Article Text
Crandon-According to Herbert Pearson, receiver, the first dividend of the defunct First National bank of Crandon is now being paid to all creditors of the institution who had claims filed and affirmed prior + Oct. 31.
22539. First National Bank (Crandon, WI)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 9387
- Charter Number
- 9387
- Start Date
- December 2, 1925
- Location
- Crandon, Wisconsin (45.572, -88.903)
Metadata
- Model
- gpt-5-mini
- Short Digest
0e32edd6
Response Measures
None
Receivership Details
- Depositor recovery rate
- 41.3%
- Date receivership started
- 1925-05-29
- Date receivership terminated
- 1932-09-14
- OCC cause of failure
- Governance
- Share of assets assessed as good
- 46.8%
- Share of assets assessed as doubtful
- 44.8%
- Share of assets assessed as worthless
- 8.4%
Description
The bank suspended and became defunct and a receiver was appointed. Multiple articles refer to the bank as defunct and to a receiver (James B. Bereth or Herbert Pearson) paying dividends and suing stockholders. No article describes a depositor run prior to suspension. There is some inconsistency in dates: a Dec 2, 1925 article notes a receiver paying a dividend (implying receivership by late 1925), while several 1926 articles state the bank suspended business in April, 1926 (one article has the year as 1925). I adopt the suspension/closure outcome; precise suspension date is uncertain but contemporaneous reporting places closure in April (22) of 1925–1926. Lawsuits and receiver actions continued into 1926–1927.
Events (5)
1.
April 13, 1909
Chartered
- Source
- historical_nic
2.
May 29, 1925
Receivership
- Source
- historical_nic
3.
December 2, 1925
Receivership
- Newspaper Excerpt
- According to Herbert Pearson, receiver, the first dividend of the defunct First National bank of Crandon is now being paid to all creditors ... affirmed prior to Oct. 31.
- Source
- newspapers
4.
April 21, 1926
Other
- Newspaper Excerpt
- Suit brought against bank stockholders ... stockholders of the defunct First National Bank of Crandon, Wis., were sued ... The bank suspended business in April, 1926. ... The suit was brought by James B. Bereth, receiver for the bank.
- Source
- newspapers
5.
April 22, 1926
Suspension
- Cause Details
- Articles report the bank suspended business but do not specify an immediate trigger (no run or explicit cause described).
- Newspaper Excerpt
- The bank suspended business in April, 1926.
- Source
- newspapers
Newspaper Articles (11)
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plosion of a blank cartridge. The $10,000 organ installed in Mathew's Episcopal church nosha was dedicated with elabor e ceremony on Sunday, Nov. shop William Walter Webb, ) dedicatory sermon. William Dailey, 40, father of Idren, was accidentally killed idgeport Hollow, near Prairie ien, when the radius rod broke car went over a bank, crushing ver's chest. According to Herbert Pearson, ver, the first dividend of the ct First National bank of Crando now being paid to all creditors e institution who had claims d affirmed prior to Oct. 31. There are now 206 inmates in eboygan county asylum for onic insane, according to a de to the county board. Of thes are residents of Sheboygan county e per capita cost a week was $4.09 Hans Tendrup, Balsam lake, ted by a jury in Polk county t court of murder in the first degre the slaying of his sweetheart sie Jensen, was sentenced to prisonment at Waupun by Judg Foley. H Monroe's unit of the Women's e corps, with 335 members, is gest in the state, it was announce Monroe following inspection of up by Miss Mittle Brownless, oy, department president. School teachers of Wisconsin ier neighboring states are eced by a fraudulent insuranc ent who is writing a teachers' acci at policy, according to a statemen W. Stanley Smith, state Insuranc nmissioner. The National Life ance Co., whose blanks the said to be using, and the insuranc nmissioner are making every apprehend the operator. f a bank eroneously credits a ner with a balance that is too larg 1 the customer draws upon the ce, no criminal offense is committed , attorney general held in a nion. The opinion was sent by J. sserschmidt, assistant attorney 1, to G. H. Dawson, district attorne Forest county. The opinion it the customer was liable for ount involved, in a civil action. Joseph Ryan and William Mertor nesville, highway employes, are : themselves lucky. In driving th powered touring car on a Janes le street, Ryan failed to make n. The car hit the curb, sailed 11 feet in the air and crashed dow 30-foot bank. The front of the a tree and the machine reverse is, landing upside down. Ryan ed with a blackened eye ised knee, while Merton did ve a scratch. Many students at the college of ture, University of Wisconsin, : folks at home by working e while attending school. F. ffee, in charge of student employ nt at the college, says that 50 it of the freshmen, and over rd of the entire college, earn thei n expenses, either in part, or ffee finds, from a census, that nts can attend the college for ear with careful management. With but four of the original naining, Kenosha's post of and Army of the Republic is t a remnant. All are now over d with bent backs, wrinkled brows d burdened shoulders they ne to the Kenosha post of the Ame in Legion to ask the Legionnaire take over the sacred trust of uing to mark the old soldiers' the Kenosha cemeteries on al day. The request was made eodore Boyington, commander ed U. Lovell
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SUIT BROUGHT AGAINST BANK STOCKHOLDERS stockhold ers of the defunct First National Bank of Crandon, Wis., were sued in Feder al court here today for amounts which were assessed against them by the comptroller of currency and which, It is alleged, they have falled to pay The suit was brought by James B. Bereth. receiver for the bank. The bank suspended business in April, 1926. Later the comptroller of the currency assessed each stockhold et $100 for each share of stock held. total of $50,000. The defendants in of their assessments.
