National Bank (Bloomington, IL)

Episode Information

Episode UID
81900885
Episode Type
Suspension โ†’ Reopening
Bank Type
national
Bank ID
8190 national
Charter Number
819
Start Date
September 20, 1873
Location
Bloomington, Illinois (40.484, -88.994)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7f8a9a63f10de458

Response Measures

None

Description

Articles span different years (1873 and 1934) and discuss city-wide banking suspension in 1873 and a receivership/rehabilitation program in 1934 for local national-bank institutions.

Events (4)

1. February 18, 1865 Chartered
Source
historical_nic
2. September 20, 1873 Suspension
Cause
Macro News
Cause Details
Regional/national panic of September 1873 led to temporary suspension or restricted payments by local banks; banks later resumed full payments.
Newspaper Excerpt
BLOOMINGTON, Ill. Sept. 20.- banks ... resumed full payments to-day, this city financial looks hopeful ...
Source
newspapers
3. January 13, 1931 Voluntary Liquidation
Source
historical_nic
4. April 25, 1934 Receivership
Newspaper Excerpt
First National bank receiver ... Alfred D. Hills, First National bank receiver, to the national banking department ... Waivers on more than 75 percent of the old First National Bank Trust company's deposits been obtained ... new National Bank of Bloomington is expected to begin functioning late in May (The Pantagraph, 1934-04-25).
Source
newspapers

Newspaper Articles (2)

Article from Chicago Daily Tribune, September 30, 1873

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Article Text

tho they do. No leaf tobacco month. has been in Nashville good market in the past WESTERN COUNTRY BANKS. CEDAR RAPIDS, 1A. Dispatch to The Chicago Tribune. CEDAR Special RAPIDS, Ia., Sept. 20.-Privato announcing dis- repatches from Chicago to-day, had a very by some of the banks there, manifost sumption encouraging effect here. Bank latter officers portion of less anxiety than currency during in the some of the banks inlast week, and rather than diminished restored. to-day, dicating has increased that confidence is being FOND DU LAO, WIS. Dispatch to The Chicago Tribune. Special LAC, Wis., Sept. 29. business response men to FOND DU by a large number of of Fond a call signed heaviest depositors. the bankers emal and the decided this morning to pay receive only for du Lao in currency, and to certify on each and other. The sums all purposes has passed certified quietly, checks the plan working well, with day no indications of a run. BLOOMINGTON ILL. in Dispatch to The Chicago Two Tribune. Special Ill. Sept. 20.- banks and BLOOMINGTON, rosumed full payments to-day, this city financial looks hopeful hore. everything BPRINGFIELD The Chicago ILL. Tribune. Special Dispatch to 29 :-There was no oxciteSPRINGFIELD, to-day Sept. at all, and tho is banks believed moved that is fully confidence mont on smoothly here and confidently. rostored, It and no further some unlooked-for trouble is anticipated unless The deposits to-day were largely event should in excess happen. of DUBUQUE, the amounts IA. paid out. Tribune. this one Special Dispatch to The 29. Chicago The banks of DUBUQUE, In., exception Sept. of the Merchants' Nor BB usual. to-day city, tional with and the Dubuque Savinga The Banks, panto are is doing over. with the National business A committee of the Merchants Examinor, M. O. Dering, are of United States Bank the condition engaged to-day in examining disparaging to the of management well that bank. A thousan the bank rumors are afloat, and it Thore is to founded. doop feeling be feared somo of of them insecurity are among depositore. is The truth will BOOLL be known. MINN. ST. PAUL. Chicago Tribune. Special Dispatch 29. to The The financial situation is unchanged. ST. PAUL, Sept. City banks to-day than Inst were week. more The oral with their Minneapolis customers banks were expecting contrareport that suspend o-day is explicitly confident foolSaturday to commorcial circles a and dictod. In that the worst is over, from all Chicago. classes ing prevails are encouraged by to-day's reports MCGREGOR IA. Tribune. Special Dispatch Sopt. to The 29. Chicago Il checks that have McGREGOR, In. to the First National The Bank bank been presented been paid promptly. meet all this in city good have condition, and fully able to domands. SAGINAW, Sept. SAGINAW, banks, 22. MICH. which Everything are doing is their quiet regular at our business two in cities the old discloses way. the of visit to the during banks the of the excitement the of banks Friday were and Saturday, fact that, the deposits of of nine the currency drain out. considerably in excess KEOKUK. of 20.-The excitoment KEOKUK, has In. given Sopt. way toa feeling of confidence no furSaturday There have been the monand encouragement indications of a run on the banks, almost entirely business ther oy drawn out having been transactions. used The deposbanks for have ordinary been larger than usual, than and at the the opening had its more money The at news the close from all quarters the general is roof business. with much satisfaction, and AURORA. conviction colved here is that the panic is over. very Ill., Sept. Financial Merchants nro matters are dousual, AURORA, quiet in Aurora to-day. and taking 08positing in the to draw banks as as little as possiblo deposit from t social pains Orders have been given Burlington to & the banks. earnings of the Chicago, National, of this the Quincy Railway in the ordore. First The Company will city, commence until paying further their employes at will the pay eastern about end of the road, the month and it is as expected usual. The corporation, distribuas early 8100,000 in from this railroad people to tion of in Aurora, causes our with interest. each study month, the pocuniary prospecte of this Company YONKVILLE, ILL B III., Sept 29 No bank-suspension and too to here. YORKVILLE, Too much grain in this make region, it necessary to much money Thirty flowing -loade in of corn aud oatswere A. Godsuspend. from this place last week by J. this week. y shipped and thirty more will be shipp than ed two weeks dard, Prices are but a fow cents being lower made upon the past o 22 conts. week's ago. Settlements transactions, are with corn at 30, and oats at COLUMBUS, o. The trouble financial of COLUMBUS had o. but Sept. very alight effect upon propared this d city. has as While yet all the banks precaution have been has proved for a run, thus Instead far this of disastronaly affecting unnecessary. establishments, there is the usual find manufacturing and all skilled mechanics d work going their on, labor. New manufactories full are demand for and all old ones are running being of built. and cannot fill their orders. caud sets hands, banks buy Eastern exchange very Our and discount scarcely any paper. tionely, been no concorted action among the its is own affairs. bankers, There has each firm proferring to attend to JEFFERSONVILLE, IND. 20 First The ir JEFFERBONVIL Ind., Sept an hour later National Bank of this city opened declined to pay 10 this morning, and account of than usual except for email amounts, on National ly a checks scarcity of currency. The Citizens' upon it. the meeting all demands made Car & 10 la Bank It is is reported that the Ohio Falls all oporations Lo- nt that to mammoth comotivo Company concern, will suspond thoreby throwing 700 to men out of employment. ILL oPEORIA, Ill. Sept. PEORIA, 29. Our banks had here occurred. are toin day doing business general BB if nothing thing, run larger than to 0The the amounts deposits, drawn, ne a and confidence in the solvoncy of our bauks is fully ILL. rostored. Sept. CAIRO, 20. In compliance this with morn- the to to banks ly resolutions CAIRO, III., adopted by the Chamber suspond currency g. ing. requesting the two the National Banks of this adopted city an 80 payments, will to-day adopt a plan other similar citios, to giving that certified drafts in Cincinnati or exchange and in payment of chocke. DEB MOINES, IA. all Special D{spatch to The 39. Chicago Monoy Tribune. matters ed DES MOINES, to-day. Sept. A large majority all of the amounts lown In to the panio, banks quiet here have not stopped paying nearly out all the emaller the depositcities, co. go sized during towns, and in banks some large of amounts on timen, ors checks are drawn owing to the purchase grain, live stock, and goods. on he ABROAD. LONDON, Sept. 20 ยฃ225,000 in bullion were a-


