10619. Sedalia Trust Company (Sedalia, MO)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
trust company
Start Date
January 29, 1932
Location
Sedalia, Missouri (38.704, -93.228)

Metadata

Model
gpt-5-mini
Short Digest
585aaf85

Response Measures

Capital injected, Full suspension, Books examined

Other: Directors placed a $10 drawing limit on prior accounts; later directors ordered closure while reorganization/capital-raising efforts were underway.

Description

After the suicide of the bank's secretary-treasurer (Charles C. Evans) officers imposed a $10 drawing limit to check a possible run (late Jan 1932). By mid-February directors ordered the bank closed after an examination and efforts to raise new capital were underway; no reopening is reported in the articles. Cause of the run is recorded as panic/nervousness following the suicide (classified here as rumor_or_misinformation). The suspension/closing was ordered by directors following an exam (classified as 'other' for suspension cause).

Events (3)

1. January 29, 1932 Run
Cause
Rumor Or Misinformation
Cause Details
Panic/withdrawals and hoarding following the suicide of the bank's secretary-treasurer Charles C. Evans; directors acted to check a possible run.
Measures
Placed a $10 drawing limit on accounts received prior to the previous close; directors issued statement claiming bank in sound condition and elected a temporary replacement for the secretary-treasurer.
Newspaper Excerpt
The bank today placed a drawing limit of $10 on all accounts received prior to the close of business yesterday...officers ... took action to check any possible run on the bank after the suicide of Charles C. Evans
Source
newspapers
2. February 11, 1932 Suspension
Cause Details
Directors ordered the bank closed after an examination of its affairs by a state examiner; efforts to raise new capital and reorganize were reported.
Newspaper Excerpt
Sedalia Trust Company, member of the federal ... was closed today order of directors.
Source
newspapers
3. February 18, 1932 Other
Newspaper Excerpt
The Sedalia Trust Company closed Monday after an examination of its affairs by L. Mulligan of the state ... An effort is being made to supply $150,000 new capital and reorganize. ... The Sedalia Chamber of Commerce is aiding in the effort to find the additional $50,000.
Source
newspapers

Newspaper Articles (7)

Article from The Chillicothe Constitution-Tribune, January 29, 1932

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Article Text

Sedalia Banker Takes Own Life Loss of Wife Caused Grief; His Bank Reported In Sound Condition SEDALIA, Mo., Jan. 29-(UP)Officers of the Sedalia Trust Company today took action to check any possible run on the bank after the suicide of Charles C. Evans, secretary-treasurer. Evans, a veteran banker of Sedalia, committed suicide at his home late yesterday, shortly after he had left the bank. The bank today placed a drawing limit of $10 on all accounts received prior to the close of business yesterday. Accounts received today and hereafter may be fully drawn upon. Directors, meeting last night. issued 1 statement in which they said that the bank was in a sound condition and would open as usual. They also elected John C. McGrath, a director, to fill Evans' place temporarily. The secretary-treasurer shot himself through the head, dying about 8 p. m., several hours after the shooting. He left a note on the mantel picce at his home in which he expressed a fear of approaching insanity. "I think I am losing my mind," the note said. Evans was 71. Friends said he had been in ill health for some years and that he was deeply grieved over the death of his wife a few years ago.


Article from Kirksville Daily Express and Kirksville Daily News, January 29, 1932

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Article Text

Suicide Second in BankCircles There Months Sedalia, Mo. Officof the Sedalia Trust Company check any possible run the bank after the suicide Charles Evans, veteran banker of Sedalia, committed suicide his home shortly after he had the bank The bank today placed drawing limit of $10 all accounts received prior to the close of business yesterday Accounts received today and hereafter may fully drawn upon. Directors meeting last night, issued statement which they said that bank in sound condition and would open as usual They also elected John McGrath. director, to Evans place temporarily The shot himself through the head dying about several hours after the shooting He note the mantel piece his home in which he expressed fear of approaching insanity think am losing my the Evans was Friends said he had in health for some years that he deeply grieved over the death of his few years ago Evans well known in banking throughout the state He born in Otterville, Cooper county, Completing his education in Missouri he ployed the Railroad its offices. and later transferred the general offices Louis bookkeeper Subsequently he joined the Missouri Pacific and finally returned to the 1893 he became assistant treasurof the Missouri Trust Company, and remained in the employ of that pany for eight years. When the Missouri Trust moved to St. Louis in Evans joined with his the late and several other men to form the Sedalia Trust Company. Crandall became the first president the and Evans was first post he held until his death. Crandall died within month after he had been elected On November 1921. Col. Powell. president of the Citizens National Bank which since has closed. shot himself through the head.


