10287. Bank of Kansas City (Kansas City, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 14, 1893
Location
Kansas City, Missouri (39.100, -94.579)

Metadata

Model
gpt-5-mini
Short Digest
8a1eff64

Response Measures

None

Description

Contemporary articles (July 14–19, 1893) report the Bank of Kansas City suspended/failed and its affairs were placed in the hands of the Comptroller of the Currency. The suspension precipitated runs on many other Kansas City banks. No clear evidence in the provided articles that the Bank of Kansas City reopened; therefore classified as suspension leading to closure/receivership (government action).

Events (2)

1. July 14, 1893 Suspension
Cause
Government Action
Cause Details
Bank suspended and placed in the hands of the Comptroller of the Currency; authorities (Comptroller/Bank Examiner) took charge following failure/suspension under financial pressure; described as 'placed its affairs in the hands of the comptroller.'
Newspaper Excerpt
The Bank of Kansas City (Chick's bank) suspended yesterday, placing its affairs in the hands of the comptroller.
Source
newspapers
2. July 15, 1893 Other
Newspaper Excerpt
The failure of the Bank of Kansas City yesterday precipitated runs on three-fourths of the large banks in the city to-day, and Delaware and Ninth streets, the bank streets, were thronged as they have not been in years.
Source
newspapers

Newspaper Articles (12)

Article from Richmond Dispatch, July 16, 1893

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Kansas City Bank Rans. [By telegraph to the Dispatch.] KANSAS CITY, Mo., July 15.--The - failure of the Bank of Kansas City yesterday precipitated runs on three fourths of the large banks in the city to-day, and Delaware and Ninth streets, the bank streets. were thronged as they have not been in years. Crowds were on every corner and before and around every large bank. At 10 o'clock there were two long double rows of depositors in the Metropolitan and Missouri national banks. The New York Life Building, in which they are located, was thronged. The Metropolitan had two paying-teller at work and the Missouri National had three. All the banks paid out money fast. but the greatest excitement was about the Bank of Commerce. the two named just above. and the First National. The Bank of Commerce had three stalwart policemen before the door. and none except those who had business with the bank were allowed to enter. There had been rumors about the bank. which has a paid-up capital of $2,000,000. for some time and last night the stockholders, realizing that the bank was in danger, owing to the excitement. signed a pledge passing their estates into the bank's assets. The sum total was about $4,000,000. At noon confidence had been in a large measure restored and all the runs were stopped except the one on the Missouri National, which continued slowly. Unless some bank fails the crisis for the imme. diate present 18 passed.


Article from The Times, July 16, 1893

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RUN ON KANSAS CITY BANKS. The Failure of One Institution Precipitates a General Storm-Bank Failures. KANSAS CITY, MO., July 15.-The failure of the Bank of Kansas City yesterday précipitated runs on three-fourths of the large banks in the city to-day, and Delaware and Ninth streets, the bank streets, were thronged as they have not been In years. Crowds were on every corner and before and around every large bank. At 10 o'clock there were two long double rows of depositors in the Metropolitan and Missouri National Banks. The New York Life building, In which they are located, was thronged. The Metropolitan had two paying tellers at work and the Missouri National had three. All the banks paid out money fast, but the greatest excitement was about the Bank of Commerce, the two named just above, and the First National. The Bank of Commerce had three stalwart policemen before the door, and none except those who had business with the bank were allowed to enter. There had been rumors about the bank, which has a paid-up capital of $2,000,000. for some time, and last night the stockholders, realizing that the institution was in danger, owing to the excitement, signed a pledge passing their estates into the bank's assets. The sum total was about $4,000,000. About noon confidence had been in a large measure restored, and the runs were stopped. except on the Missouri National, which continued slowly. Unless some bank falls the crisis for the Immediate present is passed. STARKVILLE, MISS., July 15.-The First National Bank closed its doors yesterday, as a result of the financial stringency. It is believed that depositors will be paid in full. The bank has a paid up capital of $50,000. CARMI, ILL., July 15.-The old banking-house of Hay & Webb made a general assignment yesterday. The assets are $216,267. and liabilities $180,000. Hay & Webb have been In business for thirtyfive years. The stringency of the money market is the chief cause of the failure. KANSAS CITY, MO., July 15.-The Northrup Bank, of Kansas City, Kansas, of which J. S. Chick, of the National Bank of Kansas City, which failed yesterday, was also president, closed its doors this morning. Bank Examiner C. W. Galbreath took charge of the suspended Kansas City National Bank this morning. There was a run on the National Bank of Commerce as soon as that concern opened for business this morning. In the statement made yesterday the condition of the bank was shown to be good, and the officials assert that they will be able to stand a long run, which, however, they think will not be necessary. But little excitement prevails, and it is thought the bank will pull through all right. as it ranks with the strongest in the city.


