Bank of Puxico (Puxico, MO)

Episode Information

Episode UID
80117671488
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
8011767 routing
Routing Number
80-1176
Start Date
December 24, 1923
Location
Puxico, Missouri (36.950, -90.158)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4ee80f41a1911cf6

Response Measures

None

Description

OCR in some articles garbled the year; evidence shows failure on December 24, 1923.

Events (3)

1. December 24, 1923 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank became insolvent (large shortage estimated ~$400,000) leading to suspension/closure.
Newspaper Excerpt
remembered that the Bank of Puxico failure on the 24th of 1923. Thirteen days before the bank suspended
Source
newspapers
2. May 10, 1924 Other
Newspaper Excerpt
W. F. Walser, president of the defunct Bank of Puxico, which failed with loss to depositors of more than $400,000, surrendered himself to the authorities here today to face eight indictments ... Walser was released on a $28,500 bond. (Webb City Sentinel, 1924-05-10).
Source
newspapers
3. * Receivership
Newspaper Excerpt
John Gloriod, who has charge of the liquidation of the affairs of the Bank of Puxico for the finance commissioner testified ... depositors ... likely to recover only ten cents on the dollar of their claims and a total loss on ... (Cassville Republican / Weekly Citizen Democrat articles describe liquidation).
Source
newspapers

Newspaper Articles (5)