Article from The Pantagraph, April 25, 1934

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Article Text

SUFFICIENT WAIVERS FOR BANK OBTAINED OPENING NEXT MONTH LIKELY Sale of Stock and Other Places in Program Also Completed. Waivers on more than 75 percent of the old First National Bank Trust company's deposits been obtained, and the new National Bank of Bloomington is expected to begin functioning late in May, Grover C. Helm. chairman of the decommittee, announced Wednesday. Fifty percent waivers have been signed $1,265,000 worth of the old bank's accounts by the depositors. As such waivers were required on only 75 percent of the old bank's total of $1,630,000 deposits or the accounts which have been voluntarily waived by the depositors are $43,500 above the minimum set. telegram sent by Alfred D. Hills. First National bank receiver, to the national banking department, Washington, D. C., pointed out that federal requirements for the formation of the new bank have been met as follows: 1. More than 75 percent of the old bank's deposits have come under the waiver plan. Stockholders of the old bank have subscribed to $50,000 in stock in the new bank. Stock Oversubscribed. 3.1 The balance of the common stock has been oversubscribed. Depositors asked to purchase $62,500 worth of stock in connection with the waiving plan. This has been 10 percent, Mr. Helm Finance has to buy $75,000 in preferred stock. Two fifty thousand dollars has been on the liability of the old bank's stockholders. Application for the new bank's national charter has mailed. Assets liquidation has been sufficiently accomplished to make unnecessary the securing an RFC loan, as contemplated earlier in the organization program. Seek Waivers on All. "The depositors' committee.' said Mr. Helm. "is appreciative of the popular on the part of the depositors to the waiver program. In our with the depositors, they have shown deep of our problems. They have readily seen the advantages of the organization program over the alternative regular liquidation of the old bank "For the purpose of adding further prestige to the program and the National Bank of Bloomington it will effect, we are now anxious to get the other 25 percent of the deposits signed up with the accounts already waived. It's true depositors in whose names these 25 percent of accounts are credited are not needed to assure completion of the plan. "Just the same, we feel will be good advantage to Bloomington if waivers on 100 percent of the deposits can be obtained. It will also be favorable to the position of the new bank.' Trustees Handle Assets. The prescription outlined for formation of the new bank stipulates that when 50 percent waivers have