Mitchell Street Savings Bank

The Mitchell Street State Bank was one of seven Milwaukee banks that were put on moratorium on July 19, 1932 by state banking authorities. The banks could receive new deposits and permit withdrawals against the new deposits.

The existing deposits earned 3% and were to be paid out over three years on the following schedule:

DateAmount Payable
January 19, 1933
July 19, 19335%
November 19, 193310%
March 19, 193410%
July 19, 193415%
November 19, 193415%
March 19, 193520%
July 19, 193520%

Eight different certificates of deposit like the one shown above were issued to all depositors with due dates as listed in the table. The bank was returned to good standing by February 20, 1934 and all of the certificates were then payable on demand.

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