City National Bank - Battle Creek, MI

Bank Information

Episode Type: Suspension → Reopening
Bank Type: national
Bank ID: 11852
Charter Number: 11852
Start Date: March 1, 1933*
Location: Battle Creek, Michigan (42.321, -85.180)

Metadata

Model: gpt-5-mini
Short Digest: 00bab33a

Response Measures

None

Description

Article (Aug 25, 1933) refers to deposits being paid out since the original Michigan bank holiday and states 100% of City National deposits will be released with opening of a new bank. No mention of a depositor run; suspension appears to be a government-imposed bank holiday with later resumption/partial release of deposits.

Events (2)

1. March 1, 1933* Suspension

Cause: Government Action
Cause Details: Closure during the Michigan state-wide bank holiday (March 1933) leading to impounded deposits
Newspaper Excerpt: Approximately $4,000,000 in deposits were paid out to depositors since the original Michigan bank holiday
Source: newspapers

2. August 25, 1933 Other

Newspaper Excerpt: the release of 100 per cent of the deposits of the City National ... will be made available with the opening of the new bank and the release of 100 per cent of the deposits of the City National and 50 per cent of the deposits of the Old Merchants National banks, they declared
Source: newspapers

Newspaper Articles (1)

1. August 25, 1933 Battle Creek Moon-Journal Battle Creek, MI

Article from Battle Creek Moon-Journal, August 25, 1933

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Article Text

Final Push In New Bank Stock Campaign Is On Strenuous efforts are being made by members of the workers' committee complete the $750,000 stock subscription campaign for the proposed National Bank of Battle Creek by Saturday night. Although detailed report on the amount of stock remaining to be sold has been made. it was believed to be about 350 shares, representing $43,750. Officials of the bank committee. in discussing prospects for the pro. posed banking institution. pointed out that approximately $11,000.000 will be available in the community for potential deposit in the bank upon its opening. Approximately $4,000,000 in deposits were paid out to depositors since the original Michigan bank holiday, and an additional $7,000,000 will be made available with the opening of the new bank and the release of 100 per cent of the deposits of the City National and 50 per cent of the deposits of the Old Merchants National banks, they declared Bank organization workers com pared this total of approximately $11,000,000 with the fact that in Jackson only 30 per cent of the impounded $30,000,000 deposits have been made available, while in Grand Rapids $6,000,000 was made available on $12,000,000 of deposits. The workers also pointed out that with the $250,000 subscription to bank stock made by the Kellogg interests, the remaining amount of $500,000 required locally amounted to only per cent of the impounded assets.