Article from The Springfield Press, January 29, 1932

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Article Text

BANKER KILLS SELF IN HOME AT SEDALIA Believe Death of Wife Caused Prominent Man's Act. UNITED PRESS Mo., Jan of the Sedalia Trust company Friday took action check posrun the bank after the cide Charles Evans, secretarytreasurer. veteran banker of dalla, committed suicide his home shortly after he bank. Bank Sound. which elected director, Evans' place temporarily The shot himthrough the head, dying hours shooting He left the mantel piece his home which expressed approaching insanity. think am losing my mind," the note said. Evans was 71. Friends said he had health for some that deeply the death of his wife few years Well Known Banker. Evans known in banking circles throughout the state Otterville, Cooper born county, October Completing his education in Missouri schools, employed the railroad its offices, and later transferred to the offices at St. Louis general bookkeeper. Subsequently he joined the Missouri Pacific and finally returned to In 1893 he became assistant treasthe Missouri Trust the employ that for eight years. When the company Missouri Trust St. Louis Evans joined with his fatherthe A. Crandall. and several other men to form the Sedalia Trust Crandall became the first presifirst until his died within month after he had elected president, was succeeded by the late Heard, who (Continued Column


Article from Columbia Missourian, January 29, 1932

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Article Text

BANK IS CAUTIOUS FOLLOWING SUICIDE Ready to Check Possible Run After Sedalian Shoots Self SEDALIA, Jan. Officers of the Sedalia Trust Company took action to check possible the after suicide Charles C. Evans, secreEvans, veteran banker of at his yesterday, shortly after he had bank today placed drawing limit accounts prior the busitoday and hereafter may fully Directors. meeting last night, which they that the bank was in would They also elected John director, to fill Evans' place temshot himthrough head, about o'clock He the mantel piece at his home which expressed of proaching insanity think am losing my mind," the note said. Evans was years Friends he been health for years and that he was deeply grieved the death of his wife few years ago. Evans survived by two Edwin Evans Cedar Rapids, Mich., Seymour Evans, student at the University of Missouri. Clark Seymour Evans. sophothe Science the University, left for Sedalia


Article from The Brookfield Argus and the Linn County Farmer, January 29, 1932

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Article Text

FOLLOWING SUICIDE ACCORDING TO INVESTIGATION DIRECTORS TODAY. The Veteran Cashier Had An cination That He Was Losing Mind. Was Highly Esteemed izen of Sedalia For Years. By United Press.) Sedalia, Mo., the Sedalia Trust Company today action check possible run the bank, after the suicide Charles Evans, years urer. Evans, veteran banker of Sedalia, committed suicide his home yesterday, shortly left the bank. The bank today placed drawing limit on accounts received to the business yesterday directors issued statement, which they said that bank sound condition, and would usual The shot himself through the head which he fear approachthink said. BAKER GROWS WEAKER. Jefferson City Governor Sam Baker, been almost paralyzed suffered stroke been growing weaker during the past said home here Baker served Missouri from 1924 1928 Prior that served erintendent public schools souri


Article from The Milan Republican, February 11, 1932

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Article Text

Bank at Sedalia Sedalia, Mo., Feb. Sedalia Trust Company, member of the federal was closed today order of directors. C. Evans, of the company, fatally shot himself January The Dec. 31 statement of the of demand was capitalized $1000,000, had $25,000 surplus and $49,980 bills payable.


