23000. Citizens Bank (Beckley, WV)

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
state
Start Date
January 22, 1908
Location
Beckley, West Virginia (37.778, -81.188)

Metadata

Model
gpt-5-mini
Short Digest
6f74a97c

Response Measures

Full suspension, Books examined

Other: Placed in charge of Banking Commissioner; directors attempting to arrange resumption.

Description

Multiple contemporaneous articles (Jan 22–30, 1908) report a depositor run that caused the Citizens Bank at Beckley to close and be placed in charge of the state Banking Commissioner. Officers and directors described the suspension as temporary and sought arrangements to resume, but no clear reopening date is reported in these items; thus outcome is uncertain.

Events (3)

1. January 22, 1908 Run
Cause
Rumor Or Misinformation
Cause Details
Rumors circulated about the cashier's absence and wild stories that renewed a previous small run, draining available cash below legal reserve.
Measures
Cashier went to Richmond to obtain cash; directors tried to arrange matters to resume; bank placed in charge of Banking Commissioner Matthews.
Newspaper Excerpt
It is said a run made by depositors caused the suspension.
Source
newspapers
2. January 22, 1908 Suspension
Cause
Rumor Or Misinformation
Cause Details
Closed after depositor run (fueled by rumors and stories about the cashier's actions) left available cash below legal reserve; placed in hands of state banking commissioner as a result.
Newspaper Excerpt
The Citizens' Bank at Beckley ... closed its doors today and is in charge of Banking Commissioner Sam V. Mathews.
Source
newspapers
3. January 30, 1908 Other
Newspaper Excerpt
The suspension of the Citizens' Bank of Beckley ... is reported to be only temporary by the officers.
Source
newspapers

Newspaper Articles (10)

Article from New-York Tribune, January 23, 1908

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Article Text

WEST VIRGINIA BANK CLOSED. Huntington, W. Va., Jan. 22.-The Citizens' Bank at Beckley, near here. closed its doors to-day. and is in charge of Banking Commissioner Matthews. It is said a run made by depositors caused the suspension. The capital stock is $100,000.


Article from Daily Press, January 23, 1908

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Article Text

Huntington, W. Va., Bank Fails. HUNTINGTON. W. VA. Jan. 22The Citizens bank at Beckley. near here. closed its doors today and is in charge of Banking Commissioner Sam V. Mathews. It is said a run made bv the depositors caused the suspension. The capital stock is $100,000.


Article from The Montgomery Advertiser, January 23, 1908

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Article Text

West Virginia Bank Closes. Huntington, W. Va., Jan, 22.-The Citizens' Bank at Beckley, near here, closed its doors today and is in charge of Banking Commissioner Sam V, Matthews. It is said a run made by depositors caused the suspension. The capital stock is $100,000.


Article from The Daily Sentinel, January 23, 1908

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Article Text

RUN ON A BANK (By Associated Press.) Huntington, W. Va., Jan. 23.--The Citizens' Bank at Beckley, near here, closed its doors yesterday and is in charge of the banking commissioners. It is said that a run made by depositors caused the suspension. The capital stock of the bank is $100,000.


Article from Bluefield Evening Leader, January 23, 1908

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Article Text

CITIZENS BANK STILL CLOSED BECKLEY INSTITUTION SOLVENT, BUT CANNOT RAISE MONEY. The Citizen Bank of Beckley, which closed its doors Tuesday, is still in the hands of Commissioner Matthews. The bank had on deposit about $260,000 and in the effort to accommodate its customers its funds were loaned pretty close. A little run last week brought its available cash below the legal reserve and the cashier went to Richmond Sunday where he got enough cash, as he thought, to tide them over. Rumors of his absence got afloat, however, wild stories were circulat and on Monday the run was renewed. The directors are trying to arrange matters so that the bank may resume. The First National Bank had a small run, but it was able to meet it, and all danger is past so far as it is concerned. Its deposits amount to over $600,000, and it is regarded as one of the strongest institutions in the state.


Article from The Daily Telegram, January 23, 1908

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Article Text

BANK CLOSES HUNTINGTON, Jan. 23.-The Citizens Bank at Beckley, near here, closed its doors today and is in charge of Bank Commissioner Samuel v. Matthews. It is stated a run made by depositors caused the suspension. The capital stock is $100,000.


Article from The Calhoun Chronicle, January 28, 1908

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Article Text

The first bank in West Virginia that closed its doors on account of the present panic was the Ci-izens bank of Beckley, near Huntington, which went into the hands of Examiner Mathews last week. A run on the bank by depositors caused the trouble.


