Chilton National Bank, Chilton, WI (Charter 5933)
Chilton National Bank, Chilton, WI (Chartered 1901 - Receivership 1933)
Town History
Chilton is a city in and county seat of Calumet County in the U.S. state of Wisconsin. The population was 4,080 at the 2020 census.
The first residents of Chilton were African-American former slave Moses Stanton and his Native-American wife, Catherine, who arrived in January 1845. The city formed around his saw mill and a grist mill a few years later.
The village was originally called Stantonville. John Marygold bought the place in 1852 and called it "Chilington," referring to Chillington Hall in England. He sent a verbal message to have the name change recorded in Stockbridge, then the county seat. Because the middle syllable in the name was accidentally omitted, the municipality was recorded as Chilton. An alternative explanation for the name is that it was a reference to a village called Chilton near Oxford, England.
The county seat was changed to Chilton in December 1853 and the county's first courthouse was started in 1859 and completed in 1865 at a cost of $5,000. The city of Chilton was incorporated in 1877. Most Chilton residents in the 19th century had German heritage.
Chilton had one National Bank chartered during the Bank Note Era, and it issued National Bank Notes.
Bank History
- Organized July 31, 1901
- Chartered August 3, 1901
- Conservatorship June 29, 1933
- Receivership December 7, 1933
In August 1901, the Comptroller of the Currency authorized the Chilton National Bank to begin business with capital of $50,000. Julius Feind was president, Wm. J. Paulsen, cashier. A number of local Green Bay capitalists were interested in the bank and planned to locate in a new building of its own by the beginning of winter. The bank purchased a corner lot adjoining the Chilton house, and H.A. Foeller of Green Bay was commissioned to furnish the plans for the building. The location was the corner opposite the German Exchange Bank. Otto Rineboldt, proprietor of the Chilton House sold the property to the Chilton National Bank for $5,000. A new bank building and hotel were planned for immediate construction on the site.
In February 1902, the Chilton House, one of the oldest buildings in Chilton or in the state, was coming down soon to make way for a modern structure. Articles of association were filed with the secretary of state by the promoters of the new project. In March, the association known as the Chilton Hotel Company, with a capital stock of $15,000, would elect officers and appoint of a committee to select plans and let the contract for the new building. Work on the Chilton National bank building, which began last summer, was nearing completion, and the officers hoped to move into it by March 1st.
On Thursday, January 28, 1909, Julius Feind, president of the Chilton National Bank, died at the age of 81 years. Mr. Feind was born in Hanover, Germany, in 1828, and came to Wisconsin fifty-one years ago. He was a man of varied business experiences, having been a farmer, harness-maker, hotel-keeper, land dealer, and banker. Mr. Feind became actively identified with the development of northern Wisconsin around 1874 and at one time owned several thousand acres of land from the sale of which he became wealthy. When the Chilton National Bank was formed in 1901, Mr. Feind was elected president, and served in that capacity ever since. He was unmarried.
At the close of business, November 26, 1912, the bank had loans and discounts of $341,206.85, Bonds of $126,800, Bank Building $10,495.77, and total resources of $577,321.32. The capital stock was $50,000, Surplus and Undivided Profits $30,059.38 and a circulation of $50,000. The officers were Wm. J. Paulsen, president; August N. Schewe, cashier; Cecilia M. Bosshard and Joseph Gruber, bookkeepers. The directors were Wm. J. Paulsen, Mitchell Joannes, Wm. N. Knauf, Henry Rollmann, A. Noll, A.A. Paulsen, and Frank Tesch.
On Tuesday, January 12, 1926, the stockholders of the Chilton National Bank held their annual meeting and elected the following Board of Directors: Oscar L. Dorschel, William N. Knauf, Andrew Noll, William J. Paulson, William F. Pinnow; Henry Rollmann and Frank Tesch. The following officers were then elected: President, William J. Paulsen; vice president, William N. Knauf; cashier, Walter A. Kurtz; assistant cashier, M. Cecilia Bosshard.
On Tuesday, January 10, 1933, the stockholders elected the following board of directors: William Aebischer, H.F. Arps, William N. Knauf, Walter Kurtz, Dr. R.C. McGrath, William Pinnow and Frank Tesch. The board then elected the following officers: president, Walter Kurtz; vice president, William Knauf; cashier, M. Cecilia Bosshard; and bookkeeper, Lorin Schumacher.
On June 29, 1933, William F. Pinnow, one of the directors of the Chilton National bank, was appointed conservator by the comptroller of the currency. In his capacity as conservator, he assumed the duties of the officers and board of directors, working directly under the comptroller of the currency.
