10298. City National Bank (Kansas City, MO)

View Charter #5250 on SPMC

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
5250
Charter Number
5250
Start Date
July 20, 1905
Location
Kansas City, Missouri (39.100, -94.579)

Metadata

Model
gpt-5-mini
Short Digest
a11a527b

Response Measures

None

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1905-07-20
Date receivership terminated
1906-06-30
OCC cause of failure
Losses
Share of assets assessed as good
57.7%
Share of assets assessed as doubtful
37.5%
Share of assets assessed as worthless
4.9%

Description

The City National Bank of Kansas City was taken into the custody of the Comptroller/Bank Examiner and failed to open on July 20, 1905 due to heavy holdings of C.J. Devlin (Topeka) paper and other bad loans. There was no large, discrete depositor run reported—withdrawals had been gradual—so this is a suspension (closed by examiner) that resulted in receivership and permanent closure. Receiver appointment and receiver's report are documented in August 1905.

Events (5)
1. February 2, 1900 Chartered
Source
historical_nic
2. July 20, 1905 Receivership
Source
historical_nic
3. July 20, 1905 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Held substantial amounts of C.J. Devlin (Topeka) paper (~$100,000+ reported) tied to the failure of the First National Bank of Topeka and other bad paper; examiner ordered bank to take up $200,000 of bad paper or not open; committee of bankers refused assistance.
Newspaper Excerpt
The City National bank failed to open its doors today... The bank was closed by E. E. Ames, bank examiner, under instructions from the comptroller of the currency.
Source
newspapers
4. August 9, 1905 Receivership
Newspaper Excerpt
The first report of the receiver of the City National Bank of Kansas City, Mo., which closed its doors on July 20, 1905, was received today by the controller of the currency... classification of assets: Good $849,549; doubtful $551,898; worthless $71,585 ... committee proposed plan to organize a trust company to take over assets and assume liabilities, but receiver remained in charge to permit plans to be arranged.
Source
newspapers
5. August 10, 1905 Other
Newspaper Excerpt
W. C. Pierce to be receiver. Maryville banker will take charge of City National Bank... Mr. Pierce will take charge of the bank next Thursday. T.P. Kane, acting comptroller of the currency, decided upon the appointment of Mr. Pierce.
Source
newspapers

Newspaper Articles (21)
1. July 20, 1905 Evening Star Washington, DC
Article from Evening Star, July 20, 1905

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Article Text

Bank Examiner Takes Charge. The bank was closed by E. E. Ames, bank examiner, under instructions from the controler of the currency. The controler had yesterday, it is stated, informed the officers of the bank that it must take up $200,000 bad paper immediately or they would not be permitted to open today. The bank was examined last night by a committee of local bankers, who reported at a meeting early today that the affairs of the institution were in such shape that they would not feel justified in extending assistance. Although the City National Bank was not a member of the local clearing house association, that association, it was stated by one of its officers today, would have extended aid had they not found so much bad paper. Although the holding of Devlin paper upon which no immediate realization could be made was the prime cause of the failure, it is stated that the general knowledge that the bank held other bad paper and was in a weakened condition had led to a gradual withdrawal of deposits. At no time had a run of any big proportions been on, but it is stated withdrawals had been made quietly for several months, and that within sixty days $600,000 had been taken. From another source it was asserted that when the City National Bank was ordered to repair its capital several months ago the needed funds were burrowed, not from a local capitalist, but from certain New York banks, but what institutions it was not disclosed. Examiner Ames said today that it would be impossible for him to talk at this time either regarding this statement or other affairs of the bank. The bank officials likewise declined to issue a statement now. The majority of the bank's depositors are persons in medium circumstances, twothirds of whom live outside Kansas City. There was no excitement at the doors of the bank when the closing notice was posted today, less than a dozen depositors appearing to withdraw their money. Had Varied Experience. The posting of this second notice developed the fact that other Kansas City banks, knowing that the City National was to fail, wired certain of the latter's outside customers, principally small near-by banks, that they would pay certain drafts drawn on the City National. Later in the day other notices, from other Kansas City banks, designating different outside Institutions which they offered to protect on drafts drawn through the City National were posted. The City National Bank has had a varied experience. In its five years' existence it has had four sets of officers, and upon numerous occasions the controller of the currency has called upon its officers to repair its capital or to conform in other ways with the banking laws. It was organized in 1900, with a capital of $250,000. Last winter the capital was reduced to $200,000. Later the capital was increased $100,000, to $300,000, charging off all its surplus and $50,000 of Its original capital. It now develops that this did not take out all the bad paper. Aside from the notice placed on the bank door by Examiner Ames, which simply stated that the bank was in charge of the controller of the currency, the following unsigned notice was pasted up later: "Present all drafts drawn by the following banks on the City National Bank of Kansas City, Mo., to the National Bank of Commerce, Kansas City, Mo., for payment: "Bank of Greeley, Greeley, Kan. "Citizens' State Bank, Belle Plaine, Kan. "Citizens' State Bank, Osage City, Kan. "Citizens' State Bank, Edna, Kan. "Citizens' State Bank, Paola, Kan."

