10802. Page Bank (St Louis, MO)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: May 8, 1927
Location: St Louis, Missouri (38.627, -90.198)

Metadata

Model: gpt-5-mini
Short Digest: 1378e0e4

Response Measures

Full suspension, Books examined

Other: State finance authorities ordered the bank closed; later bank examiner placed bank in charge and the president was indicted (failure/receivership).

Description

Multiple contemporary papers (May 7–8, 1927) report heavy withdrawals and that The Page Bank ... closed its doors today to prevent run after heavy withdrawals. Board discussed reopening but state officials/inspector involvement followed; a later Globe-Democrat story (1928-01-07) describes the bank's failure/receiver and indictment of the president. Sequence: run → suspension/closure in May 1927, ultimately failed/receiver by Jan 7, 1928. I classify cause as bank-specific adverse information (murder of director/financial irregularities and revelations about Hicks' tangled finances led depositors to withdraw).

Events (3)

1. May 8, 1927 Run

Cause: Bank Specific Adverse Info
Cause Details: Heavy withdrawals followed revelations about the slain attorney-director Clifford M. Hicks' tangled finances and alleged frauds, prompting depositor panic.
Measures: Bank closed its doors 'to prevent run' and board met to consider actions; directors stated they believed bank solvent and discussed re-opening.
Newspaper Excerpt: The Page Bank ... closed its doors today to prevent run after heavy withdrawals yesterday.
Source: newspapers

2. May 8, 1927 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Closure ordered following heavy withdrawals tied to disclosures about Clifford M. Hicks (a former director) and related suspicious financial transactions; state finance actions mentioned in some reports (state finance ordered closed in one report).
Newspaper Excerpt: The Page Bank ... closed its doors today to prevent run after heavy withdrawals.
Source: newspapers

3. January 7, 1928 Receivership

Newspaper Excerpt: the failure of the bank ... the Page Bank ... was in charge of the then placed Bank Examiner ... indictments ... grow out of the failure of the bank ... the bank, located ... was run and closed. bank in charge of the then placed Bank Examiner. (St. Louis Globe-Democrat, 1928-01-07).
Source: newspapers

Newspaper Articles (10)

1. May 8, 1927 Bozeman Daily Chronicle Bozeman, MT

Article from Bozeman Daily Chronicle, May 8, 1927

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MURDER CASE Tangled Web of Financial Transactions of Victim Sheds Small Light. WILL DISINTER BODY FOR IDENTIFICATION Brother Released on Bond. Was Chief Beneficiary of Insurance Policies. St. Louis, May the Associated slaying of Clifford Hicks, 28 year old law partner of former Governor Elliott Major, remained mystery tonight, one week after he he was shot to death lonely road Louis county, although police had gathered mass of information regarding the attorney tangled financial affairs. Developments followed each other swiftly today. Prosecuting Attorney Mueller nounced he would re-open the inquest and recommend that the coroner hume the body, probably Tuesday, to set at rest rumors that Hicks was not actually slain but had disappeared in gigantic hoax to collect his $365,000 life insurance. This theory was discredited by the scores of persons positively identified the body as that Hicks. The Page bank, of which Hicks was former director, and whose president, Crain, business ciated of the attorney, closed its doors today to prevent run after heavy withdrawals yesterday. The bank was capitalized for $25,000 and had total of $257,393.76, according to the last statement. The safe of the Fidelity Storage, Moving and Packing company, headed Monima B. Betts, wealthy motherin-law of Hicks, was rifled early today what police believe was an attempt obtain some of Hicks' documents. Glenn Hicks, brother and business associate, and two ex-conviets, William Davis and Henry Bostelman, had been held since Thursday for questioning were released under bond answer charges that may be placagainst Glenn Hicks the chief beneficiary under the will made by his brother the day he was killed and also was the chief insurance beneficiary. H. Fox, an attorney in Major's office, told police late today of ference held the night before Hicks killed in an effort to straighten his finances. At the conference Hicks, Fox, Major, Crain and James Rector, law associate Hicks. It had been discovered, Fox said, that Hicks had obtained $1,000 from Fox forged deed, and owed $1,500 at the Page bank. Major asked him if he needed money. Hicks replied, tomorrow I'll have all He agreed to meet Major and the others Saturday, but did Neither did he settle his obligations.

