BANKS AND BANKING - Revision history

Randylyon at 15:33, 18 March 2024

2024-03-18T15:33:36Z

← Older revision		Revision as of 15:33, 18 March 2024
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	In 1871 the [[COMMERCIAL NATIONAL BANK OF DUBUQUE]] was organized with officers including [[GRAVES, R. E.\|R. E. GRAVES]], president; [[STOUT, Henry L.\|Henry L. STOUT]], vice-president; and H. M. Kingman, cashier. The bank closed on March 20, 1888, and eventually paid seventy cents on the dollar to depositors.		In 1871 the [[COMMERCIAL NATIONAL BANK OF DUBUQUE]] was organized with officers including [[GRAVES, R. E.\|R. E. GRAVES]], president; [[STOUT, Henry L.\|Henry L. STOUT]], vice-president; and H. M. Kingman, cashier. The bank closed on March 20, 1888, and eventually paid seventy cents on the dollar to depositors.

	The [[SECOND NATIONAL BANK]] of Dubuque opened for business on May 15, 1876. Its officers were [[BRADLEY, William L. Jr.\|William L. BRADLEY, Jr.]], president; William F. ~~Large~~, vice-president; and Gilbert Smock, cashier. Business was accomplished with two clerks. Second National operated the [[DUBUQUE SAVINGS BANK]] as a separate organization for many years before consolidating.		The [[SECOND NATIONAL BANK]] of Dubuque opened for business on May 15, 1876. Its officers were [[BRADLEY, William L. Jr.\|William L. BRADLEY, Jr.]], president; [[LARGE, William P.\|William P. LARGE]], vice-president; and Gilbert Smock, cashier. Business was accomplished with two clerks. Second National operated the [[DUBUQUE SAVINGS BANK]] as a separate organization for many years before consolidating.

	Banks in operation in 1878 were accused of shady dealing by the ''Daily Herald'' as well as their customers for their practices involving the Mexican dollar. An order by the United States Treasury issued on January 1, 1878 stated that the value of the Mexican dollar was 99 and eight-tenths cents. This was the pure metal value of the coin which was established annually by the secretary of the treasury. Despite this, local banks only allowed the coin to be worth 90 cents. (3)		Banks in operation in 1878 were accused of shady dealing by the ''Daily Herald'' as well as their customers for their practices involving the Mexican dollar. An order by the United States Treasury issued on January 1, 1878 stated that the value of the Mexican dollar was 99 and eight-tenths cents. This was the pure metal value of the coin which was established annually by the secretary of the treasury. Despite this, local banks only allowed the coin to be worth 90 cents. (3)

Randylyon at 15:24, 18 March 2024

2024-03-18T15:24:29Z

← Older revision		Revision as of 15:24, 18 March 2024
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	'''Dubuque City Directory''', 1873-1874, p. 10		'''Dubuque City Directory''', 1873-1874, p. 10

	The first bank to begin operations in Iowa was the [[MINERS' BANK]]. Controversial from almost its beginning, the bank was investigated by a legislative committee including [[LEWIS, Warner\|Warner LEWIS]] in February 1838, and found to be solvent. The bank's suspension of specie payments led to a second investigation in 1842. A bill for repealing the bank's charter was eventually passed; the Miner's Bank was closed in 1844.		The first bank to begin operations in Iowa was the [[MINERS' BANK]]. Controversial from almost its beginning, the bank was investigated by a legislative committee including [[LEWIS, Warner\|Warner LEWIS]] in February 1838, and found to be solvent. The bank's suspension of specie payments (coins or other metal money in mass circulation) led to a second investigation in 1842. A bill for repealing the bank's charter was eventually passed; the Miner's Bank was closed in 1844.

	The Miner's Bank, like others at the time, began business on an unsound basis. Stockholders paid for their stock with personal notes instead of money.		The Miner's Bank, like others at the time, began business on an unsound basis. Stockholders paid for their stock with personal notes instead of money.
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	One investor, a Mr. St. John who lived in St. Louis, purchased $40,000 in stock on his personal note and then borrowed $57,000. Before he had repaid any of the money, St. John filed for bankruptcy with the entire loss left to the bank.		One investor, a Mr. St. John who lived in St. Louis, purchased $40,000 in stock on his personal note and then borrowed $57,000. Before he had repaid any of the money, St. John filed for bankruptcy with the entire loss left to the bank.

