22578. State Bank (Elroy, WI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 13, 1930
Location
Elroy, Wisconsin (43.741, -90.272)

Metadata

Model
gpt-5-mini
Short Digest
b6a84df8

Response Measures

None

Description

Multiple contemporary newspaper accounts (Dec 13–14, 1930) report the State Bank of Elroy was closed by the Wisconsin state banking department and its assets placed in the department's charge. No article describes a depositor run; reports describe a suspension/closing by the authorities and mention hoped-for reorganization but no reopening is reported.

Events (1)
1. December 13, 1930 Suspension
Cause
Government Action
Cause Details
Closed by the state banking department; assets placed in charge of the department following action of board/state authorities; suspension ordered by state banking department or closed by board on state banking department action as reported Dec. 13 6, 1930 in newspapers.
Newspaper Excerpt
The bank to close its doors was the State Bank of Elroy. It is hoped to reorganize this bank so that it can resume business in the near future
Source
newspapers

Newspaper Articles (5)
1. December 13, 1930 Wisconsin State Journal Madison, WI
Article from Wisconsin State Journal, December 13, 1930

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Article Text

Elroy Bank Closes, Two Others Open Blair, Plymouth Banks Resume Business After Suspensions Two Wisconsin state banks, the Home Bank of Blair and the Plymouth Exchange bank, which have been in charge of the state banking department reopened their doors this morning, while another state bank suspended operations and placed its assets in the charge of the department. The bank to close its doors was the State Bank of Elroy. It is hoped to reorganize this bank so that it can resume business in the near future The Home of Blair resumed with capital of $30,000 and with P. Ibach. president: H. E. Stumpf, vice-president, and D. E. Bersing, cashier. The directors are: J.J. Ourodnik. A. E. Nehring. C. (Continued on pag 4 column 8)

2. December 14, 1930 The Indianapolis Star Indianapolis, IN
Article from The Indianapolis Star, December 14, 1930

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Article Text

BANK ORDERED TO CLOSE, Connecticut Suspension Ruled to Protect Depositors. Conn., The Commercial Trust Company of New Britain, capitalized at was restrained from paying out deposits this afternoon by the who said the cash position been weakby of the last and the suspension to the interests The said every effort be made reorganize the bank. has of and Of the savings are nearly and than The bank the Connecticut to be closed the bank commissioner within John president of the no loss and expressed the would reopen in about week. 3 MIDWEST BANKS CLOSE. Three more small mid West banks closed their doors In the Washta State bank with deposits of closed by its This was the enth bank failure in Iowa within In Illinois, the First National Bank failed to for business the State Bank of Elroy with deposits of $160,000. was closed by the state banking department. Two other Wisconsin banks, for reorganization, were reopened.

3. December 14, 1930 The Independent-Record Helena, MT
Article from The Independent-Record, December 14, 1930

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Article Text

GRAIN By JOHN P. BOUGH Dec. -Skidding and July wheat today reached the lowest prices registered in 27 In sharp contrast. other future delivwere upheld by Federal Farm allies. July dropped into the "sixties." and finished virtnally the day's bottom figures. Closing heavy. with whent from yesterday to cents lower. corn to off. onts 10 down. and changed 10 10 cents taking wheat down bushel exactly same price December corn closed The but cent low for tury. According authorities mount ever. appeared to swayed by of of nadian abroad. stance regarded toreshadowing Canada and countries be the equator Miles Dec. 13. production of sugar beets in the Miles City vicinity started movement to secure a beet sugar factory this The proposition was brought before the Commercial club by Sawtell who expressed himself as confident beet sugar plant would be DAY ing concern. would also speed up sugar beet culture. said. The suggestion met with favor among business men and although no action has been taken to work for the factory is said the proposition may be launched at an early time. Mr. Sawtell believes beet sugar factory would be paying concern and one farmers would welcome. Farm land under the ditch around Miles City 16 adapted to sugar beets. 100. lower. light 25c and lower: choice Christpractical top matured bulk short fed light 500: fresh limited to market: prices naminally trucked all hos 500. for week Lambs. fed time: sales. feeding sales. lumbs to Cut SPOKANE 13: Dec. 2. sheep All THREE SMALL BANKS IN MIDWEST CLOSE DOORS Chicago. Dec. 13. more small midwest banks closed their doors today In Iowa, the Washta State bank. with deposits of $125,000. was closed by its directors In Illinois. the First National Bank of Sesser. capitalized at $25,000. failed to open for business: in Wisconsin. the State Bank of Elroy. with deposits of $460,000, was closed by the state banking department. Two other Wisconsin hanks, closed for reorganization, were opened. GERMANY HOLDS OFF ON AGREEMENT ON SUGAR GOOD NEWS Detroit. Mich Dec. The Chevrolet Motor company announced tonight 18 adding night shift to its present force of em playes and that It expects to keep least 30,000 men AL work in the Do- MINNEAPOLIS compared to Market lower: northern. No. northern Brussels, Dec. 13. (/P) An agreement on plan 10 stabilize what Thomas L. Chadbourno called bewttched industry" the world's SURRE business WAS reached today by all continental European nations attending the International sugar conference except Germany. Thus the conference must continur Monday despite the fact that many delegates expected It to end today and were forced to concel railway reservations which they had procured Tumbling wheat quotations followed by reports of wet wonderful Investigate throughout the provinces of Pain 4616 Ohio pas Cordoba identally wheat trading more PERSONAL than of late. There were predicJoin our tions that extremely low prices for handsome wheat would not only serve to ladies honorable tail spring wheat acreage in this yourself. ideal. country and Canada but also would Club. Box Send Standard mean likelihood that would hardly pay to cut some the wheat protein. protein. in Argentina and Australia. protein. Provisions with grain. hard Montana spite upturns in the value of hogs durum. Open Low May SEATTLE No Cattle. 31. CORN FUTURES 250 (AP). Price WHEAT OATS Dec May RYE Dec Close December (new) LARDJan yellow. white. sales

