Shell Lake Savings Bank (Shell Lake, WI)

Episode Information

Episode Type
Suspension β†’ Reopening
Start Date
June 1, 1893*
Location
Shell Lake, Wisconsin (45.739, -91.925)
Bank Type
savings

Metadata

Notes

Suspension clearly linked to failure/suspension of A.C. Probert's Washburn private bank; bank later reopened by depositors' agreement.

Events (3)

1. June 1, 1893* Receivership
Newspaper Excerpt
the Shell Lake Savings bank here, which assigned two years ago, and reopened by consent of depositors in March, 1894, was sold by the sheriff under execution ... (1895 article referring to assignment two years prior).
Source
newspapers
2. June 8, 1893 Suspension
Cause
Local Banks
Cause Details
Suspended following failure/suspension of A. C. Probert's private bank at Washburn, whose troubles undermined confidence in Shell Lake.
Newspaper Excerpt
SHELL LAKE, Wis., June 8.-The Shell Lake Savings Bank suspended yesterday.
Source
newspapers
3. March 22, 1894 Reopening
Newspaper Excerpt
The bank is now open and doing a prosperous business. (cases against president and cashier dismissed; compromise effected with depositors).
Source
newspapers

Newspaper Articles (15)

Article from Asheville Daily Citizen, June 8, 1893

Click image to open full size in new tab

Article Text

A DEED OF TRUST

Several Small Failures-Assets More Than Liabililies. CHATTANOOGA, TENN., June 8.-D. B. Loveman, one of the leading dry goods merchants in the South, filed a deed of trust with the county register last evening for the benefit of certain preferred creditors. He named as his assignees H. Clay Evans, of Chattanooga, late first assistant postmaster general, and Louis Black, of Cleveland, O. The aggregate indebtedness is $130,736; assets $250,000. CHICAGO, June 8.-Conrad Niehoff, private banker, 49 Lasalle street has made an assignment. Assetts, $90,000; liabilities, $60,000. WILMINGTON, DEL., June 8.-Bellah and Company, wholesale dealers in iron and steel, have failed. ASHLAND, Wis. June 8. -The Bank of Washburn closed yesterday. The officers claim the suspension is only temporary. SHELL LAKE, Wis.. June 8.-The Shell Lake savings bank suspended yesterday. NEW YORK, June 8.-The Richmond Terminal sold at one today, the lowest point ever reached.


Article from Evening Star, June 8, 1893

Click image to open full size in new tab

Article Text

More Western Banks Close

ASHLAND, WIS.. June 8.-The Bank of Washbun closed its doors yesterday morning. Officers claim that suspension is only temporary on account of financial stringency, and that it will reopen in a few davs. SHELL LAKE. WIS.. June 8.-The Shell Lake Savings Bank suspended yesterday.


Article from The Morning News, June 9, 1893

Click image to open full size in new tab

Article Text

Two Banks Closed in Wisconsin

Ashland, Wis., June 8.-The Bank of Washburn closed its doors yesterday. The officers claim that the suspension is only temporary. A SHELL LAKE BANK SHUT, Shell Lake, Wis., Jtine 8.-The Shell Lake Savings Bank suspended yesterday.


Article from St. Paul Daily Globe, June 9, 1893

Click image to open full size in new tab

Article Text

Depositors Are Uneasy

SHELL LAKE, Wis., June 8. - The Shell Lake Savings bank has closed its doors, supposed to be owing to the suspension of A. C. Probert's private bank at Washburn. Depositors are uneasy, yet great confidence is reposed in the management of the bank.


Article from New-York Tribune, June 9, 1893

Click image to open full size in new tab

Article Text

MORE BANKS CLOSED IN THE WEST

Chicago, June 8.-Conrad Nlehoff, private banker. at No. 49 La Salle-st., made an assignment for the benefit of all creditors, which was filed in the county court. transferring the banker's property to Adam W. Jaeger as assignee. Assets are scheduled at $90,000 and Liabilities at $60,000. Refusal of the bank through which Niehoff cleared to pay checks caused the trouble. The bank was conducted under the title of Conrad Niehoff & Co., but the banker had no associate in the business. Ashland, Wis., June 3.-The Bank of Washburn closed its doors yesterday. Officers say that suspension is only temporary, on account of financial stringency, and that it will open in a few days. It Is a private Institution with a stated capital of #25,000, and a surplus of $12,000. The dΓ©posits are about $40,000. A. C. Robert Is president and states that the depositors will be paid in full. Shell Lake, Wis., June 8.-Owing to the failure of the bank of A. C. Robert at Washburn, the Shell Lake Savings Bank, of which Robert is the principal owner. suspended yesterday. It is said that the depositors will be paid in full. The assets and liabili(ies are not known.


