Exchange Bank (Angus, IA)

Episode Information

Episode UID
6380080791124
Episode Type
Suspension โ†’ Closure
Bank Type
trust
Bank ID
638008079 hash
Start Date
August 9, 1893
Location
Angus, Iowa (41.883, -94.157)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
dd68f1bc42b7acc1

Response Measures

None

Events (1)

1. August 9, 1893 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank 'assigned' for benefit of creditors (assignment indicates voluntary winding up/closure).
Newspaper Excerpt
The Exchange bank at Angus, Ia., have assigned.
Source
newspapers

Newspaper Articles (3)

Article from The Portland Daily Press, August 10, 1893

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Article Text

A Dishonest Man's Honest Wife, Concord, N. H., August 9-A prominent lawyer of Manchester says the wife of Chas. F. Morrill, the missing cashier of the Bank of the Commonwealth, has a valuable property in her own name, including about $30,000 worth of first class real estate in Manchester, and that she has expressed her willingness to surrender all for the benefit of the financial institutions with which her husband was recently officially connected. Rates Go Up. New York, August 9. .-The national banks of this city announced this morning that they had decided to increase rates on call loans of recent date to 12 per cent per annum, and on those of long standing to 10 per cent. The reason is that so many persons have shut down on the banks that they are compelled to do this for self-protection. Reported Yesterday. The Standard Manufacturing company of Kansas City, dealers in agricultural implements, have assigned. The Indianapolis cabinet works, with many branches in the United States, and one in London, is in a receivers hands. A.D.Baker, proprietor of the South Bend, Iud., wagon works at Milwaukee, has assigned. Liabilities $120,000: assets $55,000. The bank of Colfax, Washington, with securities more than ample to balance all liabilities, has temporarily closed its doors. 5 The Commercial, bank at Perry, Ia., and the Exchange bank at Angus, Ia., have assigned. At Martinsville, Ind., Mitchell's bank will go into voluntary liquidation. It has on hand twice as much cash as deposits. The Pemberton cotton mills, at Lawrence, Mass., on Saturday will close down for three weeks, owing to extreme difficulty in obtaining currency to pay the employes weekly, according to law. The mill employs 710 operatives.


Article from The Madison Daily Leader, August 10, 1893

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Article Text

Small Assets. SOUTH BEND, Ind., Aug. 10.-A. D. Baker, proprietor of the South Bend wagon works at Wishawaka, has made an assignment. Liabilities, $120,000; assets, $55,600. G. W. Baker of this city was appointed receiver. lowa Failure. PERRY, Ia., Aug. 10.-The Commercial bank, a private institution, has assigned. Assets $69,340; liabilities, $40,050. The Exchange bank of Angus also assigned. ...TEST MARKET PRICES


Article from Bismarck Weekly Tribune, August 11, 1893

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Article Text

Iowa Failure. PERRY, Ia., Aug. 9.-The Commercial bank, a private institution, has assigned. Assets $69,340; liabilities, $40,050. The Exchange bank of Angus also assigned.