9181. State Savings Bank (Lebanon, MO)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
savings bank
Start Date
May 1, 1917*
Location
Lebanon, Missouri (37.672, -92.660)

Metadata

Model
gpt-5-mini
Short Digest
821cf64aa017ed71

Response Measures

None

Description

The articles report the Bank of Lebanon closed May 29, 1917 after a quiet run following unfavorable rumors and difficulties realizing large loans; it was placed in hands of the state banking department and later reorganized/reopened under a new charter as the State Savings Bank of Lebanon with reduced capital. Dates inferred from article text (closure May 29, 1917; reopening reported by June 28/July 5, 1917).

Events (3)
1. May 1, 1917* Run
Cause
Rumor Or Misinformation
Cause Details
Quiet run following circulation of unfavorable rumors; also linked to gradual deposit withdrawals due to local shortage of money and inability to realize large loans.
Measures
Bank placed in hands of state banking department; later reorganized under new charter and capital; affairs settled without loss to depositors.
Newspaper Excerpt
a quiet run on the institution, following the circulation of unfavorable rumors.
Source
newspapers
2. May 29, 1917 Suspension
Cause
Rumor Or Misinformation
Cause Details
Temporary suspension due to gradual decrease of deposits (local shortage of money), inability to realize quickly on large loans, and a quiet run following unfavorable rumors.
Newspaper Excerpt
closed its doors on May 29 and has since been in the hands of the state banking department.
Source
newspapers
3. June 1, 1917* Reopening
Newspaper Excerpt
The secretary of state has issued a charter to the State Savings Bank of Lebanon, under which name the reorganized Bank of Lebanon has resumed business with a capital of $25,000.
Source
newspapers

Newspaper Articles (2)
1. June 28, 1917 Iron County Register Ironton, MO
Article from Iron County Register, June 28, 1917

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Article Text

Closed Bank Reopens. The secretary of state has issued a charter to the State Savings Bank of Lebanon, under which name the reorganized Bank of Lebanon has resumed business with a capital of $25,000. The Bank of Lebanon, the oldest banking institution in Laclede county, with a capital of $50,000 and deposits of $300,000. closed its doors on May 29 and has sin. been in the hands of the state banking department. The temporary suspension was due to a gradual decrease of deposits, owing to the local shortage of money, the bank's inability to realize quickly on large loans and a quiet run on the institution, following the circulation of unfavorable rumors. The difficulties which caused the bank's embarrassment have been removed, and its affairs have been settled without the loss of a single dollar by the depositors.

2. July 5, 1917 Mexico Missouri Message Mexico, MO
Article from Mexico Missouri Message, July 5, 1917

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Article Text

Closed Bank Reopens. The secretary of state has issued a charter to the State Savings Bank of Lebanon, under which name the reorganized Bank of Lebanon has resumed business with a capital of $25,000. The Bank of Lebanon, the oldest banking institution in Laclede county, with a capital of $50,000 and deposits of $300,000, closed its doors on May 29 and has since been in the hands of the state banking department. The temporary suspension was due to a gradual decrease of deposits, owing to the local shortage of money, the bank's inability to realize quickly on large loans and a quiet run on the institution, following the circulation of unfavorable rumors. The difficulties which caused the bank's embarrassment have been removed, and its affairs have been settled without the loss of a single dollar by the depositors.