Citizens Bank (Plattsmouth, NE)

Episode Information

Episode Type
Suspension → Closure
Start Date
September 10, 1894
Location
Plattsmouth, Nebraska (41.011, -95.882)
Bank Type
trust

Metadata

Episode ID
Bank ID
City ID
310832160
Model
gpt-5-mini
Short Digest

Events (2)
1. September 10, 1894 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Inability to realize on securities leading to insolvency/illiquidity
Newspaper Excerpt
The Citizens' bank failed to open its doors today. ... the stockholders ... asked that the bank be closed
Source
newspapers
2. September 10, 1894 Receivership
Newspaper Excerpt
the stockholders ... asked that Charles C. Parmalee be appointed receiver. The judge issued the order.
Source
newspapers

Newspaper Articles (10)
1. September 11, 1894 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, September 11, 1894

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Article Text

Nebraska Bank Closed. PLATTSMOUTH, Neb., Sept. 10.-The Citizens' Bank failed to open its doors today. An hour later the stockholders of the bank went before Judge Chapman and asked that the bank be closed, and that Charles C. Parmalee be appointed receiver. The Judge issued the order. The cause of the failure is supposed to be inability to realize on securities. The stocholders are mostly wealthy men. W. H. Cushings, a brother of R. C. Cushings, ex-Mayor of Omaha, was president of the bank. The capital stock was $100,000; liabilities, $92.000; assets, $142,000. The failure involves about $200,000, all well se ared with notes of wealthy farmers, who are merely temporarily embarrassed.

2. September 11, 1894 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, September 11, 1894

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Article Text

NEBRASKA BANK CLOSES. Failure Due to Inability to Realize on Securities. Plattsmouth, Neb., Sept. 10.-The Citizens bank failed to open its doors today. An hour later the stockholders of the bank went before Judge Chapman and asked that the bank be closed and that Charles C. Parmalee be appointed receiver. The judge issued the order. The cause of the failure is supposed to be inability to realize on securities. The stockholders are mostly wealthy men. W. H. Cushing, a brother of R. C. Cushing, ex-mayor of Omaha, was president of the bank. The capital stock was $100,000; liabilities, $92,000: assets, $142,000. The failure involves about $200,000, all well secured, with notes of wealthy farmers who are merely temporarily embarrassed.

3. September 12, 1894 The Indiana State Sentinel Indianapolis, IN
Article from The Indiana State Sentinel, September 12, 1894

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Article Text

BANK CLOSES ITS DOORS. The Citizens' of Plattsmouth, Neb., Involved for $200,000. PLATTSMOUTH, Neb., Sept. 10.-The Citizens' bank failed to open its doors today. An hour later. the stockholders of the bank went before Judge Chapman and asked that the bank be closed and that Charles C. Parmalee be appointed receiver. The judge issued the order. The cause of the failure is supposed to be inability to realize on securities. The stockholders are mostly wealthy men. W. H. Cushings, a brother of R. C. Cushings, ex-mayor of Omaha, was president of the, bank. The capital stock was $100,000; liabilities, $92,000; assets, $142,000. The failure involves about $200,000, all well secured with notes of wealthy farmers, who are merely temporarily embarrassed.

4. September 12, 1894 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, September 12, 1894

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Article Text

A Nebraska Bank Insolvent. PLATTSMOUTH, Neb., Sept. 10.-The Citizens' bank failed to open its doors today. An hour later stockholders of the bank before Judge Chapman asked that the bank be closed and Charles B. Parmelee appointed receiver. The judge issued the order. The cause of the failure 18 supposed to be inability to realize on securities. The stockholders are mostly wealthy men. W. H. Cushing, a brother of R. C. Cushing, ex-mayor of Omaha, was president of the bank. The capital stock was $100,000, liabilities $92,000, assets $142,000. The failure involves about $200,000, all well secured with notes of wealthy farmers, who are merely temporarily embarrassed.

