6480. Rawlins County State Bank (Atwood, KS)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: state
Start Date: April 10, 1928
Location: Atwood, Kansas (39.807, -101.042)

Metadata

Model: gpt-5-mini
Short Digest: 719e6752

Response Measures

Full suspension, Books examined

Other: Receiver appointed after closure; deputy bank commissioner placed in charge initially.

Description

Multiple contemporaneous reports (Apr 10–11, 1928) state a 'slow run' or 'heavy withdrawals' and that the board ordered the bank closed; local paper (Apr 12) explicitly cites 'false rumors started a run'. A receiver (George Bastian) was appointed by Apr 26, 1928, indicating permanent closure. No evidence bank reopened.

Events (3)

1. April 10, 1928 Run

Cause: Rumor Or Misinformation
Cause Details: Depositors made heavy withdrawals after false rumors circulated, producing a slow/heavy run on the bank.
Measures: Directors ordered the bank closed; deputy bank commissioner placed in charge to take over custody and examine books.
Newspaper Excerpt: it was believed a slow run on the bank was responsible.
Source: newspapers

2. April 10, 1928 Suspension

Cause: Rumor Or Misinformation
Cause Details: Board of directors closed the bank after heavy withdrawals/run believed triggered by rumors; state banking department and deputy commissioner took charge.
Newspaper Excerpt: The Rawlins County State bank of Atwood, Kas., was closed today by order of its board of directors.
Source: newspapers

3. April 26, 1928 Receivership

Newspaper Excerpt: G. W. BASTIAN RECEIVER In response to the popular wish of the depositors of the Rawlins County State Bank, George Bastian has been appointed receiver for the institution
Source: newspapers

Newspaper Articles (5)

1. April 11, 1928 Kansas City Journal Kansas City, MO

Article from Kansas City Journal, April 11, 1928

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Article Text

BANK IS CLOSED IN ATWOOD, KAS. Slow Run Believed Responsible for Order by Directors. TOPEKA. April 10.-(A.P.)-The Rawlins County State bank of Atwood, Kas., was closed today by order of its board of directors. the state banking department announced late today. Roy L. Bone, state bank commissioner. said no definite word had been received as to the reason for the closing, but It was believed a slow run on the bank was responsible. The bank has $30,000 capital: $200,865 loans and discounts: $6,000 surplus; $1,679 net undivided profits: $154,463 deposits, and $58,114 bills Henry Holthus is president of the bank and Elmer Mullen. cashier H. B. Eagle, deputy bank commissioner, was placed in charge.

2. April 11, 1928 St. Joseph Gazette St. Joseph, MO

Article from St. Joseph Gazette, April 11, 1928

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Article Text

BANK CLOSES DOORS. Believe Slow Run Responsible for Failure of Rawlins County, TOPEKA, April The Rawlins County State Bank of Atwood, Kan., was closed today by order of Its board of directors. the state banking department announced late believed alow run on the bank was The bank has $30,000 capital: $200,865 loans and discounts: $6,000 surplus; $1,679 net undivided prof. Its: $154,463 deposits, and $58,114 bills rediscounted.

3. April 11, 1928 The Wichita Eagle Wichita, KS

Article from The Wichita Eagle, April 11, 1928

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Article Text

ATWOOD BANK CLOSED BY A DEPOSITORS' RUN Directors Close Rawlins County Institution Late on Tuesday TOPEKA, April Rawlins County State bank, of Atwood. Kan., was closed today by order of its board of directors, the state banking department announced late this Roy L. Bone, state bank commissioner, said no definite word had been received as to the reason for the closing but it was believed a slow run on the bank was responsible. The bank has $30,000 capital; $200,865 loans and discounts; $6,000 surplus; $1,679 net undivided profits; $154,463 deposits and $58,114 bills rediscounted. Henry Holthus is president of the bank and Elmer Mullen cashier. H. B. Eagle, deputy bank commissioner, was placed in charge.

4. April 12, 1928 Herndon Nonpareil Herndon, KS

Article from Herndon Nonpareil, April 12, 1928

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Article Text

RAWLINS COUNTY STATE BANK CLOSED DOORS TUESDAY Heavy With-Drawals Said To Be Cause of Bank's Failure The Rawlins County State Bank at Atwood closed its doors at noon Tuesday, is said that false rumors started a run on the bank by depositors, resulting in such heavy withdrawals that the officers and directors asked that the bank be closed. Deputy Bank Commissioner C. S. Gilpis of Manhattan is now in charge of the bank and with the officers is making a check up of the banks condition. Mr. Holthus president of the bank when called by phone by the Nonpareil for a statement said the closing of the institution was brought about solely by reason of heavy with drawals. The books of the bank when taken over by the Deputy Bank Commissioners are said to show the fol lowing approximate footings: Capital stock, surplus and undivided profits $37,650, Loans $200,000. Deposits $156,000. Rediscounts $56,000. The history of this bank dates back to the County's earliest history and was the oldest bank in the county and among the oldest in north west Kansas. The bank was started by R. S. Hendricks in 1885, and one year later, 1886, was sold to John M. Burton who continued head of the institution until his death. In 1902 was organized as a state bank. A number of prominent business men and farmers are stockholders Mr. Henry H Ithus is president, Elper Mullen Cashier and Claude Bone assistant cashier.

5. April 26, 1928 The Citizen-Patriot Atwood, KS

Article from The Citizen-Patriot, April 26, 1928

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Article Text

ELECTED TEACHERS At a meeting of the school board Tuesday night the following high school teachers were elected: C. A. Weber-Principal. L S. Peters-Coach. Lucile Obert-Music. Grace Eatough-Latin. Mrs. Yager-English. Mrs. Wolfe-History Mrs. Kesselring-Librarian. The Commerce and Domest'c Science departments are still open. G. W. BASTIAN RECEIVER In response to the popular wish of the depositors of the Rawlins County State Bank, George Bastian has been appointed receiver for the institution C. A. P. Falconer and George went down to Topeka last Sunday, the ap A birthday surprise was planned and carried out for Mrs. S. E. Gaines by her children and their families, last Sunday. A large birthday dinner was prepared and a most pleasant day enjoyed by all. Those present were: W. R. Gaines and family of Beardsley; Homer C. Gaines and family of Beardsley; Claude Games and family of McDonald; and Mr. and Mrs. Asa David of this place. Jack Beam the popular Ludell batber has just purchased a used Chevrolet coach from Stafford & Beamgard. Dr. Robinson of Chicago, who spoke at the Methodist church Sunday even was a dinner guest with Rev. Strayer and son at the C. H. Brown home. After the services Sunday evening, Strayer and Mr. and Mrs. Brown took the speaker to Colby where he took the train for Colorado Springs, Frank Prochazka and Judge Short were McDonald visitors yesterday.