22523. Peoples State Bank (Bloomer, WI)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
July 15, 1931
Location
Bloomer, Wisconsin (45.100, -91.489)

Metadata

Model
gpt-5-mini
Short Digest
093602de

Response Measures

Full suspension

Other: Bank closed after run; articles state banking commission judged bank sound but heavy withdrawals forced closing.

Description

Multiple articles (published 1931-07-16) report an unexpected run that forced closing of the People's/Peoples State Bank at Bloomer. The banking commissioner announced the closing; no reopening is mentioned. Cause of the run is not specified beyond unexpected heavy demands for cash, so I classify the proximate cause as 'other'.

Events (3)
1. July 15, 1931 Run
Cause Details
Unexpected heavy demands for cash; no specific rumor, correspondent failure, or bank-specific insolvency described.
Measures
Bank closed by action of the banking commissioner after heavy withdrawals.
Newspaper Excerpt
An unexpected run forced closing of the People's State bank, Bloomer.
Source
newspapers
2. July 15, 1931 Suspension
Cause Details
Closure/suspension ordered after heavy demands for cash stemming from the run; commission said bank had been in sound financial condition.
Newspaper Excerpt
An unexpected run forced closing of the People's State bank, Bloomer, yesterday, the commissioner of banking announced.
Source
newspapers
3. * Other
Newspaper Excerpt
The banking commission said the bank had been in sound financial condition and only heavy demands for cash made closing necessary. Deposits of more than $250,000 were in the bank. (reporting details about deposits and condition.)
Source
newspapers

Newspaper Articles (3)
1. July 16, 1931 The Waukesha County Freeman Waukesha, WI
Article from The Waukesha County Freeman, July 16, 1931

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Article Text

Runs Force Closing of Bank at Bloomer MADISON unexpected run forced closing of the People's State bank, Bloomer, yesterday, the combanking announced. Charles Albrecht president of institution. The banking commission said the bank been in sound financial condition and only heavy demands for cash made closing necessary. Deposits than $250000

2. July 16, 1931 The Oshkosh Northwestern Oshkosh, WI
Article from The Oshkosh Northwestern, July 16, 1931

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Article Text

RUN CLOSES BANK Madison --(U.P.)- An unexpected run forced closing of the People's State bank. Bloomer. yesterday. the commissioner of banking announced Charles Albrecht president of the institution The banking said the bank had been in sound financial condition and only heavy demands for cash made closing necessary Deposits of more than $250,000 were in the bank

3. July 16, 1931 Wisconsin State Journal Madison, WI
Article from Wisconsin State Journal, July 16, 1931

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Article Text

Unexpected Run Shuts Bank at Bloomer, Wis. An unexpected run forced closing of the People's State bank, Bloomer, Wednesday, the commissioner of banking announced today. Charles Albrecht is president of the institution The banking commission said the bank had been in sound financial condition and only heavy demands for cash made closing necessary Deposits of more than $250,000 were in the bank.