First National Bank - Winchester, IL

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 1484
Charter Number: 1484
Start Date: October 10, 1877
Location: Winchester, Illinois (39.630, -90.456)

Metadata

Model: gpt-5-mini
Short Digest: 2c7ad318

Response Measures

None

Receivership Details

Depositor recovery rate: 63.6%
Date receivership started: 1877-03-16
Date receivership terminated: 1881-07-23
OCC cause of failure: Losses
Share of assets assessed as good: 31.8%
Share of assets assessed as doubtful: 31.0%
Share of assets assessed as worthless: 37.2%

Description

Contemporary newspaper items report dividends declared by the Comptroller of the Currency to creditors of the First National Bank of Winchester, Ill., indicating the bank was in the hands of a receiver (i.e., suspended and in receivership). No article describes a depositor run. Multiple dividends are reported across 1877–1879, consistent with a suspended national bank in receivership (closure).

Events (6)

1. July 25, 1865 Chartered

Source: historical_nic

2. March 16, 1877 Receivership

Source: historical_nic

3. October 10, 1877 Receivership

Newspaper Excerpt: dividend to the creditors of the First National Bank of Winchester, Illinois ... declared by the Comptroller of the Currency
Source: newspapers

4. October 10, 1877 Suspension

Cause: Government Action
Cause Details: Bank is in the hands of a receiver; Comptroller declaring dividends to creditors (formal receivership/closure by authorities).
Newspaper Excerpt: The Comptroller of the Currency has declared a dividend of 10 per cent to the creditors of the First National Bank of , Winchester, Illinois, making in all the dividends 20 per cent.
Source: newspapers

5. April 12, 1878 Other

Newspaper Excerpt: The comptroller of the currency has declared dividends in favor of creditors of national banks in the hands of receivers as follows: ... First National bank of Winchester, Ill., 10 per cent., making in all 40 per cent.
Source: newspapers

6. July 9, 1879 Other

Newspaper Excerpt: The Controller of the Currency has declared a dividend of 10 per cent in favor of the First National Bank of Winchester, Ill., making in all dividends of 60 per cent.
Source: newspapers

Newspaper Articles (5)

1. October 10, 1877 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, October 10, 1877

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Article Text

1 WASHINGTON. Revenue Indictments. / WASHINGTON, October 0.-Fourteen to. bacco manufacturers were indicted in the 3 U. S. Circuit Court, at Greensboro, N.C., for reissuing, altering, forging and conne terfeiting tobacco stamps. They pleaded guilty and sentence was suspended till next term. 1 Secretary Thompson was at the Navy Department to-day. ) Alex. II. Stephens had a talk today with the President. CABINET MEETIN&. At the Cabinet session to-day the Presito on was dent's Thursday visit next, the Frederick, spoken Md., of. Fair Sec. retaries McCrary and Thompson and Attorney General Devens will accompany him. The President signed the commission of Robert Sanderson as U.S. Attorney for Montana. DIVIDEND DECLARED. The Comptroller of the Currency has declared a dividend of 10 per cent to the creditors of the First National Bank of , Winchester, Illinois, making in all the dividends 20 per cent. THE VACANT SUPREME JUDGESHIP. f It is well understood that the President has decided on an appointment to the V2cant Supreme Judgeship, but the an: nouncement will not be made until after ) the organization of Congress. The Quartermaster General, in a com munication just published, says that por tions of the roof of the Capitol and a large portion of that of the General Postoffice are liable to a conflagration.

2. October 10, 1877 The Wheeling Daily Register Wheeling, WV

Article from The Wheeling Daily Register, October 10, 1877

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Article Text

Washington Items. WASHINGTON, October 9-Fourteen tobacco manufacturers, indicted in the United States Circuit Court at Greens boro, North Carolina, for reissuing, altering, forging and counterfeiting tobacco stamps, plead guilty, and the sentence was suspended till next term At the Cabinet session to-day, the President's visit to the Frederick, Md. Fair on Thursday next, was spoken of Secretaries McCrary and Thompson and Attorney-General Devens will accompany him. The President has signed the commission of Robert 8. Anderson, United States Attorney for Montans The Comptroller of the Currency has declared a dividend of 10 per cent to the creditors of the First National Bank of Winchester, Ills, making in all N dividend of 20 per cent. It is well understood that the President has decided on an appointment to the vacant Supreme Judgeship, but the announcement will not be made until after the organization of Congress The Quartermaster-Ginneral, in a communication just published, says portions of the roof of the capital and a large portion of that of the general postoffice are hable to conflagration

