22655. German American Bank (La Crosse, WI)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
October 26, 1903
Location
La Crosse, Wisconsin (43.801, -91.240)

Metadata

Model
gpt-5-mini
Short Digest
114693fa

Response Measures

Accommodated withdrawals

Description

Multiple contemporaneous newspaper reports (Oct 26–29, 1903) describe a run on the German-American Bank in La Crosse triggered by false rumors (investing in railroad stocks and related stories). Reports state the bank had plenty of money, paid out large sums ($150,000 reported) and was expected to have the run over by the next day; there is no mention of suspension, closure, receivership, or reopening. OCR errors corrected (e.g., GermanAmerican -> German-American).

Events (1)

1. October 26, 1903 Run
Cause
Rumor Or Misinformation
Cause Details
False rumors that officers were promoting a railroad and related rumors that the bank had invested in railroad stocks (also rumor about refusing to honor certain checks) frightened depositors.
Measures
Tellers paid out deposits throughout the day; police and detectives controlled crowds; bank reportedly had plenty of money on hand (over $300,000 in sight reported).
Newspaper Excerpt
False rumors to the effect that the officers of the German-American bank were promoting a railroad, caused a run on that bank to-day, which resulted in drawing out $150,000.
Source
newspapers

Newspaper Articles (10)

Article from The Minneapolis Journal, October 26, 1903

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Article Text

RUN ON A LA CROSSE BANK Depositors of the German-American Bank Frightened by False Rumors. Special to The Journal. La Crosse, Wis., Oct. 26.-False rumors to the effect that the officers of the German-American bank were promoting a railroad, caused a run on that bank to-day, which resulted in drawing out $150,000. Many of the depositors are laborers and farmers. Long before the bank opened this morning crowds flocked around the doors and only for the police and detectives many would have been trampled to death. All day long the tellers have been paying out money, but it is thought the run will be over by to-morrow. The bank has plenty of money to meet all obligations. Cheese Plant Closed. Owing to an attempt to corner the cheese market in the northwest and its inability to borrow money on warehouse receipts, on account of the stringency of the money market, the La Crosse Cheese and Butter company is in financial difficulties, the settlement of which depends almost wholly upon its ability to dispose of $300,000 worth of cheese stored in warehouses in Chicago, Milwaukee, St. Louis, Minneapolis, St. Paul and other cities. The plant closed to-day. The officers are out of the city, so no authoritative statement can be obtained. Winnipeg Boy Injured. George Stark, aged 19, fell under the wheels of a moving train last night, and had one leg cut off and one e arm broken. His home is in Winnipeg. He was taken to the hospital in a serious condition.


Article from The Saint Paul Globe, October 27, 1903

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Article Text

Bank Is Victim of Rumors. LA "CROSSE, Wis., Oct. 26.-False rumors that the officers of the GermanAmerican bank were promoting a railroad caused a run on that bank today which resulted in drawing out $150,000. Many of the depositors are laborers and farmers. It is thought the run will be over by tomorrow. The bank has plenty of money.


Article from Watertown Republican, October 28, 1903

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FRANTIC RUN ON LA CROSSE BANK. German-American Is Known to Be Sound Yet Rumors Frighten Many Women and Farmers. La Crosse, Wis., Oct. 26.-[Special.]A small run was started upon the German-American bank Saturday by a rumor that the bank had been investing in railroad stocks. The run was continued this morning, many farmers coming in as early as 7 o'clock, and by 10 o'clock, when the bank opened, the streets were lined with depositors, a majority being women, all clamoring to get in when the doors opened. Only the efforts of the police detail kept many from being injured by crushing and trampling. At times today there have been 200 people in line. The receiving teller, however, has had a very busy time of it. taking deposits made by La Crosse business men, who know the institution is sound. The bank has over $300,000 in sight on its counters. The women in many cases have been frantic in their efforts to get at the paying teller's window, actually fighting their way, in many instances crying and wringing their hands. It is learned today that besides the false railroad rumor, there was a rumor started that the bank was unsound because of its refusal to honor checks paid the farmers by a local concern which has gone out of business and has no deposits there. The bank is considered sound by all conservative business men and many are drawing money from other banks to help the GermanAmerican, although the latter has not asked aid.


