9606. Bank of Wardell (Wardell, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
May 14, 1930
Location
Wardell, Missouri (36.351, -89.818)

Metadata

Model
gpt-5-mini
Short Digest
1fc8c44b72645a51

Response Measures

None

Description

The Bank of Wardell was closed by its board after a vault fire that destroyed records (discovered May 14–15, 1930). There is no evidence of an actual depositor run — only that the assistant cashier delayed reporting the fire because he feared a run. The bank was turned over to a receiver for liquidation. Assistant cashier Flavil (Favil) Owens was arrested on arson charges but later freed at preliminary hearing. Dates are taken from publication dates and article text (fire discovered May 14–15, 1930; bank closed May 15; receiver appointed later in May).

Events (3)
1. May 14, 1930 Other
Newspaper Excerpt
the vault on May 14, when papers of the institution were ruined. The bank was closed following a fire in the vault on May 14, when papers of the institution were ruined.
Source
newspapers
2. May 15, 1930 Suspension
Cause Details
Bank closed by board after a destructive fire in the vault destroyed records and forced suspension of business.
Newspaper Excerpt
The Bank of Wardell was closed by the board of directors Thursday, May 15.
Source
newspapers
3. May 26, 1930 Receivership
Newspaper Excerpt
The Bank of Wardell which was closed after fire on May 15th, was turned over to B. Browning, bank receiver, Monday of this week for liquidation.
Source
newspapers

Newspaper Articles (4)
1. May 23, 1930 The Missouri herald Hayti, MO
Article from The Missouri herald, May 23, 1930

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Article Text

BANK OF WARDELL CLOSED AFTER FIRE The Bank of Wardell was closed by the board of directors Thursday, May 15. At on the above date, fire was discovered by Webster Wallace of Wardell. Mr. immediately gave the alarm but before the fire could be extinguished, all bank records were distroyed. Flavil Owens, who was taking care of the bank in the absence of his brother, Dallas Owens who is cashier, stated that he discovered the fire Wednesday morning when he opened, and fearing run on the bank, made no report of the same. seems that the fire evidently burnall day Wednesday and Wednesday night, until Thursday morning at around when was discoverby Wallace. The bank had not been open for business at the time fire was discovered, and not having any key, someone forced the door to in where the fire was burning. This bank on April 15th, ported filed its statement with the State Department, showing total resource of $25,684 and capital at and had on hand de. posits $14,850 in loans. and Stoffle president and Dallas was Owens cashier At the time the fire is reported that only in cash hand. This was taken was on over by Duncan, bank examinand placed in another bank for future deposal. Dallas Owens, cashier of the bank his home on account confined to could not be reached of sickness and The bank building is at this time. listed being worth $5,258.82 and fixtures at $1,244.99. the bank of the bank reM. Stoffle, president ports that immediate steps would be taken to liquadate the bank. A stock being called on holders meeting to select Wednesday of be recommended someone that can as receiver. to the State Department learned who this time we have not was selected for this position. We recall another instance of this when the bank kind. and that was caught fire in 1925. It of Bertrand reported at that time that the cashier while working late one Saturday night on some books, was slugrecords were burned. ged and all Without the bank's records it may hard to check up on prove pretty the business of the bank, and the pres kindly asks each ident and cashier bear with them depositor to kindly the checking can be straightenuntil out.

2. May 30, 1930 The Missouri herald Hayti, MO
Article from The Missouri herald, May 30, 1930

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Article Text

ATTORNEY MAY WARDELL BANK FIRE TIGATE The Bank of Wardell which was closed after fire on May 15th, was to B. Browning, bank turned over receiver, Monday of this week for Some of the depositors quidation. be much dissatisfied seems to very little effort has been because very made to get at the cause of the fire: further reported that unless is some definnite effort is made in this general for the matter the Attorney will be called on for special State investigation. It seems that this will be the proper thing bundle of dynamFrom reports, found in the bank, this fuse was after the fire had been being found the vault. The fire discovered in ing discovered some 20 hours by Favil Owens who was in charge of the bank, fire was reported by man and the Wallace of that city. named Attorney duty The Prosecuting this case thoroughly investigate evidence of law when there is violated, should having been steps be taken immediately to give the or the cause that proper punishment proved this bank's failure. It seems that our county is suffering entirely too much over bank failures in the last few months and steps be taken to prevent this. Proshould secution of the parties for the failures of the small banks would at least go long way in checking some of them. opened. There are now four such Editor's we are ready learn that Proseto go to press, We E. Hooker issued cuting Attorney warrant for the arrest of Flavil assistant cashier Owens, temporary of the closed Bank of Wardell, on of arson in connection with charges the fire which destroyed most of the bank's records and forced closinstitution, May 15. It ing of that is reported that Owen has been seen and hearing will in St. soon as Owen isapprehended. given as

