Depositors ran on the bank; no specific rumor or external trigger described.
Newspaper Excerpt
The trouble was caused by a run on the institution.
Source
newspapers
same day
2.August 2, 1893Suspension
Cause Details
Suspension followed the run by depositors; controller later imposed conditions for reopening.
Newspaper Excerpt
which suspended payment on ... August 2
Source
newspapers
+26 days
3.August 28, 1893Reopening
Newspaper Excerpt
have been authorized to resume business ... the latter on Monday, August 28
Source
newspapers
Newspaper Articles (14)
1.August 3, 1893St. Paul Daily GlobeSaint Paul, MN
Click image to open full size in new tab
Article Text
Bank at Waupaca Closes
Waupaca, Wis., Aug. 2.-The Waupaca County National bank closed its doors this morning. The trouble was caused by a run on the institution. The general belief is that depositors will be paid in full. The president stated today that they had $40,000 in gilt-edged paper more than they were owing July 12.
2.August 3, 1893Rock Island Daily ArgusRock Island, IL
Click image to open full size in new tab
Article Text
Bank at Waupaca Closes
WAUPACA, Wis., Aug 3.-The Waupaca County National bank has closed its doors. The trouble was caased by a run on the institution. The general belief is that depositors will be paid in full.
3.August 5, 1893The Beatrice Daily ExpressBeatrice, NE
Click image to open full size in new tab
Article Text
Will Resume Business.
MILWAUKEE, Aug. 5.—A dispatch from Sparta says that the Bank of Sparta, which suspended a few days ago, will reopen its doors. M. H. Thayer, operating banks at Sparta and Tomah, made an assignment. Depositors will receive about 60 cents on the dollar. The Waupaca National bank is expected to resume in a few days.
4.August 9, 1893The StarReynoldsville, PA
Click image to open full size in new tab
Article Text
Financial and Commercial
The Seven Corners bank at St. Louis, Mo., has assigned. Business at all the New York savings banks was going on as usual Thursday. The excitement is all over. Depositors evidently feel assured tnat their money is perfectly safe. At Naima, Idaho, the First National Bank has failed. The El Paso, Texas, National Bank has suspended. The First National Bank of Birmingham. Ala., has closed. The Waupaca County National Bank of Waupaca, Wis., has closed its doors, During the past three months $3,800,000 worth of fine gold has been received by the Bank of California as the product of California's gold mines and smelters. The decrease of the earnings of the Western railroads for July, as compared with the June earnings, is estimated at $500,000.
5.August 10, 1893The Middleburgh PostMiddleburg, PA
Click image to open full size in new tab
Article Text
Financial and Commercial
The Seven Corners bank at St. Louis, Mo., has assigned. Business at all the New York savings banks was going on as usual Thursday. The excitement is all over. Depositors evidently feel assured tnat their money is perfectly safe. At Naima, Idaho, the First National Bank has failed. The El Paso, Texas, National Bank has suspended. The First National Bank of Birmingham. Ala., has closed. The Waupaca County National Bank of Waupaca, Wis., has closed its doors, During the past three months $3,800,000 worth of fine gold has been received by the Bank of California as the product of Cali fornia's gold mines and smelters. The decrease of the earnings of the West ern railroads for July, as compared with the June earnings, is estimated at $500,000.
6.August 24, 1893Evening StarWashington, DC
Click image to open full size in new tab
Article Text
Colorado and Wisconsin Banks Resume
The American National Bank of Pueblo. Col., and the Waupaca County National Bank of Waupaca. Wis., which suspended payment on July 5 and August 2, respectively, having complied with the conditions imposed upon them by the controller of the currency, and the capital stock being unimpaired, have been authorized to reopen their doors to business The former will resume on Monday, September 4, and the latter on Monday, August 28
7.August 24, 1893New-York TribuneNew York, NY
Click image to open full size in new tab
Article Text
posed upon It by the Controller of the Currency, and its capital stock being unimpaired, (was to-day permitted to reopen its doors for business. The American National Bank of Pueblo, Col., and the Waupaca County National Bank of Waupaca, Wis., which suspended payment on July 5 and August 2 respectively, have also been authorized to resume business. The former will resume on Monday, September 4, and the latter on Monday, August 28.
8.August 24, 1893Rock Island Daily ArgusRock Island, IL
Click image to open full size in new tab
Article Text
Wisconsin Bank to Keopen
WAUPACA. Wis., Aug 24.-The County National bank of this city, that closed its doors some time ago owing to a run by its depositors, has received instructions from Bank Compt oller Eckels to reopen. This it will do Monday, Aug. 28.
9.August 25, 1893Daily Kennebec JournalAugusta, ME
Click image to open full size in new tab
Article Text
Signs of Better Times
WASHINGTON, Aug. 24-The American National bank of Pueblo, Colo., and the Waupaca County National bank of Wanpaca, Wis, which suspended payment, have been authorized to resume business.
10.August 30, 1893The Madison Daily LeaderMadison, SD
Click image to open full size in new tab
Article Text
Waupaca Bank Reopened
Waupaca, Wis., Aug. 30. - - The County National bank of this city reopened its doors for business after a suspension of less than a month.
Wanpaca, Wis., Aug. 24.-The Waupaca County National bank of this city, which closed its doors some time ago owing to a run by its depositors, received instructions from Controller Eckels to reopen. This it w.ll do Monday, Aug. 28.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.