Kellogg Citizens National Bank

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 2132
Charter Number: 2132
Start Date: June 3, 1931
Location: Green Bay, Wisconsin (44.519, -88.020)

Metadata

Model: gpt-5-mini
Short Digest: ee3f6743

Response Measures

Accommodated withdrawals, Public signal of financial health, Partial suspension

Description

Following the closing of Brown County State Bank (and prior McCartney National failure) there was a near run on several Green Bay banks. Kellogg Citizens National kept its doors open 45 minutes to allow withdrawals and this action, together with public assurances and extra cash deliveries, halted the run. There is no mention that Kellogg suspended or closed.

Events (1)

1. June 3, 1931 Run

Cause: Local Banks
Cause Details: Heavy withdrawals and nervousness triggered by the closing of Brown County State Bank (and recent McCartney National failure) and related rumors about other local banks.
Measures: Kept doors open 45 minutes after closing to permit withdrawals; Green Bay Clearing House arranged 30/60/90-day notice on savings withdrawals; large shipments of cash brought in by armored trucks to counters.
Newspaper Excerpt: A near run of several banks was averted yesterday when the Kellogg Citizens' National Bank kept its doors open 45 minutes after regular closing hours to enable customers to make withdrawals if they wished.
Source: newspapers

Newspaper Articles (5)

1. June 3, 1931 Two Rivers Reporter Two Rivers, WI

Article from Two Rivers Reporter, June 3, 1931

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Article Text

NEAR RUNS ON BANKS AT BAY CITY AVERTED Civic Leaders Express Confidence in Banks With Radio Talks GREEN BAY, Wis. (AP) Runs which threatened Green Bay banks after closing of the Brown County State Bank for check by state officials today appeared halted as prominent citizens and bank officials joined, in expressing confidence in the solidarity of the institutions. Near Run Averted near run of several banks was averted yesterday when the Kellogg Citizens' National Bank kept its doors open 45 minutes after regular closing hours to enable customers to make withdrawals if they wished. The action, bank officials said, gave citizens the assurance necessary to halt the run. In radio addresses last night, A. Fontaine lawyer and politician: Dr. R. Minahan and Judge Carlton Merrill expressed their conviction that the six Green Bay banks were in sound shape and promised to deposit all their available funds in local banks as indicative of their belief. Several Start Withdrawals Several Green Bay citizens started withdrawing funds from their accounts after the Brown County Bank shut its doors. Cashier Schultz said the bank was closed merely because the directors wished an accounting result of heavy withdrawals following the closing of the McCartney Bank last Thursday An order from the Green Bay Clearing House Association, requiring from one to three months notice on withdrawal of savings deposits, today also appeared to have halted heavy run on the six local banks. More than $500,000 in currency, rushed here by armored trucks. express and parcel post from Milwaukee and Chicago, was stacked conspicuously on bank counters to lend confidence to patrons.

2. June 3, 1931 Green Bay Press-Gazette Green Bay, WI

Article from Green Bay Press-Gazette, June 3, 1931

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SUSPECTED SLAYER BEATEN AT POLLS; 67,000 VOTES Clark Trails 28,000 Behind In Los Angeles Municipal Judge Ballot. LOS he was but this the first time that have found the city sick being bound for trial on said Dr. Minahan in his talk. want to tell all Charles opening litical of you that Green the oldest city in Wisconsin. is fundamagazine mentally sound and believe in it and its people. have been ed than here resident of this city for forty years and have made my money terday his for municipal here. interested in Green Bay's welfare and know from judge defented. Complete official returns gave reliable information that this city's financial institutions are Clark votes and his sound. Charles B. MacCoy, 95,Banks Won't Be Closed 774. returns indicated he lost "The People's Savings Trust company, of which am approximately votes director and large stockholder sound as any institution Charles McCoy, candidate for reof its kind in Wisconsin. It is true that we had run there election. this afternoon. but everyone that applied got his money. The Clark. central figure in case scribed People's and Savings company will not be closed. can racketeer assure you of that. same applies to the Bank of Green raise the Bay and the Kellogg Citizens National Bank. both banks in for his which am heavily interested. Clark's did not ask the charges the "Before these institutions close every dollar of my fortune the saying felt all facts will be loaned them. The Orpheum theatre small project should brought light superior itself. is clear of indebtedness. So is the Minahan building. court. Municipal Judge Carl Sturzenacker granted him bail over will throw these properties and much again in gladly the protest Ford. bonds and mortgages into the breach save these three banks. Volunteer bondsmen were able imreliable information, understand the other banks in From mediately to raise and Green Bay are sound and that they will weather this financial efforts were continued to obtain the remaining $36,000. crisis. Two witnesses identified Clark people of Green Bay ought to some sense. There the man enter is for this hysteria. Our remaining financial instituno excuse office before and leave after the tions are trustworthy and will continue to serve the people faithshooting. fully and honestly if given half SOVIETS TO NEGOTIATE "Tuesday sent some bonds to Milwaukee and before the FRENCH TRADING PACT banks open Wednesday morning will deposit $30.000 in cash here. have this much faith in our banks, knowing the conPARIS The foreign office of the of the certainly should dition affairs rest people today reports Russian delegation arrive late this have enough confidence to deposit their money in them. Continued on Page 2, Column

