Article Text
Bank Suspension. KENOSHA, May 29. The City Bank of Kenosha closed its doors today. It is said depositors and bill holders will suffer no loss.
22637. City Bank (Kenosha, WI)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- state
- Start Date
- May 29, 1861
- Location
- Kenosha, Wisconsin (42.585, -87.821)
Metadata
- Model
- gpt-5-mini
- Short Digest
2864f875
Response Measures
None
Description
Multiple contemporary papers report the City Bank of Kenosha closed its doors (May 29, 1861), are later listed among suspended/insolvent Wisconsin banks and thrown out by Milwaukee banks; no article reports a reopening. Cause appears to be bank-specific insolvency/distress rather than a rumor or correspondent failure.
Events (1)
1.
May 29, 1861
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank closed its doors and was reported insolvent/caved in; later listed among suspended/insolvent banks thrown out by Milwaukee banks and implicated in local banking distress; depositors said likely to suffer no loss but bank considered insolvent by peers.
- Newspaper Excerpt
- Bank Suspension. KENOSHA, May 29. The City Bank of Kenosha closed its doors today.
- Source
- newspapers
Newspaper Articles (5)
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News and Items. An American Zouave Regiment, and 'Irish Brigade are forming at St. Louis. Several thirty-two and twenty-four pounders have arrived a Cairo, and will immediately put in position. The City Bank of Kenosha has caved in. It is said that depositors and bill holders will be saved from loss. Every Southern-fort will be effectually block aded by the 15th of June. Carl Schurz's leave of absence has been re voked, and he has been ordered to Spain with out delay. The loyalists of Virginia will be supplied with provisions and other articles via Wheeling Col. Anderson has been assigned the com mand of the Western Military Department. The Pensacola correspondent of the Mobile Advertiser says Liord Lyons, in behalf of the English government has recognized the block ade. It is expected that the government will soon cut off all possibility of a retreat from Har per's Ferry Gen. Butler will make no advance into Vir ginia until he has twenty thousand men. The six western countiesof Kentucky are said to be very secession. A collision was expected at Grafton, Va. on the 23d, but the rebels evacuated in hot haste A despatch to the N. Y. Herald says a large number of slaves have entered fortress Mon roc, and desired employment. Gen Butler held them as contraband of war, and set them at work. The confederates have erected large batte (ries between Monroe and Norfolk, and regard themselves as impregnable. In a revolt at the Penitentiary at Jefferson City, Mo., on ednesday, four prisouers es caped. The steamship North America has arrived with million dollars in specie. News unim portant. 80,000 troops are to rendezvous at Cairo, and an immediate more on Memphis seems imminent. Troops in Richmond are reported to be poor (ly provided for. A letter from Galveston says all Texas forts are blockaded, and business is dreadful dull. The Cabinet has found a difficult problem for solution. The rebels have seized a number of Union men in Virginia, whom they propose to exchange for the rebels who were caught at Alexandria in arms against the government Now, it is question whether the government shall hang these rebel prisoners-in arms or ex change with the rebels for the release of the Union men. If the former, the Union men will probably be hung in retaliation ; if the latter, there is a recognition of the rebels as belligerents according to all the laws of civil ized nations. It is rumored that there will be a large stam pede of slaves from Virginia, in short time. Col. Blair's St. Louis Regiment has been ordered to fortress Monroe. About 200 citizens of Southern Illinois day or two since went South for the purpose of joining the Southern confederate forces. May (they haven hot time. The N. Y. third regiment for being demoral ized, has been disbanded. The rebels have 10,000 troops at Norfolk and 25,000 more at Richmond, all strongly fortified. It is rumored that Judge Taney is about to resign. We sincerely trust he will make such $ . decision. It is said that eleven steamers are fitting out at Washington navy yard, whose destination is unknown -That's a good joke; -as if the 1, 000 and 1 correspondents and "specials" at Washington could be ignorant of anything that was to transpire. Try again; Mr. Telegraph. A large manufacturing house in Massachu setts is manufacturing large quantities of under skirts of "red, white