7513. Citizens Bank (Jennings, LA)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
January 19, 1905
Location
Jennings, Louisiana (30.222, -92.657)

Metadata

Model
gpt-5-mini
Short Digest
9a69b120

Response Measures

Full suspension

Other: Commissioners appointed to liquidate; receiver/commissioners named by court

Description

Multiple articles (Jan 1905) report a heavy run on the Citizens Bank of Jennings leading to its doors being closed on Jan 19, 1905. A New Orleans correspondent's refusal to handle future checks is cited as the immediate precipitant; a court later declared the bank insolvent and appointed commissioners to liquidate affairs (late Jan 1905).

Events (3)
1. January 19, 1905 Run
Cause
Correspondent
Cause Details
Heavy withdrawals for several days; bank correspondent in New Orleans notified management that all future checks would be protested, precipitating the run/closure.
Newspaper Excerpt
There has been a heavy run on the bank for the last three days
Source
newspapers
2. January 19, 1905 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was driven into suspension after heavy runs and correspondent refused to handle checks; later declared insolvent by court and commissioners appointed to liquidate assets.
Newspaper Excerpt
The doors of the Citizens' Bank were closed to-day. ... The Citizens' Bank here was closed to-day.
Source
newspapers
3. January 27, 1905 Receivership
Newspaper Excerpt
Judge Miller ... granted ... a judgment of insolvency, and appointed two commissioners to wind up the affairs of the bank. Commissioners will liquidate the affairs of the bank.
Source
newspapers

Newspaper Articles (4)
1. January 20, 1905 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, January 20, 1905

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Article Text

BRIEF CITY NEWS. JENNINGS, La.. Jan. 19.-The doors of the Citizens' Bank were closed to-day. There has been a heavy drain on the bank for the past three days. LOSES HIS ARM.-Joseph Donnelly, a laborer, was run down yesterday by a sand train at Kentucky and Sixteenth streets. One arm was so badly injured by the accident that amputation was necessary. GEORGE W. SCOTT WILL RETIRE.Alameda, Jan. 19.-George W. Scott, president of the Alameda Advancement Association, has announced that he will not again aspire to the position and that he will retire next month. Business reasons are given. HONOR HIS MEMORY.-Two committees, composed of the Particular Council and the Parish Conference of Sacred Heart Cherch, met at the parochial residence last night and drafted resolutions in memory of Father Hugh Lagan, late pastor of the church. ROBS HIS BROTHER-IN-LAW.- Charles Bacigalupi was arrested last evening on a charge of burglary preferred by his brotherin-law. Emil Cereghino, of 1200 Kearny street. Cereghino alleges that Bacigalupi entered his residence a short time ago and took a sealskin coat, also silverware valued at about $50. SUES FOR WIFE'S DEATH.-C. F. Large yesterday sued the Albion Lumber Company for $20,000 for the death of his wife, Mary Large. He alleges that on August 27, 1903, she became a passenger on a railroad car owned by the company in Mendocino County. A wire hung across the track which was struck by the train and pulled down a telegraph pole. The pole fell upon Mrs. Large's head and resulted in her death. CONVICTED OF FORGERY.-S. W. Vulicevitch was convicted by a jury in Judge Lawlor's court yesterday on a charge of forgery. He then pleaded guilty to a second charge. He was ordered to appear for sentence on January 28. During the last campaign he passed several forged checks on saloon-keepers, among them two on E. o. Wilkens, purporting to have been signed by Judge J. L. Troutt. Each was for $2 50. He had been in trouble before.

2. January 20, 1905 The Pensacola Journal Pensacola, FL
Article from The Pensacola Journal, January 20, 1905

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Article Text

LOUISIANA BANK SUCCUMBS TO RUN Jennings, La., Jan. 19.-The Citizens Bank here was closed to-day. There has been a heavy run on the bank for the last three days, but the officers declare the assets will exceed the liabilities by $70,000. Commissioners will liquidate the affairs of the bank