Article from Iowa County Democrat, October 29, 1903

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RUN ON A LA CROSSE BANK. Sound, Yet Rumors Frighten Many Women and Farmers. La Crosse, Wis., Oct. 27.-A small run was started upon the GermanAmerican tank by a-rumor that the bank had been investing in railroad stocks. The run was continued yesterday morning, many farmers coming in as


Article from Vilas County News, November 2, 1903

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HOLD UP LA CROSSE FARMERS. Knowing of Run on Bank Thugs Become Bold. La Crosse, Oct. 28.-Herman Schwiffel was held up and robbed in broad daylight by four masked men heavily armed, the attack being made four miles east of the city. The robbers knew of the run on the German-American bank and knew that many farmers were taking their deposits home. All they got from Schwiffel, however, so far as reported, was a small sum of money and his watch. The robbers attempted to hold up a couple in a buggy also, but the men showed fight and another buggy appeared. The highwaymen jumped on a train and went east It is thought they are a portion of the gang which has been working through Minnesota.


Article from Vilas County News, November 2, 1903

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bank of Athol, Mass. Robert Robinson, Perryville, Ky., and wife, were poisoned by robbers, who then ransacked their home. The wife's death is likely. At Carbondale, Kan., Robert Forbes. a .wealthy citizen, paid $5,000 for a gold brick, which he now finds to be worth at least 50 cents. At Dallas, Texas, Former Governor Hogg, in an interview, emphatically declares himsen out of any race for the United States senate. A run on the German-American bank at La Crosse was started by farmers and women depositors, who heard it had invested in railroad stocks. W. J. Bryan scored by counsel in the Philo S. Bennett will hearing at New Haven, Conn., for drawing up a will in which he himself was made heir. Two suspected postoffice robbers were wounded and captured by six Ishpeming (Mich.) policemen after a revolver battle on a train near that city. At Salem, Ind., Rev. George V. Dickey, pastor of the Presbyterian church, has disappeared and some ot his congregation think he was mur. dered. United States Senator W. M Stewart of Nevada, aged 76, was married to Mrs. Agnes A. Cone of Atlanta, Ga., whose acquaintance he made by letter. Jesse McClue, living near Marion, Ind., shot his sons, aged 5 and 7, to death in revenge on his wife, who refused to see him. He then surrendered. Sir Henry Mortimer Durand, British ambassador at Madrid, will succeed the late Sir Michael Herbert as ambassador of Great Britain to the United States. Albert A. Patterson, the Ann Arbor student who disappeared May 21, was married to Dr. Maude G. Hinman, of Saginaw, one of the two to whom he was engaged. Henry A. W. Healey, son of A. Augustus Healey, Brooklyn, N. Y., surprised society by marrying another than Miss Laura Hubbard to whom he was engaged. From Bloomington, III., a shipment of 500 pounds of seed corn has been made to the department of agriculture of Rhodesiá, south Africa, which will try to introduce maize. Immigration Commissioner Sargent, in his annual report, warns against the colonization of alien communities in large cities, and urges teaching the advantages of the country. Federal courts have jurisdiction over all navigable waters, even if all are in one state, according to the United States supreme court decision. The canais are included. A New York subway cave-in, by which ten workmen were killed, is blamed to negligence. Contractor John B. McDonald's foreman and superintendent were arrested. To prevent confusion and guests being mistaken for ushers at the white house, Secretary Loeb has arranged to have the ushers wear Diue uniforms with silver buttons. Gen. Ballington Booth, in a report to the Volunteers of America field council at Pittsburg, howed that 400 women were cared for during the year in the society's home of mercy. At Butler, Pa., William Marks and Patrick Hardy mistook a nitroglycerin can for a maple sugar can and tried to cut it. Marks was instantly killed and Hardy fatally injured. Fifty per cent. reduction in the pension roll, totaling $79,500,000 is predicted by an official of that bureau as likely within six years. The appropriation asked is $1,700,000 under 1902. One hundred industrial stocks have shrunk $1,753,959,793 since the recent boom, according to Wall street statisticians Standard Oil is $243,750,000 lower and the Morgan group, $18,200,000. The steamer William F. Sauber was sunk in Lake Superior by the explosion of-the boiler after a twenty hours' struggle in a gale. Capt. W. E. Morris and one seaman were drowned. At Joliet, III., Motorman Bouray fainted and fell from the platform of his car at the top of a hill. The car ran away and killed a man and demolished a house at the bottom of the hill. "Believing it to be the will of God. I will come to you letter of acceptance forwarded," telegraphed Rev. Dr. Pondexter S. Henson of Brooklyn N Y., to the parishioners o: Tremont temple, Boston. Janauchek, the actress, has received


