Article Text
Names Receiver For Savings Bank CHARLESTON, W. Va., March 18.Late Yesterday Acting Bank Commissioner Diehl appointed Harvey Shain, of Fairmont, receiver for the Citizens Dollar Savings Bank of Fairmont, W. Va. o
Citizens Dollar Savings Bank (Fairmont, WV)
Episode Information
- Episode UID
69007871383- Episode Type
- Suspension → Closure
- Bank Type
- savings
- Bank ID
-
6900787routing - Routing Number
69-0078- Start Date
- March 18, 1915
- Location
- Fairmont, West Virginia (39.485, -80.143)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
a8994b1909fc05a5
Response Measures
None
Description
Some articles call it 'Citizens' Dollar Savings Bank' or 'Citizens Dollar Savings and Trust Company'; receiver appointed March 18, 1915.
Events (9)
1.
March 18, 1915
Receivership
- Newspaper Excerpt
- Governor Hatfield last night appointed Harvey Shain, of Fairmont, as receiver for the Citizens Dollar Savings and Trust Company of Fairmont. Shain was the former president of the Fairmont institution.
- Source
- newspapers
2.
March 18, 1915
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Bank passed into hands of a receiver due to internal insolvency related to mismanagement/embezzlement by cashier and precarious condition.
- Newspaper Excerpt
- Late Yesterday Acting Bank Commissioner Diehl appointed Harvey Shain, of Fairmont, receiver for the Citizens Dollar Savings Bank of Fairmont, W. Va.
- Source
- newspapers
3.
August 24, 1915
Other
- Newspaper Excerpt
- Suit was entered in the circuit court of Kanawha county today by Attorney General A. A. Lilly against the Citizen's Dollar Savings Bank of Fairmont and the Maryland Casualty Company, of Baltimore, to recover $15,000 of the state funds held in the bank when it passed into the hands or a receiver.
- Source
- newspapers
4.
August 25, 1915
Other
- Newspaper Excerpt
- Suit was entered in the circuit court of Kanawha county Tuesday by Attorney General A. A. Lilly against the Citizen's Dollar Savings Bank of Fairmont and the Maryland Casualty Company, of Baltimore, to recover $15,000 of the state funds held in the bank when it passed into the hands of a receiver.
- Source
- newspapers
5.
September 23, 1915
Other
- Newspaper Excerpt
- Suit filed in Kanawha County Common Pleas Court by the State against the Citizens' Dollar Savings Bank, of Fairmont, and the Maryland Casualty Company, of Baltimore, to recover $19,000 the State had on deposit at the time the bank went into the hands of a receiver.
- Source
- newspapers
6.
November 23, 1915
Other
- Newspaper Excerpt
- J. R. Lynn, former cashier of the Citizens' Dollar Savings bank, which suspended operations several months ago, was indicted on seven counts ... charged with embezzling and misplacing funds ... aggregating $120,000.
- Source
- newspapers
7.
December 26, 1916
Other
- Newspaper Excerpt
- Depositors Select Committee to Help With Liquidation of Assets; committee to advise with the receiver of the Citizens Dollar Savings bank ... receiver stated he was of the opinion that the depositors would be paid in full.
- Source
- newspapers
8.
June 28, 1917
Other
- Newspaper Excerpt
- The depositors of the Citizens' Dollar Savings Bank, which institution failed a few years ago, will within the next few weeks receive a dividend of fifty per cent of their deposits, according to a statement made by Harvey Shain, receiver of the bank.
- Source
- newspapers
9.
December 3, 1917
Other
- Newspaper Excerpt
- Case of Eugene C. Frame and E. F. Hartley vs. Harvey Shain, receiver of the Citizens' Dollar Savings Bank, of Fairmont; judgment in favor of trustees against the bank for $125,017.59.
- Source
- newspapers
Newspaper Articles (11)
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Article Text
BANK RECEIVERS Are Appointed by the Governor and Requisitions Are Honored by Him. CHARLESTON, March 18-Governor Hatfield last night appointed Harvey Shain, of Fairmont, as receiver for the Citizens Dollar Savings and Trust Company of Fairmont, and W. M. Arnold at Ravenswood, as receiver for the the McKinley Security Bank of that town. Shain was the former president of the Fairmont institution. The governor last night also honored the requisition of the governor of Virginia for Daniel Adams, now in jail at Charles Town, this state. wanted in Clark county, Va., for housebreaking. and issued a requisttion on the chief magistrate of the District of Columbia for Richard Renner, wanted in Jefferson county, where he escaped jail.
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Article Text
BANK RECEIVERS Are Appointed by the Governor and Requisitions Are Honored by Him. CHARLESTON, March 19.-Governor Hatfield has appointed Harvey Shain, of Fairmont, as receiver for the Citizens Dollar Savings and Trust Company of Fairmont, and W. M. Arnold at Ravenswood, as receiver for the the McKinley Security Bank of that town. Shain was the former president of the Fairmont institution. The governor last night also honored the requisition of the governor of Virginia for Daniel Adams, now in jail at Charles Town, this state. wanted in Clark county, Va., for housebreaking. and issued a requisttion on the chief magistrate of the District of Columbia for Richard Renner. wanted in Jefferson county, where he escaped jail.
