10470. North Missouri Trust Company (Mexico, MO)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: trust company
Start Date: June 1, 1930
Location: Mexico, Missouri (39.170, -91.883)

Metadata

Model: gpt-5-mini
Short Digest: 98261348

Response Measures

Full suspension

Other: Bank was turned over to the State Finance Department (state supervision takeover). No re-opening reported in articles.

Description

Multiple contemporaneous articles (dated June 4–6, 1930) report a heavy 30-day run started by unfounded rumors withdrawing over $200,000; the board closed the bank on June 4 and turned it over to the State Finance Department. Articles state depositors likely to be paid, but no reopening is reported. Classified as run → suspension → closure.

Events (2)

1. June 1, 1930 Run

Cause: Rumor Or Misinformation
Cause Details: Unfounded false rumors spread through Mexico and surrounding community; over $200,000 withdrawn within ~30 days; heavy run in last 3–4 days precipitated closing.
Measures: Bank decided to close to avoid further depletion of cash; board suspended operations and turned institution over to State Finance Department.
Newspaper Excerpt: the run was started by unfounded rumors, and that over $200,000 in deposits had been withdrawn in the past thirty days
Source: newspapers

2. June 4, 1930 Suspension

Cause: Rumor Or Misinformation
Cause Details: Board ordered closure after heavy and continuous run attributed to unfounded rumors; bank operations suspended and control turned over to state finance officials.
Newspaper Excerpt: was closed today by its board of directors and turned over to the State Finance Department
Source: newspapers

Newspaper Articles (15)

1. June 4, 1930 Auxvasse Review Auxvasse, MO

Article from Auxvasse Review, June 4, 1930

Click image to open full size in new tab

Article Text

North Missouri Trust Co. Failed to Open Today The North Missouri Trust Co. of Mexico was reported to have failed to open its doors this morning, following a very heavy run of several days. At the close of this bank's 27th year of business on March 31, 1930, it had a capital and surplus of $180,000, undivided profits of $21,611.19, deposits of $911,163.98, and total resources of $1,239,369.94. This is the second bank failure in Mexico in recent months. Wants to Be State Senator James S. Rollins this week makes formal announcement in The Review of his candidacy for State Senator from the 10th District, comprising Callaway and Boone counties. Mr. Rollins is a well known lawyer of Columbia and has very ably represented his county in the State Legislature during the recent sessions. It is not considered probable that he will have opposition in the primary. Miss Virginia Backer, of Fulton, Marion and Arthur Backer, of Kansas City, and Carson Backer of Fulton, were guests at the home of their cousins, Mr. and Mrs. F. M. Holland, on Monday. Carson Backer has recently been discharged from the U. S. Navy after a four-year enlistment. Two men may call each other liars and both be telling the truth.

2. June 4, 1930 Fulton Daily Sun-Gazette Fulton, MO

Article from Fulton Daily Sun-Gazette, June 4, 1930

Click image to open full size in new tab

Article Text

STEADY RUN CAUSES MEXICO BANK TO CLOSE North Missouri Trust Company Suspends Business This Morning ORDERED BY BOARD UNFOUNDED RUMORS SAID TO HAVE CAUSED RUN ON AUDRAIN INSTITUTION. Br ASSOCIATED PRESS Jefferson City, Mo., June 4.-Because of a steady run said to have been started by unfounded rumors, the North Missouri Trust Company, at Mexico, which had $1,167,800 total resources, was closed today by its board of directors and turned over to the state finance department, it was announced by S. L. Cantley, state finance commissioner. J. C. Mundy, president of the bank, came here this morning for a conference with Commissioner Cantley, and said here that over $200,000 in deposits had been withdrawn within the last 30 days. Mr. Mundy said the bank was in better condition, that business had been better, that deposits were larger and losses were in better shape than ever before in the history of the institution. He said that someone had started a false rumor about the bank condition, which had spread through Mexico and the surrounding community. The president said it was decided after a heavy run during the last three or four days that it would be to the best interests of the bank to close it. He said the stock holders will have to lose only $200,000 before the depositors will have to lose a cent and said he believed there would be no loss to depositors. The bank's last statement as of April 16 shows it had $150,000 capital; $30,000 surplus; $15,650 undivided profits; $837,000 deposits and $763,120 loans. This second closing of a bank in Mexico this year, the Southern Trust Company closing on March 13. Three banks remain in the city. They are: the First National Bank, the Farmers & Merchants Bank and the Savings Bank. The bank has approximately $12.000 in state auto license receipts on deposit, President Mundy said, but added that this is secured by bonds held in a trust fund in St. Louis and there would be no loss to the state. West Plains-The formal opening of the new First Methodist Church here will be held June 8. See Sun-Gazette for Job printing.

