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Michigan Jackson
The result of this report was that the " Jackson County Bank " was closed and its assets placed in the hands of a receiver. On the 21st of August, 1838, Amasa B. Gibson, as receiver, gives notice " that on October 1st every demand that day due the bank will be put in suit."
In 1838 the Detroit and St. Joseph Railroad Bank was organized and commenced operations on the east side of the river, with William Ford as president and Amasa B. Gibson as cashier. This bank continued doing business for some three years, when the supreme court of the state declared the law of March, 1837, unconstitutional, and all the banks ' organized under it were closed.
After the collapse of the wild-cat banks, Jackson was without banking facilities until George B. Cooper engaged in the banking business in 1848. In 1851 William D. Thompson became associated with him. This institution has from its foundation been the principal banking establishment of Jackson, and is now incorporated under the name of the Jackson City Bank. William D. Thompson is president and Benjamin C. Newkirk is cashier.
In March, 1856, Peter B. Loomis and Samuel Whitwell commenced the banking business under the name of Loomis & Whitwell. In 1865,
Jackson
Section 3
Page 17
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