Rolla State Bank - Rolla, MO

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: February 20, 1933
Location: Rolla, Missouri (37.951, -91.771)

Metadata

Model: gpt-5-mini
Short Digest: 97d3ec9d

Response Measures

None

Description

Mayor issued a 30-day moratorium (suspension) for Rolla State Bank on Feb 20, 1933. Articles do not report a run on this specific bank; other local banks experienced runs attributed to Rolla's closing. The bank announced intention to reopen if conditions permit and stated assets sufficient to pay depositors.

Events (1)

1. February 20, 1933 Suspension

Cause: Government Action
Cause Details: Mayor Leo W. Higley issued a proclamation declaring a 30-day moratorium for the bank; suspension announced Feb 20, 1933.
Newspaper Excerpt: A proclamation issued by Mayor Leo W. Higley of Rolla on February 20 declared a 30 day moratorium for the Rolla State Bank the only bank left in Phelps County.
Source: newspapers

Newspaper Articles (3)

1. February 24, 1933 The Licking News Licking, MO

Article from The Licking News, February 24, 1933

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Article Text

30 Day Moratorium For Rolla State Bank A proclamation issued by Mayor Leo W. Higley of Rolla on February 20 declared a 30 day moratorium for the Rolla State Bank the only bank left in Phelps County. Astatement issued by officials of the bank says that if at the end of the 30-day period, itseems wist to continue business such a course will be taken. They futher state that in case the bank should fail to re-open for business at the end of this moratorium, the assets of the institution will be sufficient to pay all depositors in full.

2. February 24, 1933 The Licking News Licking, MO

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Article Text

Peoples Savings Bank Closes Under 6-Day Moratorium The Peoples Savings Bank failed to open its doors this morning (Thursday), due to a run which was started the first of this week. The bank closed under a six day moratorium and if:conditions seem favorable for re-opening at that time the bank will be re-opened and continue to do business. In case the bank fails to open for business again, Cashier 0. A. Johnson states that he beleives the bank's assets will be mo e than sufficient to pay all depositors in full. The run on this bank was attributed to the closing of the Rolla State Bank which closed its doors Monday

3. March 2, 1933 Houston Republican Houston, MO

Article from Houston Republican, March 2, 1933

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Article Text

LICKING BANK CLOSED DOORS LAST THURSDAY The Peoples Savings Bank failed LO open its doors Thursday morning que to a run which was started the first of the week. The bank closed under a SIX day moratorium and if conditions seem favorable for reopening at that time the bank will be re-opened and continue to de business. in case the bank falls to open for business again, Cashier O. A. John son states that he believes the bank's assets will be more than sufficient to pay all depositors in full. The run on this bank was attribut ed to the closing of the Rolla State Bank, which closed it's doors Monday.-Licking News.