10578. Bank of Rush Hill (Rush Hill, MO)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
August 12, 1930
Location
Rush Hill, Missouri (39.210, -91.722)

Metadata

Model
gpt-5-mini
Short Digest
247a3e47

Response Measures

Full suspension, Books examined

Other: Bank placed into hands of State Finance Commissioner for liquidation; liquidator S. L. Cantley/Greenlee named to wind up multiple banks' affairs.

Description

Articles state a steady run forced directors to close the bank (Aug 12, 1930), directors handed the institution to the state finance commissioner and indicated liquidation was best for depositors. A state official (Greenlee) was later put in charge of liquidating; the bank did not reopen. Bank type not specified in articles.

Events (3)

1. August 12, 1930 Run
Cause Details
Steady withdrawals/run on the bank; article does not specify origin (rumor, correspondent, or local shock).
Measures
Directors closed the bank and turned the institution over to the state finance examiner.
Newspaper Excerpt
Officials of the bank blamed a steady run for the closing.
Source
newspapers
2. August 12, 1930 Suspension
Cause Details
Directors ordered closure following steady withdrawals and placed the bank into the custody of the state finance commissioner; they stated liquidation would be for depositors' best interest.
Newspaper Excerpt
The Bank of Rush Hill was closed Tuesday morning at 11:30 by order of the board of directors... The institution was given into the hands of the state finance commissioner.
Source
newspapers
3. August 22, 1930 Receivership
Newspaper Excerpt
Greenlee... has been pointed the liquidating of the Bank just been pointed the banks Rush Hill and has charge ... winding the affairs of all five up banks. This under the plan State Finance Commissioner Cantley ... distribute the costs liquidation ... the banks depositreceive the most may ble in the returns.
Source
newspapers

Newspaper Articles (3)

Article from The Daily News and Intelligencer, August 12, 1930

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Article Text

TUESDAY Directors Turn Institution Over to State Finance Examiner After Steady Run. The Bank of Rush Hill was closed Tuesday morning at 11:30 by order of the board of directors, who said what steady withdrawals caused it to close, according Erdel. The directors stated that they believed liquidation would be to the best interests of the depositors. Charles Maxwell president, and Pete Erdel, vice president. Will Cauthorn was cashier. Capital stock was $20,000. with a surplus of $5000 and undivided profits of $4,000. The institution was given into the hands of the state finance commissioner. S. L. Cantley.


Article from Joplin Globe, August 13, 1930

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Article Text

NEW SCOUT GROUP INTO CAMP THURSDAY Court of Honor Tonight Will Mark End of Encampment for Present Contingent. With a "ghost" hike last night, and a court of honor tonight at which awards will be made to all Boy Scouts for tests passed during their encampment, a second group of nearly ninety boys will conclude their camping period and a group of veteran campers will move into Nih-ka-ga-hah tomorrow for a special ten-day camp. The veteran campers, all of whom have at least one period of camping behind them. number about forty-five and will move into camp tomorrow morning at 10 o'clock. Their activities will emphasize bird study. camping, cooking. archery, marksmanship, taxidermy, horsemanship. canoeing, diving, life-saving, swimming, first aid and masonry. Instructors Added. Several special instructors have been added to the staff personnel for the veterans' camp. Indian Joe Davis of Pawhuska. Okla., will give special training in Indian craft. lore, legends and dancing. A member of the Baxter Springs mounted patrol will direct horsemanship. and Sergeant Daniel W. Collier will set up rifle range. Among other leaders will be R. T Hartley. formerly of the University of Iowa. teacher in botany. nature study. forestry and conservation: the Rev. J. H. H. Wilcock of Carthage, camp morale; Lee Daughertv of Webb City, water front director: Charles T. Orr, ir.. director of the "big idea" period: Ivan Havden. teacher of pioneering and crafts. and Frank Lewellyn of Webb City. council fire chief. Clarence H. Peden. camp director, in announcing the veterans' camp plans yesterday. also announced two courses in training for troop camping. which will be conducted for voluntary scout leaders of the Mo-Kan Area Council at Camp Nih-ka-ga-hah. one August 23 and 24 and another August 30 and 31. Bank Is Closed by Run. Mexico. Mo., Aug. 12.-(P)-The bank of Rush Hill, this county, was closed yesterday by order of its board of directors. Pete Erdel, vice president. said liquidation would be for the best interest of depositors. Officials of the bank blamed a steady run for the closing. The Rush Hill bank was the fourth in Audrain county to close since March 13, The Southern Trust Company of Mexico, the North Missouri Trust Company of Mexico and the Commercial bank of Laddonia were the banks to close previously. Former Carthage Woman Dies. Carthage, Mo., Aug. 12.-Mrs. F. J. Davisson. formerly of Carthage, died Saturday at Cameron, Okla., according to word received here She and her husband left here in 1902, going to Tulsa. They moved to Cameron from there a few years ago. She was 80 years old. She is survived by her husband. four sons and three daughters. Mrs. Frank J. Davisson. who has been spending the summer at the home of her parents, Mr. and Mrs. J. Y. McGregor, 520 Pine street, is at Claremore to attend services for her mother. Mrs. Frank J. Davisson resides in southern Texas. Burial was at Claremore.


Article from Centralia Fireside Guard, August 22, 1930

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Article Text

GREENLEE IN CHARGE Greenlee, who the liquidating of the Bank just been pointed the banks Rush Hill and has charge of the Mexico and Wellsville Greenlee draw only one salary winding the affairs of all five up banks. This under the plan State Finance Commissioner Cantley distribute the costs liquidation to keep them minimum the banks depositreceive the most may ble in the returns.