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STOCKHOLDERS DEFUNCT BANK SUED MILWAUKEE. Fourteen stockholders of the defunct First National bank of Crandon. Wis. sued in federal court here day for amounts which sessed against them by the comptroller of currency and which. it alleged. they have failed to pay The suit was brought by James Bereth. receiver for the bank The bank suspended business in Later the comptroller April, of the currency assessed each stockholder $100 for each share of stock held. total of $50,000 The defendants in the suits are said to owe all 01 part of their assessments.
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STOCKHOLDERS DEFUNCT BANK SUED Wis. Fourteen stockholders of the defunct First National bank of Crandon, Wis. were sued in federal court here today for amounts which were assessed against them by the comptroller of currency and which, it alleged. they have failed to pay. The suit was brought by James B. Bereth, receiver for the bank. The bank suspended business in April, 1925. Later the comptroller of the currency assessed each stockholder $100 for each share of stock held, total of $50,000. The defendants in the suits are said to owe all or part of their assessments.
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SUIT BROUGHT AGAINST BANK STOCKHOLDERS Fourteen stockholders of the funct First National Bank of Crandon, were sued in Federal court Milwaukee, for which were assessed against them by the comptroller of currency it is alleged, they have failed to The suit was brought by James Bereth, receiver for the bank The bank suspended business in April, 1926. Later the comptroller the currency assessed each stockhold. er $100 for share of stock total of $50,000. The defendants in the suits are said to owe all or part of their assessment.
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NEWSPAPER EDITORS INVOLVED IN CRANDON POLITICAL JAMBOREE Rival Journalists to Have Stories Appearing in Sheets Examined CRANDON, Wis. The Forest county grand jury tion re-opened Tuesday morning after few days adjournment, with testimony and exhibitions by two rival newspaper editors. The men called have taken an active part in county political affairs arwritten by the journalists dating back several months will be examined. Herman Kronschnabl, editor of the Forest Crandon, and Opens, of the Forest County Tribune of were called appear for examination last Saturday after indictments returned est Himes, mayor of Crandon, H. W Richards, chairman of the county board of supervisors, and 17 others, all being former members or members of the board. Roland Steinle, Milwaukee, recentappointed has delving into testimony ing the defunct First National Bank of Cran don, which closed its doors April 22, Several former employees of bank have been called as witby Mr. Steinle. majority of the indictname bootlegging or other the liquor laws, some returned calling for prosemurder, arson, illegal use nds vice More than ents have been returned Steinle ancases are
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SUIT OF BANK RECEIVER OPENS IN FEDERAL COURT United Press.) suit of James B Bereth. receiver for the First National bank of Crandon, Wis. against stockholders for their 100 percent of the value of 120 shares. par the which disputed. opened in federal The Crandon bank recently* became
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STOCK HOLDERS HELD LIABLE Milwaukee, (AP) Four holders of block of 120 shares of stock in the defunct first National Bank of Crandon were held to be owners of the stock in decision given Friday afternoon by Judge F. Geiger in the district court. The court ruled that the quartet must pay the sessment of $3,000 levied on each by the bank receiver, James Bereth. The four defendants are Barney McGinley, M. Keith, Karlsberg and Dr. Ison. Then denied ownership of the shares, alleging that they merely held the stock as collateral for note.
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Held Owners Of Bank's Stock Milwaukee, April holders block of shares stock in the defunct First National Bank of Crandon held to stock in decision given Friday afternoon Judge Geiger in the United district court. ruled that the must pay the $3,levied each by the bank ceiver, James Bereth. The defendants are Barney McGinley, Keith, Karlsberg, Ison. They denied ownership of the shares, leging that they merely held the stock Mr. Bereth started suit in the Milwaukee ownerand to collect the he under the National bankact.
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FOUR MEN OWNERS OF CRANDON BANK STOCK (By Associated Press) MILWAUKEE. Apr. holders of block of 120 shares of stock the defunct first national banks held to owners the stock in decision given Friday by Judge Geiger the United States district court. court ruled that the quartet pay the of the bank receiver, James Bereth. The four defendants are Barney McGinley, Keith, KarlsIson. They ownership of the shares.alleging that they had the stock for note. Mr. Bereth suit the Milwaukee court ownership the assessments he under the nationbanking act.