	In 1851 a private bank was organized by [[MOBLEY, Mordecai\|Mordecai MOBLEY]]. Rumors about the bank's solvency led to a frenzy of withdrawals in 1857. Concern was not quieted by forty of the community's wealthiest citizens ~~pledging~~ their financial backing to the bank. The Mobley bank closed in December 1857. The bank briefly reopened in 1858 before closing permanently.		In 1851 a private bank was organized by [[MOBLEY, Mordecai\|Mordecai MOBLEY]]. Rumors about the bank's solvency led to a frenzy of withdrawals in 1857. Concern was not quieted even when forty of the community's wealthiest citizens pledged their financial backing to the bank. The Mobley bank closed in December 1857. The bank briefly reopened in 1858 before closing permanently.

	Early in 1862 specie began to disappear as it was more valued than all paper issues. A number of business men made the attempt in July, 1862, to retire all small change then in circulation and have the banks substitute their own change or scrip checks. As an example, H. Markell & Co. and Babbage & Co., bankers, issued scrip about		Early in 1862 specie began to disappear as it was more valued than all paper issues. A number of business men made the attempt in July, 1862, to retire all small change then in circulation and have the banks substitute their own change or scrip checks. As an example, H. Markell & Co. and Babbage & Co., bankers, issued scrip about

Randylyon at 04:41, 6 December 2020

2020-12-06T04:41:55Z

← Older revision		Revision as of 04:41, 6 December 2020
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	The [[SECOND NATIONAL BANK]] of Dubuque opened for business on May 15, 1876. Its officers were [[BRADLEY, William L. Jr.\|William L. BRADLEY, Jr.]], president; William F. Large, vice-president; and Gilbert Smock, cashier. Business was accomplished with two clerks. Second National operated the [[DUBUQUE SAVINGS BANK]] as a separate organization for many years before consolidating.		The [[SECOND NATIONAL BANK]] of Dubuque opened for business on May 15, 1876. Its officers were [[BRADLEY, William L. Jr.\|William L. BRADLEY, Jr.]], president; William F. Large, vice-president; and Gilbert Smock, cashier. Business was accomplished with two clerks. Second National operated the [[DUBUQUE SAVINGS BANK]] as a separate organization for many years before consolidating.

			Banks in operation in 1878 were accused of shady dealing by the ''Daily Herald'' as well as their customers for their practices involving the Mexican dollar. An order by the United States Treasury issued on January 1, 1878 stated that the value of the Mexican dollar was 99 and eight-tenths cents. This was the pure metal value of the coin which was established annually by the secretary of the treasury. Despite this, local banks only allowed the coin to be worth 90 cents. (3)

	In 1887 the [[GERMAN TRUST AND SAVINGS BANK]] was incorporated by such business and civic leaders as [[KLAUER, Peter\|Peter KLAUER]], [[BELL, John\|John BELL]], and [[GLAB, Nicholas\|Nicholas GLAB]]. The bank's name was changed to the [[UNION TRUST AND SAVINGS BANK]] in 1917. The bank closed before 1933.		In 1887 the [[GERMAN TRUST AND SAVINGS BANK]] was incorporated by such business and civic leaders as [[KLAUER, Peter\|Peter KLAUER]], [[BELL, John\|John BELL]], and [[GLAB, Nicholas\|Nicholas GLAB]]. The bank's name was changed to the [[UNION TRUST AND SAVINGS BANK]] in 1917. The bank closed before 1933.
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	2. Ibid. p. 17		2. Ibid. p. 17

			3. "The Mexican Dollar," ''The Daily Herald'', June 6, 1878, p.

