14557. Churchill County Bank (Fallon, NV)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
November 7, 1907
Location
Fallon, Nevada (39.474, -118.777)

Metadata

Model
gpt-5-mini
Short Digest
95d79e61

Response Measures

None

Description

The bank suspended in early November 1907 after a large withdrawal by the county treasurer and liquidity problems caused in part by eastern correspondent banks refusing to meet demands for coin/currency. The institution later reopened (Dec 31 announcement, opened Jan 2, 1908) after recapitalization and an agreement with depositors. No bank run is described in the articles.

Events (2)
1. November 7, 1907 Suspension
Cause
Correspondent
Cause Details
County treasurer withdrew $20,000 causing cash shortage; eastern banks were refusing to meet western depositors' demands for coin/currency, producing liquidity problems.
Newspaper Excerpt
The Churchill County Bank at Fallon closed its doors temporarily Wednesday morning after the County Treasurer had withdrawn $20,000 of the county's money from the bank.
Source
newspapers
2. January 2, 1908 Reopening
Newspaper Excerpt
The Churchill County bank opened this morning for the first time since November 7th, under a special agreement with its depositors. The terms of the agreement give the bank one year to meet the demands of those who formerly banked with it ... those who deposit money ... will be paid their money on demand, the percentage payment scheme being only applicable to those who had money in the bank's vaults at the time of suspending business.
Source
newspapers

Newspaper Articles (3)
1. November 11, 1907 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, November 11, 1907

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Article Text

Fallon Bank Is Closed The Churchill County Bank at Fallon closed its doors temporarily Wednesday morning after the County Treasurer had withdrawn $20,000 of the county's money from the bank. The board of directors state that the bank is all right but that they have not the necessary amount of money on hand to continue business with and the institution will remain closed until the necessary coin can be obtained. The people in that section seem to have the utmost confidence in the institution and have stated that they will be wiling to wait for the money until things right themselves. At a meeting of the directors after the suspension of the bank the capital stock of the institution was raised from $100,000 to $250,000 and when the bank opens it wil be run under the new capitalization and will have ample money and backing to continue its business permanently.

2. December 31, 1907 Carson City Daily Appeal Carson City, NV
Article from Carson City Daily Appeal, December 31, 1907

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Article Text

The Churchill County Bank at Fallon will reopen its doors on Thursday next. This is the good news given out by George Turrittin, a director of the bank, yesterday. The bank will open on a more solid footing than ever, and will be open to stay. The Churchill County Bank is looked upon as one of the most solid institutions in the state, and when, owing to the Eastern banks refusing to meet demands of their western depositors for coin or currency, it was obliged to close its doors some weeks ago, it was generally felt that the suspension would be but a matter of a short time. The outcome has verified this feeling.

3. January 2, 1908 Churchill Standard Fallon, NV
Article from Churchill Standard, January 2, 1908

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Article Text

CHURCHILL COUNTY BANK OPENED THURSDAY. The Churchill County bank opened this morning for the first time since November 7th, under a special agreement with its depositors. The terms of the agreement give the bank one year to meet the demands of those who formerly banked with it, and who had accounts on deposit at the time the bank closed its doors. George F. Turritin, Fred Strassburg, Sr., W. W. Williams and W. C. Grimes came down from Reno Wednesday, the two latter gentlemen having gone there a few days previous to arrange bank affairs and confer with Mesers. Turritin and Strassburg. In an interview with Mr. Strassburg, we learn that those who deposit money with the Churchill County Bank beginning with this date, will be paid their money on demand, the per centage payment scheme being only applicable to those who had money in the bank's vaults at the time of suspending business. There will be no change in the personnel of the officers of the Churchill County Bank, Cashier George T. Childa being at the window, with Fred Strassburg, Jr., as assistant cashier.