Sarah Olive Bank (St Louis, MO)

Episode Information

Episode UID
5652436891597
Episode Type
Suspension β†’ Closure
Bank Type
state
Bank ID
565243689 hash
Start Date
January 17, 1933
Location
St Louis, Missouri (38.627, -90.198)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
95ffef919a44364e

Response Measures

None

Description

Bank failed to open Jan 1933 and remained closed with claims filed later in Sept; specific trigger not stated.

Events (3)

1. January 17, 1933 Suspension
Cause
Macro News
Cause Details
Part of a wave of small St. Louis banks closing in mid-January 1933 (city/county banking distress)
Newspaper Excerpt
Sarah-Olive bank of St. Louis, deposits $174,572, total resources $425,653; (listed among eight St. Louis banks failed to open yesterday)
Source
newspapers
2. September 14, 1933 Other
Newspaper Excerpt
Lists are for Chouteau Trust Co. and Sarah-Olive Bank. Reports listing claims of ... $313,927 against the Sarah-Olive Bank, both of which closed last January, were filed ... yesterday by Creighton B. Calfee, special deputy state finance commissioner.
Source
newspapers
3. September 14, 1933 Receivership
Newspaper Excerpt
Reports listing claims of ... $313,927 against the Sarah-Olive Bank ... were filed with the Recorder of Deeds yesterday by Creighton B. Calfee, special deputy state finance commissioner.
Source
newspapers

Newspaper Articles (2)

Article Text

Eight More St. Louis Banks Close Their Doors St. Louis, Jan. 17.β€”Eight St. Louis banks failed to open yesterday, making 16 banks with aggregate deposits exceeding $15,000,000 closed in the city and St. Louis county within the last 12 days. Most of the closed institutions were small neighborhood banks. Those which closed today were: Twelfth Street National bank, capital stock $300,000; deposits, $945,393; LaClede Trust Company, deposits $1,111,013, total resources $1,789,516; Chouteau Trust Company, deposits $668,835; total resources $1,019,141; Natural Bridge Trust Company, deposits $913,951, total resources $1,265,956; Lowell bank, deposits $2,457,134, total resources $3,517,290; Grant State bank, deposits $1,190,178, total resources $1,718,534; Sarah-Olive bank of St. Louis, deposits $174,572, total resources $425,653; Scruggs Vandervoort and Barney bank, operated in a downtown department store of the same name, deposits $1,762,642, total resources $2,507,530. PIG TURNS TABLES Salt Lake Cityβ€”The pig which Harold R. Howard was trying to slaughter turned butcher itself. The pig was hung from a nail and Howard had stabbed it in the throat once. Thinking the one stab had not been sufficient, Howard grabbed one of the pig's legs and raised the knife a second time. The pig gave a frantic kick which caused the knife to slip and cut Howard's hand. He lost considerable blood before he reached the hospital.


Article Text

CLAIMS AGAINST TWO CLOSED BANKS FILED Lists Are for Chouteau Trust Co. and Sarah-Olive Bank. Reports listing claims of $742,151 against the Chouteau Trust Company and $313,927 against the Sarah-Olive Bank, both of which closed last January, were filed with the Recorder of Deeds yesterday by Creighton B. Calfee, special deputy state finance commissioner. The claims against the Chouteau Trust Company were as follows: Savings deposits, $249,582; individual deposits, $212,698; miscellaneous claims, $207,165; certificates of deposit, $68,244; New York drafts, $9174; treasurers' checks, $3205 and systematic savings deposits, $1141. Among the larger miscellaneous claims were: Francis G. Sebeck, $53,000; E. W. Hilgeman, $42,500; Susan E. Hemp, $17,189; St. Louis Union Trust Company, $14,400; S. L. St. Jean, $14,190, and former Mayor Kiel, $13,000. Resources of this bank at the time it closed were listed at $1,043,272.33. The claims against the Sarah-Olive Bank are as follows: Individual deposits, $85,048; savings deposits, $36,158; systematic savings, $456.50; certificates of deposit, $1020; cashiers' checks, $82.47; New York drafts, $57, and miscellaneous claims, $91,104. Among the miscellaneous claims was one for $68,654 by the Reconstruction Finance Corporation. At the time it closed the assets of this bank were listed at $425,653.