Farmers National Bank (Lake Geneva, WI)

Episode Information

Episode UID
559201609
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
55920 national
Charter Number
5592
Start Date
January 5, 1934
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
239f75aace96efd7

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1934-01-05
Date receivership terminated
1937-06-15
Share of assets assessed as good
54.4%
Share of assets assessed as doubtful
42.9%
Share of assets assessed as worthless
2.7%

Description

Articles state the bank was placed in the hands of a receiver but do not explicitly describe a prior suspension.

Events (3)

1. October 9, 1900 Chartered
Source
historical_nic
2. January 5, 1934 Receivership
Source
historical_nic
3. January 5, 1934 Receivership
Newspaper Excerpt
The Farmers National bank ... was placed in the hands of a receiver Saturday.
Source
newspapers

Newspaper Articles (3)

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


Article Text

Something quite intangible but definitely present is the new spirit of enthusiasm that has manifest itself at dealer meetings, previews "The factories have reflected this new spirit in their offerings for 1934. Not in any single year since its introduction, perhaps, has the automobile undergone so many changes as the change from 1933 to 1934." county will be "cleaned up." He said Manitowoc county tavern men are the first in the state to take steps to outlaw bootleg liquor through the establishment of a county vigilance committee. CARRIERS IN DOUBT ON SELLING LIQUOR MINNEAPOLIS — Railroads permitted to sell liquor on their trains as common carriers, all took a dubious attitude today toward train sales. Officials said they would have to study the situation carefully before authorizing sales and feared that confusion caused by passage through dry towns, counties and states probably would prevent any early step toward such action. Northwest Airways, Inc., officials said they did not believe they would sell liquor on their planes. LAKE GENEVA BANK IN RECEIVER'S HANDS LAKE GENEVA, Wis. — (AP) — The Farmers National bank organized here in 1900, was placed in the hands of receiver Saturday. At the close of the bank's affairs last March the capital stock was $50,000. Dr. T. H. Ferguson is president.


Article Text

CHICAGO—(AP)—Dr. Alice Wynekoop, 62 year old physician scheduled to go on trial next Thursday as the slayer of her daughter-in-law, Rheta, 23, will enter a plea of not guilty. Her attorney, W. W. Smith, made the announcement Saturday as he said that Dr. James Whitney Hall, alienist, had been retained as a "defense physician." Dr. Hall, alienist who testified in the Leopold-Loeb case, examined the defendant for two hours in her jail cell. BANK RECEIVER NAMED LAKE GENEVA, Wis.—(AP)—The Farmers National bank organized here in 1900, was placed in the hands of a receiver Saturday. At the close of the bank's affairs last March the capital stock was $50,000. Dr. T. H. Ferguson is president.