5488. First National Bank (South Bend, IN)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
126
Charter Number
126
Start Date
August 12, 1895
Location
South Bend, Indiana (41.683, -86.250)

Metadata

Model
gpt-5-mini
Short Digest
0f4863c873b9e437

Response Measures

None

Description

The First National Bank of South Bend suspended payment on 1895-08-12 and was subsequently placed in the hands of a receiver (Joseph G. Hein) by early September 1895. Articles report insolvency and receivership; no contemporaneous article describes a depositor run prior to suspension. Later references (1916) still call funds tied up in the suspended First National, consistent with a permanent closure/receivership.

Events (4)

1. November 13, 1863 Chartered
Source
historical_nic
2. August 12, 1895 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended payment; officers said depositors would be paid in full, indicating insolvency/financial failure rather than a temporary rumor-driven run.
Newspaper Excerpt
The First National bank of South Bend suspended payment this morning.
Source
newspapers
3. September 3, 1895 Receivership
Newspaper Excerpt
The First National bank of South Bend has become insolvent and has been placed in the hands of Joseph G. Hein, receiver.
Source
newspapers
4. January 12, 1932 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (5)

Article from The Seattle Post-Intelligencer, August 13, 1895

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Article Text

BANK FAILURE AT SOUTH BEND. First National Closes Its Doors: and Will Pay Depositors. South Bend, Aug. 12.-The First National bank of South Bend suspended payment this morning. The officers say depositors will be paid in full. The First National is the principal bank of South Bend. Its capital stock is $50,000. R. H. Espay is president: A. M. Elklund, jr., vice president; R. A. Carney, cashier.


Article from Mineral Point Tribune, August 15, 1895

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Article Text

BRIEF BUT NEWSY. Lucian Bonparte Weis died in Paris. Hail caused much damage in Nebraska. Japan will build twenty-two more war ships. A half-million dollar fire occurred at Newark, N. J. Canada's foreign trade has increased notably. Senator Brice and his friends will control the Ohio democratic convention. Pittsburg iron workers have discovered the lost art of welding copper to iron and steel. The umpire of a baseball game at Terre Haute was mobbed .nd ceveral men were injured. Mayor Sutro, of San Francisco, has donated land worth $1,500,000 for educational purposes. The condition of Congressman Hitt, of Illinois, continues to improve and he is now able to sit up. Bishop Messmer confirmed a class of 300 at St. Patrick's church (Catholic) in Green Bay Sunday. Gen. Campos was given an ovation at Havana, and in a speech talked disparagingly of the revolutionists. An ex-temperance lecturer, wanted for ten years in New York state for forgery, returned and gave himself up In the twenty mile bicycle race at Minneapolis Burney Bird, of St. Paul, broke the world's record, making the distance in 54:17. The First National bank of South Bend. Ind., has suspended payment. The officers say that the depositors will be paid in full. The thirtieth anniversary of the ordination to the priesthood of Rev. Clement Lau of the Green Bay cathedral will be celebrated today. Dr. D. L. Manchester, one of the oldest physicians of Waupaca. Wis., died of heart trouble, aged 62 years. He had been a surgeon of the Wisconsin veterans' home from its institution until July, when he resigned on account of poor health.


Article from The Silver Blade, September 7, 1895

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Article Text

CONCERN WASHINGTON AND IDAHO Bank Officers Changed-Army Officers Transferred. Washington, D. C., Sept. 3.-L. R. Manning has been made president of the Pacific National bank at Tacoma in place of Frederick Mottet; O. B. Hayden, second vice president; L. J. Pentecost, cashier, in place of L. R. Manning, and A. G. Prichard, assistant cashier. The Chemical National bank of New York has been approved as reserve agent for this bank. The First National bank of South Bend has become insolvent and has been placed in the hands of Joseph G. Hein, receiver. The Idaho National bank of Pocatello has gone into voluntary liquidation by resolution of its stockholders, dated July 19, which took effect August 5. Captain Gunliffe H. Murray, Fourth cavalry, has been detailed to the recruiting station at No. 158 Church street, New Haven, Ct. Captain Leon A. Hatile, Fourteenth infantry, has been detailed as a recruiting officer to establish a station at Richmond, Va. These details go into effect not later than October 1. Leave of absence for two months from September 1 has been granted First Lieutenant Frank Owen, Fourteenth infantry. Private James Finley has been transferred from Fort Leavenworth, Kan., to Company G. Fourteenth infantry, Vancouver barracks. Original pensions have been allowed Warren Partch of Toledo, Lewis county; William McG. Colwell, Skamokawa, Wahkiakum county, and Archibald A. Stewart, Tacoma. Charles Clooman of Kalama, Cowlitz county, and Frank M. Werel of Hockinson, Clarke county, receive an increase. A renewal and increase has been granted Samuel Howlet of Castle Rock. The following reductions have been ordered: Ephraim Ranck of Roy, Pierce county; Joseph Phillips of Spokane.