	[[Category: Banks]]		[[Category: Banks]]

Randylyon at 22:22, 21 October 2020

2020-10-21T22:22:10Z

← Older revision		Revision as of 22:22, 21 October 2020
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	[[Image:banknote.jpg\|left\|thumb\|300px\|]]Between 1849 and 1863 various other private banks were established in Dubuque. These included Finley, Burton, and Company (1849-1856); Langworthy Brothers (1851-1857); Jesup and Stimson (1849-1857); Sergant, Borney, and Cook (1849-1857); Cook, Sergant and Company (1851-1853); W. J. Barney and Company (1853-1857); H. W. Markell (1855-1863), Herron Brothers (1854-1857), and [[LUMBERMEN'S BANK]].		[[Image:banknote.jpg\|left\|thumb\|300px\|]]Between 1849 and 1863 various other private banks were established in Dubuque. These included Finley, Burton, and Company (1849-1856); Langworthy Brothers (1851-1857); Jesup and Stimson (1849-1857); Sergant, Borney, and Cook (1849-1857); Cook, Sergant and Company (1851-1853); W. J. Barney and Company (1853-1857); H. W. Markell (1855-1863), Herron Brothers (1854-1857), and [[LUMBERMEN'S BANK]].

	[[Image:statebank1.~~jpg~~\|left\|thumb\|300px\|]]The State Bank of Iowa with F. B. Goodrich as president operated from 1857 to 1863 when it was merged with the [[FIRST NATIONAL BANK OF DUBUQUE]].		[[Image:statebank1.png\|left\|thumb\|300px\|]]The State Bank of Iowa with F. B. Goodrich as president operated from 1857 to 1863 when it was merged with the [[FIRST NATIONAL BANK OF DUBUQUE]].
	[[Image:10dollar.png\|left\|thumb\|200px\|]]		[[Image:10dollar.png\|left\|thumb\|200px\|]]
	[[Image:fnbnotes.jpg\|left\|thumb\|200px\|]]		[[Image:fnbnotes.jpg\|left\|thumb\|200px\|]]

Randylyon at 22:21, 21 October 2020

2020-10-21T22:21:45Z

← Older revision		Revision as of 22:21, 21 October 2020
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	Herald, July 17, 1862 (1)		Herald, July 17, 1862 (1)

	[[Image:banknote.jpg\|left\|thumb\|300px\|]]Between 1849 and 1863 various other private banks were established in Dubuque. These included Finley, Burton, and Company (1849-1856); Langworthy Brothers (1851-1857); Jesup and Stimson (1849-1857); Sergant, Borney, and Cook (1849-1857); Cook, Sergant and Company (1851-1853); W. J. Barney and Company (1853-1857); H. W. Markell (1855-1863), Herron Brothers (1854-1857), and [[LUMBERMEN'S BANK]]. The State Bank of Iowa with F. B. Goodrich as president operated from 1857 to 1863 when it was merged with the [[FIRST NATIONAL BANK OF DUBUQUE]].		[[Image:banknote.jpg\|left\|thumb\|300px\|]]Between 1849 and 1863 various other private banks were established in Dubuque. These included Finley, Burton, and Company (1849-1856); Langworthy Brothers (1851-1857); Jesup and Stimson (1849-1857); Sergant, Borney, and Cook (1849-1857); Cook, Sergant and Company (1851-1853); W. J. Barney and Company (1853-1857); H. W. Markell (1855-1863), Herron Brothers (1854-1857), and [[LUMBERMEN'S BANK]].

			[[Image:statebank1.jpg\|left\|thumb\|300px\|]]The State Bank of Iowa with F. B. Goodrich as president operated from 1857 to 1863 when it was merged with the [[FIRST NATIONAL BANK OF DUBUQUE]].
	[[Image:10dollar.png\|left\|thumb\|200px\|]]		[[Image:10dollar.png\|left\|thumb\|200px\|]]
	[[Image:fnbnotes.jpg\|left\|thumb\|200px\|]]		[[Image:fnbnotes.jpg\|left\|thumb\|200px\|]]

