10630. Skidmore Bank (Skidmore, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 8, 1903
Location
Skidmore, Missouri (40.289, -95.081)

Metadata

Model
gpt-5-mini
Short Digest
16750fc0

Response Measures

None

Description

The articles report the Skidmore Bank closed/assigned and a state bank examiner will appoint a receiver. No run is described. Cause cited is issuance of an unlimited letter of credit on unsecured collateral to Fullerton & Fullerton (lead dealers). Dates: one article says closed June 8, 1903 (Monday); another dated June 9/10 references assignment.

Events (1)

1. June 8, 1903 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Failure/assignment caused by issuance of an unlimited letter of credit to Fullerton & Fullerton on unsecured collateral (lead dealers); surplus wiped out and notes protested prompting assignment.
Newspaper Excerpt
The Skidmore Bank, of Skidmore, Mo., closed its doors Monday of this week, June 8, 1903, and the state bank examiner will appoint a receiver.
Source
newspapers

Newspaper Articles (2)

Article from The St. Louis Republic, June 10, 1903

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Article Text

Missouri Bank Assigns. REPUBLIC SPECIAL. Maryville, Mo., June 9.-The Skidmore Bank of Skidmore, Mo., in the western part of this county, closed its doors today and assigned. Its capital stock was $10.000, John Barrett is president, D. R. Baker cashier and W. M. Howden assistant cashier. The cause of the assignment is said to have been the issuance of an unlimited letter of credit to Fullerton & Fullerton, lead dealers of Oklahoma, who were formerly residents of Skidmore. Local bankers think depositors will be paid in full.


Article from The Holt County Sentinel, June 12, 1903

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Article Text

-For a strictly first class coffee go to Geo. F. Seeman's. Frank Pendergast, of Savannah, has been visiting home folks. -Chicken feed and Mill stuff at Mill prices at Moore & Kreek's. -Mrs. Matthew Gelvin, who has been seriously ill, is reported very much improved. -Pearl Thornton left for St. Joseph this week, where she will make her home in the future. -Floated in New tin's in Box Paper and Tablets. Large line of New Hammocks just received. Prices can't be beat. HINDE DRUG Co. -The rainfall during the month of May was 11% inches. That of 1892 was 12 inches, and that of 1896, 151/4 inches. In May, 1902, 4% inches of rain fell. Maitland Herald. -Grandma Guthrie, living in the Lincoln district, received a stroke of paralysis Sunday of this week, rendering her speechless. Her recovery is doubtful, owing to her advanced age. -A fine line line of Watches, Clocks Spectacles, Set Rings, Plain Rings, Ladies' and Gent's Chains, Cuff Buttons, Collar Buttons, Brooches, Emblem Pins, Perfumes &c. C. E Bunker, Op. tican and Jewler, Oreg on, Mo. -A week's sunshine and day weather will make old Missouri to blossom. A week's sunshine and the farms that are now a watery, weedy mass will be tilled and the core will "hump" itself to make up for lost time. A week's sunshine and we will forget the cold wet weather. Give us sunshine. --Have you tried Geo. F. Seeman's new flour? It is fine. If you haven't tried it, and want fine bread, you should do so. All of this flour is made of old wheat. -The well-koown home and fashion magazine, THE DESIGNER, published by the Standard Fashion Company, of New York City, has been reduced in price from $1.00 to 80 cents a year. The great aim of THE DESIGNER is to help women along all practical and beautiful lines,by gathering for them and giving to them the fullest information on all fashion and domestic matters. --The act of the late Legislature repealing the law requiring summer institutes provides for compulsory attendance of all teachers on a three days' teachers' meeting to be held in September, October or November each year. This law also provides that certificates of attendance for the entire three days filed with the district clerk shall entitle the teacher to a full week's pay when teaching the other two days of the week. -There will be A nice opportunity to buy something if you will attend the public sale of J. C. Philbric, at his res.dence, on Saturday, June 13, 1903, at 2 o'clock p. m. You will then have an opportunity to buy a cook stove. four heating stoves, a base burner, kitchen utensils. dishes, washing machine, child's bed and mattrass, one set of new bed springs and mattrass, small book case, parlor and porch rockers, kitchen I clock, silverware, and various other articles too numerous to mention. Terms will be cash. -The Skidmore Bank, of Skidmore, Mo., closed its doors Monday of this week, June 8, 1903, and the state bank examiner will appoint a receiver. The failure was caused by the issuance of an unlimited letter of credit to Oklahoma land dealers, formerly of Skidmore, on unsecured collateral. The capital of the bank was $10,000, with John Barrett as 1 president. Doctor Baker as cashier and I W. M. Howden, assistant cashier. The as surplus is wiped out. Notes protested 1 by a St. Joseph bank hurried the assign. ment. -The agent of the Standard Oil Co, at Mound City was arrested five times 1 Wednesday, on five different warrants,in e as many minutes. The oil inspector notiCB fied the agent several days ago that his 8 dend but be maid