Bank of Des Arc (Des Arc, MO)

Episode Information

Episode UID
80095271481
Episode Type
Run Only
Bank Type
state
Bank ID
8009527 routing
Routing Number
80-0952
Start Date
May 24, 1923
Location
Des Arc, Missouri (37.283, -90.637)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
561a20dd54046db1

Response Measures

None

Events (1)

1. May 24, 1923 Run
Cause
Rumor Or Misinformation
Cause Details
A factional quarrel produced an erroneous report that the bank was insolvent, triggering heavy withdrawals.
Random Run
Yes
Random Run Snippet
Erroneous report circulated that bank was insolvent; later corrected
Measures
Cashier wired state banking department requesting an examiner; state examiner inspected and ordered bank to continue business.
Newspaper Excerpt
The Bank of Des Arc failed to open its doors here this morning ... it is thought here that a factional quarrel among some of the depositors had resulted in heavy withdrawals, which frightened the cashier
Source
newspapers

Newspaper Articles (8)

Article from Poplar Bluff Republican, May 24, 1923

Click image to open full size in new tab

Article Text

DES ARC BANK CLOSES DOORS ACCOUNT RUN Special to The Republican: Des Arc, Mo., May 24.—The Bank of Des Arc failed to open its doors here this morning and it was learned that Cashier Goode had wired the banking department at Jefferson City asking him to take charge of the bank. It is thought here that a factional quarrel among some of the depositors had resulted in heavy withdrawals, which frightened the cashier, and the only protection he had was to appeal to the banking department to stop the "run." The Bank of Des Arc has been one of the good little banks of this section of the state. It is capitalized at $10,000, but maintains a good surplus and undivided profit. Stock in the bank recently sold for $135 and it has been a dividend-payer for a number of years. Depositors feel that the bank is solvent and that when the community regains its good feeling all will be well with the bank. N. A. Farr is president and J. T. Bunyan is vice-president.


Article from Daily American Republic, May 25, 1923

Click image to open full size in new tab

Article Text

DES ARC BANK NOT INSOLVENT NIEMAN STATES Erroneous Report Must Be Corrected, He States. Roy Nieman, state bank examiner, has demanded a correction of a published account carried by a Popular Bluff newspaper yesterday regarding the erroneous report that the Bank of Des Arc, Des Arc, Mo., has failed to open its doors as the result of a run on the bank. Nieman's statement this morning was as follows: "There has been a fractional fight on in the official family of the Des Arc Bank and through some one there was a report went out that the bank was insolvent and a run was started on it. I was in St. Joseph, Mo. when I was wired that a run had started on the bank. I arrived in Des Arc Thursday afternoon and went immediately to the bank where I conducted an examination and found the bank in an A. 1 shape. I ordered that it continue with its business. I at once advised that a grand jury be called to investigate who started the report. It is a penitentiary offense to circulate such a report." During the interview Nieman was interrupted by a telephone call from Des Arc and he told that he was correcting the error through the assistance of the American in Poplar Bluff. E. W. Graves, of this city, is a charter member of the Bank of Des Arc. He states it is unfortunate that such a damaging report should be made about the institution which is one of the most secure smaller banks in the state.


Article from The Daily Republican, May 25, 1923

Click image to open full size in new tab

Article Text

DES ARC BANK IN GOOD SHAPE SAYS EXAMINER Des Arc, Mo., has awakened to the fact that factions are not good for a town. Because somebody did not like somebody else, a run was started on the bank at that place Wednesday and the newly-elected cashier not knowing what would happen and taking the precaution of a prudent man called on the state department to send a man at once to inspect the bank so that the people could be assured that everything was well. Roy Nieman, deputy bank examiner, came to Poplar Bluff from Des Arc this morning and says the Bank of Des Arc is in excellent condition, not a thing in the world the matter with it, and that the cashier, Mr. Goode, called on the department for an inspector when he saw unnecessary withdrawals being made from the bank. Mr. Nieman was at St. Joseph attending a convention of bankers and was directed to go at once to Des Arc and look the matter over. He arrived there at 2 o'clock yesterday. The bank had gone ahead doing business in the face of the run and had suffered no embarrassment. Mr. Nieman says that it is his belief that someone was trying to injure the bank and he advised that a special grand jury be called to try to find the guilty parties who incited the run. The bank is going ahead as if nothing had happened, according to Mr. Nieman.


