10897. Farmers Savings Bank (West Plains, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
savings bank
Start Date
February 2, 1931
Location
West Plains, Missouri (36.728, -91.852)

Metadata

Model
gpt-5-mini
Short Digest
f498c47a

Response Measures

None

Description

Newspaper articles (Feb 2, 1931) report the Farmers Savings Bank of West Plains was closed by its board of directors and the state finance department/examiner was assigned to take charge. No run is mentioned; closure appears administrative/suspension with examiner taking charge (effectively a closure/receivership).

Events (2)

1. February 2, 1931 Receivership
Newspaper Excerpt
Truman Richards, state bank examiner, has been assigned to take charge.
Source
newspapers
2. February 2, 1931 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Board closed bank; balance-sheet items reported (capital, loans, deposits, bills payable) suggesting financial weakness/illiquid assets leading to closure.
Newspaper Excerpt
Bank Closes West Plains. Mo. Feb. Farmers Savings Bank of West Plains, Howell was closed today its board of directors, the state finance department was notified.
Source
newspapers

Newspaper Articles (2)

Article from Springfield Leader and Press, February 2, 1931

Click image to open full size in new tab

Article Text

SMA! HOWELL COUNTY BANK IS SUSPENDED JEFFERSON CITY Feb AP The Farmers Savings bank West Plains in Howell county was closed today by its of direcAccording to the statement it had capital and bills West Plains has two exceptionally strong banks the First National and the West Plains bankwith combined resources of more than two million dollars Henry S. Caulfield would not be disposed to veto The execu- tive is said to be a friend of home rule himself Foes of the bill realize that on are not as influential as they used to be They looking weapon They select powerful hints they let are true Their plan is upon the "red flag prohibition and the are bone comes to voting will Appeal to State Drys Home plan to the proposal on the ground that KanCity police are placed of the bosses there city will become brothels flourishing This argument would mighty powerful with the outBut the home rule opponents plan to their argument an stronger kick They plan go dry organizations not only in Kansas City but all over the for They will picture Kansas City becoming one of the wettest cities in the middle west Then the action start the bill's foes Such organizations the W would flood the legislature with resolutions demandthat the measure be defeated Look where that would put the dry rural democrats If they voted for the measure they would be branded AS enemies of prohibition That Boss bill might be defeated after Might Ruin Demo Hopes an might be somewhat tragic for Missouri democracy The friendly feeling being built up between the Kansas City machine and the rural democrats would be strained and the campaign of 1932 find factional strife still playing its


Article from Columbia Daily Tribune, February 2, 1931

Click image to open full size in new tab

Article Text

CAMERON TRUST COMPANY CLOSES Officers Await Arrival of State Finance Department Representative Cameron Trust Company closed for business today, while officers awaited the arrival representative of the state finance department to take charge of its The institution was closed by action of the board directors taken Saturday secresaid failure coi lect "slow loans" led to the rectors' action Cotty is president of the company. Bank Closes West Plains. Mo. Feb. Farmers Savings Bank of West Plains, Howell was closed today its board of directors, the state finance department was notified. According to the bank's last statement had $120,000 capital loans: $70,840 deposits and $22,000 bills payable. Armstrong president Truman Richards, state bank examiner, has been assigned to take charge.