Randylyon at 01:03, 12 June 2020

2020-06-12T01:03:59Z

← Older revision		Revision as of 01:03, 12 June 2020
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	The Merchants National Bank was opened in 1865 and successfully weathered several financial panics. Its directors, including [[ALLISON, William Boyd\|William Boyd ALLISON]] and [[HANCOCK, John T.\|John T. HANCOCK]], were among the city's most influential business and political leaders. The bank closed as a result of a large embezzlement by [[BABBAGE, Richard A.\|Richard A. BABBAGE]]. Fear caused by the closing touched off the Panic of September 1873.		The Merchants National Bank was opened in 1865 and successfully weathered several financial panics. Its directors, including [[ALLISON, William Boyd\|William Boyd ALLISON]] and [[HANCOCK, John T.\|John T. HANCOCK]], were among the city's most influential business and political leaders. The bank closed as a result of a large embezzlement by [[BABBAGE, Richard A.\|Richard A. BABBAGE]]. Fear caused by the closing touched off the Panic of September 1873.

	In 1871 the ~~Commercial National Bank of Dubuque~~ was organized with officers including [[GRAVES, R. E.\|R. E. GRAVES]], president; [[STOUT, Henry L.\|Henry L. STOUT]], vice-president; and H. M. Kingman, cashier. The bank closed on March 20, 1888, and eventually paid seventy cents on the dollar to depositors.		In 1871 the [[COMMERCIAL NATIONAL BANK OF DUBUQUE]] was organized with officers including [[GRAVES, R. E.\|R. E. GRAVES]], president; [[STOUT, Henry L.\|Henry L. STOUT]], vice-president; and H. M. Kingman, cashier. The bank closed on March 20, 1888, and eventually paid seventy cents on the dollar to depositors.

	The [[SECOND NATIONAL BANK]] of Dubuque opened for business on May 15, 1876. Its officers were [[BRADLEY, William L. Jr.\|William L. BRADLEY, Jr.]], president; William F. Large, vice-president; and Gilbert Smock, cashier. Business was accomplished with two clerks. Second National operated the [[DUBUQUE SAVINGS BANK]] as a separate organization for many years before consolidating.		The [[SECOND NATIONAL BANK]] of Dubuque opened for business on May 15, 1876. Its officers were [[BRADLEY, William L. Jr.\|William L. BRADLEY, Jr.]], president; William F. Large, vice-president; and Gilbert Smock, cashier. Business was accomplished with two clerks. Second National operated the [[DUBUQUE SAVINGS BANK]] as a separate organization for many years before consolidating.

Randylyon at 19:39, 9 May 2017

2017-05-09T19:39:40Z

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-[[Image:bankchart.png|left|thumb|500px|]
+[[Image:bankchart.png|left|thumb|500px|]]
 BANKS AND BANKING
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 The second oldest bank still in operation in Dubuque was opened in 1905 as the [[GERMAN AMERICAN SAVINGS BANK]]. Patriotism led the name to be changed in 1917 to [[AMERICAN TRUST AND SAVINGS BANK]].
-The approach of the [[GREAT DEPRESSION]] was felt strongly in the Dubuque banking community. Served by six banks as the 1930s began, Dubuque saw the Federal Bank and Trust Company and the Union Trust and Savings Bank close first. These were followed by the Iowa Trust and Savings Bank and the [[CONSOLIDATED NATIONAL BANK]]. American Trust and Savings Bank remained open with infusions of funds from the [[DUBUQUE FIRE AND MARINE INSURANCE COMPANY]]. Conservative investments and large commercial accounts kept First National Bank operating.
+[[Image:bankpin1.JPG|left|thumb|300px|Iowa Bankers' Association pin from state meeting in Dubuque in 1918. Photo courtesy: Joe Jacobsmeier]]The approach of the [[GREAT DEPRESSION]] was felt strongly in the Dubuque banking community. Served by six banks as the 1930s began, Dubuque saw the Federal Bank and Trust Company and the Union Trust and Savings Bank close first. These were followed by the Iowa Trust and Savings Bank and the [[CONSOLIDATED NATIONAL BANK]]. American Trust and Savings Bank remained open with infusions of funds from the [[DUBUQUE FIRE AND MARINE INSURANCE COMPANY]]. Conservative investments and large commercial accounts kept First National Bank operating.
 In an effort to inspire Dubuque residents to remain calm, [[MAYOR]] Martin B. Andelfinger proclaimed Inauguration Day, March 4, 1933, as "Confidence Day" in Dubuque. A parade was planned. News, however, that New York and Illinois banks had been ordered closed made the festivities seem pointless. At 11:00 a.m., March 2, 1933, both remaining banks announced that they would open for only one hour on March 4 and then only to provide limited service to commercial customers. American Trust observed the bank holiday ordered by the state. First National tried to reopen, but closed when state officials threatened to order militia to enforce the closing.

