21157. City National Bank (Gatesville, TX)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
4732
Charter Number
4732
Start Date
April 3, 1897
Location
Gatesville, Texas (31.435, -97.744)

Metadata

Model
gpt-5-mini
Short Digest
51c96213

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1897-05-29
Date receivership terminated
1899-03-24
OCC cause of failure
Losses
Share of assets assessed as good
12.4%
Share of assets assessed as doubtful
53.7%
Share of assets assessed as worthless
33.8%

Description

The bank suspended payments by order of its board on 1897-04-03. A receiver (Thomas M. Thornton) was appointed by June 1, 1897. Later (1899) stockholders selected an agent to take charge and the bank's indebtedness was reported paid with interest, but contemporary articles show a receiver was appointed and litigation referenced the bank and its receiver, indicating it did not simply continue normal operations — classified as suspension leading to closure/receivership. Cause of suspension is not stated in the articles; blame phrases (stealings by 'honest' money advocates) are editorial and not clear evidence of a discrete run or solvency scandal, so cause is coded as other/unknown.

Events (5)

1. April 23, 1892 Chartered
Source
historical_nic
2. April 3, 1897 Suspension
Cause Details
Notice on bank door says closed by order of board of directors; no explicit cause given in articles.
Newspaper Excerpt
Closed-By order of board of directors, this bank suspends payment. All depositors will be paid in full. J.R. SAUNDERS, Pres.
Source
newspapers
3. May 29, 1897 Receivership
Source
historical_nic
4. June 1, 1897 Receivership
Newspaper Excerpt
Thomas M. Thornton has been appointM receiver for the City National bank of Gatesville.
Source
newspapers
5. March 6, 1899 Other
Newspaper Excerpt
The stockholders of the City National bank met here and selected W. E. Brown as agent to take charge of the property of the bank. Receiver Thornton will be relieved when the bond of W. E. Brown is approved by the comptroller of the currency. The intire indehtedness of the bank has been paid with 6 per cent interest without an assessment on the stock.
Source
newspapers

Newspaper Articles (11)

Article from The Daily Ardmoreite, April 5, 1897

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Article Text

WAVES OF PROSPERITY. BANK SUSPENDS. Gatesville, Tex., April 3.The following notice was hung on the door of the City National bank this morning: "Closed-By order of board of directors, this bank suspends payment. All depositors will be paid in full. "J.R. SAUNDERS, Pres."


Article from The Black Range, April 23, 1897

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Article Text

"Since the banks have quit breaking, robbers are getting in their work."Albuquerque Citizen. Yes; the tariff robbers. "Since the banks have quit breaking!" For the benefit of the honorable but deluded editor of the above goldite organ we will recite the suspension of a few of the banks that have occurred during the present month: The American Exchange Bank of Buffalo, N. Y.; the Bank of Bartley, Nobraska; the First National Bank of Comanche, Texas; the Globe Savings bank of Chicago; the City National bank of Gatesville, Texas; the Citizeus' bank of Bowling Green, Mo. The editor of the Citizen should read up and do less talking through his bat.


Article from Lyon County Times, April 24, 1897

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GOLDBUG GOOD TIMES. How Restored Confidence Works In the Business Community The Globe Savings Bank of Chicago has assigned. The City National Bank of Gatesville, Tex, has suspended. The Lebanon, Pa., Rolling Mills Company has made an assignment. W. C. Eccleston, grocer at Natick, R.I., has filed a petition in insolvency. A receiver has been appointed for the Salem Iron Company, of Leetonia, Ohio. J. M. Pancake, general store and gin, at Bush, Tex., has given a trust deed. E. Albertson, dealer in notions, at Hannibal, Mo., has made an assignment. The sheriff has closed the store of W. C. Bernardi, dealer in dry goods at Pittsburg, Pa. E.D. Neu-tadt & Co., flour com mission dealers of New York city, have assigned. A receiver has been appointed for Lundy & Smith, general store at Duncombe, Ia. American Exchange Bank of The volunBuffalo, N. Y., has gone into tary liquidation. The Bank of Bartley, Nebraska, is closing its affairs, and is paying depositors claims in full. The Jacksonville, Tampa and Key West railway has been offered for sale in Jacksonville, Fla. George S. Kinney's Sons, wholesale liquor dealers, at Nashville, Tenn., have made an assignment. Tanner & Stark, general store, at Otter Lake, Mich., have given a chattel mortgage in trust for $7,800 L. Graham & Son. printers at New Orleans, have called a meeting of creditors to ask all extension. The Stratton Bros. Company, dealer in dry goods at Gardner, Mass., has made an assignment. The First National Bank of Comanche, Texas, chartered in 1886, capital $100,060, sorplus $20,000, closed its doors April 1st. James B. Brewster & Co., reorganized carriage manufacturers at New York, have assigned without preferences. C. Henry Gabel, an undertaker. contractor and builder, of Pottstown, Pa., has made an assignment. The Citizen's Bank of Bowling Mo., suspended April 2. It a in capital Green, had paid of $25,000 and deposits of $100,000. An assignment for the benefit of creditors has been made by the Safe Deposit Building and Loan Asso ciation in Kensington, Ohio. A.J. Davidson & Co., wholesale dealers in produce and agricultural implements at Helena, Mont., have been attached for $8,000. The Comptroller of the Currency has given authority for the organization of the first National Bank of Greensboro, Pa.; capital $50,000. The Cumberland Coal Company, at Stargis, Ky., owned by capital ists of Nashville, Tenn., with W. W. Smith as president, has assigned. Edward S. and Henry V. Williams, stockholders of the New York History Company, have ap.


