11798. Citizens National Bank (Hendersonville, NC)

View Charter #10734 on SPMC

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 10734
Charter Number: 10734
Start Date: November 20, 1930
Location: Hendersonville, North Carolina (35.319, -82.461)

Metadata

Model: gpt-5-mini
Short Digest: 8cc1e547

Response Measures

Full suspension, Books examined

Receivership Details

Depositor recovery rate: 15.6%
Date receivership started: 1930-11-28
Date receivership terminated: 1938-10-28
OCC cause of failure: Governance
Share of assets assessed as good: 35.2%
Share of assets assessed as doubtful: 46.0%
Share of assets assessed as worthless: 18.8%

Description

Multiple contemporaneous articles (Nov 20, 1930) report heavy withdrawals/runs on the Citizens National Bank of Hendersonville; the bank closed its doors that day 'to prevent runs' and was later placed in liquidation/receivered and never resumed normal operation (liquidation and receivers mentioned in later local articles). The immediate trigger was the collapse/failure of the larger Central Bank & Trust Co. in Asheville and related local runs (reports attribute closings to panic/hysteria following other local bank failures and a deflated real-estate boom).

Events (6)

1. May 4, 1915 Chartered

Source: historical_nic

2. November 20, 1930 Run

Cause: Local Banks
Cause Details: Runs developed in Hendersonville following the failure/closure of the Central Bank & Trust Company in Asheville and related local bank failures; withdrawals and panic in the wake of those closures precipitated heavy withdrawals at Citizens National.
Measures: Closed doors to prevent runs; officials declared the institution solvent and announced intent to reopen (initially).
Newspaper Excerpt: runs developed on the American Bank and Trust company and the Citizens National and they soon closed.
Source: newspapers

3. November 20, 1930 Suspension

Cause: Local Banks
Cause Details: Closed in direct response to heavy withdrawals and runs in the locality triggered by other bank failures (Central Bank & Trust Company in Asheville).
Newspaper Excerpt: First Bank and Trust Company ... failed to open for business today and the Citizens National Bank ... closed their doors to prevent runs.
Source: newspapers

4. November 28, 1930 Receivership

Source: historical_nic

5. September 5, 1931 Other

Newspaper Excerpt: Sept ... suit filed by Henderson county against Cunningham, receiver, Citizens National Bank of Hendersonville. The complaint states ... collateral ... was in the custody of the bank when closed on November 20 and is now in the possession of the bank receiver.
Source: newspapers

6. * Receivership

Newspaper Excerpt: Suit filed ... against Cunningham, receiver of Citizens National bank of Hendersonville, which closed its doors the same time that four State banks were closed November; later references identify Hilliard B. Atkins and others as receiver/liquidator for the Citizens National Bank in subsequent years (1931-1936).
Source: newspapers

Newspaper Articles (21)

1. November 20, 1930 The Advocate-Messenger Danville, KY

Article from The Advocate-Messenger, November 20, 1930

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BANK FAILURES (United Press) LOUISVILLE, KY., Nov. Union Central Bank failed The today, making the sixth Louisbank to close this week and the twelfth in Kentucky. The Bank correspondent bank of the National Bank of Kentucky, also failed to open. Geo. Ewald, of the Union Central president Bank, said the closing is temporand that the bank is solvent. Asheville Banks Close. ASHEVILLE, Nov. Central Bank and Trust of Asneville, largest bank Company western North Carolina, and Bank, stitution, failed to open for They are state banks today. and partially owned by the interests. The American National Bank weathering heavy run noon. Failure at Hendersonville. HENDERSONVILLE, N. C., Nov. 20. First Bank and Trust Company of Hendersonville, institution, failed to open business today and the Citizens National Bank and the Bank and Trust Company immedclosed their doors to prevent runs, lines of depositors formThe latter two were declared solvent by officials. Cold Wave On. Order that load REGAL. Farmers Supply Co. 169-tf

2. November 20, 1930 New Britain Herald New Britain, CT

Article from New Britain Herald, November 20, 1930

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6 NORTH CAROLINA BANKS IN TROUBLE Asheville Institution Has $18 000.000 On Deposit Asheville, N. C., Nov. 211 (AP)-The Central Bank & Trust company, largest financial institution in this immediate section. failed to open for business today and by noon five other western North Carolina banks had closed their doors. Capitalized at $1,000,000. the Central Bank & Trust Company on September 24. the date of the last bank call. had deposits of approximately $18,000,000. Its resources were given at that time as $21.753,000. Other banks closing were the Bill. more-Oteen bank here. including its branch at Oteen Veterans' hospital; the First Bank & Trust company, it. ndersonville: the American Bank Trust company Hendersonville, are Citizens' National bank. Hen. onville and the Bank of Low. 11. Lowell. N. C. Examiner Expected John Mitchell. state bank examinor. was notified of the Central Bank & Trust company's failure to open and was expected to send an examiner here immediately to take charge of it. A statement given out by the board of directors said the bank was closed in anticipation of a heavy run. "This action." the statement said. was taken solely to conserve the interests of the depositors and only after it became apparent that such 2 step was wise. During the past few days the bank has been forced to withstand heavy withdrawals of funds."