2. July 20, 1905 Albuquerque Evening Citizen Albuquerque, NM
Article from Albuquerque Evening Citizen, July 20, 1905

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DEVLIN WRECKED KANSAS CITY BANK But Besides His Notes Bank Held Other Bad Paper. LARGE DEPOSITS ARE WITHDRAWN Kansas City, July 20.-The City National bank failed to open its doors today. The bank held checks of C. J. Devlin of Topeka for upwards of $100,000, and its failure is the direct result of that of the First National bank of Topeka, of which Devlin was the principal stockholder. The City National bank had a capital of $300,000 and deposits of nearly a million and a half. The bank was closed by E. E. Ames, bank examiner, under instructions from the comptroller of the currency. The comptroller yesterday, it is asserted, informed the officers of the bank that it must take up $200,000 of bad paper immediately or it would not be permitted to open today. The bank was examined last night by a committee of local bankers who reported at the meeting early today that the affairs of the bank were in such shape that they would not feel justified in extending assistance. Although the holding of Devlin paper, upon which no immediate realization could be made, was the prime cause of the failure, it was stated that a general knowledge that the bank held other bad paper and was in bad condition, had led to a gradual withdrawal of deposits during several months. These withdrawals in the last sixty days amount to $600,000.

3. July 20, 1905 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, July 20, 1905

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Another Bank Goes Down Under the Weight of Devlin's Securities IS STATEMENT NO MADE Devlin Was Credited to Extent of $100,000 and the Bank is Said to Have Carried Other Bad Paper Many Depositors Outside of Kansas City-General News. Kansas City, July 20.-The City National bank failed to open its doors today. The bank held paper of C. J. Devlin, of Topeka, to the amount of upwards of $100,000, and the failure is the direct result of the closing of the First National Bank of Topeka, of which Devlin was the principal stockholder. Some time ago the comptroller of the currency at Washington instructed the officers of the City National bank to repair its capital. This was done by borrowing from a local capitalist. Following the failure of the First National a Kansas City capitalist became insistent upon the repayment of his loan and this demand caused the officers of the City National to decide upon closing their institution. From another source it was asserted that when the City National was ordered to repair its capital several months ago the needed funds were borrowed, not from a capitalist, but from certain New York banks, but what institutions it was not disclosed. Examiner Ames said today it would be impossible for him to talk at this time, either regarding this statement or other affairs of the bank. The bank's officials likewise have declined to issue a statement now. The only other bank in Kansas City which was caught in the failure of the First National Bank of Topeka was the American National Bank of Kansas City, which is said to hold upwards of $2,000 of Devlin paper. It was stated positively today by a leading banker that other Kansas City institutions would not permit this bank to fail. There was no appearance. of a run on the other banks at the opening hour. today. The City National Bank was organized in 1900. Its capital was $300,000, and it has deposits of $1,476,648. Edward Crebo is president; James G. Strean, cashier. Although the holding of Deviin paper, upon which no immediate reallzation could be made, was the prime cause of the failure, it is stated the general knowledge that the bank had other bad paper and was in a weakened condition, had led to gradual withdrawal of deposits. The majority of the bank's depositors are persons in medium circumstances, two-thirds of whom live outside of Kansas City. There was no excitement at the bank and less than a dozen depositors appeared to withdraw their money. The bank was closed under instructions from the comptroller of the currency. The comptroller had yesterday, it is stated, informed the officers of the bank that it must take up $200,000 of bad paper immediately or they would not be permitted to open today. The bank was examined last night by a committee of local bankers who reported, at a meeting early today, the affairs of the institution were in such shape they would not feel justified in extending assistance.

4. July 20, 1905 The Daily Tribune Florence, CO
Article from The Daily Tribune, July 20, 1905

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KANSAS CITY BANK FAILS Bad Management Said to Be Responsible. Carried Some of the Devlin Paper Which is Not Choice Security-Met Gradual Decrease in Business. Kansas City, July 20-The City National Bank, the youngest and smallest national bank in the city, was taken in charge today by the comptroller of the currency on request of Bank Examiner Ames. The institution has a capital stock of $300,000, with deposits of about $900,000. and loans of about $1,000,000. It was not a member of the Kansas City clearing house. The cause of the trouble is charged to bad management. The bank held about $100,000 of the Dev. lin paper. There has been no notice. able run on the bank, but the last statement failed to show gains along with the other city banks.

5. July 20, 1905 The Providence News Providence, RI
Article from The Providence News, July 20, 1905

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DEVLIN FAILURE IS CAUSE OF ANOTHER BANK SUSPENSION. Kansas City, Mo., July 20.-The City National bank failed to open its doors today. The bank held paper of C. J. Devlin of Topeka to the amount of upwards of $500,000 and the failure is the direct result of the closing of the First National bank of Topeka, of which Mr. Devlin was the principal stockholder. Some time ago the comptroller of the currency at Washington instructed the officers of the City National bank to repair its capital. This was done by borrowing from a local capitalist. Following the failure of the First National bank at Topeka, the Kansas City capitalist insisted upon repayment of his loan and this demand caused the officers of the City National to decide upon closing the institution.

