1.
June 3, 1893
The Wheeling Daily Intelligencer
Wheeling, WV
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THE PLANKINTON FAILURE. Confid out that the Depositors Will Be Paid. Ruus on Other Banks. MILWAUKEE, WIS. June 2.-Assignee William Plankinton, of the Plankinton bank, assumed official charge of that institution this morning. A feeling of security to all depositors pervades the atmosphere to-day, as the appointment of Mr. Plankinton gives assurance that every dollar due depositors will be paid as rapidly as it can be legally done. The failure of the bank has caused a nervous feeling among small depositors in other banks. and many are withdrawing their money. A small run occurred on the Commercial Bank this morning, but that institution, it is stated, is on a sound basis and can withstand all demands. Depositors in the savings do. partment will be held closely to the thirty day clause, however.
2.
June 4, 1893
Wheeling Sunday Register
Wheeling, WV
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CONCERNING BUSINESS AND FINANCE. MILWAUKEE, WIS., June 3.-At4:30 this afternoon E. T. Day, President of the Plankinton bank, made assignment to W. H. Homesen, cashier of the defunct bank. The assignee bond is fixed at $800,000, which represents the amount of the assets. MILWAUKEE, WIS., June 3.-There was a slight increase in the run on the Commercial Bank to-day. The run is due to the feeling of distrust, engendered by the Lappen and Plankinton Bank failures. The people who are taking their money out are small depositors. Among business men the bank is considered sound. WASHINGTON, D. C., June 3.-Comptroller Eckels is determined that bank directors shall know the obligations they assume when they become such and with that object in view has had a circular printed containing the sections of the law defining the duties ane obligations of bank directors. When a new bank is established a copy of this circular will be forwarded to each director. It also contains the penalties prescribed for neglect of duty. Comptroller Eckels says he will endeavor to make bank directors understand that they are liable under the law for the fulfillment of their duty to stockhelders and dedesitors. NEW YORK, June 3.-The weekly bank statement shows the following changes: Reserve, decrease, $4,452,452; loans, increase, $788,600; specie, derease, $500,700; legal tenders, decrease, $5,280,100; deposits, decrease, $5,313,500; circulation, decrease, $9,200. The banks new hold $20,807,500 in excess of the requirements of the 25 per cent rule. CHICAGO, June 3.-The Grant Locomotive Works is being pressed by some of its creditors and in order to provide ready cash has called a meeting of stockholders. The trouble was precipitated by the recent strike of machinists, which prevented the company from making deliveries on its contracts and thus securing ready money. The establishment is solvent and the assets greatly exceed the liabilities. CHICAGO, June 3.-G. McClowry, capitalist, but recently returned from his plantation in Louisiana, committed suicide at the Metropolitan Hotel this morning on account of financial reverses. He was prominently connected, He leaves a wife and two children. KOKOMO, IND., June 8.-The grand jury investigating the Greentown Bank failure will not report before Tuesday morning, but the papers here announce with much positiveness that indictments have been found against ex.Gov. Chase, John W. Paris and Cashier Walden.
3.
June 4, 1893
The Roanoke Times
Roanoke, VA
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Plankinton Bank Assignee. MILWAUKEE, June 3. - Assignee A. Plankinton of the Plankinton bank has assumed official charge of that institution. A feeling of security to all depositors pervades the atmosphere, as the appointment of Mr. Plankinton gives assurance that every dollar due depositors will be paid as rapidly as it can be legally done. The failure of the bank has caused a nervous feeling among small depositors in other banks and many are withdrawing their money. A small run occurred on the Commercial bank, but that institution, it. is stated, is on a sound basis and can with. stand all demands.
4.
