6894. Farmers State Bank (Mulvane, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 12, 1926
Location
Mulvane, Kansas (37.474, -97.244)

Metadata

Model
gpt-5-mini
Short Digest
e8d4bb37

Response Measures

None

Description

Articles describe the Farmers State Bank being looted/embezzled by cashier John L. (Rosy) Rosecrants, the bank being suspended in February 1926 and a receiver (Barnes) being appointed Feb 18, 1926. No article describes a depositor run prior to suspension; the failure was driven by embezzlement and insolvency. Dates are taken from article publication dates and text (suspension reported mid-February 1926; receiver named Feb 18, 1926).

Events (2)
1. February 12, 1926 Suspension
Cause
Bank Specific Adverse Info
Cause Details
The bank was suspended after massive embezzlement/looting by cashier John L. (Rosy) Rosecrants, which left the institution insolvent.
Newspaper Excerpt
the closing of the Farmers State ... the suspension of the bank were legal
Source
newspapers
2. February 18, 1926 Receivership
Newspaper Excerpt
Barnes of Oxford was named today by Roy L. Bone, bank commissioner receiver for the Farmers State Bank at Mulvane ... wrecked by John L. Rosecrants, cashier, now in the state penitentiary under sentence ... for embezzlement of the funds of the bank
Source
newspapers

Newspaper Articles (5)
1. February 11, 1926 The Kansas City Star Kansas City, MO
Article from The Kansas City Star, February 11, 1926

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Article Text

'POLLYANNA' BANK THIEF ROSECRANTS PUT OUT SMILES AND SLOGANS WHILE ROBBED Cashier Role piness Town MULVANE, Feb. Mr. Rosecrants, cashier scuttled the Farmers Bank and hurried off the state Lansing, declaring he last vealed "Pollyanna" bank looter. Happiness and good have the chief "props" and paraphernalia Mul. his game tossing of his the chute using erasers bogus notes to dupe the bank aminers The cashier of the Farmers State Bank known "Roste." He ferred the name and frankly told the the bank that they might him "Rosie" when they left bonds and cash with him for keeping They called good fellow and carried his printed mottoes home hang For hound" and that also seemed part the in the system thefts and defalcations practiced by the cashier several sample thing hanging the "Rosle" took in the town's Gilt money. letters read: Farmers State Bank Lends money raise more nothing. "Rosie" had lot these slogans stuck on cards and handed them out whenever customer dropped another contribution into the deposit boxes into the till Rosecrants was busy breaking the bank. the bonds left for keeping diverting the deposits trust funds blind the savings widows, happiness personified this little He was the apostle of success ready respond with something splendid when chairman reached "man part the town programs. He could speak well grouches and how ruined smooth running policy, devotion home, the cardinal virtues which Mulvanians might have been NOTHING TO SHOW HELP NEEDY Mulvane that his speculations the bank has times He money bank just the Coffeyout bank that But there the came for crushing thievery part jovial and peppy Mr. Rosecrants the mottoes and Frances Burrus, widow young World veteran, the "needy" that figured operations the Burrus Mrs. blind helpless the home Rucker relative one of the bank blind widow cannot must lie bed. contented she Mrs Rucker had about $600 remaining insurance policy Rosecrants the widow and therefore charge her money. WOMAN LOSES Theodore Conklin, postmaster of those who kind the blind called the bank day asked examiners charge about Mrs money 22 cents the an Mr. Conklin Conklin rage while the the funds blind Rosecrants by friends the and Ho Burrus. Ben Swart and does any had the the family home had about the when was closed and her But the savings were lost in the crash. WOULD PUNISH HIM MORE the bank crash, Mr. he says happy and prison. Surely happy had stayed terrieverybody in this Rosecrants out ought be some real However, the outstanding factor $500 the depending the situation the house money for any might stronger than the senate The rearing her children alition broken any She washing rented rooms Even some the Democrats figure her keep the the Republicans got the best gether her truck dickering they like last May The $500 deposit for them bank was the from through agreed policy otherwise money not the bank plete Democratic examiner told Mrs. Palmer. leaders the and they know LOST INSURANCE

