9215. Ironwood National Bank (Ironwood, MI)

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
national
Start Date
May 23, 1931
Location
Ironwood, Michigan (46.455, -90.171)

Metadata

Model
gpt-5-mini
Short Digest
54399355

Response Measures

Full suspension

Description

Multiple contemporaneous newspaper accounts (May 25–26, 1931) report heavy withdrawals after the death of cashier Fred R. Burrell; the bank 'failed to open its doors' by order of the board. The articles describe a run that led to an immediate closure by the board but do not indicate whether the closure was permanent or if a receiver was appointed, so the outcome is uncertain.

Events (2)
1. May 23, 1931 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals followed reports of the death of Fred R. Burrell, the bank's cashier; discovery of a bullet in his head raised alarm and precipitated the withdrawals.
Measures
None reported to stop withdrawals prior to closure; newspapers note heavy withdrawals over several days.
Newspaper Excerpt
Reports of Burrell's death precipitated a run on the bank which continued through Friday and Saturday.
Source
newspapers
2. May 25, 1931 Suspension
Cause Details
Board of directors closed the bank after heavy withdrawals that followed the cashier's death; closure described as by order of the board.
Newspaper Excerpt
The Ironwood National bank failed to open its doors for business here today ... A notice posted on the door advised the institution was closed by order of the board of Directors.
Source
newspapers

Newspaper Articles (6)
1. May 25, 1931 The Merrill Daily Herald Merrill, WI
Article from The Merrill Daily Herald, May 25, 1931

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Article Text

RUN ON BANK CASHIER FOUND Heavy Withdrawals in Last Few Days Results in Bank's Failure to Open Doors Today Mich., May 25 The fronwood National bank falied to open its doors for business here today after heavy withdrawals which followed death of Fred Burrwell, 49, cashier, found fatally injured his automobile near Kimbail, Wis., Thursday. notice posted the door advised the institutions was closed by order the board of Directors. B. Morgan is president the bank. An inquest into Burrell's death ordered when surgeons reported discovery bullet in the cashier's head. was previously reported was injured when his automobile crashed into bridge. The inquest will be held Wednesday. No statement regarding the financial condition the bank was forthcoming. Reports of Burrwell's death precipitate run on the bank which continued through Friday and Saturday Burrwell, former resident of Minnesota, had been cashier of the bank for eight years. He survived by his widow and two daughters.

2. May 25, 1931 The Oshkosh Northwestern Oshkosh, WI
Article from The Oshkosh Northwestern, May 25, 1931

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Article Text

FOUR WITNESSES DENY COLLUSION IN All Who Testify Admit They Paid Kelly for Protection But Had No Dealings With Giese former Sheriff Frederick W with "shake-down bootle was denied today by four government charged with con conspiracy to violate the law bolster the of Dan Kelly. Waupun convict and he All of the admitted paid but denied having had any dealings di rectly with Glese They testified however understanding by payment were collected with the of the former sheriff George operator of of 41 he paid Kelly $100 each May of 1929 and $35 in March for protection against "threats Later was that federal agents were about to raid his place Under statement that he was advised of one- third thirds split agreement under which the shake down plan operated Kelly told me to stay from Giese Vandervelden said He said the sheriff knew about our agreement but wouldn't want to be "DEMAND FOR $200." Frank Mount tified he was approached by Kelly with $200 month for "protection" but that Kelly finally agreed to accept $100 one payment of which was made at the county jail. Rochl said he dealt entirely with Kelly and never discussed the agreement with Glese "When told Kelly wasn't going to pay unle the sheriff knew about sheriff was little leery about the matter and asked me not to men tion it." Clarence Van Cam cheesemak Henry Van Came farmer of Center Swamp. testified that Kelly and Lothar Kemp visited their farm on May 17 1929 and the former turnkey demanded $1,000 "hush money up still which was found in operation at the Van Camp farm The Van Camp testified. but agreed to pay $500 in small 'We want $250 tonight the farm or quoted Kelly as saying. and we back here to get When Kemp and Kelly returned to the farm that night Henry Van Camp said he had raised only $90 in cash The officers refused to cept bank certificate for $75 he The next payment was due on Tuesday Van Camp continued. and when the brothers failed to appear R! the jail money Kelly and Kemp made another visit to the farma the following day don't believe I'm getting protection," Henry Van Camp said he told them. want to Giese against speaking to the sheriff Kelsaid Glese was a dry man Van Camp testified The witness said Kelly warned him before pay any more BANK FAILS TO OPEN Ironwood. Mich. The Iron wood National bank tailed to open its doors for business here today after heavy withdrawals tol lowed the death of Fred R. Burrell 49. cashier found fatally injured in the wreckage of automobile near Kimball, Wis Thursday A notice posted on the door ad vised patrons the titution closed by order of the board directors B. A. Morgan is president of the bank An inquest when the discovery of bullet reported he automobile brider WAGE RATE STANDS Youngstown The upon which the wage and tin industry based will remain unchanged for another manufac ing the annual with Atlantic A joint statement issued by the conferees said that "in refusing to incorporate in the new contract both the ers and the labor union feel that they are agreeing with the die tum of President that wage this time retard ously the restoration of normal Although the union sought to in corporate a SIX day the contract left with turers and the hour day incorporated workers but will used as the worker a