June 4, 1893
Richmond Dispatch
Richmond, VA
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MILWAUKEE BANK RUNS. Small Depositors Give Notice of Withdrawal of Their Savings. (By tolograph to the Dispatch.) MILWAUKEE. WIS, June 3.-Runs were made to-day as yesterday on practically all the banks in the city to a greater or lesser degree. The small savings depositors, always timid and easily alarmed, have taken fright at the Plankinton Bank failure and have disregarded the causes of that failure, which the business-men represent to be only the careless and foolhardy speculations of one man. The Commercial and the Second Ward banks were crowded to. day with depositors in their savings departments who are giving notice in order that at the end of the thirty or sixty days, whichever it 18 according to the law in their case, they will withdraw their savings, The officials of both institutions, however, feel no alarm.
5.
July 21, 1893
Deseret Evening News
Salt Lake City, UT
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A Milwaukee Bank Fails. MILWAUKEE, July 21.-The Commercial Bank has failed. The bank assigned to A. B. Gellfuss, the cashier, who filed a bond of & milllon six hundred and fifty thousand. The troubles of the bank are said to result from the acceptance of a large amount of paper of Corrigan, Ives & Co. The following notice was pasted on the door: "Owing to heavy withdrawals by depositors and inability to make immediate collections, this bank is compelled temporarily to suspend payment." The bank has a capital of a quarter of a million. The July statement gave the liabilities as $1,656,850, of which $557,748 are due depositors on demand and $528,915 OR time, The direct cause of the suspension was the failure of the Douglass Furnace company of Sharpsville, Pa., of whose certificates of pig iron the commercial had about $130,000. It is claimed the sheriff attached the iron, ignoring the certificates. The deals with the Furnace company were through the Schlessinger syndicate. The legal representative of the bank says if the bank can get pig iron, which the warrants call for, and to which it is legally entitled, it will be all right. Depositors have been withdrawing money for some time and when closed it had only $80,000 demand certificates on hand.
6.
July 22, 1893
The Wheeling Daily Intelligencer
Wheeling, WV
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CONDENSED TELEGRAMS. An Italian family sick with small pox was discovered in Now York. The Commercial Bank at Milwaukee has suspended. Total liabilities $1,656,- . 807. The Japan section in the art building at the World's Fair was opened youterday. The British miners refuse to arbitrate or to accept the 25 per cent reduction and n prolonged strike ie inevitable. The total number of fourth-class postmasters appointed yesterday was 120, of which 49 were to fill vacancies caused by resignations and deaths. An Ashland, Ky., special says that n report has just reached there from Wise county, Vn., that a fight took place Wednesday in that county between state troops and outlaws and that four soldiers were killed and six outlaws mortally wounded.
7.
July 22, 1893
The Times
Richmond, VA
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BANK FAILURE IN MILWAUKEE. Assignment of the Commercial Bank. Other Failures Reported. MILWAUKEE, WIS., July 21.-The people about the court-house were thrown into a state of consternation about 10:30 o'clock this morning, when an attorney jumped up the stairs, two steps at a time, leading to the clerk's office and filed a voluntary assignment of the Commercial Bank. This haste was owing to a number of creditors hard on his heels who had attachments and executions to file. The assignee appointed in the papers filed is A. B. Geilfuss, the cashier of the bank, and his bond is placed at $1,200,000. The bondsmen are Albert Conro, Charles F. Pfister and E. Mariner. The entire fund of Mllwaukee county, amounting to $310,624 vas deposited in the Commercial Bank. The newly-organized Milwaukee Electric Rallway Company was also a depositor to the extent of $200,000. During the financial flurry a month ago, caused by the Lappen failure and which resulted in the suspension of the Plankinton Bank, there was quite a run on the Commercial, but it has been generally believed that the institution would weather the storm. As there has been no trouble here for some time the assignment this morning was a great surprise. WARRENSBURG, MO., July 21 The Johnson County Savings Bank suppended yesterday. TACOMA, WASH.. July 21.-The Traders' Bank of Tacoma failed to open for business this morning. The bank's suspension is due to its inability to procure ready money. Its securities are sufficient to pay all obligations and leave a large surplus. Without any run or excitement the deposits of the bank have by a steady drain been reduced since October over 80 per cent.
