American Savings Bank (Springfield, MO)

Episode Information

Episode UID
80003171487
Episode Type
Suspension → Reopening
Bank Type
savings
Bank ID
8000317 routing
Routing Number
80-0031
Start Date
November 14, 1923
Location
Springfield, Missouri (37.215, -93.298)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
cf1cb442dd336e09

Response Measures

None

Events (2)
1. November 14, 1923 Suspension
Cause
Government Action
Cause Details
Placed in the hands of the state finance department/examiner and remained closed pending reorganization (state took charge Nov 17).
Newspaper Excerpt
The American Savings Bank of Springfield which closed on November 14 will re-organize and elect directors and officers this Thursday and resume business soon.
Source
newspapers
2. January 30, 1924 Reopening
Newspaper Excerpt
The American Savings Bank ... which was placed in the hands of the state finance department on November 17 and since that time has remained closed pending reorganization, will open its doors for business tomorrow morning, according to an announcement ... (article dated 1924-01-29).
Source
newspapers

Newspaper Articles (3)
1. January 17, 1924 The Neosho Times Neosho, MO
Article from The Neosho Times, January 17, 1924

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Article Text

HOLLAND BANK CLOSES Oldest Bank in Springfield, But Officers Say the Bank is Not Short. The Holland Banking Co., the oldest bank in South Missouri and considered the strongest bank in Springfield, was closed Tuesday by the directors following a run but officers of the bank issued a statement saying that the depositors will lose nothing. It is said that a long line of Frisco employes came to the bank to get their checks cashed and some one started the rumor that it was a "run" and the bank was compelled to close to save itself. The Holland bank had nearly seven million dollars in resources and about $4,500,000 in deposits. The capital stock was $300,000 and the surplus $101,000. E. L. Sanford is president, Claude Wright cashier, E. N. Ferguson chairman of the board. The bank had about 125 small banks in South Missouri and Arkansas as depositors. The Holland Bank was founded by Gen. C. B. Holland in 1856 and he was succeeded by his son, T. B. Holland, as president. The directors include some of the wealthiest business men of Springfield. It is the largest bank in Missouri that has closed its doors. Some two months ago the American Savings Bank of Springfield with assets of nearly two million dollars failed and has not been reopened.

2. January 17, 1924 Cedar County Republican and Stockton Journal Stockton, MO
Article from Cedar County Republican and Stockton Journal, January 17, 1924

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Article Text

FARMERS URGED TO ATTEND. Holland Bank Closed A run on the Holland Bank of Springfield forced it to close its doors Tuesday and ask the state bank commissioner to take charge. It is claimed that a false rumor caused the run and that the bank was not in bad condition at any time but as soon as the cash reserve was drawn to a point below the sum required by law the officials call the commissioner. The bank will be examined and it is thought by business men of Springfield will be re-opened in a short time The Holland Bank handles the largest volume of business of any bank in South Missouri. Its deposits are more than six and a half millions. The American Savings Bank of Springfield which closed on November 14 will re-organize and elect directors and officers this Thursday and resume business soon. Mel Preston who has been making good in the way of dairy cows in a small way has interested many other farmers in this locality in the dairy cow which it looks as if would be the one thing to put the Cedar county farmers on top. Mr. Preston seeing the need of expert advice on feeding had talked with the agent of the Agriculture Extension Service some time back, and arranged with the agent for a Demonstration Feeding Meeting to held at his place. According to the plans, the agent R. L. Furry will be here Tuesday Jan. 22, and give two demonstration, one at 9 a. m. at E. E. Council's farm, north of Stockton and one at 2 p. m. at Mel Prestons farm, south of town. The following letter was received by Mr. Preston, fixing the time and date: Dear Mr. Preston: In a recent talk with you we agreed to hold a feeding meeting for those interested in dairying in your community at your place. I will be at your place on Tuesday, Jan. 22, at 2 o'clock. This meeting will start promptly at the hour. Please notify your neighbors of this meeting and have the feeds on hand to mix balanced ration of which we spoke the day I was talking to you. Sincerely yours, R. L. Furry, District Extension Agent. It will be to the interest of every farmer in Cedar County to turn out at one of these meetings and learn more about the dairy business.

3. January 29, 1924 Springfield Leader and Press Springfield, MO
Article from Springfield Leader and Press, January 29, 1924

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Article Text

SAVINGS BANK IS NOW READY FOR BUSINESS All Requirements of State Finance Department Have Been Met By Bank. The American Savings Bank, which was placed in the hands of the state finance department on November 17 and since that time has remained closed pending reorganization, will open its doors for business tomorrow morning, according to an announcement issued in Jefferson City today by State Commissioner of Finance Frank C. Millspaugh. According to C. E. Bushnell, examiner in charge of the bank, all requirements of the state finance department have been met by the organization committee of the bank, composed of more than 40 representative business men of Springfield and southwest Missouri. "The department of finance will put forth every effort to adjust and clean the American Savings bank of every undesirable asset, and it is the opinion of the department that the bank will open tomorrow under the most favorable conditions," Bushnell stated. "The bank will open with a strong cash reserve, a large increase in deposits, and all depositors will be amply protected." The bank has a paid-up capital stock of $50,000. W. W. Viles heads the institution as president and J. E. Cahill, formerly of Willard, is cashier. Other officers are A. M. Curtis, formerly of Hartville, first vice president; J. L. Long, Springfield, second vice president. List of Stockholders. The directors and stockholders are as follows: George F. Knox, H. T. Lincoln, Frank P. McAtee, Dr. Lowe, L. J. Ellis, J. A. Wheeler, W. I. Creer, C. H. Burdett, John Glenn, W. H. Barker, W. C. Elrod, Charles H. Brown, W. J. Harville, Bruce T. DeWitt, Arthur C. Reed, E. T. Devin, F. L. Harville, George Estes, R. J. Payne, J. C. McKee, C. H. Barnett, R. L. Calhoun, W. F. Aver, J. L. Long, Roy Bedell, W. W. Viles, J. E. Cahill, A. M. Curtis, Bert Ellis, J. L. Hine, John F. Aver, E. E. E. McJimsey, International Life Insurance company, Gibbins & Swearingin, C. L. King, Patrick Martin, Roscoe C. Patterson, J. M. Bohannon, W. T. Jennings, W. T. Chandler, J. H. Perryman, Chas. Sansone, Argus Cox, D. J. Landers, Harold A. Cox. Bank Statement. Statement of the financial condition of the American Savings Bank, Springfield, Missouri, as shown of record at the close of business January 29, 1924, and as turned over to the reorganized American Savings bank by the department of finance, State of Missouri: Resources. Loans, personal and collateral . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 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