23216. Citizens State Bank (Sheridan, WY)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
May 1, 1924*
Location
Sheridan, Wyoming (44.797, -106.956)

Metadata

Model
gpt-5-mini
Short Digest
6a10f8ad

Response Measures

Full suspension, Books examined

Description

May 1924 run driven by wild rumors and gossip; bank closed its doors to stop the run. A receiver was appointed June 25, 1924 (court action). The bank did not reopen as a going concern; later receiver payments (dividend) were made in 1925. OCR variations in articles: bank appears as Citizen's Bank and Citizens' State bank — standardized to Citizens State Bank.

Events (4)

1. May 1, 1924* Run
Cause
Rumor Or Misinformation
Cause Details
Heavy withdrawals provoked by wild rumors and gossip alleging troubles; article states examination would show bank solvent.
Measures
Closed its doors to stop the run; bank temporarily ceased payments/operations.
Newspaper Excerpt
The Citizen's Bank of Sheridan closed its doors last week to stop a run which was being made on the institution, said to have been caused by wild rumors and gossip.
Source
newspapers
2. June 25, 1924 Receivership
Newspaper Excerpt
Tilden A. Morris was named receiver of the Citizen's State Bank here by Judge James A. Burgess. The receiver's bond was fixed at $25,000. The American Surety company has the bond.
Source
newspapers
3. June 25, 1924 Suspension
Cause
Government Action
Cause Details
Court-appointed receiver following petitions (including by the attorney general) after depositors and stockholders requested appointment.
Newspaper Excerpt
Tilden A. Morris was named receiver of the Citizen's State Bank here by Judge James A. Burgess.
Source
newspapers
4. March 25, 1925 Other
Newspaper Excerpt
The Citizens bank of Sheridan, which closed its doors last May, will pay its first dividend of 10 per cent to the general claimants of the institution. The payments will amount to $34,613.69 ... T. A. Morris is receiver of the institution and the payment of the dividends has been delayed by suits against the institution.
Source
newspapers

Newspaper Articles (4)

Article from Park County Herald, May 28, 1924

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Article Text

SHERIDAN BANK CLOSES The Citizen's Bank of Sheridan closed its doors last week to stop a run which was being made on the institution, said to have been caused by wild rumors and gossip. It is stated that the examination will show the bank in a solvent condition, and no losses are expected to be caused the depositors.


Article from The Cody Enterprise, June 25, 1924

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Article Text

Receiver Appointed For Sheridan Bank Sheridan, Wyo.-Tilden A. Morris was named receiver of the Citizen's State Bank here by Judge James A. Burgess. The appointment was made after a large number of depositors and stockholders of the bank had asked for his apointment. L. J. O'Marr is the attorney for the receiver. The receiver's bond was fixed at $25,000. The American Surety company has the bond. Petitions upon the relation of David J. Howell, attorney general, against the Clearmont State Bank of Clearmont and the Citizen's State Bank of Sheridan, corporations, asked the court to appoint a receiver in both cases were filed in the clerk's office Thursday afternoon by the attorney general and Metz, Sackett and Metz, local attorneys. Stockholders of the Clearmont bank are endeavoring to reorganize that bank.


