Commercial National Bank (Fond du Lac, WI)

Episode Information

Episode UID
601501608
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
60150 national
Charter Number
6015
Start Date
December 1, 1933*
Location
Fond du Lac, Wisconsin (43.773, -88.447)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a32fea74d14d3c5c

Response Measures

None

Receivership Details

Depositor recovery rate
96.2%
Date receivership started
1934-01-02
Date receivership terminated
1941-08-30
Share of assets assessed as good
40.4%
Share of assets assessed as doubtful
57.2%
Share of assets assessed as worthless
2.4%

Description

Article lists the bank as having a conservator and RFC loan in December; official receivership known 1934-01-02.

Events (4)

1. November 9, 1901 Chartered
Source
historical_nic
2. December 1, 1933* Suspension
Cause
Government Action
Cause Details
Bank placed under a conservator (government or appointed conservator) and received RFC loan in December.
Newspaper Excerpt
Commercial National Bank of Fond du Lac, (conservator) $250,000.
Source
newspapers
3. January 2, 1934 Receivership
Source
historical_nic
4. January 2, 1934 Receivership
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

RFC LOANED $600,000 TO WISCONSIN BANKS Bank of Tomahawk among Group Listed as Receiving Money in December. WASHINGTON. March 12 (AP) Wisconsin banks received loans from the Reconstruction Finance Corporaation totaling $607,200 during Dc. cember. according to the figures released by the corporation today. The hanks and loans follow: Bank of Tomahawk (receiver). $70,000. Northwestern State bank, Cumberland. $3,000. Bank of Edgar, $14,200. Commercial National bank of Fond du Lac, (conservator) $250,000. Gateway City bank, La Crosse, (re. ceiver) $60,000. Security Savings bank (receiver) $113,000. Leapolis State bank, $5,000. Bank of Mindora (recelver). $45,000. Onalaska State bank (receiver) $35,000. Rockland State bank (receiver) $12,000.


Article Text

LOANS TO BANKS IN WESTERN WISCONSIN ANNOUNCED BY RFC WASHINGTON, D. C.—(AP)—Wisconsin banks received loans from the Reconstruction Finance corporation totaling $607,200 during December, according to figures released by the corporation Monday. The banks and loans follow: Northwestern State bank, Cumberland, $3,000; Bank of Edgar, $14,200; Commercial National Bank of Fond du Lac (conservator), $250,000. Gateway City Bank of La Crosse (receiver), $60,000; Security Savings bank (receiver), $113,000; Leopolis State bank, $5,000; Bank of Mindora (receiver), $45,000; Onalaska State bank (receiver), $35,000; Rockland State bank (receiver), $12,000; Bank of Tomahawk (receiver), $70,000.