6891. Miners State Bank (Mulberry, KS)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
December 10, 1926
Location
Mulberry, Kansas (37.557, -94.622)

Metadata

Model
gpt-5-mini
Short Digest
39b14df1

Response Measures

Accommodated withdrawals, Full suspension

Description

Local reporting (Dec 1926) says the Miners State Bank faced heavy withdrawals after the neighboring Mulberry State Bank failure but remained open. In late Feb/early Mar 1927 the bank was closed by the state banking department after shortages were discovered; receivers were appointed March 7, 1927. Sequence: run-like pressure → suspension/closure by state action with receivership.

Events (3)

1. December 10, 1926 Run
Cause
Local Banks
Cause Details
Heavy withdrawal demands after the failure of the nearby Mulberry State Bank; strain on the remaining local bank.
Measures
Bank absorbed the increased demands and continued paying; leveraged backing of local financier John Miller to meet withdrawals.
Newspaper Excerpt
Following the Mulberry State failure, the resultant demands on the remaining bank amounted almost to a run, but the bank was never in any danger, and it has come through a hard summer and fall in as good shape as any bank in the state.
Source
newspapers
2. February 25, 1927 Suspension
Cause
Government Action
Cause Details
Closed by the state banking department after discovery of fund shortages in the bank's accounts (reported shortages over $5,000).
Newspaper Excerpt
Appointment of two receivers for six of the Miller banks, closed ten days ago by the state banking department... James T. Fowler... named receiver for the Miners' State bank of Mulberry.
Source
newspapers
3. March 7, 1927 Receivership
Newspaper Excerpt
Appointment of two receivers for six of the Miller banks... James T. Fowler, cashier of the Home bank of Arcadia, was named receiver for the Miners' State bank of Mulberry ... The seven banks comprised a chain established several years ago by Jonathan G. Miller, Mulberry capitalist, and several associates.
Source
newspapers

Newspaper Articles (4)

Article from The Independent, December 10, 1926

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Article Text

THE INDEPENDENT Published Weekly By The Independent Publishing & Printing Co. A newspaper devoted to the best commercial, industrial and social interests of the city of Mulberry and Crawford County. Subscription Rates In Crawford and Adjoining Counties, Per Year $1.50 Outside the Trade Territory Per Year $2.00 HOT ON THE TRAIL The Pittsburg Sun put Sheriff Turkington in a new role the other morning when it said, reporting the Croweburg killing, "a 'caldron' of sheriff's deputies was thrown around the house." Did The Sun mean that Turkington keeps them in a caldron so they will stay "hot," or did it intend to say, "cordon TOLD YA SO Last spring when the miners were "marhing" on the non-union shovels and mines in the district, attorneygeneral Griffith was enlisted to stop them on the theory that the union men were attempting to coerce and abuse the non-union coal diggers. As a matter of fact, the union miners were simply trying to convince their errant brothers that they were hurting themselves as well as the union cause generally. Late developments have shown the wisdom of those who warned the non-union miners. Not very far from Mulberry is one of the openshop shovels which hired teamsters for 50c a ton. By Herculean efforts a man with a good team could make about $5.00 a day. The union wage scale called for about $7.00 a day for this kind of work. If they had not worked at this small figure, the operator would of course, been foreed to pay the wage scale fixed by the union contract. So they, or some miner, lost a couple of dollars every day they worked. But to add insult to injury, the shovel in question has now purchase tractors and the erstwhile nonunion men are thrown out of even their 50c a ton job. The union won't reinstate them so they can't go to work at some union mine. But the union men have the satisfaction of saying, "We told you so." THE MINERS BANK Since the failure of the Mulberry State Bank, local citizens have come to realize the value to a community of a safe and sound financial institution such as the Miners State Bank. Merchants here have seen what one bank failure can do to a community; think what it would have mean't to Mulberry had the Miller bank also been forced to close its doors. The very fact that it withstood the unusual strain of caring for the financial needs of a community or dinarily served by two banks, gives an idea of its financial calibre. Following the Mulberry State failure, the resultant demands on the remaining bank amounted almost to a run, but the bank was never in any danger, and it has come through a hard summer and fall in as good shape as any bank in the state. And in it all is an example of the value of individuals. Without John Miller, the Miners State Bank might easily have gone the way of its neighbor. The financial and business size of Mr. Miller practically guarantees the security of any concern with which he is connected.


Article from The Cincinnati Enquirer, March 5, 1927

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Article Text

TWO SHORTAGES FOUND. Funds Missing in Banks Closed in Kansas Last Week. Pittsburg. Kan., March Developments today the closing last week seven chain banks Southeastern Kansas brought to light shortages in of the the Farmers' State, Englevale, and the Miners' State, at Mulberry. and involved cashier and bookkeeper. Arrest of Webb. cashier of the bank at Englevale. on charges of shortage of $3,500 was G. Rinchart, of the bank of Mulberry. has been missing the before his bank closed. A shortage of than $5,000 has been discovered In his accounts.


Article from The Cincinnati Enquirer, March 5, 1927

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Article Text

TWO SHORTAGES FOUND. Funds Missing in Banks Closed in Kansas Last Week. March today the closing week chain in Kansas brought light shortages in two of the banks the State, at Englevale, and the Miners' State, at and Arrest cashier of the bank at charges of shortage of bank of Mulberry. has the closed. A shortage of more than has been discovered in his accounts.


Article from Carthage Evening Press, March 7, 1927

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Article Text

BANK RECEIVERS ANNOUNCED Three to Handle Affairs of Closed Miller Chain Pittsburg, Kans., March 7. Appointment of two receivers for six of the Miller banks, closed ten days ago by the state banking department, was announced by Roy Bone, state bank commissioner. James T. Fowler, cashier of the Home bank of Arcadia, was named receiver for the Miners' State bank of Mulberry, the Commercial State bank of Arma and the Farmers' State bank of Englevale. George L. Stevenson, Pittsburg lawyer, was appointed receiver for the Pittsburg State bank, the First State bank of Cherokee and the Farmers' State bank of Opolis. Appointment of Fred Bayless, Fort Scott lawyer, as receiver for the Midwest State bank at Fort Scott, was announced Saturday. The seven banks comprised a chain established several years ago by Jonathan G. Miller, Mulberry capitalist, and several associates.