Peoples State Bank - Topeka, KS

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: December 4, 1926
Location: Topeka, Kansas (39.048, -95.678)

Metadata

Model: gpt-5-mini
Short Digest: c8e34a4b

Response Measures

None

Description

Multiple newspaper reports (early December 1926) state the Peoples State Bank of Topeka will not open, that the state banking commissioner has charge, and describe it as a bank closing/failure. There is no clear description of a depositor run prior to the suspension in the provided articles. Thus this is classified as a suspension by government authority followed by permanent closure/receiver action.

Events (3)

1. December 4, 1926 Other

Newspaper Excerpt: Topeka's first bank failure in 20 years. The city had $86,000 deposit the disclosed It was Topeka's first bank failure in 20 years. Officials Are Borrowers ... the deposits the Peoples closed belonged to the city ... Records ... revealed today Carl ... former bank ... owned shares of the capital stock ... No Evidence Irregularities In the management of the bank has been revealed by the state ... There will be some ... Mr. Bone ... the department has records that the following persons had borrowed from bank between 11 and the date of closing ... Jonathan M. Davis ... former governor ... had borrowed $2250 ... Cashier R. Coffey ... $1650 ... etc.
Source: newspapers

2. December 4, 1926 Receivership

Newspaper Excerpt: Paper ... reports ... People\'s State Bank of Topeka will not open for business today ... Bone, state banking commissioner has charge of the institution.
Source: newspapers

3. December 4, 1926 Suspension

Cause: Government Action
Cause Details: State banking commissioner (Bone) took charge of the institution and the bank did not open for business; closure appears to be by state banking authority.
Newspaper Excerpt: People's State Bank of Topeka will not open for business today, according to reports from the Kansas Capital. Bone, state banking commissioner has charge of the institution.
Source: newspapers

Newspaper Articles (6)

1. December 4, 1926 Jefferson City Tribune Jefferson City, MO

Article from Jefferson City Tribune, December 4, 1926

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$18,340 Paper of Nixon Farm Loan Company Also Found in the Institution. (International News KANSAS CITY, Mo., Dec. under oath of secrecy and cannot discuss the transactions of our This was the statement of Laughlin, president of the closed Trust Company here when asked today to comment reference reports about of Carl Peterson, Kansas City bank commissioner, Charles U. Becker, Missouri secretary of state and others alleged to have been held by the bank for $18,840 has been found the Federal Bank's assets among signed by Charles U. Becker, according investigators. Paper of the Nixon Farm Loan company of Boonville, Mo., which cently failed and other unsecured notes have been found was said by investigators who have filed the ports with the Jackson County corder's office. People's State Bank of Topeka will not open for business today, cording to reports from the Kansa Capital. Bone, state banking commissioner has charge of the institution. Carl Peterson owned ten shares of the bank stock. It was said however the closing of the Topeka Bank was not directly as result the closing of the Federal Trust Bank. note for $29,000 unsecured by the Topeka institution has been found the Federal Bank assets.

2. December 4, 1926 Joplin Globe Joplin, MO

Article from Joplin Globe, December 4, 1926

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HOPE FOR EXPRESSED BY OFFICERS OF Topeka, Kan., Dec. today the capital city experienced of bank in twentyfirst closing People's State when the years asked the state banking Bank to take charge of partment fairs. Hope for was by officers of the pressed tonight Bone, state bank bank. Roy directed Obercommissioner, bank commiswortmann, deputy assist officers and disioner, to efforts to reopen the rectors stitution without loss to depositors. records in the state banking The show that Carl department who was bank commisin of sioner the Davis. ten shares Governor owns bank's capital stock, which the who totaled $10,000. attorney Governor was pardon Davis' was one the directors. totaled There Deposits surplus of $5,500. The operated under the stitution Reports that more than law. half the deposits city of funds, could be verified peka because the city treasurer attend funeral. Shawnee had deposited in the according to Tom Boyd, bank, county treasurer.

3. December 4, 1926 The Kansas City Star Kansas City, MO

Article from The Kansas City Star, December 4, 1926

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The Failure Has No With Peoples of Topeka. TOPEKA BUREAU STAR TOPEKA Earleton State Bank Neosho County closed to day order of the board of directors bank has connection with the failure of the Peoples State Bank Topeka or the Federal Trust Terminal Trust companies of Kansas and G. Banks was cashier of the bank The capital was $10,000 and surplus $2,000 The the loans and the bank had $5,000 of borrowed money GOSSIP OF SOCIETY Mrs Black will entertain with bridge luncheon Wednesday Mrs Algernon was the host at the Hotel honor Mrs Finke Finke. Mrs Helen Rush Mrs LeRoy Clayton of Joplin and Mrs Harvey Dougherty Mrs O. Neel and daughter, Margaret Almeda, of Rochester are guests of Neel's Mrs. Margaret Smith. will return home Thursday Mrs. Raymond Teall entertained luncheon today for her small Mary by party at the playlet Day Oz. which was given at the Kansas City Athletic The guests Frankie Ricksecker. Joan Tureman and Virginia Clark and Mrs W Schooler their guest Mrs. W. E. Warrick of Aransas Tex Mrs. Edward Bishop and children, Margaret Joyce. have guests Bishop's mother. Mrs returned their home in Bristow, Ok Mrs. Martha 3022 Forest has from four months' in Los Angeles meeting American Broadway meeting the police Elliott and George Monday Hotel Thursday meet Saturday Kappa speak on