2. February 13, 1926 The Kansas City Times Kansas City, MO
Article from The Kansas City Times, February 13, 1926

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Article Text

MAY LOSE ALLA MULVANE FUND HAS CHANCE TO GUARANTY ESCAPE 1-4 MILLION PAYMENT. Hinges on Suspension Depositors' and Its Later Reinstateof Bank Which May Be Illegal. AND NEVER SHOT THE VIGILANTES. Feb. ago bankers of several Sumtowns decided to fight Vigilance committees An invitation was proposed. extended Mulvane residents and their They were given badges and arms and instructed in their new duties the meeting the bankers triends started for home was J. the Farmers State Bank of C. B. Lambe, cashier Valley State Bank of Belle proprietor of Art meat market at Mulvane: S. J. editor of the Mulvane Pat manager of light plant at Mulvane The men discussed bandits and all manner of plans to them In the car they carried high powered rifles. sawed of power was further reinforced by bright nickel stars Lambe was at Belle and the others went to Mulvan every man in the car in question has been affected by bank Mr. Lambe and Mr. Resecrants DOW are in the state for looting their respective banks and the other three Mulvane men lost all their savings the closing of the Farmers State The rifles, revolvers and badges rust. Two banks have been without any alarm be TOPEKA BUREAU THE KANSAS CITY fund escape paying the quarter of dollar loss caused by the loot. Farmers State Bank at Mul to today has been conceded the guaranty fund would be forced the loss to depositors. probability of escape from respon sibility on the part of the guaranty based upon the facts of guaranteed order effective the following cashier looted to that records refused that order pending the backed from statements and officially restore the before Peterson left Bone letter officials Mulbank the guaranteed But the question which now arises that, if the suspension of the bank were legal the mere fact that Bone letter to the Sumner County was not sufficient to restore It to the list The law prescribes how bank may enter the guaranteed list It must be done by formal application and formal record of The responsibility of the guaranty fund rests now upon whether Peterson the right to suspend the bank on one day's notice. held that months' notice is necessary to suspend There is a case now in the supreme court that will settle the legal tangle the same day Peterson suspended Mulvane bank he suspended bank Oswego. The two orders of suspen- sion were identical Subsequently the Oswego bank failed. The depositors contested the suspension order on the ground of insufficient notice. The case has been argued in the supreme court. and now is ready for decision If the Oswego suspension was legal then It is held the Mulvane suspension was legal. If It WAS legally suspended It contended It was not legally restored. and, therefore, the guaranty fund would escape the payment of the Mulvane

