Traders State Bank - Arkansas City, KS

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 15, 1923
Location: Arkansas City, Kansas (37.062, -97.038)

Metadata

Model: gpt-5-mini
Short Digest: ea33636c

Response Measures

None

Description

Article describes the Traders State Bank having closed March 15, 1923, placed in receivership under the state banking department, with receivers paying dividends and assets to be auctioned in 1926 to close affairs. No run is mentioned. Cause of suspension is state action/receivership.

Events (3)

1. March 15, 1923 Receivership

Newspaper Excerpt: Walter Olson, now in charge of the affairs of the closed bank for the state banking department. The receiver has paid three dividends of 10 per cent each.
Source: newspapers

2. March 15, 1923 Suspension

Cause: Government Action
Cause Details: Bank was closed and placed under the control of the state banking department (receiver appointed).
Newspaper Excerpt: the Traders State bank of this city ... when the bank closed March 15, 1923
Source: newspapers

3. February 26, 1926 Other

Newspaper Excerpt: plan of the banking department in closing up affairs of failed banks such as the Traders State bank ... public auction of all the remaining assets of the bank
Source: newspapers

Newspaper Articles (1)

1. February 28, 1926 The Wichita Eagle Wichita, KS

Article from The Wichita Eagle, February 28, 1926

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Article Text

FEARING PUBLICITY BANK DELINQUENTS MAY PAY UP SUMS Advertising Probably Will Facilitate Closing up Aft fairs at Ark City PLAN PUBLIC AUCTION ARKANSAS CITY, KAN., Feb. 26. -Advertising the delinquents, which is part of the plan of the banking department in closing up affairs of failed banks such as the Traders State bank of this city, is said to inspire a desire on the part of many delinquents to pay at the last minute rather than undergo the undesirable publicity. The plan involves a public auction of all the remaining assets of the bank, and nowadays publicity is necessary in all public sales. In the case of the Traders bank, the assets will be advertised in detail, which will call for the enumeration of each name that is signed to security held by the bank, together with the amount due on the note or other instrument and other necessary details. Will End Before May 1 At the public auction each asset will go under the hammer and then the total of assets for a bulk bid. If the latter is larger than the aggregate of individual blds then the assets go to the highest bidder. When this sale is concluded, claimants will be listed for payment with the state banking department. The affairs of the Traders State bank are to be closed up before May 1, according to Walter Olson, now in charge of the affairs of the closed bank for the state banking department. Three Dividends Paid Out of the total of about $750,000 assets in notes and mortgages, when the bank closed March 15, 1923, there is uncollected now $281,000. Of this amount $83,000 is in court judgments against 85 persons; $198,000 in uncollections against 250 persons. Fif teen bankrupts are listed for the total of $42,667. After the business is finally closed the bank will be given its position in the line of falled banks in which receiverships have been finally closed. To date the Traders bank receiver has paid three dividends of 10 per cent each. The assets in sight are expected to be sufficient to pay an additional 10 per cent, after which additional payments, if they come, will be from the state guarantee fund.