9167. Kirksville Trust Company (Kirksville, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
March 1, 1923*
Location
Kirksville, Missouri (40.195, -92.583)

Metadata

Model
gpt-5-mini
Short Digest
ad27aab23c531905

Response Measures

None

Description

The articles describe the Kirksville Trust Company closing in March 1923 after discovery of massive shortages (~$460,000) tied to the cashier Lonnie F. Gibbs, who committed suicide in the vault. There is no description of a depositor run; the bank was closed and placed under a finance commissioner/liquidation. Later articles discuss prosecutions (1925) and a dividend announced (1927). Dates are taken from article text and publication dates; March 18, 1923 is the reported suicide date.

Events (5)

1. March 1, 1923* Receivership
Newspaper Excerpt
Campbell, special finance commissioner in charge of the bank since its close in March, 1923, after Lonnie Gibbs, cashier, was found dead in the vault.
Source
newspapers
2. March 18, 1923 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Large defalcations/shortage (~$460,000) by the cashier Lonnie F. Gibbs; his suicide in the vault coincided with bank's close.
Newspaper Excerpt
It was learned today that a shortage of approximately $460,000 exists in the accounts of the Kirksville Trust Company. The cashier of the bank, Lonnie F. Gibbs committed suicide in the vault of the bank March 18.
Source
newspapers
3. January 30, 1925 Other
Newspaper Excerpt
Millspaugh told the committees the defalcations that resulted the failure the Kirksville Trust Company ... Lonnie Gibbs ... committed had kept duplicate of records the department of the bank.
Source
newspapers
4. May 28, 1925 Other
Newspaper Excerpt
Frank Gibbs, father of Lonnie Gibbs, former cashier of the Kirksville Trust Company, which failed in 1923 plead guilty ... receiving deposits when he knew the bank was in an insolvent condition.
Source
newspapers
5. January 27, 1927 Other
Newspaper Excerpt
A dividend of eight ninths of per cent will be paid depositors of the defunct Kirksville Trust Company, It was announced by Campbell, special finance commissioner in charge of the bank since its close in March, 1923.
Source
newspapers

Newspaper Articles (4)

Article from San Antonio Light, March 27, 1923

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Article Text

PARENTS SIGN OVER SON'S INSURANCE TO COVER BANK SHORTAGE Cashier Killed Self in Vault-Depositors Will Be Paid. Kirksville. Mo., March 27.-It was learned today that a shortage of approximately $460.000 exists in the accounts of the Kirksville Trust Company. The cashier of the bank. Lonnie F. Gibbs committed suiside in the vault 0 fthe bank March 18. Gibbs carried $600,000 life insurance. and his paients. Mr. and Mrs. Frank W. Gibbs. yesterday assigned $500.000 of the amount over to Dr. H. M. Still, president of the Citizens' National bank. to protect depositors. Mr. and Mrs. Gibbs were beneficiaries of the policies.


Article from Joplin Globe, January 30, 1925

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Article Text

FINANCE INQUIRY MILLS. PAUGH DENIES ATTORNEY GETS the Associated Press. Jefferson City, Mo., Jan. Inquiry the of the state finance department was begun by the senate general investigating committee. Finance Commissioner Millspaugh was on the stand than an hour day, testifying the employment of attorneys by the department liquidating of closed banks and incidentally gave the committee his opinion the for the "unusual number" of by bank officials. An afternoon session of the committee was prevented by tended argument in senate over senate bill 24. The finance missioner expected to resume the stand Received No for Advice. Senator Frank H. Farris, man of the committee, questioned Millspaugh in particular regard the employment Francis of Louis liquidation failed banks. Millspaugh that consulted Francis most of the bank failure cases but that he no for advice. committee chairman asked Commissioner Millspaugh WAS not true that Francis received from all local employed in liquidating closed banks. "Absolutely the finance commissioner replied, adding that Francis received fees only from cases which he actively gaged. The commissioner necessary that have an versed banking affairs, to consult with quickly tion with bank failures. Millspaugh told the committees the defalcations that resulted the failure the Kirksville Trust Company Kirksville. He suld the unusual that the bank falled for almost twice the amount reputed resources. Millspaugh that Lonnie Gibbs, of the institution, committed had kept duplicate of records the department of the bank.


