Seymour's Bank (Chippewa Falls, WI)

Episode Information

Episode UID
1780314191123
Episode Type
Suspension β†’ Closure
Bank Type
trust
Bank ID
178031419 hash
Start Date
July 29, 1893
Location
Chippewa Falls, Wisconsin (44.937, -91.393)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1417d6a04aa73289

Response Measures

None

Description

Local examination found the bank in bad shape and the president gave weak testimony; bank appears to have closed permanently.

Events (1)

1. July 29, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank found to be in bad shape on court-commissioner examination; insolvency/poor affairs revealed.
Newspaper Excerpt
Seymour's bank of this city closed its doors yesterday.
Source
newspapers

Newspaper Articles (11)

Article from The Portland Daily Press, July 29, 1893

Click image to open full size in new tab

Article Text

BRIEFLY TOLD. The American Bank at Port Washington, Wis., and Seymour's bank at Chippewa Falls, Wis., have failed. S. H. Morrison, lumber dealer, Camden, N. J., has suspended business. Col. Frederick Ainsworth and the others indicted in connection with the Ford's theatre disaster in Washington, pleaded not guilty yesterday. About 2000 miners in the Rich Hill,


Article from The Helena Independent, July 29, 1893

Click image to open full size in new tab

Article Text

Business Failures. DENVER. July 28.-The Denver Hardware company has failed for a large amount. No statement. PORTLAND, Ore., July 28.-The Union Did Banking company has failed. small business. MT. STERLING, Kv., July 28.-The Traders' Deposit bank failed as a result of a run. Liabilities $150,000, assets $390,000. MILWAUKEE. July 28.-Specials report the failure of the German American bank, of Port Washington, and Seymour's bank. of Chiprews Falls. HARRISBURG, Pr., July 28. - The Harrisburg rolling mills. one of the largest creditors of the American Iron & Tube company. which failed yeaterday. abut down indefinitely.


Article from The Morning Call, July 29, 1893

Click image to open full size in new tab

Article Text

pany aggiegates about $20,000, and it has a paid up capital stock of $85,000. DENVER. July 28.-The Denver Hardware Company has failed for a large amount. There is no statement. MOUNT STERLING. Ky., July 28.-The Traders' Deposit Bank has failed, as the result of a run; liabilities, $150,000. MILWAUKEE, July 28.-Specials report the failure of the German-American Bank at Port Washington, and Seymour's Bank at Chippewa Falls. DENVER, July 28. - The Confidence mines, in the Mogoilen Mountains. have been attached by Silver City (N. Mex.) banks and the First National Bank of this city. The attachments aggregate $45,000. The mines are owned by George Crawford of New York. PITTSBURG, July 28.-The Bessemer steel department of Jones & Laughlin's plant closed down to-day, throwing 500 men out of employment. A condition of uncertainty exists also at the works of the Oliver Iron and Steel Company and the employes are apprehensive of a protracted shutdown. COVINGTON, Ind., July 28. - The Farmers' and Merchants' Bank of this city closed to-day owing to the heavy demand for money and an inability to realize on securities. There is no statement as yet. Ex-United States Treasurer Nebeker is its president. NEW YORK, July 28.-It is learned tonight that an important meeting of the presidents of savings institutions in New York and Brooklyn was h-ld to-day, at which it was decided to recommend to the trustees and directors of the various banks to enforce the sixty days' notice clause on savings banks. CONCORD. N. H., July 28-The Derryfield Savings Bank and Trust Company of Manchester, with deposits of $150.000, which has been under temporary suspension since the closing of the National Bank of the Commonwealth, was enjoined to-night from transacting any further business by Bank Commissioner Lyford.


Article from The Sun, July 29, 1893

Click image to open full size in new tab

Article Text

MORE BANKS FAIL. Four In Wisconsin, One in Montana, and Another in Kentucky. MILWAUKEE. July 28.-Two banks in Sparta. Wis., closed their doors here yesterday. the M. A. Thayer Bank and the Bank of Sparta. The cashiers of both institutions say that the action was taken to protect depositors and that the banks will resume. The liabilities of the M. A. Thayer Bank are placed at about $175.000 and the assets at $225,000: while the liabilities of the Bank of Sparta are said to be $210,000. with assets of $300,000. The German-American Bank at Port Washington and Seymour's Bank at Chippewa Falls, Wis., failed to-day. GREAT FALLS. Mont. July 28.-The First National Bank of this city suspended this morning. owing to the Helena bank suspensions. Assets are much above liabilities. and it is believed it will soon resume. The bank was owned in large part by the Great Falls Town Site Company. and was a depository for the Great Northern Railway. It has a capital of


