22802. First National Bank (Mondovi, WI)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
5779
Charter Number
5779
Start Date
October 1, 1931
Location
Mondovi, Wisconsin (44.568, -91.671)

Metadata

Model
gpt-5-mini
Short Digest
f5cbb9ce

Response Measures

Full suspension, Books examined

Description

Multiple contemporaneous articles (Oct 3, 1931) report a heavy run on the First National Bank of Mondovi that began after two Eau Claire banks closed; the board closed the bank and a federal (national) bank examiner took charge. Articles mention a three-day run prior to closing and indicate the bank was taken over by an examiner (closure/receivership process).

Events (4)

1. April 17, 1901 Chartered
Source
historical_nic
2. October 1, 1931 Run
Cause
Local Banks
Cause Details
Heavy withdrawals and a three-day run that began after two banks in Eau Claire closed two weeks earlier.
Measures
Board action to close the bank following heavy withdrawals; subsequently a national bank examiner placed in charge.
Newspaper Excerpt
closed today as the result of a heavy run which started after two Eau Claire banks closed two weeks ago.
Source
newspapers
3. October 3, 1931 Other
Newspaper Excerpt
A national bank examiner was placed in charge of the institution today and a check-up of the assets was begun.
Source
newspapers
4. October 3, 1931 Suspension
Cause
Local Banks
Cause Details
Bank was closed by directors following a heavy run triggered by prior closures of two Eau Claire banks; a federal examiner assumed control (indicating formal suspension/closing).
Newspaper Excerpt
The First National Bank of Mondovi ... closed today ... A national bank examiner took charge.
Source
newspapers

Newspaper Articles (9)

Article from Beaver Dam Daily Citizen, October 3, 1931

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Clubs and Lodges MONDAY Meeting of the Young People's Society St. Stephen's Lutheran Church Monday evening at the church hall. The first meeting of the Madison School Mothers' Club will be held Monday evening, October 5. at 7:30 Regular meeting of the Young Women's Missionary Society of the Methodist church at the home of Miss Anne Vervloet, 104 Jackson Monday evening Regular meeting for the Daughters of Isabella at the K of hall Monday evening Election of The first meeting of the Beaver Dam Women's Club this year will be held at the Hotel Rogers, Monday afternoon at :00 o'clock Miss Ella M. Hanawalp of Milwaukee Downer will be the The monthly meeting of the Ladies Auxiliary to the American Legion will be held the "dugout" Monday at 7:30 o'clock. Installation of officers. TUESDAY The Senior Luther League of the First Lutheran church will meet at the Parish Hall, Tuesday evening at o'clock. Regular gof the Fraternal Order of Eagles at the Eagle Hall, Tuesday evening. Meeting of the Beulah Rebekah Lodge at the Odd Fellow's Hall, Tuesday evening. Thursday cal. The first meeting of the Grace Presbyterian Men's club will be held Tuesday at 11. Dinner and meeting H. of Columbus will the speak The women St. Patrick's congregation will entertain an evening of ca in the Parish Hall, Tuesday ening The Christian Mothers' Society of St. Peter's church will meet Tuesday evening at 8:00 o'clock in the parish hall. WEDNESDAY An ice cream social will be held at the Crystal Creek school. 1½ miles east of Beaver Dam, Wednesday evening. The Group B Ladies Aid Society of the Methodist church will meet Wednesday afternoon at the home of Mrs. R. F. Kothlow, 113 North Lincoln avenue, 2:30 o'clock St. Agnes Guild of St. Mark's church will meet at the home of Mrs. Burtis, 110 West Third street, at 2:30 The Grace Presbyterian Guild will hold its regular monthly meeting the church parlors, Wednesday at p. m. The entertainment committee is composed of Mesdames R. R. McKinstry, chairman, A. Hammond, W. D. McKinstry, B. C. Hopkins, Fred Dusell, Fred Swan, E. Williams, A. W. Lueck, and A. A. Hoyer. The Royal Neighbors will sponsor rummage sale at the Woodman hall The Women's Union of the First Baptist church will meet at the home of Mrs. Fischer Juneau Wednesday afternoon. Hostesses: Mrs. Fischer. Mrs. Webb and Mrs. Ernest Taylor. "Baptists in Burma, chapter Mrs. LaRue: devotionals. Mrs. Jillson. All members are to meet at the church at 2:30, where transportation will be arranged. Meeting of the George Leland Edgerton Auxiliary in the Veterans' at the city hall Wednesday night. THURSDAY The Ladies Aid Society of Zion Evangelical church will meet with Mrs. Louis Ebert. 323 Grove St., Thursday at 3:00 o'clock. Meeting of the Beaver Pioneers at the Y. M. C. A., Thursday Regular meeting of the Beaver Dam Lodge No. 117. O. O. F. at the hall, Thursday evening. The Teacher's Association of the Wilson School will meet Thursday, the school. The Ladies Aid Society of St. Stephen's Lutheran Church will meet at the church hall, Thursday afternoon, Oct. 8. FRIDAY Regular meeting of the Royal Neighbors at the Woodman Hall, Friday evening. The Juvenile Royal Neighbors will meet Friday at the Woodman Hall. BANK CLOSED MONDOVI, Wis.-The First National Bank of Mondovi, capitalized at $500,000, closed today as the result of a heavy run which started after two Bau Claire banks closed two weeks ago. A national bank examiner took charge. The Mondovi bank has deposits nearly $1,000,000. Schuyler G. Gilman is president.