3. February 19, 1926 The Kansas City Times Kansas City, MO
Article from The Kansas City Times, February 19, 1926

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Article Text

INFORMED SHE WILL TO TELL STORY Waive Immunity Justice Court Hearing This Morn- of her preliminary hearcharge of plotting the death husband. Mrs. Alberdina Frank esterday informed the Jackson grand jury she would appear beand tell her story, waiving Im the law prospective defend not be called by grand jury evidence which might be used him. but it has been custom juries to hear prospective dewhen they would sign a waiver McNeese attorney for Mrs as Mrs. Lourie is known here. the grand jury room late yes- INVOLVES BABY'S CUSTODY visited also the juvenile company with Mrs. Henry mother of Mrs. Frank. Judge Porterfield was out, and Neese reveal the purpose of his visit understood. however, that Mes was prepared to move for the of the old Frank baby Rexford, in the custody of the grandFrank and Carl B. Davis. the with her of plotting death. are to have preliminary before Alex Saper justice of the o'clock this morning Whether the hearing would be waived last night, but McNeese revenled he was prepared protest against the $7,500 bond fixed for Mrs appearance. said the bond was excessive and should not be more than $2,000 He declared he was prepared obtain Mrs. Frank's release on bond today the event Mrs. Frank does not her preliminary hearing it known her contention will be that no was committed. that she was preparing to frustrate the plot when she arrested and that she had had change of heart. OVER FAILURE TO, INDICT. Failure of the grand jury to return an indictment against either Mrs. Frank Davis yesterday was subject of comment at the court house It known the grand jury has heard wit nesses in the case. The charge filed Monday it was said then. was to hold the pair pending action the grand jury The grand jury adjourned yes terday until Tuesday Mrs Frank said last night she was eager to get out of jail only to see her "Really," she declared. "jail is peace compared with my life at home. Mrs. Frank has sent for her clothing but her mother reported Frank would not give it up. She still wearing the same black satin dress last night wore when arrested last Saturday night. She said she did her laundry every day. RECEIVER FOR MULVANE BANK by Roy L. Bone. TOPEKA BUREAU THE KANSAS STAR TOPEKA. Feb. Barnes of Oxford was named today by Roy L. Bone, bank commissioner receiver for the Farmers State Bank at Mulvane This bank that was wrecked by John L. Rosecrants, cashier, now in the state penitentiary under sentence of from twelve to fifty years for embezzlement of the funds of the bank It has been estimated by the examiners for the banking department that the losses in the bank would be slightly less than Barnes was a banker at Oxford for twenty years and for the last fifteen years has been farming handling live stock and looking after some land sales and Pioneer Stonecutier Came to Kansas City in 1873. Conrad Stublman 92 years old died last night at his home 803 Southwest boulevard. Rosedale He is survived by daughter, Miss Anna Stuhlman of the home: two sons. Frank Stuhlman 1037 Cleveland avenue. and John L. Stublman, 206 Rainbow boulevard Rosedale Soon after Mr. Stuhlman came Kan sas in 1857. he paid 000 for lot on Grand avenue, immediately north of where The Star building now is. Eight years ago he sold the lot and 2-story building on it for $56,500 WORNALL HILL PLAN P TODAY Proposal to Reduce Grade Before Lower House Committee The recommendation of the city plan commission for reducing the grade from per cent to 61/2 per cent on Wornall road from Ward parkway to Fifty-first street. will be submitted to the streets committee of the lower house. at hearIng o'clock this afternoon The committee considering an an ordinance to widen the street from Ward Barkway to Westover road. TO SEE PARTY LEADERS. To Delay Senatorial Plans Pending Visits in Principal Cities of State CARTHAGE, Mo., Feb. 18. Howard Gray. former state senator will visit Kansas City, St. Louis, Springfield and Jefferson City next week for conferences with party leaders regarding his entry into the race for the Republican senatorial nomination against Senator George H. Williams. he said here today Upon his return. he will announce whether he shall be candidate Gregg Writers Give Mixer. The Central Gregg Writers club composed of eligible shorthand and typewriting girls of Central high school. gave mixer yesterday in the gym. nasium. The proceeds are to be used to send the typewriting representative spring. to Columbia for the state contest this ton will not be permitted at the George Washington party to be given Monday night lary, by the American Legion Auxil Mr. Loren Brooks will direct the musical will be presented at o'clock Thursday February benefit for interior decoration and modeling of the Oak Street Baptist 346 Douglas Kansas Kas. Mr. Brooks son of and Mrs. S. S. Brooks of Hannibal Mo Mr Noel Garrett son of Mr. and Mrs Earl E. Garrett 105 Alsey street will sing tenor parts and play banjo solos Twenty five persons will take part in the revue BARS REFRESH HIS MEMORY DEFENSE WITNESS REFUTES TESTIMONY AFTER 'VISIT' TO A CELL. After Two Hours in Jail, "Louie" Tarantolla Decides He Didn't Hear Banker Make Favorable to Youth Charged With Hold-up.