Article from The Seattle Post-Intelligencer, December 1, 1895

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Article Text

# South Bend Politics. South Bend, Nov. 30.-Special-Another ticket has been put in the field for the coming city election, with the object of economizing somewhat on city expenses, In spite of the refusal of the city council to reduce salaries. The state law allows the treasurer in third-class cities $25 per month, which it is generally conceded is too much, considering the small responsibility and light duties. The present incumbent, who is also a candidate for re-election, has the city funds tied up in the suspended First National bank, and he and his friends will make a strong fight to prevent the suit against him, which must inevitably come when he goes out of office and has to deliver the funds to his successor. L. A. Smith was nominated for treasurer on the business men's ticket. It is an understood thing that he will serve for $10 per month, and return the remainder of his salary to the city, although the law does not permit him to publicly pledge himself to that course. The other nominees are: For clerk, W. E. Brown; for councilman, Gus Meisner.


Article from South Bend News-Times, April 14, 1916

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Article Text

AND IN HAPPENINGS North Liberty Couple Celebrate WILL CONFER ON FUNDS OF PLOW Golden Wedding Anniversary SOCIAL WELFARE CO. ARE TIED UP Prominent Workers Will Meet Bankers Appear in Receiverat High School Sunday ship Hearing to Testify For Plaintiffs. and Monday. Prominent social workers will be That the savings funds of the in the city Sunday and Monday to South Bend Chilled Plow Co. had attend the St. Joseph county social been tied up by the Casaday interwelfare conference at the high ests pending the outcome of the reschool and the Progress club. The ceivership and accounting suit filed session will open Sunday afternoon at 3 o'clock with a general meeting by Mrs. Maria Casaday, administraat the high school, At that time trix of the estate of W. L. Casaday, Judge Willis C. Mahan of the Lake was revealed in the course of the county circuit court, will talk on hearing Friday morning. "Some Problems of the Court." Miss Eugene Miller, treasurer of the Grace Osborn of the Indiana society American Trust Co., and Charles L. for the Study and Prevention of TuZigler, cashier of the First National berculosis, will speak on "Tuberbank. were placed on the stand by culosis in St. Joseph County." Marthe plaintiffs. Mr. Miller testified vin Campbell will preside. that the savings funds in the AmerMonday morning's meetings will ican Trust Co. were in the neighbe held at the Progress club. W. E. borhood of $15,000, and Mr. Zigler Miller of the St. Joseph county said that approximately $20,800 was juvenile court, will talk on "Delindeposited in the First National. quent and Dependent Children." His MR. AND MRS. M. C. FRANK. The funds were tied up, it was address will be discussed by Rev. H. revealed by the testimony of the L. Davis and J. C. Kennedy of MishMr. and Mrs. M. C. Frank will enThey were married April 15, 1866, bankers, by a notification, signed by and lived on a farm southeast of awaka. "Truancy" will be discusstertain their friends and relatives at Mrs. Casaday, being presented to the ed by Frank Wolfe and Mrs. Rose North Liberty until about three their home in North Liberty Friday bank, directing that the funds should S. Grimes of Mishawaka. Miss Olive years ago, when they moved into not be allowed to be withdrawn beand Saturday in honor of their Bailey, who has been in charge of North Liberty. cause there was no legal board of the Children's Dispensary, will talk golden wedding anniversary. One of Mr. and Mrs. Frank were the perdirectors. The notifications, which their daughters, Mrs. J. P Whiteon "The Children's Dispensary." Dr. ents of seven children, three of were drawn up on letter heads of Charles Hansel and Mrs. Arthur man, 213 Stover ot., is celebrating whom are living. Besides Mrs. J. P. the plaintiff's attorneys, were preher 25th wedding anniversary at the Perley will discuss the subject. F. Whiteman of this city, there are two sented to the banks by Oliver Cassame time. B. Barnes, municipal recreation diother daughters, Mrs. Frank Ewing aday, the witnesses testified. Mr. Frank was born in Lancaster, rector, will speak on "Recreation of Valley Garden, Ind., and Mrs. Exhibits Are Allowed. Pa, Aug. 30, 1844, and moved to Work with Children," Mrs. Lafayette Harvey Houser of North Liberty. The defense sought to prevent