6. July 21, 1905 Barton County Democrat Great Bend, KS
Article from Barton County Democrat, July 21, 1905

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K. C. BANK GOES UNDER. Supposed to be Partly Caused by Devlin Failure. WAS CLOSED ON SUSPICION. Kansas City, Mo., July 20.-The City National Bank, the youngest and smallest national bank of this city, was taken in chaage by Comptroller of the Currency through Bank Examiner Ames, today. The bank has a capital of three hundred thousand dollars, and dsposits of about nine hundred thousand. Alleged bad management is given as the cause of the failure. Its officers are: President Edward Crebe; Vice President, C. A. Loomis of Topeka; Cashier J. G. Stream. The Devlin failure is thought by some to have had some connection with the bank's failure, but there had been no noticeable run on the bank. Its successive statements have not been showing gains in proportion to those of all other banks of the city and this section of late. The bulk of the deposits is stated belonged to country banks. The defunct institution held about a hundred thousand dollars of De In paper.

7. July 21, 1905 Arizona Republican Phoenix, AZ
Article from Arizona Republican, July 21, 1905

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Failure of a Kansas City s Bank Laid There IT WAS ALREADY WEAK And Gave Way Under the Weight of the Topeka Capitalist's Paper-It is Apprehended that There Will be no Other Financial Cataclysm. Kansas City, July 20.-The City National Bank failed to open its doors this morning. The bank held the paper of C. J. Devlin of Topeka to the amount of upwards of $100,000. The failure is the direct result of the closing of the First National Bank of Topeka of which Devlin was the principal stockholder. The City National was organized five years ago and is the youngest national bank in the city. It had a capital of $300,000 and deposits of $1,600,000. Up to the close of banking hours no flurry affecting other local institutions had followed the failure of the City National Bank. Nothing bordering on a run was experienced at any of the other local banks, and according to the officers at each place, none was expected. The City National had been in a weakened condition for some time. Its failure had been anticipated and therefore no surprise was shown in banking circles today when the announcement was made that it had been taken in charge by National Bank Examiner Ames. Neither Mr. Ames nor the failed bank's officials or its attorneys were in a position to make a definite statement regarding the bank's condition. The failure of the City National Bank of Kansas City was due in a great measure to the fact that it held upwards of $100,000 of C. J. Devlin's paper, which is tied up in the recent failure of the First National Bank of Topeka of which Mr. Devlin was the principal stock holder. The only other Kansas City bank that had held Devlin paper was the American National. C. S. Jobes, president of the American National Bank stated today that $307,000 of Devlin paper held at the time of the Topeka failure had been purchased since then from the American National by its directors. Thus it was stated there was no cause for 2 run on the American Notional. Indeed, it was anounced by a member of the Kansas City clearing house that no other Kansas City bank would be permitted to fail in case of a run which was not expected, and that the large houses would gladly have aided the City National Bank had it not been for the latter carrying so much bad paper. The Citizens Bank of Eureka, Kan.. and the First National Bank of Toronto, Kan., both of which institutions were headed by Edward C. Rego, president of the City National Bank, had apparently not been affected by the Kansas City failure up to the closing hour today. Telephone messages from both points stated that the banks would not close.

8. July 21, 1905 The Birmingham Age-Herald Birmingham, AL
Article from The Birmingham Age-Herald, July 21, 1905

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KANSAS CITY BANKS WEATHER THE STORM NO RUNS ARE MADE ON OTHER INSTITUTIONS AS RESULT OF THE FAILURE OF THE CITY NATIONAL. Kansas City, July 20.-Up to the close of banking hours no flurry affecting other local institutions had followed the failure today of the City National bank of Kansas City. Nothing bordering on a run was experienced at any of the other local banks, and according to the officers at each place, none was ex pected. The City National had been in a weakened condition for some time. Its failure had been anticipated, and therefore, no surprise was shown in banking circles today when the announcement was made that it had been taken in charge by National Bank Examiner Ames. Neither Mr. Ames nor the failed bank's officials or its attorneys were in a position to make a definite statement regarding the bank's condition. The failure of the City National bank of Kansas City was due in a great measure to the fact that it held upwards of $100,000 of C. J. Devlin's paper, which is tied up in the recent failure of the First National bank of Topeka of which Mr. Devlin was the principal stockholder. The only other Kansas City bank that had held Devlin paper was the American National. C. S. Jobez, president of the American National bank, stated today that $367,000 of Devlin paper, held at the time of the Topeka failure, had been purchased since then from the American National bank by its directors. Thus it was stated there was no cause for a run on the American National. Indeed, it was announced by a member of the Kansas City clearing house that no other Kansas City bank would be permitted to fail in case of a run, which was not expected.

