Articles (July 1912) state the German Bank was suspended and has now reopened after a 200% assessment and reorganization; no mention of a depositor run. State banking commissioner issued certificate to resume, implying state-chartered institution. Suspension date not given in the articles.
Events (2)
1.July 5, 1912Reopening
Newspaper Excerpt
GERMAN BANK REORGANIZES Suspended Sheboygan Institution Resumes Business Under the Management of New Officers. ... The full 200 per cent assessment was paid. ... Commissioner of Banking Albert E. Kuolt gave the bank a certificate to resume business, stating the institution is entirely solvent.
Source
newspapers
2.*Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank had losses necessitating a full 200% assessment to cover losses; led to suspension and reorganization.
Newspaper Excerpt
Suspended Sheboygan Institution
Source
newspapers
Newspaper Articles (2)
1.July 5, 1912Ladysmith News-BudgetLadysmith, WI
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Article Text
GERMAN BANK REORGANIZES Suspended Sheboygan Institution Resumes Business Under the Management of New Officers. I Sheboygan.-The stockholders and directors' meetings have resulted in a complete reorganization of the German bank, which has reopened for business. The full 200 per cent assessment was paid. Thus $500,000 ready cash has been turned in to cover the losses and start with a working capital. Commissioner of Banking Albert E. Kuolt gave the bank a certificate to resume business, stating the institution is entirely solvent.
2.July 11, 1912Wood County ReporterWisconsin Rapids, WI
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Article Text
GERMAN BANK REORGANIZES Suspended Sheboygan Institution Resumes Business Under the Management of New Officers. I Sheboygan.-The stockholders and directors' meetings have resulted in a complete reorganization of the German bank, which has reopened for business. The full 200 per cent assessment was paid. Thus $500,000 ready cash has been turned in to cover the losses and start with a working capital. Commissioner of Banking Albert E. Kuolt gave the bank a certificate to resume business, stating the in. stitution is entirely solvent.
