Bank of River Falls (River Falls, WI)

Article Text

Our Banks All Right

The report that the Hudson Savings Bank closed its doors on Friday of last week, caused some alarm among the depositors of the Bank of River Falls, and many of them withdrew their deposits on Saturday morning. There was not the slightest reason for this alarm, as the Bank of River Falls has at all times done a prosperous business and has been exceedingly cautious in making its loans. This is to its credit and a guarantee of soundness to its stockholders and depositors. It is safe to say that the deposits in the bank were as safe on Saturday as they have been on any day during the nineteen years of its existence. But the feeling of uncertainty as to the future now pervading the whole country, together with the closing of the Hudson bank was too much to withstand by persons otherwise cool and considerate in their business affairs. The business men of the city stood by the bank to a man. Not one withdrew his deposits. On the contrary they made deposits during the day to aid the bank to weather out the storm. It is unnecessary to say that even if the alarmists had succeeded in closing the doors of the bank, they would only have delayed the payment of their certificates until such time as the bank could make collections. As it was the bank netted some $400 in interest which depositors in their madness threw away. Four hundred dollars net earnings in one day is pretty good for a country bank. A slight run was also made on the Farmers & Merchants Bank, but that institution is young, has consequently fewer deposits, and the stacks of money in sight soon reassured the nervous ones among the depositors. It is greatly to the credit of our money institutions that they successfully outrode the storm and that they assisted each other in the most friendly and substantial manner.

Article Text

Meeting of Depositors of the Bank of River Falls. The Bank of River Falls finding it necessary to close its doors temporarily on account of the stringency of the times a meeting of the depositors was called at Odd Fellows Hall on Wednesday evening by the officers of the bank to discuss the situation. By request of the officers of the bank Mr. Allen P. Weld took the chair and briefly stated the situation. J. M. Smith, cashier of the bank, then gave a statement of the financial situation of the bank and the causes which had led to the suspension. Following is a statement submitted:

Article Text

More Banks in Trouble

Hudson, Wis., August 17.-The bank of River Falls and the Bank of Ellsworth have suspended. Sheboygan, Wis., August 17-The Forest Venner Sealing company has assigned. Liabilities $100,000. Cleveland, Ohio, August 17.-The Cardington Banking company has suspended.

Article Text

Wisconsin Banks Suspend

[By telegraph to the Dispatch.] HUDSON, WIS., August 17.-The Bank of River Falls, Wis., suspended yesterday. The statement for July 1st shows assets of $325,526 and liabilities of $284,000. The Bank of Ellsworth. at Ellsworth, Wis., has also closed. Its statement for July 1st shows assets of $116,737 and liabilities of $86,000. The stockholders of both banks are largely the same and it is believed that the banks will reorganize,

Article Text

Badger Banks Fail

MILWAUKEE, Wis., Aug. 17. - The Bank of River Falls, Wis., R. S. Burhiyete president, capital $40,000, has suspended. The statement for July shows assets $325,526; liabilities, $284,000. The Bank of Ellsworth, Ellsworth, Wis., capital $35,000, also closed. The statement for July 1 showed assets $116,737; liabilities, $86,000. Stockholders in both banks were largely the same. It is believed the banks will be reorganized.

Article Text

WILL RESUME

The River Falls Bank Found to Be Solvent. River Falls, Wis., Aug. 18.-The Bank of River Falls suspended temporarily Thursday on account of heavy withdrawals by depositors. At a meeting of depositors held last evening the showing made by the bank fully satisfied them and an extension was granted the institution, which will resume business at once.

Article Text

BANKS GO BROKE

The Burhyte Concern at River Falls in Trouble. Hudson, Wis., Aug. 17.-The Bank of River Falls, Wis., R. S. Burhyte, president, capital $40,000, has suspended. The statement for July 1 shows assets $325,526, liabilities, $284,000. The Bank of Ellsworth, capital $35,000, also closed. The statement for July 1 showed assets $116,737; liabilities, $86,000. Stockholders in both banks were largely the same. It is believed the banks will be reorganized.

Article Text

Banks Resuming SAN BERNANDINO, Cal., Aug. 25.-The Farmers' Exchange National bank reopened yesterday. RIVER FALLS, Wis., Aug. 25. -The - bank of River Falls, which suspended a week ago, resumed business yesterday.

Article Text

WILL RESUME

The River Falls Bank Found to Be Solvent. River Falls, Wis., Aug. 18.-The Bank of River Falls suspended temporarily Thursday on account of heavy withdrawals by depositors. At a meeting of depositors held last evening the showing made by the bank fully satisfied them and an extension was granted the institution, which will resume business at once.

Article Text

Only Suspended a Week

MILWAUKEE, Aug. 25.-A River Falls special says: The bank of River Falls, which suspended one week ago, has resumed business.

Article Text

Closed Only a Week.

RIVER FALLS, Wis., Aug. 24.—The Bank of River Falls, which suspended one week ago, resumed business today.

Article Text

Banks Resumed Business

SAN BERNARDINO, CAL. Aug. 25-The Farmers' Exchange National Bank was reopened yesterday. RIVER FALLS, WIS. Aug. 25-The Bank of River Falls, which suspended week ago, resumed business yesterday.

Article Text

The River Falls Bank Resumes

River Falls, Wis., Aug. 25.-The Bank of River Falls, which suspended a week ago, resumed business yesterday. CALIFORNIA BANK RE-OPENS. San Bernardino, Cal., Aug. 25.-The Farmers' Exchange National Bank reopened yesterday.

Article Text

Wisconsin Bank Resumes

RIVER FALLS, Wis., Aug. 26.-The Bank of River Falls, which suspended one week ago, has resumed.

Article Text

Banks Resumed Business

SAN BERNARDINO, CAL. Aug. 25The Farmers' Exchange National Bank was reopened yesterday. RIVER FALLS, WIS. Aug. 25-The Bank of River Falls, which suspended a week ago, resumed business yesterday.

Article Text

Banks Resumed Business

SAN BERNARDINO, CAL. Aug. 25The Farmers' Exchange National Bank was reopened yesterday. RIVER FALLS, WIS. Aug. 25-The Bank of River Falls, which suspended a week ago, resumed business yesterday.