8.
July 22, 1893
The Roanoke Times
Roanoke, VA
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MORE BANK FAILURES. The Commercial Bank of Milwaukee Makes an Assignment. MILWAUKEE, Wis., July 21.-People about the courthouse were thrown into a state of consternation about 10:30 o'clock this morning when an attorney jumped down stairs, two steps at a time, leading to the clerk of court's office and filed & voluntary assignment of the Commercial Bank. This haste was owing to the number of creditors hard on his heels who had attachments and executions to file. The assignee in the papers filed is A. B. Geilfuss, cashier of the bank, and his bond is placed at $1,200,000. His bondsmen are: Albert Conro, Charles F. Plister and E. Marion. The entire fund of the Milwaukee company, amounting to $310,624, was deposited in the Commercial Bank. The newly organized Milwaukee Electric Railway Company was also & depositor to the extent of $200,000. During the financial flurry a month ago, caused by the Lappen failure, and which resulted in the suspension of the Plankinton Bank, there was quite a run on the Commercial, but it has been generally believed that the institution would weather the storm. As there has been no trouble here for some time, the assignment this morning was a great surprise. TACOMA, Wash., July 21.-The Traders Bank, of Tacoma, failed to open for business this morning. The bank's suspension is due to inability to procure ready money. Its securities are sufficient to pay all obligations and leave a large surplus. Without any run or excitement the deposits of the bank have by a steady drain been reduced since October over eighty per .cent.
9.
July 22, 1893
The Morning Call
San Francisco, CA
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MILWAUKEE BANK SUSPENDS. Due to the Failure of a Pig-Iron Concern in Pennsylvania. MILWAUKEE, July 21.-The Commercial Bank has failed. The bank assigned to A. B. Geilfuss, cashier, whose bend was fixed at $1,650,000. The troubles of the bank are said to result from the acceptance of a large amount of the paper of Corrigan, Ives & Co. The following was posted on the door: "Owing to heavy withdrawals by depositors and the inability to make immediate collections this bank is compelled to tem. porarily suspend payment." The bank has a capital 01 $250,000. The
10.
July 22, 1893
The Seattle Post-Intelligencer
Seattle, WA
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A Milwankee Bank Suspends. MILWAUKEE, July 21.-The Commercial bank has assigned to Cashier A. B. Gilfuss. The direct cause of the suspension was the failure of the Douglass Furnace Company, of Sharpeville, Pa., of whose certificates of stored pig iron the Commercial bank had about $130,000. It is claimed the sheriff attached the iron, ignoring the certificates. The deals with the furnace company were through the Schlesinger syndicate. The legal representative of the bank says if the bank can get the pig iron which the warrants call for, and to which it is legally entitled, it will be all right.
11.
July 22, 1893
Rock Island Daily Argus
Rock Island, IL
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MILWAUKEE BANK SUSPENDS. The Commercial Closes to Avoid Criminal Prosecution. MILWAUKEE, July 22.-"The bank closed its doors," said Mr. Timlin, "with $80,000 in cash in its vaults for the reason that we did not want to take any chances of criminal prosecution. Deposi ors will be paid in full without doubt. The demand deposits have been reduced to about $30,000 since July 1, and about $150,006.has been withdrawn on open accounts. As near as I remember the savings deposits at the present time amount to $383,000." Mr. Timlin is a director of the Commercial bank, a state institution which has succumbed to the prevailing depression. He also str ted that several of the best business men in the city owe the bank $409,000 which cannot now be collected. The bank held over $300,000 of the county funds. As a' result of the closing H. M. Benjamin, a director who is security in $100,000 for the county money, is in trouble and the sheriff has charge of his property.
12.
