Article Text
THAYER, KAS., BANK CLOSES WHEN FEDERAL TRUST TIES UP CASH Nov. L. Bone, state bank this morning was advised that the board of
7031. Thayer State Bank (Thayer, KS)
Bank Information
- Episode Type
- Suspension → Reopening
- Bank Type
- state
- Start Date
- November 15, 1926
- Location
- Thayer, Kansas (37.493, -95.470)
Metadata
- Model
- gpt-5-mini
- Short Digest
21068942
Response Measures
None
Description
Thayer State Bank closed by its board on 1926-11-15 because most of its cash reserves and purchased paper were tied up in the failed Federal Trust Company (a correspondent/trust failure). The bank reorganized and reopened on 1926-12-01 with increased capital and numerous stockholders.
Events (2)
1.
November 15, 1926
Suspension
- Cause
- Correspondent
- Cause Details
- Majority of the bank's cash reserves and substantial purchased Federal Trust paper were tied up when the Federal Trust Company of Kansas City failed, prompting the board to close the bank.
- Newspaper Excerpt
- The Thayer State Bank was closed today by order of the board of directors. This is the only Kansas bank thus far affected by the closing of the Federal Trust Co... A large part of the reserves of the Thayer bank were deposited in the Federal Trust Co.
- Source
- newspapers
2.
December 1, 1926
Reopening
- Newspaper Excerpt
- Thayer State bank... opened doors again this morning after bank had... The Thayer State bank, which suspended business November 15... The Thayer State bank... reorganizing The bank has seventy-five stockholders worth approximately half million... The capital was increased from $10,000 to $15,000. Neill remains cashier.
- Source
- newspapers
Newspaper Articles (7)
Click image to open full size in new tab
Click image to open full size in new tab
Article Text
directors of the Thayer State bank in Neosho county had closed their bank's institution because large part of this reserves was up the closed City. Federal Trust company in Kansas The State bank was capitalized at $10,000. surplus of $5,000. had deposits of loans $120,000. operating under the Kansas guaranty R. Hoyt president and Neill cashier.
Click image to open full size in new tab
Article Text
ANOTHER KANSAS CITY BANK IS CLOSED Cashier Is Brother of President of Concern That Closed Last Friday. Special JEFFERSON Nov. The State Finance Department received word today of the closing of the Waldo State Bank of Kansas City. It is the forty-ninth state bank to be closed in Missouri this year. The Waldo State bank had $125,000 of State funds on deposit, but the State Treasurer said today that he was protected by bonds of $112,000 and $14,500 of real estate securities. The cashier of the bank closed today is J. G. Laughlin, brother of P. E. Laughlin, president of the Federal Trust Co. of Kansas City, which was closed Friday. Finance Department officials said there connection in the operations of the Waldo and Federal companies. The Waldo bank had deposits of $529,429, loans of $379.368, total resources of $647,693 and a capital of $100,000. The closing today was announced as action taken by the board of directors. Finance Department examiners had been making an inspection of the Federal Trust. the Kansas City Terminal Trust Co., which was closed Saturday, and the Waldo bank before the closings were announced. State Bank at Thayer. Kan., Closes; Deposits $165,000. Special TOPEKA Kan., Nov. The Thayer State Bank was closed today by order of the board of directors. This is the only Kansas bank thus far affected by the closing of the Federal Trust Co. of Kansas City. Mo. The Thayer bank had the larger part of its reserves tied up in the Federal Trust and it also had purchased a large amount of Federal paper. These two conditions brought about the et sing of the bank today. The bank had a capital of $10,000 and a surplus of $5000. There were deposits of $165,000 and loans of $129,000. Run on Kansas City Bank Turned Into Public Reception. KANSAS CITY Nov. A "run" on the Park National Bank here today was turned into a public reception with flowers and smiles. The Park National. a neighborbood bank. opened and found 200 depositors lined up to get their money. Every one was paid and then at one end of the room a man stood on a chair "I anf W. J. Bailey.' he said. "I am governor of the Federal Reserve Bank. This bank is a member of the Federal Reserve system. The Federal Reserve Bank guarantees that depositors in this bank will not lose one cent." The assembled depositors cheered and Bailey shouted: "There are 200 million dollars behind that guarantee. Balley said officials and examiners of the Federal Reserve Bank had gone over the Park National Bank's 'paper' yesterday and found the bank to be as good shape as any bank in Kansas City."
