21289. Farmers & Merchants State Bank (Teague, TX)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 28, 1916
Location
Teague, Texas (31.627, -96.284)

Metadata

Model
gpt-5-mini
Short Digest
01f606c2

Response Measures

None

Description

The bank was closed by state authorities (a closing notice was being posted by the State Banking Commissioner) and a receiver was appointed shortly after. Articles describe the commissioner being shot while posting the closing notice and the subsequent appointment of J. D. (or J. B./J. D. reported) Moore as receiver; no contemporaneous run (heavy withdrawals prior to suspension) is described in the sources provided. OCR variations of the receiver's initials appear across articles (J. B. / J. D. / J. D. Moore); I use J. D. Moore as most articles state that.

Events (4)
1. August 28, 1916 Other
Newspaper Excerpt
Commissioner of Banking Probably Fatally Wounded While Posting Notice of Bank's Failure. ... was shot and probably fatally wounded late to-day in the lobby of the Farmers' and Merchants' Bank here when, it was said, he attempted to post a notice announcing that the bank had been closed.
Source
newspapers
2. August 28, 1916 Suspension
Cause
Government Action
Cause Details
State banking authorities posted a notice closing the bank (state commissioner of insurance and banking posted closing notice).
Newspaper Excerpt
he attempted to post a notice announcing that the bank had been closed.
Source
newspapers
3. August 29, 1916 Receivership
Newspaper Excerpt
Judge George Calhoun of the district court today appointed J. B. Moore of Austin receiver of the Farmers & Merchants' state bank at Teague.
Source
newspapers
4. September 12, 1916 Other
Newspaper Excerpt
When Moore took the stand he said he found no currency in the bank and only $869 in coin. He said the book value of the bank ... and testified that an overplus notes in the bank amounting to $32,000 was not shown on the books.
Source
newspapers

Newspaper Articles (6)
1. August 29, 1916 Richmond Times-Dispatch Richmond, VA
Article from Richmond Times-Dispatch, August 29, 1916

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Article Text

STATE OFFICIAL SHOT Commiasioner of Banking Probably Fatally Wounded While Posting Notice of Bank's Failure. TEAGUE, TEX., August 28.-John S. Patterson, State commissioner of insurance and banking. was shot and probably fatally wounded late to-day in the lobby of the Farmers' and Merchants' Bank here when, it was said. he attempted to post a notice announcing that the bank had been closed. Three shots also were fired at J. E. McKinnon State bank examiner, but none of the bullets took effect. T. R. Watson. president of the bank. and his two sons, J. E. Watson, vicepresident and W. R. Watson, cashier, were arrested in connection with the shooting and charged with assault to murder.

2. August 30, 1916 The Waxahachie Daily Light Waxahachie, TX
Article from The Waxahachie Daily Light, August 30, 1916

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Article Text

THE WATSONS ARE IN JAIL ALLEGED SLAYERS OF JOHN S. PATTERSON ARRESTED AND TAKEN TO FAIRFIED. MURDERIS CHARGED Charges of Murder as the Result of the Death of Patterson Have Been Filed Against the Men. McLennan Claims Custody WACO, Tex., Aug. 30.-Charges of first degree murder have been filed in Freestone and McLennan counties against T. R. Watson, president of the Farmers and Merchants State bank at Teague, and his two sons, Vice President J. E. Watson and Cashier W. R. Watson, as the result of the death last night of John S. Patterson, state commissioner of insurance and banking, who was shot while posting a closing notice on the bank late Monday afternoon. In an ante-mortem statement made by Patterson to Sheriff Burleson he said the elder Watson did the shooting. The three Watsons were taken to Fairfield in an auto and placed in jail. Popular feeling is high at Teague. McLennan. county officers have protested against the taking of the Watsons to Fairfield and court action may be necessary to determine the rival counties' claims for the eustody of the men. J. D. Moore, an Austin attorney, who was appointed receiver of the bank, was accompanied to Teague last, night by Capt. E. H. Smith and Carl Cardwell of the Texas Rangers.

3. August 30, 1916 Pine Bluff Daily Graphic Pine Bluff, AR
Article from Pine Bluff Daily Graphic, August 30, 1916

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Article Text

Rangers With Receiver. Austin, Tex., Aug. 29-Judge George Calhoun of the district court today appointed J. B. Moore of Austin receiver of the Farmerç & Merchants' state bank at Teague. Governor Ferguson ordered two members of the Texas ranger force to accompany Judge Moore to Teague, where the state bank commissioner was shot yesterday by President Watson of the bank.

4. August 31, 1916 Tulsa Daily World Tulsa, OK
Article from Tulsa Daily World, August 31, 1916

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Article Text

COMMISSIONER DIES OF BULLET WOUNDS WAS SHOT BY BANK PRESIDENT AS HE POSTED BULLETIN TELLING OF CLOSING. J. D. Moore of Ausin Appointed Receiver of Institution After Death. WACO, Aug. 30.-State Banking Commissioner John S. Patterson. who was shot yesterday at Teague, Texas, while posting a notice closing the Farmers & Merchants bank at that place, died in a hospital here at 8 o'clock tonight. T. R. Watson, president of the bank, and his two sons, J. E. and W. R. Watson, were released on bond today awaiting the outcome of Patterson's wounds. Patterson was brought here today on a special train. AUSTIN, Texas, Aug. 29.-Judge George Calhoun of the Fifty-third district court today appointed J. D. Moore of Austin receiver for the Farmers & Merchants State bank of Teague, the institution in which State Banking Commissioner John S. Patterson was shot and fatally wounded yesterday. Governor Ferguson ordered Ranger Captair E. H. Smith and Ranger Carl Cardwell to accompany Moore to Teague to take charge of the bank's affairs.

5. September 12, 1916 The Waxahachie Daily Light Waxahachie, TX
Article from The Waxahachie Daily Light, September 12, 1916

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Article Text

WACO, Texas, Sept. 12.-J. D. Moore of Austin, receiver of the Farmers' and Merchants' State Bank at Teague, the closing of which led to the shooting and killing of State Bank Commissioner John S. Patterson, today testified that an overplus notes in the bank amounting to $32,000 was not shown on the books. He said people were constantly coming to the bank and disclaiming signatures. Moore's testimony was offered in the habeas corpus proceedings of T. R. Watson, president of the bank, who is charged jointly with his two sons with the killing of Patterson. Watson is seeking release from jail under bail. When Moore took the stand he said he found no currency in the bank and only $869 in coin. He said the "book value" of the bank S

6. September 12, 1916 The Chickasha Daily Express Chickasha, OK
Article from The Chickasha Daily Express, September 12, 1916

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Article Text

W NORTHLESS NOTES IN TEAGUE BANK Rotten State of Affairs Found in Alleged Murderers Bank With Debtors Disclaiming Obligations By United Press. Waco, Tex., Sept. 12.-J. D. Moore, receiver of the Farmers and Merchants State bank at Teague, the closing of which led to the shooting of Bank Commissioner Patterson, testified today to over-plus notes in the bank amounting to $32,000, not shown on the books. He said people were constantly disclaiming signatures and he was unable to tell what notes were good. Moore's testimony was offered in the habeas' corpus hearing of T. R. Watson, president of the bank, jointly charged with his two sons with the killing of Patterson. Watson is seeking release on bail. When he took charge of the bank Moore said he found no currency and only $869 in coin. He said a book value of $287,706.87 cents was found but he did not know the actual value.