Article from Poplar Bluff Republican, May 31, 1923

Click image to open full size in new tab

Article Text

DES ARC BANK IN GOOD SHAPE SAYS EXAMINER (From Friday's Daily.) Des Arc, Mo., has awakened to the fact that factions are not good for a town. Because somebody did not like somebody else, a run was started on the bank at that place Wednesday and the newly-elected cashier not knowing what would happen and taking the precaution of a prudent man called on the state department to send a man at once to inspect the bank so that the people could be assured that everything was well. Roy Nieman, deputy bank examiner, came to Poplar Bluff from Des Arc this morning and says the Bank of Des Arc is in excellent condition, not a thing in the world the matter with it, and that the cashier, Mr. Goode, called on the department for an inspector when he saw unnecessary withdrawals being made from the bank. Mr. Nieman was at St. Joseph attending a convention of bankers and was directed to go at once to Des Arc and look the matter over. He arrived there at 2 o'clock yesterday. The bank had gone ahead doing business in the face of the run and had suffered no embarrassment. Mr. Nieman says that it is his belief that someone was trying to injure the bank and he advised that a special grand jury be called to try to find the guilty parties who incited the run. The bank is going ahead as if nothing had happened, according to Mr. Nieman.


Article from The Democrat-News, May 31, 1923

Click image to open full size in new tab

Article Text

The Bank of Des Arc failed to open its doors here this morning and it was learned that Cashier Goode had wired the banking department at Jefferson City asking him to take charge of the bank. It is thought here that a factional quarrel among some of the depositors had resulted in heavy withdrawals, which frightened the cashier, and the only protection he had was to appeal to the banking department to stop the "run." The Bank of Des Arc has been one of the good little banks of this section of the state. It is capitalized at $10,000, but maintains a good surplus and undivided profit. Stock in the bank recently sold for $135 and it has been a dividend-payer for a number of years. Depositors feel that the bank is solvent and that when the community regains its good feeling all will be well with the bank.—Poplar Bluff Republican.


Article from The Daily Republican, May 31, 1923

Click image to open full size in new tab

Article Text

DES ARC BANK IN GOOD SHAPE SAYS EXAMINER (From Friday's Daily.) Des Arc, Mo., has awakened to the fact that factions are not good for a town. Because somebody did not like somebody else, a run was started on the bank at that place Wednesday and the newly-elected cashier not knowing what would happen and taking the precaution of a prudent man called on the state department to send a man at once to inspect the bank so that the people could be assured that everything was well. Roy Nieman, deputy bank examiner, came to Poplar Bluff from Des Arc this morning and says the Bank of Des Arc is in excellent condition, not a thing in the world the matter with it, and that the cashier, Mr. Goode, called on the department for an inspector when he saw unnecessary withdrawals being made from the bank. Mr. Nieman was at St. Joseph attending a convention of bankers and was directed to go at once to Des Arc and look the matter over. He arrived there at 2 o'clock yesterday. The bank had gone ahead doing business in the face of the run and had suffered no embarrassment. Mr. Nieman says that it is his belief that someone was trying to injure the bank and he advised that a special grand jury be called to try to find the guilty parties who incited the run. The bank is going ahead as if nothing had happened, according to Mr. Nieman.