3. November 20, 1930 The Leaf-Chronicle Clarksville, TN

Article from The Leaf-Chronicle, November 20, 1930

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SIX BANKS CLOSE TEMPORARILY IN NORTH CAROLINA Five Institutions Follow Central Bank & Trust Company's Action LIBERTY INVENTORY State Had $354,707.54 in Nashville Concern in Receivership NOV Central Bank Trust company, largest financial Institution in tion, failed to open for business today and by noon other western North Carolina had closed their doors. Capitalized at $1,000,000, Central Bank Trust company on September had deposits of 000,000. Its was given as Other banks closing were the Biltbank, Asheville, including its branch the Oteen veterans' the First Bank Trust company of Hendersonville, the American Bank Trust company of Hendersonville, the Citizens National bank of Hendersonville, and the Bank of Lowell, of Lowell, out by the board directors of the Central Bank Trust company said the bank was closed in anticipation of heavy run. The closing of the three banks at Hendersonville left that city of approximately residents without banking facilities. State Had Funds in Liberty NOV. An inventory of the Liberty Bank Trust company which went into chancery court today and showed deposits the state Tennessee totalling State deposits this and two other closed banks have been Attorney General Smith Four Others Close C., Four banks in western North Carolina, including the Central Bank Trust Asheville with deposits

4. November 20, 1930 The Evening Sun Baltimore, MD

Article from The Evening Sun, November 20, 1930

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CAROLINA BANKS FAIL Three More Close In Kentucky. President Of One Institution Hangs Self [By the Associated Press] Asheville, N. Nov. CenBank and Trust Company, largest financial institution in this immediate section, failed to open for business today and by noon five other western North Carolina banks had closed their doors. Capitalized at CenBank Trust Company on September 24, the date of the last bank call, had deposits of approximately $18,000,000. Its resources were given at that time as $21,753,000. Other Banks Close Other banks closing were the BiltBank here, including its branch at Oteen Veterans' Hospital the First Bank and Trust Company, Hendersonville: the American Bank and Trust Company, Hendersonville the Citizens National Bank, Hendersonville, and the Bank of Lowell, John Mitchell. State Bank Examiner, notified of the Central Bank and Trust Company's failure to open and expected to send an examiner here immediately to take charge of Heavy Run Anticipated A statement given out by the board directors said the bank was closed anticipation of heavy run. [By the "This action." the statement said, taken solely to conserve the in- New Nov. 20-Dr. Abraham terests of the depositors and only after Flexner, director of the Institute became apparent that such step Advanced Study in Newark, wise. During past few days the book criticizes American univerbank has been forced withstand sities for teaching "rubbish." heavy withdrawals of funds.' notice posted on the door of the In American, First Bank and Trust Company, Hen- lish and German." published the said the Oxford University Press, he declares been placed in the bands of the State sort of easy rubbish which may Banking Department for liquidation. counted toward an degree capitalized $150,000, had passes the limits of credibility." [Continued On Page Institutions, he adds, "have

5. November 20, 1930 Fort Worth Star-Telegram Fort Worth, TX

Article from Fort Worth Star-Telegram, November 20, 1930

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6 North Carolina Banks Close Doors ASHEVILLE, N. C., Nov. The Central Bank and Trust Company, largest financial institution in this immediate section, failed to open for business Thursday and by noon five other Western North Carolina banks had closed Capitalized at $1,000,000, the Central Bank and Trust Company on Sept. 24. the date of the last bank call. had of Other banks were the Biltmore Bank here including its branch at Oteen Veterans Hospital: the First Bank and Trust Company, Hendersonville the American Bank and Trust Company, Hendersonville the Citizens National Bank, Hendersonville, and the Bank of Lowell, N. John Mitchell, state bank examiner, was notified of the Bank and Trust Company failure to open and was expected to send an examiner here immediately to take charge of it. statement given out by the board of directors said the bank was closed in anticipation of heavy run. The closing of the three banks at Hendersonville left that city of approximately 8,000 residents without banking facilities. Other banks in Asheville said Thursday that they had experienced some withdrawals, but were in condition to meet any demands their depositors might make of them.

