Citizens State Bank (San Francisco, CA)

Episode Information

Episode UID
488522591295
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
48852259 hash
Start Date
November 6, 1907
Location
San Francisco, California (37.780, -122.419)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
cb2394f44225755e

Response Measures

None

Description

The bank initially suspended during a state-declared holiday due to heavy withdrawals (run), but never reopened and was eventually placed in receivership.

Events (4)
1. November 6, 1907 Run
Cause
Macro News
Cause Details
Heavy withdrawals during the Panic of 1907 and currency stringency.
Measures
The bank resigned from the Clearing House and attempted to secure stipulations from depositors to accept time certificates.
Newspaper Excerpt
I found with our money going out at the rate it was on demand that unless conditions changed for the better we would be seriously embarrassed.
Source
newspapers
2. November 6, 1907 Suspension
Cause
Macro News
Cause Details
Suspended payment during the Panic of 1907, taking advantage of state-declared banking holidays.
Newspaper Excerpt
The Citizens state bank... closed its doors today and announced... that the bank... had decided to suspend business until the holidays declared by Governor Gillett had passed.
Source
newspapers
3. December 11, 1907 Receivership
Newspaper Excerpt
Judge Garoutt to-day took charge of the assets of the Citizens' State Bank for the State Bank Commissioners.
Source
newspapers
4. February 3, 1908 Other
Newspaper Excerpt
Frank J. Symmes, president of the Merchants association, was appointed receiver of the Citizens State bank by Judge Seawell this morning
Source
newspapers

Newspaper Articles (22)
1. November 7, 1907 The Pacific Commercial Advertiser Honolulu, HI
Article from The Pacific Commercial Advertiser, November 7, 1907

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COAST BANKS ARE FORCED TO STOP PAYMENT (Associated Press Cablegrams.) SAN FRANCISCO, November 7. -The Citizens State Bank has suspended payment temporarily. The clearing house here has issued five hundred thousand onedollar certificates to help tide over the scarcity of coin. PORTLAND TRUST COMPANY SUSPENDS. PORTLAND, Oregon, November 7.-The title Guaranty Trust Company has suspended payment. Its liabilities are two million five hundred and sixty thousand dollars and its assets three millions. GREAT CRASH IN MASSACHUSETTS. NORTH ADAMS, Mass., November 7.-The Arnold Print Works, the largest textile concern in the country, has passed into the hands of a receiver. These works employ over six thousand hands. Its liabilities are nine million five hundred thousand dollars and the claimed assets amount to fifteen million dollars. HOLIDAYS CONTINUE. SAN FRANCISCO, November -The holidays continue but all the banks are open and doing business.

2. November 7, 1907 The Bennington Evening Banner Bennington, VT
Article from The Bennington Evening Banner, November 7, 1907

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Frisco Bank Suspends. SAN FRANCISCO, Nov. 7.-The Citizens' State bank, a minor institution on Fillmore street, has suspended payment.

3. November 7, 1907 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, November 7, 1907

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CITIZENS STATE BANK OF SAN. FRANCISCO IS CLOSED By Associated Press. SAN FRANCISCO, Nov. 6.-The Citizens state bank, one of the small financial institutions of San Francisco, closed its doors today and announced through its president and principal stockholder, R. E. Ragland, that the bank has resigned from the clearing house and had decided to suspend business until the holidays declared by Governor Gillett had passed. He also declared the institution was sound and would be able to meet all its obligations if given a little time. The liabilities of the bank, according to President Ragland, are $91,000, and he placed its resources at $140,000. At the close of business on July 31 last the report made by the bank showed resources of $198,315.17. Its liabilities at that time in the form of deposits were given at $135,870.81. President Ragland said: "In justice to the bank I found it necessary to close the doors of the institution during the continuance of the holidays. I found with our money going out at the rate it was on demand that unless conditions changed for the better we would be seriously embarrassed. We are perfectly sound and if given two weeks will be able to meet all liabilities we have outstanding." The bank resigned from the Clearing House association at the close of business last Monda afternoon. Bankers throughout the city today reported a decided improvement in the financial situation. Growing confidence was apparent and the banking business was more brisk. The subtreasury was authorized to cash checks and drafts drawn upon other subtreasuries until further orders, provided that it is shown that the banks collecting the checks or drafts are responsible. The Clearing House association held a meeting this afternoon and decided to at once issue $500,000 in clearing house certificates of the denomination of $1. This, it is believed, will be greatly in aid of the small retail business while the present currency stringency lasts.

