22855. Peoples State Bank (Prairie du Chien, WI)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
April 24, 1930
Location
Prairie du Chien, Wisconsin (43.052, -91.141)

Metadata

Model
gpt-5-mini
Short Digest
fcfbc5b7

Response Measures

Capital injected, Full suspension

Description

Multiple April 24, 1930 articles report a heavy run withdrawing ~$100,000 that caused the People's/Peoples State Bank to close (suspend). Newspaper items in Oct 1930 report the bank reopened with new capital. Cause attributed to weakened depositor morale and failures of nearby banks (local contagion). OCR variants corrected (People's/Peoples).

Events (3)

1. April 24, 1930 Run
Cause
Local Banks
Cause Details
Heavy withdrawals (~$100,000) driven by weakened depositor morale and recent failures of a number of nearby banks.
Measures
Bank closed/suspended operations (doors closed) after the run; no special emergency measures described.
Newspaper Excerpt
As the result of $100,000 deposits being withdrawn during the last week, the People's State Bank of Prairie du Chien closed its doors today. Officers said that the heavy run was believed to have been due to weakened morale of depositors.
Source
newspapers
2. April 24, 1930 Suspension
Cause
Local Banks
Cause Details
Suspension/closure was the direct result of the heavy run and the regional wave of nearby bank failures weakening depositor confidence.
Newspaper Excerpt
the People's State Bank of Prairie du Chien closed its doors Thursday
Source
newspapers
3. October 20, 1930 Reopening
Newspaper Excerpt
The Peoples State bank of Prairie Chien ... reopened today. The bank has new officers and capital of $40,000. ... This suspended April 24 and reopens with ample capital and strong position to handle business.
Source
newspapers

Newspaper Articles (16)

Article from The Sheboygan Press, April 24, 1930

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EXTRA! Withdrawals Close Another Bank In State Prairie du Chien, As result of $100,000 deposits being withdrawn during last week, the People's State Bank Prairie du Chien closed its doors today. Officers said that the heavy run was to have been to weakened morale of depositors. number other banks in nearby territory failed within the last two weeks. Less than a week ago the bank had deposits of $300,000.


Article from The Post-Crescent, April 24, 1930

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BADGER BANK Pairie du sult deposits being drawn during last the Peoples' State bank Prairie du Chien closed its This the fifteenth bank failure in Wiscon Officers said that the heavy run believed number banks nearby territory failed within the last the bank had deposits of $300,000.


Article from The Journal Times, April 24, 1930

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Prairie du Chien Bank Closes; 'Run' Blamed PRAIRIE DU CHIEN. Wis., April the result of $100,000 deposits being withdrawn during the last week, the People's State bank of Prairie du Chien closed its doors today. This is the fifteenth bank failure in Wisconsin since Jan. Officers said that the heavy run was believed to been due to weakened morale of depositors. number of other banks in nearby territory falled within the last two weeks. Less than a week ago the bank had deposits of $300,000.


Article from The Capital Times, April 24, 1930

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'Run' Closes Prairie Du Chien Bank PRAIRIE DU CHIEN, result of $100,000 deposits being the last the withdrawn during Peoples' State bank of Prairic du Chien clased its doors today. This is the 20th bank in Officers said that the heavy run was been due to weakened believed to have morale of of other banks failed within in nearby territory last two weeks. Less than ago, the bank of $300,000.


Article from The La Crosse Tribune, April 24, 1930

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DEPOSITORS RUN AND BANK AT PRAIRIE CLOSES PRAIRIE DU CHIEN, the result of deposits being during the last the People's State bank of Prairie du Chien closed doors Thursday. This fifteenth bank failure in that the heavy run been of number other in nearby territory failed within the last two weeks. than week ago the bank had deposits of


Article from The Capital Times, April 24, 1930

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'Run' Closes Prairie Du Chien Bank PRAIRIE DU CHIEN, result deposits being withdrawn during the last the Peoples' State bank of Prairie du Chien its doors today. This is the 20th failure in Wisconsin Officers said that the heavy run was have been due to weakened morale of depositors. number of other nearby territory failed within than the bank had ago, of


Article from Two Rivers Reporter, April 25, 1930

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ANOTHER BANK CLOSES DOORS PRAIRIE DU CHEIN, Wis., (AP)As the result of $100,000 deposits being withdrawn during the last week, the People's State Bank of Prairie du Chein closed its doors Thursday Officers said that the heavy run was believed to have been due to weakened morale of depositors. A number of other banks in nearby territory failed within the last two weeks. Less than week ago, the bank had deposits of $300,000. Want ads buy, sell and exchange.


