Farmers Trust Company (King City, MO)

Episode Information

Episode UID
80168271529
Episode Type
Run → Suspension → Closure
Bank Type
trust
Bank ID
8016827 routing
Routing Number
80-1682
Start Date
May 1, 1927*
Location
King City, Missouri (40.051, -94.524)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e5dbfcf9735b975c

Response Measures

None

Description

Bank closed by its directors after president disappeared amid a prior slow run and concerns about a large loan.

Events (5)
1. May 1, 1927* Run
Cause
Bank Specific Adverse Info
Cause Details
Slow run developed after publicity about large indebtedness of a local borrower (Ernest Hammack) and street talk about bank losses
Measures
Directors closed the bank to avoid heavy withdrawals; wired state finance commissioner
Newspaper Excerpt
Officials said today there has been a slow run on the bank for several weeks
Source
newspapers
2. May 31, 1927 Suspension
Cause Details
Board of directors ordered the institution closed after president Jacob Levy disappeared and amid prior withdrawals
Newspaper Excerpt
The trust company was closed after Levy left because officials feared... heavy withdrawals would result
Source
newspapers
3. June 1, 1927* Receivership
Newspaper Excerpt
The directors ... wired the state finance commissioner come and take charge.
Source
newspapers
4. December 8, 1927 Other
Newspaper Excerpt
Farmers Trust Company, Closed When Its President Disappeared Last May, Has Enough for Dividend of 40 Per Cent.
Source
newspapers
5. December 11, 1930 Other
Newspaper Excerpt
The final dividend checks mailed to the depositors of The Trust Company... which makes in all 91 per cent paid the depositors
Source
newspapers

Newspaper Articles (17)
1. June 1, 1927 Jefferson City Post-Tribune Jefferson City, MO
Article from Jefferson City Post-Tribune, June 1, 1927

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Article Text

NO TRACE OF KING CITY BANK HEAD WHO DISAPPEARED Jacob Levy of Farmers Trust Co., Closed Yesterday, Said He Was Going On Vacation. ST. JOSEPH. Mo., June 1.-(AP) -No trace has been found of Jacob Levy. president of the Farmers Trust company at King City, Mo., who left his home Saturday, causing indirectly the closing of the institution yesterday. Officials said today there has been a slow run on the bank for several weeks and that Levy worried much over it. He left a note to another offier of the bank saying he was going on a vacation and did not know when he would return. He took nothing from the bank except a revolver, but he did dispose of other holdings he had in King City. The trust company was closed after Levy left because officials feared. in the face of the previous run, heavy withdrawals would result if it were known the bank president had gone. Levy is sixty years old and a widower. His bank colleagues believe he left town rather than face what he considered the disgrace of being president of a bank that fail-

2. June 1, 1927 The Chillicothe Constitution-Tribune Chillicothe, MO
Article from The Chillicothe Constitution-Tribune, June 1, 1927

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Article Text

Find No Trace of Levy, King City Bank (By THE ASSOCIATED St. Joseph, June trace has been found of Jacob Levy, dent of the Farmers Trust Company King City, Mo., who left his home Saturday, causing indirectly the closing of the institution yesterday. Officials said today there has been slow run the bank for several weeks and that worried much over it. He left to another official of the bank on vacation aid

3. June 1, 1927 Jefferson City Tribune-Post Jefferson City, MO
Article from Jefferson City Tribune-Post, June 1, 1927

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Article Text

TRACE OF KING CITY BANK HEAD WHO DISAPPEARED Jacob Levy of Farmers Trust Co., Closed Yesterday, Said He Was Going On Vacation. ST. JOSEPH, Mo., June 1.-(AP) No trace has been found of Jacob Levy, president of the Farmers Trust company at King City, Mo., who left his home Saturday, causing Indirectly the closing of the institution yesterday. Officials said today there has been a slow run on the bank for several weeks and that Levy worried much over it. He left a note to another offier of the bank saying he was going on a vacation and did not know when he would return. He took nothing from the bank except a revolver, but he did dispose of other holdings he had in King City. The trust company was closed nfter Levy left because officials feared. in the face of the previous run, heavy withdrawals would result if it were known the bank president had gone. Levy is sixty years old and n widower. His bank colleagues believe he reft town rather than face what he considered the disgrace of being president of a bank that failed.

