10860. Sturgeon Bank (Sturgeon, MO)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
December 16, 1930
Location
Sturgeon, Missouri (39.234, -92.281)

Metadata

Model
gpt-5-mini
Short Digest
c50549b2

Response Measures

Full suspension

Description

Articles (Dec 18, 1930) describe a run that began earlier in the week, deposits rapidly withdrawn after a prior merger, the bank closing its door and turning affairs over to the state finance commissioner. No reopening is mentioned; closure/turnover to commissioner implies permanent suspension/receivership outcome.

Events (3)

1. December 16, 1930 Run
Cause
Bank Specific Adverse Info
Cause Details
Deposits fell after the Sturgeon Bank merged with the Citizens Bank of Sturgeon in April; customers became scared and rapidly withdrew deposits, triggering a run.
Measures
Bank officials attempted to secure a $30,000 loan from Columbia banks; when the run started they closed the front door and later turned affairs over to the state finance commissioner.
Newspaper Excerpt
when run started on the bank on Tuesday ... deposits dropped off at once $100,000 Customers got scared and drew out their deposits.
Source
newspapers
2. December 16, 1930 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Following heavy withdrawals from the run and inability to obtain sufficient emergency funds, the bank closed and placed affairs with the state finance commissioner.
Newspaper Excerpt
the only sensible thing they could do-closed the front door and turned things over the state finance commissioner.
Source
newspapers
3. * Other
Newspaper Excerpt
Stockholders of the bank will probably lose every dollar they put into this financial ... another bank be organized in Sturgeon for one but with present conditions be months before can be done.
Source
newspapers

Newspaper Articles (2)

Article from The Centralia Courier, December 18, 1930

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Article Text

Highways in many time virtually all except railroads. was abandoned until Spring. concrete there seldom but hours delay following severe snow storm. With all the advantages roads there little written or spoken the of is to be granted that conditions perfect with all the difficulties the great improvement should be appreciated least the extent some favorable There are road reckless drivers and the menace and bus but there is transportation the day night The long trip to town the in wagon, possible to get through, now made few minutes in heated sedan. doctor within an hour of the most isolated farm. Winter longer no season of being shut in. It has lost its horrors improved portation has surmounted the difficulties which once caused it to be dreaded. Try to imagine winter without really want to know just how much appreciate them They have become much part that are they taken with matter of fact attitude. Omar D. Gray at the accorded reception am managing The advertisers been most liberal in extending With four days to work on the first issues, the papers carried 600 inches of paid advertising. Last figured 800 inches, or 11,200 agate lines. Of best season of the get year dozen big advertisers are thinking making contracts year's coverage and this are getting our share of legal advertisements. cribers over the country are taking advantage special subscription rates to push up their tion dates. We do no work. We generous from advertising to make enough money can bills. We pay our preparing the Year with an ambition to country in Missouri when and properly believe opportunity placing our newspapers homes county. That's what wide circulation. like will ours. You scandal no sensationalism. Just remember the homes where the parents the family right and these three manage omit news which not around to all this county before around want to meet the people County hope to attend your family sales. like to people like the people. alarm clock for o'clock Friday tuned my automobile, and bright rays in the east Sturgeon at 6:30 o'clock and minutes. Columbia picked up Booth We loaded my car about thousand copies papers am managing and in talking Wilcox, editor Ashland Bugle Ashland. arranged with friend Wilcox have young men place of the copy Statesman in home every in At the business men and left bundle be given out to farmers in that locality. At ham. Claysville, Easley and Hartsburg arranged papers in the homes in those sections editor the Hartsburg banker Busch his and had good chat with the Dr. Charles who is great friend had pleasant indeed down in the southeast portion of the county back in Columbia before afternoon arranged to have 2000 papers delivered homes in and near Columbia, called on men in Columbia and went to see matinee Missouri Theater. took time off while car washed and when reached Sturgeon thought had put in full day. From Ashland Hartsburg journeyed for the first time over the road built in Boone County. certainly investment and in five going be proud of the county the general public knew how hard directors, and stockholders of the Sturgeon for the past months to try and that closing they would not say unkind words men. Stockholders of the bank will probably lose dollar they into this financial put institution to possible for Sturgeon to have this bank. The geon Bank merged with the Citizens Bank of April and deposits dropped off once Customers got scared and drew out their bank was promised loan by Columbia banks when run started on the bank on Tuesday $30,000 would not have helped out and charge affairs did the only sensible thing could do-closed the front door and turned things state finance commissioner. You me saying unkind words about this bank or the men conducted thank them personally for hundreds of favors not only to me but most everyone entitled credit in this section. In all Missouri more capable set of bank And They did not steal anything another bank be organized in Sturgeon for one but with present conditions be may this can done. had the other day from Jonas Graves taking my Sturgeon Leader for forty He kindly smile and much hope. farmer and has had lot of hard knocks cannot knock him down so he will down. stay joy number such men as friend Graves friend first of the year paper likely All these visited Sturgeon closing the be paid for funds. And money falls on another come out day sooner should have their letters in occasions. the Boone County National week. Learning that because Bank, Sturgeon teachers December, volunteered to furnish public school teachers this month bootlegger continue to to outpay the government The only man will allow him a cop and his wife. Some men have words with their but no tunity to think know about the true newspapers. been in the game more than years. read average of four papers week been in the majority of newspaper offices souri. personally acquainted with nine-enths the newspaper owners of Missouri. get to see most daily papers this state. do not know city the size Columbia which has two daily papers well edited printed as the daily papers in Columbia Tribune, mostly that prince of good fellows, Edward Watson, and The Columbia which the laboratory of School Journalism in the Missouri game of hard work from early morning to late Ed Watson knows the game. He one Hollis Every excellent school world. now earnest majority long and made know the half day and come in be


