German American Bank (St Paul, MN)

Episode Information

Episode Type
Run → Suspension → Reopening
Start Date
July 1, 1893*
Location
St Paul, Minnesota (44.944, -93.093)
Bank Type
national

Metadata

Notes

The articles explicitly link the suspension to a lack of 'cool sense' among depositors, which is a common historical euphemism for a bank run.

Events (3)

1. July 1, 1893* Run
Cause
Rumor Or Misinformation
Cause Details
Lack of confidence or 'cool sense' among depositors leading to withdrawals.
Newspaper Excerpt
If the depositors had possessed a little good, cool sense, the bank would not have suspended.
Source
newspapers
2. July 1, 1893* Suspension
Cause
Rumor Or Misinformation
Cause Details
Suspended following depositor withdrawals during the Panic of 1893.
Newspaper Excerpt
The German-American Bank of St. Paul will resume business in a few days. ... the bank would not have suspended.
Source
newspapers
3. October 23, 1893 Reopening
Newspaper Excerpt
Arrangements have been about completed for the reopening of the St. Paul German American bank Monday. [Oct 23, 1893 based on publication date Oct 19, 1893 Thursday]
Source
newspapers

Newspaper Articles (3)

Article from St. Paul Daily Globe, August 21, 1893

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Article Text

STATE PRESS NOTES.

The St. Paul GLOBE shows some regard for country papers. The GLOBE knows which side its bread is buttered on.-West Duluth Sun.

There has been a policeman discharged at St. Paul for taking a nap on his beat. The officials over there are getting particular.-Stillwater Gazette.

Denver papers say they have no confidence in the present congress. On the other hand, congress says that it has no confidence in the Denver papers-Fisher Bulletin.

The entire state of Minnesota is proud of the St. Paul Boat ciub, that bore that proud name to such grand victories in the recent international rowing regetta at Detroit, Mich.-Lake Crystal Mirror.

Prof. J. T. McCleary has announced his intention to speak on the silver question. If he will stop when he has told what he knows about it, he will not take long.-St. Peter Herald.

It is folly for Republican papers to allege that the panic of the present is caused by anything the Democratic party has done since it came into power, because it has legislated not at all.-Hutchinson Leader.

The German-American Bank of St. Paul will resume business in a few days. If the depositors had possessed a little good, cool sense, the bank would not have suspended. St. Louis Journal-Press.

In the present time of need, it is pleasant to see Republicans and Democrats working together in the effort to restore confidence and revive business. As much cannot be said of the Populist cranks in congress. - Appleton Press.

One of the Denver banks that suspended business recently resumed yesterday. The German-American Bank of St. Paul will reopen its doors Sept. 6. These are good signs that the financial world is experiencing a decided improvement.-Duluth Herald.

Talk about calamity howlers. Why the Republicans are ar improving their short opportunity to attribute everything evil to the fact that there has been a change in the administration. If a change has this effect, we had better keep the Democrats in a good while, now that they are in.-Buffalo Gazette.

Nathan Myrick, of Si. Paul,one of the oldest pioneers of the Northwest, celebrated his golden wedding in the city on the 17th inst. The St. Paul GLOBE prints a list of the invited guests on that eventful occasion, which occupies names to the extent of two columns.-Winona Herald.

Just as soon as everybody reaches the conclusion, as they must sooner or later, that the financial stringency is but a bogy man of the imagination, it will go the way of the other bogy man. It is in the power of congress to greatly aid the people in reaching that conclusion.-West Duluth Sun.

Congress is "all at sea" on the financial question. There appears to be no end to the "theories" entertained, but when it comes down to facts that count on the side of "confidence restored," the present grist of national Sotons are "not in it," to any great extent.-Renville Times.

Less attention is being paid to the silver speeches than to the results of the ball games. The people don't want to read speeches; they are anxious for the vote which is promised on the 28th, and they want that vote to be sufficiently large to do away with the free silver question.-Stillwater Gazette.

As oarsmen, the Minnesota boys now are champions of America. What an inducement to establish colleges out here where the cyclone and chinook wind play tag with each other while they are imparting some of their strength to the muscles of Minnesota's brawny sons.-Litchfield News-Ledger.

The rumor that the elevator companies would be compelled to buy wheat this fall on thirty days' time was just a bit of harmless "joshing" by some financial wag. The ten millions necessary to remove the crop of the Northwest will be in the hands of elevator agents in the next ten days.-Ortonville Star-Herald.

We find it difficult to enthuse over the clearing-house plan of moving the crops. Perhaps it is because it brings the monetary difficulty so near home! For so staple a commodity as wheat it would seem as if current coin and notes might be obtained by good parties at a moderate brokerage.-Glyndon News.

Once in a while there is a dishonest bank, as there are dishonest individuals and firms in all the walks of life, but there are no more of them than have always existed. Money is plenty and deposits are safe, absolutely safe in the national banks, and the man who draws out his money, except to meet payments and do business, is only delaying the hour when full confidence shall be restored.-Faribault Democrat.


