19948. Citizens National Bank (Wisconsin Rapids, WI)

View Charter #10330 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
10330
Charter Number
10330
Start Date
December 22, 1931
Location
Wisconsin Rapids, Wisconsin (44.384, -89.817)

Metadata

Model
gpt-5-mini
Short Digest
dc347097bba0daaf

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1931-12-22
Date receivership terminated
1938-07-15

Description

Articles state the Citizens National Bank of Wisconsin Rapids was declared insolvent on Dec. 22, 1931 and a receiver (Joseph A. Gamble) was appointed. No run or pre-suspension depositor panic is mentioned. Receiver filed suits in March 1932 to collect unpaid double-liability assessments from stockholders. Therefore this is a suspension/closure with receivership.

Events (4)
1. February 15, 1913 Chartered
Source
historical_nic
2. December 22, 1931 Receivership
Source
historical_nic
3. December 22, 1931 Receivership
Newspaper Excerpt
The bank was declared insolvent Dec. 22, 1931
Source
newspapers
4. March 30, 1932 Other
Newspaper Excerpt
Joseph A. Gamble, bank receiver, in U. S. district court ... has filed suit against stockholders of the bank collecting stock assessments alleged to be unpaid.
Source
newspapers

Newspaper Articles (2)
1. March 30, 1932 The Capital Times Madison, WI
Article from The Capital Times, March 30, 1932

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Article Text

Hambrecht Is Defendant in Suit by Bank 50 Stockholders of Closed Institution Sued For $34,000 George P. Hamprecht, Madison, state director of vocational education, is one of 50 stockholders in the Citizens' National bank, Wisconsin Rapids, who are being sued for payment of assessments under the double indemnity law in suit filed today by Joseph A. Gamble, bank receiver, in U. S. district court here. Mr. Hambrecht's assessment is for $1,000. About $34,000 is involved in the action. according to papers filed in the suit. The assessments range from $60 to $8,000. The largest assessment is that of A. P. Hirzy, Wisconsin Rapids, which totals $8,000. The bank was declared insolvent Dec. 22, 1931, according to the complaint. It is understood that some of the stockholders have paid their assessments and only the delinquent stockholders are included in the action.

2. March 31, 1932 Wausau Daily Herald Wausau, WI
Article from Wausau Daily Herald, March 31, 1932

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Article Text

Court to Set Date Of Hearing in Bank Receivership Suit One Wausau Resident is Named in Action Taken in Wisconsin Rapids Case Madison, March court expected date for hearing on complaint Joseph Gamble, receiver for the Citizens National bank, of Wisconsin Rapids, has filed suit against stockholders of the bank colfifty lect stock assessments alleged to be unpaid. Under the law of double liability stockholders the federal comptroller of levied assessment $100 share against each shareholder after the bank December 1931 had been declared insolvent The to help meet the clared necessary obligations. On December 22 the Citizens National. according to the complaint had outstanding 1,000 shares value of $100 share, or total $100,000. The assessment ordered to be paid before February 15 of this year. The receiver alleged that the payments on substantial portion of the stock were not made and although notice served on the defendant shareholders the assessments against them are owing. Stockholders List Judgment asked in the comagainst the following stockplaint holders: Nate Anderson. Wisconsin Rapids, shares, $1,500. Anna Bamberg, Wisconsin Rapids, shares, $300. John Bamberg, Wisconsin Rapids, $300. Baum, Pittsville, 3-5 John E. Baum, 3-5 shares, Isabell Zimmerman Bushnell WisRapids, share, Charlotte Wausau, Claflin. Mauston, shares, Peter Diesberg, Nekoosa, shares, Elizabeth Ernser. Wisconsin Rap$300 M. Ernser, Wisconsin Rapids, $800. Wisconsin Rap ids, 12 shares, Geoghan, Wisconsin Rapids, share, $100. Emma Goldberg. Wisconsin Rapshares, $300. Griesbach, Wisconsin RapGeorge Hambrecht, Madison, 10 shares, W. Herschleb, Wisconsin Rapshares, $200. Hirzy, Wisconsin Rapids, 80 shares, $8,000. Swen Holberg, Wisconsin Rapids, $200. Von Holliday, Wisconsin Rapids, $500. James C. Jensen, Arpin, shares Irving M. Johnson, Waukesha. 5 shares, $500. Leonard C. Joslin, Nekoosa, share, $100. Bessie La Vigne, Wisconsin Rapids, $100. James La Vigne, Wisconsin Rapids, shares, $200. Lena Levin Clayton, 3-5 share, $60. August Leffelbein, Wisconsin Rapids, shares, $200. Minnie Lutz, Wisconsin Rapids, shares. $400. Mariva Lynn. Wisconsin Rapids, 4-15 shares, $126.66. Rhoda Anna Lynn, Wisconsin Rapids, 1-3 shares $633.33 B. Metzer, Wisconsin Rapids, shares, $400. Mortensen. Wisconsin Rap50 shares, Carl Noetzel, Milwaukee, shares, Otto, Wisconsin Rapids, shares, $200. Edward Panter, Wisconsin Rapshare, Guy N. Potter. Wisconsin Rapids, shares, $500. Edith Saecker. Wisconsin Rapids. shares, $253.33 William Wisconsin Rapshares, $200. Frances Wisconsin Rapids, $600. Staub, Wisconsin Rapids. Catherine Vaughan, Wisconsin Gertrude Trudell. Wisconsin Rapshares. $1,100 Catherine Vaughen, Wisconsin Rapids, shares, Carl Vaughan, Wisconsin Rapshares, $400. Herman Viertel, Wisconsin Rapshares, Ina Lynn White Wisconsin Rap$253.34 Albert Witte Wisconsin RapJohn M. Worlund, Wisconsin Rap$100. Antoinette Wisconsin Rapids, share, $100. Sophia Zuege, Wisconsin Rapids, share, $100. To Enforce Liability Gamble appointed for the bank shortly after It was clared insolvent. stated in his complaint that was brought in his capacity as receiver for the purpose of enforcing the statutory liability each stockholder.