Old Trails Bank (Boonville, MO)

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RUN CLOSES BOONVILLE BANK

Institution Organized in May to Takes Over Defunct Organization Closed Doors Thursday.

By ASSOCIATED PRESS Jefferson City, Mo., Nov. 1-The Old Trails Bank, at Boonville, organized May 21, 1928, to take over the bank building of the Farm Trust Company, of Boonville, was closed today by its board of directors following a heavy run yesterday. Notice of the closing was received at the state finance offices today. No reason for the run was known by the bank's officials or finance department officials. The Institution, according to S. L. Cantley, finance commissioner, was in good shape, but the run cleaned out all ready cash. Total resources amounted to $571,800. L. J Mulligan, a state bank examiner, has been directed to take charge. H. A. Creagan was president, H. J. Miller, cashier and Col. T. A Johnston, head of Kemper Military School at Boonville, was chairman of the board of directors. Efforts probably will be made to reopen the institution, it is understood here.

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BOONVILLE BANK ELECT SIDENER AND AFTER RUN CAULFIELD TO SAVE CLOSED DRAINS IT OF CASH JOBS, CRY

State Institution to Shut Doors This YearWill Probably Reopen.

JEFFERSON CITY Nov. (Special. run yesterday that drained it of cash. the Old Trails Bank of Boonville was closed by its board of direcotrs today There was no reason for the run. The bank was organized May 21 last to take over the commercial the Farmers Trust Company of Boonville It the state bank to close this It is believed that the bank will be reorganized and resume business.

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BOONVILLE

Run Institution on Caused The Directors to Act This Morning

The Associated Press. JEFFERSON Mo., Nov. Old Trails Bank at Boonville, organized May 21, 1928, to take the commercial banking bus-i ness of the Farmers Trust Company Boonville, was closed today by its board of directors, following heavy yesterday. Notice the closing received the state finance department today. No reason for the was known run officials of the bank or the finance department. The institution, according to Cantley, finance commissioner, in good shape, the run cleaned out all its ready cash. had total resources $572,800. Mulligan, state bank aminer, has been directed to take charge. Creagan was president, H. Miller, cashier, and Col. Johnston, head of Kemper Military Academy at Boonville chairof the board of directors. Efforts probablp will made to the institution, it is underreopen stood. The bank's last statement showed $445,000 loans, $72,000 bills payable, deposits. had capital and $10,000 surplus.

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OLD TRAILS BANK AT BOON. VILLE CLOSED AFTER RUN

By The Associated Press

JEFFERSON CITY, Mo., Nov. 1.The Old Trails Bank at Boonville. or ganized May 21, 1928. to take over the commercial banking business of the Farmers Trust Company at Boonville, was closed today by its board of directors following a heavy run yes terday. No reason for the run was known by officials of the bank. The institution according to F. L. Cantley finance commissioner was in good shape but the run cleaned out all its ready cash. It had total resources of

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BANK CLOSED TODAY

Run Late Yesterday Causes Action by Directors— May Be Reopened.

CITY, Mo., Nov. Old Trails Bank Boonville organized May 1928. to take of the Farmers' Trust Company of Boonville. closed today by its board of directors, following heavy run yesterday. Notice the closing the state finance department No reason for the run was known by officials bank the finance department. The institution. according to Cantley,

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BOONVILLE

Run on Caused The Directors to Act This Morning Press. JEFFERSON CITY, Mo., Nov. Old Trails Bank Boonville, organized May 1928, to take the commercial banking bus-1 of the Farmers Trust Company Boonville, closed today board directors, following heavy yesterday. Notice of the closing received the state finance department today. reason for the known officials of the bank findepartment. The institution, according to Cantley, finance in good the run cleaned out all its ready had total resources $572,800. Mulligan, state bank aminer, has been directed to take charge. Creagan was president, Miller, cashier, Col. Johnston, head Kemper Military Academy Boonville chairthe board of directors. Efforts probablp be made reopen the institution, it stood. The bank's last statement showed loans, $72,000 bills payable, $439,500 deposits. had capital and $10,000 surplus.

