Frankford Exchange Bank - Frankford, MO

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: October 15, 1931
Location: Frankford, Missouri (39.490, -91.320)

Metadata

Model: gpt-5-mini
Short Digest: 8addaeae

Response Measures

None

Description

Article (Vandalia Mail, 1931-10-15) reports the Frankford Exchange Bank failed to open Thursday morning after a directors' meeting and was closed to conserve the assets. There is no mention of a run, nor any later reopening or receivership in the text. I classify this as a suspension that likely led to closure; no explicit receiver assignment is reported, so closure is inferred from context and absence of reopening information.

Events (1)

1. October 15, 1931 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Directors closed the bank to conserve the assets, indicating bank-specific solvency/asset concerns rather than a depositor run or external shock.
Newspaper Excerpt: The Farmers Exchange Bank failed to open Thursday morning following a meeting of the Board of Directors Wednesday afternoon. There had been no run on the bank and the only information given was that the bank had been closed to conserve the assets.
Source: newspapers

Newspaper Articles (1)

1. October 15, 1931 The Vandalia Mail Vandalia, MO

Article from The Vandalia Mail, October 15, 1931

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Article Text

da, Illinois spent the week-end Attested by me, this 13th day of with her parents, Mr. and Mrs. October, 1931. Thos. Chinn. J. D. GREER Judge of Probate Court. Rev. T. J. Smith was a Hanni9-4t-c bal visitor Thursday. WHAT HAS HAPPENED 35 Years Ago. The total enrollment of the Vandalia schools was 315. Mr. Chas. Cover of Medford, Oklahoma were visiting here. Dr. Charles Orr of St. Louis and Miss May Caldwell of Kansas City were married. Mrs. Geo. Signor and daughter returned to their home in Shreveport, Louisiana after a visit with Mr. and Mrs. D. J. Signor. 25 Years Ago. Isaac Neal sold half interest in his grocery store to James Orr. The Vandalia foot ball season opened with a game with Laddonia. The score resulted in favor of Vandalia and was 40 to 0. W. M. Kissel of Council Bluffs, Iowa, a brother of Mrs. Henry Thole, passed away. 20 Years Ago. Jay L. Gatewood of near Mt. Carmel, died. Mrs. Lizzie J. Sparrow died at her home here. Born to Mr. and Mrs. Leland Smith of near here, a daughter. Mrs. Mark Stuart of Laddonia committeed suicide by drinking carbolic acid. 15 Years Ago. Rupert Clark Forgy, small son of Mr. and Mrs. Clark Forgy, of near this city, died. The engagement of Miss Lettie Day to Mr. Marshal Hagar was announced. W. J. Cunningham bought the A. Wilcox property at Gazette. Born to Mr. and Mrs. J. W. Green of Farber, a daughter. 10 Years Ago. Mrs. F. M. Branstetter died at her home in Mexico. Born to Mr. and Mrs. Carroll Slack, a daughter. Mr. and Mrs. J. W. Davis returned to their home in La Juanta, Colorado, after visiting Mr. and Mrs. H. R. Butts here. Mrs. Betty Hooper and daughter, Inez, of Detroit, Michigan, were visiting relatives here. 5 Years Ago. Robert Homer Martin died at his home here. Little Marjorie Eskew, five year old daughter of J. B. Eskew, passed away. Little Zella Marie Jones, seven year old daughter of Mr. and Mrs. H. D. Jones, of near here, died as a result of burns received when her dress caught fire while playing around a cook stove. Leo. Keller, four year old son of Mr. and Mrs. Wm. Keller, of near here, died. Born to Mr. and Mrs. J. E. Dodd of Siloam Springs, Arkansas, a son. Mr. and Mrs. Edward Jackson left on an extended trip through the west. Mr. and Mrs. J. J. Wanstreet and daughters of Mexico moved to this city. Mr. and Mrs. Wm. Grace and sons, Miss Beatrice DeTienne and Miss Lois Potter attended the Veiled Prophet's parade in St. Louis Tuesday evening a week Miss Frances Chinn of Dahun- FRANKFORD BANK CLOSES The Farmers Exchange Bank failed to open Thursday morning following a meeting of the Board of Directors Wednesday afternoon. There had been no run on the bank and the only information given was that the bank had been closed to conserve the assets. The Frankford Exchange Bank has a capital stock of $25,000 with a surplus fund of $10,000 and undivided profits of $8,307.77. as shown in the statement. Other liabilities were listed as follows: Total demand deposits, $68,009.82. Total time deposits, $108,062.14. Bills payable, including certificates of deposit and all obligations representing money borrowed, other than re-discounts, $5,000. Joe McCune was president and C. E. Latimer cashier of the bank and the following men were serving on the board: R. G. Haden, George B. Graves and W. S. Beavers. Mr. and Mrs. G. A. Lake, of Vandalia, are spending this week as guests in the home of the latter's brother, W. E. Graves, of the Brussells neighborhood. They were in Elsberry Wednesday greeting old friends and looking after some residence property belonging to Mrs. Lake and favored the Democrat office a call. Mr. Lake is in his ninetieth year yet is as sprightly as the average man of 75. Mr. and Mrs. J. B. Clark, of Vandalia, brought them to Lincoln county, Sunday. -Elsberry Democrat. A. C. Stotler and Rhys Williams attended a meeting of the cleaners of this district at Louisiana Wednesday evening of last week.