Farmers & Traders Bank

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: January 12, 1933
Location: Iberia, Missouri (38.090, -92.293)

Metadata

Model: gpt-5-mini
Short Digest: 792cabe3

Response Measures

Full suspension, Books examined

Other: State finance commissioner placed temporary custodian and appointed liquidating commissioner; bank to be liquidated.

Description

Article (Jan 12, 1933) reports heavy withdrawals and slow collections that swamped the bank; directors called the State Finance Commissioner who authorized the cashier to close and placed the bank in charge of a state-appointed commissioner for liquidation. OCR errors corrected (names like Fern E. Willard, D. R. Harrison, R. W. Starling).

Events (4)

1. January 12, 1933 Other

Newspaper Excerpt: Atty. R W Starling of Eldon has been appointed by the State Finance Department as commissioner in charge of liquidation of the bank. and the law firm of Kay & Starling will have charge of the legal phases of the liquidation
Source: newspapers

2. January 12, 1933 Run

Cause Details: Heavy withdrawals for taxes and other reasons combined with slow collections of paper that left funds unavailable to meet a flood of checks.
Measures: Directors called the State Finance Department and cashier was authorized to close the door.
Newspaper Excerpt: Heavy withdrawals for taxes and otherwise and slow collections paper were held responsible for the board of directors calling the State department and asking instructions when it seen that funds were not available for meeting the flood of checks that had been swamping them.
Source: newspapers

3. January 12, 1933 Suspension

Cause: Government Action
Cause Details: State Finance Commissioner instructed the bank to close and placed it under temporary charge pending examination.
Newspaper Excerpt: The Farmers Traders Bank ... was instructed Thursday morning to close by State Finance Commissioner D. R. Harrison. ... Mr Harrison authorized the cashier to close the door and Fern E. was sent out to take temporary charge and make his report after an examination of the records is made.
Source: newspapers

4. * Other

Source: newspapers

Newspaper Articles (1)

1. January 12, 1933 The Miller County Autogram-Sentinel Tuscumbia, MO

Article from The Miller County Autogram-Sentinel, January 12, 1933

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Article Text

Withdrawals and Slow Collections Iberia Bank Farmers & Traders Bank. Organized in 1907. Will Be Liquidated: Fern E. Willard, State Bank Placed in Charge by Finance Commissioner D. R. Harrison When Directors Ask Instructions. The Farmers Traders Bank, the younger institution of the two Iberia was instructed Thursday morning to close by State Finance Commissioner D. R. Harrison. Heavy withdrawals for taxes and otherwise and slow collections paper were held responsible for the board of directors calling the State department and asking instructions when it seen that funds were not available for meeting the flood of checks that had been swamping them. Mr Harrison authorized the cashier to close the door and Fern E. an was sent out to take "temporary charge and make his report after an examination of the records is made Atty. R W Starling of Eldon has been appointed by the State Finance Department as commissioner in charge of liquidation of the bank. and the law firm of Kay & Starling will have charge of the legal phases of the liquidation The bank was organized in 1907 with K. Groff president as Capital stock was and surplus fund of had been created at the time of the closing. At the time of organization more than 100 citizens of Iberia and community were stockholders B. Livingston was president and Cliff Clark secretary when the bank suspended. The last financial statement, SEE NO. ON PAGE J. B Kempker of Eugene has our thanks for two subscriptions, his and one for his Ed. West Neb.