6. November 20, 1930 The Durham Sun Durham, NC

Article from The Durham Sun, November 20, 1930

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SIX WESTERN NORTH CAROLINA BANKS CLOSE (Continued from Page One) state banking for liquida"This action taken solely conserve the the depositors after ap. parent that wise During the past few days bank has heavy withdrawals Blame General "The board appreciates the valiant enegetic taken the offices bank the aim preventing this development But their efforts were not sufficient to overcome the situation which nain The business uncertainty prevailing the country made their superhumanly difficult. "It the sincere hope of the board due all deposits will Wallace Davis leader, president of the He was ported this but could not Brown chairman the refused the statement given by the Purely Local Situation Nov The primary the closing of the Central and Carolina today named by John Mitchell, examiner the collapse real estate in the section inflated In the statement issued here he department feels that should the he Bank and Trust com "Immediately preceding the the Florida real large number of high-powered real estate their tivities from Florida largely Asheville HendersonThe result of their activities highly inflated plane of estate values "The collapse in real estate well values made possible the banks to date in sufficient ume demands of depositers "This situation purely does way reflect one conditions in the state generally should no ing the solvency other within the of September the call report of Carolina banks held cash reserve five million dollars and second ary reserve consisting of marketable securities in the amount thirty five dollars. is illus trative of the strength of the state's institutions Without Banks The closing of the three Hendersonville left that city ap proximately 000 residents without banking Banks Strong Other Asheville said they had dition demands depositors notice the Bank and the institution been placed the state department for dation was capitalized $150 surplus $204,261 deposits 628 according its last statement condition Heavy runs early in the morning on the American and Trust company and the Citizens tional bank Hendersonville and they closed American Bank and Trust smallest the three banks had deposits the Citizens National capitalized at had surplus and deposits $1,077,397 The Bank Biltmore Oteen was capitalized $50,000 $25,000 profits and its office Biltmore and Branch The of Lowell in had deposits of $70,000 the time was capitalized the Lowell bank said Its closing had no with shrunken deposits result fail yarn mills to run full time of late. Other Causes at Lowell LOWELL Bank state institution failed its today The capital $20,000 and the last statement showed de posits of less than $70,000 Coit Robinson president and cashier Officials the Lowell blamed the closing shrinkage due the fact that Lowell mills have not run full time for the past They said had connection with banks that closed today. nor with any Oastonia

7. November 20, 1930 The Buffalo Times Buffalo, NY

Article from The Buffalo Times, November 20, 1930

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Three Hendersonville, N. C., Banks Closed by Runs HENDERSONVILLE Press N. C., Nov. 20. -Three Hendersonville banks with aggregate deposits of more than $2,000,000 closed during runs today. They were: The First Bank and Trust company, deposits $813,338; the Citizens National Bank, deposits, $1,077,397; the American Bank and Trust compan deposits $55,012. Officials of the Citizens National. and American Bank and Trust announced the institutions were solvent and would re-open.

8. November 20, 1930 Burlington Daily Times Burlington, NC

Article from Burlington Daily Times, November 20, 1930

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The Central Bank & Trust At Asheville, With Deposits of Was the Largest of Group ANNOUNCED BY BANK Three Banks At Hendersonville and the Bank Also Fail to Open Doors. Central Bank and Trust company. the largest institution in this immediate failed to and by other closed the Bank and Trus company September date of the and deposits approxmately $18,000,000 Its resources given at that time banks closing were the more-Ost bank here. including branch Osteen vetrans pital: the First Bank and Trust company. Bank and Trust Citizens NationBank Hendersonville. and the Bank Lowell John Mitchell state bank examnotified Central Bank and Trust company's failure open expected send an examiner here immediately to take charge of statement given out by the board of said the bank closed in anticipation of a heavy action," the statement said: taken solely conserve the of he depositors and only after apparent that such step was During the past few days the bank has been forced withstand heavy withdrawals of Wallace R. Davis. civic leader. president the He was ported his home this morning. could not reached Brown. chairman of the board of directors. refused amplify the statement given out by the direct- notice posted the door of on First Bank and Trust Company. said the institution had been placed in the hands of the State Banking Department for was capitalized Had surplus 261 and deposits of cording its last statement of Heavy runs developed early the on the Bank and Trust company and CitiNational Bank Hendersonand they closed. The American Bank and Trust three The National had of Bank at and had undivided profits office and branch Oteen The Gaston county had deposits the statement $20,000 closing connection persions today. failure Yarr. Mills to full banks that of experience by

9. November 20, 1930 The World-News Roanoke, VA

Article from The World-News, November 20, 1930

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BANKS IN SIX NORTH CAROLINA CLOSE DOORS terests the depositors and only after that the past days During forced withstand the bank been withdrawals of funds heavy door of notice posted First Trust the institution the of the had for liquidaIt capitalized and deposits to its last statedeveloped in the Heavy runs American and on the Citizens Trust and tional Bank they and Trust ComThe smallest the banks, $160.had deposits The National capitalized 000 had surplus of $150,000 deposits Lowell Gaston the Whether failure today was with the other not be learned. The closing of the three banks at Hendersonville left city apresidents without proximately Asheville said this Other had experienced withdrawals. but were in condition meet demands might make them.