9. July 21, 1905 Americus Times-Recorder Americus, GA
Article from Americus Times-Recorder, July 21, 1905

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KANSAS CITY BANK f 1 GLOSED ITS DOORS : S Comptroller of the Currency Is : In Charge of Affairs. . I . HELD LOTS OF DEVLIN'S PAPER 0 d There Had Been a Gradual Withdrawal I of Deposits for the Last Sixty Days. There Was, However, Over a Mil. e lion Dollars Still on Deposit. I Kansas City, July 20.-The City National bank failed to open its doors 7 today. The bank held paper of C. J. Devlin, of Topeka, to the amount of $100,000, and the failure is the di) rect result of the closing of the First e National Bank of Topeka, of which Mr. I Devlin was the principal stockholder. e Some time ago the comptroller of ) the currency at Washington instructed : the officers of the City National bank to repair its capital. This was done by borrowing from a local capitalist. Following the failure of the First National Bank of Topeka, the Kansas City capitalist became insistent on repayment of his loan and this demand caused the officers of the City National bank, their institution being closed. The other bank in Kansas City that was caught in the failure of the First National Bank of Topeka, was the American National Bank of Kansas City which is said to hold upward of $200,000 of Devlin paper. It was stated positively today to the Associated Press by a leading banker that the other Kansas City institutions would not permit the bank to fail. There was no appearance of a run on other Kansas City banks at the opening hour. The total resources of the bank are $1,989,720; deposits $1,476,641. The bank was closed by E.E.Ames, bank examiner, under instructions from the comptroller of the currency. The comptroller, it is stated, informed the officers of the bank that it must take up $200,000 bad paper immediate. ly or they would not be permitted to open today. The bank examined last night by a committee of local bankers who reported, at a meeting early today that the affairs of the institution were in such shape that they would not feel justified in extending assistance, Although the City National bank was not a member of the local clearing house association, that association, it is stated by one of its officers today, would have extended aid had they not found so much bad paper. Although the holding of Devlin pa per, upon which no immediate realization could be made was the prise cause for the failure, it is stated that the general knowledge that the bank held other bad paper and was in a weakened condition had led to a gradual withdrawal of deposits. At no time had a run of any big proportions been on, but it is stated withdrawals had been made quietly for several months and that within 60 days $600,000 had been taken out.

10. July 21, 1905 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, July 21, 1905

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KANSAS CITY, July 20.-Up to the cle ing of banking hours no flurry affecting other local institutions had followed the failure today of the City National bank of Kansas City. Nothing bordering on a run was experienced at any of the other local banks, and, according to the officers at each place, none was expected. The City National had been in a weakened condition for some time. Its failure had been anticipated and therefore no surprise was shown in banking circles today when the announcement was made that it had been taken in charge by Bank Examiner Ames. Neither Mr. Ames nor the failed bank's officials or its attorneys were in a position to make a definite statement regarding the bank's condition. The failure was due in a great measure to the fact that the bank held upwards of $100,000 of C. J. Devlin's paper, which was tied up in the recent failure of the First National bank of Topeka, of which Mr. Devlin was the principal stockholder. The only other Kansas City bank that had held Devlin paper was the American National. C. S. Jobes, president of the American National, stated today that the $307,000 of Devlin paper held at the time of the Topeka failure had been purchased since then from the American National bank by its directors. Thus, it was stated, there was no cause for a run on the American National. Indeed, it was announced by a member of the Kansas City clearing house that no other Kansas City bank would be permitted to fail, in case of a run, which was not expected, and that the clearing house would gladly have aided the City National bank had it not been found that the latter carried so much bad paper. The Citizen's National bank of Eureka, Kan., and the First National bank of Toronto, Kan., both of which institutions were headed by Edward Crebo, president of the City National bank, had apparently not been affected by the Kansas City failure up to the closing hour today. Telephone messages from both points stated that the banks would not close. Loan Becomes Due. Some time ago the comptroller of the currency at Washington instructed the officers of the City National bank to repair its capital. This was done by borrowing from a local capitalist. Following the failure of the First National bank of Topeka the Kansas City capitalist became insistent upon repayment of his loan and this demand caused the officers of the City National to decide upon closing their institution. The only other bank in Kansas City which was caught in the failure of the First National bank of Topeka was the American National bank, which is said to hold upwards of $200,000 Devlin paper, It was stated positively today to the Associated Press by a leading banker that the other Kansas City institutions would not permit this bank to fail. There was no appearance of a run on other Kansas City banks at the opening hour today. The City National bank was organized in 1900 and is one of the youngest of the national banking institutions in the city. Its capital is $300,000 and it has deposits of $1,476,648. Its officers are: Edward Crebo, president: James G. Strean, cashier: John Moore, vice president; Charles A. Loomis, second vice president. The Last Statement. The last statement or the City National bank, issued on May 29, 1905, showed the following: RESOURCES. Loans and discounts $1,036,545.70