4. November 7, 1907 The Hawaiian Star Honolulu, HI
Article from The Hawaiian Star, November 7, 1907

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FOREIGN NEWS BY CABLE SAN FRANCISCO, Nov. 7-The Citizens State Bank has suspended payment temporarily. The clearing house here has issued five hundred thousand one-dollar cert ficates to help tide over the scarcity of coin.

5. November 7, 1907 The Lake County Times Hammond, IN
Article from The Lake County Times, November 7, 1907

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SOME BUSINESS DIFFIC ULTIES Receiver for the Arnold Print WorksBank Concerns Close. Boston, Nov. 7.-Declared to be perfectly solvent, but unable to renew mautring loans held by savings banks, the Arnold Print works at North Adams are in the hands of a receiver. The concern employs 6,000 men. The sole cause of the receivership was the present financial stringency. The company has a large number of contracts in process of manufacture on which collections would be made in the ordinary course of business at the end of the next three or four months. The corporation has liabilities of $9,500,000 and assets estimated at $15,000, 000. Buffalo, N. Y., Nov. 7.-Judge Hazel has appointed as receivers of the New York State Steel company Spencer Kellogg. George Urban, Jr., and Adolph Rebadow. A statement was given which says: "Owing to the severe stringency now existing in the business world it has been deemed best to conserve the interests of all to have a temporary receiver appointed for New York State Steel company. While the company is perfectly solvent, yet such action has been taken, which Is but temporary." Portland. Ore., Nov. 7. -- The Title Guarantee and Trust company, of this city. has passed into the hands of a receiver. The complainant says the liabilities of the concern are $2,640,000 and the assets $2,500,000. San Francisco, Nov. 7.-Taking ad. vantage of the bank holidays declared by Governor Gillette the Citizens' State bank. at 1445 Fillmore street. has stopped paying. The doors of the bank are not closed. but no money is received or paid out. Not being in the Clearing House the bank had to settle its balances in gold. and was being rapidly drained, so that it was deemed best by the board of directors to avail themselves of the holiday.

6. November 8, 1907 Albuquerque Morning Journal Albuquerque, NM
Article from Albuquerque Morning Journal, November 8, 1907

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CALIFORNIA SITUATION SHOWS IMPROVEMENT Suspended San Francisco Bank Expoets to Re-open-Money Supply Increasing. San Francisco, Nov. 7.-A decided improvement was experienced today in financial circles, Money was more plentiful than it has been for the last five days. Another flood of gold was turned into the city from the subtreasury today. $830,000 being paid out before noon. This large sum came from New York and nine-tenths of it was for banks in this city. The rest, in small amounts. went to banks in Stockton, Sacramento, Oakland. Everett, Wyo., and Ogden. Utah. The officers of the California Safe and Trust company conferred with Bank Commisioner Garoutte today. but would give out no statement. The impression prevailed that the institution will soon re-open. The Citizens State Bank. which closed its doors wasterday, expects to re-open on Monday.

7. November 9, 1907 The Free Lance Fredericksburg, VA
Article from The Free Lance, November 9, 1907

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Frisco Bank Fails. San Francisco, Nov. 7.-The Citi. zens' State bank, a minor Institution on Fillmore street, suspended pay. ment.