10. November 20, 1930 The Atlanta Journal Atlanta, GA

Article from The Atlanta Journal, November 20, 1930

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Six North Carolina Banks Close Doors To Conserve Assets ASHEVILLE N C., Nov. 20.-(P)The Central Bank and Trust Company largest financial institution in this immediate section failed to open for business Thursday and by noon five other western North Carolina banks had closed their doors Capitalized at 1,000,000. the Central Bank & Trust Company on September 24 the date of the last bank call had Its were given at that time $21,753,000 Other banks closing were the BiltOteen Bank here, including its branch at Oteen Veterans Hospital the First Bank & Trust Company the American Bank & Trust Company Hendersonvill the Citizens National Bank Hender sonville and the Bank of Lowell, John Mitchell, state bank examiner was notified of the Central Bank & Company's failure to open and was expected to send an examiner here immediately to take charge of A statement given out by the board of directors said the bank was closed in anticipation of a heavy run A notice posted on the door of the First Bank & Trust Company Hendersonville said the institution had been placed in the hands of the State Banking Department for liquidation of $204.261 and deposits according to its last stateof condition The American Bank & Trust Comsmallest three banks had deposits approxmiately $160. 000 The Citizens National capitalat $100,000 had surplus of deposits $70 000 at the last It was at MITCHELL BLAMES COLLAPSE OF BOOM IN REAL ESTATE RALEIGH N C. Nov. the closing of The primary the Central Bank and Company North Mitchell state bank exam the estate the section from a highly In statement issued here he said the of boom. -powered their largely in Asheville ville inflated was real The impossible for failed banks to liquidate their receivables sufficient volume to meet demands of depositors situation is purely local one does not in any reflect in the generally and should no Bankers Trust Closes 20 The Trust Company capitalized at $500 Thursday after the Central Bank of the Bank Canezville suspended The BankTrust brought thirteen the number banks which have suspendKentucky Monday six of them are in Louisville 62 Closed: One Reopens LITTLE ROCK Ark banks in Arkansas was reported to the State Banking Department Thursday bringing the week to The Bank at Heber Springs suspended Thursday Those Tuesday suspending Thursday the Bank of Ozan at Ozan the Bank of Strawberry both for five and two banks Bald Knob State Bank and

11. November 21, 1930 The Oregonian Portland, OR

Article from The Oregonian, November 21, 1930

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SIX MORE BANKS CLOSE FIVE NORTH CAROLINA INSTITUTIONS FAIL. Several Suspend Because of Runs; Hannibal, Mo., House Also in Hands of State Officials. ASHEVILLE N. C., Nov. 20.-(AP) -The Central Bank and Trust company, Asheville's largest financial institution, failed to open for business today. A notice posted on the door advised the public that the bank was closed on order of the board of directors for the of assets The bank's last statement of condition showed more than $18,000,000 on as deposit. The Biltmore-Oteen bank also closed. The Central bank was capitalized at $1,000,000 and its last statement of condition issued September 24, gave its surplus as $1,000,000. HENDERSONVILLE. N. C., Nov. 20.-(AP)-Three Hendersonville banks closed their doors today, leaving this city without banking facilities. The First Bank and Trust company failed to open at the regular hour It had notice on the door which said the institution had been placed in the hands of the state banking department for liquidation. Runs developed on the American Bank and Trust company and the Citizens National and they soon closed. JEFFERSON CITY, Mo., Nov. 20.Hannibal Trust company, Hannibal Mo. with total resources of $1,523,720. was closed today by its board of directors, the state finance department announced. Heavy withdrawals as result of the recent bank closings in Quincy, III., across the river from Hannibal, was given the cause. The bank according to the last statement filed here, had deposits of $1,124,814 loans of $1,002,537 and capital stock of $200,000

