10857. Farmers Bank (Strasburg, MO)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
November 7, 1931
Location
Strasburg, Missouri (38.760, -94.166)

Metadata

Model
gpt-5-mini
Short Digest
53935ca2

Response Measures

Full suspension, Books examined

Other: Liquidating agent appointed by State Finance Commissioner (government receivership).

Description

Articles report heavy withdrawals (a 'run') after Cashier Brown disappeared and was later charged with embezzlement. Directors closed the bank (suspension) and the state appointed a liquidating agent, indicating permanent closure. I corrected/derived dates from publication dates (Nov 13 and Nov 19, 1931).

Events (3)

1. November 7, 1931 Run
Cause
Bank Specific Adverse Info
Cause Details
Large withdrawals triggered after allegations and gossip about Cashier Brown (alleged drunkenness and disappearance) and later embezzlement charges against him.
Measures
None explicitly beyond increased checking by directors/examiner; bank later closed by directors at noon on Tuesday pending examination.
Newspaper Excerpt
Some withdrawals of accounts occurred on Friday, more on Saturday. A Times reporter was told in Strasburg that the Saturday business amounted to a run.
Source
newspapers
2. November 10, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors closed the bank after the cashier disappeared and embezzlement was alleged; state banking department took charge and an examiner was called to check the books.
Newspaper Excerpt
By action of the board of directors, the Farmers Bank of Strasburg closed at noon last Tuesday and now in charge of of the state banking department Shaw.
Source
newspapers
3. November 18, 1931 Receivership
Newspaper Excerpt
Walter Morhart, ... was appointed by State Finance Commissioner Cantley as deputy commissioner to liquidate the affairs of the closed Farmers Bank of Strasburg. He began on his task yesterday. (Pleasant Hill Times excerpt).
Source
newspapers

Newspaper Articles (2)

