Bank of Exira (Exira, IA)

Episode Information

Episode UID
6770251091069
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
677025109 hash
Start Date
January 22, 1889
Location
Exira, Iowa (41.591, -94.876)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f2ce86b80ede33b5

Response Measures

None

Events (1)
1. January 22, 1889 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended/failure reported with liabilities ~ $28,000; described as a collapse/failure in local press.
Newspaper Excerpt
The Bank of Exira, Io., has suspended, with liabilities of $28,000.
Source
newspapers

Newspaper Articles (2)
1. January 23, 1889 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, January 23, 1889

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Article Text

FORCED TO THE WALL. Business Firms Pushed Over the Edge of the Bowl Into the Bouillon. ST. LOUIS, Jan. 22.-The firm of Rosenthal & Co., dealers in carpets, has made an assignment to Walter M. Hessel. The liabilities are placed at about $60,000 and the assets considerably less. DES MOINES, 10., Jan. 22.-E. F. Ennis, general merchant of Holstein, has assigned. He has been quoted at from $10,000 to $20,000, and had unlimited credit. The Bank of Exira, Io., has suspended, with liabilities of $28,000. CINCINNATI, Jan. 22.-George and William F. Kepler, proprietors of Kepler's hotel, West Fourth street, have assigned to Thomas B. Paxton. Liabilities estimated $30,000; assets about equal. Chattel and real estate mortgages were given amounting to $16,000. Special to the Globe EAU CLAIRE, Wis., Jan. 22.-Camp bell Bros., loggers and owners of sawmills near Canton, on the Sault Ste. Marie road, assigned to Emmit Horan, of this city. Liabilities, $8,000; assets, $13,000. LOCKPORT, N. Y., Jan. 22.-The failure of William McRae, of this city, is only a question of a few hours. He is a large railroad contractor and waterworks builder, associated with Lally & McRae. The firm now holds contracts for nearly $1,000,000 for the erection of waterworks in Dallas, Tex.; Covington, Ky.: Emporia, Kan.; and for railroads between Grand Rapids and Grand Ledge, Mich.; and from East Saginaw to Durand, the same state. The failure is a personal one, involving only $50,000 worth of debts. This, Mr. McRae says, his personal estate can easily pay. He was forced to make an assignment through his inability to raise $40,000 to relieve the lumber firm of William McRae & Co. The lumber firm has been losing largely for the past five years and was heavily in debt. Mr. McRae will assign to H. H. Flagier, who will, as assignee. have supesvision over his interest in Lally & McRae. CHICAGO, Jan. 22.-John W. Riggs, dealer in hats, caps and furs, assigned to-day, with liabilities about $18,000 and assets about $13,000, consisting of his stock in trade. The failure is due to the mild, open winter, which prevented the sale to any extent of winter goods in the fur line. About one-half of the liabilities are due in New York and elsewhere in the East. CHICAGO, Jan. 22.-James H. Rice was to-day appointed receiver for Gore's hotel in the suit of James G. Gore against his partner, Patrick H. Heffron. The receiver was required by the court to give $25,000 bonds.