12. November 21, 1930 The Herald-Mail Hagerstown, MD

Article from The Herald-Mail, November 21, 1930

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BANKS WESTERN NORTH CAROLINA CLOSE Real Estate Boom Blame for Failure of Institutions Asheville, N. C., Nov. 20, With the real estate boom of a few years ago held responsible by the State Banking Department, the Central Bank and Trust Company here failed today, causing four other banks in western North Carolina to close their doors, and tying up towal deposits of more than $22,000,000. The Bank of Lowell, at Lowell, Gaston county, also closed today, but its closing was said to have no connection with the western North Carolina situation. Whether any of the banks would reopen was in doubt tonight. The Central Bank and Trust Company alone had deposits of more than $18,000,000 at the time of its last statement of condition on September 24. The other banks closing were: The Bank in Biltmore. Asheville suburb, with deposits of $615,051; the First Bank and Trust Company, Hendersonville, deposits, $1,207,628; the Citizens National Bank, Hendersonville, deposits, $1,077,397. and the American Bank and Trust Company, Hendersonville, deposits, $111,638. Four Banks Close Louisville, Ky., Nov. 20, (A).Two Louisville banks were closed today and two just across the Ohio river at New Albany, Ind., as a result of financial' difficulties following Monday's closing of the $54,000,000 National Bank of Kentucky. As the total of Kentucky banks closed was brought to twelve, plus the two New Albany banks, nine building and loan associations in Louisville took advantage of the law permitting them to require 30 days' notice for withdrawals. This was announced as purely precautionary measure nad the institutions were described as in good condition. The banks closing today were the Liberty State Bank, deposits. $286.000, and the American Bank and Trust Company, deposits. $2,430,000. both of New Albany. and two in Louisville, the Bankers Trust Company, deposits. $965,000, and the Union Central, deposits. $500.000. The two New Albany banks had no connection with any Louisville bank. Suspension Report Little Rock, Ark., Nov. 20, Suspension of four more banks in Arkansas was reported to the State Banking Department today, bringing the total this week to 62.

13. November 22, 1930 News and Record Greensboro, NC

Article from News and Record, November 22, 1930

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Hysteria Is Given As Cause Of Failure of Eight Banks John Mitchell, Chief Bank Examiner, Says Conditions, Causing Closing of Other Three Were Purely Local-Schools to Continue. of eight of the 11 banking institutions that have closed since the Central Bank and Trust company did not open its doors Thursday, was due to hysteria, John Mitchell, chief state bank examiner said tonight after careful survey of the situation in western North Carolina today. The which brought about the failure of the three is purely local and was the result of in the wake of deflated real estate values. coupled with the general business current throughout the country, he said. Both city and county arrangements to meet all payrolls and interest on notes due December 1, and the decision of the operation of city and county schools is being left open. Meanwhile the schools will carry on it is believed that arrangements the of all educational work will be made. City and county officials have announced that while strictest economy will be maintained. there will be no cutting off of employes or salary slashes for the immediate present. The National bank in Asheville, which yesterday, did not open its banks in Waynesville, City closed. Other financial institutions in Asheville received support today the that deposits exceeded in almost every instance The state bank officials arrived today ferred with D. M. Darden and B. R. Roberts, examiners, who the group went to City and Hayesville to take charge of institutions in that which had closed result of withdrawals. Two others Flat Rock to check up the closed that group while others visited the Bank of Leicester. BUSINESS AT HENDERSONVILLE IS VIRTUALLY AT STANDSTILL Nov., was at standstill here as the city of Henof ing facilities, but civic leaders expressed that the community's will be worked out within short time All three of the banks in Henderclosed yesterday morning. The First Bank and Trust company closed yesterday morning at the hour. The American and Trust company opened for minutes closed to protect depositors. The Citizens National bank was open until o'clock when run became eminent its doors were E. W. Ewbank, president of the Citizens National bank today said that the was in hand in the machinery was under way to provide relief from the that has quieted "I'm not position yet to give out Mr. Ewbank said, can say that machinery is on here our While was little business achere were optimistic and there was no hysteria or undue excitement. CUNNINGHAM NAMED RECEIVER FOR AMERICAN NATIONAL BANK Nov. today appointed receiver for the National bank Comptroller the Currency He will Mr. Cunningham with the comptroller's office. THREE BANKS CLOSE at THEIR DOORS IN TENNESSEE. for Nov. Three banks Tennessee failed bringing to seven the banks withfew as the while First State Bank Trust pany, at whose last resources of than The Peoples' of Lenoir with resources 000, and Bank Trust company, Nashville, were other banks to

14. February 6, 1931 Asheville Citizen-Times Asheville, NC

Article from Asheville Citizen-Times, February 6, 1931

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Hendersonville Club Hears Bank Receiver (Special To The Citizen) Dakin, receiver for the Citizens' National was the speaker the meeting the Kiwanis club today Mr. Dakin advocated less agitation conditions growing of bank closings. and of the general The less offer the the munity will Mr. Dakin said

15. September 5, 1931 Asheville Citizen-Times Asheville, NC

Article from Asheville Citizen-Times, September 5, 1931

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RECEIVER SUED ON COLLATERAL Henderson County Asks Possession Of Notes For $55,000 Sept (SpeCitizens National Bank dersonville made the defendant in filed Friday by M. attorney for derson county. which the county seeking of proximately notes mortgages which the county name collateral for $100,000 obtained by county through the sale anticlpation The money deposin the bank few days before closed doors November 20 last The complaint alleges that for some years closed the was county that was several times called on to place indemnity and notes and mortgages collateral. Sold $100,000 Note The complaint states that the of October note and the the money the contract with active president the whereby the bank was to put up from to collateral security for the money and insure the Please Turn To Page Two)

