22452. Citizens Bank (Tenino, WA)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
December 1, 1931*
Location
Tenino, Washington (46.857, -122.853)

Metadata

Model
gpt-5-mini
Short Digest
c20c6d1e

Response Measures

None

Description

The articles report that the Citizens' Bank in Tenino closed about 12 months before Dec 1932 (i.e., ~Dec 1931) and that the Chamber of Commerce raised funds from sales of wooden dollars to buy the closed bank building and open a new bank. There is no description of a depositor run; this is a suspension/closure followed by an effort to reopen (new bank). Bank type not specified in articles.

Events (2)
1. December 1, 1931* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank failure/closure froze depositors' assets; articles state the Citizens' Bank closed 12 months ago and bank failure froze the assets of the community.
Newspaper Excerpt
the little wooden dollars ... were issued on the assignment of depositors of one-fourth their frozen capital when the Citizens' bank closed 12 months ago.
Source
newspapers
2. January 1, 1933 Reopening
Newspaper Excerpt
The chamber today was negotiating to buy the closed Citizens' Bank building and equipment with the $3,500 and open a new bank. ... With the profits ... the chamber Saturday announced completing deal to buy the building fixtures of the defunct Citizens' Bank and the town will be ready to do business there when the banking law passes. (A.P. Dec. 31/Jan. 1 articles.)
Source
newspapers

Newspaper Articles (9)
1. December 31, 1932 Democrat and Chronicle Rochester, NY
Article from Democrat and Chronicle, December 31, 1932

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Article Text

WOODEN MONEY BUSINESS IS PROFITABLE, TIME REVEALS MURDERED Tree Slabs Honored, City Profits When Curious Coin Keep Tenino, Wash., Dec. chuckled year ago when Tenino the gold, silver and standards and began doing business with bits of wood. Major of the Tenino Chamber of Commerce listened good naturedly while the rest of the world snickered, and waited his turn chuckle. came today and did he didn't chuckle laughed right out loud. The reason was checkup showed that not only has Tenino been doing business usual months wooden but some $3,500 of United States paid hunters the nation the wooden dollars the Chamber of Commerce treasury. With this achievement record the Chamber today started buy closed Citizens' Bank building and equipment with $3,500 plans open bank. had the good wishes the State Banking partment Any concern that net profit wooden money should able to run regulation bank, state examiners opined. The little wooden dollars and in slabs which demption promises printed. issued the depositors one-fourth their frozen capital when the Citizens Bank closed months ago. Banks over the nation honored the slices of Douglas when they were giving depositors in the closed bank their frozen deposits. But of the profited chiefly when ple Peoria and Albuquerque the slabs instead demanding money North Carolinan Posts $500 Reward for Body Of Missing Raleigh, N. Dec. B. Wester of Hendersaid tonight he had concluded definitely that his business assoclate, former State Senator McCoin. missing eight days, been Wester offered $500 reward for location identification McCoin's believed burled Hagerstown, Wester telephoned the Raleigh Bureau of the United News asserted that "Pythian McCoin Columbus, had checked rage there where McCoin's found and said the garageman of could positively identify McCoin man who stored the there last Saturday night. Thinks Letter Authentic Wester said vinced letter from Chicago, signed boy distress, received Chief Justice Walter Stacy the State Supreme Court here Monday, The "boy" the story murder "near His letter led to finding the car in ColumWester told the United News. of sedan showed had The letter one com"near Petersthe next came along order from its driver declared one of the whom had buried the body the whom had blackjacked near Petersburg for refuspay $15 declared he had established. through Maryland, young man about old, driving answerdescription McCoin's North Carolina license had spent the night west Hagerstown Friday. Hopes to Find Body Thise man, Wester carried brief similar to roadhouse Saturday, stopped filling station Hancock, Md., three miles from Hagerstown, to inquire directions Uniontown, Va., Columbus, Ohio. route, Wester, took man through the Western Maryland and Eastern From Wester McCoin's was buried in this country to find the body fore too decayed this Wester said.

