gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
718c24f164d80f4e
Response Measures
None
Description
Sources do not describe a depositor run; bank was suspended by authorities and later reorganized and reopened under a new name.
Events (2)
1.June 17, 1931Suspension
Cause
Government Action
Cause Details
Suspended by state banking authorities after findings of insolvency and subsequent John Doe investigation.
Newspaper Excerpt
The Franklin State Bank was suspended on June 17.
Source
newspapers
2.October 5, 1932Reopening
Newspaper Excerpt
The Franklin State Bank which suspended business in June, 1931, is expected to reopen within two weeks under the name of the Marquette State Bank.
Source
newspapers
Newspaper Articles (15)
1.August 18, 1931The Sheboygan PressSheboygan, WI
Article Text
Schwenker Questioned Hearing
John Doe Investigation Of Franklin Bank Transactions Is Held Behind Closed Doors
Milwaukee, (UP) Calvin Schwenker, former state banking was the first witness called today as Milwaukee county officials opened John Doe investigation transactions which closed the Franklin State Bank. Walter Hofer, deputy district attorney, questioned Schwenker all morning the presence of Judge George Page. hearing, howbeing held behind closed doors and the testimony will be kept secret.
Operated When Insolvent
One of the questions which the expected to asked was why bank was permitted to operate some time after was found to insolvent. Thomas Herried, who has been appointed acting of banking, and Pitman, examiner charge Franklin State Bank records, others to be summoned in the hearing today.
Charge Against Schroeder
A few hours before the hearing opened, Oliver O'Boyle, assistant county corporation counsel, charged affidavits that president of the defunct bank, some his estate holdings intent to defraud the county. O'Boyle alleged that transfers were effected after the bank closed, June Among other matters to be vestigated during the the fact that which Schroeder was officer, from the State Bank without according to statement the state banking commission.
2.September 6, 1931Omaha World-HeraldOmaha, NE
Article Text
Four Out on Bond in Franklin Bank Case
Milwaukee, Wis., Sept. Four of five persons named in warrants in connection with the failure the Franklin State bank were arraigned released on bond here today. The cases were continued until September 30. Calvin Schwenker, former state banking commissioner, accused of being tardy in closing the bank which he allegedly knew was insolvent, freed hundred dollar bond. Bail for William Schroeder, president of the bank set 11 thousand dolHe charged in three warrants with falsifying bank records bank examiners: of taking four hundred dollars in consideration for loan made bank client. and of buying stocks on margin bank official Raymond Maas, assistant cashier and bank director, and Emil cashier, accused of for loan were freed on one thousand dollar bond. Labudde, former ident and director. charged with buying while bank official, will be arraigned Tuesday.
3.September 10, 1931The Daily TribuneWisconsin Rapids, WI
Article Text
WARRANT SCHROEDER
PRESIDENT OF DEFUNCT BANK CITED FOR ACCEPTING DEPOSITS AFTER INSTITUTION INSOLVENT; SCHWENKER CENSURED.
Milwaukee, Sept. fourth warrant William Schroeder, president of the defunct Franklin State bank, ordered today by District Judge George Page in his report of the John Doe inquiry the failure of the institution. While name, the report censured vin Schwenker, former state banking Took Money When Insolvent The new warrant against Schroeder will charge, Judge Page said, that the former bank president permitted deposits to be accepted knew the bank was insolvent. Previously, Schroeder chargwarrants apart the John Doe with falsifying bank records deceive bank examiners, of buying stock bank officer, and of commission loans. arraigned held $11,000 bonds in connection with the three charges and his case continued til Sept. Schwenker, who resigned state banking commissioner Sept. was accused previously tardy action closing the bank. held ter arraignment $500 bond for hearing Sept. Judge Page, in the report released today, said was convinced from the testimony presented that bankofficials the institution insolvent for more than year before closed June. Sold Additional Stock was censured for permitting $50,000 bank stock to be sold to the lic for the alleged, purpose, of covering up deficiency in capital and surplus.