Article from The Representative, October 18, 1893

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Article Text

MINNESOTA NEWS

The state university enrollment is 1,297. The Verndale Journal has moved to Wadena. The Waterville Gaztte, a Populist organ, has suspended. Prairie fires have destroyed a large amount of hay and grain near Slayton. Armour & Co., the big meat firm of Chicago, have opened a branch house at Winona. There are 1.200 children in the First ward of St. Paul for whom there are no school facilities. The large new Catholic church at Moorhead was dedicated Sunday by Bishop McGolrick. Louis Stern of the St. Paul Volkszeitung has been appointed consul at Bomberg, Bavaria. Colonel W. H. H. Taylor, state librarian, is very low and his death is expected at any time. Indignant neighbors set fire to a low dance house near North Redw ood and it was totally destroyed. The three men who are alleged to have robbed the Halsted bank have been captured in Wisconsin. Rich deposits of iron ore have been discovered near Washington bay, about 20 miles east of Grand Marais. Arrangements have been about completed for the reopening of the St. Paul German American bank Monday. The Minnesota university foot ball team defeated the team from the Kansas university by a score of 12 to 6. Three trainmen on the Wisconsin Central at North St. Paul were held up and robbed of money and watches. Fred Koester, living three miles east of Dundas, was gored by a mad bull and so badly mangled that he will die. The $9,000 appropriated by the City of St. Paul for the unemployed will be spent on the streets on half time work. Railway mail service has been established from Allen Junction to McKinley on the Duluth and Iron Range road. Frank Montrett was sentenced to one year and five days in state prison for introducing liquor on the Fond du Lac Indian reservation. The barn on Stoddard Bros.' farm near Jackson burned with 12 head of cattle, five horses, 50 tons of hay and 400 bushels of grain. Loss $4,000. A brilliant meteor passed over Rushford Sunday evening and exploded with a terrific report a mile west of there. Its brilliancy exceeded that of a powerful search light. The armory building of Shattuck school at Faribault with all its contents was totally destroyed by fire Wednesday night. Loss over $25,000. It will be rebuilt. J. Fletcher Williams, until recently secretary of the State Historical society, is quite ill and there is little prospect that he will ever again be able to resume active duties. The English syndicate which has been working the Isle Royale copper mines the past summer has suspended operations for the winter. Its labors have not been rewarded with the success expected. The dry house of Schoosh & Ahrens, sash and door manufacturers at Winona, was destroyed by fire Wednesday for the second time within a year. Thirty-five cars of manufactured lumber were burned. The state agricultural school has opened with 60 students and more are expected. One of the students is a young man from Japan, the son of a farmer, who will return to Japan after completing his agricultural education. Three of the four prisoners in the county jail at Wheaton escaped Monday night. They sawed off the bars of their cell with a steel shoe spring, and then dug a hole through the outer brick wall with a stove poker. The sheriff offers a reward of $35 for each the escaped prisoners. Frank Birkenmeyer, a Democratic aspirant for the Redwood postoffice, made an assault on Editor Schmal of The Gazette in consequence of an article in The Gazette. The fight lasted two minutes, when Birkenmeyer was completely knocked out. He is badly bruised, but the editor turned up without a scratch.


Article from The Redwood Gazette, October 19, 1893

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Article Text

MINNESOTA NEWS.

The state university enrollment is 1,297.

The Verndale Journal has moved to Wadena.

The Waterville Gazette, a Populist organ, has suspended.

Prairie fires have destroyed a large amount of hay and grain near Slayton.

Armour & Co., the big meat firm of Chicago, have opened a branch house at Winona.

There are 1,200 children in the First ward of St. Paul for whom there are no school facilities.

The large new Catholic church at Moorhead was dedicated Sunday by Bishop McGolrick.

Louis Stern, of the St. Paul Volkszeitung has been appointed consul at Bomberg, Bavaria.

Colonel W. H. H. Taylor, state librarian, is very low and his death is expected at any time.

Indignant neighbors set fire to a low dance house near North Redwood and it was totally destroyed.

The three men who are alleged to have robbed the Halsted bank have been captured in Wisconsin.

Rich deposits of iron ore have been discovered near Washington bay, about 20 miles east of Grand Marais.

Arrangements have been about completed for the reopening of the St. Paul German American bank Monday.

The Minnesota university foot ball team defeated the team from the Kansas university by a score of 12 to 6.

Three trainmen on the Wisconsin Central at North St. Paul were held up and robbed of money and watches.

Fred Koester, living three miles east of Dundas, was gored by a mad bull and so badly mangled that he will die.

The $9,000 appropriated by the City of St. Paul for the unemployed will be spent on the streets on half time work.

Railway mail service has been established from Allen Junction to McKinley on the Duluth and Iron Range road.

Frank Montrett was sentenced to one year and five days in state prison for