8535. Citizens National Bank (Mankato, MN)

View Charter #2005 on SPMC

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Bank ID
2005
Charter Number
2005
Start Date
August 1, 1893*
Location
Mankato, Minnesota (44.164, -93.999)

Metadata

Model
gpt-5-mini
Short Digest
ab597a0ef46b3f3b

Response Measures

None

Description

Articles (Sept 1893) report Citizens National Bank of Mankato closed temporarily during the 1893 panic and was given permission to resume on Sept 1, 1893. Text states the bank was safe and solvent when it closed and the suspension was to avoid a run during the prevailing panic. No actual run on this bank is described; it reopened successfully.

Events (4)
1. June 27, 1872 Chartered
Source
historical_nic
2. April 27, 1892 Voluntary Liquidation
Source
historical_nic
3. August 1, 1893* Suspension
Cause
Macro News
Cause Details
Temporary suspension taken during the nationwide 1893 panic to avoid a depositor run; bank solvent when it closed.
Newspaper Excerpt
The bank was absolutely safe and solvent when it closed its doors and temporary suspension was to avoid a run the panic that prevailed at the time.
Source
newspapers
4. September 1, 1893 Reopening
Newspaper Excerpt
The three national banks here re-opened their doors this morning after having been closed a little over a month... the Citizens' National bank took in $30,000 over the counter... Examiner C. H. Brush ... expressed the strongest confidence in the banks, which never carried a larger amount of cash than they have on hand today. During the suspension there has not been a failure in Mankato and confidence is fully restored.
Source
newspapers

Newspaper Articles (3)
1. September 7, 1893 The Comet Johnson City, TN
Article from The Comet, September 7, 1893

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Article Text

BANKS THAT HAVE RESUMED AN AVERAGE OF ONE A DAY, WITH MORE IN PROSPECT. The banks that have suspended resumed during the past two weeks, as follows: Greeley National bank, Greeley, Col., Aug. 14. Armourdale bank, Armourdale. Mo, Aug. 16. First National bank, Fort Scott, Kan., suspended July 18, resumed Aug. 16. First National bank, Rico, Col., suspended June 30, resumed Aug, 16. American National bank, Leadville, Col., closed its doors July 1, resumed Aug. 17. First National Bank, Anthony, Kan., suspended July 20, resumed Aug. 18. Union National bank, Denyer, Col., suspended July 18, resumed Aug. 21. Citizens' National bank, Attica, Ind.. Aug. 21. People's National bank, Denver, Col., suspended July 19, resumed Aug. 21. Central National bank, Pueblo, Col., suspended July 5, resumed Aug. 21. Hamilton County State bank, Fort Dodge, Ia., suspended Aug. 7, resumed Aug, 21. City Saving bank, Nashville, Tenn., Aug. 22. Henning's bank, Plain, Ill., Aug 22. First National bank, The Dalles. Ore., suspended July 31, resumed Aug. 25. Fourth National bank, Louisville, Ky., suspended July 22, resumed Aug. 26. Comptroller of the Currency Eckels has fixed the time for the resumption of several suspended banks as follows: Farmers' Exchange bank, San Bern ardino, Cal., Aug. 25. The Fall River (Wis.) bank, Aug. 25. First National (Mankato, Minn.) Sept. 1. Mankato National, Mankato, Minn., Sept. 1. Citizens' National, Mankato, Minn., Sept. 1. Permission to resume has also been given to the following banks: First National, Vernon, Tex. First National, San Marcos, Tex. First National, Lockhart Tex. The stockholders of the National, bank of Kansas City, Mo., met Friday and decided to resume busin SS.

2. September 8, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, September 8, 1893

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Article Text

MANKATO MONEY Goes Into the Re-Opened Banks rate. at a Lively MANKATO, Minn., Sept. 7. -The - three national banks here re-opened their doors this morning after having been closed a little over a month. The counters were crowded with business men and others anxious to make deposits. During the first hour and a half the Citizens' National bank took in $30,000 over the counter, and the First National and Mankato National did quite as well. There were no withdrawals. Examiner C. H. Brush left today after expressing the strongest confidence in the banks, which never carried a larger amount of cash than they have on hand today. During the suspension there has not been a failure in Mankato and confidence is fully restored.