Article from Kansas Agitator, May 7, 1897

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money advocates, about $1,000,000. The City national bank of Gatesville, Tex., has suspended. Stealings by "honest" m.oney advocates, about $200,000. The Lebanon, Pa., rolling mills company has made an assignment. W. C. Eccleston, grocer at Natick, R I., has filed a petition in insolvency. A receiver has been appointed for the Salem iron company, of Leetonia, Ohio. J. M. Pancake, general store and gin, at Bush, Tex., has given a trust deed. E. Albertson, dealer in notions, at Hannibal, Mo., has made an assignment. The sheriff has closed the store of W. C. Bernardi, dealer in dry goods at Pittsburg, Pa. E. D. Neustadt & Co., flour commission dealers of New York city, have assigned. A receiver has been appointed for Lundy & Smith, general store at Duncombe, Ia. The American exchange bank of Buffalo, N. Y., has gone into voluntary liquidation. The Bank of Bartley, Neb., is closing its affairs, and is paying depositors' claims in full. It is not run by "honest" money advocates. The Jacksonville, Tampa and Key West railway has been offered for sale in Jacksonville, Fla. George S. Kinney's Sons, wholesale liquor dealers, at Nashville, Tenn., have made an assignment. Tanner & Stark, general store, at Otter Lake, Mich., have given a chattel mortgage in trust for $7,800. L. Graham & Son, printers at New Orleans, have called a meeting of creditors to ask an extension. The Stratto Bros. Company, dealer in dry goods at Gardner, Mass., has made an assignment. The First national bank of Comanche, Tex., chartered in 1886, capital $100,000, surplus $20,000, closed its doors. "Honest" money the cause. James B. Brewster & Co., reorganized, carriage manufacturers at New York, have assigned without preferences. C. Henry Gabel, an undertaker, contractor and builder, of Pottstown, Pa., has made an assignment. The Citizens' bank of Bowling Green, Mo., suspended April 2. It had a paid in capital of $25,000 and deposits of $100,000. "Honest" money did it up. An assignment for the benefit of creditors has been made by the Safe deposit building and loan association in Kensington, Ohio. "Honest" money did it. A. J. Davidson & Co., wholesale dealers in produce and agricultural implements at Helena, Mont., have been attached for $8,000. The comptroller of the currency has given authority for the organization of the First national bank of Greensboro, Pa.; capital, $50,000. Hurrah for "sound" money. The Cumberland coal company, at Sturgis, Ky., owned by capitalists of Nashville, Tenn., with W. W., Smith as president, has assigned. Edward S. and Henry V. Williams, stockholders of the New York history company, have applied for the appointment of a receiver. The Colchester, Ct., savings bank has been enjoined from paying out deposits or paying dividends on deposits. Over $50,000 has been withdrawn from the bank within the past six months. Economy No Panacea. When you hear a man discoursing (un) learnedly about economy and saving something out of his scanty income by subsisting on a poorer living and depriving himself of every species of enjoyment and leisure he hasn't stu.


Article from Kansas Agitator, May 7, 1897

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Article Text

The City national bank of Gatesville, Tex., has suspended. Stealings by "honest" money advocates, about $200,000.


Article from The Caucasian, May 13, 1897

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WHAT THE "ADVANCED AGENT OF PROSPERITY" BRINGS. I Samples of the "Goldbug Good Times" That Are Coming Thick and Fast. RICHMOND, Va., May 4.-Mr. Thomas D. Neal, Jr., a tobacco merchant and warebouseman, filed a deed of assignment for $198,000 in the Chancery court this morning, naming Col. Jo Lane Stern as trustee. Mrs. Fannie M. Neal joined her husband in the deed. The Globe savings bank of Chicago has assigned. Stealings by "honest" money advocates, about $1,000,000. The City national bank of Gatesville, Tex., has suspended. Stealings by "bonest" money advocates, about $200,000. PITTSBURG, April 30.-The Westinghouse Air Brake company has posted notices in its foundry department announcing a reduction in wages rang ing from 20 to 40 per cent. In some cases the out equals 90 cents a day. There is considerable talk among the 500 men affected of refusing to accept the reduction. ST. PAUL, April 28-A warrant was issued today for the arrest of William F. Bickel. vice-president of the Minnesota Savings bank. The complainant is E. J. Lucius, a depositor of the bank. who charges Bickel with stealing $2,000 from the bank. The missing money was deposited several months ago by Mr. Lucius, who accepted Bickel's note for the amount.


