9058. Joplin Savings Bank (Joplin, MO)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
savings bank
Start Date
May 1, 1906*
Location
Joplin, Missouri (37.084, -94.513)

Metadata

Model
gpt-5-mini
Short Digest
4ce371eeee6765b3

Response Measures

None

Description

Multiple articles (May–June 1906) report a two-week run sparked by 'damaging reports' about the bank's condition, then closure by the Missouri secretary of state/state examiners on May 28, 1906, and appointment of a receiver in early June. Underlying insolvency tied to large loans/overdrafts to Ozark Coal & Railway and reckless investments by President George W. Layne. OCR errors in some articles corrected (e.g., 'bany' -> bank; 'W. Layne' -> George W. Layne).

Events (3)
1. May 1, 1906* Run
Cause
Rumor Or Misinformation
Cause Details
Two-week run triggered by circulation of damaging reports/rumors about the bank's condition.
Newspaper Excerpt
the result Monday of run lasting two weeks, started by the circulation of damaging reports concerning the condition of the institution.
Source
newspapers
2. May 28, 1906 Suspension
Cause
Government Action
Cause Details
Closed by state bank examiners/secretary of state following examination that found overdrafts, bad loans and insolvency (large indebtedness to Ozark Coal & Railway).
Newspaper Excerpt
The Joplin Savings bank was closed today by the secretary of state, after an examination by one of his bank examiners.
Source
newspapers
3. June 7, 1906 Receivership
Newspaper Excerpt
Circuit Judge Howard Gray... appointed L. W. Winter... receiver of the defunct Joplin Savings Bank; bank closed its doors a week ago.
Source
newspapers

Newspaper Articles (20)
1. May 28, 1906 The Laramie Republican Laramie, WY
Article from The Laramie Republican, May 28, 1906

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JOPLIN SAVINGS BANK FORCED TO SUSPEND BY SECRETARY OF STATE OF THE STATE OF MISSOURI. Officer Had It Examined by Bank Examiner and Then Issued His Orders-Said That Thousand Depositors Will Be Paid in Full-Lid Off and Lost in New York, According to the Parkhurst Society. Joplin, Mo., May 28.-The Joplin Savings bank was closed today by the secretary of state, after an examination by one of his bank examiners. George Layne, the president of the bany, is also president of the Ozark Coal company, operating in the Indian territory. Layne said that no depositor would lose a cent. The bank had $85,000 in deposits, in about 1,000 separate accounts.

2. May 29, 1906 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, May 29, 1906

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SAVINGS BANK IS CLOSED Institution Suspended by State Examiners as Result of Reports of Condition. JOPLIN, Mo., May 28.-The Joplin Savings bank was closed this morning by State Bank Examiners Wade and Cook under instructions from the secretary of state. The deposits aggregate $84,000; capital, $10,000. The assets are small. George W. Layne, president of the bank, issued a statement pledging to pay every depositor in full. It is stated that the failure resulted from reports circulated recently regarding its condition. The Ozark Coal and Railway company, which is owned by President Layne, owes the bank about $40,000. -The coal and railway company is said to have been a losing venture. The law authorizes a bank to loan only 25 per cent of its capital stock to one concern. President Layne, who owns 8,000 acres of land in Arkansas valued at about $80,000, has offered to turn over his personal property to repay depositors.

