Citizens Bank - Pine Bluff, AR

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: October 30, 1907
Location: Pine Bluff, Arkansas (34.228, -92.003)

Metadata

Model: gpt-5-mini
Short Digest: d3d5e1d4

Response Measures

None

Description

Clearing-house action (limit on cash payments to $50 per depositor per day) for all Pine Bluff clearing-house banks on Oct 30, 1907 amid the national panic. This is a temporary suspension/limitation of payments (no evidence of a depositor run on this specific bank or of permanent closure). Cause attributed to national panic/news from New York.

Events (1)

1. October 30, 1907 Suspension

Cause: Macro News
Cause Details: Clearing-house imposed limit on cash payments ($50 per depositor per day) in response to conditions in New York and the national panic of October 1907
Newspaper Excerpt: it was ordered that until further notice all the banks of the Pine Bluff Clearing House Association would limit the payment IN CASH on checks over their counters to fifty dollars per day for each depositor
Source: newspapers

Newspaper Articles (1)

1. October 31, 1907 Pine Bluff Daily Graphic Pine Bluff, AR

Article from Pine Bluff Daily Graphic, October 31, 1907

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Article Text

TO THE PUBLIC. Pine Bluff, Ark., Oct. 30, 1907. At a meeting of the Pine Bluff Clearing House Association it was decided advisable to provide for Pine Bluff the same measures of safety that have been adopted by the Clearing Houses of New York, Chicago, St. Louis, Memphis, New Orleans and Little Rock, and in accordance with the uniform rule adopted in those cities it was ordered that until further notice all the banks of the Pine Bluff Clearing House Association would limit the payment IN CASH on checks over their counters to fifty dollars per day for each depositor All checks issued by depositors for any amounts and deposited in other banks will be paid promptly through the Clearing House. This method of handling the city's business will enable the banks to make available their balances in reserve cities. As this plan has given general satisfaction in the larger cities, it is hoped our people will cheerfully cooperate with the banks in maintaining business in our midst. The Clearing-House Association is prepared to take all needful steps to fully protect the depositors, business interests, and the banks, and the sevenclearing house banks are pledged to maintain the banking interests of our city. Conditions in New York are improving daily and we think matters will be normal in a few days. All amounts deposited in cash will be subject to withdrawal in cash equal to the amounts so deposited. We ask your co-operation. PINE BLUFF CLEARING HOUSE ASSOCIATION. Composed of the following banks: Citizens Bank, Bank of Pine Bluff. Simmons National Bank, Cotton Belt Savings & Trust Co., Merchants & Planters Bank, Pine Bluff Trust Co., Peoples Savings Bank & Trust Co.