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: 7c3aa099

Response Measures

Full suspension

Description

Two contemporaneous reports (Feb 1, 1878) state the Citizens Bank of Topeka 'closed its doors' after a large reduction in deposits (36% in January) and following trouble at a local savings institution. Articles say depositors will be paid and the bank 'will be able to resume in ten days' and expects to pay a portion quickly, indicating suspension caused by a run and anticipated reopening.

Events (3)

1. February 1, 1878 Run

Cause: Local Banks
Cause Details: Heavy withdrawals following failure/trouble at the local Savings Bank; deposits reduced ~36% in January leading to panic withdrawals from Citizens Bank.
Measures: Closed doors temporarily; partial payments planned (cash on hand to pay some demands); management announced intent to resume in about ten days.
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: Suspension triggered by a sharp reduction in deposits (36% decline) and contagion from the nearby savings bank failure/affair; bank closed to stem withdrawals and to arrange payments to depositors.
Newspaper Excerpt: The Citizens' Bank of Topeka Follows in the Lead of the Savings Institution, and Closes Its Doors.
Source: newspapers

3. February 1, 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.
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.