Article from The Los Angeles Times, April 29, 1924

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Article Text

MIDDLE WEST NEWS IN BRIEF [EXCLUSIVE DISPATCH] DES MOINES, April 28.—Mrs. Elizabeth Weston, 79 a resident of Des Moines for more than fifty-five years, died yesterday at her home here. Appointment of Robert L. Leach, superintendent of the State Banking Department, as receiver of the defunct Wiota Savings Bank, is asked in a petition filed in the Cass County District Court by Atty.-Gen. Gibson. The Wiota bank was closed after a quiet "run" had depleted the reserve fund. Mrs. Charles Smith of West Branch is slowly recovering from a peculiar accident. During a recent electrical storm the electric and telephone wires became crossed causing the phone to ring. Mrs. Smith attempted to answer and was knocked unconscious for some time. Word from Atlantic says Dist. Judge Whitmore has signed a decree granting judgment in favor of the Marne Savings Bank, a defunct institution, against its former president, John T. Clasen and his wife, Mrs. N. L. Clasen, for $6600 and $200 respectively. INDIANAPOLIS INDIANAPOLIS, April 28.—The population of Indianapolis by July 1 will have passed the 350,000 mark, reaching an estimated total of 350,425, according to the 1924 estimate of the Census Bureau. This is an increase of 7707 over the 1923 estimate and an increase of 36,231 over the official count of 1920. Mrs. Rose Lanam, wife of S. O. Lanam of Columbus, Ind., has filed cross complaint in Circuit Court here in her husband's divorce suit, alleging the plaintiff is worth $100,000, and demands $30,000 alimony. News of the award of a bronze Carnegie hero medal, with a monthly allowance of $30 for herself and her son 2 years old, came as a complete surprise to Mrs. Carrie Judy of Anderson yesterday. Her husband, George Franklin Judy, lost his life at Lawrenceville, Ill., in saving the life of a fellow-employee of the Indian Oil and Refining Company. KANSAS CITY KANSAS CITY, April 28.—Dr. Patrick Francis Lyons, 63 years of age, died in St. Joseph Hospital yesterday. He was a practicing physician here twenty-five years and retired five years ago on account of failing health. He leaves a widow, Mrs. Margaret Lyons. J. Carroll Walzer, 24 years of age, formerly cashier of the defunct Bank of Puxico, was arrested last night on an indictment of the Stoddard county grand jury charging embezzlement, grand larceny and receiving of deposits while the institution was insolvent. The bank's shortage is estimated at $400,000. Word from Topeka says labor's annual spring opening now is in full sway with a big demand for workers in all lines of industry, according to the weekly report of the labor division of the Kansas Industrial Court. The 946 men applying in the week at the seven free employment stations throughout the State constitute the largest number since last summer, and the demand for laborers, especially those not skilled, exceeds any week in the last four months. ST. LOUIS ST. LOUIS, April 28.—Friends of Joseph M. Ebeling, attorney and real estate dealer and formerly a member of the old City Council, have learned he was married on September 25 last in Germany to Mrs. Bertha Moerschel, widow of a wealthy brewer of Jefferson City, Mo., who died about six years ago. A City Dancing Commissioner, to maintain order and good morals in public dance halls, is provided for in an ordinance introduced in the Board of Aldermen. With it was submitted a petition signed by forty-four individuals, many of them prominent citizens, and the St. Louis Dancing Teachers' Association. LOUISVILLE LOUISVILLE, April 28.—Louisville increased its population 10,592 in the last year and now is 310,788, according to the new City Directory. Sale of the G. Lee Redmon Company, including the White Mills distillery and whisky made by the distillery in storage in the warehouse covering the block bounded by Eighteenth, Twentieth and Howard streets and Garland avenue, at a price reported to be $1250 a share, or a profit of $200,000 to Owsley Brown, last night was admitted to be pending. The will of the late John T. Botts of Mt. Sterling, who died ten days ago, was probated yesterday. The property consisted of 600 acres of blue grass land and other holdings and is valued at $100,000. One-third of the real estate and one-half of the personality was left to the widow, Mrs. Mary Botts. The balance is left to William Botts, son, but if he dies before reaching his majority the inheritance will go to the mother. OMAHA OMAHA, April 28.—The First National Bank of Schuyler, Neb., which was closed last week after a heavy run caused by untrue rumors regarding the bank's condition, will be reorganized and reopened soon under a State charter. Death of Bertram G. Goodhue, designer of the new State Capitol, who died suddenly after a heart attack in New York, is not expected to complicate completion of the building. Gov. Bryan said at Lincoln work on the structure has progressed sufficiently that Mr. Goodhue's ideas can be continued satisfactorily, it was stated. Peter E. Nelson, former president of the closed Thedford Bank, entered a plea of guilty to the charge of making a false statement of the condition of the bank to the State Department of Trade and Commerce and was sentenced to serve five years in the penitentiary. Major J. W. Cress, 87 years of age, Civil War veteran, died at his home following ill health of more than eight months. He was adjutant of Phil Kearney Post No. 2, G.A.R., and a resident of Omaha since 1886. Maj. Cress and Mrs. Cress heard Abraham Lincoln's famous address at Gettysburg. AKRON AKRON, April 28.—The will of the late George T. Allen, who died recently in Florida, bequeaths an estate estimated at $250,000. Aside from a small bequest to various relatives, the estate is left in trust for the two sons of the deceased, Don O. and Ben H. Allen, each of whom will receive their shares in three installments, the last to be paid when they reach 55 years of age. An unprecedented building boom in Akron's suburban cities is becoming more noticeable daily. And home building is leading the construction program. Cuyahoga Falls, in particular, and Kenmore and Barberton report the biggest home-building activity in many years. In Cuyahoga Falls nearly 100 homes, which will cost approximately $500,000, are under construction. City officials have signed a State lease for Summit Lake and have sent the contract back to Columbus for the signature of Gov. Donahey. The State property bordering the water is to be made into a park. The waters are to be cleaned and a municipal bathing beach will be created. MINNEAPOLIS MINNEAPOLIS, April 28.—John Birkholz, real estate dealer and banker of Grand Forks, N. D., and Minneapolis, left an estate of more than $150,000, with bequests of $5000 for the Sheltering Arms Orphanage, Minneapolis; $2500 for a summer outing fund for the poor in Minneapolis and $1000 each to the Minneapolis and Grand Forks Y.W.C.A., according to a petition for administration filed here in County Probate Court Mr. Birkholz died in Los Angeles April 15. Rev. John Resnick, 49 years of age, superintendent of the Zion Society for Israel, died at the Swedish Hospital here. Rev. Resnick was chairman of the board of deacons of Bethesda Lutheran Church. MILWAUKEE MILWAUKEE, April 28.—The Secretary of State's office has issued 295,635 automobile licenses and applications are being filed at the rate of 7000 to 8000 a day, according to Secretary of State Zimmerman. The State has collected so far this year a total of $4,612,168, as compared with $4,798,430 for the entire last year. Twenty-six head of cows and two horses perished in the fire which destroyed all the buildings on the Wallace Bray farm, two miles east of Elkhorn, with a loss of more than $10,000. Four horses were saved. The large barn, granary, tool shed and chicken house were burned. The fire started by the backfire of a gasoline engine. ST. PAUL ST. PAUL, April 28.—A total of twenty-seven deaths as a result of "black" smallpox were reported in the State since the early part of January, Dr. A. J. Chesley, executive secretary State Board of Health, announced. The most recent deaths were reported as follows: St. Louis county, 2; Carlton county, 2, and Aitken county 2. Although these deaths were reported there is no indication that the disease is spreading and the threatened epidemic is on the wane, Dr. Chesley said. Many residents at Albert Lea were startled last night when a large meteor fell north of the city. The meteor traveled low and despite the fact that it was still daylight the ball of fire illuminated the country for miles. The fire ball, which left a trail of sparks and smoke seemed to be about the size of a large tobacco pail. It passed from the south to north.


Article from The Webb City Sentinel, May 10, 1924

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Bloomfield, Mo., May 10.—W. F. Walser, president of the defunct Bank of Puxico, which failed with loss to depositors of more than $400,000, surrendered himself to the authorities here today to face eight indictments charging him with accepting deposits when he knew the bank to be insolvent and with embezzlement in connection with the disappearance of bank funds. Walser was released on a $28,500 bond. His son, G. Walser, is already out on bond.


