Bank of Watertown - Watertown, WI

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: January 1, 1893*
Location: Watertown, Wisconsin (43.195, -88.729)

Metadata

Model: gpt-5-mini
Short Digest: 0e6fb1ebf07d4533

Response Measures

None

Description

Article (1911) recounts that during the panic of 1893 there was a threatened run on the Bank of Watertown that was averted when the bank president and other officials pledged private funds. No suspension or closure is described. Bank type inferred as state (no 'National'/'Trust' in name). Date for the run is set to 1893 (year given in text).

Events (1)

1. January 1, 1893* Run

Cause: Macro News
Cause Details: Panic of 1893: nationwide bank failures and runs threatened local banks; depositors were alarmed during the national panic.
Measures: Bank president and other officials pledged private fortune as guarantee to depositors to avert the run.
Newspaper Excerpt: with other bank officials of the city pledged his private fortune as a guarantee to depositors and a run was averted.
Source: newspapers

Newspaper Articles (1)

1. May 26, 1911 Watertown Leader Watertown, WI

Article from Watertown Leader, May 26, 1911

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Article Text

the west. He had the distinction of being the first one to import barley for seed and succeeding in inducing the farmers tributary to Watertown to engage in the raising of this then almost unknown crop. He maintained for many years elevators in many sections of the northwest, all tributary to the main business in Watertown and employed a large force of men to meet the requirements of such an extensive trade. In the meantime he became connected with other interests and in 1883 was elected president of the Bank of Watertown, which position he held until his death. As a banker he had by conservative policies and carefulness in management made a record of ever increasing success while at the same time he was ever ready to aid every public interest to the extent of his ability, and his public spirit has been well attested to on many occasions. He was one of Watertown's foremost citizens and was identified with the progressiveness of the city at every stage of its advancement. Helped the Banks. A trait of his character was well exemplified during the panic of 1893 when bank failures followed each other in rapid succession all over the United States and even the country banks were in danger of a "run." At that time he was president of the Bank of Watertown and with other bank officials of the city pledged his private fortune as a guarantee to depositors and a "run" was averted. He possessed almost unlimited credit wherever known and although a heavy buyer of grain and other farm products, his integrity was never doubted, the name being considered as good as the gold. It was this confidence in him by the people which attracted prospective sellers from all parts of the country, full well knowing that they would be given a square deal and their money was safe. In speaking of Mr. Buchheit's death a director of the Bank of Watertown said of his association: "In the death of Mr. Buchheit our directors keenly realize the personal loss of a true and loyal friend with whom their long and intimate business associations have been most cordial and