4.September 17, 1931Two Rivers ReporterTwo Rivers, WI
Article Text
Appoint Special Bank Commissioner
MADISON, Wis. (AP)-The appointment of William C. Tannhaeuser, MIIwaukee, as special deputy commissioner of banking to take charge of the defunct Franklin State Bank, Milwaukee, was announced here today by Thomas Herreid, acting commissioner of bank-
The Franklin State Bank was suspended on June 17. John Doe proceedings were subsequently held at which Calvin Schwenker, former commissioner of banking, was accused of permitting the bank to run after he knew it was insolvent. Warrants were subsequently issued against Mr. Schwenker and bank officials.
5.September 17, 1931The Rhinelander Daily NewsRhinelander, WI
Article Text
NAMES TANNHAEUSER TO
Acting Commissioner of ing Picks Milwaukeean Special Deputy.
Sept. 17 appointment William C. Tannhaeuser, Milwaukee, special deputy of banking take charge of defunct Franklin State bank, Milwaukee, nounced here today by Herreid, acting of banking. The Franklin State bank suspended John proceedings held which Calvin Schwenker, former commissioner banking, was cused of permitting the bank run he knew was insolvent. Warrants subsequently issued against Mr. Schwenker and bank ficials. The bank's creditors selected creditors' committee which mended Tannhaeuser as special deputy commissioner. has been engaged various occupations Milwaukee for more than 20 years, Herreid said. together with his experience in the real estate field, and knowledge real estate values should, my opinion. be of particular the handling of the affairs of this bank, he added.
6.September 17, 1931The Journal TimesRacine, WI
Article Text
Will Take Charge of Defunct Franklin Bank
-The appointment of William C. cial deputy commissioner of banking to take charge of the defunct Franklin State bank Mitwaukee, here today by Thomas Herreid, acting of banking The Franklin state bank was suspended on June 17. John Doe proceedings were' subsequently held at which Calvin Schwenker, former commissioner of banking, was accused of permitting the bank to run after he knew it was insolvent Warrants subsequently issued against Schwenker and bank officials.
7.March 15, 1932Marshfield News-HeraldMarshfield, WI
Article Text
Merit Distinction For Scholastic Accomplishments
Names students of John's Catholic school the honor roll for the which Friday. Those meriting this Martha Katherine Hass, Mary Ann Kliner, Lucille Leitner, Mildred Streveler, Grace Margaret BerghamLillian Kathleen Geraldine Cafferty, Adele Harsch, Jeannette Miedaner, Verna Palecek, Fidelia Schmitt, Adler. Caroline Curtin, Marcella Durst, Adela Durst, Ruth Boehm. Robert Felhofer, Louis Gerald Hoag, Knauf, John Rhodes, Robert Roecklein, Jeroma Taube, Winterburn, Robert Rembs, Leonard Tauschek.
HOLDS BANK HEAD Milwaukee, March Judge Hedding bound William Schroeder, former the closed Franklin State bank, Milwaukee, municipal court for trial on charges receiving deposits when he institution to buying stocks margin, and of ceiving the bank's board of directors.
8.March 15, 1932Chippewa Herald-TelegramChippewa Falls, WI
Article Text
Banker in Milwaukee Is Held for Trial
Milwaukee. (AP) — District Judge A. J. Hedding yesterday bound over Wm. A. Schroeder, former president of the closed Franklin State Bank, Milwaukee, to municipal court for trial on charges of receiving deposits when he knew the institution to be insolvent, of buying stocks on margin, and of receiving loans without authorization from the bank's board of directors.
9.October 5, 1932The Merrill Daily HeraldMerrill, WI
Article Text
Bank to Reopen At Milwaukee Under New Name
MILWAUKEE. Oct. 5 (P)The Franklin State Bank which suspended business in June, 1931, is expected to reopen within two weeks under the name of the Marquette State Bank Plans for reopening the institution were revealed to Circuit Judge John J. Gregory when he authorized distribution of $110,650.3 among the 8,000 depositors yesterday. C. F. Roullier. representing the reorganization committee, said $55, 000 of the necessary $100,000 new capital has been subscribed.
