People's Bank (Canton, IL)

Episode Information

Episode UID
8708009391018
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
870800939 hash
Start Date
October 29, 1884
Location
Canton, Illinois (40.558, -90.035)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
71f57c4d7ea8fbb0

Response Measures

None

Description

Contemporary reports state the bank suspended with liabilities exceeding assets; no reopening or receivership details provided in these items.

Events (1)
1. October 29, 1884 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Reported liabilities ~$100,000 with assets ~$50,000 indicating insolvency leading to suspension.
Newspaper Excerpt
The People's Bank, at Canton, Ill., suspended on the 29th. Liabilities $100,000.
Source
newspapers

Newspaper Articles (10)
1. October 31, 1884 Savannah Morning News Savannah, GA
Article from Savannah Morning News, October 31, 1884

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Article Text

CRASHES IN BUSINESS. A Peoria Bank Goes Under with Only $50,000 with Which to Pay its Debts. NEW YORK, Oct. 0.-The following failures were reported to-day: Henry Lyon & Son, dealers in gentlemen's furnishing goods, have made an assignment. Gauze, Mackay & Co., bankers and general storekeepers, of Lynnville, Ia., have made an assignment. PEORIA, ILL., Oct. 30.-The People's Bank of Canton, Illinois, owned by B.C. Coblitz, suspended to-day. The liabilities are $100,000 and the assets $50,000. PROBABLY FLED TO CANADA. LOUISVILLE, Ky., Oct. 30.-William Eglehoff, of the firm of Eglehoff & Bro., which made an assignment Wednesday for $40,000, has left the city, and is said to have gone to Canada. It is rumored that as Secretary of the Nelson Distilling Company he has swindled creditors by hypothecating warehouse receipts. Eglehoff's brother-in-law, who is the assignee of the firm, says that there is scarcely a doubt that he has gone to Canada. Eglehoff has lost heavily lately on race betting, and while candidate for a county office is said to have spent $20,000. OVERLOADED WITH STOCKS. CLEVELAND, Oct. 30.-Geo. E. Hutchinson, a large owner of stock of gold and silver mines in the Western States and Territories, made an assignment today.

2. October 31, 1884 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, October 31, 1884

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Article Text

ILLINOIS. The People's Bank of Canton Suspends-Liabilities, $100,0000; Assets, $50,000. PEORIA, Oct. 30.-The People's Bank at Canton, Ill., owned by C. D. Coblett, suspended today. Liabilities, $100,000; assets estimated at $50,000.

3. October 31, 1884 The Dallas Daily Herald Dallas, TX
Article from The Dallas Daily Herald, October 31, 1884

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Article Text

Another Broken Bank. PEORIA, ILL, Oct. 30.-The People's bank, nt Canton, Illinois, owned by C. D. Coblitt, suspended to-day. Liabilities, $10,000; assets estimated at $50,000.

4. November 5, 1884 Mower County Transcript Austin, Lansing, MN
Article from Mower County Transcript, November 5, 1884

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Article Text

GENERAL. DR. PARET, of New York, was elected bishop by the Protestant Episcopal Conference at Baltimore. S. SELIG, wholesale milliner, San Francisco, made an assignment on the 29th. Liabilities $25,000; assets $20,000. THE People's Bank, at Canton, Ill., suspended on the 29th. Liabilities $100,000. A WASHINGTON dispatch of the 29th states that yellow fever has broken out on the west coast of Mexico. THE Armstrong well in the Thorn Creek, Pa., oil district, was torpedoed on the 27th with fifty quarts of nitroglycerine and immediately commenced to flow at a phenonenal rate. The yield per day is estimated at 9,000 barrels. Before the torpedo exploded the well was considered worthless. ON the 28th Walter Q. Gresham, secretary of the treasury, was appointed judge of the Seventh Circuit, in place of Justice Drummond, resigned. ExSecretary Hugh McCulloch takes the treasury portfolio. THE Scott liquor law was on the 28th declared unconstitutional by the supreme court of Ohio. THE U. S. steamer Tallapoosa, which was -sent to the bottom of Vineyard Sound by a collision in August last, has been raised and is now at New York navy yard for repairs. WILBUR F. STOREY, proprietor of the Chicago Times, died at his home in that city on the 27th, after a protracted illness. THE comptroller of the currency has eclared dividends of 30 per cent. in favor of the creditors of the Hot Springs Ark., National Bank and the First National Bank of Monmouth, Ill. With this dividend the creditors of the latter bank will have received 70 per cent. of their claims.