July 22, 1893
The Indianapolis Journal
Indianapolis, IN
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CAN'T STAND BAD REPORTS Milwankee Bank Failure Acted as a Wet Blanket on Chicago Markets. Early Advances in Wheat Were Wiped Out in Short Order Near the Close, Spoiling What Had Been a Good Day for Bulls. TRADING AT CHICAGO. Provisions Were Pyrotechnical, Pork Advancing $1.60 and Dropping 75e. CHICAGO. July 21.-A bad slump at the close nearly spoiled to-day's record for the bulls in the grain market. The Milwankee bank failure 18 largely the cause. Compared with last night wheat is down 5/80 and corn 3/8 c. There was a display of manıpulative fireworks in pork and lard, but actual transactions were not large. After an advance of $1.60 in September pork it ended with & net gain of 85c. Lard, after an advance of 37½0, wound up with the modest gain of .071/2C in September. October lard at the close shows no change since yesterday. Ribsare .10c higher. Wheat showed considerable strength during most of the session, the result of better feeling in New York and London. Cables reported steady markets abroad, while a good cash demand was reported from many points, Toledo alone reporting 325,000 bushels taken for shipment. Hot temperatures were noted all over the Northwest and there was considerable apprehension felt that the crop might be materially injured by reason of it. Shorts were good buyers and there was a fair investment demand. While everything was indicating a strong market news came of the failure of the Commercial Bank of Milwaukee. The market got very nervous, and turned weak during the last hour in response to a drop in stocks. There was free liquidation. The sharp decline in corn also helped to weaken wheat. The final figures were about the lowest of the day. Corn received more than usual attention. The principal feature was the relatively firmer tone to the near deliveries, cash selling up one time to 3/8 0 over September. This would indicate that there was 8 better shipping demand for the cash article, and had a strengthening effect on the more deferred futures. but the closing out of a large long line increased the bearish sentiment and the market became weak. Prices went off rapidly during the last hour. Crop reports came in very favorable, heavy loadings of corn were reported in the country. and alt the early strength was rapidly eliminated. Early buyers tried to seil, and longs let go with a unanimity that was remarkable. The market opened at yesterday's final figures, and soon sold up 3/8c. August being the strongest. Later the price worked down 7/8 c for September. became steadier, and at the close August was unchanged, while September was 1/4 @30 easier. In oats the offerings of July were quite heavy early, and the prices dropped 3/4c from the opening figure. September was steady to a shade firmer, owing to a better inquiry. and also fewer sellers. The feeling toward the close was steadier. and July rallied 420. but closed with & loss of 1/4c. Angust and September closed at 1/8/1/40 advance, but May at 1/8c decline. There were 16,000 hogs at the yards instead of 20,000. as had been expected. That gave the manipulators a chance to scare the crowd. One or two buying orders for pork put $1.50 on the price of that article. Then there was no further trade until the price was back to $20. September lard advanced rapidly until it touched 10.3742c. It then began to run down hill, andstopped only when it was back at 10c. the same
13.
July 22, 1893
The Record-Union
Sacramento, CA
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increase in the reserve. The amount of cash in the banks would probably be less than last week. FAILURE OF A MILWAUKEE BANK. Milwaukee, July 21.-The Commercial Bank has failed. The bank assigned to A. B. Geilfuss, Cashier, who fixed the bond at $1,650,000. The troubles of the bank are said to result from the acceptance of a large amount of the paper of Corrigan, Ives & Co. The following was posted on the door: "Owing to heavy withdrawals by depositors and the inability to make immediate collections, this bank is compelled to temporarily suspend payment." The bank has alcapital.of $250,000. The July statement gave the liabilities at $1,656,350, of which $557,743 are due depositors on demand, and $528,915 on time. The direct cause of the suspension was the failure of the Douglass Furnace Company of Sharpeville, Penn., of whose certificates of stored pig-iron the Commercial had about $130,000. It is claimed the Sheriff attached the iron, ignoring the certificates. The deals with the furnace company were through a syndicate. The legal representative of the bank says if the bank can get the pig-iron which the warrants call for, and to which it is legally entitled, it will be all right. The depositors have been withdrawing money for .some time, and when the bank closed it had only $30,000 demand certificates on hand. AT
14.