2. December 31, 1932 Great Falls Tribune Great Falls, MT
Article from Great Falls Tribune, December 31, 1932

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Article Text

Town Completes Successful Year Using Wooden Money to Supplant Gold and Silver TENINO, Wash., Dec. Financiers snickered rudely when this town deserted the gold, silver and paper-money standards alike year ago and doing business with bits of wood. heh,' chuckled D. M. Major of the Tenino chamber today, thus proving that old adage about the last laugh. For Tenino has not only done business as usual for 12 months on wooden money, but some $3,500 of United States currency paid by souvenirhunters over the for the wooden dollars reposes in the chamber of commerce treasury. The chamber today was negotiating to buy the closed Citizens' Bank building equipment with the 500 and open new bank. It had the good wishes of the state banking department. Any concern that can make neat profit on wooden money should be able to run regulation bank, state examiners opined. little wooden and halfdollars, slabs on which promises were were issued on the of depositors of onefourth their frozen capital when the Citizens' bank closed 12 months ago Folks all over the nation grinned when they heard the town that bought things with wooden moneybut they bought the wooden slabs as curios themselves and failed to redeem them. Banks all over the nation honored the slices of Douglas fir when they were giving depositors in the closed bank full use of their But the town profited chiefly when people in Chicago, Peoria and Albuquerque kept the slabs instead of demanding money.

3. December 31, 1932 Tulare Advance-Register Tulare, CA
Article from Tulare Advance-Register, December 31, 1932

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Article Text

COAST TOWN MAKES $3,500 ON WOOD MONEY, HAS LAST LAUGH TENION, Wash., Dec. 31. (UP) when this town deserted the gold, alike a year ago and commenced of the Tenino chamber of commerce today, thus proving that old adage about the last laugh. For Tenino has not only done business as usual for 12 months on wooden money, but some $2,500 of United States currency paid by souvenir-hunters over the nation for the wooden dollars reposes in the chamber of commerce treasury. The chamber today was negotibank building and equipment with had the good wishes of the It fit on wooden money should be able to run a regulation bank, state examiners opined. The little wooden dollars and half-dollars, slabs on which redemption promises were printed, were issued on the assignment of depositors of one-fourth their frozen capital when the Citizens' bank closed 12 months ago. Folks all over the nation grinned when they heard of the town that bought things with wooden money-but they bought the wooden slabs as curios themselves and failed to redeem them. Banks all over the nation honored the slices of doiglas fir when they were presented, giving depositors in the closed bank full use of their frozen deposits. But the town profited chiefly when people in Chicago, Peoria and Abluquerque kept the slabs instead of demanding money.

4. December 31, 1932 The Pasadena Post Pasadena, CA
Article from The Pasadena Post, December 31, 1932

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Article Text

Washington Town Shows Profit On Wooden Money, Plans To Open New Bank Wash., Dec. 30. (U.P.) Financiers snickered rudely when this town deserted the gold, silver and standards alike and commenced doing with bits of wood. chuckled M. Major of the Tenino Chamber Commerce today. thus proving that adage about the last laugh Tenino not only done For business usual twelve months but some $3500 wooden money, United States paid hunters the nation souvenir the Chamber treasury. To Open New Bank The chamber today was negotiat- to buy the closed Citizens' Bank building and equipment with the $3500 and bank open had the good wishes the state banking department. Any concern that make neat profit on wooden money should be able regulation bank, state examiners opined. The little wooden dollars and slabs on which demption promises were printed. were issued the assignment depositors one-fourth their frozen capital when Citizens' Bank closed twelve months ago. Kept as Souvenirs Folks over the nation grinned when they heard the town that bought things with wooden money they bought wooden curios themselves and failed redeem them. Banks all over the nation honthe slices of douglas fir when they were presented, giving deposin the closed bank their frozen deposits. the town profited chiefly when people Chicago, Peoria and the slabs instead of kept manding money.

5. December 31, 1932 The News and Observer Raleigh, NC
Article from The News and Observer, December 31, 1932

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Article Text

Community in Washington Can Reopen Bank On Funds From Souvenir Sales Tenino, Wash., Dec. Financiers chuckled year ago when Tenino deserted gold, silver and standards and began doing business wood. Major, Tenino chamlistened naturedly while the rest the world snickered, and waited his turn chuckle. came today and when did didn't chuckle all-he laughed right out The reason only has Tenino been doing business usual for months wooden money, some $3,500 United States paid by hunters nation for the wooden dollars' rests in the commerce treasury. With this achievement record hind today started negotiating the closed CitiBank building and with its $3,500. bank. has the good wishes state that net profit should regulation bank, state examinThe little wooden dollars and half dollars, slabs redemption promises were printed, were issued the their frozen capital when the Citizens' bank closed 12 months Banks all over the nation honored the slices Douglas when they depositors the bank their frozen But the prof. chiefly people Chicago, Peoria instead of demanding money.

