Citizens Savings Bank (Quimby, IA)

Episode Information

Episode UID
72154371486
Episode Type
Run → Suspension → Closure
Bank Type
savings
Bank ID
7215437 routing
Routing Number
72-1543
Start Date
October 11, 1923
Location
Quimby, Iowa (42.630, -95.642)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
0491db43f4c4fdf2

Response Measures

None

Description

State examiners discovered a large shortage prompting receivership after the closure.

Events (3)

1. October 11, 1923 Run
Cause
Rumor Or Misinformation
Cause Details
Continued withdrawals triggered by rumors the bank's officials called false.
Measures
Bank was closed by order of the state banking department in response to the run.
Newspaper Excerpt
Due to a continued run, based on rumors declared by its officials to be false, the Citizens' Savings bank at Quimby, Ia. has been closed by orders of the state banking department.
Source
newspapers
2. October 11, 1923 Suspension
Cause
Government Action
Cause Details
Closed by orders of the state banking department following a continued run based on rumors.
Newspaper Excerpt
the Citizens' Savings bank at Quimby, Ia. has been closed by orders of the state banking department.
Source
newspapers
3. January 19, 1924 Receivership
Newspaper Excerpt
Application for the appointment of a receiver for the Citizens Savings bank of Quimby, closed several months ago, following the discovery of a large shortage made by State examiners, has been made by Robert L. Leach, state superintendent of banking.
Source
newspapers

Newspaper Articles (4)

Article from The Gazette, October 11, 1923

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Article Text

RUMOR LAUNCHES RUN CLOSING QUIMBY BANK CHEROKEE, Oct. 11.—Due to a continued run, based on rumors declared by its officials to be false, the Citizens' Savings bank at Quimby, Ia. has been closed by orders of the state banking department.


Article from Press-Telegram, January 20, 1924

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Article Text

Mid-West News. INDIANAPOLIS IN THROES OF LABOR WAR All Persons Must Be Off of Streets at 9 P. M., Order of Mayor. NEW EXCHANGE IN OMAHA IS PLANNED Livestock Building Projected to Cost When Completed $2,000,000. INDIANAPOLIS, Jan. 19.—Fearing another outbreak in the labor troubles between striking employes of the National Casting company and the Montpelier Manufacturing company, Mayor Reynolds has clamped the lid on tight. Hereafter everyone will have to be off the streets by 9 o'clock, with the exception of Saturday nights, when the hour for getting home is officially 11 o'clock. The recent bombing of the Columbia hotel there was attributed by officials to the labor war. Huge Structure Projected. OMAHA, Jan. 19.—A program calling for a new livestock exchange building to be constructed here at a cost of $2,000,000 was approved at the annual meeting of the Union Stockyards Company of Omaha. For the seventeenth time R. J. Dunham was chosen president of the concern. St. Cloud Growing. ST. CLOUD, Minn., Jan. 19.—St. Cloud, a city of 20,000 population, spent in the last twelve months nearly $4,000,000 on building operations, more than double the amount spent the year before, and by far the largest total ever expended on a single year's construction projects in St. Cloud. Big River Improvement. KANSAS CITY, Jan. 19.—Construction of several large dikes and riprap work on the Missouri river near McGaine, in southern Boone county, will begin immediately. Government engineers arrived yesterday and were outlining the project. Bank Receiver Asked. DES MOINES, Jan. 19.—Application for the appointment of a receiver for the Citizens Savings bank of Quimby, closed several months ago, following the discovery of a large shortage made by State examiners, has been made by Robert L. Leach, state superintendent of banking. Dead Youth Identified. DES MOINES, Jan. 19.—The body of a boy killed in a fall from a viaduct at Omaha, Neb., has been identified as the son of William P. Philo, president of Hamilton's University at Mason City. Philo disappeared from Waterloo September 26 and a nation-wide search has been carried on for him since. Nurses' Home Projected. DETROIT, Jan. 19.—The erection of a nurses' home and training school at a cost of $1,500,000, to be conducted in connection with the Henry Ford hospital, and the initiation of a new policy of training nurses for hospital service, were announced by Edsel B. Ford. The new buildings, plans for the erection of which have just been completed by the Ford family, are expected to be ready in the fall. Excavation work began in September.


Article from The Register, January 26, 1924

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Article Text

ORANGE, Jan. 26.—There was a joint installation meeting of the American Legion and Ladies Auxiliary at the Armory Thursday night at 8:00 o'clock, with an attendance of over one hundred. The Legion officers were Claude Potter, Commander; Fred Wallace, vice-president; Mr. Fixon, adjutant; Romaine Canfield, Chaplain, and Tom Kelley, Sergeant at Arms. The Auxiliary was represented by Mrs. Chapline, the outgoing president, who had served for the past two years. She was presented with a large basket of flowers by Mrs. Upham, who assured Mrs. Chapline that the Auxiliary appreciated her earnest and untiring efforts in their behalf and begged of her to accept this little reminder as a token of their appreciation. Mrs. Chapline responded by saying that while there was an abundance of work, it had been a real pleasure to her to fill the position that she had held for the past two years. Mrs. George Bier was the newly elected president, Mrs. Carl Pister, first vice-president; Mrs. Charles Rozelle, second vice-president; Mrs. Vernon Shipe, secretary; Mrs. Charles Wallace, treasurer; Mrs. Vernon Rozelle, sergeant at arms; Mrs. Chas. Peterkin, chaplain; Mrs. George Lee, historian. Mr. E. E. Barr gave several local selections: A quartette of Legion boys, Mr. A. Nordine, Mr. Fixon, Mr. Batterman and Elmer Ensign also sang several selections. Eight Legion members were requested to give impromptu selections, with a penalty of a heavy fine for failure to do so. The penalty of a fine induced them to comply, but as they could not all agree on any certain selection, each member was permitted to render his own favorite selection at the same time, which caused a great deal of amusement. The same request was also made of members of the Auxiliary. Mrs. Vernon Rozell impersonated Schumann-Heinke by singing Marcheta. Following the program refreshments were served. The refreshments were followed by a social hour. Commander Potter gave a talk highly commending the Auxiliary for their earnest work and co-operation, praising them for their promptness at all times to respond to the calls for aid for disabled veterans. BANK RECEIVER ASKED. DES MOINES, Jan. 26.—Application for the appointment of a receiver for the Citizens Savings bank of Quimby, closed several months ago, following the discovery of a large shortage made by state examiners, has been made by Robert L. Leach, state superintendent of banking. W. P. Fuller & Co., paints, varnishes, plate and window glass, mirrors. 400 W. 4th St. Phone 881.


Article from The Gazette, February 4, 1924

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Article Text

CEDAR RAPIDS BANK SUES ON NOTE AT CHEROKEE Special to The Gazette. CHEROKEE, Feb. 4.—The Merchants National bank of Cedar Rapids has filed its petition in a suit brought to recover $4,800 from W. F. Will. The amount represents the face of a note claimed by the plaintiff to have been given to the Citizens Savings bank of Quimby. That bank is now in the hands of a receiver. The Cedar Rapids bank says that before the Quimby bank suspended it purchased the note.