Randylyon at 19:37, 9 May 2017

2017-05-09T19:37:12Z

← Older revision		Revision as of 19:37, 9 May 2017
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	~~[[Image:bankpin1.JPG\|left\|thumb\|300px\|Iowa Bankers' Association pin from state meeting in Dubuque in 1918. Photo courtesy: Joe Jacobsmeier]]~~
	[[Image:bankchart.png\|left\|thumb\|500px\|]		[[Image:bankchart.png\|left\|thumb\|500px\|]

Randylyon at 19:36, 9 May 2017

2017-05-09T19:36:40Z

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 [[Image:bankpin1.JPG|left|thumb|300px|Iowa Bankers' Association pin from state meeting in Dubuque in 1918. Photo courtesy: Joe Jacobsmeier]]
-[[Image:bankchart.png|left|thumb|500px|]]
+[[Image:bankchart.png|left|thumb|500px|]
 BANKS AND BANKING

Randylyon at 19:36, 9 May 2017

2017-05-09T19:36:09Z

← Older revision		Revision as of 19:36, 9 May 2017
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	[[Image:~~bankpin~~.JPG\|left\|thumb\|300px\|Iowa Bankers' Association pin from state meeting in Dubuque in 1918. Photo courtesy: Joe Jacobsmeier]]		[[Image:bankpin1.JPG\|left\|thumb\|300px\|Iowa Bankers' Association pin from state meeting in Dubuque in 1918. Photo courtesy: Joe Jacobsmeier]]
	[[Image:bankchart.png\|left\|thumb\|500px\|]]		[[Image:bankchart.png\|left\|thumb\|500px\|]]

← Older revision		Revision as of 22:22, 21 October 2020
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	[[Image:banknote.jpg\|left\|thumb\|300px\|]]Between 1849 and 1863 various other private banks were established in Dubuque. These included Finley, Burton, and Company (1849-1856); Langworthy Brothers (1851-1857); Jesup and Stimson (1849-1857); Sergant, Borney, and Cook (1849-1857); Cook, Sergant and Company (1851-1853); W. J. Barney and Company (1853-1857); H. W. Markell (1855-1863), Herron Brothers (1854-1857), and [[LUMBERMEN'S BANK]].		[[Image:banknote.jpg\|left\|thumb\|300px\|]]Between 1849 and 1863 various other private banks were established in Dubuque. These included Finley, Burton, and Company (1849-1856); Langworthy Brothers (1851-1857); Jesup and Stimson (1849-1857); Sergant, Borney, and Cook (1849-1857); Cook, Sergant and Company (1851-1853); W. J. Barney and Company (1853-1857); H. W. Markell (1855-1863), Herron Brothers (1854-1857), and [[LUMBERMEN'S BANK]].

	[[Image:statebank1.~~jpg~~\|left\|thumb\|300px\|]]The State Bank of Iowa with F. B. Goodrich as president operated from 1857 to 1863 when it was merged with the [[FIRST NATIONAL BANK OF DUBUQUE]].		[[Image:statebank1.png\|left\|thumb\|300px\|]]The State Bank of Iowa with F. B. Goodrich as president operated from 1857 to 1863 when it was merged with the [[FIRST NATIONAL BANK OF DUBUQUE]].
	[[Image:10dollar.png\|left\|thumb\|200px\|]]		[[Image:10dollar.png\|left\|thumb\|200px\|]]
	[[Image:fnbnotes.jpg\|left\|thumb\|200px\|]]		[[Image:fnbnotes.jpg\|left\|thumb\|200px\|]]

← Older revision		Revision as of 22:21, 21 October 2020
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	Herald, July 17, 1862 (1)		Herald, July 17, 1862 (1)

