19653. La Crosse National Bank (La Crosse, WI)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
2344
Charter Number
2344
Start Date
January 3, 1877
Location
La Crosse, Wisconsin (43.801, -91.240)

Metadata

Model
gpt-5-mini
Short Digest
7b7f46628bfd89f0

Response Measures

None

Description

Article (1877) reports the bank opening Jan 3, 1877. By 1880 a receiver (S. S. Burton) is plaintiff in litigation concerning the La Crosse National Bank, indicating the bank had failed and a receiver was appointed. No articles describe a depositor run; failure appears tied to misapplication/fraud by officers and consequent insolvency/receivership. Classified as suspension_closure (suspension/closure with receivership).

Events (5)

1. December 1, 1876 Chartered
Source
historical_nic
2. January 3, 1877 Other
Newspaper Excerpt
THE LaCrosse National Bank began busi. ness on the 3d with a paid-up capital of $100,000.
Source
newspapers
3. January 28, 1880 Receivership
Newspaper Excerpt
case of S. S. Burton, Receiver of the La Crosse National Bank, VS. A. H. Burley, Receiver of the City National Bank
Source
newspapers
4. January 28, 1880 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Fraud/misapplication by officers (president Suter's notes cashed for his benefit), accounting irregularities leading to insolvency and appointment of a receiver.
Newspaper Excerpt
THE WAR OF THE BANKS. Judge Drummond yesterday disposed of the case of S. S. Burton, Receiver of the La Crosse National Bank, VS. A. H. Burley, Receiver of the City National Bank...
Source
newspapers
5. July 1, 1896 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)

Article from Mineral Point Tribune, January 17, 1877

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Article Text

WISCONSIN STATE NEWS. THE other evening, Anaie Leke, of Kenosha, slipped on an icy sidewalk and broke her leg. THE LaCrosse National Bank began busi. ness on the 3d with a paid-up capital of $100,000. AT Chaintron's dye-house, in Milwaukee on the 3d, a can of benzine exploded, throw. ing the burning liquid over Mr. and Mrs. Chaintron, burning them so badly that Mrs. Chaintron died in an hour, and the other victim cannot recover. The room where the explosion occurred is the cleaning room, and a number of people were employed there cleaning clothes with benzine, is can of which was placed on the floor within about six feet of the stove, where the heat caused the explosion. The victims were burned nearly to a crisp, and presented a horrible appearance. A FRISKY dog was the cause of a conflagration at the residence of John McDonough, of Green Bay, the other evening. In the effort of some of the members of the family to put the dog out of doors a kerosene lamp on the table tipped over, and the house was set on fire. ALBERT ROESER committed suicide at Milwaukee, the other day, by shooting himself through the body with a revolver. He had lost his place as bar-tender at the Republican House, and despaired of finding another. SOME of the oldest conductors on the C. & N. W. Railroad, running north of Green Bay, had their official heads taken off on New Year's day. THE Waupun prison contained 300 convicts on the 1st of January. THE annual meeting of the State Historical Society was held at Madison on the 3d. Hon. Alexander Mitchell, of Milwaukee, was elected President, with a large number of Vice and honorary Vice-Presidents; Corresponding Sec retary, Lyman C. Draper; Librarian, D. S. Durrie. The Society is in a very prosperous condition. WISSINGER, the man who assassinated Dr. Chamberlain, at LaCrosse, the other day, is likely to recover, after all. The gates of the Waupun Prison are yawning to receive him. THE telegraph wires have been extended to Clayton, on the North Wisconsin Rail. way. NOT a prisoner has been confined in Green Lake County Jail for over two months. IT is said that the Green Bay and West Wisconsin Railroads will unite in rebuilding the Blair House at Merrillan, which was recently destroyed by fire. THE matter of the awards for the overflow caused by the dams and locks at the lower end of Lake Winnebago has come almost to a dead-lock. The Commissioners appointed to examine cases in that vicinity are doing nothing. THE total number of deaths in Milwaukee for the month of December-was 208, of which number 114 were males and 94 females. THE residence and barn of Alexander Bakotz, at Oshkosh, was burned on the morning of the 8th. Loss about $5,000. Insured for $2,850. THE contract for building the works of the Dells improvement has been let to J. H. MeIntyre & Co., of New York city. H. A. PHINNEY, an Appleton clothing merchant failed, the other day. Liabilities and assets not stated. THE latest reports from Milwaukee give the following as the current prices for leading staples: Flour-Choice Winter Extra, $6.00@6.75; Choice Spring, $5.50@5.75; Wheat-No. 1, $1.321/@1.33; No. 2, $1.27% @1.28; Corn-No. 2, 44@44}/c; Oats-No. 2,33@83}/c; Barley-No. 2, 80@81c; Rye-73 @74c; Pork, $16.25@16.75.


Article from Chicago Daily Tribune, January 28, 1880

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Article Text

THE WAR OF THE BANKS. Judge Drummond yesterday disposed of the case of S. S. Burton, Receiver of the La Crosse National Bank, VS. A. II. Burley, Receiver of the City National Bank, which was heard before him Monday and yesterday. It seems that the City National during 1874 and 1875 had been eashing the notes of Suter, the President of the La Crosse bank, at his request, to the amount of some $18,000, and had also charged the same to the account of the bank. Monthly statements were also forwarded by the City National and admitted to be correct by the La Crosse bank. These accounts, however, were never, as a matter of fact, entered on the La Crosse bank books, but were simply marked on the accounts forwarded by the City National. The Judge held that. as there was no evidence showing the City National knew of the fraud practieed by the officers of the LaCrosse bank, that the latter was bound by the acceptance of the accounts, and the stockholders or creditors of the latter must suffer rather than those of the City National. A finding was therefore had in favor of the defendant, and the plaintif was also directed to pay over $1,158, being a balance remaining in his hands belonging to the defendant.