Article from Eagle River Review, November 6, 1903

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ALL OVER THE STATE ITEMS OF INTEREST IN BADGER. DOM. Farmer Held Up by Highwaymen-No State Taxes This Year-Disastrous Attempt to Corner Cheese MarketCouple Convicted of Robbery. Herman Schwiffel was held up and robbed in broad daylight by four masked men heavily armed, the attack being made four miles east of La Crosse. The robbers knew of the run on the GermanAmerican Bank and knew that many farmers were taking their deposits home. All they got from Schwiffel, however, so far as reported, was a small sum of money and his watch. The robbers attempted to hold up a couple in a buggy also, but the men showed fight and another buggy appeared. The highwaymen jumped on a train and went east. It is thought they are a portion of the gang which has been working through Minnesota.


Article from Rock Island Argus, November 10, 1903

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Female Bandit Follows Trade in Garb of Man La Crosse, Wis., Nov. 10.-A woman Mrs. Boatcher was caught by Herbandit. who operates in man's cloth- man Pralle, a farmer, who arrived ing, has been captured. She is Mrs. home unexpectedly, and found his Bertha Boatcher, and she has conpremises being robbed by a man who fessed. For several weeks many thefts had a wagon and team. When a light have been reported and since the run was turned on it was found the prison the German-American bank, when oner was Mrs. Bertha Boatcher, who lives about three miles from Pralle's many farmers drew out their money and have since been keeping it at farm. She was sent to the county home, three holdups have taken place. jail for 30 days.


Article from Wausau Pilot, November 10, 1903

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ALL OVER THE STATE ITEMS OF INTEREST IN BADGER. DOM. Farmer Held Up by Highwaymen-No State Taxes This Year-Disastrous Attempt to Corner. Cheese MarketCouple Convicted of Robbery. Herman Schwiffel was held up and robbed in broad daylight by four masked men heavily armed, the attack being made four miles east of La Crosse. The robbers knew of the run on the GermanAmerican Bank and knew that many farmers were taking their deposits home. All they got from Schwiffel, however, so far as reported, was a small sum of money and his watch. The robbers attempted to hold up a couple in a buggy also, but the men showed fight and another buggy appeared. The highwaymen jumped on a train and went east. It is thought they are a portion of the gang which has been working through Minnesota.


Article from Grant County Herald, November 11, 1903

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ALL OVER THE STATE ITEMS OF INTEREST IN BADGER. DOM. Farmer Held Up by Highwaymen-No State Taxes This Year-Disastrous Attempt to Corner Cheese MarketCouple Convicted of Robbery. Herman Schwiffel was held up and robbed in broad daylight by four masked men heavily armed, the attack being made four miles east of La Crosse. The robbers knew of the run on the GermanAmerican Bank and knew that many farmers were taking their deposits home. All they got from Schwiffel, however, so far as reported, was a small sum of money and his watch. The robbers attempted to hold up a couple in a buggy also, but the men showed fight and another buggy appeared. The highwaymen jumped on a train and went east. It is thought they are a portion of the gang which has been working through Minnesota.