First National Bank (Lake Geneva, WI)

View Charter #3125 on SPMC View balance sheet

Episode Information

Episode UID
312501599
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
31250 national
Charter Number
3125
Start Date
March 4, 1933
Location
Lake Geneva, Wisconsin (42.592, -88.433)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
ea0b4cdd1b7f0587

Response Measures

None

Events (2)
1. February 18, 1884 Chartered
Source
historical_nic
2. March 4, 1933 Suspension
Cause
Government Action
Cause Details
Statewide banking holiday proclaimed by Wisconsin governor (temporary suspension of banking business).
Newspaper Excerpt
the fourteen day bank holiday proclaimed by Gov. R. G. Schmedeman remains in effect.
Source
newspapers

Newspaper Articles (2)
1. March 5, 1933 Chicago Tribune Chicago, IL

Article Text

EVERY STATE JOINS IN MOVE TO SAVE BANKS Take Holiday or Impose Restrictions. Wilmington, Del., March 4.—(AP)—Delaware, the last of the nation's 48 states not under some form of banking restriction, declared a bank holiday tonight, effective Monday and continuing "until further notice." Harold W. Horsey, state banking commissioner, said Gov. C. Douglas Buck had directed him to notify all banks in the state as follows: "Not because of anything that has occurred in Delaware, nor any condition existing here, but wholly because of the action of practically all the other states in declaring a bank holiday and the observance thereof by the Federal Reserve bank, this bringing about a temporary suspension of banking business over the country, I am left with no alternative but to take action to protect Delaware banks and their depositors." Wisconsin Plans Reopening. Milwaukee, Wis., March 4.—[Special.]—Banks of this city and Wisconsin are making plans to reopen next week, but on what day had not been determined tonight. In Madison, Banking Commissioner Arthur C. Kingston said that a plan has been devised for reopening Wisconsin banks Monday morning, although he withheld details of the plan pending an expected announcement from President Roosevelt at Washington on the banking situation. On the other hand, Walter Kasten, president of the First Wisconsin National bank, and also a member of a committee appointed by the Milwaukee Clearing House association to work out a plan, said the Milwaukee banks will not reopen until Wednesday at the earliest, and then probably will operate under a scrip plan similar to that used in 1907. In the meantime the fourteen day bank holiday proclaimed by Gov. R. G. Schmedeman remains in effect. No Holiday in Indiana. Indianapolis, Ind., March 4.—[Special.]—Indiana banks, under the new bank code law recently rushed through the state legislature, have the power to limit withdrawals to one-tenth of 1 per cent. Therefore, no state-wide bank moratorium will be declared in Indiana Gov. Paul V. McNutt today informed state officials from Washington, where he attended the inauguration. Indianapolis banks today continued to pay 5 per cent on both savings and checking accounts, and 100 per cent on deposits made since they declared a 5 per cent withdrawal limitation last Monday. A few upstate banks have limited withdrawals to 2 per cent. Plan Michigan Reopening. Detroit, Mich., March 4.—[Special.]—There was an easing up of banking anxieties in Detroit because of the action of the state legislature on relief bills which are scheduled to be passed on Monday. They should become laws not later than next Saturday and thereby permit banks to re-open and permit another withdrawal of funds in amounts yet to be decided upon. Operations in Detroit will be immediately resumed by the First National bank and the Guardian National Bank of Commerce. Iowa Proclaims Holiday. Des Moines, Ia., March 4.—[Special.]—Lieut. Gov. N. G. Kraschel today ordered a banking moratorium effective at once. In his proclamation the lieutenant governor set no definite time, declaring only "a temporary banking holiday mandatory for all Iowa banks, savings banks and

2. March 9, 1933 The Lake Geneva Regional News Lake Geneva, WI

Article Text

exact amounts of merchandise. THAT WAS SMART. * * * Now that Mayor Cermak has "passed to his reward" (as the old time editors would say), who is going to control the rackets in Chicago? Perhaps here is a chance for Ex-Mayor Bill Thompson to come back and get a few things he forgot! * * * When R. E. McNally and the committee named Riley Young of Darien to speak to the forum Monday night on the subject of "banking reform" they had no idea how timely the subject would be. Though they didn't know they were going to do it, they hit the nail squarely on the head. Maybe the governor was good enough to tip them off regards the closing of the banks in the state. He failed to tip off the local bankers, however. * * * Weber Smith, vice-president of the First National bank, was on his way to Chicago to a conference Friday morning when he stopped up town to cash a check. Hank Hammersley asked him what the bank was going to use for cash that day. * * * "Same thing we have been using since we started the bank," Mr. Smith replied. * * * "Better have a look at the morning paper," Hank said. * * * Mr. Smith did have a look at the paper and almost as quickly had a look at his pocket to find that his total cash capital amounted to something like $2. He called and cancelled his appointment and decided to stick around. PLANNING A GARDEN? STATE STATIONS GIVE TIMELY 1933 SERIES The complete story of a successful home vegetable garden, from the seed catalog stage to the harvesting of the crop, will be told in a series of radio talks to be given by members of the horticultural and home economics staff of the College of Agriculture, over state-stations, WHA and WLBL each Saturday morning at 10 o'clock. Such garden topics as the choosing of suitable varieties of vegetables, the planting in hotbeds in order to get an early start, the preparation of the soil, hints on sowing and transplanting and getting rid of insects are included. Home economics workers contribute information on vegetable budgets to insure a sufficient supply for the family's needs, on vegetable cookery, and on the preservation of vegetables for winter use. A. F. Glass, Real Estate, Insurance.