Citizens State Bank - Mulberry, KS

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: July 6, 1909
Location: Mulberry, Kansas (37.557, -94.622)

Metadata

Model: gpt-5-mini
Short Digest: 947b7676

Response Measures

None

Description

Article (Topeka State Journal, 1909-07-06) states the bank 'closed its doors' and that J. W. Kenner is receiver. No run or depositor panic is mentioned. Closure appears due to insolvency/assessment issues (stockholder failed to pay assessment), so classified as suspension leading to permanent closure/receivership.

Events (2)

1. July 6, 1909 Receivership

Newspaper Excerpt: An action has been commenced ... by the Citizens' State bank of Mulberry by J. W. Kenner, receiver of the bank, which will test the double liability as provided by the state bank law as to state banks.
Source: newspapers

2. July 6, 1909 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank closed its doors and required stockholder assessments; failure of a stockholder to pay assessment after bank closure indicates insolvency/financial failure leading to suspension and receivership.
Newspaper Excerpt: T. E. Shaw, a stockholder in the Citizens' bank of Mulberry, did not pay his assessment when the bank closed its doors, while the balance of the stockholders did, and he is made the defendant in the case.
Source: newspapers

Newspaper Articles (1)

1. July 6, 1909 The Topeka State Journal Topeka, KS

Article from The Topeka State Journal, July 6, 1909

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Article Text

WILL TEST NEW STATE LAW. State Bank Double Liability Clause to Be Tested. Mulberry, Kan., July 6.-An action has been commenced in the district court sitting in Pittsburg by the Citizens' State bank of Mulberry by J. W. Kenner, receiver of the bank, which will test the double liability as provided by the state bank law as to state banks. Fred S. Jackson, the attorney general, will be here and look after the interests of the plaintiff and also in defense of the state law. T. E. Shaw, a stockholder in the Citizens' bank of Mulberry, did not pay his assessment when the bank closed its doors, while the balance of the stockholders did, and he is made the defendant in the case. It is claimed by Attorney General Jackson that in case of a failure of a state bank a stockholder is liable to a double assessment for the protection of creditors of the bank.