2. May 8, 1927 Evening Star Washington, DC

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MYSTERY DEEPENS N LAWYER'S DEATH Body to Be Exhumed to Prove Demise-Hicks' Finances Tangled. By the Associated Press. ST. LOUIS, May 7.-The'slaying of Clifford M. Hicks, 28-year-old law partner of former Gov. Elliott Major, remained a mystery tonight, one week after he was shot to death on R lonely road in St. Louis County, although police had gathered a mass of information regarding the attornev's tangled financial affairs. Developments followed one another swiftly today. Prosecuting Attorney Mueller announced he would reopen the inquest and recommend that the coroner exhume the body probably Tuesday, to set at rest rumors that Hicks was not actually slain but had disappeared in a gigantic hoax to collect his $365, 000 life insurance. This theory was discredited by the scores of persons who positively identified the body as that of Hicks. Bank Closes Doors. The Page Bank, of which Hicks was a former director. and whose president, J. L. Crain, was a business associate of the attorney, closed its doors today to prevent a run after heavy withdrawals yesterday. The bank was capitalized for $25,000 and had total resources of $257,393.76, according to the last statement. The safe of the Fidelity Storage, Moving and Packing Co., headed by Mrs. Monima B. Betts, wealthy mother-in-law of Hicks, was rifled early today in what police believe was an attempt to obtain some of Hicks' documents. Glenn Hicks, 23-year-old brother, and business associate, and two exconvicts, William Davis and Henry Bostelman, who had been held since Thursday for questioning, were released under bond "to answer any C charges that may be placed against them." r Brother Chief Beneficiary. d Glenn Hicks was the chief beneC ficiary under the will made by his h brother the day he was killed and also a was insurance t an attorney of S. L. the Fox, chief beneficiary. in Major's late a the was fice, ence told held police night today before of Hicks conferd killed in an effort to straighten out a his finances. At the conference were r Hicks, Fox, Major, Crain and James A. Rector, another law associate of Hicks. It had been discovered, Fox said, that Hicks had obtained $1,000 from Fox on a forged deed and owed $1,500 at the Page Bank. Major asked if he needed money. C "No," Hicks replied, "tomorrow I'll have all I need." He agreed to meet Major and the others Saturday, but did not. Neither did he settle his obligations. $50,000 Fraud Charged. W Fox told police he believed Hicks c had defrauded him of about $50,000 in t their business deals. o "Every minute I investigate this case the more I find I've been t 'gyped,' said Fox, who attended in school with Hicks. Hicks had been discounting promissory notes with Fox, who is treasurer of the People's Loan and Investment S Co. Fox said that of 30 notes reS cently received in this way he had S been able to find only one note maker, E and he believed the other 29 were d non-existent. He said he dealt with Hicks personally and did not learn of F the now defunct St. Louis Finance Corporation, of which Hicks was F secretary-treasurer, until a week ago. i Crain at one time was president of the corporation.