5. September 15, 1894 The Caldwell Tribune Caldwell, ID
Article from The Caldwell Tribune, September 15, 1894

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Article Text

BANK FAILURE. The Citizens' Bank of l'lattam uth, Neb., in a Receiver's Hands. PLATTSMOUTH, Neb., Sept. 10.-The Citizens' bank failed to open its doors today. An hour later the stockholders went before Judge Chapman and asked that the bank be closed and that Charles C. Parmalee be appoluted receiver. The judge issued the order. The cause of the failure is supposed to be inability to realize on securitiesThe capital stock was $100,000; liabilities, $92,000; assets, $142,000. The failure involved about $200,000, all well secured with notes of wealthy farmers, who are merely temporarily embarassed.

6. September 15, 1894 The Kootenai Herald Bonners Ferry, Kootenai, ID
Article from The Kootenai Herald, September 15, 1894

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Article Text

BANK FAILURE. The Citizens' Bank of Plattsmouth, Neb., in a Receiver's Hands. PLATTSMOUTH, Neb., Sept. 10.-The Citizens' bank failed to open its doors today. An hour later the stockholders went before Judge Chapman and asked that the bank be closed and that Charles C. Parmalee be appointed receiver. The judge issued the order. The cause of the failure is supposed to be inability to realize on securitiesThe capital stock was $100,000; liabilities, $92,000; assets, $142,000. The failure involved about $200,000, all well secured with notes of wealthy farmers, who are merely temporarily embarassed.

7. February 11, 1896 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, February 11, 1896

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Article Text

Want a Receiver Removed. PLATTSMOUTH, Neb., Feb. 10.-(Special.) -A petition was filed in district court today by Justice G. Richey, A. B. Taylor and D. O. Dwyer asking District Judge Ramsey to remove Charles C. Parmele as receiver of the defunct Citizens' bank of this city. The petitioners are stockholders and allege that Parmele's position as receiver of the bank is very detrimental to the interests of the creditors and depositors.

8. May 1, 1896 The Red Cloud Chief Red Cloud, NE
Article from The Red Cloud Chief, May 1, 1896

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Article Text

Rated the Farm Too High. PLATTSMOUTH, Neb., April 27.-In district court last week Judge Ramsey decided. in the plaintiff's favor, the case of Henry Eikenbary et al. vs. the Citizen's bank of Plattsmouth. This was an action brought by some of the depositors to set aside a settlement between the bank's receiver and Michael and Susan Morrissey, wherein the latter were to receive some $3,000 above the bank's mortgage against the Morrissey farm. It is claimed that the property was rated at about $8 an acre more than it would bring at a sale. The depositors estimate their saving, by the court's decision. at $5,000.

9. August 13, 1896 The Valentine Democrat Valentine, NE
Article from The Valentine Democrat, August 13, 1896

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Article Text

AIDS A DEFUNCT BANK. Plattsmouth Institution Promised Help from Unexpected Sources. W. H. Cushing, the cashier of the defunct Citizens' Bank, has notified friends in Plattsmouth that he has realized handsomely on some mining investments and that he intends to liquidate the liabilities of the bank and then take full charge of the affairs of the institution. The bank closed its doors September 8, 1894, with liabilities of over $70,000 and assets of equal amount, but of slow and difficult collection. A receiver, Charles C. Parmele, was appointed and the affairs are in process of liquidation, but owing to dissatisfaction among some of the depositors a good deal of litigation has ensued. There are 163 depositors, some of whom have all their savings locked up, and this good news will be a Godsend to them.

10. February 1, 1899 Arizona Weekly Journal-Miner Prescott, AZ
Article from Arizona Weekly Journal-Miner, February 1, 1899

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Article Text

Richard c. Cushing Fails. Richard C. Cusbing will be well remembered by citizens of Prescott and vicinity as having been engaged in mining operations here a few years ago. A Chicago telegram of January 26, says: Richard C. Cushing, a contractor, today filed a petition in bankruptcy scheduling liabilities amounting to $328,245. His assets are placed at $39,000. The petitioner was a member of the Mallory-Cushing Contracting Company of Omaba. Some of the largest creditors are: Chas. J. Lantry, Strong City, Kan., $47,000; Chas. Parmalee, receiver of the Citizens Bank, Platts mouth, Neb., $10,000; T. A. McGauge, receiver of the German Savings bank of Omaha, $30,000. The property which is included in the assets of the petitioner is situated in Omaha, San Antonio, Texas, Kern county, Cal., and Scott county Neb. The largest secured creditor is the Nebraska National Bank of Omaha, $63,000.