Multiple contemporaneous newspaper reports (Dec 14โ18, 1896) state the banking house suspended and made an assignment after heavy cash withdrawals during the panic times and the senior partner's long illness. Assignment indicates receivership/closure. The heavy withdrawals indicate a run triggered by the broader panic (macro/systemic), leading to suspension and assignment (permanent closure).
Events (3)
1.December 14, 1896Receivership
Newspaper Excerpt
suspended Monday, making an assignment to C. N. Travous and E. D. Gillespie.
Source
newspapers
2.December 14, 1896Run
Cause
Macro News
Cause Details
Heavy cash withdrawals during the broader 'panic times' (systemic financial panic leading depositors to withdraw funds).
Measures
None reported prior to suspension; reports note expectation of ultimately paying liabilities in full but no temporary measures described.
Newspaper Excerpt
The causes assigned in the notice posted are heavy cash withdrawals during the panic times
Source
newspapers
3.December 14, 1896Suspension
Cause
Bank Specific Adverse Info
Cause Details
Suspension followed heavy withdrawals and the long-continued illness of the head of the establishment; notice cited heavy cash withdrawals during panic times and illness as causes assigned for suspension. (Illness weakened management and withdrawals drained liquidity.)
Newspaper Excerpt
The banking house of John A. Prickett & Son suspended today.
Source
newspapers
Newspaper Articles (11)
1.December 15, 1896Richmond DispatchRichmond, VA
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Article Text
Banking-House Assigns. EDWARDSVILLE, ILL., December 14.The banking-house of John A. Prickett & Son, of this city, made an assignment to-day. The causes assigned in the notice posted are heavy cash withdrawals during the panic time and a long-continued Illness on the part of the senior partner. The assets and liabilities are not stated.
2.December 15, 1896Kansas City Daily JournalKansas City, MO
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Article Text
Illinois Bank Fails. Edwardsville, III., Dec. 14.-The banking house of John A. Prickett & Son, in this city, suspended to-day. The causes assigned in the notice posted are heavy cash withdrawals during the panic times, and long continued illness of the head of the establishment. The expectation of ultimately paying liabilities in full is expressed. The failure was entirely unexpected.
3.December 15, 1896The Copper Country Evening NewsCalumet, MI
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Article Text
Edwardsville, Ills., Bank Closed. Edwardsville, Ills., Dec. 15.-The banking house of John A. Prickett & Son in this city, suspended Monday, making an assignment to C. N. Travous and E. D. Gillespie. The cause assigned in the notice posted are heavy cash withdrawals during the panic times and long continued illness of the head of the establishment. The expectation of ultimately paying liabilities in full is expressed. The failure was entirely unexpected and has caused a profound sensation, as the bank was largely patronized locally.
4.December 15, 1896The Seattle Post-IntelligencerSeattle, WA
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Article Text
Failures of a Day. HOLLIDAYSBURG, Pa., Dec. 14-The First National bank, the oldest bank in this section of the state and one of the original fifty-seven national banks of the Unitel States, suspended this afternoon. As a result of the failure, the corresponding banks at Martinsburg and Williamsburg also closed their doors. EDWARDSVILLE, Ill., Dec. 14.-The banking house of John A. Prickett & Son suspended today. making an assignment to C. N. Traveus and E. D. Gillespie. The cause assigned was heavy withdrawals and the long continued illness of the head of the establishment. NEW YORK. Dec. 14.-The failure of the firm of John Collins & Son was announced today at the Cotton Exchange, but the failure did not affect. the market in any way.
5.December 15, 1896The Scranton TribuneScranton, PA
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Article Text
Banking House Closed. Edwardsville, Ills., Dec. 14.-The banking house of John A. Prickett & Son, of this city, made an assignment today. The causes assigned in the notice posted are heavy withdrawals during the panic times and the long continued illness of the senior partner. The assets and liabilities are not stated.
Prickett & Son. Edwardsville, III., December 14.-The banking house of John A. Prickett & Son suspended today. The causes are heavy cash withdrawals and poor collections. The expectation of ultimately paying liabilities in full is expressed.
7.December 15, 1896The Morning NewsSavannah, GA
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Article Text
PRIVATE BANKERS FAIL. Heavy Withdrawals of Deposits the Cause of Their Trouble. Edwardsville, Ill., Dec. 14.-The banking house of John A. Prickett & Son of this gity made an assignment to-day. The causes assigned in the notice posted are heavy cash withdrawals during the panic times and the long continued illness of the senior partner. The assets and liabilities are not stated.
8.December 16, 1896The Greenville TimesGreenville, MS
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Article Text
BANK SUSPENDS. Prickett & Son, of Edwardvilles, III., Make an Assignment. EDWARDSVILLE, III., Dec. 14.-The banking house of John A. Prickett & Son, in this city, has suspended, making an assignment to C. N. Travous and E. D. Gillespie. The causes assigned in the notice posted are heavy cash withdrawals during the panic times, and long-continued illness of the head of the establishment. The expectation of ultimately paying liabilities in full is expressed. The failure was entirely une xpected, and has caused a profound sensation, as the bank was largely patronized locally.
9.December 19, 1896Arizona RepublicanPhoenix, AZ
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Article Text
AN ILLINOIS BANK SUSPENDS. EDWARDSVILLE, Ill., Dec. 18.The banking house of John A. Prickett & Son has suspended. The causes assigned are heavy cash withdrawals during the panic times and long continued illness of the head of the establishment. The expectations of ultimately paying liabilities in full is expressed. The failure was entirely unexpected.
Preparations are being made to celebrate the one hundredth anniversary of Albany as the capital city of New York on January 6, 1897. The banking house of John A. Prickett & Son in Edwardsville, Ill., suspended. The sixteenth annual convention of the American Federation of Labor began in Cincinnati. The secretary of the treasury sent to congress a statement of receipts and expenditures of the government for the fiscal year ended June 30, 1896, which shows the total receipts were $409,475,408 and the expenditures $434,627,654.
11.December 21, 1896Vilas County NewsEagle River, WI
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Article Text
Illinois Bank Goes Under. St. Louis, Mo., Dec. 14.-A special to the Post-Dispatch from Edwardsville, Ill., says: "The banking house of John A. Prickett & Son in this city suspended today, making an assignment to C. N. Travers and E. D. Gillespie. The causes assigned in the notice posted are heavy cash withdrawals during the panic times and the long-continued illness of the head of the establishment."