Citizens National Bank (Chillicothe, MO)

Episode Information

Episode UID
411101582
Episode Type
Run Only
Bank Type
national
Bank ID
41110 national
Charter Number
4111
Start Date
October 12, 1931
Location
Chillicothe, Missouri

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0d2ca6c04ab8e610

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Fed/other loan, Public signal of financial health, Capital injected, Books examined

Events (2)

1. September 3, 1889 Chartered
Source
historical_nic
2. October 12, 1931 Run
Cause
Local Banks
Cause Details
Run triggered by closing of the Farmers & Merchants Bank in Chillicothe and resulting depositor panic.
Measures
Examination by Commerce Trust representative; Federal Reserve and correspondent banks offered funds; bank closely guarded; payments made to withdrawers.
Newspaper Excerpt
The Citizens National Bank Stands Strain of Light Run From Depositors. ... Depositors were paid during and night ... We told Chillicotheans deposited over $30,000 in Citizens Bank.
Source
newspapers

Newspaper Articles (3)

Article from The Braymer Bee, October 14, 1931

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Article Text

ANOTHER CHILLICOTHE BANK CLOSES The Farmers and Merchants Bank Closes Monday Noon After Slow Run persistent run of about resulted closing of the Farmers Merchants Bank Monday This leaves Chillicothe with only one the Citizens National for the run the bank's supply of ready cash the Chillicothe Constitution. of the directors said the had been but that the the part of the public since First tional had steady drawal of Even the general of the that the will The assets are of more than value the of all deposits The discussing the re-opening of the institu but probably decision will made until after the bank's fairs are checked by the state department. have been hard hit by bank failures recent times We understand that there are now only three banks in the county Farmers Ludlow, the Community Bank and Citizens National at Chillicothe Following the close of the Farmers and Merchants Bank run was on Citizens National Depositors were paid dur ing and night Fred vice president of the Commerce Trust Kansas City, arrived in Chillicothe and spected the bank found the institution in excellent condition merchants men to show their faith made many heavy deposits business being transacted fast that was necessary to form two lines, other drawing wasn't until line withdrawers meltWe told Chillicotheans deposited over $30,000 in Citizens Bank. Tuesday One lady, uneasy about her savings, withdrew $500 in currency and took it to the to deposit in the postal savings department. She asked the postmaster what he would do with money. and seemed distracted when he told would in the bank. She told him she had just taken out of the bank. informed her it was Uncle Sam's money, and Uncle Sam keeps his money in the bank. CARD OF THANKS We wish take this means of thanking and friends their many acts of kindness during the and after the death of our husband father and brother Hampton Mr. Mrs Wetzel Mr. and M Hampton Mrs. Nelle Brown


Article from The Milan Standard, October 15, 1931

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Article Text

CHILLICOTHE FARMERS & MERCHANTS BANK CLOSED DOORS MONDAY The Citizens National Bank Stands Strain of Light Run From Depositors. Nervous depositors who became panicky following the closing of the Farmers and Merchants Bank here yesterday afternoon, started a run on the Citizens National Bank, which lasted until closing time. With the opening of the bank this morning it was soon filled with customers, but the majority of them were making deposits instead of withdrawing their money. Directors of the bank stated at noon that the deposits almost equaled yesterday's withdrawals. Those who went to the bank yesterday and this morning to withdraw their accounts were quickly and courteously served. When others saw that the bank had sufficient money on hand to meet the demand, the crowd which filled the sidewalks on either side of the entrance drifted away and conditions became normal about noon. The officers and directors of the bank were not alarmed when the run started, as the bank is perfectly sound, owes no money and has unlimited credit. Fred Brady of the Commerce Trust Company, who came here last night to examine the bank, stated this morning that he had found the bank solvent, and that the Federal Reserve bank, the Commerce Trust Company, and the National Bank of Commerce in Kansas City had voluntarily offered unlimited funds to the Citizens National Bank here because of its splendid condition. The Citizens Bank is being closely guarded on account of the large amount of money brought here this morning in case a heavy run was made on the bank. The closing of the Farmers and Merchants Bank came as a result of lack of confidence in the institution and a slow run that has been in progress for almost a week. Directors say that the lack of confidence was groundless, the bank having been pronounced satisfactory by inspectors. (Continued on Page Eight).


Article from Mound City News-Independent, March 9, 1933

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Article Text

CITIZENS CALM DURING EMERGENCY Exchange Bank Suspended Operations In Conformity Presidential Proclama- tion. The Banks of Holt County suspended normal morning to conform Saturday with state wide holiday order a issued by Governor Guy Park. for Since that time President of Roosevelt has issued a proclamation all the banks closing the United States for a period ending Friday, March 10. The local banks have followregulations ordering them laid down by the secreclose, of the treasury. Some have tary remained open during regular hours for the purpose banking of making change. There is no cause for any alarm the local regarding tion as all the Holt County banks are believed to be in cellent condition. has been convened Congress special session beginning today (Thursday) and acnoon cording to radio reports have legislation conferring passed extraordinary to Presipowers dent Roosevelt, trol all banks until this emeris safely past. The spirit fortitude and patience with which the people this community and the tire has reacted to the country bank holiday, has emergency been surprising. individuals and busiMany houses found themselves ness with small amount of only hand when the currency on bank went into effect. holiday St. Business has been retarded to extent. Merchants some most cases have accepted checks for the exact amount but have been purchases tant to let loose of any currenor silver in change. Bank here The Exchange to be strong as known is anywhere, and bank there must be attributed its closing solely to the the nation. ditions throughout thing that Now the only to await the order to with patience banks after the the open and regulational adjustments formulated and tions have been issued.