3. June 24, 1930 The Daily Dunklin Democrat Kennett, MO
Article from The Daily Dunklin Democrat, June 24, 1930

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Article Text

W ARDELL BANKER FREED IN VAULT FIRE OF MAY 14 Hayti, June 19.-Flavil Owen, assistant cashier of the closed bank of Wardell was freed of an arson charge at a preliminary hearing here Wednesday before Justice D. A. Hedge. The bank was closed following a fire in the vault on May 14, when papers of the institution were ruined. Owen, who had acted as assistant cashier of the bank for his brother. who was ill. only a short time, was also acting postmaster at the time. Officials of the bank, including T. M. Stoffle, president, and R. L. Warren, vice president. testified at the hearing. Their testimony revealed that Owen had told them of being in the bank the night prior to the fire. Owen had attempted to open the safe to put some papers in it, but failed to do so and left the papers on the safe, closing the vault as he left. The testimony showed that Owen discovered the fire on Wednesday morning, but delayed telling of it for some time since he feared that an alarm would cause a run on the bank. Owen had told the officers that he also hesitated to tell his brother of the incident because of his ill health at the time.-Southeast Missourian. Golf news from Hoylake reports some of the British experts shooting the course in "approximately 69". Which is no better than some of us dubs can do, given a bit of leeway in the approximating.

4. July 11, 1930 The Daily Dunklin Democrat Kennett, MO
Article from The Daily Dunklin Democrat, July 11, 1930

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Article Text

TO BUILD FROM Caruthersville, Mo., July les of four dykes will be constructed on the Tennessee side of the Missis. sippi River across from this city by the Badgett Construction Company late of Vicksburg. Miss., as part the federal government's plan for further development of the Mississippi River The work will begin about July 15 and its purpose be keep the water away from the Tennessee side of the river throwing across on the Missouri side and thus deep. ening and making permanent the channel on the Missouri side which naturally deeper. The main chan nel has always been on the Missouri side, but in recent years the channel changed to the far side of the river and barges and other boats had navigate that side of the stream The four dykes will be constructed from point near Powell's Ferry north of this south for about mile and directly from the wharf here. The first dyke all of which will be slanting the current. will extend about feet into the river. the second will extend 1,000 feet into the channel the third about feet and the fourth about 2,500 feet The dykes will gradually force the current away from the Tennessee side and the feet of this is expected create dry land on the far side of the river to the island opposite this This work will also break up huge sandbar which can be seen when the water is low About $235,000 will be spent in this construction work and $50,000 of will be for labor About 100 men will be employed for the work. most of whom will be from Caruthand the entire job should finished about January MAY FACE NEW CHARGE Mo. July Possibil that Hooker attorney of Pemiseot county may file another charge against Flavil Owens. 24. connection with fire which destroyed records of Bank Wardell May 15. today when Hooker admitted he was conducting thorough investigation the case Owens was freed of charge arson by Justice Hedge in preliminary hearing the judge saying sufficient evidence was presented by the state Owens cashier in the absence his brother. Dallas Owens, cashier of the bank. when the latter was when the fire In the preliminary hearing mony the fire had smoulderthe bank's vault for more than 24 hours before the only man who knew the blaze gave the alarm. He explained tha he kept the fire secret because he feared that the records public on the bank would ensue Dunean Poplar Bluff state bank examiner called and took charge the bank He said impossible liquidate the bank's affairs because all note deposit records and all checks for the current year. had been destroyed. In the safe found $620.60 Stoffle president of the bank testified the institution was solvent. Owens said he believed lamp lighted the vault had exploded sometime during the night May causing the fire DISPROVES OF "SPITE" AGAINST PRESIDENT Washington July accusations spite on the part the Senate against the made by adminis Senator Caraway (Dem. Ark. public statement says "Perhaps the silliest explanation the insistent of failures on the Hoover administration that the United States Senate is motivated by desire spite the President would just as logical to urge that the president in attempting 10 force the upper House of Congress actuated by hostility oward the Senate Caraway points out that the President's own party has majority of the Senate and cites the votes on outstanding like the Spanish War Veterans Bill. passed over the President's veto by the substitute World War Veterans Bill, passby 55 to 11, the defeat of Judge Parker's by votes with five stalwart Republicans voting against confirmation. and two paired against and the tariff bill passed votes, with five Democrats voting in the affirmative as disproof of any theory of any hostility of the Senate toward the President. He calls attention to the fact that there are standpat Republicans in the Senate and only 15 insurgents He accounts for the failure of the administration in legislative matters by saying: "Actually the defeats that have crued to President Hoover were because he advocated measures which majority of the Senate. quite regardless of party. did not consider wise expedient Any other hypothesis would have to be on the basis that the President always right; that he is never actuated by political motives and that he is always proof against pressure of interested parties. Unfortunately election to office endows no man with infallibility.