Article from Stevens Point Journal, April 25, 1930

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Heavy Run Closes Prairie du Chien Bank Chien, April the result of deposits being withdrawn during the last the Peoples' State bank Prairie du Chien closed doors Thursday This is the 15th bank failure Officers said that the heavy run was believed have been due weakened morale number other banks in nearby territory failed within the last two weeks. than week the deposits of


Article from Leader-Telegram, April 25, 1930

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State Bank Closed at Prairie du Chien PRAIRIE DU CHIEN, Wis., April 24-As the result of $100,000 deposits being withdrawn during the last week, the Peoples' State Bank of Prairie du Chien closed its doors today. This is the 15th bank failure n Wisconsin. Officrs said that the heavy run


Article from The Bloomington Record, May 14, 1930

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"ROUND ABOUT" The M. E. church society at Dodgevill held its ninetieth anniversary, May 3 and 4. The C. M. St. P. & P. freight salvage sale will be held at Prairie du Chien, May 28 and 29. The Gays Mills orchards are in bloom and many tourists have driven that way to see them. The appointment of Richard A. Goodell as postmaster at Platteville, for four years, was confirmed by the senate. W. E. Tracy of Platteville is erecting a new $75,000 theatre building, which will have two stores in each corner with the theatre between. After some expensive litigation the Muscoda bridge case was settled out of court, the bridge company accepting $1,850 for their old bridge property and right of way. Women's clubs and public spirited citizens generally of Platteville are planning swimming pool in Valley View park. The project, when completed will cost $20,000. The Potosi State Bank has joined the Wisconsin Bank Shares Corporation. Banking is different than most other business, and possibly group banking will have some advantages. The city of Prairie du Chien has all of its cash $36,000, tied up in the People's State bank, which suspended recently. So one of the first things the new Mayor and council did was to vote to borrow $10,000. The Whig Community club in the Platteville neighborhood, adopted resolutions endorsing Sheriff Greer's action in the recent accidental shooting, and pledged their unanimous support. They sent copies of the resolution to Sheriff Greer.


