22506. Baraboo Savings Bank (Baraboo, WI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
March 4, 1896
Location
Baraboo, Wisconsin (43.471, -89.744)

Metadata

Model
gpt-5-mini
Short Digest
7700a276

Response Measures

None

Description

Contemporary reports state the Baraboo Savings Bank has gone into voluntary liquidation (March 4, 1896) and depositors were asked to withdraw by April 1. No run is reported; the cause is voluntary liquidation. The bank is also later listed among banks gone into voluntary liquidation in the examiner's December 1896 report.

Events (1)
1. March 4, 1896 Suspension
Cause
Voluntary Liquidation
Cause Details
Principal stockholder decided to wind up affairs; bank went into voluntary liquidation and instructed depositors to draw funds before April 1.
Newspaper Excerpt
Voluntary Liquidation. Baraboo, Wis., March 4.-The Baraboo Savings bank ... has gone into voluntary liquidation, and has notified all its depositors to draw their money before April 1.
Source
newspapers

Newspaper Articles (4)
1. March 7, 1896 The Washburn Leader Washburn, ND
Article from The Washburn Leader, March 7, 1896

Click image to open full size in new tab

Article Text

Voluntary Liquidation. Baraboo, Wis.. March 4.-The Baraboo Savings bank, which was first organized here by F. T. Brewster in 1889, has gone into voluntary liquidation, and has notified all its depositors to draw their money before April 1. The bank closed its doors during the panic of 1893. A few weeks later it was again opened under a new management. but the bank has not done a profitable business, and it was decided by the principal stockholder. J. M. Jenks of Minneapolis, to wind up its affairs.

2. December 30, 1896 Watertown Republican Watertown, WI
Article from Watertown Republican, December 30, 1896

Click image to open full size in new tab

Article Text

EXAMINER KIDD'S REPORT. Some Radical Changes in the State Banking Laws Are Advocated. Madison, Wis., Dec. 26.-The semiannual report of State Bank Examiner E. I. Kidd is complete. It shows the financial condition of all state and private banks on November 21, 1896. The total number of banks in operation on the date named was 240. Of this number 130 were state banks, 109 private banks and one savings bank. The aggregate authorized capital stock of the state banks reporting was $6,961.550 and the reported capitalization of private banks was $1,115,203.41. The total was $41,532,711.22 of which $9.256,742.43 represented money of all kinds, and $32,275,968.79 represented loans and discounts, real estate and all other assets. Of their liabilities $8.076,753.41 represented capital stock, $2,927,243.81; surplus and undivided profits, $29,311,402.73 deposits and $1,187,311.27 rediscounts and bills payable. As compared with the semi-annual report made June 8 of the present year, there is shown a total increase of four state and two private banks, an increase in capital stock and surplus representing $229,183.03, a decrease in loans and discounts of $2,712,952.74. and a decrease in deposits of $2,525,509.88. There is also shown an aggregate decrease of resources and liabilities of $2,462,129.71 and a total cash reserve of $9,256,742.43. showing the cash réserve to be 31.58 per cent. of deposits. The new banks organized. with name, location and capitalization are as follows: State Banks-The State bank, Fennimore, $35,000; the State bank, Elkhorn, $25,000; State Bank of Horicon, Horicon, $25,000: Citizens' State bank, Sheboygan, $50,000. Private Banks-Barneveld bank, Barneveld. $10,000; Bank of Cadot, Cadot, $7500: Island City bank, Cumberland, $15,000; Bank of Manawa, Manawa, $10,000. The following banks have gone into voluntary liquidation: International bank. West Superior: German American bank, Port Washington; Baraboo Savings bank, Baraboo: Bank of Mosinee, Mosinee; Exchange bank. Waupaca; Sauk City bank. Sauk City; John H. Jacques. Port Washington; W. H. Knapp & Co., Albany; P. Daane & Son, Oostburg. The total number of banks which have suspended during the past year is four, of which two were state, and two private banks, as follows: State Banks-Jackson County bonk. Black River Falls; Shullsburg bank, Shullsburg. PrivateBanks-German-American bank, Portage; John Lienlokken, banker, La Crosse. Mr. Kidd makes a lengthy report regarding the banking laws. etc., which, he says, are very loose in Wisconsin. He suggests many radical changes in regard to the management of banks and advocates the encouragement of state banks in small towns instead of private depositories. Under the present laws, he says, the state examiner has little power and in case of failures he can only investigate the same and report to the governor. He says the laws should be more stringent in permitting officers of banks to borrow money from the institutions.

