Wisconsin Marine & Fire Insurance Company

Bank Information

Episode Type: Run Only
Bank Type: private
Start Date: December 10, 1849
Location: Milwaukee, Wisconsin (43.039, -87.906)

Metadata

Model: gpt-5-mini
Short Digest: 401d2fa4

Response Measures

Capital injected

Description

Newspaper (The Republic) reports a run on the Wisconsin Marine and Fire Insurance Company in Milwaukee (also mentions Detroit). Article (1849-12-10) describes heavy withdrawals and a crowd; no mention of suspension, reopening, or receivership. OCR shows 'Milwaukie' and 'Buffale papers' which appear to be Mississippi/printing OCR errors; corrected to Milwaukee and Buffalo contextually. Mr. Smith reportedly pledged real estate to redeem bills.

Events (1)

1. December 10, 1849 Run

Cause: Rumor Or Misinformation
Cause Details: Contemporary papers reference excitement and 'buffalo papers' reports; no explicit insolvency given and coverage implies panic/rumors about redemption of the company's bills.
Measures: Mr. Smith reportedly pledged one and a half millions of real estate for the redemption of the bills.
Newspaper Excerpt: Great excitement existed in Milwaukie ... in consequence of a run on the Wisconsin Fire Marine and Insurance Company. The Bank in Milwaukie was surrounded by a large crowd of excited bill-holders.
Source: newspapers

Newspaper Articles (1)

1. December 10, 1849 The Republic Washington, DC

Article from The Republic, December 10, 1849

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Article Text

WISCONSIN MARINE AND FIRE INSURANCE COMPANY. Great excitementexisted in Milwaukie and Detroit on Saturday last, in consequence of a run on the Wisconsin Fire Marine and Insurance Company. The Bank in Milwaukie was surrounded by a large crowd of excited bill-holders. On Its circulation is reported to be $1,400,000. Monday the friends in Milwaukie and Chicago were sanguine they would be able to weather the storm. Mr. Smith, it was said, had pledged one and a half millions of real estate for the redemption of the bills.-Buffale papers.