and blue." It is expected when these come into use, LO lady will object to "show ihg her colors." The prizes brought into the Washington na vv yard on the 22d ult., amounted to $35,000. It will be interesting to Americans every where, to learn that the opposing Generals Scott and ee-have given assurance to the lady trustees of Mt. Vernon that no troops from either side shall be sent to that vicinity, and that not more than three soldiers shall at any one time proceed to Mt. Vernon, and then never in uniform or in arms. The telegraph contradicts its report that s new levy of 100,000 troops was to be made. Extensive war preparations are making at fortress Monroe. A reaction has taken place in Missouri ; the Union men were gathering in great force to drive out the secessionists. There are now 150 negroes in fortress Mon roe. In the Wheeling and Parkersburg districts of Virginia the Union candidate has 33,000 majority. We hear that the Wisconsin regiments are to be quartered thus the 3d at Fond du Lac, the 4th at Racine, the 5th at Janesville, and the 6th at Prairie du Chien. A horticulturist at Madison, Wis., has found that Kerosene oil will destroy bugs on plants. Further experiments developed the fact that it destroyed the plants also. A member of the Fire Zouaves said upon their entrance to Alexandria, the rebela fled 80 rapidly that we could play "seven up" on their coat tails. The ladies of a town near Raleigh, N.C., hearing that one of the commissioned officers of their military company had backed out on a call being made upon his company by Gov Ellis, sent him a complete outfit of petticoats, etc., assuring him that there was no danger for they would take care of him ! The confederate loan of $15,000,000, for which bids were asked two months ago, is not all taken yet. Perhaps they had better offer some of their State stocks as collaterals for loan The N. Y World says the late lamented Ellsworth has been engaged for two years to Miss Carrie Spafford. of Chicago, who is thus
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latest News. The Governor has made requisition on Indiana for four additional regiments. Seven new Massachusetts regiments are starting for Washington. The main blow against the rebels is to be struck from Washington. Gen. McClellan has instructions to sweep out the last vestiges of treason in western Virginia. Fort Pickens is all right, notwithstanding Bragg is a good dog. It is expected that the convention to be held at Knoxville, Tenn. will pursue a course similar to that pursued by the Wheeling convention, The rebels have been busy as bces in the erection of masked batteries all over eastern and southern Virginia. The rebel leaders stimulate their men to fighting heat by telling them that the northern soldiers are intent on outraging their women and committing other atrocious acts. Gov. Pickens, fearing an invasion of his state from the sea-coast, has forbidden any more troops from leaving Palmettodom.This is unkind to "ole Virginny." The Union sentiment of Kentucky is developing very fast. It is believed that the Government will interfere with the due course of law in the case of the captured pirates of the privateer Savannah Mr. Crittenden will offer his compromise at the special session of Congress, backed by a threat of the secession of Kentucky. On Sunday it was thought at Washington that Beauregard was preparing for an advance on that city. A special despatch to the Post however says "good judges say there will not be a battle for two weeks, if all. Yet a special despatch to the World represents Beauregard as about to attack the federal lines at Washington. The navy is to be doubled and the President is about to call for 300,000 men in the aggregate with money to correspond. It is suspected that Congress will suspend the writ of habeas corpus in places where there exists active rebellion, Jeff. Davis is at the Spotswood House, Richmond. Gen. McClelland and Gov. Magoffin of Ky., have entered into a stipulation in which the former agrees to respect the territory of Ky., and the latter pledges himself to protect S. property in the state, and enforce the U. S. laws. The Ky. election resulted in Union majorities in every Congressional district but the 1st. In that L. W. Burnett was elected. It is reported that the Wisconsin war fund has all been taken by the bankers who will use the state bonds for securities in banking and retire their southern stocks. The pursuit of Gov. Jackson, of Missouri, has been abandoned. The state troops were rallying fast, and Illinois troops were going to the assistance of the