Article from The Morning News, July 16, 1893

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RUNS ON KANSAS CITY BANKS. All the Institutions Meet the Crisis Without a Crash. Kansas City, Mo., July 15.-The failure of the Bank of Kansas City yesterday precipitated runs on three-fourths of the largest banks in the city to-day, and Delaware and Ninth streets. the bank streets, were thronged as they have not been in years. Crowds were on every corner, and before and around every large bank. At 10 o'clock there were two long double rows of dépositors in the Metropolitan and Missouri National banks. The New York Life building, in which they are located, was thronged. The Metropolitan had two paying tellers at work, and the Missouri National had three. All the banks paid out money fast, but the greatest excitement was about the Bank of Commerce, the two named just above, and the First National. The Bank of Commerce had three stalwart policemen before its door, and none except those who had business with the bank were allowed to enter. There had been rumors about the bank, which has a paid up capital of $2,000,000, for some time. and last night the stockholders. realizing that the bank was in danger, owing to the excitement, signed a pledge passing their estates into the bank's assets. The sum total was about $4,000,000. At noon confidence had been in a large measure restored and the runs were stopped, except the one on the Missouri National, which continued slowly. Unless some bank fails the crisis for the immediate present is passed.


Article from Wheeling Sunday Register, July 16, 1893

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AND from YORK. New dispatch that Mich., the of the sheriffs and railway Chicago Adolph as New the acts seen office af and the ot! er creditors brothers who sy indicate, not was offer of one of the for the He would to give the deYork attorney o-day the failure general other at his expl lana tion assets. treater The than in said, harder liabilities and was strain he firms same is iron and the Other local readlines of business to meet trade granted Mr statement. had was senting truth the of that this the syndicate to 25 per ly the ger knew of the and mines he believed altoreduced Schlesin the the usual output amount be shut down from cent. the of wines would for a time. A special now gether at the least O., July The Schlesinger CLEVELA Mich., says to represent The con- procern single the condicate, Negaunee. supposed capital, is in trouble. iron ore world, year. of German was the larges mining Property here, at "attached and ducer in half tons mines, last has be close Railroad second. at the instance Buffalo of the crdditors a a large sum It is labor. yet the Company, The syndiconpogsible with local also owes to obtain Ferdinana for information as Wis. July shown 15 the of MILWAUKE was to-day fact that some and Mar his ranges, Schlesinger announce cing in the the attached by could the meant. iron patch properties, had been He said that he "The a indicate, the the Northderstand road. what was he said, way to "is of of in moved Schlesinger not Nort Syndhestern $20,000. rail That com course meet debtor extent of to perhaps our ore have and been portion run up. pany way has freight had bills been made was to be granted what this while time and cannot take see this of them, the remainder the company to to me, as on has induced complete everything was immed right will not and tion. It is that will settled our BYI had upposed This matter inconvenience ately in the least. are accord what known dicate The attachment against which is 10 Negaunee, of ty cated verdicate. near own ing to as Mr. the Buffalo which is the proper- and not only Schleisingers but are mine, in large is control The the amount Buffalo of valued in the Michigan, millions which of dollars. 