Bank of Oak Grove - Oak Grove, MO

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: November 3, 1931
Location: Oak Grove, Missouri (39.007, -94.128)

Metadata

Model: gpt-5-mini
Short Digest: d6d1b873

Response Measures

Full suspension, Books examined

Other: Bank closed by action of board; state examiner sent to take charge (receiver).

Description

Article (Nov 3, 1931) reports the Bank of Barnett (Morgan County, MO) was closed by action of its board because of steady withdrawals; state examiner was sent to take charge. Classified as a run leading to suspension/closure and receivership.

Events (2)

1. November 3, 1931 Receivership

Newspaper Excerpt: State Bank Examiner Fern Willard was sent to take charge of the institution.
Source: newspapers

2. November 3, 1931 Run

Cause Details: Steady withdrawal of deposits (heavy withdrawals/run) forced the bank into closure.
Measures: Board of Directors closed the bank; State Bank Examiner Fern Willard sent to take charge.
Newspaper Excerpt: Steady withdrawal of deposits was blamed in each case. The Bank of Barnett, in Morgan county, failed ...
Source: newspapers

Newspaper Articles (1)

1. November 3, 1931 The Chillicothe Constitution-Tribune Chillicothe, MO

Article from The Chillicothe Constitution-Tribune, November 3, 1931

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Article Text

THREE MISSOURI STATE BANKS FAILED TODAY Steady Withdrawal of Deposits Was Blamed In Each Case JEFFERSON CITY, Nov. 3-(UP)Three Missouri state banks failed today, notifying the State Finance Department they had been closed by action of the Boards of Directors. Steady withdrawal of deposits was blamed in each case. The Bank of Barnett, in Morgan county, failed with resources of $150,085, capital stock of $25,000 and deposits of $121,800. W. W. Gillum was president State Bank Examiner Fern Willard was (sent to take charge of the institution. The Bank of Oak Grove, in Jackson county, failed with resources of $216,700. capital stock of $20,000, and deposits of $162,500. James M. Guy was president. Back Examiner L. J. Mulligan took over the institution. The Bank of Waverly. in Lafayette county, failed with resources of $135,000 capital stock of $20,000 and deposits $82,815. Dresses cleaned and pressed, 75c. O'coats and heavy ladies' coats, $1.00. Delivery. Phone 461. Banks Cleaners.