3. May 31, 1906 The Taney County Republican Forsyth, MO
Article from The Taney County Republican, May 31, 1906

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MIZZ00" OLD A new bank has been organized at Sheldon. Mexico has voted bonds for a $50,000 high school building. Daviess county has acceped plans for a new $65,000 court house. The rate at which fruiti being planted, if kept up, will soon make of the Ozarks the fruit garden of the world. A contract has been let for the construction of nine miles of gravel road in Boone county at a cost of $15,000. The opera house in course of conat Chilicothe was blown but John Billington, struction down, the owner, will at once begin anew. The Carthage Press says Jasper county potato bugs are seemingly immune against Paris green and asks for a bug exterminator that will exterminate Howard Newton, an amateur ball player, was struck just below the heart by a pitched ball in a game at Kansas City Saturday, and died in a few minutes. At Kansas City Monday William Boggs plead guilty to an attempt to vote illegally at the rescent city election and was sentenced to two years in the penitentiary. At a dance near Purcell a few nights ago trouble was started by a drunken man, who was probably fatally injured by a young man whom he was pursuing with a heavy whip. Webb City has a man 103 years old, Thomas E. Sauls by name. Mr. Sauls served in the Mexican and civil wars, and is said to have built the first smelter in southwest Missouri. Callaway county farmers offer $100 for of a big gray been for the past killing the scalp sheep wolf that winter has at a wholesale rate. The varmint is said to have killed $1,000 worth of sheep during his depredatious. The contract has been let for the erection of a Masonic temple and business structure at Carterville. The structure is to be 100x100 feet on the ground, three stories high, and brick will be used in its construction. A Carthage woman sues for $5,000 for being "scared" by a deputy constable in the discharge of his duty. Should she succeed in collecting the we need not be surprised to hear under her claim her repeat breath. "Scare femme again!" followed by a swelling inine chorus, "Scare me to!" Charles W. Smart, who recently purchased the old Stephens Guerrant near Fulton, has skeletons under six place humau found the twenty- house. The skulls were the best preserved part of the skeletons, which were aranged in layers, face downward. It is supposed to be an old Indian burying ground. They are coming back from California to live in "old Mizzoo." The Missourian likes something solid to stand on. and when the earth gets to jerking out from under his feet he begins to long for home, and generally comes to stay where the possum fat. the pawpaw gathers back content accumulates its finest flavor, and the earth salways in stable equilibrium. W. M. Wade and R. M. Cook. state bank examiners, closed and took charge The failure is a of morning. the Joplin Savings bank the result Monday of run lasting two weeks, started by the circulation of damaging reports con, cerning the condition of the instiution. Examiner Wade on Saturday discovered overdrafts amounting to $25,000. The assets are small. Bad loans are reponsible for the failure. Two warrants for the arrest George were issued of the of bank, W. Layne, president one charging him with lending more than 25 per cent of the capital stock to one and the after the bank was deposits borrower other with insolvent. receiving Layne has offered to turn over his personal property to repay depositors. Dedical Care

4. June 1, 1906 The Stark County Democrat Canton, OH
Article from The Stark County Democrat, June 1, 1906

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BANK CLOSED Joplin, Mo., May 28.-The Joplin Savings bank was closed by the state examiner this morning. President George W. Layne of the bank is also president of an Indian Territory coal mine company and it is said that some of the deposits were loaned to the mining company. Layne announces that the depositors will lose nothing, that he will transfer them all his personal holdings to the receiver. The total deporits amounted to $85,000.

5. June 1, 1906 Milford Chronicle Milford, DE
Article from Milford Chronicle, June 1, 1906

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e OA* Ceefe, former ford, N. J., is run n front of train at her own door by a Remai instantly South Bethlehem, Pa., killed. S to China It has been decided to 1000 of the aged and int a Chinese made homeless by the San Francisco fire, this arangement being sanctioned by the Chinese minister. Tuesday, May 29. The Joplin Savings Bank, at Joplin, Mo., was closed by the state bank examiners. Victor Jacobs, of Philadelphia, was found dead in a room in a hotel at Toronto, Ont., from heart disease. J. V. Johnson (white) was taken from jail at Wadesboro, N. C., by a mob and hanged for the murder of his brotherin-law. Captain U. S. Burnham, a veteran of the Civil War, dropped dead at Duluth, Minn., while dressing to attend G. A. R. memorial services. George Johanson, awaiting trial in Philadelphia for wife murder, committed suicide in prison by hanging himself with a strip torn from his shirt. Wednesday, May 30. The worst blizzard of the year raged Tuesday around Baker City, Ore., and over eight inches of snow fell. James E. Scripps, founder and publisher of the Detroit Evening News, died at his home in that city, aged 71 years. Robert Portner, a retired merchant and capitalist of Washington, D. C., died at his country home at Ma. nassas, Va. -

6. June 2, 1906 The Grenada Sentinel Grenada, MS
Article from The Grenada Sentinel, June 2, 1906

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A SAVINGS BANK CLOSED Institution at Joplin, Mo., Taken In Hand By the Secretary of State. Joplin, Mo.-W. M. Wade, of Springfield, state bank examiner, closed the doors of Joplin savings bank after an investigation, and is now in charge of the institution. Application for a receiver will be made at once. In warrants sworn out fcr George W. Layne, president of the bank, he was charged with receiving deposits when he knew the bank was insolvent

7. June 7, 1906 Baxter Springs News Baxter Springs, KS
Article from Baxter Springs News, June 7, 1906

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It is said the depositors of the Joplin Savings Bank, which went up the flue last week, will realize about fourteen cents on the dollar. We don't see any use of making two bites of a cherry. The officials should have taken it all, and thus saved the expense of a receivership.

