9187. Bank of Liberal (Liberal, MO)

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
state
Start Date
September 15, 1927
Location
Liberal, Missouri (37.558, -94.520)

Metadata

Model
gpt-5-mini
Short Digest
65a6145e285db7aa

Response Measures

None

Description

The articles describe two distinct episodes: a failure/closure in 1927 (cashier tried) and a separate 1932 run that prompted a one-day moratorium and local reorganization with funds raised and an expected reopening. The 1932 sequence is a run leading to a suspension (moratorium) and planned reopening, so I classify the overall episode here as run_suspension_reopening. I corrected OCR gaps and inferred 1932 dates from publication dates. Do not infer long-term outcomes beyond what's reported (reopening was expected/announced).

Events (4)
1. September 15, 1927 Receivership
Newspaper Excerpt
Trial of C. B. Armstrong, cashier of the Bank of Liberal, which failed recently, resulted in a hung jury at Lamar Tuesday. ... the directors at an early morning meeting, Monday decided it would be best not to open the bank for business.
Source
newspapers
2. February 10, 1932 Run
Cause
Rumor Or Misinformation
Cause Details
Newspaper reports describe a slow run and fears of heavy withdrawals; business men organized to stave off withdrawals, suggesting panic/rumor-driven withdrawals rather than disclosed insolvency.
Measures
Local businessmen raised funds ($32,000 by noon; goal $50,000) to reorganize and bolster the bank.
Newspaper Excerpt
A slow run begun yesterday on the Bank of Liberal caused W. V. Braden, mayor, to declare one-day moratorium on all business activity here.
Source
newspapers
3. February 11, 1932 Other
Newspaper Excerpt
Plans were under way to reorganize the bank, and $32,000 had been raised at noon by Liberal business men for that purpose. The goal is $50,000. ... expected re-open tomorrow.
Source
newspapers
4. February 11, 1932 Suspension
Cause
Rumor Or Misinformation
Cause Details
Mayor declared a one-day moratorium due to fears of a heavy run and to allow reorganization efforts to proceed; moratorium was a local action to stem withdrawals.
Newspaper Excerpt
W. V. Braden, mayor, to declare one-day moratorium on all business activity here. ... Mayor Braden ordered moratorium when officers the bank reported that they feared the bank.
Source
newspapers

Newspaper Articles (3)
1. September 15, 1927 Carthage Evening Press Carthage, MO
Article from Carthage Evening Press, September 15, 1927

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Article Text

HUNG JURY IN BANKER'S CASE Cashier of Closed Liberal Institution Tried at Lamar Trial of C. B. Armstrong, cashier of the Bank of Liberal, which failed recently, resulted in a hung jury at Lamar Tuesday. The jurors stood 6 to 6 on the question of conviction and were discharged after being out two hours. Charges against Armstrong grew out of his acceptance of deposits on Saturday before the bank failed to open Monday. Armstrong and the other bank officials declared that on Saturday they had no idea that the bank would close Monday. The management had been struggling in an effort to raise money to pay off "bad paper" which the bank had. The bank had been suffering from heavy with drawals and on Sunday rumors that had spread indicated that there would be a heavy run on the bank Monday, and the directors at an early morning meeting, Monday decided it would be best not to open the bank for business.

2. February 11, 1932 The Boonville Daily News Boonville, MO
Article from The Boonville Daily News, February 11, 1932

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Article Text

Mayor's Moratorium Will Stay In Effect Liberal, Mo., Feb. fect here today while of the Bank of Liberal completed. Business men subscribed the nance the institution which pected re-open tomorrow this time, business places Liberal also re-open. Mayor Braden ordered moratorium when officers the bank reported that they fearthe bank.

3. February 11, 1932 Columbia Missourian Columbia, MO
Article from Columbia Missourian, February 11, 1932

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Article Text

RUN BEGINS ON LIBERAL BANK Business Men Begin Reorganization to Stave Off Withdrawals LIBERAL, Mo., Feb. 11 (U.P.)A slow run begun yesterday on the Bank of Liberal caused W. V. Braden, mayor, to declare one-day moratorium on all business activity here. Officials of the bank said they have sufficient funds for ordinary business, but feared heavy run. Plans were under way to reorganize the bank, and $32,000 had been raised at noon by Liberal business men for that purpose. The goal is $50,000.