July 23, 1893
The Sun
New York, NY
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MORE BIG BANKS CLOSED. THE MILWAUXEE AND KENTUCKY NATIONAL BANKS QUIT. Runs Throughout the Day In MilwankeeThe South Side Savings Also Goes Us der-Both Milwaukee Banks Were Com sidered Sound-The Kentucky National Has Been in Straits Two Years-0 her Suspensions In the South and Went MILWAUKEE. July 22.-Two more banks failed to-day. and there were runs on the leading banks of the city. especially the German-American and Merchants' Exchange. The Milwaukee National Bank did not open its doors this morning. and the South Side Savings Bank suspended at 101/2. The Milwaukee National. of which C. J. Bradley is President had A capital of $250.000, and was considered one of the soundest instie tutions in the city. Its failure created much surprise. The July 12 report of the condition of the bank showed total resources. including loans. discounts. overdrafts, and unsecured accounts. bonds to secure circulation due from other banks. etc., of $1,965,385.76. Liabilities were placed at the same figures, including Individual deposits subject to check. $413,836: demand certificates of deposits. $310.161: due other national banks and bankers. $198,890. George H. Noves was President, G. McClure. oashier. and George H. Noyes and J. H. and J. D. Imbusch. directors. The officers of the South Side Savings Bank are President G. A. Trumpff and Cashier J. B. Koetting. each of whom holds $50,000 of stock in the bank and are the only stockholders. The semi-annual statement made July 1 placed the liabilities at $1,158,955.17. Of this $286,012. 48 was due to depositors on demand and $735,452.71 on time. President G. C. Trumpff in referring to the trouble said: "Since the Plankinton Bank closed we paid out in savings and certificates over $350,000 besides large drafts made on us by commercial customers. We have since July 15 paid out in savings over $120,000 besides other certificates. When the Commercial Bank closed we had a hiu run here and paid out every cent We had in the house yesterday. The savings depositors and the commercial depositors commended to check against us heavily. and in addition to the money we had on hand we were compelled to raise $6,000 to satisfy the demands of the day. We made very good connections during June and July. and our coinmercial creditors did everything to give us hearty support. We could not collect money enough. however. to pay all demands which were made on us. and therefore were compelled to suspend. I shall move for the appointment of a receiver as soon as possible. and then shall he able to make n statement for our creditors. In sofar as I am able to say at this time the condition of the bank is good." The Milwaukee National acted as the clearing house. and the Wisconsin National was promptly named to take its place in this eapacity. The news of the trouble in these two institue tions. together with the failure of the Commercial Bank and H. IM. Beniam yesterday. started runs on A number of the other banks. Crowds gathered in front of the GermanAmerican. Merchants' Exchange. and Second Ward banks. but by noon the excitement had in a measure subsided. and A general feeling of confidence in the security of these places of deposit prevailed. A notice was posted on the doors of the Merchants'Exchange Bank which said the undersigned, directors of the bank. were personally responsible for moneys UAposited. The notice was signed by five die rectors. This had a quieting effect. and by means of a few policemen the erowd was considerably lessened. The depositors in the Second Ward Bank are mainly German working people. who seemed to have become pania-stricken. despite the fact that the bank is backed by Milwaukse's wealthy brewers. who have given n personal guarantee for everything in the bank. The closing of the Milwaukee National was a surprise, even to some of the stockholders
15.