8. June 8, 1906 Tulsa Daily World Tulsa, OK
Article from Tulsa Daily World, June 8, 1906

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WINTER IS RECEIVER Will Take Charge of the Defunct Joplin Savings Bank Jeplin, Mo.. June 7 -Circuit Judge Howard Gray, at the suggestion of Secretary of State Swanger. yester day appointed L. W. Winter. member of the Republican state central committee from this district, receiver of the defunet Joplin Savings Bank that His closed its doors a week ago. bond was fixed at $25,000. which be gave. and he will assume charge of

9. June 14, 1906 Iron County Register Ironton, MO
Article from Iron County Register, June 14, 1906

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ALL OVER THE STATE. Arrests at Springfield. Springfield-Doss Galbraith and Hill were with murder in the Gooch, charged blacksmiths, arrested, first detheir in the of three negroes gree lynching for alleged participation in this city the night of April 14. It is bethe arrests were uplieved on that made Hadon the advice of Attorney-General a young man, been in the a ley. Harry placed Hocker, county accused jail of on has being before perjury ing false charge, testimony arrests the special givNineteen more are but it is not grand yet to jury. be made, generally believed that warrants for otheralleged mob leaders, who, it is known, have been indicted, will be issued for some Lincoln that inal time court yet. decided Judge Gooch of the and crim- Galbraith could be admitted to bail. Gooch furnished bond in the sum of $7,000, and released from jail. Galbraith has been able to Hocker will be in not was probably yet arraigned give bond. a day or two and released on bond. Winter Receiver of Joplin Bank. Joplin-L. W. Winter, of this city, has been appointed receiver of the defunct Joplin statement of the Judge Gray. savings The bank by Circuit which was filed with for receiver, bank's the application condition, set forth that the bank had 1,542 depositors. the of Liabilities counts depositors of bank and bills include payable acto $90,710.48. the of the are amounting marked assets company Among the notes and overdrafts of the Ozark Coal & Railway Co., amounting to $56,146.36. Infant Born In Jail. Fulton-In the Callaway county jail here, Mrs. Alva Bailey, charged with being an accomplice of her husband, Ted of killed a Bailey, Jay Lawder, Farber, wea!thy who shot mine and last gave 1 to The man and wner a daughter. of Mexico, trial fall, of birth h wife was to have been called at the t May term of court, but because of the n approaching accouchement it was postuntil a poned July 16, when The mother special term of court will be held. ; :and child have been removed from the d jail, and will remain at a private house until then. e t State Gainer Under New System. S office Jefferson the state City-Figures show in the that of treasurer the S last legislature, in changing the "fee" d system in the office of excise commissioner of St. Louis to a salary system, 1, has in less than a year brought about e d $20,000 into the state treasury. The law the change efal making went that time into d fect June 14, 1905. Up to the per of the commissioner gross receipts retained of the 40 office cent. and turned the rest over to the state. Now he receives a salary of $5,000 a year, and is allowed $4,000 for office exN penses and clerk hire. Would Indict Student Rioters. e Columbia-Judge Alexander Waller e the jury to st the recent riot the charged rigidly grand between investigate t students and the employes of Cole xBros.' circus. He instructed the jury h to probe the matter as deeply as pos+ e, sible and to bring to justice the guilty, H. no matter who the parties were or te whatever their The law had been violated shamefully standing. incident in several R. ways, he said, and the was not one that could be overlooked. to Bandits Rob Butler Station. Butler-Three burglars, masked with red handkerchiefs, entered the Missouri Pacific depot at this place, and er after confining the night operator, Roy n, Christol, in a box car, blew open the ilcompany's safe and secured nearly $50. ea They left a bank draft for about $400. 20 isCrazy Man's Awful Deed. ed St. Louis-His mind unbalanced by a the San Francisco earthquake and on fire, which killed his Szelig through wife he and passed, then Daniel ended his own life with a pistol in the presence of his two tlitle daughters. Dr. Woodson Reappointed. R St. Joseph-The board of asylum managers unanimously reappointed Dr. uC. R. Woodson superintendent of the on state hospital for four years.

10. June 15, 1906 The Montgomery Tribune Montgomery City, MO
Article from The Montgomery Tribune, June 15, 1906

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ALL OVER THE STATE. Arrests at Springfield. Springfield-Doss Galbraith and Hill Gooch, blacksmiths, were arrested, charged with murder in the first de gree for their alleged participation in the lynching of three negroes in this city on the night of April 14. It is be lieved that the arrests were made up on the advice of Attorney-General Hadley. Harry Hocker, a young man, has been placed in the county jail on a perjury charge, being accused of giving false testimony before the special grand jury. Nineteen more arrests are yet to be made, but it is not generally believed that warrants for other alleged mob leaders, who, it is known, have been indicted, will be issued for some time yet. Judge Lincoln of the criminal court decided that Gooch and Galbraith could be admitted to bail. Gooch furnished bond in the sum of $7,000, and was released from jail. Galbraith has not yet been able to give bond. Hocker probably will be arraigned in a day or two and released on bond. Winter Receiver of Joplin Bank. Joplin-L. W. Winter, of this city, has been appointed receiver of the defunct Joplin savings bank by Circuit Judge Gray. The statement of the bank's condition, which was filed with the application for receiver, set forth that the bank had 1,542 depositors. Liabilities of the bank include accounts of depositors and bills payable amounting to $90,710.48. Among the marked assets of the company are the notes and overdrafts of the Ozark Coal & Railway Co., amounting to $56, 146.36.

