First National Bank (Marinette, WI)

Episode Information

Episode UID
412301599
Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
41230 national
Charter Number
4123
Start Date
March 3, 1933
Location
Marinette, Wisconsin

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
dbf7d4540630586a

Response Measures

None

Description

Statewide 14-day Wisconsin bank holiday declared March 1933; Marinette banks reportedly remained open despite the proclamation.

Events (2)

1. September 17, 1889 Chartered
Source
historical_nic
2. March 3, 1933 Suspension
Cause
Government Action
Cause Details
Governor proclaimed a statewide 14-day bank holiday in Wisconsin (March 1933); plan to reopen after the moratorium.
Newspaper Excerpt
Marinette Banks Open The First National the Stevenson National banks of Marinette were open
Source
newspapers

Newspaper Articles (2)

Article Text

2-Weeks' Holiday Called for In Gubernatorial Pronouncement. SITUATION MUDDLED Issue Little Clarified by Attorney General Finnegan's Statement. BULLETIN cials late today were considering means of forcing observance of Wisconsin's 14-day bank holiday by few national banks which remained open in defiance of the governor's proclamation. BULLETIN tion of Wisconsin's bank holiday be. fore has run its allotted 14 days was the announced goal of state banking officials today. hope effect plan to open the banks within three four days and to allow withdrawals in whole at least in part," said Arthur C. Kingston, state banking commissioner. particnational banks numerous Wisconsin communities, were and doing business today despite the banking holiday Lieutenant Governor Thomas O'Malley. Some national banks, after hasty consultation with held that they only the federal of and that the proclamation by state offibinding them. No clarification the issue raised by national banks insisting on doing business came from Madison. statement by Attorney General Finnegan noon, the proclamation, held merely that the holiday applies only to "banking institutions Marinette Banks Open The First National the Stevenson National banks of Marinette were open Milwaukee, the Marine national and the State continued do Officials the former said were not honoring checks of other banks, but added they were sure there was legal performing all banking services for their patrons. Crosse, the National Bank of La Crosse and the Batavian National remained The American National Bank and Trust company of Eau Claire functioning Refuse Close The First National Bank of Washburn, member bank chain operating out Paul, refused to close. Another institution open was the First National Bank Appleton Superior apparently was little disturbed the moratorium. The First National, the National Bank of Comand the Superior bank remainopen. cashier the National Bank of Commerce and William Banks, of the board the First National, said they could find no giving the state authority to close banks M. Colbeck the SuperState bank, he see reason" his bank should not remain open wished Large Bills Throughout southern part the state, closing seemed eral. Merchants Racine and nosha were driving Waukegan, change. Banks in Burlington, pressed opened doors but confined their activity to changing large bills. Janesville merchants met to discuss barter proposals. Bank open, money was being paid received. Henry Traxler Janesville city the city taking for and holding them for the lifting of the moraIn Milwaukee and other cities trons access to safety deposit and much rency hoarded in the expectation of just emergency, was coming out into circulation. Chain System Opens Seven banks the Northwest Bancorporation, chain centering its activities in Minnesota, usual today. They are the opened First National bank of Baldwin. the Berlin State bank, the First National of Grantsburg. the Knapp First tional, National of Crosse: the First National New Richmond the First National of said W. Decker, A score of citizens of Two Rivers, CONTINUED ON PAGE COLUMN


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