4. April 11, 1926 The Wichita Eagle Wichita, KS
Article from The Wichita Eagle, April 11, 1926

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TELLS STORY ON CRASH Alma Thompson Knew Mulvane Bank Was in Bad Condition for Years LOST ALL IN FAILURE silence many weeks, Miss Alma Thompson, accused assistant cashier the Farmers State bank tells The Eagle this morning inside facts the looting that institution by Rosecrants, cashier. story she tells faith Rosecrants, how led to own downfall. Miss Alma Thompson, former cashier the bank Mulvane, dime out the bank, other than salary few poliworked for years the when failed cent money had there. While held the of assistant cashier, she owned stock the Institution and little more employe. according as given to The Eagle, Saturday. At the of the banking Miss worked the bank for weeks, helping iners and the receiver straighten affairs of the institution wrecked defalcations "Rosy" Rosecrants. She has refused to talk for publication until this time. When Mr. Rosecrants guilty to four charges in the district court of county, he had amounting than $320,000. He is now Bert Church, county attorney, nounced would against Miss under and Her trial will come in the May term court, she has waived preliminary Born near Mulvane Miss born farm west which father homesteaded 1871. Her spent the farm. After finished grade she attended high school at Mulvane and became teacher, excellent cording patrons the districts where she taught. After teaching in country schools for nearly 10 she took State bank applied for That years She was employed by Mr. crants learned from him all she banking affairs. Thompson work $35 much days, but she could home with her parents, who had moved from the to vane. After working in the bank year, her salary raised $50 month later, during the war and high prices. $100 month, amount receiving when the failed. Knew Irregularities There the bank which Miss Thompson knew about, never -dreamed the finances institution were such Idition revealed by the examiners its failure. wanted to quit several

5. January 6, 1927 The Wichita Eagle Wichita, KS
Article from The Wichita Eagle, January 6, 1927

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WOMAN INVOLVED IN BANK FAILURE TO TRIAL AGAIN Miss Alma Thompson Faces Second Sumner Jury in Court at Wellington ACQUITTED LAST MAY Miss Alma Thompson, assistant cashier of the defunct State bank Mulvane, again will face county She will be tried in the district of Sumner county this week on charge of forgery and of accepting deposits while having knowledge that the bank insolvent. The are simllar in nature to those on which she was tried and last May. The second charges were brought by the Sumner county attorney when Miss Thompson failed plead guilty fol. lowing the bank crash. George McGill, well known Wichita attorney and candidate for United States senator at the primary during the last election, left Wichita Wednesday afternoon for Wellington. He conducting the defense of Miss Thompson Summer county sentiment was against everybody connected with the Farmers State bank of Mulvane last year, when institution failed through shortage more than $350,000. Mr. Rosecrants pleaded guilty and the state penitentiary where he facing maximum of 110 years Many Character Witnesses At the first trial Miss Thompson of the best citizens of as char acter for the accused woman. The defense out sev. eral strong arguments in her favor including her meager salary, lack of authority despite her title and the possibility that Mr. had fooled all his directors and depositors the day the closed was not unlikely that he could duped Miss who was teacher until accepting position in defense brought fact that the only practical business experience Miss Thompson had received under the tutelage of Mr. Rose crants. The jury reached verdict of not guilty after three of tion. The spectators in the court room eered when the verdict was given. It seemed strike popular note among those who attended the trial. Miss Thompson years age. She taught school near Mulvane for decade before taking position in the makes her home with her mother in Mulvane. Miss Thompson's father was pioneer in the community Realized Irregularities In an Interview granted The Eagle shortly after her arrest, Miss Thompson said she realized there bank and wanted to quit, but Mr. explained that such deals were made in all banks that there nothing wrong, while If she some of might and start the bank, and that, the would her would suffer. Miss Thompson told the time when the state banking department removed Rosecrants as cashier and how the directors reinstated him after months. This the history confirmed by the state Miss Thompson will go trial day. It is believed that the state will present considerably more evidence than at the last trial in the hopes securing conviction. However, will cover practically the same ground. Bert Church, county attor. will handle the prosecution.