3. September 16, 1893 The Irish Standard Minneapolis, Saint Paul, MN
Article from The Irish Standard, September 16, 1893

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Article Text

THE NORTHWEST. Important Happenings in Various Sections, as Gleaned from Our Exchanges. THE DIOCESE OF ST. CLOUD. The Feast of Its Patron Saint Celebrated With Great Solemnity Last Sunday. MINNESOTA. Professor Pendergast, of Hutchioson, bas taken the oath of office as state superintendent of public instruction. M. M. of Faribault, who has in some Mrs. been Europe Keeley, time, recently wrote a delightful description of Weetminster Abbey. John C. Nugent, an orthodox demohas been appointed at crat, postmaster the CleveBuffalo, Wright county, by land administration, The Citizens National Bank of Manof which Hon. John is has resumed kato, president, business. F. Meagher The bank was absolutely safe and solvent when it closed its doors and temporits during ary suspension was to avoid a run the panic that prevailed at the time. Mr. and Mrs. John Hughes, of West and of Brainerd, are be reaved the death of an son Duluth by formerly He infant died aged 9 months and 10 days. of cholera infantum on Aug. 28 and was buried on the following day, Rev. Father Welch conducting the funeral services. On account of the money market the Lumber company was comto shut d wn their mille at pelled Brennan Hinck- They throwing 300 men out of work. been running have ley, steadily present night time. and day all summer up to the They are the main support of the town. 5. dispatch from Canton says: The of the since was been Church closed Aesnumptiou, Christmas, which opened has last Sunday and services will be held regularly. The famous miracle, the im age which has such curative powers, is still vieible. so it is claimed by the credulous, and the pilgrimages are expected to be resumed. The recent death of Patrick Colline' Henderson, Sibley county, has re moved one of the noblest He was a native of the state. near pioueers county of the of Kerry, Ireland, and emigrated to this He country more than thirty years ago. was in the Union army and marched with Sherman to the sea. After the war he settled on a farm in Sibley county and was respected by all who knew him. He was a member of the Hancock post at Henderson, and his comrades attended the funeral in a body. Father McCarron conducted the funeral services at Jessenland. James O'Loughlin, of Maple Lake, who shot John Maroney weeks had a hearing last ago, about Saturday Maple two before Justice O'Loughlin at and was committed to Lake, jail the without grand bonds to await the action of is gaining every chances for recovery are jury. his Maroney good. day, The and defendant in the case was the Populist candidate for representative at the last and during his canvass through he made many election the county friends, have who beregret deeply that he should come involved in such a deadly altercation. Sunday, September 10, 1893, will ever stand in Catholic diocesan history as the upon which was inaugurated the of celebrating the of saint for whom day the custom patron namesday the diocese Hereand city of St. Cloud are called. after, and as long as the diocese of St. Cloud shall exist, the Sunday following the 7th day of September will be observed as the great feast of the diocese. Therefore it was that those who participated last Sunday were making history At for the many ages which will follow. 7:30 a. m, Bishop McGolrick, of Duluth, celebrated mass, at which the St. Cloud Colony of the American Sons of Columbus approached communion in a body, At did some 300 of the congregation. m. Zardetti with all the tifical 10 as a. Mass, Bishop celebrated impressive cere- Pon- solemnity of the church's beautiful monies. The following clergy assisted: Rev. J. P. Bower, assistant priest; deacon; Rev. Very Rev. C. Richter, S. J. Brogan, B., and sub-deacon; Rev. Peter, O. Rev. Gregory, o. B., deacons of honor; master of Rev. J. Meyer, sanctuary ceremonies. in There were present in the addition to the above, Rt. Rev. Bishop McGolrick, of Duluth; Rt. Rev. Bishop Seidenbusch, formerly Vicar Apostolic of