19892. North Western National Bank (Superior, WI)

View Charter #4878 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
4878
Charter Number
4878
Start Date
February 13, 1897
Location
Superior, Wisconsin (46.721, -92.104)

Metadata

Model
gpt-5-mini
Short Digest
4c6cfa302e4a4d1d

Response Measures

None

Description

Newspaper articles (Feb 13–15, 1897) report that management of the 'Northwestern National Bank' of West Superior was removed and the bank was placed in other hands and immediately applied for a receiver. I use the provided bank name (North Western National Bank); the articles spell it 'Northwestern National Bank' (minor variant). The articles primarily describe the suspension/receivership action rather than a depositor run on this national bank (a run is described on the separate State Trust and Savings Bank).

Events (4)
1. May 2, 1893 Chartered
Source
historical_nic
2. February 13, 1897 Receivership
Newspaper Excerpt
was placed in other hands and which immediately applied for a receiver; W. H. Slack (Black) named as receiver in reports concerning related State Trust and Savings Bank case (Feb 13–15, 1897).
Source
newspapers
3. February 13, 1897 Suspension
Cause
Government Action
Cause Details
Management removed and bank placed in other hands; bank immediately applied for a receiver (Feb 13, 1897).
Newspaper Excerpt
The State Trust and Savings Bank ... have just been removed from the management of the big Northwestern National Bank, which is placed in other hands and which immediately applied for a receiver.
Source
newspapers
4. October 7, 1902 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)
1. February 15, 1897 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, February 15, 1897

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Article Text

The State Trust and Savings Bank. capital $25,000, of West Superior, Wis., suspended. Saturday, going into the hands of W. H. Slack as receiver, on application of the Northwestern National Bank, a creditor to the extenţ of $24,000. The State Trust and Savings Bank was owned by Homer T. and Walter Fowler, who have just been removed from the management of the big Northwestern National Bank, which is placed in other hands and which immediately applied for a receiver. The liabilities are placed at $40,000 and assets $25,000, but the bank's books show $78,000 liabilities and some assets in which the Northwestern National is the only secured creditor. The bank had sustained a run for weeks and had only $200 left.

2. February 15, 1897 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, February 15, 1897

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Article Text

In a Receiver's Hands. West Superior, Wis., February 13.-The State Trust and Saving bank, capital $25,000, suspended this morning, going into the hands of W. H. Black as receiver, on application of the Northwestern National bank, a creditor to the extent of $24,000. The State Trust and Savings bank was owned by Homer T. and Walter Fowler, who have just been removed from the management of the big Northwestern National bank, which is placed in other hands and which immediately applied for a receiver. The liabilities are pledged at $40,000 and assets $25,000.