Accommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health, Full suspension, Books examined
Receivership Details
Depositor recovery rate
62.2%
Date receivership started
1925-01-24
Date receivership terminated
1932-07-13
OCC cause of failure
Fraud
Share of assets assessed as good
52.7%
Share of assets assessed as doubtful
39.6%
Share of assets assessed as worthless
7.7%
Description
Cashier E. B. (Jack) Brasher committed suicide (reported Jan 21–22, 1925), which precipitated an incipient run. Examiners discovered bookkeeping shortages/irregularities; directors closed the bank and it was placed in hands of the comptroller/receiver. President arrested; receiver took charge. No reopening reported in the articles.
Events (5)
1.May 15, 1905Chartered
Source
historical_nic
2.January 21, 1925Run
Cause
Bank Specific Adverse Info
Cause Details
Incipient run followed the suicide of the cashier and ensuing discovery/rumors of bookkeeping shortages and irregularities on the bank's books.
Measures
Bank officials and neighboring banker (Harris) reassured depositors; attempts were made to supply currency and cash checks; directors ultimately decided to close rather than rely on chain of loans.
Newspaper Excerpt
STOP RUN Officials the First National Bank ... assurance from the president ... brought depositors. left the reported the funds the more than withdrawn
Source
newspapers
3.January 22, 1925Suspension
Cause
Bank Specific Adverse Info
Cause Details
Examination uncovered booking discrepancies/shortage (reported $9,000–$10,000 and later suggested larger amounts), prompting directors and the national examiner to close the bank and suspend operations.
Newspaper Excerpt
By order of its board of directors, this bank has closed and placed the hands of the comptroller currency ... the bank has closed today ... shortage was shown on its books
Source
newspapers
4.January 24, 1925Receivership
Source
historical_nic
5.January 27, 1925Receivership
Newspaper Excerpt
W. L. Buechle to Take Charge of Ex celsior Springs First National. ... W. L. Buechle, receiver for the closed First National Bank of Excelsior Springs, came here today ... probably will assume charge of the bank's affairs tomorrow. Mr. Buechle did not receive his commission until this afternoon ... the receiver had a long conference with Mr. Chapman, federal bank examiner ... the bank's affairs ... Meservey, president, who is liberty under bond, pending trial of charges against him for wrecking the institution.
Source
newspapers
Newspaper Articles (22)
1.January 21, 1925The Kansas City StarKansas City, MO
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SPRINGS, Mo., Baird, family physician E. B. Brasher. bank cashier, said today: Brasher children had been last fall; had been necessary for children's specialist Kansas City sequence the illness his chilMr. Brasher lost and had grown nervous had consulted relative his condiworry and disturbed rest. Mrs. Brasher also had complaining slightly; judgment Mr. act was the family. had lost considerable weight take to Kansas City. Payne the banker revolver, and Brasher night brother turnkey. morning walking. his lowered, distance from where his body found five borrowed from the turn key the banker's hand.
STOP RUN Officials the First National Bank the Brasher's been averted. the bank. received numerous from assuring the would stand the supply currency tained from Kansas bank prepared the pay received exchange for checks on their balances. moment was when Fred the the Dr Woods institu the the depositors. all but nevertheless wary their deposits. careful what do at Harris said, addressing depositors. necessity make this bank. You all get your money: your money here and would best dispersed. The assurance from the president the oldest bank brought depositors. left the reported the funds the more than withdrawn the short McCleary. owner sanitarium and prietor Kansas sent the the which posted on the window:
Excelsior Springs: their money
Shortly after Mr. Harris addressed Baird, Excelsior Springs teller's WORRY Dr. Baird. the Brasher famistatement his that Brasher's from worry over illness children. Baird Mrs. Brasher prostrated anxious she spent awaiting her night suicide. Dr. Baird Brasher destroyed the which left physician said stated the banker "could stand longer" and mention Brasher feared he losing his mind. There Mrs. Brasher and the children, Baird The physician said Brasher had mind appeared abstracted. asked prescribed. Baird Brasher to rest Brasher Orrick, Mo., before medical corps He had in the First about five whose Aubrey Funston. Shriner was children. Billie. and Mary Ann, months The highly regarded in celsior Springs. and his were guests the social "Springs. friends could nothing his personal habits which lead bank capitalized had deposits million dollars.
