10273. Peoples Bank (Jerico Springs, MO)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
March 1, 1929*
Location
Jerico Springs, Missouri (37.622, -94.009)

Metadata

Model
gpt-5-mini
Short Digest
bacd2558

Response Measures

Full suspension, Books examined

Other: Closed by directors and/or ordered closed by State Finance Commissioner; examiner placed in charge.

Description

Articles report a multi-day run which prompted directors/state finance commissioner to close the People's Bank of Jerico Springs and place an examiner in charge. Closure dated March 16, 1929. The reports call it a bank failure; receiver not explicitly named but an examiner was assigned. Cause of run not specified in the articles.

Events (2)
1. March 1, 1929* Run
Cause Details
Several days of heavy withdrawals/run in progress; no specific trigger (rumor or bank-specific reason) given in articles.
Measures
Bank was closed by directors; State Finance Commissioner sent an examiner to take charge.
Newspaper Excerpt
it is said that a run on the bank had been in progress for several days.
Source
newspapers
2. March 16, 1929 Suspension
Cause
Government Action
Cause Details
Closed by order of directors and State Finance Commissioner; examiner placed in charge following the run.
Newspaper Excerpt
The People's Bank of Jerico Springs ... was closed by the directors today ... The State Finance Commissioner sent Examiner D. B. Reist to take charge.
Source
newspapers

Newspaper Articles (3)
1. March 18, 1929 Butler Daily Democrat Butler, MO
Article from Butler Daily Democrat, March 18, 1929

Click image to open full size in new tab

Article Text

Run Closes Jerico Springs Bank Jefferson City, Mo., March 16.The People's Bank of Jerico Springs, Cedar County, was closed by the directors today because of a run that had been in progress several days. The State Finance Commissioner sent Examiner D. B. Reist to take charge. The president of the bank is W. T. Long and the cashier is E. F. Peer. This is the sixth bank failure of the year. Like all of the others, it is a comparatively small institution.

2. March 21, 1929 Cedar County Republican and Stockton Journal Stockton, MO
Article from Cedar County Republican and Stockton Journal, March 21, 1929

Click image to open full size in new tab

Article Text

JERICO SPRINGS BANK CLOSED The People's Bank of Jerico Springs was closed by an order from the State Finance Commissioner last Saturday. A bank examiner ig in charge. It is said that a run on the bank had been in progress for several days. W. T. Long is president of the bank and E. F. Peer is cashier. The last statement issued on November 15, 1928 showed the following: Loans, $64.700; real estate owned. $10,000; stocks owned, $11,600; cash on hands and due from other banks, $6.500; bills payable, $15.000; capital, $20,000: surplus, $4,000; total redeposits, sources, $93,438.28.

3. March 21, 1929 Bates County Democrat Butler, MO
Article from Bates County Democrat, March 21, 1929

Click image to open full size in new tab

Article Text

Run Closes Jerico Springs Bank Jefferson City, Mo., March 16.The People's Bank of Jerico Springs, Cedar County, was closed by the directors today because of a run that had been in progress several days.