Farmers National Bank (Burlington, KS)

Episode Information

Episode UID
695501493
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
69550 national
Charter Number
6955
Start Date
May 24, 1924
Location
Burlington, Kansas (38.194, -95.743)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
94b3912f5fc6ce40

Response Measures

None

Receivership Details

Depositor recovery rate
45.2%
Date receivership started
1924-05-21
Date receivership terminated
1929-12-31
OCC cause of failure
Economic conditions
Share of assets assessed as good
38.8%
Share of assets assessed as doubtful
45.2%
Share of assets assessed as worthless
16.0%

Events (4)

1. September 14, 1903 Chartered
Source
historical_nic
2. May 21, 1924 Receivership
Source
historical_nic
3. May 24, 1924 Receivership
Newspaper Excerpt
After working for nearly two weeks to formulate a plan whereby a receivership for the defunct Farmers National bank of this city could be avoided, all efforts have failed and that institution now is in charge of Receiver N. M. Dudley of Americus, Ga. He will wind up the affairs of the bank.
Source
newspapers
4. September 11, 1925 Other
Newspaper Excerpt
Receiver of Defunct Burlington Bank Says Farmers Stopped Paying Notes. N. M. Dudley, receiver, said ... the drought has had a big effect on the collections ... he had made two dividends of 10 per cent each since he took charge of the work.
Source
newspapers

Newspaper Articles (2)

Article from The Kansas City Post, May 24, 1924

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Article Text

COOL WAVE FAILS TO CHECK SPIRIT OF CHILDREN AT ELECTRIC PARK PICNIC It was summer time today at Electric park despite the chilly breezes. Thousands of children romped, rode the merry-go-round and drank soda pop at the big outdoor picnic which was given under the auspices of the Parent-Teacher association. Upper left—Swapping concessions was the chief sport of the small boys, some of whom had been at the park entrance as early as 6 o'clock. Upper right—The greatest thrill of all, the ride on the mettlesome steel of the Racing Derby, known commonly as the merry-go-round. Lower left—The most popular hosts at the park, Sidney and Wilma, the baby elephants who were discovered early by small boys who crawled in back of the circus tent. Lower right—Two members of the chaperon brigade who were on duty at the concessions to see that there were no broken arms nor bruised noses. Defunct Bank to Receiver. BURLINGTON, KAS., May 24.—After working for nearly two weeks to formulate a plan whereby a receivership for the defunct Farmers National bank of this city could be avoided, all efforts have failed and that institution now is in charge of Receiver N. M. Dudley of Americus, Ga. He will wind up the affairs of the bank. Folks who do not like to get into a fight should avoid arguments with pacifists.—Shoe and Leather Reporter.


Article from The Emporia Gazette, September 11, 1925

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Article Text

Dry Weather Injures Bank Receiver of Defunct Burlington Bank Says Farmers Stopped Paying Notes. Special to The Gazette: Burlington, Sept. 11.-The recent dry and hot weather has had an unfavorable effect upon the receivership of the defunct Farmers National bank of this city. N. M. Dudley, receiver, said. Up to the time the drouth set in, farmers were selling off surplus corn and reducing their obligations at the bank, but when the dry weather came they stopped. Mr. Dudley sald the weather has had a big effect on the collections, but hs is unable to state definitely what the ultimate outcome may be but that it has retarded the closing of the receivership. He had had hopes that sufficient collections could b. made this summer 60 that the rest of the work could be handlec from Washington. Mr. Dudley ha. made two dividends of 10 per cen each since he took charge of th work. He said that although h cannot state positively. he think he will be able to make anoth( dividend this fall, possibly in N vember.