4. June 1, 1927 Jefferson City Tribune-Post Jefferson City, MO
Article from Jefferson City Tribune-Post, June 1, 1927

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Article Text

TRACE OF KING CITY BANK HEAD WHO DISAPPEARED Jacob Levy of Farmers Trust Co., Closed Yesterday, Said He Was Going On Vacation. ST. JOSEPH, Mo., June 1.-(AP) No trace has been found of Jacob Levy, president of the Farmers Trust company at King City, Mo., who left his home Saturday, causing Indirectly the closing of the institution yesterday. Officials said today there has been a slow run on the bank for several weeks and that Levy worried much over it. He left a note to another offier of the bank saying he was going on a vacation and did not know when he would return. He took nothing from the bank except a revolver, but he did dispose of other holdings he had in King City. The trust company was closed nfter Levy left because officials feared. in the face of the previous run, heavy withdrawals would result if it were known the bank president had gone. Levy is sixty years old and n widower. His bank colleagues believe he reft town rather than face what he considered the disgrace of being president of a bank that failed.

5. June 1, 1927 Springfield Leader and Press Springfield, MO
Article from Springfield Leader and Press, June 1, 1927

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Article Text

CLOSED BANK HEAD MISSING Jacob Levy, President of King City Institution, Disappears. -No trace has been found of Jacob Levy, president of the Farmers' Trust company at King City, Mo., who left his home causing, indirectly. the closing of the institution yesterday. Officials said today there has been slow run on the bank for several weeks and that Levy worried much over it. He left note to another officer of the bank saying he was going on vacation and did not know he would return. He took nothing from the bank except revolver, but he did dispose of other holdings he had in King City. The trust company was closed after Levy left because officials feared. the face of the previous run. heavy withdrawals woul result If It were known that the bank president were Levy is 60 years old and widower. His bank colleagues believe he left town rather than face, what he considered the disgrace of being president of bank that failed. Wall artistic. Morgan Wicks. 425 St. Louis St. "We Paint Perfectly "-Adv. Swift's Premium Lard: four pounds, 85c. Comstock's, phone

6. June 1, 1927 The Parsons Daily Sun Parsons, KS
Article from The Parsons Daily Sun, June 1, 1927

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Article Text

NO TRACE OF BANKER. -No trace has been found of Jacob Levy vice president of the Farmers Trust Company. at King City. Mo., who left his home Saturday, indirectly causing the closing of the institution yesterday Officials said today there

7. June 1, 1927 The Sedalia Democrat Sedalia, MO
Article from The Sedalia Democrat, June 1, 1927

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Article Text

FIND NO TRACE OF MISSING BANKER Associated JOSEPH, June trace been found Jacob Levy, president Farmers Trust Company at King City, Mo., his home Saturday, indirectly the closing the in yesterday. Officials said there has been bank Levy worried much note another officer the bank going did when would He took nothing from the bank except volver, did dispose other holdings King City The trust closed Levy because officials in the face withdrawals would known the bank president had Levy years and His bank believe town than face the being president of bank that failed.

8. June 1, 1927 The Daily News and Intelligencer Mexico, MO
Article from The Daily News and Intelligencer, June 1, 1927

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Article Text

NO TRACE OF BANK PRESIDENT By The Associated Press ST. JOSEPH, Mo., June 1.-No trace has been found of Jacob Levy, president of the Farmers Trust Company at King City, who left his home Saturday causing indirectly the closing of the institution. Officials said today there had been a slow run on the bank that caused Levy much worry.

