The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1869-03-22
CHICAGO.
Interesting Particulars Of She Rock
ford, U.s.. Bank-The GRANVILLE aud
MattOOa RalirOad-A Fight az Fort
Lyons between White and COI0Ped
Troops

CHICAGO, March 21.-The Rock,
ford kegiater of Saturday, whose edi.
| tor was the first cashier Of the broken
| First National Bank of that city, gives
some interesting particulars in the
history o! that institution. The bank
was started in June. 1861 It's first
officers we're Alonzo Wood. Presi-
dent, aud Il. FL. Griggs. Cashier. Its
capital stock was $40 900 It Was
almost entirely owned by Alonzo
Wood Early in 1865. Mr.. Griggs re
signed ths cashiership, IN consequence
OF his napllity to reconcile his ideas
OF sound blnking with those of the
principal owner George w. STRAIT
ton succeeded Mr.. Griggs, and con-
tlnued to he cashier up to the time
Of his staden disappearance. The
bank was, some time after the change
~ the cashiership, visited by j. Ii.
Dun ham, OF this city, the National
Bank Examiner for this district, who
found 1t IN such condition as, In his
ia igment, to justify the Government
In winding it up, aud he soon report
ed 1t to NJ. Clark, Comptroller of the
Currency.
No action was taken BY the Comp
troller, and he and his successor. Mr..
Hurlburd, were afterward frequently
notified by Mr.. Dunham that the
bank was in an unsound condition
and should be wound uu. Secretary
mcCplloch was also in possession OF
the same Information, but no action
was taken by the officials to close the
concern. Mr.. Durham finally re
signed his Office on account OF the
neglect of the Department to act upon
his recommendation. The bank had
on in this way. but never
the confidence of the bust
ness community. By the offer of high |
rates of interest on deposits, however,
1t induced many poor and hard work |
ing people to entrust their savings
70 It's keeping, and in this way its !
failure causes much distress to this
class of public depositors.
Within the last few months the
bank has been reported as ia an un-
safe condition, but as in former cases
the communications of the Ex-
aminer were disregarded and the
bank allowed to continue. II was ia
such Ill repute in Rockford that he
other banks refused TO receive It's
checks or drafts. On Monday even-
ing of lass week the cashier leit the !
city, ostensibly for the purpose OF
visiting Chicago to raise funds for the /
bank, aud the next day the doors
were closed. S. b. Scout, of Milwau- |
kee. examined and took possession
Immediately, and found that the en- !
ire assets in the vaults footed up
g ab0ut ten dollars in postal currency.
Everything else had been abstracted. |
It is diflaRlt to ascertain the liabili- |
ties Of fhe baEiz, bat It Is believed I
they Will scarcely fall below S100. 600. /
Robert McCabe, OF Chicago, has /
contracted TO build the GRANVILLE and /
Mattoon Railroad, to be equal to the |
Illinois Central Railroad, for 100000, /
taking county, city aud township 4
bonds Ia payment. The entire road /
IS TO be completed ia two years, aud |
the bonds only to be delivered as the |
iron IS put down. The road is to |
run from GrayviIle to Wands county. |
Illinois, UjG Albion, OlGey, Newton |
aud Prairie City to Mattoon, Coles |
county, distance Of about one hun
dred miles. The work will be com
menced simultaneously at GRANVILLE /
and MattOOn.
a special from Omaha says that the
Missouri Is rising rapidly, with a
prospect of the opening of naviga-
ton within few days. The weather
IS mid. Heavy storms are reported |
at Salt Lake and farther West.
The Denver " el0s, OF Saturday |
evening, publishes a telegram from
Puebla, reporting a fight at Fort |
Lyons, Thursday night, between the |
aud white troops, In which |
several men were killed and four or
five wounded.