Used contemporaneous press dates; receivership appointment reported mid-December 1930.
Events (5)
1.September 28, 1915Chartered
Source
historical_nic
+15 years
2.November 25, 1930Run
Cause
Local Banks
Cause Details
Run reportedly followed the closing of several banks in nearby Arkansas, Tennessee, Kentucky and southeast Missouri.
Measures
Directors closed the bank after withdrawals depleted cash reserves.
Newspaper Excerpt
First National Bank of Caruthersville was closed yesterday afternoon by its directors after a run. It was said withdrawals in the last few days had amounted to $100,000.
Source
newspapers
same day
3.November 25, 1930Suspension
Cause
Local Banks
Cause Details
Directors closed the bank because legal reserve fund had been reduced to near the minimum following the run sparked by nearby bank failures.
Newspaper Excerpt
The First National Bank of Caruthersville was closed yesterday afternoon by its directors after a run.
Source
newspapers
+23 days
4.December 18, 1930Receivership
Newspaper Excerpt
R. E. Bailey ... has been notified by the comptroller of currency of his appointment by the comptroller of currency as receiver for the First National Bank at Caruthersville.
Source
newspapers
same day
5.December 18, 1930Receivership
Source
historical_nic
Newspaper Articles (19)
1.November 26, 1930The Webb City SentinelWebb City, MO
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A RUN CLOSES MISSOURI BANK
First National Bank of Caruthersville was closed yesterday afternoon by its directors after a run. It was said withdrawals in the last few days had amounted to $100.000 The run on the First National, it was said, followed the closing of several banks in Arkansas, not far from here. Officials issued no statement other than to say the directors deemed it advisable to close because the legal reserve fund had been reduced to near the minimum.
R. L. Ward. former president of the State Bar Association. is president of the bank, and C. F. Bloker, cashier.
2.November 26, 1930The Webb City SentinelWebb City, MO
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A RUN CLOSES MISSOURI BANK
Caruthersville. Mo., Nov. 26.-The First National Bank of Caruthersville was closed yesterday afternoon by its directors after a run. It was said withdrawals in the last few days had amounted to $100.000
The run on the First National. it was said. followed the closing of several banks in Arkansas. not far from here. Officials issued no statement other than to say the directors deemed it advisable to close because the legal reserve fund had been reduced to near the minimum.
R. L. Ward. former president of the State Bar Association. is president of the bank. and C. F. Bloker, cashier.
Trv The Sentinel for Job Work
3.November 26, 1930Paragould SoliphoneParagould, AR
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Run Causes Closing Of Bank At Caruthersville
First National Bank of Caruthersville closed its doors at o'clock yesterday afternoon after 10-day run on the bank had depleted its cash reserve and deposits, $100,000. This bank was reorganized about 10 years ago national bank from the old Peoples Bank Its capital stock was $50,000 the surplus $25,000 and had undivided profits on Sept. 24 amounting over 60 banks in Arkansas, Tennessee and Kentucky and several in Southeast Missouri seemed to have its effect on this bank and slow run started 10 days ago. At that time the bank was in good condition having on hand to $117,551; $80,000 in bonds and securities and deposits of with no bill payable. On last Saturday the cash had dwindled to $53,000, deposits $43,000 and bills payable amounted $20,000 The total resources 10 days ago amounted to $699,940 while the deposits had dwindled to about $380,000 when the bank closed its doors.
BANK CLOSES CARUTHERSVILLE Mo., Nov. 25. (/P)-The First National Bank of Caruthersville was closed this after- noon by its directors after a run. It was said withdrawals during the last few days had amounted to $100,000.
5.November 26, 1930The Kansas City TimesKansas City, MO
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PLAN NEW ROAD LAWS.
A Conference Is to Be Held Today in Joplin. dred road boosters and leaders civic from all parts of Southwest are expected here when representatives of the Automobile Club of Missouri will come here for a discussion of program to be placed before the Missouri legislature. Roy Britten of St. Louis, and other members of the board of the club, will attend the The proposed program deals with the organization of a highway patrol and modernization of road and motor car laws.
RUN CLOSES MISSOURI BANK. First National of Caruthersville Fails to Withstand Withdrawals.
