Citizens Bank (Fredericksburg, TX)

Episode Information

Episode UID
1527373791587
Episode Type
Suspension โ†’ Closure
Bank Type
private
Bank ID
152737379 hash
Start Date
March 11, 1932
Location
Fredericksburg, Texas (30.275, -98.872)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2674ef1d3bfbd39d

Response Measures

None

Description

Receiver appointed and receiver's report published; bank described as defunct/unincorporated.

Events (2)

1. March 11, 1932 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank described as defunct and depositors petitioned for appointment of receivers due to failure/insolvency.
Newspaper Excerpt
depositors of Bank of Fredericksburg and Citizens Bank ask appointment of receivers for the defunct institutions
Source
newspapers
2. December 22, 1932 Receivership
Newspaper Excerpt
I, D. J. Hoerster, Receiver of the Citizens Bank (Unincorporated), do hereby solemnly swear that the above and foregoing statements are correct to the best of my knowledge and belief. D. J. Hoerster.
Source
newspapers

Newspaper Articles (2)

Article Text

Organization Of New Bank Nears Its Completion Over $55,000 Of The Desired $60,000 Has Already Been Subscribed. The Committee having in charge the organization of a new bank in Fredericksburg reports they are receiving hearty co-operation and it is only a question of a few days before a new bank will be opened. They have set a goal of $60,000.00 for a new bank, such bank to be either a State Bank, or a National Bank, which are constantly under the supervision of the government. This will assure the depositors that an outside and unprejudiced governmental agency will watch over the affairs of the Bank. Not only are the public-spirited citizens of Gillespie County subscribing because they know a bank is absolutely essential to the Community, but they are also convinced that a single bank in this town will be a very profitable investment. On Tuesday night the subscribers to the capital and surplus stock of the new bank met at Hotel Nimitz. The meeting was well attended, only a few of the subscribers being absent. Mr. W. J. Schroeder presided at the meeting and Mr. H. A. Ries acted as secretary. Mr. Schroeder explained the object of the meeting and then called upon Mr. Beretta for a talk. Mr. Beretta explained State and National banks. His contention was that both systems were good, but the most important thing about a bank were the men in charge. He advised not to select men to run the bank because they were good fellows and popular, but rather hard-headed business men that would adhere strictly to banking principles; with such men both the depositors and the stockholders money would be safe. Mr. Beretta said his bank stood ready to underwrite any amount for the new bank that the soliciting committee might fail to secure. Mr. Herman Ochs, who had accompanied Mr. Beretta and several other gentlemen from San Antonio, was called upon for a short talk. He responded saying that he did not know anything about the technical (Continued on page 2, Col. 1.) Special District Court Term May Be Called Here Judge Has Commission Select Two Sets of Grand And Petit Jurors Possibility that Gillespie County may have a special term of District Court at some period between now and the regular August term, is seen through the order of Judge Carl Runge by which the Jury Commission selected two sets of Grand and Petit Juries instead of the usual one, in their session Friday. No intimation has been made when or if this special session will be called. A district judge is empowered by law to call a special term on short notice, court attaches say. As stated in our issue of last week, court for this term closed on Friday. Entries on the court docket since our last information was taken therefrom included the following transactions on the civil lists: Mrs. Ella Langerhans vs. Theo. Langerhans, divorce; judgment for plaintiff for divorce and restoration of former name of Mrs. Ella Schmidt, as prayed for. Felix Meurer vs. Mason Mutual Life Insurance Assn. et al; damages, on change of venue from Mason county; judgment for plaintiff; defendant's motion for new trial overruled and appealed to court of civil appeals. Frank Gold vs. Raymond Feller, debt and foreclosure; judgment for plaintiff but foreclosure of any lien denied. Docket entries pertaining to the cases in which sureties and depositors of Bank of Fredericksburg and Citizens Bank ask appointment of receivers for the defunct institutions, are: "The Receiver is directed to mail statements to all customers of the Bank of Fredericksburg showing the balances or indebtedness of said customers. To deliver to all persons who are not in any manner liable to the (Continued on page 2, col. 2.) Auxiliary Notes The regular meeting of the Fredericksburg Public School Auxiliary, held at the Auditor-


Article Text

From the notes and open accounts that Mr. Oscar Krauskopf turned over to the Receiver there has been approximately $25,500.00 collected. Since being appointed, the present Receiver has collected $26,279.27 on the notes in the note case and has collected $9,092.92 in overdrafts, this does not include the $5,000.00 note R. C. Bonn gave and secured by a Deed of Trust on 238 acres of land. On approximate $19,500.00 of the notes additional security has been gotten and approximately $29,000.00 of the notes have been renewed. There is $4,864.73 in cash on deposit in the Fredericksburg National Bank and the Frost National Bank. There has been some expense attached to the Real Estate Account. A payment to the Federal Land Bank of $130.00 on the Frio county land and when Mr. Wm. Petsch deeded his land to the bank to take care of his indebtedness $3,914.73 was paid to Paul Ingenhuet to protect the equity the bank had in the land. The item of $36.48 has been collected on safety deposit boxes owned by the bank, of the $4,025.27 interest item, a small part of this amount is unearned interest. In the expense account there has been paid out: For Insurance and Bonds $ 292.16 For Office Rent 210.00 The Following Attorneys Fees: Arthur Stehling 125.00 Alex Jung 125.00 Alfred Petsch 100.00 H. H. Sagebiel (This includes retainers fee in full) 2,372.20 In salaries the following has been paid out W. A. Williams $ 160.00 A. E. Grosse 208.81 D. J. Hoerster 1,044.43 Fred Kollet 75.00 Max J. Bierschwale 200.00 Walter F. Bierschwale 515.00 A. H. Klingelhoefer 215.00 Ernst Nagel 55.00 L. B. Benson 637.50 (Included in this is $435.00 due the bank employees at the time the bank closed for salaries.) There has been paid out on pasturage and care of livestock $422.74. It is my opinion that the Citizens Bank will pay 45% to the depositors, I base this on the fact that there are some well collateralled notes and good personal notes in the note case, and the following equities in land and real estate: Wm Petsch land $ 3,500.00 Fredericksburg lots 1,700.00 Doss land 4,000.00 Cross Mountain property 400.00 Llano property 1,500.00 Beckmann place 5,000.00 Brockmann place 3,500.00 Other assets of the bank 20,000.00 Total $ 39,600.00 The Citizens Bank has paid in Dividends 24%. I, D. J. Hoerster, Receiver of the Citizens Bank (Unincorporated), do hereby solemnly swear that the above and foregoing statements are correct to the best of my knowledge and belief. D. J. Hoerster. Sworn and subscribed to before me, the undersigned authority, on this the 22nd. day of December, A. D. 1932. Lawrence Knopp, Notary Public, Gillespie Co., Tex. Due to lack of space the Bank of Fredericksburg report will be published in next issue in the Standard and both reports will appear in next weeks issue of the Wochenblatt.