Bank of Two Rivers - Two Rivers, WI

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: June 6, 1893
Location: Two Rivers, Wisconsin (44.154, -87.569)

Metadata

Model: gpt-5-mini
Short Digest: 5ba1909c

Response Measures

None

Description

Articles (June 6, 1893) report the Bank of Two Rivers closed/failed; a later local paper (June 29) reports the bank reopened after a committee examined its condition and creditors had the assignee reconvey the bank's property. The contemporary accounts do not explicitly describe a depositor run on this specific bank, so classified as a suspension (failure/closure) followed by reopening.

Events (2)

1. June 6, 1893 Suspension

Cause Details: Bank closed/failure reported; owner/cashier David Becker absent; no explicit run or specific cause given in articles.
Newspaper Excerpt: The Bank of Two Rivers failed this morning.
Source: newspapers

2. June 27, 1893 Reopening

Newspaper Excerpt: The Bank of Two Rivers reopened its doors on Tuesday of this week. A committee had been appointed to examine its condition and the report was so favorable that the creditors at once decided to have the assignee re-convey the bank its property assigned.
Source: newspapers

Newspaper Articles (6)

1. June 7, 1893 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, June 7, 1893

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WISCONSIN'SUFFERS. Many Banks in Trouble and Some of Them Closed. MANITOWOC, Wis., June 6.--The state bank of this city is closed. The capital stock is $50,000; surplus $10,000. The Manitowoc savings bank is experiencing a light run. Reports from Racine say a run is in progress on the Manufacturers' National bank. At Madison, the run on the First National bank has increased in vogor and other banks are having increased demands. The bank of Two Rivers closed the doors this morning. It is capitalized at $10,000 and its resources, according to the last statement, were $40,520. The amount due depositors is $59,314.

2. June 7, 1893 New-York Tribune New York, NY

Article from New-York Tribune, June 7, 1893

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MANY SMALL BANKS GO DOWN. UNDUE EXPANSION THE CAUSE IN ONE CASERUNS RESPONSIBLE IN OTHERS. Toledo, Ohio, June 6.-A dispatch to "The Blade" from Defiance, Ohio, says that the doors of the Deliance Savings Bank closed yesterday afternoon just before 3 o'clock. This was done by the assignee, Rolla H. Gleason. Many of the stockholders did not know that any such step was in contemplation. The bank is the youngest in the town, and has a paid up capital of $27,000. The assets will reach not less than $150,000, and the liabilities are stated at $100,000. The failure is attributed to large loans made by the bank, which ties up some $127,000, leaving them too narrow a working capital. Andrew Sauer, the cashier, assigned his entire real and personal property amounting to $100,000, Frank S. Smith being his assignee. The enterprises In which Mr. Sauer is Interested. all of which are Included in his assignment, are the Deflance Electric Street Railway, electric light plant and gas works, the Citizens' Opera House, valued at $50,000, besides considerable real estate. The Golden Rule Drygoods House, in which he was Interested with a stock valued at 42,000, was turned over to Henry Smith and Henry Foos, two of his heaviest creditors. Manitowor, Wis., June 6.-The State Bank of ManItowoc did not open for business this morning. There has been a continued run on the Institution for the last three weeks, and the officers have made a fight against the failure which by developments yesterday was made inevitable. C. C. Barnes, the president, It is understood, has turned over all his personal property to cover any possible loss by depositors. The bank's capital stock was $50,000 and the surplus $10,000. The Manitowoe Savings Bank is experiencing a light run. Reports from Racine say a run is in progress on the Manufacturers' National Bank. At Madison the run on the First National Bank has increased in vigor, while other banks are having Increased demands. Spokane, Wash., June 6.-The Washington National Bank and Its adjunct, the Washington Savings Bank, closed their doors this morning. They were crippled by the quiet run yesterday. Both show strong assets, much in Increase of the liabilities, but could not get money in time for the sudden demand. The other banks are being subjected to a severe run, but seem to be standing the strain well. Two Rivers, Wis., June 6.-The bank of Two Rivers closed its doors this morning. It was capitalized at $10,000. Its resources according to the last state. ment were $70,523, and amount due depositors, $59,314 32. Philadelphia, June 6.-Cornellus & Rowland, dealers in gas fixtures, at No. 1,512 Chestnut-st. have made an assignment. Liabilities are estimated at $50,000, and assets at $75,000.

3. June 7, 1893 San Antonio Daily Light San Antonio, TX

Article from San Antonio Daily Light, June 7, 1893

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LATE TELEGRAMS BOILED DOWN FROM PRIVATE SPECIAL AND OTHER SOURCES. Lizxie Borden faints in court. Mrs. Henry Field marries T. Nelson Page, the author. Railway smash-up at Channing, but no one hurt. Moody Merrill disappears from Boston, his accounts $192,000 short. Fort Worth has finally heard of that San Marcos cave. Galveston goes to the Austin regatta. Dallas Herald sold under the hammer. International Reciprocity convention continues session at St Paul. Cap Evans, of Fort Worth, elopes with Eula Greathouse, of Mineola, creating a great sensation. The Nawab of Rampus is traveling to the World's fair and is in San Francisco. ,Thurston's credentials presented and accepted as minister from Hawaii. Corn and cotton crops are reported injured 30 per cent at Columbus, Miss., by wind and rain. Before the Bering sea tribunal yesterday Richard Webster continued his argument. Baron de Tetyll of England - died on the steamer from Honolulu to San Francisco from consumption. J. A. Jenkins, treasurer of Clark county, Indiana, is a defaulter in to $25,000. His the nation from The $10,000 bank caused discovery. resigof Two Rivers, Wis., closed its doors was $10,000; due $70,523; capital depositors, yesterday. $59,314.32. resources, The Locomotive filed a Chicago ment The Grant to W. voluntary Works assign- of K. Aokerman and J. H. Liabilities, assets, The Wilson. $1,150,000, including $410,000; plant. Bradstreet, Thurber company's big furniture store in Minneapolis was burned last evening. Loss on store, $135,000; damage $119,500. block, $15,000; insurance on stock, to Lightning struck one of the buildings of the New York house in Brooklyn yesterday. ware- It was a five-story building. Loss by fire estimated at $100,000: covered by insurance. The Radical members of the House of Commons met in conference last evening and Labouchere spoke in favor of summary action to force the home rule bill through the committee stage. During the run on the bank Chicago Philip Armour called 100 at or more depositors into their office and told them Armour & Co. would guarantee the deposits. All but two women were satisfied and they got their money in gold.