First National Bank of Caruthersville was closed this afternoon by its directors after run. It was said withdrawals in the last few days had amounted to The run on the First National, was said, followed the closing of sevbanks in Arkansas, not far from here. Officials issued no statement other than to say the directors deemed it advisable to close because the legal reserve fund had been reduced to near the minimum. R. L. Ward, former president of the State Bar Association, is president of the bank and C. F. Bloker, cashier.
6.November 26, 1930Daily American RepublicPoplar Bluff, MO
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RUN CAUSES CLOSING OF BANK AT CARUTHERSVILLE, MO.
Caruthersville, Mo., Nov. 26.-The First National Bank of Caruthersville was closed Tuesday afternoon by its directors after a run. It was said withdrawals during the last few days had amounted to $100,000.
Gainesville, Ga.-Love and health are the principal qualifications desired in husbands by seniors of Brenau college. By large majorities they have so decided in questions propounded by the faculty. New York. From conspicuous work in developing the skyscraper type which is giving New York its majestice sky line, Cass Gilbert, architect, has been awarded a gold medal by the society of arts and sciences. Although the Woolworth building, which he designed, has lost its supremacy as the largest, it is described by the society as an epochal landmark in the history of architecture. New York.-Back from the lake chad region of Africa, W. C. Seabrook, author, says cannibals there nicer to him than New Yorkers he has met on the street.
It is said that the broadcasting company which engaged Bernard Shaw, dramatist, for his radio talk, expected him to give a play by play description.
"Bargain Sales Banned by Chinese Merchants." Headline. Probably by the peace-loving type who are determined to stop counter-attacks.
In Java, rubber trees are being cut down to make way for rice crops. This is the inevitable result when one tires of rubber,
A college professor advises men to marry their stenographers. Perhaps he believes the men will like their type. There's a rumor that the Prince of Wales will marry Princess Ingrid of Sweden. Well, they say the best matches are made there.
Farm club boys in 23 counties entered 540 calves in the ninth annual fat stock show at Louisville, Ky.
7.November 27, 1930The Missouri Cash-BookJackson, MO
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CARUTHERSVILLE BANK CLOSES
Doors Shut After Run
The First National Bank of Caruclosed Tuesday ten-day on the bank and deposits The bank was about ago national bank. of the banks Arkansas to have caused the run. The bank to sound condicording reports tion. Deposits about when the bank closed its doors.
Citizens Trust Company of closed March and being liquidated. bank in that city the Bank of Caruthersville which of the strongest in Southeast Missouri.
8.November 27, 1930Iron County RegisterIronton, MO
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Tron County Register Published Every Thursday.
VOLUME LXIV. NUMBER 28.
IRONTON, MO., NOV. 27, 1930.
The dawn is visible in darkest Africa. Kansas elected a United States Senator and Governor this year.
The Anti-Saloon League wants a fund of $5,000,000 with which to finance the next campaign for the "noble experiment."
More than one hundred banks in Missouri and adjoining states closed their doors the past week. And it wasn't much of a week for bank closing under Hoover prosperity rule, at that.
The First National Bank of Caruthersville closed its doors Tuesday after a ten days' run on the bank had depleted its cash reserves and deposits of $100,000. The banks are tumbling like ten pins these days.
Mrs. Mabel Willebrandt, former attorney general, pronounced dry and very active in the Hoover campaign, has gone "wet." This is the charge made against her by the dry leaders since she has accepted employment from the wine producers of California.
If you have any such false idea in your cranium as that prohibition is prohibiting make it a point to attend one of the big football games or any other place where there are large assemblies. There was never anything like it in the days when the traffic was licensed.
The dry leaders fear that President Hoover is going to turn turtle on prohibition and threaten. if he does, to put a third candidate in the presidential race. It would be refreshing if some positive declaration was made from the White House. There has been nothing of the kind since the present incumbent's occupancy almost two years now.
The Hoover Democrats faded into obscurity in Alabama where Senator Heflin attempted to succeed himself as an independent against the regular Democratic nominee, John H. Bankhead. The supporters of Bankhead campaigned with home-made verse such as this: "Hoover blows the whistle. DePriest rings the bell. Heflin cries "All Aboard.' And business goes to hell!"
Politicians, or some of them. at least, certainly prey on the credulity of the masses. In the closing days of the recent campaign practically every Republican paper in this district, supporting Congressman Kiefner for reelection, stressed the fact of how very important and essential it was that we have a Congressman who believed in protection. This, in face of the disastrous and miserable conditions in the district today, with a tariff about as excessive as you can conceive.
