10052. Bank of Ava (Ava, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
January 7, 1931
Location
Ava, Missouri (36.952, -92.660)

Metadata

Model
gpt-5-mini
Short Digest
316d7174

Response Measures

None

Description

Articles report the Bank of Ava had already closed (now closed, closed several months ago) and prosecutors filed embezzlement charges after an audit found large family notes and shortages. No run or depositor panic is mentioned. The bank appears to have failed/closed and criminal and bankruptcy proceedings followed.

Events (4)

1. January 7, 1931 Other
Newspaper Excerpt
DRAFT CHARGES AFTER FAILURE OF BANK OF AVA ... file charges against Mrs Sally Adams president of the Bank ... audit revealed $221,000 in family notes ... A petition involuntary bankruptcy was filed federal Mrs. Ava, Mo..
Source
newspapers
2. January 13, 1931 Other
Newspaper Excerpt
Bring Charges Against Failed Bank's Heads ... the now closed Bank of Ava ... state audit showed $221,000 in family notes. Mrs. Adams charged with embezzlement ... Turner with embezzlement of $12,519
Source
newspapers
3. February 6, 1931 Other
Newspaper Excerpt
AVA BANKERS WIN OF TRIAL ... Sallie Adams, president the closed Bank of Ava, and her brother Frank Turner ... continuance ... preliminary hearings on charges embezzlement
Source
newspapers
4. * Suspension
Cause
Bank Specific Adverse Info
Cause Details
Audit disclosed $221,000 in family notes and shortages; alleged embezzlement by president Sallie Adams and vice-president H. Turner led to failure/closing.
Newspaper Excerpt
now closed Bank of Ava; the bank's closing several months ago
Source
newspapers

Newspaper Articles (3)

Article from Springfield Leader and Press, January 7, 1931

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Article Text

DRAFT CHARGES AFTER FAILURE OF BANK OF AVA Mrs. Adams and Brother Face Prosecution. County Attorney Announces. BasAction Upon Audit's ing Revelations Prosecuting Attorney Fred Stewof Ava this afternoon nounced definitely that he file charges against Mrs Sally Adams president of the Bank vice president in with the bank's closing several months ago announcement came Mr Stewart had studied audit of the bank, completed Saturday and Taylor of Springfield and had communicated this morning by with Attorney General Stratton Shartel Assistant General Ed Robinson and Ray Weightman signed to the case by Mr. Shartel were their Ava this afternoon to confer with Mr. Stewart garding filing of the They and Tom of employed by depositors as special assist Stewart the charges against Mrs and Turner brought to trial Audit' Basis of Charge Mr. Stewart said information tained in the bank audit would be basis of charges filed against Mrs. Adams and Turner Robinson and probably remain afternoon the with surprising charges tomorrow Arthur Curtis for the ship before closed probably charges against the Approximately $35,000 and "cash items' were taken of the bank before closed. and later returned when Mr. Cahill discovered revealed also that the bank $221,000 in "family notes, either by its officers or their relatives. at the time of the closing Bankruptcy Petition A petition involuntary ruptcy was federal Mrs Ava: Mo Hardie Washington D. Johnson ed he $750 personal against Mrs. Adams Mrs. Mrs Adams her $527 and an obligation The addition enumerated 26 upon which claimed Adams


Article from Hartford Courant, January 13, 1931

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Article Text

Bring Charges Against Failed Bank's Heads Ava, Mo., Jan. of assenting deposits in the now closed Bank of Ava, while the bank was ing filed today against Mrs. Sallie president, and her brother. H. Turner, vice-president. state audit showed $221,000 in "family notes." Mrs. Adams charged with embezzlement of and Turner with bezzlement of $12,519 in the last three years.


Article from Jefferson City Post-Tribune, February 6, 1931

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Article Text

AVA BANKERS WIN OF TRIAL Feb the vigorous of the state's Sallie Adams, dent the closed Bank of and her brother Prank Turner. vice president of the bank today continuance February 17 their preliminary hearings on charges embezzlement ceptance deposits while the bank failing. Justice the A. Kice granted the the ground that Craig of Mansone of the defense attorneys. was county the opposed deand joined by assistant state attorneys general to help crowd gathered obviously was disappointed.