21939. Citizens Bank (Wise, VA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 4, 1929
Location
Wise, Virginia (36.976, -82.576)

Metadata

Model
gpt-5-mini
Short Digest
b5ba471e

Response Measures

None

Description

A receiver (E. C. Carico / Carrico) was named for the Citizens Bank of Wise (article dated 1929-01-04). Newspaper reports describe liquidation and appointment of a receiver; no contemporaneous run is mentioned. The bank's troubles are attributed to a business slump in the coal fields (local economic shock). Subsequent 1930 court notices show the receiver pursuing claims, consistent with permanent closure and receivership. OCR spelling of the receiver's name varies (Carrico/Carico) — standardized as E. C. Carico in events.

Events (2)
1. January 4, 1929 Receivership
Newspaper Excerpt
formerly deputy was today appointed receiver for the Citizens Bank of by Judge circuit the state motion of was directed examiner, receivership petition Corporation CommisState will take charge Carrico over with Mr. morning Bristow diately after will be make determine the bank's finances ... matter of liquidation which be carried out in orderly This he can be plished eighteen months or two E. C. Carico, Receiver for Citizens Bank of Wise, Complainant, against Mary E. Ausitn and Kester Counts, Defendants. (court notices in 1930).
Source
newspapers
2. January 4, 1929 Suspension
Cause
Local Shock
Cause Details
Bank hit by business slump in the coal fields leading to insolvency/liquidation and appointment of a receiver.
Newspaper Excerpt
CARRICO NAMED RECEIVER WISE, CITIZENS BANK Expect Depositors To Be Paid In Full; Hit By Business Slump NO EVIDENCE OF MISMANAGEMENT
Source
newspapers

Newspaper Articles (5)
1. January 4, 1929 Evening Herald Courier Bristol, TN
Article from Evening Herald Courier, January 4, 1929

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Article Text

CARRICO NAMED RECEIVER WISE, CITIZENS BANK Expect Depositors To Be Paid In Full; Hit By Business Slump NO EVIDENCE OF MISMANAGEMENT Considerably Less Than Ten Percent Of Loans Will Be Lost, He Says After Brief Survey formerly deputy was today appointed receiver for the Citizens Bank of by Judge circuit the state motion of was directed examiner, receivership petition Corporation CommisState will take charge Carrico over with Mr. morning Bristow diately after will be make determine the bank's finances of require from four This stated Mr. No Mismanagement hurried of After today Bristow stated books evidence of any could find no the affairs but that business the have in the reflected in the coal fields volume the bank's business, profit being made sufficient continue in on the bank's books, believed less than ten per be was If be by the probable that the depositors paid 100 per leaving be small loss assumed by the stockholders, be Mr. matter of liquidation which be carried out in orderly This he can be plished eighteen months or two

2. January 9, 1930 The Dickenson County Herald Clintwood, VA
Article from The Dickenson County Herald, January 9, 1930

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Article Text

ORDER OF PUBLICATION In the Clerk's office of the Circuit Court of the County of Dickenson, on the 4th day of January, 1930. E. C. Carico, Receiver for Citizens Bank of Wise, Complainant, against Mary E. Ausitn and Kester Counts, Defendants. The object of this suit is to set aside a fraudulent and voluntary conveyance and subject the land of same to payment of defendants debts. And affidavit having been made and filed that the defendant, Kester Counts, is not resident of the State of Virginia, it is ordered that he do appear here within 10 days after due publication hereof, and do what may be necessary to protect his interest in this suit. And it is further ordered that a copy hereof, be published once a week for four successive weeks in the Dickenson County Herald and that a copy be posted at the front door of the court-house of this county on or before the 1st January rules, 1930. A copy-Teste: LEE STANLEY, Clerk. L. N. SOWARDS, p. q.

3. January 16, 1930 The Dickenson County Herald Clintwood, VA
Article from The Dickenson County Herald, January 16, 1930

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Article Text

ORDER OF PUBLICATION In the Clerk's office of the Circuit Court of the County of Dickenson, on the 4th day of January, 1930. E. C. Carico, Receiver for Citizens Bank of Wise, Complainant, against Mary E. Ausitn and Kester Counts, Defendants. The object of this suit is to set aside a fraudulent and voluntary conveyance and subject the land of ame to payment of defendants debts. And affidavit having been nade and filed that the defendant, Kester Counts, is not resident of the State of Virginia, it is ordered that he do appear here within 10 days after due publication hereof, and do what may be necessary to protect his interest in this suit. And it is further ordered that a copy hereof, be published once a week for four successive weeks in the Dickenson County Herald and that a copy be posted at the front door of the court-house of this county on or before the 1st January rules, 1930. A copy-Teste: LEE STANLEY, Clerk. L. N. SOWARDS, p. q.

4. January 23, 1930 The Dickenson County Herald Clintwood, VA
Article from The Dickenson County Herald, January 23, 1930

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Article Text

ORDER OF PUBLICATION In the Clerk's office of the Circuit Court of the County of Dickenson, on the 4th day of January, 1930. E. C. Carico, Receiver for Citizens Bank of Wise, Complainant, against Mary E. Ausitn and Kester Counts, Defendants. The object of this suit is to set aside a fraudulent and voluntary conveyance and subject the land of same to payment of defendants debts. And affidavit having been made and filed that the defendant, Kester Counts, is not resident of the State of Virginia, it is ordered that he do appear here within 10 days after due publication hereof, and do what may be necessary to protect his interest in this suit. And it is further ordered that a copy hereof, be published once a week for four successive weeks in the Dickenson County Herald and that a copy be posted at the front door of the court-house of this county on or before the 1st January rules, 1930. A copy-Teste: LEE STANLEY, Clerk. L. N. SOWARDS, p. q.

5. January 30, 1930 The Dickenson County Herald Clintwood, VA
Article from The Dickenson County Herald, January 30, 1930

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Article Text

ORDER OF PUBLICATION In the Clerk's office of the Circuit Court of the County of Dickenson, on the 4th day of January, 1930. E. C. Carico, Receiver for Citizens Bank of Wise, Complainant, against Mary E. Ausitn and Kester Counts, Defendants. The object of this suit is to set aside a fraudulent and voluntary conveyance and subject the land of ame to payment of defendants lebts. And affidavit having been nade and filed that the defendant, Kester Counts, is not resident of the State of Virginia, it is ordered that he do appear here within 10 days after due publication hereof, and do what may be necessary to protect his nterest in this suit. And it is furthr ordered that a copy hereof, be published once a week for four sucessive weeks in the Dickenson Couny Herald and that a copy be posted it the front door of the court-house f this county on or before the 1st January rules, 1930. 1 copy-Teste: LEE STANLEY, Clerk. L. N. SOWARDS. p. a.