10174. Ripley County Bank (Doniphan, MO)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
November 21, 1930
Location
Doniphan, Missouri (36.621, -90.823)

Metadata

Model
gpt-5-mini
Short Digest
cf196046

Response Measures

Full suspension, Books examined

Other: Bank examiners were sent to take charge; closure appears voluntary by board to 'protect depositors'.

Description

Multiple contemporaneous newspaper dispatches (dated 1930-11-21) report the Ripley County Bank at Doniphan closed its doors after extremely heavy withdrawals; a state bank examiner was sent to take charge. The closings are reported as resulting from heavy withdrawals tied indirectly to failures of other banks (Quincy, IL), and no reopening is mentioned; a receiver/examiner was assigned, so I classify this as a run that led to suspension and permanent closure.

Events (3)
1. November 21, 1930 Run
Cause
Local Banks
Cause Details
Heavy withdrawals triggered by loss of confidence after failures of other banks (notably two large Quincy, Ill., banks) and general regional contagion
Measures
No specific remedial measures described beyond closing doors to protect depositors
Newspaper Excerpt
the Ripley County Bank of Doniphan notified the finance department today had closed its doors because of heavy withdrawals of deposits
Source
newspapers
2. November 21, 1930 Suspension
Cause
Local Banks
Cause Details
Bank closed by its board because of extremely heavy withdrawals tied to regional bank failures and loss of depositor confidence; state bank examiner sent to take charge (receiver/examiner involvement).
Newspaper Excerpt
The Ripley County Bank of Doniphan notified the finance department today it had closed its doors to protect depositors after extremely heavy withdrawals. Bank examiner M. Duncan was sent to Doniphan to take charge of affairs of the bank.
Source
newspapers
3. * Other
Newspaper Excerpt
Bank had resources of $334,571. C. A. Proctor was president of the bank. Ripley county bank had $286,932 loans, $25,000 capital stock, $6,000 surplus, $253,224 deposits and $45,000 bills payable. M. Duncan, state bank examiner, has been directed to charge the bank.
Source
newspapers

Newspaper Articles (6)
1. November 21, 1930 The Boonville Daily News Boonville, MO
Article from The Boonville Daily News, November 21, 1930

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Article Text

IN WEEK Two More Missouri Institutions Fail To Open This Morning. DEPOSITS WITHDRAWN Heavy Runs Are Blamed By Directors Of Defunct Institutions. Jefferson City, Nov. 21, (UP.) The closing of state banks Missouri today brought the total of failures for the week to nine. according to French, state finance commissioner. The Ripley County Bank of Doniphan notified the finance department today had closed its doors because of heavy withdrawals of deposits The bank had resources $253,224. Bank examiner M. Duncan was sent Doniphan to charge of affairs of the bank. The bank of Edina in Knox Counalso closed its doors today. The failure of two large Quincy, III., banks last week held indirectfor the The bank had loans of of capital stock $20,000, surplus of and deposits of $312,900. Leo Berberet Bank Ouiles was sent to take charge. Six Illinois Banks Close Ind., Nov. 21, Six southern Illinois banks were closed today by voluntary action of the state banking Officials of the said the closings sulted from bank conditions in Louisville, Ky.

