19519. Berlin National Bank (Berlin, WI)

View Charter #4641 on SPMC

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
4641
Charter Number
4641
Start Date
November 17, 1904
Location
Berlin, Wisconsin (43.968, -88.943)

Metadata

Model
gpt-5-mini
Short Digest
abdcc8206a60125f

Response Measures

Capital injected, Full suspension

Receivership Details

Depositor recovery rate
70.0%
Date receivership started
1904-11-17
Date receivership terminated
1911-12-31
OCC cause of failure
Losses
Share of assets assessed as good
47.2%
Share of assets assessed as doubtful
38.0%
Share of assets assessed as worthless
14.8%

Description

Multiple contemporary newspaper dispatches (Nov 17–18, 1904) report a run caused by depositors misconstruing notices about a 60% assessment; the bank closed/suspended and the Comptroller appointed Bank Examiner Parker as receiver. Dates taken from dispatches (Nov 17–18, 1904).

Events (5)
1. October 8, 1891 Chartered
Source
historical_nic
2. November 17, 1904 Receivership
Source
historical_nic
3. November 17, 1904 Receivership
Newspaper Excerpt
Bank Examiner Parker immediately was appointed receiver.
Source
newspapers
4. November 17, 1904 Run
Cause
Rumor Or Misinformation
Cause Details
Public notices about a planned 60% assessment to strengthen the bank were misconstrued by depositors, provoking heavy withdrawals (a run).
Measures
Directors closed the bank's doors; notice posted stating business placed in hands of the Comptroller of the Currency; meeting of stockholders called to arrange assessment.
Newspaper Excerpt
These notices were misconstrued by the depositors; a run on the bank resulted
Source
newspapers
5. November 17, 1904 Suspension
Cause
Rumor Or Misinformation
Cause Details
Suspension followed the run caused by misconstrued notices about assessments; directors determined to close doors due to seriousness of withdrawals.
Newspaper Excerpt
Owing to the withdrawal of deposits the business of this bank has been placed in the hands of the Comptroller of the Currency.
Source
newspapers

Newspaper Articles (15)
1. November 18, 1904 The Daily Morning Journal and Courier New Haven, CT
Article from The Daily Morning Journal and Courier, November 18, 1904

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Article Text

BANK TROUBLES, National of Belin, Wis., Closes Its Doors -A President Arrested. Berlin, Wis., Nov. 17.The Berlin National bank closed its doors at noon today and posted a notice saying: "Owing to the withdrawal of deposits the business of this bank has been placed in the hands of the comptroller of the currency." A meeting of the stockholders had been called for December 5 to arrange for paying a sixty per cent. assessment in order to strengthen the bank and to remove any doubtful paper which might be found. Notices had been issued to the public stating the bank's determination to strengthen itself. These notices were misconstrued by the depositors, a run on the bank resulted, and became soserious that the directors determined to close the doors. The deposits aggregate $180,000.

2. November 18, 1904 Perth Amboy Evening News Perth Amboy, NJ
Article from Perth Amboy Evening News, November 18, 1904

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Article Text

Wisconsin Bank Fails. WASHINGTON, Nov. 18.-The comptroller of currency last night received a dispatch from the cashier of the Berlin National bank of Berlin, Wis., announcing that because of a run on the bank its doors were closed. Bank Examiner Parker immediately was appointed receiver.

3. November 18, 1904 The Cairo Bulletin Cairo, IL
Article from The Cairo Bulletin, November 18, 1904

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Article Text

RUN ON A BANK CLOSED ITS DOORS STATEMENT ISSUED THAT IT INTENDED TO STRENGTHEN ITSELF WAS MISCONSTRUED BY DEPOSITORS. By the Associated Press. Berlin, Wis., Nov. 17.-The Berlin National bank closed its doors at noon today and posted a notice to the effect that the suspension was due to the withdrawal of deposits. The meeting of the stockholders had been called for December 5 to arrange for paying sixty per cent assessments in order to strengthen the bank and remove any doubtful paper which might be found. Notices had been issued to the public stating the bank's determination to strengthen itself. These notices were misconstrued by depositors; a run on the bank resulted. and became so serious hat the directors determined to close the doors. Deposits aggregate $180,000. : FOLLOW RUN ON BANK

4. November 18, 1904 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, November 18, 1904

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Article Text

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5. November 18, 1904 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, November 18, 1904

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Article Text

DEPOSITORS MAKE MISTAKE AND CLOSE DOORS OF BANK Wrong Interpretation of Assessment Order Brings Ruin to Financial Institution in Wisconsin. BERLIN, Wis., Nov. 17.-The Berlin National Bank closed its doors at noon to-day and posted a notice saying: "Owing to the withdrawal of deposits, the business of this bank has been placed in the hands of the Comptroller of the Currency." A meeting of stockholders had been called for December 5th to arrange for paying a sixty per cent assessment in order to strengthen the bank and to remove any doubtful paper which might be found. Notices had been issued to the public stating the bank's determination to strengthen itself. These notices were misconstrued by the depositors; a run on the bank resulted and became so serious that the directors determined to close the doors. The deposits aggregate $160,000.