In October 1934, according to an announcement by H.W. Krueger, federal receiver, the creditors of the Chilton National Bank would receive a 70% dividend on proven claims, total payments on this dividend to approximate $173,405. Payment of this 70% dividend was made possible, Mr. Krueger said, by a substantial loan from the Reconstruction Finance Corporation. Dividend checks were prepared and forwarded to Washington for official signature. Upon return they would be ready for distribution.
In December, 1936, H.W. Krueger, receiver of the Chilton National bank for the past three years, was appointed by the comptroller of the currency as receiver for the American National Bank and the First National Bank of Marshfield. He was succeeded by E.J. Bosworth of Green Bay, who would continue the liquidation of the Chilton bank.
Walter A. Kurtz, 76, Baldwin St., Chilton, died Wednesday morning, January 28, 1959 at Calumet Memorial Hospital. Mr. Kurtz had been a banker at the now defunct Chilton National Bank and had served as county clerk, an office he retired from due to ailing health. He was born in Milwaukee on October 9, 1883. He married Grace Forespan, March 31, 1906 in Milwaukee. Mr. Kurtz was a member of Masonic Lodge 154, Wisconsin 320; Royal Arch, Chapter A.A.M.; he was a past president of the Wisconsin Gladiolus Society and of Calumet Chapter, Order of the Eastern Star.
Official Bank Title(s)
1: The Chilton National Bank, Chilton, WI
Bank Note Types Issued
A total of $715,870 in National Bank Notes was issued by this bank between 1901 and 1933. This consisted of a total of 84,518 notes (69,044 large size and 15,474 small size notes).
This bank issued the following Types and Denominations of bank notes:
Series/Type Sheet/Denoms Serial#s Sheet Comments 1882 Brown Back 3x10-20 1 - 2700 1882 Date Back 4x5 1 - 2730 1882 Date Back 3x10-20 1 - 1720 1882 Value Back 4x5 2731 - 4810 1882 Value Back 3x10-20 1721 - 2874 1902 Plain Back 4x5 1 - 4039 1902 Plain Back 3x10-20 1 - 2838 1929 Type 1 6x5 1 - 1619 1929 Type 1 6x10 1 - 758 1929 Type 1 6x20 1 - 202
Bank Presidents and Cashiers
Bank Presidents and Cashiers during the National Bank Note Era (1901 - 1933):
Presidents:
Cashiers:
- William J. Paulsen, 1901-1908
- Amelia A. "Milly" Knauf, 1909-1910
- August Nicholas Schewe, 1911-1918
- Walter A. Kurtz, 1919-1927
- Maria Cecelia Bosshard, 1928-1932
Other Bank Note Signers
- There are currently no known Vice President or Assistant Cashier bank note signers for this bank.
Wiki Links
- Wisconsin Bank Note History
- General information on Chilton (Wikipedia)
- General information on Calumet County (Wikipedia)
- General information on Wisconsin (Wikipedia)
Sources
- Chilton, WI, Wikipedia, https://en.wikipedia.org/wiki/Chilton,_Wisconsin
- Don C. Kelly, National Bank Notes, A Guide with Prices. 6th Edition (Oxford, OH: The Paper Money Institute, 2008).
- Dean Oakes and John Hickman, Standard Catalog of National Bank Notes. 2nd Edition (Iola, WI: Krause Publications, 1990).
- Banks & Bankers Historical Database (1782-1935), https://spmc.org/bank-note-history-project
- Minneapolis Daily Times, Minneapolis, MN, Sun., Aug. 4, 1901.
- Green Bay Press-Gazette, Green Bay, WI, Wed., Aug. 28, 1901.
- The Dunn County News, Menomonie, WI, Fri., Sep. 6, 1901.
- The Herald, Readstown, WI, Thu., Feb. 27, 1902.
- The Intelligencer, Viola, WI, Wed., Feb. 3, 1909.
- The Post-Crescent, Appleton, WI, Wed., Jan. 20, 1926.
- The Post-Crescent, Appleton, WI, Wed., Jan. 11, 1933.
- The Post-Crescent, Appleton, WI, Tue., July 11, 1933.
- The Post-Crescent, Appleton, WI, Fri., Oct. 19, 1934.
- Green Bay Press-Gazette, Green Bay, WI, Mon. Dec. 7, 1936.
- The Sheboygan Press, Sheboygan, WI, Tue., Aug. 4, 1953.
- Chilton Times Journal, Chilton, WI, Thu., Feb. 5, 1959.