9174. Bank of La Due (La Due, MO)

Bank Information

Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
state
Start Date
April 4, 1925
Location
La Due, Missouri (38.650, -90.381)

Metadata

Model
gpt-5-mini
Short Digest
795b011b5ab867ef

Response Measures

None

Description

Article 1 (Apr 14, 1925) reports a quiet run on the bank for several days and that on Saturday, April 4 the affairs of the Bank of LaDue were placed in the hands of the state finance department with the state bank examiner in charge. Article 2 (Apr 29, 1925) (OCR damaged) discusses control of the Bank of LaDue, bad paper and alleged misconduct/indictments, consistent with bank-specific insolvency and permanent failure. There is no evidence the bank reopened, and state control plus later reports of bad paper and indictments indicate permanent closure.

Events (2)

1. April 4, 1925 Run
Cause
Bank Specific Adverse Info
Cause Details
Sale/change of control of majority stock and later revelations of bad paper/poor assets led depositors to withdraw funds (quiet run over several days).
Measures
No specific remedial measures reported prior to state intervention.
Newspaper Excerpt
There had been a quiet run on the bank for several days
Source
newspapers
2. April 4, 1925 Suspension
Cause
Government Action
Cause Details
State finance department (banking regulator) took charge of the bank's affairs (presumably suspension of normal operations) after withdrawals and discovery of problems in the bank's assets.
Newspaper Excerpt
the affairs of the Bank of LaDue ... were placed in the hands of the state finance department with J.D. Freund, state bank examiner, in charge
Source
newspapers

Newspaper Articles (2)

Article from The Star-Journal, April 14, 1925

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Article Text

NEIGHBORHOOD NEWS Items of Interest Gleaned from Newsy Exchanges in Johnson And Counties Adjoining * * * The Mitchell Grocery store, of Waverly, was recently robbed and about $40 in silver taken. It is believed the robbery was committed by a Waverly resident. Seven men engaged in painting the Lafayette-Ray county bridge at Lexington had a narrow escape from death last Monday when the scaffoling on which they were work ing broke and plunged the men into the Missouri river. The men hung onto boards and were carried down stream about a half of mile before they were reseued. The res cue work was done by a crew on one of the boats used by the workmen. This boat was permitted to drift down stream with the men until the boilers could be fired up, at ter which the boat was able to pick up each man. All the men are suffering from exposure. The Higginsville Advance reports four robberies in that city last week. The robber secured some money and clothing. At one place the robber was discovered and the owner of the garage which was being robbed gave chase and got close enough to grab a belt from the overcoat worn by the intruder. The new concrete road between Clinton and Deepwater was given a test recently when three inches of rain fell causing the Grand river to leave its banks. The water was a foot high in places over the new road. The dirt embankment and stone rip rap was washed away and much repair work will have to be done. Harrisonville has organized a Music Study Club. Miss Laverne Willett was chosen president of the new organization. The purpose of the club is to study music and the promotion of a series of concerts in which noted artists will appear. Pete Burton, young Pleasant Hill man, was convicted on a charge of highway robbery and senteneed to a term of five years in the penitentiary by a jury in the Circuit Court at Harrisonville Tuesday. The jury reported at 8:30 p. m., after a day of testimony in which most of the witnesses were from Pleasant Hill. Burton was convicted largely on the testimony of Otto Wilson, El ton Davis and Lester Munsey, three young men of Lone Jack, the vietims of the hold up. They reiterated the testimony they gave before Judge George Everett in the preliminary hearing* held here-that they positively knew Burton as one of the two men who held them up near the Missouri Pacific coal chutes early the morning of Sun day, January 25. The amount tak en was only $12.70.- Hill Times. North Dakota Indians have made President Coolidge a member of their tribe and given him the name of "Bear Ribs." The President most likely will keep them covered only when on the reservation with the tribe. Windsor Review. Saturday, April 4, the affairs of the Bank of LaDue, of Henry county, were placed in the hands of the state finance department with J.D. Freund, state bank examiner, in charge. The majority of the stock had been sold by Mrs. R. F. Cartt and H. B. Hollopeter, a few weeks ago to S. C. Goff, of Iowa: E. E. Weeks, of Kansas City and I. E. Page, a lawyer, from Kansas. The rest of the stock is owned by local people, There had been a quiet run on the bank for several days


Article from The Weekly Kansas City Star, April 29, 1925

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Article Text

HAND OF M'CUTCHAN ST. LADUE BANK = Expected Affair Placed Trial B. of St. alleged "master the affairs the defunct Trust Company of Gorin, connected definitely by special here with the alleged the Bank of Ladue, Henry County understood indicted and placed on officers Ladue bank held jail the grand bank Ralph Ottawa, Kas. president real estate sistant Goff Page was released bond. ONLY $251 In six weeks, alleged was by the ciates. The bank ruary and state there only $251 hand, the grand jury was Wesner, the belief McCutchan planned was alleged Gorin used, obtain securities issuance less certificates deposit reason could advanced cutor for McCutchan's trol bank in population to exceed WEEKS FINDS Evidence adduced by the show the Bank of lished in was controlled desired retire In Mr. Weeks due with McCutchan. After liminaries, McCutchan entered to buy the bank pay $6,500 and real estate valued charge of the bank and paid the which had been financial basis, which no deposits were and made of the county or the state PAPER CARRIED When the finance the bad paper and totaled more than the capital Among the the bank for Efforts signers Grant Mo., failed. ner said the pared for use later loans, no had money been the on them.