Article from The Waukesha County Freeman, October 3, 1931

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Mondovi Bank Closes After Heavy Run MONDOVI, First tional bank of Mondovi, capitalized at $500,000, closed today as the result heavy run which started after two Eau Claire banks closed weeks ago. National bank examiner took charge. The Mondovi bank has nearly $1,000,000. Schuyler Gilman


Article from Wausau Daily Herald, October 3, 1931

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Bank Examiner Takes Over Reins of Bank in Mondovi Mondovl Oct. First National bank Mondovi failed open its doors this national bank took charge the said that there been heavy the Mondovi bank since banks Eau Claire closed.


Article from Wisconsin State Journal, October 3, 1931

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First National Bank of Mondovi is Closed Wis. First National bank of Mondovi, capitalized at $500,000, closed today as the result heavy run which started after two Eau Claire banks closed two weeks ago. national examiner took charge. The Mondovi bank has deposits of nearly $1,000,000. Schuyler G. Gilman is president.


Article from The Capital Times, October 3, 1931

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Mondovi National Bank Closed Following Run MONDOVI. First National bank of Mondovi failed to open its doors this morning and national bank took charge of the institution. Officials said that there has been heavy run on the Mondovi bank since two banks in Eau Claire were closed two weeks ago. Gillman is president of the Mondovi National bank. It capitalized at $50,000 and when its last statement issued its deposits totaled about $900,000.


Article from Leader-Telegram, October 4, 1931

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News of Northwest Wisconsin 1ST NATIONAL BANK CLOSES AT MONDOVI Action of Directors Follows ThreeDay Run MONDOVI, Wis., Oct. 3-(Special) -The First National Bank of Mondovi, founded in 1900 and the oldes: bank in Buffalo county, failed to open its doors this morning as the result of action taken last night by the board of directors. A federal bank examiner was placed in charge of the institution today and a check-up of the assets was begun. The action of the board of directors was taken following heavy three-day run on the bank. There had been, it was stated. a steady withdrawal of deposits ever since the closing of the two banks at Eau Claire on Sept. 21, but it was only in the past few days that withdrawals took on the aspects of a run. Schuyler G. Gilman was president of the bank. which was capitalized at $50,000. with a surplus of $10,000 and at the time of its closing had deposits of $608,000. During the war the deposits were more than a million dollars. and months back the deposits totaled around $900.000. Other officers of the bank are: W. H. Church. vice-president: D A. Whelan, cashier: Joseph Silver ness, Oscar F. Tanz and R. B Ful ler. assistant cashiers. Mondovi is left with one other bank, the Mondovi State bank. with a capitalization of $25,000. It is reported to be in excellent condition The Rev. L. E. Murphy motored with his parents, Mr. and Mrs. W R. Murphy, to St. Paul Thursday, from where they continued their journey by train to their home at Ashland, Mo. Mrs. John Kurz is confined at the Sacred Heart hospital, Eau Claire, following an operation. Mrs. H. C. Crawford and Miss Margaret Crawford. Cooperstown, Pa., arrived Wednesday to visit short time with Mrs. Crawford's brother, H. M. Orlady and family. Mr. and Mrs. Herman Stay Mondovi. visited relatives in Durand Wednesday Mrs. W. F. Gordon. who has been spending two weeks with her son, W. E. Gordon and family. returned to her home at La Crosse Mrs. Lynn Topliss, Fond du Lac. spent several days with her mother. Mrs. A. W. Hoeser. who is ill at the Schulberg hospital. It is expected to be some time before the will render its decision in the matter and unless the commission decides in favor of the company it is expected that they will appeal to the courts to legalize the purchase of these two exchanges. Mr. Mathews was assisted by Theo Kronshage. Jr., chairman of the commission, and the testimony was taken by Mrs. Minnie Frey. of the commission. The following witnesses were called: Mrs. Mathilda Kloety, Charles Schilke and O H. Settingsgaard of Whitehall: J L. Christy, Arcadia. general manager of the Community Telephone Co.: A. T Vanimann. Black River Falls, general manager of the Community Telephone Co., and Robert Rieser of the firm of Olin and Butler of Madison, attorney for the company.