Article from Daily Kennebec Journal, July 29, 1893

Click image to open full size in new tab

Article Text

NEWS NUGGETS. Srought by the Wires From the North. East South and West. The Ellensburg National Bank of Ellensburg Wash. suspended payment Thursday. The First National Bank of Great Falls, Mont., suspended Friday noon. The bank's assets are much above the liabilities. A Negaunee (Mich.) dispatch says that the North Buffalo Mint of the Buffalo Mining Company closed down Wednesday night. The Minnesota Iron Company will immediately close all mining operations at the hard ore mines of the company in Michigan until further notice. Adolph Goldsmith & Son, jewelers and diamond dealers, 38 Maiden lane, New York, have assigned. It is believed their liabilities will be large. A special from Port Washington, Wis., says the German American Bank at that place failed Friday. Seymour's Bank at Chippewa Falls also failed. At a meeting of the Tremont and Suffolk mills at Lowell, Mass., held in Boston, Friday. it was voted to operate these mills on half time. beginning Friday. Surgeon Martin of the navy, on duty at Marseilles, cabled Dr. Wyman, surgeonveneral of the marine hospital, Friday that cholers prevails at Lavalette and Aubenas, France. James G. Hill of the Great Northern Railway has purchased the Sioux City Northern Railway and also the Sioux City, Yankton & Southwestern Railway now under construction. An Ishpeming (Mich) telegram says that the Lake Superior Iron Company, which laid off 250 men 10 days ago, will close down section 16 of their mine, throwing 200 men out, Saturday night. The New Farmers' Bank of Mt. Sterling, Ky., closed its doors Friday. The deposits are about $300,000. The bank holds first-class paper to the amount of $600,000. Depositors will be paid in full. The Traders' Deposit Bank of Mount Sterling, Ky., has suspended owing to H the avy run bn the bank Tuesday caused by the suspension of the Farmers' Bank. The bank owes $150,000 and has $390,000 of assets, po The wire nail manufacturers of Pitts. burg, Pa., held a meeting and, in view of the depressed condition of business. it WHS decided to continue the shut down until Sept. 1. All wire nail manufactories in the United States are shut down at present. The schooner Aldine from Rockport, Maine, July 15, for Port De Paix. Hayti, hich put into Bahia for repairs, has been the pas that she discharge her cargo, as she is leakng badly and her upper works are dampase Two banks closed their doors at Sparta. Wis., Friday, the M. A. Thayer bank and the Bank of Sparta. Liabilities of the Thayer Bank are about $175,000. and the assets $225,000. The liabilities of the Bank of Sparta are 8210,000, with assets 10 The Harrisburg Rolling Mill Co., one of the largest creditors of the American Tabe and of Harrisburg. Pa., which


Article from The Salt Lake Herald, July 29, 1893

Click image to open full size in new tab

Article Text

TELEGRAPHIC BREVITIES. The Denver Hardware company has failed for a large amount. No statement. Adolph Goldsmith & Son, jewelers of New York, have failed. Liabilities $200,000. At Portland, Ore., the Union Banking company failed yesterday. It did a small business. Director of the Mint Preston on yesterday purchased 100,000 ounces of silver at $0.7030 per ounce. Forty cases and twelye deaths from choleratic disease are reported in the El Pinde, Spain, district. Wilde & Wickhams, wholesale teas, coffees and spices, of New York, have assigned. No statement. The president has issued a proclamation including Portugal in the benefits of the international copyright act. At Dallas, Tex., yesterday, Henry Miller, colored, was hanged for the murder of Policeman Drewer last year. Ada Hiers, a negress, was hanged at Waltersbo, S. C., yesterday, for the murder of her half brother last June. Specials report the failure of the German American bank of Port Washington, and Seymour's bank, Chippewa Falls, Wis. Three hundred and forty-seven thousand dollars in gold came in on one steamer at New York yesterday morning from Europe. The amount of silver offered the treasury yesterday was 250,000 ounces at $0,7050 to $0,7060. All were declined and $0,7020 tendered. Sheriff Curtis of Brooke county, W. Va., has been arrested. Investigation shows that the amount of his shortage of state and county funds will be over $40,000.


