State Bank (Hilbert, WI)

Episode Information

Episode UID
8635617191592
Episode Type
Suspension β†’ Reopening
Bank Type
state
Bank ID
863561719 hash
Start Date
August 23, 1932
Location
Hilbert, Wisconsin (44.140, -88.164)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
de678182ebf4f2bf

Response Measures

None

Description

The bank utilized a local holiday proclamation to suspend operations for reorganization; while deposits had dropped significantly, no specific 'run' event is described prior to the suspension.

Events (2)

1. August 23, 1932 Suspension
Cause
Government Action
Cause Details
The bank took advantage of a 16-day legal holiday proclaimed by the Village President to reorganize.
Newspaper Excerpt
The Hilbert State bank today took advantage of a 16 day legal holiday and remained closed while officials worked out reorganization plans.
Source
newspapers
2. September 8, 1932 Reopening
Newspaper Excerpt
Under the reorganization plan, the bank will be reopened before Sept. 8
Source
newspapers

Newspaper Articles (2)

Article Text

WAIVERS FOR 50 Thirty Per Cent More Needed to Permit Reorganization. Up o'clock this afternoon had signed covering deposits the FarmExchange bank, signed up bring cent before reorganization plans carried through. must completbefore expiration the "holiday" o'clock Friday mornwhich time the bank must either business suspend. Officers the state banking partment again urged depositors and sign their waivers earliest possible The bank open from m. convenience. cause the number deposimpossible for the the department them the amount they urgentstop the bank inin to was response Saturday night's meeting that accounts- probably $20 be paid the first dividend, in order save bookkeeping expense. Large numbers depositors visited the yesterday. and within less nearly doubled which had been filed the present slightly more than day should reached. HOLIDAY IN HILBERT The HilState bank today advantage legal holiday and remainclosed while officials worked plans. The holiday proclaimed by President Delanty and cluded all business except dealing necessary Only the however, took vantage the proclamation Deposits said. Under the plan bank will reopened Sept. cent, Cashier John said. BANK RECORD GOOD bank record during the past especially the first has better this section Middle stabilization director the banking reported Gov. Philip For the period since Jan. Wisconsin had per cent its total deposits tied Kuehl reported. On the Federal Reserve bulletins Kuehl reported that per cent deposits in Iowa tied in 3.93 Illinois, one per cent South North per and cent Minnesota. The these figures was compared cent United States Banks Suspended banks During Kuehl Illinois, reported. in Misin Minnein "While banking record for the entire months period by these reports favorable, significant that during the first record months Kuehl became stabilization program banking department. became legislation erative 1932." the his report Many states stabilization to Wisconsin's, he similar stated. DEFERRED PLAN CLAIM ON today said that Journal shows that survey first of the year in the consin: banks have been suspendEighteen with deposits banks have deferred payment plan, deposits The banks, either suspended time under the year deposits of during The Journal said that ago was made the request full account the partment suspended banks and those under the not giving that the Journal Mr. Kuehl having said don't for fear that would lead to trouble. said about the banking the Journal said der stabilization depositor's money tied up months longer the commisbanking decides. the sioner bank proves its the Journal the waiver stabilization agreement be called off before the period ends.


Article Text

HILBERT BANK TAKES HOLIDAY By United Press Hilbert.β€”The Hilbert State bank today took advantage of a 16 day legal holiday and remained closed while officials worked out reorganization plans. The holiday was proclaimed by Village President T. L. Delanty and included all business places except those dealing in necessary commodities. Only the bank, however, took advantage of the proclamation. Deposits have dropped from $1,100,000 to $750,000, officials said. Under the reorganization plan, the bank will be reopened before Sept. 8 and depositors probably will not lose a cent, Cashier John N. Jaeckels said.