6. December 31, 1932 Daily News Los Angeles, CA
Article from Daily News, December 31, 1932

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Article Text

Closed Bank to Be Bought With Money Received From Wooden Cash Souvenir Sale TENINO. Wash., Dec. 30.-U.P-Financiers snickered rudely when this town deserted the gold, silver and paper money standards alike a year ago and commenced doing business with bits of wood. "Heh, Heh," chuckled D. M. Major of the Tenino Chamber of Commerce today, thus proving that old adage about the last laugh. For Tenino has not only done business as usual for 12 months on wooden money, but some $3500 of United States currency paid by souvenir-hunters over the nation for the wooden dollars reposes in the Chamber of Commerce treasury. The chamber today was negotiating to buy the closed Citizens Bank building and equipment with the $3500 and open a new bank. It had the good wishes of the state banking department. Any concern that can make a neat profit on wooden money should be able to run a regulation bank, state examiners opined. The little wooden dollars and half-dollars, slabs on which redemption promises were printed were 13sued on the assignment of depositors of one-fourth their frozen capital when the Citizens bank closed 12 months ago. Folks all oyer the nation grinned when they heard of the town that bought things with wooden money -but they bought the wooden slabs as curios themselves and failed to redeem them. Banks all over the nation honored the slices of Douglas fir when they were presented, giving depositors in the closed bank full use of their frozen deposits. But the town profited chiefly when people in Chicago, Peoria and Albuquerque kept the slabs instead of demanding money.

7. December 31, 1932 The Long Beach Sun Long Beach, CA
Article from The Long Beach Sun, December 31, 1932

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Article Text

Wooden Money Experiment Goes Shows Wash., Dec. Financiers snickered this town deserted the gold, and standards year ago and commenced doing business with of wood chuckled Major of the Tenino Chamber of today, thus that old about the last adage laugh. For Tenino has not only done usual for wooden but $3500 United States paid hunters the nation for the wooden dollars reposes in the Chamber of The today negotiating buy the closed Citizens Bank and equipment with the $3500 and open new bank. had the good wishes of the State Banking Department. Any concern that make neat on wooden money should to regulation bank, State examiners opined. The little wooden dollars and slabs on which demption promises were printed. assignment depositors their frozen capital when the Citizens' Bank closed twelve Folks all grinned they heard of the town that bought things with wooden money but they bought the slabs curios themselves and failed to them. Banks over the Nation honored the slices Douglas fir when were presented, giving depositors in the closed bank full of their frozen deposits. But the town profited chiefly when people Chicago, Peoria and Albuquerque kept slabs demanding money.

8. January 1, 1933 The Billings Gazette Billings, MT
Article from The Billings Gazette, January 1, 1933

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Article Text

WOODEN MONEY BACK TO GOLD NOW By CLEVELAND WILLIAMS, (Associated Press Staff Writer). ENINO, Wash., Dec. 31.-(A.P.)-They won't take wooden money in Tenino any more. With the first business day of the new year Tenino goes off the wood standard and back to the gold standard-and the last day for redemption of this town's world-famous wooden has money passed. It only cost the chamber of com- bank, failure of which came near merce redeem the $6,500 in ruining Tenino, and the town will wooden it issued to bring be ready to do business there when the out financial chaos the passes branch after failure of its only bank, be- banking law. souvenir C. Argo, president of the chamdealers throughout the world are ber, recalled the earlier in the keeping the balance. year, when the bank failure froze With the profits of its renowned tight the assets of the community. venture into high finance the champaralyzing ber Saturday announced com"What to do?" business men said, pleting deal to buy the building fixtures of the defunct Citizens (Continued on Page Column 8.)

9. January 2, 1933 The Reidsville Review Reidsville, NC
Article from The Reidsville Review, January 2, 1933

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Article Text

WOODEN chuckled ago when deserted the gold, and and began with bits of Major, the Tenin chamlistened goodthe rest of the and waited his chuckle. came today and when did chuckle laughout loud doing for 12 months money but some States paid bunters over the for the wooden dollars rests chamber commerce treas- record today started the closed Citibuy Bank and equipment plans the good wishes banking make should regulation state wooden dollars and slabs which were printed assignment their frozen the Citizen's closed months Banks Douglas fir when presented deposiclosed bank frozen deposits But the chiefly when people kept the instend que manding