Article from Iron County Register, June 7, 1923

Click image to open full size in new tab

Article Text

LOCAL BREVITIES. The month of roses. The cherries are ripe. Anything doing on the 4th of July? Time to think about it. No announcement yet as to who will be Ironton's new postmaster. Timber buyers seem to be more plentiful than they have been. Some people say that there is a local organization of the Kuklux Klan. The odor of the oil on the street is not like unto that of the June rose. Wanted—A girl to do general housework. Apply to Mrs. Lee Davis, Arcadia. Trains are running pretty well on time these days. Hats off to Mr. Baldwin. John Naef, the tinner, put a roof on the tower on the Academy Theatre building last week. Miss Eleanor Conway, Teacher Piano, Voice. Terms on application. New Ironton Hotel. The observation of Decoration Day in the valley was quiet and the usual program was enacted. Is the proposed hotel in north Ironton going to wreck and ruin without ever being finished? Fletcher & Barger last week sold a sixteen-passenger bus to be operated between Glover and Centerville. Some fine strawberries have been on the market the past week. They were late in coming but delicious when they got here. There is a story floating around to the effect that a bunch of masked men one night recently "waited" on an Arcadia man. Judge Dearing was in Ironton last Saturday on his way home to Potosi from Centerville where he had been holding court. Dr. Marshall is in receipt of a letter from Mr. A. M. Madigan, of Colton, California, wherein he says he expects to visit Missouri friends this month. "The Magic Ring," a romantic comic opera, and a musical program were rendered by the students in the Arcadia College Auditorium Sunday evening. Manager Myers informs us that because of the increase in the use of current it will be necessary to install another engine and boiler at the light plant. John Robinson and family of Des Arc arrived here by automobile Monday. They left home Sunday morning, but were greatly delayed by high water. The work of remodeling the Iron County Bank building and enlarging the bank's quarters will be inaugurated as soon as Contractor Tual can get to the job. Carpenters are scarce and the contractors have more than they can do. J. H. Carl, who has been operating a saw mill at Dillard in Crawford County for some time past, was in Ironton last Saturday. Mr. Carl tells that he expects to move his mill to Dent County, near Salem, in the course of a few weeks. The work of oiling the streets required about all of last week. It was the largest shipment ever received here—10,000 gallons. Practically all of the streets in Ironton were oiled, and there was oil left to sell several tanks to parties in Arcadia. The gratifying announcement is made that Mrs. Chas. J. Tual, who is in the Baptist Sanitarium in St. Louis, recuperating from a very serious surgical operation, continues to improve and hopes to be able to come home before so many days more. Mr. Schaefer has ordered an exhaust fan which he hopes to have in place in the Academy Theatre within the next week. This, with the revolving and oscillating fans already in the place, ought really to make the Academy "the coolest place in town." Mr. S. L. Powers of the T. J. Moss Tie Co. informs us that he started the big drive of that Co. down Middle Fork and West Fork Monday of this week. It is expected that this will be one of the largest tie drives ever taken down to Clearwater.—Centerville Outlook. Dr. E. Zimmer, who left here two weeks ago en route to Michigan on a vacation, writes that he is in a hospital in Marion, Indiana, where he has undergone a surgical operation. He is doing nicely, however, and hopes to proceed on his way to Michigan in a few days. Klinhart Bros., owners of Lake Killarney, are organizing a club to be known as the Lake Killarney Park Association. The object is to improve Lake Killarney and surroundings. The promoters say that they are receiving much encouragement in the sale of memberships—from residents and St. Louisans. An adjourned term of the Jefferson county circuit court will convene at Hillsboro next Monday for the purpose of trying the cases against L. A. Cook, former cashier of the Bank of Ironton, on charges of receiving deposits when he knew that the bank was in an insolvent condition. The REGISTER is always glad to get the news and is most thankful for any item sent in. But please do not wait until Tuesday to send your news in if you can possibly get it here before that time. Of course, an important item of news we are thankful to receive, even up to the hour of going to press. One swallow hardly makes a summer. Do the city authorities think that the arrest of a half dozen motorists for failure to have "tail lights" is all that is necessary to the enforcement of the law? Cars have been traveling up and down Main Street every night the past week without the pretense of a tail light. Get them. It is earnestly requested by the Mayor of the City of Ironton and the Board of Aldermen that all the citizens see that all trash and especially that all weeds be kept cut in front of premises. Now that the streets have been oiled and everything is in shape, the board asks that all the people keep the weeds out, and by co-operating in this, we will help to make our city