3. June 4, 1930 Jefferson City Post-Tribune Jefferson City, MO

Article from Jefferson City Post-Tribune, June 4, 1930

Click image to open full size in new tab

Article Text

Rumor of Closing After Conference With Cantley, Says Mundy, In Better Condition Than Ever But Institution That False Story Wrought Havoc. of steady run said Because been started by unto have The North founded rumors, Trust Company at Missouri Mexico, which had tal was closed today resources, its board of directors and by turned to the State Finanover Department, was announcCantley, state today by finance commissioner. Mundy, president of the bank came here this morning for conference with CommisCantley and said here sioner that over $200,000 in deposits had been withdrawn within the days. Mundy said the bank was in better condithat business had been tion, better, that deposits and loans were in better shape than ever before the history institution. He said that of the someone had started false ruabout the bank's condition mor which had spread throughout Mexico and the surrounding community. The president said decided after heavy during the last three four days that it would be the best interest of the bank to close He said the stockhold- will have to lose only $200,000 before the depositors will have lose cent and said he believed there would be no loss to depositors. The bank's last statement of April showed had $150,000 capital, $30,000 surplus, $15,650 undivided profits, $837,000 deposits, The North Missouri Trust Company the second Mexico bank close recently. the Southern Trust Company of Mexico, which had $490,000 total resources, been closed March 13. Withdrawal of county deposit, slow loans and general conditions were responsible for that closing, finance department officials said. The North Trust Company has approximately $12,000 state automobile license receipts deposit, President Mundy said, but added that this secured bonds held in trust fund Louis bank and there would be no loss to state. Asked steps would be takto effect reorganization of the bank. President Mundy said was impossible at this time to whether not say there would

4. June 4, 1930 Moberly Monitor-Index and Moberly Evening Democrat Moberly, MO

Article from Moberly Monitor-Index and Moberly Evening Democrat, June 4, 1930

Click image to open full size in new tab

Article Text

Head of North Missouri Trust Co. Blames False Rumor for Heavy Run WITHIN 30 DAYS CITY, June have been started by unfounded North rumors, at Mexico, which had Company total closed today by Its board turned to the State tors and Finance Department, was nounced today Cantley, state finance Mundy, president of the bank came here this morning conference with Commissioner Cantley and said here that deposits been within thirty drawn Mundy bank was that business better better, that deposits were been loans better larger and than before the shape He said tory the that had started about the bank's rumor which had spread ico and the said was during three four days that would be the best said the the to close have before the depositors lose said have cent there would be loss believed depositors. last of The bank's showed it had April capital, $30,000 deundivided profits, and $673,120 loans. posits, Missouri Trust ComThe North the second bank to close pany the Southern Trust recently, Mexico, which had $490,pany 000 having been Withdrawal of closed March slow loans and county deposit, were responsigeneral for that closing, finance partment North Missouri Trust ComThe has $12,000 license receipts deposits, President Mundy said, but added that this is secured by held trust fund bonds Louis bank and there would loss to the state. no Asked would be taken to effect the bank, Mundy said this say not there would recently became Mundy only president of the bank, succeeding who now chairboard Pollock accompanied Mundy here the conference with CommisCantley after the bank was sioner closed this morning. Feutz cashier.