July 24, 1893
The Madison Daily Leader
Madison, SD
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SHUT THE BANKS. Milwaukee National and South Side Savings Banks Close Their Doors. Withdrawal of Deposits and Inability to Realize on Securities the Cause. First National Bank of Louisville, With $1,000,000 Capital, Also Assigns. MILWAUKEE, July 24.-The Milwankee National and the South Side Savings banks have closed their doors. The Milwaukee National acted as the clearing house and the Wisconsin National was promptly named to take its place in this capacity. The news of the trouble to these two institutions, together with the failure of the Commercial bank and William H. M. Benjamin Friday, threw the city into a small panic and runs were at once started on a number of the other banks. Crowds soon gathered in front of the German-American, Merchants Exchange and Second ward banks, but at noon the excitement had in a measure subsided and a general feeling of confilence in the security of those places of deposit prevailed. The city, however, was full of wild rumors, impossible to verify, and probably for the most part without foundation. Responsible For Deposits. At 11 o'clock notice was posted on the doors of the Merchants Exchange, on which there had been a heavy run: "The undersigned directors of the Merchants Exchange bank are personally responsible for moneys deposited in this bank." Signed by Rudolph Nunnemacher, Reid Vogel, Jr., Julius Golt, Charles F. Pfister, Frank J. Kipp. This had a quieting effect and by means of a few policemen the crowd was considerably lessened. The statement on the doors of the Milwaukee National was simply: "By order of the board of directors this bank is closed." The statement o the condition of this bank on July 12 last gave the liabilities as $1,965,383.76 Of this the capital amounted to $200.000, the surplus fund $250,000, undivided profits $99,439.32 national bank notes outstanding $89. 250; deposits $1,045,898.33; notes and bills discounte.1 $230,798.11. Statement of President Noves. George H. Noyes is president of the bank, and J. McClure cashier. President Noyes, in referring to the condition of the Milwaukee National bank, said: "This bank I consider perfectly sound. It has $500,000 in assets above the liabilities. In ordinary times it would pay all depositors in full within three months, leaving a surplus of 200 cents on the dollar for distribution among its stockholders. The reason for the closing is the one that has been so much repeated in the last 60 days, that the public know it without being told. The shrinkage and withdrawals of deposits and the inability of customers to meet their obligations to the bank have
16.
September 21, 1893
St. Paul Daily Globe
Saint Paul, MN
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Will Soon Resume. MILWAUKEE, Sept. 20. - Receiver Geilfuss says that the statement of Supervisor Baldauf regarding the condition of the Commercial bank is incorrect. Mr. Geilfuss says the bank will pay a dividend in November, and will resume soon afterward.
17.
October 10, 1893
Rock Island Daily Argus
Rock Island, IL
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ABBREVIATED TELEGRAMS. Franklin Simmons, the American sculptor, has about completed two statues in his studio at Rome. One is the model for John A. Logan's equestrian statue and the other a marble statue of General Grant. This latter will be placed in statuai hall in the Capitol. When William Hammer, of Peru, Ind., was assaulted by footpads at Galena, Ills., he drew a revolver, but failed in quickness; his gun was taken from him and he was seriously shot. Near Potter, Neb., Andrew Anderson attempted to reason with a man who made a practice of whipping his wife and was shot dead. The murderer, whose name is Miklund, is in jail. Robbers near Mascoutah, Ills., not only took all the money-a small amount-a farmer named Amos Carlin had about him, but deprived him entirely of sight by knocking out his single eye with a club. A British secret service officer has informed the government that the Clan-naGael has reorganized under Patrick Egan (late United States minister to Chili), as a result of the rejection of the home rule bill by the lords. The employe S of the Chesapeake, Ohio and Southwestern railway have accepted the 10 per cent. reduction in wages, and the men who went out when the reduction went into effect Oct. 1 have returned to work. Postmaster General Bissell, family and party are en route for Chicago and the World's fair. A dispatch from Rio Janeiro says the panic has subsided completely. Business is transacted freely and all the banks are open. The Cunard Steamship company will lay up the steamship Campania for a month this winter and have her altered in harmony with the plans of the Lucania. The South Baltimore works, car works company has been placed in the hands of receivers with assets of $617,000. The liabilities are said to be only $294,600. The Northwestern Miller reports the stock of wheat in private elevators of Minneapolis at 377,000 bushels, a gain over Oct. 2 of 160,000 bushels. A westbound train on the P., C., C. & St. Louis railroad struck and killed two men near South Charleston, O. One is about 55 years old and the other 27. The Huss Bros.' Manufacturing company, Cincinnati, have assigned to George Storey. Liabilities, $31,000; assets, $40,000. At Milwaukee the expectation now is that a dividend of the Plankinton bank assets will be declared by Assignee Plankington early in December. Judge Johnson has decided that the city of Milwaukee is a preferred creditor of the Marine bank, and that the county of Milwaukee is a preferred creditor of the Commercial bank. An order to that effect will be entered at once.
