gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
b83f46bb65356b01
Response Measures
None
Description
Reports attribute the trouble to mismanagement; application for a receiver is reported.
Events (3)
1.July 16, 1903Run
Cause
Bank Specific Adverse Info
Cause Details
Run precipitated by bank mismanagement and inability to meet withdrawals.
Newspaper Excerpt
The trouble was precipitated by a run on the Bangor bank, which It was unable to meet.
Source
newspapers
2.July 16, 1903Suspension
Cause
Government Action
Cause Details
Bank placed in hands of state bank examiner and expected to be sold or have a receiver appointed.
Newspaper Excerpt
the Farmers' and Merchants' bank of Bangor are both practically in the hands of Bank Examiner Berg.
Source
newspapers
3.July 25, 1903Receivership
Newspaper Excerpt
Application for a receiver for the bank will be made to the state bank examiner to-morrow. ... the defunct Farmers and Merchants' bank of Bangor ... he has made an assignment ... of his entire private fortune.
Source
newspapers
Newspaper Articles (10)
1.July 17, 1903Rock Island ArgusRock Island, IL
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Article Text
Two Wisconsin Banks in Trouble. LaCrosse, Wis., July 17.-Owing to a series of misfortunes the West Salem Exchange bank and the Farmers' and Merchants' bank of Bangor are both practically in the hands of Bank Examiner Berg. The former will be reorganized; the latter will be sold or a receiver will be appointed. It is said D. D. Samuels, vice president of the Bangor bank and president of the Exchange bank, will withdraw from both. The trouble was precipitated by a run on the Bangor bank, which It was unable to meet.
2.July 17, 1903The SunNew York, NY
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Article Text
Two Wisconsin Banks in Trouble. LA CROSSE. Wis., July 16.-Owing to a series of misfortunes the West Salem Exchange Bank and the Farmers & Merchants' Bank of Bangor are in the hands of Bank Examiner Berg. The former will he reorganized, and the latter will either be sold or placed in the hands of a receiver.
3.July 22, 1903Watertown RepublicanWatertown, WI
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Article Text
Two Banks Closed. La Crosse, Wis., July 16.-Owing to a series of misfortunes the West Salem Exchange bank and the Farmers' and Merchants' bank of Bangor are both practically in the hands of Bank Examiner Berg. The former will be reorganized; the latter will be sold or a receiver will be appointed. The trouble is attributed to mismanagement.
4.July 23, 1903The Manitowoc PilotManitowoc, WI
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Article Text
Two Banks Closed. La Crosse, Wis., July 16.-Owing to a series of misfortunesthe West Salem Exchange bank and the Farmers and Merchants' bank of Bangor are both practically in the hands of Bank Examiner Berg. The former will be reorganized; the latter will be sold or a receiver will be appointed. The trouble is attributed to mismanagement.
5.July 23, 1903The Manitowoc PilotManitowoc, WI
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Article Text
Two Banks Closed. Owing to a series of misfortunes the West Salem Exchange bank and the Farmers and Merchants' bank of Bangor are both practically in the hands of Bank Examiner Berg. The former will be reorganized; the latter will be sold or a receiver will be appointed. The trouble is attributed to mismanagement.
6.July 23, 1903River Falls JournalRiver Falls, WI
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Article Text
Two Banks Closed. Owing to a series of misfortunes the West Salem Exchange bank and the Farmers and Merchants' bank of Bangor are both practically in the hands of Bank Examiner Berg. The former will be reorganized; the latter will be sold or a receiver will be appointed. The trouble is attributed to mismanagement.
7.July 24, 1903The Ely MinerEly, MN
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Article Text
Two Banks Closed. La Crosse, Wis., July 16.-Owing to a series of misfortunes the West Salem Exchange bank and the Farmers' and Merchants' bank of Bangor are both practically in the hands of Bank Examiner Berg. The former will be reorganized; the latter will be sold or a receiver will be appointed. The trouble is attributed to mismanagement.
WISCONSIN LUDWIG LARSON'S SACRIFICE He Gives Up His Private Fortune to Save Depositors from Loss. LACROSSE, WIS.-In an effort to save the creditors of his bank any loss Ludwig Larson, the president of the defunct Farmers and Merchants' bank of Bangor, has made an assignment to William Smith of Bangor of his entire private fortune. The newly organized state bank of Bangor to-day decided that they would not assume the liabilities and assets of the defunct bank, as at first agreed, with the result that the creditors of the old bank were at a loss. Application for a receiver for the bank will be made to the state bank examiner to-morrow. Mr. Larson's private fortune may be entirely sacrificed as the result of the step taken. Carey's Magnesia Cement Roofing Cannot rust or leak like metal roofing. W.
9.July 25, 1903The L'anse SentinelL'anse, MI
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Article Text
Two Banks Closed. La Crosse, Wis., July 16.-Owing to a series of misfortunes the West Salem Exchange bank and the Farmers' and Merchants' bank of Bangor are both practically in the hands of Bank Examiner Berg. The former will be reorganized; the latter will be sold or a receiver will be appointed. The trouble is attributed to mismanagement.
10.August 1, 1903Watertown RepublicanWatertown, WI
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Article Text
Two Banks Closed. Owing to a series of misfortunes the West Salem Exchange bank and the Farmers and Merchants' bank of Bangor are both practically in the hands of Bank Examiner Berg. The former will be reorganized; the latter will be sold or a receiver will be appointed. The trouble is attributed to mismanagement.
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.
