in Committee persons to move to A getting south of the city. with Jo Williams, will leave this evening wish to train hundred families who unwiltwo from the plague, but are encamp flee to go into a common will camp ling These persons railroad. ment. cut at points along the the Protest crum ORLEANS, August 42. 19th. NEW 129; deathe, The and New cases, presiding officers of the Cot- of ton have Exchange addressed Chamber Postmaster a com n Commerce to the intermunication protesting against States mails General with United authorities in ference the quarantine the States of by and cities in Loutowns Texas, Tennessee, They rep. Arkansas, isiana and Mississippi. losses and incoun resent that great have resulted to and the . States veniences of New Orieans named their clients merchants in the action of such any local mail from authorities the arbitrary in communications. preventing and all to the Postmaster- the They appeal for relief. in view interfer- of e General illegality of any mails. a e ence apparent with the United States appeal the In response to an yesterday sent to d e twelve Howard more Association yellow fever nurses s e Grenada. Vellon yock set 19th.-The d VICKSBURG, 48 cases o c officer reports August treatment at be yellow Health fever under New cases o'clock last and night. 20. Some eases have part of the city. S appeared tween 14 in the No deaths northeastern reported to day. Dombin Hurder mates 19th R bury A double e OMAHA, August committed Saturday d murder Kansas Pacido miles night onlithe was Railway, City, near St. Joe and Junction, C. B. Towa, two about mett, twenty William having from Omaha, and John Tinall, the back Doran been shot through them each some men who approached The weapon " bardouble slyly by from evidently behind. e, used was loaded with died buck- inrelled shot The gun men probably went clear 9 as The bodies te d stantly through shot. them. the shots by the section were d found yesterday notified the authorier foreman The who deceased had both arrested been rt has been blood e robbed. ties. A man Barlett, some been h on suspicion,at half dollars having d stained found in his possession. n Baite pryton August Dend. Tenn., at et y afterNASHVILLE, Bailie Peyton yesterday died ir Hon. in Gallatin the brain. idence noon of suffusion of e National Bank Numpende. 19th.-The n QUINCY, A Ills., August which is the d First National Bank, Bank in the city, 8 only suspended. National It is firm understood of Harthat has the large tobacco unable to meet and I, & Beebe were to the bank this o payments to take e necessary burglars made their ris it ago No of Some years this bank. is ii stole step. $100,000 from the bank's affairs directors and officers, S statement given except that that all of liabilities the will n e be Dominion met. purliament 19th.-The Dissolved. OTTAWA, August of the Dominion third has been Parliament dissolved. the 10th Nominations of Septem- 17th, where take place on electious on the the her and the Manitobs, the 19th. elections except in take place ou


Article from The Daily Dispatch, August 20, 1878

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Bank Suspension. QUINCY. ILL., August 19.-The First National Bank, the only bank in the city, has suspended. The officers say the liabilities will be met.


Article from Ottumwa Weekly Courier, August 21, 1878

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Bank Suspension. QUINCY, Ills., Aug. 19.-The First National Bank, which is the only naaional bank in the city, has suspended. It is understood that the large tobacco firm of Harris, Beebe & Co., were unable to meet their proper dues to the bank, and it made it necessary to take this step. Some years ago burglars stole $100,000 from this bank. No statement of the bank's affairs is given except that of the directors and officers that all liabilities will be met.


Article from The Milan Exchange, August 22, 1878

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himself. Colcord was a talented, but dissipated, man, about 35 years of age. Some five years ago he became separated from his wife and soon after formed a connection with the woman whom he murdered. She had led a somewhat adventurous life, and it is said that Colcord was intensely jealous of the supposed attention paid her by other men, which was doubtless the cause of the tragedy. Charles W. Àngell, of Chicago, Secretary of the Pullman Palace Car Company, has absconded with about $120,000 in cash and convertible securities, and is now supposed to be luxuriating in Europe. Judge Albert S. Marks, of Franklin County, is the Democratic candidate for Governor of Tennessee. The platform adopted by the State Convention favors the unconditional repeal of the Resumption act. Charles F. Hane, Cashier of the Canton (0.) Exchange Bank, committed suicide by poison on the 19th. He was 30 years of age and had become despondent on account of ill health. The First National Bank of Quincy, III., closed its doors on the 19th. The Quincy Savings Bank, a collateral institution, also shares in the default. The depositors of both institutions are assured that all their claims will be paid in full. The insolvency of the large tobacco-house of Harris, Beebe & Co., is the cause assigned for the Bank's suspension. John Tynans and Wm. Dorin, laborers in a stone-quarry near Pacific Junction, 20 miles south of Council Bluffs, Iowa, on the 18th were found dead alongside the road to their home, literally riddled with shot. A fellow-workman named McCreery is under arrest, charged with the murder, robbery being the incentive. Dorin was known to have $100 in his posession on the previous day. Four young Swedes, named John Pierson, Swan Johnson, Andrew Bloom and Frank Westbury, were drowned by the capsizing of their boat near Davenport, Iowa, on the 18th. Three of their companions reached the shore. Capt. W. H. Coates, a well known resident of Saugatuck, Mich., on the night of the 18th shot his wife fatally and then killed himself. No cause known.


