6194. Citizens Bank (Topeka, KS)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
February 1, 1878
Location
Topeka, Kansas (39.048, -95.678)

Metadata

Model
gpt-5-mini
Short Digest
eedb5da0baeaec50

Response Measures

None

Description

Articles (dated Feb 1 and Feb 7, 1878) report the Citizens Bank of Topeka closed its doors after heavy withdrawals (deposits fell ~36% in January) following problems at the local savings institution. The bank expected to resume in ~10 days and to pay a portion of deposits immediately, so this is classified as a run leading to suspension with planned reopening.

Events (3)
1. February 1, 1878 Run
Cause
Local Banks
Cause Details
Heavy withdrawals and loss of deposits (36% decline in January) following the failure/trouble at the local savings institution; described as following the savings bank failure.
Measures
Closed doors; indicated ability to pay 25% in about ten days and remainder in following weeks.
Newspaper Excerpt
The Citizens Bank of North Toepka closed its doors...they only owe $26,000 and will be able to resume in ten days.
Source
newspapers
2. February 1, 1878 Suspension
Cause
Local Banks
Cause Details
Closure due to great reduction in deposits tied to local savings bank failure and general withdrawals (36% deposit reduction in January).
Newspaper Excerpt
The Citizens' Bank of Topeka Follows in the Lead of the Savings Institution, and Closes Its Doors.
Source
newspapers
3. February 7, 1878 Other
Newspaper Excerpt
Mr. Thomas, the cashier, thinks that he can pay twenty-five per cent. in ten days, and the balance in a few weeks. No other bank has suspended to-day, and there is no probability of further trouble.
Source
newspapers

Newspaper Articles (2)
1. February 2, 1878 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, February 2, 1878

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Article Text

PORT JARVIE, N. Y., February 1.-There was a run on the Port Jarvis Savings Bank to-day. Deposits of less than $100 paid; on larger ones the 30 days rule enforced. TOPEKA, February 1.-There has been but little excitement here to-day. The Citizens Bank of North Toepka closed its doors, but they only owe $26,000 and will be able to resume in ten days. The other banks paid all demands. The Topeka National has been heavily reinforced with currency, and fears no troubles.

2. February 7, 1878 The Leavenworth Weekly Times Leavenworth, KS
Article from The Leavenworth Weekly Times, February 7, 1878

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Article Text

TOPEKA. Particulars of the Savings Bank Failure. Its Assets and Liabilities-How the Depositors Will Probably Come Out. NUMBER TWO. The Citizens' Bank of Topeka Follows in the Lead of the Savings Institution, and Closes Its Doors. Special to the Leavenworth TIMES.] TOPEKA, February 1.-The Citizens' Bank closed its doors this morning, owing to the great reduction in deposits which have decreased thirty-six per cent. during January. The amount of deposits is now about $26,000, and the depositors will be g d paid in full. Mr. Thomas, the cashier, e thinks that he can pay twenty-five per cent. 0. in ten days, and the balance in a few weeks. 1. No other bank has suspended to-day, and & there is no probability of further trouble. A committee of the creditors of the Topeka Bank and Saving Institution have been at e work all day d INVESTIGATING THE AFFAIRSOF THE BANK, and are still at it. Not having yet comJ. pleted their work, they will report some time to-night, or in the morning. It is believed that the accounts of the bank are in first class condition.