20623. Citizens Bank (Daisy, TN)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
February 1, 1930
Location
Daisy, Tennessee (35.248, -85.186)

Metadata

Model
gpt-5-mini
Short Digest
47e5c458

Response Measures

Books examined

Description

In Feb 1930 heavy withdrawals tied to the nearby Soddy Bank failure caused the Citizens Bank of Daisy to close temporarily (state examiner inspected and found accounts in good shape). A chancery decree to reopen the bank was issued May 2, 1930. A later receivership/closure occurred in 1931 (bank went into receivership in spring 1931), but the articles show the 1930 episode resulted in a suspension followed by reopening.

Events (4)
1. February 1, 1930 Run
Cause
Local Banks
Cause Details
Heavy withdrawals and excitement triggered by the failure of the nearby Soddy Bank
Measures
Closed doors about noon as a precaution; called state bank examiner to inspect books
Newspaper Excerpt
the excitement and heavy withdrawls occasioned by the failure the Soddy the Citizen's bank of Daisy, 15 miles from Chattanooga, closed its doors about noon
Source
newspapers
2. February 1, 1930 Suspension
Cause
Local Banks
Cause Details
Temporary suspension of payments/closure in response to runs precipitated by neighboring Soddy Bank failure
Newspaper Excerpt
the Citizens Bank of Daisy ... closed its doors about noon Friday and failed to open Saturday morning ... Officials declare the closing is only temporary, and was done to protect the bank against run. The state bank examiner ... was called to inspect the books
Source
newspapers
3. May 2, 1930 Reopening
Newspaper Excerpt
Receivership for the Citizens Bank of Daisy ... was lifted in chancery court here today and decree issued for reopening of the Institution The bank got into difficulties some months ago following run on a bank In a neighboring town.
Source
newspapers
4. April 1, 1931* Receivership
Newspaper Excerpt
The at Daisy went into receivership last spring ... Since that time, has paid the depositors over half of the ... possibly will be able to pay all by the time the liquidation is finished, Maj. Phil Whitaker said.
Source
newspapers

Newspaper Articles (6)
1. February 1, 1930 Elizabethton Star Elizabethton, TN
Article from Elizabethton Star, February 1, 1930

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Article Text

Hoover And Fort Differ in Views On Prohibition Laws Late News Bulletins EXPOSURE FATAL RICHMOND, Richmond real tor, was in hospital suffering from while his hunting guide, negro, dead as the result of the two forced to remain for hours last night in the of swamp ten miles below Hepewell. For nearly three hours the men stood waist deep in the water their boat had sunk. large part of this time Fulton supported his companion, Cornelius Atkins, soon collapsed from the exposure: The negro still alive when another hunting rescued the two, died soon afterwards. AFFRIMED CONVICTION state supcourt today affirmed the conviction of Charles Taylor, Memphis "trunk murderer," confessed to killing his wife because she "nagged" him, but recommended Gov. Henry H. Horton that the death sentence be commuted to life imprisonment. BANK CLOSES DOORS the excitement and heavy withdrawls occasioned by the failure the Soddy the Citizen's bank of Daisy, 15 miles from Chattanooga, closed its doors about noon failed to bank Officials declare the closing only and was done to protect the bank against run. The State bank examiner at work on the books of the elosed Soddy bank called to inspect the books of the Daisy bank. BANDITS GET $2,400 Three bandits today entered car barn of the Schenectady railway company, tied up cashier and another employe, cut the telephone wires, and escaped with approximately $2,400. short time later two patrolman found $800 canvas bag in alley off State street. believed to be part of the loot. CRUISER LAUNCHED NEWPORT NEWS, light Cruiser Augusta was launched here today at colorful ceremonies attended by delegations from Georgia and Washington, including high ranking officials of the United States Navy. ARREST SUSPECTS police and bullet proof vests and armed with sawoff shotguns made spectacular raid on two apartments here today and arrested two men and woman suspected being implicated in series Daring bank robberies at Kanas City and several other cities in the middlewest, Those arrested gave their names as Lowell Foster, Garrett Petro, 22, and Mrs. Mrs. Louise Petro. ASK SUPPORT Associated Press The daughters of the American revolution were asked to lend their support to movement to have the 1846 District of Columbia lines reestablished in an open letter made public here today

2. February 1, 1930 The Atlanta Journal Atlanta, GA
Article from The Atlanta Journal, February 1, 1930

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Article Text

Bank Closes its Doors, Merely as Precaution CHATTANOOGA Tenn. Feb. to the excitement and heavy withdra occasioned by the failure the Bank the Citizens Bank of Daisy fifteen miles from Chattanooga closed its doors about noon Friday and failed to open Saturday morning. The bank has a capital of Officials of the bank declare the closing is was to protect the bank run The bank examiner work on the books the closed Soddy Bank, was called to inspect the books of the Daisy Bank According to information received here the found the accounts of the Daisy Bank in good shape.

