Wisconsin Marine & Fire Insurance Company (Milwaukee, WI)

Episode Information

Episode Type
Run → Suspension → Reopening
Start Date
July 25, 1893
Location
Milwaukee, Wisconsin (43.039, -87.906)
Bank Type
state
Canonical name
Marine Bank
Alt. names
Wisconsin Marine & Fire Insurance Company

Metadata

Episode ID
Bank ID
City ID
551577901
Model
gpt-5-mini
Short Digest

Notes

Receiver Washington Becker was appointed; later reporting indicates a proposed reorganization and an eventual reopening in Jan 1894.

Events (5)
1. July 25, 1893 Run
Cause
Bank Specific Adverse Info
Cause Details
News of the Marine Bank's closing/insolvency triggered heavy withdrawals and crowds at other local banks.
Measures
Bank closed its doors; receiver later appointed.
Newspaper Excerpt
Within five minutes after the news the closing or the Wisconsin Marine and Fire Insurance company sin morning. ... considerable crowds gathered at the First National, Marshall & Ilsley and Wisconsin National banks.
Source
newspapers
2. July 25, 1893 Suspension
Cause
Government Action
Cause Details
Bank closed and a receiver (Washington Becker) was appointed following failure/insolvency.
Newspaper Excerpt
MILWAUER Wrs., July 25. The WisconMarine- and Fire-Insurance Company sin morning. This Bank closed its doors ...
Source
newspapers
3. July 25, 1893 Receivership
Newspaper Excerpt
Cashier Murphy says: The bank is not insolvent by any means ... Washington Becker, the temporary receiver, said: I have every reason to hope that our depositors will receive their money; Receiver Becker later filed statements of condition and pursued actions against debtors and creditors.
Source
newspapers
4. October 4, 1893 Other
Newspaper Excerpt
It was just a friendly conference ... The plan is not to revive the Wisconsin Marine & Fire Insurance Company Bank, but to organize a new bank which shall assume the liabilities of the old one. ... mortgages to the amount of not less than $1,600,000 ... to obtain advances of cash (reorganization talks).
Source
newspapers
5. January 15, 1894 Reopening
Newspaper Excerpt
The Marine Bank, of Milwaukee, the oldest in the state, which failed during the panic last summer, opened up again Monday. (reported Jan 18, 1894).
Source
newspapers

Newspaper Articles (17)
1. July 26, 1893 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, July 26, 1893