8. November 9, 1907 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, November 9, 1907

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CITIZENS STATE BANK MAY REOPEN IN GOOD CONDITION By Associated Press. SAN FRANCISCO, Nov. 8.-President Ragland of the suspended Citizens State bank said today that the bank was securing from all its depositors stipulations to accept two, four and six months' time certificates for their deposits. By this means, he said, the bank hoped to tide over the difficulty and to reopen in better shape than ever. Members of the bank commission express confidence in the ability of the institution to resume. The commission's expert, C. H. Dunsmoor, is still working on the accounts of the California Safe Deposit and Trust company. The commissioners will continue in charge of affairs of the bank, until the officials are prepared to reopen the dors. More than half a million dollars came to the city this morning for distribution through the subtreasury. More is expected before the subtreasury closes tonigh. The general sentiment in local banking circles continues optimistic and conditions are expected to soon become normal.

9. November 10, 1907 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, November 10, 1907

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BANK'S DEPOSITORS AGREE TO ACCEPT TIME CERTIFICATES By Associated Press. SAN FRANCISCO, Nov. 9.-One-third of the depositors of the Citizens State bank, the institution which took advantage of the bank holidays to suspend business temporarily, have already made stipulations to accept two, four and six months' time certificates for their deposits. President Ragland of the bank states that all the depositors accepted this method of placing the bank in good condition without protest or complaint. He further states that in another week the bank will be able to open in sound condition. J. C. Calvin Ewing, secretary of the bank commission, stated this morning that if the California Safe Deposit and Trust company resumes business the commission will issue no report on its condition beyond stating that it has complied with the provisions of the law and is in sound financial condition. The officers of the bank reiterate their intention of opening their doors within a short time. Gold to the total amount of $540,000 was transferred to the banks of this city from the east through the sub-treasury today. Ninety thousand one dollar clearing house certificates were issued to the commercial banks this morning. It is the intention of the clearing house committee to issue also certificates for two dollars. The issuance of the $1 and $2 certificates will increase the total output of clearing house paper by several hundred thousand dollars.

10. November 10, 1907 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, November 10, 1907

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Stocks Slowly Rising. Notable advances were made by the active shares of the stock during the week, today's financial sales showing higher prices as follows: Union Pacific, 21/2; United States Steel 1½, the preferred 23/4; Reading, 41/8; Pennsylvania, 4%; Northern Pacific, 1%; New York Central, 2%; Missouri Pacific, 1½; Great Northern, 21/4; St. Paul, 27, and American Sugar, 3. SOUND TO THE CORE. California Safe Deposit & Trust Co. Will Shortly Resume. San Fhrancsico, Nov. 9.-One-third of the depositors of the Citizens' State bank, the institution which took advantage of the bank holidays to suspend business temporarily, have already made stipulations to accept two, four and six months' time certificates for their deposits. President Ragland of the bank states that all the depositors accepted this method of placing the bank in good condition without protest or complaint. He further states that in another week the bank will be able to open in sound condition. J. Calvin Ewing, secretary of the bank commission, stated this morning that if the California Safe Deposit & Trust company resumes business the commission will issue no report on its condition beyond stating that it has complied with the provisions of the law and is in sound financial condition. The officers of the bank reiterate their intention of opening their doors within a short time. Gold to the total amount of $540,000 was transferred to the banks of this city from the east through the sub-treasury today. Ninety thousand $1 clearing house certificates were issued to the commercial banks this morning. It is the intention of the clearing house committee to issue also certificates for $2. The issuance of the $1 and $2 certificates will increase the total output of clearing house paper by several hundred thousand dollars.