Article from Park County Herald, March 25, 1925

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Article Text

Bank Thief Escapes Again J.C. Whitehead, the bank robber who was captured in Wyoming several weeks ago after having robbed a bank in Oklahoma, is reported to have again escaped from the officers. He was apprehended at Casper, after being trailed thru Cody, and was taken to Cheyenne for extradition. According to the report, Whitehead escaped from jail at Sapulpa, Oklahoma, with three other prisoners, by prying the bars loose on their cells. Falls Through Casper BridgeWilliam Mahoney, 23 years of age, fell through the Chicago & Northwestern bridge at Casper last week and received an injury on his head that must have caused his death almost instantly. The body was found several hours after the young man met his death, and as there were no trains over the line, or no evidence of foul play, it was presumed that he stepped through the bridge in the darkness and fell to his death below. Pickling Station at Lovell-According to the Lovell Chronicle the Heinz Pickle company will erect a salting plant at that place in the near future and contracts have already been signed up by a sufficient number of farmers to guarantee its operation in that community. The pickles are harvested in midsummer and delivered to the factory, where a daily cash payment is made upon delivery. In Colorado, where the industry has been tried out, as high as $300 per acre has been realized through the growing of cucumbers for pickles. Elected President of Cosmopolitan Dr. G. S. Barger has been selected as president of the Cosmopolitan club of Casper, and will be a delegate to the convention of the national clubs at Tulsa, Oklahoma, in June. Dr. Barger has an extensive practice in the Big Horn basin and resides at Casper. Sheridan Bank Pays 10 Per Cent The Citizens bank of Sheridan. which closed its doors last May, will pay its first dividend of 10 per cent, to the general claimants of the institution. The payments will amount to $34,613.69, and a payment of $1,455, preferred claims will also be made. The total amount of claims filed against the bank is $347,592.29. T. A. Morris is receiver of the institution and the payment of the dividends has been delayed by suits against the institution. Newcastle Man Suicides - Nels Lundberg, a resident of Newcastle, committed suicide last week by blowing the top of his head off with a high-power gun. Ill health and despondency is said to have been the cause for his act. He is survived by a wife and four children. Sheriff Kills Man-J. L. McQuire, of Casper, an alleged bootlegger, was killed at Lingle by Oliver Collier, sheriff of Goshen county. According to newspaper reports McGuire had just entered Lingle with a load of whiskey and had been arrested by Collier. The shooting is thought to have been accidental.


Article from The Cody Enterprise, April 8, 1925

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Article Text

LATE NEWS From Over WYOMING Mrs. Carmen Perez, who has been fugitive from justice for four years, si been arrested at Laramie, Wyo., di returned to Cheyenne to face an dictment charging that she entered alse indemnity claim for a registered ter. A dividend of 10 per cent-amount! *0 a total of $34,613,69-will be id on the general claims against the funct Citizens' State bank, it was nounced in Sheridan by T. A. Mor, receiver for the institution which sed its doors last May. The Elk Basin Sheep company is the est livestock company to establish headquarters in Kemmerer, accord: to articles of incorporation which re filed with the secretary of state Cheyenne last week. The company incorporated for $150,000. Accidentally shot down by the hired in. Mrs. Dani Smith. wife of Louis ith, of the Green mountain district, ed at the ranch home before medical 1 could be obtained. Martin Border n. the hired man, was cleaning a reIver which he thought was empty. Natrona county commissioners have proved the petition of residents of - town of Salt Creek on the Up & wn railroad for incorporation. They ve appointed C. T. Garvey, C. H. rritt and Henry Baker inspectors to aduct the election which will be held April 6. 1925. All bona fide elecs of the town on that date will be gible to vote. The southern Wyoming mining diset shows a decrease of 661.000 tons coal production for 1924, as comred with the tonnage for 1923, acrding to a preliminary report made blic by District Mine Inspector Patson. The production from the four inties of Carbor Sweetwater, Linin and Uinta, which compose the 'suoi SUM the No radical changes in the airmall vice at the Rock Springs airmail Id are proposed, according to a letreceived in Rock Springs from Surintendent Egge of Omaha. The ter was in response to a telegram it by a Lions Club committee. when was rumored here that a plan was ing worked out to make Rock rings a flight stop only. The Wyoming Coal League will open season on May 17. It was announced Rock Springs recently, with six ibs in the pennant race. Rock rings, Superior, Reliance, Winton. nes and Sweetwater have agreed to ice teams in the race. The season 11 close on August 30, in order that el champions of the league may paripate in one or more baseball tourments in the early fall. John Boylan and Victor Leonard. o escaped from the county jail at ramie where they were being held default of $500 bail for the theft of eep pelts from Lee Hart, which