Citizens State Bank (Royal, NE)

Episode Information

Episode UID
76096371487
Episode Type
Suspension β†’ Closure
Bank Type
state
Bank ID
7609637 routing
Routing Number
76-0963
Start Date
November 15, 1923
Location
Royal, Nebraska (42.332, -98.126)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c1f1b186e0445d48

Response Measures

None

Events (3)

1. November 15, 1923 Suspension
Cause Details
Bank closed abruptly by order/decision indicated by a telegram; no run or government action mentioned.
Newspaper Excerpt
BANK CLOSES DOORS Lincoln, Neb., Nov. 15.β€”The Citizens State bank of Royal closed today according to a telegram.
Source
newspapers
2. April 10, 1924 Receivership
Newspaper Excerpt
Receiver Rollie W. Ley of the Citizens State Bank, Royal. Receiver Emil Folda, Atlas Bank.
Source
newspapers
3. May 2, 1924 Other
Newspaper Excerpt
An order of District Judge Welch, dated May 2, has just been filed ... authorizing him to sell receiver's certificates to raise money to pay depositors of these banks ... in the Citizens' bank for $19,471.01.
Source
newspapers

Newspaper Articles (4)

Article from Albuquerque Journal, November 16, 1923

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Article Text

TWO PRESIDENTS HERE NEXT MAY, AIM OF CHAMBER Delegations Will Attempt to Bring Coolidge and Obregon for Good Roads Convention Delegations to Washington and to the City of Mexico will make a vigorous effort to bring President Coolidge and President Obregon to Albuquerque for the annual convention of the National Good Roads association here next May. This plan was announced Thursday night at the meeting at the Elks club called by the Chamber of Commerce to prepare convention plans. "I believe that a commission to Washington could make President Coolidge see the justice of his attendance, not only as a courtesy but as a duty to the west," declared former Governor O. A. Larrazolo. "And I believe I am in a position to assure you that a commission to the City of Mexico can secure the consent of President Obregon to come. "The presence here on the same day of the heads of these two great neighboring nations would advertise Albuquerque and the state of New Mexico from the east to the west and from the north to the south of this country." Will Advertise City Mr. Larrazolo laid great emphasis on the advertising advantages to be attained by the city and state through this convention. He pointed out that the gathering will attract distinguished men from every stateβ€”governors, congressmen and senators. He pledged that all citizens and all organizations join hands in co-operation to make the convention "a history-making epoch" and "the largest national convention ever held in the United States or ever to be held in the United States." Arthur Prager, president of the Chamber of Commerce, announced that it would be necessary to raise $10,000 in order adequately to provide for entertainment of visiting delegates and properly to advertise Albuquerque as the convention city. Men Pledge Help More than fifty men stood on their feet on call by President Prager and with uplifted right hands repeated in unison a pledge that they would give "one day next week, from 8 a. m. to 6 p. m., without dinner if necessary, to work on a drive to raise $10,000 for the good roads convention." All arrangements and preparatory work for the convention are to be done through the Chamber of Commerce, other organizations working through the chamber as the central body, it was decided. President Prager announced that convention sessions would be held in the new Barnett theater and that the armory would be used for the display of road machinery and other exhibits. The campaign for funds will take place some day about the middle of next week. The executive committee in charge of convention arrangements follows: President Prager and Secretary D. B. McKee of the Chamber of Commerce, ex-officio members, M. T. Grier, Allen E. Bruce, O. A. Matson, Felipe Hubbell, A. R. Hebenstreit, C. P. Anderson and Dr. C. A. Eller. Larrazolo for Federal Aid Speaking of New Mexico's problem in the construction of new and improved highways, former Governor Larrazolo stressed the importance of obtaining federal aid in this work. Referring to the objection of some that federal aid was paternalism, Mr. Larrazolo declared: "I would agree with those who hold that federal aid is paternalism if New Mexico had been admitted into the union on the same footing as the original thirteen states. But in those states the federal government owns not one inch of land. Ownership of the soil is the insignia of state sovereignty. The federal government is not even paying the interest on the debt it owes to these western states. "The federal government holds over 40 per cent of the lands in New Mexico. Until we again have those lands, the claim to which was relinquished when New Mexico obtained statehood, we must say to the federal government 'We are building roads on our 60 per cent and on your 40 per cent. You must help us'." BANK CLOSES DOORS Lincoln, Neb., Nov. 15.β€”The Citizens State bank of Royal closed today according to a telegram.


Article from The Neligh Register, April 10, 1924

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Article Text

A. R. Oleson, Wisner; A. E. Beach, Pierce. Receiver Rollie W. Ley of the Citizens State Bank, Royal. Receiver Emil Folda, Atlas Bank. Judge Welch, Presiding.