Article from The Memphis Democrat, May 28, 1925

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Article Text

FRANK GIBBS PLEADS GUILTY AT CANTON Frank Gibbs, father of Lonnie Gibbs, former cashier of the Kirksville Trust Company, which failed in 1923 plead guilty at Canton, Tuesday receiving deposits when he knew the bank was in an insolvent condition. Lonnie Gibbs committed suicide the bank vault, and it later developed that he had an unusual amount of life insurance, taken out presumably protect the depositors, who it is said will receive almost 100 cents on the Judge E. Gantt of Mexico, who has been visiting Judge Pettingill and family here, tried the case, Judge Cooley being disqualified, was director in the bank. Judge Gantt went to Canton last night to sentence Gibbs, who it understood will get two years in the penitentiary on each two different counts.


Article from The Jasper County News, January 27, 1927

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Article Text

MISSOURI News Nuggets LATE STATE CONDENSED FOR BUSY READER Kansas Ehlers, 60, cused by Kathryn Ehiers soning her husband, Gus brother former the defunct Roanoke State Bank, committed suicide at the home of another brother, Charles Ehiers, Rosedale section of Kansas City, Kan. Death caused by bullet from revolver. Ehlers also had taken poison previously, but Its effect was not he made certain of death by shooting himself. He used the same kind poison that caused the death of his brother, Gus H. Ehlers. Jefferson invitation dress meeting of the Missouri House of Representatives and the Senate was extended Timothy Smiddy of Cork, Ireland, in conçurrent resolution introduced in the Senate by Senator Casey, Democrat, Kansas City. Smiddy will the Farmers' Week program at the University Missouri, January 19. He has been invited to address the joint assembly January 20. He is Minister Plenipotentiary from the Irish Free State the United States. Jefferson desire of county court to curtail expenses is not good reason for dispensing with the services of of public welfare, was held by Attorney General Gentry, in an opinion sent to the prosecuting attorney of Stoddard County. Eleven months ago the county court appointed such an officer for term of three years, and now wants to dispense with the officer on the grounds economy. Kansas Baronne's favorite his life. Barrone, cabaret singer, and two companions entered the Nightingle Cabaret, formerly. the Edwards Cafe, and sauntered through the crowd toward the barroom. In the center of the room he took revolver from his pocket. waiter barred his Barrone had been there before and frightened patrons with his revolver. Jefferson No. under the workmen's compensation law was received here by Commissioners Phillips, Shaw and Richardson. James Ross, 23, working for Smith Brothers, contractors of Kansas City, was hurt January by rock falling from the roof of tunnel. The commission rected immediate payment of the claim for Ross's injuries. on the $4,000,000 dam on Black Rivew, near Leeper. Workmen encountered rock depth of feet. holes will be sunk and engineers are confident that they have located solid base for the big project. Letha Ann Kennedy, died at her home in Caplinger Mills. She had spent her entire life in the same community. single casket, In single grave in country cemetery, two miles from where their home. now in ashes, once stood, the charred bodies Mrs. Rex Ambley and her two small sons were burled. The three perished fire that destroyed the Ambley home. Four other members of the famIly, the father and three children, were injured. fire breaking out in the cotton house of the Meyer Brothers' Ginning Company for time threatened to destroy the $65,000 gin. ton house and supplies valued $4,000 were destroyed. H. Moyes, farmer northeast of Union Star, was burned to death when his barn was destroyed by fire. He was old and leaves years widow and child. dividend of eightninths of per cent will be paid depositors of the defunct Kirksville Trust Company, It was announced by Campbell, special finance commissioncharge of the bank since its close in March, 1923, after Lonnie Gibbs, cashier, was found dead in the vault. death of Thomas Fitz of Des Are was followed by the death of his wife. Fritz was Confederate veteran and writer. Edgar Moore, 84, native of Callaway County and who graduated from Lindenwood College St. Charles 67 years ago, is dead at her home in Los Angeles, according to advices received here. She was taken while preparing to reception Los Angeles in honor of President and Mrs. Roemer of Lindenwood. West West Plains Chamber of Commerce unanimously indorsed the proposed $100,000,000 road bond issue. This organization claims the distinction of originating and workout the first details of the issue. Pitcher Jack Bentley and Coach Miller the New York who have hunting and fishing lodge in the Ozark hills, among the guests. Wainscott, 46, killed when he crushed beneath wagon load of lumber, about 15 miles northeast Columbia. The wagon had become uncoupled, and he was either thrown from to his death had gotten off to attempt make pairs and was caught under the load. Wainscott, road overseer, was hauling lumber to repair bridge. blaze was discov. the roof the home Mrs. Williams, Dick" climbed top the the