8968. Bank of Elkland (Elkland, MO)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
May 1, 1930*
Location
Elkland, Missouri (37.443, -93.031)

Metadata

Model
gpt-5-mini
Short Digest
fb8838e0fa7a160c

Response Measures

None

Description

Articles (May–June 1930) report a run on the Bank of Elkland that forced directors to close the bank and turn it over to the State Finance Department; a later notice (June 24, 1930) indicates the State is in charge (receiver). One article links the run to a recent neighboring Grove Bank closing, so the immediate trigger is classified as distress at local banks.

Events (3)
1. May 1, 1930* Run
Cause
Local Banks
Cause Details
Reports indicate continuous withdrawals precipitated by recent closing of the neighboring Grove Bank, leading depositors to withdraw funds.
Measures
None noted beyond directors closing the bank and turning it over to the State Finance Department.
Newspaper Excerpt
a run on the bank for the past several days being the cause
Source
newspapers
2. May 1, 1930* Suspension
Cause
Local Banks
Cause Details
Directors closed the bank after continuous withdrawals (a run) that the bank's assets could not meet quickly enough; closure was effected by directors who turned bank over to state finance authorities.
Newspaper Excerpt
Officers and directors of the Bank Elkland closed the bank last week and turned over the State Finance Department.
Source
newspapers
3. June 24, 1930 Receivership
Newspaper Excerpt
State of Missouri in charge the business and property said bank. Special Deputy charge.
Source
newspapers

Newspaper Articles (5)
1. May 24, 1930 Springfield Leader and Press Springfield, MO
Article from Springfield Leader and Press, May 24, 1930

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Article Text

SMALL WEBSTER CO. BANK IS SUSPENDED JEFFERSON CITY, May Bank of Elkland at Webster county, which had total was closed day by its board of directors and turned over to the state finance partment. Truman Richards, state bank examiner, has been directed to there and take charge. The bank's last statement showed had $10,000 capital, $10,000 surplus, deposits, $64,390 loans and $18,000 bills payable. Dailey was president and Lowder cashier. Elkland has population less than and insufficient business justify continuing bank. COSTLY GOWNS the fashion's raiment for society gowns gold and Through perfected. sprayed on gowns velvet. Needless since gold and used the percent pure, the dresses

2. May 29, 1930 The Conway Weekly Record Conway, MO
Article from The Conway Weekly Record, May 29, 1930

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Article Text

Close Elkland Bank The Bank of Elkland, at Elkland. Mo., was closed last week by the be paid in fuil.

3. May 29, 1930 The Marshfield Mail Marshfield, MO
Article from The Marshfield Mail, May 29, 1930

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Article Text

Bank of Elkland Is Closed By Directors Officers and directors of the Bank Elkland closed the bank last week and turned over the State Finance Department. that continuous withdrawal deposits for several forced the officers to close the assets could not turned fast enough to meet the demands of calling for their believed that the depositors paid in full. learned whether an effort the bank reported that the closing Grove Bank recently, neighboring institution, cause the run on the bank.

4. June 5, 1930 Houston Republican Houston, MO
Article from Houston Republican, June 5, 1930

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Article Text

STORY TELLING HOUR AT THE LIBRARY Thirty children listened intently to the stories told by Mrs. James Rutherford last Saturday afternoon. We would suggest that everyone be on hand at 3 o'clock so as not to miss any of the stories. Mrs. Clarence McCaskill in charge next Saturday. Librarian. The Bank of Elkland, at Elkland, Mo., was closed last week by the rectors, a "run" on the bank for the past several days being the cause, is said. It is thought depositers will be paid in full.

5. September 11, 1930 The Marshfield Mail Marshfield, MO
Article from The Marshfield Mail, September 11, 1930

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Article Text

Notice to Creditors of THE BANK OF MISSOURI Tuesday, June 24, 1930 All who have claims the Bank Elkland, Missouri, are notified to sent the same and thereof within four months from the above rooms of said Bank, Elkthey are further notified that the last date for presenting said be Friday, October 24, 1930. of the State of Missouri in charge the business and property said bank. Special Deputy charge.