6547. American State Bank (Coffeyville, KS)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
March 31, 1927
Location
Coffeyville, Kansas (37.037, -95.616)

Metadata

Model
gpt-5-mini
Short Digest
61806462

Response Measures

Full suspension, Books examined

Other: Directors voluntarily closed the bank to stop withdrawals and pursue reorganization as a national bank; state examiners were sent.

Description

Multiple contemporaneous articles (dated March 31, 1927) report a depositor run that forced the American State Bank of Coffeyville to voluntarily suspend pending reorganization. A later article (Sept 18, 1927) reports stockholders elected a board and plans to reopen, indicating the bank eventually resumed operations. The immediate trigger of the run is not described as a specific rumor or a correspondent failure, so cause is coded as 'other'.

Events (3)
1. March 31, 1927 Run
Cause Details
Sustained depositor withdrawals over ~six months, accelerating in prior two weeks; no discrete rumor or specific scandal identified in articles.
Measures
Directors voted to close temporarily; notified state banking department and requested examiners; undertook efforts to reorganize as a national bank.
Newspaper Excerpt
the closing of the American State bank this morning due primarily to the run which has been in progress for six months...there being days ... when as much as $10,000 would be withdrawn in a day.
Source
newspapers
2. March 31, 1927 Suspension
Cause Details
Voluntary suspension triggered by the depositor run; bank notified state banking department and asked for representatives/examiners.
Newspaper Excerpt
American State Bank of Coffeyville today notified the banking department that a run by depositors 'made it necessary to suspend, pending reorganization.'
Source
newspapers
3. September 18, 1927 Reopening
Newspaper Excerpt
Plans for the reopening of the American State bank of Coffeyville culminated in the election of a board of directors...it was predicted...the bank would resume business within a short time.
Source
newspapers

Newspaper Articles (10)
1. March 31, 1927 The Emporia Gazette Emporia, KS
Article from The Emporia Gazette, March 31, 1927

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Article Text

BANK WILL REORGANIZE Coffeyville Institution Hopes To Reupen as National Hank. March The closing of the American State bank this morning due primarily to the bank which has been in progress for six months. The run has been greatly accelerated the past two weeks. There being three days last week and some this week when much as $10,000 would be withdrawn in day. The bank was unable to stand the strain and despite the fact that had cash and sight exchange hand last night. and United States bonds and Coffeyville school warrants totalling more. the directors close the bank temporarily and make herculean effort reorganize as tional bank. Muzzy is president of the and Marlia is cashier. Among the deposits $50.000 Cofferville City Money and 000 Coffeyville City money and posits. These deposits are out bond by virtue of the Kansas bank guaranty bank's statements last night showed the following: Deposits cash and sight bonds and Coffeyville school warrants total resources The bank's capiThe deposits September 1926. were $895. 59. "run" started soon after and has continued with increasing until as high as 10 12 thousand would be withdrawn When the directors voted last night close temporarily, they had more than double the cash reserve required by law but they deemed best to stop the drain on their resources. while they exerted efforts to nationalize and reopen.

2. March 31, 1927 The Mercury Manhattan, KS
Article from The Mercury, March 31, 1927

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Article Text

BANK VICTIM OF DEPOSITOR'S RUN A COFFEYVILLE INSTITUTION CLOSES DOORS TODAY "Run" on American State Bank Primary Cause of SuspensionDirectors Vote to Close Voluntarily Topeka, March American State bank of Coffeyville today notified the banking department that run by depositors "made necessary to suspend, pending organization.' "Send representative of department at once," the bank telegraphed Roy L. Bone, state bank commisH. Miller, chief bank examiner, and Dale R. Ainsworth, deputy ex aminer, were dispatched to Coffeyville. Under Bank Guaranty Law Independence, Kans., March 31. in the office of the county clerk of Montgomery county here show the only bond of the American State bank of Coffeyville, which closed its doors this morning, for county funds under the Kansas bank guaranty law. Montgomery county has total of $39,305.98 on deposit in the bank, officials stated today. Past Two Weeks closing of the American State bank this morning was due primarily "run" on the bank which has been in progress for six months. The run has been greatly the past two weeks, there being days early last week and some days this week when as mu $10,000 would be withdrawn in day. The bank was unable to stand the and despite the fact that had $61,436.72 cash and sight exchange on) hands last Elight, and United States bonds and Coffeyville school warrants totaling more. the directors voted to close the bank temporarily and make effort as national bank and D. H. Marline is The latter stated today he felt sure re-organization can be effected and that the depositors will not lose dollar. This, he balieves. possible and probable without the assessment the stockholder for hundred per of their stock Deposi Included City Money Among the deposits $50,000 Coffsyville city money and $39.000 county deposits. These deposits are without bond by v.rtue of the Kansas bank guaranty law. The bank's statement last night showed he Collowing:

