gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
8c59c3ee10c875c9
Response Measures
None
Description
Several articles link the suspension to heavy withdrawals following other local bank failures; president name shows OCR variants (Burhyte/Burhiyete).
Events (3)
1.June 15, 1893Run
Cause
Local Banks
Cause Details
Withdrawals triggered by news of Hudson Savings Bank closing and general national uncertainty.
Measures
Local business men deposited funds to support the bank; bank reassured depositors.
Newspaper Excerpt
the report that the Hudson Savings Bank closed ... many of them withdrew their deposits on Saturday morning.
Source
newspapers
2.August 17, 1893Suspension
Cause
Local Banks
Cause Details
Heavy withdrawals by depositors (panic linked to failures/suspensions of other local banks) led to temporary suspension.
Newspaper Excerpt
The Bank of River Falls ... suspended yesterday. ... suspended temporarily Thursday on account of heavy withdrawals by depositors.
Source
newspapers
3.August 25, 1893Reopening
Newspaper Excerpt
The bank of River Falls, which suspended a week ago, resumed business yesterday.
Source
newspapers
Newspaper Articles (17)
1.June 15, 1893River Falls JournalRiver Falls, WI
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Article Text
Our Banks All Right. The report that the Hudson Savings Bank closed its doors on Friday of last week, caused some alarm among the depositors of the Bank of River Falls, and many of them withdrew their deposits on Saturday morning. There was not the slightest reason for this alarm, as the Bank of River Falls has at all times done a prosperous business and has been exceedingly cautious in making its loans. This is to its credit and a guarantee of soundness to its stockholders and depositors. It is safe to say that the deposits in the bank were as safe on Saturday as they have been on any day during the nineteen years of its existence. But the feeling of uncertainty as to the future now pervading the whole country, together with the closing of the Hudson bank was too much to withstand by persons otherwise cool and considerate in their business affairs. The business men of the city stood by the bank to a man. Not one withdrew his deposits. On the contrary they made deposits during the day to aid the bank to weather out the storm. It is unnecessary to say that even if the alarmists had succeeded in closing the doors of the bank, they would only have delayed the payment of their certificates until such time as the bank could make collections. As it was the bank netted some $400 in interest which depositors in their madness threw away. Four hundred dollars net earnings in one day is pretty good for a country bank. A slight run was also made on the Farmers & Merchants Bank, but that institution is young, has consequently fewer deposits, and the stacks of money in sight soon reassured the nervous ones among the depositors. It is greatly to the credit of our money institutions that they successfully outrode the storm and that they assisted each other in the most friendly and substantial manner.
2.August 18, 1893The Portland Daily PressPortland, ME
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Article Text
More Banks in Trouble. Hudson, Wis., August 17.-The bank of River Falls and the Bank of Ellsworth have suspended. Sheboygan, Wis., August 17-The Forest Venner Sealing company has assigned. Liabilities $100,000. Cleveland, Ohio, August 17.-The Cardington Banking company has suspended.
3.August 18, 1893Richmond DispatchRichmond, VA
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Article Text
Wisconsin Banks Suspend. [By telegraph to the Dispatch.] HUDSON, WIS., August 17.-The Bank of River Falls, Wis., suspended yesterday. The statement for July 1st shows assets of $325,526 and liabilities of $284,000. The Bank of Ellsworth. at Ellsworth, Wis., has also closed. Its statement for July 1st shows assets of $116,737 and liabilities of $86,000. The stockholders of both banks are largely the same and it is believed that the banks will reorganize,
4.August 18, 1893St. Paul Daily GlobeSaint Paul, MN
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Article Text
Badger Banks Fail. MILWAUKEE, Wis., Aug. 17. - The Bank of River Falls, Wis., R. S. Burhiyete president, capital $40,000, has suspended. The statement for July shows assets $325,526; liabilities, $284,000. The Bank of Ellsworth, Ellsworth, Wis., capital $35,000, also closed. The statement for July 1 showed assets $116,737; liabilities, $86,000. Stockholders in both banks were largely the same. It is believed the banks will be reorganized.
5.August 24, 1893Wood County ReporterWisconsin Rapids, WI
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Article Text
WILL RESUME. The River Falls Bank Found to Be Solvent. River Falls, Wis., Aug. 18.-The Bank of River Falls suspended temporarily Thursday on account of heavy withdrawals by depositors. At a meeting of depositors held last evening the showing made by the bank fully satisfied them and an extension was granted the institution, which will resume business at once.
