First National Bank (Ludlow, MO)

View Charter #7900 on SPMC View balance sheet

Episode Information

Episode UID
790001573
Episode Type
Suspension → Closure
Bank Type
national
Bank ID
79000 national
Charter Number
7900
Start Date
January 9, 1931
Location
Ludlow, Missouri (39.655, -93.702)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
7f60732716e8f84f

Response Measures

None

Receivership Details

Depositor recovery rate
98.1%
Date receivership started
1931-01-09
Date receivership terminated
1936-05-29
OCC cause of failure
Economic conditions
Share of assets assessed as good
64.0%
Share of assets assessed as doubtful
20.8%
Share of assets assessed as worthless
15.2%

Description

Newspaper articles report a receiver appointed in July 1934, but government-record receivership date is 1931-01-09; date conflict noted.

Events (3)
1. September 2, 1905 Chartered
Source
historical_nic
2. January 9, 1931 Receivership
Source
historical_nic
3. January 9, 1931 Receivership
Newspaper Excerpt
S. A. Browning ... assumed his new duties as receiver for ... First National Bank of Ludlow.
Source
newspapers

Newspaper Articles (3)
1. July 20, 1934 Kansas City Journal Kansas City, MO

Article Text

NAMED BANK RECEIVER Chillicothe Man in Charge of Six. (UP) S. A. Browning of Chillicothe Friday assumed his new duties as receiver for six national banks in this area following his appointment by F. G. Awalt, acting comptroller of the currency He succeeds E. B Todd of Nevada in supervision of the First National bank of Chillicothe, First National bank of Ludlow. First National bank of Brookfield, First National bank of Marceline. First National bank of Brunswick and the First National bank of Sweet Springs Browning mailed his resignation as Livingston county representative in the state legislature to Governor Park. He said his resignation as receiver for four'state banks would not be forwarded until completion of dividend disbursements at state banks in Chillicothe, Wheeling. Breckinridge and Sampsel. His successor as receiver of the state banks will be named by Q. H. Moberly, state finance commissioner.

2. July 21, 1934 Columbia Missourian Columbia, MO

Article Text

NEW BANK RECEIVER NAMED S A. Browning, of Chillicothe, to Take Over Federal Institutions CHILLICOTHE July 21 A. Browning, of Chillicothe, yesterday assumed his new duties as receiver for six National Banks in this area following his appointment by F. G. Awalt, acting comptroller of the currency. He succeeds E. B. Todd of Nevada, in supervision of the First National Bank of Chillicothe, First National Bank of Ludlow, First National Bank of Brookfield; First National Bank of Marceline, First National Bank of Brunswick, and the First National Bank of Sweet Springs. Browning immediately mailed his resignation as Livingston County representatve in the State Legislature to Gov. Guy B. Park, He said his resignation as receiver for four state banks would not be forwarded until completion of dividend disbursements at state banks in Chillicothe, Wheeling, Breckenridge and Sampsel. His successor as receiver of the state bank will be named by O. H. Moberly, state finance commissioner. the Potashnick truck service operating from southwest Missouri, finding the concern guilty of "deliberately and intentionally. defrauding the state out of fees that should have been paid for the purpose of maintaining the highways of the state." The commission said the truck line's scheme "consisted simply of giving to the truck drivers travel orders which would show authority to operate that particular truck for number of days, while the duplicate travel order which was to be sent to the commission (and was the only means the commission had to determine the amount of fees owned) showed much less amount than was actually due." J. Caskie Collet, commission chairman, said investigation showed that the Potashnick company had failed to pay "between $800 and $900 due the state" in extra carrier fees.

3. July 27, 1934 The Marceline News and the Bucklin Herald Marceline, MO

Article Text

NEW RECEIVER AT NATIONAL BANK HERE S. A. Browning, Chillicothe, Succeeds E. B. State Representative. Browning of Chillicothe has been appointed receiver for the First National Bank here and five other national banks in this territory. Mr. Browning succeeds Todd of Nevada, who was appointed several months ago. Besides the bank here, Mr. Browning will have charge of the closed First National Banks at Chillicothe, Brookfield, Ludlow, Brunswick and Sweet Springs. The six banks have total souces of about million dollars and between 5,000 and 6,000 depositors. Mr. Browning has been resentative in the state legislature from Livingston County. Before his as a national appointment bank receiver, he was the receiver for four state banks.