8876. Cooper County Bank (Bunceton, MO)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
June 17, 1932
Location
Bunceton, Missouri (38.788, -92.799)

Metadata

Model
gpt-5-mini
Short Digest
2e8a2a087ce1e75a

Response Measures

None

Description

Articles report a depositor run (withdrawal limit imposed) that preceded the bank's closing by its board on 1932-06-21; a state examiner was assigned and a state-appointed receiver later took charge. The bank remained in liquidation (suit by state finance commissioner). Dates derived from article publication dates; OCR corrected bank name to 'Cooper County State Bank' consistent across pieces.

Events (4)
1. June 17, 1932 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals/nervousness led officers to impose a $5 daily withdrawal limit.
Measures
$5 limit a day on depositors' withdrawals
Newspaper Excerpt
A run started on the bank Friday led officers to place a $5 limit a day on depositors' withdrawals.
Source
newspapers
2. June 21, 1932 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Board closed the bank after run and imposed withdrawal limits; no other reason given.
Newspaper Excerpt
The Cooper County State Bank at Bunceton was closed today by its board of directors.
Source
newspapers
3. July 13, 1932 Receivership
Newspaper Excerpt
Schaumburg ... appointed receiver Cooper State Bank Bunceton by the state finance department, took charge the latter part of last week. Arthur Blomquist, cashier ... assisting Mr. Schaumburg in work.
Source
newspapers
4. August 26, 1932 Other
Newspaper Excerpt
State Financial Commissioner Files Suit ... growing out of the closing of the Cooper County State Bank Bunceton, was filed in Cooper County Circuit Court yesterday.
Source
newspapers

Newspaper Articles (4)
1. June 23, 1932 The Milan Standard Milan, MO
Article from The Milan Standard, June 23, 1932

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Article Text

A BUNCETON, MO., BANK CLOSES. Bunceton, Mo., June 21.-The Cooper County State Bank at Bunceton was closed today by its board of directors. No reason was given. The bank had total resources of $343,556; loans, $293,700; deposits, $279,- 500, and capital stock of $20,000. A run started on the bank Friday led officers to place a $5 limit a day on depositors' withdrawals. F. C. Betteridge is presi- dent and A. Blomquist, cashier. The Boonville National Bank at Boonville, seat of Cooper county, was closed Thursday by order of a national who Nelson, drowned March 13 in the Lake of the Ozarks, was president. Reorganization plans almost were completed when the bank was ordered closed. George U. Freund, state bank examiner, was assigned late today to take charge of the Cooper County State Bank.

2. July 13, 1932 The Boonville Daily News Boonville, MO
Article from The Boonville Daily News, July 13, 1932

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Article Text

Takes Over Work As Bank Receiver Schaumburg of Boonville Will Be Assisted by Blomquist Bunceton Institution. Schaumburg, who appointed receiver Cooper State Bank Bunceton by the state finance department, took charge the latter part of last week. Arthur Blomquist, cashier of the assisting Mr. Schaumburg in work.

3. August 26, 1932 The Boonville Daily News Boonville, MO
Article from The Boonville Daily News, August 26, 1932

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Article Text

State Financial Commissioner Files Suit In Circuit Court. suit for against those the directors the defunct Bank of Bunceton, growing of the closing of the Cooper County State Bank Bunceton, was filed in Cooper County Circuit Court yesterday. The suit filed by Harriscommissioner of finance of the State Missouri, in charge of the assets and affairs of the Cooper County State Bank, against son Leonard, Arthur Blomquist, Snode Morris, Twillman, Geo. K. Crawford, George A. Carpenter and Arthur W. Nelson, ministrator of the estate of Arthur Nelson. deceased. The plaintiff claims that the mondue on the basis of contracts entered into by the Bank of Bunceand the Cooper County Bank for the liquidation of the assets of the Cooper County Bank. Attorneys for the plaintiff are Roach and Roach of Jefferson City, Roy Williams, and Schaumburg of Boonville. The petition and its attached hibits make 39 typewritten pages. Cornstalk Has Eight Ears Martinez, cornstalk has been produced the Gianella Brothers ranch here. With central ear of large proportions rising from the center the stem, there clustered about other five of which are almost equal in size to the central

4. August 26, 1932 The Boonville Daily News Boonville, MO
Article from The Boonville Daily News, August 26, 1932

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Article Text

To Continue Flight. Port Menier, Anticosti, Island. George Hutchinson and his flying family were to take off today in their hugh Sikorsamphibian plane today the third lap their leisurely flight. Their next will be Hopedale, Labrador. Head of Home Loan Bank Board Gets Treasury Aid. RECEIVERS ARE TO CO-OPERATE Requests Similar Action From State Finance Commissioners. Washington. Chairman Franklin Fort of the Home Loan Bank Board told the United Press Friday the administration was seeking 60-day moratorium on foreclosure all mortgages in the United States. Fort said the program included commerplants well as private homes, and that co-operation of financial institutions well as those in hands of as receivers would be sought. Chairman Washington, of the Home Loan Bank Board Fort announced today that treasury had agreed to order national cials bank receivers to suspend mortgage foreclosure for 60 days. He said the board today was telegraphing every state supervising authority requesting similar state bank receivers. He seekby general agreement to suspend ing foreclosures. Carlon, receiver of the BoonNational Bank, told the Daily News today that he had received no from the treasury department advising him of the tion taken at the behest of ChairFort. Harrison, state commissioner Finance of Jefferson City, sumably will receive the request regards state bank receivers. Such moratorium would affect the liquidation of the Prairie Home Bank at Prairie Home and the Cooper CounState Bank of Bunceton. The move, it is understood, is measure give the Home Loan Bank Board time get to functioneffectively, enough so to homes and commercial plants which in sixty days might be taken over in bank liquidation. The methor of working out the plan and any other details are not available the public.