Farmers State Bank (Garnett, KS)

Episode Information

Episode UID
83137271492
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
8313727 routing
Routing Number
83-1372
Start Date
April 1, 1924
Location
Garnett, Kansas (38.281, -95.242)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
fd034227b12b7cff

Response Measures

None

Description

A temporary 1924 closing followed by a 1925 receivership note indicates the bank did not resume normal operations.

Events (3)

1. April 1, 1924 Run
Cause
Rumor Or Misinformation
Cause Details
A reported rumor prompted a quiet run of depositors over several days.
Measures
State examiners checked accounts; bank temporarily closed pending investigation.
Newspaper Excerpt
temporary closing ... pending investigation of a rumor which was said to have caused a quiet run on the bank for several days.
Source
newspapers
2. April 1, 1924 Suspension
Cause
Government Action
Cause Details
State bank commissioner ordered temporary closing pending investigation of the run and rumor.
Newspaper Excerpt
Temporary closing of the Farmers State bank of Garnett, was announced today from the offices of the state bank commissioner pending investigation
Source
newspapers
3. April 3, 1925 Receivership
Newspaper Excerpt
Swonger Resigns Bank Receiverships. ... The condition of the Farmers State Bank of this city ... Unpaid deposits are about $17,500, and there is about $10,000 cash in the hands of the receiver.
Source
newspapers

Newspaper Articles (5)

Article from The Emporia Gazette, April 1, 1924

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Article Text

Temporarily Close Bank at Garnett Bank Commissioner Will Investigate Rumor Which Caused Run on Institution. Topeka, April 1.—Temporary closing of the Farmers State bank of Garnett, was announced today from the offices of the state bank commissioner pending investigation of a rumor which was said to have caused a "quiet run on the bank for several days." Examiners are now checking the accounts of the bank, which has a capital of $25,000, deposits of about $88,000 and loans amounting to around $93,000. C. E. Bean, president, acts as cashier. Mr. and Mrs. Byron Goodwin, 1414 Center, are the parents of a son, born at the Newman Memorial County hospital this morning. Renew your magazines with W. H. Keller. Phone 1144 green. Be photographed by Loomis on your birthday.—Adv.


Article from The Iola Register, April 1, 1924

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Article Text

CLOSE GARNETT BANK. But Suspension of Institution May Be Only Temporary. (By the Associated Press.) Topeka, Kan., April 1.—Temporary closing of the Farmers State Bank of Garnett, Kans., was announced today from the offices of the state bank commissioner pending investigation of a rumor which was said to have caused a "quiet run on the bank for several days." Examiners are now checking up the accounts of the bank, which has a capital of $25,000 deposits of about $88,000 and loans amounting to around $93,000. C. E. Bean, president, acts as cashier.


Article from The Wichita Eagle, April 2, 1924

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Article Text

while the slim girl stood over him with her pistols. Dozens of persons passed the spot while the bandits were on their unsuccessful mission. Had any stepped near the curb, they could have seen the trussed-up driver, huddled on the car floor. No one did however, and the car awaited the return of the hard-pressed pair. Insistent instructions were issued tonight to the baffled plain clothes men assigned to the search, to redouble their efforts. Again they were told to "get them; shoot if you have to, but get them." GARNETT STATE BANK CLOSED TOPEKA, April 1. — Temporary closing of the Farmers' State bank of Garnett, Kas., was announced today from the offices of the state bank commissioner pending investigation of a rumor which was said to have caused a "quiet run on the bank for several days." Examiners are now checking the accounts of the bank, which has a capital of $25,000, deposits of about $88,000 and loans amounting to around $93,000. C. E. Bean, president, acts as cashier. OATS BEGINNING TO GROW KAW CITY, OKLA., April 1. — Farmers in this section report that oats is beginning to come up and that the prospects for a good crop are rosy, due to the recent snows and rains.


