8872. First National Bank (Brunswick, MO)

Bank Information

Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
national
Bank ID
4083
Charter Number
4083
Start Date
October 15, 1931
Location
Brunswick, Missouri (39.423, -93.130)

Metadata

Model
gpt-5-mini
Short Digest
0a92fd12a360e960

Response Measures

Full suspension

Receivership Details

Depositor recovery rate
11.5%
Date receivership started
1931-10-16
Date receivership terminated
1937-10-20
OCC cause of failure
Economic conditions
Share of assets assessed as good
13.2%
Share of assets assessed as doubtful
57.8%
Share of assets assessed as worthless
29.0%

Description

Newspapers report a run/heavy withdrawals forced the First National Bank of Brunswick to close on Oct 15, 1931. Although there was talk of reopening then, subsequent reports show a federal receiver was appointed for the First National Bank of Brunswick in July 1934, indicating the bank did not resume normal independent operations and was taken into receivership. OCR errors corrected where obvious.

Events (5)

1. July 30, 1889 Chartered
Source
historical_nic
2. October 15, 1931 Run
Cause
Local Banks
Cause Details
Steady/heavy withdrawals; noted as the fourth Chariton County bank to close in the prior three weeks (contagion from local bank failures).
Measures
Plans were reportedly under way to reopen the bank soon and officials said there would be no loss.
Newspaper Excerpt
The First National Bank of Brunswick ... was closed today owing to heavy withdrawals.
Source
newspapers
3. October 15, 1931 Suspension
Cause
Local Banks
Cause Details
Bank was closed due to steady withdrawals amid multiple county bank failures; board/management closed the depository for payments/operations as a result of the run.
Newspaper Excerpt
RUN CLOSES BRUNSWICK BANK. ... Steady withdrawals the reason for closing Plans are under way reopening the bank soon and officials of the bank say there will be no loss
Source
newspapers
4. October 16, 1931 Receivership
Source
historical_nic
5. July 20, 1934 Receivership
Newspaper Excerpt
S. A. Browning ... assumed his new duties as receiver for six national banks ... First National bank of Brunswick ... following his appointment by F. G. Awalt, acting comptroller of the currency.
Source
newspapers

Newspaper Articles (5)

Article from The Lexington Advertiser-News, October 15, 1931

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Article Text

RUN CLOSES A BANK. (By the Associated Press.) MOBERLY, Mo., Oct. 15-The First National Bank of Brunswick, a town near here, was closed today owingto heavy withdrawals. The institution, the fourth bank in Chariton county to close in the last three weeks, had $388,200 total resources, $249,626 deposits and $50,000 capital.


Article from The Kansas City Star, October 15, 1931

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Article Text

developed from the constant bombardment victim's body by alpha particles emanating from the radium stored in the bones, he plained This suggests methods for producing cancer But more important it suggests that, since very small of radium taken into the bodies of the watch dial painters quickly produced cancers, the other forms of cancer in man may be the result much smaller amounts of radioactive present in the body over much longer of time These be too small to measure or even to detect by present Getting tired of waiting for the rabbit the Bob Cat had come to look for him. "What have you in that basket?" snarled the Bob "Carrots! Nothing but carrots answered Uncle Wiggily politely "Take look and see for yourself, he invited, raising the cover. And no sooner had he done that than something alive jumped out of the basket. the Bob Cat on the and cried "Boo!" ran the Bob Cat frightened by Uncle Wiggily's surprise basket Oh, you want know who jumped out, do you? Well, was Baby Bunty She had happened and, seeing the empty basket she filled it with and then in herself, she fell asleep But she in time jump out and surprise the Bob Cat. Tomorrow Uncle Wiggily and Kittie's Piece. RUN CLOSES BRUNSWICK BANK. A Depository at Versailles, Mo., Also Fails Open. (By BRUNSWICK Mo., Oct. National Bank here failed open today the fourth Chariton County bank to since September 23, when the of Brunswick failed here. First National Bank had of $388,207.11 and deposits of $249,626.03 Steady withdrawals the reason for closing Plans are under way reopening the bank soon and officials of the bank say there will be no loss VERSAILLES Mo. Oct. First National Bank of Versailles was "closed by order of the board of directors today W Buell was president and Beatrice Sherill cashier CHICAGO SCHOOLS AT CRISIS. Teachers, Unpaid. Talk Move to Close Them November CHICAGO Oct Side school teachers, after told today their chances of getting financial relief through bond issues were small, referred to committee proposal that the city's schools be closed November for money. The proposal to close the schools was put forward by Clyde A. Crowley, teacher, who said that the North Side teachers already had the plan under consideration. By closing the schools, Crowley said, Chicago's citizenry would made to realize more fully the plight of the teachers who have not received any pay for several months.