5. November 5, 1884 Watertown Republican Watertown, WI
Article from Watertown Republican, November 5, 1884

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Article Text

Financial Embarrassment. Weisz & Moll, dealers in agricultural implements, Sioux City, Ia., have assigned. Liabilities about $25,000; assets $20,000. The United States contributed 231 to the failures for the week ending on the 31st. The People's Bank, at Canton, Ill., suspended on the 29th with liabilities to the amount of $100,000. S. Selig, wholesale milliner, San Francisco, has made an assignment. Liabilities $25,000; assets $20,000. The banking house of H. D. Cooke & Co., Washington, D. C,, has closed its doors. The liabilities are estimated at $170,000, It is believed the embarrassed firm will in time pay its indebtedness in full.

6. November 6, 1884 The Bad Lands Cow Boy Little Missouri, Medora, ND
Article from The Bad Lands Cow Boy, November 6, 1884

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Article Text

Miscellaneous News Notes. Miners have struck a rich vein of iron ore near West Chester, Pa, at a depth of 300 feet. The People's bank of Canton, III., owned by C. D. Coblitt, suspended. Liabilities, $100,000; assets, $50,000. S. Selig, wholesale milliner of San Francisco, assigned. Liabilities, $25,000; assets, $20,DOO. The principal creditors are in New York. George E. Hutchinson, of Cleveland, a large owner of stock of gold and silver mines in Western states and territories, assigned. Liabilities not stated. The failure is attributed to depreciation of shares. A spotted hyena, eloped from a show, is the bugaboo that keeps children at home after dark in Loyalsock township, Lycoming county, Pa. Every well regulated community should import a spotted hyena at once. Johns Hopkins university at Baltimore has opened with 160 graduate students enrolled, and 113 undergraduates, or a total of 273. This is an increase over last year of 18 per cent., and a few more additions may. be expected before December. The number of new students is 132. The South Carolina Presbyterian Synod passed the following resolution: Resolved. That in the judgment of this synod the teaching of evolution at the theological seminary at Columbia, except in a purely expository manner, with no intention of inculcating its truth, is hereby disapproved H. Lyon & Son, dry goods, gents' furnishing goods and notions, of St. Louis, have assigned. Liabilities, $60,000; assets, $50,000. Mr. Lyon, Sr., also assigned his individual property, consisting of real estate valued at $12,000, to Tenbroeck. The debts of the firm are chiefly in Eastern cities. Gov. Robinson recently issued orders directing the release from costody of Mrs. George

7. November 6, 1884 The Sun Morris, MN
Article from The Sun, November 6, 1884

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Article Text

Miscellaneous News Notes. Miners have struck a rich vein of iron ore near West Chester, Pa., at a depth of 300 feet. At New Orleans, Judge Pardee decides that United States courts have no jurisdition over registration rolls. The People's bank of Canton, III., owned by C. D. Coblitt, suspended. Liabilities, $100,000; assets, $50,000. S. Selig, wholesale milliner of San Francisco, assigned. Liabilities, $25,000; assets, $20,000. The principal creditors are in New York. George E. Hutchineon, of Cleveland, a large owner of stock of gold and silver mines in Western states and territories, assigned. Liabilities not stated. The failure is attributed to depreciation of shares. A spotted hyena, eloped from a show, is the bugaboo that keeps children at home after dark in Loyalsock township, Lycoming county, Pa. Every well regulated community should import a spotted hyena at once. Schedules of the assignment of Alfred G. Luders and Oscar B. Luders, composing the firm of Alfred G. Luders & Co., Commission merchants, New York, show liabilities, $106,000; nominal assots, $100,000; and actual assets, $2,300. At a composition meeting in the matter of F. Shaw & Bros. of Boston, under an act of the last legislature, nearly $3,000,000 claims were offered for proof, which indicates the the creditors desire composition as offered is the firm. Johns Hopkins university at Baltimore La opened with 160 graduate students enrol... and 113 undergraduates, or a total of This is an increase over last year of 18 1-2 cent., and a few more additious may be Cpected before December. The number of ri... students is 132. The South Carolina Presbyterian Ejæle. passed the following resolution: Resolved That in the judgment of this synod the the ng of evolution st the theological seminary st