4. December 4, 1926 Sapulpa Herald Sapulpa, OK

Article from Sapulpa Herald, December 4, 1926

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Sport Summary NEW world's foremost up appetizer for New York's forty first International six day bike race with series spring races Madison Square Garden tonight. The long race starts tomorrow night. New Orleans, and "Kid" Lencho San Antonio will box here on December 10. for the southern bantamweight championship, it was announced here today. HARD TO MEET PAYROLL Dec. in meeting the monthly payroll expected by the City of Topeka following the closing of the People's State bank here. The city had $86.000 deposit the disclosed It was Topeka's first bank failure in 20 years. NEW BOOKS AT THE LIBRARY Book of the United States." by Singmaster foremostly taining. the fascinating story the building and growth of our country. While history highly instructive and recom mended to school children of ages. Toy Shop" by Maud Lindsay reminds one that the Christmas sea son approaching. A lovely little lady owns this toy shop and there different story for every toy. Small children will love this book In the children's room several tractive magazines invite the young patrons to spend an hour this quite atmosphere. For the very little folks there is "The John Martin's Magazine" with many little games. funny pictures: short verses and stories in large print "The Child Life" especialy attractive girls, having stories, cooking recipes and how make things all by beautiful Illustrations. For the boys there "The American Boy' full of wholetales adventure. "The Boys' Life." the official organ of the Boy Scouts of America. Among new books received by the adult department Cherry Square' Grace Richmond promises one the most popular By the author of "Red Pepper Burns" seems to even surpass her former book in glowing romance. and heartstirring enchantment. Interesting to and women In "Out the Clay," by Harriet Comstock we have the old prob lem of divorce, presenting entirely phase. The "What becomes the children of divorced parents" answered in this most moving novel. Saturday afternoon o'clock of the city vited to come to the library and en hour of story telling and hear plans that are under for "Christmas Story Hour Party.'

5. December 5, 1926 Wichita Falls Times Wichita Falls, TX

Article from Wichita Falls Times, December 5, 1926

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BANK MISSOURI CLOSES AFTER City of Topeka, Kan., Is Heavy Loser Result Closing Of Bank in That City board directors of Southern of yesterday and late today the bank notified finance charge. Officials Are Borrowers Dec. 4. of the deposits the Peoples closed belonged to the city of the banking department None of funds protected by because the bank under the the state fund declared by court. of tion Records in state banking partment revealed today Carl former of Peterson bank $2150 on personal Mrs. the records had her checking account Peterson owns shares of the capital The make public the status of the Peterson accounts at the time of the No Evidence Irregularities No any regularities In the management of the bank has been revealed by the state Roy state "There will be some Mr. Bone The department has rec. ords that the following persons had borrowed from bank between 11 and the date of closing: Jonathan M. Davis, former gover$2250. John Topeka, formerly treasurer Democratic state R. Coffey, cashier of the bank. $1650. M. D. Reinhardt, director of the $900. E. $1700. director and

6. January 7, 1927 Kansas State Bugle Emporia, KS

Article from Kansas State Bugle, January 7, 1927

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Entered as second class matter May 12, 1919, at the postoffie at Emporia, Kansas, under the act of congress, March 3, 1879 Subscription $1.50 - - If war is declared in Mexico let the Knights of Columbus take the lead. As we look at it, that is really their family row. Nineteen banks failed in Iowa in one day during these prosperous times and not one of them belonged to Carl Peterson.-Holton Signal. Down in Missouri quite a political struggle is on to select a woman as "speaker of the house" and if they succeed they will "have nothing on us" for a woman has been speaker of our house for more than forty years. The recent two million dollar appropriation by congress to the national agricultural board ought to very materially assist Secretary Jardine in his efforts to find out if bees are color-blind. Let his research for immediate farm relief continue unabated. Capt. M. G. Stevens reports to the American Society For The Promotion of Aviation that commercial aviation only accounts for eight killed last year while those kicked to death by the Missouri mule number 80--or ten times the number killed in airplane accidents. countants and bank receivers sure have a fine way of making extended researches into public and private records. Co-Operative Marketing properly functioning will eradicate a multitude of problems the actual farmer has to contend with. Of course the middlemen will fight any change that would effect the old system through which the speculators have for so long "feathered their nests." Let the growers stand firm and pat in their demands for real farm relief in the way of compulsory marketing legislation. The bank failures and consolodations continue in a decidedly numercal quantity weekly notwithstanding that Carl J. Peterson is not charged with owning stock in the failed or about to fail institutions. Just because Peterson happened to own a measly thousand dollars stock in the recently failed Peoples Bank in Topeka, every subsidized newspaper and jack-leg political tool of the big interests literally climbed all over the Ex-Bank Commissioner.