Citizens Bank (Pulaski, VA)

Episode Information

Episode UID
1950839591376
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
195083959 hash
Start Date
August 17, 1914
Location
Pulaski, Virginia (37.048, -80.780)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
f9affd6420cfa12e

Response Measures

None

Description

Bank surrendered its charter after 17 days; funds transferred to People's Bank for repayment.

Events (1)
1. August 17, 1914 Suspension
Cause
Voluntary Liquidation
Cause Details
Bank surrendered its charter and discontinued business because of withdrawals and lack of patronage; funds turned over to People's Bank of Pulaski.
Newspaper Excerpt
The Citizens' Bank, Inc., announced to-day that after having been open for seventeen days it would surrender its charter, and discontinue business.
Source
newspapers

Newspaper Articles (2)
1. August 19, 1914 The Times Dispatch Richmond, VA
Article from The Times Dispatch, August 19, 1914

Click image to open full size in new tab

Article Text

BANK SURRENDERS CHARTER. Will Discontinue Business After Being Open for Seventeen Days. [Special to The Times-Dispatch.] PULASKI. VA., August 17 - The Citizens' Bank. Inc., announced to-day that after having been open for seventeen days it would surrender its charter, and discontinue business. The funds received by the bank during its short career were turned over to the People's Bank of Pulaski with a list of the depositors, and the amounts will be refunded through this bank The withdrawal of deposits and the failure of the people to appreciate the additional banking facilities offered are given by the officers as the reason for the suspension of business. D. A. L. Worrell, of Dublin, was president, and J. Walter Webb. recently of Carroll County, cash1er. The bank was Incorporated at $25,000, and was authorized to open for business on August 1.

2. August 21, 1914 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, August 21, 1914

Click image to open full size in new tab

Article Text

BANK SURRENDERS CHARTER. Will Discontinue Business After Beiⁿg Open for Seventeen Days. Pulaski. Va., August 21.-The Citizens' Bank, Inc., announced Tuesday that after having been open for seventeen days it would surrender its charter, and discontinue business. The funds. received by the bank during its short career were turned over to the People's Bank of Pulaski with a list of the depositors, and the amounts will be refunded through this bank. The withdrawa] of depos_ its and the failure of the people to appreciate the additional banking facilities offered are given by the offirers as the reason for the suspension of business.