Article from Evening Star, July 29, 1893

Click image to open full size in new tab

Article Text

Suspension of Western Banks. Specials from Port Washington say the German-American Bank at that place has failed. Another special says Seymour's Bank at Chippewa Falls also failed. The Traders' Deposit Bank at Sterling. Ky., stood the strain of a steady run all day Thursday and paid all calls on demand, but the officers concluded that the wisest thing to do was to assign, as the chances were that yesterday's run would be heavier than Thursday's. The bank owes about $150,000 and has assets to the amount of $390,000. It is thought the bank will be able to resume in a very short time.


Article from Grant County Herald, August 3, 1893

Click image to open full size in new tab

Article Text

OUT OF CASH. Many Banks in Various Localities Forced to Close Their Doors. Milwaukee, July 29.-A dispatch from Port Washington says the German American bank at that place has failed. Another special says Seymour's bank at Chippewa Falls also failed. CHIPPEWA FALLS, Wis., July 29.Seymour's bank of this city closed its doors yesterday. PORTLAND, Ore., July 29.-The Union Banking company of this city made an assignment yesterday. PORT WASHINGTON, Wis., July 29.-The German-American bank of this city closed its doors yesterday. STANTON, Mich., July 29. - C. W. Chopin & Co.'s bank here closed yesterday with a crowd of depositors at its doors. COVINGTON, Ind., July 29.-The Farmers' and Merchants' bank of this city closed up at 1 o'clock yesterday. ExUnited States Treasurer Nebeker is the president. MIDDLESBORO, Ky., July 29.-The First national bank of this place closed yesterday. GREAT FALLS, Mont., July 29.-The First national bank here suspended yesterday owing to the Helena bank's suspension. WASHINGTON, July 30.-Bank failures were reported to the comptroller as follows yesterday: First national at Kankakee, Ill.; Dollar savings bank at Youngstown, O.; Citizens' Savings and Loan association at Akron, O.; Commercial national, Ainsworth national and Portland savings banks at Portland, Ore.; Commercial at Eau Claire, First Wis.; Savings at Baraboo, W Exnational at Ashland, Wis., and change at Nunda, 111. WASHINGTON, Aug. 1.-Bank failures were reported as follows yesterday: First national at Portland, Ore.; First national at The Dalles, Ore.; Pendleton savings at Pendleton, Ore.; Bellingham Bay national at Whatcom, Wash.; Springfield savings at Springfield, Mo.; Akron savings at Akron, 0.; private bank of A. Daniels & Co. at Cedar Rapids, Ia.; private bank of J. W. Case at Astoria, Ore., and Park national at Livingston, Mont.