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BOONVILLE, MO., BANK CLOSED AFTER RUN

Old Trails Institution Declared to

Be in Good Shape.

Jefferson City, Mo., November 1.-The Old Trails Bank at Boonville, organized May 21, 1928, to take over the commercial banking business of the Farmers' Trust Company of Boonville, was closed today by the Board of Directors following a heavy run yesterday Notice of the closing was received at the State Finance Department today.

No reason for the run was known by officials of the bank or the Finance Department. The institution, according to S. L. Cantley, Finance Commissioner, was in good shape, but the run cleaned out all its ready eash. 1: had total resources of $572.81 Efforts probably will be made to reopen the institution, it 18 understood. The bank's last state. ment showed $445,000 loans, $72, 000 bills payable, $439,500 deposits. It had $50,000 capital and $10,000 surplus.

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BOONVILLE, MO., BANK CLOSED AFTER RUN

Jefferson City, Mo., Nov. Old Trails Bank at Boonville, organized May 21, 1928, to take over the commercial banking business of the Farmers' Trust Company of Boonville, was closed today by the Board of Directors, following heavy run yesterday. Notice of the closing was received at the State Finance Department today. No reason for the run was known by officials of the bank or the Finance Department. The institution, according to S. L. Cantley, Finance Commissioner, was in good shape, but the run cleaned out all its ready cash. It had total resources of $572. 800. L. J. Munigan, state bank examiner, has been directed to take charge. H. A. Creagen was president, H. Miller, cashier, and Col. T. Johnston, head of Kemper Military Academy at Boonville, was chairman the Board of Directors. Efforts probably will be made to reopen the institution. it is understood. The bank's last statement showed $445,000 loans, $72,000 bills $439,500 deposits. It had payable, $50,000 capital and $10,000 surplus.

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DIRECTOR OF BANK OWN FORTUNE REORGANIZATION

Ool. Johnston of Boonville Advances $200,000 to Reopen Concern.

CHARTER IS GRANTED FOR NEW DEPOSITORY

Kemper Son of Kansas City Banker, President of New Organization.

CITY, Nov. almost his entire personal Johnson, eighty head of Kemper Military given full credit by state nance for the and today the Old Trails Bank Boonville today chartered the Kemper Bank stock, and Old Trails which closed heavy director the financial prestige and put $200,000 Cantley said.

Run Started by Rumors. Directors the Old Trails Bank closed the institution. which had $571,000,000 total resources, after the heavy run. No reason for the known, rumors Loss confidence in the management Cantley said. bank's ready cash cleaned was impossible to keep open. Colonel Johnston, though only director, would not stand for the ultimate result, which would been the fl. nancial stability, the finance said, and came ward his personal fortune the possible. In these days bank Colonel Johnston's action rare, Cantley

Kemper Jr. Heads Bank. William Kemper Kansas son William Kansas City banker Democratic leader Missouri, president Kemper Bank. only official organization in the defunct Old Bank Colonel Johnston, the institution director, the same position he the old. Officers the Old Trails Bank and cashier. had $50,000 capital and surplus.

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JOHNSTON OWN PERSONAL FORTUNE BOONVILLE BANK TO REOPEN

Puts Up $200,000 to Make Possible Reorganization Which Closed Recently After Heavy Run of Mysterious Origin. almost his entire personal Mo., Nov. Military Acadfortune, Col. Johnston, head Kemper Cantley, state finance Boonville, given credit by today of the the re-organization today chartered Old Trails Bank Boonville. the Kemper Bank Boonville, with capital stock, takes over Old Trails Bank, which closed Nov. last, followheavy director in the Old Trails Bank, came forward and put up $200,000 to save the community's financial prestige make re-organization Cantley the institution, which had Old Trails Bank closed total after heavy reason for E. B. run rumors starting Loss confidence in the DIED management, responsible, Cantley ready cash was Known Citizen of Cocleaned and it impossible Well keep open. lumbia Succumbs to ComCol. Johnston, though only director, would stand for the plication of Maladies. ultimate result, which would have the Everett Chandler 68 years financial stability, the finance known citizen of Coand came lumbia for many years, died yesforward with his personal fortune his the terday make re-organization pos1607 Windsor street. complica sible. tion of maladies confined Mr.

