6275. First National Bank (South Bend, IN)

Bank Information

Episode Type
Suspension → 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
7b820d5b

Response Measures

None

Description

The First National Bank of South Bend suspended payment on 1895-08-12 (news reports say it closed its doors and suspended payment). Subsequent reporting (Sept. 3, 1895) states the bank has become insolvent and has been placed in the hands of Joseph G. Hein, receiver, indicating it did not reopen and entered receivership. No explicit run (large depositor panic) is described in the articles; cause for suspension is insolvency (bank-specific adverse information).

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 and closed doors due to insolvency as reported; officers said depositors would be paid in full but later reports call it insolvent.
Newspaper Excerpt
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.
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 (4)

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.