Click image to open full size in new tab

Article Text

won; Dispatch second, Edith third. Time, 1:03. Third race- six and one-half furlongsSarah Ramey won Sister Mary second, 1:22. Time, Liselg third. Fourth race mile-Old Pepper won: Philora second, J. Jugertha third. Time, Fifth race five hurdles. mile and quarter- Alfonsina won: Bassanio second, Geronimo third. Time, 2:22. NEW YORK, July 25-Brighton Beach First race- five furlongs- Eagle won: Osrie and Express ran a dead heat for the place. Time, 1:02 1/4. Second race-six furlongs-Conners won: Sprinta (colt) second, Dare Devil third. Time, 1:1916. Third furlongs. Orchis won: Lansing second, Play or Pay third. Time, 1:29% Fourth race five furlongs-Parlie Wilson won : Skedadle second, Terrifier third. Time, 1:01 34 Fifth race -seven furlongs-Speculation won Little Nell second, Circular third. Time.1:30. Sixth race- five and a half furlongsClement won: Tube Rose second, Hannibal third. Time. 1:04. MONMOUTH PARK. July 25 First racefive and half furlongs Sirocco Won: Fairy second, Alohathird. Time. 1:04 16. Second race-six furlongs Luster won: Mary Stone second, Red Banner third. Time, 1:10): Third race- five and a half furlongs. the Sapling Stakes Sepator Grady won Henry of Navarra and H derabad ran dead-heat for the place. Time. 1:05. Fourth race one and one-half miles. the Stevens Stakes Sir Waiter won: Rain second, Young Arion third. Time, 2:37% Fifth race five and one twelfth furlongs Little Pirate won Cross Fire (colt) second. Ascot third. Time. 1.06. Sixth race-six iurlo: Macintosh won: Ch:ef Justice second Mr. Sass third. Time, 1:12. PHILADELPHIA, July 25. One favorite four outsiders, and a second choice won to-day at Gloucester. First and one-sixteenth milesMcKeever won National second, Glenlocby third. Time,1:54. Second race and one half furlongsMiss Nannie won: O. D. second, Sue Ryder(colt)third. Time. 1:26. Third race-seven furlongs- Wallace G. WOD Houri second: Lost Star third. Time, 1:32. Fourth race- five furlongs Adair won Robin Hood second, Penzance third. Time, 1:02. Fitth race four and one-half furlongsPellawon: Veracity (filly second, Down. cast third. Time 58. Sixth race-five furlongs Melinda won Congress second, Stringfellow third. Time, 1:04. CLEVEAND, O., July 25. First race-2:27 class, trotting. purse $2,000- O. A. HickDexter ok's Alchandre, b. m. by Prince, dam by Nutwood Hiekok) 2.1.1. Nyanza. 1.5.5.3: Wilkes. 4,3,3, Bethne.3.3.2.3: Adra Bell,5, 4.7: Medio, Maggie Monroe. 7. 6,6,6 Alama, distanced. Time, 2:15% 2:1714 2:16 2:16 14 Second race- 4-year-olds-2:25 class. trotting. purse $2,000 Ketcham Farm' Miss Lida b. m., by King Clay, dam Mollie C. by Contractor Ketcham, 1,1,1: Aunt Delilah. 2. 2, 3: Happy Lady, 4,3,2: Sabina, Jessie C., 5.7.4: Peveril, 4.7: Blue Bell, 8, 9.5: Gift O'Neer, 7.6. Royal Wilton, 9,8,9. Time, 2:19% 2:17% 2:20. Third race 2:20 class. pacing. purse, $2,000 M. E McHenry's May Marshall, b. m., by Bill Wilkes, dam by Mambino: Abdallah (McHenry 10, Christo Queen Maud 2: Declincourt 9.6.3.3; Polly Cvelone, 6.8 7.5: Moonstone, 11.3 4. drawn: Tip O'Tip. 10.10, distance Juliet, 3,4, distanced Blue Hal, 7, 11, distanced. Time, 2:11 2:12% 2:12, 2:14% Jockey McDonald Done For. ST. LOUIS, Mo., July 25. During the progress of the second race at Southside Park yesterday Jockey J. McDonald was instantly killed just as he was approaching the grand stand, His mount. Dan D. suddenly broke down and fell to the track with a crash. striking on his head and falling on top of McDonald. Johnny B., one of the other racers. tumbled over the prostrate jockey and horse, but without serious consequence to himself or rider. McDonald was terribly crushed. Diamond Dast, B.H. E. R. At Philadelphia Philadelphias.. Brooklyns. Batteries: Wevbing and Clements: Stein and Kinslow. E. R. At Cincinnati Cincinnatis Clevelands Batteries: Sullivan and Murphy Young and Connor. R. B.H. E. At St. Louis 13 St. Louis 6 Chicagos. Batteries: arkson and Gunson Mc. Gill and Kittredge. R. B.H. E. At Boston : 13 Bostons. Washington Stivettsand Ganzel; Esper Batteries and Farrell, R4 B.H. E. At New York 13 2 New Yorks Baltimores. Batteries: Rusie and Milligan : Hawke, M IcNabb, and Clarke. R. B.H. E. At Louisville 0 01010200 Louisvilles 0 Pittsburgs Rhodes and Grim: Gumbert Batteries and Sugden SOUTHERN LEAGUE. R. . B.H. E. At Augusta 020000000 Augustas Chattanoogas Batteries: Blackburn and Dixon: Ste vens and Dugdale, R. B.H. E. At Charleston Charlestons. Savannahs and Lucid Armstrong Batteries Quarles : Counaug chton. B. B.H. E. At New Orleans: New Orleans Birminghams Batteries: Baker and Baldwin Miller and Earle. R. At Mobile: 12 Mobiles 0 Memphis Batteries: Foreman and Trost; Wittrock and Rogers. R. B.H. E. At Montgomery 10000007 Montgomery 0 Nasbville.. Batteries: Hoffer and Somers: Stagle and Twineham, R. B.H. E. At Macon Macon Atlanta Batteies Clausen and Fields: Darby and Moran. More Bank Suspensions. INDIANATOLIS. IND.. July 25. The Bank of Commerce did not open its doors this morning. INDIANAPOLIS. IND.. July 25. The Indianapolis National Bank suspended this morning. LOUISVILLE, Ky., July 25. The Merchants' National Bank suspended payment this morning MILWAUEER Wrs., July 25. The WisconMarine- and Fire-Insurance Company sin morning. This Bank closed its doors this Senator Mitchell's bank and has been is the strongest bank in the city. considered TOLEDO O. July 25.-The Farmers' Na-