Article from The Boscobel Dial, May 21, 1930

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Note Book Sketches -LaFarge is threatened with an epidemic of scarlet fever. Miss Virginia Allen visited Madison friends first of the week. -Mrs. A. W. Scott returned yesterday from a visit at Delavan. Messrs. Carl and Harry Johnson spent the week-end in Milwaukee. -Gus Baumeister was a passenger to Madison on the morning train yesterday. Mrs. Gus Baumeister and son Howard were in Madison on business Monday. Willis Steinhofer of Madison greeted friends here atter part of last week. -1. Litowsky and family spent a recent Sunday with their daughter, Sarah, in Madison. -Claire Payne and family of Madison were visitors at the parental B. F. Payne home over Sunday. -Mrs. Theo. Spiegelberg and her mother, Mrs. J. Webster were Spring Green visitors Thursday. -A number of Kiwanians and ladies will attend an inter-club meeting at Pra. du Chien tomorrow evening. -Ralph Scheinpflug of New York was a welcome guest of his mother and other home folks a few days the past week. Miss Marion Johnson came home from Milwaukee for a short visit firste of the week, accompanied by her friend, Miss Catherine Corcoran of that city. -Muscoda Progressive: Charles Kratochwill returned home last Friday from a hospital at Madison. He is feeling better but will necessarily have to take things easy for a time. The city of Pra. du Chien has all of its cash, $36,000, tied up in the People's State bank, which suspended recently. So one of the first things the new mayor and council did was to vote to borrow $10,000. -Mr. and Mrs. R. J. Morrison, Jr., were in Madison Sunday where they attended the wedding of Miss Mary L. Schulz of that city and F. Gerald Phillips of Albany, N. Y. The bride is a sister of Mrs. Morrison. The newlyweds will reside in Albany. -Spring Green News: Allan 01son, W. Dunbar and son Donald drove to Boscobel Sunday. Mr. OIson witnessed the ball game between Boscobel and Fennimore and visited at the home of his 'son Stanley and family. Mr. Dunbar and Donnie drove to Wauzeka to see his father and mother. C. Admeyer, advance agent of Barnett Bros. circus, was in Boscobel last Wednesday last making arrangements for the appearance of the show at North Side park, Boscobel, on Monday, June 2nd. The circus travels overland, using fifty 1/2 ton Chevrolet trucks for transporting the equipment. It is said to be the largest overland circus in the country. -In a stiplation between the Krouskop heirs and the county board and city council of Richland Center it has been agreed that instead of erecting Lincoln "monument in the court house square at Richland Center, the sum of $20,000 will made available for enlargement and improvement of Krouskop park and $12,000 cash and securities be turned over to the Richland hospital. -James Emery and son Theodore took departure from Sacremento, Cal., May 12th and arrived in Boscobel May 20th, making the trip by automobile. Enroute they encountered plenty of snow in Utah, Nevada, Colorado and South Dakota. They state there's no state like good old Wisconsin and further that Boscobel is good enough for them. They are building a residence in Hinman's addition and will reside here permanently. -Richland county was organized 80 years ago this month. The first meeting of the board of supervisors was held in the village of Richland Center (later called Orion) on May 1st, 1850. But three townships were represented at this historic meeting. John H. Price, chairman of Buena Vista, was chosen president. E. H. Dyer, chairman of Richmond, (now Orion) and Adam Byrd, chairman of Richwood, constituted all the other members. John Rutan was chosen clerk. Cash Bros. and Taylor's shows which played here three nights last week, were favored by large and appreciative audiences at each performance, and the majority called the show as good as any that has visited Boscobel. The entire troupe was a very agreeable aggregation, and those who had any business transactions with the show people called them a first-class group. They completed the week at Soldiers Grove and this week are entertaining Richland Center folks. V. Ketner received sad news yesterday morning of the death of his mother, Mrs. Inez Ketner, which occurred at her home in Bloomington. Mrs. Ketner experienced a fall last week and as a result fractured a hip. The consequent shock was more than the average person 76 years of age could withstand. Although apparently quite bright and cheerful during the early hours Tuesday, during which time Mr. Ketner was there to comfort her, a turn for the worse came without warning. Funeral services will be held Thursday afternoon. Additional census returns trickled in this week but Boscobel city is not in the list. Four wards in the city of Platteville-the 3rd, 4th, 5th and 7th, have a count of 2,616; a change in ward boundaries has taken place since tthe census of 1920 and the loss or gain is not obtainable; Bloomington township has 622-a loss of 48; Castle Rock township shows a loss also, the count being 661 and it was 675 in 1920. The village of Wauzeka shows a gain-479 in 1920 and 519 in 1930; Ferryville village had 203 ten years ago and 266 now. Darlington's count is 1764, a loss of 34.


