First National Bank & Trust Company (Baraboo, WI)

Episode Information

Episode Type
Suspension → Closure
Start Date
March 4, 1933
Location
Baraboo, Wisconsin (43.471, -89.744)
Bank Type
national
Charter Number
3609
Alt. names
First National Bank

Metadata

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1933-09-11
Date receivership terminated
1937-11-24
Share of assets assessed as good
55.3%
Share of assets assessed as doubtful
43.1%
Share of assets assessed as worthless
1.5%

Notes

Receivership is indicated by 1935 articles; known receivership date (1933-09-11) used as closure date.

Events (4)

1. December 22, 1886 Chartered
Source
historical_nic
2. March 4, 1933 Suspension
Cause
Government Action
Cause Details
Statewide bank holiday and de facto national banking moratorium following federal/state actions in early March 1933.
Newspaper Excerpt
Banks of this city and Wisconsin are making plans to reopen next week...the fourteen day bank holiday proclaimed by Gov. R. G. Schmedeman remains in effect.
Source
newspapers
3. September 11, 1933 Receivership
Newspaper Excerpt
peremptory writ of mandamus directing State Treasurer Robert K. Henry to surrender $80,200 of assets of the First National Bank and Trust Company, Baraboo, to the bank's receiver.
Source
newspapers
4. September 11, 1933 Receivership
Source
historical_nic

Newspaper Articles (4)

Article Text

EVERY STATE JOINS IN MOVE TO SAVE BANKS Take Holiday or Impose Restrictions. Wilmington, Del., March 4.—(AP)—Delaware, the last of the nation's 48 states not under some form of banking restriction, declared a bank holiday tonight, effective Monday and continuing "until further notice." Harold W. Horsey, state banking commissioner, said Gov. C. Douglas Buck had directed him to notify all banks in the state as follows: "Not because of anything that has occurred in Delaware, nor any condition existing here, but wholly because of the action of practically all the other states in declaring a bank holiday and the observance thereof by the Federal Reserve bank, this bringing about a temporary suspension of banking business over the country, I am left with no alternative but to take action to protect Delaware banks and their depositors." Wisconsin Plans Reopening. Milwaukee, Wis., March 4.—[Special.]—Banks of this city and Wisconsin are making plans to reopen next week, but on what day had not been determined tonight. In Madison, Banking Commissioner Arthur C. Kingston said that a plan has been devised for reopening Wisconsin banks Monday morning, although he withheld details of the plan pending an expected announcement from President Roosevelt at Washington on the banking situation. On the other hand, Walter Kasten, president of the First Wisconsin National bank, and also a member of a committee appointed by the Milwaukee Clearing House association to work out a plan, said the Milwaukee banks will not reopen until Wednesday at the earliest, and then probably will operate under a scrip plan similar to that used in 1907. In the meantime the fourteen day bank holiday proclaimed by Gov. R. G. Schmedeman remains in effect. No Holiday in Indiana. Indianapolis, Ind., March 4.—[Special.]—Indiana banks, under the new bank code law recently rushed through the state legislature, have the power to limit withdrawals to one-tenth of 1 per cent. Therefore, no state-wide bank moratorium will be declared in Indiana Gov. Paul V. McNutt today informed state officials from Washington, where he attended the inauguration. Indianapolis banks today continued to pay 5 per cent on both savings and checking accounts, and 100 per cent on deposits made since they declared a 5 per cent withdrawal limitation last Monday. A few upstate banks have limited withdrawals to 2 per cent. Plan Michigan Reopening. Detroit, Mich., March 4.—[Special.]—There was an easing up of banking anxieties in Detroit because of the action of the state legislature on relief bills which are scheduled to be passed on Monday. They should become laws not later than next Saturday and thereby permit banks to re-open and permit another withdrawal of funds in amounts yet to be decided upon. Operations in Detroit will be immediately resumed by the First National bank and the Guardian National Bank of Commerce. Iowa Proclaims Holiday. Des Moines, Ia., March 4.—[Special.]—Lieut. Gov. N. G. Kraschel today ordered a banking moratorium effective at once. In his proclamation the lieutenant governor set no definite time, declaring only "a temporary banking holiday mandatory for all Iowa banks, savings banks and


Article Text

ORDERED TO SURRENDER $80,200 OF ASSETS MADISON, Wis., June 17,—Circuit Judge A. C. Hoppmann today issued a peremptory writ of mandamus directing State Treasurer Robert K. Henry to surrender $80,200 of assets of the First National Bank and Trust Company, Baraboo, to the bank's receiver. The assets, including Home Owners Loan Corporation, and Federal Farm Mortgage Corporation bonds, and real estate mortgages, had been filed with the treasurer as an indemnity fund. They were ordered returned to the receiver for liquidation. READ THE FREEMAN DAILY.


Article Text

Adolph Birrenkott, Pioneer Resident of Dane Co., Dies Adolph Birrenkott, 80, of 530 Maple ave., for 12 years a resident of Madison and a former member of the Dane county board, died Sunday at a Madison hospital after a short illness. Mr. Birrenkott, a pioneer of the county, represented both the town and the village of Cross Plains as a member of the county board. Mrs. Birrenkott died seven years ago. Survivors are seven children, Mrs. Lawrence J. Bowar, Cross Plains; Mrs. Arnold H. Marking, Klevenville; Michael J., 314 S. Orchard st.; Mrs. John P. Cunnien, 2320 Lakeland ave.; Mrs. Ben Stitgen, 530 Maple ave.; Mrs. William Ballentine, 1042 Erin st.; and Verner A., 122 N. Bassett st., and a brother, Peter, Faulkton, S. Dakota. Funeral services will be held at the home of his daughter, Mrs. Stitgen, at 530 Maple ave., Wednesday at 9:30 a. m. and at St. Mary's church, Pine Bluff, at 10:30. License Committee Will Meet Tonight The council license committee will meet tonight to consider applications for beer and liquor licenses. It is expected that the committee will take several nights to scrutinize all applications carefully. License fees must be paid for not later than Thursday. If the fees are not paid, the licenses will not be granted. Henry Ordered to Yield Bonds A peremptory writ of mandamus was issued today in circuit court directing State Treasurer Robert K. Henry to surrender assets held by his office for the First National Bank and Trust co., Baraboo, to the


Article Text

Orders Funds Returned To Receiver Madison—(UP)—Circuit Judge A. C. Hoppmann today issued a peremptory writ of mandamus directing State Treasurer Robert K. Henry to surrender $80,200 of assets of the First National Bank and Trust company, Baraboo, to the bank's receiver. The assets, including Home Owners Loan corporation, and federal Farm Mortgage corporation bonds, and real estate mortgages, had been filed with the treasurer as an indemnity fund. They were or-