2. July 29, 1893 Mineral Point Tribune Mineral Point, WI
Article from Mineral Point Tribune, July 29, 1893

Click image to open full size in new tab

Article Text

Resources-Loans and discounts $6,485,673.39, overdrafts $29,233.12. stocks, bonds and mortgages $567,412.loss and expense account $683.88. due from banks and bankers $1,038. 472.41, cash-currency $532,361.00. gold and silver $124,226.17. checks on clearing house $168,281.82. total resources $8,946,344.61. Liabilities-Capital $500,000.00, undivided profits $65,840.67, due depositors $7,870,503.94. due to others not included under either of above heads $500,000.00, total liabilities $8,946,344.61. Cashier Murphy says: "The bank is not insolvent by any means, and only time was needed to realize enough to meet every liability. It not only has ample assets. but Mr. Mitchell and Mr. Johnson are behind it." Washington Becker, the temporary receiver, said: "I have every reason to hope that our depositors will receive their money in a reasonable short time. can't say how soon, of course, but I hope it will be at an early day." Within five miutes after the news " the closing or the Wisconsin Marine and Fire Insurance company bank considerable crowds gathered at the First National. Marshall & Ilsley and Wisconsin National banks. Notwithstandthis fact and the renewed feeling of uncertainty a number of old deposwere on hand at each of these intitutions for the puropse of making leposits, and while money was hastily withdrawn even larger amounts were blaced on the inside of the counters. The bank was incorporated by the territorial legislature of Wisconsin in 1839, the charter being granted to Alexander Mitchell and George Smith, young Scotchmen just arrived from Aberdeen. The charter of the company repealed in 1844, as it was discovthat the company was doing a banking business, contrary to the proviso in its charter prohibiting it alhough in strict accordance with the specific business it had been authorto do. Alexander Mitchell ran the bank until his death a few years The stockholders of the bank are: John L. Mitchell, $313,300; David Ferguson, $166,600; Washington Becker, $20,000; John P. Murphy, $1,000; total, $500,000. John Johnston sold all his stock to John L. Mitchell about six months ago, but Johnston was still eashier and it is popularly thought that the deal was not so fully consummated to relieve him of liability. Mitchell lone is estimated to be worth from $5,000,000 to $10,000,000' while all othconnected with the bank are also wealthy. Mr. Ferguson was completeprostrated and a little while after the suspension his condition became such that medical attention was conidered necessary and Dr. Fox was ummoned. Soon afterward Mr. Ferrusor was taken home in Dr. Fox's riage. Every man in the crowd of oystanders had words of sympathy for he white-haired old man who went the bank with Alexander Mitchover fifty years ago. Other local banks were somewhat upon but easily met all demands. The trouble is thought to be over Bankhave long deemed the Marine bank haky, because of the close margin business it did. A speedy resumption expected. LATEST NEWS. Milwaukee, July 25.-The feeling is that the situation is now at its worst and that tomorrow will show a

3. August 24, 1893 Courier Democrat Langdon, ND
Article from Courier Democrat, August 24, 1893

Click image to open full size in new tab

Article Text

CAN TAKE ORE. Milwaukee, Aug. 17.-Judge Johnson, of the circuit court, has allowed Receiver Becker, of the Wisconsin Marine and Fire Insurance Company bank to take Tron ore on Lake Erie docks in settlement of $164,925.49 of Schlessinger & Co.Corrigan, Ives & Co. paper.