There are 14 grandchildren and LeVan will preside. Starke county, Ohio, with his parthese notifications becoming a part ents when he was six years old. In At 11 o'clock Monday morning, four great grandchildren. of the evidence as exhibits, brandDr. Ceoll C. North, professor of soMr. Frank has now given up ac1863 he came to St. Joseph county, ing them as a palpable attempt to where he has resided ever since. ciology at DePauw university, will tive farming and spends most of the manufacture evidence after the case Mrs. Frank was born in Starke talk on "Community Organization." spring and summer in working had been set for trial. Judge Walter Correctional work will be taken up county, Ohio, Sept. 15, 1842 and around his little garden. His wife A. Funk, before whom the trial is at the Monday afternoon session, moved to St. Joseph county with her has a flower garden which occupies being conducted, overruled the oball of her time. which begins at 2 o'clock at the parents when she was six years old. jections. Progress club. Judge Herbert WarThe two bankers were asked ner of the city court will discuss whether "it was their purpose of "Court Work" Mrs. Minnie Evans, mind to abide by these notifications TO GIVE BAZAR FOR South Bend pollcewoman, will speak DEATHS and refuse to allow money to be on "Correctional Work with Girls." TEUTON WAR SUFFERERS drawn out." Mr. Miller replied in Mrs. S. B, Stimpson of Terre Haute, RODERICK K. ANGUS. the affirmative as did Mr. Zigler but will discuss "Causes and Prevention Roderick K. Angus, 1305 Elmer the latter qualified his answer by Affair Will be Held at Turner Hall of Delinquency." st., died at 11:20 o'clock Thursday saying that "the First National bank Problems of relief work will also May 15 to 20th-Many Sohad friends on both sides of the suit, night, following an illness lasting 14 be considered at that meeting. Dr. months. He was born in Scotland and we do not care to get mixed up cieties to Participate. J. A. Duggan and Mrs. Victor Jones in the suit. "We would," Mr. ZigJuly 13, 1884, and had lived in this will discuss "The Prevention of Tucity four years, coming here from ler continued, be willing to pay into berculosis." Following their talks the court the funds in the bank to A bazar for the benefit of the sufChicago. He is survived by his wife, there will be & general discussion by Janet, three children, Stewart, Wilsatiefy both parties. ferers in Germany and Austriathe following: J. B. Witwer, townJohn B. Oren, son of Mrs. Sarah liam and Margaret, and his parents, Hungary will be held at the Turner ship trustee; Miss Annabel Tracy of J. Oren, cross complainant in the Mr. and Mrs. Stewart Angus, hall in South Bend from May 15 to Walkerton; Rev. A. G. Schafer of Funeral services will be held at present suit, testified in the hearing May 20. The following organizations New Carlisle: G. W. Kalezynski, the Orvis chapel Sunday afternoon Friday morning. He told of several and societies have already consentMiss Leila Soott of the Associated conversations with A. D. Baker, in at 2 o'clock, Rev. T. J. Parsons offied to participate: Charities, and D. L. Guilfoyle. which the witness said, Mr. Baker clating. Burial will be in Riverview Bavarian Benevolent society; "Social Cooperation and the Reproposed that he should become a cemetery. Deutscher Fortbildungs Verein, construction of the Family" will be director in the corporation. Mr. Suavian Benevolent society, Turner the subject of a talk by Rev. J. C. Oren also said that Mr. Baker reVerein, S. B. Maennerchor, St. McGinn of Notre Dame at the Monmarked that it was his purpose to FUNERALS John's society, Croatian society, Sons day evening meeting at the high have George Cleveland named as a of Herman, St. Peter's society, Robschool. Judge G. A. Farabaugh will MRS. RACHAEL BOURDRAY. director for the Casaday interests, as ert Blum lodge, I. O. O. F., Linden discuss the subject. Dr. George S. Sam Perley, whom the Casadays Funeral services for Mrs. Rachael camp, W. O. W., St. Stephen's soBliss. superintendent of the feebleproposed was impossible, and in that Bourdray will be held Saturday afciety, Carl Schurz encampment, I. minded school at Fort Wayne, will way the Casadays would get to fightternoon at 1 o'clock from the resiO. 0. F.. Ladies of Sons of Herman, make an address on "Feeble-Minddence and at 2 o'clock from the ing among themselves and forget all Ladies of Turner Verien, Helene edness." Dr. J. B. Berteling will about me, (Baker.) Rebekah lodge, Bavarian Ladies' soChristian church at Lakeville. Rev. preside at this meeting which onene