Mccartney National Bank (Green Bay, WI)

View Charter #4783 on SPMC View balance sheet

Episode Information

Episode UID
478301577
Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
47830 national
Charter Number
4783
Start Date
May 21, 1931
Location
Green Bay, Wisconsin (44.519, -88.020)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f3c5935c65332f09

Response Measures

Accommodated withdrawals, Public signal of financial health, Capital injected, Partial suspension, Full suspension, Books examined

Clearinghouse involved: Yes (loan, examination, or other measures)

Receivership Details

Depositor recovery rate
93.6%
Date receivership started
1931-05-29
Date receivership terminated
1939-01-05
Share of assets assessed as good
35.6%
Share of assets assessed as doubtful
36.7%
Share of assets assessed as worthless
27.8%

Description

Known receivership in late May 1931; articles report suspension/closing May 21 after president's suicide and heavy withdrawals.

Events (5)
1. July 28, 1892 Chartered
Source
historical_nic
2. May 21, 1931 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals following the suicide of the bank's president and reports of frozen assets
Measures
Suspended business; directors placed bank in hands of examiners
Newspaper Excerpt
suspended business because of frozen assets, and heavy withdrawals which followed the suicide of its president, George
Source
newspapers
3. May 21, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended operations citing frozen assets and heavy withdrawals after president's suicide
Newspaper Excerpt
McCartney National bank here suspended business because of frozen assets,
Source
newspapers
4. May 29, 1931 Receivership
Source
historical_nic
5. May 29, 1931 Receivership
Newspaper Excerpt
receiver for the McCartney National bank, which failed last May 28, were continued here today by J. Bosworth, receiver.
Source
newspapers

Newspaper Articles (16)
1. June 3, 1931 Beaver Dam Daily Citizen Beaver Dam, WI

Article Text

CONFIDENCE EXPRESSED IN BANK WHICH CLOSED GREEN BAY, speaklast night in the of Green Bay's and urged not bebecause the Brown County State Bank closed its doors yesterday Less than week ago the McCartney National here suspended business because of "frozen assets," and which followed suicide of its president, George Heavy deposits also for directors placing the Brown County Bank in the hands of it announced. Cashier Schultz said the bank's condiwas would not the customers said depositors would not cent through the Prominent and profesmen of the city spoke over the radio citizens in Green Bay banks. They all pledged themselves to place all of available funds the banks here.

2. June 3, 1931 The Oshkosh Northwestern Oshkosh, WI

Article Text

CLEARING HOUSE ORDER ENDS HEAVY RUN GREEN BAY BANKS Green Bay. order from the Bay Clearing House requiring from to months withdrawals savings deposits. today appeared have halted heavy six banks the clos. the Brown County State bank check examiners More than $500,000 in rushed here by armored trucks press parcel post from Milwauand Chicago stacked conspicuously bank counters to lend confidence Anxious through the lobbies association members the opened for morning since depositors been assuaged statements prominent bankers who expressed confidence the solidarthe The banks involved the runs are Bank Green West Side State: South Side State Farmers Exchange, People's and Trust Investment Officers the clearing house sociation conferred for hours last night and evolved plan quiring 30 60 and for notice itors had taken advantage of mand rented safety deposit their money cashiers checks on or Chicago banks. Cashier Schultz the Brown County bank announced that bank was affiliated in investments with the McCartney National bank which closed its doors 21 markthe first bank failure in Green Bay in 46

3. June 3, 1931 News-Record Neenah, WI

Article Text

COUNTY Green last night expressed confidence in the condition of Green Bay's banks and urged citizens not to become alarmed because the Brown CounState bank closed its doors yesterday. Less than week ago the Cartney National bank here pended business because and heavy withdrawals which followed the of its president, George ardson. Heavy withdrawal of deposits also responsible for directors placing the Brown county bank in the hands of state examiannounced. But Cashier Schultz said that the bank's condition was sound. The bank would not have closed the customers had not become panic stricken, Schultz declared. He said depositors would not lose through the closing. Prominent business and fessional men the city spoke over radio urging citizens keep their money in Green Bay banks. They all pledged themselves to place all their available funds in the banks here.

