Bank of Portage (Portage, WI)

Episode Information

Episode UID
799607990732
Episode Type
Run Only
Bank Type
state
Bank ID
79960799 hash
Start Date
December 1, 1860*
Location
Portage, Wisconsin (43.539, -89.463)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
56448198d3f90fdd

Response Measures

None

Description

Articles show specie demands and that Portage notes were listed among suspended bills in a later report; unclear if the bank itself formally suspended.

Events (2)

1. December 1, 1860* Run
Cause
Macro News
Cause Details
Presentation of notes for specie during the broader panic; brokers demanding redemption of Bank of Portage notes
Newspaper Excerpt
a large quantity of bills on the Columbia County Bank and the Bank of Portage, which were presented at their counters for the specie
Source
newspapers
2. June 26, 1861 Other
Newspaper Excerpt
the throwing out, on the part of the Milwaukee banks, of the following named suspended bills ... Bank of Portage, ...
Source
newspapers

Newspaper Articles (2)

Article from Grant County Herald, December 29, 1860

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Article Text

'Carpet-Bag" Gentry in Town. Our city was visited one day last week by a couple of delectable specimens of humanity, J. W. Foster, a broker of Racine, and John Fitzgerald, a broker of Oshkosh, having a large quantity of bills on the Columbia County Bank and the Bank of Portage, which were presented at their counters for the specie. This is the first time during the present panic that men have been found mean enough to pursue such a course, and this one is the more aggravated from the fact that Mr. Fitzgerald, himself a banker, and making professions of high honesty, was found engaged in it. We do not believe the operation will be repeated by Mr. F., at least, for he received satisfactory assurances that our citizens generally did not approve of the course he was pursuing, and he so far respected their fe lings as to leave town by the first train. -Portage City Record. We want no better testimony of unsoundness in a bank than is offered above. Any bank that appeals for sympaty or allows the press to do so on its behalf, may be suspected. When the list of unsound banks of Wisconsin is made out, the Columbia County Bank will appear as one of them. Messrs. Foster and Fitzgerald had a right to demand a fulfillment of the terms, of contract between the bank and people, as expressed on the face of Columbia County Bank notes-promising to pay Bearer, &c. If brokers and Carpet Bag" men were an exception to the contract, why not so express it on the notes. We'd like to know how deep the Columbia County Bank is in towards flooding Wisconsin with Illinois money and then charging three per cent. for exchange on Illinois.


Article from The Weekly North Iowa Times, June 26, 1861

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Article Text

latest News. The Governor has made requisition on Indiana for four additional regiments. Seven new Massachusetts regiments are starting for Washington. The main blow against the rebels is to be struck from Washington. Gen. McClellan has instructions to sweep out the last vestiges of treason in western Virginia. Fort Pickens is all right, notwithstanding Bragg is a good dog. It is expected that the convention to be held at Knoxville, Tenn. will pursue a course similar to that pursued by the Wheeling convention, The rebels have been busy as bces in the erection of masked batteries all over eastern and southern Virginia. The rebel leaders stimulate their men to fighting heat by telling them that the northern soldiers are intent on outraging their women and committing other atrocious acts. Gov. Pickens, fearing an invasion of his state from the sea-coast, has forbidden any more troops from leaving Palmettodom.This is unkind to "ole Virginny." The Union sentiment of Kentucky is developing very fast. It is believed that the Government will interfere with the due course of law in the case of the captured pirates of the privateer Savannah Mr. Crittenden will offer his compromise at the special session of Congress, backed by a threat of the secession of Kentucky. On Sunday it was thought at Washington that Beauregard was preparing for an advance on that city. A special despatch to the Post however says "good judges say there will not be a battle for two weeks, if all. Yet a special despatch to the World represents Beauregard as about to attack the federal lines at Washington. The navy is to be doubled and the President is about to call for 300,000 men in the aggregate with money to correspond. It is suspected that Congress will suspend the writ of habeas corpus in places where there exists active rebellion, Jeff. Davis is at the Spotswood House, Richmond. Gen. McClelland and Gov. Magoffin of Ky., have entered into a stipulation in which the former agrees to respect the territory of Ky., and the latter pledges himself to protect S. property in the state, and enforce the U. S. laws. The Ky. election resulted in Union majorities in every Congressional district but the 1st. In that L. W. Burnett was elected. It is reported that the Wisconsin war fund has all been taken by the bankers who will use the state bonds for securities in banking and retire their southern stocks. The pursuit of Gov. Jackson, of Missouri, has been abandoned. The state troops were rallying fast, and Illinois troops were going to the assistance of the federal forces. at on A fight in which occurred the Union Sedalia, lost Mo., 23 kill- the 18th, men ed, and the disunionists 25. The Great Eastern was to leave England on the 21st, with troops to protect Canada from invasion by this government! A.S Wolff, of Iowa, has been appointed Consul at Basle. Beauregard recommends guerrilla warfare. Private letters from England state that large numbers of privateers are fitting out as rebel vessels. Breckinridge will probably not take his seat. 5,000 U. S. troops, including the 1st and 2d Iowa regiments, are at Booneville, Mo. The Pope is better. Com. Vanderbilt offers to sell or give his steamer Vanderbilt to the government. Gen. Scott held a war conference with his prominent generals on Monday. On Monday afternoon a large mob gathered in the streets of Milwaukee and committed violence on the bank buildings and upon the persons of several of the bankers. The riot was quelled by the military and on Tuesday all was quiet. The occasion of the disturbance was the throwing out, on the part of the Milwaukee banks, of the following named suspended bills, which they had previously guaranteed : Bank of Columbus, Bank of Green Bay, Bank of Portage, E. R. Hinkley & Co.'s Bank of Grant Co., City Bank of Kenosha, Dodge County Bank, La Crosse County Bank, Northern Bank, Waupun Bank, Wisconsin Pinery Bank. The walls of two buildings in Kansas City, fell on the night of the 22d, burying