Faribault County Bank (Winnebago, MN)

Episode Information

Episode UID
7147849491240
Episode Type
Run → Suspension → Unsure
Bank Type
state
Bank ID
714784949 hash
Start Date
April 24, 1903
Location
Winnebago, Minnesota (43.768, -94.166)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
5b024ac280a0c37e

Response Measures

None

Description

Suspension notice posted June 9, 1903; articles do not report a reopening or receiver assignment.

Events (3)
1. April 24, 1903 Run
Cause
Rumor Or Misinformation
Cause Details
Disappearance of cashier S. S. Secor triggered depositor nervousness and withdrawals.
Measures
First National (President Eygabroad) offered to cash all checks and paid a bonus to stem withdrawals.
Newspaper Excerpt
An incipient run was promptly quieted as soon as the facts were ascertained.
Source
newspapers
2. June 1, 1903* Run
Cause
Rumor Or Misinformation
Cause Details
Ongoing effects of the cashier's disappearance led to renewed runs (reported as having started weeks earlier).
Measures
Correspondent bank assistance (cashing checks) to reassure depositors.
Newspaper Excerpt
When it became known that young Secor had disappeared a run was started on the bank, and at that time President Eygabroad of the First National came to its rescue
Source
newspapers
3. June 9, 1903 Suspension
Cause Details
Bank suspended payments due to inability to meet current obligations after the disturbances related to the cashier's disappearance.
Newspaper Excerpt
A combination of circumstances resulting in a disability to meet current obligations makes it necessary for this bank to suspend payment during the time of readjustment of its business affairs.
Source
newspapers

Newspaper Articles (3)
1. May 4, 1903 The Minneapolis Journal Minneapolis, MN
Article from The Minneapolis Journal, May 4, 1903

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Article Text

SECOR'S DISAPPEARANCE: Winnebago City Cashier Was Last Seen in Milwaukee. WINNEBAGO CITY, MINN.-The deepest mystery still surrounds the disappearance of S. S. Secor, cashier of the Faribault county bank of this place. On Friday evening, April 24, he left home for Milwaukee on a business trip, expecting to return the following Monday. He registered at the Plankinton hotel early Saturday morning and stepped out. since when nothing has been seen or heard of him. His grip was found at the hotel and the police and detective department of Milwaukee and Chicago have been working on the case, but so far not the slightest clue has been found. The books and business of the bank have been thoroly checked over and found to be in excellent shape. An incipient run was promptly quieted as soon as the facts were ascertained. The Secor family has resided here for fifteen years, and is wealthy and prominent in business and social matters.

2. June 12, 1903 The Mankato Free Press Mankato, MN
Article from The Mankato Free Press, June 12, 1903

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Article Text

WAS NOT SECOR'S BODY. Dr. Beebe Declares Dead Man Not That of Winnebago Banker. From Wednesday's Daily. Stanley S. Secor's body is not lying in a morgue in Chicago. The dead man found a few days ago in that city is not the late cashier of the Faribault County bank at Winnebago City which closed its doors yesterday morning. Dr. Beebe who went to Chicago to examine the teeth of the dead man for the purpose of identification, telegraphed to the family of Mr. Secor that the remains were not those of the missing man. Dr. Beebe was positive in his declaration that the dead body was not that of Mr. Secor. The whereabouts of Mr. Secor remain as much of a mystery to the general public as ever. There are people in Winnebago who believe that Secor will show up in due time. They are of the opinion that he is in the land of the living, sound and well. The story is told that a number of years ago Secor disappeared mysteriously and for a long time no trace of him was found. Finally he was located in Illinois, working in a coal mine. I There are no new developments in regard to the closing of the banks at Winnebago City and Delevan. The latter bank was controlled by David Secor, father of Stanley. The following notice was posted on the bank door: Winnebago City, June 9.-A combination of circumstances resulting in a disability to meet current obligations makes it necessary for this bank to suspend payment during the time of readjustment of its business affairs. Creditore will be protected with the bank resources and by the personal and individual owners.

3. June 12, 1903 The Mankato Free Press Mankato, MN
Article from The Mankato Free Press, June 12, 1903

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Article Text

Dead Man Found in Chicago May Be Winnebago Banker. Parties Go to Windy City to Examine the Remains. Faribault County Bank Fails to Open Its Doars Today. Embarassment May Be But Temporary---Run Started Weeks Ago. From Tuesday's Daily. It was reported to The Free today that the Faribault County bank at Winnebago City failed to open its doors this morning for business. Whether the embarrassment is temporary or permanent is not known, but it is presumed that it will be but a temporary affair. The Fairbault County bank is a private financial institution owned by Davis Secor, he being the president. His son, S. S. Secor, who mysteriously disappeared while in Milwaukee a few months ago, was the cashier. When it became known that young Secor had disappeared a run was started on the bank, and at that time President Eygabroad of the First National came to its rescue, offering to cash all checks, and paying a bonus. David Secor was at that time en route to Winnebago City from South America where he had been on a trip. Meanwhile the affairs of the bank were examined and found to be in first class condition and Mr. Secor's disåppearance had nothing to do with any supposed crookedness, because there was nothing of the latter. When he departed from Winnebago City, Mr. Secor took with him but a small amount of money and expected to return after a few days' leave. He was last seen standing in front of the Plankinton hotel in Milwaukee. A dead body is now lying in the morgue at Chicago and it is suspected that it is that of S. S. Secor. Dr. Beebe and another Winnebago gentleman have gone to Chicago to make an examination of the remains to determine whether they are those of the missing man. Dr. Beebe hopes to identify the body by the teeth, he having performed dentistry on Mr. Secor's teeth in years past.