11. December 12, 1907 New-York Tribune New York, NY
Article from New-York Tribune, December 12, 1907

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BANKER KILLS HIMSELF. Branch Manager of California Trust Blows Out Brains. San Francisco, Dec. 11.--T. Otway Sadleir, manager of the West End branch of the defunct California Safe Deposit and Trust Company, blew out his brains last night while locked in his office, at No. 1531 Devisadero street. No explanation has yet been made of his accounts, but it is known that he was heavily involved personally in the failure. Ever since it was known that the bank could not survive he has been greatly depressed. Sadleir was one of J. Dalzell Brown's most confidential employes and had full executive authority of the West End branch, of which he was made manager some time ago. When Brown was arrested Sadleir was present and tried vainly to prevent the police from taking his superior to prison. So far as the investigation of the Depositors' Association had gone, nothing improper had been discovered in Sadleir's direction of the affairs of the Western addition bank, and no charges had been made against him. Brown said that it was not personal loss or any act as an employee of the bank that caused Sadleir to commit suicide. Sadleir was Brown's most intimate friend for many years. He went to South Africa and fought on the British side during the Boer war. He called on Brown last night, and because of his failure to procure bonds for Brown was much depressed. He had promised Brown's invalid wife that he would take Brown home last night. When he failed in this he seems to have gone to the branch bank to kill himself. Some of the securities of the Ellen M. Colton estate which disappeared from the California Safe Deposit and Trust Company, it is said, resulting in the arrest of its officials, were sold through a local broker, according to a statement made to-day by E. J. Truman, vice-president of the Citizens' Bank. Truman said it was his opinion that most of the missing securities would be found in New York. With $5,000 in cash in vaults and owing approximately $90,000 to depositors, Judge Garoutt to-day took charge of the assets of the Citizens' State Bank for the State Bank Commissioners. R. E. Ragland is president and principal stockholder. The institution took advantage of the holiday, and suspended paying about three weeks ago. Its principal assets are notes for $90,000.

12. December 12, 1907 Daily Arizona Silver Belt Globe, Miami, AZ
Article from Daily Arizona Silver Belt, December 12, 1907

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# SUICIDE IN W'AKE # OF BANK FAILURE (Continued from Page One) the insolvent bank made no attempt to communicate with each other. Judge Dunne accepted the bond of $75,000 given by a surety company for the release of the aged bank president, and set his preliminary hearing for December 19. Walker avoided newspapermen, but late this afternoon he gave out a statement through his attorney, W. H. Chickering. Walker said that he became president of the company in July, 1905, at the earnest solicitation of Bartnett and with the understanding that he was not to devote his entire time to the management of the corporation. During a large part of the time since he has been absent in New York and Europe. He said: Said Business Was Good. "In June I went east on business in connection with the San Francisco Bond & Mortgage company. The first I knew of any weakness of the bank was the receipt of telegraphic information from San Francisco that the bank had closed its doors. During the few days immediately preceding the information, I received letters from Brown to the effect that the business was in a flourishing condition and that in spite of the financial crisis, the institution was doing well. "I knew nothing whatever regarding the Colton securities. I have never seen the securities, nor have I ever had possession of them. "I am not a debtor to the bank in the sum of $250,000, or any other amount. On the contrary, at the time the bank closed I was a creditor for about $42,000, and Mrs. Walker was also a creditor. I am ready at all times, in the event that the depositors and stockholders can bring about a re-organization, to aid as far as I am able." Examining Books. Assistant District Attorney Cook stated this afternoon that the two men he set to work examining the books of the bank had gathered much information about the affairs and methods, but the nature of the information he declined to give out. Governor Gillett was in conference with the bank commissioners during the day with reference to the financial situation and the duties of the commission. Later in the day the commission took charge of the Citizens' state bank, a small institution on Filmore street which suspended several weeks ago. R. E. Ragland is the president and principal stockholder. Commissioners found that the bank had $5,000 in its vaults as against $90,000 it owed depositors. Its principal assets are notes for $90,000.

13. December 12, 1907 The Marion Daily Mirror Marion, OH
Article from The Marion Daily Mirror, December 12, 1907

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Outlook for Creditors Is Poor. San Francisco, Dec. 12.-With $5,000 in cash in its vaults and owing $90,000 to depositors, Judge Garoutt on Wednesday took charge of the assets of the Citizens' state bank for the state bank commissioners. R. E. Ragland is president, and principal stockholder in the bank. The institution suspended payment about three weeks ago. Its principal assets are notes for $90,000.