3. May 8, 1927 The Baltimore Sun Baltimore, MD

Article from The Baltimore Sun, May 8, 1927

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Resigned To Hear Sentence, But Hopes To Escape Chair. Prosecutor Also To Recommend Exhumation Of Body Of Louis Lawyer. AFRAID, HE ASSERTS END HOAX TALK Widow Said To Place Remarkable Bank, Which Supposed Murder Confidence In Traditional Victim Is Said To Have Owed Immunity. Closes. New woman whose every gesture and word been "first-page for many days twiddled their thumbs in the clusion of their separate 'cells in City's Jail today. The man and woman are Henry Judd and Mrs. Ruth Brown Snyder, charged with the murder of Mrs. Snyder's husband, Albert Snyder, art editor. Snyder, jail attaches reported, that the jury, which expected the case Monday, send her the electric chair. widow's confidence in the traditional immunity of sex from capital punishment gave her fortitude that was described by her guards as Gray Shows Hope. But Judd Gray, her little corset salesan fortitude resignation jailers said. afraid of the chair," him. of contentfind myself unafraid, probably shall sentenced still think have chance the chair." Both had remained in their cells since left the Queens County Supreme Court Friday when the takof testimony completed. Widow Accused During their testimony, Mrs. Snyder Gray killing her and following out threat her of the crime. admitted that she had unlocked doors the Snyder through which Gray entered paraphernalia death brief Despite testified, Gray brutally killed her husband then made her submit being bound gagged, by burglars. Twice before the trial she differthe she third discordant story. Dragged Into Gray's Story. State alleged killed bert Snyder's $96,000 for which she insured without his knowledge. Gray, arrested Syracuse about hours after the crime the killing Albert Snyder. As soon he learned that Snyder attributing the murder made confession in which that Snyder planned the crime that dragged into the scheme the dominance of her mind his. called this her "magnetism." session Monday will begin with which Judge send will charge the St. Louis, May Reserve Board Clifford M. Hicks, law partner stabilization former Gov. Elliott Major, remained ditions. provided mystery tonight, one week after he seven members shot death road St. Louis modity and although police had gathered county, stabilization corporations. mass information regarding the torney's tangled affairs. sidiary of the Developments today. Prosecuting Attorney Muller kept to minimum nounced would reopen inquest ment participation that the exhume body, probably Tuesday, set rest rumors that Hicks not actually had disappeared hoax This his $365,000 insurance. This fund $300,000,000. theory discredited by of per$25,000,000 would who positively identified the body Bank Closes Prevent Run. The Page Bank, which Hicks former and whose president, Crain, attorney, closed its doors today prevent after heavy yesterday. The bank capitalized and total resources according to the last statement. safe the Fidelity Storage, and Packing Company, headed Moving Mrs. Monima Betts, wealthy mother-in-law Hicks, rifled early what police believe today obtain of Hicks' docutempt ments. Three Freed Under Bond. Glenn Hicks, brother and associate, Davis and Henry Bostelman, been since Thursday for quesreleased under bond charges that may be Glenn Hicks was the against under the will made chief beneficiary his brother the day the chief insurance benealso was ficiary. Fox, an attorney in Major's office, told police late today the night before Hicks ference held straighten out his killed effort conference Hicks, finances. the James Rector, Major, Crain associate Hicks. another Bared. Alleged said, that been Hicks obtained and owed $1,500 at forged bank. Major asked him Page needed money. Hicks replied, "tomorrow, all meet Major and the He agreed Saturday, but not. Neither settle his obligations. told he believed Hicks had Fox police defrauded him $50,000 their deals. minute investigate this find said attended school Hicks.

4. May 8, 1927 The Austin American Austin, TX

Article from The Austin American, May 8, 1927

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BANK CLOSED Slain Attorney's Depository Ordered To Shut Doors. ST. May The Page bank, neighborhood inat 25,000 used as by Clifford slain attorney and business Crain president of the bank, ordered closed today by the state finance Hicks Crain had been assoclated affairs the St. Louis finance corporation now in receiverGlenn Hicks, 23-year-old brothassociate the slain man, was released today on bond answer any charges which may be brought against him.

