10216. Bank of Gerald (Gerald, MO)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
January 7, 1932
Location
Gerald, Missouri (38.400, -91.331)

Metadata

Model
gpt-5-mini
Short Digest
2e981241

Response Measures

Full suspension, Books examined

Other: Bank closed by board and placed in charge of State Finance Department (state examiners/receivers).

Description

Newspaper reports (Jan 1932) state the Bank of Gerald failed to open for business January 7 and that heavy withdrawal of funds is given as the reason for the closing. Affairs placed in charge of the State Finance Department, indicating a closure and state takeover. No evidence in the provided articles of reopening later in 1932.

Events (3)

1. January 7, 1932 Run
Cause Details
Heavy withdrawals by depositors (newspaper attributes closing to 'heavy withdrawal of funds').
Newspaper Excerpt
The Bank of Gerald, Mo., by order of its board of directors, failed to open for business January 7, and the affairs of the bank are in charge of the State Finance Department. Heavy withdrawal of funds is given as the reason for the closing of the bank.
Source
newspapers
2. January 7, 1932 Suspension
Cause
Government Action
Cause Details
Board ordered the bank not to open; affairs placed under State Finance Department control (state takeover/administration).
Newspaper Excerpt
The Bank of Gerald, Mo., by order of its board of directors, failed to open for business January 7, and the affairs of the bank are in charge of the State Finance Department.
Source
newspapers
3. December 30, 1932 Other
Newspaper Excerpt
Jan. Bank of Gerald closed by its board (year summary).
Source
newspapers

Newspaper Articles (2)

Article from The Advertiser-Courier, January 15, 1932

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Article Text

STATE AND NATION NEWS Former State Senator Francis M. Wilson formally announced at his home, at Platte City, his candidacy for the Democratic nomination for Governor. Wilson was the Democratic nominee for Governor in 1928 and received an aggregate of 721,783 votes, which exceeded the number of votes cast for other Democratic candidates by from 5,461 to 23,488. He was defeated by Gov. Caulfield by 52,450, while pluralities against other Democratic candidates ranged from about 75,000 to 96,895. The Board of Public Service of St. Louis is receiving bids for the erection of the proposed $150,000 terminal building to be constructed at Lambert-St. Louis Municipal Air. port. The Bank of Gerald, Mo., by order of its board of directors, failed to open for business January 7, and the affairs of the bank are in charge of the State Finance Department Heavy withdrawal of funds is given as the reason for the closing of the bank. This bank WITH organized about the year 1904 and its last statement as of December 31 and published in the Gerald Journal shows the following: Capital stock $40,000; surplus $20,000; undivided profits $2,individual deposits subject to check $50,186; time deposits $461,450; bills payable $15,000. The final distribution of funds of the defunct Bank of Mineola, Mo., was ordered. The depositors realized 83 and per cent of their holdings in the bank. Hack Wilson has returned unsigned a year contract offered him by the St. Louis Cardinals, stipulating salary of $7,500 and "substantial sum" in addition if he has good season, Branch Rickey, vicepresident of the National League champions said Friday. Wilson, obtained by the Cards on trade which sent Burleigh Grimes to the Chicago Cubs in exchange, received $33,000 from the Cubs last year, but was the batting failure of the season. In 1930 he WAS the leading major league home run hitter. The Bank of Summerfield in Osage County was turned over to the State Finance Commission Tuesday of this week. Springfield's outstanding industry was hard hit Wednesday. Because of the May weather being experienced throughout the Ozarks, egg production has increased to such an extent that eggs dropped to 10 cents dozen. Thousands of cases are being received daily by brokerage houses. This city holds the distinetion of leading the nation as concentration point for eggs and poultry. Richard R. Nacy, Circuit Clerk of Cole County, announced he would again seek the Democratic nomination for State Treasurer in the Aug. primary. Nacy has been Circuit Clerk the past nine years and was the Democratic nominee for State Treasurer in 1928. His home is Jefferson City, Gangdom was 'bluffed" into returning $575,000 of the $2,500,000 of bonds stolen in the holdup of the Lincoln National Bank in Lincoin, Nebr., September 17, 1930. Fear of Nebraska farmer jury was disclosed as the factor which led to a 'shakedown' of the asserted master minds of huge crime syndicate and recovery of the stolen securities. The instrument of the investigators of the robbery in 'running their bluff' to obtain return of the stolen bonds was Gus Winkler, the admitted lieutenant of Al Capone. Winkler, it has been revealed, 'disgorged' when threatened with trial on robbery charges before 'hick jury' far from his native Chicago haunts. Fifty red cedars have been planted the University of Missouri camcommemorating the George Washington bicentennial. Twenty-five placed on the east campus and north of Jay H. Neff Hall, of journalism building, on the campus. Special tree planting ceremonies will be held February 22, Washington's birthday. J. F. Glover, 84-year-old farmer lives twenty-four miles north of Moberly, Mo., probably owes his improved condition to an airplane. it was learned that Glover ill and needed certain kind medicine, two aviatora whose