4. August 26, 1893 Mineral Point Tribune Mineral Point, WI
Article from Mineral Point Tribune, August 26, 1893

Click image to open full size in new tab

Article Text

Milwaukee, Aug. 22.-A statement of the condition of the Wisconsin Marine and Fire Insurance Company bank was filed with the clerk of the courts today by Washington Becker, the receiver. The statement is a general one and except as far as the list of stocks, bonds and mortgages is concerned gives the depositors precious little information regarding the character of the bank's assets, and as there is no list of the notes and discounted paper held by the bank, which forms by far the largest item in the statement of resources. The total assets as given in the statement, foot up $7,256,290, while the amount due to depositors, to banks and on bills payable and bills rediscounted is $6,710,374. There is a further liability to stockholders of $515,916, of which $500,000 represents the capital stock of the bank and the rest surplus. The text of the report states that on the 25th day of July,1893the resources and liabilities of the defendant, were: Resources -

5. September 9, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, September 9, 1893

Click image to open full size in new tab

Article Text

WANTS FIRST MONEY. Milwaukee A After the Defunct Marine Bank. MILWAUKEE, Sept. 8.-A very important matter in the Mitchell bank receivership will be argued extensively before Judge Johnson tomorrow. It is the request of the city attorney to have the city of Milwaukee declared a preferred creditor of the Marine bank on its deposites amounting to $1,600,000. There are any number of lawyers representing creditors of the bank who will oppose the city attorney's motion. All feel that to take out such an immense sum from the bank's assets will make a very serious inroad, and they do not want the city to have so much better a chance than other creditors. If the city be beaten it will probably begin an action against Senator Mitchell, as city attory

6. September 22, 1893 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, September 22, 1893

Click image to open full size in new tab

Article Text

THE MARINE BANK MUDDLE. Settlement at a Standstill Pending Supreme Court Action. Milwaukee, Sept. 18.-There was a brisk little argument before Judge Austin over the suit of Receiver Becker, of the Marine bank, against John Johnston for $150,000 alleged to be due on promissory notes to the bank. The complaint was served Aug. 8 and the time to answer would have expired August 23 had not Court Commissioner Harper issued an order upon the request of James G. Flanders, Mr. Johnston's attorney, extending the time to answer to September 12. On that day another extension of time was secured in the same manner, this time to October 2. Attorney Flanders has served notice upon Receiver Becker that he wishes to examine him under section 4096 of the statutes about the consideration of the notes upon which the suit is brought. Receiver Becker says that he is ready to be examined at any time, but that he believes the defendant is seeking delay, as the last extension of time prevents the case from being noticed for trial at the October term of the superior court. Upon the application of B. K. Miller, Jr., the receiver's attorney, Judge Austin fixed the time until which the defendant could answer as September 23, ordered the case to be put upon the October calendar and instructed the defendant to accept short notice of trial. Mr. Wilde, for Mr. Flanders, took exception to the ruling of the court, and asked that the amount of an undertaking on an appeal to the supreme court be fixed. Judge Austin remarked that the order was not appealable. Mr. Wilde seemed rather worked up about the matter and in a sharp tone requested the clerk to make a minute of his exception to the ruling. Judge Austin afterwards modified his order S0 that an appeal could be taken. He fixed the undertaking at $500. The appeal to the supreme court will pre-

