6876. Peoples State Bank (Moran, KS)

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 26, 1930
Location: Moran, Kansas (37.916, -95.170)

Metadata

Model: gpt-5-mini
Short Digest: 3e23fc70

Response Measures

None

Description

Multiple contemporaneous newspaper reports (Dec 26, 1930) state the Peoples State Bank of Moran closed because of last summer's drought and inability to realize on farm paper. Receivers were appointed in early January 1931. No run is described in the articles; the closure is attributed to local agricultural shock (drought) and insolvency, and receivership followed.

Events (2)

1. December 26, 1930 Suspension

Cause: Local Shock
Cause Details: Drought (last summer's drouth) and inability of the banks to realize on their farm paper; insolvency leading to closure.
Newspaper Excerpt: Three Kansas banks, all located in Allen county which suffered from last summer's drouth, closed today, H. S Koeneke, state bank commissioner, announced today. The banks were: ... Peoples State bank of Moran, with capital of $15,000 and deposits of $127,000.
Source: newspapers

2. January 5, 1931 Receivership

Newspaper Excerpt: Receivers Named For Three Failed Banks ... has been appointed assistant charge liquidation the failed Peoples State bank Moran ... The work of liquidation of the three banks ... will be directed from his office at Topeka.
Source: newspapers

Newspaper Articles (6)

1. December 26, 1930 The Times Trenton, NJ

Article from The Times, December 26, 1930

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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

2. December 26, 1930 The St. Louis Star and Times St. Louis, MO

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

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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

3. December 26, 1930 The Evening Sun Baltimore, MD

Article from The Evening Sun, December 26, 1930

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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

4. December 27, 1930 Muskogee Daily Phoenix and Times-Democrat Muskogee, OK

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

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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.

5. January 5, 1931 The Iola Register Iola, KS

Article from The Iola Register, January 5, 1931

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Article Text

Receivers Named For Three Failed Banks Moran. has been appointed assistant charge liquidation the failed Peoples State bank Moran Mildred State according here today. Krokstrom pointed assistant receiver Elsmore bank. The effective January Charles of the state banking department, will direct the work liquidation the three banks, to started within from his office at Topeka. Young unanimous choice the depositors of Mobank for receiver in meeting week. Ohlfest. cashier of the Elsmore strom in the work of The work checking the fairs the three banks gressed almost to completion today being would light there Creditors Meetings. Creditors Dugan Brothers June Harry Fisher today the allowing claims electing trustee. The operated George and Dugan. Referee nounced similar meeting itors the Purity Creamery pany, adjudged bankrupt for January Fort Scott. Alvin Schell. Lillian Schell, Leon Schell and Pauline Schell individuals concerned in the notice. short today the State cultural college. The persons than years of age.

6. February 27, 1931 The Iola Register Iola, KS

Article from The Iola Register, February 27, 1931

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Article Text

BANK State Receiver Seeks To For Elsmore House Attorneys for Charles W. Johnstate bank receiver, yesterday evening in district court here filed against Frank Goyette, president of closed Elsmore State bank, for the amount he alleged to owe the institution undouble liability of stockholders law. The suit the first legal action to arise out of the three Allen county bank failures last when state banks in MilMoran and Elsmore closed their doors on the same day "frozen assets. Mr. Goyette. according to the bank receiver's attorney. has himself unable pay which was amount the stock owned in bank. Krokstrom, Elsmore, assistant receiver in charge bank. Besides the shares he owned Elsmore Goyette five shares the Peoples State bank Moran. Goyette, head of family since 1900. has been prominently concerned the banking affairs of the eastern county. His Goyette, was cashier Moran bank and owned 100 shares stock. Stockholders of the Elsmore bank besides Frank Goyette, were lows: Nannie Goyette, Goyette, Ohlfest. Breidenthal. Breidenthal, Ericson,