5. May 8, 1927 The South Bend Tribune South Bend, IN

Article from The South Bend Tribune, May 8, 1927

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DEVELOPMENTS MOVE FAST HICKS' MURDER SLAYING OF ATTORNEY IS STILL MYSTERY AFTER WEEK'S PASSING. MAY BE EXHUMED Theory Offered That Lawyer is Not Dead But Disappears in Gigantic Hoax to Win Insurance. ST. LOUIS, Mo., May slaying of Clifford M. Hicks, age 28, law partner of former Gov. Elliott Major, remained mystery to-night, one week after he was shot to death on lonely road in St. Louis county, alis though police had gathered mass of information regarding the attorney's tangled financial agairs. Developments followed each other to-day. Prosecuting Attorney Mueller announced he would reopen the inquest and recommend that the coroner exhume the body probably Tuesday, to rumors Hicks actually but had collect This theory was discredby scores persons positively identified the body as that Hicks. Bank Closed to Prevent Run. The Page bank. of which Hicks was former director, and whose presiwas sociate of the attorney, closed doors to-day to prevent run after heavy withdrawals Friday. The bank capitalized for and had resources of accordto the last statement. of the Fidelity Storage, Moving Packing headMrs. M. Betts. wealthy of Hicks, was rifled in believe an attempt to obtain some of Hicks' documents. Glenn Hicks. age 23. brother and business two victs. William Davis and Henry Bostelam. who had been held since Thursday for were released under bond any charges that may be placed against Glenn Hicks was made the chief beneficiary under the will made by his brother the day he was killed and also was the chief insurance beneficiary. Conference Precedes Murder. 8. L Fox. an attorney in Major's told police late to-day conference held the night before Hicks killed in an effort straighten out his finances. At the Crain and James Rector, another law associate of Hicks. been Fox said. that Mr. Hicks had obtained from on a forged deed and owed $1,500 the Page bank. Major asked him if he needed money. Hicks "to-morrow I'll have all He agreed to meet Major and the others Saturday, but did Neithhe settle his obligations. Fox told police he believed Hicks had defrauded him about $50,000 in their business deals. "Every minute investigate this case the more find I've been said attended school with Hicks.

6. May 8, 1927 The News and Observer Raleigh, NC

Article from The News and Observer, May 8, 1927

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DEATH OF HICKS MYSTERIOUS Tangled Mass of Information Dug Up Following Slaying of Young Lawyer Louis, May slay. ing of Clifford M. Hicks, law partner of former Gov. Elliott Major, remained mystery tonight, one week after he was shot to death lonely road St. Louis County, although police had gathered mass of regarding the attor tangled financial affairs. followed each other swiftly today. Hints of Hoax Prosecuting Attorney Mueller an nounced he the inquest and that the hume the body, Tuesday, to set at rest that Hicks was not slain but had disappear in hoax to collect his $365,000 life insurance. This money theory was discredited by the scores perosns who positively indentified the The Page Bank, of which Hicks director, and whose president, Crain business associate of the attorney closed its doors today to prevent run after heavy yesterday. The bank capitalized for $25,000 and had total of to the last The safe the Fidelity Storage, and Packing Company, headed by Mrs. Monima B. Betts, weal thy of Hicks, rifled early today in what police believe an attempt to obtain some of Hick's documents. Released Under Bond. Glenn Hicks, brother and business and two William Davis and Henry Bostelman, who had been held since Thursday for were leased under bond "to answer any charges that may be placed against them." Glenn Hicks was the chief beneficiary under the will made his brother the day he was killed and who was the chief insurance beneficiary. Cox, an attorney in Major's office, told police late today of held the night before Hicks was killed effort straighten out his At the conference were Hicks, Fox. Crain and James Rector, another law of Hicks. had been discovered. Fox said, that Hicks had obtained from Fox forged deed and owed the Page Bank. Major asked him if he needed Hicks replied. "Tomorrow I'll have all He agreed to meet Major and the Saturday, but did not. Neither did he settle Talk of Fraud. Fox told he Hicks had him about $50,000 their business deals. "Every minute this case the more find I've been said Fox, who attended with Hicks. Hicks had been promissory notes with Fox. Fox said that thirty notes recently ceived this way, he had been able find only one and he the other 29 were ent. He said he dealt with Hicks and did not learn of the now defunct St. Louis Finance Cor poration, of which Hicks was until week ago Crain at one time was president of the corporation.

