North Western National Bank

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 4878
Charter Number: 4878
Start Date: February 1, 1897*
Location: Superior, Wisconsin (46.721, -92.104)

Metadata

Model: gpt-5-mini
Short Digest: ee90f179

Response Measures

Full suspension

Other: Receiver appointed (W. H. Slack/Black) on application of Northwestern National Bank; Northwestern National Bank applied for a receiver itself and management was removed.

Description

Newspaper articles (Feb 15, 1897) report that the Northwestern (North Western) National Bank in West Superior had been placed in other hands and immediately applied for a receiver after having sustained a run for weeks and being nearly depleted. A receivership/suspension was effected (creditor application). Interpreted as a run leading to suspension and closure (receiver assigned). OCR variations of receiver name (Slack/Black) in different papers noted.

Events (5)

1. May 2, 1893 Chartered

Source: historical_nic

2. February 1, 1897* Run

Cause: Bank Specific Adverse Info
Cause Details: Sustained withdrawals for weeks tied to bank distress and management problems (removal of Fowlers from management and connections with failing State Trust & Savings Bank).
Measures: No specific rescue measures described other than later applying for a receiver.
Newspaper Excerpt: The bank had sustained a run for weeks and had only $200 left.
Source: newspapers

3. February 13, 1897 Suspension

Cause: Government Action
Cause Details: Went into receivership on application of a creditor/management change; receiver appointed (creditor application).
Newspaper Excerpt: suspended... going into the hands of W. H. Slack as receiver, on application of the Northwestern National bank
Source: newspapers

4. October 7, 1902 Voluntary Liquidation

Source: historical_nic

5. * Other

Newspaper Excerpt: The State Trust and Savings Bank... suspended... on application of the Northwestern National Bank, a creditor to the extent of $24,000. The State Trust and Savings Bank was owned by Homer T. and Walter Fowler, who have just been removed from the management of the big Northwestern National Bank, which is placed in other hands and which immediately applied for a receiver.
Source: newspapers

Newspaper Articles (2)

1. February 15, 1897 Daily Kennebec Journal Augusta, ME

Article from Daily Kennebec Journal, February 15, 1897

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Article Text

The State Trust and Savings Bank. capital $25,000, of West Superior, Wis., suspended. Saturday, going into the hands of W. H. Slack as receiver, on application of the Northwestern National Bank, a creditor to the extenţ of $24,000. The State Trust and Savings Bank was owned by Homer T. and Walter Fowler, who have just been removed from the management of the big Northwestern National Bank, which is placed in other hands and which immediately applied for a receiver. The liabilities are placed at $40,000 and assets $25,000, but the bank's books show $78,000 liabilities and some assets in which the Northwestern National is the only secured creditor. The bank had sustained a run for weeks and had only $200 left.

2. February 15, 1897 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, February 15, 1897

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Article Text

In a Receiver's Hands. West Superior, Wis., February 13.-The State Trust and Saving bank, capital $25,000, suspended this morning, going into the hands of W. H. Black as receiver, on application of the Northwestern National bank, a creditor to the extent of $24,000. The State Trust and Savings bank was owned by Homer T. and Walter Fowler, who have just been removed from the management of the big Northwestern National bank, which is placed in other hands and which immediately applied for a receiver. The liabilities are pledged at $40,000 and assets $25,000.