10.October 5, 1932The Stoughton CourierStoughton, WI
Article Text
Entertains Mother's Club
The Pleasant Grove Mother's Club was entertained Tuesday afternoon at the home of Mrs. Knute Foss. A business meeting was held, followed by a social time. A lunch was served by the hostess. The club will meet again in two weeks at the home of Mrs. Tom Young.
BANK TO REOPEN
Milwaukee —(AP)— The Franklin State bank which suspended business in June, 1931, is expected to re-open within two weeks under the name of the Marquette State bank. Plans for reopening the institution were revealed to Circuit Judge John J. Gregory when he authorized distribution.
11.October 5, 1932Wausau Daily HeraldWausau, WI
Article Text
Suspended Franklin State Bank Reopens as Marquette
Milwaukee, Oct. 5.- (AP) -The Franklin State bank which suspended business in June, 1931, is expected to reopen within two weeks under the name of the Marquette State bank. Plans for reopening the institution were revealed to Circuit Judge John J. Gregory when he authorized distribution of $110,650.30 among the 8,000 depositors yesterday C.F. Roul lier, representing the reorganization committee, said $55,000 of the necessary $100,000 new capital has been subscribed.
12.October 5, 1932Chippewa Herald-TelegramChippewa Falls, WI
Article Text
Milwaukee Bank to Reopen in Short Time
Milwaukee. (AP)—The Franklin State Bank which suspended business in June, 1931, is expected to reopen within two weeks under the name of the Marquette State Bank. Plans for reopening the institution were revealed to Circuit Judge John J. Gregory when he authorized distribution of $110,650.30 among the 8,000 depositors yesterday. C. F. Roullier, representing the reorganization committee, said $55,000 of the necessary $100,000 new capital has been subscribed.
Skulany, Rumania—Two brothers, 12 and 15, quarrelled while their parents were away at a wedding. The elder struck his brother with a hammer killing him. Their sister rushing in too late to prevent the attack, went mad. The parents returned and the mother, seeing what had taken place, committed suicide. The boy who had swung the hammer fled. Later, in a nearby lake, they found the body.
13.October 5, 1932The La Crosse TribuneLa Crosse, WI
Article Text
FRANKLIN STATE BANK AT MILWAUKEE SOON TO RE-OPEN
MILWAUKEE, Wis. — (AP) — The Franklin State bank which suspended business in June, 1931, is expected to re-open within two weeks under the name of the Marquette State bank. Plans for re-opening the institution were revealed to Circuit Judge John J. Gregory when he authorized distribution of $110,650.30 among the 8,000 depositors Tuesday. C. F. Roullier, representing the reorganization committee, said $55,000 of the necessary $100,000 new capital has been subscribed.
14.October 5, 1932The Capital TimesMadison, WI
Article Text
Franklin Bank to Open Under a New Name
MILWAUKEE—(AP)—The Franklin State bank which suspended business in June, 1931, is expected to reopen within two weeks under the name of the Marquette State bank. Plans for reopening the institution were revealed to Circuit Judge John J. Gregory when he authorized distribution of $110,650.30 among the 8,000 depositors Tuesday. C. F. Roullier, representing the reorganization committee, said $65,000 of the necessary $100,000 new capital has been subscribed.
Denmark has decided to continue its import-restriction system.
15.October 6, 1932Two Rivers ReporterTwo Rivers, WI
Article Text
CLOSED BANK WILL REOPEN
MILWAUKEE. Franklin State Bank which suspended business June, 1931, is expected to reopen within two weeks under the name of the Marquette State Bank. Plans for the were revealed to Circuit Judge John Gregory when he authorized distribution of $110,650.30 among the 8,000 depositors Tuesday.
WHITEHALL, Wis., (AP)Miss Selma Oerke, 35 of Pigeon Falls, died at hospital here Tuesday of burns rean oil stove she was fill-
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.