Old Trails Bank (Boonville, MO)

Episode Information

Episode UID
1993292991546
Episode Type
Run → Suspension → Reopening
Bank Type
state
Bank ID
199329299 hash
Start Date
October 31, 1928
Location
Boonville, Missouri (38.974, -92.743)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7cceb60bc4617afb

Response Measures

None

Description

Bank type inferred from later reopening as Kemper State Bank; original charter type not explicitly stated.

Events (3)
1. October 31, 1928 Run
Cause
Rumor Or Misinformation
Cause Details
Heavy unexplained run; contemporaneous accounts cite no reason though later mention rumors and loss of confidence in management.
Newspaper Excerpt
closed today by its board of directors following a heavy run yesterday.
Source
newspapers
2. November 1, 1928 Suspension
Cause
Rumor Or Misinformation
Cause Details
Board closed the bank after run drained ready cash; finance commissioner said institution was in good shape but ready cash was cleaned out.
Newspaper Excerpt
The Old Trails Bank ... was closed today by its board of directors following a heavy run yesterday.
Source
newspapers
3. November 26, 1928 Reopening
Newspaper Excerpt
the commissioner today chartered the Kemper Bank at Boonville ... takes over the Old Trails Bank which closed November 1; Col. Johnston ... put up $200,000 to make the reorganization possible.
Source
newspapers

Newspaper Articles (13)
1. November 1, 1928 Fulton Daily Sun-Gazette Fulton, MO
Article from Fulton Daily Sun-Gazette, November 1, 1928

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Article Text

RUN CLOSES BOONVILLE BANK Institution Organized in May to Takes Over Defunct Organization Closed Doors Thursday. By ASSOCIATED PRESS Jefferson City, Mo., Nov. 1-The Old Trails Bank, at Boonville, organized May 21, 1928, to take over the bank building of the Farm Trust Company, of Boonville, was closed today by its board of directors following a heavy run yesterday. Notice of the closing was received at the state finance offices today. No reason for the run was known by the bank's officials or finance department officials. The Institution, according to S. L. Cantley, finance commissioner, was in good shape, but the run cleaned out all ready cash. Total resources amounted to $571,800. L. J Mulligan, a state bank examiner, has been directed to take charge. H. A. Creagan was president, H. J. Miller, cashier and Col. T. A Johnston, head of Kemper Military School at Boonville, was chairman of the board of directors. Efforts probably will be made to reopen the institution, it is understood here.

2. November 1, 1928 The St. Louis Star and Times St. Louis, MO
Article from The St. Louis Star and Times, November 1, 1928

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Article Text

BOONVILLE BANK ELECT SIDENER AND AFTER RUN CAULFIELD TO SAVE CLOSED DRAINS IT OF CASH JOBS, CRY State Institution to Shut Doors This YearWill Probably Reopen. JEFFERSON CITY Nov. (Special. run yesterday that drained it of cash. the Old Trails Bank of Boonville was closed by its board of direcotrs today There was no reason for the run. The bank was organized May 21 last to take over the commercial the Farmers Trust Company of Boonville It the state bank to close this It is believed that the bank will be reorganized and resume business.

3. November 1, 1928 The Sedalia Democrat Sedalia, MO
Article from The Sedalia Democrat, November 1, 1928

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Article Text

BOONVILLE Run Institution on Caused The Directors to Act This Morning The Associated Press. JEFFERSON Mo., Nov. Old Trails Bank at Boonville, organized May 21, 1928, to take the commercial banking bus-i ness of the Farmers Trust Company Boonville, was closed today by its board of directors, following heavy yesterday. Notice the closing received the state finance department today. No reason for the was known run officials of the bank or the finance department. The institution, according to Cantley, finance commissioner, in good shape, the run cleaned out all its ready cash. had total resources $572,800. Mulligan, state bank aminer, has been directed to take charge. Creagan was president, H. Miller, cashier, and Col. Johnston, head of Kemper Military Academy at Boonville chairof the board of directors. Efforts probablp will made to the institution, it is underreopen stood. The bank's last statement showed $445,000 loans, $72,000 bills payable, deposits. had capital and $10,000 surplus.

4. November 1, 1928 The Daily News and Intelligencer Mexico, MO
Article from The Daily News and Intelligencer, November 1, 1928

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Article Text

OLD TRAILS BANK AT BOON. VILLE CLOSED AFTER RUN By The Associated Press JEFFERSON CITY, Mo., Nov. 1.The Old Trails Bank at Boonville. or ganized May 21, 1928. to take over the commercial banking business of the Farmers Trust Company at Boonville, was closed today by its board of directors following a heavy run yes terday. No reason for the run was known by officials of the bank. The institution according to F. L. Cantley finance commissioner was in good shape but the run cleaned out all its ready cash. It had total resources of

