William Plankinton: Difference between revisions

|death_date = {{death date and age|1905|34|29|1843|11|7}}

'''William Plankinton''' (November 7, 1843 – MarchApril 29, 1905) was an American businessman, manufacturer, and industrialist. He followed in his father's footsteps in the meat packing and meat processing industry.

Plankinton helped found and organize several companies, including the Milwaukee-based [[Johnson Controls#History|Johnson Electric Company]].<ref name=WSJ4_11_1985>{{cite news |last=Martin|first=Chuck |title=Johnson Controls a model for future |url= https://www.newspapers.com/clip/58154095/ |newspaper= Wisconsin State Journal |location=Madison, Wisconsin|date= April 11, 1985 |via= [[Newspapers.com]] {{open access}} }}</ref> He founded and was part owner of the Western Portland Cement company in [[Yankton, South Dakota]].{{sfn|Wilson|Fiske|Dick|1915|p=997}} Plankinton held several public offices and was a director of the Milwaukee museum, the city public library, and the Milwaukee industrial exposition.{{sfn|Wilson|Fiske|Dick|1915|p=997}} He was also associated with Layton art gallery and the local Chamber of Commerce.<ref name=WisSociety>{{cite web |url=http://www.wisconsinhistory.org/Content.aspx?dsNav=Ny:True,Ro:0,N:4294963828-4294963805&dsNavOnly=N:1220&dsRecordDetails=R:CS4410&dsDimensionSearch=D:%22William+Plankinton%22+,Dxm:All,Dxp:3&dsCompoundDimensionSearch=D:%22William+Plankinton%22+,Dxm:All,Dxp:3 |title=Brief biography of John Plankinton, a meat packer and businessman|website=Historical Essay of Plankinton, John (1820–1891) |date=22 January 2015 |publisher= Wisconsin Historical Society|access-date=January 29, 2017 }}</ref> Plankinton was one of the financial backers of the [[Postal Telegraph Company]] that involved telegraph lines in Wisconsin and Michigan.<ref name=TON12_17_1895>{{cite news |author=<!--Staff writer(s); no by-line.--> |title=Postal Telegraph Co. |url= https://www.newspapers.com/clip/58152064/ |newspaper= The Oshkosh Northwestern |page=2|location=Oshkosh, Wisconsin|date= December 17, 1895 |via= [[Newspapers.com]] {{open access}} }}</ref>

