Citizens State Bank - Minneapolis, MN

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: May 17, 1893
Location: Minneapolis, Minnesota (44.980, -93.264)

Metadata

Model: gpt-5-mini
Short Digest: eeaaf9fc

Response Measures

None

Description

Article reports a suspension on May 17, 1893 due to inability to realize securities promptly; bank officials state it is solvent and expect to resume business within days, so classify as a suspension with reopening. No run is described.

Events (1)

1. May 17, 1893 Suspension

Cause Details: Temporary inability to realize securities promptly (liquidity shortage despite solvency).
Newspaper Excerpt: The Citizens' bank Forced to Suspend Yesterday. The officials declare that the bank is perfectly solvent and that the suspension is due simply to its inability to realize promptly on its securities.
Source: newspapers

Newspaper Articles (1)

1. May 18, 1893 Grand Rapids Herald Grand Rapids, MI

Article from Grand Rapids Herald, May 18, 1893

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Article Text

MINNEAPOLIS BANK The Citizens' State Bank Forced to Suspend Yesterday. MINNEAPOLIS May 17.-A good deal of surprise was manifested this morning when the Citizens' bank suspended pay ment. A notice on the door says that depositors will be paid in full. The officials declare that the bank is per feetly solvent and that the suspension is due simply to its inability to realize promptly on its securities. The Citi zens is one of the smaller state banks of this city, Its statement at the close of business May 4 shows Loans and dis counts 8178,814 cash on hand and due from banks, 860,000 deposits, 8283,913 surplus and profits, $16,800 rediscount. 070,500 Its capital is $250,000 Cashier W N Carrol says "We have more than enough to meet all demands, but it is in such shape that it cannot be obtained for a day or two By Monday at the outside our securities can be turned 80 as to resume business All depositors will be paid in full."