From the News columns of the Eastern Press: "Missouri leads the list of those States which lose representation in the House, with a total reduetion of hree seats." Absolutely correct. And come to pass after ten years of "splendid Republican rule.' In the days when Democracy was triumphant in Missouri we stood fifth in the galaxy of states. Now we are tenth. To quote the St. Louis Globe-Democrat of long years ago, then rabidly Republican, "Poor Old Missouri!"
9.November 28, 1930The Daily Dunklin DemocratKennett, MO
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FIRST NATIONAL BANK AT CLOSED
Run Depletes Cash Reserves Deposits of $100,000: One Bank Left.
Mo., November First National Bank of Caruthersville closed its doors this afternoon after 10-day run on the bank had depleted its cash reserve and deposits of $100,000 The bank was reorganized about 10 years national bank. Its capital stock was $50,000. the surplus and had divided profits Sept. amounting to $19,000. The failure of banks in Arkansas, and Kentucky and several in Southeast Missouri thought to have caused the slow run. Before then the bank had cash hand amounting to $80,000 bonds and curities. deposits of $508.672.20 with bills payable Deposits had about $380.000 when the bank closed its doors. The Citizens Trust Co., closed March and being liquidated now. The Bank of Caruthersville the only bank here, is of the strongest and largest financial institutions in Southeast Missouri.
10.November 28, 1930Portageville Southeast MissourianPortageville, MO
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"Run" Closes Bank
Caruthersville, Mo., Nov. 25. -The First National Bank of Caruthersville closed its doors at 3:30 o'clock this afternoon after a ten-day run on the bank had depleted its cash reserve and deposits, $100,000. The total resources ten days ago amounted to $690,940, while the deposits had dwindled to about $380,000 when the bank closed its doors.
Among the out-of-town guests at the Catholic Ladies Thanksgiving Festival were Fr. Woods, of Sikeston, Fr. Flannigan and his mother of New Madrid, Fr. Walsh and Mr. Masdon of Caruthersville, Sam Pikey and wife of Conran, and W. E. Davis and wife and Mrs. Lee Williams of Pt. Pleasant.
11.December 19, 1930The Daily StandardSikeston, MO
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BAILEY RECEIVES BANK APPOINTMENT
R. E. Bailey, attorney of this city and former congressman from the 14th District, received notice Wed nesday from Senator Patterson of Washington, D. C., that the Comptroller of the Currency had appointed him receiver for the First National Bank at Caruthersville. The institution closed its doors on the afternoon of November 25, after a 10-day run had depleted its cash reserve and deposits of $100,000. The bank was reorganized about ten years ago as a National Bank. Its capital stock was $50,000, the surplus $25,000 and it had undivided profits on September 24 amounting to $19,000. The failure of banks in Arkansas, Tennessee and Kentucky and several in Southeast Missouri is tho't to have caused the slow run. Before then the bank had cash on hand amounting to $117,551, $80,000 in bonds and sceurities and deposits of $508,672.20 with no bills payable. Dejosits had dwindled to about $380,000 when the bank closed its doors.
12.December 19, 1930Daily American RepublicPoplar Bluff, MO
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BAILEY IS NAMED CARUTHERSVILLE BANK RECEIVER
By The Associated Press. Sikeston, Mo., Dec. E. Bailey, Sikeston attorney and former congressman from the Fourteenth District, has been notified by U. Senator Roscoe Patterson of his appointment by the comptroller of currency receiver for the First National Bank of Caruthersville. The bank closed November 25 after run had depleted its reserves.
PROPOSES INQUIRY
By The Associated Press. Washington, Dec. inves tigation of charges by Ralph S. Kel[ley, former field agent of the general land office, of irregularities in the of oil shale lands, was proposed offered today by SenWalsh, Democrat, Montana.
13.December 25, 1930Cape County PostJackson, MO
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Bailey Is Named Caruthersville Bank Receiver.