Article from The Pleasant Hill Times, November 13, 1931

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Article Text

ACTION NOON TUESDAY OF Move to Suspend Business Wher Cashier Brown Disappears from Town By action of the board of directors, the Farmers Bank of Strasburg closed at noon last Tuesday and now in charge of of the state banking department Shaw. Strasburg has since been in turmoil. People alarmed and bitter gather in groups. The closing the bank the one engrossing ject. The bank's directorate in an emergency meeting last Saturday determined to call an examiner check on the business, and Mr. Shaw reached Strasburg, Monday. There conferences and was agreed to begin the check Tuesday morning. Brown, cashier, appeared the bank that but excused self, he was going home cup coffee, that his head aching. When was learned that left town, immediate decision made to close. Up to the disappearance of the cashier, apparently, check-up of cash and securities the only immediate move in prospect. Brown's departure precipitated tion. M. Anderson, prosecuting attorissued warrant for Brown ney, Tuesday afternoon, charging embezzlement. There are some people in Strasburg who believe that Brown was all right and that the bank was sound, that the cashier, having met with opposition to his ideas running the tution, threw discretion to the winds and left in the affairs of the bank will be found sound they were when Brown came into terest in the institution and the cashiership early in August. But there others who fear that the bank has been crashed into ruin and that Brown to blame. reported that was "clean as hound's tooth" when Haynie, former cashier, sold out three months ago and was succeeded by Brown, who came from Independence, Kansas, and who said to have once been Kansas bank examiner. When Brown disappeared Strasburg he carried with him some the bank's keys. These sent back to the president, Jerry James, mail, Tuesday. Brown had posted them at Lawrence, Kas. He said have appended note to the effect that he through." President James he has nothto say SO far because he knows nothing. The examiner explains that what he has to say will be made in formal when the concluded. Street gossip rife in Strasburg that Cashier Brown was drunk at the Guy Christie sale near Latour, which he clerked last Friday friend the cashier that while Brown was intoxicated was because "dirty trick" was played by who plied him with cider which had been any rate, word Brown's alleged drunkstate bruited around. Some withdrawals account occurred Friday, more on Saturday. Times reporter told in Strasburg that the Saturday business amounted to The Farmers Bank of Strasburg was started possibly 30 years Harley Dallas, then of Pleasant being interested, and he was Rolla Peck as cashier, then there was Rountree sibly one other cashier to the time of the coming of Haynie. Haynie is generally credited with being sound and safe banker, and there every to believe that the bank, when he left it, was, ported, to the fect that the it encountered are entirely due to conditions arising since about August Men who are supposed to know the belief that the bank will out with no loss to the depositors, rumors that there is shortage thousands dollars. Whether, paying out, the bank is re-opened, to be seen. James president, Mrs. Yankee, Mrs. Homan recently been sistant cashier. But she on vacation when the closing occurred. At close of business, Sept. 18, statement was issued and attested Mr. Brown, follows: RESOURCES Personal and collateral Overdrafts and other than banking from Items Capital Cashier's Deposits subject county, deposits payable Henry Seymour spent Friday and Saturday Kansas City. Saturday worked one of the stores. He in Pasadena, Calif., four years. CHAS. CODER OUT OF COUNTY ON HABEAS CORPUS WRIT Sheriff Bids Him Farewell, Admonishing Him Get Out of Cass and Stay Out Chas. Coder, Bolshesent to from Pleasant under sentence of imprisonment and fine of $500, was freed action taken Friday Judge Francis Trimble, presiding judge of the Kansas City Court Appeals. Sheriff Roy Mosby of Cass County released Coder early that night. Coder's freedom was gained by of writ of habeas corpus. "Get out and stay said the sheriff. Coder replied. "Judge Trimble's opinion was said the Kansas City Star, "stating generally the intents of an unlawful must do an unlawful act with force arms against the or person property of another against the peace the terror of the people.' conclusion the judge said: fortunate for him (Coder) that he is in state and country where Constitution and laws thereof, especially the writ of habeas force and be invokby the humblest "Coder's brief stay in the county said Wm. Anderson, county torney, "served our purpose. He knows now that do not want him any of his kind Technically, Coder, the court held, not guilty of inciting an assembly, but there quite dynamite in the in this city, Saturday evening, Oct. when made his speech. There might well have been an unlawful assembly, shortly, meaning an assembly prevalent with and Marshal M. Stamps, County Attorney Anderson and Deputy SherBud Cox arrested the speaker when they There were Coder sympathizers in the crowd and there also were who were beginning to red cause of what the Red was saying, especially after he had berated the Salvation Army KanCity Provident Association, then panning to the American Leand to the Veterans of Foreign Coder had been here several times previous the open meeting and is credited with having organized membership group here of the ciation which he represents. However, according Marshal Stamps, this group has apparently solved itself into state of innocuous Mr. Stamps he afterward with one the bers. This man told the officer that what Coder had stated about the ganization previous to the time of the uproar when the Red made his speech not tally with the sentiments pressed speech. Later this man, further went to Kansas City to sentiments expressed around in the similar the timents of Coder. and the local man came away, deciding that he was through.