Article from The Caucasian, May 13, 1897

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The Globe savings bank of Chicago has assigned. Stealings by "honest" money advocates, about $1,000,000. The City national bank of Gatesville, Tex., has suspended. Stealings by "bonest" money advocates, about $200,000.


Article from The Houston Daily Post, June 2, 1897

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RELIEF BILL TIED UP. HOISE FAILED TO ACT ON THE MEASURE. Went Over Until Thursday-Dr. Grant Scared Another Appointmen-Texas Reserve Banks. Washington, June 1.-(Special.)-Owing to the special orders reported from the committee on rules and the consideration of several conference reports and the adsence of a quorum late in the afternoon, Congressman Stephens was unable to get up the resolution making an appropriation for the relief of the Rio Grande sufferers et El Paso. The matter now goes over until Thursday, when it will undoubtedly pass. Dr. John Grant got another appointment today. It was Effie L. Houghton, appointed postmaster at Memphis, Hall county, to succeed G. H. Montgomery, removed. It was said today that the nomination of Gibbons to be postmaster at Paris, which has been hung up in the senate for several weeks, will be confirmed at the next executive session. Thomas M. Thornton has been appointM receiver for the City National bank of Gatesville. Reserve agents for National banks in Texas have been appointed as follows: Merchants' Laclade National bank of St. Louis for the Red River National bank of Clarksville, and the National City bank of New York for the City National bank of Dallas.


Article from The Houston Daily Post, January 10, 1899

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# THE SUPREME COURT. The following proceedings were had in the supreme court today: Motion for rehearing submitted: Avery et al vs. Popper & Bro. et al, from Hunt. Certified questions submitted: Millican vs. McNeil et al, from Harris; Gray ve. State of Texas ex rel Langham, from Jefferson. Petition for mandamus set for January 23: Linden vs. Finley, comptroller. Writs of error refused: Galveston, Harrisburg and San Antonio Rallway Company vs. Bohan, from Galveston; Western Union Telegraph Company vs. Waller, from Williamson; Kerr County vs. Kitchens, from Brown; Shippey et al vs. Hough, from McLennan; Washington Life Insurance Company vs. Gooding, from Lamar; Kemp Grocery Company vs. Trible et al, from Montague; Missouri, Kansas and Texas Railway Company of Texas vs. Rose, from Rains; Garrett et al vs. Cochran, from Harris; Clapper et al vs. Sage et al, from Harris; Galveston, Harrisburg and San Antonio Railway Company vs. Patterson, from Presidio. Writ of error granted: Smith vs. Richardson Lumber Company, from Cooke. Dismossed for want of jurisdiction: Branch et al vs. Simons, from Jackson; City National Bank of Gatesville et al vs. Swink, receiver, etc., from Dallas; Texarkana and Fort Smith Railway Company vs. Bulgier, from Jefferson. # NEW CORPORATIONS. The following corporations filed charters with the secretary of state today: Bethany Presbyterian church of Dallas; assets $750. Incorporators: J. L. Schofield, Ed Brundrett, J. G. Smith. F. M. Hammond company of Dallas; capital stock $15,000. Incorporators: F. M. Hammond, E. C. Connor, Mary E. Hammond. The Meadowbrook Land and Development company of Barker, Harris county; capital stock $400,000. Incorporators: O. T. Holt, B. F. Smith, Frank W. Smith. The Meadowbrook Cotton Mills company. The purpose of this company is to erect a mill for the manufacture of cotton and woolen fabrics at the town of Barker in Harris county. Capital stock $300,000. Incorporators: O. T. Holt, B. F. Smith, Frank W. Smith.


Article from The Eddy Current, March 11, 1899

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Will Take Charge. Gatesville, Tex., March 6.-The stockholders of the City National bank met here and selected W. E. Brown as agent to take charge of the property of the bank. Receiver Thornton will be relieved when the bond of W. E. Brown is approved by the comptroller of the currency. The intire indehtedness of the bank has been paid with 6 per cent interest without an assessment on the stock.


Article from Shiner Gazette, March 15, 1899

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The stockholders of the City National bank of Gatesville have selected W. E. Brown as agent to take charge of the bank's property. Receiver Thornton will be relieved when Mr. Brown's bond is approved by the comptroller of the currency.