Article from Cassville Republican, February 5, 1925

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COMPENSATION WORKMEN'S MEASURE DUCED STATE HOUSE AND SENATE NOT TO APPLY TO LABOR ON FARMS Allow sabled Workers Pay Not Exceed $20 Weekly Sponsored Senator to farm commission sion circuit courts der the of Nineteen the Senute In House. day. the total number offered the House being 188 Missouri's twentieth annual Farmers ended banquet given by the Missouri College of Agriculture honor of the farmers members of Missouri General Columbia heard Governor Sam Baker The almost his time of based upon every citizen doing his part make community. his state country better live Once he mentioned the shortage of funds available for the of the than year the next biennial that more money and be obtained by foreing persons had concealed their property from tax assessors in the were not doing their part support the pay their taxes that everyone in the state knew that the laws not being enforced. and that forcement was impossible unless dividual citizens came the aid county and state officials Jefferson suggestion Judge of the of the circuit court Louis, At Otto the future supply proper form for instruction in the trial of major criminal cases when may his letter to the AttorneyGeneral. Judge Frey said that. recently transferred from criminal court. interested the forms that had had the time opportunity touch rulings the several Prison Board the circuit Bank charged appointed cial deputy finance liquidate closed tropolls Bank of Nellie Galbraith odl. died the home her parents. southeast of here. severe burns suffered her dress brushed against red hot Wood. northwest Columbia. the money the order drawer was taken but drawer Judge W. Bas. ing shoulder and His makes his recovery doubtful Poplar Kinder special deputy bank in charge affairs of defunet Bank of Puxico. stated that only one per be made to depositors of that Institution. which at the time closed. more than year ago, had deposits in excess of $100,000 Musselman ranch of almost acres. In Counhas been by Perry Kansas City, Charles Dacy of Joplin their associates, for approximately $25,000. and will be converted into resort.


Article from Daily American Republic, April 29, 1925

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JURY'S VERDIC IN $5,000 SUIT Fact Effort Had Been Made To Draw Funds from Failing Bank Scores Victory for the Defendant A circuit court jury at 2:20 o'clock this afternoon a verdict fail voring the Bank of Poplar Bluff in the $5,000 sult instituted against a by Mrs. Ethel Reichert, local worn an, who moved here something over" Puxico. The verdict favored the defendant to 3. the statutes permitting such The deliberation of the jury was but fifteen minutes. The "point on which the verdict was given seemed to be that Matt admitted on the witness stand that the had twice thade an effort to get the money for his wife at the bank but had (ailed to do so for obvious transation thirt attempted to make the Bank of Poplar Bluff the agency through which the money could be secured and transferred. Mrs. Richert owned five thousand dollar time certificates of deposit issued by the Bank of Puxico that she had owned for several years. It will be remembered that the Bank of Puxico made bad failure on the 24th of December, 1928. Thirteen days before the bank suspended (Continued on Page Four.)


Article from Weekly Citizen Democrat, April 30, 1925

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JURY'S VERDICT FOR P. B. BANK IN $5,000 Fact That Had Been Made To Draw Funds from Failing Bank Scores Victory for the Defendent circuit court o'clock returned verdict favoring the Bank Poplar Bluff in the $5,000 against by Mrs. Ethel local woman. who moved here something over ayear ago from 'uxico. The verdict favored the defendant to the permitting such verdict rendered in civil aetion, The deliberation of the jury but fifteen minutes. The point which the verdict given to that Matt was Reichert, husband the plaintiff admitted the witness stand that be had an effort to get money his wife at the bank but had failed to do so for obvious This was prior to the reasons, transaction attempted to make the Poplar Bluff the agency through which the money could be Mrs. Richert owned five and dollar time of Issued by the Bank of Puxico posit that she for rimembered that the Bank Puxice failure on the 24th of 1923. Thirteen days before the bank suspended Mrs. Reichert drew draft on the Bank of Púxico in favor the Bank of Poplar Bluff for $5,000 for the purpose transferring her money from Puxico to the local bank This draft forwarded through the mails to Fuxico collection After some silght delay Puxico draft the Citizens Company Gorin. Missouri, for and mailed the Bank of Poplar Bluff in payment of Mrs. draft draft on Gor on Sunday 1923 and forwarded by the Bank of Poplar Bluff through its St Louis collection the same day. It by on December that the draft on Corin was dishon and for non On the days fore the bank Puxico finally closed its doors on the Bank Poplar Bluff few demands by telephone on the Bank of Puxico for payment evidence showed Bank Puxico promised but failed Mrs. Reichert claimed that the Bank Poplar Bluff should have jected the draft the Titizen's Trust Company of Gorin and insist Instead payment currency coin, and for doing sued for the amount the face her draft the Bank of Puxico $5,000 The of Poplar Bluff that made repeated demands both before and provisionally accepted draft on the Bank Gorin. that did all that required or possible do and and undertook show that the Bank Puxico was for sometime before it ceased operations on December 24. 1923. hopelemsly insol vent John Gloriod. who has charge of the liquidation of the fairs ofthe Bank of Puxico for the finance commissioner testified witness for the Bank of Poplar Bluff that the depositors the Bank would not be likely to more than ten cents the their claims and of the a total loss on