Article from The Madison Daily Leader, June 10, 1893

Click image to open full size in new tab

Article Text

Depositors Are Uneasy

SHELL LAKE, Wis.. June 10.-The Shell Lake Savings Bank has closed its doors, supposed to be owing to the suspension of A. C. Probert's private bank at Washburn. Depositors are uneasy, yet great confidence is reposed in the management of the bank.


Article from The Madison Daily Leader, October 21, 1893

Click image to open full size in new tab

Article Text

Arranging For Resumption

SHELL LAKE, Wis., Oct. 21.-A. C. Probert, president of the suspended Shell Lake Savings bank, also the Bank of Washburn and the Bank of Prescott, has just returned from a trip to the East, and has notified his depositors that he has partially perfected arrangements which will enable him to resume. Mr. Probert and his cashier are under arrest on several charges, and if the settlement is made it is believed by many that it means the criminal proceedings will be dropped.


Article from St. Paul Daily Globe, March 23, 1894

Click image to open full size in new tab

Article Text

THE BANK ALL RIGHT

Cases Against the President and Cashier Dismissed. Special to the Globe. SHELL LAKE, Wis., March 22.-The criminal cases which were pending against A. C. and Edwin Probert, president and cashier of the Shell Lake Savings bank, have, on motion of the district attorney, been dismissed at the term of circuit court just held here by Judge R. D. Marshall. This was a foregone conclusion, as after the excitement following the bank failure last June had subsided it was readily perceived that everything was done in good faith by the bank officers, and that it was only under the stress of the panicky times which took down older institutions that they succumbed. A compromise was effected with the depositors, whereby the creditors will be paid off in quarterly payments extending over a period of two years. The bank is now open and doing a prosperous business.


Article from St. Paul Daily Globe, September 24, 1895

Click image to open full size in new tab

Article Text

Shell Lake Bank Sold

SHELL LAKE, Wis., Sept. - -The Shell Lake Savings bank here, which assigned two years ago, and reopened by consent of depositors in March, 1894, was sold today by the sheriff under execution, and bought in by Capt. Bourne, of this place. The bank was to pay in four payments, three of which are now past due. and unpaid. The bank is still open for business.


Article from The Madison Daily Leader, September 25, 1895

Click image to open full size in new tab

Article Text

Bank Sold by Sheriff

SHELL LAKE, Wis., Sept. 25.-The Shell Lake Savings bank here, which assigned two years ago, and reopened by consent of depositors in March, 1894, was sold by the sheriff under execution


Article from The Representative, September 25, 1895

Click image to open full size in new tab

Article Text

Shell Lake, Wis.-The Shell Lake Savings bank here, which assigned two years ago, and reopened by the consent of the depositors in March 1894, was sold by the sheriff under execution, and bought in by Capt. Bourne, of this place.


Article from The Worthington Advance, September 26, 1895

Click image to open full size in new tab

Article Text

Bank Sold by Sheriff

SHELL LAKE, Wis., Sept. 24.-The Shell Lake Savings bank here, which assigned two years ago, and reopened by consent of depositors in March, 1894, was sold by the sheriff under execution.


Article from The Sauk Centre Herald, September 26, 1895

Click image to open full size in new tab

Article Text

Bank Sold by Sheriff

SHELL LAKE, Wis., Sept. 25.-The Shell Lake Savings bank here, which assigned two years ago, and reopened by consent of depositors in March, 1894, was sold by the sheriff under execution.


Article from Little Falls Weekly Transcript, September 27, 1895

Click image to open full size in new tab

Article Text

Bank Sold by Sheriff

SHELL LAKE, Wis., Sept. 24.-The Shell Lake Savings bank here, which assigned two years ago, and reopened by consent of depositors in March, 1894, was sold by the sheriff under execution.


Article from Bismarck Weekly Tribune, September 27, 1895

Click image to open full size in new tab

Article Text

Bank Sold by Sheriff

SHELL LAKE, Wis., Sept. 25.-The Shell Lake Savings bank here, which assigned two years ago, and reopened by consent of depositors in March, 1894, was sold by the sheriff under execution