Article from Grant County Herald, June 4, 1930

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NEIGHBORHOOD BREVITIES AND NEARBY NOTES Mary Alice Becker, 4, daughter of an A&P manager at Center, fell from a second story window but landed on a ledge where she hung until rescued. Wilbur Richards, Dodgeville farmer, has SOW that gave birth to a freak pig. The offspring consisted of two complete pigs joined together at the right shoulders. The animal lived but a few minutes. Robt. 12, son of Mr. and Mrs. Ed. Zickerman, Dodgeville farmers, was kicked in the face and mutilated by a horse, Tuesday. The boy was found lying in the field and taken to a hospital. He will recover but his face will be scarred for life. McKinley Bros,, mining at Dodgeville, have a new shaft into a 20-inch sheet of solid jack. The mine is full of water unless and pumps are kept working constantly. Mrs. Trankle, residing with Mr. and Mrs. John Miller of near Livingston, was 93 years of age Tuesday. Relatives and friends-gathered at the house and made the occasion a gala affair. 162 head of prime Guernsey cattle were disposed of at the Vernon county uGernsey sale, Wednesday. F. O. Lowe of Petersburg, was the heaviest buyer, taking 41 head with a top of $145. The sale total came to $13,270, with an average of $81.90. Harry Bovay, the promoter who secured the franchise for the Pra. du Chien to Marquette bridge, announced Saturday that, the million dollar bond issue had been signed. Bovay says construction will start this summer and that the project will be rushed to completion. Sheriff Hinkins of Darlington, out riding Sunday night, collided with a car driven by one Louis Anderson. Anderson was arrested and placed in jail on charge of driving while intoxicated. During his first night in jail the man slashed a wrist and almost bled to death. Several thousand trout were cared for in a pond by Montfort sportsmen until they. attained size of four to six inches. The fish were then let loose in a stream known as Sevenfoot branch, near the village. The Montfort club has plan of establishing a pond on Blue river, near the Forman-Zoha farm. The death of Veteran Geo. Hodge at the age of 90, left Pra. du Chien with but one surviving veteran of the Civil war. He is Comrade C. A. Huard. Mr. Hodge was member of a New York regiment. Following the war he came west to reside in Grant county. In recent years he made his home with an adopted daughter, Mrs. Roy Koecke, of Pra. du Chien. "Taps" sounded for Comrade Hodge Sunday a week ago. Nat Cerutti, Dodgeville monument dealer, worked hard day and night to get his jobs completed by Memorial day. Upon arising one "morning last week he took a huge yawn and his jaws locked with his mouth open so that he could neither talk or swallow. physician administered an anesthetic and under the influence of the drug the jaws relaxed and Nat awoke as well as usual. As there is no classification for the nature of this disease it may be called "Monument man's jaw." May 23rd was the 52nd anniversary of the Mineral Point tornado. Jacob Miller of Boscobel died recently. He was a Civil war veteran. Robert Zickerman, 12 year old lad of Livingston, was kicked in the head by a horse. He was found lying in the field. Several stitches were required to close the cuts. The city of Pra. had du Chien had $36,000 on deposit in the Peoples State bank when it suspended. The city had to negotiate a loan of $16,000 to carry on operations. Prof. Kexel who has been teaching in the Cuba City Schools for four years has been engaged as principal of the Ridgeway School. Riley Livingston, present principal, continues his studies at the university. Mrs. Anna Bridges died Wednesday after a long illness at the home of Mrs. Llu Bridges. Funeral services were held at the Concklin Funeral Home at one o'clock Friday. Interment was made at Mineral Point.Platteville News. The Mike Grea store and dance hall and the Korth garage at Hillpoint were destroyed by fire Thursday night. The Loganville fire laddies helped to combat the blaze and two of them, Wm. Voss and Paul Roewer, received burns. The loss was $10,000. While enroute home from Union Grove to Boscobel, Friday, Mr. and Mrs. Jesse Woolley and daughter, Judith, riding in a Ford, were run into by speeding motorist. Judith received a broken collar bone and her parents were bruised. The car was wrecked. Ralph Harker of Platteville held the trout fishing record with catch of four and one-half pound fish. This record was defeated by Mr. Geasland who caught a brown of four pounds and 14 ounces. Both catches were made in a stream north of the village of Montfort. "Richland Center probably has the distinction of being the center of the elm bark industry of the United States," reports the Republican Observer. Perhaps more bark is bought and shipped from that city than from any other place in the country. The other week over a half ton was shipped to London, England. F.Y. Parfrey, the local buyer, has an order for a carload to be shipped to New York. Stockholders of the Farmers and Merchants bank of Richland Center. caught in the bank's collapse a few weeks ago, met Monday of last week and voted to reorganize. An assessment has been made and a contingent fund raised. The bank will open with a paid up capital of $50,000. The Lawrence Nelson barn in the town of Hickory Grove was struck by lightning Thursday night a week ago while Mr. Nelson was engaged in milking. The farmer used a pail of water, on hand for the calves, and put the blaze out before further damage resulted. The bolt struck in the haymow and had it not been for quick work. the whole place would have gone up in smoke. Dr. Frank Ware of Boscobel, formerly of Potosi, has been appointed as first assistant surgeon of the huge Fischer Body Corporation of Detroit, reporting to Dr. S. W. Williams, Surgeon in Chief. Dr. Ware will also be connected with the Hurley hospital at Flint and conduct private practice. Mrs. Ware's parents, Mr. and Mrs. Albert Schneider, live at Flint. Mrs. Schneider leaves June 14 for France as a Gold Star Mother. Her son, Capt. Joseph H. Schneider, is buried in the Somme cemetery. Walter Edgecomb of Boscobel died of tuberculosis at the age of 60 years. Mr. and Mrs. M. J. Banfield of Cuba City observed their sixtieth wedding anniversary Sunday, June 1. Miss Cecelia Ploesse of Iowa and Geo. Jansen of Louisberg were married Tuesday. They will make their home near Louisburg. Joseph Ryan of Darlington has been elected a delegate from the state of Wisconsin to the supreme council of the Knights of Columbus to be held in Boston, Mass. Dr. J. W. Ganshert, Monroe, went fishing in the Pecatonia river Sunday and in some manner ran the three tines of a triple hook through his ear. Ralph Sery managed to cut two of them loose but the third was imbedded so deeply he had to return to Monroe for medical aid. Hilton Wagner, 14. and Edna Lust, 14. Mt. Horeb high school pupils, were killed when the motor car they were riding in was struck by a North Western gasoline motor train near Blue Mounds village, Thursday afternoon. The children, number of others, were returning from a high school picnic on the top of Blue Mound. Two other girls and another youth were injured. The motor car the party was riding in was struck at a railroad crossing The vehicle was carried a hundred feet. Mrs. B. Bertschi of Milwaukee suffered a fractured skull Monday of last week when the Ford motor car she was riding in with her brother and his wife was struck by the Auburn car of Bradley Barrett, north of the Muscoda bridge. Mrs. Bertschi and party were traveling west on Highway 60 while Barrett and Miss Rose Walsh of Viola were going south on 80. The Auburn struck the Ford in the center and the impact threw the right rear door open and hurled Mrs. Bertschi 30 feet. She was taken to a Richland hospital and will recover.