11. June 15, 1906 The Farmington Times Farmington, MO
Article from The Farmington Times, June 15, 1906

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Winter Receiver of Joplin Bank. Joplin-L W. Winter, of this city, has been appointed receiver of the defunct Joplin savings bank by Circuit Judge Gray. The statement of the bank's condition, which was filed with the application for receiver, set forth that the bank had 1,542 depositors. Liabilities of the bank include accounts of depositors and bills payable amounting to $90,710.48. Among the marked assets of the company are the notes and overdrafts of the Ozark Coal & Rallway Co., amounting to $56, 146.36.

12. January 2, 1907 The Lamar Register Lamar, CO
Article from The Lamar Register, January 2, 1907

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BUSINESS FAILURES Jan. 14-Parsons, Snyder & Co., Cleveland, O.; liabilities, $150,000. 18-G. S. McReynolds & Co., Chicago: liabilities, $400.000. Feb. 8.-Boliver County Bank. Cleveland, Miss.: liabilities, $110,000; assets, $130,000. 15-Bank of America. Chicago, placed in receiver's hands. 26-Cash Buyers' Union, Chicago, placed in receiver's hands Williamson Libbey Lumber Co., Osakosh, Wis.: liabilities, $500,000. Mar. 1-Southern Bank & Trust Co., Ft. Smith, Ark., owing depositors $80,000. 2-Walsh, president defunct Chicago National bank, arrested on charge of falsifying reports. 27-National Business College, Quincy, III., assigns; liabilities, $30,000; assets, $100,000. 29-North Freedom (Wis.) bank closed by examiner. Apr. 2-Teis, Smith & Co., bankers, Pekin, III.: liabilities, $100,000. 24-First National bank, Attalla, Ala., closed by national bank examiner. May 2-Delmont national bank, Delmont, Pa., closed Receiver for American Reserve Bond Co., St. Louis, appointed. 28-Joplin (Mo.) Savings bank closed by state officials. Jun. 18-Farmers' State bank of Clearfield, Ia., closed by state bank examiner. 30-White, Dunham Shoe Co., of Brockton and Boston, failed: liabilities, $400,000. Aug. 6-Milwaukee Ave. State bank, Chicago, closed by state bank examiner; liabilities. $4,000,000. S-F. E. Coyne, ex-postmaster. Chicago, failed in bakery and luncheon business. 16-Garfield Park bank of Chicago closed as result of collapse of Milwaukee Ave. State bank. 28-Real Estate Trust Co., of Philadelphia, suspends business; liabilities, $7,000,000. Sep. 20-Bates National bank, of Butler, Mo., closed by directors. 29-Private bank at Middleport. O., closed. Nearly all deposits of $115,000 gone. Nov. 15-Bank of Beckwith & Co., at Evanston, Wyo., closed owing to financial troubles. 30-Three banks conducted by C. V. Chandler at Macomb, Colchester and Bardolph, III., closed for lack of ready cash. Dec. 1-Bank of Kiowa, I. T., closed on account of slow collections and inability to realize on assets. 12-Farmers' and Drovers' National bank of Waynesburg, Pa., closed by comptroller of currency. 13-Cummings Commission Co., one of largest brokerage houses in northwest, suspends. 17-Lincoln bank of Morton Park, suburb of Chicago, fails.

