Middleton Bank (Waverly, MO)

Episode Information

Episode UID
4401618391265
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
440161839 hash
Start Date
May 6, 1905
Location
Waverly, Missouri (39.209, -93.518)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d5118a3b9ef10ffe

Response Measures

None

Description

Failure caused by an absconding/defaulting cashier; receiver appointed and bank remained defunct.

Events (3)
1. May 6, 1905 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Defalcation and absconding of cashier E. H. Lewis led to the bank's failure.
Newspaper Excerpt
The good people of Waverly ... have suffered a serious calamity in the failure of the Middleton bank by the defalcation of a trusted official of that institution.
Source
newspapers
2. June 22, 1905 Receivership
Newspaper Excerpt
Charles Lyons, receiver for the Middleton Bank of Waverly, filed inventory.
Source
newspapers
3. August 5, 1905 Other
Newspaper Excerpt
Charles Lyons, receiver of the Middleton bank, ... sold to the highest bidder the bank building and fixtures. The Waverly bank bought the property for $3,950.
Source
newspapers

Newspaper Articles (11)
1. May 6, 1905 The Lexington Intelligencer Lexington, MO
Article from The Lexington Intelligencer, May 6, 1905

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Article Text

The good people of Waverly and vicinity have suffered a serious calamity in the failure of the Middleton bank by the defalcation of a trusted official of that institution. The total loss in money is doubtless much less than the people of that com munity and of every community have suffered without knowing it in periods of business depression and financial panic. But the injury of the present misfortune is much greater. It can hardly fail to create a paralyzing distrust which some will never get over and which many will be influenced by to their own harm and to the harm of the business interests of the place. Business courage and confidence have received a stunning blow. Even if the de-

2. June 24, 1905 The Lexington Intelligencer Lexington, MO
Article from The Lexington Intelligencer, June 24, 1905

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Article Text

Proceedings in the Circuit Court. At the adjourned April term of the circuit court held in Lexington June 22, Charles Lyons, receiver for the Middleton Bank of Waverly, filed inventory. Various set offs and allowances were made by the court. The Union National Bank of Kansas City and Mechanics American National Bank of St. Louis were granted permission to institute suits against the receiver of the Middleton Bank.

3. August 5, 1905 The Lexington Intelligencer Lexington, MO
Article from The Lexington Intelligencer, August 5, 1905

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Article Text

Bank Building Sold. Waverly Watchman: Charles Lyons, receiver of the Middleton bank, came down from Lexington today and gold to the highest bidder the bank building and fixtures. The Waverly bank bought the property for $3,950,

4. July 19, 1907 The Marshall Republican Marshall, MO
Article from The Marshall Republican, July 19, 1907

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Article Text

Big Suits Filed. A receiver brings suit against the directors of the defunct Middleton bank for $77,000. All of the defendants of the suit are prominent and well-to-do citizens of the Waverly country and it will doubtless be a warmly contested legal battle from start to finish. The defendants in the suits are S. McCalloway. James L. Bray and Rena C Chappell and Nannie C. Steel, executrices of the estate of Nathan Corder, John E. Corder and Anna Galbraith.Waverly Times.

5. August 29, 1908 The Lexington Intelligencer Lexington, MO
Article from The Lexington Intelligencer, August 29, 1908

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Article Text

The Circuit Court Held That the Jurymen Went Against Evidence. AN APPEAL WAS TAKEN It Will Probably Be Some Time Before the Middleton Bank Matters Can Be Settled-Becker's Writ Refused. After listening to many arguments on both sides Tuesday, Judge Davis of the Circuit court gave his decision setting aside the verdict of the jury in the case of Chas. Lyons, receiver, vs. John E. Corder et al. Judge Davis gave as his reason that the verdict was against the weight of the evidence. The plaintiff immediately made a motion for an appeal, which was allowed. So it will be some time before this case gets out of the courts. C. Lyons, as receiver of the old Middleton bank of Waverly, which was put out of business by the absconding cashier, E. H. Lewis, brought suit against the directors of the bank on the ground that they had not exercised due vigilance in watching the cashier. A jury last week gave a verdict for the plaintiff for $18,955.90. Mr. Lyons also got a verdict of $10,000 from the National Surety company, which was on the bond of the defaulting cashier. The defendant appealed and the decision has not been given. The case of E.C. Becker, relator, vs. County Court of Lafayette County et al took up most of the time of the Circuit court Wednesay. The case was argued all day. The relator filed a motion to strike out part of the respondant's answer, which motion was overruled by the court and a writ of mandamus refused. The relator then filed a motion for a new trial, this motion being overruled also. Anappeal was taken to to the Kansas City Court of Appeals. The case of the Hy dralic Press Brick Company V8, John E. Burden was dismissed by the plaintiff.