Article from Times Press, October 9, 1931

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NEIGHBORING NEWS PORT Hales announced resignation Ozaukee county tural post he has held for agent, near The resignation will become effective in 60 days. Henry Luck, chief the fire for years, died Tuesday at his home city following weeks' illness to He had been in failing health for five years. Henderson, 19, Waukesha, was found hanging from door the Woodstock jail. He insane while returning from Chicago Sunday and was confined awaiting deputies from Elkhorn. FOND DU LAC Injuries tained Friday while work the Fond du Table plant fatal to bert Sunday. The young was piece of wood from a saw, piercing his stomach. of Police Charles for 37 years member of the department, has resigned his position and will retire on Dec. 1931. Chief Pieritz appointed member Water police department on August 1894. FORT ATKINSON Frank Edwards, prominent and mayor, died denly at his home here Saturday. He preparing to go to his when stricken. He was president the Coe, Converse Edwards which he became associated with 50 years ago. Powers was suffering from severe burns Monday after an explosion his home that raised bungalow from its foundation and blew the brick walls three Police said on 100 gallon still in the basement exploded attempted to light gas burner. Lehmann, brothof Sheriff Henry Lehmann Dodge county, died in Coulee, Dak., this week, according to message received here. He years of age. father, Henry Lehmann, resides in Juneau. His The funeral was held in Coulee. First National Bank Mondovi, at closed Saturday the sult of heavy run which started after Eau Claire banks closed two weeks ago. national bank took charge. Mondovi bank has deposits of nearly BEAVER the meeting of the Common Council Tuesday evening, resolution by committee on finance providing for salary cent for all city employees drawing $100 The that the salary cuts be effective Dec. 1931. large motor property of the Oshkosh Motor Co., was destroyed by Saturday when burst into flame on Highway 26, about four miles north of this city The fire believed have started when the gasoline feed line broke. few seconds the front of the machine mass of fire which spread quickly rest of the truck was without cargo at the time. late Saturday raided store of Edw. Son, Burnett. and made their escape at $800. is believed that the burglary before the heavy rainfall of early Sunday morning. Entrance gained by forcing window at the rear the building The goods were then removed and were apparently carried to truck which had been parked nearby. loot consisted largely of goods and included rifles and shotguns, radio, flashlight, knives, silverware, etc.