3. April 13, 1878 Daily Globe Saint Paul, MN

Article from Daily Globe, April 13, 1878

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Article Text

Miscellaneous. WASHINGTON, April 12.-The House committee on naval affairs agreed to report a bill applying $850,000 for purchasing and testing various torpedoes in existence. The House judiciary committee decided to report adversely on Representative Frye's bill referring to the court of claims all claims pending in the sevoral departments. The committee agreed to report favorably the bill exempting postal employes from serving as jurors; also the bill amendatory of the revised statutes 50 as to permit the appointment of an additional assistant attorney general in the post office departments. Senator Thurman's Pacific railroad funding bill was discussed. It was agreed by the committee that no objection would be interposed against a motion to take the bill from the speaker's table and bring it before the House for immediate action, but if that was refused a motion would be made to refer the measure to the juciciary committee. The House committee on Pacific railroads decided to report to the House sinking fund measures, which, though not identical with the same bill. does not differ from it materially. Secretary Evarts returned to-day with his invalid son, who was 50 ill he had to be carried into the house. The committee on territories has decided to limit the examination into the funds of the five Indian nations in the Indian Territory to the school and orphans' funds. Mamea, the Samoan ambassador, took formal leave of the President to-day. A United States steamer will await the ambassador at Panama, and corvey him home and make a survey for the purpose of selecting a naval depot, ceded under the recent treaty of amity and commerce. The comptroller of the currency has declared dividends in favor of creditors of national banks in the hands of receivers, as follows: First National bank of Franklin, Ind., 20 per cent., making in all 40 percent.; First National bank of Winchester, Ill., 10 per cent., making in all 40 per cent. Mamea, the Samoan ambassador, does not credit the report that England has seized Samoa. Subsreiptions to the new loan to-day, $125,000. The secretary of the navy left Washington this morning for Terre Haute, to be absent abont two weeks. Prof. Henry, of the Smithsonian institute, reports the director of the Paris observatory announces the discovery by Coggia, at Marseilles, on the 9th of April, of a planet of the tenth magnitude, 12 hours. 35 minutes right n ascension, 90 degrees, 57 minutes declination with a daily motion of two minutes.

4. April 13, 1878 New-York Tribune New York, NY

Article from New-York Tribune, April 13, 1878

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Article Text

WASHINGTON NOTES. WASHINGTON, Friday, April 12. 1878. The subscriptions to the new loan to-day were $125,000. The House Committee on Patents to-day further considered the bill providing for a general revision of existing patent laws, but reached no definite conclusion thereon. Henry F. Gilley, principal of the American Exchange at London, had an interview with the Presinent to-day. and met with a cordial reception from other prominent gentlemen in official circles. Representative Hiram P. Bell, of Georgia, appeared before the House Committee on Coluage. Weights and Measures to-day in behalf of the establishment of a branch mint at Athens, Ga. The Secretary of the Navy left Washington this morning for Terre Haute, to be absent about two weeks Rear Admiral Howell is Acting Secretary of the Navy in the absence of Secretary Thompson. The House Committee on Naval Affairs to-day agreed to report a bill appropriating $250,000 to be expended in purchasing and testing the various terpedoes in existence, with a view of reaching a conclusion as to the best quality manufactured. The Controller of the Currency has declared dividends in favor of creditors of National Banks in the hands of receivers as follows: Watkins National Bank, Watkins, N. Y., 1212 per cent, making in all 100 per cent: First National Bank, Franklin. Ind.. 20 per cent, making in all 45 per cent; First National Bank of Winchester, III., 10 per cent. making in all 40 per cent.

5. July 10, 1879 The New Orleans Daily Democrat New Orleans, LA

Article from The New Orleans Daily Democrat, July 10, 1879

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Article Text

WASHINGTON. A Circular to the United States MarshalsWhen They Will Get Their Pay. WASHINGTON, July 9.-A. Y. Porter, First Controller of the Treasury, has just issued the following important circular: To all United States Marshals: The appropriations made for defraying the expenses of the courts during the fiscal year ending June 30, 1879, have proved to be inadequate and are now exhausted. Application was made to Congress before the close of the recent session for additional appropriations, but without avail. In consequence of this deficiency your unsettled accounts, now in this office, cannot be paid at present. I confidently expect that the amount needed for the payment of all accounts for the expenses of the courts will be appropriated at the next regular session of Congress, which will begin next December. As soon as the means are provided the sum due you will be paid. Accounts for fees earned after the thirtieth ultimo will be promptly settled when rendered. THE REPEAL OF THE DUTY ON QUININE. Assistant Secretary French has issued a circular to collectors of customs, calling attention to the law abolishing duties on quinine and directing them to take action accordingly. DIVIDENDS OF SUSPENDED NATIONAL BANKS. The Controller of the Currency has declared a dividend of 30 per cent in favor of the creditors of the Commercial National Bank of Saratoga Springs, N. Y., making in all dividends of 60 per cent; also, a dividend of 10 per cent in favor of the creditors of the First National Bank of Franklin, Ind., making in all a dividend of 65 per cent; also, a dividend of 10 per cent in favor of the First National Bank of Winchester, Ill., making in all dividends of 60 per cent. MRS. FASSETT'S PICTURE OF THE ELECTORAL COMMISSION. Mrs. Fassett's famous historical picture of the electoral commission has had a narrow escape from being sold under deed of trust. Mrs. Fassett's husband, who was a photographer, becamo involved and gave a chattel deed on his own and wife's effects to John Hetz, the indicted president of the GermanAmerican Bank, who discounted the note, and this being for a mueh larger amount than the consideration called for, was not met by Fassett. The sale was advertised, but Mrs. Fassett brought a suit in equity and obtained a restraining order enjoining the sale. The matter will be heard in a week or two in the Equity Court, but for the present the picture is safe. THE WINE GALLON vs. THE BEER GALLON. In 1871, the Treasury Department decided to assess the customs duties on malt liquors on the basis of the wine gallon. A recent law of Congress directed that the internal revenue taxes on malt liquors should be exacted on the basis of the wine gallon. Importers of malt liquors claimed that the duty should be assessed on the basis of the beer gallon. The question was referred to the Attorney General who has confirmed the Treasury ruling of 1871-that duties are to be exacted on the basis of the wine gallon in accordance with the commercial usage of the United States.