11. July 21, 1905 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, July 21, 1905

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(Continued from First Page.) door by Examiner Ames, which simply stated that the bank was in charge of the comptroller of the currency, the following unsigned notice was posted later: "Present all drafts drawn by the following banks on the City National bank of Kansas City, Mo., to the National Bank of Commerce, Kansas City, Mo., for payment: "Bank of Greeley, Greeley, Kan.; Citizens State bank, Belle Plain, Kan.; Citizen's State bank, Osage City, Kan.; Citizens State bank, Edna, Kan.; Citizens State bank, Paola, Kan." The posting of this second notice developed the fact that other Kansas City banks, knowing that the City National was to fall, wired certain of the latter's outside customers, principally small nearby banks, that they would pay certain drafts drawn on the City National. Later in the day other notices from other Kansas City banks designating different outside institutions whom they offered to protect on drafts drawn through the City National were posted. The City National bank has had a varied experience. In its iveryears' existence it has had four sets of officers, and upon numerous occasions the comptroller of the currency has called upon its officers to repair its capital or better conform in other ways with the banking laws. It was organized in 1900 with a capital of $250,000. Last winter the capital was reduced to $200,000. Later the capital was increased $100,000 to $300,000, charging off all their surplus and $50,000 of their original capital. It now develops that this did not take out all the bad paper. Country Towns Are Hit. Later Edward Crebo, president of the failed bank, said: Our bank had a large amount of C. J. Devlin companies' paper. This was of uncertain value, and the chances to realize on it seemed so remote that we decided it better to close the bank and liquidate its accounts. Our depositors were mostly in country towns. We did not carry much Kansas City money. I can give no figures now of the bank's condition. Edward Crebo, who is a railroad contractor, is also president of the Citizens' National bank of Eureka. Kan.. capital $50,000, and the First National bank of Toronto, Kan., capital $25,000. On the board of directors of the City n National bank are. Leroy M. Baldwin of New York, president of the Empire Trust company and a director of the Phoenix National bank of that city, and George C. Warner, also of New York. Securities Returned to Topeka. TOPEKA, Kan., July 20.-Between $150,000 and $200,000 in gilt-edged securities of h the defunct First National bank of Tod peka was today returned by C. S. Jobes of the American National bank of Kansas City. This security had been given to get $50,000 cash for the First National of Topeka on the day of the failure. The $50,000 S was not used, but returned to Kansas City. 1 Mr. Jobes has held the securities until today, as he claims, as part security for S $263,000 overdraft by the First National on the American National. c Cyrus Leland and J. E. Hurley, receivers e for the Devlin estate, have gone to Chicago to meet Walter Reeves, the third receiver. Some matters of importance regarding the a settlement of the estate will be discussed Receiver James T. Bradley of the First n National bank said tonight that his report S of the bank's condition would be ready in a short time. He received information e today which he has been waiting for and which has delayed the completion of the S report. No Illegal Loans. WASHINGTON, July 20.-The acting comptroller of the currency in a statement issued today regarding the closing of the e City National bank of Kansas City says e that no loans exceeding the limit of 10 n per cent of the bank's capital are shown by the last report of the condition of the bank at the close of business on May 29.

12. July 21, 1905 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, July 21, 1905

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CARRIED AN EXCESS OF BAD PAPER City National Bank Kansas City in the Hands of National Examiner Ames-Failure Had Been Long Anticipated. ANSAS CITY, July 20.-Up to the close Devlin was the principal stockholder. Another Kansas City bank that held Devlin of banking hours no flurry affecting K paper was the American National. C. S. other local institutions had followed Jones, president of the American Nationa! bank, stated today that $807,000 Devlin the failure today of the City National paper held at the time of the Topeka bank of Kansas City. Nothing bordering failure had been purchased since then on a run was experienced at any of the lofrom the American National bank by its cal banks, and, according to the offices at directors. Thus, it was stated there was no cause for a run on the American Naeach place, none was expected. The City tional. National had been in a weakened conOther Banks Will Be Aided. dition for some time. Its failure had been anticipated and therefore no surprise was Indeed, it was announced by a member shown in banking circles today when the of the Kansas City clearing house that no announcement was made that it had been other Kansas City bank would be pertaken in charge by National Bank Exmitted to fail in case of a run which was aminer Ames. Neither Mr. Ames nor the not expected and that the clearing house failed bank's officials or its attorneys would gladly have aided the City Nationwere in a position to make a definite al bank had it not been found that the statement regarding the bank's condilatter carried so much of the paper. tion. The Citizens' National hank of ureka