Article from Lexington Weekly Intelligencer, August 24, 1878

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The First National and Quiney savings banks, Quiney, Ills. suspended business, last Monday. The strongest assurances are given that depositors will be paid in full.


Article from Chariton Courier, August 24, 1878

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The sample-trunk of jewelry stolen from the Palmer House, Chicago, has been recovered, and one of the thieves is in custody. At Roseburg, Oregon, recently, William Daly quarreled with his wife's brother, J Woodward, over family matters, when Woodward stabbed Daly twice and Daly shot Woodward, both falling dead. Josiah P. Colcord, a well known St. Louis lawyer, on the 17th shot and killed his mistress, Lillie G. Gibbons, and then killed himself. Colcord was a talented, but dissipated, man, about 35 years of age. Some five years ago he became separated from his wife and soon after formed a connection with the woman whom he murdered. She had led a somewhat adventurous life, and it is said that Colcord was intensely jealous of the supposed attention paid her by other men, which was doubtless the cause of the tragedy. Charles W. Angell, of Chicago, Secretary of the Pullman Palace Car Company, has abseconded with about $120,000 in cash and convertible securities, and is now supposed to be luxuriating in Europe. Judge Albert S. Marks, of Franklin County, is the Democratic candidate for Governor of Tennessee. The platform adopted by the State Convention favors the unconditional repeal of the Resumption act. Charles F. Hane, Cashier of the Canton (0.) Exchange Bank, committed suicide by poison on the 19th. He was 30 years of age and had become despondent on account of ill health. The First National Bank of Quincy, Ill., closed its doors on the 19th. The Quiney Savings Bank, a collateral institution, also shares in the default. The depositors of both institutions are assured that all their claims will be paid in full. The insolvency of the large tobacco-house of Harris, Beebe & Co., is the cause assigned forthe Bank's suspension. John Tynans and Wm. Dorin, laborers in a stone-quarry near Pacific Junction, 20 miles south of Council Bluffs, Iowa, on the 18th were found dead alongside the road to their home, literally riddled with shot. A fellow-workman named McCreery is under arrest, charged with the murder, robbery being the incentive. Dorin was known to have $100 in his posession on the previous day. Four young Swedes, named John Pierson, Swan Johnson, Andrew Bloom and Frank Westbury, were drowned by the capsizing of their boat near Davenport, Iowa, on the 18th. Three of their companions reached the shore. Capt. W. H. Coates, a well known resident of Saugatuck, Mich., on the night of the 18th shot his wife fatally and then killed himself. No cause known.


Article from The Wheeling Daily Intelligencer, September 20, 1878

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Resumed Business. ) QUINCY, ILL., September 19.-The First National Bank, which recently suspended, re-opened this morning, with money on hand to pay all demands. The deposits Tex. to-day exceeded the withdrawals,


Article from Daily Kennebec Journal, September 20, 1878

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President Hayes. TOLEDO, September 19. The President and Mrs. Hayes arrived from Fremont this morning. spending the day in the city and in attendance at the State Fair, under the escort of Mayor Jones and the reception committee, and the 16th regiment. At the fair grounds it is estimated that 75,000 people were assembled to bear Mr. Hayes speak. ILLINOIS. Body Found. CHICAGO, September 19. The dead body of B. W. Fay, hatter, was found on the docks last evening, with a bullet hole through the head. Proba. ble suicide. Fire. The Catholic church at Galena, Illinois, is destroyed by fire. Loss, $15,000. Bank Matters. QUINCY, September 19. The First National Bank, which recently suspended, re opened this morning with money on hand to pay all demands. The deposits to-day exceed the withdrawal.


Article from Daily Globe, September 20, 1878

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Banking Notes. QUINCY, Ill., Sept. 19.-The First national bank, which recently suspended, reopened this morning with money in hand to pay all demands. The deposits to-day exceeded the withdrawals. BOSTON, Sept. 19.-The stockholders of the Merchants national bank, of this city, voted to-day to reduce the capital from $1,000,000 to $750,000, subject to approval of the comptroller of the currency.