6. November 18, 1904 The Savannah Morning News Savannah, GA
Article from The Savannah Morning News, November 18, 1904

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Article Text

Bank's Doors Closed. Washington, Nov. 17.-The Controller of the Currency has received a dispatch from the cashier of the Berlin National Bank of Berlin, Wis., announcing that because of a run on the bank to-day its doors were closed. Bank Examiner Parker immediately was appointed receiver.

7. November 18, 1904 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, November 18, 1904

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Article Text

WISCONSIN BANK CLOSED. Washington, Nov. 17.-The comptroller of the currency this evening recelved a dispatch from the cashier of the Berlin bank of Berlin, Wis., announcing that because of a run of the bank today its doors were closed. Bank Examiner Parker immediately was appointed receiver.

8. November 18, 1904 The Minneapolis Journal Minneapolis, MN
Article from The Minneapolis Journal, November 18, 1904

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Article Text

TWO BANKS CLOSE DOORS POPULAR MISCONCEPTION OF CONDITIONS CAUSES A RUN ON NATIONAL BANK AT BERLIN, WIS. Berlin, Wis., Nov. 18.-The Berlin National bank closed its doors yesterday and posted a notice saying: "Owing to the withdrawal of deposits the business of this bank has been placed in the hands of the controller of the currency." A meeting of the stockholders had been called for Dec. 5 to arrange for paying a 60 per cent assessment in order to strengthen the banks and to remove any doubtful paper which might befound. Notices had been issued to the public stating the bank's determination to strengthen itself. These notices were misconstrued by the depositors. A run on the bank resulted and became so serious that the directors determined to close the doors. The deposits aggregate $180,000. Bank Examiner Parker has been appointed receiver. I Carson, Iowa, Nov. 18.-The Bank of Carson, capital $50,000, closed its doors yesterday and its affairs will be liquidated. The bank has been in business twenty-three years. A new bank has been organized which will take over the deposits.

9. November 19, 1904 East Oregonian : E.O Pendleton, OR
Article from East Oregonian : E.O, November 19, 1904

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Article Text

The Berlin, Wis., National Bank, has succumbed to a run and closed its doors. and a receiver is in charge.

10. November 19, 1904 Ottumwa Tri-Weekly Courier Ottumwa, IA
Article from Ottumwa Tri-Weekly Courier, November 19, 1904

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Article Text

BANK CLOSES DOORS. Berlin, Wis., Institution's Officers Say Run Causes Suspension. Berlin, Wis., Nov. 18.-The, Berlin National bank closed its doors yesterday and posted a notice to the effect the suspension was due to the withdrawal of deposits. A meeting of the stockholders has been called for December 5, to arrange for paying sixty per cent of the assessments in order to strengthen the bank and remove any doubtful paper which might be found.

11. November 24, 1904 River Falls Journal River Falls, WI
Article from River Falls Journal, November 24, 1904

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WEST AND SOUTH. In commemoration of the seventieth anniversary of the birth of Empress Dowager An, "China day" was celebrated at the world's fair in St. Louis. In a rear-end passenger train collision at Elmdale, Mich., on the PereMarquette railroad three persons were killed and nine injured. Chicago banks' deposits have reached $593,000,000, the largest in their history, and an increase of over $20,000,000 since the last report. Arrested for wife-beating, and failing to make peace with his spouse, Charles Shyck attempted to kill her, her sister and his baby in a Chicago police station, and then killed himself. The Berlin national bank, of Berlin, Wis., has closed its doors because of a run. Dan Patch lowered the world's record at Oklahoma City, Okla., for pacing a mile on a half-mile track, the official time being 2:03 flat. The death is announced of William Perkins, better known as "Moccasin Bill," on a ranch near Montrose, Col., aged 80 years. He went to Colorado in 1860 as a government scout to watch the movements of the Indians. He was a famous bear hunter. On the Urbana Chautauqua camp grounds, 12 miles north of Springfield, O., 300 cottages were destroyed by fire. Loss, over $100,000. Flames in the Arcade department store and the Decatur hotel, at Decatur, Ill., caused a total loss of $125,000. Fire totally destroyed the Meridian Street Methodist church at Indianapolis. The loss is $75,000. Vice President-Elect Fairbanks and Senator Albert J. Beveridge were trustees of the church. The delegates to the American Federation of Labor convention in San Francisco, by unanimous vote, decided to aid the striking textile workers of Fall River to the extent of $25,000 per week for three weeks. A loss of $20,000 was incurred by the burning of the Loretto academy at Cairo, Ill. It is proposed to hold in Chattanooga, Tenn., in 1915, a world's fair to be known as the Semi-Centennial Peace Jubilee exposition, commemorating the end of the war between the states. A company, with a capital stock of $25,000,000, has been incorporated for the purpose of building a model oriental city on the bay shore at South San Francisco, Cal., and moving the Chinese quarters to that place. Plans are being laid for a $50,000,000 car lire subway for Chicago.