4. June 3, 1931 Kenosha News Kenosha, WI

Article Text

Can Withdraw Cash Only on Given Notice Green Bay Clearing House Takes Steps to Save Six Banks Green Bay, Wis.-(P)-An order from the Green Bay Clearing House association, requiring from one to three months notice on withdrawal of savings deposits, today appeared to have halted a heavy run on six local banks which followed the closing of the Brown County State bank for a check by state examiners. More than $500,000 in currency, rushed here by armored trucks, express and parcel post from Milwaukee and Chicago, was stacked conspicuously on bank counters to lend confidence to patrons. Anxious crowds milled through the bank lobbies reading the notices posted by the association members when the banks opened for business this morning. Disturbances were of minor nature, however, since fears of depositors previously had been assuaged somewhat by statements of prominent citizens and bankers who expressed confidence in the solidarity of the institution. The banks involved in the runs are the Kellogg Citizens National; Bank of Green Bay; West Side State; South Side State; Farmers Exchange; and the Peoples' Savings and Trust Investment company. Evolve Plan at Meet association conferred for hours last night and evolved the plan of requiring 30, 60, and 90 day notices on withdrawals. Scores of depositors had taken advantage of demand withdrawal privileges, rented safety deposit boxes for their money or had accepted cashiers' checks on Milwaukee or Chicago banks. Cashier A. FV Schultz of the Brown County bank announced that his bank was affiliated in investments with the McCartney National bank which closed its doors May 21, marking the first bank failure in Green Bay in 46 years. A near run on several banks was averted yesterday when the Kellogg Citizens' National bank kept its doors open 45 minutes after regular closing hours to enable to make withdrawals if they wished. The action, bank officials said, gave citizens the assurance necessary to halt the run. Vow Faith in Banks In radio addresses last night, A. B. Fontaine, prominent lawyer and politician; Dr. J. R. Minahan and Judge Carlton Merrill expressed their conviction that the six Green Bay banks were in sound shape and promised to deposit all their available funds in local banks as indicative of their belief. Several Green Bay citizens started withdrawing funds from their accounts after the Brown County bank shut its doors. Cashier A. F. Schultz said the bank was closed merely because the directors wished an accounting as result of heavy withdrawals following the closing of the McCartney National bank last Thursday. "Circulation of groundless and vicious rumors was responsible for the depositors' uneasiness," he said. "They will not lose anything as a result of the directors' action." There is one dentist for every 1700

5. June 3, 1931 Kenosha News Kenosha, WI

Article Text

Give Speeches to Back Banks Radio Broadcasts Express Confidence in Green Bay Banks Green Bay, Wis. 1 (U.P.) Radio speakers last night expressed confidence in the condition of Green Bay's banks and urged citizens not to become alarmed because the Brown County State Bank closed its doors yesterday. Less than week ago the McCartney national bank here suspended business because of "frozen assets," and heavy withdrawals which followed the suicide of its president, George A. Richardson. Given Over to Examiners Heavy withdrawal of deposits were also responsible for directors placing the Brown County bank in the hands of state examiners, it was announced. But Cashier A. F. Schultz said that the bank's condition was sound. The bank would not have closed if the customers had not become panic stricken, Schultz declared. He said depositors would not lose a cent through the closing. Prominent business and professional men of the city spoke over the radio urging citizens to keep their money in Green Bay banks. They all pledged to place all of their own available funds in the banks here.

6. November 13, 1931 Green Bay Press-Gazette Green Bay, WI

Article Text

BANK RECEIVER SUES KITTELL FOR $17,000 Suit for is being brought United States district court against John Kittell, Green receiver McGartney National bank. The action the favor bank the last and from purely brought Since bank der federal governbehalf brought either the federal courts. pendCircuit and numothers are filed. was

7. November 13, 1931 Kenosha News Kenosha, WI

Article Text

Continue Paying Bank Depositors Receiver of Defunct McCartney National Bank, Green Bay, Continued Today Green Bay, of $770,000 to depositors of the McCartney National bank, which failed last May 28, were continued here today by J. Bosworth, receiver. Approximately $202,000 was disbursed yesterday to more than 1,440 depositors, Bosworth said. Payments will continue until 7,500 claimants receive their shares of the gathered in the liquidation process. Other dividends will be forthcoming, the receiver said.

8. November 14, 1931 Green Bay Press-Gazette Green Bay, WI

Article Text

PAID 1,000 Checks Handed Out at McCartney This Morning. When the the 40 per cent dividend checks was suspended until Monday morning by the receiver's staff McCartney tional bank this tabulation showed than half the checks but than half the already An passed the this morning. largely pupils had money the school The tal amount Friday's figures total Thursday, the set checks Results the three disclose that checks out 500, and that disbursed out the $770,000 One result distribution has increase the volume postal savings deposits here Postmaster John stated that not to divulge the amount the increase, but that The distribution been noted by the other Green banks, especially the larger checks, which usually left bankers Stores report cashing large numbers of the smaller checks

9. November 19, 1931 The La Crosse Tribune La Crosse, WI

Article Text

BANK SUES FOR FUND RECOVERY from John A. Kittell, Green Bay attorney, is sought Bosworth, receiver for the McCartney National bank, Green Bay, in suit filed in federal court Wednesday. Albert L. Disterbeck and Disterbeck, Two another suit filed by Bosworth in behalf of the bank. hold 10 of par value stock in the and to pay an assessment of cent.

