Manufacturers Bank - New Richmond, WI

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: *
Location: New Richmond, Wisconsin (45.123, -92.537)

Metadata

Model: gpt-5-mini
Short Digest: 0e0f3361

Response Measures

None

Description

Article (St. Paul Daily Globe, 1893-09-16) reports that John Glover of New Richmond said he had quite a run on my bank at New Richmond, called the Manufacturers' bank during the worst of the panic. No suspension, closure, or reopening is mentioned. Cause is described as a general financial scare/panic rather than bank-specific problems. OCR corrected bank name to add apostrophe for readability.

Events (1)

1. * Run

Cause: Macro News
Cause Details: Run occurred during the national financial panic/depression; described as a big scare and part of the wider panic rather than bank-specific insolvency.
Newspaper Excerpt: During the worst of the panic I had quite a run on my bank at New Richmond, called the Manufacturers' bank.
Source: newspapers

Newspaper Articles (1)

1. September 16, 1893 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, September 16, 1893

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Article Text

# WITH THE TRAVELERS. W. Dayton, of New York, senior member of Dayton & Close, the oldest manufacturers and jobbers of boys' and children's clothing in the United States, is stopping at the Ryan. He says that business has so far revived in New York that his firm and all other wholesalers of the metropolis turned their traveling men loose in the field again some days ago. The Chicago wholesalers have not yet placed their traveling men on the road, but are expected to do so soon. "We feel in New York," said he, "that it is perfectly safe to resume operations in full. All the traveling men of my firm have done exceedingly well since they started out. We have kept our factory running all through the hard times, but on a short force." John Glover, the well known lumberman and banker of New Richmond and Hudson, Wis., was in the city last evening. He said he had just written a letter to Senator Vilas, giving the exceedingly unfavorable opinion of the capitalists and substantial men of the St. Croix valley of the course pursued by the senate in the silver question. "It is simply exasperating," said Mr. Glover, "to see a lot of those senators hazarding the welfare of the nation to further their political interests. The Sherman law should be at once unconditionally repealed. "However, the prospect that it will be repealed in time has inspired a good deal of confidence, and I think I can say that the business interests of the St. Croix valley are looking up. During the worst of the panic I had quite a run on my bank at New Richmond, called the Manufacturers' bank. A peculiar feature of the run was that only small depositors engaged in it. None of the wealthy people, who had many thousands in the bank, gave me the slightest trouble. So far as I have been able to observe this has been true with all the bank runs of the country. It is evident to me that the whole financial depression is the result of a big scare arising from no good cause." H. Dhomapala, India; Z. Woguchi, Yokohama, Japan; Rev. Reneli Shibata, Tokio, Japan, who created a stir with their eloquence at the religious congress in Chicago, passed through St. Paul early yesterday morning en route to the Yellowstone park. They breakfasted at the Merchants'. At the Merchants'—C. A. Daley and wife, Fergus Falls; W. J. Barnard and wife, Seattle; Robert Whiteside, Duluth; F. Bradley, Winnipeg; A. H. Reed, Glencoe; M. Cannon, Miles City; W. C. Odell s, Chaska; Benjamin D. Smith, Maukato; J. D. Markaam, Rush City. At the Windsor—T. S. Campbell, West Superior; S. J. Nygren, West Duluth; W. W. Kinnie, Ziumbrota; J. C. Pope and wife, Mora; J. T. Bestnek, Detroit, Minu.; James Gibb, wife and daughter, Dr. Millard M. Murray, Miss L. M. Murray, San Francisco, Cal. At the Metropolitan—Mr. and Mrs. E. Fellows, Milwaukee; W. Courtney, Brainerd; Mr. and Mrs. H. M. Smith, Boston; J. W. Ester, Chicago; E. C. Duncan, Kansas City. At the Ryan—D. M. Phitten, Duluth; Mr. and Mrs. D. Sullivan, Dublin, Ireland; P. W. Campbell, T. M. Murray, W. J. Menzies, Scotland; F. W. Cole, Butte, Mont. At the Clarendon—E. L. Warren, William Smith, Detroit; M. B. Fuller, Oshkosh; Thomas Howell, F. E. Irish, Bismarck, N. D. At the Brunswick—C. E. Gunnison, Winona; P. Nelson, Bay City; William Blessing, Duluth; M. J. Reilly, Spokane.