7. October 10, 1893 Rock Island Daily Argus Rock Island, IL
Article from Rock Island Daily Argus, October 10, 1893

Click image to open full size in new tab

Article Text

ABBREVIATED TELEGRAMS. Franklin Simmons, the American sculptor, has about completed two statues in his studio at Rome. One is the model for John A. Logan's equestrian statue and the other a marble statue of General Grant. This latter will be placed in statuai hall in the Capitol. When William Hammer, of Peru, Ind., was assaulted by footpads at Galena, Ills., he drew a revolver, but failed in quickness; his gun was taken from him and he was seriously shot. Near Potter, Neb., Andrew Anderson attempted to reason with a man who made a practice of whipping his wife and was shot dead. The murderer, whose name is Miklund, is in jail. Robbers near Mascoutah, Ills., not only took all the money-a small amount-a farmer named Amos Carlin had about him, but deprived him entirely of sight by knocking out his single eye with a club. A British secret service officer has informed the government that the Clan-naGael has reorganized under Patrick Egan (late United States minister to Chili), as a result of the rejection of the home rule bill by the lords. The employe S of the Chesapeake, Ohio and Southwestern railway have accepted the 10 per cent. reduction in wages, and the men who went out when the reduction went into effect Oct. 1 have returned to work. Postmaster General Bissell, family and party are en route for Chicago and the World's fair. A dispatch from Rio Janeiro says the panic has subsided completely. Business is transacted freely and all the banks are open. The Cunard Steamship company will lay up the steamship Campania for a month this winter and have her altered in harmony with the plans of the Lucania. The South Baltimore works, car works company has been placed in the hands of receivers with assets of $617,000. The liabilities are said to be only $294,600. The Northwestern Miller reports the stock of wheat in private elevators of Minneapolis at 377,000 bushels, a gain over Oct. 2 of 160,000 bushels. A westbound train on the P., C., C. & St. Louis railroad struck and killed two men near South Charleston, O. One is about 55 years old and the other 27. The Huss Bros.' Manufacturing company, Cincinnati, have assigned to George Storey. Liabilities, $31,000; assets, $40,000. At Milwaukee the expectation now is that a dividend of the Plankinton bank assets will be declared by Assignee Plankington early in December. Judge Johnson has decided that the city of Milwaukee is a preferred creditor of the Marine bank, and that the county of Milwaukee is a preferred creditor of the Commercial bank. An order to that effect will be entered at once.

8. October 11, 1893 Rock Island Daily Argus Rock Island, IL
Article from Rock Island Daily Argus, October 11, 1893

Click image to open full size in new tab

Article Text

ABBREVIATED TELEGRAMS. Representative Breckinridge, of Kentucky, will have opposition in his own party next time he runs, and it looks as though that Miss Pollard case would retire him. The United States Glass company, employing 2,500 hands, has announced that it will hereafter recognize no labor unions. A receiver has been appointed for the American Ice company, a local ice trust a) Bangor, Me. Assets, $2,00,000; liabilities, $135,000. Obituary: At London, William Smith, L.L. D., the author of classical dictiouaries and histories. At Great Barrington, Mass., Mrs. Ann Hickey, aged 104. At Washington, J. Willis Menard, the first colored man to run for congress. Judge Johnson at Milwaukee has decided that John L. Mitchell and John Johnston are personally liable for the debts of the failed Marine bank. De France, under arrest at Detroit, has been identified by Lawyer Newman, of Chicago, as Lamb, the man who swindled him out of $35,000. Emma Goldman, the female anarchist, has been convicted at New York on the charge of attempting to incite to riot. The Republican congressional campaign committee has organized by selecting John A. Caldwell, of Cincinnati, chairman; J. W. Babcock. of Wisconsin, vice chairman; S.S. Olds, of Michigan, secretary, and T. H. McKea, of Indiana, assistant secretary. The committee will open up headquarters in Washington at once. At Olneyville, near Providence, R. I., a strike against reduction in wages has closed all the woolen mills, employing some 7,000 persons, and threatens to extend throughout the state. A fire in the basement of the State capitol, at Madison, Wis., did little damage, but was evidently the work of an incendiary. The forgeries of Charles T. Walter, of St. Johnsbury, Vt., now amount to $11,000, and his personal debts are about $75,000. Judge Hazen dissolved the injunction brought against the Topeka club which had been enjoined because its members kept liquors in individual lockers. Some doubt having been expressed as to the Jewish origin of the late Dr. Schnitzer, known as Emin Pasha, the Jewish Chronicle, of London, has made inquiries and prints the record of Emin's birth, preserved in the synagogue of Oppelu, in Prussia. The officials of Michigan are investigating the Mansfield mine disaster in which the Michigamme river flooded the mine, drowning twenty-seven workmen. Governor Altgeld, of Illinois, has laid the cornerstone of a building in Lincoln park, Chicago, for the Chicago Academy of Sciences, which for many years has had a fine collection of bones and things with no place to put them.

