20338. Citizens State Bank (Fort Pierre, SD)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 1, 1913*
Location
Fort Pierre, South Dakota (44.354, -100.374)

Metadata

Model
gpt-5-mini
Short Digest
0de302c8

Response Measures

None

Description

The articles describe the failure of the Citizens State Bank at Fort Pierre in May 1913 and subsequent legal action (embezzlement/forgery by the former president). No article describes a depositor run; the bank failed/suspended and did not reopen in the coverage. Arrest of the president occurred in 1914. Dates: failure May 1913; arrest April/May 1914.

Events (2)
1. May 1, 1913* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Failure caused by embezzlement and forgery by the bank's president (John A. Hayes) leading to insolvency; charges and losses cited (~$53,000 to $80,000).
Newspaper Excerpt
the failure of both banks in May, 1913, entailing a loss of $80,000.
Source
newspapers
2. April 30, 1914 Other
Newspaper Excerpt
John A. Hayes, formerly president of the Citizens State bank at Fort Pierre ... was arrested ... charged with embezzlement and forgery in connection with the failure of both banks in May, 1913, entailing a loss of $80,000.
Source
newspapers

Newspaper Articles (4)
1. February 5, 1914 Philip Weekly Review and Bad River News Philip, SD
Article from Philip Weekly Review and Bad River News, February 5, 1914

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Article Text

Hundred Fiftysix & 66.100 Dollars for which sum it became liable by reason of the default of the said Citizens State Bank, the receipt where if by the said County of Stan. ley is hereby acknowledged. NOW, THEREFORE, In considera. tion thereof, the said County of Stanley by its Board of County Commissioners in regular session as sembled, has sold, assigned, transterred and set over and does hereby sell, assign and transfer unto the a said Western Surety Company, corporation, its account, claim and demand against the sa Citizens State Bank, of Fort Pierre, South Dakota, in the said sum of Seven. teen Hundred Fifty Six & 66.100 Dollars and dres hereby authorize Com. the said Western Surety pany to collect and rece ve from of the said Citizens State Bank of Fort Pierre the said sum & Seventeen Hundred Fifty-Six 66.100 Dollars paid by it, as such streety Oir such dividends thereon as may be paid to creditors of said Citizens State Bank of Fort Pierre on said sum. Dated at Fort Pierre, South Dak ta, this 21st day of January, 1914. Board Of County Commissioners Of Stanley County, South Dakota. By F. A. Hart, Chairman. ATTEST: James A. Quigg (SEAL) County Audit r of Stanley County, South Dakota. On motion, the Road Viewers report of committee appointed to view road commencing on twp line between twps 7 and 8 N. R. 28e., and running across section 4 and 9, Twip 7 N. R. 28 E., was approved. On motion, the official bond of L. E. Aldrich for County Exam her for for Stanley County for 1914 $500.00 was approved. On motion, petition to annex Twp. 6 N. R. 18 E. and fractional twip 7 N. R. 18 E. to Marietta Precinct No. 7, with politing place at Mariett Post-office for voting purposes, was granted. deOn motion, the county pository bond of Fort Pierre National Bank was approved in the sum of $10.000.00. On motion, the County depository bond of Belvidere State Bank was approved in the sum of $5000.00. On motion, the renewal certifi. cate of County Depository Bond of State Bank of Interior was ap. proved in the sum of $4000.00. On motion, the following named banks doing business within Stan. as ley County were designated County Depositories: State Bank of Interior Bank of Nowlin A. C. Whitbeck, Banker, Belvidere Farmers' State Bank of Kadokaw Cottonwood State Bank Belvidere State Bank Bank of Philip Bank of Midland Bank of Stamford Cocurity Monbino P. Trust Co. phill Filec. State Bank of Philin Milland State Park Stock Growers Bank Fort Pierre The Plarre National Bank On motion. notition of Watella Cniewell for county aid was ranted On motion. notition mp Mrs. Mr. Guav for county aid was granted On motion. $300.00 ated from the General Fund for State fair nurposes for 1914. ac. acidine to Chanter 149 Session Taws of 1913. to The Committees appointed check Auditor's and Treasurer's Office made the following report: The Board of County Commission ers. pursuant to Section 876 of the Political Code of South Dakota, proceeded to make an inspection and examination of the books, ac. counts, vouchers. moneys, warrants and orders of the County Auditor and found and made the following report: Auditor's balance July 28th, 1913 $ 42,103.09 Receipts from July 28th to July 31st, 1913, inc. 1,980.07 44,083.16 Disbursements from July 28th to July 31st, 1913, inclusive 3,045.09

