Bank of Commerce - Springfield, MO

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: *
Location: Springfield, Missouri (37.215, -93.298)

Metadata

Model: gpt-5-mini
Short Digest: f9dacb01

Response Measures

None

Description

The article (1929-06-24) recounts historical bank failures in Springfield and explicitly states that the American National finally became insolvent and was closed. There is no specific date given for that suspension/closure in the excerpt, nor any explicit mention of reopening. The cashier's prosecution is mentioned, supporting a bank-specific adverse-information cause. No explicit receivership assignment is stated in the text provided.

Events (1)

1. * Suspension

Cause: Bank Specific Adverse Info
Cause Details: Bank became insolvent; cashier prosecuted in federal court for actions related to the failure (suggests internal malfeasance/poor management).
Newspaper Excerpt: The original First National bank taken over the American National, which finally became insolvent and was closed.
Source: newspapers

Newspaper Articles (1)

1. June 24, 1929 Springfield Leader and Press Springfield, MO

Article from Springfield Leader and Press, June 24, 1929

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Article Text

Wastebasket Into which are often tossed things well worth while. The Simmons building at College and the square being remodeled again for new occupants. Like on the south half of the square, all buildings has been often gutted and changed but still the same old building. has been nearly 50 years since there has been building erected in that section, although the entire north half the the Baker has been except built since the great fire. The fire cleaned out of the square and, when the almost quarter courthouse was moved, the northwest corner rebuilt with the exception of the Baker building. Springfield's office building. However. there is no necessity for rebuilding the south part of the square present. The new Medical Arts building will give enough office space for long time unless Springfield grows more rapidly than has been doing of late. What needed something which will furnish employment. For years the Simmons building on College and the square was occupied by bank. years when the city had four banks, the First Naago tional, Holland bank. the Bank of Greene County and the Bank of Springfield on Commercial street. Then the Exchange bank was organized and the Simmons building was remodeled. vault built and the bank opened. Mr. Noland came here from Jackson county and its first president. He acted in that capacity until his son, Charles Noland. became involved in terrible tragedy. when the father sold out and left the city. The Exchange bank became sort of political and intellectual center of town. was headquarters for "leading citizens." In the back many political scheme was hatched. H. Murray. Watson. Peacher, John O'Day, Manual Maurer and many others, who have joined the majority, never missed day without visiting the back office of the bank. finally made national bank and moved to the Landers building corner and finally went out of business. The four original banks are all gone and are well forgotten that their names are being used again in later years. The original Bank of Greene county was dead and forgotten before the next Bank of Greene County. dead but not forgotten. organized. There have been two First National banks. The old First National merged with the American National. There have also been American banks, but they were no way connected. The original American was located the Daigler building the southwest corner the square. the oldest building the square The original First National bank taken over the American National. which finally became insolvent and was closed. The cashier, his frantic effort to save the concern, became involved with government and was tried in federal court, being the only banker ever tried in federal court here until the present cases came None of the original banks are now in existence. The First National was taken over the American and died in the suspension. The Exchange suspended, did the Holland bank. The Bank of Springfield did not fail. but went out of business In all the bank suspensions in Springfield in only cases did the depositors lose anything. There losses in the Bank of Commerce on Commercial street. Springfield also had two banks Commerce. the Commercial street Bank Commerce being succeeded in name only by the John Landers bank of the same name many years The Landers bank taken over by the Holland bank and went out of existence completely when the smash came. In the various bank failures of the city there have been several prosecutions, but in only one case, the cashier of the defunct American National bank, was there actual punishment. The most determined prosecution was against Burlingame. He was cashier of the Bank of Commerce on Commercial street. Just before the bank was closed he put his property out his name and the bank was unable to pay depositors full. Burlingame was tried several times, being ted twice and convicted once The conviction was reversed by the supreme court and the case dropped. The Burlingame case became an issue local politics and Duncan. prosecuting torney. was defeated for reelection because he could not convict Burlingame. The meeting of Highway 60 association Mountain Grove tomorrow promises to be of terest. there will be several resolutions before the body to endorse an extension of No. from Springfield on to the Pacific coast. The Frisco towns want highway No. 16 made national highway connected with Oklahoma highway this proposition has been endorsed by the Oklahoma legislature. Allen. Washington county, was chief opponent of the measure. Allen declared that northern Oklahoma did not obtain the route, which would run to Trinidad, Col., Kansas would obtain The Federal Highway No. association has been formed with view to selecting route which would connect Missouri No. and Oklahoma federal No. That association has approved route from Seneca. Mo., through Vinita, Nowata, Bartlesville, Pawhuska. Ponca City, Tonkawa and Pond there to be connected with Mayor Kerr of Independence, Kan., making stir to have No. extended from Springfield Greenfield and to Independence He has much support and believed either his plan the Frisco towns' plan will be endorsed by the association. The Joplin scheme to west from the James and miss Springfield not being well supported at present, but Joplin has good politicians and may pull some tricks. The action the assoclation will be nothing more than expression sentiment. The location will be made by the national highway commission and may pay no attention whatever to the action of matter what may Highway No. eventually run from the Atlantic to the Pacific.