2.January 22, 1925Council Grove RepublicanCouncil Grove, KS
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Failure Follows Suicide Of Excelsior Springs Seems Small
Excelsior Jan. First National Bank closed its doors today when investigation by tional bank examiners revealed of on the books. How much higher the defalcation may reach, if any, is not known. Attempts to save the First National after the suicide of its cashier, Brashear. yesterday, proved futile. Notices posted by the directors that the bank was solvent and similar announcement by national bank examiner yesterday afternoon that he had discovered no evidences of fraud, stopped an incipient the bank during which $15,000 was withdrawn by small depositors. But further checking by the examiners compelled the bank to suspend business this afternoon. Brashear visited clock in the morning. borrowing revolver. left his overcoat there, returned to his home, wife's room. then went into an alley in the business district and put bullet his head. The body was found by Stevens, city attorney. Brashear had killed himself within view of the apartment house where his family lived. The First National has capital of $25,000 and deposits of quarter of million.
3.January 22, 1925St. Joseph GazetteSt. Joseph, MO
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EXCELSIOR SPRINGS BANKER TAKES LIFE
No Known Reason for Accounts With Bank in Good Shape
Excelsior Springs, Mo., Jan. cashier of the First National bank this city, died his own hand last night His body found about this morning by been looking for the young banker request the worried when he did not federal bank examiner in town today and stated positively that the affairs of the bank in first and president the said was no in the Brashear city hall about and asked Jailer Bill Payne to loan him he had money to Kansas City for the bank early this said he loaned Brashear volver holsfer Mrs. Brashear said her husband their about 13:30 night and had kissed her good telling her he had to to City on business for the Stephens started search for Brashear, found the slump sitting position the back of South street, bullet hole his head and the clutched tightly his hand. The body was stiff and the face covered with blood. The bullet had entered the right temple came out above little behind the left ear. Mr. and Mrs. Brashear and their children lived in the Manor apartments South street only door away from the building behind which the body was Coronor Hill called from Liberty and The body was taken to the Prather mortuary Brashear came here from Orrick. years ago enter the employ of the bank. He service man and was an officer the Clyde Gustine post, American gion here. He survived by his widow and two children, Billy, and Mary Ann, months. His father and mother. Mr and Mrs. Brashear, and two sisters Miss Mildred Gooch of Orrick also survive. The sisters of the dead about this morning and had not been told of the tragedy until their note from was found said he hated to do but that he could not stand strain. Mrs. Brashear small run on the bank started this morning due the usual rumors that follow tragedy to bank official. missionary society met the home Misses Jesse and Lillian Kelly Saturday afternoon and pnjoyed an interesting program. were Mrs. entertained number guests her home Sunday with birthday dinner honor of her husband Miss Leo Mrs. George Beckler of Chillicothe, who been visiting her parents Mr. and Mrs. Ben Yates, turned home last Professor Dean of Savannah was here the first the week in of his Miss Anna spent the returned to Chillicothe Sunday resume her work at the college. Lois Nettleton, spent Frank Shaver Tuesday Cameron where enter The held its annual meeting and gram at the high school Tuesday afternoon. The number of the Lyceum course held the high school auditorium Monday Jan. 26. Lloyd and Floyd Marshall who attend spent the with home
4.January 22, 1925The Kansas City StarKansas City, MO
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"SPRINGS"
NOTICE BOND NOT
Refuses President -Defend Brasher.
By order of its board rectors, this bank has closed and placed the hands of the comptroller currency (Signed) National charge.
Staff National Bank of Excelsior E. (Jack) Brasher whose committed suicide early yesterday, closed today. been placed in the The institution comptroller of currency hands the the board of order on the that effect was posted tice bank's door morning. president of the Beth M. Meservey, the examiner admitted today with short confronted the directors referred the Meservey age. "booking discrepancies shortage amount to or which BE ENOUGH national bank exam Chapman, are re-checking and his assistants Mr Meservey bank's books today the bank to turned keys of Brasher's bond When asked shortage Mr $10,000 would cover did not believe he Chapman make estimate would. refused shortage might how much more the
The said he and other on the the bank bank until o'clock this the the shortage had been dis morning after closed by the examiner. opened the bank could have Meservey said. "But would Mr. meant an endless chain of loans off heavy run Heavy interest charges would have resulted finally to close the especially when we discovered the aminer desired
DEFENSE BRASHER
Mr. still protested Brasher's honesty. true, Mr. Meservey Brasher had complied in keeping the books the combut the cashier had not profited personally the "discrepancies," the president The bank will be and physical assets will be sold by the examiner charge.