2. April 30, 1914 The Mitchell Capital Mitchell, SD
Article from The Mitchell Capital, April 30, 1914

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Article Text

BANKER TAKEN ON THE COAST FORMER PRESIDENT OF STANLEY COUNTY BANKS ARRESTED AT VANCOUVER FOR EMBEZZLEMENT OF $80,000. Abcrdeen, S. D.-John A. Hayes, formerly president of the Citizens State bank at Fort Pierre and the Capa State bank of Capa, S. D., was arrested Sunday at Vancouver, B. C., charged with embezzlement and forgery in connection with the failure of both banks in May, 1913, entailing a loss of $80,000. Heyes was followed for several months by Pinkerton detectives but lost track of and no trace discovered of him until Attorney William A. Hazle of Aberdeen took the case, following him to Sioux City, where he purchased a rol lof music from Mrs. Elsie Bisping at Pelletier's, March 13. He was traced from there to Vancouver, where the services of John Heron, a former resident of Fort Pierre, were enlisted and Hayes was run to earth and arrested. He will be brought back this week by Attorney Hazle and Sheriff C. E. Coyne of Stanley county. The failure of the Stanley and Lyman county banks last May caused a considerable flurry in those sections, owing to the large amount of money involved in their failure. Hayes is alleged to have made away with the bulk of the $80,000 loss through forgery and embezzlement, information against him having been furnished by one of the other officers /of the Fort Pierre bank

3. May 7, 1914 The Miller Press Miller, SD
Article from The Miller Press, May 7, 1914

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Article Text

HAYES IS ARRESTED. Banker Charged With Embezzlement Caught on Pacific Coast. Aberdeen.-John A. Hayes, formerly president of the Citizens State bank of Fort Pierre and the Capa State bank of Capa, S. D., was arrested at Vancouver, B. C., charged with embezzlement and forgery in connection with the failure of both banks in May, 1913, entailing a loss of $80,000. Hayes was followed for several months by Pinkerton detectives, but lost track of and no trace discovered of him until Attorney William A. Hazle of Aberdeen took the case, following him to Sioux City, where he purchased a roll of music from Mrs. Elsie Bisping at Pelletier's March 13. He was traced from there to Vancouver, where the services of John Heron, a former resident of Fort Pierre, were enlisted and Hayes was run to earth and arrested.

4. May 14, 1914 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, May 14, 1914

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Article Text

STATE NEWS Pierre-Mrs. Linstad was severely burned on the arms and face in a small blaze caused by a gasoline explosion in the rooms occupied by herself and son, Capt. Otto B. Linstad. Pierre-Gov. Byrne has filed his expense account with the secretary of state, showing that the expense of his campaign for renomination was $1,279.97. Geddes-States Attorney A. B. Beck has commenced injunction proceedings against W. C. Kinser, proprietor of the Padley hotel, of this city, on the ground that he has been running a disorderly house. The case will come up for trial before Judge R. B. Tripp, at Wheeler, May 16. Washington, D. C.-Representative Norton, of North Dakota, and Senator Sterling, of South Dakota, are working to have a special order made of the measure extending the time for payments by homesteaders on the Cheyenne and Standing Rock reservations and in Mellette and Bennett counties, South Dakota. They are asking Underwood and Mann to consent to this, owing to its urgency. Because of the crowded calendars it cannot be reached unless made a special order. Rapid City-This city is now using its new federal building. The first department to move in was the post office, which will occupy all of the main floor. The second floor will be occupied by the United States land office and the local branch of the weather bureau, while offices will also be reserved on this floor for the postoffice inspector of this district and the representative of the federal bureau of animal industry. Spencer-Little Evelyn Siefert, the 8-year-old daughter of Mrs. P. G. Siefert of this place, was the victim of an unfortunate accident here Tuesday, when she was run down by an automobile. She, with some other children, were playing ball upon the sidewalk when the ball rolled into the street. She darted after it not noticing the approaching auto, which was drawing up to the curb preparatory to stopping. The auto ran over the right leg breaking it just above the knee. The bone broke off quite sharp, protruding nearly through the flesh. Pierre-John Hayes was given a preliminary hearing before Justice C. A. Bennett at Fort Pierre on nine different charges growing out of his transactions which wrecked the Citizens' State bank at that place about a year ago. The charges comprise forgery in the second and fourth degrees, falsification of records, making false reports to the public examiner, publication of false reports, and a blanket charge of falsification and embezzlement. The amounts involved are about $53,000. He waived examination on all the charges and his bond was fixed at $12,400 for his appearance at the October term of court. A cash bond of $6,000 was offered but refused. Watertown-The Watertown Commercial club discovered a new method of compelling the participation of members in the consideration of important business. When the proposition of submitting to the people the question of issuing $100,000 worth of bonds to build a municipal street railroad came up, officers of the club locked the doors, and no member was permitted to depart until the debate was finished and the motion urging the city commission to call a special election was carried. The club pronoses to build a street railway ave.