In these days of bank failures, Colonel Johnston's action rare, William Kemper, Jr., son Kemper, prominent Kansas banker Demoleader in Missouri, president of Kemper Bank. official from the ganization defunct Old Trails Bank Col. Johnston, who into the new institution the same position held in the old. Officers of the Old Trails Bank president, Miller, cashier. capital and $10,000 surplus.

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FORTUNE TO

COL. JOHNSTON IS GIVEN CREDIT FOR REORGANIZATION OF INSTITUTION.

CITY, Mo., Nov. almost his entire sonal fortune, Colonel Johnston, head of Kemper Military Academy Boonville, is given full credit by Cantley, state bank for the reorganization and reopening of the Trails Bank at Boonville. The Commissioner stated today onel Johnston's action started the Kemper Bank at Boonville with 000 paid up stock and takes the Old Trails Bank. Colonel Johnston, director in the Old Trails Bank came forward and up make the reorganization possible, Cantley said. The Trails Bank, which had in resources, closed heavy run. not known what the cause of the Cantley said. Loss of confidence in the management may have been responsible, according to the Finance Commissioner. Its ready cash cleaned out and impossible to keep open. Colonel Johnston, although only director, would not stand the ultimate result which would have proved heavy blow the community, and came forward with his personal tune to make the reorganization sible. William Kemper, of Kansas City, son of William Kemper, prominent Kansas City banker and Democratic politician, president of the Kemper Bank. The only official from the Trails institution onel Johnston, who comes into institution director, the position he held in the old bank. Creagan president and Miller the tion.

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PRAISES BANK REORGANIZERS

S. L. Cantley Points to Col. Johnston and Dr. W. A. Nelson as Business Examples

Jefferson City, Mo., Dec. 1Modern business competition generally is supposed to be ruthless, but chivalry is not dead in the commercial world, according to S. L. Cantley, state finance commissioner, who points to the reorganization of a broken bank in Boonville for his example. The commissioner already has praised highly Col. T. A. Johnston, eighty-year-old head of Kemper Military Academy at Boonville, for coming forward, as a bank director, and putting up almost his entire personal fortune, more than $200, 000, to reopen and rebuild the defunct Old Trails Bank in the Cooper county city. He now adds that considerable credit should go also to Dr. W. A. Nelson, president of the Boonville National Bank and Democratic nominee for governor in 1924. Dr. Nelson, whose bank is a competitor of the reoragnized Old Trails Bank, which closed after a heavy run recently, was instrumental in bringing about the reorganization of the institution, now known as the Kemper Bank of Boonville. Dr. Nelson persuaded William T. Kemper, Sr., of Kansas City, prominent banker and Democratic state leader, to take an interest in the new institution, Cantley said. William T. Kemper, Jr., his son, heads the new bank. In letter to Dr. Nelson, the commissioner said: "I want to thank you personally and most sincerely for the part you had in bringing about the reopening of the Old Trails Bank and its subsequent acquirement by the Kemper interests of Kansas City. "Few men would have done what you did for the benefit of the community, that is Invite and encourage strong competition with your interests to save others in whom you had only a passing interest, so to speak. It is one of those outstanding deeds of a real man, one who looks to higher and nobler things than sordid gain realized by selfish means. If we had more of your spirit abroad in the state there would be fewer financial troubles and less heartache than we find as It is today."