Article from Wisconsin State Journal, October 20, 1930

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New Capital in Reopened Prairie Bank The Peoples State bank of Prairie Chien its doors today. The bank has new officers and capital of $40,000. The new officers James Fisher, Eastville. cashier: O'Neill, Prairie du Chien, president. This suspended April 24 and reopens with ample capital and strong position handle business. the officers The opening auspicious with many customers.


Article from Green Bay Press-Gazette, October 21, 1930

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Y.M.C.A Notes Arrangements are being made for about six or eight of the best checker players in Green Bay to compete in tournament against Del Carpenter, master, at the M. A. evening Carpenter will play all opponents Checker players would like against him are requested to call at the M CLASSIFIED DISPLAY 89 Wanted-Real Estate WE 20 acres buildgood Bay Bay Realty Minahan new boys club, to be known FARM with the "Bulldogs' at the Have cash last night. The club Write Box care another club up of boys from one Charter members are Ralph EdWilliam Combes Automobiles for Sale John Dale Brux, Gordon Vandenach, Leo Choles, James Russell Frechetto. Harold Frechetto, George CARS WASHED 99c Forst Eric Brown The "A" chapter. senior club will meeting M tonight to practice for to given Harry directing the young men in the The junior HI-Y and gets. special will the here tonight for regular sessions. HAWKS WINGS FAST Frank transcontinental air record arrived in Washington today completing flight Valley one eleven minutes. for average speed of 15 miles an hour. BANK IS RE-OPENED PRAIRIE DU CHIEN The People's State which susfor business Capital of the reorganized bank surplus and deposits $369,000. STATE FOR BROWN COUNTY hereby given that the term third lowing matters will application Austin village allowance deceased are by law entitled order CARLTON MERRILL Judge 1930 YOUNG & STATE WISCONSIN COUNTY COURT FOR BROWN COUNTY matter of the estate of Victor NOTICE hereby given that term Bay Jenquine of Scott in said county hereby further that and hereby further entered claims order STEENO Probate JACOBS Attorney COUNTY COURT FOR BROWN COUNTY matter the estate of Ernst that in hereby of March hereby further order Dated 18th October Probate


Article from The Oshkosh Northwestern, October 22, 1930

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SUSPENDED BANK AT THE PRAIRIE REOPENS Prairie du Chien, People's State bank, which suspendbusiness has reopened Capital the ganized bank surplus deposits


Article from The Capital Times, October 22, 1930

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Bank is Reopened At Prairie du Chien PRAIRIE DU CHIEN. Wis. The People's State bank here which suspended business in has opened for business Capital of the reorganized bank surplus and deposits