4. December 14, 1930 The Des Moines Register Des Moines, IA
Article from The Des Moines Register, December 14, 1930

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Article Text

SUIT DEMANDS N. Y. BANK PROBE Bank of United States' Stockholder Asks an Accounting NEW YORK Phe Bank of United States has been named defendant In sult demanding an accounting and calling for an investigation of the institution's affairs Max E Bloch chairman of a stockholders' protective committee, filed the action in Westchester county supreme court The bank was closed Thursday by Joseph Broderick state superintendent of banking Restrain Bank in East. HARTFORD CONN The Trust of New Britain, capitalized at $500.was restrained from paying out deposits Saturday afternoon by the state bank commissioner. Elroy Wis Bank Closed. MADISON, The banking department anthat the State Bank of Elroy was closed Saturday on action of its board of directors. The bank last statement showed a surplus of 000 and deposits of The banking departalso the reopening of the Home bank of Blair of $30,000 and that of the Plymouth Exchange bank of Plymouth, capitalized for $50,000 Union City, Ind., Bank Fails. APOLIS state banking department was notified Saturday of the closing of the Union Loan and Trust company at Union The institution was capitalized at $50,000, with deposits of $455,000. Michigan Depository Closed. BRIDGM MICH The Bridgman State bank failed to open its doors Saturday The bank, fifteen years old. had deposits of approximately $500,000 and was capitalized at $20.000. Illinois Bank Closed. SESSER. ILL. (P)-The First National Bank of Sesser failed to open Saturday The bank was capitalized at $25,000 and was the only depository here.

5. December 14, 1930 The Independent-Record Helena, MT
Article from The Independent-Record, December 14, 1930

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Article Text

GRAIN By JOHN P. BOUGHAN Chicago (AP) Skid ding cotton and stocks, July wheat today the lowest prices registered in In sharp contrast other future deliv upheld by Federal Farm board July dropped into the finished a virtually day's bottom figures Closing quotations on all corpals were with wheat 1111 hanged from to lower off to provisions The fall of whent down exactly same price December corn Hosed but cent above all time for this According mount grain business outlook Wheat how appeared swayed by ports of cheaper offerings of nadian abroad and countries below the equator and good helfers lower: bulls. 25c light yearling steady and 25 50c top top bulk short fed steers $7.50 bulk steers and 26 choice to stock Hogs. supply limited to test market prices nominally steady: no car hogs trucked nominal for week Lambs. 25 early fed lambs. showin to high time late slaughter $3.75: sales. $3.25 feeding lambs bulk $6.25 to $6.65 SPOKANE 2; sheep All steady unchanged SEATTLE THREE SMALL BANKS IN MIDWEST CLOSE DOORS Dec. 13 Three more small midwest banks closed their doors today In Iowa, the Washta State bank, with deposits of $125,000. closed by its directors In Illinois, the First National Bank of Sesser. capitalized at $25, 000. failed to open for business; in Wisconsin. the State Bank of Elroy. with deposits of $460,000, closed by the state banking department. Two other Wisconsin banks, closed for reorganization, were opened. Tumbling wheat etc quotations mist. followed by reports of wet har Makes wonderful and demon vest in Argentina package Tremendous Big Investigate sure throughout the of Pain P94-11 wheat trading PERSONAL than of There predic Lonely our club. world's tions that extremely prices for greatest extension bureau Let wheat would not only serve to cur ladies or honorable men like tail spring wheat acreage in this lonely One may your country Canada but also would Standard Club. Box mean likelihood that would hardly pay the wheat in Argentina and Australia cent Provisions sagged with grain dedark hard Montana cent prospite upturns in the value of hogs to arrive No. amber WHEAT- Open Low Close Dec durum. (old) March. May July. Mar May (old) to May Barley Seattle. Dec 31. CORN Flax No to Hogs. 442 $9.25 to heavies under 250 heavies. MINNEAPOLIS FUTURES 300 lbs., $8.25 to heavies. 300 lbs. Dec over packing WHEAT $6.25 to $7.25 plgs. $8.35 Dec May (old) May Dec 41% OATS May 42 33% FLOUR Flour unBran (old) to $18: middlings $17 $17.50 34% FLAX Duluth Dec 13 flax on May (old) 45% GERMANY HOLDS OFF ON May (new) AGREEMENT ON SUGAR LARD9.50 Brussels, Dec. 13. (AP) An May 9.15 9.15 agreement on plan to stabilize what Thomas L. Chadbourne called 11.40 May 11.62 bewitched industry' the Cash world's sugar business reached today by all continental European nations attending the inwhite, to GOOD NEWS ternational sugar conference except 33c. Detroit, Mich., Dec. 13 Germany BarleyThe Chevrolet Motor company an- Thus conference must con$8.50 nounced tonight is adding night tinue Monday despite the fact that Clover to $22 shift to its present force of em- many delegates expected it to end IN MINNEAPOLIS ployes and that expects to keep at today and were forced to concel Dec 229 least 30,000 men at work in the De- compared to 220 year ago. Market railway which they had troit area all winter 80%c: No. northern 15 per cent procured course has finally been put in its place. is in the Nebraska state insane hospital and is used by the patients to keep their minds occupied. is thought that this game will aid materially in managing the