6. October 8, 1908 Morgan County Republican Versailles, MO
Article from Morgan County Republican, October 8, 1908

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Article Text

NOMINEES FOR CONGRESS. 1st District-Wilbur F. Chamberlain, Hannibal. % 2nd-Edward F. Haley, Moberly. 3rd-Henry L. Eads, Pattonsburg. % X X 4th-Morris A. Reed, St. Joseph. 5th-Edgar C. Ellis, Kansas City. % % 6th-William O. Atkeson, Butler. % 7th-John Whitaker, Weaubleau. 8th-William C. Irwin, Jefferson % City. 9th-Reuben F. Roy, New London. % 10th-Richard Bartholdt, St. Louis. % 11th-William T. Findlay, St. % Louis. % 12th-Harry N. Coudrey, St. Louis. % 13th-Politte Elvins, Elvins. 14th-Chas. A. Crow, Caruthersville. % 15th-Chas. H. Morgan, Joplin. 16th-Arthur P. Murphy, Rolla. department has been entirely self-supporting. The fund which had accumulated in this department during the ten years of the operation of the banking law was $3,638.61. During the four years just preceding the present incumbency nothing whatever was added to that fund. During the three and one-half years of Mr. Swanger's administration the fund has been increased to $8,330.56. Examinations of banks have been rigid, impartial and complete. The reports of the several examiners have been subjected to the most thorough scrutiny. and any violation of the banking laws, or the essential rules of good banking have been called to the attention of the bank without fear or favor and a strict compliance of the law required. During the present administration several banks have been closed. others that were unsafe required to liquidate; others have consolidated, making stronger institutions, and everything done that could be accomplished to place the banking business of the State upon an absolutely safe and stable basis. During Mr. Swanger's administration only four banks and trust companies he has closed resulted in loss to the depositors. One of these was the Middleton Bank at Waverly (resulting from a defaulting cashier). where the depositors will probably lose about 5 to 10 per cent of their deposits. Another is the Joplin Savings Bank, caused by the reckless investments of the president of the institution, where the depositors will lose a percentage of their deposits. Another is the Bankers Trust Company of Kansas City caused by the Brady failure. Reckless investments by the officers of the institution and a slump in their values caused by the panic will cause a loss to the depositors of about 57 per cent of their deposits. Last, but not least, the Salmon & Salmon Bank of Clinton. The most disastrous by far, the causes of the failure of which are well known to the people of the State. It has been the earnest effort of the present administration, whenever It was possible, to prevent receiverships for banks, and many thousands of dollars have been saved to depositors and stockholders by the efforts of Mr. Swanger to

7. October 8, 1908 The Rich Hill Tribune Rich Hill, MO
Article from The Rich Hill Tribune, October 8, 1908

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department has been entirely self-supporting. The fund which had accumulated In this department during the ten years of the operation of the banking law was $3,638.61. During the four years just preceding the present incumbency nothing whatever was added to that fund. During the three and one-half years of Mr. Swanger's administration the fund has been increased to $8,830.56. Examinations of banks have been rigid, impartial and complete. The reports of the several examiners have been subjected to the most thorough scrutiny, and any violation of the banking laws, or the essential rules of good banking have been called to the attention of the bank without fear or favor and a strict compliance of the law required. During the present administration several banks have been closed. others that were unsafe required to liquidate: others have consolidated, making stronger Institutions, and everything done that could be accomplished to place the banking business of the State upon an absolutely safe and stable basis. During Mr. Swanger's administration only four banks and trust companies he has closed resulted in loss to the depositors. One of these was the Middleton Bank at Waverly (resulting from a defaulting cashier), where the depositors will probably lose about 5 to 10 per cent of their deposits. Another is the Joplin Savings Bank, caused by the reckless investments of the president of the institution, where the depositors will lose a percentage of their deposits. Another is the Bankers Trust Company of Kansas City caused by the Brady failure. Reckless investments by the officers of the institution and a slump in their values caused by the panic will criuse a loss to the depositors of about 57 per cent of their deposits. Last, but not least, the Salmon & Salmon Bank of Clinton. The most disastrous by far, the causes of the failure of which are well known to the people of the State, It has been the carnest effort of the present administration, whenever It was possible, to prevent receiverships for banks, and many thousands of dollars have been saved to depositors and stock-

8. October 9, 1908 The Marshall Republican Marshall, MO
Article from The Marshall Republican, October 9, 1908

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department has been entirely self-supporting. The fund which had accumulated in this department during the ten years of the operation of the banking law was $3,638.61. During the four years just preceding the present incumbency nothing whatever was added to that fund. During the three and one-half years of Mr. Swanger's administration the fund has been increased to $8,330.56. Examinations of banks have been rigid, impartial and complete. The reports of the several examiners have been subjected to the most thorough scrutiny, and any violation of the banking laws, or the essential rules of good banking have been called to the attention of the bank without fear or favor and a strict compliance of the law required. During the present administration several banks have been closed, others that were unsafe required to liquidate; others have consolidated, making stronger institutions, and everything done that could be accomplished to place the banking business of the State upon an absolutely safe and stable basis. During Mr. Swanger's administration only four banks and trust companies he has closed resulted in loss to the depositors. One of these was the Middleton Bank at Waverly (resulting from a defaulting cashier), where the depositors will probably lose about 5 to 10 per cent of their deposits. Another is the Joplin Savings Bank, caused by the reckless investments of the president of the institution, where the depositors will lose a percentage of their deposits. Another is the Bankers Trust Company of Kansas City caused by the Brady failure. Reckless investments by the officers of the institution and a slump in their values caused by the panic will cause a loss to the depositors of about 57 per cent of their deposits. Last, but not least, the Salmon & Salmon Bank of Clinton. The most disastrous by far, the causes of the failure of which are well known to the people of the State. It has been the earnest effort of the present administration, whenever it was possible, to prevent receiverships for banks, and many thousands of dollars have been saved to depositors and stockholders by the efforts of Mr. Swanger to