14. December 14, 1907 Spirit of the Age Woodstock, VT
Article from Spirit of the Age, December 14, 1907

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Court Takes Charge of Assets. San Francisco, Cal.-With $5000 in cash in its vaults and owing approximately $90,000 to depositors, Judge Garoutt has taken charge of the assets of the Citizens' state bank for the state bank commissioners. R E. Ragland is president and principal stockholder in the bank. The institution took advantage of the holiday and three and suspended paying about weeks ago. Its principal assets are notes for $90,000.

15. January 14, 1908 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, January 14, 1908

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ASKS FOR HIS MONEY; FLEES AT PISTOL POINT Depositor of San Francisco Bank Who Tried to Collect What Was Due Him, Gets Harsh Reception By Associated Press. SAN FRANCISCO, Jan. 13.-A complaint against R. E. Ragland, president of the suspended Citizens' State bank on Fillmore street, was sworn to today by Posnanski, a contracting painter, and a warrant for the arrest of the banker on a charge of "exhibiting a deadly weapon in a rude and threatening manner" was issued by Judge Conlan. The complaint alleges that Posnanski had $1070 in the Citizens' bank when it closed its doors. He tried to arrange with Ragland for its withdrawal and asserts that the latter agreed to see that he was paid. In consideration of this promise Posnanski painted Ragland's house at Elmhurst and presented a bill for $300 He met Ragland by appointment on Market street to get his money when the banker is alleged to have drawn a revclver, pressed it against his creditor's side and forced him to flee for his life.

16. February 4, 1908 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, February 4, 1908

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Receiver Named for Bank By Associated Press. SAN FRANCISCO, Feb. 3.-Frank J. Symmes, president of the Merchants association, was appointed receiver of the Citizens State bank by Judge Seawell this morning with bonds placed at $50,000.

17. February 4, 1908 New-York Tribune New York, NY
Article from New-York Tribune, February 4, 1908

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and the company will be reorganized. Providence. Feb. 3.-N. Curtis Fletcher & Co., bankers and brokers, suspended payment to-day. No statement was available, but it is understood that the firm, which has financied a number of small electric and gaslight concerns in Maine and elsewhere, could not meet attachments filed against it. A deed of trust was executed to Frank L. Hinckley, a local attorney. Boston, Feb. 3.-A reorganization of the Knox Automobile Company, of Springfield, Mass., which assigned July 22, was announced here to-day. Alfred M. Mayor, Charles L. Goodhue, Charles H. Beckwith and Peter Murray. all of Springfield; Charles E. Whitney, of Hartford, Conn.: William E. Wright. of Springfield: W. H. Chase, of Leominster: M. J. Greenwood, of Gardner, and H. W. Cutler, of North Wilbraham, have been elected directors, and Charles L. Goodhue has been chosen president and treasurer. The creditors, whose claims aggregated $957,600, have accepted preferred stock in settlement. Jefferson City, Mo., Feb. 3.-A license was granted the Western Union Telegraph Company to-day by the Secretary of State to do business in Missouri. The company made application for a license several days ago, when the Attorney General agreed to dismiss proceedings instituted in the Circuit Court to compel the company to comply with the state law in this respect. San Francisco. Feb. 3.-Frank Symmes, president of the Merchants' Association, was appointed receiver of the Citizens' State Bank to-day, with bonds of $50,000. Lexington, Ky., Feb. 3.-The Transylvania Printing Company, one of the oldest publishing companies in the West, assigned to-day to J. R. Bush, given. of this city. Assets about $50,000; liabilities not St. Paul, Feb. 8.-Vice-President Gallivan of the International Union of Boiler Makers announced to-day that the strike of boiler makers against the several railroads in Minnesota is declared off. Gallivan said that the roads have not needed the equipment that they ordinarily require. The men have been on strike since September. Chicago, Feb. 3.-The Pullman Palace Car Company to-day distributed $174,850 among 3,770 employes for its car service department. The bonus amounts to one month's salary for every conductor and porter who continued on the payroll of the company throughout 1907 and escaped demerits. It is the intention of the company to grant the bonus of one month's pay each year hereafter to such conductors and porters as make a clean record throughout the year. Chicago, Feb. 3.-Judge Landis overruled to-day the demurrer of the Atchison, Topeka & Santa Fe Railroad Company to the federal indictment. charging the company with granting rebates to the United States Sugar and Land Company. The railroad company has two weeks in which to plead to the indictment. Wilmington, Del., Feb. 3.-In the United States District Court to-day the Peyton Chemical Company, of California. and the Equitable Powder Manufacturing Company, of New Jersey, two of thee powder concerns made subjects of litigation by the government alleging violation of federal laws, filed answers to the bill filed by the government. The answers contain a general denial of the allegations made by the government, being similar to the answers filed by other defendants a month ago. The next step in the powder litigation will be the filing of replications by the government, which it is required to do by the first Monday in March. Buffalo, Feb. 3.-As the result of a petition in a suit in equity brought by Emma Coleman, of Somerset, Va., Judge Hazel to-day appointed George P. Keating and Edward R. O'Malley, receivers of the National Battery Company, of Buffalo. The liabilities of the company amount to about $120,000. principally in promissory notes, most of which are due. The assets are said to be about $425,000, but on account of the financial stringency it is impossible to pay even the most pressing claims. Chelsea, Mass, Feb. 3.-The Magee Furnace Company reopened Its plant to-day after a shutdown of two weeks, giving work to five hundred skilled mechanics. Millbury, Mass., Feb. 3.-The Cordis mills, manufacturing ticking, began a working schedule of four days a week to-day. The plant employs 135 hands.