Article from Fort Scott Tribune and The Fort Scott Monitor, April 3, 1924

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Article Text

GARNETT BANK CLOSED. Farmers State Experienced Quiet Run and is Closed Pending State Examination. Topeka, Kans., April 1.—Temporary closing of the Farmers' State Bank of Garnett, Kansas, was announced today from the offices of the state bank commissioner pending investigation of a rumor that was said to have caused a "quiet run" on the bank for several days. Examiners are now checking the accounts of the bank, which has a capital of $25,000; deposits of about $88,000 and loans amounting to around $93,000. G. E. Bean, president, acts as cashier. Synthetic cocaine is the latest in Germany, but they cant make any synthetic reparation payments.


Article from The Bronson Pilot, April 3, 1925

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Article Text

Western Spirit (Paola): B. J. Sheridan, former editor and father of the present editor of this paper, has been confined to his bed because of the injuries received in his encounter with Robert Coughlin last Saturday evening. He hopes to be recovered sufficiently at an early date, to give a plain statement of the occurrence, which he prefers to do himself, otherwise real causes, as well as the real facts would appear in this issue. The truth will satisfy all fair-minded persons. Bronson is coming right along and has a lady candidate for mayor at the coming spring election. There are eleven men also who want the honor and named as follows by the Pilot: William Noble, Ed Shively, D. E. Watson, D. C. Crosby, George Weatherbie, Lee Webster, Judge Webber, John Bowers, Robert Lent, Uncle Billy Bowers, C. E. Potter and Mrs. Mattie A. Webster as actively in the campaign for mayor—and some of these, we understand deny it. —The Uniontown Cicerone. Tom Johnson, farmer and auctioneer of near Mapleton, lost a large fine barn Wednesday morning of last week, when it was struck by lightning and burned. The barn and contents must have been worth at least $4,000, which was partly covered by insurance. —Blue Mound Sun. A young man at about the "wise age," from a neighboring town drove into Parker last week with a 1924 license on his car. Sheriff Engle was in town and asked him where his 1925 license was, and the youngster proceeded to tell "Doc" that it was none of his business where his license was and if "Doc" didn't like it he could go where snowballs are not the principal industry. Sheriff Engle listened until the wise young man had calmed down considerably and took him before police judge Carrico where the W. Y. M. was forced to contribute $5 to the city mess fund and before leaving town the W. Y. M. dug out a 1925 license, which he had in his car, and put it on, returning home a sadder but wiser smart aleck. —Parker Message. Swonger Resigns Bank Receiverships. Garnett Review: While Bank Commissioner Bone is very much pleased with J. F. Swonger's management of the three banks he has the receivership of, Mr. Swonger is not pleased at all with the way Mr. Bone runs the State Bank Commissioner's office. Mr. Bone ordered Swonger to transfer all the money of the three banks, in his possession as receiver from local banks to Topeka. Mr. Swonger therefore tendered his resignation as receiver of the Farmers Bank, Garnet, and the Moran and Vernon banks, to take effect as soon as he could be checked out. It is apparent that the State Bank Commissioner intends to assemble all the funds of the fifty-odd banks in Kansas, under receivership, in banks of his own choosing, which will pay 2 per cent on the deposits. The rate was reduced from 3 to 2 per cent by the late lamented legislature. It is possible these favored banks may be able to loan most of this money at 8 per cent. The condition of the Farmers State Bank of this city, in which Garnett and Anderson county people are interested, is such that the depositors could be paid their last 25 per cent dividend, and the business closed up in thirty days. Unpaid deposits are about $17,500, and there is about $10,000 cash in the hands of the receiver. A local bank has offered about $8,500 for the unpaid notes of the bank. The furniture and fixtures of the bank are a valuable asset, and easily sold for cash. Altogether, more than $20,000 could be realized at once if the State Bank Commissioner would consent and the receivership ended. A small fund would remain for the stockholders. If the business is taken to Topeka, there is no telling how long the receivership will be prolonged, or when depositors will get their money, and additional costs will probably eat up the small fund which might have gone to stockholders. Mrs. Celissa Graves expects to leave today to make her home with her son, Frank, at his farm home five miles west of Ft. Scott on the concrete.