10449. Farmers Exchange Bank (Marshfield, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 1, 1930*
Location
Marshfield, Missouri (37.339, -92.907)

Metadata

Model
gpt-5-mini
Short Digest
ea750c98

Response Measures

None

Description

The articles report the Farmers' Exchange Bank of Marshfield closed in June 1930 and remained closed (references to the bank as closed and later testimony about the closed bank). Arrests of officers for receiving deposits when the bank was failing and problematic bond purchases suggest a bank-specific failure rather than a depositor run. No reopening is mentioned.

Events (3)

1. June 1, 1930* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed amid failure; questionable securities (Pierre Chouteau bonds / mortgage bonds) and alleged improper receipt of deposits while failing; officers later arrested for receiving deposits when bank was in failing condition and bonds posted as security were not fully approved.
Newspaper Excerpt
the failure of the Farmers Exchange bank of Marshfield which closed its doors June
Source
newspapers
2. July 12, 1930 Other
Newspaper Excerpt
Three officers of the closed Farmers' Exchange bank of Marshfield were arrested ... upon charges of receiving deposits when they knew the bank was in falling condition, and fourth warrant was out for the bank's president, Killian.
Source
newspapers
3. May 26, 1931 Other
Newspaper Excerpt
former cashier of the Farmers Exchange Bank of Marshfield, who was testifying ... his bank, now closed, as to the purchase of Pierre Choteau bonds
Source
newspapers

Newspaper Articles (3)

Article from The Springfield News-Leader, June 19, 1930

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Article Text

Special Judge Appointed To Sit During Jury Probe Inquisitorial Body Will Investigate Rogersville Murder and Closing of Marshfield Bank THE special Webster county grand which Circuit Judge H Skinker yesterday ser.t into an investigation of the handling of publie money by county officials recent bank failures in the county, and the murder of Ernest Peck near Rogersville "ran into some other stuff we didn)t expect but it is getting along all right asserted Prosecutor Edwin M. Mills. who is directing the inquiry's night elected by the Webster county bar to sit as special judge throughout the duration of the grand jury. In addition to a regular term of court at Bolivar next week. Judge Skinker has full program of work outlined for the remainder of the summer which prevented him from remaining in Marshfield until the grand jury has completed its investigation SEVERAL DAYS WORK The grand jury will meet today and then recess unwill require several In his charge Jurige Skinker stated in the handling of Webster county funds had.been called to his attention that in view of recent bank failures in the county he deemed it well for the grand jurors at this time to investigate the handling of public money ascertain if bonds protecting public deposits are sufficient, and the like The fudge also gave detailed instructions regarding the receipt of deposits by banks known to be m failing condition This Instruction apparently prepared the jury for a probe into the failure of the Farmers Exchange bank of MarshHeld which closed its doors June and in which there was $4) of Webster county money en deposit time OFFICERS TO TESTIFY Judge Skinker urges the jury to expedite its work as much as but to and return few rather than many in which the state cannot well hope for conviction. Among the principal witnesses in regard to the slaying from ambush of Ernest Peck and a similar attempt on his brother Ervin's life will probably be Constable Jonn Lewis' of Rogersville and Sheriff John Poynor and Prosecutor Mills of Marshfield The officers are understood to have considerable in. Leonard Mills who are now free under heavy bonds awaiting preliminary hearings on charges of assault with intent to kill Ervin Peck T C. Bassore Rogersville merchant. was named foreman of the grand jury by Judge Skinker Judge Skinker's last official net before returning to Bolivar last right was to pronounce 3-year penitentiary sentence upon Jess Deckard. Fordland farmer whom jury convicted Tuesday of stealing $600 of eggs from a Seymour warehouse last March A charge growing out of Deckard's arrest here three weeks ago with Lottle Wester year Fordland girl. who said he had taken her to St. Louis with will be left pending against the young farmer release from the penitentiary It was to hold preliminary hearing for im on the new charge until the theft case had been ed away. and the hearing will be indefinitely delayed again on count of the Mills stated


Article from Springfield Leader and Press, July 12, 1930

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Article Text

FOUR ACCUSED MARSHFIELD BANK FAILURE Prosecutor Reports Much 'Bad Business' Revealed in Inventory STATE NOT PROTECTED Mortgage Bonds Posted as Security Were Not Fully Approved Three officers of the closed Farmers' Exchange bank of Marshfield were arrested this morning upon charges of receving deposits when they knew the bank was in falling condition, and fourth warrant was out for the bank's president, Killian. Bonds of $2000 each were fixed this morning by Justice Haymes of Marshfield as three the quartet of accused bankers were taken before him. The trio was composed Killian, director the closed bank and president the Killian Canning company: Bohannon, cashier, who headed


Article from Rich Hill Mining Review, May 28, 1931

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Article Text

THE BRUNK TRIAL NEARING A FINISH Prosecutors of Accused Treasurer Concluding their Evidence; Brunk to Take the Witness Stand Jefferson City, May 26.-A witDess with a bazy memory was the target today of Missouri's senate sitting as 8 high court of impeachment in the trial of Larry Brunk, accused state treasurer. The senators fired 8 fusillade of questions at.). M. Bohanan, former cashier of the Farmers Exchange Bank of Marshfield, who was tes. tifying on the part of the prose cution. The former cashier was called to relate the operations of his bank, now closed, as to the purchase of Pierre Choteau bonds, the security that has played such 8 prominent part in this trial and with which the prosecution charges Brunk was friendly as to their use 83 8 co:lateral for state deposits. It is the contention of the defense that the bonds were marketed to country banks by the sauve and fast-talking salesman, W. H. Norwine, whose whereabouts are now unknown. and that Brunk was in conspiracy with promoters of the bonds to sell them and received a financial reward of $10,000 for his alleged aid in their behalf. This the accused treasurer denies, explaining that he did receive $10,000 from J. K. Edlin. former president of the Provident Securities Company, Chicago, brokering the bond issue, but that it was a personal loan. Bohanan said his bank purchased $100,000 of the Pierre Chou teau issue following & call in June, 1929, from Norwine and Pope G. Meyers, & Springfield desler in in The prosecutors of Brunklexpect to conclude their direct evidence tomorrow. They had planned to bring their evidence to M conclusion today, but the testimony strung out. Brunk will be the principal witness in his own bahalf and will be supported by approximately twenty-five others, including character witnesses, Madden said tonight. At the close of the prosecution's case Madden will interpose demurrer to each of the nine articles of impeachment. There 18 little likelihood the de murrers will be sustained for sev. eral seasons, it is belived.