9. October 9, 1908 The Montgomery Tribune Montgomery City, MO
Article from The Montgomery Tribune, October 9, 1908

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Article Text

department has been entirely self-supporting. The fund which had accumulated in this department during the ten years of the operation of the banking law was $3,638.61. During the four years just preceding the present incumbency nothing whatever was added to that fund. During the three and one-half years of Mr. Swanger's administration the fund has been increased to $8,330.56. Examinations of banks have been rigid, impartial and complete. The reports of the several examiners have been subjected to the most thorough scrutiny, and any violation of the banking laws, or the essential rules of good banking have been called to the attention of the bank without fear or favor and a strict compliance of the law required. During the present administration several banks have been closed. others that were unsafe required to liquidate; others have consolidated, making stronger institutions, and everything done that could be accomplished to place the banking business of the State upon an absolutely safe and stable basis. During Mr. Swanger's administration only four banks and trust companies he has closed resulted in loss to the depositors. One of these was the Middleton Bank at Waverly (resulting from a defaulting cashier), where the depositors will probably lose about 5 to 10 per cent of their deposits. Another is the Joplin Savings Bank, caused by the reckless investments of the president of the institution, where the depositors will lose a percentage of their deposits. Another is the Bankers Trust Company of Kansas City caused by the Brady failure. Reckless investments by the officers of the institution and a slump in their values caused by the panic will cause a loss to the depositors of about 57 per cent of their deposits. Last, but not least, the Salmon & Salmon Bank of Clinton. The most disastrous by far, the causes of the failure of which are well known to the people of the State. It has been the earnest effort of the present administration, whenever it was possible, to prevent receiverships for banks, and many thousands of dollars have been saved to depositors and stockholders by the efforts of Mr. Swanger to

10. June 13, 1913 The Lexington Intelligencer Lexington, MO
Article from The Lexington Intelligencer, June 13, 1913

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DECISON AGAIST DIRECTORS Supreme Court Sustains Contention of Receiver LyonsDirectors Liable. Alexande: Graves and Horace F. Blackwell, attorneys for Charles Lyons, receiver of the Middleton Bank at Waverly, received word recently that the Missouri Supreme Court had rendered a favorable decision in the case of Charles Lyons, Receiver of the Middleton Bank VS. John E. Corder, Jas. L. Bray, Samuel Mc. Callaway, Annie E. Galbreath, Nannie C. Steele and Rena C. Chappell, Executrices of last will and estate of Nathan Corder, deceased, and E. H. Lewis, the absconding cashier, who wrecked the bank. This was a suit against the directors of the defunct bank in which the receiver alleged that the directors were guilty of neglect in looking after the bank's affairs. It was tried at the August term 1908 of the Lafayette county circuit court and the jury returned a verdict for $18,955.90. Judge Samuel Davis set aside the verdict on the grounds that it was against the weight of evidence, and Grave3 and Blackwell appealed from this ruling. The recent decision of the supreme court sustains their contention. The amount involved now, counting accrued interest, foots up about $23,000. Auother suit is now pending against another set of directors who served during a part of the period of Cashier Lewis' peculations.

11. February 23, 1917 The Lexington Intelligencer Lexington, MO
Article from The Lexington Intelligencer, February 23, 1917

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CIRCUIT COURT. Many Cases Disposed of Including Middleton Bank Receivership. The case of Herman Arndt VS. Henry R. Eisenmann which was begun Friday morning was concluded Saturday afternoon when the jury returned a verdict for the plaintiff in the sum of $175.00. On November 12, 1915, Mr. and Mrs. Arndt were passing the home of Mr. Eisenmann when the latter's dog ran out barking and frightened Mr. Arndt's team. They ran away throwing Mr. Arndt out, breaking his arm and causing permanent injury. The suit was to recover damages to the amount of $5,000. Aull & Aull represented the plaintiff, and Lyons & Ristine the defendant. The case of J. T. Larkin VS. Mabel Strodtman, damages, was commenced Monday before a jury, and was given to the jury Tuesday. This case grew out of an automobile collision. The plaintiff was represented by Chas. A. Keith, and the defendant by Lyons & Ristine. The jury failed to agree and was discharged. The case of Rolla Jones VS. Waverly Coal Co., damages, was settled out of court by the defendant paying the plaintiff $900.00. Chas. Lyons, receiver Middleton Bank, Waverly, Mo., filed his final settlement and was discharged. The litigation in this case was finished about ten years ago, and the intervening time has been taken up by Mr. Lyons collecting the assets and making proper distribution of the proceeds. Through the efforts of Mr. Lyons the depositors realized 95% of their deposits.