gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1ec7dbdf0d9c9d70
Response Measures
None
Events (2)
1.March 16, 1871Chartered
Source
historical_nic
2.June 6, 1893Run
Cause
Macro News
Cause Details
Part of the wider banking panic of early June 1893 and failures/runs at other Wisconsin banks (e.g., Manitowoc), triggering heavy withdrawals in Racine.
Newspaper Excerpt
Reports from Racine say a run is in progress on the Manufacturers' National bank.
Source
newspapers
Newspaper Articles (10)
1.June 7, 1893Daily Kennebec JournalAugusta, ME
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Article Text
STILL THEY GO. More Banks Obliged to Close Their Doors. A Big Run on Savings Banks and Institutions at Chicago. Western States Severely Shakea by This Great Financial Panic. MANITOWOC, Wis, June 6.-The State Bank of this city has closed. Capital stock, $50,000; surplus: $10,000. The Manitowoc Savings Bank is experiencing a light run. Reports from Racine say a run is in progress on the Manufacturers' and National Bank. At Madison the run on the First National Bank has increased in vigor and other banks are having increased demands.
2.June 7, 1893The Indianapolis JournalIndianapolis, IN
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Article Text
A Wisconsin Bank Suspends. MANITOWOC, Wis., June 6.-The State Bank of this city has closed. The capital stock was $50,000 and the surplus $10,000. The Manitowoo Savings Bank is experienceing a light run. Reports from Racine say a run is in progress on the Manufacturers' National Bank. At Madison the run on the First National Bank has increased in vigor, while other banks are having increased demands.
3.June 7, 1893The Portland Daily PressPortland, ME
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Article Text
WISCONSIN'SUFFERS. Many Banks in Trouble and Some of Them Closed. MANITOWOC, Wis., June 6.--The state bank of this city is closed. The capital stock is $50,000; surplus $10,000. The Manitowoc savings bank is experiencing a light run. Reports from Racine say a run is in progress on the Manufacturers' National bank. At Madison, the run on the First National bank has increased in vogor and other banks are having increased demands. The bank of Two Rivers closed the doors this morning. It is capitalized at $10,000 and its resources, according to the last statement, were $40,520. The amount due depositors is $59,314.
4.June 7, 1893The Yellowstone JournalMiles City, MT
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Article Text
The Wisconsin Banks. MILWAUKEE. Wis.. June 6. The State Bank of this city has failed. It had a capital of 850,000 and a surplus of 810,000. The Manitowoc Savings Bank now is experiencing a slight run. Reports from Racine say a run is in progress on the Manufacturers National and at Madison the run on the First National has increased.
5.June 7, 1893The Seattle Post-IntelligencerSeattle, WA
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Article Text
Rune on " Isconsin Banks. MASTIOWOC, Wis., June 6.-The State bank of this city. failed today. It had a capital of $50,000 and a surplus of $10,000. The Manitowor Savings bank is now experiencing a slight run. Reports from Racine say that a run is in progress on the Manufacturers' National bank. At Madison the run on the First National bank has increased, and other banks are having increased demands, (Ca/vin C. Barnes is president an t George B. Burnit cashier of the State bank, of Manitowoc. John Sebutte is president and L. Schutta cashión of the ManitowoeSaviogs bank E. yr. Erskine is president and B. R. Northrys cashiér of the Manufacturers' National bank, of Racirie N. + Van Slyke is president and W. Ramsay cashike of the First National bank, of Madison.]
6.June 7, 1893The HeraldLos Angeles, CA
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Article Text
Rons ou Wisconsin Banks. MATITOWOC, Wis., June 6.-The State bank of this city has failed. It had a capital of $50,000; surplus, $10,000. The Manitowoc Savings bank is now experiencing a slight run. Reports from Racine say a run is in progress on the Manufacturera' National bank. At Madison the run on the First National has increased. Other banks are having increased demands.
7.June 7, 1893The Salt Lake HeraldSalt Lake City, UT
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Article Text
WISCONSIN BANKS, The State Bank of Manitowoc Succumbs -Runs on Others. MILWAUKEE, Wis., June 6.-The State Bank of Manitowoc has failed. It had a capital of $50,000 and a surplus of $10,000. The Manitowoc Savings bank is now experiencing a slight run. Returns from Racine say a slight run is in progress on the Manufacturers' National. At Madison the run on the First National has increased, and other banks are having increased demands.
8.June 7, 1893Omaha Daily BeeOmaha, NE
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Article Text
slight run. Reports from Racine say that a run is in progress on the Manufacturers National bank. At Madison the run on the First National has increased. Other banks are having increased demands.
9.June 8, 1893Santa Fe Daily New MexicanSanta Fe., Santa Fe, NM
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Article Text
Failing Banks. PALONBE, Wash., June 8.-The First National bank of this city closed its doors yesterday. The suspension is due to the failure of the bank of Spokane. The bank has a capital of $100,000 and deposits of about $30,000. Milwaukee-The State bank at Manitowoo has closed. Its capital stock was $50,000 and the surplus $10,000. The Manitowoc Savings bank is now experiencing a light run. Reports from Racino say a run is in progress on the Manufacturers' National bank. At Madison the run on the First National bank has increased in vigor, while other banks are having increased demands.
10.June 17, 1893Western Kansas WorldWakeeney, KS
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Article Text
In Three Wisconsin Towns, MILWAUKEE, June 8.-A special to the Wisconsin from Manitowoc, Wis., says the State bank in that city has closed. Its capital stock was $50,000 and its surplus $10,000. The Manitowoc Savings bank is now experiencing a light run. Reports from Racine say a run is in progress on the Manufacturers' National bank. At Madison the run on the First National bank has increased in vigor while other banks are having an increased demand.
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.