Sikeston attorney and former congressman from the Fourteenth Dist. rict. has been notified by 1'. S. Senator Roscoe Patterson of his appoint. ment by the comptroller of currency as receiver for the First National Bank , Caruthersville The bank closed November 25 after a run had depleted its reserves
14.December 25, 1930Caruthersville JournalCaruthersville, MO
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RALPH BAILEY NAMED RECEIVER FIRST NATIONAL
Ralph Bailey, an attorney of keston, and formerly congressman of this district, has been appointed ceiver for the First National Bank this city, which closed its doors Nov. 25, following heavy made on by depositors. Mr. Bailey one of the leading attorneys this district and this trict in congress in 1924. not, we are informed, necessarily mean that the bank not re-open or cannot re-organized later date, but measure tak the federal government relieve the agent who has been duty here since was placed in the hands of the department. The services of the agents are needed many other places, seems, over the country. Bank officials have no information to give out at the present whether or not the bank will be Investigation of its business being carried out at the ent, and the matters of re-organization will be taken later, probably up after the first of the year.
15.December 26, 1930Portageville Southeast MissourianPortageville, MO
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Bailey Selected as Bank Receiver
Sikeston, Dec., 19.-R. E. Bailey, Sikeston attorney and former congressman from the 14th district, has been notified by U. S. Senator Roscoe Patterson of his appointment by the comptroller of currency as receiver for the Fist National Bank of Caruthersville, which closed Nov. 25 after a run had depleted its reserves.
16.July 9, 1931Caruthersville JournalCaruthersville, MO
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(First Published July 1931) SHERIFF'S SALE No. 7247
By virtue and authority of execution issued from the office the Clerk of the Circuit Court within for Pemiscot County, Missouri, returnable the July, 1931 Term of said Court, me direcwherein the Federal Land Bank Louis, plaintiff, and Amon Lola Goodman, his wife, James Reeves, Trustee, Ralph Bailey, ceiver for the First National Bank of corporation, and the Pemiscot National Farm Loan ciation, corporation are defendants. have levied upon and seized the right, title and interest of fendants, to the scribed real estate, situated County Pemiscot, State to-wit: The Southeast Quarter (SE of the Southeast Quarter Section Fourteen (14), Township Seventeen (17) North, Ten (10) of the Fifth Principal Meridian, Forty (40) acres, more less. And FRIDAY, July 24, 1931 between the hours of nine o'clock the forenoon and five in the afternoon said day, at the front door of the Court House in the City County of Pemr and State of Missouri, and the session of the Circuit Court said County, sell public auction the highest bidder for cash, all the title, interest, claim and estate the above named and real estate described above satisfy said execution costs. Done Caruthersville, Missouri, this 29th day June, W. ROBERTSON, Sheriff Pemiscot County
17.January 16, 1932Daily American RepublicPoplar Bluff, MO
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DISTRIBUTE PORTION TO DEPOSITORS OF CLOSED INSTITUTION
Special to The American Republic. Caruthersville, Mo., Jan. 15.Checks representing a 25 per cent refund, were this week being distributed to depositors of the First National Bank, under direction of the National finance department. The dividend totals $85,000 which it is estimated is more cash than has been received to date from the entire cotton crop in this county.
18.November 4, 1932The Democrat-ArgusCaruthersville, MO
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(First Published November 1, 1932) SHERIFF'S SALE
By virtue and authority of a special execution issued by the Clerk of the Circuit Court of Pemiscot County, Missouri, bearing date of September 2, 1932, returnable to the November term, 1932, of said Court, and to me, as Sheriff. directed and delivered, in favor of The Little River Drainage District, a public corporation, plaintiff, and against Gertrude Schoonover, T. V. Schoonover, James M. Reeves, R. E. Bailey, Receiver for the First National Bank of Caruthersville, defendants I have levied upon and seized all of the right, title, interest and estate of said Gertrude Schoonover, T. V. Schoonover, James M. Reeves, R. E. Bailey, Receiver for the First National Bank of Caruthersville of, in and to the following described
19.March 21, 1933The Democrat-ArgusCaruthersville, MO
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Jas. A. Bradley, who has succeded to the receivership of the First National Bank here, following Atty. E. Bailey of Sikeston in this work and combining the local work with that connected with the First National in Blytheville, asks to advise the public the of April the that after 1st bank here will be open only on the first three days of each day, Tuesday and Wednesday work of making settlecarry on the ments with individuals. He states he will have only one assistant, young lady of Blytheville, and in line with policies of retrenchment in such matters, will not keep the doors of the lobank all the time, as has cal open been done thus far. The services has been with the Guy E. Michie, who bank here since its closing (and long being distime prior thereto,) with and Mr. Bradley and his pensed lady assistant will handle young affairs in future.
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
