Bank of Springfield - Springfield, MO

Bank Information

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

Metadata

Model: gpt-5-mini
Short Digest: 351420a1

Response Measures

None

Description

Article is a historical reminiscence of a local panic (described as the 'Cleveland panic') in which multiple local banks failed. The Bank of Springfield (F. G. Bentley) got off the firing line early, locked up quit without even a skirmish, indicating it closed its doors preemptively during the panic (a suspension) rather than suffering a depositor run or permanent failure. The piece does not provide a date for the Bank of Springfield's closure or explicit statement of later reopening, but context implies it was a temporary precaution and the bank survived the episode. No firm date is given in the article text; I therefore set the event date to null. If additional articles provide exact dates or outcomes, the classification should be revisited.

Events (1)

1. * Suspension

Cause: Macro News
Cause Details: Part of a wider local panic triggered by the national Cleveland panic and collapsing local banks; bank closed its doors preemptively during the citywide bank crisis
Newspaper Excerpt: F. G. Bentley (Bank of Springfield) got off the firing line early, locked up quit without even a skirmish
Source: newspapers

Newspaper Articles (1)

1. March 26, 1926 The Springfield News-Leader Springfield, MO

Article from The Springfield News-Leader, March 26, 1926

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Article Text

EARLY DAYS IN SPRINGFIELD and is one of the largest, if not the very largest, realty holders in this section. For many. years he conducted hardware business in the building now being vacated by the American Savings Bank. He and the late Ely Paxson were married at the time and their golden wedding anniversary few years ago was notable event among the pioneer families. Dr. Robert Williams, son, is a prominent local physician and county health officer, Other children are Mrs. Lon Briggs, Mrs. Robert Love, Springfield, and Mrs. Roy Cox, of Trinidad, Hundreds of new buildings of all kinds, mostly frame, were going up on street and in Its Immediate vicinity. The townsite was being enlarged and lots were being sold for mile around. People lost their senses, apparently, when cow pastures and cornfields were invaded for more boom territory. The folly of this was apparent enough later when the town had sobered up sufficiently to realize that its breeches had been cut too long. Erstwhile realty boomers sat around and whittled goods boxes, played mumble-peg and pitched out in the center of business streets, while the sheriff seized and sold the property of unsophisticated suckers, who bit and lost their all in inflated realty values. Twenty years of readjustment followed this period, and just as the sun of brighter day was o'er the financial horizon, the Cleveland panic struck with force and knocked the props from under everything. Confidence crumbled. Barring Bros. had collapsed, bringing on disaster. Local banks were failing dally, topping the elimax finally, when five banks went punk in one eventful day, during which strong men and women, frantic with grief and desperation over the loss of their savings, stormed and strong-armed the multitude that surged and yelled in futile effort in front of the crashing banks to recover their life ings. In what was reported to be the final effort on the part of enemies to wreck the Holland bank. known for generation as the Glbralter of financial institutions of the Southwest, John O'Day presented a $50,000 check, which he had figured could not be paid. When cashier laid down the gold, O'Day craw-fished and asked to deposit the money. Gen. C. B. Holland, calm and reserved. is said tc have spurned O'Day's request, and ordered him out of the bank with the admonition that he never darken the door again. Holland's by this time had the front windows piled high with gold coin and greenbacks to reassure depositors, which seemed to check the wild run on this bank. Meantime, other banks were having hard time of it, only three, out eight or ten survivedHolland's, National (O'Day's) and Central National. F. G. Bentley (Bank of Springfield) got off the firing line early, locked up quit without even a skirmish, Capt. George Jones, George and Bunch McDaniel and Joe Sheppard were running the Central National, which was strong McDaniel institution for years before. The combined resources of these men, together with those of the McDarfiel family, and the age-old conservatism and of the McDaniels, kept this bank out of the crash. The old, Burlingame bank on the North Side was the first to collapse and it fell with such a thud that it paralyized every bank. in town for an instant, finally turning out to be the worst failure ever known in this community. The American National or Crawford bank, didn't have any hand in this smash up, but came on later. and proved disastrous. Strong enmities among factions were aroused during these' days and there was great rush to lay the blame on each other. Lots of peo-> ple always helleved, and still bethat A. B. Crawford was made the goat in the smash-up of that bank, and that in reality the punishment that eventually came Crawford should have gone to the people actually responsible for the wreck. "That panic was one of the experiences of the good old days that wouldn't care to go through with Daniel, who is still active as the head of the largest bank now in this section, the McDaniel National. years tacked onto one's life makes whole lot of ditference. The world at large had been on jamboree. The Cleveland campaign closed with an appeal by the Democrats to (see the books' after twenty years of continuous power by the Republicans, who had been accused of everything from salary down to outright subsidary crookedness. The people took the spellbinders at their word and put Cleveland To the great credit of the Republicans, however, all the money was intact, not penny missing. But Cleveland was reformer and the financial world was skeptical and began to 'pinch.' Everything soon was topsy-turvy. Locally, we had been drunk on big boom and consequent inflated values, with credits bulging out, and naturally enough went into the ditch, head foremost. When we yelled for help there was nobody handy who throw out the lifeline. believe in a little spree, always have, and don't hesitate to go on one when the conditions are right, but keeping one's hand on the safety\ valve. as were, is the important thing. banker, have always tried stay out of deep water in order to offer protection the fellow who is ever ready to wade in over \his head. Springfield will continue to climb; Experience has been and always will be our greatest teacher. Let's all help push ahead. But avoid any campaign of extravagance. Too much stretching of credit is always fraught with danger, even in the best of times, and extravagancewell, extravagance, as everybody knows; eventually brings on distrust, disorder and financial ruin. in municipalities as well as families. Perhaps I'm a bit out of date and old-fashioned. can't help that. It came about naturally enough I'm not willing to concede that the old standards have become entirely obsolete.' But to work, be honest. love your neighbor, PAY CASH and save little out' of your earnings for that rainy day. Don't get in debt Just because It. is easy to do so; look the field over and you will find out that the housewife or smart business man that buys for cash always seems to be on easy street. Take this advice from YOUR BIG BROTHER and guarantee you live longer with less worries and can look your neighbor in they face, (To Be Continued.)