DEPOSITORS ARE
The depositors, the bank president would not his loans Even the bank building will be stem the which Brasher and appear the motive for his suicide. Mes ervey said the bank building should By law the directors must bear their in the according to Mr Meservey. "Brasher committed no forgeries," the president "Evidently Brasher did not comply national banking entries upon his books. Notes not carried properly.' HOYLE."
Mr Meservey summed up Brasher's this good showing in the bank statement Brasher didn't go according Hoyle." Mr. said he owned 184% the 250 bank The directors of the bank: Walter The bank has between fifteen hundred sixteen hundred depositors, Mr Meservey today. deposits dropped from million dollars today CASHED Harris, president of the Clay County State Bank, made speech assurance to the alarmed depositors, them to "keep cool," today only repeating the statements made him the tional examiner and the president the First National Bank drafts He Springs reached Kansas time the drafts Liberty Bank cheered and plauded Harris's the Excelsior Springs are worried When they about the the closed bank from its officials referred The bank has locked room and the telephone not any WHERE THE MONEY The mystery the whole situation became the shortage Brasher took the money. Brasher had an ceptional record for morality and clean He drank nor gambled. spent all with his family when the bank and his family frugally His salary was month estimated between $5,000 and mostly and and sedan motor He also left insurance policy his the remainder his the "Springs" to the fect that promise to notes from personal friends Mr. carelessness part and not being enough probably the lieved the cause Brasher's the slow payment loans. can't explain the discrepancies the Brasher isn't here to THE FUNERAL. Today all the business houses of Springs close from observance of funeral services Brasher.
5.January 22, 1925Bartlesville Examiner-EnterpriseBartlesville, OK
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CLOSED
Shortage Discovered Following Suicide of Brashear, Cashier, Wednesday
EXCELSIOR SPRINGS, Mo., Jan First National bank of this city was closed today and was revealed that shortage shown on its books, which Beth M. Meservey. president, said amounted to $9,000 or $10,000. Brashear, cashier, committed suicide yesterday. Mr. Meservey referred to the shortage as "booking discrepancHe said the bank could opened this morning, but that it would have ment an
6.January 22, 1925Wichita Falls TimesWichita Falls, TX
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DISCOVER SHORTAGE IN BANK, CASHIER OF WHICH SUICIDED ON WEDNESDAY
EXCELSIOR SPRINGS. Mo., Jan. First National Bank on power this city closed today and revealed that shortage was shown on its books which Beth M. to $2,000 or $10,000. Brasher, suicide yesterreferred to the said the could have Down opened this morning, that It would meant an chain of loans to stave off heavy run hills on The protested Brasher's It he said, that cashier had not complied with Raybestos law in keeping the books, but had profited from the disthat STOPS RUNNING The entire loans. property and that physical masets of the bank will be can cause death. Have your sold by the examiner. Mr. Meservey brakes attended. to at Depositors, he asserted. Factory equipment experts for Brasher's body found in an prices. yesterday, bullet in and revolver lying nearby, after FREE INSPECTION which note can't stand any The Grease Right Bonger
7.January 23, 1925Okmulgee Daily TimesOkmulgee, OK
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BANK CLOSES AFTER CASHIER ENDS LIFE
Shortage of $10,000 Shown In Excelsior Springs Institution.
EXCELSIOR SPRINGS Mo.,' Jan. Flist National bank of this city was closed today and it was revealed that shortage was shown on Its books, which Beth M. Meservey, president said ounted to 000 or committed suicide yesterday. Mr. Meservey referred to the shortage as "booking discrepancies.' He said the bank could have opened this morning, but that it would have meant an "endless chain of loans to stave off a heavy run eventually. The president protested Drashear's the cashier had not complied with the law in keeping the books, but he insisted that Brashear had not profited personally from the discrepan-
The entire loans, property and physical assets of the bank will be sold by the examiner. Mr. Meservey announced. nothing. The bank building. alone, Mr. Meservey said; ought to sell for Brashcar's body was found in an alley yesterday morning, bullet in the head and a revolver lying nearby.