5. June 4, 1930 The Sedalia Democrat Sedalia, MO

Article from The Sedalia Democrat, June 4, 1930

Click image to open full size in new tab

Article Text

CLAIM BANK President Says Trust pany at Mexico Was In Good Shape The Associated JEFFERSON Mo., June of steady run said have been started by unfounded numors, the North Missouri Trust Company at which had total resources, closeded today by its board rectors turned over to the state finance an nounced today by Cantley, state Mundy, president of the bank, came there this morning for conference with Commissioner Cantley said here that over deposits had been withdrawn within the last thirty days. Mundy the bank better condition, that had been better, were larand loans twere in better shape than before in the history of the institution. He said that somehad started false rumor about the bank's condition which had spread throughout Mexico the community. The president said decided after heavy during the last three four days that would be to the best interest of the bank close He said the stockholders will have to lose only $200,000 before depositors have to lose and said he believed there would be no loss to depositors. The bank's last statement April had $150,000 capital, $30,000 surplus, divided profits, deposits $763,120. The North Missouri Trust Com pany the second Mexico bank Southern Trust Company Mexico, which had $490,000 total having closed March Withdrawal county deposit, slow loans and general conditions were responsible for that closing, finance department officials said. The North Missouri Trust Company has approximately $12,000 state automobile license receipts deposit, President Munday said, but added that this by bonds held in trust fund Louis bank and there would be no loss state. Asked steps would be taken to effect reorganization the bank, President Munday said impossible this time to whether say or not there would be. Munday only recently became president the bank, succeeding Pollock, who now chair the board directors. Pol lock accompanied Munday here for the conference with Commissioner Cantley after the bank closed this morning. Feutz cashier.

6. June 4, 1930 The Daily News and Intelligencer Mexico, MO

Article from The Daily News and Intelligencer, June 4, 1930

Click image to open full size in new tab

Article Text

NORTH MISSOURI TRUST COMPANY CLOSED WEDNESD AFTER HEAVY AND CONTINUOUS RUN FOR 30 DAYS PRESIDENT MUNDY ISSUES STATEMENT THAT DEPOSITORS WILL PROBABLY BE PAID IN UNFOUNDED RUMORS WHICH QUICKLY SPREAD TO HAVE CAUSED STEADY Because of heavy and continuous run during the past few weeks, the North Missouri Trust Company was closed here Wednesday by its Board Directors and turned over to the State Finance Department. A statement issued by C. Mundy. president. which said the assets amounted to $200,000 in excess of abilities, pointed out that in his opinion. the depositors would be paid in full. It follows: "Due to recent heavy and continuous withdrawals of deposits which we were unable to stop. we deemed it to the best interest of the depositors and stockholders to close without further depleting our cash. think there can be no question that the bank will not only pay the depositors in full but will also pay pbstantial amount of its stock liabilIn round numbers the assets at the close of business last night amounted to $200,000.00 in excess of liabilities." It was said that the run was started by unfounded rumors, and that over $200,000 in deposits had been withdrawn in the past thirty days, due to the false rumors about the condition of the institution which quickly spread through Mexico and the surrounding community. Mr. Mundy went to Jefferson City Wednesday to confer with State Bank Commissioner S. Cantley. and told The Associated Press that until the last thirty days. when the run was started. the bank was in better condition. that business had been better, deposits were larger and losses in better shape than ever before in the history of the institution. He said that it was decided after heavy run during the past three or four days that would be to the best Interest of the bank to close it, adding that the stockholders would have to lose only $200,000 before the depositors will have to lose cent and said he believed there would be no loss to depositors. Mr. Mundy also told The Associated Press, when asked if steps would be taken to affect reorganization that was impossible to say at this time. said that $12,000 state automobile receipts were on deposit. but added that this is secured by bonds held in trust fund in St. Louis bank and there would be no loss to the state. He was accompanied to JefferCity by W. W. Pollock. chairman of the Board of Directors. W. Feutz is cashier of the institution. The bank's last statement on April 16 showed capital of $150,000: surplus, $30,000; undivided profits, $15.650: deposits, $837,000 and loans, statement made here April the Trust Company. at the close of its year's business. shown that deposits had risen from $138,118.86 at the close of the first year's business on March 31. 1904, to on March 31, 1930, steady increase being recorded throughout the 27 years. W. W. Pollock was president of the bank dur ing this entire period. It was stated in March. 1930. more new accounts had been opened than in any 30-day period and the deposits for that month increased $62,803 Mr. Mundy became president of the bank May 5. last, succeeding Mr. Polwho became chairman of the of directors. The Trust Company is the second close here, the Southern Trust being closed March 13, last. Following are the stockholders of Trust Company. as listed June and the number of shares each Mrs. Minnie B. Azdell, 10: W Azdell. 10: Mrs. Emilie Bartels, Mrs. Emma Bridgeford, 13: Brown. D. Burroughs, 10; Cave 10: Mr. and Mrs. George CoakMrs. Nona Coakley. James Crawford, Julia and Gertrude Cunningham, M. Dozier estate, John Denser, 15; Wm. Eller, 15: P. EmErisman, 10: R. Mrs. Gibbs, Mildred Glandon. Mrs. Marie Rose GorMrs. Mrs. Stella