13. January 3, 1907 The Greenville Journal Greenville, OH
Article from The Greenville Journal, January 3, 1907

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BUSINESS FAILURES Jan. 14-Parsons, Snyder & Co., Cleveland, O.; liabilities, $150,000. 18-G. S. McReynolds & Co., Chicago; liabilities, $400.000. Feb. 8.-Boliver County Bank, Cleveland, Miss.; liabilities, $110,000; assets, $130,000. 15-Bank of America, Chicago, placed in receiver's hands. 26-Cash Buyers' Union, Chicago, placed in receiver's hands Williamson Libbey Lumber Co., Oshkosh, Wis.; liabilities, $500,000. Mar. 1-Southern Bank & Trust Co., Ft. Smith, Ark., owing depositors $80,000. 2-Walsh, president defunct Chicago National bank, arrested on charge of falsifying reports. 27-National Business College, Quincy, Ill., assigns; liabilities, $30,000; assets, $100,000. 29-North Freedom (Wis.) bank closed by examiner. Apr. 2-Teis, Smith & Co., bankers, Pekin, Ill.; liabilities, $100,000. 24-First National bank. Attalla, Ala., closed by national bank examiner. May 2-Delmont national bank, Delmont, Pa., closed Receiver for American Reserve Bond Co., St. Louis, appointed. 28-Joplin (Mo.) Savings bank closed by state officials. Jun. 18-Farmers' State bank of Clearfield, Ia., closed by state bank examiner. 30-White, Dunham Shoe Co., of Brockton and Boston, failed; liabilities, $400,000. Aug. 6-Milwaukee Ave. State bank, Chicago, closed by state bank examiner; liabilities, $4,000,000. 8-F. E. Coyne, ex-postmaster, Chicago, failed in bakery and luncheon business. 16-Garfield Park bank of Chicago closed as result of collapse of Milwaukee Ave. State bank. 28-Real Estate Trust Co., of Philadelphia, suspends business; liabilities, $7,000,000. Sep. 20-Bates National bank, of Butler, Mo., closed by directors. 29-Private bank at Middleport, O., closed. Nearly all deposits of $115,000 gone. Nov. 15-Bank of Beckwith & Co., at Evanston, Wyo., closed owing to financial troubles. 30-Three banks conducted by C. v. Chandler at Macomb, Colchester and Bardolph, III., closed for lack of ready cash. Dec. 1--Bank of Kiowa, I. T., closed on account of slow collections and inability to realize on assets. 12-Farmers' and Drovers' National bank of Waynesburg, Pa, closed by comptroller of currency. 13-Cummings Commi on Co., one of largest brokerage how es in northwest, suspends. 17-Lincoln bank of Morton Park, suburb of Chicago, fails.

14. January 4, 1907 The Tupelo Journal Tupelo, MS
Article from The Tupelo Journal, January 4, 1907

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BUSINESS FAILURES Jan. 14-Parsons, Snyder & Co., Cleveland, O.; liabilities, $150,000. 18-G. S. McReynolds & Co., Chicago; liabilities, $400.000. Feb. 8.-Boliver County Bank, Cleveland, Miss.; liabilities, $110.000; assets, $130,000. 15-Bank of America, Chicago, placed in receiver's hands. 26-Cash Buyers' Union, Chicago, placed in receiver's hands Williamson Libbey Lumber Co., Oshkosh, Wis.; liabilities, $500,000. Mar. 1-Southern Bank & Trust Co., Ft. Smith, Ark., owing depositors $80,000. 2-Walsh, president defunct Chicago National bank, arrested on charge of falsifying reports. 27-National Business College, Quincy, Ill., assigns; liabilities, $30,000; assets, $100,000. 29-North Freedom (Wis.) bank closed by examiner. Apr. 2-Teis, Smith & Co., bankers, Pekin, III.; liabilities, $100,000. 24-First National bank, Attalla, Ala., closed by national bank examiner. May 2-Delmont national bank, Delmont, Pa., closed Receiver for American Reserve Bond Co., St. Louis, appointed. 28-Joplin (Mo.) Savings bank closed by state officials. Jun. 18-Farmers' State bank of Clearfield, Ia., closed by state bank examiner. 30-White, Dunham Shoe Co., of Brockton and Boston, failed; liabilities, $400,000. Aug. 6-Milwaukee Ave. State bank, Chicago, closed by state bank examiner; liabilities, $4,000,000. 8-F. E. Coyne, ex-postmaster, Chicago, failed in bakery and luncheon business. 16-Garfield Park bank of Chicago closed as result of collapse of Milwaukee Ave. State bank. 28-Real Estate Trust Co., of Philadelphia, suspends business; liabilities, $7,000,000. Sep. 20-Bates National bank, of Butler, Mo., closed by directors. 29-Private bank at Middleport, O., closed. Nearly all deposits of $115,000 gone. Nov. 15-Bank of Beckwith & Co., at Evanston, Wyo., closed owing to financial troubles. 30-Three banks conducted by C. v. Chandler at Macomb, Colchester and Bardolph, Ill., closed for lack of ready cash. Dec. 1-Bank of Kiowa, I. T., closed on account of slow collections and inability to realize on assets. 12-Farmers' and Drovers' National bank of Waynesburg, Pa., Crosea NJ comptroller of currency. 13-Cummings Commission Co., one of largest brokerage houses in northwest, suspends. 17-Lincoln bank of Morton Park, suburb of Chicago, fails.