18.
December 28, 1893
River Falls Journal
River Falls, WI
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WISCONSIN STATE NEWS. Bank's Proposition Accepted. The Milwaukee county board accepted the proposition of the Commercial bank for the payment of the $816,000 of county-money which was tied up in the bank when it suspended. The proposition provides for the payment of $50,000 to the county when the bank resumes and $15,000 a month thereafter. The rate of interest is to be 3 per cent. It is stipulated that 85 per cent. of the creditors shall accept similar terms and the bank shall resume by January 15.
19.
March 1, 1894
Pine Bluff Daily Graphic
Pine Bluff, AR
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A BANK RESUMES. he Commercial Bank, of Milwaukee, Reopens its Doors. MILWAUKEE, WIS., March 1.-There considerable rejoicing over the l'epening today of the Commercial ank. which suspended last summer. half million new stock has been abscribed, largely by the depositors. the reorganization will eventually able the bank to make good its adebtedness dollar for dollar. With W exceptions all the depositors ve agreed to let their deposits l'eain intact for a specified period.
20.
March 1, 1894
The Providence News
Providence, RI
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BANKS REOPENING. Milwaukee Finally Recovering from the Troubles of Last Summer. By The Associated Press. MILWAUKEE, March 1. With the opening of the Commercial Bank today and the resumption of the Plankington Bank within a few days, all the Milwaukee banks, which suspended during the panie last summer, with the exception of the South Side Savings Bank, will again be in operation. The creditors of all the banks are to be paid in full under a system of time extensions for a period of two years. In the case of the South Side Bank the unpreferred creditors will receive little or nothing.
21.
March 2, 1894
Rock Island Argus
Rock Island, IL
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Milwaukee Bank Resumes. Milwuakee, March 2.-There is considerable rejoicing over the reopening of the Commercial bank, which suspended last summer. A half million of new stock has been subscribed, largely by the depositors. The reorganization will eventually enable the bank to make good its indebtedness dollar for dollar. With few exceptions all the depositors have agreed to let their deposits remain intact for alspecified period.
22.
