Farmers Trust Company - Boonville, MO

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: trust company
Start Date: November 7, 1928
Location: Boonville, Missouri (38.974, -92.743)

Metadata

Model: gpt-5-mini
Short Digest: 9e0aa298

Response Measures

Full suspension, Books examined

Other: Bank was taken over by Old Trails Bank; state examiner directed to take charge.

Description

Article (Poplar Bluff Republican, 1928-11-08) reports a heavy run on Farmers Trust Company on Nov 7, 1928 and the bank was closed by its board and taken over Nov 8, 1928; state examiner directed to take charge and another bank organized to take over commercial business. No reason for the run was given in the article.

Events (4)

1. November 7, 1928 Run

Cause Details: Article states no reason for the heavy run was known to bank or finance department.
Newspaper Excerpt: closed today by board of rectors, following heavy run yesterday.
Source: newspapers

2. November 8, 1928 Other

Newspaper Excerpt: Old Trails Bank at Boonville, organized May 1928, take over the commercial banking business of the Farmers Trust Company of Boonville, closed today by board of rectors, following heavy run yesterday.
Source: newspapers

3. November 8, 1928 Receivership

Newspaper Excerpt: Mulligan, state bank examhas been directed to take charge.
Source: newspapers

4. November 8, 1928 Suspension

Cause Details: Bank was closed by its board following the heavy run; state bank examiner directed to take charge and another institution organized to take over business.
Newspaper Excerpt: Old Trails Bank at Boonville ... take over the commercial banking business of the Farmers Trust Company of Boonville, closed today by board of rectors
Source: newspapers

Newspaper Articles (1)

1. November 8, 1928 Poplar Bluff Republican Poplar Bluff, MO

Article from Poplar Bluff Republican, November 8, 1928

Click image to open full size in new tab

Article Text

Institution Organized Five Months Ago to Take Over Another Bank Closed. By The Associated Press. Jefferson City, Mo., Nov. Old Trails Bank at Boonville, organized May 1928, take over the commercial banking business of the Farmers Trust Company of Boonville, closed today by board of rectors, following heavy run yesterday. Notice of the closing was received at the state finance department today No reason for the run was known by officials the bank or the finance department. The institution, according to Cantley, finance commissioner was good shape, but the cleaned out all its ready cash. had total of $572,800. Mulligan, state bank examhas been directed to take charge. Creagan was president, H. Miller, cashier, and Col. Johnhead of Kemper Military Academy Boonville chairman of the board of directors probably will be made to open the institution, understood The last statement showed loans $72,000 payable, deposits. had $50,000 capital $10,000 surplus.