3. May 25, 1931 Rapid City Journal Rapid City, SD
Article from Rapid City Journal, May 25, 1931

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Article Text

Rifle Team Here Has National Citation citation national has been by the post the Legion for ninth place in the postal rifle taem was this morning from post signed by Ralph and Sneller, national of the national postal George Hurst, Rapid City, officer and director helped originate the Legion's rifle matches, and organized the local team. RUN HITS BANK Ironwood, Mich., May The Iron National Bank failed open its doors for business here day after heavy which followed the death of Fred Bur found fatally the wreckage his automobile near Kimball, Wis. Thursday. MISSIONARY DIES Rio Janeiro, May Rev. Patton, 35, an American formerly of Mt. Vernon, died hospital here today of kidney disease which was stricken while way from Santos, Brazil, the United States. PLAN FARM PICNIC Aberdeen, May Livestock plans will cussed at the Brown county Farm Bureau club pic set for June Tacofa park. Dittmer, county agent, announced that efforts would be made to address Wilson of the National Livestock Chicago line forts being made concen livestock producers territory BIMBO Chicago, May Police today Paulo Nicholas before the bullet which set fatal infection Bimbo the father Bimbo, claimant monarover gypsies. FIREMAN KILLED Sioux May Mark Landon, railway fireman, killed when buried beneath tons coal the round house Landon slipped fell into while he filling with coal from chute.

4. May 25, 1931 The Capital Times Madison, WI
Article from The Capital Times, May 25, 1931

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Article Text

Bank Closed as Killing of Cashier Causes Run Ironwood National bank failed to open its doors for business here today after heavy withdrawals which followed the death of Fred R. Burrell, 49, cashier, found fatally injured in the wreekage of his automobile near Kimball, Wis., Thursday. An inquest into Burrell's death was ordered when surgeons reported discovery of a bullet in the cashier's head. No statement regarding the financial condition of the forthcoming. Reports of Burrell's death precipitated run on the bank. track and field meet, Helen Mary Friese, 14, escaped with no bones broken.

5. May 26, 1931 Two Rivers Reporter Two Rivers, WI
Article from Two Rivers Reporter, May 26, 1931

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Article Text

Heavy Withdrawals Force Bank Closing IRONWOOD Mich. (AP)-The Ironwood National Bank failed to open its doors for business here Monday after heavy withdrawals which followed the death of Fred R. Burrell, 49, cashier, found fatally injured in the wreckage of his automobile near Kimball, Wis., Thursday Order Inquest An inquest into Burrell's death was ordered when surgeons reported discovery of bullet in the eashier's head. It was previously reported he was injured when his automobile crashed into bridge. No statement regarding the financial condition of the bank was forthcoming. Reports of Burrell's death precipitated a run on the bank which continued through Friday and Saturday.

6. May 26, 1931 The Merrill Star-Advocate Merrill, WI
Article from The Merrill Star-Advocate, May 26, 1931

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Article Text

ON BANK FOUND Heavy Withdrawals in Last Few Days Results in Bank's Failure to Open Doors Today Mich., May The Ironwood National bank failed to open its doors for business today after heavy withdrawals which followed death of Fred Burrwell, 49, cashier, found fatally injured the of his automobile Kimball, notice posted the door advised the \closed by order the board of Directors. Morgan president of the bank. An inquest into Burrell's death was ordered when surgeons ported discovery bullet in cashier's head. It previously was injured when automobile crashed into bridge. The inquest will be held statement regarding the financial the bank was forthcoming. Reports of Burrwell's death run the bank continued through Friday and Saturday. Burrwell, former resident Minnesota, had been cashier of the bank eight years. He is vived by his widow and two daughters.