15. The North rup of the Chich at many CITY, Mo City, July Cansas, of of Kanvesterday KANSAB Bank of Kansas rational Bank was al30 morning, sas J.S City which closed failed its doors Galbreath, this took this There President Examiner ended G W Kansas run City on the Commerce this charge Bank of the sust was a quiet as SOOD that morning a concern statement to in be morning National opened Bank of for business made vesterday good the will they assert long bank In was and shown the officials run, which how wever, The think 055, on cash be condition able tostand will a not be hand necessary $1,141,055, more showing deposits they statement state shows of $2,977,377, by excite- law. capital it with than 25 cent is $2,000 000.000 is thought the banks of ment The and all right. Commerce will pull directors through of the Bank the financial carefully sitheld The a meeting to consider After very of the bank, an yeareday. the condition te signed nation examining into of the directorate pledging depositors. their enthe member individo of who agreement the the Board him for member of that made liable There not sign 8 the paper of deposits held directorate hesitated for the to entire great amount was their represents by the bank, The $2,000,000. its stab of volunplaced combined Banking Company of State Com- J. of The Northrup itself in charge The fact National that Chick, which suspended a on run tarily missioner President reidenthal of the is also be Kansas City, of Northrup. morning caused While excep- the tionally President latter bank this bank seems the to bank meet- did pardize o'clock ing condition the good, of the the officers their of assets closed by the of The of not the run, care to jeopa and at bank ten has $500,000. a capital It be is bank doors. with a surplus ositors will ultimately bank is not from believed $100,000, the full deposit The Northrup suffering from the the failure paid the only in one in this city resulting National Bank of In feeling vesterday of uneasiness of the fact, when there banking were houses greater Kansas opened City this morning less proportions crowds of national banks. The stockholdeach around LOUIS, the MO., July and 6. loan wondering at. ers ST. of six building at $600,000. The are are they where 1, 2.3,4, Nos. Union of Secretary to-day the Western J. Bogard, one of the are and Yesterday and in also the city, gave John all the real estate dealers all his all property rates to of largest warranty deeds of lender, whose for ord! nary Vette, a money considered too high For what business were deeds H interest are men to touch. given could not of holders stock the learned. learned The of the transac their and readily be ociations alarmed for the six this morning to Bogard An office, 2xamination own tion, interests, swarmer of his commenced. books. but it time and took posses was at once to unravel the mean them in complicated not of will take long condition be In found, and, the situation time their Bogard explana could of his side Bogard is therefore, could no $15,000 be obtained to the building and manu under bond of to secure them. Abies, loan octations July 15. Emil assignment to to day George facturing New YORK, currier Fragner made an without prefer The Kaufmann claim ences CINCINN O., July has 15. assigned. to $600, The company to Brewing Company the assets $150,000 amount AttorManager Emice 000 and the Shreffer liabilities and appoineed Brewery receivers. be will An effort nev Frank Schmitt were made to affect a settle ment. C. A. Cheney, President July 15. National Bank in dead. Few NEW ORK of Garfield were better known han he. financial circle July 15.--YssterWASHINGUOS of offers day's or were not made public offered prices. the to as either ounces This bureau ounces of vestor