look much better. Annapolis expects to let the contract for a $9,000 school building in a few days. The bonds were voted at the spring election. The tax in the Annapolis district for all purposes in this year is almost three cents on the hundred dollars valuation. Pretty stiff tax that. With a prospective increase of about $300,000 in valuations in the district next year it will then be possible to lower the rate considerably, it is hoped. The following is reproduced from last week's Farmington News: "H. R. Ameling, president and general manager of the Ameling Prospecting Co., who arrived in Farmington yesterday to superintend the prospecting operations on the Ed Klein farm, near the mouth of Wolf Creek, told the News yesterday that in his 22 years' experience in drilling the Annapolis Lead Company had the finest body of ore he had ever drilled. This is the company of which Mr. S. H. Clark, formerly St. Joe superintendent at Leadwood, is general manager. The Ameling Company located this ore body for Mr. Clark." From last week's Fredericktown Democrat-News: "Mrs. Jessie Boardman motored over from her home at Arcadia Tuesday and attended the Marvin College commencement exercises. She is engaged as teacher in the Ironton schools and expects to attend the State University this summer. She tells us that her brother, Joseph, this year finished his course and received his Master's degree from Columbia University, New York. She tells us also that her brother, Milton, is again in poor health and has had to give up his work in Mexico and enter a sanitarium. He spent some years as a missionary in Cuba but developed lung trouble and had to return to the states. The church then sent him to a post in Mexico as head of a school where it was believed the climate might benefit him. His many friends here hope for his speedy recovery." Poplar Bluff Republican: "The Supreme Court of Missouri today handed down a decision in the Begley-Ruth case in favor of the defendants, Mrs. George Begley, Sr., and Mrs. Effie M. Ruth of this city. The case was argued Tuesday, May 1, before the Supreme Court en banc, by attorneys Ed L. Abington of the law firm of Abington & Abington and Sam M. Phillips, representing the defendants. In January, 1922, the case was first argued before a division of the Supreme court, composed of four members. This division reached a favorable decision, with exception of one dissenting justice. At the time irregularities were found in the affairs of George Begley, Jr., the Mississippi Valley Company presented a note for $70,000 and bearing the signatures of the elder Begley and Mrs. Ruth. Both denied signing the paper, but later a new note was made and signed by Mr. Begley and Mrs. Ruth, with the understanding that the Trust Company would not cause young Begley to be prosecuted under the criminal laws of the state. The decision of the Supreme Court was based on the defendants' claim that the note in question was signed under duress and that such an agreement tended to stifle criminal prosecution, thus making the note illegal and void." Poplar Bluff Republican: "Des Arc, Missouri, has awakened to the fact that factions are not good for a town. Because somebody did not like someone else, a run was started on the bank at that place Wednesday, and the newly-elected cashier not knowing what would happen and taking the precaution of a prudent man called on the state department to send a man at once to inspect the bank so that the people could be assured that everything was well. Roy Nieman, deputy bank examiner, came to Poplar Bluff from Des Arc this morning and says the bank of Des Arc is in excellent condition, not a thing in the world the matter with it and that the cashier, Mr. Goode, called on the department for an inspector when he saw unnecessary withdrawals being made from the bank. Mr. Nieman was at St. Joseph attending a convention of bankers and was ordered to go to Des Arc at once and look the matter over. He arrived there at 2 o'clock yesterday. The bank had gone ahead doing business in the face of the run and had suffered no embarrassment. Mr. Nieman says that it is his opinion that someone was trying to injure the bank and he advised that a special grand jury be called to try to find the guilty parties who incited the run. The bank is going ahead as if nothing had happened, according to Mr. Nieman."


Article from The Democrat-News, June 7, 1923

Click image to open full size in new tab

Article Text

Roy Nieman, state bank examiner, has demanded a correction of a published account carried by the Poplar Bluff newspaper Thursday regarding the erroneous report that the Bank of Des Arc, Des Arc, Mo., has failed to open its doors as the result of a run on the bank. Nieman's statement Thursday morning was as follows: "There has been a fractional fight on in the official family of the Des Arc Bank and through some one there was a report went out that the bank was insolvent and a run was started on it. "I arrived in Des Arc Thursday afternoon and went immediately to the bank where I conducted an examination and found the bank in an A-1 shape. I ordered that it continue with its business. I at once advised that grand jury be called to investigate who started the report. It is a penitentiary offense to circulate such a report."—Poplar Bluff Democrat.