7. June 4, 1930 Daily American Republic Poplar Bluff, MO

Article from Daily American Republic, June 4, 1930

Click image to open full size in new tab

Article Text

CANDIDATES MEXICO BANK MUST FILE CLOSED AFTER BY JUNE 6 STEADY "RUN" Many Persons Wishing to Hold County Offices, List Declarations With County Clerk. PRIMARY TO BE HELD AUGUST Several Vacancies Yet to Be Filled by CommitteesWarm Contest Is Expected. With only two more days remaining in which candidates may file for office before the August primary election, members of the Republican and Democratic county committees were today scouting around, lining up candidates and getting their names filed before the time limit expires. Tuesday and today brought out number of office seekers, many of whom have been waiting to see how the land lay before they threw their hats into the political ring. At least one candidate has filed for each of the major county offices on the Republican ticket, but up until noon today no candidates had announced for some of these offices on the Democratic ticket. Seek Judgeship. Haag, Democrat, and W. Holcomb, Republican, filed yesterday declarations of their candidacy for the office of presiding judge of the county court. Dr. R. Turner of Harviell, member of the court, yesterday also filed as candidate on the Republican ticket for judge of the Western district. So far, Turner is unopposed. In the Eastern district, Abernathy and Fred Platt have filed as candidates for judge of the county court on the Republican ticket, and Arch King the lone Democratic candidate. No Demoeratic candidate has filed for judge of the western district as yet. Albert Robinson of Poplar Bluff Tuesday filed for the Democratic nomination for judge of the probate court. D. B. Deem, present incumbent, is the only Republican to file for this place. Other Candidates. Harvey E Johnson and Ed. Hiter, both of Poplar Bluff, Monday filed as Democratic candidates for the nomination for justice of the peace of Poplar Bluff township. of Kellytown is already candidate the Democratic ticket. There are three justices to be elected which fills the Democratic ticket for this office. W. G. McPheeters and S. H. Myrant, Republicans, filed as justice the peace candidates some time ago, and one vacancy remains to be filled by their party for this office. Several candidates for members of the Butler County Republican Cential Committee from Poplar Bluff wards filed notices of their candidacy yesterday Among them were John Gloriod and Mrs. Priest Jr. from the third ward, William Weavand Martha Pyle from the fourth ward, W. Dalton from the fifth ward, and Mrs. R. M. Elkins from the first ward. M. Watson and Mrs. Alphie E. Holloway also filed for Republican committee members from Poplar Bluff township. To Fill Tickets. By Thursday night, both parties to have their tickets filled. expect A number of candidates for major offices on the Democratic county known to be holding off ticket are (Continued on Page Unfounded Rumors Blamed for Crash of Big Institution in Missouri City. OVER $200,000 IN DEPOSITS WITHDRAWN Second Mexico Bank to Close Loans Blamed for Bank's By The Associated Press Jefferson City, Mo., June cause of steady run said to have been started by unfounded rumors, the North Missouri Trust Company at Mexico, which had total resources, was closed today by its board of directors and turned over the State Finance Department, was announced today by L. CantSstate Finance Mundy, president of the bank came here this morning for conference with Commissioner Cantley and said here that over 200,000 in deposits had been withdrawn within the last thirty days. Mr. Mundy said the bank was in better condition, that business had been better, that deposits were larger and loans were in better shape than ever