6.August 24, 1893Wood County ReporterWisconsin Rapids, WI
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Article Text
BANKS GO BROKE. The Burhyte Concern at River Falls in Trouble. Hudson, Wis., Aug. 17.-The Bank of River Falls, Wis., R. S. Burhyte, president, capital $40,000, has suspended. The statement for July 1 shows assets $325,526, liabilities, $284,000. The Bank of Ellsworth, capital $35,000, also closed. The statement for July 1 showed assets $116,737; liabilities, $86,000. Stockholders in both banks were largely the same. It is believed the banks will be reorganized.
7.August 24, 1893Eagle River ReviewEagle River, WI
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Article Text
TWO BADGER BANKS FAIL. Banks of River Falls and Ellsworth Close Their Doors. HUDSON, Wis., Aug. 17.-The Bank River Falls, Wis., R. S. Burhiyete president, capital $40,000, suspended yesterday. The statement for July 1 shows assets $325,526 liabilities, $284,000. The Bank of Ells worth, Ellsworth, Wis., capital $35,000 also closed. The statement for July showed assets $116,737; liabilities, $80,00 000. Stockholders in both banks were largely the same. It is believed the banks will be reorganized.
Banks Resuming SAN BERNANDINO, Cal., Aug. 25.-The Farmers' Exchange National bank reopened yesterday. RIVER FALLS, Wis., Aug. 25. -The - bank of River Falls, which suspended a week ago, resumed business yesterday.
9.August 25, 1893Iowa County DemocratMineral Point, WI
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Article Text
WILL RESUME. The River Falls Bank Found to Be Solvent. River Falls, Wis., Aug. 18.-The Bank of River Falls suspended temporarily Thursday on account of heavy withdrawals by depositors. At a meeting of depositors held last evening the showing made by the bank fully satisfied them and an extension was granted the institution, which will resume business at once.
10.August 25, 1893Iowa County DemocratMineral Point, WI
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Article Text
BANKS GO BROKE. The Burhyte Concern at River Falls in Trouble. Hudson, Wis., Aug. 17.-The Bank of River Falls, Wis., R. S. Burhyte, president, capital $40,000, has suspended. The statement for July 1 shows assets $325,526, liabilities, $284,000. The Bank of Ellsworth, capital $35,000, also closed. The statement for July 1 showed assets $116,737; liabilities, $86,000. Stockholders in both banks were largely the same. It is believed the banks will be reorganized.
11.August 25, 1893Rock Island Daily ArgusRock Island, IL
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Article Text
Only Suspended a Week. MILWAUKEE, Aug. 25.-A River Falls special says: The bank of River Falls, which suspended one week ago, has resumed business.
12.August 25, 1893St. Paul Daily GlobeSaint Paul, MN
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Article Text
Closed Only a Week. RIVER FELLS. Wis., Aug. 24.-The Bank of River Falls, which suspended one week ago, resumed business today.
13.August 26, 1893The TimesRichmond, VA
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Article Text
Banks Resumed Business. SAN BERNARDINO, CAL. Aug. 25-The Farmers' Exchange National Bank was reopened yesterday. RIVER FALLS, WIS. Aug. 25-The Bank of River Falls, which suspended week ago, resumed business yesterday.
14.August 26, 1893The Morning NewsSavannah, GA
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Article Text
The River Falls Bank Resumes. River Falls, Wis., Aug. 25.-The Bank of River Falls, which suspended a week ago, resumed business yesterday. CALIFORNIA BANK RE-OPENS. San Bernardino, Cal., Aug. 25.-The Farmers' Exchange National Bank reopened yesterday.
15.August 26, 1893The Madison Daily LeaderMadison, SD
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Article Text
Wisconsin Bank Resumes. RIVER FALLS, Wis., Aug. 26.-The Bank of River Falls, which suspended one week ago, has resumed.
16.August 26, 1893Richmond DispatchRichmond, VA
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Article Text
Banks Resumed Business. SAN BERNARDINO, CAL. Aug. 25The Farmers' Exchange National Bank was reopened yesterday. RIVER FALLS, WIS. Aug. 25-The Bank of River Falls, which suspended a week ago, resumed business yesterday.
17.August 26, 1893Richmond DispatchRichmond, VA
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Article Text
Banks Resumed Business. SAN BERNARDINO, CAL. Aug. 25The Farmers' Exchange National Bank was reopened yesterday. RIVER FALLS, WIS. Aug. 25-The Bank of River Falls, which suspended a week ago, resumed business yesterday.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
