22936. First National Bank (Superior, WI)

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
3926
Charter Number
3926
Start Date
January 12, 1904
Location
Superior, Wisconsin (46.721, -92.104)

Metadata

Model
gpt-5-mini
Short Digest
18396626

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Multiple articles (Jan 12–14, 1904) report a run on the savings department of the First National Bank of Superior. The bank met withdrawals in gold, stayed open late, received cash shipments from St. Paul, paid out roughly $250,000–$325,000, and the run subsided; there is no mention of any suspension, receivership, or permanent closure. Cause is repeatedly stated as unknown or 'seemingly without any cause.'

Events (2)

1. September 25, 1888 Chartered
Source
historical_nic
2. January 12, 1904 Run
Cause Details
Articles repeatedly state the cause is unknown; reports describe the run as seemingly without any cause.
Measures
Bank stayed open late and through the night to pay depositors, paid out in gold, received a $250,000 cash shipment from St. Paul, and continued paying demands until withdrawals subsided.
Newspaper Excerpt
A run was started on the savings department of the First National bank today and this afternoon the line of depositors extended out into the street.
Source
newspapers

Newspaper Articles (11)

Article from The Fargo Forum and Daily Republican, January 13, 1904

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Article Text

THE BANK RUN The Depositors of the Superior Savings Bank Are Still After Their Money. Superior, Wis., Jan. 13.-The run on the First National Bank, which started yesterday, continued until 1:30 this morning when the last of the saving depositors was paid and the officials closed the doors for the night and went home. The bank officials say the bank can stand a run as they have plenty of cash. The run on the bank was resumed this morning at IO o'clock when about fifty depositors of the savings department were in line. Cashier Benson said he was glad to have an opportunity of showing the bank's ability to meet every demand.


Article from Evening Times-Republican, January 13, 1904

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Article Text

BANK MEETS RUN WITH GOLD. First National, of Superior, Wis., Invaded by Clamoring Depositors. Superior, Wis., Jan. 13.-Seemingly without any cause, a run on the First National Bank was begun yesterday and continued all day. Last night the bank still was paying in gold, and crowds were surging around the doors. The bank has a capital of $200,000 with deposits of $1,500,000. Refusal of those connected with the institution to subscribe to the building of a boat when asked by the striking shipyard employ-


Article from The Saint Paul Globe, January 13, 1904

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Article Text

BANK KEEPS OPEN AT NIGHT TO PAY First National of Superior Is Determined Depositors Shall Be Satisfied. Special to The Globe. SUPERIOR, Wis., Jan. 12.-The First National bank did not close this afternoon. It is open tonight on account of the run on the savings department started this morning. The bank officials have not been out to eat since morning and are paying the savings depositors in gold as fast as they come. It is unknown what caused the run. The bank officials say that they will keep open until every person gets his money. The bank is capitalized at $200,000 with total deposits of clost to $1,500,000. Business men have made deposits instead of drawing out and believe the institution is sound. A quarter of a million dollars in cash arrived from St. Paul tonight to help meet the run.


Article from The Salt Lake Herald, January 13, 1904

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Article Text

MONEY READY FOR THEM. Bank Open All Night For the Benefit of Alarmed Depositors. Superior, Wis., Jan. 12.-A run was started on the savings department of the First National bank today and this afternoon the line of depositors extended out into the street. A notice was issued by the bank officials stating that the bank will remain open tonight until the last person in the line has been paid. The bank was still open at a late hour tonight, and a long line of customers were being paid their deposits as they were demarded. President Banks said he could keep open all night, if necessary, and pay every one in gold. The bank is the oldest in the city and has a capital of $200,000, with deposits of about $1,500,000, of which $400,000 is savings deposits.


Article from The Savannah Morning News, January 13, 1904

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Article Text

Run on Savings Bank. Superior, Wis., Jan. 12.-A run was started on the savings department of the First National Bank to-day, the line of depositors extending out into the street. The bank was kept open until a late hour to-night and customers were being paid their deposits as they were demanded. The cause of the run is not known.


Article from Ottumwa Tri-Weekly Courier, January 14, 1904

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Article Text

BANK MAKES GOOD. Wisconsin Institution Meets Run With Money Promptly. Superior, Wis., Jan. 13.-The run on the First National bank which started yesterday morning continued until 1:30 o'clock this morning. When the bank was reopened today the run was resumed but all demands were promptly met.


Article from Waterbury Evening Democrat, January 14, 1904

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Article Text

Run on Superior (Wis.) Bank Over. SUPERIOR, Wis., Jan. 14.-The run on the savings department of the First National bank has entirely subsided. A quarter of a million dollars has been paid out. Deposits lately have been in excess of withdrawals.


Article from The Cairo Bulletin, January 14, 1904

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Article Text

RUN ON BANK STOPS. By Associated Press. Superior, Wis., Jan. 13.-The run on the savings department of the First National bank, which started yesterday morning, has entirely subsided. The bank paid out $325,000.


Article from The Telegraph-Courier, January 14, 1904

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Article Text

Run on a Wisconsin Bank. Superior, Wis., Jan. 13.-A run was started on the savings department of the First National bank, and before long the line of depositors extended out in the street. A notice issued by the bank's officials stated that the paying teller's window would remain open at night until the last person in line had been paid.


Article from The Billings Gazette, January 15, 1904

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Article Text

RUN ON THE BANK SUBSIDES. Superior (Wis.) Institution Paid Out Large Sum. Superior, Wis., Jan. 14.-The run on the savings department of the First National bank, which started Tuesday morning, had entirely subsided at 1 o'clock Wednesday afternoon, two hours before the regular closing time. A quarter of a million dollars was S paid out Tuesday, according to Cashier Benson, and about $75,000 on Wednesday, but the deposits for Wednesday were in excess of the withdrawals.


Article from Custer County Republican, January 21, 1904

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Article Text

BANK STAYS OPEN AT NIGHT. Busy Paying Off Depositors Who Make a Run on It. SUPERIOR, Wis.-A run was started on the savings department of the First National bank Tuesday morning. and in the afternoon the depositors extended out in the street. A notice was issued by the bank's officers stating that the bank would remain open Tuesday night until the last person in line had been paid. The bank was still open at a late hour Tuesday night and a long line of customers were being paid their deposits as they were demanded. President Banks said he could keep open all night if necessary and pay every one in gold. The bank is the oldest in the city, and has a capital of $200,000, with deposits of about a million and a half. The bank paid out a vast sum, but business men made heavy deposits. The C. use of the run is not known.