Bank of Carthage - Carthage, MO

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: February 8, 1876
Location: Carthage, Missouri (37.176, -94.310)

Metadata

Model: gpt-5-mini
Short Digest: 9e7383b1

Response Measures

None

Description

Article (Chicago Daily Tribune, 1876-02-11) reports charges of heavy defalcations by Peter Myers, a banker who removed to Carthage, Mo.; his partner closed the bank and creditors were seizing assets. No explicit description of a depositor run is given; the bank was closed amid embezzlement allegations and appears to remain closed (receiver/closure implied). Date approximated from article (early February 1876).

Events (1)

1. February 8, 1876 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Alleged defalcations/embezzlement by Peter Myers (charges of about $80,000), leading the partner to close the bank.
Newspaper Excerpt: the telegraph was used, and he was arrested at Council Bluffs...the first intimation he had of trouble at home was a telegram from his wife that his partner had closed the bank, and the creditors were seizing everything they could get hold of.
Source: newspapers

Newspaper Articles (1)

1. February 11, 1876 Chicago Daily Tribune Chicago, IL

Article from Chicago Daily Tribune, February 11, 1876

Click image to open full size in new tab

Article Text

THE ALLEGED MYERS DEFALCATIONS. Special Correnondence of The Chicago Tribune. DES MOINES, Feb. 8.-For several days there has been much excitement in the city, relative to charges of heavy defalcations against Peter Myers, an old setther of this county, once United States Pension Agent, and a wealthy and highly-respectable citizen. He removed to Carthage, Mo., eight years ago, and engaged in banking. and It was supposed be was doing & profitsble business. He came here & few days ago, and at once sold the real catate be owned here at ruinous prices; drew, after banking hours, several thousand dollars from A city bank; and. Thursday night, went to Commerco Station, where he took the train for the West. Thursday, officers arrived hore from Missouri with a warrant for his arrest OD charge of embezzlement of $00,000 belonging to depositors. On searching the city he could not be found, and at his boarding-house were found his trunk and clothes. Friday it was discovered that he had left the city, as stated. The telegraph WAB used, and he was arrested at Council Bluffs, and brought back here. Yesterday a writ of habcas corpus was insued by the Circuit Court, made returnable to-day, and, in the meautime, be was released from custody in bonds of $2,600. Mr. Myers says be has not taken a dollar belonging to the creditors of his bank, but that, in the regular course of business, the bank got short, and he left on the 10th of January to ralee money from his property to help out the bank, and that his partner know where he was, and what ho was absent for. Ho took with him but $160 of his own money. He went to St. Louis; thence he went to Washington County, in this State, where he raised some funds; thence here, where he negotiated the sale of property, and secured more money. The first intimation be had of trouble at home was a telegram from his wife that his partner had closed the bank, and the creditors were seizing everything they could get hold of. lic heard Thursday evening that officers were after him, and he started home suddenly, expecting to get there Baturday night, and thus avoid an arrost. The Missouri officers tell a quite different story. -