State Bank (Buffalo, KS)

Episode Information

Episode Type
Run → Suspension → Closure
Start Date
March 19, 1930
Location
Buffalo, Kansas (37.710, -95.697)
Bank Type
state
Routing Number
83-0759

Metadata

Notes

The bank closed due to a quiet run triggered by the failure of the Guernsey bank in Independence, with which it shared common ownership.

Events (3)

1. March 19, 1930 Run
Cause
Local Banks
Cause Details
Failure of the Guernsey bank in Independence caused insecurity among depositors due to shared ownership.
Measures
Officials decided to close the bank to await readjustment rather than face continued lack of confidence.
Newspaper Excerpt
quiet run on the bank has been made with no deposits coming in. Bank officials felt that it would be better to close the bank
Source
newspapers
2. March 19, 1930 Suspension
Cause
Local Banks
Cause Details
Closed by officials following a run triggered by the failure of a related bank in Independence.
Newspaper Excerpt
The Buffalo State Bank in Wilson county closed Wednesday by its officers and directors.
Source
newspapers
3. June 24, 1932 Receivership
Newspaper Excerpt
C. W Johnson, state bank receiver, will pay a 10 per cent dividend to the Buffalo State... on July 2.
Source
newspapers

Newspaper Articles (3)

Article from The Eureka Herald, March 20, 1930

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Article Text

Officials Close Buffalo State Bank After

Emery, Deputy from the State Banking Department, Charge Affairs

The Buffalo State Bank in county closed Wednesday officers and directors. John Emery Fredonia, deputy from banking department charge of affairs. Mr. Emery stated that the of the Buffalo bank mixed with the failed Independence Guernsey bank. but knowledge that the younger Guernsey an influential holder has caused feeling of rest and insecurity on the depositors, and quiet the bank has been made with no deposits coming Bank officials felt that it would better close the bank and await readjustment, rather than their depositors losses and keep open in the face of lack of proper support and confidence the part some of the depositors unnecessarily alarmed. Mr. Emery stated Wednesday there would be losses the depositors and that he could to the date of opening. Geo. president the institution and Gerkin cashier.

By winning first prize the national contest this Bulletin." student newspaper Kansas State Teachers college of Emporia, has duplicated feat two years ago. Results of the contest, which sponsored by Columbia University, receivhere Tuesday. Papers classified for competition in the event basis of frequency publication and the of school. The Bulletin was entered in the division for teachers colleges, colleges, and normal schools Jessie Opal Prather. Reece, member of the reporting staff the paper.

The high school debate team composed Wilbur Evans, WilFritz Forbes and James Satchell and the coach, Ostenberg left today for where they will debate the tournament Friday and Saturday. They won the district debate Mrs. Evans accompanied the boys and will guest of her lifelong chum, Belle Cochrane


Article from Blackwell Journal-Tribune, March 20, 1930

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Article Text

Texas Negroes Are Held For Assault

LIBERTY, Texas, March being held jail here last night Tom Buckner and Robert Johnson, negroes, were spirited away to an unannounced destination today Feeling reported running high because of an leged attack by one of the negroes upon Mrs. Ramiro Rodizey yesternear Goose creek Rodizey and his were enroute from Dallas when encountered the negroes Rodizey was robbed and forced away from the car. He returned to find his wife-semiconscious negroes were caught* and brought here for keeping. They to given preliminary trial today. Buckner charged with crimassault, robbers firearms and vagrancy Johnson was charged with robbery with firearms and

TOPEKA, March two state one headed president of the Commercial Nasuspended business last week was announced the state banking department. The banks State Bank Buffalo, Buffalo, in Wilson county and the Commercial State bank Cawker Kans. Gernsey was president of the Buffalo bank.


Article Text

MAKE BANK PAYMENTS

Topeka, June 24-C. W Johnson, state bank receiver, will pay a per cent dividend to the Citizen State bank of Belle Plaine today. The Commercial State at Lindsborg will receive 10 per cent June 30, the Peoples State of Hoisington 20 per cent the same day, the Buffalo State and the Webber State 10 per cent each on July 2.