Brookfield Trust Company - Brookfield, MO

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: December 1, 1924*
Location: Brookfield, Missouri (39.784, -93.074)

Metadata

Model: gpt-5-mini
Short Digest: 4c0d5771

Response Measures

None

Description

Article (Kansas City Journal, Jan 24, 1925) refers to the Brookfield Trust Company of Linn County as having failed and being used as an example of why the state should require bonds as collateral. No explicit mention of a depositor run is given; the institution is described as failed and its bonds disposed of in December (likely Dec 1924). OCR errors in the article were corrected (e.g., 'hte', 'pasin').

Events (1)

1. December 1, 1924* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Institution reportedly failed (insolvency/closure); article cites failure of the Brookfield Trust Company and disposal of its bonds in December; no run described.
Newspaper Excerpt: The wisdom of bank furnishing bonds deposits from the shown recently the state of the Brookfield Trust company Linn county. There was more than of state moneys when the Institution failed
Source: newspapers

Newspaper Articles (1)

1. January 24, 1925 Kansas City Journal Kansas City, MO

Article from Kansas City Journal, January 24, 1925

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Article Text

REQUISITES Institutions Deposits To Strict JEFFERSON CITY, MO., Jan. an dtrust companies which receive state money on deposit this year expected to be required furnish bonds collateral stead of real estate mortgages and not to receive more than agree of their deposits from one per cent believed this will be the policy the state fund effort throw an absolute an safeguard around state funds which the banks. The deposited fund commissioners are Gov. Sam Baker, Robert W. Otto Atty. and Eugene Stephens, state urer. The fund commissioners will receive bids February 10 for the money. Springfield Case Cited. The failure of the Holland Bankin Springfield more than ing company with more than caused bad situastate tion. The depositors have been $400,000 duced the liquidation of hte bank. through of However, special found there has been senate in real estate great shrinkage which mortgages were placed collateral for the state treasurer the deposits. Baker and Attorney GenGovernor eral Otto believe no real estate should be accpted by the state gages the state funds. They securing believe gilt edge bonds should placed with the guaranteee of the payment funds. Governor in his the assembly. message dwelt length the financial situaon the state. He declared tion bank's should be from deposits versified sources and that not more than cent should be from one per source. Baker Wants Law. The the pasin the absence sage he the opinion such measure banks which want to bid for the state should agree not receive money than cent of their more posits from one source. The wisdom of bank furnishing bonds deposits from the shown recently the state of the Brookfield Trust company Linn county. There was more than of state moneys when the Institution failed but has been an easy December, for Thompson, former and the present state to dispose the bonds treasurer which offered by the trust pany collateral. want to sell sought car you buyers through