Jackson Bank - Clearmont, MO

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: April 29, 1930
Location: Clearmont, Missouri (40.510, -95.032)

Metadata

Model: gpt-5-mini
Short Digest: e8a1872b

Response Measures

Full suspension, Books examined

Other: State finance department requested to take charge (examination/receivership). The run was attributed to rumors and local unsettled farm conditions per article.

Description

Article (Joplin Globe 1930-04-29) reports a run on Jackson Bank at Clearmont that forced the bank to close and the State Finance Department was asked to take charge. Causes cited include rumors and poor farm conditions; no reopening is mentioned and a receiver/State action is implied, so classified as run -> suspension -> closure.

Events (3)

1. April 29, 1930 Receivership

Newspaper Excerpt: The state finance department been requested take charge of the
Source: newspapers

2. April 29, 1930 Run

Cause: Rumor Or Misinformation
Cause Details: Withdrawals driven by rumors and back fence talk combined with loss of confidence from floods and unsettled farm conditions.
Newspaper Excerpt: He asserted Bros., rumors and back fence talk ... the company recently had started slow run the bank
Source: newspapers

3. April 29, 1930 Suspension

Cause: Government Action
Cause Details: Bank was closed following the run and the State Finance Department was requested to take charge (state intervention/receivership implied).
Newspaper Excerpt: He said closing of the bank forced of confidence ... The state finance department been requested take charge of the
Source: newspapers

Newspaper Articles (1)

1. April 29, 1930 Joplin Globe Joplin, MO

Article from Joplin Globe, April 29, 1930

Click image to open full size in new tab

Article Text

RUN CAUSES BANK AT CLEARMONT TO Joseph, Mo., April Jackson bank Clearmont, capital stock letter today order of the board of directors. The bank years old and the week was only one Clearmont, Billingsley was president. Billingsley said closing of the bank forced of confi- States dence, floods and general unsettled farm conditions. He asserted Bros., rumors" and "back fence talk" company recently had started slow run the bank making its $2,000,000, necessary pension business. the bank had $65,000 deposits, and loans estimated approximately $70,000. The state finance department been requested take charge of the