2. January 31, 1889 Audubon County Republican Audubon, IA
Article from Audubon County Republican, January 31, 1889

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Article Text

The North-Western sent out a special stock train Sunday. Col. White has been very low during the past week. Wm. Doak started for Pennsylvania Tuesday on a visit to the old home. R. J. Creveling is wielding the cleaver in his absence. Sovereign started to move the Industrial West printing office to Council Bluffs last week, when Thos. Meredith came down upon the concern with a chattel mortgage. The trouble will probably be settled up. Oscar Hunt, of Greeley township, is impressed with the truth that misfortunes never come singly. He lost $225 by the collapse of the Bank of Exira, and a few days afterwards his best cow committed suicide by hanging. The press of the county will yield the palm to a Brayton correspondent, who sends the following item to an exchange. "A hen at Ike Hallock's homestead hatched out a brood of chickens under a blossomed out apple tree January 20." The boys at the Rock Island depot are cranks on gathering calendars, and now have a variety of about thirty. Their fad is now tending toward almanacs of any age or in any language. Contributions to their selections will be thankfully received. Forty business men of Manning have organized a society for the relief of the managers of the Louisiana State Lottery and will premeditatedly and with foolhardiness aforethought blow in $40 per month. O. E. Dutton, a bank cashier, is treasurer, of this society of gullibles. Mr. R. C. Cobean died at his home in this city yesterday at 11:30 a. m., after a brief illness. The funeral will be held at the Presbyterian church tomorrow (Friday) at 2 p. m., Rev. Dickinson delivering the sermon. The ceremonies will be under the auspices of Allison Post, G. A. R. Obituary next week. Dr. Emmert was summoned from Atlantic Tuesday to counsel with Dr. Rendleman concerning the condition of Wm. Cloughly, who has been prostrated since the death of his brother. His illness is considered only the result of labor and excitement, and with the proper amount of rest he will soon be about again. Octavius Phineas Waitman was in town Saturday with a rich bay growth on his virgin cheek and chin, and which does not appear to have been curried since the fall races. It is understood that a surgical operation was performed to make way for each individual hair through the porcelain surface of his bland cheek. A special train of stock was shipped over the Rock Island Sunday morning, Wm. G. Cameron shipping four loads, J. G. Sharp 4, W. H. Graham 1, and Fred Searls 1: two cars were taken from Exira and four from Brayton. Other than the shippers B. F. Howald, W. H. Neff and August Nitzell went in to see the sights of the big town. Bro. Guernsey's loss by the bank failure is something over $400, instead of $21.35 as shown by the article of assignment. At the time the crash came Guernsey was swaggering around town with a $400 check on the bank, signed by John Connrardy, and which he has since used as a cigar lighter. We understand that Connrardy and Guernsey will share the loss. John and Jacob Albright will both rest from farming for the present year. The wife of the former will be an invalid for some time from the effects of diphtheria, while the wife of the latter is well nigh heart broken on account of the loss of four children by the same disease. Mr. Jacob Albright will soon return to the old home in Johnson county to remain a year. A row occurred in Joe Loch's saloon at Manning on the evening of Monday, the 21st, between Aaron and Frank McCuen, of Lincoln township, this county, and other parties whose names are not given. Loch attempted to quel the riot, as report goes, when he was struck on the head with a billiard ball, and now comes the report that Loch died Saturday morning from the injuries. The McCuens were placed under $500 bonds to appear before the district court convening at Carroll Feb. 27. Mrs. W. H. S. Bedwell has been afflicted with a tumor growing immediately under the right arm for six months, and while it has not been a serious inconvenience or source of pain its early removal was advised in view of probable results. Drs. J. D. Holmes and A. L. Brooks performed the operation Monday forenoon, and it proved most successful, so that the patient is rapidly recovering from the effect. In the comparatively short time the growth had attained the size of an egg, and doubtless ere many months its effect would penetrate the entire system. All parties interested are congratulated on the success of the very heroic treatment. The city election is the next subject for the attention of local patriots. Mayor Armstrong has been a most efficient officer, and without opposition will, we presume, be given a second term. The retiring members of the council are Messrs. W. H. Scott and C. H. Russell. The latter has served but one term, is a good officer, and will be re-elected. Mr. Scott is the pioneer member of that body and is considered one of its most able connselors. A great many will be pleased to see him re-elected, if he will consent to run. Unless unlooked for circumstances shall occur the muncipal election will be but a formal endorsement of present efficient officials. The day after tomorrow in accordance with a time honored custom, the historic groundhog will evacuate his winters quarters if he may be supposed to have established such a domicil in this phenomenal year and perambulate the front yard. If he sees his shadow the fad decrees that he will return to his hole and maintain his winter home for six weeks; it the shadow is not visible he will remain outside enjoying mild weather the rest of the season. It may be inferred that a shadow in this par-