16. September 5, 1931 The Charlotte Observer Charlotte, NC

Article from The Charlotte Observer, September 5, 1931

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BANK AFFAIRS TO BE PROBED Attorney Will Confer With Hood on Henderson County Situation. Sept. Monroe Redden, prominent western North Carolina attorney left Hendersonville today for Raleigh. where he expects to have conferences In regard to the investigation of the affairs of the four closed state banks of Flat Rock and Saluda. He expects to go into the matter with the banking commission while there and also to have conference with W. Pless, superior court solicitor of this district. The matter of an investigation was taken the Henderson county depositors league with Governor O. Max Gardner several days ago and he has pledged full operation in the investigation of the banks. Mr. Redden said that after these conferences he will be ready make known just what action is to be taken. Mr. Redden is attorney for Henderson county and represents the banking commission in this sec. tion. SUIT FILED. Before leaving for Raleigh, Mr Redden filed sult for Henderson county J. Cunningham. receiver of Citizens National bank of Hendersonville which also closed its doors at same time that the four state banks were closed last November. The suit which brought to recover collateral held bank, filed with clerk of superior here today The complaint states that during the month of October, 1930. the anticipation for Prior the receipt of funds from the note, the complaint sets forth, the commissioners an agreement with the bank active vice E. Brooks, wherein was agreed that the bank would the plaintiff between $50 000 and $55,000 in notes and mortgages as collateral to protect said deposit. and to guarantee the faithful of said funds the bank as co-treasurer of the county. According to the agreement, the complaint the county posited money in the bank and acting for the bank, placed the collateral with the plaintiff secure the deposit further stated that the collateral left with the bank for safe keeping. and was labeled and kept separate from the assets of the bank, and was in the custody of the bank when closed on November 20. and that is now in the possession of the bank

17. September 5, 1931 The News and Observer Raleigh, NC

Article from The News and Observer, September 5, 1931

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Attorney Due Hendersonville Today To Consult Here State Commission Sept. Mon left Redden, prominent Hendersonville today for Raleigh, have confer where he expects ences regard the investigation the affairs the four closed State Flat Rock Saluda, all in Henderson He the county. expects matter Commis while there to conference Pless, Court solicitor of this perior The matter investigation by the Henderson County taken up League Governor Depositors Gardner several ago and he pledged full in the these four closed vestigation attorney for the Mr. Redden county Henderson also represents Banking Commission this section. He thoroughly failure condi tions, and the reputa has in his profes the of the League that the investigation will completed. After Raleigh and the reviewed by Mr. matter has Redden Pless announced what the be called on to give these investigations. Before leaving for Raleigh, Mr. Redden filed attorney for Henderson county against Cun ningham, receiver Citizens National Bank Hendersonville, which closed its doors the same time that four State banks closed November. The complaint states during month October, the missioners sold revenue anticipation note for Prior to the receipt funds from the note, the complaint forth, commissioners entered into an agreement the wherein agreed that the bank would 000 and $55,000 in and mortgages said deposit, and the faith funds by the the According the agreement, the the county deposthe money the bank, and the bank, placed the collateral the plaintiff secure deposit. further stated collateral left bank for keeping, labeled and kept separate from the assets the bank, was the custody of the bank when closed on 20, and that the possession of the bank receiver. The further states that more $55,000 deposit when bank closed: divi. dends have been paid by the bank, informed that the was solvent, tainty dividends the bank the plainable to collect the collateral will the amount which the plaintiff deposit the fund the time the bank liquidation. The sets forth the plaintiff made on the the bank for the the that the demand been refused, and, the plaintiff and believes, the receiver has distributed said collateral among the assets the bank, collect and apply the proceeds payments general and special creditors the bank. The complaint alleges that the receiver refusing to deliver the collateral the county direct violation the contract between county the bank, and constitutes breach of the tract.

18. January 11, 1932 The Asheville Times Asheville, NC

Article from The Asheville Times, January 11, 1932

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Rendleman Is Receiver For Bank In City D. Rendleman. of Salisbary, who has been for the Citizens National September the 21, has taken charge liquidation the National bank here. Mr. Rendleman succeeds J. B. Cunningham. who has charge the affairs of the American National since closed in November 1930. Mr. Cunningham has gone to take charge the the Con. tinental want the people of this munity realize that we can liquidate this bank only as fast as those people who the bank money pay Mr. Rendleman depositors cannot get their until those who bank, pay up. all in neighowes The can this cleared the better off community will remain charge of the liquidation the Citi. zens National bank in Hendersonville in addition charge of the American National bank, as receiver.