Click image to open full size in new tab
Article Text
TWO BANKS CLOSE; THIRD AVERTS RUN Kansas City Institutions Allied With Federal Trust Company Affected. By the Associated Press KANSAS CITY. November 16.--Two small banks. whose affairs were linked with the closed Federal Trust Co. here. closed yesterday and another small bank averted a run by depositors when cash reserves were called in and displayed. The Waldo State Bank. a suburban institution. and the Thayer State Bank of Thayer. Kans., were the two banks which closed. The Park National Bank. a neighborhood bank here. turned a run into A public reception when W. J. Bailey, governor of the Federal Reserve Bank of Kansas City. told about 200 depositors who had gathered that the bank was backed by the Federal reserve system and guaranteed them they would not lose "a cent. Reasons for Anxiety. Uneasiness which followed the closing of the Federal Trust Co. Friday and the Terminal Trust Co. here Saturday was blamed for the gathering of the depositors. The Waldo Bank's deposits at the time of its last statement were $536.281.31. The deposits in the Thayer bank were only $165.000. A large part of the reserves of the Thayer bank were deposited in the Federal Trust Co. The Waldo bank was a correspondent bank of the Federal Trust and J. G. Laughlin, secretary of the board of directors. was a brother of P. E. Laughlin, president of the Federal Trust Co. Both the Waldo State Bank and the Terminal Trust Co. had part of their cash reserves deposited in the downtown trust company. Officials of all the closed banks said they were sound and that they would be reorganized as soon as the affairs of the larger bank were adjusted.
Click image to open full size in new tab
Article Text
CITY SEES ROY AL PARTY. Princess Springs Wheeze and the Wife Lost Jam. Well. as Princess Ileana marked. "the royal party not have seen much Kansas but Kansas City certainly the royal party Queen Marie's train did not arrive until after dark left for St. Louis shortly after midnight Good natured crowds got out of hand and somewhat impeded the progress of the royal party the committee from the the Liberty to the Hotel where dinner was served in to American Royal for musiin honor of the home Jacob and back Rather busy six hours one might say Leaving the Mrs A Beach the mayor separ ated from the party. writer was introduced and entered the car with reed HITS CAPITAL DRAFT. Princess Nicolas. Princess lleana and Councilman George Goldman "Call what my name the Coolidge War Proposal. prince remarked Your name, said the princess with St. James A. Reed is "is sued statement Saturday assalling as right responded her brother 'monstrous fallacy' the principle of "all Heana capital indorsed by PresiHe pronounced the first part of the dent Coolidge in his Armistice day ad- word like the part "Illinois. They both laughed. dress "If such law were passed, the right like the Americans do. Prince Nicolas to life property guaranteed said by the Constitution would be abro It's English the name is Helen. the princess explained would be only one result 'What the difference asked the dollar laughing. "between hairdresser and go the entire sculptor?" chinery of trade and would Some of the party knew but they said they Senator Reed saw menace too, in the hairdresser curis up and proposal which said subject began the princess. women children the draft He while sculptor makes faces and blamed fathering the idea. busts.' cut in the prince on the theory that profiteers encouraged buffet supper was served. Governor wars. Baker Missouri Queen The proposal conscript capital and Marie Paulen of Kansas fol well power. in time lowed with Heana and Mayor of war has been urged by the American Beach was third with Mrs. Loose Legion for several THREE BANKS FAIL. ONE SAVED Federal Kansas City, Closes. Down. Beginning the closing of the Federal Trust last week. three Kansas institutions closed doors. The P. E. Laugh Iin operated apart from the deposits million Laughlin bank examiner The day the Terminal Trust Company its $30,000 was the Federal Trust Monday the