10433. State Exchange Bank (Macon, MO)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
December 1, 1929*
Location
Macon, Missouri (39.742, -92.473)

Metadata

Model
gpt-5-mini
Short Digest
f68fbbf6

Response Measures

Capital injected, Full suspension

Other: Bank was absorbed/purchased by newly chartered First Bank and Trust Company of Macon; original bank ceased operations.

Description

Multiple contemporaneous newspaper accounts (Dec 9, 1929) report a 10-day run on the State Exchange Bank of Macon followed by organization/opening of the First Bank & Trust Company of Macon to absorb and purchase the assets. The articles do not describe a temporary suspension explicitly but describe an absorption/takeover and opening of a new institution the same day, indicating the old bank ceased independent operation (closure/absorption). The immediate cause of the run is not specified in the articles, so cause is coded as 'other'.

Events (3)

1. December 1, 1929* Run
Cause Details
Articles state there was a 10-day run but do not specify a triggering rumor, correspondent failure, or bank-specific scandal.
Newspaper Excerpt
The formation of the new institution followed a 10 day run on the other bank, it was said.
Source
newspapers
2. December 9, 1929 Other
Newspaper Excerpt
The new bank opened with paid up capital of $100,000, and a surplus of $10,000. The absorption is the fifty-eighth of the year in Missouri.
Source
newspapers
3. December 9, 1929 Suspension
Cause Details
A 10-day run precipitated the organization of a new bank which absorbed and purchased the State Exchange Bank's assets; the old bank ceased independent operation and was absorbed.
Newspaper Excerpt
The organization of the First Bank and Trust Company of Macon to absorb and purchase the assets of the State Exchange Bank of Macon was announced here today by Cantley, state finance commissioner. The new bank opened for business Macon today.
Source
newspapers

Newspaper Articles (6)

Article from The Chillicothe Constitution-Tribune, December 9, 1929

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Article Text

ORGANIZE NEW BANK Exchange Bank of Macon sorbed Today JEFFERSON CITY, MO., Dec. organization of the First Bank and Trust Company of Macon absorb and purchase the assets of the State Exchange Bank of Macon announced here today by Cantley, state finance commissioner. The new bank opened for business Macon today, Cantley said. The formation of the new institution followed a 10 day run on the other bank, it was said.


Article from Kirksville Daily Express and Kirksville Daily News, December 9, 1929

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Article Text

Change Follows Maffry Not New Bank Mo., Dec. nouncement made this morning of the purchase the assets of the State Exchange Bank of Macon Theodore Gary and associates of city. Huges, former state of finance, the president the new institution which. been chartered First Bank Trust Company of Macon. Jefferson City, Mo., Dec. (UP) organization of the First Bank Trust Company of Macon absorb and purchase the assets the State Exchange Bank of Macon, announced here today Cantley. state finance commissioner. The new bank opened for business Macon today, Cantley said. The formation of the new institution followed 10-day run on the bank. said. The directors the new institution Hughes, of Kansas City, former state bank commissionArthur Krueger, Charles Pay Charles Sears, John Shea, cashier of the bank. Albert SkinLauck, all of Macon. Chris Maffry. president of the State Exchange Bank, not connectwith the new bank, Cantley said. The State Exchange Bank the of the Finance Departhad loans and discounts mounting to bonds, cash due from other banks, deposits, resources of the largest banks the north central section of the new bank opened with paid capital of and surplus $10,000. The absorption the of the year Missouri.


Article from The Springfield Press, December 9, 1929

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Article Text

NEW BANK TO ABSORB OLD FORMED AT MACON JEFFERSON CITY, Dec. ganization of the First Bank and Trust company of Macon to absorb and purchase the assets of the State Exchange bank of Macon was announced here Monday by Cantley, state finance The new bank opened for business Macon, Monday, Cantley said. The formation of the new institution followed 10-day run on the other bank, said.


Article from Columbia Missourian, December 9, 1929

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Article Text

NEW BANK OPENED AT MACON TODAY Formed to Absorb Assets of Another Institution There JEFFERSON CITY, Dec 9 (U.P.). The organization of the First Bank Each Style and Trust Company of Macon to absorb and purchase the assets of the State Exchange Bank of Macon was inaComplete announced here today by S. L. Cantley. state finance commissioner. The new bank opened for business Range of Sizes today. Cantley said. Formation of the new institution followed a tenday run on the other bank, it was said. Practical You are missing opportunities If Want Ad.