Article from Sturgeon Missouri Leader, December 18, 1930

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Article Text

The Burden little fairness in the present tax system. nation's basic industry, is being taxed the other economic interest. than burden borne by American farmers tax In states the than dollars yearly. many week to meet his tax bill two days the of his family. Farmers four days for support than four times as much as in taxes more one-half times as much for seed, and one-half times the for fertilizer, and one In addition to the for all farm improvements. must also pay direct tax, the farmer property and and indirect taxes automobiles gasoline, tobacco tax, and excise through the net income has been the farmer's Although burden has steadily in1914, his tax since Missouri has depreciated in 1914 property in taxes have increased than 40 per cent, yet 6500 farms in Missouri were cent. More than and the 1930 number is increasing. taxes in Four banks have closed banks are closing. the past Wealth has County alone during year. property to intangible property, from tangible bonds. More than 80 per cent of stocks, and wealth today lies in this intangible proppresent system of with because the federal taxes, 90 per cent of all taxes exception of on land, houses, and lots. in Missouri are suffering from the inschools of the system. stated by Prof. H. Hamnearly 1000 school districts of the state are on year or less. He cited the situaJackson County, where Kansas City pays of cents on each $100 valuation, while tax rate rural districts of the county the rate in some reaches as much as per $100 valuation. The State Survey reports presents plan tax equalization, which class for tax cents per valuation to bring school funds of district to $900 annually for primary schools up annually for secondary schools, when comwith the sums now raised in the districts. In the commission's proposals, several bills have drafted for presentation at the next Missouri session. One bill would bring educational equalization by reducing general property taxes in districts an aggregate of $100,000,000 during year period and increasing intangible property and corporation franchise) taxes approximately during the same period. measure would superimpose on the present tax rate of cent an additional tax of with percentage reduction in various steps. proposal would attempt to fix standards schools. By these measures it is hoped that for Missouri rural sections may be brought about. opposition is coming from the metropolitan where much of the intangible wealth is certainly vital that some action be taken toward equalization and relief for the Missouri farmer. It for the state legislature to take the first steps action. Increased Food Consumption bulletin issued by the American Research Founan interesting fact was disclosed the and kinds of food consumed by the average of 1930 and that of 1900. Today the average consumes 150 pounds more foor than annually 30 years ago. The variety of the food, the finds, consists of fats, of more sugar, fruits, milk, products. per capita consumption of sugar is estimated about 105 pounds for 1930, compared to 61 pounds capita in 1900. Fats and oils will average about capita this year compared with 34 generaMilk products consumption has increased from pounds to 1040 pounds, and fresh fruits from 169 to pounds. "Meat consumption has shown very little variation, from 142 pounds to 145 year person. "Figuring the increase with the decline, the average capita food consumption gain of 150 pounds in the last thirty years." increasing preference for and heat energy profoods evident in the modern American diet largely supplies energy while fats are necessary heat and power for the body. meat, and cream, dozen other items on menu have high fat content. The exceptional fats that in addition to supplying energy, digestion by the palatability of the the average meal. report seems disproves the idea usually held layman that the American today has given food in his daily menu and instead the rich spicy kind. Highways in Winter many years at this time of the year all travel, except on railroads, was abandoned Spring. Now with concrete highways, there but few hours delay following severe snow With all the advantages of new roads there written spoken except in the way of complaint be granted that conditions are not perfect but the difficulties seems as the great improveshould be appreciated at least to the extent favorable comment. There are road hogs, reckless and the menace in trusk and bus there transportation hour of the any day long trip to town in the wagon, it were possible through, now made in few minutes sedan. A doctor within an hour of the most farm. Winter no longer of season has lost its horrors improved transhas surmounted the difficulties which once be dreaded. imagine winter without Eighways, if you to know just how much them you appreciate much part of that they are matter of fact attitude. Omar D. Sees Gray am delighted at reception accorded the three managing. advertisers weekly newspapers am most liberal in extending patronage. With only four days to work on the first issues, the three papers carried 600 inches of paid advertising. Last week figured 800 inches, or 11,200 agate lines. Of course this the best season of the to get ads, but year dozen big advertisers are thinking of making contracts for and this is