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Article Text
SUIT ENTERED Against Defunct Fairmont Bank and Its Surety to Recover State Funds. CHARLESTON. Aug. 24.-Suit was entered in the circuit court of Kanawha county today by Attorney General A. A. Lilly against the Citizen's Dollar Savings Bank of Fairmont and the Maryland Casualty Company, of Baltimore, to recover $15,000 of the state funds held in the bank when it passed into the hands or a receiver, The proceeding is one in debt with the damages placed at $50,000. It is the object of the attorney general to recover the money from the surety without waiting for action by the receiver of the bank,
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Article Text
SUIT ENTERED Against Defunct Fairmont Bank and Its Surety to Recover State Funds. CHARLESTON, Aug. 25.-Suit was entered in the circuit court of Kanawha county Tuesday by Attorney General A. A. Lilly against the Citizen's Dollar Savings Bank of Fairmont and the Maryland Casualty Company, of Baltimore, to recover $15,000 of the state funds held in the bank when it passed into the hands of a receiver. The proceeding is one in debt with the damages placed at $50,000. It is the object of the attorney genera. to recover the money from the surety without waiting for action by the receiver of the bank,
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Article Text
State Sues Bank. Suit was brought in the common pleas court of Kanawha county by Atty. Gen. A. A. Lilly against the Citizens' Dollar Savings bank, of Fairmont, and the Maryland Casualty Co., of Baltimore, to recover $15,000 of the state's fund held in the bank when it passed into the hands of a receiver. The proceeding is one in debt with the damages placed at $50,000. It is the object of the attorney general to recover the money from the surety without waiting for action by the receiver of the bank.
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Article Text
Sensational disclosures involving State Treasurer E. L. Long, it is said, will be made in the hearing of a suit filed in Ka- nawha County Common Pleas Court by the State against the Citizens' Dollar Savings Bank, of Fairmont, and the Maryland Casualty Company, of Balti- more, to recover $19,000 the State had on deposit at the time the bank went into the hands of a receiver. The casualty company was on the bank's bond to in- demnify the State against loss, and suit was instituted by Assistant Attorney-Gen- eral Frank Lively to compel it to make im- mediate settlement. It is said the surety company will base its defense on the grounds that it had repeatedly warned the State Treasurer that the bank was in a precarious condition and notified him to withdraw the State's funds. The same warnings were given the officers of the bank. Defendant claims that in spite of its warnings Treasurer Long would not withdraw or reduce the deposits, and therefore it cannot be held responsible.
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Article Text
# CHARGES THE AGAINST CASHIER. Fairmont, W. Va.-J. R. Lynn, former cashier of the Citizens' Dollar Savings bank, which suspended operations several months ago, was indicted on seven counts in the circuit court here on charges of embezzling and misplacing funds of the institution to an amount aggregating $120,000. For a part of this money, he is charged with attempting to defraud the Davis Trust Company, of Davis, W. Va. Lynn was formerly a trustee in the First Methodist church of this city, and took an active part in politics. He was also a close follower of race horses and is said to have played the game considerably. A large number of civil suits have been instituted against Lynn involving many thousands of dollars. Prosecuting Attorney Tusca Morris had capias issued, and Lynn will be apprehended at once.
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Article Text
CITIZENS BANK MAY PAY OUT Depositors Select Committee to Help With Liquidation of Assets. A committee to advise with the receiver of the Citizens Dollar Savings bank was appointed ata meeting of the depositors held in the court house Saturday afternoon. This committee will do as much as possible to expedite the liquidation of the assets of the bank. The meeting of the depositors was attended by receiver Harvey Shain who stated that he was of the opinion that the depositors would be paid in full. The affairs of the bank were discussed thoroughly at the meeting and it was recommended by the depositors that the bank building be sold in order to help liquidate the accounts. The committee appointed to confer with the receiver and assist in the work of liquidation is as follows: John Price, Richard Fletcher, M. A. Sturm, Seth Martin, F. K. Holt, L. G. Giordano and R. J. Abbatichio. McLough acted as chairman of the meeting and R. J. Abbatichio secretary.
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Fairmont.-The depositors of the Citizens' Dollar Savings Bank, which institution failed a few years ago, will within the next few weeks receive a dividend of fifty per cent of their deposits. according to a statement made by Harvey Shain. receiver of the bank. The bank building has been sold to a syndicate.
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# TO RE-HEAR BIG # JUDGMENT CASE Smith-Race Grocery Action Goes to the Supreme Court. Supreme court of appeals at Charleston will re-hear the facts in the action of Eugene C. Frame and E. F. Hartley, trustees of the Smith-Race Grocery Company, a corporation, vs. Harvey Shain, receiver of the Citizens' Dollar Savings Bank, of Fairmont. The case was heard on March 30 last in the circuit court of Marion county and the court entered a judgment in favor of the trustees against the bank for $125,017.59. The bank, through its counsel, Attorneys Frank C. Haymond and Harry Shaw, on November 19, applied to the Supreme Court of Appeals, for an appeal and supersedeas. This morning the attorneys for the bank received word that the writ was allowed and a re-hearing would be held in January.