Article from Kansas City Journal, July 20, 1934

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Article Text

NAMED BANK RECEIVER Chillicothe Man in Charge of Six. (UP) S. A. Browning of Chillicothe Friday assumed his new duties as receiver for six national banks in this area following his appointment by F. G. Awalt, acting comptroller of the currency He succeeds E. B Todd of Nevada in supervision of the First National bank of Chillicothe, First National bank of Ludlow. First National bank of Brookfield, First National bank of Marceline. First National bank of Brunswick and the First National bank of Sweet Springs Browning mailed his resignation as Livingston county representative in the state legislature to Governor Park. He said his resignation as receiver for four'state banks would not be forwarded until completion of dividend disbursements at state banks in Chillicothe, Wheeling. Breckinridge and Sampsel. His successor as receiver of the state banks will be named by Q. H. Moberly, state finance commissioner.


Article from Columbia Missourian, July 21, 1934

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Article Text

NEW BANK RECEIVER NAMED S A. Browning, of Chillicothe, to Take Over Federal Institutions CHILLICOTHE July 21 A. Browning, of Chillicothe, yesterday assumed his new duties as receiver for six National Banks in this area following his appointment by F. G. Awalt, acting comptroller of the currency. He succeeds E. B. Todd of Nevada, in supervision of the First National Bank of Chillicothe, First National Bank of Ludlow, First National Bank of Brookfield; First National Bank of Marceline, First National Bank of Brunswick, and the First National Bank of Sweet Springs. Browning immediately mailed his resignation as Livingston County representatve in the State Legislature to Gov. Guy B. Park, He said his resignation as receiver for four state banks would not be forwarded until completion of dividend disbursements at state banks in Chillicothe, Wheeling, Breckenridge and Sampsel. His successor as receiver of the state bank will be named by O. H. Moberly, state finance commissioner. the Potashnick truck service operating from southwest Missouri, finding the concern guilty of "deliberately and intentionally. defrauding the state out of fees that should have been paid for the purpose of maintaining the highways of the state." The commission said the truck line's scheme "consisted simply of giving to the truck drivers travel orders which would show authority to operate that particular truck for number of days, while the duplicate travel order which was to be sent to the commission (and was the only means the commission had to determine the amount of fees owned) showed much less amount than was actually due." J. Caskie Collet, commission chairman, said investigation showed that the Potashnick company had failed to pay "between $800 and $900 due the state" in extra carrier fees.


Article from The Marceline News and the Bucklin Herald, July 27, 1934

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Article Text

NEW RECEIVER AT NATIONAL BANK HERE S. A. Browning, Chillicothe, Succeeds E. B. State Representative. Browning of Chillicothe has been appointed receiver for the First National Bank here and five other national banks in this territory. Mr. Browning succeeds Todd of Nevada, who was appointed several months ago. Besides the bank here, Mr. Browning will have charge of the closed First National Banks at Chillicothe, Brookfield, Ludlow, Brunswick and Sweet Springs. The six banks have total souces of about million dollars and between 5,000 and 6,000 depositors. Mr. Browning has been resentative in the state legislature from Livingston County. Before his as a national appointment bank receiver, he was the receiver for four state banks.