before in the history of the institution. He said that someone had started false rumor about the bank's condition which had spread throughout Mexico and the surrounding community. The president said it was decided after heavy run during the last three or four days that it would be to the best interest of the bank close it. He said the stockholders have to lose only 200,000 before depositors will said he lieved there would be no loss to depositors. The Statement. The bank's last statement as of April 16, showed it had 150,000 eapital, 30,000 surplus, 15,650 undivided profits, deposits. The North Missouri Trust Company is the second Mexico bank to close recently, the Southern Trust Company of Mexico, which had $490,000 total resources, having been closed March 13. Withdrawal of coundeposit, slow loans and general conditions were responsible for that closing, finance department officials said. The North Missouri Trust Company has approximately $12,000 state alltomobile license receipts on deposit, President Mundy said, but added that this is secured bonds held in trust fund in St. Louis bank and there would be no loss to the state. Reorganization. Asked if steps would be taken to effect reorganization of the bank, President Mundy said it was impossible at this time to say whether or not there would Mundy only recently became president of the bank, succeeding W. W. Pollock, now chairman of the board of directors Pollock accompanied Mundy here for the conference with Commissioner Cantley after the bank closed this morning. W. was Feutz is cashier. SNAKE VICTIM IMPROVED Ephie Carpenter, the Dealtown district man who was bitten by rattlesnake Monday evening, was reported getting along nicely today. He will suffer no permanent effects from his experience, physicians believe. Carpenter was struck on the left hand by snake, while he was picking up brush in woods pasture.

8. June 5, 1930 The Missouri Telegraph Fulton, MO

Article from The Missouri Telegraph, June 5, 1930

Click image to open full size in new tab

Article Text

CAUSES STEADY RUN CLOSE BANK TO MEXICO North Missouri Trust ComBusiness Suspends pany This Morning BOARD BY ORDERED SAID TO RUMORS UNFOUNDED HAVE CAUSED RUN ON AUDRAIN INSTITUTION. June Jefferson City, said to have steady run cause been started by unfounded rumors, the North Missouri Trust Company. towhich had at Mexico, today by was closed tal its board of directors and turned state finance departover to the announced by ment. was Cantley, state finance C. Mundy, president of the bank, came here this morning for conference with Commissioner Cantley, and said here that over in deposits had been withlast 30 days. Mr. drawn within the in betthe bank was Mundy said business had that ter been better, that deposits were largin better shape and loans were the history of than ever before in He said that somethe one had started false rumor about condition, which had the bank spread through Mexico and the surrounding community. The president said It was decided after heavy run during the last three or four days that would to the best interests of the bank He the stock holdto close said have to lose only $200,ers the depositors will have 000 before and said he believed to lose cent there would be loss to depositno The bank's last statement as 16 shows had $150,000 April $30,000 $15,650 capital; undivided profits; deposits and $763,120 This the second closing of bank in Mexico this year, the Southern Trust Company closing on March 13. Three banks remain in the city. They are: the First National Bank. the Farmers Merchante Bank and the Savings Bank. The bank has approximately $12.in state auto license receipts on deposit, President Mundy said, but added that this secured by bonds trust fund in there would be no loss to the state.