8.January 24, 1925Kansas City JournalKansas City, MO
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SPRINGS BANK
Names of Qualified Washington. receiver will be appointed by controller of the currency in Washing to take over the affairs of the closed First National bank of Excelsior Springs, Mo., was indicated esterday upon the receipt an inquiry here from Washington regardappointment. learned inquiry had been made in Kansas City from Washing for the men qualified to accept the receivership. The bank was closed Thursday Chapman, national bank aminer, following the suicide of Brasher, the cashier, early Wednesday morning. Run on Bank Results.
Chapman had stated the bank's not serious and the bank was opened Wednesday. the bank's funds resulted. and in the afternoon checks were turned down. However, the bank accepted deposits. That night the worked recheck of the bank's affairs, the directors of the meeting bank and president. The notice closing the bank door at opening time placed on the Thursday morning. learned yesterday the planning prosecution of ernment official" the bank. The government's information include statements of known transactions made leged of the officials. of operating the system would make good reported in spite shortages was said ofcelsior Springs. ficials of the bank would sell deposheld the bank, and itors notes, their deposits the amount duce the sale, but would not deliver said that instead the notes, the officials turning over would the depositors personsigned receipts giving them session. this the bank would way. the notes making statements and the amount the deposits would be reduced the same time. both notes and the reduced deposits still showed to the bank's credit.
Chapman Still Reticent.
Mr. Chapman yesterday continued his refusal make any statement the bank and its affairs. regarding As time passes, the feeling in Excelsior Springs that growing in the bank will the much higher than the figure nounced. Mr. Meservey said the bank was closed the morning be about $10.000. crepancies would federal officials is Action by soon in Excelsior Springs. pected
Consult Want Ads for services of reliable Adv.
9.January 24, 1925The Maryville Daily ForumMaryville, MO
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Bank President Signs Shortage Confession
Excelsior Springs, for the First National Bates, attorney Bank Excelsior Springs today said that Beth Meservy, president of the bank, which Was closed Thursday lowing the suicide of Brashear, eashier, had signed statement admitting irregularities. warrant for the arrest of high official the bank islueing the office of the United States district attorney Kansas City.
10.January 25, 1925Kirksville Daily Express and Kirksville Daily NewsKirksville, MO
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U. S. Receiver to Take Over Bank at Springs
Kansas City, Jan. 24. A receiver will be appointed by the comptroller of the currency in Washington to take over the affairs of the closed First National Bank of Excelsior Springs, Mo., it was indicated yesterday upon the receipt of an inquiry here from Washington regarding such an appointment. It was learned inquiry had been made in Kansas City from Washington for the names of men who are qualified to accept the receivership. The bank was closed Thursday by E. L. Chapman, national bank examiner, following the suicide of E. B "Jack" Brasher, the cashier. early Wednesday morning. Mr. Chapman previously had stated the bank's condition was not serious and the bank was opened Wednesday. A run on the bank's funds resulted. and in the afternoon depositors' checks were turned down. However, the bank accepted deposits. That night the examiner worked on a recheck of the bank's affairs, meeting with the directors of the bank and B. M Meservy, president. The notice closing the bank was placed on the door at opening time Thursday morning.
It was learned yesterday the government is planning prosecution of "one high official" of the bank. The government's information is known to include statements of alleged fraudulent transactions made by one of the officials.
A system of operating the bank so it would make good showing despite shortages is reported in Excelsior Springs. It was said officials of the bank would sell depositors notes, held in the bank. and reduce their deposits the amount of the sale, but would not deliver the notes. It is said that instead of turning over the notes, the officials would give the depositors personally signed receipts giving them possession.
In this way the bank would retain the notes in making statements and the amount of the deposits would be reduced at the same time. but both the notes and the reduced deposits still showed to the bank's credit.
Mr. Chapman yesterday continued his refusal to make any statement regarding the bank and its affairs.
As time passes. the feeling is growing in Excelsior Springs that the shortage in the bank will be much higher than the figure announced. Mr. Meservey said the morning the bank was closed the discrepancies would be about $10.000 Action by federal officials is expected soon in Excelsior Springs.