Article from Franklin County Tribune, December 30, 1932

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Article Text

THE Items of Interest from First Page of Tribune for Past Six Months. The year 1932 will long be remembered. During this year just closed the depression, hoped. reached worst stage. This year probably the largest political versal on record the United Franklin County electing the tire Democratic ticket The news recorded in The Tribune: Jan. 1-Charles Bagby of Owensdied in his 57th Union's Bridge clubs had joint party at the Hitching Post Jan. Minor Moore and Nick Cardwell got wild turkey each hunt around Blom sold his interest in the Store Leo Aholt Missouri School Journal. state wide school publication gives Chas. for years head Union feature basketball team third game of the season from St. Clair. 14-13. Jan. Bank of Gerald closed by its board and Mrs. Dan Michel celebrated their silver wedding anniversary Jan. John McHenry died the of Union Town Mutual Insurance Company held its annual election of officers and directJan. Busch Aug. Baur and Owen appeared before the Public Service Commission regarding Union's telephone service and hundred and eight people in Union get treatment the free Eye Clinic conducted by the Trachoma Union Cleaners and Tailors sold out the Kleen Cleaners Jan. Association made an appeal for shoes and poor school children. Benefit Card party of the Hitching Post netfor the Milk Fund. The Farmers and Merchants Bank of cific closed White Rose Cafe opened Saturday. Jan. Maune was the first Republican announce the office Hambro Factory was Feb. Cunio in pinochle game perfect hand of spades. -Richard Russell. formerly of Union, died Louis hospital. Feb. Jos. Mintrup died after short illness. Feb. Smith of Robertsville passed illness his 89th Hambro Factory busy Koester. Shell operator. slugged and robbed by four Tucker Hill Auto and Transfer Company opened store Feb died after illness of weeks. Geo. H. Vossbrink died in her year. March Tribune begins its 67th of Union High School girls won the county basketball March Belew. highly spected citizen Hope, died his was appealing for shoes and clothing for titute March county collector's port showed collected taxes the past year. March The Scotia Telephone Company started laying the cable for Union's new and improved telephone system. March McHugh of Pacific died suddenly while customer Republicans and Democrats held big meetings for the purpose selecting delegates the county conventions. March Hambro Factory working full blast there distinct shortage rooming and ing facilities Union Kramolowsky died after weeks. April number of deaths Nicholson, superintendant the Hambro Factory. Mrs. Zehrt. Mrs. Breckenridge, Mrs. Meyer Mrs. Della Mrs. Allen, Rev. Frederick Baur. April County mised completion Highway Supreme Court decides Congressmust be elected large. April Bicknell appointed superintendent Hambro Union teachers take cent cut. April barn Jos. Bolte Union struck by lightning and burned the ground. April 22nd annual field and track meet Franklin County schools hed in Union. The Sullivan boys and Union girls firsts. May county court lowered the 1933 payments by creasing tax May M. had large county meeting here. large class May Glennon of Louis confirmed large class Immaculate Conception district mail meeting City May graduated from the Union Franklin County Court charities. June observed Memorial Day usual. Wm. Findley of delivered the address. June record number of county candidates, race for Republican for sheriff; seven in