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CITIZENS BANK CLOSED In Hands of State Bank Commissioner Temporarily A notice on the closed door of the Citizens State Bank of Claflin states that the bank is now in the hands of the State Bank Commissioner. The notice means, in effect, that the bank is closed and will be placed in the hands of a receiver. The bank had a lot of loans out and the officers expected the present wheat crop in this vicinity to materially reduce the loans and put the affairs of the bank in shape again. A few heavy depositors came in yesterday and asked for their money, one of them demanding nine thousand dollars. The bank could not pay that much out at once, and until after harvest would be unable to pay it, SO the directors called on an attorney from Great Bend and he, Mr. R. C. Russell, was here yesterday evening and is handling the correspondence for the directors. It was on his advice that the notice was posted on the door. The directors have asked that Mr. Solenberg of Marquette be named as receiver for this bank. Mr. Solenberg has been here several times recently, with the idea in view of buying out Mr. Schumacher's interest in the bank and coming here to run it. This sudden run on the bank has knocked that deal in the head, at least for the time being, although it may be that Mr. Solenberg will yet take over the affairs of the bank. There is sufficient paper out to take care of the bank's obligations to depositors, but just now it will he hard to realize on some of it. The directors believe that Mr. Solenberg will reorganize the bank if put in here as a receiver, and that the depositors will not lose anything. There was some talk also of the Farmers State Bank of Beaver being consolidated with the Citizens bank here. Just what will develop from the present situation cannot be said now. A receiver will no doubt be appointed in a few days and the work of liquidating the assets of the bank or of reorganizing it will begin.
