3551. Farmers & Traders State Bank (Leon, IA)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
August 1, 1893*
Location
Leon, Iowa (40.740, -93.748)

Metadata

Model
gpt-5-mini
Short Digest
d00f237d

Response Measures

None

Description

Articles (1918) recount an event twenty-five years ago (circa 1893) reporting the bank posted a notice that it had assigned to T. S. Arnold because it was unable to collect outstanding notes. This indicates a suspension/assignment and effective failure with a receiver; no run on this specific bank is described (a run is mentioned only on the Exchange Bank). Date is approximate (1893) based on twenty-five years ago reference in 1918 articles.

Events (2)

1. August 1, 1893* Receivership
Newspaper Excerpt
the bank had assigned to T. S. Arnold, with whom all business should be transacted. The assets scheduled in the assignment are given at $471,780.22, and the liabilities at $315,914.58, leaving a surplus of $155,865.64.
Source
newspapers
2. August 1, 1893* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank was unable to collect outstanding notes, leading to assignment to T. S. Arnold (effectively suspension/closure).
Newspaper Excerpt
a notice was posted on the door of the Farmers & Traders Bank announcing that on account of being unable to collect outstanding notes, the bank had assigned to T. S. Arnold
Source
newspapers

Newspaper Articles (2)

Article from The Leon Reporter, August 8, 1918

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Article Text

TWENTYFIVE YEARS AGO Items Taken from the Files of The Reporter Published a Quarter of a Century Ago. Thomas Teale has purchased the residence property of Mrs. H. J. Close, the price being $1,500. H. C. Stanton, who has been running a photograph car at Decatur, has been languishing in jail since last Thursday, when he was arrested by deputy sheriff Sanger on a warrant charging him with the crime of bigamy Last December Stanton married Miss Eva Beck, of Burrell township, and it is claimed he had a wife living at Bethany, Mo., from whom he had never been divorced, and she came here and had a warrant issued for his arrest. His second wife has commenced an action in the district court praying that her marriage to Stanton be annulled on the ground that at the time it was entered into Stanton had another wife. Wife No. one yesterday swore out a warrant charging wife No. two with adultery and she was placed under arrest, and held under bonds to appear at a preliminary examintion before Justice Bullock next Wednesday. Sells Bros. circus exhibited in Leon last Fridav to the greatest circus crowd ever seen in Leon. Saturday morning a few minutes before 9 o'clock a notice was posted on th door of the Farmers & Traders Bank. announcing that on account of being unable to collect outstanding notes, the bank had assigned to T. S. Arnold, with whom all business should be transacted. In a few minutes the startling news spread over town and a large crowd collected around the entrance to the bank, and for a time great excitement prevailed, until it was made known what the assts and bilities were, for no one had dreamed that the bank was pushed. The assets scheduled in the assignment are given at $471,780 22, and the liabilities at $315,914.58, leaving a surplus of $155,865.64. The failure is a great misfortune to the community, involving as it does the banks at Garden Grove and Davis City, and affects business in all branches, although it is thought that with proper management every one will receive all that is due them. A run was started on the Exchange Bank, but all demands were promptly met, and when the depositors found they could get their money a great many of them went away without drawing it Misses Emma and Nora Hamilton returned Monday from St. Johns, Wash where they had been visiting for several months. Dr. H. R. Layton is representing Hesperia Lodge No. 33, K. of P. at the K. of P. grand lodge at Muscatine this week The following marriage licenses were issued the past week: Clarence Brenizer 20 to Lue Evans 19. S. C. Byrum 21 to Carrie Sifer 21. Abraham M. Hammond 34 to Effie McKern 22 E. W. Tift, of Blythedale, Mo., was in this vicinity the past week visiting his old friends and looking after his property. Miss Lelia Osborn returned Thursday from a visit with friends at Council Bluffs. Mrs. Wm. V. Waller died at her home in Palmer, Neb., July 31st. Her remains were brought to her home at Decatur for interment. Mrs. Waller was 40 years old, and is survived by her husband, a son and a daughter.


Article from The Leon Reporter, August 15, 1918

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Article Text

TWENTYFIVE YEARS AGO Items Taken from the Files of The Reporter Published a Quarter 01 a Century Ago. Thomas G. Ryan and Mrs. Nelle Rice, both of Decatur, were married by Rev. Thomas Waller at the home of S. A. Gates in Leon on Aug. 15th. John M. Dailey and Miss Lottie McGrew were married at the M. E. parsonage Tuesday evening by Rev. Hohansheldt. I. M. Fry and Miss Mary A. Grove were married at the residence of John Woodmansee in Leon Tuesday, August 15th, by Elder Ebert of the Christian church. The New York horse buyer who has been in Leon a couple of weeks, has had a harrowing experience. In the first place he had his money to buy a car of horses deposited in the Farmers & Traders Bank when it suspended. He telegraphed home for more money and ordered it sent to him direct, saying he had done with to do. money town all the he business proposed banks The in this came Tuesday afternoon, and he was the depot to get it. The express turned over to a agent at him and bag $700 con- in taining $1,000 in silver gold, the whole weighing nearly 100 pounds. He had to hire a dray to it town and was very to it in the haul put up Exchange time Bank. glad He was also caught a short ago in a Colorado bank failure for about $2,000. The following marriage licenses were issued the past week: Samuel M. Sidders 24 to Edna A. Shelden 17. Thos. G. Ryan 48 to Mrs. Mary Rice 33. I. M. Fry 24 to Mary A. Grove 25. J. M. Dailey 25 to Lottie McGrew 21. Mrs. Ross Sanders and daughters started yesterday for Salt Lake City, Utah, to visit Mrs. Sanders' mother, whom she had not seen since she was fourteen years of age. Mrs. Charles Carroll and daughter Miss Minnie started yesterday for Salt Lake Citv, Utah, where they will visit for several months with relatives. N. W. Lawhorn, of Salina, Kansas, an old Leon boy, spent the day very pleasantly with acquaintances in this city last Thursday. Fred Niece took Creed Bobbitt's phonograph to New Hampton, Mo., Tuesday to do business at the big harvest picnic held there. T. B. McCready departed for Wellington, Kansas, Mondav to take charge of a steam riding gallery he is interested in. A. Hildreth, of Columbus, Ohio, came in yesterday to look after his property here Robert Shular, of Chariton. is visiting in Leon, the guest of Miss Clella Bashaw. J. Hoffhines returned yesterday from Buffalo, N. Y., where he had been to see his pacer Blue Sign race. At the republican county convenLeon Saturday ticket was tion lowing held county at nominat- the foled: Representative. Z. H. Gurley: treasurer, Chas. H. Edwards; sheriff, member board, C. Roy; C. Beck; superintendent, W. H. Paris; A. A. surveyor, J. M. Hollinger; coroner, Dr. H. R. Layton.