Article Text
Wisconsin Bank Fails. Sheboygan, Wis., June 25.-The Dairymen's National Bank of Sheboygan Falls was closed today by the directors. No reason is assigned. The bank has deposits of $126,000.
22894. Dairymens National Bank (Sheboygan Falls, WI)
Bank Information
- Episode Type
- Run → Suspension → Reopening
- Bank Type
- national
- Bank ID
- 5947
- Charter Number
- 5947
- Start Date
- June 25, 1909
- Location
- Sheboygan Falls, Wisconsin (43.729, -87.811)
Metadata
- Model
- gpt-5-mini
- Short Digest
049c5bea
Response Measures
Full suspension, Books examined
Description
Directors closed/suspended the bank in late June 1909 to avert a run after reports about inability to realize on an old loan caused withdrawals. Comptroller permitted reopening on July 27, 1909. OCR variants of the name (Dairyman's/Dairymens) standardized to Dairymen's National Bank.
Events (6)
1.
August 27, 1901
Chartered
- Source
- historical_nic
2.
June 25, 1909
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- News that the bank could not realize on a large old loan (Elkhart-Plymouth traction line) prompted small depositors to withdraw funds.
- Measures
- Directors closed the bank pending arrival of a national bank examiner to avert further withdrawals.
- Newspaper Excerpt
- Reports that the bank was in difficulty because of inability to realize on an old loan caused some small depositors to withdraw their accounts.
- Source
- newspapers
3.
June 25, 1909
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Directors ordered the bank closed pending a national bank examiner after withdrawal activity prompted by inability to realize on an old loan; closure described as to 'avert run'.
- Newspaper Excerpt
- The Dairymen's National Bank of Sheboygan Falls was closed today by the directors. No reason is assigned.
- Source
- newspapers
4.
July 3, 1909
Other
- Newspaper Excerpt
- It is understood that $44,000 worth of personal notes have been given by Stedman Thomas and J. E. Thomas to many patrons of the bank instead of certificates of deposits. There is a rumor that the bank may be reopened again.
- Source
- newspapers
5.
July 27, 1909
Reopening
- Newspaper Excerpt
- The Dairyman's National Bank ... which suspended on June 25, was today directed by the Comptroller of the Currency to open its doors for general business, its capital stock now being unimpaired, and other requirements of the comptroller having been met.
- Source
- newspapers
6.
August 15, 1910
Voluntary Liquidation
- Source
- historical_nic
Newspaper Articles (9)
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Article Text
Dairymen's National Bank Fails. Sheboygan, Wis., June 25.-The Dairyman's National bank of Sheboygan Falls was closed today by the directors. No reason is assigned.
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Article Text
WISCONSIN BANK CLOSED. No Reason Yet Known for Suspension of Dairymen's National. Sheboygan.-The Dairymen's National Bank of Sheboygan Falls was closed by order of the board of directors. A national bank examiner has been summoned. No reason is known for the closing. The bank has a capital stock of $25,000, a surplus of $15,000 and deposits amounting to $126,000. John E. Thomas is president and Stedman Thomas is cashier. The bank is about thirty years old.
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WISCONSIN BANK CLOSED Dairymen's National of Sheboygan Falls Suspends. Sheboygan Falls, Wis., June 28.-By order of the directors, the Dairymen's National bank of this city was closed pending the arrival of a national bank examiner. Assurance has been given the depositors that they will be paid in full and the officers hope to reopen the bank in ten days.
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BANK CLOSED TO AVERT RUN. Dairymen's National of Sheboygan Falls Suspends Business. By order of the directors, the Dairymen's National Bank of Sheboygan Falls was closed the other day pending the arrival of a national bank examiner. Assurance has been given the depositors that they will be paid in full and the officers hope to reopen the bank in a few days. John E. Thomas, 81 years old, is president of the bank. His son, Stedman Thomas, is the cashier. The bank was started more than thirty years ago. It is capitalized at $25,000, has a surplus of $1,500, and the deposits aggregate about $125,000. Reports that the bank was in difficulty because of inability to realize on an old loan caused some small depositors to wthdraw their accouns. Fearing a run, the directors ordered the institution closed. Seven years ago the bank loaned $70,000 to the old Elkhart-Plymouth Traction line, which failed about two years ago. The bank was able to realize only $20,000 on the loan, and since that time the stockholders have been trying to liquidate the remaining $50,000.
