In the course of the year 1839 the first newspaper published in Peru, was established by Ford, now Editor and proprietor of the "Lacon Gazette" in connection with Geo. W. Holley who acted as editor, and was called the "Ninawa Gazette." Mr. Holley was a gentleman of considerable literary reputation and made a paper which was eagerly sought for. His writings were principally distinguished for their peculiar vein of humor and pleasantry. The paper was continued until 1841, when the press and materials were removed to Lacon. The first Church built in the town, was erected by the Methodists in the fall of 1838. CHAPTER III. Election in 1840--The Bangs Enterprise--Erection of the Stone Church--Donation of the Bell--Visit of Messrs. Van Buren and Paulding. At an election held on the 18th December 1840, H. P. Woodworth, Churchill Coffing, Ezra McKinzie, Isaac Abraham and Geo. Low were elected Trustees. Whole number of votes polled 32. This Board elected Isaac Abraham their President; James Bradford Clerk; James Myers, Assessor; F. Lebeau Constable, T. D. Brewster Treasurer; and M. Mott Street Commissioner. Subsequently F. Mills was elected Constable in place of Lebeau who resigned, and John Hoffman Fire Warden. On the 27th February 1841 an act passed the Legislature chartering the La Salle and Dixon Rail Road, giving to the Corporation created, the right of way and materials belonging to that part of the old Central Rail Road lying between the two points named. During the year operations were recommenced on this work, and a Bank of issue, pretended to be authorized by the Charter, was opened in La Salle. These operations for a short time galvanized into life the prostrated energies of the remaining inhabitants of Peru, but were shortly succeeded by the bursting of the whole concern. The leading spirit of this movement was a man named A. H. Bangs, who succeeded in making dupes or accomplices of several leading and influential inhabitants of La Salle and Lee Counties. After the explosion it was found that he was a mere adventurer, without character, reputation, capital or credit. Not an hundred dollars in cash or a dollar of good and reliable paper had been used in starting and continuing the construction of forty miles of Rail Road, and putting into operation a Bank which soon flooded the whole country with its worthless promises to pay, and draw liberally upon its imaginary eastern and foreign correspondents. The contractors were, of course, unable to pay the laborers, and the farmers who had supplied them with provisions. The former, enraged by their wrongs, attempted to wreak their vengeance upon the person of the culprit, Bangs. They seized and dragged him through the muddy streets of the town. He was finally rescued by the citizens, partly through menaces and partly through intercession, without material injury, placed in a skiff, and sent down the river. Had he possessed one thousand dollars in real cash,