9. June 5, 1930 St. Louis Globe-Democrat St. Louis, MO

Article from St. Louis Globe-Democrat, June 5, 1930

Click image to open full size in new tab

Article Text

HEAVY RUN CLOSES BANK AT MEXICO $1,167,800 Institution Head Doesn't Think Depositors Will Lose. By Associated Press. JEFFERSON CITY. MO., June Because of steady run, said to have started by unfounded rumors, the North Missouri Trust Company at Mexico, which had 800 total resources, was closed today by its Board of Directors and turned over to the State Finance Department. it was announced today by S. L. Cantley, State Finance ComJ. C. Mundy. president of the bank, came here morning for conference with Commissioner Cantley and said here that over $200,000 in deposits had been withdrawn within the last thirty days. Mr. Mundy said the bank in better condition, that business had been better that deposits were larger and loans in better shape than before in the history of the institution. The bank's last statement as of April showed had $150,000 capital, $30,000 surplus, $15,650 unlivided profits, $837,000 deposits and $673,120 loans.

10. June 5, 1930 Poplar Bluff Republican Poplar Bluff, MO

Article from Poplar Bluff Republican, June 5, 1930

Click image to open full size in new tab

Article Text

MEXICO BANK CLOSED AFTER STEADY "RUN" Unfounded Rumors Blamed for Crash of Big Institution in Missouri City. OVER $200,000 IN DEPOSITS WITHDRAWN Second Mexico Bank to Close Recently-Slow Loans Blamed for Bank's Failure. Jefferson City, Mo., June cause of steady run said have been started by unfounded rumors, the North Missouri Trust Company at Mexico, which had total resources, was elosed today by its board of directors and turned over to the State Finance Department, was announced today by CantSstate Finance Mundy, president of the bank came here this morning for conference with Commissioner Cantley and said here that over 200,000 in deposits had been withdrawn within the last thirty days. Mr. Mundy said the bank was in better condition, that business had been better, that deposits were larger and loans were in better shape than ever before in the history of the institution. He said that someone had started false rumor about the bank's condition which had spread throughout Mexico and the surrounding community. The president said it was decided after heavy run during the last three or four days that it would be to the best interest of the bank to close it. He said the will have to only 200,000 before the depositors will have to lose cent and be said lieved there would no positors. The bank's last statement of as 16, showed it had 150,000 capital, 30,000 surplus, 15,650 undivided profits, $837,000 deposits. The North Missouri Trust Company is the second Mexico bank to close recently, the Southern Trust Company of Mexico, which had $490,000 total resources, having been closMarch 13. Withdrawal of coundeposit, slow loans and general conditions were responsible for that closing, finance department officials said. The North Missouri Trust Company has approximately $12,000 state automobile license receipts on deposit, President Mundy said, but added that this is secured by bonds held in trust fund in St. Louis bank and there would be no loss to the state, Reorganization. Asked if steps would be taken to effect reorganization of the bank. President Mundy said it was impossible at this time to say whether or there would be. not Mundy only recently became president of the bank, succeeding Pollock, now chairman of the board of directors. Pollock accompanied Mundy here for the conference with Commissioner Cantley after the bank was closed this morning. Feutz is cashier.