	[[Image:banknote.jpg\|left\|thumb\|300px\|]]Between 1849 and 1863 various other private banks were established in Dubuque. These included Finley, Burton, and Company (1849-1856); Langworthy Brothers (1851-1857); Jesup and Stimson (1849-1857); Sergant, Borney, and Cook (1849-1857); Cook, Sergant and Company (1851-1853); W. J. Barney and Company (1853-1857); H. W. Markell (1855-1863), Herron Brothers (1854-1857), and [[LUMBERMEN'S BANK]]. The State Bank of Iowa with F. B. Goodrich as president operated from 1857 to 1863 when it was merged with the [[FIRST NATIONAL BANK OF DUBUQUE]].		[[Image:banknote.jpg\|left\|thumb\|300px\|]]Between 1849 and 1863 various other private banks were established in Dubuque. These included Finley, Burton, and Company (1849-1856); Langworthy Brothers (1851-1857); Jesup and Stimson (1849-1857); Sergant, Borney, and Cook (1849-1857); Cook, Sergant and Company (1851-1853); W. J. Barney and Company (1853-1857); H. W. Markell (1855-1863), Herron Brothers (1854-1857), and [[LUMBERMEN'S BANK]].

			[[Image:statebank1.jpg\|left\|thumb\|300px\|]]The State Bank of Iowa with F. B. Goodrich as president operated from 1857 to 1863 when it was merged with the [[FIRST NATIONAL BANK OF DUBUQUE]].
	[[Image:10dollar.png\|left\|thumb\|200px\|]]		[[Image:10dollar.png\|left\|thumb\|200px\|]]
	[[Image:fnbnotes.jpg\|left\|thumb\|200px\|]]		[[Image:fnbnotes.jpg\|left\|thumb\|200px\|]]

← Older revision		Revision as of 01:03, 12 June 2020
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	The Merchants National Bank was opened in 1865 and successfully weathered several financial panics. Its directors, including [[ALLISON, William Boyd\|William Boyd ALLISON]] and [[HANCOCK, John T.\|John T. HANCOCK]], were among the city's most influential business and political leaders. The bank closed as a result of a large embezzlement by [[BABBAGE, Richard A.\|Richard A. BABBAGE]]. Fear caused by the closing touched off the Panic of September 1873.		The Merchants National Bank was opened in 1865 and successfully weathered several financial panics. Its directors, including [[ALLISON, William Boyd\|William Boyd ALLISON]] and [[HANCOCK, John T.\|John T. HANCOCK]], were among the city's most influential business and political leaders. The bank closed as a result of a large embezzlement by [[BABBAGE, Richard A.\|Richard A. BABBAGE]]. Fear caused by the closing touched off the Panic of September 1873.

	In 1871 the ~~Commercial National Bank of Dubuque~~ was organized with officers including [[GRAVES, R. E.\|R. E. GRAVES]], president; [[STOUT, Henry L.\|Henry L. STOUT]], vice-president; and H. M. Kingman, cashier. The bank closed on March 20, 1888, and eventually paid seventy cents on the dollar to depositors.		In 1871 the [[COMMERCIAL NATIONAL BANK OF DUBUQUE]] was organized with officers including [[GRAVES, R. E.\|R. E. GRAVES]], president; [[STOUT, Henry L.\|Henry L. STOUT]], vice-president; and H. M. Kingman, cashier. The bank closed on March 20, 1888, and eventually paid seventy cents on the dollar to depositors.

	The [[SECOND NATIONAL BANK]] of Dubuque opened for business on May 15, 1876. Its officers were [[BRADLEY, William L. Jr.\|William L. BRADLEY, Jr.]], president; William F. Large, vice-president; and Gilbert Smock, cashier. Business was accomplished with two clerks. Second National operated the [[DUBUQUE SAVINGS BANK]] as a separate organization for many years before consolidating.		The [[SECOND NATIONAL BANK]] of Dubuque opened for business on May 15, 1876. Its officers were [[BRADLEY, William L. Jr.\|William L. BRADLEY, Jr.]], president; William F. Large, vice-president; and Gilbert Smock, cashier. Business was accomplished with two clerks. Second National operated the [[DUBUQUE SAVINGS BANK]] as a separate organization for many years before consolidating.