German American Bank - Milwaukee, WI

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: April 22, 1903
Location: Milwaukee, Wisconsin (43.039, -87.906)

Metadata

Model: gpt-5-mini
Short Digest: 2ae0e2f6

Response Measures

Accommodated withdrawals, Books examined

Description

Article (Apr 22, 1903) reports a slight run on German-American Bank in Milwaukee triggered by an unfounded report that it held paper of fugitive Henry Herman. Bank met all demands; examiner issued a statement finding the bank sound. No suspension or closure mentioned.

Events (1)

1. April 22, 1903 Run

Cause: Rumor Or Misinformation
Cause Details: An unfounded report that the bank held paper of fugitive Henry Herman prompted savers to demand cash; examiner later found no Herman paper.
Random Run: Yes
Random Run Snippet: unfounded report that bank held Herman's paper; examiner found none
Measures: Promptly met all demands by savings depositors; bank examiner conducted examination and issued signed statement attesting to sound condition.
Newspaper Excerpt: The German-American bank suffered a slight run yesterday afternoon based on the unfounded report that the bank held some of the paper of Henry Herman
Source: newspapers

Newspaper Articles (1)

1. April 22, 1903 The Minneapolis Journal Minneapolis, MN

Article from The Minneapolis Journal, April 22, 1903

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Article Text

WISCONSIN ASSIGNEE FOR BANK Plankinton Affairs Entrusted to the Wisconsin Fidelity Trust and Safe Deposit Company. It Succeeds Herman Who Is a Defaulter and a Fugitive From the Country. Milwaukee, Wis., April 22.-Judge Halsey of the circuit court yesterday afternoon appointed the Wisconsin Fidelity Trust and Safe Deposit company assignee of the Plankinton bank, to succeed Henry Herman, who is bankrupt and a fugitive. Thus the affairs of Herman, who is said to owe $600,000 to Milwaukeeans who trusted him implicitly, are in the courts, there to be unraveled, probably after years of strife and complications in which dozens of estates will be entangled more or less. The most important development in the argument before Judge Halsey was the statement of Attorney G. D. Vandyke that he, as the representative of the American Bonding company of Baltimore, had called upon Herman several days before be ran away and demanded possession of his books and accounts, which demand was courteously complied with. Mr. Vandyke now has the books in his charge. Suspected Something Wrong It would appear from this that the bonding company had become suspicious that all was not as it should be in the assigneeship for which it was responsible under a bond of $225,000, and that the investigation was, in fact, the cause of Herman's precipitate flight to South America. It is reported that old friends of Herman made up a purse of $1.000 and gave it to him a few days before he left the city, they knowing he would not return. Caused a Run. The German-American bank suffered a slight run yesterday afternoon based on the unfounded report that the bank held some of the paper of Henry Herman, the absent promoter. All demands by savings depositors for cash were promptly met and the bank's officials say they are ready to pay all demands that may be made. Bank Examiner Bergh made an examfnation of the bank during the day and issued a signed statement to the effect that he found the bank to be sound and in good financial condition. with not a scrap of Herman's paper in its possession.