13497. Citizens Bank (Plattsmouth, NE)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 10, 1894
Location
Plattsmouth, Nebraska (41.011, -95.882)

Metadata

Model
gpt-5-mini
Short Digest
8a8e3cef

Response Measures

None

Description

Multiple contemporary newspapers report the Citizens' Bank of Plattsmouth failed to open on Sept. 10, 1894 and stockholders petitioned for closure; a receiver (Charles C. Parmelee/Parmele) was appointed the same day. Cause is stated as inability to realize on securities (bank-specific adverse assets). Later (1896) reporting describes liquidation activity. No run or depositor panic is described in the articles.

Events (2)

1. September 10, 1894 Receivership
Newspaper Excerpt
the stockholders of the bank went before Judge Chapman and asked that the bank be closed and that Charles C. Parmalee be appointed receiver. The judge issued the order.
Source
newspapers
2. September 10, 1894 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Failure to open due to inability to realize on securities; assets slow and difficult of collection
Newspaper Excerpt
The Citizens' bank failed to open its doors today. An hour later the stockholders of the bank went before Judge Chapman and asked that the bank be closed...
Source
newspapers

Newspaper Articles (9)

Article from The Indianapolis Journal, September 11, 1894

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Article Text

Nebraska Bank Closed. PLATTSMOUTH, Neb., Sept. 10.-The Citizens' Bank failed to open its doors today. An hour later the stockholders of the bank went before Judge Chapman and asked that the bank be closed, and that Charles C. Parmalee be appointed receiver. The Judge issued the order. The cause of the failure is supposed to be inability to realize on securities. The stocholders are mostly wealthy men. W. H. Cushings, a brother of R. C. Cushings, ex-Mayor of Omaha, was president of the bank. The capital stock was $100,000; liabilities, $92.000; assets, $142,000. The failure involves about $200,000, all well se ared with notes of wealthy farmers, who are merely temporarily embarrassed.


Article from The Salt Lake Herald, September 11, 1894

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Article Text

NEBRASKA BANK CLOSES. Failure Due to Inability to Realize on Securities. Plattsmouth, Neb., Sept. 10.-The Citizens bank failed to open its doors today. An hour later the stockholders of the bank went before Judge Chapman and asked that the bank be closed and that Charles C. Parmalee be appointed receiver. The judge issued the order. The cause of the failure is supposed to be inability to realize on securities. The stockholders are mostly wealthy men. W. H. Cushing, a brother of R. C. Cushing, ex-mayor of Omaha, was president of the bank. The capital stock was $100,000; liabilities, $92,000: assets, $142,000. The failure involves about $200,000, all well secured, with notes of wealthy farmers who are merely temporarily embarrassed.


Article from The Indiana State Sentinel, September 12, 1894

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Article Text

BANK CLOSES ITS DOORS. The Citizens' of Plattsmouth, Neb., Involved for $200,000. PLATTSMOUTH, Neb., Sept. 10.-The Citizens' bank failed to open its doors today. An hour later. the stockholders of the bank went before Judge Chapman and asked that the bank be closed and that Charles C. Parmalee be appointed receiver. The judge issued the order. The cause of the failure is supposed to be inability to realize on securities. The stockholders are mostly wealthy men. W. H. Cushings, a brother of R. C. Cushings, ex-mayor of Omaha, was president of the, bank. The capital stock was $100,000; liabilities, $92,000; assets, $142,000. The failure involves about $200,000, all well secured with notes of wealthy farmers, who are merely temporarily embarrassed.


Article from The Seattle Post-Intelligencer, September 12, 1894

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Article Text

A Nebraska Bank Insolvent. PLATTSMOUTH, Neb., Sept. 10.-The Citizens' bank failed to open its doors today. An hour later stockholders of the bank before Judge Chapman asked that the bank be closed and Charles B. Parmelee appointed receiver. The judge issued the order. The cause of the failure 18 supposed to be inability to realize on securities. The stockholders are mostly wealthy men. W. H. Cushing, a brother of R. C. Cushing, ex-mayor of Omaha, was president of the bank. The capital stock was $100,000, liabilities $92,000, assets $142,000. The failure involves about $200,000, all well secured with notes of wealthy farmers, who are merely temporarily embarrassed.