19. February 15, 1935 The Times-News Hendersonville, NC

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JUDGMENT FOR $26,000 GIVEN THIS COUNTY Federal Suit Is Outgrowth Of Action After Bank Closings Henderson county has been awarded a judgment in the amount of approximately $26,000 against Hilliard Atkins, receiver of the Citizens National bank, M. M. Redden, county attorney, announced today. The suit was brought in federal court and referred to J. Y. Jordan. Jr., standing master of the federal court, for the finding of the facts and law. Mr. Jordan has rendered a decision favoring the county. The defendant in the case was allowed 20 days to perfect an appeal. The suit grew out of a check drawn by the county on the First Bank & Trust Co., and placed in the Citizens bank. The check was not collected before the bank closed and was charged back to the county account. After the banks closed the receiver for the Citizens bank collected about 80 per cent of the amount of the check from the First Bank, Mr. Redden said.

20. August 11, 1936 The Times-News Hendersonville, NC

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CLOSED CITIZEN'S NATIONAL BANK REALTY ASSETS WILL BE SOLD HERE AUGUST 25TH Special Liquidator Announces Auction; Bank SYMPHONY TO Bldg. on Block All real estate owned by the PLAY TONIGHT Citizens National Bank, now in liquidation, will be sold here at DeNardo Making His First public auction on Tuesday, Aug. 25, at 10 a. m., according to Britt Appearance Here as Davis, special liquidator of real Director estate for the comptroller of the currency. A similar sale of realty assets The North Carolina Symphony of the closed American National orchestra, under the direction of bank of Asheville, will be held at Joseph DeNardo, will make its Asheville the following day. Hilfirst appearance this summer in liard B. Atkins is receiver for the Hendersonville at the high school two institutions. auditorium tonight at 8 o'clock. Included in the sale to be conThe concert is the first of a seducted here is the Citizens Bank ries of musical programs, sponbuilding as well as dwellings, othsored by the Chamber of Comer business properties, farms and merce. In addition, the concert building lots. Every piece of will mark the first appearance of property will absolutely be sold Mr. DeNardo here as conductor of to the lowest bidder on the day the orchestra. of the sale, it was said. The concert will feature, in adPrincipal interest centers in the dition to Schubert's "Unfinished sale of the bank building, a handsome stone structure at Main Symphony," the ever popular street and Fourth avenue. Repre"American Bolero," by Brown; senting an investment of upwards the "Mississippi Suite," by Grofe, of $100,000 the building's projectand "Finlandia," by Sibelius. ed sale has elicited much speculaThese numbers have been popular tion on the amount it will bring at in Hendersonville audiences in public outcry. Sale of all the previous concerts by the orchesproperties will take place at the tra. Other numbers on the probank building, and a large crowd gram will include Glinka's "Rusis expected to attend. sian and Ludmilla," giving someThe auction method of disposthing of the spirit of Russian folk ing of realty holdings of closed music; and "La Media Noche," by national banks was adopted after Stoessel, which is a suite a four efforts to dispose of the properSpanish dances. ties by other means had proved The "American Bolero" preunsuccesful, it was said. The sents musical culture of America, comptroller of the currency finalinfluenced as it is by the music of ly selected Mr. Davis, a Tennessee all nations-the barbaric beat of realtor and auctioneer, for the drums, the broad melodic strain job, and with a sound truck and of the Latins, Oriental dissonants, other equipment, as well as a the lilting sweep of Viennese staff of assistants, he has been strings and the rhythm of Bolero going about the country conductcastanets. ing these sales. Suite" depicts.