12. November 24, 1904 The Sauk Centre Herald Sauk Centre, MN
Article from The Sauk Centre Herald, November 24, 1904

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THE NEWS IN BRIEF. For the Week Ending Nov. 19. The Loretto academy at Cairo, III., burned. Loss, $20,000. A run on the Berlin national bank at Berlin, Wis., caused the institution to close its doors. Fire in the Arcade deportment store and the Decatur hotel at Decatur, Ill., caused a total loss of $125,000. James Cooney, ex-congressman of the Seventh Missouri district, died at his home in Marshall. Mo., of pneumonia. Turkey has ordered 100 new batteries of artillery from German, French and English factories at a cost of $10,000,000. The malt house of the Frank Jones Brewing company's immense plant at Portsmouth, N. H., was ruined by fire, entailing a loss of $150,000. State Representative Henry Buxbaum was held for the grand jury by the municipal court in Boston on a charge of embezzling $2,000. A dispatch from Constantinople says that negotiations have been resumed for raising the American legation to the rank of an embassy. A note just issued thanks those in America, Great Britain and India whose good wishes have helped Lady Curzon much during her terrible illness. Prince Fushimi, of Japan, visited Mount Vernon. placed a wreath on the tomb of Washington and planted a tree on the old estate of the first president. A Santa Fe passenger train jumped the track in the yards at Ardmore, Tex. Engineer H. E. Bemis, of Clerburne, was caught under the engine and scalded to death. Burglars wrecked the safe in William H. Hillard's store at North Stonington, Conn., and obtained booty valued at nearly $6,000. principally in bonds and stocks. The Hotel Olympia, at Olympia. Wash., one of the largest frame hotel buildings in the state, has been burned to the ground. The loss will aggregate $160,000. The entire business district of the town of Dublin, Miss.. with the exception of one building. was wiped out by fire Wednesday. The loss is estimated at $50,000. Three hundred cottages on the Urbana Chatauqua camp grounds, 12 miles north of Springfield, O., were destroyed by fire. Loss, over $100,000, and no insurance. The big freight steamer Mohawk, of the Central Vermont railroad's fleet, burned to the water's edge off Horton's Point in Long Island sound. One life was lost. W. C. Rugh was arrested at Muskogee, I. T., charged with embezzlement of $3,000 four years ago from a publishing firm for which he was manager at St. Louis. The monument erected by the state of Maine in memory of its soldiers who died during the civil war in prison at Andersonville, Ga., was unveiled with appropriate ceremonies. Taylor Delk, a white convict sent up for life as a result of one of the most famous murder trials in the state, is dead at the state prison farm at Milledgeville, Ga. John G. Hecksher, father-in-law of Mayor McClellan, of New York, was knocked down and trampled upon by a team of horses during the New York norse show. He was badly hurt. Secretary Shaw has announced a call upon national banks holding government deposits to the amount of 25 per cent. of their holdings. This, the secretary estimates, will bring into the treasury about $25,000,000. With a capital stock of $25,000,000 a company has been incorporated for the purpose of building a model oriental city on the bay shore at South San Francisco, Cal., and moving the Chinese quarters to that place. John A. Fagg, former clerk in the registry division of the post office at Kansas City, Mo., found guilty of stealing a package containing $8,000, was sentenced to four years at hard labor in the state penitentiary. An automobile plunged over a high bank at Los Angeles Cal and Hum-

13. November 24, 1904 Iron County Register Ironton, MO
Article from Iron County Register, November 24, 1904

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Article Text

The comptroller of the currency at Washington received a dispatch from the cashier of the Berlin national bank of Berlin, Wis., on the 17th, announcing that because of a run on the bank its doors were closed. Bank Examiner Parker immediately was appointed receiver.

14. November 25, 1904 Eagle River Review Eagle River, WI
Article from Eagle River Review, November 25, 1904

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Run Closes Berlin Bank. The Berlin National Bank closed its doors the other day as the result of a run by denosit ker was appointed receiver by the Comptroller of the Treasury. The depositors misconstrued a call for a meeting of stockholders to arrange for paying a 60 per cent assassment in order to straighten the institution. The deposits aggregate $180,000.

15. December 1, 1904 River Falls Journal River Falls, WI
Article from River Falls Journal, December 1, 1904

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WISCONSIN STATE NEWS. Berlin Bank Suspends. The Berlin national bank has closed its doors. A meeting of stockholders had been called for Docember 5 to arrange for paying a 60 per cent. assessment in order to strengthen the bank and to remove any doubtful paper which might be found. Notices had been issued to the public stating the bank's determination to strengthen itself. These notices were misconstrued by the depositors. A run on the bank resulted, and became so serious that the directors determined to close the doors. The deposits aggregate $180,000.