Cooper County Bank - Bunceton, MO

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: June 17, 1932
Location: Bunceton, Missouri (38.788, -92.799)

Metadata

Model: gpt-5-mini
Short Digest: 9e5d92c4

Response Measures

Full suspension, Books examined

Other: Receiver appointed and litigation by state finance commissioner; $5 per day withdrawal limit imposed before closing.

Description

A run began mid-June 1932, bank limited withdrawals and was closed by its board on June 21, 1932. A state examiner/receiver was assigned and later the state finance commissioner filed suit against directors. No reopening is reported.

Events (4)

1. June 17, 1932 Run

Cause: Local Banks
Cause Details: Withdrawals and depositor nervousness apparently related to nearby bank failures/closures in the county and regional banking distress.
Measures: $5 per day withdrawal limit imposed by officers
Newspaper Excerpt: A run started on the bank Friday led officers to place a $5 limit a day on depositors' withdrawals.
Source: newspapers

2. June 21, 1932 Suspension

Cause Details: Board of directors closed the bank after heavy withdrawals; no specific insolvency reason given in article.
Newspaper Excerpt: The Cooper County State Bank at Bunceton was closed today by its board of directors.
Source: newspapers

3. July 13, 1932 Receivership

Newspaper Excerpt: Schaumburg... appointed receiver Cooper State Bank Bunceton by the state finance department, took charge the latter part of last week. Arthur Blomquist, cashier, assisting Mr. Schaumburg in work.
Source: newspapers

4. August 26, 1932 Other

Newspaper Excerpt: State Financial Commissioner Files Suit In Circuit Court... suit for [recovery] against those the directors the defunct Bank of Bunceton... filed in Cooper County Circuit Court yesterday.
Source: newspapers

Newspaper Articles (4)

1. June 23, 1932 The Milan Standard Milan, MO

Article from The Milan Standard, June 23, 1932

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Article Text

A BUNCETON, MO., BANK CLOSES. Bunceton, Mo., June 21.-The Cooper County State Bank at Bunceton was closed today by its board of directors. No reason was given. The bank had total resources of $343,556; loans, $293,700; deposits, $279,- 500, and capital stock of $20,000. A run started on the bank Friday led officers to place a $5 limit a day on depositors' withdrawals. F. C. Betteridge is presi- dent and A. Blomquist, cashier. The Boonville National Bank at Boonville, seat of Cooper county, was closed Thursday by order of a national who Nelson, drowned March 13 in the Lake of the Ozarks, was president. Reorganization plans almost were completed when the bank was ordered closed. George U. Freund, state bank examiner, was assigned late today to take charge of the Cooper County State Bank.

2. July 13, 1932 The Boonville Daily News Boonville, MO

Article from The Boonville Daily News, July 13, 1932

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Article Text

Takes Over Work As Bank Receiver Schaumburg of Boonville Will Be Assisted by Blomquist Bunceton Institution. Schaumburg, who appointed receiver Cooper State Bank Bunceton by the state finance department, took charge the latter part of last week. Arthur Blomquist, cashier of the assisting Mr. Schaumburg in work.

3. August 26, 1932 The Boonville Daily News Boonville, MO

Article from The Boonville Daily News, August 26, 1932

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Article Text

State Financial Commissioner Files Suit In Circuit Court. suit for against those the directors the defunct Bank of Bunceton, growing of the closing of the Cooper County State Bank Bunceton, was filed in Cooper County Circuit Court yesterday. The suit filed by Harriscommissioner of finance of the State Missouri, in charge of the assets and affairs of the Cooper County State Bank, against son Leonard, Arthur Blomquist, Snode Morris, Twillman, Geo. K. Crawford, George A. Carpenter and Arthur W. Nelson, ministrator of the estate of Arthur Nelson. deceased. The plaintiff claims that the mondue on the basis of contracts entered into by the Bank of Bunceand the Cooper County Bank for the liquidation of the assets of the Cooper County Bank. Attorneys for the plaintiff are Roach and Roach of Jefferson City, Roy Williams, and Schaumburg of Boonville. The petition and its attached hibits make 39 typewritten pages. Cornstalk Has Eight Ears Martinez, cornstalk has been produced the Gianella Brothers ranch here. With central ear of large proportions rising from the center the stem, there clustered about other five of which are almost equal in size to the central

4. August 26, 1932 The Boonville Daily News Boonville, MO

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Article Text

To Continue Flight. Port Menier, Anticosti, Island. George Hutchinson and his flying family were to take off today in their hugh Sikorsamphibian plane today the third lap their leisurely flight. Their next will be Hopedale, Labrador. Head of Home Loan Bank Board Gets Treasury Aid. RECEIVERS ARE TO CO-OPERATE Requests Similar Action From State Finance Commissioners. Washington. Chairman Franklin Fort of the Home Loan Bank Board told the United Press Friday the administration was seeking 60-day moratorium on foreclosure all mortgages in the United States. Fort said the program included commerplants well as private homes, and that co-operation of financial institutions well as those in hands of as receivers would be sought. Chairman Washington, of the Home Loan Bank Board Fort announced today that treasury had agreed to order national cials bank receivers to suspend mortgage foreclosure for 60 days. He said the board today was telegraphing every state supervising authority requesting similar state bank receivers. He seekby general agreement to suspend ing foreclosures. Carlon, receiver of the BoonNational Bank, told the Daily News today that he had received no from the treasury department advising him of the tion taken at the behest of ChairFort. Harrison, state commissioner Finance of Jefferson City, sumably will receive the request regards state bank receivers. Such moratorium would affect the liquidation of the Prairie Home Bank at Prairie Home and the Cooper CounState Bank of Bunceton. The move, it is understood, is measure give the Home Loan Bank Board time get to functioneffectively, enough so to homes and commercial plants which in sixty days might be taken over in bank liquidation. The methor of working out the plan and any other details are not available the public.