11. June 5, 1930 Sedalia Weekly Democrat Sedalia, MO

Article from Sedalia Weekly Democrat, June 5, 1930

Click image to open full size in new tab

Article Text

President Says Trust Company at Mexico Was In Good Shape Associated Press. JEFFERSON CITY, Missouri of steady run said have been by unfounded rumors, North Trust Company which had total resources, closed Wednesday by its board directors turned to state finance department. an nounced Wednesday by Cantstate finance Mundy, president of bank, came here Wednesday for conference with Commissioner Cantley and said here that $200,000 in deposits had been with drawn within the thirty days. Mr. Mundy the bank better condition, that business been better, that deposits larger and loans twere in better than ever before the history the institution. He said that had started rumor about the bank's which had spread throughout and the surrounding community. presidecided after heavy during the last three four days that would to interest bank close He said lose $200,000 before the depositors will to lose said believed there would be loss depositors. The bank's statement April showed capital, $30,000 surplus, divided profits, $837,000, deposits The North Missouri Trust Comthe Mexico bank close Southern Trust Company Mexico, which total having been closed March 13. county deposit, slow loans and responsible that closing, finance department officials said. North Missouri Trust Company approximately automobile license receipts deposit, President Munday said, added that this bonds held in trust fund Louis bank and there would no Asked steps would be taken effect reorganization the President Munday said possible this time say there would Munday only recently became of bank, Pollock, board directors. Polof lock accompanied Munday here for Commissioner the after the bank closed Cantley Feutz morning.

12. June 5, 1930 Martinsburg Monitor Martinsburg, MO

Article from Martinsburg Monitor, June 5, 1930

Click image to open full size in new tab

Article Text

NORTH MO. TRUST COMPANY CLOSES DOORS WED. MORN The North Missouri Trust Company, one of Mexico's oldest banking Institutions closed its doors Wednesday morning. following run on the bank Tuesday afternoon. Unofficial reports gave frozen assets as the reason for the closing of the bank. Mundy is president and Wallace Feutz is cashier of the bank having succeeded the late E. M. Dozier.

13. June 5, 1930 Mexico Weekly Ledger Mexico, MO

Article from Mexico Weekly Ledger, June 5, 1930

Click image to open full size in new tab

Article Text

NORTH MISSOURI TRUST COMPANY CLOSED WEDNESD AFTER HEAVY AND CONTINUOUS RUN FOR 30 DAYS PRESIDENT MUNDY ISSUES STATEMENT THAT DEPOSITORS WILL PROBABLY BE PAID IN FULL; UNFOUNDED RUMORS WHICH QUICKLY SPREAD TO HAVE CAUSED STEADY Because of heavy and continuous run during the past few weeks, the North Missouri Trust Company was closed here Wednesday by its Board of Directors and turned over to the State Finance Department. statement Issued by J. Mundy, president. which said the assets amounted to $200,000 in excess of abilities, pointed out that in his opinion, the depositors would be paid in full. It follows: "Due to recent heavy and continuous withdrawals of deposits which we were unable to stop, we deemed it to best interest of the depositors and to close without further depleting our eash, think there can be no question that the bank will not only pay the depositors in full but will also pay substantial amount of its stock liabilitles. In round numbers the assets at the close of business last night amounted to $200,000.00 in excess of liabil- It was said that the run was started by unfounded rumors, and that over $200,000 in deposits had been withdrawn in the past thirty days, due to the false rumors about the condition of the institution which quickly spread through Mexico and the surrounding Mr. Mundy went to Jefferson City Wednesday to confer with State Bank Commissioner S. L. Cantley, and told The Associated Press that until the last thirty days, when the run was started. the bank was in better condition, that business had been better, that deposits were larger and losses in better shape than ever before the institution. He said that was decided after heavy run during the past three four days that would be to the best interest of the bank to close it, adding that the stockholders would have to lose only $200,000 before the depositors have to lose cent and said he believed there would be no loss to positors. Mr. Mundy also told The Associated Press, when asked if steps would be taken to affect reorganization that was impossible to say at this time. He said that $12,000 state automobile license receipts were on deposit, but added that this is secured by bonds held in trust fund in St. Louis bank and there would be no loss to the state. He was accompanied to Jefferson City by W. W. Pollock, chairman of the Board of Directors. W. Feutz is cashier of the institution. The bank's last statement April capital of $150,000: sur$30,000; undivided profits, $15,650: deposits, $837,000 and loans, $763,120. In statement made- April the Trust Company, at the close of its year's business, it was shown that deposits had risen from $138,118.86 at the close of the first year's business on March 31, 1904, to $911,163.98 on March 31, 1930, steady increase being recorded throughout the 27 years. W. W. Pollock was president of the bank during this entire period. It was stated that in March. 1930, more new accounts had been opened than in any other period and the deposits month increased Mundy became president of the bank May last, succeeding Mr. Pollock who became chairman of the board of directors. The Trust Company is the second bank close here, the Southern Trust Company being closed March 18, last. Following are the stockholders the Trust Company, June 1929, and the number of shares each holds: Mrs. Minnie B. Azdell, Mrs. Emma Bridgeford, George H. Brown, 5: D. S. Burroughs. Cauthorn, 10; Cave estate, 10; Mr. and Mrs. George CoakMrs. Nona Coakley, James Crawford, 5: Julia and Gertrude Dozier estate. Denser, 15; Wm. Eller, 40; W. Erisman, 10: 50; Dr. Gibbs. Mildred Glandon, Mrs. Marie Rose GorGroves, Mrs. 15; Mrs. Stella

