Citizens Bank (Blodgett, MO)

Episode Information

Episode UID
4543558291481
Episode Type
Suspension β†’ Closure
Bank Type
state
Bank ID
454355829 hash
Start Date
May 25, 1923
Location
Blodgett, Missouri (37.004, -89.527)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7ecf98ba89fff03f

Response Measures

None

Description

Articles report the bank was closed by directors and taken over by the state examiner; contemporaneous copy calls it a failure but later reopening is not documented here.

Events (1)

1. May 25, 1923 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors closed bank after president discovered a shortage in the bank's finances; state examiner took charge.
Newspaper Excerpt
The Citizens Bank of Blodgett was closed last Friday, by order of the board of directors, when its president, Dr. Fred Ogilvie, discovered that a shortage existed in the finances of the institution.
Source
newspapers

Newspaper Articles (2)

Article from The Democrat-News, May 31, 1923

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Article Text

Scott county has had her ups and downs in banking circles. The Citizens Bank of Blodgett is the fifth institution to fail in recent years. About two years ago the Vanduser Bank was reported to have been robbed and later it burned and with the building went the records. Its cashier, Thos. Bugg, was indicted by the grand jury of Scott county but was released upon a technicality. The Blodgett Bank failed but was reorganized and opened. Following close upon the heels of this came the failure of the Diehlstadt Bank, but, it too, reopened. It was thought that the failure of the Blodgett Bank was in a measure responsible for this failure. Then came the failure of the Citizens' Bank of Sikeston and its cashier, Mr. Dover, was indicted by the same grand jury which indicted McBride. The failure last week of the Citizens' Bank of Blodgett made the fifth banking institution to fail in that county. The Vanduser Bank never reopened and it is thought that last Thursday was the end of the last failure.β€”Charleston Times.


Article from The Democrat-News, May 31, 1923

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Article Text

The Citizens Bank of Blodgett was closed last Friday, by order of the board of directors, when its president, Dr. Fred Ogilvie, discovered that a shortage existed in the finances of the institution. Dr. Ogilvie at once notified State Director of Finance Millspaugh of the board's action, and the Director sent State Bank Examiner H. G. Harrison to Blodgett to take charge of the bank's affairs. Harrison arrived Saturday morning and at once assumed charge of the bank, ordering it closed until a reorganization could be affected. On Friday also, W. D. McBride, who was assisting Cashier Gary Allen with the clerical work of the bank, was arrested by Sheriff Wm. Kirkindall and Deputy Tom Scott and taken to jail at Benton, where he is being