German Exchange Bank (Portage, WI)

Episode Information

Episode UID
1320871091123
Episode Type
Suspension → Closure
Bank Type
trust
Bank ID
132087109 hash
Start Date
July 26, 1893
Location
Portage, Wisconsin (43.539, -89.463)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
3fde4cc2f843fb25

Response Measures

None

Description

Articles state the bank failed/closed but give no reopening or receiver details.

Events (1)
1. July 26, 1893 Suspension
Cause
Macro News
Cause Details
Failure occurred amid the July 1893 regional banking panic and related bank failures in Wisconsin; bank closed/fails.
Newspaper Excerpt
the German Exchange Bank at Portage ... has failed
Source
newspapers

Newspaper Articles (5)
1. July 27, 1893 New-York Tribune New York, NY
Article from New-York Tribune, July 27, 1893

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Article Text

closed down yesterday evening owing to the failure. The company had a large deposit in the Indianapolis National Bank, and all its ready money is thus tied up. Louisville, Ky., July 26.--The financial situation was perceptibly easier here to-day. Yesterday's storm, which closed three banks, has relleved the surcharged atmosphere in money circles, and the worst is believed to be over. Those banks which have stood the drain until now are in little danger of going down, as the greatest pressure has passed over. The country banks, which caused all of the trouble, have done all the harm that lies in their power. The local situation has never been at all serious. A nunber of the smaller depositors, it is true. have taken alarm and withdrawn their deposits from some of the banks, but the drain from this source has not been sufficient to cause any embarrassment. Most of the banks received big bundles of cash this morning from outside places. One bank, which was the subject of rumor, raised $300,000 in Chicago, which placed It on a solid basis. Milwaukee, July 26.-Specials to "The Wisconsin" report two small bank failures in the interior of the State, viz., the German Exchange Bank at Portage and John Lienlokken, a private banker at Lacrosse. The Portage bank is capitalized at $25,000. No statement of assets or liabilities is given. Lienlokken's liabilities are placed at $10,000. Columbus, Ind., July 26.-AP unusual meeting of capitalists was held here last evening. It was a gathering of the stockholders of the First National Bank for the purpose of signing and publishing a statement that the stockholders. who are worth $4,000,000, pledged their personal property for the payment in full of all deposits.

2. July 27, 1893 The Sun New York, NY
Article from The Sun, July 27, 1893

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Article Text

Other Bank Failures. MILWAUREE. July 26.-Specials to the Wisconsin report two small bank failures in the interior of the State. viz., the German Exchange Bank at Portage and John Lienlokken. a private banker at Lacrosse. The Portage bank is capitalized at $25,000. No statement of assets or liabilities is given. Lienlokken's liabilities are placed at $10.000. WASHINGTON, July 26.-The First National Bank of Grundy Centre. Iowa, has informed Comptroller Eckels that it expects to resume business Aug. 1 under a new management. The Farmers' National Bank of Henrietta. Tex.. and the Farmers' National Bank of Findlay. Ohio. which failed yesterday. expect to resume in a short time-the latter on Monday next. MANCHESTER. N. H., July 26.-C. M. Dorr of Somersworth. a national bank examiner. today took charge of the suspended National Bank of the Commonwealth. There is no change in the financial situation here. All banks are confident that the worst is over. locally. BRISTOL. Tenn.. July 26.-The Bristol Bank and Trust Company yesterday decided to go into voluntary liquidation. They have $80,000 assets. and owe depositors only $15,000. Unprofitable business is the cause.

