Bank of Sweet Springs - Sweet Springs, MO

Bank Information

Episode Type: Run → Suspension → Reopening
Bank Type: state
Start Date: November 12, 1931
Location: Sweet Springs, Missouri (38.964, -93.415)

Metadata

Model: gpt-5-mini
Short Digest: 59eea0fc

Response Measures

Full suspension

Other: Bank closed by its board and placed 'in the hands of finance' (likely temporary suspension/turnover to financial agents).

Description

Articles (Nov 12-13, 1931) report 'constant withdrawals' and that the bank was 'closed ... by its board of directors and placed in the hands [of] finance' (suspension). A subsequent local report says the bank 'to open Thursday morning, holiday Armistice Day' and other coverage describes customers returning and business returning to normal — consistent with a suspension caused by a depositor run that was followed by reopening. OCR errors in Article 1 ('Sa. County', 'finance') were corrected to Saline County and placed in the hands of finance/board.

Events (3)

1. November 12, 1931 Run

Cause Details: Sustained/constant withdrawals by depositors (panic/run); no specific rumor or single misinformation event identified.
Measures: Bank directors closed the bank and placed it in hands of finance/board; Chemical Bank handled extra work for community.
Newspaper Excerpt: Constant withdrawals were blamed.
Source: newspapers

2. November 12, 1931 Suspension

Cause Details: Board-ordered closure due to heavy/constant withdrawals; bank suspended operations and was placed under supervisory/financial control (hands of finance/board).
Newspaper Excerpt: The Bank Sweet Springs ... was closed today by its board of directors and placed in the hands [of] finance.
Source: newspapers

3. November 13, 1931 Reopening

Newspaper Excerpt: The Bank of Sweet Springs to open Thursday morning, holiday Armistice Day. ... The closing caused little excitement ... most either gone coming back every day, and there reason business should right normal way . . . should rally to their banks and on deposit should money which absolutely except for the usual necessary business. further trouble expected here however. (paraphrased in paper).
Source: newspapers

Newspaper Articles (4)

1. November 12, 1931 The Kansas City Star Kansas City, MO

Article from The Kansas City Star, November 12, 1931

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Article Text

OIL LEADERS NOT WORRIED. Texas Suit Means Nothing. Institute Men Associated CHICAGO, Nov. ouster suits brought against fifteen oil companies and two petroleum associations by the attorney general of Texas were of lit tle importance. officers of the American Patroleum Institute. one of the defendant associations, said today. "They don't amount to hill of beans," Amos Beaty New York, newly elected president. asserted ouster suits should have been filed against they should been against the federal trade commission, which has approved our keting said ser Tulsa, retiring president "We have been not only baptized but confirmed by the trade Beaty said the suit filed today in Austin might appear but that doesn't anything soon die He also asserted the practices which apparently had brought about the action were fully approved by the federal commission. Harry Sinclair. chairman of the board of the Sinclair Consolidated Oil litical and the actual trade situation in Texas, we do not take the ouster suit and we not believe other oil companies not reasonable to believe that fifteen oil companies would be engaged in violation of the antitrust Bank of Sweet Springs Closed. The Bank Sweet Springs, in Sa. County, with total of closed today by its board directors and placed in the hands finance Constant withdrawals were blamed.

2. November 13, 1931 The Slater News-Rustler Slater, MO

Article from The Slater News-Rustler, November 13, 1931

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Article Text

BANK CLOSED The Bank of Sweet Springs, locatSweet Springs was closed Thurs day by order of ts board of directThe last statement of the bank September 18, showed capital stock $50,000, surplus $3,700, undivided profits, $41.64, checking deposits $96, 000, time and saving deposits 000 and bills payable $20,000.

3. November 13, 1931 Sweet Springs Herald Sweet Springs, MO

Article from Sweet Springs Herald, November 13, 1931

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Article Text

The Central Missouri Telephone Co. and Ozark Distributing Co. Make Changes Two public utilities serving Sweet Springs have made important affecting here. Central Telephone Company, which bought the Sweet Springs three years and which sidiary the Company, head 714 West Tenth Street, California, instead of Angeles, The Ozark Distributing Company, subsidiary of Cities Service Compay, which supplies natural taken Sweet Springs, Emma, Concordia, Alma Blackburn from the Carrollton has added Warrensburg territory. All plies appliances and fittings from there, will monthly bills. Coleman the clerk, and Ralph Barker the store keeper. NAILED The Elsner's store has to the rumor that chants of Sweet Springs not cut prices of merchandise as have other places, and are afraid to advertise their prices the paper. These rumors, which been rather persistent especially the past months, and which furnished cuse for many made of town, received blow when Elsner's advertised their price and placed dependable merchandise sale its actual value. sale comes opportune time, and drawing good crowds. THE BANK OF SWEET SPRINGS The Bank Sweet Springs to open Thursday morning, holiday Armistice Day. Just will sent look after bank's affairs not been learned. The closing caused little excitement, there Chemical Bank, which considered of the strongest in Central Missouri. Saline county has been especially hard the banks have been stand the strain. The should rally to the their and on deposit should money which absolutely except for the usual necessary iness. further trouble pected here however.

4. November 20, 1931 Sweet Springs Herald Sweet Springs, MO

Article from Sweet Springs Herald, November 20, 1931

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Article Text

Closing of Bank of Springs Allowed Interfere General Activities The closing hour of the Chemical Bank has been changed from five o'clock to four, the change being made necessary the extra amount being done there since closing of the Bank Sweet Springs Thursday of week. There much work done force pelled work until late the evening, necessary clean each day and be ready for the day to Mr. Wall, cashier the bank, states there has been bank and while doubt few timid have drawn their savings, most either gone coming back every day, and there reason business should right normal way. fact that there ganized on the bank, especially since banks the city closed, in the past several months, shows the wide confidence the community in general has only remaining institution, confidence which doubt helped to large extent standing bankcircles generally such that unlimited money could be obtained few notice, should need arise. large city banks make statements unsolicited, there reason for depositors be Not does the Chemical Bank great credit for the confidence management gained for the community, the people the community whole should their strong business judgment common displayed time when little thing might rupted whole business fabric and sent the community panic. To the credit the people such action at any time suggested, and some had depositing their savings, have taken them the bank. there effects business any that business men have redoubled their efforts keep moving keel, and that these efforts have been successful must be mitted. Conditions that have caused the closing of and be hoped that the depositors small, any. should lend hand restoring support their banking to the fullest extent, that their their communities may be fully maintained.