2. November 21, 1930 Cumberland Evening Times Cumberland, MD
Article from Cumberland Evening Times, November 21, 1930

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Article Text

ENTRIES FIRST $1300, three from Page selected from much number projects legislative appropriation provide funds half the the road be asked, Mr. Bruce and the widening the boulevard which he said was Dark Ray source great particularly during the summer Roads Important Arteries 113, roads this state are much arteries commerce railroads steamship lines,' SECOND The Bruce said, "and if this state does not keep step with the increase traffic, the commerce will Portcodine Henry Halcyon legislative appropriations (Continued from page shying away yesterday. Board Told Amounts Allotted The selling which appeared in the in excellent Its Have Been Expended hour the previous session the tea company noti- In Relief Work. carried over into today's early store trading, causing further recession day the Bank had point two, but was soon com- Harold W. Smith and Thomas office was said pleted, and the advance Finan, Cumbermake an state- Trading shares appeared ment. vanced more readily than they before the Kentucky banks to close, and numerous this of financial gains the closing Monday from the for the National Bank Most the its relief work over the appeared tinuing was to by be and strength of the Bank, of the suggested The Commissioners held the matpool activity. advisement. On petition of General The in its They cited that two of its agenappoint- review the Army and for the Louisville Trust Compa- pointed the firmer in clated Charities had already with the National copper, rubber the originally Bank of Kentucky, which is In and lotted forms of that few the The center banking activity materials can long bought than the costs instances Statistics for building were ordinarily would helped today and shift perfavorable. sonnel to handle the County Home funds, Continued improvement in the especially dependent children long depositors. Meanwheat market was bullish influ- women. while other banks said aged ence, and led to fresh hopes that Demands Exhaust Fund that while than the decline in They that the Welfare at of them, they last checked. drawn $1500 were to Call money renewed per savings from years, Kentucky Banks Closed Two Missouri Closed Jefferson City, Mo., Nov. The Ripley County Bank at Doniphan with resources and the Bank Edina in Knox counwith resources closed today their boards of department Heavy given as the reasons for the Surety Loss Small New York, John, president Surety Company, said today that after carefully their pository bonds on the pended banks Kentucky, InIllinois Missouri, losses thereunder would exceed total of

3. November 21, 1930 Imperial Valley Press El Centro, CA
Article from Imperial Valley Press, November 21, 1930

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Article Text

ADDITIONAL BANKS REPORT FAILURES INDIANAPOLIS. Ind. Nov. 21. (U.P.)-Six southern Indiana banks were closed today by voluntary action of their directors, the state banking department announced. Officials of the department said the closings resulted from disturbed banking conditions in Louisville, Ky. PARIS. Tenn. Nov. 21. (U.P.)The First State Bank and Trust Co., of Paris, with total resources of $1,000,000 failed to open today. following steady withdrawals of deposits during the last two weeks. JEFFERSON CITY, Mo., Nov. 21. (U.P)-The closing of two state banks in Missouri today brought the total of failures for the week to nine, according to C. E. French. state finance commissioner. The Ripley County Bank of Dociphan. Mo., notified the finance department today it had closed its doors to protect depositors after extremely heavy withdrawals. The banks had resources of $334,571. C. A. Proctor was president of the bank. The Bank of Edina, in Knox county. also closed its doors today. The failure of two large Quincy, 111., banks last week were indirectly responsible for the closing. The bank had loans of $228,770. resources of $364,179.

4. November 21, 1930 The Sedalia Democrat Sedalia, MO
Article from The Sedalia Democrat, November 21, 1930

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Article Text

GOUPLE OF BANKS MISSOURI CLOSE Press. CITY, Mo., Nov. 21. Ripley County Bank at Doniwith $334,571 resources and Bank of Edina at Edina, in Knox county with $364,175 sources closed today by their boards of directors, the state finance department was notified. Ripley county bank had $286,932 loans, $25,000 capital stock, $6,000 surplus, $253,224 posits and $45,000 bills payable. Proctor president and Ponder, cashier. Heavy withdrawwere given as the reason for closing. M. Duncan, state bank examiner, has been directed charge the Bank of Edina had $312.291 loans, $10,000 bills payable, $20,000 capital stock and $20,000 surplus. Leo Berberet vice president and Linville cashier. Gayles, state bank examiner will take charge for the department. No reason for the closing was given. The Ripley county bank had $25,127 in public funds, none of which state deposits, however, and the Edina Bank showed $2,881 of public funds. the finance department it said the Edina probably due to the situation in Quincy, III.