9. October 12, 1893 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, October 12, 1893

Click image to open full size in new tab

Article Text

Milwaukee, Oct. 4.-Matters look very much as if there would be a reorganization of the Marine bank. Senator Mitchell, accompanied by his wife and his attorney, were at the Great Northern hotel in Chicago yesterday afternoon. where they met John Johnston and his attorney, and Receiver Washington Becker, for consultation with regard to the proposed reorganization and resumption. George Hiles, one of the large creditors of the bank, was accidentally at the hotel and was in the room both previous and subsequent to the meeting, in which, however, he took no part. It was necessary to terminate the meeting early last evening, because Mr. Mitchell received a telegram from Vice-President Stevenson urging him to return to Washington as soon as possible for the reason that the senate was likely to find itself without a quorum. Mr. Mitchell accordingly left for Washington last night, but he will return again in a short time to confer on the subject again. In the meantime the creditors and others whose consent to the reorganization scheme is necessary will be seen and an effort will be made to get the project fairly on foot. Messrs. Johnson and Hiles state that those who attended the meeting did not get to the point of agreeing upon a definite proposition to be made to the creditors, but that the general sentiment of the conference was extremely favorable to reorganization. "It was just a friendly conference," Mr. Johnston said, " and we can't tell yet what will be done. The plan is not to revive the Wisconsin Marine & Fire Insurance Company Bank, but to organize a new bank which shall assume the liabilities of the old one. George Hiles says that as he understands the plan it is for Messrs. Mitchell and Johnston to put up mortgages to the amount of not less than $1,600,000, which mortgages may be used as security to obtain advances of cash

10. October 19, 1893 The Farmers' Union Memphis, MO
Article from The Farmers' Union, October 19, 1893

Click image to open full size in new tab

Article Text

FINANCIAL AND INDUSTRIAL -The Sheriff has closed the works of the Birdsall Company at Auburn, N. Y., on an execution for $165,000 -Employes of the Chesapeake and Ohio and Southwestern Railway have accepted the 10 per cent. reduction in wases, and the men who went out when the reduction went into effect. Oct. 1. have returned to work -A receiver has been appointed for the American Ice C, mpany. a local ice trust at Bangor, Me. Assets, $200.000: liabilities, $135,000. -The South Baltimore (Md.) Car Works have been placed in the hands of receivers. Assets are given as $617,000 and liabilities $294.000. -Judge Johnson. at Milwaukee. has decided that John L Mitchell and John Johnston are personally liable for the debts of the failed Marine Bank. -At Indianapolis, the Court decided Iron Hall Receiver Failey acted right in placing the funds at interest -War in the Order of Railway Telerraphers is on again by an Omaha appointment. pposed by Chief Ramsav. -R G. Dun & Co.'s Weekly Review of Trade sums up the situation as follows: 12 is difficult to detect any signs of improvement. While there have been some additions to the number of manufacturing establishments and the number of hanus at work during the last week, It 16 becoming painfully clear that the orders obtained do not suffice to keep employed at fuil time even the limited force at present engaged. There is on the whole les, confidence regarding the future than there was a week ago. There is not such encouragement as might be desired in the industrial reports for the week. Failures continue to decrease in number and importance. though not as much as has been hoped. The movement of wheat has been fairly large and the price has declined about 2 cents, while corn has also yielded about 1 cent. Corton is a quarter higher without distinct reasons in crop prospects, and pork products are also somewhat higher. pork being 75 cents per barrel. It is possible that the surplus currency in circulation has its natural effect in stimulating speculative activity. Happily the changes thus far have not diminished the exports of products, which continue fairly large.

11. November 6, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, November 6, 1893

Click image to open full size in new tab

Article Text

The Sheriff Gets It. MILWAUKEE, Wis., Nov. 4.-The establishment of James Morgan & Co., one of the largest retail dry goods firms in the West, is in the hands of the sheriff on an execution issued in favor of the receiver of the Wisconsin Marine and Fire Insurance Company bank for $30,000.