Article from The Milan Standard, December 12, 1929

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Article Text

NEW TRUST COMPANY MACON ABSORBS EXCHANGE Change Follows Ten-Day Run; Maffry Not In New Bank. Macon, Mo., Dec. 9.-Announcement was made this morning of the purchase of the assets of the State Exchange Bank of Macon by Theodore Gary associates of this city. Huges, former state commissioner of finance, is the president of the new institution which has been chartered as the First Bank and Trust Company of Macon. Jefferson City, Mo., Dec. 9.-The organization of the First Bank and Trust Company of Macon to absorb and purchase the assets of the State Exchange Bank of Macon, was announced here today by S. L. Cantley, state finance commissioner. The new bank opened for business in Macon today, Cantley said. The formation of the new institution followed a 10-day run on the other it was said. The directors of the new institution are: J. G. Hughes, of Kansas City, former bank commissioner; Arthur L. Krueger, Charles Payson, Charles Sears, John G. Shea. cashier of the old bank. Albert Skinner and R. E Lauck. all of Macon. Chris R. Maffry. president of the State Exchange Bank. is not connected with the new bank, Cantley said. The State Exchange Bank at the last bank call of the Finance Department had loans and discounts amounting to $917,000; bonds. $394,000; cash due from other banks, $187,000; deposits, $1,225,000; total resources of 546,000. It was one of the largest banks in the north central section of the state. The new bank opened with paid up capital of $100,000, and a surplus of The absorption is the fifty-eighth of the year in Missouri.


