Suspension by mayoral civic holiday is explicit; reopening is implied by deferred-payment approval but not explicitly stated.
Events (4)
1.April 13, 1912Chartered
Source
historical_nic
+21 years
2.January 31, 1933Suspension
Cause
Government Action
Cause Details
Board voted to take advantage of a mayoral civic holiday proclamation to protect depositors; bank suspended for 30 days.
Newspaper Excerpt
The Citizens' National Bank suspended business today for a thirty day period. Harry Heineman, president, announced that the board of directors had voted to take advantage of a civic holiday proclaimed by Mayor W. H. Aubuchon.
Source
newspapers
+9 days
3.February 9, 1933Other
Newspaper Excerpt
About 500 depositors of the Citizens' National Bank, which suspended Jan. 31, approved a deferred payment plan last night. Approval of other depositors is sought.
Source
newspapers
+70 days
4.April 20, 1933Voluntary Liquidation
Source
historical_nic
Newspaper Articles (10)
1.January 31, 1933The Sheboygan PressSheboygan, WI
Article Text
Bank At Merrill Has Suspended Business
Merrill, Wis. —(AP)— The Citizens' National Bank suspended business today for a thirty day period. Harry Heineman, president, announced that the board of directors had voted to take advantage of a "civic holiday" proclaimed by Mayor W. T. Au Buchon. The mayor's proclamation stated that action was taken to protect depositors of the institution. The Lincoln county bank remained open for usual business, as did the American State Bank, which is operating under a deferred payment plan.
2.January 31, 1933The Oshkosh NorthwesternOshkosh, WI
Article Text
SAYS ALLOTMENT PLAN WOULD MAKE PRICES OF FOOD PRODUCTS HIGHER
G Vosburgh D. that the plan would place and pork high in the nation's for the consumer reach before today miller and livestock The agriculture committee Fred Lingham of Lockport N Y representing the miller's national federation that the would turn of the of Will Topeka of to that the bill would pork would he yet hog favored the allotment Are with big meat McNary Oregon Absolutely not The packers opposed the terday The feature of the bill would of of our The bill taxing the processor of selected farm price on his consumed output provided he production 20 A new addition farm plans made day by Senator Shipstead Farmerfor the refinancing of the entire farm which he estimated at more than 000.000. Under the plan the government would take over all farm giving the holder in turn federal bonds in years but callable after 30 years The government would grant the farmer moratorium payment and the debt would be amortized by small principal and interest payments over 46-year
BANK HOLIDAY AT KIEL IS DECLARED
Madison A business holiday has been declared by the two banks Kiel. Wis the state banking department said today The bank the State bank of kiel, and the Citize State bank of Kiel The banking department said its records did not show how long the holiday period will be BANK CLOSES Merrill, Wis. The Citizens National bank suspended business today for day period. Harry
Heineman president that the board of voted to take of holiday proclaimed by Mayor W H. Aubuchon The lamation stated that taken to protect depositors institution The Lincoln County bank remained open for usual did the American State bank which operating under
CLOSED BY STATE
Milwaukee The bank department today closed Hopkins Street State neighborhood institution Roland Teske director pressed belief that every depositor will be paid in full. Schaefer of the Wisconsin banking depart ment termed the closing more of liquidation than suspension. Heavy withdrawals Schaefer said reduced deposits from $660,000 June, 1931, to about $96,000 and of ficials said that with such small sum it longer possible to operate profitably
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3.January 31, 1933Wausau Daily HeraldWausau, WI
Article Text
State Bank Reopens Today at Waupaca
Holiday Declared at Merrill For One Bank; Two Others Remain Open
Waupaca, Jan The Fat mers' State bank. which suspended business Saturday reopened today The city other bank the Waupac cials predicted will reopen soon under a waiver plan
Merrill, Jan 31 The Citi zens' National bank suspended but iness today for thirty-day period Harry Heineman president nounced the board of directors had voted to take advantage of proclaimed by Mayor W. H Aubuchon. The mayor proc lamation stated that action was ta ken depositors of the in stitution The Lincoln bank remained open usual business as did the American State bank which operating under de ferred payment plan
Madison Jan 31.-(P)- A business holiday has been declared by the two state banks at Kiel the state banking department said todak The banks are the State Bank of Kiel and the State bank of Kiel The banking department said its records did not show how long the holiday period will be
4.January 31, 1933The Capital TimesMadison, WI
Article Text
Citizens' National Closes at Merrill
Bank Directors Take Advantage Mayor's Holiday Plan
MERRILL. Citizens National suspended business day for period. Harry Heineman, president. announced that the board directors had voted to take advanatge holiday" claimed by Mayor H. Aubuchon The mayor's stated that action was taken protect depositors the The Lincoln County remained open for usual business. did the American State which operating under deterred payment plan.