13. July 21, 1905 The Pensacola Journal Pensacola, FL
Article from The Pensacola Journal, July 21, 1905

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BANK IN BAD SHAPE Committee of Bankers Refused to Extend Assistance. HAD $200,000 WORTH OF BAD PA PER OUTSTANDING WHICH IT WAS UNABLE TO TAKE UP-IMMENSE WITHDRAWALS OF DEPOSITS RECENTLY. By Associated Press. Kansas City,, Mo., July 20.-The City National Bank failed to open its doors to-day. The bank held the paper of C. J. Devlin, of Topeka, for upwards of $100,000 and the failure is a direct result of the closing of the First National Bank of Topeka of which Devlin was the principal stockholder. The City National Bank was organized in 1900. and is one of the youngest of the national banking institutions in the city. Its capital is $30,000 and it has deposits of $1,430,648. Its officers are: Edward Crebo, president; James G. Stean, cashier; John Moore, vice president; Charles A. Loomis, second vice president, The last statement of the City National Bank, issued on May 29, 1905, shows the following: Resources. Loans and discounts, $1,036,546. Overdrafts, $640. United States bonds and premiums, $266,937. Cash and sight exchange, $685,597. Total, $1,989,720. Liabilities. Capital stock, $300,000. Undivided profits, $3,071. Circulation, $210,000. Deposits, $1,476,041. Total, $1,989,720. The bank was closed by E. E. Ames, bank examiner. under instruction from the comptroller of currency. The comptroller it is stated, informed the officers of the bank that it must take up $200,000 bad paper immediately or they would not be permitted to open to-day. The bank was visited last night by a committee of local bankers who examined the books and reported ata meeting early to-day that the affairs of the institution were in such shape that they would not feel justified in extending assistance. Although the City National Bank was not a member of the local clearing house association. that assicioation, it was stated by one of the officers today, would have extended aid had they not found so much bad paper. Although the holding of Devlin paper upon which no immediate realization could be made, was the prime cause of the failure, it is stated that the general knowledge that the bank held other bad paper and was in a weakened condition led to a gradual withdrawa] of deposits. At no time had a run of any big proportions been on, but it is stated, withdrawals had ben made quietly for several months and that within sixty days $600,000 had been taken out. The majority of the bank's depositors are in medium circumstances, two-thirds of whom live outside of Kansas City. There was no excitement at the doors of the bank when the closing notice was posted to-day, less than a dozen depositors appearing to withdraw their money.

14. July 21, 1905 New-York Tribune New York, NY
Article from New-York Tribune, July 21, 1905

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KANSAS CIIY BANK FAILS. Holdings of $100,000 in Devlin Paper Brought Disaster. Kansas City, July 20.-The City National Bank failed to open its doors to-day. The bank held paper of C. J. Devlin, of Topeka, for over $100,000, and the failure is the direct result of the closing of the First National Bank of Topeka, of which Devlin was the principal stockholder. Some time ago the Controller of the Currency at Washington instructed the officers of the City National Bank to repair its capital. This was done by borrowing from New-York banks. Following the failure of the First National Bank at Topeka, these banks insisted on repayment of their loans, and this caused the officers of the City National to decide on closing. The only other bank in Kansas City which was caught in the failure of the First National Bank of Topeka was the American National Bank of Kansas City, which is said to hold upward of $200,000 Devlin paper. It was stated positively to-day by a leading banker that the other Kansas City institutions would not permit this bank to fail, There was no run on other Kansas City banks. The City National Bank was organized in 1900, and is one of the youngest of the national banking institutions in the city. Its capital is $300,000, and it has deposits of $1,476,648. Its officers are Edward Crebo, president; James G. Stream, cashier; John Moore, vice-president, and Charles A. Loomis, second vice-president, The last statement of the City National Bank, issued on May 29, 1905, showed the following: Resources-Loans and discounts, $1,036,545 70; overdrafts, $639 60; United States bonds and premiums, $266,937 50; cash and sight exchange, $685,597 32; total, $1,989,720 12. Liabilities-Capital stock, $800,000; undivided profits, $3,071 18; circulation, $210,000; deposits, $1,476,648 94; total, $1,989,720 12. The bank was closed under instructions from the Controller of the Currency. The Controller yesterday, it is stated, informed the officers of the bank that it must take up $200,000 bad paper immediately or they would not be permitted to open to-day. The bank was examined last night by a committee of local bankers, who reported at a meeting early to-day that the affairs of the institution were in such shape that they would not feel justified in extending assistance. Although the Devlin paper was the chief cause of the failure, It is stated that the knowledge that the bank held other bad paper had led to a gradual withdrawal of deposits recently. The majority of the bank's depositors are persons in medium circumstances, two-thirds of whom live outside Kansas City. On the board of directors of the City National Bank are Leroy M. Baldwin and George C. Warner, of New-York.

