22935. Douglas County Bank (Superior, WI)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
April 22, 1897
Location
Superior, Wisconsin (46.721, -92.104)

Metadata

Model
gpt-5-mini
Short Digest
0d9545ac

Response Measures

None

Description

Articles describe the Douglas County Bank as 'defunct' (April 22, 1897) and show assets being handled by a receiver (Northern Trust Company) with a sale scheduled Feb 25, 1898. No run or depositor panic is mentioned. Closure and receivership indicate permanent failure.

Events (2)

1. April 22, 1897 Suspension
Cause Details
Article refers to the bank as 'defunct' and bond suits are underway; no specific trigger for suspension is given.
Newspaper Excerpt
At West Superior, City Attorney Green filed complaints against the bondsmen of the city's money in the defunct Douglas County Bank, suing to recover $10,922 of the general fund and $10,290 of the sinking funds.
Source
newspapers
2. February 11, 1898 Receivership
Newspaper Excerpt
On Feb. 25 the Northern Trust company, as receivers of the defunct Douglas County bank, will receive bids for the balance of the assets of that institution ... it is expected that the assets will bring enough to net about 50 cents on the dollar of the bank's indebtedness.
Source
newspapers

Newspaper Articles (2)

Article from Eagle River Review, April 22, 1897

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Article Text

# Minor State Matters. D. D. Treleven, an old resident and leading business man of Fond du Lac, died, after a brief illness. Col. Charles P. Rudd, a prominent lumberman of Rayfield, is dead, aged 60 years. His remains were taken to Louisville, where he formerly lived. Preacher-Mayor C. S. Starkweather is seriously ill at West Superior with nervous prostration, due to overwork and exposure in the recent campaign. He was taken worse Friday, and is now under the constant care of his physician. At West Superior, City Attorney Green filed complaints against the bondsmen of the city's money in the defunct Douglas County Bank, suing to recover $10,922 of the general fund and $10,290 of the sinking funds. The defendants are the bondsmen of the bank, all well-known business men. A dividend of 30 per cent has been declared by Receiver Peter Reuter of Kaukauna for the affairs of the Hoberg Paper Company of Green Bay, which are in his hands for settlement. This dividend will be followed by others as fast as the business of the company allows, until all the creditors have been paid. The official canvass showed the total vote in Rock County to be 5,086, of which John W. Sale, the present judge, received 5,082. For Supreme justice, Roujet D. Marshall received 3,623. The vote on the amendment to the constitution giving Milwaukee an extra Circuit Court judge, stood 872 for and 554 against. The trestles approaching the Huce iron bridge on the Burlington Railway, at the mouth of the Trempealeau river, at Trempealeau, were washed out by a terrific volume of water, said to have been caused by a blocking up of the Mississippi. All trains on this road have been stopped, and large crews are at work endeavoring to save further destruction. The Union National Bank of Racine secured a victory in the United States Court at Chicago. In 1888 Jaeger & Co., who conducted a foundry establishment, failed. The Union National Bank had a claim of $18,000 against the concern and sued E. A. Jaeger, one of the proprietors. The matter has been in litigation since that time. The jury returned a verdict giving the Union National Bank $19,000. The big St. Croix log jam is causing Grantsburg loggers no little amount of anxiety. Large crews of men have been sent up and thus far only a small portion of it has been moved, while in the rear logs are piling up at the rate of 1,000,000 feet per day. The jam is now nearly two miles in length and contains 20,000,000 feet of logs. The jam is now nearly two miles in length and contains 20,000,000 feet of logs. The jam is now under low water, and sand has drifted in between the logs, making the entire river bed a solid bulwark of logs, piled in every conceivable manner. Large 20-foot logs that will scale 800 or 900 feet stand on end. Fred Gibson, residing at Fond du Lac, was terribly bitten by a dog. The calves of his legs are lacerated in a horrible manner. The dog was shot. Mr. Gibson was given prompt medical attendance. All the mills at Merrill, excepting that of the Wright Lumber Company, have started sawing and the Wright mill will start in a few days. The mills are all well supplied with logs and unless something unforeseen prevents there will be a long season's work in the sawmills. Two new hoop factories have been started in the past few months. The box factory is running full blast.


Article from The Saint Paul Globe, February 12, 1898

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Article Text

Bids for Bank Assets. WEST SUPERIOR. Wis., Feb. 11.-On Feb. 25 the Northern Trust company. as receivers of the defunct Douglas County bank, will recive bids for the balance of the assets of that institution. consisting of notes and judgments to the amount of about $67,000. and real estate valued at about $60,000. at present prices. It is expected that the assets will bring enough to net about 50 cents on the dollar of the bank's indebtedness.