First National Bank - Ridgeway, MO

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 6549
Charter Number: 6549
Start Date: December 3, 1930
Location: Ridgeway, Missouri (40.378, -93.937)

Metadata

Model: gpt-5-mini
Short Digest: c33c675a

Response Measures

Full suspension, Books examined

Other: Receiver W. J. Gebhard appointed and paid dividends; bank assets liquidated and building sold.

Receivership Details

Depositor recovery rate: 86.8%
Date receivership started: 1930-12-23
Date receivership terminated: 1937-03-31
Share of assets assessed as good: 19.2%
Share of assets assessed as doubtful: 71.4%
Share of assets assessed as worthless: 9.4%

Description

Articles report heavy withdrawals preceding the bank's failure to open in early December 1930; the bank was placed in receivership (W. J. Gebhard) and remained closed, with receivers paying dividends in 1931-1932. No evidence the bank reopened as a going concern.

Events (5)

1. December 22, 1902 Chartered

Source: historical_nic

2. December 3, 1930 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank failed to open following heavy withdrawals and deterioration of cash situation; directors/management did not open the bank.
Newspaper Excerpt: The First National Bank of Ridgeway, Mo., failed to open yesterday.
Source: newspapers

3. December 4, 1930 Receivership

Newspaper Excerpt: W. J. Gebhard, receiver of the First National bank of Ridgeway, Mo., ... (receiver referenced in subsequent articles).
Source: newspapers

4. December 23, 1930 Receivership

Source: historical_nic

5. * Run

Cause: Bank Specific Adverse Info
Cause Details: Heavy withdrawals in recent months prompted by bank-specific loss of depositor confidence (officers admitted heavy withdrawals).
Newspaper Excerpt: Officers admitted there had been heavy withdrawals in recent months.
Source: newspapers

Newspaper Articles (7)

1. December 4, 1930 St. Louis Post-Dispatch St. Louis, MO

Article from St. Louis Post-Dispatch, December 4, 1930

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Article Text

BANK AT WHITESIDE MO, IS CLOSED BY ITS DIRECTORS No Reason for Action Given; Examiner Takes Charge; $44,642 Deposits. By the Associated JEFFERSON CITY, Mo., Dec. 4. The Whiteside Bank at Whiteside in Lincoln County, was closed today by its board of directors and placed in the hands of the State Finance Department. No reason for the closing given. The bank had $44,642 deposits. G. U. Freund, State bank examiner, has charge. The Citizens' State Bank at Puxico, Stoddard County, with $94.497 resources, closed yesterday by its board of directors. No reason for closing given. According to the bank's last statement, had $55,712 deposits, $25,000 capital stock and $2000 surplus. Public funds on deposit amounted to $9235. J. P. Varble was president and C. B. Cookson cashier. By Associated Press BETHANY, Mo., Dec. 4. The First National Bank of Ridgeway, Mo., failed to open yesterday. Officers admitted there had been heavy withdrawals in recent months. The bank's last statement, Sept. 24. showed total resources of $176,336.90.

2. January 15, 1931 Stanberry Herald - Headlight Stanberry, MO

Article from Stanberry Herald - Headlight, January 15, 1931

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Article Text

the First National Bank of Ridgeway, which failed recently. Mr Gebhard has made no announcement relative to the bank here. Mr. Curfman, retiring receiver, stated before leaving that considerable amount of money has been collected since the closing of the bank almost a year ago, but that he was not in any position to venture a guess as to how soon the incoming receiver might endeavor to pay dividend. He stated. however, that with claims still coming in against the bank it should not be surprising if some time elapsed before dividend is paid. Burlington Junction Post. HERE'S A PROFITABLE COW Dr. D. W. Michael always of an inquiring turn of mind where cows are concerned has 3-year-old Jersey cow on which he has kept careful production record for the past 305 days, or 10 months. In that time she produced 9,368.5 pounds of milk. which yielded 507.68 pounds of butter fat. The average test of milk showed a butter fat percentage of 5.51 The average price for cream during the year 1930 was 31.8 cents. and at that price this cow returned $161.42 in ten months for butter fat alone. The 4½ tons of milk were worth (if we take the estimate of the College of Agriculture) half-cent pound-50 cents per hundred or for the 4½ tons. As near Dr. Michael can tell (and that is within very few dollars) the feed bill for the cow was little less than $100.00 for the ten months-or in round numbers the cow in ten months cost in maintenance $100.00 while she returned a gross of $200.00 showing an average margin of per month. These figures are interesting to any of us, but more SO to those who are interested in the milk cow. especially the good Bee