Article from The Hartford Times, October 9, 1931

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NEIGHBORING NEWS PORT WASHINGTON Hales announced his tion as Ozaukee county tural agent, post held for near 14 The effective in 60 days. Henry Luck, chief of the fire department Waupun for years, died his home that Tuesday city following five weeks' illness heart trouble. He had been due in failing health for five years. Henderson, was found hanging door the Woodstock from He became insane while returning from Chicago Sunday was awaiting deputies from Elk. horn. FOND DU LAC Injuries susFriday while in the du Table plant fatal to Albert Hoffmann, 34, occurred Sunday The young man hurt when plece wood from saw, piercing his stomach. of Police Charles H. for 37 years member of the department, has resigned his position and retire on Dec. 31, 1931. Chief Pieritz was appointed member the Waterpolice department on August FORT ATKINSON Frank Edwards, 76. prominent and died man denly his home here Saturday He preparing to his fice stricken He dent the Coe, Converse Edwards which he became associated 50 years ago Powers was suffering from severe burns Monday after an explosion his home that raised his bungalow from its foundation and blew out the brick walls three sides. Police said 100 gallon in the basement exploded attempted to light gas burner. Lehmann, brothSheriff Henry county, died in Coulee, Dak., to received years father, Henry Lehmann, resides Juneau. His and sons also The funeral was held Coulee. First National Bank Mondovi, capitalized $500,000. closed Saturday as the result of heavy run which started after two Eau banks closed ago. national bank charge. Mondovi bank has deposits of nearly $1,000,000. meeting the Common Council Tuesday evening. by the committee finance for salary cut of ten for $100 per month introduced The had provided that the salary cuts effective Dec. 1931. large motor truck the tor was practically destroyed fire Saturday forenoon when burst flame Highway 26, about four miles north of this city The fire believed to have started when the gasoline feed line broke In few seconds the front of machine fire which spread quickly the rest the -truck was without cargo at the time. late Satur day raided the store of Son, Burnett. made their escape $800. believed that the burglary before the heavy rainfall early Sunday morning. Entrance was gained forcing window at the rear the The goods were then removed and were apparently carried to which had been parked nearby. The loot consisted largely of goods and included rifles shotguns. ammunition, radio. flashlight, knives, silverware, etc.


