6868. Mildred State Bank (Mildred, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
December 26, 1930
Location
Mildred, Kansas (38.024, -95.171)

Metadata

Model
gpt-5-mini
Short Digest
ba3e83bf

Response Measures

None

Description

Multiple contemporaneous newspapers report the Mildred State Bank (Mildred, Allen County, KS) closed Dec. 26, 1930. Causes were attributed to last summer's drought and inability to realize farm paper (local agricultural shock). A receiver (O. A. Young) was appointed (reported Jan 13, 1931) and partial payments to depositors were later made (July 1931), indicating the bank did not simply reopen—this is a suspension leading to permanent closure/receivership.

Events (3)

1. December 26, 1930 Suspension
Cause
Local Shock
Cause Details
Closed because of last summer's drought and inability to realize on farm loans/farm paper.
Newspaper Excerpt
three small banks in southeastern Kansas ... The Mildred State Bank, Mildred ... He attributed the closings to last summer's drought and inability of the institutions to realize on their farm paper.
Source
newspapers
2. January 13, 1931 Receivership
Newspaper Excerpt
O. A. Young, Moran, has been appointed receiver for the Mildred and Moran banks, and he has appointed Babe Nevitt to look after the business here.
Source
newspapers
3. July 1, 1931* Other
Newspaper Excerpt
Topeka ... will pay depositors of the Mildred State bank 15 per cent on July ... The state bank will receive 20 per cent payment, the Wulfkuhler bank of Leavenworth 40 per cent.
Source
newspapers

Newspaper Articles (7)

Article from The Times, December 26, 1930

Click image to open full size in new tab

Article Text

WITHDRAWA CAUSE FIVE BANKS TO CLOSE Dec 26 -Closing of three small banks Kansas with deposits announced today by State Bank He attributed the closings to Summer's and inability of the to realize on their farm paper The banks are all Allen County They are The Mildred State Bank Mildred: the People's State Bank Moran, and the State Bank of Elsmore Elemore Savings Bank here to open today end notice posted on the door had been placed charge the State of banks the said the closing was to Ind Dec The State of $50,000 was closed of today heavy was the State The surplus $30,000 and loans and discounts


Article from The St. Louis Star and Times, December 26, 1930

Click image to open full size in new tab

Article Text

EIGHT MISSISSIPPI BANKS CLOSE AFTER HEAVY RUNS TUPELO MISS Dec 26 By U. The People' Bank and Trust Company and affiliated today Deposits in the closed institutions totaled Besides the Nettleton Miss. and Reinzi, Miss. branches of the trust company the following associated banks closed The Bank Guntown Bank of Saltillo Bank of Verona. Bank of Shannon and the Itawamba County Bank of Fulton. Heavy withdrawals were Missouri Bank Closes. JEFFERSON CITY Dec 26 pecial The Bank of Clark RanCounty by its directors today had total resources of $113,133 and deposits of Drouth Closes Three Banks. TOPEKA KAN Dec 26 By U P Three banks in Allen County closed their They the State Bank of Elsmore capital the People's State Bank of Moran, $15,000 deposits $127,000 and the Mildred State Bank capital $10,000 and deposits $49,000 Drouth conditions were blamed for the closings Bank at Gary, Ind., Closes GARY IND 26 N Heavy today forced the People's State Bank of Gary to close, although directors said it was solvent The bank was capitalized at $50,000 and had $355.00 deposits according to its latest statement Bank Closing in Virginia RICHMOND VA. Dec By U. Because of withdraw als. the State Bank of Pamplin Va suspended business today A mass meeting of depositors will be held tomorrow The according to the State Banking Department To Give Christmas Play The Players Methodist Church, Kingshigh way and Washington boulevards, will give Dust of the Road Christmas play by Kenneth Sawyer Goodman at 30 m Sunday in the recreational hall of the church


Article from The Evening Sun, December 26, 1930

Click image to open full size in new tab

Article Text

Banks Throughout Close Doors Country Miss., Dec. 26 Peoples Bank Trust Company and branches, Nettleton Rienzi, Miss.. failed open directors called meeting to consider plans for The capitalized 000. Its last plus of about and deposits the president, said tinued withdrawals inability the bank obtain further credit forced the suspension. Three Kansas Close Topeka, Kan., Dec. three small banks in southeastern deposits was announced today by Koeneke, State Bank Commissioner. He attributed closings to last mer's drought and inability of the stitutions realize on their farm paper. banks are all in Allen county. They Mildred State Mildred the Peoples State Bank, Moran, the State Bank Elsmore, Elsmore. Virginia Suspends Dec. Bristow, State Commissioner of and today that the State Bank of Pamplin, this pending meeting its depositors Atlanta Bank Closes 26 Union Savings Bank here failed and on the had been placed charge the State Superintendent of Banks


Article from Daily American Republic, December 26, 1930

Click image to open full size in new tab

Article Text

THREE BANKS CLOSE By The Associated Press. Topeka, Dec. Closing of three small banks in Southeastern Kansas with deposits aggregating $274,000 was announced today by H. W. Koeneke, state bank commissioner. He attributed the closings to last summer's drought and inability of the institutions to realize on their farm paper The banks are all in Allen county: They are :The Mildred State Bank, Mildred: the People's State Bank, Mo. Elsmore.


