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Run Causes Missouri Bank Close Its Doors
March Citizens Trust pany of Caruthersville failed to doors today. Officials said sound tion, but had been closed beThe statement of the bank showed of $307.time and $32,000. Capitalization was $100,000.
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Press. JEFFERSON CITY, Mo., March Citizens Trust Company Pemiscot county, total has closed its board of tors, the finance department was notified today. bank The was closed Saturday, but the letter porting closing the department here until this morning. Duncan, state bank iner, has been to take charge the According to the last statement the bank had $100,000 capital, $44,000 surplus, deposits, $12,undivided profits, $456,687 loans and bills payable. Cunningham president McCloskey secretary the closed institution. In the letter to Cantley, reportthe action of the board rectors was said that "continuthe reason for the closing. Cunningham lost in fire recently that destroyed much of his estate interests. was the twelfth bank to close year in Missouri.
CARUTHERSVILLE, Mo., March Citizens Trust Company of Caruthersville failed open its doors today. Officials of the bank the institution in sound condition, but that had been clos because of run, which started Saturday No immediate announcement whether efforts would made to reopen the trust comnotice was posted today directors decided close the institution "because of small Saturday. The notice said the directors feared the would continue the bank remained for open business. Cunningham president the trust company and Closkey the cashier. The last statement of the bank, showing condition of December 1929, showed demand deposits time deposits $64, and surplus of $32,000. capitalization was $100,000.
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Run Causes Bank to Close Jefferson City, Mo., Mar. 10 (E.P.)A run on the institution forced the Citizens Trust Company of Caruthersville to close today, S. L. Cantley of the state finance department was in-
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Caruthersville. Mo., March 11 The Citizens Trust Company of Caruthersville failed to open its doors yesterday. Officials of the bank said the institution was in sound condition. but that it had been closed because of a run which started Saturday.
The last statement of the bank, showing the condition as of December 31. 1929, showed demand deposits of $307,364.85; time deposits of $64,679.95 and a surplus of $32,000. The capitalization was $100,000.
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Run Causes Missouri Bank Close Its Doors
Mo. March Citizens Trust pany of Caruthersville failed to doors today. Officials said the instiution was in sound condi tion. but had been closed because of The statement of the bank deposits time and of $32,000. Capitalization was $100,000
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Citizens Trust Company ruthersville Closed By Its Directors This Morning.
DUNCAN TAKES CHARGE OF CLOSED
President of Bank Lost Heavily in Fire That Recently Destroyed Some of His Property.
Jefferson City, Mar. Citizens Trust Company of Caruthersville, in Pemiscot county, with $551.158 total resources, has been closed its board of directors, the state finance department was notified today. The bank was closed Saturday, but the letter reporting the closing not received at the department here until this morning Dunean, state bank examiner, has been sent to take charge for the department. According the last statement. the bank had $100,000 capital, surplus, deposits, undivided profits, $456,687 loans $35,000 bills Cunningham president and McCloskey secretary of the closed institution. In the letter Cantley, state finance commissioner. reporting the action of the board of said that "continuous the reason for the closing. Cunningham lost in fire recently that destroyed much of his real estate interests. was the twelfth bank to close this year in
Run Responsible March 10. The Citizens Trust Company of Caruthersville failed to open its today. Officials of the bank said the institution in sound condition, that had been closed because run which started Saturday. No immediate was made to whether efforts would to reopen the trust company notice was posted today saying the directors had decided to close the institution "because small Saturday. The notice said the directors feared the run would continue if the bank remained open for business. Cunningham president of the trust company and Closkey was the cashier. The last statement of the bank. showing condition of Dec. 1929, showed demand deposits of time deposits of $64,and surplus of $32,000. The was
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CARUTHERSVILLE, MO., BANK CLOSES TO CHECK HEAVY RUN
Jefferson City, Mo., March 10.-A run on the institution forced the Citizens Trust Company of Caruthersville to close today, S. L. Cantley of the State Finance Department was informed. The run began sometime ago but caused the directors to close the bank today to protect it and the depositors, the directors informed Cantley. The bank had total resources of $551,158; capital of $100,000; loans of $451,000. and deposits of $327,000. F. J Cunningham is president and J. W. McCloskey cashier of the bank. The directors expect to reopen the bank. C. M. Duncan, state bank examiner, was sent to Caruthersville to
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Citizens Trust Company at Caruthersville Closed by Its Directors.