12. November 9, 1893 The Sun Morris, MN
Article from The Sun, November 9, 1893

Click image to open full size in new tab

Article Text

BRAZILIAN FLEET. New York, Nov. 6.-Dr. Salvadore de Mendonca, the Brazilian minister, arrived at the Hotel Brunswick from Washington yesterday. He received many visitors during the day, including the representative of a big Western iron house, who is desirous of fitting out the fleet which is being organized here to fight the rebels. IN THE SHERIFF'S CARE. Milwaukee, Nov. 6.-The establishment of James Morgan & Co., one of the largest retail dry goods firms in the West, is in the hands of the sheriff on an execution issued in favor of the receiver of the Wisconsin Marine and Fire Insurance Company bank for $30,000.

13. November 9, 1893 Reporter and Farmer Webster, SD
Article from Reporter and Farmer, November 9, 1893

Click image to open full size in new tab

Article Text

IN THE SHERIFF'S GARM. Milwaukee, Nov. 6.-The establishment of James Morgan & Co., one of the largest retail dry goods firms in the West, is in the hands of the sheriff on an execution issued in favor of the receiver of the Wisconsin Marine and Fire Insurance Company bank for $30,000.

14. December 27, 1893 The Advocate and Topeka Tribune Topeka, KS
Article from The Advocate and Topeka Tribune, December 27, 1893

Click image to open full size in new tab

Article Text

committee will make a personal investigation of the suffering. * * "The Chapin mine is in the hands of a receiver, and the Marine bank of Milwaukee, which is itself in the hands of a receiver, will not be in a position to re8 ime business before January 15. The bank has 88 collateral security 60 per cent. of the stock of the Chapin mine, 80 that even though orders for ore should be received now there is no one in shape to operate the great mine. The bank certainly will not, and the Chapin can hardly be resumed until some sale of its stock held by the bank is made. The Ludington and Hamilton are still filled with water and it would take some time after the water is taken out to put them in shape to be mined. The Pewabic is the sole support of the town now, and it only employs 250 men part of the time at half wages. The effect of the work of the Michigan relief committee has been pronounced here. As the gentlemen were leaving, prominent citizens in expressing their thanks said that the promised relief had averaged trouble as serious as starvation. There has already been one demonstration on the streets that was portentous of violence. About 600 men marched up and down the streets one afternoon crying that they wanted bread or work. They stopped in front of the poor commissioner's office and ugly speeches were made. There can be no doubt but that if these miners are permitted to get hungry they will loot the town if not held in check by the militia."

15. January 12, 1894 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, January 12, 1894

Click image to open full size in new tab

Article Text

resuming, Senator Mitchell was unable to state. He had just arrived in the city and pleaded ignorance of the later action of the receiver, as he had not time to infrom himself. He expressed the hope that the bank would open. Senator Mitchell did not have much to say regarding the Wilson bill. It. had its friends and its enemies, the number of each tallying very equally with the representation of both parties. The bill, he thought, would not reach the senate for some time, and many changes would possibly be made be, fore it was finally passed. Wednesday will decide the fate of the Marine bank. Receiver Washington Becker stated this morning that If all of the extensions were not in at that time it would be impossible for the bank to resume, according to the plan outlined in his letter to the depositors. Receiver Becker also stated that if the plan failed there would be no further attempt made to reopen the bank. He had done all that was possible, and if the depositors were not willing to aid him, the project must go under. Attorney Alfred Cary, Mr. Becker's legal adviser, confirmed the statement of Mr. Becker. "Yes," said he, "Wednesday is the day. If all the extensions are not in by that time we will give up. In fact, we are simply forced to, as there will not be the necessary time to make the arrangements before the 15th, as named in the letter of the receiver to the depositors." Since the second letter of Mr. Becker to the depositors not more than $200,000 or $30,000 has come in, leaving creditors representing in the neighborhood of $800,000 still to be heard from. It may be possible that the holders of this will agree to the extension before Wednesday but it is considered hardly possible. A. meeting of the stockholders and business men of the city was held at the bank this morning and an attempt will be made to bring in all of the creditors. The prospect of failure of the plan of resumption is a matter of considerable regret among merchants and large depositors. The resumption of the bank would insure the payment of their claims in full, while if the plan fails it is thought that that bank will hardly be able to pay more than 50 cents on the dollar. Judge Johnson rendered an important decision-important to all concerned in the Milwaukee banks which have failed-at the opening of court, this fornoon. An assignee of a bankrupt house had deposited money in the Marine bank shortly before the bank closed. He wanted his money returned to him, claiming that the deposit was a trust fund. Judge Johnson overruled the motion. Had he granted it and