7. May 8, 1927 Springfield News-Sun Springfield, OH

Article from Springfield News-Sun, May 8, 1927

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HICKS SLAYING IN ST. LOUIS IS STILL MYSTERY Police However, Gather Information on Attorney's Affairs. ST. LOUIS May slaying of Clifford M. Hicks, 28year-old partner former Gov. Elliot Major, remained mystery tonight, one week after he shot to death on lonely road St. Louis County, although police had gathered of information regarding the attorney's tangled financial affairs. followed each oth. swiftly today. Prosecuting Attorney Mueller he would the quest and that the coroner the body probably Tuesday, set rest rumors that Hicks was not actually slain but had disappeared in hoax to collect his $865,000 life Insurance. This theory was discredited by scores of positively identified the body of that of Hicks, The Page Bank, of which Hicks former director and president, J. L. Crain was business of the its doors today prevent after heavy yesterday The bank was capitalized for and total $257 according to the last statement. The safe of the Fidelity Storage, Moving and Packing Co., headed by Momina Betts, wealthy (Continued on Page 10, Column 5)

8. May 8, 1927 Livingston Enterprise Livingston, MT

Article from Livingston Enterprise, May 8, 1927

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ST. LOUIS SLAYING IS MYSTERY; GREAT HOAX IS SUSPECTED PROBE TANGLED FINANCES FOR HOAX EVIDENCE SLAYING OF YOUNG ST. LOUIS ATTORNEY MORE OF MYS. TERY THAN BANK IS CLOSED BANK IN WHICH YOUNG MAN DIRECTOR IS CLOSED TO AVOID RUN ST. LOUIS, May slaying of Clifford M. Hicks, partner of former Governor Elliott Major, remained mystery tonight, one week after he was shot to death on lonely road in St. Louis county, although police had gathered mass of information regarding the attorney's tangled financial affairs. followed each other swiftly today. Attorney Mueller announced he would the inquest that the hume the body, probably Tuesday, to set rest that Hicks was not actually slain but had disappeared collect his $365,life insurance. This theory was discredited by the scores of persons who positively identified the body as that of Hicks. The Page bank, of which Hicks former director, and whose president, Crain, was business of the attorney, closed its doors today to prevent run after heavy The bank was capitalized for $25,000 and total resources of according to the last statement. The safe the Fidelity Storage, Moving and Packing company, headby Mrs. Monima Betts, wealthy Hicks, was rifled early today what polive believe was an attempt to obtain some of Hicks' Glenn Hicks. 23-year-old brother and associate, and two exconvicts, William and Henry Bostelman, who had been held since Thursday for leased under bond any charges that may be placed again them. Glenn Hicks the chief beneficiary under the will made by his brother the day he killed and also was the chief insurance beneficiary. Fox, an attorney Major's office, told police late today conference held the night before Hicks was killed in an effort straighten his finances. At the conference were Hicks, Fox, Major, Crain and James Rector, another Hicks. had Fox said, that Hicks had obtained from Fox forged and owed $1,500 the Page bank. Major asked he needed money. Hicks replied, "tomorrow I'll have all need He agreed to meet Major and the others Saturday, but did not. Neither did he settle his obligations.