3. December 23, 1931 The Maryville Daily Forum Maryville, MO

Article from The Maryville Daily Forum, December 23, 1931

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Article Text

DENIES GEBHARD'S PETITION. Minneapolis Judge Rules Against Bank Minneapolis, Minn Dec. Judge Manley L Fosseen, probate judge today denied the petition of W. J. Gebhard. receiver of the First Na. tional bank of Ridgsway, Mo., asking that Herbert E. Skinner Owatonns, Minn. be appointed administrator of the estate of Ellie R Frees. who died in California in 1927 Mrs. Frees formerly lived here and left an estate of approximately $1,000.000 Among the assets were 120 shares of stock in the Ridgeway Mo., bank which closed A 100 per cent assessment against stockholders was ordered and Ellection of this was the purpose of the appointment of an administrator Judge Fosseen held the estate was probated in California and that the petitioner had no remedy here. C. A Wilson of Tarkio. game warden for District No was in town today on John Murrin will go to Atchison Kan., tomorrow afternoon to spend Christmas at the home of Mrs M. F Logeman. Mr. Murrin's son and his family Dr. and Mrs. John O. Murrin and children of St Louis will be guests there also. Miss Rosella Froman instructor in the North Kansas City high school is spending the Christmas holidays with her parents, Mr and Mrs. C. S. Froman of Maryville Mrs. J W Lowry of Kansas City came Sunday to visit with her parents, Mr and Mrs L. H. Geist over the holidays Mr. Lowry will come tomorrow Preliminary at High School Tonight Coach Wallace Croy of the Maryville high school announced this morning that there would be a preliminary to the Maryville Cameron high school basketball game tonight The agriculture club boys of the Maryville high school will play the agriculture club boys of the Cameron high school at 30 o'clock with the main game following immediate Miss Lucy Allen, who teaches at the Signal Hill school in East St. Louis. Ill. will arrive Friday morning to spend the holidays with her parents, Mr. and Mrs. W H Allen Mrs Leona Edwards and daughter Elizabeth, will leave tomorrow morning for Omaha where they will be the guests of Mr. and Mrs M F Dimmick They will return to Maryville Satur. day evening. Edward Hudson. who is employed in Kansas City. will arrive tomorrow night to spend Christmas with his parents, Mr and Mrs H. E. Hudson. and his brother. Ralph Leland Medsker, who teaches school at Maywood, III., a suburb of Chicago, is in Guilford to spend the holidays with his parents. Mr. and Mrs. Tilghman Medsker.

4. June 2, 1932 The Ridgeway Journal Ridgeway, MO

Article from The Ridgeway Journal, June 2, 1932

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NOTICE Fourth dividend checks are now ready for delivery at the First Nat ional Bank. Bank will be open Monday Tuesday of each week. Please call and get your check. W. J. Gebhard, Receiver.

5. June 2, 1932 The Ridgeway Journal Ridgeway, MO

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STONER BUYS BUILDING A deal made the latter part of last week whereby L. C. Stoner hecame the owner of what is known as the Jake Bartlett building between Adams Meat Market and the Supply Store. He expects to improve the building until suitable for his line of business and his drug stock will be moved to its new location the first of the coming week. W. J. Gebhard receiver for the First Nationa Bank made the transfer. The Junior class of the Christian Sunday School served ice cream and cake at the Journal office last Saturday night. The weather was tittle too cool for ice cream but they had a good time just the same.

6. July 28, 1932 The Ridgeway Journal Ridgeway, MO

Article from The Ridgeway Journal, July 28, 1932

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F. J. Richardson and family of Trenton, were Sunday visitors at the Joe Polley home. F. M. Frisby, of Bethany, was in Ridgeway Mona business visitor Dentist Bank receiver and cers Produce Co. Phone No. 65 for prosecuting attorney. Gebhard, of Maryville, reW. J. First National Bank, ceiver for the LAKE BREWER Mr. here on business Monday. was Office in Brewer Building* MISSOURI this bank has paid 80 per cent in dividends to the depositors. Mr. and Mrs. A. G. Garrison had THE OLD RELIABLE as their guests Monday of this week the following relatives from CamerAuctioneer on and San Antonio, Texas. Nelson Munson, an uncle of Mrs. Garrison of Cameron, and Mrs. Bushizer, of Texas, a cousin. Mr. Thompson, of DR. W. F. BUCHER Cameron was also a guest.

7. October 12, 1932 Bethany Republican-Clipper Bethany, MO

Article from Bethany Republican-Clipper, October 12, 1932

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Jury Released Monday Noon, and Recess Came That EveSet for Monday Criminal Cases The regular October term of circuit court opened here Monday morning, but after docket scanned and attorneys questioned about case after case, there little immediate business hand that evening court recessed until tomorrow morning. Three set down for trial Monday, being the expectation of attorneys that they could go at that time. They the ones of Mabel Ramsier Ross and Newton Long, Ermal Mutual Benefit Ass'n, Lorene Phillips Early the examination of docket apparent would no criminal term, and with civil side lacking in action, members of the jury Monday for vacation from until Record during the first and day State Charles nolled. State Virgil Toney and Ralph State Jesse Ross; continued. State Cleo State George Henry; nolled. State Bacil Keuhn: continued. State Sam State Arnold Columbian plaintiff Swan plaintiff dismisses. Mrs. Stupp vs. Northwest National Ins. defendant asks for change Hyde Motor Sales Co. George Walden; defendant demurrer. Harrison Paul docketed. receiver, vs. Stewart: defendant motion to disHarry Black E. Stewart; defendant motion for costs. Dewey Hall Phillips Pet. Co.: defendant given to October answer Same entry case against of Glen Shanabarger Fannie Frye defendanswers and files motion costs. Zylphia Cate defendanswers files motion for costs. Cora Neal Bryant; defendant files demurrer and motion dismiss. In First National bank, Ridgereceiver permitted to compound debt of Redinger. Bank of Gentry Martha McCampcompromised and dismissed. Walter Bartlett First National bank, Ridgeway: compromised and disCivil cases continued were: Garland Wilson Sherman VanDyke William VanDyke vs. Sherman VanDyke. Joe Bird Cora Lawrence. New Hampton Lumber John Green. Charles Miller vs. John J. Todd Leazenby Holloway. Robert M. Cook Jacob K. HutchGarland Wilson vs. Allen Letson Albany Motor Co. Darby.