16. January 18, 1894 Eagle River Review Eagle River, WI
Article from Eagle River Review, January 18, 1894

Click image to open full size in new tab

Article Text

-J. D. Day, of Rhinelander, transacted business in this city Friday. -For Coughs and Colds use Sanguen aria Balsam. For sale by F, Beardsley -Mine Host Deckert reports the hotel business as very good these days. -Tim Lennon, a Rhtnelander woodsman, was in town Tuesday and Wednesday. -Mrs. Peter Stein left, Friday, for Oshkosh to have her baby boy doctored for a rupture. -Fanny, the second child of Mr. and Mrs. John Carson, has been quite sick for several_days. -Ex-Sheriff Hunter, of Merrill came up, Tuesday. to look after his logging interests near here. -Sheriff Ed Brazell spent a couple of days the fore part of the week at his camp near Conover. -H. N. Jewell, the Antigo sewing machine man, did business in town Monday and Tuesday. -Everybody who owns a rig or could get one were out Sunday enjoying the fine drive on Silver lake. -Mrs. Mathews and family left. Friday. for Appleton where they will spend a little time visiting. -Henry O'Connor came over from Rhinelander, Saturday, to spend a iew days with relatives in this city. -Pain Expeller for neuraliga and headache gets there every time. Put up and for sale by F. Beardsley -Sheriff Sells went to Rhinelander, Friday, to return John Shannon and John O'Neil to the jail in that city. -P. W. Nicholds, who has been assisting Clerk of Court Neville, left for his home at Rhinelander, Tuesday. -If the soft weather of the present week continues much longer it will seriously interfere with logging operations. -Grant Cook has been engaged to teach the Three Lakes school and left Saturday for that place to begin his work. -While court was in session last week we noticed one fault in the court house. The court room was hardly large enough. -John Lauson. of Rhinelander. spent a few days in town the fore part of the week taking orders for W. L. Beers & Co., clothiers. -Cash Smith, of the Rib River Lumber Co., came up from Antigo Monday to look after his company's logging interests. -Last Tuesday evening Prof. Cross, of the High School organized a class in penmanship. They will meet in the school building. -Mrs. Tillie Donnelley. a former resident of this place, is visiting her mother, Mrs. Ann O'Connor. She arrived Saturday. -The Marine Bank, of Milwaukee, the oldest in the state, which failed during the panic last summer, opened up again Monday. -F. W. McIntyre is hauling stone for his new residence which he intends erecting as soon as the weather will permit in the spring. -Mrs. Geo. Radford, of Interior, Mich., spent a few days with friends in town, the latter part of last week, returning home Saturday. -The republicans of Iowa nominated Ex-Congressman John H. Gear for the United States Senate and he was elected yesterday on joint ballot. -"A little two by four democratic newspaper printed up north" is the the Antigo Republican refers to way our esteemed contemporary, the Democrat. -By the courtesy of Mart Hirzell the editor and his family enjoyed a very for pleasant sleigh ride, Sunday, and and a while forgot all about hard times unpaid bills. -In another column will be found an article clipped from the Rhinelander we 1000 Herald which contains the ever first saw good in a

17. January 19, 1894 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, January 19, 1894

Click image to open full size in new tab

Article Text

ASSIGNEE DISCHARGED. Milwaukee, Jan. 13.-Capt. Irving M. Bean. assignee for John Johnston. was discharged by an order of Judge Johnson this n'orning. This is in line with the discharge of the receiver for the Marine bank. The order provides that all property be returned to Mr. John. ston.