9. June 1, 1927 Bethany Republican-Clipper Bethany, MO
Article from Bethany Republican-Clipper, June 1, 1927

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Article Text

KING CITY BANK CLOSED YESTERDAY The Farmers' Trust company of King during recent failed its doors yesterday it was learned that forestated that the president was out King City the time, that left Saturday, leaving note for the cashier with the His King and there no indicahow Two other banks King City are ported to be in and either them, said has both to case The annual Bluegrass which for carried out planned and will big success as was said.

10. June 1, 1927 The Daily Republican Poplar Bluff, MO
Article from The Daily Republican, June 1, 1927

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Article Text

TRACE FOUND OF BANK OFFICIAL By Associated Press. St. Joseph, Mo., June 1.-No trace has been found of Jacob Levy, president of the Farmers Trust Company at King City, Mo., who left his home Sunday, causing indirectly the closing of the institution yesterday. Officials said today there has been a slow run on the bank for several weeks and that Levy worried much over it. He left a note to another officer of the bank saying he was going on a vacation and did not know when he would return. He took nothing from the bank except a revolver, but he did dispose of other buildings he had in King City. The trust company was closed after Levy left because officials feared, in the face of the previous run, heavy withdrawals would result if it were known the bank president had gone. Levy is 60 years old and a widower. His bank colleagues believe he left town rather than face what he considered the disgrace of being president of a bank that failed.

11. June 2, 1927 The Albany Capital Albany, MO
Article from The Albany Capital, June 2, 1927

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City Bank Closed Doors Tuesday The Farmers' Trust Company King City closed its doors Tuesday morning upon order of board directors. The action lowed on bank for the past weeks, following disappearance Ernest Hammack. automobile dealer. owed the bank considerable money. Jacob Levy. of the left King City Saturday, leaving note which said that going but failsay where. The people of community have unlimited fidence in Levy, was sound business man, and feel that there nothing wrong with the bank books. The directors and other officers of the bank Monday and that would be best close the doors in order protect the depositors and then wired the state finance commissioner come and take charge. The other banks in King very sound and the deposits Tuesday more than equalthe The Club that city met Tuesday morning and raised more than enough money the plans for Blue Grass being held and funds tied up with the closing. This bank was the depository for the county's funds which secured by personal bond signed King City citizens. that all can the losses must before they will begin to lose.

12. June 2, 1927 Poplar Bluff Republican Poplar Bluff, MO
Article from Poplar Bluff Republican, June 2, 1927

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TRACE FOUND OF BANK OFFICIAL St Joseph, Mo., June trace has been found of Jacob Levy, president of the Farmers Trust Company at King City, Mo., who left his home Sunday, causing indirectly the closing of the institution yesterday. Officials today there has been a slow run the bank for several weeks and that Levy worried much over it. He left a note to another officer of the bank saying he was going on a vacation and did not know when he would return. He took nothing from the bank except a revolver. but he did dispose of other buildings he had in King City. The trust company was closed after Levy left because officials feared, in the face of the previous run, heavy withdrawals would result if it were known the bank president had gone. Levy is 60 years old and a widower His bank colleagues believe he left rather than face what he sidered the disgrace of being president of a bank that failed. Undergoes Operation. Robert Barks, small son of Mr. and Mrs. Floyd Barks, of Greenville, underwent a major operation at the Brandon hospital early today. He is reported as getting along Visit In St. Louis. Mr. and Mrs. G. A. Moser of 451 North Main street left today for St. where they will spend Sunday friends and relMonday visiting

13. June 7, 1927 St. Joseph Gazette St. Joseph, MO
Article from St. Joseph Gazette, June 7, 1927

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BANK DEFENDS HAMMACK Closed Farmers Trust of King City Denies Missing Garage Man Is Bankrupt Dental that Ernest missing King City, Mo., garage man, bankrupt was filed in federal court here Monday by the Farmers Trust company of King City, which closed its doors May shortly after Jacob Levy, president, also disThe of Hammack who was in the comsaid to have been partly sponsible for the closing of the stitution. Rumors that he owed the bank when he disap. peared months ago is believed caused on the bank which resulted closing by the directors. Hammack actual ly owed the bank less than $10,000 The petition in bankruptcy against Hammack was filed May by the Motor Parts and Bearing company, the Nebraska and the Stowe Supply pany The dental will require that the case tried before jury The case will be tried at the September term of court. No trace of either Hammack Levy has been found.

