7396. Citizens Bank (Murray, KY)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 26, 1914
Location
Murray, Kentucky (36.610, -88.315)

Metadata

Model
gpt-5-mini
Short Digest
a4593125

Response Measures

None

Description

Multiple contemporaneous newspaper reports (Oct 26-29, 1914) state the Citizens Bank at Murray, KY was closed/suspended by its directors because it could not realize quickly on assets. One article notes the bank was placed in the hands of the State Banking Commissioner, indicating receivership/official intervention and that the closure was not merely a temporary run-related stoppage. No article describes a depositor run or reopening.

Events (2)

1. October 26, 1914 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors closed the bank because it was unable to realize quickly on its assets to meet obligations (insufficient liquid assets/asset realization problems).
Newspaper Excerpt
The Citizens Bank at Murray, Ky., was closed today by the directors, who announced that the suspension was due to inability to realize quickly on its assets.
Source
newspapers
2. October 29, 1914 Receivership
Newspaper Excerpt
Citizen's Bank of Murray Goes Bad ... It was placed in the hands of the State Banking Commissioner T. J. Smith.
Source
newspapers

Newspaper Articles (6)

Article from Norwich Bulletin, October 27, 1914

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Article Text

Kentucky Bank Closed by Directors Frankfort, Ky., Oct. 26.-The Citizens Bank at Murray, Ky., was closed today by the directors, who announced that the suspension was due to inability to realize quickly on its assets. The bank was organized in Its 1902, with a capital of $35,000. last published report in June showed deposits of $110,000. - No statement of assets and liabilities will be made until after an examination of the books.


Article from The Anderson Daily Intelligencer, October 27, 1914

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Article Text

Bank Closes Down. FRANKFORT, KY., Oct. 26.-Directors of the Citizens bank at Murray, Ky., closed the institution today, announcing that suspension was due to the inability to realize quickly on assets. The bank was capitalized at $35,000. Its last published report showed deposits of $110,000.


Article from The Fairmont West Virginian, October 27, 1914

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Article Text

BANK CLOSED DOORS. FRANKFORT, Ky., Oct. 27.-The Citizens Bank at Murray, Ky., was closed today by the directors, who announced that the suspension was due to inability to realize quickly on its assets. The bank was organized in 1902 with a capital of $35,000.


Article from The Birmingham Age-Herald, October 27, 1914

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Article Text

Bank Suspends Frankfort, Ky., October 26.-Directors of the Citizens' bank at Murray, Ky. closed the institution today, announcing that suspension was due to the inability to realize quickly on assets. The bank was capitalized at $35,000. Its last published report showed deposits of $110.100.


Article from The Citizen, October 29, 1914

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Article Text

Convict Goes Unguarded Recently a convict of the state penitentiary who is serving a sentence of from two to twenty-one years was allowed to go to Jackson unguarded to attend a trial as a witness in the case of the Commonwealth against Isaac Miller. The convict was the first to have gone from the city of Frankfort unguarded. Coal Fields Near Hazard The East Tennessee Coal Company is now developing a 7,800 acre field a short distance from Hazard, and has built a spur from the L. & N. to their mine. The Ashless Coal Co. is opening a field, the capacity of which is estimated at 1,500 tons per day. The Wolf Valley Coal Company is renewing their work under a new management. They expect soon to have an output of a thousand tons daily. Y. M. C. A. Meets at Winchester The State Student Conference of the Y. M. C. A. will be held at Winchester November 6, 7 and 8. About one hundred and fifty delegates will attend. The schools represented will be Berea, Cumberland, Bethel, Eastern Kentucky Normal, Georgetown, Kentucky Military Institute, William Lindsay Training School, Presbyterian Theological Seminary, Baptist Theological Seminary, Sue Bennett Memorial School, Union College, Transylvania University, University of Louisville, State University, Vanderbilt Training School and Kentucky Wesleyan. Large Horse Shipment Lexington, Ky., Oct. 26.-One thousand horses were bought in the surrounding country for use in the allies army. They are to be shipped to Baltimore, from there to France. It is said that there are warships just outside the neutral zone which will convey them to their destination. Citizen's Bank of Murray Goes Bad On the morning of the 26th the Citizen's Bank of Murray, Ky., suspended business because it was unable to realize on its assests to meet immediate obligations. It was organized with a capital of $39,550.00 in 1902. It was placed in the hands of the State Banking Commissioner T. J. Smith.


Article from Hopkinsville Kentuckian, October 29, 1914

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Article Text

CITIZENS' BANK AT MURRAY CLOSED Fram kfort, Ky., Oct. 28 -Directors of the Citizens' bank at Murray, closed the institution Monday, announcing that suspension was due to the inability to realize quickly on assets. The bank was capitalized at $35,000 Its last pub ished report showed deposits of $110,000