18. February 5, 1908 Tonopah Daily Bonanza Tonopah, NV
Article from Tonopah Daily Bonanza, February 5, 1908

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CITIZEN'S BANK HAS RECEIVER SAN FRANCISCO, Feb. 4.-Frank J. Symes, president of the Merchants' Association, was appointed receiver of the Citizens' State Bank by Judge Sewell this morning, with bonds placed at $50,000. The State bank commissioners, through Attorney General U. S. Webb brought suit to have the bank declared insolvent, and judgment was given to that effect today. This includes a restraining order directed against the officials and employers of the bank, who must not interfere with its affairs.

19. February 12, 1908 Vernon County Censor Viroqua, WI
Article from Vernon County Censor, February 12, 1908

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INDUSTRIAL. N. Curtis Fletcher & Co., bankers and brokers, suspended payment at Providence, R. I. William J. Starr of Eau Claire, has been chosen president of the First National Bank at Frederic. A receiver was appointed for the firm of Wyvell-Harrington company of Minneapolis, real estate dealers. The Transylvania Printing company at Lexington, Ky., has assigned; assets $50,000, liabilities not given. Frank Symmes has been appointed receiver of the Citizens State bank, at San Francisco, with bonds of $50,000. A. B. Strowbridge, general merchant at Jim Falls, Wis., has gone into bankruptcy. His liabilities are about $6,000, assets about $8,300. After a temporary shutdown the New York Central railway company's shops at West Albany, N. Y., have re sumed operations. About 1,300 men are affected. Judge Pritchard granted the petition of A. O. Brown & Co. of New York for the appointment of a receiver for the Whitney company of Rowan county, N. C. The Lehigh Valley railroad company will further reduce its expenses by withdrawing its black diamond express. Retrenchment on a basis of 10 per cent is being made in the operating department. At Denver, several hundred representatives of union labor in massmeeting formed the Yellow Peril Exclusion league, designed to prevent further influx of Asiatic cooley labor into the United States. The Malleable iron works in Beaver Dam, Wis., shut down for an indefinite period, and has thrown 200 persons out of employment. Some time ago 200 of the employes were let out, and since that time smaller numbers have been dropped. The Nebraska state rallroad commission has passed a resolution compelling the Rock Island road to build a depot at the town of University Place. The commission declares it has the power to compel construction whether the company's depot is remunerative or not. H. H. Zigler, who represents an Ohio syndicate of interurban road promoters, was in Janesville with his consulting engineer to inspect the possible route between this city and Madison. Mr. Zigler states that his syndicate expects to build the road during the coming summer. The J. Thompson & Sons Manufacturing company will resume operations at Beloit, within thirty days. At a meeting of creditors with local officials, the sentiment expressed by even the largest crditors was that the wheels be started as soon as the receiver ship can be dissolved. Robert M. Lyons, receiver in charge of the Aetna bank, at Butte, Mont., which failed in October, 1906, has been directed to bring suit against Augustus Heinze, former director, and A, B. Clemens, former treasurer, for $97,500, the amount of cash due for stock held by Heinze which was never paid for. The Pullman Palace Car company has distributed $174,850 among 3,770 employes in its car service depart ment, the bonus being one month's extra salary for every conductor and porter. It is the intention to grant