Article from Muskogee Daily Phoenix and Times-Democrat, December 27, 1930

Click image to open full size in new tab

Article Text

DROUTH CAUSES FAILURE OF THREE KANSAS BANKS Three Kansas banks, all located in county which suffered from last summer's drouth, closed today, H. S Koeneke, state bank commissioner, announced today. The banks were: State Bank of Elsmore, with capital of $10,000 and deposits of $96,000; Peoples State bank of Moran, with capital of $15,000 and deposits of $127,000; the Mildred State bank, with capital of $10,000 and deposits of $49,000. The drouth is responsible for the closures, Koeneke said.


Article from The Iola Register, January 13, 1931

Click image to open full size in new tab

Article Text

NEWS OF MILDRED Cement Road Is Being Extended North of Town-"B Nevitt Assists Bank Receiver. Amor Jefferis, who is a student in the Kansas State Teachers college, Pittsburg, and Mr. and Mrs. Paul Iden, Iola, spent the week end at the parental James Jefferis home. Mr. and Mrs. Brooks Wallace spent Thursday with Mrs. Mary E. Walker and Sam Wallace. Rev. J. C. Lane called at Mont Miller's Friday afternoon. Mr. and Mrs. George Ruxton drove to Iola Friday. Mrs. J. D. Land. Kansas City, sister of Mrs. Mont Miller. had her tonsils removed at the Iola hospital last week. Mrs. Wood and son, of Moran, helped Mrs. George McCormack celebrate her birthday Friday by eating supper with her at the M. Keeton home. Johnnie Williams and family were visitors at A. D. Switzer's Thursday evening. John Haberbosch, who is attending school at Erie, spent the week end at home. Arthur Hizey, Bronson. spent Sunday with his sister, Mrs. A. D. Switzer and family, Sunday C. W. Dean and his daughter, Mrs. Melba McDonald. have moved back to Mildred. Melba was our popular central for some time and made friends of all Mr. Dean has held a position with the cement plant here for several years and their many friends are glad to welcome them back to Mildred. Mr. and Mrs. Mont Miller spent Friday evening at the Ater home. Our little town has taken on quite a busy "air," the streets being filled with cars morning and evenings and many people have opened up their homes to accommodate the men. A gas line is being laid, coming into town from the north, and the cement road is being extended several miles north. The road between here and Kincaid will be shortened, the new road going past the cement plant. Two forces of men are here for the road work, the bridge gang and the road gang, and with the pipe line men, our eating houses are taxed to their utmost capacity and a number of private homes are taking boarders. Every day large number of men come in to try to get jobs. Monday morning there was string of cars two miles long between here and Kincaid-men hunting work. Both the boys' and girls' teams of our high school went to LaHarpe Friday night and played the LaHarpe high school. Both teams came home victorious, the score in the girls' game being 34-47 and the boys' game, 21-19. This is the second league game our folks have won. They will play Uniontown here Friday night. Jim Doggett and family and Mr Goodwin and family were visitors at A. D. Switzer's Thursday evening. Mrs. C. S. Fowler and Irene, Gas, visited Mrs. A. D. Switzer Monday Jerome Caron has returned from the veterans' hospital in Kansas City where he had an operation performed on his throat. Frank and Meribeth Ater ate supper at Hank McAdams Thursday evening. Mr. and Mrs. Bill Moore and Mr. and Mrs. Roland Chandler have moved to Mildred and opened a restaurant in the Dudley building. O. A. Young, Moran. has been appointed receiver for the Mildred and Moran banks, and he has appointed "Babe" Nevitt to look after the business here. Mr. Keetom and "Babe" are both honest, upright men, who have the confidence of all, and the depositors are much pleased that "Babe" will look after the business. It is still hoped that the bank can be reorganized and go on. as Mildred needs a bank. Without a bank business interests would be drawn away from town. An infant child of Mr. and Mrs. Ray Ewing, Thayer, was brought here Monday for burial in the Fairview cemetery Miss Fawn Miller entertained the junior class of the Kincaid high school at her home north of town. Friends here have received word from the Garretsons asking them to go to Lone Elm and hear Rev. and Mrs. Calkins who are conducting a revival there. Rev. Mr. Calkins conducted a revival for Rev.


Article from Council Grove Republican, July 10, 1931

Click image to open full size in new tab

Article Text

TO PAY DEPOSITORS Topeka, July W. Johnstate will depositors of the Mildred pay state bank 15 per cent on July The state bank will receive 20 per cent payment, the Wulfkuhler bank of Leavenworth 40 per cent. The Union state of Mound City was paid 25 per cent yesterday.