5. November 1, 1928 Columbia Daily Tribune Columbia, MO
Article from Columbia Daily Tribune, November 1, 1928

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Article Text

BANK CLOSED TODAY Run Late Yesterday Causes Action by Directors— May Be Reopened. CITY, Mo., Nov. Old Trails Bank Boonville organized May 1928. to take of the Farmers' Trust Company of Boonville. closed today by its board of directors, following heavy run yesterday. Notice the closing the state finance department No reason for the run was known by officials bank the finance department. The institution. according to Cantley,

6. November 2, 1928 The Sedalia Democrat Sedalia, MO
Article from The Sedalia Democrat, November 2, 1928

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Article Text

BOONVILLE Run on Caused The Directors to Act This Morning Press. JEFFERSON CITY, Mo., Nov. Old Trails Bank Boonville, organized May 1928, to take the commercial banking bus-1 of the Farmers Trust Company Boonville, closed today board directors, following heavy yesterday. Notice of the closing received the state finance department today. reason for the known officials of the bank findepartment. The institution, according to Cantley, finance in good the run cleaned out all its ready had total resources $572,800. Mulligan, state bank aminer, has been directed to take charge. Creagan was president, Miller, cashier, Col. Johnston, head Kemper Military Academy Boonville chairthe board of directors. Efforts probablp be made reopen the institution, it stood. The bank's last statement showed loans, $72,000 bills payable, $439,500 deposits. had capital and $10,000 surplus.

7. November 8, 1928 Rich Hill Mining Review Rich Hill, MO
Article from Rich Hill Mining Review, November 8, 1928

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Article Text

BOONVILLE, MO., BANK CLOSED AFTER RUN Old Trails Institution Declared to Be in Good Shape. Jefferson City, Mo., November 1.-The Old Trails Bank at Boonville, organized May 21, 1928, to take over the commercial banking business of the Farmers' Trust Company of Boonville, was closed today by the Board of Directors following a heavy run yesterday Notice of the closing was received at the State Finance Department today. No reason for the run was known by officials of the bank or the Finance Department. The institution, according to S. L. Cantley, Finance Commissioner, was in good shape, but the run cleaned out all its ready eash. 1: had total resources of $572.81 Efforts probably will be made to reopen the institution, it 18 understood. The bank's last state. ment showed $445,000 loans, $72, 000 bills payable, $439,500 deposits. It had $50,000 capital and $10,000 surplus.

8. November 8, 1928 The Bulletin Linneus, MO
Article from The Bulletin, November 8, 1928

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Article Text

BOONVILLE, MO., BANK CLOSED AFTER RUN Jefferson City, Mo., Nov. Old Trails Bank at Boonville, organized May 21, 1928, to take over the commercial banking business of the Farmers' Trust Company of Boonville, was closed today by the Board of Directors, following heavy run yesterday. Notice of the closing was received at the State Finance Department today. No reason for the run was known by officials of the bank or the Finance Department. The institution, according to S. L. Cantley, Finance Commissioner, was in good shape, but the run cleaned out all its ready cash. It had total resources of $572. 800. L. J. Munigan, state bank examiner, has been directed to take charge. H. A. Creagen was president, H. Miller, cashier, and Col. T. Johnston, head of Kemper Military Academy at Boonville, was chairman the Board of Directors. Efforts probably will be made to reopen the institution. it is understood. The bank's last statement showed $445,000 loans, $72,000 bills $439,500 deposits. It had payable, $50,000 capital and $10,000 surplus.

9. November 26, 1928 The Daily News and Intelligencer Mexico, MO
Article from The Daily News and Intelligencer, November 26, 1928

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Article Text

COL. JOHNSTON GIVES FORTUNE TO SAVE BANK Kemper Bank is Organized at Boon ville to Take Over Old Trails Bank Which Was Closed. By The Associated Press. JEFFERSON CITY, Nov. 26.-Using almost his entire personal fortune, Colonel T. A. Johnston, SO. head of Kemper Military Academy is given full credit by S. L. Cantley, state finance commissioner. for the re-opening of the Old Trails Bank at Boonville. The commissioner today chartered the Kemper Bank at Boonville with $50,000 capital stock and it takes over the Old Trails Bank which closed November 1. last. Colonel Johnston. a director in the Old Trails Bank came forward to save the community's financial prestige and put up $200,000 to make the reorganization possible. Cantley said Directors of the Old Trails bank closed that institution which had $500. 000 resources after a heavy run. No reason for the run was known. Its ready cash was cleaned out. Colonel Johnston though only a director. would not stand for the ulti mate result which would have been a blow to the community's financial stability. SO came forward with his personal fortune to make reorganization possible