3. August 2, 1893 The Star Reynoldsville, PA
Article from The Star, August 2, 1893

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Article Text

LATE TELEGRAPHIC JOTTINGS BOTH FROM HOME AND ABROAD. What is Going On the World Over. Important Events Briefly Chronicled. Financial and Commercial. MORE BANKS ARE REOPENING.-The comptroller of the currency is advised that the Hutchinson national bank of Hutchinson, Kan., which failed sometime ago, is preparing to resume business. The First National Bank of Cisco, Tex., which suspended, has been permitted to reopen its doors. Business men of Pueblo, Col., declared their faith in Colorado's business stability and denounced the intemperate language of the rabid silverites. Parkhust & Wilkinson, iron merchants, Chicago, assigned. Assets estimated at $1,000,000. Ripley & Bronson, :iron merchants. St. Louis, assigned. assets $150,000; liabilities about the same. The suspended Queen City Ban's, Buffalo, N.Y., will resume business the first week of August with a capital reduced to $300,000. At Findlay, O., the Farmers National Bank closed its doors. Depositors will be paid in full. The J. Oberman Brewing Company, Milwaukee, assigned. The bank panic at Milwaukee is over. Financial disturbances at Louisville, Ky., are over. In the banks every depositor who wanted his money got it. Some of the suspended banks, it is said, will soon resume. At Lacrosse, Wis., the private bank of John Dienlokken has closed its doors. At Portage, Wis., the German Exchange Bank has failed, At Helena, Mont., the First National bank and the Montana National bank suspended. Both has ample assets and will pay in full. At Middlesborough, Ky., the First National Bank has closed its doors. At Portland, Ore., the Oregon National Bank and the Northwest Loan and Trust Company suspended. At Spokane, Wash., the First National Bank, paid up capital $200,000, and the Spokane Savings Bank, its dependent. tem. porarily suspended. At Portage, Wis., the City Bank closed its doors. At Mt. Sterling, Ky., the Farmers' bank closed its doors.

4. August 3, 1893 The Middleburgh Post Middleburg, PA
Article from The Middleburgh Post, August 3, 1893

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Article Text

LATE TELEGRAPHIC JOTTINGS BOTH FROM HOME AND ABROAD. What is Going On the World Over. Important Events Briefly Chronicled. Financial and Commercial. MORE BANKS ARE REOPENING.-The comptroller of the currency is advised that the Hutchinson national bank of Hutchinson, Kan., which failed sometime ago. is pre paring to resume business. The First National Bank of Cisco. Tex., which suspended, has been permitted to reopen its doors. Business men of Pueblo, Col., declared their faith in Colorado's business stability and denounced the intemperate languageof the rabid silverites. Parkhust & Wilkinson. iron merchants, Chicago. assigned. Assets estimated at $1,000,000. Ripley & Bronson, :iron merchants, St. Louis, assigned. assets $150,000; liabilities about the same. The suspended Queen City Bank. Buffalo, N.Y., will resume business the first week of August with a capital reduced to $300,000. At Findlay, O., the Farmers National Bank closed its doors. Depositors will be paid in full. The J. Oberman Brewing Company, Milwaukee, assigned. The bank panic at Milwaukee is over. Financial disturbances at Louisville, Ky., are over. In the banks every depositor who wanted his money got it. Some of the suspended banks, it is said, will soon resume. At Lacrosse, Wis., the private bank of John Dienlokken has closed its doors. At Portage, Wis., the German Exchange Bank has failed, At Helena. Mont, the First National bank and the Montana National bank suspended. Both has ample assets and will pay in full. At Middlesborough, Ky., the First National Bank has closed its doors. At Portland, Ore., the Oregon National Bank and the Northwest Loan and Trust Company suspended. At S okane, Wash., the First National Bank. paid up carital $200,000, and the Spokane Savings Bank, its dependent. ten porarily suspended. At Portage, Wis., the City Bank closed its doors. At Mt. Sterling, Ky., the Farmers' bank closed its doors.

5. August 19, 1893 Mineral Point Tribune Mineral Point, WI
Article from Mineral Point Tribune, August 19, 1893

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Article Text

PORTAGE MERCHNT FAILS. Portage, Wis., Aug. 15.-W. J. Westlake, doing business, failed yesterday. He was carried down by the suspension of the German Exchange bank. His total liabilities will not exceed $1,000. Marshfield, Wis., Aug. 15.-Charles Schmirler, doing a general boot and shoe business in this city, made a voluntary assignment this morning to Henry Horn for the benefit of his creditors. Liabilities $2,600; assets $6,000.