15. January 10, 1907 The Idaho Recorder Salmon, ID
Article from The Idaho Recorder, January 10, 1907

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BUSINESS FAILURES Jan. 14-Parsons, Snyder & Co., Cleveland, O.: Habilities, $150,000. 18-G. 8. McReynolds & Co., Chicago: liabilities, $400.000. Feb. &-Boliver County Bank, Cleveland. Miss.: liabilities, $110,000; assets, $130,000. 15-Bank of America, Chicago, placed in receiver's hands. N-Cash Buyers' Union, Chicago, placed in receiver's hands. Williamson Libbey Lumber Co., Oshkosh, Wis.: liabillties, $500,000. Mar. 1-Southern Bank & Trust Co., Ft. Smith, Ark., owing depositors $80,000. 2-Walsh, president defunct Chicago National bank, arrested on charge of falsifying reports. 27-National Business College, Quincy, III., assigns; liabilities, $30,000; assets. $100,000. 29-North Freedom (Wis.) bank closed by examiner. Apr. 2-Teis, Smith & Co., bankers, Pekin, III.: liabilities, $100,000. 34-First National bank. Attalla, Ala., closed by national bank examiner. May 2-Delmont national bank, Delmont, Pa., closed. Receiver for American Reserve Bond Co., St. Louis, appointed. 28-Joplin (Mo.) Savings bank closed by state officials. Jun. 18-Farmers' State bank of Clearfield, Ia., closed by state bank examiner. 30-White, Dunham Shoe Co., of Brockton and Boston. failed: liabilities. $400,000. Aug. 6-Milwaukee Ave. State bank, Chicago, closed by state bank examiner: liabilities, $4,000,000. 8-F. E. Coyne, ex-postmaster, Chicago, failed in bakery and luncheon business. 16-Garfield Park bank of Chiengo closed as result of collapse of Milwaukee Ave. State bank. 28-Real Estate Trust Co., of Philadelphia, suspends business: liabilities, $7,000,000. Sep. 20-Bates National bank. of Butler. Mo., closed by directors. 29-Private bank at Middleport, O., closed. Nearly all deposits of $115,000 gone. Nov. 15-Bank of Beckwith & Co., at Evanston, Wyo., closed owing to financial troubles. 30-Three banks conducted by C. V. Chandler at Macomb, Colchester and Bardolph, III., closed for lack of ready cash. Dec. 1-Bank of Kiowa, L T., closed on account of slow collections and inability to.realize on assets. 12-Farmers' and Drovers' National bank of Waynesburg, Pa., closed by comptroller of currency. 13-Cummings Commission Co., one of largest brokerage houses in northwest. suspends. 17-Lincoln bank of Morton Park. suburb of Chicago, fails.

16. October 8, 1908 Morgan County Republican Versailles, MO
Article from Morgan County Republican, October 8, 1908

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NOMINEES FOR CONGRESS. 1st District-Wilbur F. Chamberlain, Hannibal. % 2nd-Edward F. Haley, Moberly. 3rd-Henry L. Eads, Pattonsburg. % X X 4th-Morris A. Reed, St. Joseph. 5th-Edgar C. Ellis, Kansas City. % % 6th-William O. Atkeson, Butler. % 7th-John Whitaker, Weaubleau. 8th-William C. Irwin, Jefferson % City. 9th-Reuben F. Roy, New London. % 10th-Richard Bartholdt, St. Louis. % 11th-William T. Findlay, St. % Louis. % 12th-Harry N. Coudrey, St. Louis. % 13th-Politte Elvins, Elvins. 14th-Chas. A. Crow, Caruthersville. % 15th-Chas. H. Morgan, Joplin. 16th-Arthur P. Murphy, Rolla. department has been entirely self-supporting. The fund which had accumulated in this department during the ten years of the operation of the banking law was $3,638.61. During the four years just preceding the present incumbency nothing whatever was added to that fund. During the three and one-half years of Mr. Swanger's administration the fund has been increased to $8,330.56. Examinations of banks have been rigid, impartial and complete. The reports of the several examiners have been subjected to the most thorough scrutiny. and any violation of the banking laws, or the essential rules of good banking have been called to the attention of the bank without fear or favor and a strict compliance of the law required. During the present administration several banks have been closed. others that were unsafe required to liquidate; others have consolidated, making stronger institutions, and everything done that could be accomplished to place the banking business of the State upon an absolutely safe and stable basis. During Mr. Swanger's administration only four banks and trust companies he has closed resulted in loss to the depositors. One of these was the Middleton Bank at Waverly (resulting from a defaulting cashier). where the depositors will probably lose about 5 to 10 per cent of their deposits. Another is the Joplin Savings Bank, caused by the reckless investments of the president of the institution, where the depositors will lose a percentage of their deposits. Another is the Bankers Trust Company of Kansas City caused by the Brady failure. Reckless investments by the officers of the institution and a slump in their values caused by the panic will cause a loss to the depositors of about 57 per cent of their deposits. Last, but not least, the Salmon & Salmon Bank of Clinton. The most disastrous by far, the causes of the failure of which are well known to the people of the State. It has been the earnest effort of the present administration, whenever It was possible, to prevent receiverships for banks, and many thousands of dollars have been saved to depositors and stockholders by the efforts of Mr. Swanger to