11.January 28, 1925The Kansas City TimesKansas City, MO
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BANK TO RECEIVER TODAY.
W. L. Buechle to Take Charge of Ex celsior Springs First National. EXCELSIOR SPRINGS, Jan. 27.-W. L. Buechle, receiver for the closed First National Bank of Excelsior Springs, came here today from his home in Kansas City, and probably will assume charge of the bank's affairs tomorrow. Mr. Buechle did not receive his commission until this afternoon, and, due to that fact. E. L. Chapman, federal bank examiner, who has been in charge of the bank, did not have an opportunity to turn his data over to the receiver. The receiver had a long conference with Mr. Chapman. but did not see Beth M. Meservey, president, who is liberty under bond. pending trial of charges against him for wrecking the institution. Mr Buechle said he would have a conference with Meservey at the first opportunity. Mr. Buechle said it was too early for him to say whether he would recommend reorganfzation of the bank under the state banking laws. The bank still has assets of about $51,000 that could be used in reorganizing the bank, it is said. Mr. Buechle went to his home in Kansas City tonight, and will return here tomorrow. He said he would give the bank his entire time until it had been liquidated, or reorganized.
12.January 28, 1925The Weekly Kansas City StarKansas City, MO
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A SUICIDE CLOSES A BANK
ARREST OF PRESIDENT FOLLOWS CASHIER'S
First National of Excelsior Springs, Believed Body Brasher Found Alley
Excelsion Springs suicide of First National Bank cashier of last the closing institution and the arrest of the of the of E. B. "Jack" The body found early Wednesday in his home. Most the near he had spent with bank making their regular audit the institution discovery of the bank closed, another is understood bank's funds were some short. Saturday Beth M. Meser vey. president bank, arrested federal complaint charging illegal banking practices. Brasher's suicide revealed strange Until Brasher's body found. even the bank believed sound indeed that day when an incipient run began upon the Brasher's death. the directors posted on the door Chapman, had found discrepancies the bank's was the day Brasher's the bank was closed the that all was not right the bank's note Brasher had left for his wife was read. said: the has am be blamed when that your life pleasant after this thought for some time that when mind, JACK
"FROZEN LOANS" The of the bank liabilities by the bank, largely in the way of 'frozen' loans been the bank examiners and that the money depositors had used irregularly in efforts up such who admitted irregular neither he nor Brasher by the manipulations as president the bank was $200 month said he his and borrowed money in an effort to keep the bank going. complaint against Meservey issued the office the district attorney in Kansas City charged Meservey with misapplication funds, making false reports. In one the complaint, Meservey took $9,000* from the account of William which usually was around $12,000, and with the money "took up" notes desired cleared when the examiners checked the When McKee, director in the bank. discovered his account short, of explaining that the was notes, giving book deposit The deposit, charged. was not made the CHANGED Meservey voiced his intention of pleading guilty to the charge of irregutar upon his arraignment United said the complaint charged things which he had not guilty He held under $20,000 bond which was supplied by friends, for the He lawyer he his His bungalow was said, his has no that "spender" had per sonal Friends believe the banker had lent the bank's money on poor security and too easy terms. First National, the second old. est bank the Springs capitalized and had deposits lion dollars. According the directors. "2-man" bank, with Brasher and complete charge. Meservey held 184 shares of the 250 in the bank Efforts are being made in the Springs to reorganize the bank as possible. Rewould expensive The bank had and that, the $10,000 bonds Brasher and Meservey could be used. The suicide Brasher, which opened up the trail that led to the the bank and the arrest of the president, was shock the Springs. Brasher was popular in social and affairs and officer of the American Legion Post The was about midnight from William Payne, turnkey the Early the morning city attorney. found the in the with revolver The body was near the apartment which he lived his and two children When a run on the bank followed. affairs the Springs warned leaders in lose that not Fred K. the bank was the County Bank. in the in the Springs, the He then lent the First $13,000 help the check in Mr. Harris took an car to City, where he cashed the Brasher Orrick, Mo., before entered in the war. When he left the army he settled here and Ethel Cravens. Excelsior Springs widow. young Brasher Shriner and an Elk, years old and had two children Billie. years old, and Mary Ann, months old.
13.January 28, 1925The Weekly Kansas City StarKansas City, MO
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CLOSES A BANK A SUICIDE
PRESIDENT FOLLOWS CASHIER'S ACT.
