Peoples State Bank - Mound Valley, KS

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 31, 1927
Location: Mound Valley, Kansas (37.205, -95.405)

Metadata

Model: gpt-5-mini
Short Digest: acfd6f0c

Response Measures

None

Description

Article (Parsons Daily Sun, 1927-12-31) states the failure of the Midland Investment Company was the principal cause for closing of the People's State bank of Mound Valley. A general receiver (Charles W. Johnson) has been appointed; local receiver Ray Drenner named for the related Midland company. No explicit run is described, so this is a suspension that results in receivership/closure.

Events (3)

1. December 31, 1927 Other

Newspaper Excerpt: Ray Drenner... has been appointed receiver for the Midland Investment company, failure of which was the principal cause for closing of the People's State bank of Mound Valley.
Source: newspapers

2. December 31, 1927 Receivership

Newspaper Excerpt: Charles W. Johnson the state banking department has been appointed general receiver of the bank, but is thought local man will be appointed receiver at the bank within short time.
Source: newspapers

3. December 31, 1927 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Failure of the Midland Investment Company (a firm which bought motor sales paper) was the principal cause for closing the bank.
Newspaper Excerpt: failure of which was the principal cause for closing of the People's State bank of Mound Valley.
Source: newspapers

Newspaper Articles (1)

1. December 31, 1927 The Parsons Daily Sun Parsons, KS

Article from The Parsons Daily Sun, December 31, 1927

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Article Text

those who join having the privilege of going to the church of their desire, was said. The union song and praise band will conduct services each night from to 8:30, Mrs. Keyes and Mrs. Darnell, leaders Monday night. There will be preaching each night from to o'clock and cottage prayer meetings will be held in the afternoons. Board Meeting. The regular meeting of the city school board will be held Tuesday night o'clock in the office of superintendent of schools, was announced today Routine business will come before the board. Assistant Receiver. M. V. George of the Edna Sun has been assistant receiver for the Valeda State bank to take the place of Attorney Taylor of Parsons, who was in jured in an auto accident few weeks ago. Mr. Taylor will continue handle the legal affairs of the bank. Midland Receiver. Ray Drenner, who lives short distance north of Mound Valley, has been appointed receiver for the Midland Investment company, failure of which was the principal cause for closing of the People's State bank of Mound Valley. An expert accountant has been employed check books of the company. firm which bought motor sales paper. Drenner director in the company and also in the bank. Charles W. Johnson the state banking department has been appointed general receiver of the bank, but is thought local man will be appointed receiver at the bank within short time. Dr. Blasdel Moves. Workmen today were busy mov. ing the office equipment of Dr Blasdel from the corner of Central and Main to 1-2 South Eighteenth street, an of fice formerly occupied by Dr. George To Make Reports. Reports from all organizations within the Presbyterian church will be made at the annual meeting for that purpose in the church building Wednesday night at 7:30 o'clock. Several new members for the church board of elders and trustees are to be elected. Refreshments will be served. Plan Sled Party. Two basketball games. one for boys and the other for girls' teams. will furnish the principal tonight at watch party to be held at the W. E. church by young people of the church. The party begin at o'clock. Plans have been made for bob-sled ride. Dr. D. Blasdel has moved to 18th. First door south of the Leader. Stolen Check. James Robinson, 28. colored. who gave his address as Colfax. was arrested today. charged with possession of stolen check. The check. dated Dec. and made out for $4. was said to have been lost from milk bottle the front porch of the Luther Cortelyou, jr., home, 1524 Chess. is thought the check probably was blown from the bottle by the wind. Mr. Cortelyou said today Robinson says he got the check from another man. to police. He is being held for investigation. To Elect Directors. Five men to serve as members of the board of directors of the Parsons Retailers association will be elected from 10 nominees selected by nominating committee. The names of the 10 men will be announced Tuesday. Want Dry Officers. The civil service commission at Washington has reannounced examinations assistant prohibition administrator for enforcement work and assistant prohibition administrator for permissive work for those who have bona fide, domicile and postoffice addresses within the state of Kansas. Formal applications for the positions must reach the commission Washington by Jan. Full information may be received at the postoffice.