Articles (July 1912) state the German Bank of Sheboygan had been suspended and has reorganized and reopened after stockholders paid a full 200% assessment ($500,000) and received a certificate from the state Commissioner of Banking. No explicit run or depositor panic is mentioned; the suspension appears to have been due to losses covered by the assessment (bank-specific adverse information).
Events (2)
1.July 5, 1912Reopening
Newspaper Excerpt
The German bank, which has reopened for business. The full 200 per cent assessment was paid. Commissioner of Banking Albert E. Kuolt gave the bank a certificate to resume business, stating the institution is entirely solvent.
Source
newspapers
2.*Suspension
Cause
Bank Specific Adverse Info
Cause Details
Institution had suffered losses requiring a full 200% assessment to cover deficits; led to suspension and reorganization.
Newspaper Excerpt
Suspended Sheboygan Institution
Source
newspapers
Newspaper Articles (2)
1.July 5, 1912Ladysmith News-BudgetLadysmith, WI
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Article Text
GERMAN BANK REORGANIZES Suspended Sheboygan Institution Resumes Business Under the Management of New Officers. I Sheboygan.-The stockholders and directors' meetings have resulted in a complete reorganization of the German bank, which has reopened for business. The full 200 per cent assessment was paid. Thus $500,000 ready cash has been turned in to cover the losses and start with a working capital. Commissioner of Banking Albert E. Kuolt gave the bank a certificate to resume business, stating the institution is entirely solvent.
2.July 11, 1912Wood County ReporterWisconsin Rapids, WI
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Article Text
GERMAN BANK REORGANIZES Suspended Sheboygan Institution Resumes Business Under the Management of New Officers. I Sheboygan.-The stockholders and directors' meetings have resulted in a complete reorganization of the German bank, which has reopened for business. The full 200 per cent assessment was paid. Thus $500,000 ready cash has been turned in to cover the losses and start with a working capital. Commissioner of Banking Albert E. Kuolt gave the bank a certificate to resume business, stating the in. stitution is entirely solvent.