National of Excelsior Springs, First ShortBody Brasher Found Alley. suicide of Excelsior Springs, First National Bank the cashier the last resulted the closing here week and the arrest of the the institution The body found Wednesday alley his home Most of the spent with bank examiners making their regular audit institution The following the Brasher's body closed, another is understood. some $40,000 short Saturday M. Meserpresident of the arrested charging illegal banking Brasher's suicide revealed strange situation Brasher's body found. the bank examiners believed the institution indeed, that day run began upon Brasher's death, the posted the had found in the bank's affairs. immediately gun day closed. the that all not right the was Brasher had left for his was read. said be blamed that life thought for that when mind,
"FROZEN The of the bank vealed that liabilities by the bank, largely in the of "frozen" had from the that the money irregularly in up to admitted neither Brasher profited personally by the president of the bank was $200 he in an effort to keep the going complaint against Meservey issued by the office district attorney in charged Meservey with funds, making false ports. case, the plaint, $9,000 from the account of William which ally around and with money "took notes desired cleared when examiners checked the note case. When director in the bank. discovered his account short Meservey is accused explaining that the was in notes, giving McKee book showing deposit of $9,000 The it was not made on the bank's books. CHANGED INTENTION voiced his pleading guilty the charge of irregubut upon his arraignment before United States the complaint charged things which he had not done, so pleaded guilty He under bond which supplied by friends, for the April grand jury He told his lawyer had $54 name. His bungalow was said was was his motor car has no that "spender or had lost in perbelieve the banker had lent the bank's money and First National, the second oldest bank the Springs, and had of milthe bank, with Brasher and Mes ervey held 184 shares of the 250 in the bank. Efforts being made in the Springs to reorganize the bank to losses low organization. was explained. would expensive liquidation fees. The bank had and that, $10,000 bonds of Brasher and Meservey, could used SHOCK The suicide which opened up the trail that led discovery the wreckage the bank and the the president, profound shock Brasher popular social civic affairs finance officer of the American Legion Post revolver used was borrowed about midnight from William Payne. turnkey Early next morning Stephens, attorney, found the banker the alley, with the revolver his The body near the apartment in which he lived with two children. When run on the bank followed, in affairs at the Springs warned leaders depositors not the bank sound. Fred K. Harris, the Clay County State president Bank, in Springs, appearing in the lobby, asked careful. He then lent the people First National $13,000 help stem the tide Accepting cashier's check return. took interurban car Kansas City, where cashed check Brasher lived Orrick, Mo., before he entered in the war. When left the army he settled here and married Mrs. Ethel Cravens. Excelsior Springs widow. young Brasher Shriner an years and had two children. years old, and Mary Ann, months old.
14.January 28, 1925The Weekly Kansas City StarKansas City, MO
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CLOSES A BANK A SUICIDE
ARREST OF PRESIDENT FOLLOWS CASHIER'S ACT.
First National of Excelsior Springs, Found in Alley.