the bonus nereafter to conductors and porters who make a clean record throughout the year. That logging operations in northern Wisconsin have become active since the recent cold spell and downfall of snow is shown by the large number of carloads of logs coming to and passing through Chippewa Falls. Lum bermen who are acquainted with log ging in this section state that prac tically as many camps as last winter are now in operation. Receiver P. R. Earling has notified the directors of the defunct First National bank of Ladysmith, Wis that they must pay $3,070, the whole amount the bank lost through the bankruptcy of the Ladysmith Light and Power company, because the loan from the bank to the company was in excess of the percentage of its capita stock permitted by law to be loaned n to any one person. POLITICAL. Resolutions indorsing Gov. Hughes for the presidency were unanimously republicar

20. February 16, 1908 Arizona Republican Phoenix, AZ
Article from Arizona Republican, February 16, 1908

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LATE FRISCO BANKER a Gets Six Months For Scaring Depositor. San Francisco, Feb. 15.-R. E. Ragland, president of the Citizens State Bank, recently suspended, was sentenced today by Police Judge Conlan to six month in jail for exhibiting a revolver in a rude and threatening manner to J. Pomansky, a depositor in the bank who sought to recover his money.

21. October 30, 1908 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, October 30, 1908

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CITIZENS' STATE BANK DECLARES A DIVIDEND Receiver Issues Checks to Depositors Amounting to $9,000 The Citizens' state bank is the first of the San Francisco banks that went into liquidation to pay a dividend to its depositors and creditors. A 10 per cent dividend was declared. Checks were mailed yesterday to every holder of an approved claim against the bank. The total amount to be paid is $9,000. The condition of the books of the bank has made it exceedingly difficult for the receiver to collect many of the loans, as they were made without security. A license to conduct a banking business was granted to Kamikawa brothers of Fresno by the bank commissioners yesterday afternoon. The new bank will open the first of the month with a capital stock of $50,000, $25,000 of which has already been subscribed and paid in. The officers of the new bank are: R. Kamikawa, president; K. Kamikawa, vice president; M. Kamikawa, cashier; K. Eezina, secretary.

22. February 22, 1909 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, February 22, 1909

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THESE DOORS ARE SIDE OF HOUSE Peculiar Situation Proves Problem That Is Solved by Court The old riddle of the sphinx, "When is a door not a door?" has acquired a new solution in San Francisco banking circles. The fresh answer is, "When it is the side of a house." The definition received its first production in the controversy that recently arose between William ,Wilson, owner of the Wilson building in Montgomery street, and the Washington commercial bank, an institution which followed the fortunes of the defunct Citizens' state bank, which went into the hands of a receiver under the presidency of R. E. Ragland. The Citizens' state bank was a tenant of Wilson in the building at 125 Montgomery street. When the Ragland bank opened in the Wilson building it constructed a safe deposit vault in the rear of the office. It rented the premises to the Washington commercial bank and made over property rights in the safe deposit vault and boxes. Later the Washington commercial bank sublet its place to the Edwards-Brewster-Clover company. According to L. B. Edwards, presi-