22699. Bank of Milwaukee (Milwaukee, WI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
*
Location
Milwaukee, Wisconsin (43.039, -87.906)

Metadata

Model
gpt-5-mini
Short Digest
01cb162b

Response Measures

None

Description

Articles (Oct–Nov 1842 reprints) mention 'Bank of Milwaukie' bills among 'suspended institutions' and that those banks 'busted up long ago.' The pieces report worthless banknotes rather than any contemporaneous run; no specific suspension date or reopening is given. I classify this as a suspension that resulted in closure (permanent failure) based on language that the bank had 'busted up long ago.'

Events (1)

1. * Suspension
Cause Details
Article simply reports the Bank of Milwaukie among 'suspended institutions' and 'busted up long ago'; no cause given in text.
Newspaper Excerpt
the money, which consisted of $100 in City Trust and Banking Co. Post Notes, Bank of Milwaukie, Hoboken Grazing Co., and other suspended institutions, was not worth a red cent, that the banks on which these bills were had all busted up long ago!
Source
newspapers

Newspaper Articles (2)

Article from The Daily Madisonian, October 26, 1842

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Article Text

From the N. Y. Union. # A SHARP COUNTRYMAN OUTWITTED. A stout, middle aged man, whose appearance showed that he was fresh from the country, came into a store in Catharine street, yesterday, in evident excitement, to inquire the route to the Police Office. His apparent agitation induced the owner of the store, "who, like Paul Pry, was naturally curious to know" to inquire as to the difficulty he was laboring under. He stated, that strolling through South street, he felt something grazing his leg, and, on looking for the cause, saw a man picking up a pocket-book, which appeared to be well filled, and make off with it in great haste. At the same moment another man addressed the countryman respecting the transaction, and advised that they both should start in pursuit. The countryman, thinking he had as much right to the pocket-book aforesaid as the man who found it, was eager to obtain its possession. They fortunately found the man on a dock behind a wood pile, with the pocket-book in his hand, gloating over its rich contents of X.'s and V.'s. The man who joined our friend from the country told the finder of the pocket-book that he (the countryman) was the owner of the book and money, and it must be given up to him, and this our sharp countryman also insisted upon. The finder, however, refused to do this, unless he was paid for his trouble, and was bent on keeping it unless he received at least five dollars. The countryman, eager to obtain possession at so small an outlay, han ed out, in double-quick time, five do lars hard money from a buckskin purse, which the finder received, delivered up the pocket-book, and made himself scarce. The gentleman who aided in finding the fellow also informed the countryman that he certainly was entitled to something for his trouble, and demanded five dollars also, adding that he was then yielding up a fair claim to half the contents of the pocket-book. This, too, was paid, and the countryman hastened to his lodgings close by, went to the room, locked the door, pulled off his coat, and drew forth the treasure in order to have the pleasure "all alone by himself" of counting it, his head already filled with the good he intended to do, and blessing the fortunate event that "carried him to 'York.'" There was a thick roll of tens, fives, and smaller denominations, all handsome looking bills, as if fresh from the different banks on which they were, as their face stated, payable on demand. Notwithstanding the bills were so handsome, our countryman, who knew but little about bills, except the bills of the Long Island Bank) he was from the Island,) went to a broker's office to get "mint drops" in exchange. The broker politely informed him that the money, which consisted of $100 in City Trust and Banking Co. Post Notes, Bank of Milwaukie, Hoboken Grazing Co., and other suspended institutions, was not worth a red cent, that the banks on which these bills were had all "busted up long ago!" Our hero's eyes were opened, he had been cheated by two knaves, and rushed from the office to find the police. He was friendly advised by the storekeeper to let the police office alone-that he had no more right to the money (had it been good) than the two men, and was justly punished for his dishonest intention of appropriating to himself that which he evidently had no right to.


Article from Edgefield Advertiser, November 2, 1842

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Article Text

# A Sharp Countryman Outwitted.-A stout middle aged man, whose appearance showed that he was fresh from the country, came into a store in Catharine street vasterday, in evident excitement to enquire the rout to the Police Office.- His apparent agitation induced the owner of the store, "who, like Paul Pry, was patually curious to know" to enquire as to the difficulty he was laboring under. He stated that strolling through South street, he felt something grazing his leg, and on looking for the cause saw a man picking up a pocket book, which appeared to be well filled, and make off with it in great haste. At the same moment another man addressed the countryman respecting the transaction, and advised that both should start in pursuit. The countryman thinking he had as much right to the pocket-book aforesaid, as the man who found it, was eager to obtain its possession. They fortunately found the man on a dock behind a wood pile, with the pocket book in his hand, gloating over its rich contents of X's. and V's. The man who joined our friend from the country told the finder of the pocket book that he (the countryman) was the owner of the book and money, and it must be given up to him, and this our sharp countryman also insisted upon. The finder, however, refused to do this, unless he was well paid for his trouble, and was bent on keeping it unless he received five dollars. The countryman, eager to obtain possession at so small an outlay, handed out in double quick time five dollars hard money from a buckskin purse, which the finder received, delivered up the pocket book, and made himself scarce. The gentleman who aided in finding the fellow also iuformed the countryman that he certainly was entitled to something for his trouble, and demanded five dollars also, adding that ho was then yielding up a fair claim to half the contents of the pocket book. This, too, was paid, and the countryman hastened to his lodgings close by, went to his room, locked the door, pulled off his coat, and drew forth the treasure in order to have the pleasure "all alone by himself" of counting it, his head already filled with the good he intended to do, and blessing the fortunate event that "carried bim to 'York." There was a thick roll of tens, fives, and smaller denominations, all handsome looking bills, as if fresh from the different bauks on which they were, as their face stated, payable on demand. Not-withstanding the bills were so handsome, our countryman who knew but little of bills, except the bills of the Long Island Bank (he was from the Island) went to a broker's office to get "mint drops" in exchange, The broker politely informed him that the money, which consisted of $100 in City Trust and Banking Co. Post Notes. Bank of Milwaukic, Hoboken Grazing Co. and other suspended institutions. was not worth a red cent, that the banks on which these bills were had all "busted uplong ago!" Our hero's eyes were opened, he had been cheated by two knaves, and rushed from the office to find the police. He was friendly advised by the storekeeper to let the police office alone-that he had no more right to the money (had it been good) than the two men, and was justly punished for his dishonest intention of appropriating to himself that which he evidently had no right to.-Y. N. Union.