Article from The Kirksville Graphic, December 13, 1929

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Article Text

THE WEEKLY GRAPHIC Missouri Friday, Dec. 13, 1929 We guarantee our work. Try us. Cook & Gardner. Jewelers. Audrey H. Person, of Brashear and Miss Gladys Mearl Coulson, of Sabbath Home neighborhood, were united in marriage in Kirksville Saturday afternoon, the Rev. J. W. Anderson of 415 South High street officiating. These fine young people have a host of friends who extend and best wishes. The annual election of officers of the I. O. O. F. Lodge was held Friday night. O. F. Burris was chosen noble grand, Willard Amon, V. G.; G, W. Imbler, F. S.; Grove Swigert, treasurer; S. T. Willey, Rec.-Sec.; Dr. R. C. Allen; trustee. There was a good attendance and after the election an oy ster supper was served. Girls triumphed over boys by winning both the Grand Reserve Championships, and taktng blue ribbons in two of the three classes in the Sixth Annual Baby Beef Show and Sale conducted by the Producers Live Stock Commission Association at the National Stock Yards, Nov. 14 and 15. Twentyseven counties in Missouri and Illinois were represented by three hundred and eighteen boys and girls belonging to 4-H Clubs and Vocational classes competing in the largest show yet held by the producers. Mrs. Alice Buhl, a former resident of Hurdland, died of pneumonia at her home in Pomona, Calif., Saturday, December 7, aged 78 years. The body will be brought to Hurdland for burial and will arrive Sunday afternoon. Funeral services will be held at the Methodist church in HurdMrs. Buhl was the wife of W. H. Buhl who died May 13, 1925. She was the mother of eight children, three of whom are dead. Surviving are: Charles H. and Albert Buhl, Hurdland; Miss Emma Buhl, Pomona; L. C. Buhl, Long Beach, Calif.; Mrs. Blanche Pickett, Brawley, Calif. There are 10 grandchildrenandtwo children. Mrs. Anne E. Funk, of Kansas City, Kans., is a sister and Jake Funk of Hurdland is a half brother. The organization of the First Bank & Trust Company of Macon to absorb and purchase the assets of the State Exchange Bank at Macon was announced at Jefferson City Monday by S. L. Cantley, state finance commissioner. The new bank opened for business in Macon Monday. The formation of the new institution followed a 10-day run on the other bank. The directors of the new institution are: J. G. Hughes, of Kansas City, former state bank commissioner; Arthur L. Krueger, Charles Payson, Charles Sears, John G. Shea, cashier of the old bank. Albert Skinner and R. E. Lauck, all of Macon. The State Exchange Bank at the last bank call of the Finance Department had loans and discounts amounting to $917,000; bonds, $394,000; cash due from other banks, $187.000; deposits, $1,225,000; total resources of $1,546,000. It was one of the largest banks in the north central section of the state. The new bank opened with a paid up capital of $100,000, and a surplus of $10,000. The absorption is the fifty-eighth of the year in Missouri. Considerable pain is being suffered by Mrs. Eliza Farmer, county superintendent of schools, and her companions, Mrs. Ida Willard and daughter, Miss Gertrude Willard, who were severely injured in an automobileaceident Greenough Tuesday. but they were reported to be resting more comfortably at the Thornton Hospital. Mrs. Farmer, who sustained a fractured knee, a dislocated hip, a deep eut in the knee joint and severe lacerations about the face, head and legs, is perhaps in the most serious condition. Miss Gertrude also is in considerable pain from fractured nose and jaws. She also suffered severe cuts about the face and legs and had several teeth knocked out. Mrs. Willard is reported considerably better. She has a wrenehed knee and injuries about the chest and numerous cuts and bruises. The three women were bound for the Sunset schoolhouse to spend the aftermoon when in some manner their car struck a stump at the side of the road. The car did not turn ovMissouli, Montana Paper. Editors Note-Mrs. Willard is the mother and Miss Gertrude is a sister of Dr. Asa Willard, all well known in Kirksville where they lived for many years. Another sister of Dr. Asa, Miss Mamie, has been a teacher in the public schools of Missouli for 28 years. W. A. Howland. experienced piano tuner and player expert. Mr. and Mrs. Ralph Eggert motored to Sedslia Sunday and spent the day with Rev. and Mrs. R. A. Waggoner. The Novinger city council has appointed Attys. M. D. Campbell and Alex Nimo tax attorneys for Novinger. The Smoke Shop has been closed and the stock disposed of. Le Roy Brightwell from LaBell was the last owner. Born to Mr. and Mrs. Carl Teeter, of 409 South Baltimore street, Sunday night, a daughter, weight 8 pounds. Mrs. Ola B. Williamson, of 616 East MePherson street, left Monday for Columbia to be with her s.ster, Mrs. Wiil S. Bricker, who has been seriously ill. Mrs. Helen Lohr, of the Helena Beauty Shop, left Saturday night for Clinton Ia., where she was called by the serious illness of her sister, Mrs. W. E. Brown, of Wyaconda, Mrs. A. H. Rowe, of Youngstown, and Mrs. Elmer Sears, of Elmer, underwent operations Friday morning at the Grim-Smith Hospital. James F. Conner has filed suit in circuit court against the Wabash Railway Company, E. Shisler and F. R. Ellenbaum for $60,000 damages. The suit is the result ef alleged injuries sustained by Mr. Conner while he was accompanying a shipment of hogs to St. Louis in February 1928. The petition states that while he was riding in the caboose near Rennick the train was handled such a manner that plaintiff W a S thrown about the caboose and injured. George W. Gilliland