Article from Grant County Herald, October 14, 1931

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NEIGHBORHOOD BREVITIES AND NEARBY NOTES A Gamble store will be opened in Platteville this month. Frank Weidenfeller of Mineral Pt. died Monday of last week. The Platteville city council adopted budget with a total of $53,170, which is $13,815 less than a year ago. Mineral Point merchants will close their stores evenings during the winter months. Ray Crane, Monroe, was fined $5/ for running by a stop signal and narrowly missing Traffic Officer Emil Boesch. Gladys Riley, daughter of Mr. and Mrs. Will Riley of Cuba City and Walter Kingsley of Dubuque were married Tuesday at St. Rose church, Cuba City. While Tom Nesbit, Richland Center, was trucking cattle to the Viroqua fair his car skidded into a ditch and three prize Ayrshire calves were thrown out. One of the calves was SO badly hurt that it had to be killed. Helen Grondahl, 14, Mt. Horeb, died Monday night from injuries received when she was hurled from a car that collided with a horse on the road near Daleyville. The girl was riding home from school with her brother. Volunteer firemen are protected under the Wisconsin workmen's com- pensation laws from the time they leave their home or place of business for a fire until the reach home again after the fire, so the Wisconsin industrial commission has ruled. While Mr. and Mrs. Ray Hendrickson of Mineral Point were busy in their corn field, their three-year-old daughter, Elaine, climbed under the wagon and when the horses stepped forward a wheel passed over the child's leg, breaking the bone. Financial and legal factors have been completed and the building of the Savanna-Sabula highway bridge will start soon according to Oliver Matson, president of the Minneapolis Bridge Company. Enough stock has been sold to justify breaking ground. Caught by one foot in trap door and hanging face downward for 14 hours was the experiénce of James Hughes, Galena, one day last week. Hughes was discovered by a brother and rushed to a hospital where the leg was amputated. He will recover. Peter Everson, 72, Argyle farmer, escapjed death from an attack by a bull Sunday evening by crawling under a fence, after he received several broken ribs, a bruised neck, and a severe shaking up. He was on his way to the pasture for the cows when The Schoonover & Voegeli garage, Monticello, was entered last Thursday morning and tires and accessories valued at $200 taken. It is the fourth time in seven years that thieves have broken into the garage. A reward of $25 has been offered for the arrest of the thieves. A runaway horse rounded a bend in the road near Dodgeville Friday evening and crashed into the front of a Nash car driven by Blair Sherrick. The animal rolled up on the car hood, put two hoofs through the windshield and then rolled off and went on its way uninjured. The car was badly damaged. A Chevrolet car containing Mr. and Mrs. Chris. Plank, Merlyn and Bernice Draves and George Plank overturned in a road near Dodgeville and landed with the wheels in the air. All five occupants crawled out unhurt. The Chevrolet was caught on the left wheel by a passing Buick, causing it to run into a bank and turn over. Deposits of good quality white onyx have been unearthed on the Walter Brown farm, 11 miles northwest of Richland Center, and Sylvanus & Co. of Milwaukee have taken a lease on the place and will open a quarry It is expected that the project will pay well if the deposits are extensive enough to warrant major operations. The onyx was SO plentiful on the farm that Mr. Brown used it for his cellar steps, not realizing that he was walking on a stone used to embellish kings' palaces. A running gun battle in the streets of Viroqua Sunday night ended with the injury of one man and the escape of another. T. C. Silbaugh, the fugitive, is charged with the stealing of an automobile. He returned to his home Sunday night and ordered his wife to go away with him. Mrs. Silbaugh called the sheriff. Silbaugh and Cal. Cox, a pal, were in the house when the sheriff arrived. The two men fled in an automobile with the sheriff in pursuit and firing at them. One bullet struck Cox in the leg. Silbaugh escaped on foot. Janesville cut its school budget $5,760. The total is $304,790. More than 700 married men registered as being out of work at Oshkosh, Friday. Three robbers held up the office of the Household Finance Co. at Beloit Monday noon and escaped with $200. Police Captain Peter D. Champion of Janesville will retire on a pension Nov. 1, after 26 years of service, the longest time ever served by a Janesville policeman. A heavy run on the First National bank of Mondovi, started after the closing of two Eau Claire banks two weeks ago, caused it to close its doors Saturday morning. A pickpocket workeing the Dodge county fair at Beaver Dam took a police badge from the inside coat pocket of Deputy Sheriff Edward H. Schwan. Officer Schwan recovered his badge when another officer arrested the thief. A drop of more than 50 per cent in hunting licenses issued in Rock county, below the 1930 figures, has been reported. The 1931 number was 1925, while this year only 935 were issued. The figures in various counties over the state, all show sharp declines. Robert Peterson, 16, Rhinelander, died Sunday from a bullet wound received the day before while he was playing cowboy with Burt Sturtz, a friend. The boys were riding ponies in a pasture and both carried rifles. Sturtz's gun discharged, the bullet striking Peterson. A woman's body, identified as that of Miss Violet Livingstone, Rockford, III., was found burned early Tuesday in cottage on Rock River at Newville. Sheriff Fessendon is investigating the possibility of a slaying, as a car was believed to have left the scene about midnight. Three robbers held up the bank at Thiensville, in Ozaukee county, Tuesday morning and escaped with $2,500. The alarm was sounded while the robbers were in the bank and as they fled a hotel employe fired at them but missed. The bandits returned an inffective fire as they sped out of town. Inmates of the Green Bay reformatory are kept busy on many jobs, the latest being the erection of hothouse, 25x160 feet. The building will be used to propagate tomato and cabbage plants for the reformatory garden. During the winter the building will be used for flowering plants that adorn the institution's lawn in the summer. Henry and John Wagner, brothers, were slugged and robbed of $50 by four masked men Friday on their farm near Fond du Lac. Angered at finding so little money the robbers beat the brothers insensible and bound them. A sister, who was not molested, released the men. A hidden wallet containing money and valuable papers was missed by the robbers. Methods of handling Wisconsin's crops for threshing have changed in recent years. Years ago most of the grain was stacked or put in barns before being threshed but today 70% of It is threshed direct from the shocks and about 30% from stacks and barns. The combine used SO extensively in the west has hardly obtained a foothold in Wisconsin, the size of the plots probably not warranting the method. Nothing is impossible when the mind-the commander of your bodythrows off those first whisperings of fatigue and cries "Carry Equality may not always be possible, but brotherhood always is.American Magazine. A brickbat will carry further than a bouquet.