Article from The Caldwell Tribune, September 15, 1894

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Article Text

BANK FAILURE. The Citizens' Bank of l'lattam uth, Neb., in a Receiver's Hands. PLATTSMOUTH, Neb., Sept. 10.-The Citizens' bank failed to open its doors today. An hour later the stockholders went before Judge Chapman and asked that the bank be closed and that Charles C. Parmalee be appoluted receiver. The judge issued the order. The cause of the failure is supposed to be inability to realize on securitiesThe capital stock was $100,000; liabilities, $92,000; assets, $142,000. The failure involved about $200,000, all well secured with notes of wealthy farmers, who are merely temporarily embarassed.


Article from The Kootenai Herald, September 15, 1894

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Article Text

BANK FAILURE. The Citizens' Bank of Plattsmouth, Neb., in a Receiver's Hands. PLATTSMOUTH, Neb., Sept. 10.-The Citizens' bank failed to open its doors today. An hour later the stockholders went before Judge Chapman and asked that the bank be closed and that Charles C. Parmalee be appointed receiver. The judge issued the order. The cause of the failure is supposed to be inability to realize on securitiesThe capital stock was $100,000; liabilities, $92,000; assets, $142,000. The failure involved about $200,000, all well secured with notes of wealthy farmers, who are merely temporarily embarassed.


Article from Grant County Herald, September 20, 1894

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Article Text

MINOR NEWS ITEMS. For the Week Ending Sept. 11. The entire business portion of Malta, Ill., was wiped out by fire. The Oklahoma county bank at South Enid, O. 'I., closed its doors. Richard Smith, the well-known type founder of Philadelphia, died at Paris Saturday, aged 78. The American Society of Irrigation Engineers at Denver elected James P. Maxwell president. The forty-fourth anniversary of the admission of California to statehood was celebrated at San Jose. William H. Hatch was renominated for congress by the democrats of the First district of Missouri. One-half of the town of Oakview, Tex., the county seat of Live Oak county, was wiped out by fire. By a rear-end collision in the Hoosac tunnel near North Adams, Mass., two men were killed and two injured. W. F. Collner & Co., general store" keepers at St. Petersburg, Pa., were robbed of $70,000 in bonds, notes and cash. Prof. Hermann von Helmoltz, the distinguished German physiologist and scientist, died at Berlin, aged 74 years. Twenty-four receivers of Northern Pacific branch lines have been abolished by agreement, in the interest of economy. W. A. Brady, representing Corbett, signed articles in New York for a fight with Jackson before the Sioux City (la.) club. While he was sleeeping in a Chicago hotel chair thieves despoiled Pugilist Peter Jackson of his watch and chain. Twenty-one laborers were killed in Samara, Russia, by eight farmers, in order tosecure the wages that had been paid them. The Middleton (Pa.) bank, the oldest institution of its kind in Dauphin county, failed on account of depression in business. In a race against time at Indianapolis Directly placed the 2-year-old pacing record at 2:10 a cut of a quar ter second. Eugene Dickson, a St. Louis lad swallowed a green fly while laughing, and died within forty-eight hours in terrible agony. During a thunderstorm in Wichita, Kan., Thomas Herman's house was torn to pieces and his two children killed by lightning. It was reported that the Chinese forces were cornered in northern Corea without supplies and were killing their ponies for food. On the petition of stockholders, a receiver was appointed for the Citizens' bank of Plattsmouth, Neb. Assets are said to exceed liabilities. The Brotherhood of Locomotive Firemen met in biennial convention at Harrisburg, Pa. Attorney General Hensel welcomed the delegates. While fixing the electric lights in the tower of Detroit's city hall F.J. French was made a raving maniac by a shock and was rescued with difficulty. The Ohio state board of agriculture announces that the gross receipts from the state fair were $25,472, an increase over last year of over 20 per cent. Astronomer Louis Garthmann, of Chicago, claims to have discovered vegetation on the moon with the telescope which he recently completed. Thirty-one persons were precipitated into an area by the giving way'of a sidewalk at Nashville, Mich. Several, it is feared, will die from their injuries. Before the kinetoscope in the Edison laboratory at Orange, N. J., Corbett knocked out Peter Courtney in six rounds. He received $5,000 for his efforts. Mary Fisher, 18 years old, of New York, who had been deaf and dumb for eight years. recovered speech and hearing after having been stunned by lightning. In his report on the Northern Pacific investigation Master in Chancery Cary exonerates Receiver Oakes from all charges, but finds Villard guilty of making unlawful gains as director.


