Title: State Bank of Prentice Records
Inclusive Dates: 1920-1937

Creator:

• State Bank of Prentice (Prentice, Wis.)

Call Number: Northland Mss 10

Quantity: 2.0 c.f. (2 archives boxes and 7 volumes)

Repository:

Housed at the Area Research Center, History Center and Archives, Northern Great Lakes Visitor Center; owned by the Wisconsin Historical Society, Division of Library, Archives, and Museum Collections

Archival Locations:

COLLECTION MAY BE STORED OFF-SITE: see catalog entry to request materials and for additional information.

Northern Great Lakes Visitor Center / Ashland Area Research Ctr. (Map)

Abstract:

Records of a small country bank that closed its doors in 1927 and completed liquidating its assets in 1937; consisting of cashier's correspondence relative to loan accounts, 1921-1925; tax returns, 1931-1936; commissioner's reports concerning liquidation; and bank ledgers relating to accounts and expenses, 1920-1937.

Language: English

URL to cite for this finding aid: http://digital.library.wisc.edu/1711.dl/wiarchives.uw-whs-nort0010

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The State Bank of Prentice was a small country bank which served the business and farm community in and around Prentice, Wisconsin. The bank closed its doors at the end of business on February 17, 1927. The liquidation of assets and satisfaction of liabilities were carried out according to state law by a special deputy commissioner of the State Banking Department; and the final settlement of the affairs of the defunct bank took place in December 1937.

The cashier's correspondence, 1921-1925, consists of alphabetically arranged correspondence of the cashier relative to loan accounts. The correspondence is indicative of the scarcity of money for loans and the poor financial condition of the community. This was reflected in the inability of many to meet their loan payments. Correspondence with the First National Bank of Phillips is of special interest in that the major stockholders of both banks were the same, The correspondence filed with legal documents, 1932-1937, of Peter E. Reedal, one of the major stockholders of the State Bank of Prentice.

Financial records for 1920 to 1937 include reports of the Special Deputy Commissioner from November 1931 to May 1937, and income tax returns for 1931 to 1936. The nine volumes in the collection contain various financial accounts, as indicated by their titles given below. Volumes 3-5, “Liability Ledgers”, are records of loans outstanding. Volume 6, “Bank Tickler,” and Volume 7, “Bills Receivable and Interest Paid,” both include records relating to the amounts received on outstanding notes.

Acquisition Information

Presented by the Clerk of the County Court, Price County, Wis.

Processing Information

Processed by D. Johnson and Margaret Hafstad, March 19, 1969.

	Cashier's correspondence
Box   1 Folder   1	A-F, 1921-1925
Box   1 Folder   2	G-J, 1921-1925
Box   1 Folder   3	K-Z, 1921-1925
Box   1 Folder   4	Legal documents with correspondence, concerning liquidation, 1932-1937
	Reports of special deputy commissioner
Box   1 Folder   5	1931-1933
Box   1 Folder   6	1934-1937
Box   1 Folder   7	Income tax returns, 1931-1936
Volume   1	Journal, 1926-1937
Volume   2	General ledger, 1927-1937
	Liability ledger
Volume   3	1920-1925
Volume   4 In_Box   2	1926
Volume   5 In_Box   2	1927
Volume   6	Bank Tickler, 1923-1925
Volume   7	Bills receivable and interest paid, 1925-1930
Volume   8	Daily statements, 1923-1937
Volume   9	Distribution of expense, 1927-1937