3. December 31, 1896 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, December 31, 1896

Click image to open full size in new tab

Article Text

undivided pronts, $29,311,402.73 posits, and $1,187,311.27 redise and bills payable. "As compared with the semi-ar report made June 8 of the pr year," says the examiner, "there total increase of four state and private banks; an increase in a stock and surplus representing 183.03; a decrease in loans and counts $2,712,952.74 and a decrea deposits $2,525,509.88. There is shown an aggregate decrease o sources and liabilities of $2,462.12 and a total cash reserve of $9,256 48, showing the cash reserve to I 58-100 per cent. of deposits. Th crease in deposits and loans is t attributed to the prevailing bus depression, and the agitation of currency question previous to the vember election. It is worthy of that since that time deposits been gradually increasing and that at the date upon which th ports were made the banks were rying a stronger cash reserve th any previous date upon which re have been called for. "The new banks organized are banks: State bank, Fennimore, ital, $35,000; State bank, Elkhorn, 000; State bank of Horicon, Hot $25,000; Citizens' State bank, Sh gan, $50,000. Private banks-B veld bank, Barneveld, $10,000; of Cadots, Cadott, $7,500: Island bank, Cumberland, $15,000; Ban Manawa, Manawa, $10,000. The lowing banks have gone into V tary liquidation: International I West Superior: German Ame bank. Port Washington: Baraboo ings bank, Baraboo; Bank of Mos Mosinee: Exchange bank, Wau Sauk City bank, Sauk City: John Jacques, Port Washington, W. Knapp & Co., Albany: P. Dea Son, Oostburg. "The total number of banks V have suspended during the past y four, of which two were state, two private banks, named B/S fol -State banks: Jackson County | Black River Farls; Shullsburg 1 Shullsburty Private banks-Ge American bank, Portage; John lokken, banker, La Crosse. Th gregate capital stock of the se institutions at the time of failure resented $8,200.00; aggregate not assets, $294,596.52; and aggregate bilities, $301,381.40. "A difference of opinion hi arisen as to whether the "rust panies of the state were by the 1: 1895 placed under the supervisio this office, I have thought prope postpone any further action relat the supervision of these institu until such time as the legislature by specific enactment provide for supervision. "In accordance with the provisio law, regular examinations of the and private banks have been made ports have been received as called and the same have been publishe local papers. "The annual fee for exam n which the law provides shall be by banks is based upon the an of capital and surplus carried. is manifestly unjust for the 11 that the assets, volume of busines notits of mony banks of given

4. December 31, 1896 Eagle River Review Eagle River, WI
Article from Eagle River Review, December 31, 1896

Click image to open full size in new tab

Article Text

EXAMINER KIDD'S REPORT. Some Radical Changes in the State Banking Laws Are Advocated. Madison, Wis., Dec. 26.-The semiannual report of State Bank Examiner E. I. Kidd is complete. It shows the financial condition of all state and private banks on November 21, 1896. The total number of banks in operation on the date named was 240. Of this number 130 were state banks, 109 private banks and one savings bank. The aggregate authorized capital stock of the state banks reporting was $6,961.550 and the reported capitalization of private banks was $1,115,203.41. The total was $41,532,711.22 of which $9.256,742.43 represented money of all kinds, and $32,275,968.79 represented loans and discounts, real estate and all other assets. Of their liabilities $8.076,753.41 represented capital stock. $2,927.243.81: surplus and undivided profits. $29,311,402.73 deposits and $1,187,311.27 rediscounts and bills payable. As compared with the semi-annual report made June 8 of the present year, there is shown a total increase of four state and two private banks, an increase in capital stock and surplus representing $229,183.03, a decrease in loans and discounts of $2,712,952.74. and a decrease in deposits of $2,525,509.88. There is also shown an aggregate decrease of resources and liabilities of $2,462,129.71 and a total cash reserve of $9,256,742.43, showing the cash reserve to be 31.58 per cent. of deposits. The new banks organized, with name, location and capitalization are as follows: State Banks-The State bank, Fennimore. $35,000; the State bank, Elkhorn. $25,000: State Bank of Horicon, Horicon, $25,000: Citizens' State bank, Sheboygan. $50,000. Private Banks-Barneveld bank, Barneveld. $10,000; Bank of Cadot, Cadot, $7500: Island City bank, Cumberland, $15,000; Bank of Manawa, Manawa, $10,000. The following banks have gone into voluntary liquidation: International bank, West Superior: German American bank, Port Washington: Baraboo Savings bank, Baraboo: Bank of Mosinee, Mosinee; Exchange bank, Waupaca; Sauk City bank. Sauk City; John H. Jacques. Port Washington: W. H. Knapp & Co., Albany; P. Daane & Son. Oostburg. The total number of banks which have suspended during the past year is four, of which two were state, and two private banks. as follows: State Banks-Jackson County bonk. Black River Falls; Shullsburg bank, Shullsburg. Private Banks-German-American bank. Portage; John Lienlokken, banker, La Crosse. Mr. Kidd makes a lengthy report regarding the banking laws. etc., which, he says, are very loose in Wisconsin. He suggests many radical changes in regard to the management of banks and advocates the encouragement of state banks in small towns instead of private depositories. Under the present laws, he says, the state examiner has little power and in case of failures he can only investigate the same and report to the governor. He says the laws should be more stringent in permitting officers of banks to borrow