Article from The Concordian, February 18, 1932

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Article Text

NEIGHBORHOOD THE editor of the Knob C. Flemming, Noster Gem, is slightly improved after a serious illness. He has been sick with pleurisy and several weeks, Warrensburg StandardEditor Flemming soon The Lafayette County Bankers Association held its regular meeting in Ford Hall here Tuesday evening at 6:30, and besides the members, several were here from Jackson county, Frick and Trigg including Democrat. Oak Georgia Wesley, 35 years old, was shot and killed and Jessie Parker, 26, fatally wounded at was probably house on South rooming about 11 o'clock Wednesday street, night. Both are News. Norman LaCure, 9-year-old son of who was acciMrs. Norma LaCure, dently shot in the right eye Tuesday with an air rifle while playing in the of his home on Highland avenue yard today (February 12) to was reported be getting along News. banc, has The supreme court, en of Sunshine Lake ruled that waters and fish were subject to state game knocks out the laws. This ruling Louella Reed, owner of contention of Sunshine Lake, that the lake being privately owned, fishing could be done all of the year regardless at seasons of the Intelligencer. Bert Hall, the fiying soldier of forhailed originally from near tune, who is reported to be packing Higginsville, to China and his grips for a return He has been in Los the war zone. While he has no Angeles recently. at this time with official connection the Chinese military organization, he says: "Soon will return, and then, who He was formerly can Chinese and was general in the army of Lafayette Escadrille member the Intelliin the World gencer. Lewis and Clarence Bradshaw, Ed sentenced to thirty Negroes, were jail at Sedalia days in the county C. Killion, justice of Tuesday by for Houstonia township, the peace coal from the Missouri for stealing Pacific Lines. The Negroes were armorning by Town rested Tuesday Marshall E. R. Davis as they were putting coal in sack. The coal had been thrown off the freight which here at six o'clock passes through each morning, by the stonia Leader. SmithWilliam Jackson, escaped possible our city, ton youth, narrowly when of death late Wednesday afternoon years car fired was accepted occupant of another an his pany on shot at him as he was driving street of the given the automobile up the main from his first job. town. The bullet, coming of to various in the hands a person weapon crashed Alton as driving big touring car, Jackson's of the same the windshield of through the rear der as a and tore its way through car ing W. H. It within few inches seat. passed of the youth's Springs "The Herald. circuit court "says that Suit was filed in the Lillian M. Owens of the stores by Mrs. Monday Johnston chewing Lexington against George which she three kinds Robert Covington, in and personal in- Pleasant asked $20,000 for alleged of Cov- hick town received when the car juries driven by attend ington which was being the in ing bombed. collided with one Johnston, The ac- one where which she had been riding. No. 50 to the cident occurred on highway Jan- interference mile east of Lone Jack, one-half owner of 29, when Roy Lane, uary which Mrs. Owens was ridthe car in the lights on his car. ing. was fixing -Warrensburg sent truck finance Mrs. William Kalthoff Rock to Con- cide of load of Barred capons 165 The bank cordia Thursday. There were Those weighing $454,590 in the load. capons 21 made to eight pounds and over brought Mrs. Kalthoff makes in order to cents per pound. a specialty of fine poultry and each the Mis- er, offers sends ten pullets to year Pullet Contest at Moun- cey, souri State tain Grove, conducted by the State Poultry Experiment Station there. One of her pullets laid 176 eggs durits resultant ing the test ending January 30. One stressed at hen last year made a record of 218 December 2, 1930, to Oceggs from 1931. She now has over 500 tober Herald. eggs agent banks by L. A. Wollenman, popular Alton Company in for the Railway this week completed 25 with the Alton. He service into service by the comFebruary 9, 1907, and was at Independence as agency From there he was sent stations the Chicago & on relief agent and in August was assigned Coryear, station, succeedpermanent Journal. Garden City Views," writes in the Belton Star-Herald, hick town is one where a dozen brands of carry tobacco, and only two or of while the cigarettes, Hill Times believes that is one where the people can theatre without fear of beBut real hick town die and 'ride' person can cemetery without having any by union funeral drivers." (Missouri) Ledger. The Sedalia Trust Company closed Monday after an examination of its affairs by L. Mulligan of the state the suidepartment following Charles C. Evans, January 28. has $638,639 resources and deposits. An effort is being supply 1150,000 new capital reorganize. John McGrath, elected to succeed Evans as treasur$75,000, and Dr. Yanwill subscribe $25,000. president The Sedalia Chamber of Commerce is aiding in the effort to find the additional $50,000. Money hoarding, with paralysis to business was meeting of the Chamber of Commerce following the closing of the second Sedalia bank within two months. Instead of the bankers, the people who have been draining the withdrawals were denouncSprings Herald.