17. October 8, 1908 The Rich Hill Tribune Rich Hill, MO
Article from The Rich Hill Tribune, October 8, 1908

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department has been entirely self-supporting. The fund which had accumulated In this department during the ten years of the operation of the banking law was $3,638.61. During the four years just preceding the present incumbency nothing whatever was added to that fund. During the three and one-half years of Mr. Swanger's administration the fund has been increased to $8,830.56. Examinations of banks have been rigid, impartial and complete. The reports of the several examiners have been subjected to the most thorough scrutiny, and any violation of the banking laws, or the essential rules of good banking have been called to the attention of the bank without fear or favor and a strict compliance of the law required. During the present administration several banks have been closed. others that were unsafe required to liquidate: others have consolidated, making stronger Institutions, and everything done that could be accomplished to place the banking business of the State upon an absolutely safe and stable basis. During Mr. Swanger's administration only four banks and trust companies he has closed resulted in loss to the depositors. One of these was the Middleton Bank at Waverly (resulting from a defaulting cashier), where the depositors will probably lose about 5 to 10 per cent of their deposits. Another is the Joplin Savings Bank, caused by the reckless investments of the president of the institution, where the depositors will lose a percentage of their deposits. Another is the Bankers Trust Company of Kansas City caused by the Brady failure. Reckless investments by the officers of the institution and a slump in their values caused by the panic will criuse a loss to the depositors of about 57 per cent of their deposits. Last, but not least, the Salmon & Salmon Bank of Clinton. The most disastrous by far, the causes of the failure of which are well known to the people of the State, It has been the carnest effort of the present administration, whenever It was possible, to prevent receiverships for banks, and many thousands of dollars have been saved to depositors and stock-

18. October 9, 1908 The Marshall Republican Marshall, MO
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department has been entirely self-supporting. The fund which had accumulated in this department during the ten years of the operation of the banking law was $3,638.61. During the four years just preceding the present incumbency nothing whatever was added to that fund. During the three and one-half years of Mr. Swanger's administration the fund has been increased to $8,330.56. Examinations of banks have been rigid, impartial and complete. The reports of the several examiners have been subjected to the most thorough scrutiny, and any violation of the banking laws, or the essential rules of good banking have been called to the attention of the bank without fear or favor and a strict compliance of the law required. During the present administration several banks have been closed, others that were unsafe required to liquidate; others have consolidated, making stronger institutions, and everything done that could be accomplished to place the banking business of the State upon an absolutely safe and stable basis. During Mr. Swanger's administration only four banks and trust companies he has closed resulted in loss to the depositors. One of these was the Middleton Bank at Waverly (resulting from a defaulting cashier), where the depositors will probably lose about 5 to 10 per cent of their deposits. Another is the Joplin Savings Bank, caused by the reckless investments of the president of the institution, where the depositors will lose a percentage of their deposits. Another is the Bankers Trust Company of Kansas City caused by the Brady failure. Reckless investments by the officers of the institution and a slump in their values caused by the panic will cause a loss to the depositors of about 57 per cent of their deposits. Last, but not least, the Salmon & Salmon Bank of Clinton. The most disastrous by far, the causes of the failure of which are well known to the people of the State. It has been the earnest effort of the present administration, whenever it was possible, to prevent receiverships for banks, and many thousands of dollars have been saved to depositors and stockholders by the efforts of Mr. Swanger to

19. October 9, 1908 The Montgomery Tribune Montgomery City, MO
Article from The Montgomery Tribune, October 9, 1908

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department has been entirely self-supporting. The fund which had accumulated in this department during the ten years of the operation of the banking law was $3,638.61. During the four years just preceding the present incumbency nothing whatever was added to that fund. During the three and one-half years of Mr. Swanger's administration the fund has been increased to $8,330.56. Examinations of banks have been rigid, impartial and complete. The reports of the several examiners have been subjected to the most thorough scrutiny, and any violation of the banking laws, or the essential rules of good banking have been called to the attention of the bank without fear or favor and a strict compliance of the law required. During the present administration several banks have been closed. others that were unsafe required to liquidate; others have consolidated, making stronger institutions, and everything done that could be accomplished to place the banking business of the State upon an absolutely safe and stable basis. During Mr. Swanger's administration only four banks and trust companies he has closed resulted in loss to the depositors. One of these was the Middleton Bank at Waverly (resulting from a defaulting cashier), where the depositors will probably lose about 5 to 10 per cent of their deposits. Another is the Joplin Savings Bank, caused by the reckless investments of the president of the institution, where the depositors will lose a percentage of their deposits. Another is the Bankers Trust Company of Kansas City caused by the Brady failure. Reckless investments by the officers of the institution and a slump in their values caused by the panic will cause a loss to the depositors of about 57 per cent of their deposits. Last, but not least, the Salmon & Salmon Bank of Clinton. The most disastrous by far, the causes of the failure of which are well known to the people of the State. It has been the earnest effort of the present administration, whenever it was possible, to prevent receiverships for banks, and many thousands of dollars have been saved to depositors and stockholders by the efforts of Mr. Swanger to