3. February 2, 1930 The Huntsville Times Huntsville, AL
Article from The Huntsville Times, February 2, 1930

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Article Text

CITIZENS' BANK OF DAISY FAILS TO OPEN CHATTANOOGA, Tenn., Feb. 1(A to the excitement and heavy by the failure of the Soddy Bank nearby, the Bank of Daisy, 15 miles from Chattanooga, closed doors about noon Friday and failed to en Saturday morning. The bank has capital Officials of the bank declare the closing was to protect the bank against The state bank examiner at work the books of the closed Soddy called to inspect the books of Daisy bank According inforreceived the examiner found the accounts in good shape. Coach of Team Shot Feb. Byrd, 26, Coach of the Stanton High teams, shot, probably fatally, youth to whom refused high school basket ball game here night. The shooting occurred shortbefore the game was scheduled to begin.

4. February 2, 1930 Bristol Herald Courier Bristol, TN
Article from Bristol Herald Courier, February 2, 1930

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Article Text

WILL PLEAD ARABS' LAND RIGHTS Delegates Being Sent to DAISY, TENN., BANK IS England and United TEMPORARILY CLOSED States JERUSA are sending delegations to England and the United States to present their side of the recent disturbances in the Holy Land. The Grand Mufti of Jerusalem. Haj Ameen el Husseini, is heading the first delegation bound for Londan. He is the political and spiritual leader of all the Arabs in Transjordania and Palestine and was central figure in the agita; tion that accompanied the bloody Arab-Jewish conflicts of last summer. The Emir Adel Arsian is leading the second delegation which will shortly be in the United States He will try to persuade Arabs wh have achieved success in Americ to return to Palestine and give their money and western trainin toward the 3 up of the Ara nation. The Grand Mufti will try to impress the British public with the justice of complaints by Arabs against what they describe as the Zionist domination in Palestine. CHATTANOOGA. Tenn., Feb. 1. (AP)-Owing to the excitement and heavy withdrawals occasioned by the failure of the Soddy Bank nearby, the Citizens Bank of Daisy. 15 miles from Chattanogoa, closed its doors about noon Friday and falled to open today. The bank has a capital of $15,000. Officials declare the closing is only temporary, and was done to protect the bank against run. The state bank examiner at work on the books of the closed Soddy Bank was called to inspect the books of the Daisy bank. According to information received here the examiner found the accounts of the Daisy Bank in good share

5. May 2, 1930 The Tennessean Nashville, TN
Article from The Tennessean, May 2, 1930

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Article Text

Receivership for Daisy Bank Is Lifted Chattanooga, Tenn., May -(AP) -Receivership for the Citizens Bank of Daisy. Daisy. Tenn., was lifted in chancery court here today and decree issued for reopening of the Institution The bank got into difficulties some months ago following run on a bank In a neighboring town.

6. October 24, 1931 Chattanooga Daily Times Chattanooga, TN
Article from Chattanooga Daily Times, October 24, 1931

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Article Text

DAISY BANK RECEIVER SUES ON UNPAID NOTES Suits were entered yestreday in chancery court by D: D. Robertson. superintendent of state banks and receiver of the Citizens bank. of Daisy, Tenn. against various parties having unpaid notes this bank Whitaker Whitaker attorneys. filed the suit for the bank superintendent The suits were filed against Harry and Lena Mae Copeland for $592, Rufus and Belle Shadwick for $480 and W. D. and Roberta Jackson for $200 The at Daisy went into receivership last spring Since that time, has paid the depositors over half of the and possibly will be able to pay all by the time the liquidation is finished, Maj. Phil Whitaker said. Lusk to Assign Docket. Judge Charles W. Lusk will assign