3. June 3, 1931 The Sheboygan Press Sheboygan, WI

Article from The Sheboygan Press, June 3, 1931

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Article Text

Government And Our Banks Are Safe When the McCartney bank closed its doors last Thursday in Green Bay following the suicide of the president rumors were put in circulation, one of them groundless, resulting in a every the Brown County State Bank yesterday, and a near run on run the others. The Kellogg Citizens National Bank kept on its doors open minutes longer yesterday afternoon order to instill confidence, and leading business and men of that city with unlimited wealth expressed their confidence and last night went on the radio and addressed the peoof their home city. The stability of city is based on the soundness of its banks, and we can say without fear of contradiction that Green Bay is represented by banking institutions and men of the highest caliber. As near neighbor may we not urge the of that to the same degree of confidence people city express that they would show in their own business or in their own financial affairs? If the people of the United States as whole were to show lack of confidence in their government, if they were to acinstead of facts as advice, then the United States cept gossip would be at the of failure. The banks of this government point country the backbone of business stability, and if we withdraw run because of idle rumor our support or encourage then we will be wrecking our own future. Because here and there a bank is poorly managed is no reason why the people should lose confidence. Any attempt to withdraw funds from sound bank in Green Bay has a ten- (Continued on editorial

4. June 3, 1931 The Post-Crescent Appleton, WI

Article from The Post-Crescent, June 3, 1931

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Runs Halted On Banks Green Bay $500,000 in Brought to Institutions Restore Confidence Green order from the Green Bay Clearing House assoclation, requiring from to three months notice withdrawal of sav. ings deposits, today appeared halted heavy run on six local banks which followed the closing of the Brown County State bank for check state currency, rushed here by armored trucks, press parcel post from kee Chicago, was stacked spicuously on bank counters lend confidence patrons. crowds milled through the bank reading the notices posted the association members when the opened for business this morning. Disturbances nature, however, since fears depositors had been assuaged by statements of prominent and bankers confidence in the solidarity the The banks involved in the the National; Green Bay; Side State; South Side Farmers and the Savings and Officers the house for hours night and evolved plan of quiring and for notice had taken advantage demand withdrawal rented safety deposit boxes for their money accepted cashier's checks on waukee Chicago banks. Cashier Schultz of the Brown County Bank that his bank affiliated in ments with the McCartney National bank closed doors May marking the first bank failure Green Bay years. run on several banks was averted yesterday when the Kellogg Citizens' National bank kept its doors open minutes after regular closing hours to enable customers make withdrawals they wished. The tion. officers said, citizens the assurance necessary to halt the radio addresses last night, and tician, and Judge Carlton expressed conviction that Bay banks shape and deposit all available funds cal banks as indicative their lief.

5. June 3, 1931 Kenosha News Kenosha, WI

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Can Withdraw Cash Only on Given Notice Green Bay Clearing House Takes Steps to Save Six Banks Green Bay, Wis.-(P)-An order from the Green Bay Clearing House association, requiring from one to three months notice on withdrawal of savings deposits, today appeared to have halted a heavy run on six local banks which followed the closing of the Brown County State bank for a check by state examiners. More than $500,000 in currency, rushed here by armored trucks, express and parcel post from Milwaukee and Chicago, was stacked conspicuously on bank counters to lend confidence to patrons. Anxious crowds milled through the bank lobbies reading the notices posted by the association members when the banks opened for business this morning. Disturbances were of minor nature, however, since fears of depositors previously had been assuaged somewhat by statements of prominent citizens and bankers who expressed confidence in the solidarity of the institution. The banks involved in the runs are the Kellogg Citizens National; Bank of Green Bay; West Side State; South Side State; Farmers Exchange; and the Peoples' Savings and Trust Investment company. Evolve Plan at Meet association conferred for hours last night and evolved the plan of requiring 30, 60, and 90 day notices on withdrawals. Scores of depositors had taken advantage of demand withdrawal privileges, rented safety deposit boxes for their money or had accepted cashiers' checks on Milwaukee or Chicago banks. Cashier A. FV Schultz of the Brown County bank announced that his bank was affiliated in investments with the McCartney National bank which closed its doors May 21, marking the first bank failure in Green Bay in 46 years. A near run on several banks was averted yesterday when the Kellogg Citizens' National bank kept its doors open 45 minutes after regular closing hours to enable to make withdrawals if they wished. The action, bank officials said, gave citizens the assurance necessary to halt the run. Vow Faith in Banks In radio addresses last night, A. B. Fontaine, prominent lawyer and politician; Dr. J. R. Minahan and Judge Carlton Merrill expressed their conviction that the six Green Bay banks were in sound shape and promised to deposit all their available funds in local banks as indicative of their belief. Several Green Bay citizens started withdrawing funds from their accounts after the Brown County bank shut its doors. Cashier A. F. Schultz said the bank was closed merely because the directors wished an accounting as result of heavy withdrawals following the closing of the McCartney National bank last Thursday. "Circulation of groundless and vicious rumors was responsible for the depositors' uneasiness," he said. "They will not lose anything as a result of the directors' action." There is one dentist for every 1700