Citizens Bank (Marcus, IA)

Episode Information

Episode UID
5059073491343
Episode Type
Suspension β†’ Closure
Bank Type
private
Bank ID
505907349 hash
Start Date
November 20, 1911
Location
Marcus, Iowa (42.826, -95.808)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
57950eb6a2be1bc8

Response Measures

None

Description

Bank was owned by Frank S. Barnes and is described as failed/bankrupt; receiver referenced.

Events (3)

1. November 20, 1911 Receivership
Newspaper Excerpt
the receiver of the bankrupt banker, Frank S. Barnes, of Marcus, estimates the liabilities at $253,000 ... nearly all in the form of deposit certificates of the Citizens' Bank of Marcus, a private institution, owned by Mr. Barnes.
Source
newspapers
2. November 20, 1911 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank owned by Frank S. Barnes became bankrupt; liabilities exceed assets leading to failure/suspension.
Newspaper Excerpt
the receiver of the bankrupt banker, Frank S. Barnes, of Marcus, estimates the liabilities at $253,000, nearly all in the form of deposit certificates of the Citizens' Bank of Marcus, a private institution, owned by Mr. Barnes.
Source
newspapers
3. December 8, 1911 Other
Newspaper Excerpt
the grand lodge of the A. O. U. W. of Iowa has been fully reimbursed for the loss sustained by the failure of the Citizens' Bank of Marcus. Phil Carlin ... received official notification Wednesday that $31,016.32 ... had been made good by the Fidelity Casualty Company, of Baltimore ... Mr. Michelstetter resigned his office shortly after the affairs of the bank became involved.
Source
newspapers

Newspaper Articles (2)

Article from Evening Times-Republican, November 20, 1911

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Article Text

Alden. Supervisor J. C. Jackson has bought a section of Kossuth county land for $50 and will use the same for a sheep ranch. The land is located in Harrison township and belonged to George E. Roberts, director of the United States mint. Story City. A. J. Severson has become owner of the drug and jewelry business hitherto conducted by Dr. Linder and known as Linder Drug Company. The deal was concluded the later part of last week and Mr. Severson took possession on Monday. It is understood that the doctor will hereafter give his exclusive attention to his medical practice. West Bend. The fire alarm was sounded at 10 o'clock Monday morning. It was discovered that the public school building was on fire. By quick work the flames were soon brought under control. There was considerable damage done by water. An adjuster for a Des Moines insurance company, was in town Tuesday and adjusted the loss. They paid $60 which will cover the loss. Estherville. F. H. Rhodes closed a deal last week with H. C. Coon, by which he becomes the owner of the Coon block, one of the most valuable pieces of property in the city. It is one of the most centrally located and is one of the best twostory brick buildings in town and will make a splendid permanent home for the Bank of Estherville. In the deal Mr. Coon gets 240 acres of Emmet county land near Maple Hill, and 160 acres of Jackson county, Minn., land near Alpha. Ida Grove. George W. Ellis, aged 76, one of the oldest settlers of northwest Iowa and a man who had the respect and the esteem of every one who ever met him, died at his home in Ida Grove on Monday morning, Nov. 13. 1911. Mr. Ellis was stricken with apoplexy on June 25, 1909, and was left helpless. Two weeks ago he had a sinking spell and was unconscious after that. His vitality was marvelous and he lived for months after the physicians felt certain his death was at hand. Marcus. The receiver of the bankrupt banker. Frank S. Barnes, of Marcus, estimates the liabilities at $253,000, nearly all in the form of deposit certificates of the Citizens' Bank of Marcus, a private institution, owned by Mr. Barnes. He was a heavy stockholder in the First National Bank of Marcus, owned a flour mill, and had stock in the local telephone company, and in industries at Lehigh and Mason City, as well as equity in a 400 acre farm in Illinois, but it is estimated that the assets will not exceed one-half of the liabilities. Rockford. Under authority of Harry Hall, executor of the estate of J. Thompson, deceased, the store building located near the middle of block twelve, and occupied for some time past by the Allen Dry Goods Company, was sold at auction, C. G. Grey, of Charles, being the crier in charge. But one offer was made for the property and this was a bid of $3,000 by G. O. Mitchell, who at once sold to Paul Kannengeiser for $3,050. The property is one of the best located and most valuable of its kind in Rockford. Parkersburg. Henry VanHauen was quite seriously injured Monday breaking up some kindling wood to start a fire. He was breaking the sticks across his knee, considΓ©rable force being used. One of the sticks had a long thin nail driven thru it and this penetrated Mr. Hauen's knee to the depth of an inch


