19622. Hudson City Bank (Hudson, WI)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
state
Start Date
December 4, 1861
Location
Hudson, Wisconsin (44.975, -92.757)

Metadata

Model
gpt-5-mini
Short Digest
2e59445f83bf93a7

Response Measures

None

Description

No run is described in the articles. The December 1861 notice reports the bank's failure and assignment of officers' assets to a trustee/assignee (H. L. Humphrey) to pay depositors โ€” i.e., closure/receivership. Earlier June 1861 list merely shows the bank as a credited/state bank. Dates are taken from the cited Hudson Times item (Dec 4, 1861) reprinted Dec 13, 1861.

Events (2)

1. December 4, 1861 Receivership
Newspaper Excerpt
J. O. Henning, President, and J. S. Gibson, Cashier, have assigned to H. L. Humphrey everything they have which can be converted to the payment of depositors. Bill holders are secured ... at 97 cents on the dollar.--Hudson Times, December 4.
Source
newspapers
2. December 4, 1861 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Cumulative bank-specific losses since 1856 (robbery of 1858, depreciation of Southern stocks, loss on Illinois currency) left the bank insolvent and forced failure/assignment.
Newspaper Excerpt
Failure of the Hudson City Bank. ... has finally been compelled to go down.
Source
newspapers

Newspaper Articles (2)

Article from Prescott Journal, June 26, 1861

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Article Text

COMMERCIAL MATTERS. THE BANKS. WISCONSIN. The Banks are badly mixed" at present. On Saturday last the following suspended banks embraced in the list which the Banker's Convention agreed to receive till the first of Dee., were thrown out in Milwavkee, and of course other State Banks will follow their example. E. R. Hin.ehley & Co's Bank of Portage. Bank. Bank of Columbus, La Crosse Co. Bank. Bank of Green Bay. City Bank of Kenosha. Northern Bank. Waupun Bank. Wisconsn Pinery Bank. Dodge County Bank. The ant on of the banks was the occasion of a riot, which is reported under the news head. The question arises, what is to become of the balance of the banks. and some predict a general crash. What the people want to know, and what no one can tell. is whether the banks are going to stand up under the pressure. The Milwaukee Banks have taken $500,000 of the war loan. and these bonds will probably be deposited as securities, and relieved from the load of these ten insolvent ones, the remaining banks may be ai le to stand. The Comptroller has called for 8 per cent. additional securities, and when his next report is made, we shall know who are "lame ducks" if there be any. In the meantime let us keep cool and breathe easy till we know something decisive. We give the list of the credited banks as usual. Bank of Madison. Iowa County Bank. Bank of Milwaukee. Juneau Bank, Bank of Ripon. Rock County Bank. Bank of Oshkosh Sauk County Bank. Bank of Racinc. Second Ward Bank. Central Bank of Wis State B'k. of Wis. State Bank. Dane County Bank. Farmers & Millers B'kWis Marine & Fire In. Bank of Jefferson. Co Bank. Bank of Weyauwega. Oakwood Bank. Racine Co. Bank. Green Bay Bank. Corn Exchange Bank. Sauk City Bank, City Bank of Prescott. Shawanaw Bank. Bank of Fox Lake. Bank of P du Chien. Columbia Co, Bank. Hudson City Bank. Commercial Bank. Kenosha County Bank. German Bank. Wisconsin Bank. Bank of the Interior Frontier Bank. Bank of Monroe. Jefferson Co. Bank, Lumberman's Bank. Bank of Moneka. Bank of the N West. Oshkosh Com. Bank. Bank of Beloit. Prairie City Bank. Bank of Grant County. Rock River Bank. Rockwell & Co.'s B'k. Bank of Sheboygan. Bank of Sparta, St. Croix Valley Bank. Bank of Watertown. Summit Bank. Bank of Whitewater, Sun Prairie Bank. Corn Planters' Bank. Walworth Co. Bank. Bank of Wisconsin, Waukesha County B'k. Ex B'k Darling & Co.Farmers & Mechanics' Elkhorn Bank. Bank. Forest City Bank.


Article from The Weekly Pioneer and Democrat, December 13, 1861

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Article Text

Failure of the Hudson City Bank. We regret to announce the failure of this old and respected institution, which for the past six years has been a credit to Hudson, as well as a great benefit to our citizens, during that time. But since 1856, circumstances have been continually against the Bank-losses one upon another in quick succession until it has finally been compelled to go down. It withstood the great crash of 1857-the robbery of 1858-the depreciation of its Southern Stocks, and the great loss on Illinois currency, at the greatest sacrifice to its officers-only to meet a more untimely end. J. S. Gibson, Cashier, who has had charge the past two years, has done all that any man could do, to sustain the credit of the institution, until better times should relieve him--and up to Monday morning, we can safely say that no banking house in the State stood better than the Hudson City Bank. We are assured that depositors are all secured, as the liabilities are only about $12,000. Mr. J. O. Henning, President, and J. S. Gibson, Cashier, have assigned to H. L. Humphrey everything they have which can be converted to the payment of depositors. Bill holdera are secured according to the comptroller's report, at 97 cents on the dollar.--Hudson Times, December 4.