Article from The State Herald, August 4, 1893

Click image to open full size in new tab

Article Text

THE FINANCIAL SITUATION. On the 25th the Mitchell bank at Milwaukee closed its doors. Its deposits amount to nearly $8,000,000, assets $9,000,000. At Indianapolis the Indianapolis National bank and the Bank of Commerce closed their doors. Joint liabilities $2,500,000. Three banks at Louisville, Kentucky, also failed on the 25th. They are the Merchants' National, the Fourth National and the Louisville Deposit bank. None of the failures are considered bad ones. Depositors in the two national banks will be paid in full, and the loss to stockholders will not be more than 60 per cent. in either case. The situation on the New York stock exchange on the 28th was critical and a panic was narrowly averted. The news that the Erle railroad had gone into the hands of a receiver was largely responsible for the break in stocks which fell from 1 to 4 points. H. I. Nicholas & Co., brokers, assigned. The First National and Montana National banks of Helena, failed to open Thursday morning. A run followed on theother banks of the city. The run was confined principally to the Merchants' National bank, which paid everybody. They are confident that they will be able to stand the run. The two closed banks have ample assets, but cannot realize on them. The Oregon National bank and the Northwest Loan and Trust company of Portland failed to open their doors on the 27th. A notice on the door says: "Owing to withdrawal of deposits and the Inability to realize on securities this bank is forced to suspend." The First National of Middleboro, Kentucky, closed on the 27th. Two banks at Sparta, Wisconsin, closed, also a bank at Portage. The Ellensburg, Washington, National bank suspended payment. In consequence of a run upon It the Traders' Deposit bank of Mount Sterling, Indiana, suspended. The following banks failed on the 28th: First National at Great Falls, Montana; German National at Washington, Wisconsin; Seymour's Bank at Chippewa Falls, Wisconsin; Chamberlain National at Chamberlain, South Dakota. The publication of the intended action of the New York and Brooklyn savings banks and institutions to put into practice the law entitling them to sixty days' notice from depositors of intended withdrawals of money precipitated a run Saturday. Some of the banks paid the amount In full, and thus sought to restore confidence. Others required notice, the time ranging from ten to ninety days, according to the period specified in the by-laws. The Commercial National, Ainsworth National and Portland Savings bank of Portland, Oregon, closed their doors on the 29th. The following banks also closed on that date: Citizens Savings, Akron, Ohio; First National, Kankakee, Illinois; Commercial, Eau Claire, Wisconsin; Barron Brothers, Lusk, Wyoming. The McNeal & Urban Safe and Lock Company, one of the oldest safe firms in the country, have assigned to Howard Douglass of Cincinnati. Assets, $160,000; liabilities unknown. The firm has been unfortunate in several large contracts, but it Is claimed that it is solvent. The New York clearing-house committee on the 31st authorized the Issue of $2,500,000 more in loan certificates, which brings the total issue outstanding up to $27,975,000. It may be noted that $26,565,000 was the maximum Issue of 1873, but this comparison is really less impressive than it seems, for a very considerable part of this year's New York issues has In practical effect, been provision for Chicago. No banks applied, so the dispatches stated, for loan certificates in the city. A secondary result of the local money scarcity was an absolute want of bids for sterling bills, exchange rates going on some transactions below the year's previous lowest record. The following banks suspended on the 31st: Springfield Savings, at Springfield, Misssouri; First National, Ashland, Wisconsin: First National, Dalles, Oregon: Bellingham Bay National Whatcom lequiring Notice of When drawal of deposits.


Article from The Meeker Herald, August 5, 1893

Click image to open full size in new tab

Article Text

THE FINANCIAL SITUATION, On the 25th the Mitchell bank at Milwaukee closed Its doors. Its deposits amount to nearly $8,000,000, assets $9,000,000. At Indianapolis the Indianapolis National bank and the Bank of Commerce closed their doors. Joint liabilities $2,500,000. Three banks at Louisville, Kentucky, also failed on the 25th. They are the Merchants' National, the Fourth National and the Louisville Deposit bank. None of the failures are considered bad ones. Depositors in the two national banks will be paid in full, and the loss to stockholders will not be more than 60 per cent. in either case. The situation on the New York stock exchange on the 26th was critical and a. panic was narrowly averted. The news that the Erie railroad had gone into the hands of & receiver was largely responsible for the break In stocks which fell from 1 to 4 points. H. I. Nicholas & Co., brokers, assigned. The First National and Montana National banks of Helena, failed to open Thursday morning. A run followed on theother banks of the city. The run was confined principally to the Merchants' National bank, which paid everybody. They are confident that they will be able to stand the run. The two closed banks have ample assets, but cannot realize on them. The Oregon National bank and the Northwest Loan and Trust company of Portland failed to open their doors on the 27th. A notice on the door says: "Owing to withdrawal of deposits and the inability to realize on securities this bank is forced to suspend." The First National of Middleboro, Kentucky, closed on the 27th. Two banks at Sparta, Wisconsin, closed, also a bank at Portage. The Ellensburg, Washington, National bank suspended payment. In consequence of A run upon It the Traders' Deposit bank of Mount Sterling, Indiana, suspended. The following banks failed on the 28th: First National at Great Falls, Montana; German National at Washington, Wisconsin Seymour's Bank at Chippewa Falls, Wisconsin; Chamberlain National at Chamberlain, South Dakota. The publication of the intended action of the New York and Brooklyn savings banks and institutions to put Into practice the law entitling them to sixty days' notice from deithdrawals of money positors of Intended precipitated a run Saturday. Some of the banks paid the amount in full, and thus sought to restore confidence. Others required notice, the time ranging from ten to ninety days, according to the period specified in the by-laws. The Commercial National, Ainsworth National and Portland Savings bank of Portland, Oregon, closed their doors on the 29th. The following banks also closed on that date: Citizens Savings, Akron, Ohio; First National. Kankakee, Illinois; Commercial, Eau Claire, Wisconsin: Barron Brothers, Lusk, Wyoming. The McNeal & Urban Safe and Lock Company, one of the oldest safe firms in the country, have assigned to Howard Douglass of Cincinnati. Assets. $160,000; liabilities unknown. The firm has been unfortunate in several large contracts, but It is claimed that It is solvent. The New York clearing-house committee on the 31st authorized the issue of $2,500,000 more In loan certificates, which brings the total issue outstanding up to $27,975,000. It may be noted that $26,565,000 was the maximum issue of 1878, but this comparison is really less impressive than It seems, for a very considerable part of this year's New York Issues has in practical effect, been provision for Chicago. No banks applied, 50 the dispatches stated, for loan certificates in the city. A secondary result of the local money scareity was an absolute want of bids for sterling bills, exchange rates going on some transactions below the year's previous lowest record. The following banks suspended on the 31st: Springfield Savings, at Springfield, Misssouri; First National, Ashland, Wisconsin: First National, Dalles, Oregon: Bellingham Bay National, Whatcom, Washington. Savings


