20145. Peoples Bank (Moorcroft, WY)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
November 1, 1921*
Location
Moorcroft, Wyoming (44.263, -104.950)

Metadata

Model
gpt-5-mini
Short Digest
65062fe7ce14d16a

Response Measures

None

Description

Newspapers report a run that forced the Peoples Bank of Moorcroft to close in Nov 1921 (paper says bank was in excellent condition but failed due to heavy withdrawals). By Mar 1923 a court had instructed the receiver to sell remaining assets, indicating permanent closure/receivership. OCR shows minor possessive variations (People's/Peoples).

Events (3)
1. November 1, 1921* Run
Cause
Rumor Or Misinformation
Cause Details
Rapid withdrawals over ~10 days ($24,000) produced a loss of confidence; article implies panic/rum rather than intrinsic insolvency.
Newspaper Excerpt
the Moorcroft bank was in excellent condition at the time of suspension: the cause of its failure was a run on the bank. In a period of ten days $24,000 was drawn out, the reserve dwindling to less than 7 per cent.
Source
newspapers
2. November 1, 1921* Suspension
Cause
Rumor Or Misinformation
Cause Details
Bank suspended operations after the run and reserve fell below 7%; article indicates suspension followed heavy withdrawals.
Newspaper Excerpt
Peoples Bank of Moorcroft both closed their doors last week ... the Moorcroft bank was in excellent condition at the time of suspension
Source
newspapers
3. March 14, 1923 Receivership
Newspaper Excerpt
the court has instructed the receiver of the People's Bank to close out the remaining assets of the institution at public sale on March 24.
Source
newspapers

Newspaper Articles (2)
1. November 11, 1921 The Powder River County Examiner and the Broadus Independent Broadus, MT
Article from The Powder River County Examiner and the Broadus Independent, November 11, 1921

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Article Text

PEOPLES BANK OF MOORCROFT FAILS The Citizens State Bank of Upton and the Peoples Bank of Moorcroft both closed their doors last week, says the News: Acording to the in. formation given out, the Moorcroft bank was in excellent condition at the time of suspension: the cause of its failure was a run on the bank. In a period of ten days $24,000 was drawn out, the reserve dwindling to less than 7 per cent. In all probability the bank will be opened in the near future as Moorereft has no bank at all just now. Confidence is what is most needed in the future business outlook of the country; with confidence, we are told, the second bank failure in Mocreroft could have been avoided.

2. March 14, 1923 Casper Daily Tribune Casper, WY
Article from Casper Daily Tribune, March 14, 1923

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Article Text

LIVE NEWS from WYOMING Items and Articles About Men and Events Throughout the State Extensive ImproveTo Sell Assets Elk are Faring Well ments MOORCROFT-The court has in KEMMERER-Bruce Nowlin restructed the receiver of the People's turning a trip over the big ROCK SPRINGS - Quite an exBank to close out the remaining as. game country reports that the elk ensive building program has been sets of the institution at public sale are In better condition to survive the rranged by the Megeath Coal com. on March 24. Those concerned are winter than in any previous season any of this city, the work to start of the opinion that they have been to his knowledge. bout April 1 badly stung and desire to discover According to Nowlin. there are in A new 2.000-ton tipple will be just how badly. With the assets the neighborhood of 5,000 elk on the uilt to replace the one now in use closed out, the way will be clear to Grovont above Kelly to the head which has a capacity of 1,000 tons. demand an assessment of stockholdof Squaw and Fish creek. The The new tipple will be equipped with ers liability. Up to the present time snowfall up in that district is ligher re-screening plant to separate the no one connected with the banks has by 10 inches than in Jackson valley arious domestic sizes of coal. The accknowledged any liability, but it proper. Between 4,500 and 5,000 pple alone will cost over $25,000, may be possible they might do 80 head of elk are being fed on the fee() nd will be complete in every way. rather than face a worse alternaground on the Grismer ranch in "his one improyement will double the tive. South Park. The South Park feed apacity of the mine and insure 100