14. June 15, 1927 St. Joseph Gazette St. Joseph, MO
Article from St. Joseph Gazette, June 15, 1927

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with bullet holes, was found near Chillicothe, and a hat he was found by the roadside near New These sinister clews, however, were shortly afterward discounted when two road workers told au. thorities they were with Hix when he abandoned the motor car at the place it was found. and one of them declared he and Hix walked to Chillicothe, where Hix bought railroad ticket to Moberly. The ticket agent at the station. It was said. substantiated his story by identifying a picture of Hix RS that of man who bought ticket to Moberly on the day stated No trace has ever been found of Burgin. He said to have talked of going South where he has friend in the fruit business, and authorities believe he has gone The the King City men were linked together by chain that eventually forced the Farmers Trust company of which Levy was president and Hammack a large stockholder to Shortly aWer Hammack left he was reported to have the bank $30,000, and this caused slow run on the bank On the night of May 28. Levy left a note in the bank stating that he was going on vaca. tion and did not know when he would return. Directors -plosed the bank two days later Hammack actually owed the bank only $10,000. it was said and had not the run developed from street talk, the institution could have stood the loss

15. October 20, 1927 The Albany Capital Albany, MO
Article from The Albany Capital, October 20, 1927

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SOILS AND CROPS MEETING Showengerdt, specialfrom the Missouri College of will be in Gentry Nov. 9th. will held in the court that date o'clock. All Clover and Prosperity deleare expected to be present plan solls and crops profor next year and to report progress made this year the the growing of Mr. Showengerdt and crop improveprogram. MORE SUITS Attorney Ernst brought more suits collect notes for closed Farmers' Trust Comof King City this week. The $50 against Robert the second for $300 Morgan. The suits come up trial the Dec. the circuit court. INSIDE STAIRWAY leading from Drug store Hardin being built this PIES.

16. December 8, 1927 St. Joseph News-Press St. Joseph, MO
Article from St. Joseph News-Press, December 8, 1927

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KING CITY BANK TO MAKE ITS FIRST DISTRIBUTION. Farmers Trust Company, Closed When Its President Disappeared Last May, Has Enough for Divid dends of 40 Per Cent. Special The attorney in the liquidation of the era Trust Company of King City, Mo., has filed petition In the circuit clerk's office here for C. E. special dep. uty finance commissioner, for an order the to pay to the depositors the Institution. The shows that Mr. Potter has collected with expense count of liquidating to date of Mr. Ernst thinks that 40 per cent or more will be ordered paid to the by the at the December and also gives It as his opinion all will be paid The Trust Company closed its doors May when its ously had been run on the trust company before he left. Mr. Potter was of the trust at the closed. Mr. Levy is now charge cigar store.

17. December 11, 1930 The Dekalb County Record-Herald Maysville, MO
Article from The Dekalb County Record-Herald, December 11, 1930

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Farmers Trust Co. Final Dividend Pays Ebersole, Deputy Finance Commissioner, Malls Final Checks King City Chronicle. The final dividend checks mailed to the depositors of The Trust Company, Monday, Ebersole, in charge of the final settlement of the bank. The dend was for and which makes in all 91 per cent paid the depositors, which left nothing for the stockholdThese checks coming at the time they did have been quite bit of to many, of course there are many depositors who think that the bank should have paid 100 cents the dollar, and many reasons are The bank failed to open the day lowing Decoration Day, in 1927, and since that time been in order. The bank should have closed condition had anything to do with its closing, but banks the size King City enough and quite likely will be many moons before another started here. Many banks that have been forced close the state have paid out nothing like the Farmers pany has, and although larger ment expected, there nothing do about it, but be satisfied.