Fourth National Bank of Chicago

Fourth National Bank of Chicago was a financial institution which went into liquidation on September 25, 1875. The bank did not recover from the Great Chicago Fire of 1871 and the ensuing financial crisis which followed it.

Its deposits amounted to only $120,000 at the time of its closing. $72,000 of this belonged to the city of Chicago, with the remainder the property of depositors. Bills receivable amounted to $300,000. A clearinghouse debit of $25,000, presented on the morning of September 25, precipitated its prompt closing. The debt was anticipated not to be above $10,000.^[1]

References

1. Suspension of a Chicago Bank, New York Times, September 26, 1875, pg. 1.