21. October 25, 1938 The Times-News Hendersonville, NC

Article from The Times-News, October 25, 1938

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S K. Dotson, $5.80; 1 house and 2 lots Ashe St., Book 198, page 190. E. B. Drake and wife, Mrs. E. B. Drake, L. B. Whitaker and wife, Mrs. L. B. Whitaker, Elsie M. Ray, Exrx. of McD. Ray, trus- tee, Effie M. Vassey, $19.00; 1 house and lot Third Ave. West and Oak St., Book 156, page 94. Bruce Drysdale and wife, Mrs. Bruce Drysdale, Geo. F. Wing and wife, Mrs. Geo. F. Wing, Edw. R. Sutherland and wife, Mrs. Edw. R. Sutherland, F. V. Hunter, mortgagee, I. T. Goodloe, mort- gagee, J. W. Winborn, J. W. Pless, Mrs. Estelle Quattlebaum, Admrx. of J. L. Egerton, Mrs. J. L. Eger- ton, Gurney P. Hood, Commr. of Banks, $43.30; 1 lot Seventh Ave. East, Bock 157, page 150. John F. Durham and wife, Mrs. John F. Durham, $19.00; 2 lots Temple Terrace, Book 144, page 162. H. F. Duvall and wife, Mrs. H. F. Duvall, $26.20; 1 lot Fleming St., 2 lots Fassifern Court, Book 158, page 275. Mrs. Iona H. English, $7.00; 1 lot 1st Ave. West. J. A. Floyd and wife, Mrs. J. A. Floyd, $34.60; 2 lots Hebron St., Book 195, page 255; 1 house and lot Forrest Hills, Book 191, page 291. Bertha Foster and husband, Ben Foster, E. R. Sutherland, trustee, Daisy I. Lovejoy, Aiken Mortgage and Realty co., $13.80; 1 lot Blythe St., Book 110, page 177. Mrs. C. Few, Sr., individually and executrix, Mrs. Jennie Few Ewbank, individually, executrix, and trustee, and husband, H. H. Ewbank, individually, trustee and guardian of Ben Few; Ben Few and Fred Few, Rosa Few Schenck, individually and trustee, and hus- band, Michael Schenck, C. Few, Jr., individually and trustee, and wife, Mrs. C. Few, Mary Few Klutz and husband, Keith Klutz, Neil Few Woodward, and hus- band, C. D. Woodward, Gurney P. Hood, Commr. of Banks, Mrs. Ben Few, $115.00; 1 lot Fourth Ave. West, Book 23, page 299. Farmanda Garabedian, $4.60; 1 lot Toms Hill, Plat Book 1, page 119. W. A. Garland, Sr., Mrs. Claude G. Keith and husband, C. G. Keith, W. A. Garland, Jr., and wife, Mrs. W. A. Garland, Jr., $58.81; 4 lots Hyman Heights, Book 164, page 247; 1 lot Sixth Ave. East, 1 lot Hyman Heights. Mrs. Hattie I. Geddings, W. B. Penney, trustee, L. E. Johnson, $7.00; 1 lot Alamance St., Book 144, page 57. Mrs. Emma T. Gentry and hus- band, — Gentry, $10.60; 1 lot Locust St., Book 115, page 163. John Gibson and wife, Mrs. John Gibson, $13.00; 2 lots Taylor St., except lots 14 and 21 as per Plat Book 2, page 3; Deed Book 157, page 64. Mattie Goodspeed and husband, S. R. Goodspeed, Will J. Bell, trustee, E. W. Goodspeed, $4.60; 1 lot Allen St., Book 106, page 60. Deeds of Trust. Mrs. A. M. Gover, $123.00; 1 lot King St., Book 165, page 220; 1 lot Fourth Ave. West, Book 164, page 257; 1 lot S. Main Street, Book 181, page 72. Grace Security Corporation, J. L. Taylor, Jr., Trustee; John A. Cutchens, trustee; Mary Wilson Shock, $103.00; 1 house and lot Second Ave. and Church. R. C. Granberry and wife, Mrs. R. C. Granberry, $25.00; 1 lot 6th Ave. and Buncombe St., Book 172, page 489. Mrs. A. M. Gover, James L. Taylor, Jr., Tr., Sada W. Smith, Admrx. of W. A. Smith, $28.40; 1 lot Main St., Book 181, page 72; 1 lot King St., Book 165, page 220. Louis C. Hagerman and wife, Mrs. Louis C. Hagerman, $91.00; 25 lots Felix Lake Subdiv., Book 187, page 38. Rose Harkins and Jean S. Har- kins, $10.01; 1 lot Locust Street, Book 145, page 24. S. J. Harris, J. V. Bowers, trustee; Jessie M. Childs, Geo. P. Street, $10.60; 1 lot King and Barnwell Sts., Book 144, page 167. J. L. Harrison and wife, Mrs. J. L. Harrison, $3.40; 3 lots Third Ave. West. A. H. Hawkins and wife, Mrs. A. H. Hawkins, Geo. P. Street, H. B. Atkins, receiver, Citizens National Bank, Gurney P. Hood, Commr. of Banks, $9.60; 1 lot Justice St., Book 135, page 152. A. H. Hawkins and wife, Mrs. A. H. Hawkins, A. D. Brown and wife, Mrs. A. D. Brown, Wiltshire Griffith and wife, Mrs. Wiltshire Griffith, Geo. P. Street, Gurney P. Hood, Commr. of Banks, $22.01; 1 lot corner 5th Avenue West and Ehringhaus St. C. H. Haynes and wife, Mrs. C. H. Haynes, $71.40; 1 house and lot North Main St., store build- ing, Book 209, page 216, 2 lots Hebron St., and Spring, Book 203, page 136; 1 house and lot Oak St., 2 1-2 acres. H. E. Haywood and wife, Mrs. H. E. Haywood, $140.20; 1 lot Main St., corner Caswell. Mrs. Maude M. Hinnant, and husband, — Hinnant, $13.00; 1 lot Locust St., Book 130, page 532.