First National Bank - Mount Vernon, IN

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 366
Charter Number: 366
Start Date: February 2, 1899
Location: Mount Vernon, Indiana (37.937, -87.895)

Metadata

Model: gpt-5-mini
Short Digest: 3e3d72ae

Response Measures

None

Description

Article (1899-02-02) describes the 'wrecked First National bank of Mount Vernon, Ind.' and legal proceedings against its cashier; no run is mentioned. The failure appears tied to cashier/bank-specific misconduct noted in the trial, so classified as a suspension that resulted in permanent closure.

Events (4)

1. April 5, 1864 Chartered

Source: historical_nic

2. February 2, 1899 Other

Newspaper Excerpt: Judge Baker, on a motion of United States District Attorney Wishard, nolled the case against Cashier Rosenhanz of the wrecked First National bank of Mount Vernon, Ind.
Source: newspapers

3. February 2, 1899 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank described as 'wrecked' with legal proceedings against its cashier (Rosenhanz) suggesting misconduct or losses tied to the cashier's actions.
Newspaper Excerpt: the wrecked First National bank of Mount Vernon, Ind.
Source: newspapers

4. November 30, 1923 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. February 2, 1899 Northern Wisconsin Advertiser Wabeno, WI

Article from Northern Wisconsin Advertiser, February 2, 1899

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Article Text

callie are in condition for the market. A swindler calling himself W. B. Deming opened a broker's office in New York some time ago and ordered shipments of goods from various western agents. They, supposing him tc be William B. Deming, a reliable broker, complied. He has disappeared, and is said to be indebted $100,000. At Sacramento, U. S. Grant, Jr., testified before the committee to investigate the senatorial scandal. He admitted having supplied his manager, J. Green, with money to be expended legitimately for the election of a republican legislature, and having advanced money to Speaker Wright. The Philadelphia North American, oldest newspaper in America, has been transferred to R. E. A. Dorr, publisher of the New York Mail and Express, and the firm of Clayton McMichael & Sons has dissolved. The paper descended from the Pennsylvania Packet and General Advertiser, whic.. started in 1771. Alaskan mail facilities will be greatly extended by a contract made by tue government with the Pacific Steam Whaling company, which provides for a postal service to the Aleutian islands. A monthly mail will leave Sitka for Yakuta, Mithcik, Sand, Valdes, Zlodovia, Kodiak Karluk, Sand Point, Unalaska, etc. An application for a receiver for the Wabash Valley Gas company, the Die) terich syndicate, with $1,750,000 capie tal, was made in the United States court at Baltimore by the American Bonding and Trust company of Baltimore. This is the syndicate that cont trols most of the natural gas companies in the Indiana cities and which e was reported last week to have bought up all the electric light plants in e eastern and southern Indiana and Ohio. it One of the members of the Canadian e end of the American-Canadian joint o high commission said that he did not expect an agreement on the questions pending before the commission unless e the United States commissioners shall agree to free lumber. The commissioners said in SO many words that the S subjects under consideration have been practically agreed upon, or are in e such shape that an agreement can be reached at any time, provided it is d shown that the Canadians can secure free lumber. At Evansville, Ind., in the circuit court Judge Baker, on a motion of I United States District Attorney Wishard, nolled the case against Cashier e Rosenhanz of the wrecked First National bank of Mount Vernon, Ind. The district attorney declared his belief that Albert Wade, found not n guilty by a jury, was the guilty man. Judge Baker declared that Wade ado mitted his guilt in his testimony, and S that the jury was influenced by his it wealth and influence. As a result of the semi-annual exemination of cadets at the West Point military academy, it has been recomy mended that the thirteen of the memr bers of the second class found deficient. be continued at the academy. In the third class eleven members proved deficient, and it is recommended three of these be discharged while the others remain to make up for ded ficiencies in studies. Six members of the fourth class failed to pass the required test and it is recommendeu that all be discharged.