Bank of Eau Claire - Eau Claire, WI

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: February 25, 1861
Location: Eau Claire, Wisconsin (44.811, -91.498)

Metadata

Model: gpt-5-mini
Short Digest: 00a6fa50

Response Measures

None

Description

Article (Feb 25–26, 1861 telegraph) reports the Bank of Eau Claire was thrown out at Milwaukee and quoted at heavy discount; mentions owners (Hall Brothers) who suspended and assigned—indicating suspension and assignment to a receiver. No explicit run described in the text; action appears to be suspension leading to assignment/closure.

Events (2)

1. February 25, 1861 Receivership

Newspaper Excerpt: These banks, we believe are owned by Hall Brothers, of Aurora, Illinois, who suspended and assigned some three months ago.
Source: newspapers

2. February 25, 1861 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Owners (Hall Brothers) had suspended and assigned other concerns; bank quoted at 20% discount, indicating failure/insolvency tied to owners' troubles.
Newspaper Excerpt: Telegrams were received yesterday announcing that the Bank of Eau Claire, and the Arctic Bank, both of Wisconsin, were thrown out at Milwaukee.
Source: newspapers

Newspaper Articles (1)

1. March 1, 1861 The Weekly Pioneer and Democrat Saint Paul, MN

Article from The Weekly Pioneer and Democrat, March 1, 1861

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Article Text

COMMERCIAL. Monetary. ST. PAUL, Feb. 26, 1861. Telegrams were received yesterday announcing that the Bank of Eau Claire, and the Arctic Bank, both of Wisconsin, were thrown out at Milwaukee. Our bankers quoteBank of Eau Claire 20 per ct. discount. Arctic Bank 25 per ct. discount. These banks, we believe are owned by Hall Brothers, of Aurora, Illinois, who suspended and assigned some three months ago. By Telegraph] NEW YORK, Feb. 25. Stocks excited and higher, and money plenty and easy at 6@7 per cent. on call. Sterling exchange quiet and steady at 105@1051 best bankers' bills. Pacific Mail. 842; New York Central, 781; Galena & Chicago, 731; Missouri 6's, 652; Virginia, 76; Tennessee, 73%; Treasury 12's, 103; Chicago & Rock Island, 582. CHICAGO, Feb. 25. Exchange has an upward tendency to-day, and there was a slight advance over last week's quotations. Sales were scarce at nominal rate 6&@7. MILWAUKEE, Feb. 25. Exchange and money rates unchanged, though there is a decided advancing tendency.