Waupaca Bank Reopens FarmState bank. which suspended reopened today The other the Waupaca National. remained but predicted will reopen seen under waiver plan.
Close Milwaukee Bank state banking department today closed the Hopkins Street State bank. neighborhood Roland Teske. director. expressed belief that depositor will full. Schaffer of the Wisconsin banking termed the closing more liquidation than
5.January 31, 1933Kenosha NewsKenosha, WI
Article Text
Merrill Bank Shuts Doors for 30 Days
Merrill, Wis. —(AP)— The Citizens' National bank suspended business today for a 30-day period. Harry Heineman, president, announced that the board of directors had voted to take advantage of a "civic holiday" proclaimed by Mayor W. H. Au Buchon. The mayor's proclamation stated that action was taken to protect depositors of the institution. The Lincoln County bank remained open for usual business, as did the American State bank, which is operating under a deferred payment plan.
6.February 1, 1933Chippewa Herald-TelegramChippewa Falls, WI
Article Text
Merrill Bank Closes for 30 Day Period
Merrill, Wis. (AP)—The Citizens' National Bank suspended business today for a thirty-day period. Harry Heineman, president, announced that the board of directors had voted to take advantage of a "civic holiday" proclaimed by Mayor W. H. Au Buchon. The mayor's proclamation stated that action was taken to protect depositors of the institution. The Lincoln County Bank remained open for usual business, as did the American State Bank, which is operating under a deferred payment plan.
7.February 9, 1933The Stoughton CourierStoughton, WI
Article Text
BANK WAIVER
Merrill, Wis., —(AP)— About 500 depositors of the Citizen's National Bank, which suspended business Jan. 31, approved a deferred payment plan last night. Approval of other depositors is sought.
8.February 9, 1933The Oshkosh NorthwesternOshkosh, WI
Article Text
APPROVE DEFERRED PAYMENT PLAN FOR BANK AT MERRILL
Merrill, Wis. About 500 positors the Citizens' National bank which suspended Jan approved deferred payment plan last night Approval of other tha the event of sickness. death other emergency be allowed withdraw of their money held the bank Depositors not unusual emergencies would percentages of their deposits extended period The State bank here ready operating under deferred payment while the Lincoln County bank never was obliged to plan
9.February 9, 1933The Journal TimesRacine, WI
Article Text
ROME, Feb. 9.—(AP)—The Austrian cardinal of the Curia, Andrew Fruhwirth chancellor of the Roman Catholic church, died today at the age of 87. He was a Dominican and had been a cardinal 17 years.
WASHINGTON, Feb. 9.—(U.P.)—House republican leader Snell today joined with prominent democrats in opposition to European proposals for a lump sum settlement of the war debts.
MERRILL, Wis., Feb. 9.—(AP)—About 500 depositors of the Citizens' National bank, which suspended business Jan. 31, approved a deferred payment plan last night. Approval of other depositors is sought.
DETROIT, Feb. 9.—(AP)—Resumption of steady production late today was predicted by officials of the Hudson Motor Car company, with their announcement that 1,000 of the 4,200 men employed before the walkout in the body plants Tuesday were back at their benches.
CHICAGO, Feb. 9.—(AP)—A trip to Washington in the interest of a senate investigation of the collapse of the Insull utility holding companies was in progress for 10 Chicagoans prominent in the banking and business world following the serving of subpoenas.
WASHINGTON, Feb. 9.—(AP)—The customs bureau notified the senate today that passage of the treasury bill as it stands with its drastic economies would necessitate discharge of 1,500 men June 30; would open the Canadian and Mexican borders to wholesale liquor smuggling and perhaps close all of the 40 odd inland customs offices except Chicago.
10.February 9, 1933Kenosha NewsKenosha, WI
Article Text
Approve Deferred Bank Pay Plans
Depositors of Merrill Citizens National Bank in Approval of Plan
Merrill, Wis.—(AP)—About 500 depositors of the Citizens' National Bank, which suspended business Jan. 31, approved a deferred payment plan last night. Approval of other depositors is sought.
It was agreed that in the event of sickness, death or other emergency depositors were to be allowed to withdraw 50 per cent of their money held by the bank. Depositors not facing unusual emergencies would receive smaller percentages of their deposits over an extended period.
The American State Bank here already is operating under a deferred payment plan, while the Lincoln County Bank never was obliged to adopt a moratorium plan.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.