federal forces. at on A fight in which occurred the Union Sedalia, lost Mo., 23 kill- the 18th, men ed, and the disunionists 25. The Great Eastern was to leave England on the 21st, with troops to protect Canada from invasion by this government! A.S Wolff, of Iowa, has been appointed Consul at Basle. Beauregard recommends guerrilla warfare. Private letters from England state that large numbers of privateers are fitting out as rebel vessels. Breckinridge will probably not take his seat. 5,000 U. S. troops, including the 1st and 2d Iowa regiments, are at Booneville, Mo. The Pope is better. Com. Vanderbilt offers to sell or give his steamer Vanderbilt to the government. Gen. Scott held a war conference with his prominent generals on Monday. On Monday afternoon a large mob gathered in the streets of Milwaukee and committed violence on the bank buildings and upon the persons of several of the bankers. The riot was quelled by the military and on Tuesday all was quiet. The occasion of the disturbance was the throwing out, on the part of the Milwaukee banks, of the following named suspended bills, which they had previously guaranteed : Bank of Columbus, Bank of Green Bay, Bank of Portage, E. R. Hinkley & Co.'s Bank of Grant Co., City Bank of Kenosha, Dodge County Bank, La Crosse County Bank, Northern Bank, Waupun Bank, Wisconsin Pinery Bank. The walls of two buildings in Kansas City, fell on the night of the 22d, burying
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COMMERCIAL MATTERS. THE BANKS. WISCONSIN. The Banks are badly mixed" at present. On Saturday last the following suspended banks embraced in the list which the Banker's Convention agreed to receive till the first of Dee., were thrown out in Milwavkee, and of course other State Banks will follow their example. E. R. Hin.ehley & Co's Bank of Portage. Bank. Bank of Columbus, La Crosse Co. Bank. Bank of Green Bay. City Bank of Kenosha. Northern Bank. Waupun Bank. Wisconsn Pinery Bank. Dodge County Bank. The ant on of the banks was the occasion of a riot, which is reported under the news head. The question arises, what is to become of the balance of the banks. and some predict a general crash. What the people want to know, and what no one can tell. is whether the banks are going to stand up under the pressure. The Milwaukee Banks have taken $500,000 of the war loan. and these bonds will probably be deposited as securities, and relieved from the load of these ten insolvent ones, the remaining banks may be ai le to stand. The Comptroller has called for 8 per cent. additional securities, and when his next report is made, we shall know who are "lame ducks" if there be any. In the meantime let us keep cool and breathe easy till we know something decisive. We give the list of the credited banks as usual. Bank of Madison. Iowa County Bank. Bank of Milwaukee. Juneau Bank, Bank of Ripon. Rock County Bank. Bank of Oshkosh Sauk County Bank. Bank of Racinc. Second Ward Bank. Central Bank of Wis State B'k. of Wis. State Bank. Dane County Bank. Farmers & Millers B'kWis Marine & Fire In. Bank of Jefferson. Co Bank. Bank of Weyauwega. Oakwood Bank. Racine Co. Bank. Green Bay Bank. Corn Exchange Bank. Sauk City Bank, City Bank of Prescott. Shawanaw Bank. Bank of Fox Lake. Bank of P du Chien. Columbia Co, Bank. Hudson City Bank. Commercial Bank. Kenosha County Bank. German Bank. Wisconsin Bank. Bank of the Interior Frontier Bank. Bank of Monroe. Jefferson Co. Bank, Lumberman's Bank. Bank of Moneka. Bank of the N West. Oshkosh Com. Bank. Bank of Beloit. Prairie City Bank. Bank of Grant County. Rock River Bank. Rockwell & Co.'s B'k. Bank of Sheboygan. Bank of Sparta, St. Croix Valley Bank. Bank of Watertown. Summit Bank. Bank of Whitewater, Sun Prairie Bank. Corn Planters' Bank. Walworth Co. Bank. Bank of Wisconsin, Waukesha County B'k. Ex B'k Darling & Co.Farmers & Mechanics' Elkhorn Bank. Bank. Forest City Bank.
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Specie payment was to be resumed on yesterday, Oct. 16th, by such banks of this State as are able to resume. The following, it is rumored, may be unable, in which case their notes may be at a discount for a while, though nothing can be lost by them ultimately: Bank of Columbus, Bank of Waupun, City Bank of Kenosha, Dodge Co. Bank, Iowa Co. Bank, Oneida Bank. The new government paper will prove a great calamity to our local Banks, as their currency will be driven home for redemption. We consider it impossible for Wisconsin Banks to continue business, except in a continued state of suspension. Government paper will be found sufficient for all purposes.