4. June 7, 1893 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, June 7, 1893

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CRIPPLED BANKS. Small Country Banks in Wisconsin Suspend Payment. NEW YORK, June 6.-State Examiner Preston took charge of the affairs of the Canal Street bauk, at 206 Canal street, this morning. The bank went into voluntary liquidation yesterday because of the refusal of the Shoe and Leather bank to clear for the Canal Street bank. Two RIVERS, Wis., June 6.-The Bank of Two Rivers failed this morning. A statement from the officials as to the cause and condition of the bank cannot be had, as the cashier and principal owner, David Becker, is not in the city. MILWAUKEE, June 6.-The flurry in financial circles of last week has passed away. This morning there is not a run on a single bank in town. The Commercial, Second Ward and South Side Savings banks present their usual appearance, and confidence seems to have been completely restored. It was thought that the flurry in Chicago would have its effect here, but its influence does not seem to have been felt at all. TOLEDO, O., June 6.-A Blade special says the savings bank of Andrew Sauer, at Defiance, failed. Particulars soon as received. Liabilities, $100,000. TROY, N. Y., June 6.-The affairs of Neher & Carpenter, brokers and private bankers, who failed some time ago, are not in an encouraging condition. The liabilities are about $235,000 and the actual value of the assets $131,000. Neher & Carpenter were the Eastern agents of the North western Guaranty Loan association, of Minneapolis. MILWAUKEE, June 6.-A special from Manitowoc, Wis., says the State bank in that city has closed. Its capital stock was $50.000, and the surplus $10,000. The Manitowoc Savings bank is now experiencing a light run. Reports from Racine say a run is in progress on the Manufacturers' National bank. At Madison the run on the First National bank has increased in vigor, while other banks are having increased demands. SPOKANE, Wash., Jnne 6.-The Washington National bank and its adjunct, the Washington Savings bank, closed their doors this morning. They were crippled by the quiet run yesterday. Both show strong assets in excess of liabilities, but could not get money in time for the sudden whirl. The other banks are being subjected to a severe run, but seem to be standing the strain well.

5. June 14, 1893 The Star Reynoldsville, PA

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CRASHES AT OTHER POINTS. The following is a summary of the financial disasters recorded Tuesday: Maintowor, Wis.-State Bank of Maintowoc after standing a three weeks' run. Defiance, 0.-Andrew Sauer's Savings Bank: liabilities, $100,000; assets $150 000. Boston.-Potter & Potter, magazine and newspaper publishers; liabilities $100,000. Philadelphia.-Same E. Prince. marble quarryman; liabilities $100,000; nominal as. setts $250,000. Troy. N. Y.-Neber & Carrenter. private bankers and brokers; liabilities, $235,000; actual assets, $131,000. Three Rivers. Mich.-Bank of Three Rivers, capitalization, $10,000; accounts due depositors at last statement, $60,000. Spokane, Wash.-Washington National and Washington Savings Banks; assets in excess of liabilities. Racine, Wis.-A run is in progress on the Manufacturers' National Bank. At Madison the First National is being subjected to a heavy run. Two Rivers, Wis.-The Bank of Two Rivers failed. The owner, David Becker, is not in the city. Evanston, III.Charles S. Winslow has been appointed receiver of the Evanston National Bank, Spokane. Wash.-The Comptroller has directed Bank Examiner E. T. Wilson to take charge of the Citizens' National Bank and the Washington National Bank. New Albany. Ind.-The New Albany Banking Company closed its doors owing to the fall of the Bedford Bank. Assets claim. ed, $212.000; liabilities. $100,000. Bedford, Ind.-The Belford Bank has suspended after a run. Palouse, Wash.- The First National Bank has suspended, owing to the Bank of Spokane's failure. Chicago-Joseph Rathbone & Co., lumber dealers. have assigned. Scheduled assets, $500,000. The run on the Banks has ceased. Cleveland, 0.-A run is in progress on the St. Clair street branch of the East End Savings Bank Company. No cause except fail 'rres in other cities.

6. June 29, 1893 The Manitowoc Pilot Manitowoc, WI

Article from The Manitowoc Pilot, June 29, 1893

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Manitowoc Pilot CITY AND COUNTY THURSDAY, FUNE 29, 1893. DR. HAHN moved on Tuesday of this week to Mishicott where he has located for the practice of his profession. THE case of Meinert against Ditmar for adultery, was dismissed by the district attorney. There was a suspicion that the action was begun with no good motive. REGISTER of Deeds Lindstedt reports conveyancing very dull. Only one conveyance has been made since Jyne 24 and that was a bargain consumated some time ago. THE Bank of Two Rivers reopened its doors on Tuesday of this week. A committee had been appointed to examine its condition and the report was SO favorable that the creditors at once decided to have the assignee re-convey the bank its property assigned.