6628. Peoples State Bank (Fort Scott, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 15, 1930
Location
Fort Scott, Kansas (37.840, -94.708)

Metadata

Model
gpt-5-mini
Short Digest
96d9fc27

Response Measures

None

Description

Articles (May 15–23, 1930) report the Peoples (People's) State Bank of Fort Scott as closed/defunct, in the hands of the assistant state bank receiver Frank W. Davis, with President P. H. McAfee having absconded and a large official shortage (~$213,363) attributed to embezzlement. No article describes a depositor run prior to the closure; the closure appears tied to bank-specific adverse information and resulted in receivership. Minor OCR variants: People's vs Peoples; corrected to Peoples State Bank per provided name.

Events (2)

1. May 15, 1930 Receivership
Newspaper Excerpt
The defunct Peoples State Bank here was in the hands of Frank W. Davis, assistant state bank receiver Friday, the official shortage of P. H. McAfee, fugitive president, was announced at $213,363 (May 15-16, 1930 articles)., cause: null } ] }
Source
newspapers
2. May 15, 1930 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank closed/declared defunct after discovery of an official shortage of about $213,363 and flight of president P. H. McAfee; embezzlement alleged.
Newspaper Excerpt
The defunct Peoples State Bank here was in the hands of Frank W. Davis, assistant state bank receiver today
Source
newspapers

Newspaper Articles (7)

Article from St. Joseph News-Press, May 15, 1930

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Article Text

BANK SHORTAGE $213,363. Reward for Fugitive Head of Fort Scott Institution. FORT SCOTT. Kan., May 15.defunct Peoples State Bank here was in the hands of Frank W. Davis, assistant state bank receiver, today, and the of ficial shortage left by P. H. Mc Afee, fugitive president. was an nounced as $213,363, somewhat lower than had been expected Rewards have been offered for the apprehension of McAfee, who left the bank on the day the state banking inspectors arrived for the regular examination of the institution's books. No attachment has been made on the bank president's property here as yet.


Article from The Springfield Press, May 15, 1930

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Article Text

M'AFEE SHORTAGE IS $213,263, ANNOUNCED FORT SCOTT, Kan., May 15.The defunct People's State bank here was in the hands of Frank W. Davis, assistant state bank receiver Thursday, and the official shortage left by P. H. McAfee, fugitive president, was announced at $213,363, somewhat lower than had been expected. Rewards have been offered for the apprehension of McAfee, who left the bank the day the state banking inspectors arrived.


Article from The Oklahoma News, May 16, 1930

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Article Text

$213,363 IS MISSING Search Starts for Absconding Bank Head By United Press FORT SCOTT, Kan., May 16 The defunct Peoples State Bank here was in the hands of Frank W. Davis, assistant state bank receiver Friday. The official shortage of P. H. McAfee, fugitive president, was announced as $213,363


Article from The Sedalia Democrat, May 22, 1930

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Article Text

BANKER IN JAIL AT SCOTT The Associated Press. FORT SCOTT, Kas., May McAfee, president of the closed Peoples State Bank here awaited jail cell today the tion Bourbon County authorities on an embezzlement charge placed against soon after his flight from Fort Scott three weeks ago. The year banker and his left Fort Scott precipitately May while state bank aminers checking the bank records, brought here yesterSheriff George Sessong of Bourbon County and his deputy. Harry Hyle, found the couple one room shanty near Jay, northeast Oklahoma about 10 miles from Arkansas McAfee specifically charged with embezzling in bonds posited the bank, although shortage was placed $213,000 bank examiners.


Article from The Springfield News-Leader, May 23, 1930

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Article Text

Accused Banker Is Kept Hidden In Kansas Town FORT SCOTT, Kan., May 22. Although public demonstrations of were absent, P. H. Mc47. president of the defunct People's State bank here. tonight confined in secret place to he was remoyed the county jail by Bourbon county of last night The officers explained they would feel "easier in our with which the state banking department has estimated loss of $213.000 was brought back here yesterday from hirting place in Oklahoma to face charges. He and his found in one-room shack Jai Okla after search when the bank was was lodged in the county until after dark last night and taken by Undersheriff Harry Hyle to the place where he held under guard now The oflicers announced his removal today. County Attorney Fred W. Bayless today began preparing charges upon which the banker is to be arraigned. An original information charges McAfee with one count of embezzlement.


Article from The Parsons Sun, March 29, 1931

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Article Text

Among Our Neighbors local city last week declined action request Pittsburg barbers that the city regulate closing hours for pariors and regulate prices for barber work. for the barbers, who called on the city board, declared sanitary conditions could not be some shops under present prices charged, sought an under the guise of public health law. Bernadette Rinsford, for the few months secretary the local Red Cross, has signed position account health, expects leave for Santa She has been confined Mercy pital treatment for several weeks. ELK E. Hansford, pioneer of the Elk City neighborhood, was in critical the result injuries shock suffered late Thursday when hip was broken fell near her home the farm on which and John Hansford, settled 1870. FORT H. former president defunct People's State bank Thursday willingly to local lawyers gave at Lansing, used trial of preferred claim suits against the bank's His willingness answer questions entirely expected, since he had refused come Fort Scott appear personally witness. progress has been made upon the reconstruction the Columbus sewage disposal this winter, due measure the favorable weather conditions. expectthey completed within weeks. about per cent finished last week. quest for the maintenance fund began total of 186 workers and friends the Christian sociations Friday and by o'clock the crowd taken to the street, solicitation under way. E. Waldorf of the Kansas City area will head committee from the Southwestern Kansas to visit Dr. George Zook, secretary the North association and members the execu, tive to present Southwestern's side for reinstatement. Other the committee Henry, Hutchinson are and M. Light, Winfield. Knowles, 20youth, with Campbell, 18, broke into the Scott store here early the grocery morning pleaded guilty before Judge Resler the district Thursday larceny charge. The postponed until the end the present term of and was released on $1,000 bond. The two, after entering grocery store, were surprised the


Article from Hume Border Messenger, November 17, 1932

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Article Text

M'AFEE TO ASK A PAROLE Topeka, Nov. 12-P. H. McAfee, president of the defunct Peoples State Bank of Fort Scott, is preparing to seek executive clemency. He has published notice in the Fort Scott News papers that he would apply to Governor Woodring next month for parole, pardon or commutation of sentence to make him eligible to release from the state penitentiary. McAfee cumulative tences aggregating 125 years for the wrecking of the bank three and onehalf He was président years ago. and managing officer and also the financial adviser of many depositors who lost everything in the failure of the bank. The receiver for the bank has paid 20 per cent to depositors. and when the assets are all sold about 2 or 3 cent additional will be paid. The per total losses to depositors and those who intrusted securities to McAfee aggregated more than $200,000. McAfee has served three years of his term.