Commercial Bank - Fulton, MO

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: May 18, 1903
Location: Fulton, Missouri (38.847, -91.948)

Metadata

Model: gpt-5-mini
Short Digest: 833b2c24

Response Measures

None

Description

The article reports the Commercial Bank of Fulton was defunct, a receiver (W. E. Jamison) paid the final dividend May 18, 1903, and an employee (Adams) absconded with about $12,000. No run is described; failure followed embezzlement and the bank was closed and handled by a receiver.

Events (3)

1. May 18, 1903 Other

Newspaper Excerpt: paid the last dividend to the depositors of the above bank to-day, of 12.1 per cent, 75 per cent having already been paid.
Source: newspapers

2. May 18, 1903 Receivership

Newspaper Excerpt: FULTON, Mo., May 18.-W. E. Jamison, receiver of the defunct Commercial bank of this city, paid the last dividend to the depositors of the above bank to-day, of 12.1 per cent, 75 per cent having already been paid. This winds up the affairs of the bank, and Receiver Jamison will be discharged in a short time.
Source: newspapers

3. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank closed following embezzlement/defalcation by Adams who absconded with about $12,000.
Newspaper Excerpt: At the time the bank was closed the bank's liabilities were, including $20,000 capital stock, about $60,000.
Source: newspapers

Newspaper Articles (1)

1. May 21, 1903 Mexico Weekly Ledger Mexico, MO

Article from Mexico Weekly Ledger, May 21, 1903

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Article Text

Fulton Bank Report. FULTON, Mo., May 18.-W. E. Jamison, receiver of the defunct Commercial bank of this city, paid the last dividend to the depositorsof the above bank to-day, of 12.1 per cent, 75 per cent having already been paid. This winds up the affairs of the bank, and Receiver Jamison will be discharged in a short time. At the time the bank was closed the bank's liabilities were, including $20,000 capital stock, about $60,000. The stockholders who subscribed $20,000 will lose all and the depositors will lose 12.9 per cent of their deposits. Adams, who absconded with the available funds of the bank, has never been heard from. His defalcation was something near $12,000.