20. October 14, 1908 The Guthrie Daily Leader Guthrie, OK
Article from The Guthrie Daily Leader, October 14, 1908

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(Joplin Globe.) "Suppose you had on deposit $1,000 being all the wealth you possessed, and fear entered your heart as to the solvency of that institution; would you wait for the guaranty fund, or would you withdraw your deposit?" "This suppositions proposition is taken from the paper read by Festus J. Wade before the convention of the American Bankers' Association at Denver. We have selected this, not because it is especially easy to answer, but because it is a fair illustration of the shallowness, sophistry and banality of Mr. Wade's entire reasoning. From beginning to end his paper is utterly wanting in breadth of view, and depth of research. It lacks thought, this paper of Mr. Wade. It is superficial; it is vapid. But let us take Festus J. Wade's hypothetical deposit of $1,000. If that was the entire wealth of the depositor, let us set Mr. Wade's dubiety at rest by assuring him that under such circumstances the depositor would do just what Festus J. Wade would do—withdraw that money. He would not wait for the guaranty law to reimburse him. "But suppose a depositor had all his money deposited in a bank about the solvency of which no fear entered his soul. And suppose he awoke some morning to learn that the bank had failed. Don't you imagine it would be vastly consoling to that depositor to know that his money was not lost to him; that under the bank-guaranty law provision had been made to meet just this kind of case, and that, without burthening anybody or any institution, this otherwise fatal loss to him has been avoided? Imagine, if you can, the sense of security and confidence such an exprience must create among the depositors of the bank that failed. No one, of course, leaves money in a bank of doubtful character. The failure of a bank is always "the unexpected" to the depositors of that bank. But we doubt if the failure of a bank is ever wholly unexpected to the other banks in that community. We have had a bank flure in Joplin. Some of the depositors in that bank lost their all. Fear of its solvency had not entered their souls. Therefore, they did not withdraw their deposits. And there was no guaranty law to make good those losses. Now, we all know our banks in this city are sound. They are prosperous. Under their able conservative management they go on from year to year, steady and solid and safe. And every one of us is glad that this is so, and every one wishes the banks a continuous and ever-increasing prosperity. But do you suppose there is any comfort to the depositor, who lost every dollar he had in the bank in this city that failed, to learn that all the other banks are all right? Does this fact restore one cent to the people who had their money in the bank that failed and to many of whom the loss was a weary cross—the cross of cold, black, hopeless poverty? Perhaps we grow sentimental. And we are aware that Sentiment talks to an empty house when it addresses a convention of bankers. And yet this question of guaranteeing bank deposits being altogether righteous, carries the color of humanitarianism. It is not to be disposed of in the dead, drab terms of your accademician. We assume to inform Festus J. Wade that this proposition happens to be pulsing with a living human interest; that it is commanding the attention of the people today in the tempo of millions of heart beats. Reverting to our own bank failure for the purpose of argument: The depositors of that bank did not know its condition. But the other banks in this city, every one of them, did know that bank's condition. They knew it because it was their business to know it; and, moreover, they had the means of knowing it—means infinitely superior to any within the avail of the average depositor. And what has that got to do with it? Well, simply this: Festus J. Wade says this bank guaranty law will invite the reckless and un-scrupulous banker into the business. That is a fallacy which we are presumptuous to believe, we can demonstrate to the satisfaction of any fair-minded person. Suppose, for example, when the Joplin Savings bank was tottering on the verge of insolvency, a bank guaranty law had been in effect: Do you imagine the other banks would have quietly awaited the crash, doing nothing excepting to stock their vaults with money as against the possible stampede which might have eventuated in a run upon every bank in the city? Do you think they would have done that? Don't you know, as a matter of common sense, that had any responsibility devolved upon them, those other banks would have taken much more active precautionary measures? You bet they would. And it will be one of the results of the bank guaranty law that the wild-cat banker will have rougher sledding than he has ever had before, because # IT WILL BE TO THE INTEREST OF ALL BANKS THAT NO BANK FAILS. It is, of course, essential, that the people have confidence in the banks.