Excelsior Springs suicide of the cashier the First National Bank last resulted in the closing the institution and the arrest of the The B. "Jack" cashier, found early Wednesday an alley near his home Most the had spent with examiners making their regular audit the institution the another $40,000 short Beth Meserpresident the bank arrested federal complaint charging illegal banking Brasher's suicide revealed strange situation Until Brasher's body found, the bank believed the sound: indeed. that day, when incipient run began upon the bank upon Brasher's death, the directors posted notice on found discrepancies the bank's affairs. re-examination immediately following Brasher's bank was the Brasher all the note Brasher had left for his not when that pleasant after
"FROZEN CONCEALED The re-examination of the realed incurred by the largely the of "frozen" the bank the money depositors had irregularly in efforts such who admitted irregular Brasher profited the of the bank was $200 month said his and in an effort to keep the complaint against Meservey Issued by the office the district attorney Kansas City charged Meservey with funds, making false entries and ports. one the $9,000 from the account of William which usually around and with the money "took notes he desired cleared examiners checked the When McKee, director in the bank, discovered his account short. of explaining that the was in giving book $9,000 The was not made the bank's CHANGED TO Meservey voiced his intention of pleading guilty charge irregubut upon his arraignment the complaint charged things which not guilty He held under $20,000 bond, which was supplied by friends, for April He his lawyer had $54 his His bungalow said, was his motor has that had in unwise personal Friends believe the banker had lent the bank's money on poor and too easy terms. First National. the second old est bank the Springs, capitalized $25,000. and had deposits mil dollars. According the directors. "2-man" bank, with Brasher and complete charge. Mesheld 184 shares of the 250 in the Efforts are being made in the Springs the bank as Reorganization. would The bank had and that with $10,000 bonds Brasher and could be TO The suicide Brasher which opened up the trail that led the bank and the arrest of the shock the Springs was popular in social and affairs and finance officer the American Legion Post The revolver borrowed about midnight from William turnkey the Early the morning Stephens, city attorney. found the the alley with the revolver hand. The body was in which he lived near the with wife and two children. When run on the bank followed. affairs at the Springs warned leaders in their heads: that the bank sound. Fred Clay County State president oldest financial in the in the asked Springs, the people be careful. He then lent First National $13,000 to help the Accepting cashier's the run. check in return. Mr. Harris City, where interurban he cashed the check before Brasher at in the When the army he settled here and married Mrs. Ethel Cravens. Excelsior Springs widow young Brasher years and had two children. Billie, years old, and Mary Ann, months old.
DIRECTORS CLOSE A BANK
Federal Examiner Finds Shortage in Excelsior Springs Institution Whose Cashier Committed Suicide.
Excelsior First National Bank of Excelsior Springs, whose cashier, E. B. (Jack) Brasher, committed suicide recently has been closed. The institution has been placed in the hands of the of currency by order of the board of directors. Beth M. Meservey, president of the bank, admitted the examiner had confronted the directors with shortage. Mr. Meservey referred to the shortage "booking discrepancies which as amount to $9,000 or $10,000." The president said he and other officials of the bank conferred on the affairs of the bank until o'clock in the morning after the shortage had disclosed by the examiner. "We could have opened the bank," Mr. Meservey said. "But it would have meant an endless chain of loans stave off heavy run eventually. Heavy interest charges would have resulted. We finally voted to close the bank, especially when we discovered the examiner desired
16.January 29, 1925The Canton PilotCanton, KS
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DIRECTORS CLOSE BANK
Federal Examiner Finds Shortage in Excelsior Springs Institution Whose Cashier Committed Suicide.
Excelsior First National Bank of Excelsior Springs, whose cashier, (Jack) Brasher, committed suicide recently has been closed. The institution has been placed in the hands of the comptroller of currency by order of the board of directors.
Beth M. Meservey, president of the bank, admitted the examiner had confronted the directors with shortage. Mr. Meservey referred to the shortage as "booking discrepancies which amount to or $10,000." The president said he and other officials of the bank conferred on the affairs of the bank until o'clock the morning after the shortage had been disclosed by the examiner. could have opened the bank," Mr. Meservey said. "But it would have meant an endless chain of loans stave off heavy run eventually. Heavy interest charges would have resulted. We finally voted to close the bank, especially when we discovered the examiner desired
17.January 29, 1925Adrian JournalAdrian, MO
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DIRECTORS CLOSE A BANK
Federal Examiner Finds Shortage in Excelsior Springs Institution Whose Cashier Committed Suicide.
Excelsior First National Bank of Excelsior Springs, whose cashier, E. B. (Jack) Brasher, committed suicide recently has been closed. The institution has been placed in the hands of the comptroller of currency by order of the board of directors Beth M. Meservey, president of the bank, admitted the examiner had fronted the directors with shortage. Mr. Meservey referred the shortage as "booking discrepancies which amount to $9,000 or $10,000." The said he and other officials of the on the affairs of the until o'clock the morning after the shortage had been disclosed by the examiner. could opened the bank," Mr. Meservey said. "But it would have meant an endless chain of loans stave off heavy eventually. Heavy interest charges would have resulted. We finally voted to close bank, especially when discovered the examiner desired
18.January 30, 1925Joplin GlobeJoplin, MO
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EXAMINER SAYS HOLDERS OF EXCELSIOR SPRINGS BANK WILL COLLECT.