Article from Watertown Republican, September 13, 1893

Click image to open full size in new tab

Article Text

STATE GAME WARDEN FERNANDEZ has the mounted skin of a two-headed calf on exhibition in his officeat the capitol. JOHN MΓ²rris, of Yorkville, Racine County, is the possessor of a curiosity in the shape of a horned pig. VIRGIL A. HENWOOD, a resident of Madison for over thirty years, is dead, aged 53. ATTORNEY-GENERAL O'CONNOR is ill at Madison. WAR EAGLE, one of the tribe of Winnebagoes in the village on Midway Plaisance, World's Fair, died at the Mercy Hospital on the 4th inst., aged 42. For many years he had been a government scout. War Eagle came to the city about six weeks ago and was soon taken sick. It was found he was suffering from paralysis and he was taken to the hospital. While the physicians were endeavoring to save War Eagle's life, Green Cloud, the medicine man of the Winnebago tribe, arrayed himself for incantations and sang weird songs to the Great Spirit to save War Eagle, but neither art nor sorcery availed and the spirit of the brave sought his fathers. AN examination of the affairs of Seymour's bank which failed recently, is being conducted at Chippewa Falls before a court commissioner. The president, D. E. Seymour, has been on the stand two days, and thus far has shown a surprising lack of knowledge of the bank's affairs. The bank is in bad shape. On theafternoon of the 4th after the examination closed a woman who had $900 in the bank attacked Mr. Seymour, and a crowd gathering he had to be hurried away. There is much excitement. BAHMAN CLARK, aged 95 years and 18 days, died at Hebron, on the farm where he had lived since coming to the state in the spring of 1849. His father was a Revolutionary soldier, and was present at the surrender of Burgoyne. An iron-bound wood mortar, with wood trestle, picked up by him on the battlefield of Saratoga, has been preserved and is now owned by his grandson. His mother's name was Mary Lee, of the Virginia family of Lees, and not remote from the family of Gen. R. E. Lee. BEARS make it dangerous for children to frequent the woods near Florence. A fine cow belonging to Editor Youngs, of the Mining News, was shockingly mutilated by a savage bear recently. SPARKS from a hunter's gun ignited the grass on Barnes' Flats, near Racine. Fifty tons of hay in stack were destroyed and over 100 acres of land were swept by the flames. THE School Board at Washburn took forcible possession of the new school building now being erected at that place, dispossessing the contractor, the Minnesota Stone Company, of Minneapolis, the architect having condemned the work being done. The contractor will take the matter into the courts. Meanwhile the city has possession and will probably go on and complete the building which is of brown stone and will cost $40,000. THE Racine Land and Improvement Company has begun suit against Michael Hanley, of Racine, and Roberts Bros., of Milwaukee, for $6,032, alleged to be withheld on the sale of the Walker property, west of Racine. Hanley, as one of the incorporators of the company, sold the property. He claims that he sold it at $320 per acre, while the company claims he sold it for $400 per acre and is holding back the balance of $6,032. THE Board of Pub ic Works at Racine has awarded contracts for over $10,000 worth of sewers, which means employment for a large number of the unemployed laboring men in the city. The city treasurer is selling $50,000 sewer bonds to pay for sewer work. SUPERVISOR A. J. BRUHA, of La Crosse, was shot and seriously woundad while helping himself to wild grapes on a farm at Dresbach, Minn. He was not aware that he was trespassing until he saw the farmer's wife run towards him with a horse pistol.