Bank of Liberal - Liberal, MO

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: September 1, 1927*
Location: Liberal, Missouri (37.558, -94.520)

Metadata

Model: gpt-5-mini
Short Digest: 526f75e1

Response Measures

Full suspension

Description

Article (Carthage Evening Press, 1927-09-15) reports heavy withdrawals and Sunday rumors of a run that prompted directors not to open the bank Monday; management was also struggling with bad paper. The bank 'failed recently' and cashier faced criminal charges for taking deposits before the bank failed to open. No reopening is mentioned; treat as run leading to suspension and closure/ failure.

Events (3)

1. September 1, 1927* Other

Newspaper Excerpt: Trial of C. B. Armstrong, cashier of the Bank of Liberal, which failed recently, resulted in a hung jury at Lamar Tuesday. Charges ... grew out of his acceptance of deposits on Saturday before the bank failed to open Monday.
Source: newspapers

2. September 1, 1927* Run

Cause: Rumor Or Misinformation
Cause Details: Sunday rumors spread that there would be a heavy run on Monday; bank already suffering heavy withdrawals
Measures: Management attempted to raise money to pay off bad paper; directors held an early morning meeting and decided not to open Monday
Newspaper Excerpt: the bank had been suffering from heavy with drawals and on Sunday rumors that had spread indicated that there would be a heavy run on the bank Monday
Source: newspapers

3. September 1, 1927* Suspension

Cause: Bank Specific Adverse Info
Cause Details: Management struggling to raise money to pay off 'bad paper' and heavy withdrawals; decision to close (not open Monday) followed rumors of an impending run
Newspaper Excerpt: directors at an early morning meeting, Monday decided it would be best not to open the bank for business
Source: newspapers

Newspaper Articles (1)

1. September 15, 1927 Carthage Evening Press Carthage, MO

Article from Carthage Evening Press, September 15, 1927

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Article Text

HUNG JURY IN BANKER'S CASE Cashier of Closed Liberal Institution Tried at Lamar Trial of C. B. Armstrong, cashier of the Bank of Liberal, which failed recently, resulted in a hung jury at Lamar Tuesday. The jurors stood 6 to 6 on the question of conviction and were discharged after being out two hours. Charges against Armstrong grew out of his acceptance of deposits on Saturday before the bank failed to open Monday. Armstrong and the other bank officials declared that on Saturday they had no idea that the bank would close Monday. The management had been struggling in an effort to raise money to pay off "bad paper" which the bank had. The bank had been suffering from heavy with drawals and on Sunday rumors that had spread indicated that there would be a heavy run on the bank Monday, and the directors at an early morning meeting, Monday decided it would be best not to open the bank for business.