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BANK MAY BE REOPENED. Sheboygan Falls Institution Squaring Up Accounts. SHEBOYGAN, Wis., July 3.-[Special.]-Records were filed today with the register of deeds stating that Stedman Thomas, cashier of the Dairymen's National bank of Sheboygan Falls, which closed its doors last week, disposed of a total of twenty-nine lots in the village of Sheboygan Falls to John Dassow and E. G. Trowbridge, vice president and director of the bank respectively. The records show that $2000 was paid for the lots. It is understood that $44,000 worth of personal notes have been given by Stedman Thomas and J. E. Thomas to many patrons of the bank instead of certificates of deposits. There is a rumor that the bank may be reopened again.
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Dairyman's Bank Reopened. The Dairyman's National Bank, of Sheybogan Falls, Wis., which suspended on June 25, was today directed by the Comptroller of the Currency to open its doors for general business, its capital stock now being unimpaired, and other requirements of the comptroller having been met.
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PERMITTED TO REOPEN. Dairymen's National Bank, Sheboygan Falls, Mich., Suspended June 25. Washington, July 27.-The Dairymen's National Bank of Sheboygan Falls, Wis., which suspended payment on June 25, was today permitted by the comptroller of currency to reopen its doors for business as an active national banking association.
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WISCONSIN BRIEFS Epitomized History of the Week in the State. tacine, Wis.- When the county of supervisors meets Nov. 9 will be a merry fight over the uilding of the courthouse. Officials it is inadequate for records and sanitary. The majority of the comurge its rebuilding at a cost of ,000, while the minority plan to such a plan. Milwaukee, Wis.-The annual conof the Polish National Alliance here, and will last all the President M. B. Steczynski is siding over its deliberations. The is a patriotic organization, about 60,000 members in 29 states union. There are approximately delegates attending the convenheboygan.-John E. Thomas, forpresident of the Dairymen's Nabank, of Sheboygan Falls, which recently reorganized under a new nagement, has taken rooms at St. hospital and will reside there the winter. He is 81 years of and is in poor health. It has been lerstood that he has been ill since failure of the bank. Claire.-Walter Lowe, twentyyears old, was seriously injured working about a threshing maand is now at the hospital. His caught in one of the wheels as was oiling the separator and gged him into the machinery. His was broken in two places and his smashed SO badly that it will to be amputated. Internal inare feared. Madison. The Wisconsin primary law is to be given a constitu, test. An action begun by A: Van Alstine, represented by State F. Lehr of Appleton, seeks restrain the secretary of state and treasurer from publishing notice the primary election in September, and from auditing accounts of of the same. The injunction asked and the summons is made urnable in 20 days. Five causes of are alleged in the complaint. Milwaukee.-Dr. Frederick A. Cook, explorer, arrived in Milwaukee and ivered a lecture before a large and husiastic audience in the audiThe large committee comof city officials, members of the business league and merand manufacturers welcomed Cook at the railway station, he was driven to the Pfister where an informal reception tendered him. The explorer had uested that the day be spent quietthe only other event was when was taken to the Milwaukee Press where he was given a warm weland here Dr. Cook inscribed his upon a panel alongside the ographs of other famous persons the conclusion of his lecture last Dr. Cook boarded a boat for Haven, Mich., en route to De The explorer is accompanied by wife. Crosse.-Destinies of the Minnea-Wisconsin league for 1910 will be when the league directors and meet at the St. Louis hote: Duluth, Minn., at the annual The chief business will be ecision on an eight-club league for season, and President John A has declared that the size of league will be increased. League sident Elliott, President Rooney 01 La Crosse association and Pres Borth of Winona will leave Mon morning for Duluth, via Roches Stillwater, Red Wing and Mankaand fans in these cities will be in viewed with regard to coming into league. President Elliott is anx to get Winnipeg and Brandon of Western Canadian league into the if possible, but if this organization continued next season, two towns have to be selected from the four named to comprise the ht-club circuit. Iadison.-In a drizzling rain, the iversity of Wisconsin football team defeated the light but plucky vrence (Wis.) university 22 to 0