Article Text
BANK CLOSES Hornell, N. May Citizens National Bank and Trust company of Hornell failed to open its doors today after run on the Saturday The bank's last statement said it had resources $3,003,546.34 and total deposits of $2,211,006
15144. Citizens National Bank & Trust Company (Hornell, NY)
Bank Information
- Episode Type
- Run → Suspension → Closure
- Bank Type
- national
- Bank ID
- 2522
- Charter Number
- 2522
- Start Date
- April 30, 1932
- Location
- Hornell, New York (42.328, -77.661)
Metadata
- Model
- gpt-5-mini
- Short Digest
0e6d60b1
Response Measures
Full suspension
Other: No additional remedial measures reported in the articles; bank simply failed to open after a Saturday run.
Receivership Details
- Depositor recovery rate
- 69.0%
- Date receivership started
- 1932-05-10
- Date receivership terminated
- 1941-06-13
- Share of assets assessed as good
- 26.1%
- Share of assets assessed as doubtful
- 64.2%
- Share of assets assessed as worthless
- 9.8%
Description
Contemporary articles report a run on the bank on the prior Saturday and that the bank failed to open its doors on May 2, 1932. No information on a subsequent reopening or appointment of a receiver is provided in the clippings; I classify this as a run that produced a suspension that appears to be permanent (closure). Cause of the run is not specified in the articles.
Events (4)
1.
May 6, 1881
Chartered
- Source
- historical_nic
2.
April 30, 1932
Run
- Cause Details
- Article reports a run occurred but gives no reason or trigger for withdrawals.
- Newspaper Excerpt
- the bank failed to open its doors today after run on the Saturday
- Source
- newspapers
3.
May 2, 1932
Suspension
- Cause Details
- Bank did not open following the run; article describes failure to open (suspension/closure) but gives no government action or voluntary liquidation details.
- Newspaper Excerpt
- Citizens National Bank and Trust company of Hornell failed to open its doors today
- Source
- newspapers
4.
May 10, 1932
Receivership
- Source
- historical_nic
Newspaper Articles (2)
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Article Text
HERE AND THERE IN NEW YORK STATE Clipped from our Exchanges Current licenses for automobile operators and chauffeurs will expire on May 31, and those who drive legally after that date must be provided with 1932-1933 licenses. Robert Hamilton Persons of East Aurora, a life insurance agent, has filed a petition in bankruptcy with liabilities of $104,539.58 and assets of $32,936.74. Col. T. B. Crocker, formerly of Sardinia, N. Y., but for several years a resident of St. Cloud, Florida, is reported to be very ill. Principal Molyneaux, who has been principal of Sardinia High School during the past two years, has accepted a position as vice-principal of West Seneca High School: Buffalo, May 3.-Harry J. Brown, 35 years old, of Niagara Falls, Ont., yesterday was fined $1,000 by Judge John Knight in federal court and was sentenced to nine months in the Erie County Penitentiary after he pleaded guilty to mailing lottery tickets. Section 473 of the postal laws and regulations forbids sending through the mails any written or printed matter concerning any lottery or drawing dependent in the whole or in part upon lot or chance. The Citizens National Bank and Trust Company of Hornell failed to open its doors recently after a Saturday run on the bank. With the recent arrival of 26 convicts from Sing Sing prison, Auburn prison's population reached a new record total of 1,934. The Public Service has granted permission for the Pennsylvania railroad to discontinue two passenger trains between Olean and Rochester. Mixed passenger and freight trains, running on a different schedule, will replace them. The Rocky Crest Sanatorium staff, Rock City, will be at home to friends on Sunday, May 15, from 2 to 5 and 7 to 8 p. m. An opportunity will be given visiting friends to see the external improvements at the sanatorjum as well as the various departments of the institution itself. Refreshments will be served. The Department of Agriculture and Markets is ready to turn over $375,000 in county fair allotments to various counties in the state. Seven white-tailed deer in one herd crossed upper State Park Avenue in Salamanca recently, making a pretty spectacle as they skimmed over the fence. With thirty-cent potatoes, New York state potato growers can pay eighty cents a bushel for certified seed and make $16.20 an acre, according to nine years' figures from fourteen counties. The leaf surface, terminal growth, set of fruit, and the set of fruit buds for next year will have been made or determined by July. If cultivation is to aid these developments it must be done early.