10. March 31, 1932 Wausau Daily Herald Wausau, WI

Article Text

Bank Receiver Files Two Suits on Promissory Notes Milwaukee. March J. Bosworth, receiver for the McCartney National bank. Green Bay, has two suits in federal court collect $34,800 allegedly due the on promissory notes. One suit for $30,600, plus interest, names Cady, Murphy, Markle, Kress and Wagner. The other claim for $4,200 interest against Cady, Murphy, Markle and John Jensen. notes were discounted in 1926. One of the largest stalacite caves in world be opened to the public in Slovakia in June.

11. March 31, 1932 Kenosha News Kenosha, WI

Article Text

Bank's Receiver Files Two Suits McCartney National Bank Receiver Seeks to Collect Money Allegedly Due Milwaukee—(AP)—L. J. Bosworth, receiver for the McCartney National bank, Green Bay, has filed two suits in federal court here to collect $34,800 allegedly due the bank on promissory notes. One suit for $30,600, plus interest, names S. H. Cady, E. N. Murphy, L. Markle, F. F. Kress and W. P. Wagner. The other claim is for $4,200 and interest against Cady, Murphy, Markle and John P. Jensen. The notes were discounted in 1926.

12. December 10, 1932 The Daily Tribune Wisconsin Rapids, WI

Article Text

BAY BANKER IS BOUND OVER TO FEDERAL COURT PLEADS NOT GUILTY TO SEVEN CHARGES GROWING OUT OF MISAPPROPRIATION OF FUNDS OF DEFUNCT McCARTNEY BANK. Green Bay, Wis., Dec. 10-(P)Pleading not guilty to seven charges growing out of misappropriation of funds of the McCartney National Bank of Green Bay, Joseph H. Tayler, former president of the bank, will go on trial in federal court at Milwaukee next Wednesday. Bound Over Friday Tayler was arraigned and bound over late yesterday by Judge F. A. Geiger in a federal court session at which Omer M. Kiley, former cashier of the National Bank of DePere and former mayor of De Pere, described some of the methods he used to conceal large shortages in funds of the De Pere bank. James H. McGillan, attorney for Tayler, attempted to enter plea of nolle to a charge that the former bank president manipulated three worthless checks to conceal the true condition of accounts, contending the transactions were little more than customary banking practice and were carried out without intent to defraud. Argument Not Acceptable The argument was not acceptable to Edward Gehle, federal district attorney, and the plea was entered as not guilty. Kiley testified in a civil action to determine ownership of about $40,000 in bonds. He acknowledged that he is under indictment for misappropriating large sums, and told the court he testified knowing that his statements might be used in criminal action pending against him. To deceive bank examiners, Kiley said, he took bonds of individuals from safety deposit boxes and from other places of safe keeping and deposited them temporarily with assets of the bank. Receiver Finds Them L. J. Bosworth, receiver of the De Pere bank, found the bonds among the bank's assets. He claimed them for the institution, but later the owners demanded them. The civil action was brought to establish ownership, and Judge Geiger awarded them to the individuals who originally brought them to the bank for safe keeping. Kiley will be arraigned in Milwaukee Monday on a charge of misappropriating funds of the bank.

13. December 30, 1932 Kenosha News Kenosha, WI

Article Text

Bank Changes Receivers Oconto, Wis.—(U.P.)—The closed Oconto National bank today was in charge of L. J. Bosworth, Green Bay, who succeeds Perry Peters, who resigned to become receiver of the First National bank of Marshfield. Bosworth will continue as receiver for the McCartney National bank of Green Bay and the National bank of Green Bay.

14. December 5, 1933 Wausau Daily Herald Wausau, WI

Article Text

Green Bay Bank Receiver Granted High Court Review Washington, Dec. Bosworth, of the McCartney National bank of Green Bay, Wis., was granted review by the preme court yesterday of the decision of lower federal holding the Continental Bank and Trust company had the right to deduct from the had on deposit to the of the failed bank the of checks had forwarded the Green Bay bank for collection. James Bridger, pioneer, offered $1,000 Little Sandy Creek, Utah, for the first bushel corn raised the Salt Lake recently was erected and unveiled the

15. March 3, 1934 Green Bay Press-Gazette Green Bay, WI

Article Text

BANK RECEIVER SUES ROSEBUSH ON NOTE (AP) civil to recover $3,000 allegedly paid on in federal here yesterday by Bosworth, receiver for the McCartney National bank Green naming Judson Rosebush, Appleton, banker and paper manufacturer, of three defendants other defendants are Stephen Rosebush and the bush Ranch company, Amasa. Mich., which Judson Rosebush is founder and treasurer.

16. March 3, 1934 Wausau Daily Herald Wausau, WI

Article Text

Green Bay Bank Receiver Files Suit on Unpaid Note Milwaukee, March civsuit to recover allegedly un$5,000 promissory note filed in federal court here yesterday Bosworth, receiver for the McCartney National bank of Green Bay, naming Judson G. Rosebush, Appleton banker and paper manufacturer one three defendants. The other defendants Stephen Rosebush the Rosebush Ranch company, Amasa, Mich., which Judson Rosebush is founder and treasurer.