15. July 22, 1905 Gainesville Daily Sun Gainesville, FL
Article from Gainesville Daily Sun, July 22, 1905

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KANSAS CITY BANK CLOSED ITS DOORS Comptroller of the Currency Is In Charge of Affairs. HELD LOTS OF DEVLIN'S PAPER There Had Been a Gradual Withdrawal of Deposits for the Last Sixty Days. There Was, However, Over a Million Dollars Still on Deposit. Kansas City, July 21.-The City National bank failed to open its doors today. The bank held paper of C. J. Devlin, of Topeka, to the amount of $100,000, and the failure is the direct result of the closing of the First National Bank of Topeka, of which Mr. Devlin was the principal stockholder. Some time ago the comptroller of the currency at Washington instructed the officers of the City National bank to repair its capital. This was done by borrowing from a local capitalist. Following the failure of the First National Bank of Topeka, the Kansas City capitalist became insistent on repayment of his loan and this demand caused the officers of the City National bank. their institution being closed. The other bank in Kansas City that was caught in the failure of the First National Bank of Topeka, was the American National Bank of Kansas City which is said to hold upward of $200,000 of Devlin paper. It was stated positively today to the Associated Press by a leading banker that the other Kansas City institutions wou. not permit the bank to fail. There was no appearance of a run on other Kansas City banks at the opening hour. The total resources of the bank are $1,989,720; deposits $1,476,641. The bank was closed by E. E. Ames, bank examiner, under instructions from the comptroller of the currency. The comptroller, it is stated, informed the officers of the bank that it must take up $200.000 bad paper immediate. ly or they would not be permitted to open today. The bank examined last night by a committee of local bankers who reported. at a meeting early today that the affairs of the institution were in such shape that they would not feel justified in extending assistance. A!though the City National bank was not a member of the local clearing house association. that association. It is stated by one of its officers today. would have extended aid had they not found so much bad paper. Although the holding of Devlin paper. upon which no immediate realiza. tion could be made was the prise cause for the failure. It is stated that the general knowledge that the bank held other bad paper and was in a weakened condition had led to a gradual withdrawal of deposits. At no time had a run of any big proportions been on. but it is stated withdrawals had been made quietly for several months and that within 60 days $600,000 had been taken out.

16. July 28, 1905 Highland Recorder Monterey, VA
Article from Highland Recorder, July 28, 1905

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NEWS IN SHORT ORDER. The Latest Happenings Condensed for Rapid Reading. Domestic Veterans, Sons of Veterans, members of Woman's Relief Corps and other patriotic societies attended the funeral in Boston of General Blackmar, commander-in-chief of the Grand Army of the Republic. Three laborers drank a can of beer and laid down on the Burlington tracks, at Omaha. One was killed, another fatally injured, and the third was injured and not awakened by his shaking up. A collection of $25,000 was taken up at the closing session of the Missionary and Christian Alliance of the Eastern District of the United States at Lancaster, Pa. A New York woman who is the mother of six children has passed the examination for admission to the New York bar. She was at the head of 1,000 candidates. Anthracite coal operators are reported to be storing immense quantities of coal with a view to resisting the demands of the miners when again made. Delamore Place, the historic home of the Bayard family, in Wilmington, will be sold in the settlement of the estate of the late Thomas F. Bayard. Six passengers on the steamer Finance arrived in New York from Panama, having abandoned their positions on the canal. The New York Legislation Committee will not be hampered by restrictions in its investigation of the Equitable Life Assurance Society. A Polish merchant of Pittston, Pa., is dead as the result of fright because of receipt of several "Black Hand" letters. Miss Florence Everett, of South Amboy, had a thrilling experience by being lost in a coal mine at Wilkesbarre, Pa. Miss Frances Schroeder, daughter of a former mayor of Brooklyn, New York, will wed Alfred J. Boulton, a mechanic. William Holroyd, a machinest, 23 years old, killed his 17-year-old wife in Philadelphia and then committed suicide. It is reported that the grave of the mother of Abraham Lincoln, near Lincoln City, Ill., is neglected. At a prayer-meeting in a Cleveland Baptist Church John D. Rockefeller said he never tasted rum. A serious riot occurred at the celebration of a Polish wedding near Latrobe, Pa. Charles M. Schwab denies that he gave $25,000 for a copy of "Fads and Fancies," but admits that he paid $1,500 for a subscription. In order to avert a disaster like that of the General Slocum, the steamer Sirius, with 1,000 Sunday School excursionists on board, was run ashore after she had struck a rock, which knocked a hole in the bottom. A Lockport (N. Y.) women left $5,000 to her only child and $40,000 for a home for houseless dogs and cats. Mary I. Nelson, who sued Frederick Gebhardt for $65,000, got judgment by default. The rate war between New York and Chicago may lead to a reduction of the fare to $1. J. H. Patterson gave a dinner to 10,000 persons in Ohio. The City National Bank of Kansas City, which held some of the Devlin paper, besides considerable other bad paper, was closed by order of the Comptroller of the Currency. J. B. Gregory, an escaped convict and expert counterfeiter, was arrested in Los Angeles, Cal. He has an unexpired term of seven years to serve in Detroit. Governor Higgins sent a message to the New York legislature recommending a legislative investigation of the insurance laws of the state. D. T. Terry, former president of the Howard County Bank, at Nashville, Ark., was arrested on the charge of embezzlement. The coroner's jury found four negro men and one woman implicated in the death of Mrs. S. J. Smith, in Sededen, Ala. Fred Montgomery, of Sandwich, Ontario, died from a wound caused by his being stabbed in the breast with a hatpin. Captain Hobson's bride became ill while traveling through Iowa and was taken to a hospital in Des Moines. The Cuban government has made permanent the suspension of Mayor O'Farrell, of Havana.