what counts. us year's coverage, We our share of legal advertisements. Subare getting scribers all the country are taking advantage our special subscription rates to push up subscription dates. We do no job work. We must get generous patronage from advertising to make enough our bills. We are to money we can pay Year with an ambition to print the best into the New in Missouri and when we get going good country papers believe will have the and get organized properly opportunity of placing our newspapers in most of the homes of the county. That's what we are striving for-county wide circulation. If you like clean newspapers you will like ours. You will not get much scandal and no sensationalism. Just remember our papers go into the homes where the parents are trying to bring up the family right and these three papers manage will omit news which is not fit to print. will around to all this county before another year get rolls around and want to meet all the people of Boone County. hope to attend your family gatherings, nics, sales, etc. like to meet people. was born in the county. like the people. set my alarm clock for o'clock last Friday morntuned up my automobile, and with the sun just showing its bright rays in the east by reflection pulled out Sturgeon at 6:30 o'clock and was in Columbia in minutes. In Columbia picked up H. Booth, my hustling advertising co-worker. We loaded up the back end car with about thousand copies of the three my papers am managing and in forty-five minutes we were talking to Wilcox, editor of the Ashland Bugle, at Ashland. arranged with friend Wilcox to have some young men place copy of the HeraldStatesman in every home in Ashland. At Deer Park met the business men and left bundle of papers to be given out farmers in that locality. At Oldham, Claysville, Easley and Hartsburg arranged put papers in the homes in those sections. saw the new editor of the Hartsburg Truth, banker Busch and his son and had good chat with the town's only doctor, Dr. Charles McGee, who great friend of my friend, Dr. R. McComas. had pleasant visit indeed down the southeast portion of the county and was back in Columbia before two In the afternoon arranged have 2000 papers delivered homes in and near Columbia, called on twelve business men in Columbia and went to see matinee at the Missouri Theater. took Little time off while had my car washed and when reached Sturgeon at thought had put in full day. From Ashland Hartsburg journeyed for the first time over the first farm-to-market road built in Boone County. It was certainly investment and in five years we are going to be proud of the roads in this county. If the general public knew how hard the officers, directors, and stockholders of the Sturgeon bank worked for the past months try and save that bank from closing they would not say unkind words about these men. Stockholders of the bank will probably lose every dollar they put into this financial to make possible for Sturgeon have this bank. The Sturgeon Bank merged the Citizens Bank of Sturgeon last April and deposits dropped off at once $100,000 Customers got scared and drew out their deposits. The bank was promised loan by Columbia banks of $30,000 but when run started on the bank on Tuesday of last $30,000 would not have helped out and the men charge of affairs did the only sensible thing they could do-closed the front door turned things over the state finance commissioner. will not catch saying unkind words about this bank the men who conducted thank them personally for hundreds favors not only to me but most entitled credit in this section. In all Missouri you will not find more capable set of bank officials. And they are square, too. They did not hope another bank can be organized in Sturgeon for needs one but with conditions present be months before can be done. had call the other day from Jonas Graves been taking my Sturgeon Leader for forty years. He still has kindly smile and much hope. He farmer and he has had of hard knocks but cannot knock him down he will down. count joy to number such men as friend Graves As next Thursday comes on Christmas Day, first of the year falls on another Thursday, this paper will likely come out day sooner All correspondents should have their letters in earlier on these occasions. Spencer of the Boone County National Bank visited Sturgeon last Learning that because closing of the Sturgeon Bank, Sturgeon teachers would not paid for December, volunteered to furnish funds. And Sturgeon public school teachers money to spend this month. The bootlegger will continue to outwit the government long as he continues to outpay the government. The only two people man will allow to talk him are cop and his wife. Some men have words with their but no opportunity to use them. think I know something about the value newspapers. have been in the more than game years. average four papers week. been in the majority of newspaper offices souri. am personally acquainted with nine-enths the newspaper owners Missouri. to get see most the daily papers in this state. not know the size of Columbia which has two papers well edited and printed as the two daily papers Columbia Tribune, mostly owned that prince of good fellows, Edward Watson, and The Columbia which is the laboratory of the School Journalism the Missouri University. game of hard work from early morning late night. Ed Watson knows the game. He one