3. January 27, 1905 The Rice Belt Journal Welsh, LA
Article from The Rice Belt Journal, January 27, 1905

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Article Text

CITIZENS BANK IS INSULVENT. Statement of the Condition of That Defunct Institution at Jeanings. Relative to the closing of the doors of the Citizens Bank at Jennings Thursday of last week, it is learned that there had been a heavy run on the bank for several days past and it was in a seriously crippled condition, when Thursday morning the bank correspondent in New Orleans notified the management that all future checks from them would be protested. The doors were then ordered closed. The Citizens bank was the oldest banking intitution in Jennings, having been established about twelve years ago. The officers were E. I. Hall, president, and J.H. Hoffman, cashier. It owned a fine brick bulding that was built two years ago at a cost of $40,000. Tuesday's American contained an account of the action of Judge Miller in the case, as follows: Judge Miller in the district court here this morning granted in the case of the Citizen's Bank of Jennings, a judgment of insolvency, and appointed two commissioners to wind up the affairs of the bank. The commissioners named were, Frank Roberts, of the Calcasien National bank, of this city, and A. F. Derouen, and their bond was fixed at $10,000 in solide. This action was taken on the petition of Jasper Dalby, The E. F. Walker Gro. Co., Ltd., George W. Justman and A. L. Binford, depositors. Besides a judgment declaring bank insolvent and naming the commissioners, the court ordered J. C. St. Germain to make a full and complete inventory of all the property, rights and creditors belonging to the bank, to be assisted by A. C. Spencer and L. W. Dalby as appraisers. Messrs. McCoy & Moss were the attorneys. Attached to the petition was a document showing some interesting figures, brought out by a resolution passed at an adjourned meeting of the stockholders held last Monday, which called for a thorough canvass of all the S notes and overdrafts of the bank. Following are the figures: ASSETS.

4. January 28, 1905 The Donaldsonville Chief Donaldsonville, Gonzales, LA
Article from The Donaldsonville Chief, January 28, 1905

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Article Text

AROUND THE STATE. Items of Interest Culled From the Louisiana Press. Jackson to Contest Removal of Centenary. Bank at Jennings Suspends-Expert Cracksmen at Work-Big Sale of Timber Land. The postoffice at Slaughter was robbed of $350. The Citizens' Bank at Jennings closed its doors. Miss Mattie Terrell dropped dead on the street at Monroe. A receiver has been asked for the Enterprise Rice Company at Lake Charles. At least twelve normal institutes for public school teachers will be held in Louisiana during the summer. The police jury of Catahoula parish reduced the amount of the parish school tax from 3 mills to 11 mills. The population of the state penitentiary at the close of 1904 numbered 1393, an increase of 132 for the year. The safe in the T. and P. station at Port Allen was dynamited by cracksmen. Nothing of value was secured. Forty thousand acres of timber land in Vernon and Calcasieu parishes were sold to a Kansas City lumber company for $1,100,000. The Louisiana railroad commission has been asked for a ruling on the law relative to railroad switches and spurs for private use. Prof. B. H. Guilbeau has been elected director of the biologic station in Cameron parish to succeed Prof. H. A. Morgan, resigned. At a mass meeting of farmers held in Winnsboro it was agreed to reduce the acreage of the cotton crop 15 per cent during the current year. The Bossier levee board sold to the Germania Savings Bank and Trust Co., of New Orleans, $50,000 worth of bonds at a premium of $2510. An invitation was extended to the National Good Roads Association, in session at Jacksonville, Fla., to hold its next convention at Baton Rouge. C. M. Duff was fined $25 for interfering with the local company of the L. S. N. G. at Lake Charles. The state may also prefer charges against Duff. U. P. Upton, a Lafayette merchant, was buncoed out of $20 at Shreveport by betting that he could open a lock which, a few minutes before, he had worked easily. The progressive league of Jackson appointed a committee to solicit funds and employ counsel to fight the proposed removal of Centenary College to Shreveport. John Hinton, 27 years old, is dead, and his brother-in-law, John Holliman, aged 28 years, is dying, as the result of a bloody pistol duel in the little town of Knowles. The East Louisiana Railroad, recently purchased by the Great Southern Lumber Company, is being extended from Covington to a new town named Folsom, sixteen miles south of Franklinton. Representative Broussard, of Louisiana, introduced a bill into congress creating a board of engineers to consider the advisability of divorcing the Mississippi river from the Red and Atchafalaya rivers. Annual conventions of the Southern Interstate Cotton Growers' Association, the Southern States Bankers' Association, the Southern Lumber Manufacturers' Association and the Cotton States Commissioners of Agriculture were held in New Orleans during the past week.