Article from Evening Times-Republican, December 8, 1911

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Article Text

# Fort Dodge. Claude O'Brien, as the man styles himself, who was arrested while in the act of robbing the New York Brokerage Company store on Central avenue, was bound over to the grand jury under $2,500 bonds for breaking and entering. A companian escaped. # Algona. Carl Wauge sold about three pounds and a half of his ginseng roots to John Bingaman for $13, or $4.50 per pound, the other day. The ginseng raisers are losing money just now on account of the war in China, where the plant is used mostly. The war has caused the price to drop from $7 or $8 to $4 or $5 per pound. # Mason City. Attacked by three masked men, James Sakes, a local business man, had a hard fight at midnight Monday night, when halted on his way home, near the city limits. He put up a game fight and at the same time called loudly for help. Neighbors awakened and came to his rescue, but his assailants had fled. # Northwood. The delinquent tax sale of Worth county land was the smallest in the history of Worth county. Only two pieces were sold, a lot in the town of Bolan and thirteen acres of farming land in Fertile township, the two aggregating only $7.46. Worth county has long had the smallest delinquent tax list in the state. # Cherokee. At a meeting of Company M. of the 56th I. N. G., at the armory, the company decided to elect a new first lieutenant. L. A. Wescott, of Company M, was appointed by Colonel Chantland to the position of regimental quartermaster, with the rank of captain. There are several likely candidates for the place and the contest will be lively. # Spencer. Sheriff Geiger of O'Brien, 'phoned Sheriff Rice as to the whereabouts of one "Bill" Trotter alias "Bill" Miller. Early next morning Sheriff Rice drove out to the Morris home, about six miles northwest of Spencer, where he found the party, arrested him and lodged him in jail that afternoon Sheriff Geiger came over in a car and took him back to Primghar, where he was wanted on a charge of larceny. # Onawa. Rev. Vintor Lee closed his pastorate of the Congregational church last Sunday and left today for Belle Plaine, where he will have charge of the church there. This leaves Onawa with only one protestant preacher. Rev. H. W. L. Mahood, pastor of the Methodist church, is likely to have a monopoly on weddings for some time, as in all probability the other churches will not be supplied with preachers for several months at least. # Onawa. Harold Slocum, alias Slone and Simpson, who is in the county jail for "jumping" a board bill, is getting in deeper. A detective from Lewiston, Maine, is here waiting for requisition papers to take him to Lewiston on a forgery charge. The fellow came to Onawa several weeks ago and registered at the Park hotel as H. L. Sloan and wife. After an unsuccessful attempt to work up an advertising scheme with the local merchants he attempted to leave town without settling with Landlord Folck. # Marcus. The grand lodge of the A. O. U. W. of Iowa has been fully reimbursed for the loss sustained by the failure of the Citizens' Bank of Marcus. Phil Carlin, a member of the board of directors of the grand lodge, received official notification Wednesday that $31,016.32, the amount deposited in the Marcus bank by Henry Michelstetter, grand receiver of the Iowa grand lodge, had been made good by the Fidelity Casualty Company, of Baltimore, Mr. Michelstetter's surety. Mr. Michelstetter resigned his office shortly after the affairs of the bank became involved. # LeMars. There was much excitement on Clark street when two women refused to be evicted from the Steffin house, in which they have been renting rooms for some time. The house is owned by a poor widow, Mrs. Steffin, and she has for some time desired to get rid of her tenants, Mrs. Nic Hoffman and her daughter, Miss Hoffman. They refused to go, altho notified numberless times. An order of court was obtained for their eviction and Sheriff Arendt, with a deputy, went to execute the court's mandate. The women refused to parley with the officers and barricaded the doors, Finally the sheriff went to a window, and while he attracted the attention of the women,