German Exchange Bank - Milwaukee, WI

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 1, 1901*
Location: Milwaukee, Wisconsin (43.039, -87.906)

Metadata

Model: gpt-5-mini
Short Digest: 6aca826f

Response Measures

None

Description

Article (Mineral Point Tribune, 1901-10-03) reports the German Exchange Bank of Milwaukee has failed and a trustee in bankruptcy was appointed; a state court receiver (R. F. Connell) currently holds possession. No run is mentioned. Classified as suspension leading to closure/receivership.

Events (2)

1. October 1, 1901* Receivership

Newspaper Excerpt: R. F. Connell, the receiver appointed by the state court, will continue to hold possession until the circuit court passes upon the case and decides that the federal court can intervene.
Source: newspapers

2. October 1, 1901* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank failure leading to bankruptcy and appointment of a trustee and state-court receiver.
Newspaper Excerpt: John C. Kleist, recently appointed trustee in bankruptcy in the matter of the failure of the German Exchange bank, of Milwaukee, has not yet obtained possession of the bank property. R. F. Connell, the receiver appointed by the state court, will continue to hold possession until the circuit court passes upon the case and decides that the federal court can intervene.
Source: newspapers

Newspaper Articles (1)

1. October 3, 1901 Mineral Point Tribune Mineral Point, WI

Article from Mineral Point Tribune, October 3, 1901

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Article Text

Wisconsin in Brief. Work has commenced on the library building at West Superior, and there is a good deal of building work going on at the present time. Henry P. Peterson of West Superior has been appointed factory inspector for that district in place of Roy J. Nye, who resigned. The new appointee is editor of the Superior Tidende, a Scandinavian organ of that city. The valuation of property in Wisconsin is more than doubled by the assessment fixed by the state board of assessment of property at its full value. The total valuation of property in the state, real and personal, is fixed at $1,436,284,000, which is an increase of more than $800,000,000 over last year, when the total assessment was $630,000,000. This year's valuation of real estate is $1,186,349,139, of personal property $249,934,861. The West Superior street car company is figuring on being able to run cars on the new broad gauge tracks to the East end by the first of the week. The company has several hundred men at work and has the tracks laid almost to the East end. It will take but a comparatively short time for the tracks to be ballasted and straightened up so that the cars may be run without waiting for the paving to be completed. In the big launch races held in connection with the interstate fair at LaCrosse, the launch Otto, won with an exciting finish before 3,000 people; time 29:30. The Otto had a handicap of 6:30 and overcame the handicap'1 minute 50 seconds. Summaries: (1) Otto, 39:30: (2) Cutter, 45:35; (3) Copeland, (6:35; (4) Green Island, 47:03; (5) Withee, 47:05; (6) Salzer, 48:07. John C. Kleist, recently appointed trustee in bankruptcy in the matter of the failure of the German Exchange bank, of Milwaukee, has not yet obtained possession of the bank property. R. F. Connell, the receiver appointed by the state court, will continue to hold possession until the circuit court passes upon the case and decides that the federal court can intervene.