Kansas Jan. the defunct First National bank Excelsior Springs, Mo., probably lose nothing. K. Roberts. chief national bank examiner of tenth federal reserve district, sald tonight. He declared would seriously consider proposals Saturday to reorganize the bank. Roberts made the announcement after studying the report of Chapman, who unearthed alleged illegal Beth M. Meservey, president of the bank.
Was Short $70,000. was said here that the total after the suicide January (Jack) cashier of the bank, may not exceed $70,000. W. receiver, offset to this loss, has sight assests which will reinburse the bank. Papers found in the bank's files indicated had been terested oil leases. lie had dealwas with James Stout, and Shockey, who were year Fort Scott, Kan., wrecking the Vernon State bank of Kan. The extent these relations being
DIRECTORS CLOSE A BANK
Federal Examiner Finds Shortage in Excelsior Springs Institution Whose Cashier Committed Suicide.
Excelsior Springs,-The First National Bank of Excelsior Springs, whose cashier, E B. (Jack) Brasher, committed suicide recently has been closed. The institution has been placed in the hands of the comptroller of currency by order of the board of directors. Beth M. Meservey. president of the bank, admitted the examiner had confronted the directors with a shortage. Mr. Meservey referred to the shortage as "booking discrepancies which amount to $9,000 or $10,000." The president said he and other officials of the bank conferred on the affairs of the bank until 6 o'clock in the morning after the shortage had been disclosed by the examiner. "We could have opened the bank." Mr. Meservey said. "But it would have meant an endless chain of loans to stave off a heavy run eventually. Heavy interest charges would have resulted. We finally voted to close the bank, especially when we discovered the examiner desired it."
20.January 30, 1925The Newton JournalNewton, KS
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DIRECTORS CLOSE A BANK
Federal Examiner Finds Shortage In Excelsior Springs Institution Whose Cashier Committed Suicide.
Excelsior First National Bank of Excelsior Springs. whose cashier, E. (Jack) Brasher, committed suicide recently has been closed. The institution has been placed in the hands of the comptroller currency by order of the board of directors. Beth M. Meservey, president of the bank, admitted the examiner had confronted the directors with shortage. Mr. Meservey referred to the shortage as "booking discrepancies which amount to $9,000 or $10,000." The president said he and other officials of the bank conferred on the affairs of the bank until o'clock in the morning after the shortage had been disclosed by the examiner. could have opened the bank," Mr. Meservey said. "But would have meant an endless chain of loans to stave off heavy run eventually. Heavy interest charges would have resulted. We finally voted to close the bank, especially when we discovered the examiner desired
21.January 30, 1925The Elmo RegisterElmo, MO
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DIRECTORS CLOSE A BANK
Federal Examiner Finds Shortage in Excelsior Springs Institution Whose Cashier Committed Suicide
Excelsior Springs,-The First Na tional Bank of Excelsior Springs whose cashier E B. (Jack) Brasher committed suicide recently has been closed
The institution has been placed in the hands of the comptroller of cur rency by order of the board of direc tors
Beth M Meservey, president of the bank. admitted the examiner had Pon fronted the directors with a shortage Mr. Meservey ref rred to the shortage RN booking discrepancies which amount to $9.00 or $10,000 The president said he and other officials of the bank conferred on the affairs of the bank until 6 o'clock in the morning after the shortage had been disclosed by the xaminer We could have opened the bank Mr Meservey said "But it would have meant an endless chain of loans to stave off a heavy run eventually Heavy interest harges would have resulted finally voted to close the bank especially when we discovered the examiner desired It
22.February 5, 1925Cassville RepublicanCassville, MO
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DIRECTORS CLOSE A BANK
Federal Examiner Finds Shortage in Excelsior Springs Institution Whose Cashier Committed Suicide.
Excelsior First National Bank Excelsior Springs. whose cashier, E B. (Jack) Brasher. committed suicide recently has been
The institution has been placed in the hands of the comptroller of cur rency by order of the board of direcBeth M Meservey president of the bank. admitted the examiner had con fronted the directors shortage. Mr Meservey referred to the shortage booking discrepancies which amount or The president said he and other officials of the bank conferred on the affairs of the bank until o'clock the morning after the shortage had been disclosed by the examiner could have opened the bank Mr. Meservey said. But would have meant an endless chain of loans stave off heavy run eventually Heavy interest charges would have resulted. We finally voted to close the bank. especially when examiner desired
