July 27, 1893 the Bank of Ada changed its name to The Citizens Bank and went into assignment. This bank was owned by Peter Ahlefeld and Albert B. Charles the cashier. That there was no need for this bank to fail was demonstrated by the fact that during the liquidation period all depositors received payment in full and six percent interest. Mr. Ahlefeld was never accused of any sharp practices in the accumulation of his wealth.
It's 1903 and here's Ada's Pennsylvania Railroad passenger depot, on the double-track Chicago to New York line. What's changed since then? Now there is only one track. There's only freight trains, but the depot continues its over-one-century presence in Ada. John Marshall provided this photo to the Icon.