Article from Neligh Leader, April 11, 1924

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Article Text

BANK CASES ARE UP Contest Claims on Accounts of Excess Interest COURT SUSTAINS PLEA Remainder of Week Likely to be Occupied With Royal and Atlas Bank Cases District court, Judge Welch presiding, convened Wednesday and after the call of the docket, taking defaults and ruling on motions settled down to hear cases growing out of the failure of the Citizens State bank of Royal and the Atlas bank of Neligh. These cases are likely to consume the greater portion, if not all, of this week. Receiver Folda objected to making certain claims as charged against the guaranty fund on account of the payment of more than 5 percent interest and where proven the court sustained the contention. One case of this kind from Royal is a particularly hard one. Mrs. Schaffer had a time certificate for $3,760. She had ceased to receive the excess interest but in the past it was shown that on all but $350 of the claim she had received a half percent more than the legal rate at one time and on account of this loses all but the $350, or rather all but that amount becomes a general claim against the bank, which is of doubtful value. This money represented savings, a little at a time. While the loss on account of the small gain seems hard, it is the law and the court had no recourse except to rule as it did. Following are the claims which under the ruling are not a lien on the guaranty fund: C. B. Punteney ...... $17,360.63 Eva M. Lang ...... 2,736.43 I. H. Williams ...... 1,308.54 Sadie Schaffer ...... 3,760.00 Edward Steinbock ...... 600.00 Martha Steinbock ...... 600.00 Claims of Leon Newton for $4,200 and a further claim of $18,000 of C. B. Punteney are still pending as the Leader goes to press and are objected to on the same grounds as the claims disallowed. Following is the detailed proceedings: The Neligh State Bank vs. Chas. Petersen, et al. Defendants defaulted. Suggestion of bankruptcy against Chas. Petersen and further proceedings against him suspended. Judgment per stipulation against Defendant Matilda Petersen as of December 4, 1923. Farmers State Bank vs. T. C. Hagedorn, et al. On motion deficiency judgment against Mabel D. Hagedorn entered Feb. 21, 1924, set aside. Neligh State Bank vs. Chas. Petersen, et al. Judgment of December 4, 1923, set aside on motion of defendant Matilda Petersen. Eldridge D. Kilbourn vs. Thomas Pexton. Dismissed by plaintiff at plaintiff's costs. State of Nebraska vs. Herman Bronowski, continued by agreement. Helen M. Dixon, administratrix vs. State Bank Clearwater, jury waived and case set for trial to court. State of Nebraska vs. M. Drury, case ordered stricken from Docket. Conservative Savings & Loan Association vs. Roy J. Hering, et al, sheriff's sale confirmed and deed ordered. Proceeds of sale applied first to payment of costs and balance on amount due plaintiff. Sheriff ordered to put purchaser in possession. Hans Peterson vs. Albert Lorenzen, dismissed by plaintiff at plaintiff's costs. Midwest Life Ins. Co., vs. John Forbes, et al, defendants defaulted, finding for plaintiff, decree of foreclosure as prayed, sale ordered. Theodore Loveland et al vs. J. L. Stringfellow, et al, defendant given until April 14, 1924, to file amended answer. Theodore Loveland et al, vs. A. C. Smith, defendant given until April 14, 1924 to file amended answer. Nellie Bennett vs. Rufus Bennett, dismissed for want of prosecution. Howard Kester vs. R. G. Kryger, settled and dismissed at plaintiff's costs. Christena Winder et al. vs. Henry Thomsen, et al, plaintiff given leave to amend petition by interlineation to make Atlas Bank and Emil Folda as Receiver, parties defendant. Joseph Grimme vs. Agnes Kohle et al, defendants defaulted, trial to court. Finding for plaintiff, decree confirming shares as alleged and for partition. R. H. Rice appointed referee to make partition. The Omaha Trust Co., vs. W. H. Palmer, et al, dismissed by plaintiff at plaintiff's costs. The Antelope County Bank vs. F. A. Elwood, defendant defaulted, trial to court, finding for plaintiff, judgment on findings. First National Bank of Sioux City, Iowa, vs. George A. Anderson et al, dismissed by plaintiff without prejudice at plaintiff's costs. J. J. Melick et al, vs. Oscar D. Miller, et al, the death of Lucile Miller, defendant, suggested. Plaintiff dismisses as to said Lucile Miller and her estate. Herman Schuman et al vs. Charles V. Anderson, motion for security for costs confessed, plaintiff given until April 10, 1924 at 10 a. m. to comply. First National Bank Elgin vs. John B. Robinson, defendants defaulted, finding for plaintiff, decree of foreclosure and sale as prayed. George W. Randall vs. John C. W. Rost et al, defendants defaulted, finding for plaintiff, decree of foreclosure and sale as prayed. Edmond C. Rector vs. George Gutru et al, Plaintiff given leave to file amended petition within twenty days. Out of town attorneys in attendance: W. P. Cowan, Stanton. Webb Rice, Norfolk. Chas. Kelsey, Norfolk. Fred S. Berry, Wayne. H. F. Barnhart, Norfolk. J. W. Kinsinger, Lincoln. A. R. Oleson, Wisner. A. E. Beach, Pierce. Receiver Rollie W. Ley of the Citizens State Bank, Royal. Receiver Emil Folda, Atlas Bank. Judge Welch presiding.


Article from The Lincoln Star, May 31, 1924

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Article Text

Bank Receiver to Pay Large Amount (Special to The Star) NELIGH, Neb., May 31.β€”An order of District Judge Welch, dated May 2, has just been filed with the clerk of the district court by the receivers of the Atlas bank of Neligh and the Citizens' State bank of Royal, authorizing him to sell receiver's certificates to raise money to pay depositors of these banks whose claims have been allowed by the court. The order in the Atlas bank case is for $766,447.16 and in the Citizens' bank for $19,471.01. Judge Welch expects to be here next Monday to hear evidence on a few claims of depositors not yet passed upon and to which the receiver objects.