Plankinton became vice-president of the Plankinton Bank in 1891 upon [[John Plankinton|his father]]'s death.<ref name=BankFailure>{{cite news |author=<!--Staff writer(s); no by-line.--> |title=CLOSED ITS DOORS |url= https://www.newspapers.com/clip/8672098// |newspaper= Wichita Beacon|location=Wichita, Kansas|date= June 1, 1893 |via= [[Newspapers.com]] {{open access}} }}</ref> He was involved with settling the affairs when the bank failed in 1893.<ref name=succumbed>{{cite news |author=<!--Staff writer(s); no by-line.--> |title=Finally Succumbed |url=https://www.newspapers.com/clip/8672168// |newspaper=Sedalia Weekly Bazoo |location=Sedali,Missouri |date= June 6, 1893 |via=[[Newspapers.com]] {{open access}} }}</ref><ref name=indicted>{{cite news |author=<!--Staff writer(s); no by-line.--> |title=Many Indicted |url=https://www.newspapers.com/clip/8672382// |newspaper=Logansport Reporter |location=Logansport, Indiana |date= July 13, 1893 |via=[[Newspapers.com]] {{open access}} }}</ref><ref name=BankUnder>{{cite news |author=<!--Staff writer(s); no by-line.--> |title= Bank Failure / The Plankinton Bank at Milwaukee Suspends |url= https://www.newspapers.com/clip/8672608// |newspaper=Parsons Daily Sun |location= Parsons, Kansas |date= June 2, 1893 |via=[[Newspapers.com]] {{open access}} }}</ref> The bank crisis involved a scandal of fraud and embezzlement in which Plankinton was implicated.<ref name=ChicagoChron8_15_1897>{{cite news |author=<!--Staff writer(s); no by-line.--> |title= May yet have to pay |url= https://www.newspapers.com/clip/58186207/ |newspaper= The ChicagoChronicle |location= Chicago, Illinois|date= August 15, 1897 |via=[[Newspapers.com]] {{open access}} }}</ref> He was sued to pay back all that was owed to the depositors and creditors.<ref name=MRMICR7_22_1893>{{cite news |author=<!--Staff writer(s); no by-line.--> |title= A Judge at the bar |url= https://www.newspapers.com/clip/58127165/ |newspaper= Montreal River Miner and Iron County Republican |location= Hurley, Wisconsin|date= July 22, 1893 |via=[[Newspapers.com]] {{open access}} }}</ref><ref name=PDD9_26_1894>{{cite news |author=<!--Staff writer(s); no by-line.--> |title= To arrest F.T. Day |url= https://www.newspapers.com/clip/58128570/ |newspaper= Portage Daily Democrat |location= Portage, Wisconsin|date= September 26, 1894 |via=[[Newspapers.com]] {{open access}} }}</ref><ref name=TON8_9_1899>{{cite news |author=<!--Staff writer(s); no by-line.--> |title= Plankinton sued |url= https://www.newspapers.com/clip/58130713/ |newspaper= The Oshkosh Northwestern |location= Oshkosh, Wisconsin|date= August 9, 1899 |via=[[Newspapers.com]] {{open access}} }}</ref>

Loans made by the bank to Frank A. Lappen and his companies totaling almost $300,000 precipitated the crisis.<ref name=BigBankFails>{{cite news |author=<!--Staff writer(s); no by-line.--> |title= The Big Bank Closed / The Plankinton Institution Fails at Milwaukee |url=https://www.newspapers.com/clip/8673098// |newspaper= Scranton Republican |location= Scranton, Pennsylvania|date= June 2, 1893 |via=[[Newspapers.com]] {{open access}} }}</ref><ref name=TAC6_10_1893>{{cite news |author=<!--Staff writer(s); no by-line.--> |title= A Broken Bank|url= https://www.newspapers.com/clip/58185845/|newspaper= The Appleton Crescent |location= Appleton, Wisconsin|date= June 10, 1893 |via=[[Newspapers.com]] {{open access}} }}</ref><ref name=GBPG7_13_1893>{{cite news |author=<!--Staff writer(s); no by-line.--> |title= Under Arrest / Officers and Directors of the Plankinton Bank indicted |url= https://www.newspapers.com/clip/58187427/ |newspaper= Green Bay Press-Gazette |location= Green Bay, Wisconsin|date= July 13, 1893|via=[[Newspapers.com]] {{open access}} }}</ref> Lappen was summoned to court to testify about his failure to pay back creditors $750,000, but disappeared to Mexico and could not be extradited.<ref name=ChicagoTrib7_13_1893>{{cite news |author=<!--Staff writer(s); no by-line.--> |title= All Found Culpable / Plankinton bank officers and Lappen are indicted |url= https://www.newspapers.com/clip/58186025/|newspaper= Chicago Tribune |location= Chicago, Illinois|date= July 13, 1893 |via=[[Newspapers.com]] {{open access}} }}</ref> [[Philip Danforth Armour]], the Chicago meat packer businessman of [[Armour and Company]], was reported to have given $600,000 in gold to help the Plankinton bank pay back those it owed money to.<ref name=TLT6_2_1893>{{cite news |author=<!--Staff writer(s); no by-line.--> |title= Its Doors are Closed / The Plankinton Bank of Milwaukee suspended|url= https://www.newspapers.com/clip/58186549/ |newspaper= The Leavenworth Times |location= Leavenworth, Kansas|date= June 2, 1893 |via=[[Newspapers.com]] {{open access}} }}</ref>