3. March 31, 1927 Corsicana Daily Sun Corsicana, TX
Article from Corsicana Daily Sun, March 31, 1927

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Article Text

RUN ON KANSAS BANK CAUSE FOR CLOSING DOORS By Associaed Press. Topeka, Kans. March 31-The American State Bank of Coffeyville today notified the banking department that a run by depositors "made it necessary to suspend, pending reorganization." H. P. Miller. chief bank examiner and Dale R. Insworth, a deputy were sent to Coffeyville.

4. March 31, 1927 Bristow Daily Record Bristow, OK
Article from Bristow Daily Record, March 31, 1927

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Article Text

Run Causes Kansas Bank To Suspend The American State bank of Coffey. today notified the banking de that run by made it necessary suspend, pending organization. Send representative of department once,' the bank telegraphed to Roy Bone, state bank H. Miller chief bank examiner and Dale R. Insworth deputy aminer, ville. were despatched to Coffey.

5. March 31, 1927 The Iola Register Iola, KS
Article from The Iola Register, March 31, 1927

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Article Text

COFFEYVILLE Long Run Brings Decision By Directors To Close Doors. Topeka, Mar. (AP) The American State Bank of today notified the banking department that run by depositors "made necessary suspend, pending organization.' "Send representative of partment the bank state bank commissioner. chief bank aminer and Dale Ainsworth, deputy examiner, were despatched to Coffeyville. Coffeyville, Kans., Mar. 31. (AP) The closing of the American State Bank this morning was due primarily to the bank which has been in for months. The has been greatly accelerated past two there being days early last week and days this week when much $10,000 would be withdrawn day. The bank unable to stand the strain. And despite the fact that had $61,436.72 cash and exchange hands last night United States bonds and Coffeyville school warrants totaling $14,048 more, the directors voted close the bank temporarily and make herculean effort ganize national bank.

6. March 31, 1927 The Parsons Daily Sun Parsons, KS
Article from The Parsons Daily Sun, March 31, 1927

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Article Text

COFFEYVILLE State in Control May Reopen March closing of American State bank this morning due primarily to "run" on the bank which has been in profor six months. The run has been greatly accelerated the past weeks, there being days early week and some days week when much as 000 would withdrawn in The bank was unable to stand the strain. And despite the fact that had cash and sight exchange hands last night United States bonds and Cofschool warrants totalling more, the directors voted close the bank temporarily and make herculean effort to reorgnational bank Muzzy president of the bank and Martin cashier The latter stated today he felt can be fected and that depositors would not lose dollar. This, believes. possible and probable without the the for hundred per their $50,000 City Money Among the deposits were $50.000 money and Montgomery county deposits. These deposits are withbond by virtue of the Kansas guaranty statement last night showed the Deposits cash and sight exchange bonds and Coffeyville school warrants total resources The bank's capital The bank's deposits on Sept. 1926 were started after and continued with strength until as high $10,000 to would withdrawn in day. When the directors voted last night to close temporarily. they had more than double the cash reserve required by law but they deemed best to stop the drain on their resources. while they exerted efforts to nationalize and State in Control Kan., March American State Bank Coffeyville today notified the banking department that run by depositors "made necessary suspend pending "Send department the bank telegraphed to Roy state bank H. Miller. chief bank examiner and deputy despatched in the office of the county clerk Montgomery county here show the only bond of American State bank of Coffeyville, which closed its doors this morning. for county funds under the Kansas bank guaranty law. Montgomery county has total of on deposit the bank, officials stated today. ROBBER ESCAPES. Okla., March Herman Barker. member of the notorious gang, trial for robbery of the Westville. Okla bank, broke jail at Fayetteville, early this morning with other prisoners, was learned here. TO SAN ANTONIO. NEW March Francesco Pinedo announced today that fly direct San Antonio. when he resumes his fourcontinent flight first had intended to stop Galveston