March 8, 1894
River Falls Journal
River Falls, WI
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David W. Mackay died in Milwaukee of pneumonia after an illness of two weeks. He had been principal of the Eighth District school for ten years. William Brocken's child was scalded to death at Marengo by falling into a washtub of boiling water. Thirty-eight of the millers, grainmen and bankers of-Superior met and established a board of trade. The store at Bruce owned by P. Kopleman was closed by the sheriff and goods sold at auction. Divorced and jilted, Henry Schroeder, of Milwaukee, decided life was not worth living and hanged himself. Claimants at Ashland to Omaha reservation lands have organized into a club to push their interests. Benjamin Bixby, charged with causing the death of his wife at Glenwood, has been discharged from custody. A 5-year-old son of M. M. Porter, E prominent lumberman at Shawano, was run over and killed. The effects of the Adams Express company were shipped from Mil vaukee to Chicago, the company going out of business there. $300,000. Arthur C. Osborn and Miss Grace Cushman, a Chicago eloping couple, were married in Milwaukee. State relief for the Hurley miners has ceased and Iron county must look after its unemployed. Howard Morris and C. F. Rand, receivers of the Penokee and Gogebic mines, have been authorized to issue $800,000 in certificates. LaCrosse banks and business houses were flooded with counterfeit dollars and half dollars bearing the 1893 date. Fred Wills, of Edgerton, who was granted a divorce about two weeks ago, has remarried Mrs. Wills. The forty-sixth annual sta encampment of the Independent Order of Odd Fellows was held in Racine. The corner stone of the new $1,000,000 city hall in Milwaukee was laid in the presence of a large number. A $9,000 fire destroyed the Olson tobacco warehouse at Cambridge. Carl Jonas, lieutenant governor of the state, has been appointed consul gençral at St. Petersburg and will resign his office to accept his appointment. Curtis Mann, a resident of Waukesha county since 1858, died in Oconomowoe at the age of 79 years. In 1868 he was elected to the state senate, serving one term. Judge Bundy refused to dissolve the injunction restraining the city treasurer of Chippewa Falls from disposing of funds drawn from the Seymour bank on the day of its faiulre. Robert Fitzgerald, a woodsman, was found frozen to death near Pembine. Application to Comptroller Eckels was made for the reorganization of the defunct Plankinton bank of Milwaukee into a national bank with a capital of Steps were taken at Milwaukee by officials of the Wisconsin Central road to take the corporat on out of the receiver's hands. Jacob C. Horn, present at the Fort Dearborn massacre in Chicago and in the Black Hawk, Mexican and civil wars, died at Winneconne. C. J. Melms, of Milwaukee, jumped from a passenger train in Wyoming, having suddenly become demented, and was fatally injured. The Epworth league state convention at La Crosse elected E. W. Chafin president, A. E. Dixon vice president and F. D. Hopkins secretary. Rudolph J. Peschmann, who murdered Mrs. Anna Schums at the Cream City hotel in Milwaukee on January 12, and then set fire to the house in the hope of hiding his crime, was sentenced to life imprisonment. As the result of a quarrel Theodore Erickson shot his mother near La Crosse and then cut his own throat. Both will probably live. An unknown young man was killed by a falling tree at Arpin. Robert McBurney, of Rhinelander, was arrested on complaint of his divorced wife for murdering child two years ago. A. W. Lawrence's loss near Sturgeon Bay by the burning of his barns and eighteen horses is estimated at $11,000, or $5,450 al ove insurance. Two Swede girls are conducting a revival on the west side of Wausau. Their methods are similar to those of the Salvation Army, and it is said they accomplish much good among their countrymen. The Commercial bank of Milwaukee has resumed business with a capita.
23.
August 15, 1895
The Manitowoc Pilot
Manitowoc, WI
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THE difficulty experienced in running any institution having a multitude of stockholders is well exemplified by the present status of the Commercial Bank of Milwaukee. That bank closed its doors during the panic of 1893, but reorganized, many of the depositor taking the amount of their claims in stock. The bank paid all its debts but now has about decided to go into voluntary liquidation as the business was not satisfactory, owing to the large number of stockholders whose action dipreciated the value of the stock. The bank will be able to pay all depositors in full at once. The balance will be divided among the stockholders.
24.
September 5, 1895
Fort Worth Gazette
Fort Worth, TX
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Several bank failures are reported in the West, among them the First National, Franklin, Ohio, capital $100,000; Commerclal bank, Milwaukee, capital 834,600, voluntary Rquidation: Bowling Green bank, Bowling Green, Mo., capital $25,000; Bank of Dawn, Mo., Habilities $36,000; Dan. Head & Co., private bankers, Kenosha, Wis., capital $100,000. The Farmers and Mechanics' Insurance company, Alexandria. Va., has been placed in the hands of a receiver. Spelman Bros., fancy Goods, New York, have assigned. liabilities $250,000, and receiver applied for Hughes Steam Pump company, Cleveland, Ohio.