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Ironwood Bank Closures Trigger Depositor Run and Audit
The People's Bank in Ironwood closed Wednesday morning amid a prior Bank of Ironwood collapse and a $40,000 depositor drain over two weeks. Mr Curry and associates aim to convert loans to cash with $500,000 in securities offsetting $82,000 liabilities, and a 90 day payout plan. Gogebic National Bank may take over, while the Wisconsin State Bank Commissioner reports a $900,000 misappropriation at the Bank of Ironwood successor, triggering a 200 percent stock assessment.
MENTIONED IN THIS ARTICLE
People’s Bank
Ironwood
Carry & Co
Bank of Ironwood
Curry
Gogebic National Bank
Wisconsin State Bank
A. E. Koult
Frederick Karate
Sheboygan
Koult
Karste
Sheboygan Bank
Hurley Miner
Board of Education
Bessemer
Messrs. Johnston
Barber
Byrne
Chaney
Paradis
Truettner
John R. Johnson
Otto B. Olson
John Blaskowski
Eugene Dietzen Co
Herald Pub. Co
J. W. Pepper & Son
Personal Ree
E. R. Baylise
Mdse
Bessemer Pharmacy
C. R. Cobb
John Frick
Mdee
Larson & Olson
J. R. Johnson
J.J. Frick and
Mullen Bros
Johnson
Mr. Paradis
G. H. Marketrum
Markstrom
Washington School
Sophie Street
City of
Bessemer Herald
New Free Preas
Gogebic County
Michigan
Messrs
Alex Strom
Iver H. Hagen
William I. Russell
G.8. Barber
C. R. Cons
Secy
Protem