22587. Farmers State Bank (Granton, WI)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
October 1, 1929*
Location
Granton, Wisconsin (44.589, -90.461)

Metadata

Model
gpt-5-mini
Short Digest
25f66ed9

Response Measures

Full suspension

Other: State banking commission took the bank over (receiver action).

Description

Articles (Dec 2, 1929) report that the cashier/treasurer was short $13,000 and when he died a run ensued; the State Banking Commission took over the Farmers' State Bank about two months prior to the articles and the community is applying to open a new bank to replace the closed one. Thus a run led to state takeover and permanent closure.

Events (3)
1. October 1, 1929* Run
Cause
Bank Specific Adverse Info
Cause Details
Discovery that the town treasurer (who was cashier) was short $13,000; his death precipitated depositor panic and heavy withdrawals.
Newspaper Excerpt
When the official died a run started on the bank and the depositors' list dropped from 250 to 50 in few days.
Source
newspapers
2. October 1, 1929* Suspension
Cause
Government Action
Cause Details
State Banking Commission intervened and took over the bank following discovery of the cashier's shortage and resulting run.
Newspaper Excerpt
The state banking commission took over the Farmers' State bank here after was found that the treasurer of the town of York, who was cashier of the bank, was short $13,000.
Source
newspapers
3. December 2, 1929 Other
Newspaper Excerpt
Six men, selected by 300 farmers and merchants, have been instructed to go to Madison and seek permission for the selling of stock in a new bank proposed here to replace the Farmers' State bank closed two months ago.
Source
newspapers

Newspaper Articles (2)
1. December 2, 1929 The Waukesha County Freeman Waukesha, WI
Article from The Waukesha County Freeman, December 2, 1929

Click image to open full size in new tab

Article Text

STATE PERMISSION ASKED TO OPEN BANK GRANTON, Wis. Six men, selected by 300 farmers and merchants, have been instructed to go to Madison and seek permission for the selling of stock in a new bank proposed here to replace the Farmers' State bank closed two months ago. The state banking commission took over the Farmers' State bank here after was found that the treasurer of the town of York, who was cashier of the bank, was short $13,000. When the official died a run started on the bank and the depositors' list dropped from 250 to 50 in few days. The six men who will apply for permission for the new bank are: Henry Williams, L. J. Bluett, Fred Hart, Fred Ryler, G. H. Hrach and Herman Braatz.

2. December 2, 1929 Wisconsin State Journal Madison, WI
Article from Wisconsin State Journal, December 2, 1929

Click image to open full size in new tab

Article Text

Granton Men Ask to Open New Bank Come to Madison to Obtain Permission from State men, selected by 300 farmers merchants, have instructed go and seek permission for the selling of stock bank replace the Farmers' State bank, closed two months The state banking commission took the State bank after found that the treasurer the town York. was cashier the bank. short $13,000. When the official died. started the depositors dropped from 250 50 few The six men will apply for for the Henry Williams. Bluett, Fred Hart. Fred Tyler. G. H. Hrach and Herman Braatz.