10. November 26, 1928 Columbia Daily Tribune Columbia, MO
Article from Columbia Daily Tribune, November 26, 1928

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Article Text

JOHNSTON OWN PERSONAL FORTUNE BOONVILLE BANK TO REOPEN Puts Up $200,000 to Make Possible Reorganization Which Closed Recently After Heavy Run of Mysterious Origin. almost his entire personal Mo., Nov. Military Acadfortune, Col. Johnston, head Kemper Cantley, state finance Boonville, given credit by today of the the re-organization today chartered Old Trails Bank Boonville. the Kemper Bank Boonville, with capital stock, takes over Old Trails Bank, which closed Nov. last, followheavy director in the Old Trails Bank, came forward and put up $200,000 to save the community's financial prestige make re-organization Cantley the institution, which had Old Trails Bank closed total after heavy reason for E. B. run rumors starting Loss confidence in the DIED management, responsible, Cantley ready cash was Known Citizen of Cocleaned and it impossible Well keep open. lumbia Succumbs to ComCol. Johnston, though only director, would stand for the plication of Maladies. ultimate result, which would have the Everett Chandler 68 years financial stability, the finance known citizen of Coand came lumbia for many years, died yesforward with his personal fortune his the terday make re-organization pos1607 Windsor street. complica sible. tion of maladies confined Mr. In these days of bank failures, Colonel Johnston's action rare, William Kemper, Jr., son Kemper, prominent Kansas banker Demoleader in Missouri, president of Kemper Bank. official from the ganization defunct Old Trails Bank Col. Johnston, who into the new institution the same position held in the old. Officers of the Old Trails Bank president, Miller, cashier. capital and $10,000 surplus.

11. November 27, 1928 The Parsons Daily Sun Parsons, KS
Article from The Parsons Daily Sun, November 27, 1928

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Article Text

Gives Personal Fortune for Bank JEFFERSON CITY, Mo., Nov. almost his entire personal fortune, Col. T. A. Johnston, 80, head of Kemper Military academy at Boonville, is given full credit by S. L. Cantley, state finance commissioner, for the reorganization and re-opening of the Old Trails bank at Boonville The commissioner today chartered the Kemper bank at Boonville, with $50,000 capital stock, and takes over the Old Trails bank, which closed Nov. 1, last, following heavy run. Colonel Johnston, a director in the Old Trails bank, came forward to save the community's financial prestige and put up $200,000 to make the reorganization possible, Cantley said. Directors of the Old Trails bank closed the institution, which had $571,000 total resources, after heavy run. No reason for the run was known, rumors starting it. Loss of confidence in the management was responsible, Cantley said. Its ready cash WES cleaned and it was impossible to keep it open. Colonel Johnston, though only a director, would not stand for the ultimate result, which would have been a blow to the community's financial stability, the finance commissioner said, and so came forward with his personal fortune to make the reorganization possible. Try Sun Wantad.

12. December 1, 1928 Fulton Daily Sun-Gazette Fulton, MO
Article from Fulton Daily Sun-Gazette, December 1, 1928

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PRAISES BANK REORGANIZERS S. L. Cantley Points to Col. Johnston and Dr. W. A. Nelson as Business Examples Jefferson City, Mo., Dec. 1Modern business competition generally is supposed to be ruthless, but chivalry is not dead in the commercial world, according to S. L. Cantley, state finance commissioner, who points to the reorganization of a broken bank in Boonville for his example. The commissioner already has praised highly Col. T. A. Johnston, eighty-year-old head of Kemper Military Academy at Boonville, for coming forward, as a bank director, and putting up almost his entire personal fortune, more than $200, 000, to reopen and rebuild the defunct Old Trails Bank in the Cooper county city. He now adds that considerable credit should go also to Dr. W. A. Nelson, president of the Boonville National Bank and Democratic nominee for governor in 1924. Dr. Nelson, whose bank is a competitor of the reoragnized Old Trails Bank, which closed after a heavy run recently, was instrumental in bringing about the reorganization of the institution, now known as the Kemper Bank of Boonville. Dr. Nelson persuaded William T. Kemper, Sr., of Kansas City, prominent banker and Democratic state leader, to take an interest in the new institution, Cantley said. William T. Kemper, Jr., his son, heads the new bank. In letter to Dr. Nelson, the commissioner said: "I want to thank you personally and most sincerely for the part you had in bringing about the reopening of the Old Trails Bank and its subsequent acquirement by the Kemper interests of Kansas City. "Few men would have done what you did for the benefit of the community, that is Invite and encourage strong competition with your interests to save others in whom you had only a passing interest, so to speak. It is one of those outstanding deeds of a real man, one who looks to higher and nobler things than sordid gain realized by selfish means. If we had more of your spirit abroad in the state there would be fewer financial troubles and less heartache than we find as It is today."

13. February 6, 1934 Evening Star Washington, DC
Article from Evening Star, February 6, 1934

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KEMPER PRESIDENT DIES Dr. Thomas Johnston Reopened Bank After Run. BOONVILLE, Mo., February 6 (AP).Dr. Thomas A. Johnston, 85, banker, president of Kemper Military School of Boonville and a Confederate veteran, died at his home late yesterday. A graduate of the old Kemper Family School, Dr. Johnston became associated with the military academy when it was founded by Frederick T. Kemper in 1872. In the Fall of 1928, Dr. Johnston staked his personal fortune to rehabilitate the Old Trails Bank, of which he was president, after it was closed by a run. He assumed frozen assets and the institution reopened 13 days later as the Kemper State Bank. Patrons did not lose a cent. The bank now has deposits of more than $1,000,000.