7. March 31, 1927 The Chickasha Daily Express Chickasha, OK
Article from The Chickasha Daily Express, March 31, 1927

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Article Text

Run Closes Bank For Coffeyville (By The Associated Press) American State Bank Coffeyville today notified the banking department that a run by depositors "made it necessary to suspend, pending reorganization." "Send representative of department at once." the bank telegraphed to Roy Lone, state bank commissioner. H. P. Miller, chief bank examiner and Dale R Insworth, deputy examiner, were despatched to Coffeyville.

8. March 31, 1927 Miami News-Record Miami, OK
Article from Miami News-Record, March 31, 1927

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Article Text

'Run' Forces Bank at Coffeyville to Close COFFEYVILLE, Kas., March 31. of the American State bank today was due primarily "run" on the bank which has been in progress for six months. The bank was unable to stand the strain and the directors voted to close bank temporarily and make an effort reorganize as national bank. The bank's capital is $50,000 and deposits on Sept. 1926 were $895,524.99.

9. April 1, 1927 The Morning Chronicle Manhattan, KS
Article from The Morning Chronicle, April 1, 1927

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Article Text

BANK VICTIM A DEPOSITOR'S RUN COFFEYVILLE ITUTION CLOSES DOORS TODAY "Run" on American State Bank Primary Cause of SuspensionDirectors Vote to Close Voluntarily Topeka, March American State bank of Coffeyville today notified the banking depart ment that run by depositors "made necessary to suspend, pending organization." "Send representative of department at once," the bank telegraphed Roy L. Bone, state bank commisH. Miller, chief bank examiner, and Dale R. Ainsworth, deputy ex aminer, were dispatched to Coffeyville. Under Bank Guaranty Law Independence, Kans., March 31. in the office of the county clerk of Montgomery county here show the only bond of the American State bank of Coffeyville, which closed its doors this morning, for county funds is under the Kansas bank guaranty law. Montgomery county has total of $39,305.98 on deposit in the bank, officials stated today. Past Two Weeks Coffeyville. Kans., March closing of the American State bank this morning was primarily to "run" the bank which has been in progress for six months. The run has been greatly accelerated the past two weeks, there being days early last week and some days this week when $10,000 would be withdrawn The bank was unable to stand the strain. and despite the fact that had $61,436.72 cash and sight exchange on) Hands last hilght, and United States bonds and Coffeyville school warrants totaling $14,048 more, the directors voted to close the bank temporarily and make Honculean effort to re-organize as national bank R. H. Muzzy is president of the bank and D. H. Marline is cashier, The latter stated today he felt sure re-organization can be effected and that the depositors will not lose dollar. This, he believes, possible and probable without the assessment of the stockholder for hundred per cent of their Deposits Money Among the deposits were $50,000 Coffayville city money and $39.000 Montgomery county deposits. These deposits are without bond by virtue of the Kansas bank guaranty law. The bank's statement last night showed he dollowing: Deposits, $569,278.46; cash and sight exchange. $61,438.72; U. bonds and Coffeyville school war rants $14,048; total resources, $680,812.73. The bank's capital $50,000. The bank's deposits September 1926 were started soon after and increasing until

10. September 18, 1927 Nowata Daily Star Nowata, OK
Article from Nowata Daily Star, September 18, 1927

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Article Text

ELECT BANK DRECTORS Plans for the reopening of the American State bank of Coffeyville culminated in the election of board of directors meeting of the stockholders Friday night. was predicted by persons professing to in close touch with the situation that the bank would resume business within short time. Those elected to the board were Orley Beck, Nate Weinberg, Jesse Graham, Thomas Jameson, Jesse Moon, all of Coffeyville; Wilder, Adair, Okla., banker, and H. Trapp, Miami, Okla., business man.