5. November 21, 1930 Waukegan News-Sun Waukegan, IL
Article from Waukegan News-Sun, November 21, 1930

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Article Text

MORE BANKS CLOSED TODAY Withdrawals On Strength Of Unfounded Rumors Many Closing Orders. drawals, caused in some by unfounded rumors, forced the closing 12 banks in six southern and middle western states today. The total number banks which closed within the last five days was brought 110 result finanin Indiana, Kansas, North Carolina, Missouri, Kentucky and Tennessee. Twenty closings OCyesterday. Dependence larger institutions which failed Little Rock, Ark. Nashville, attributed the cause difficulties for majority the The situation Louisville, Ky. caused four banks southern Indiana close today. False rumors that two Albany, Ind., banks checks, which originated in their refusal to cash vouchers on Louisville caused both suspend yesterday The banks that closed day Crawford County State bank English: State bank; Jackson Township bank Corydon. Junction, and Old Capitol bank and trust company of Corydon. The National bank Asheville, the Citizens bank of Bryson City and the Bank Hazel suspended North today, raising to the total the state all was bereal Failure of Quincy, III., institutions last blamed for eight other closing, was sponsible for Ripley County bank Doniphan, Mo., and the Bank of Edina, Mo., In Kentucky, where eight Louisville others in the are protecting their the Bank Crestwood failed open today. Nine loan tions taken law permitting them require 30 advance notice for withdrawals. The First State Bank and True: company Paris, Tenn., failed open today. The institution, has total resources of $1,000,000. had weathered steady withdrawals over period two weeks previously. (Kans.) bank took similar turned its state department for The bank had The American Exchange Trust company Little suspension precipitated the closing 34 Arkansas banks affiliated with reached stage in its today which indicated it would be reopened new national bank was formed Merchants suspended Monday with deposits of $725,000. FOREIGN EXCHANGES NEW YORK, Nov. eign irregular. DemandBritain France Belgium Germany Holland Norway Sweden 26.8214: Denmark Switzerland Spain 11.24; Greece Austria Tokyo 100.14 Great Britain dollars, other in cents. MERCANTILE EXCHANGE CHICAGO, prices on the Chicago Mercantile exchange: Eggs November refrigerator standard December refrigerator standard Butter: November storage stand29, December storage standard January storage standard CHICAGO CLEARING HOUSE CHICAGO, Nov. (INS) Clearing today: Clearings Balances $5,800,000. NAME MEANT NOTHING SEATTLE name?" asked one policeman other when Frank Hubby, 25, booked charge and of nis family.

6. November 21, 1930 Bartlesville Examiner-Enterprise Bartlesville, OK
Article from Bartlesville Examiner-Enterprise, November 21, 1930

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NINE NORTH CAROLINA BANKS CLOSED TO DATE The American National at Asheville ville, With Deposits of $2,000,000 Failed to Open This Morning (By the Associated Press) ASHEVILLE, N. C., Nov. 21-The American National bank here failed to open this morning. bringing the total number of banks to close in western North Carolina in two days to nine. The bank had deposits of $2,000,000. Failure of the Central Bank and Trust company of Asheville, fourth largest bank in North Carolina, yesterday, precipitated one financial crisis in this section. More than $4 in city funds and $3,100,000 in county funds was tied up in the closing of the Central company. but officials announced the greater part of the money was covered by collateral. Mayor Gallatin Roberts said arrangements had been made to meet all public payrolls. Teachers in the various schools have voted unanimously to contin whether salaries are paid or not, pending the clearing up of the present difficulties. Total deposits tied up exceed $24,000,000 Two Missouri Banks Closed. (Ry the Associated Press) JEFFERSON CITY, Mo., Nov. 21. The Ripley County Bank and Doniphan with $334,571 resources and the Bank of Edina at Edina in Knox county with $364,175 resources were closed today. Fourteen Kentucky Banks Fail Associated Press) LOUISVILLE. Ky., Nov. 21-The number of banks in Kentucky that have suspended operations during the week was brought to fourteen today with the announcement that recorded. Telephone and telegraph lines were down by the hundreds Trans between Pierre and Huron were despatched last night by short wave retion munication in Leu of regular telegraph faHindreds of automobiles were reported stalled in drifts on highSigney apparently suite more than any other point in western Mebraska. The snow was reported to have drifted as high as the of houses. the Crestwood bank, a small institution in suburb of Louisville would not open this morning. W. A. Dicken, deputy state banking commissioner, said today he believed all Louisville banks not affiliated with the National Bank of Kentucky, first to close, were solvent. Following the closing yesterday of two banks at New Albany, Ind., across the Ohio river from Louisville, other members of the New tion met and pledged aid to each Albany Clearing House associaother should runs develop. A Kansas Bank Fails, (By the Associated Press) TOPEKA. Kan., Nov. 21.-The state bank department was noti fied of the closing of the Cleburne state bank. Cleburne. Negro Bank Fails. NASH Tenn. Nov. The People's Bank and Trust company, operated by negroes, failed to open today.