Article from The Portland Daily Press, July 17, 1893

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Another Arrest. TACOMA, Wash., July 16.-W. S. Dusenberry, cashier of the suspended bank of Puyallup, was arrested at Yaki maya, charged with embezzling $41,000 of the bank's funds. He is a prominent man here. Dusenberry was taken to Puyallup for a hearing. Bail was fixed at $10,000, which he was unable to furnish, and he was remanded to jail. Where Are They At? ST. LOUIS, Mo., July 15.-The stockholdersof six building and loan associations, each capitalized at $600,000, are wondering today where they are at. The associations are the Western Union, Nos. 1, 2, 3, 4, 5 and 6. Yesterday, Milo T. Bogard, secretary of all the associations, and also one of the largest real estate dealers in the city, gave warranty deeds of all his property to John H. Vette, a money lender whose rates of interest are considered too high for ordinary business men to touch. For what purpose the deeds are given could not readily be ascertained. The stockholders of the six associations learned of the transaction this morning and alarmed for their own interest hastened to Bogard's office and took possession of his books. An examination was at once commenced, but it will take a long time to unravel them in their complicated condition. In the meantime Bogard could not be found and therefore no explanation of his side of the story could be obtained. Trouble in Kansas City. KANSAS CITY, Mo., July 15.-The failure of the Bank of Kansas City yesterday precipitated runs on three-fourths of the large. banks in the city today, and Delaware and Ninth streets, the bank streets, were thronged as never before in years. The Bank of Commerce had three policemen before its door, and none except those who had business with the bank were allowed to enter. There have been rumors about a bank which has a paid-up capital of $2,000,000 for some time, and last night the stockholders realizing the bank was in danger, owing to the excitement, signed a pledge passing their estates into the bank's assets. The sum total was about $4,000,000. At noon confidence in a large measure had been restored, and the runs stopped except on the Missouri National, which continued slowly. Unless some bank fails the crisis for the immediate present is passed. Tried an Unfortunate Experiment. NEW YORK, July 16.-Chancellor McGill at Jersey City, yesterday, appointed John C. Paul receiver of the Garwood Steel Works. The company was originally a Boston concern and made steel car wheels. The works are at Garwood, N. Y., and $300,000 has been lost in following a new process.


Article from The Sun, July 20, 1893

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Confidence Restored In Kansas City. KANSAS CITY. July 19.-A feeling of confidence is growing daily in Kansas City. People now realize that the flurry among the banks is over. and at every bank to-day receiving tellers were busier than the paying tellers. Those who withdrew their deposits when excitement was greatest are returning them to the banks. while those who had deposited in the banks which went down have taken up the subject of reopening with a vim. If the wishes of the depositors in the two national banks which suspended. the Bank of Kansas City and the Missouri National. were followed. the doors would be thrown open to-morrow morning. but those banks are in the hands of the Comptroller of the Currency.


Article from Barton County Democrat, July 20, 1893

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BANK FAILURE. The Bank of Kansas City with Plenty of Assets Unable to Stand the Pressure. KANSAS CITY, Mo., July 14.-The Bank of Kansas City (Chick's bank) suspended yesterday, placing its affairs in the hands of the comptroller. This was probably the largest bank in the city. The assets, President J. S. Chick said, will be between $2,000,000 and $3,000,000 and the liabilities between $800,000 and $1,000,000. He is confident that the depositors will be paid dollar for dollar. It has a capital stock of $1,000,000. At its last statement on May 4 it had a surplus fund of $200,000 and undivided profits of $24,660.24. Its circulation in national bank notes was $45,000, which was secured by $50,000 in United States bonds. It has outstanding loans of about 31/3 million dollars.


Article from The Iola Register, July 21, 1893

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BANK FAILURE. The Bank of Kansas City with Plenty of Assets Unable to Stand the Pressure. Kansas CITY, Mo., July 14.-The Bank of Kansas City (Chick's bank) suspended yesterday, placing its affairs in the hands of the comptroller. This was probably the largest bank in the city. The assets, President J. S. Chick said, will be between $2,000,000 and $3,000,000 and the liabilities between $800,000 and $1,000,000. He is confident that the depositors will be paid dollar for dollar. It has a capital stock of $1,000,000. At its last statement on May 4 it had a surplus fund of $200,000 and undivided profits of $24,660.24. Its circulation in national bank notes was $45,000, which was secured by $50,000 in United States bonds. It has outstanding loans of about 3½ million dollars.


