10633. Security Bank (Slater, MO)

Bank Information

Episode Type
Run → Suspension → Unsure
Bank Type
state
Start Date
October 24, 1931
Location
Slater, Missouri (39.218, -93.069)

Metadata

Model
gpt-5-mini
Short Digest
82462d51

Response Measures

Full suspension, Books examined

Other: Boards voluntarily closed; deputy finance commissioner placed in charge.

Description

Articles (Oct 27–30, 1931) report Security Bank of Slater 'failed to open for business Monday' after 'heavy withdrawals' and a 'slow run' following the closing of the bank at Gilliam. A deputy finance commissioner is reported in charge. No explicit statement that the bank permanently closed, entered receivership, or later reopened, so outcome is uncertain.

Events (2)
1. October 24, 1931 Run
Cause
Local Banks
Cause Details
A slow run/continuous withdrawals occurred following the closing of the bank at Gilliam; during the week $130,000 was withdrawn from the two Slater banks.
Measures
Directors discussed plans all day; posted notice on door that bank was closed because of heavy withdrawals; deputy finance commissioner placed in charge.
Newspaper Excerpt
the bank was closed because of heavy withdrawals ... slow run on each bank following the closing of the bank at Gilliam
Source
newspapers
2. October 26, 1931 Suspension
Cause
Local Banks
Cause Details
Directors voluntarily closed (failed to open Monday) because of continued withdrawals after the Gilliam bank closed; action described as voluntary by boards of directors and prompted by slow run and cumulative withdrawals of about $130,000 during the week.
Newspaper Excerpt
The Bank of Slater and the Security Bank of Slater ... failed to open for business Monday morning. On the front door of each bank was posted notice stating that the bank was closed because of heavy withdrawals.
Source
newspapers

Newspaper Articles (4)
1. October 27, 1931 The Slater News Slater, MO
Article from The Slater News, October 27, 1931

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Article Text

Two Banks Here Fail To Open Monday Board of Directors of Each Institutution Close Voluntarily Because of The Bank of Slater and the Security Bank of Slater, the two nancial institutions of Slater, failed to open for business Monday morning. This action followed an all day discussion of plans and was voluntarsly on the part of the board of rectors of each bank. On the front door of each bank was posted notice stating that the bank was closed because of heavy withdrawals. The action was deemed necessary because of the slow run on each bank following the closing of the bank at Gilliam. During the week $130,000 was withdrawn from the two banks. The banks here met all demands for cash until Saturday night. There was no concentrated run either bank but the constant drawal of funds made the closing necessary There was no excitement at any time. It is believed that the tendency toward withdrawal had subsided Saturday night but that was indefinite, hence the action of the directors. T. W. Richards, deputy finance commissioner, is here in charge of the two institutions, and has employed two or three persons from each of the banks. The statement of the Security Bank at the close of business September 18, showed the bank had sources of $369,460, and deposits of $220,888. The surplus and undivided profits were listed at $68,572. The statement of the Bank of for the same date gave assets $457,677 with deposits at 285. The surplus and undivided prof. amountey to $72,909.

2. October 29, 1931 The Vandalia Leader Vandalia, MO
Article from The Vandalia Leader, October 29, 1931

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Article Text

TWO BANKS HERE FAIL TO OPEN MONDAY The bank of Slater and the Security bank of Slater, the two financial institutions of Slater, failed to open for business Monday morning. This action followed an all day discussion of plans and was voluntarily on the part of the board of directors of each bank. On the front door of each bank was posted a notice stating that the bank was closed because of heavy withdrawals. The action was deemed necessary be cause of the slow run on each bank following the closing of the bank at Gilliam. During the week $130,000 was withdrawn from the two banks. The banks here met all demands for cash until Saturday night. There was no concentrated run on either bank but the constant withdrawal of funds made the closing necessary. There was no excitement at any time. It is believed that the tendency toward withdrawal had subsided Saturday night but that indefinite, hence the action of the dir ectors. T'. W. Richards, deputy finance com missioner. is here in charge of the two institutions, and has employed two or three persons from each of the banks. The statement of the Security Bank at the close of business September 18, showed the bank had resources of $369. 460. and deposits of $220.888. The surplus and undivided profits were listed at $68,572. The statement of the Bank of Slater for the same date gave assets at $457, 677 with deposits at $323,285. The surplus and undivided profits amounted to $72,909 News.

3. October 30, 1931 The Corder Journal Corder, MO
Article from The Corder Journal, October 30, 1931

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Article Text

SLATER BANKS FAILED TO OPEN MONDAY (Slater News) The Bank of Slater and the Security Bank of Slater, the two financial institutions of Slater, failed to open for business Monday morning. This action followed-an all day discussion of plans and was voluntarily on the part of the board of directors of each bank. On the front door of each bank was posted a notice stating that the bank was closed because of heavy withdrawals. The action was deemed necessary because of the slow run on each bank following the closing of the bank at Gilliam. During the week $130,000 was withdrawn from the two banks. The banks here met all demands for cash until Saturday night. There was no concentrated run on either bank but the constant withdrawal of funds made the closing necessary. There was no excitement at any time. It is believed that the tendency toward withdrawal had subsided Saturday night but that was indefinite, hence the action of the directors. T. W. Richards, deputy finance commissioner, is here in charge of the two institutions, and has employed two or three persons from each of the banks. The statement of the Security Bank at the close of business September 18, showed the bank had resources of $369,460, and deposits of $220,888. The surplus and undivided profits were listed at $68,572. The statement of the Bank of Slater for the same date gave assets at $457,677 with deposits at $323,285. The surplus and undivided profits amounted to $72,909. COURT HOUSE NEWS Deer hunting licenses were issued to the following by the County Clerk: Fred Lampe, Concordia, Norvin Gieseke, Concordia, Wm. L. Bertram, Concordia, Hubert Franke, Concordia, E. R. Bartlett, Kansas City, James Moley, Kansas City. Each hunter is allowed to kill one buck, which must have at least four points on each antler. A list of names of guides in south Missouri for the three day deer hunt were furnished to the hunters by the State Game and Fish Department. Guides can be hired for $2.00 per day. The County Court will meet in regular session on November 2, 3, and 4th.

4. October 30, 1931 Sweet Springs Herald Sweet Springs, MO
Article from Sweet Springs Herald, October 30, 1931

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Article Text

Board of Director of Each Institution Close Voluntarily Because of Heavy The Bank Slater and the curity Bank the nancial institutions Slater, failed open for Monday morning. This day discussion of plans and voluntary the part of the board directors each bank, because heavy withdrawals. The action was deemed necessary because of the slow run bank following the closing the bank of Giliam. During the week withdrawn from the banks. The banks met demands cash until Saturday night. There was no either bank the constant withdrawals of funds made the closing There excitement any time. lieved that the tendency toward had subsided Saturday night but that indefinite, hence action of the directors. Richards, deputy finance charge of the two and has ployed three persons from each of the banks. statement the Security Bank the September the bank had and deposits $220,088. The surplus and profits were listed $68,572 statement of the Bank Slater for same date gave assets with deposits $323,285. The surplus divided profits amounted $72,909. News.