died Sundav night at the home of his son, H. J. Gilliland, at 1308 South Osteopathy avenue, aged 82 years. Death was the result of complications following an attack of the flu. Mr. Gilliland was born in Kentucky in 1847 and came to Missouri at the age of 18 years. He had spent the greater part of his life in Macon and Adair counties, living the past eleven and a half years with his son here. He is survived by six children. namely: C. C. Gilland and G. H. Gilliland, of LaPlata; Willie, in Iowa; Nannie Gilliland, Davenport, Ia.; Minnie Gilliland, and H. J. Gilliland of Kirksville. Two children preceded him in death. Funeral services conducted by the Rev. Mr. Davis, were held at the Dee Riley Funeral Home Tuesday afternoon at 2 o'clock and interment was made in Llewellyn cemLindsey Mulford, who disappeared from his home northeast of Kirksville, three years ago and for whom his mother has been searching for a year to tell him of his father's death, is in Los Angeles, Calif., according to a letter received from him by his mother last week. His father was killed December 14, 1928. by a tree he was cutting down falling on him. Young Mulford was 17 years of age when he left Kirksville. He left on Saturday when the first rodeo was held here and the parents believed at first he had gone way with the company. But it was distoveted afterwards that he went from here to Iowa where he found employment and the family heard from him intermittently until in February 1917. When he left Kirksville he had only a small sum of money with him, although he had a savings account of $240 in the Kirksville Savings Bank There had been no trouble at home and his parents never knew why he left home without telling them where he was going. Charles Blakemore died at his home in the northwest part of town Thursday aftermoon of last week at the age of 63 years. He had been confined to his bed for twenty four years, a sufferer from muscular rheumatism. Mr. Blakemore was born in England and came with his family to America in 1898. The Blakemores first settled in Pennsylvania from where they went to Henry county, Missouri. In 1900 moved to Novinger where he worked is the mines at that place and at Danforth. They moved to Kirksville 11 years ago. Besides Mrs. Blakemore, he is survived by two children, Harry Blakemore, of Bevier, and Mrs. Minnie Lant of Quincy. A sister, Mrs. William Cox, lives at Richmond, Mo. There are seven children, who have preceded him in death, a daughter. Mrs. Harvey Kephart, dying a few months ago. Funeral services conducted by Rev. Ralph M. G. Smith, were held at the Dee Riley Funeral Home Sunday afternoon at 1:80 o'elock and burial was made in the Novinger demetery. Andrew Taylor and Harry Still of Macon spent the week end with their grandfather, Dr. H. M. Still. Mrs. L. T. Butler, 701 E. McPherson street who has been ill with pneumonia, is reported to be improving. Mrs. Sarah T. Cole. of Owak, Wash., in a letter renewing her subscription for the Graphic, ask to be kindly remembered to all her old friends in Kirksville and Adair county. A suit for divorce has been filed in circuit court by Velma L. Hunsaker, and she asks for the restoration of her maiden name, Velma L. Hall. The petition states she is 17 years old. that they were married Dec. 12, 1928, and lived together until Sept. 23, 1929. She charges general indignities. Word has been received in Kirksville that Miss Thurba Fiddler, a member of the Teachers College faculty has been marriod to a Mr. Wright of Honolulu, Hawaii, where Mr. Fiddler is spending a years leave of absence. Mrs. Wright is teaching in the Territorial State Normal School at Honolulu and will return to Kirksville next summer. A thin coating of ice formed by frozen mist on sidewalks and streets, made the going on foot or by automobile rather dangerous Monday morning. Feet of pedestrians would slip from under them and automobiles, unless drivers were very careful, would slide. and t n completely around an face the opposite direction from which they were a g. By noon the dangers were over as the coating of thin ice had melted. At the meeting of the city counf cil Monday night the reports O the officers showed that during the month of November there was paid into the city collector the sum of $7,630.73. Chief of Police Darrow collected $47.80 in fines and City Weighmaster McIntosh sold $51.30 worth of scale tickets. Judge Brassfield reported that eight cases were before him for the month, and Fire Chief Howard's report showed there were eight fires in November. Mayor Ewing announced that the special police commission given Eugene Starks as assistant police for the merchants, had been terminated, and appointen P. A. Oliver to take his place emporarily. For insurance or anything in real estate, See A. P. Hopson. Office in courthouse. tf New Location-114 East Harrison Street. Want a good list of properties for sale, your Notary work, and all kinds of Insurance. Lois Buhl. Mrs. J. T. Dabney and daughter, Dorothy, of 1013 North Olive street, were opera on Wednesday morning by Dr. Roy Wolf for removal of tonsils. The annual election of the Woodmen Lodge in this eity was held Friday night and the following were elected: Fred Briggenhurst. consul; Fred Evans, advisor: Cleo Vincent, ibanker; Boyd Howard, clerk; Glen Mitten, escort; Geo. E. Duffie, past consul; Dr. C. M. C. Wilcox, physician; W. A. Vansickel, watchman; Steve Ruban, sentry: Atty. C. E.Murrell trustee for three years; Grove Swigert trustee for two years, and C. H. Becker trustee for one year. After the election and business session, the members went to the fire station where they partook of an oyster supper.