6187. Farmers & Merchants State Bank (Tonganoxie, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 25, 1925
Location
Tonganoxie, Kansas (39.110, -95.088)

Metadata

Model
gpt-5-mini
Short Digest
eafc4d75aefdb99f

Response Measures

None

Description

Bank closed due to bad and slow paper (loan losses). No run or depositor panic described. A receiver was requested/appointed shortly after closure.

Events (2)
1. March 25, 1925 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Closure caused by large amount of 'slow' and 'bad' paper (loan losses); deputy state bank commissioner reported bad paper as cause. Bank deposits $275,000 and loans $265,000 noted in report.
Newspaper Excerpt
Appointment of a local man as receiver of the Farmers' and Merchants' State Bank here, which was closed this morning
Source
newspapers
2. April 3, 1925 Receivership
Newspaper Excerpt
Bollinger has been pointed receiver of the Farmers and Merchants state bank Tonganoxie... The appointment of Mr. Bollinger was made by William Dykes, general receiver for all state banks.
Source
newspapers

Newspaper Articles (3)
1. March 27, 1925 The Kansas City Times Kansas City, MO
Article from The Kansas City Times, March 27, 1925

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Article Text

BAD PAPER CLOSES BANK RECEIVER TO BE ASKED FOR FARMERS AND MERCHANTS AT TONGANOXIE. No Irregularities, Deputy Bank Commissioner Says-Depositors Believe Large Part of "Slow" Loans Can Be Collected. TONGANOXIE, KAS., March 25.-Appointment of a local man as receiver of the Farmers' and Merchants' State Bank here, which was closed this morning, will be asked of Governor Ben S. Paulen tomorrow. Depositors of the bank met tonight and decided upon this action as the most feasible way of recovering on the large amount of "slow" and "bad" paper which is outstanding. A petition reciting the request was prepared, signed and will be forwarded to Governor Paulen tomorrow. The bank has deposits of $275,000 and loans totalling $265,000. Bad paper was the cause of the bank's failure, according to P. M. Reeves, deputy state bank commissioner, who has been in Tonganoxie two weeks investigating. There are no indications of any irregularities, Mr. Reeves said. The bank has a capital stock of $10,- 0, surplus, $14,000. Its officers are W. H. Newby, president; F. W. Lanahan, vice-president, and George H. Denholm, cashier.

2. April 1, 1925 The Weekly Kansas City Star Kansas City, MO
Article from The Weekly Kansas City Star, April 1, 1925

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Article Text

BAD PAPER CLOSES BANK. Be for Farmers and Merchants Tonganoxie, of local the Farmers and Merchants State Bank which closed week, was asked of Governor Depositors the bank decided upon this action as the most feasible way on the and paper which is outstanding The bank deposits of $275,000 and $265,000. Bad paper the cause of the bank's failure deputy bank has two weeks There of any irreguMr. The bank has capital stock of 000, Its officers Lanahan, and George H. Denholm, cashier. Cook Back State School. Cook will be the superintendent of the state school for the feeble-minded Winfield according to an announcement by Clyde secretary Governor Paulen. Mr. Cook formerly was superintendent of the Winfield school, being removed ernor Davis.

3. April 3, 1925 The Parsons Daily Sun Parsons, KS
Article from The Parsons Daily Sun, April 3, 1925

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Article Text

Bollinger Named Bank Receiver Bollinger has been pointed receiver of the Farmers and Merchants state bank Ton ganoxie. Mr. Bollinger assistant receiver of the National bank here and declared by John H. the be efficient and fectly capable handling the the Tonganoxie bank. closed its doors few days The appointment of Mr. Bollinmade by William Doekgeneral ceiver for all state banks. Mr. Bollinger was Kansas City the time of appointment and he learned he had been named immediately telephoned Mr. Dykes various of records which the Farmers bank used here up the affairs of the defunct bank. Mr. Bollinger was In the bankbusiness Mound Valley and been assistant receiver here for about year.