Peoples State Bank - Madison Lake, MN

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: December 1, 1910*
Location: Madison Lake, Minnesota (44.204, -93.816)

Metadata

Model: gpt-5-mini
Short Digest: d47e26896e3e2a2e

Response Measures

None

Description

Article (dated 1910-12-30) reports the People's State Bank's vault was opened after damage (implied fire), the bank has reopened 'in a small way in the village hall' and will rebuild. No mention of depositor runs; this is a suspension (temporary closure because of local fire/damage) followed by reopening.

Events (2)

1. December 1, 1910* Suspension

Cause: Local Shock
Cause Details: Bank building/vault affected by a local fire/damage (implied by references to rebuilding, other businesses burned, and reopened in village hall).
Newspaper Excerpt: The vault of the People's State bank at Madison Lake has been opened and everything in it has been found to be intact. The bank has reopened in a small way in the village hall.
Source: newspapers

2. December 30, 1910 Reopening

Newspaper Excerpt: The bank has reopened in a small way in the village hall. It will rebuild as soon as possible, probably much the same as it was before.
Source: newspapers

Newspaper Articles (1)

1. December 30, 1910 The Mankato Free Press Mankato, MN

Article from The Mankato Free Press, December 30, 1910

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Article Text

OPENED BANK'S VAULT EVERYTHING THEREIN FOUND TO BE INTACT. Strong Box at the Postoffice Is Likewise Treated; No Damage Done to Contents. The vault of the People's State bank at Madison Lake has been opened and everything in it has been found to be mtact and not damaged in the least. The bank has reopened in a small way in the village hall. It will rebuild as soon as possible, probably much the same as it was before. The safe of the postoffice has been reopened and everything found to be in good condition, except that many of the stamps are glued together, the heat having softened the mucilage. These stamps will be sent to Washington for redemption. The postoffice is doing business in the village hall. Reopen a Drug Store. W. J. Sickler has made arrangements for space in the village hall, and is preparing to reopen his drug store there as soon as he can get stocked up again. He is getting things in readiness. Theodore Roemer and son have opened their saloon up again in the frame building on the corner below where their brick building stood. Sullivan Brothers have lumber on the ground to erect a temporary frame building on one of the Fitcher iots, and will reopen their saloons there as socal as possible. Allyn Bros. have leased the Orcutt building and have moved in the goods that they succeeded in saving from the fire. They are now taking an inventory of this stock, and as soon as they finish the insurance adjusters will arrive. This firm proposes to rebuild as soon as possible. No Adjustments Yet. No insurance men have arrived in the village yet, to adjust the losses, but are expected soon. In the meantime, the runs are being left as they were. Thomas Salman, while badly burned, is able to get around. He and family are staying with Julius Reinsburg. Their loss was heavy, and Mr. Salman does not know whether he will be able to start again or not. Others have not yet decided about building or starting up again.