Bank of Monticello - Monticello, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 20, 1897
Location: Monticello, Indiana (40.745, -86.765)

Metadata

Model: gpt-5-mini
Short Digest: 674f2a45

Response Measures

None

Description

Article (May 26, 1897) reports the Bank of Monticello, Ind. 'busted' on May 20 with deposits $135,000. Text indicates a failure/closure rather than a depositor run; no reopening mentioned. Classified as suspension leading to closure (suspension_closure). 'Busted' implies bank-specific insolvency.

Events (1)

1. May 20, 1897 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Described as 'busted' on May 20 indicating insolvency/failure of the bank; no run described.
Newspaper Excerpt: The Bank of Monticello, Ind., busted May 20, deposits $135,000.
Source: newspapers

Newspaper Articles (1)

1. May 26, 1897 The Representative Saint Paul, Minneapolis, MN

Article from The Representative, May 26, 1897

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Article Text

GOING! GOING! The Bank of Monticello, Ind., "busted" May 20, deposits $135,000. The same day the Bank of Logansport., Ind., suspended-$300,000 on deposit. Great excitement. Panic among people. The depositors ask-Is this the prosperity we voted for? It is wonderful that these fool bankers so completely fooled the people last fall. An army of geese led by idiots.