9. May 13, 1927 The Sedalia Democrat Sedalia, MO

Article from The Sedalia Democrat, May 13, 1927

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May Body to Set Rest He Not OF WHICH WAS Brother and Two victs Held Were Released on Bonds Associated LOUIS, Missouri The Clifford Hicks, year partner former governor Elliott Major, remained mystery Saturday one week after shot death lonely road in St Louis County, although police had gathered mass of information garding the attorney's tangled finan affairs. Developments followed other swiftly today. ProsecutAttorney Mueller announced would inquest and mend that the coroner the Tuesday that Hicks not actually slain but had disappeared tic hoax to collect his life insurance. This theory discredited by the persons who identified the body that of Hicks The Page Bank which Hicks director whose president, Crain, business associate of the attorney doors today prevent run withdrawals yesterday. bank capitalized for and total of the last statement. The the Fidelity Storage, Moving Packing Company, headby Mrs. Monima wealthy Hicks, rifled today what police believe attempt obtain some Hicks' documents. Glenn Hicks, year brother, and associate, and convicts, Davis Henry Bostelman, who been held since Thursday for leased under bond charges that may placed against Glenn Hicks the was beneficiary under the will made his brother killed and was the chief insurance beneficiary. Fox, an attorney in Major's told police late today ference held the night before killed in an effort to straighten his the At conference Hicks, Fox, Major, Crain James Rector, another law associhad been discovered. Fox said, Hicks had for Fox forged deed owned the Page asked him he replied. have He agreed to meet Major Saturday but did not. Neither settle obligations. police believed Hicks had frauded about in their business deals. minute investigate find been Fox, attended school Hicks. Hicks been discounting issory notes Fox, the Peoples InvestCompany. Fox said that thirty notes in he had been able find only maker he believed the He dealt with Hicks personally and not learn the defunct Louis Finance Corporation, of which until Crain time was president of corporation. Discuss Reopening ST LOUIS, reopening the Page Bank which closed Saturday of resulting disclosure transactions bank and Clifford Hicks, attorney and former director discussed meeting of the board of Sunday said board to close the discount apparent Friday slow run had been started learned that Secretary State Becker had taken steps withdraw state motor license funds deposit. Grain said he and directors believed bank solvent. Notes around which had been Hicks held for by the after vestigation take notes and order prothem, Hicks the bank straight insurance $15,000 payable Crain He to learn the policy had paid. Crain said Hicks asked resign member the bank's board directors after nation of the bank April The the at that reported satisfactory. Steininger, automobile said there was about of funds the Page bank but he could not estimate present amount. At state treasurer's ferson learned that checks drawn by Louis Branch the state automobile department

10. January 7, 1928 St. Louis Globe-Democrat St. Louis, MO

Article from St. Louis Globe-Democrat, January 7, 1928

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FORMER HEAD OF PAGE BANK IS INDICTED Crain, President of Institution That Lawyer's Accused in Murder, Four Counts. IN EXCESS LIMIT CHARGED Banker Manipulated $300 Account of Woman and KnowTook Deposits ingly Illegally, Bill Avers. Four indictments have been voted against Crain, former president the Page Bank, by St. Louis County grand jury. which has just concluded an investigation into the failure that bank last murder of lowing the M. Hicks, attorney for the Clifford was learned yesterday. The indictments, which grow out the failure of the bank, will be returned the grand jury makes its anreport. Hicks' body. with six bullet holes lying beside the found on the morning of May road Probate Judge Hodgdon last horseback riding. When while the Page Bank, located 6135 Page boulewhich is there run and closed. bank in charge of the then placed Bank Examiner. Exhaustive that with base there nation the indictments The voting of in the world would have the temerare the result of an against Crain ity to attack the Pacific." Maby the grand exhaustive gruder said that such was his view, affairs the bank jury into the but added. that Pearl Harbor had during which officers and one fallacy in that of the institution were depositors ble attack but that this and its books closely questioned could not avoided. amined. Magruder will appear before the Manipulation of Deposit. again Monday. One of the true bills against Crain $300 checking account concerns SEES DINNER relative Hicks which woman at the bank. on deposit VS. BEER PAIL FIGHT charges that Crain, with Hicks' apwithout the depositor's proval withdrew almost the New York Leader Believes and transferred account G. Will Defeat which Hicks interanother Hicks' relative, is charged. Any Democrat. permitted her DISPATCH THE virtually amount account KANSAS CITY. MO., January her original deposit. The taciturn William Butler, Information concerning this transMassachusetts Yankee, became for learned action. today, rather suave, but genial from books of the Westerner. The of the Rebank and publican National Committee, the transaction. The depositor that impression when early in claim to the Deputy also put today to meet Reception Commitin charge of the Bank the Union Station, confirmed the affairs for liquidation had day progressed and he conbalance she thought she the ducted Convendeposit. further known that tion Hall and carried out other Prosecuting Attorney Fred Mueller be- ties. endeavored to get this woman witness. Hilles, national committeethe grand jury was unable to locate her. for New York, and vice chairTrue Bills. man, busy figure. Other indictments voted When the Reception Committee Another of the bank permit- boarded the private car found him that the deposits when to the only one the party of accept visitors insolvent up and dressed. Hilles had some true bill based on comments to make about third early that the bank loaned hours: It then was nearly o'clock. allegation