Article from The Globe-Republican, July 21, 1893

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BANK FAILURES. Several Kansas City Banks Forced to the Wall. KANSAS CITY, Mo., July 14.-The Bank of Kansas City (Chick's bank) suspended yesterday. placing its affairs in the hands of the comptroller. This was probably the largest bank in' the city. The assets, President J. S Chick said. will be between $2,000,000 and $3,000,000 and the liabilities between $800.000 and $1,000,000. He is confident that the depositors will be paid dollar for dollar. It has a capital stock of $1,000,000. At its last statement on May 4 it had a surplus fund of $200,000 and undivided profits of $24,660.24. Its circulation in national bank notes was $45,000, which was secured by $50,000- in United States bonds. It has outstanding loans of about 3½ million dollars. KANSAS CITY, Mo., July 18.-Twenty minutes before noon to-day the Missouri national bank suspended payment, closed its doors and sent for Bank Examiner Galbreath. The comptroller of the currency at Washington was immediately notified. The bank'sassets are $1,254,785.50 and the liabilities outside of its capital stock about $700,000. The Bank of Grand avenue, which carried on business at 1401 Grand ave nue, closed its doors at 9:40 o'clock this morning, assets $200,000, liabilities about $140,000. The bank claims to have funds tied up by the failure of the Bank of Kansas City, which occurred Friday. THE NORTHRUP BANK. KANSAS CITY, Kan., July 17.-The Northrup bank, one of the oldest in the city, closed Saturday. The liabilities are about $315,000; assets about $450,000. The Armourdale bank suspended, but later statements say that it will resume.


Article from People's Voice, July 21, 1893

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BANK FAILURE. The Bank of Kansas City with Plenty of Assets Unable to Stand the Pressure. KANSAS CITY, Mo., July 14.-The Bank of Kansas City (Chick's bank) suspended yesterday, placing its affairs in the hands of the comptroller. This was probably the largest bank in the city. The assets, President J. S. Chick said. will be between $2,000,000 and $3,000,000 and the liabilities between $800,000 and $1,000,000. He is confident that the depositors will be paid dollar for dollar. It has a capital stock of $1,000,000. At its last statement on May 4 it had a surplus fund of $200,000 and undivided profits of $24,660.24. Its circulation in national bank notes was $45,000, which was secured by $50,000 in United States bonds. It has outstanding loans of about 3½ million dollars.


Article from Macon Beacon, July 22, 1893

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BANK FAILURE. The Bank of Kansas City with Plenty of Assets Unable to Stand the Pressure. KANSAS CITY,* Mo., July 14.-The Bank of Kansas City (Chick's bank) suspended yesterday, placing its affairs in the hands of the comptroller. This was probably the largest bank in the city. The assets, President J. S. Chick said, will be between $2,000,000 and $3,000,000 and the liabilities between $800,000 and $1,000,000. He is confident that the depositors will be paid dollar for dollar. It has a capital stock of $1,000,000. At its last statement on May 4 it had a surplus fund of $200,000 and undivided profits of $24,660.24. Its circulation in national bank notes was $45,000, which was secured by $50,000 in United States bonds. It has outstanding loans of about 31/2 million dollars.


Article from The Middleburgh Post, July 27, 1893

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THE PANIC ABOUT OVER. THE FINANCIAL EXCITEMENT IN DENVER THOUGHT TO BE AT AN END. MONEY COMING IN AT THE BANKS. The timorous feeling mong depositors in the Denver banks which has resulted in the closing of a number of these institutions within the past few days seems to have reached its limit and most of the people are now stopping to think, with the result that Lore money was being deposited than is being drawn. The German. State and Peoples' National Banks closed their doors early Wednesday morning. in order to forestall the heavy demands that it was evident would be made. As soon as this action had been taxen depositors in other banks seemed to take new courage, and talk on the streets was much more conservative and rational. During Wednesday afternoon the five national banks that are open for business showed no signs of any usual excitement among their patrons. Indeed their banking houses were quieter than on many days during ordinary times and everybody seems to feel that the end of the unjustifiable excitement has been reached. A number of banking houses at Denver. and small banks throughout Colorado failed Wednesday on account of Tuesday's excite ment at Denver. KANSAS CITY, Mo.-A feeling of confidence is growing daily in Kansas City, People now realize that the flurry among the banks is over and at every bank on Thursday receiving tellers were busier than the teliers who pay out. If the wishes of the depositors in the two national banks which suspended, the Bank of Kansas City and the Missouri National were followed the doors would be thrown open at once.