Jefferson City, Mar. 10.-The Citizens Trust Company of Caruthersville, in Pemiscot county, with $551,158 total resources, has been closed by its board of directors, the state finance department was notified today. The bank was closed Saturday, but the letter reporting the closing was not received at the department here until this morning. C. M. Duncan, state bank examiner, has been sent to take charge for the department. According to the last statement, the bank had $100,000 capital, $44,000 surplus, $372,000 deposits, $12,000 undivided profits, $456,687 loans and $35,000 bills payable. F. J. Cunningham is president and J. W. McClockey secretary of the closed institution. In the letter to S. L. Cantley, state finance commissioner, reporting the action of the board of directors, it was said that a "continuous run" was the reason for the closing. Cunningham lost $50,000 in a fire recently that destroyed much of his real estate interests. It was the twelfth bank to close this year in Missouri.
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TO CLOSE ITS DOORS RUN CAUSES BANK
The Associated Press. JEFFERSON CITY, Mo., March Citizens Trust Company Caruthersville, Pemiscot county, $551,158 total has closed by its board directors, the state finance department notified today. The bank closed Saturday, the letter the closing ceived the department here until morning. Duncan, state bank been sent to take charge the the last statement the bank had capital, surplus, $372,000 deposits, undivided profits, $456,687 loans $35.00 bills payable. Cunningham president McCloskey secretary closed institution. In the letter Cantley, reportthe action of the board rectors it was that the for the closing. Cunningham lost $50,000 fire recently destroyed much his estate interests. bank Missouri.
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Caruthersville, March 11.-C. M Duncan and C. V. Estes of the State Finance Department, arrived here today to take over the affairs of the defunct Citizens Trust Company, which failed to open for business Monday morning. Duncan is in charge of the work of checking the bank's affair and it will probably be three or four days before the work will be finished The board of directors of the bank decided to place the institution in the hands of the State Finance Department when there was a small run on the bank late Saturday afternoon and a run was feared Monday. The Citizens' Trust Company wa organized in 1913 from the old Pemiscot County Bank and F. J. Cunning ham has served as its president since its organization. J. W. McClosky was secretary of the institution. It was stated that the bank will be liquidated to safeguard all assets and it is thought that the condition of the bank is strong enough to insure the return of all the depositors money.
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NOTICE TO CREDITORS of the CITIZENS TRUST COMPANY Caruthersville, Missouri April 1930
All persons who may have claims against the Citizens Trust Company of Caruthersville, Missouri, are hereby notified to present the same to the undersigned and make proper procf thereof within four months from the above date at the banking room of the said Citizens Trust Company in Ca ruthersville, Missouri, or at the office of the Special Deputy Commissioner in charge, in Caruthersville, Missouri and they are notified that the last date for presenting said proofs will be August 9, 1930. Creditors may appear in person or by legal representatives at the office of the Special Commissioner in charge, in Caruthersville, Missouri, where the necessary blanks will be furnished and assistance given without expense to claimant.
L. CANTLEY, of Finance of the State of Missouri, in charge of the business and property of said Citizens Trust Company, Caruthersville, Missouri. 4-8-3m
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Doors Shut After Run
The First National Bank of Caruclosed Tuesday ten-day on the bank and deposits The bank was about ago national bank. of the banks Arkansas to have caused the run. The bank to sound condicording reports tion. Deposits about when the bank closed its doors.
Citizens Trust Company of closed March and being liquidated. bank in that city the Bank of Caruthersville which of the strongest in Southeast Missouri.
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The First National Bank of Caruthersville closed its doors Tuesday afternoon after a 10-day run on the bank had depleted its cash reserve and deposits of $100,000. The bank was reorganized about 10 years ago as a national bank. Its capital stock was $50,000, the surplus $25,000 and it had undivided profits on Sept. 24 amounting to $19, 000. The failure of banks in Arkansas, Tennessee and Kentucky and several in Southeast Missouri is thought to have caused the slow run. Before then the bank had cash on hand amounting to $117,551, $80,000 in bonds and securities and deposits of $508,672.20 with no bills payable. Deposits had dwindled to about $380, 000 when the bank closed its doors. The Citizens Trust Co., closed March 8 and is being liquidated now. The Bank of Caruthersville is the only bank left there, and is one of the strongest and largest financial institutions in Southeast Missouri.
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Run Depletes Cash Reserves Deposits of $100,000: One Bank Left.
Mo., November First National Bank of Caruthersville closed its doors this afternoon after 10-day run on the bank had depleted its cash reserve and deposits of $100,000 The bank was reorganized about 10 years national bank. Its capital stock was $50,000. the surplus and had divided profits Sept. amounting to $19,000. The failure of banks in Arkansas, and Kentucky and several in Southeast Missouri thought to have caused the slow run. Before then the bank had cash hand amounting to $80,000 bonds and curities. deposits of $508.672.20 with bills payable Deposits had about $380.000 when the bank closed its doors. The Citizens Trust Co., closed March and being liquidated now. The Bank of Caruthersville the only bank here, is of the strongest and largest financial institutions in Southeast Missouri.