Article from Audubon Republican, January 30, 1908

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by whitecaps. Fire destroyed a baggage car containing all the baggage of a party of 100 Shriners from St. Louis, Chicago and Kansas City, returning from the City of Mexico, where they had been to institute a new organization. 91 "O Canton, JO Marlier 'V Bennte thought to be lost in the mountains near Los Angeles, Cal. He has been missing since January 15. It is announced in New York that W. D. Haywood, who was acquitted on the charge of murdering ex-Gov. Steunenberg of Idaho, will be the candidate of the Socialists for president. Nils Nielson, tender of the lighthouse on the New Haven breakwater, committed suicide by cutting his throat. He had saved many lives. Mrs. Mary Roberts Clark, a manicure, shot and killed Frank Brady, a newspaper advertising man, in the restaurant in Macy's store in New York, and then committed suicide. She was enraged because Brady had left her to make a home for his aged Gov. mother. Warner of Michigan announced that former Gov. John T. Rich had accepted an appointment as state treasurer to succeed Frank P. Glazier, who To resigned. the booming of guns and the cheers of thousands on the accompanying pleasure craft, the American warships sailed from Rio Janeiro, bound for Punta Arenas. The Michigan constitutional convention committee on elections unanimously reported out a proposal granting women suffrage, with a recommendation that it be passed. Judge Phillips at Cleveland, O., in deciding the case against the Amalgamated Glass Workers' union held that the organization was in restraint of trade and ordered its dissolution on the ground of public policy. At Albuquerque, N. M., the trial of the divorce suit of Mrs. Pearl Turner against Mark C. Turner, a federal clerk, was discontinued when the court was notified by telephone that Mrs. Turner had shot and killed herself. Robert Boyd Burch of Cincinnati, member of the Junior Academic class, was elected captain of the Yale football team. The girls' dormitory of Bethany college at Bethany, W. Va., was partially destroyed by fire, a hundred girls being rescued by male students. Fire Commissioner Lantry of New York said the city's fire hose was so old and rotten they had never dared "II test 01 The secretary of the treasury announced that, owing to the great improvement in financial conditions throughout the country, he had begun the gradual withdrawal of deposits of public moneys in moderaté amounts from the national banks. The Free Methodist seminary at Wessington Springs, S. D., was destroyed by fire. The loss is $15,000. The Traders' and Mechanics' bank of Pittsburg, Pa.; the private bank of A. C. Tisdelle of Chicago, and the Citizens' bank at Beckley, W. Va., were closed. Gov. Magoon of Cuba was summoned to Washington by President Roosevelt. George R. Haynes, a judge of the Sixth judicial circuit of Ohio. died at Toledo. Arnold C. Saunders, 56 years old, a well-known coal and vessel man, died at his home in Cleveland, O., of pneumonia. Charges were filed at Charleston, W. Va., before Judge Burdette of the circuit court against Judge John S. McDonald, president of the Kanawha county court, accusing him of official misconduct, neglect of duty, habitual drunkenness and gross immorality. The Spanish minister of foreign affairs announced that the Spanish representatives in Morocco have been instructed to recognize Abd-el-Aziz as the only sovereign and that Spain regarded Mulai Hafid as a pretender. Earthquake shocks, which have caused the shutting down of the Glendon mines at Hibernia, N. J., are thought to be due to the settling of the mountain range in which the mines are situated. Socialist suffrage demonstrations in Brunswick, Germany, led to a collision with the police, in which several persons were wounded and many arrests were made. Morris J. Jessup, retired banker and long prominent in civic affairs in New York, died from heart disease. The marriage contract between Count Szechenyi and Gladys Vanderbilt provides that they shall share mutually in the proceeds of their esstates. An attempt to dynamite a loose tobacco factory at Clarksville, Tenn., resulted in the killing of two negroes by a watchman. Gov. Patterson of Tennessee commuted the death sentence of Lee Holder, aged 19, to life imprisonment. Holder, about a year ago, murdered his father. at Stamford, Conn.,


Article from The Daily Telegram, January 30, 1908

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Article Text

The suspension of the Citizens' Bank of Beckley, which closed its doors a few days ago, is reported to be only temporary by the officers.


Article from Martinsburg Herald, February 1, 1908

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racing circuit will be held at the Waldo hotel, Clarksburg, this week. John H. Dillard, member of the house of delegates from Mercer county, has announced his candidacy for the republican nomination for attorney general. From 18 inches to two feet of snow is reported from a number of the towns in the eastern mountain districts of the state. A state forestry association has been organized at Morgantown, with J. H. Stenart, director of the state experiment station, at the head. The suspension of the Citizens' Bank of Bekeley, which closed its doors a few days ago, is reported to be only temporary by the officers. The Baltimore and Ohio is again endeavoring to save the negro named Ben Maupins arrested in connection with the murder of its operator at Clarington. From Parkersburg and Grafton comes reports that the Baltimore and Ohio shops have been closed, and nothing is known as to when they will resume.