Winona Savings Bank - Winona, MN

Bank Information

Episode Type: Suspension → Reopening
Bank Type: savings bank
Start Date: August 9, 1893
Location: Winona, Minnesota (44.050, -91.639)

Metadata

Model: gpt-5-mini
Short Digest: 010a5db7

Response Measures

None

Description

Article (Aug 1893) states the First National Bank of St. James was suspended and that directors/stockholders issued a circular guaranteeing deposits and asserting the bank is solid. No explicit run or receivership is mentioned; directors' guarantee implies intent/expectation to resume payments, so I classify as a suspension with likely reopening (reopening not explicitly confirmed).

Events (1)

1. August 9, 1893 Suspension

Cause Details: Article does not state a specific cause for suspension; directors issued circular guaranteeing deposits and asserting bank solidity.
Newspaper Excerpt: the suspended First National Bank of St. James are out with a circular guaranteeing all deposits now in the bank and all made during 1893. The bank is solid.
Source: newspapers

Newspaper Articles (1)

1. August 17, 1893 The Princeton Union Princeton, MN

Article from The Princeton Union, August 17, 1893

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Article Text

Wednesday, Aug. 9. Examiner Kenyon makes a report on the banks of the state. The Winona Savings bank has given notice that it will temporarily take advantage of the time allowed it by law for the payment of large deposits. The cause is the impossibility of procuring currency. The proposition to issue $50,000 in bridge bonds to rebuild the St. Germain street bridge at St. Cloud was over-whelmingly defeated in a special election. The city will now expend $15,000 on the job. The directors and stockholders of the suspended First National Bank of St. James are out with a circular guaranteeing all deposits now in the bank and all made during 1893. The bank is solid. At a fire which occurred at Winona Miss Laura Brown rushed into a burning barn and at the risk of her life saved three horses. Shortly after the last one was rescued the structure col lapsed and was totally destroyed. Her action is highly praised, and she has been rewarded in a substantial manner.