8. November 7, 1884 Little Falls Transcript Little Falls, MN
Article from Little Falls Transcript, November 7, 1884

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Article Text

Miscellaneous Wews Notes. Miners have struck a rich vein of iron ore near West Chester, Pa., at a depth of 300 feet. The People's bank of Canton, ILL, owned by C. D. Coblitt, suspended. Liabilities, $100,000; assets, $50,000. S. Selig, whelesale milliner of San Francisco, assigned. Liabilities, $25,000; assets, $20,DOO. The principal creditors are in New York. George E. Hutchinson, of Cleveland, a large owner of stock of gold and silver mines in Western states and territories, assigned. Liabilities not stated. The failure is attributed to depreciation of shares. A spotted hyena, eloped from 2 show, is the bugaboo that keeps children at home after dark in Loyalsock township, Lycoming county, Pa. Every well regulated community should impact a spotted hyena at once. Johns Hopkins university at Baltimore has opened with 160 graduate students enrolled, R. d 113 undergraduates, or a total of 273. This is an increase over last year of 18 per cent, and a few more additions may be expected before December. The number of new students is 132. The Searth Carolina Presbyterian Synod passed the following resolution: Resolved. That in the judgment of this synod the teaching of evolution at the theological seminary at Columbia, except in a purely expository manner, with no intention of inculeating its truth, is hereby disapproved. H. Lyon & Son, dry goods, gents furnishing goods and notions, of St. Louis, have assigned Liabilities, $60,000; assets, $50,000. Mr. Lyon, Sr., also assigned his individual propertv, consisting of real estate valued at $12,000, to Teubroeck. The debts of the firm are chiefly in Eastern cities. Gov. Robinson recently issued orders directing the release from costody of Mrs. George

9. November 8, 1884 The Superior Times Superior, WI
Article from The Superior Times, November 8, 1884

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Article Text

GENERAL. WEISZ & MOLL, dealers in agricultural implements, Sioux City, Ia., assigned on the 31st. Liabilities about $25,000; assets $20,000. THE failures in the United States for the week ending on the 31st, numbered 231. THE Washington grand jury, on the 31st, returned an indictment against Col. Burnside, late disbursing officer of the post-office department, charging him with embezzling $54,000. DR. PARET, of New York, was elected bishop by the Protestant Episcopal Conference at Baltimore. S. SELIG, wholesale milliner, San Francisco, made an assignment on the 29th. Liabilities $25,000; assets $20,000. THE People's Bank, at Canton, Ill., suspended on the 29th. Liabilities $100,000. A WASHINGTON dispatch of the 29th states that yellow fever has broken out on the west coast of Mexico. THE Armstrong well in the Thorn Creek, Pa., oil district, was torpedoed on the 27th with fifty quarts of nitroglycerine and immediately commenced to flow at a phenonenal rate. The yield per day is estimated at 9,000 barrels. Before the torpedo exploded the well was considered worthless. ON the 28th Walter Q. Gresham, sec retary of the treasury, was appointed judge of the Seventh Circuit, in place of Justice Drummond, resigned. ExSecretary Hugh McCulloch takes the treasury portfolio. THE Scott liquor law was on the 28th declared unconstitutional by the supreme court of Ohio. AT Rockport, Mo., on the 25th, William Sutherland, a farm"hand, fatally shot his employer's daughter because she refused to elope with him. He then attempted to suicide by poison, but failed. WILBUR F. STOREY, proprietor of the Chicago Times, died at his home in that city on the 27th, after a protracted illness.

10. November 8, 1884 The Dickinson Press Dickinson, ND
Article from The Dickinson Press, November 8, 1884

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Article Text

Miscellaneous News Notes. Miners have struck a rich vein of iron ore near West Chester, Pa., at a depth of 300 feet. The People's bank of Canton, Ill., owned by C. D. Coblitt, suspended. Liabilities, $100,000; assets, $50,000. S. Selig, wholesale milliner of San Francisco, assigned. Liabilities, $25,000; assets, $20,000. The principal creditors are in New York. George E. Hutchinson, of Cleveland, a large owner of stock of gold and silver mines in Western states and territories, assigned. Liabilities not stated. The failure is attributed to depreciation of shares. A spotted hyena, eloped from a show, is the bugaboo that keeps children at home after dark in Loyalsock township, Lycoming county, Pa. Every well regulated community should import a spotted hyena at once. Johns Hopkins university at Baltimore has opened with 160 graduate students enrolled, and 113 undergraduates, or a total of 273. This is an increase over last year of 18 per cent., and a few more additions may be expected before December. The number of new students is 132. The South Carolina Presbyterian Synod passed the following resolution: Resolved. That in the judgment of this synod the teaching of evolution at the theological seminary at Columbia, except in a purely expository manner, with no intention of inculcating its truth, hereby disapproved. H. Lyon & Son, dry goods, gents' furnishing goods and notions, of St. Louis, have assigned. Liabilities, $60,000; assets, $50,000. Mr. Lyon, Sr., also assigned his individual property, consisting of real estate valued at $12,000, to Tenbroeck. The debts of the firm are chiefly in Eastern cities. Gov. Robinson recently issued orders directing the release from costody of Mrs. George