14. June 6, 1930 The Louisiana Press-Journal Louisiana, MO

Article from The Louisiana Press-Journal, June 6, 1930

Click image to open full size in new tab

Article Text

ANOTHER MEXICO BANK CLOSES NORTH MISSOURI TRUST COMPANY CLOSES AFTER HEAVY RUN. Jefferson Mo., 4.-Because of steady said to have been started by unfounded rumors, the North Missouri Trust company at Mexwhich had $1,167,800 total resources, was closed today by its board directors and turned over to the State Finance department, was announced today by S. L. Cantley, state finance J. C. Mundy president of the came here this morning for a conference with Commissioner Cantley and said here that over $200,000 in deposits had been withdrawn within the last thirty days. Mr Mundy said the bank was in better condition. that business had been better that deposits were larger and loans were in better shape than ever before in the history of the He said someone had started false about the bank's condition which had spread throughout Mexico and the communi* The president said was decided after a heavy during the three or four days that it would be to the best interest of the bank to close He said the stockholders will have to lose $200,000 before the depositors will have to lose cent and said he believed there would be no loss to depositors. The bank's last statement as of April 16 showed it had $150,000 capital, 000 $15,650 undivided $837 deposits and loans The North Missouri Trust company is the second Mexico bank to close cently the Southern Trust company of which had total having been closed March Withdrawal of a county deposit, slow loans and general conditions were responsible for that Finance department officials said The North Missouri Trust company has approximately $12,000 state automobile license receipts on deposit, President Mundy said, but added that this is secured by bonds held in trust fund in Louis bank and there would be no loss to the state Asked if steps would be taken to effect reorganization of the bank President Mundy said it was impossible at this time to say whether or not there would be Munday only recently became president of the bank, succeeding W W Pollock, who now is chairman of the board of directors. Pollock accompanied Mundy here for the conference with Commissioner Cantley after the bank was closed this morning. W. Feutz is cashier.

15. June 6, 1930 Centralia Fireside Guard Centralia, MO

Article from Centralia Fireside Guard, June 6, 1930

Click image to open full size in new tab

Article Text

MISSOURI TRUST COMPANY IS CLOSED The North Missouri Trust Mexico closed its doors nesday by order of its board directors. President day has issued statement which he says the depositors will be paid in full and there doubt but the stockholders realize something their is said there excess of Mr. Mundy there heavy and continuous made the bank and they decided to close for the best interests of concerned. Before the the bank was in as fine financial condition any stitution in the state. The mors were unfounded and ious. The last statement of this stitution showed capital of surplus, divided profits, $15,650; deposits, and loans This the second bank close Mexico since March the other being the Missouri Trust Co. Dr. Brooks president of the Missouri University this week after the of that by Walter Williams Columbia. Brooks had been with the university since He will continue draw his salary president until December altho will have no tion with the university. planning visit in Belle Vista, Arkansas this summer.