Article from The Holden Progress, November 19, 1931

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Article Text

OBITUARY The Soldiers' Graves to Be Marked Leonidas Munday post, American has set before it the task of marking the graves of all diers buried in the city cemetery This will be difficult task, and the boys ask the assistance from in the community. When everyone the city hall was burned several years ago, the original plat and records were destroyed. This made the locating of soldiers' graves very especially where interments were made many years The late Perry Paul, who was ton of the cemetery several years was probably better able to supply this information than anyone else. The Legion Post aims to have this information absolutely correct whereupon each grave will marked with headstone and bronze marker, which are furnished by the war department. The post will have meeting morrow (Friday) night, when this matter. along with others. will up for consideration. A full attendance of ex-service men is quested. Those not members of the post are specially invited to join. regulation and good of the service. "All members of the patrol, on duty and off should conduct themselves in manner that shows moral character. good breeding and honesty. Great confidence has been placed in them. No broader responsibility is imposed on an dividual than that given law enforcement officer thereit behooves patrolman demean himself at all times in such way that he may gain the respect of the people of the state." Send us your renewal today. Morhart Liquidating Agent Walter Morhart, for quarter of century part and parcel of the Farmers & Commercial Bank of Holden. twelve years as cashier, was appointed by State Finance Commissioner Cantley as deputy commissioner to liquidate the fairs of the closed Farmers Bank of Strasburg. He began on his task yesterday. No better selection could be made. Few men in this part of the state have better grasp on banking matters and the general conditions of this agricultural part of the state than Mr Morhart He is an indefatigable worker and performs his tasks with thoroughness. In addition these. he the very soul of courtesy, quality which will be great asset in straightening the tangles of the institution Mr. Morhart's many friends here congratulate him on his preferment. The following in regard to the affairs of the closed bank has been taken from last week's Pleasant Hill Times: Street gossip in Strasburg that Cashier Brown was drunk at the Guy Christie sale near LaTour, which sale he clerked. the cashier that while Brown intoxicated was cause "dirty trick" was him by men who plied him with cider which had been "spiked." At any rate. word of Brown's alleged drunken state was bruited around. Some withdrawals of accounts curred on Friday, more on Saturday. A Times reporter was told Strasburg that the Saturday business amounted to run. The Farmers Bank of Strasburg was started possibly 30 years ago Harley Dallas, then of Pleasant Hill. being interested. and he was cashier. Rolla Peck followed as cashier, then there was Rountree and possibly one other cashier up to the time of the coming of Haynie. Mr. Haynie generally credited with being sound and safe banker. and here every reason to believe that the bank. when he left it. was. as ported, in No condition. to the effect that the breakers it has encountered are entirely due to conditions arising since August 7th. Men who are supposed to know assert the belief that the bank will pay out with no loss to the depositors. despite the rumors that there shortage of thousands of lars. Whether if paying out, the bank is re-opened, remains to be seen. Cyrus Farnsworth died Sunday his 3241 Kansas City after an illness eral months. The funeral held yesterday afternoon, services in Quick City Christian church conducted by Rev. Kenney of Leeton, and interment at Garden City. Deceased, son of Christopher Lotspeich and Nancy Caroline Farnsworth born Jan 1872 at the old Farnsworth homstead southwestern Johnson-co. and had spent life here until thirteen years when he went to Kansas City He continued to look after his landed interests here, and was here often through the year till his health June gave 1898. he married Cynthia Downing of Henry-co., who survives him their three children, Dr. Farnsworth and Miss Lillian Farnsworth of Kansas City, and Mrs. Bonnie Wehmeyer of Urich. He is also survived by six sisters, Mrs. Ida Duck and Mrs. Edna Farnsworth, of Blairstown: Mrs. Helen Fredonia, Mrs. Lou Enid, Okla.: Mrs. LauParkhurst and Mrs. Lucy Parkhurst, Hollywood: and two brothFarnsworth of Blairstown and Farnsworth of Warrensburg. Mr. Farnsworth was not only one of the outstanding men his community but he labored stantly for its betterment Whatbenefitted the church, the school or the neighborhood was fostered by him He was lover of the beautiful and delighted in the flowers and trees. He was convertat the age of fourteen and faithful follower of his Master to the end of his pilgrimage. He was faithful in the various church tivities among which was the day school of which he was superintendent for many years. The silent influence of his godly life will be an inspiration to those behind, and his memory will be cherished by the community those of the family Mrs. Mary Roach died Tuesday Kansas City from stroke paralysis week before. Short neral services arranged at the Goodman Funeral Home today after which the body was to Oak Grove church. north of Warrensburg. where services were and interment made in the adjoining cemetery. Roach had been visiting in the home of Jack Roach when she was She survived by Mrs. of Warrensburg. and three sons. George of Holden. Jack and Jesse Kansas City An obituary tice will be given next week Lancaster received word on Monday of the death of his brothOscar Lancaster early that morning at Los Angeles heart attack was the cause of He aged Of the family of eight. there are left two girls and boys. Deceased was born in Indiana, and at the age of 20 came Cass-co. where he lived fifteen years in the East Lynne vicinity He made the race into Oklahoma in 1890 He was in the banking business in Pawnee for several years, after which he became an extensive oil operator and lived in Tulsa, spending his winters in Cal- Eliza Jane Haines, one of nine children born to James and Anne Haines, was born in Tennessee Dec. 1842. and died Nov. 1931, after four weeks' illness at the home of her son and daughter, and Margaret Wester, near Pittsville, where she had made her home the last few years. In 1868, she was married to A. Wester. who died four years ago. To them were born five all of whom are living: and Margaret of Pittsville, Mrs. Carrie Snare and Mrs. Elizabeth Walker of Kansas City. She is also survived by thirteen and two sisters, Mrs. Snare of Magnolia and Mrs. Missouri Ganson Holden. She joined the church in her girlhood and later, with her husband united with the Baptist church Smyrna. She lived faithful Christian life and her passing is sincerely mourned. The funeral services were conductthe Goodman Funeral Home