J. B. Glass (Mount Sterling, IL)

Episode Information

Episode UID
5708384391041
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
570838439 hash
Start Date
September 17, 1886
Location
Mount Sterling, Illinois (39.987, -90.763)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
861ac526bef0f2e0

Response Measures

None

Events (1)
1. September 17, 1886 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Made an assignment for benefit of creditors due to liabilities ~$75,000 exceeding assets ~$60,000.
Newspaper Excerpt
ASSIGNMENT OF A BANKER. CHICAGO, Sept. 17.-J. B. Glass, a banker of Mount Sterling, Ill., this morning made an assignment to J. J. McDonaid for the benefit of his creditors. His liabilities are $75,000 and the assets about $60,000.
Source
newspapers

Newspaper Articles (2)
1. September 18, 1886 Savannah Morning News Savannah, GA
Article from Savannah Morning News, September 18, 1886

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Article Text

A MYSTERIOUS FAILURE. One of the Richest Clothing Firms at San Francisco Assigns. SAN FRANCISCO, Sept. 17.-Julius Baum & Co., wholesale clothers, at No. 9 Sansome street, assigned to Solomon Sweet to-day for the benefit of their creditors. The firm is one of the oldest and largest in the city. It consists of J. Baum. H. Schriere and Morris Schriere, The failure was wholly unexpected, and has caused much surprise among business men. The liabilities are estimated at from $750,000 to $1,000,000. No accurate information on this point is yet obtainable. The cause of the failu re is a great mystery. Even those persons most intimately acquainted with the firm are utterly unable to assign any reasonable cause. Mr. Baum, the senior member, has for many years been considered a very wealthy man, his private means being estimated as high as $500,000. He occupies a handsome residence on Van Ness avenue, and owns real estate valued at $400,000. Ten months ago the firm's balance sheet showed a surplus of assets of $900,000. Their business since has apparently been prosperous. It is therefore believed that some heavy speculations not connected with the business of the house must have been the cause of the assignment. The principal creditors in this city are the London, Paris and American Bank. Daniel Meyer, Bank of California and Sather & Co., private bankers. All of these banks are, however, said to be well selight. cured, The and record their losses, of real if estate any, transac- will be tions to day shows a conveyance by gift by Julius Baum to Sadie Bauer of a lot on Van Ness avenue, south of Bush street, and the sale of the same property by Sadie Bauer and her husband to Louis Sloss. It is explained that Sadie Bauer is Mr. Baum's daughter, that the property was given to her a year ago and subsequently sold by ber and her husband to Louis Sloss, but that the transactions were not placed on record at the time. Several days must elapse before a state. ment of the assets and liabilities can be given. ASSIGNMENT OF A BANKER. CHICAGO, Sept. 17.-J. B. Glass, a banker of Mount Sterling, Ill., this morning made an assignment to J. J. McDonaid for the benefit of his creditors. His liabilities are $75,000 and the assets about $60,000. ASSIGNMENT OF A CONFECTIONER. DANVILLE, V.A., Sept. 17.-J. H. Steinruck. a confectioner, made an assignment to-day. His liabilities are $5,000 and his assets $2,500.

2. September 24, 1886 The Iola Register Iola, KS
Article from The Iola Register, September 24, 1886

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Article Text

THE trial of the great three-cornered Nickel Plate foreclosure suit was begun in the Common Pleas Court at Cleveland on September 15. Millions of dollars are involved in the case. THE report of the Kansas City clearing house on the 14th showed the clearings were`$1,060,141, against $602,338 the corres ponding day last year, an increase of $457,803, or 76 per cent. A BAD fire occurred in Kansas City on September 16, which destroyed the Kaw Valley Soap Works and a portion of the "L" road trestle work. THE Government's final estimates of the corn crop of Missouri and Kansas is as follows: Missouri, 196,861,000 bushels; Kansas, 158,390,000 bushels. RECEIVER THOMPSON, of the closed-up Provident Savings Bank, of St. Louis, says that the depositors will get a respectable dividend during October. W. H. TOBES, editer of the Times, at Greenup, III, was recently arrested and taken to Charleston, charged with publishing a libel on F. A. Allison, a well known prohibition lecturer. A GREAT conflagration raged at Brooklyn, In., on September 15. The entire business portion was burned. The fire consumed the Downing Hotel, the post-office, the elevater and other big buildings. RECENTLY at Woupun, Wis., a widowand two children were crossing a bridge, when a train dashed around a curve, killing them instantly. IT was reported on September 15 that Manager Brown, of the Western Union's St. Louis office, was short and had skipped. THERE is a quiet move among the Western delegates to the general convention of the Knights of Labor to become united upon a plan of action before proceeding to Richmond, Va., where the convention is to be held. The plan suggested is to have all the Western delegates stop over in Pitts burgh and hold a caucus. KANSAS CITY had a grand time on Sep tember 16, it being the big day of the fair. Twentv-five thousand people were at the fair and in the evening over 100,000 blocked the sidewalks to see the parade through the city and the fireworks. A TERRIFIC wind storm swept over Southeastern Michigan on September 16, which eaused great havoc. THE Haddock coroner's jury, at Sioux City, Ia., rendered a verdict recently charging H. L. Leavitt and others with complicity in the murder of the Rev. George C. Haddock. THE State Labor convention which was in session at Neenah, Wis., on September 16, had a very stormy time, charges being made that the State organizer had sold out to the Democrats. THE Chippewa Falls (Wis.) Lumber Company's saw mill was struck by lightning and destroyed recently, causing a loss of $250,000. THE Anti-Saloon Republicans, which met at Chicago on September 16, adopted resolutions strongly condemning the liquor traffic. THE Republicans of the Seventh Wisconsin district have nominated O. B. Thomas for another term in Congrass. GENERAL J. L. PACKABD has been nominated for Congress in the Thirteenth Indiana district. THE Western Export Association (whisky pool) met in Chicago on September 16 for the purpose of limiting the production of whisky. A RELIGIOUS crank in Chicago, named Dr. Arthur Morton, lately proclaimed himself the Messiah who will establish a new Jerusalem in Chicago and run it on the principles of heaven. His following comprises a number of refined and intelligent ladies. A RECENT telegram states that the C. C. Carroll, from Kansas City to St. Louis, struck a snag and sunk a few miles below Glasgow. She will probably be a total loss. MRS. ELIZA OTTARD, aged eighty years, died recently at Galena, III., while kneeling in prayer at her bedside. Cause, paralysis of the brain. SEVEN baggage cars and thirty special sleepers passed through Kansas City on the 18th bearing Knights Templar from the West to the St. Louis triennial conclave. SAM STARR, a notoricus desperado of the Indian Territory, was caught recently by the Cherokee authorities. Large rewards were offered for his body. J. B. GLASS, a Mount Sterling, Ill., banker, recently made an assignment. The liabilities are about $75,000, and the assets $60,000. The losses will fall almost wholly upon people who deposited their savings with him. THE SOUTH. NORTH and West Texas were recently blessed with a heavy rain after a long drought. HENRY SAMPSON, a convict at work on the Georgia Midland road, recently escaped. A match was applied to a tunnel upon which the gang was working and all retreated to a respectful distance. After the blast went off Sampson failed to show up. A bloodhound was put upon his track, but when the dog was again seen he was manacled to a tree with the convict's shackles. A FRENCHMAN, lately arrested in Tennessee for a trivial offense, confessed that he was the murderer of ex-Mayor Bowman, of St. Louis. The crime was committed a