North Western National Bank (Superior, WI)

View Charter #4878 on SPMC View balance sheet

Episode Information

Episode UID
487801166
Episode Type
Suspension β†’ Closure
Bank Type
national
Bank ID
48780 national
Charter Number
4878
Start Date
February 13, 1897
Location
Superior, Wisconsin (46.721, -92.104)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
29413433d3435f87

Response Measures

None

Description

Article says the bank was placed 'in other hands' and applied for a receiver; unclear if a receiver was formally appointed.

Events (3)
1. May 2, 1893 Chartered
Source
historical_nic
2. February 13, 1897 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Management removed and heavy creditor exposure related to the State Trust & Savings Bank; bank placed in other hands and applied for a receiver.
Newspaper Excerpt
which is placed in other hands and which immediately applied for a receiver.
Source
newspapers
3. October 7, 1902 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)
1. February 15, 1897 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, February 15, 1897

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Article Text

The State Trust and Savings Bank. capital $25,000, of West Superior, Wis., suspended. Saturday, going into the hands of W. H. Slack as receiver, on application of the Northwestern National Bank, a creditor to the extenΕ£ of $24,000. The State Trust and Savings Bank was owned by Homer T. and Walter Fowler, who have just been removed from the management of the big Northwestern National Bank, which is placed in other hands and which immediately applied for a receiver. The liabilities are placed at $40,000 and assets $25,000, but the bank's books show $78,000 liabilities and some assets in which the Northwestern National is the only secured creditor. The bank had sustained a run for weeks and had only $200 left.

2. February 15, 1897 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, February 15, 1897

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Article Text

In a Receiver's Hands. West Superior, Wis., February 13.-The State Trust and Saving bank, capital $25,000, suspended this morning, going into the hands of W. H. Black as receiver, on application of the Northwestern National bank, a creditor to the extent of $24,000. The State Trust and Savings bank was owned by Homer T. and Walter Fowler, who have just been removed from the management of the big Northwestern National bank, which is placed in other hands and which immediately applied for a receiver. The liabilities are pledged at $40,000 and assets $25,000.