Waldo State Bank cashier and secretary of the brother of E. The Waldo and banks paratively institutions run started Monday on the Park Bank and avenue. ended when governor of the Kansas City Federal Reserve Bank, told two and women in line that the Bank with 200 behind Park National was taken the bank th crowd watched. The run ended. The Thayer Bank Thayer. Kas., Monday is the only Kansas bank thus far affected by the closing of the Trust Company in Kansas City The Thayer large part its tied up the Federal Trust and also had bought large amount of Federal Trust paper. in Sears Roebuck Thefts The of an alleged out of the Roebuck in Kansas revealed this week the police with the arrest three employees. assistant auditor and garage manager former employee the company The goods valued $5,000 consisted of sets, gung and household furnishings. "WAR LOST BUT FOR U Critical Moment. Chicago- great part taken by our country the favorable clusion the World War," and 'there is little doubt the contest would have terminated had it not been that the assistance sent by America arrived at the critical moThus General Pershing. commander chief the American forces in the World War, paid tribute Armistice day to the under his command. in an address before meeting of the KIclubs here The the United States will not be far off "if the comes when public virtually bought and sold either or indirectly General Pershing "In the light recent in cer tain states.) of our citizens would modify the of se lecting candidates for office. He made plea for preparedness, tending that "if could have armed and equipped even half million men and sent to France early in 1917. the probabilities are that the war could been won that year General Pershing's Armistice day address. carried the European caused considerab abroad Marshal Foch was as he "always had Persh ing his friend and had not believed he would statement. KANSAS Grand Recommends New Law for Annual Investigations. Sweeping criticism of the management of affairs in Kansas City Kas. and Wyandotte County was set out Monday in the final of the Wyandotte County grand jury The criticism was from standpoint of onstructive improvement with to keeping the tax rate down. The jury the city work for law providing for annual grand juries.
Click image to open full size in new tab
Article Text
KANSAS BANK REOPENS AFTER REORGANIZATION Nov. P.) Thayer State bank. which pended business because failure the Federal Trust Kansas City opened doors again this morning after bank had The deposit with the Federal Trust comand without the required pany reserve when this was tied up. The Thayer State seventyapproximately The capital from $10,000. Neill mains cashier.
Click image to open full size in new tab
Article Text
THAYER BANK RE-OPENS Institution Has Been d'organized GOR RENT: 2 room furnished apt. Since Closing on November 15 with sleeping porch, 1110 Vattier. Phone 2922. 30-tf Trust company in Kansas City openFOR RENT: rooms for light houseChanute. Kans.. Nov 30 keeping, 515 Pierre. Call before The Thayer State bank, which susor after m. 30-6 Pended business November 15 because of the failure of the Federal FOR RENT: nice unfurnished er re-organizing The bank ha $35, 100ms for light housekeeping or 000 on deposit with the Federal sleeping. Reasonable price. Dial Trust company and was without the 8170. 30-6 required cash reserve when this was FOR RENT: Furnished sleeping tied up. The Thnyer State bank 511 Humboldt. 30-6 rooms, now has seventy-five stockholders worth approximately half million RENT: A pleasant sleeping FOR dollars The capital was increased room. 617 Houston. Dial 3182. 00-tf 11 $y5,000 from $10,000. A E FOR RENT 2-room furnished apt., Neill remains cashier 29-3 Woman on School Book Commission FOR RENT: Modern furnished apt. Topeka. Nov. 30 R. 29-6 826 Osage. R. Bittman of IndYependence was FOR RENT: 3 sleeping rooms, 1009 appointed by Governor Paulen today 29-3* to succeed Charles Risdon. resign- Pierre. Men preferred. ed. also of Independence. as memFOR RENT: Apartment. Ph. 2-8388. ber of the state school book commis29-6 sion.