22758. Plankington bank (Milwaukee, WI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 19, 1894
Location
Milwaukee, Wisconsin (43.039, -87.906)

Metadata

Model
gpt-5-mini
Short Digest
7c4d8c8c

Response Measures

None

Description

Articles report insolvency and arrests of the bank's president and vice president (Sept 1894) and later a receiver paying dividends (Apr 1895). There is no mention of a depositor run; the bank was insolvent, placed in receivership and paying dividends, consistent with a suspension that led to permanent closure/receivership.

Events (3)
1. September 19, 1894 Other
Newspaper Excerpt
Frederick T. Day and William Plankington, president and vice president of the Plankington bank of Milwaukee, were arrested on charges of receiving deposits when the institution was insolvent.
Source
newspapers
2. September 19, 1894 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was insolvent; officers arrested for receiving deposits while insolvent.
Newspaper Excerpt
receiving deposits when the institution was insolvent
Source
newspapers
3. April 10, 1895 Receivership
Newspaper Excerpt
A Receiver Pays a Dividend. MILWAUKEE, April 10.-The payment of the first dividend by the receiver for the stockholders of the Plankington bank and the third dividend by the bank was paid today.
Source
newspapers

Newspaper Articles (2)
1. September 19, 1894 Evening Journal Wilmington, DE
Article from Evening Journal, September 19, 1894

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Article Text

TELEGRAPHIC BRIEFS. Mayor Bemis of Omaha is Oil trial on charges of malfeasance. A. M. E. Bishop Turner exhorts his brethren to emigrate to Liberia. The thirty-second anniversary of Antietam was celebrated at Hagerstown, Md. The boycott against the Union Pacific by western roads will be withdrawn Oct. 1. At a recent dinner in Hungary a young girl died while under the influence of hypnotism. Five boys whose ages range from 9 to 15 years have confessed to burglary in Springfield, Mo. Twenty people have been arrested in Valparaiso, charged with conspiracy against the Chilian government. Colonel Owens has returned thanks to the women of Kentucky for aiding him in the fight against Breckinridge. Lieutenant Wilner, the naval officer in charge of the Carnegie armor mill during the perpetration of the frauds, has been suspended. Frederick T. Day and William Plankington. president and vice president of the Plankington bank of Milwaukee, were arrested on charges of receiving deposits when the institution was insolvent.

2. April 12, 1895 The Cambria Freeman Ebensburg, PA
Article from The Cambria Freeman, April 12, 1895

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Article Text

A Receiver Pays a Dividend. MILWAUKEE, April 10.-The payment of the first dividend by the receiver for the stockholders of the Plankington bank and the third dividend by the bank was paid today. The payment was a 10 per cent dividend upon the money still owing depositors by the bank. which is something like $700,000 of the original debt of $1,100,000.