Article from The Dickinson Press, September 22, 1894

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General. Seven hundred Catholic Knights of Ohio met convention at Dayton. Miners of Burlington, III., have struck against a cut in wages. Hogan refuses to testify in the Debs trial, and is excused. The Prison Wardens' association is in session at Pittsburg, Pa. George Peckham was nominated for governor by Nevada Populists. The supreme lodge of Knights of Pythias adjourned to meet in Minneapolis the last Tuesday in August, 1896. All the summer hotels at Coney island, N. Y., have been closed for the season. During a cloudburst at Bethlehem, Pa., the water reached second-story windows on four of the streets. The project for a public library for Valparaiso, Ind., has been abandoned for lack of support. Trial of the suit for damages begun by Helen M. Gougar against Congressman Morse was begun at Boston. Members of the Illinois State Dental society of the first district are in session at Peoria. All the Christian churches at Paris, Ill.. have joined in a revival service in a tent accommodating 3,000 persons. The heavy rains of the past week have benefited corn and vegetation generally, according to United States weather bureau reports. Hoo-Hoos elected William E. Barnes of St. Louis grand snark. and selected Mir peapolis as the place for their next meeting. In his annual report Grand Master Sargent condemned the firemen's journal and asked approval of his course in the Pullman strike. Maine is carried by the Republicans by 35,000 to 38,000 out of a total vote ! of 110,000. All the Republican congressmen are re-elected. The Ohio state board of agriculture announces that the gross receipts from the state fair were $25,472, an increase over last year of over 20 per cent. i On the petition of stockholders a re: ceiver WHS appointed for the Citizens' bank of Plattsmouth, Neb. Assets are said to exceed liabilities. I At the annual meeting of the Toledo, Peoria & Western railroad representatives of the Burlington & Pennsylvania 3 were elected directors. The supreme temple of Pythian sisters have changed the name of the orI der to Rathbone sisters. In this way, : it is said, knights will be free to join the order. Lieut. Donovan, Seventeen infant' ry, rode a bicycle from Cheyenne to Omaha, 607 miles in five days, carry, ing the usual equipment of an infantryman. A suit for foreclosure and the appoint. $ pointment of a receiver was begun e again st the Denver Cable company by the Central Trust company of New York. b Mary Fisher, 13 years old, whose home is in New York and who had been deaf and dumb for eight years, recovered speech and hearing after 1 3 having been stunned by lightning.


Article from The Valentine Democrat, August 13, 1896

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Article Text

AIDS A DEFUNCT BANK. Plattsmouth Institution Promised Help from Unexpected Sources. W. H. Cushing, the cashier of the defunct Citizens' Bank, has notified friends in Plattsmouth that he has realized handsomely on some mining investments and that he intends to liquidate the liabilities of the bank and then take full charge of the affairs of the institution. The bank closed its doors September 8, 1894, with liabilities of over $70,000 and assets of equal amount, but of slow and difficult collection. A receiver, Charles C. Parmele, was appointed and the affairs are in process of liquidation, but owing to dissatisfaction among some of the depositors a good deal of litigation has ensued. There are 163 depositors, some of whom have all their savings locked up, and this good news will be a Godsend to them.