17. August 9, 1905 Evening Star Washington, DC
Article from Evening Star, August 9, 1905

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THE RECEIVER'S REPORT. Condition of the City National Bank of Kansas City. The first report of the receiver of the City National Bank of Kansas City, Mo., which closed its doors on July 20, 1905, was received today by the controller of the currency, and shows the following classification of assets: Good, $849,549; doubtful, $551,898; worthless, $71,585, and the liabilitles to be as follows: Individual deposits, $240,917; public, $15,000; certificates of deposit, $59,484; due to national banks, $285,397; due to other banks and bankers, $280,500; outstanding drafts, $21,990; cashier's checks and certified checks, $11,767; bills payable, $275; total, $1,190,057. Messrs. Charles A. Loomis and C.H. Pattison of Kansas City called at the controller's officee today and had a long conference with the acting controller in regard to the proposed organization of a trust company at Kansas City to take over the assets and assume the liabalities of the City National Bank. The proposition submitted was in effect that each depositor and other sets and assume the liabilities of the City National Bank to the Bankers' Trust Company and to accept, in full payment, onethird thereof in capital stock of the trust company and two certificates of deposit, bearing interest at 3 per cent per annum, each for one-third of his claim, payable March 1, 1906, and September 1, 1906, respectively. Or in lieu of certificates of deposit, each creditor to be allowed to maintain an open account with the trust company for one-third of his claim until March 1, 1906, and one-third more thereafter. They were advised that the proposition could not be entertained in the form presented; that there were only two plans which could be considered in connection with taking this bank out of the hands of a receiver-first, for -the directors to pay into the receiver's hands cash sufficient to cover the deficiency in liabilities and the expenses of the receivership, and, in addition thereto, to make good any impairment of the bank's capital; second, to pay into the receiver's hands an amount of money sufficient to pay off the liabilities to depositors and other creditors in full, including expenses of the receivership. Upon full compliance with the first condition the assets would be turned over to the directors and the bank permitted to resume business. Upon compliance with the second condition, a dividend of 100 per cent would be declared by the receiver to all depositors and other creditors and the assets turned over to the directors with approval of the court for liquidation in the interest of the stockholders. As the second plan would accomplish in effect the results desired to be attained by the plan submitted by this committee, but in a more definite and legal manner, the committee expressed their determination and confidence of being able to carry it into effect without material delay, and they were assured that the bank would be continued in the hands of Receiver Ames for a reasonable time to give them an opportunity to see what can be done in this connection. If this plan can be carried out, It will insure the prompt payment of all depositors and other creditors in full, and enable the controller to turn over the remaining assets to an agent elected by the stockholders for liquidation in their intereats.

18. August 10, 1905 The Rich Hill Tribune Rich Hill, MO
Article from The Rich Hill Tribune, August 10, 1905

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W. c. PIERCE TO BE RECEIVER. Maryville Banker Will Take Charge of City National Bank. KANSAS CITY, MO.-W. C. Pierce a banker of Maryville, Mo., will be appointed receiver of the City National bank of this city, and will take charge of the bank next Thursday. T.P. Kane, acting comptroller of the currency, decided upon the appointment of Mr. Pierce, who was indorsed by Senator William Warner. Senator Warner originally indorsed Senator S. T. Gilmore of Kansas City for the place of receiver, but Mr. Kane refused to appoint Mr. Gilmore because of the rule of the comptroller's office which prohibits the appointment of a receiver from the city in which the suspended bank is located.

19. January 10, 1906 Willmar Tribune Willmar, MN
Article from Willmar Tribune, January 10, 1906

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Business Failcres Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 23-Strauss-Green Co., Toledo, O.; liabilities $115,000, assets $100,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29-Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 6-Spartansburg, Pa., bank; capital, $25,000. 7-Coe Co., Minneapolis; liabilities, $200,000. 31-Citizens' bank, Lorain, O., as result of defalcation. Apr. 3-Ladoga, Ind., bank; assets $80,000, liabilities $109,000. 16-Owosso, Mich., private bank closes. 23-Merchants' Trust Co., New York, closed. 24-Canton, O., state bank closes Lexington, Okla., First national bank fails. 26-Barberton, O., First national bank 27-R. H. York & Co.. old Cleveland, O., brokers; liabilities, $40,000. Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands. 21-City Trust Co., Philadelphia, closes doors. 23-Vicksburg, Mich., exchange bank. 26-Knight, Donnelly & Co., Chicago. 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, Ill., national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities. $125,000. 13-Citizens' bank, Yellow Springs, O.; liabilities, $50,000. 19-Spring Valley, O., bank closes. 20-City national bank, Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 10-Four Denver, Col., Western bank officials' arrested on fraud charge. 21-Western bank, Louisville, Ky.; due to overloans. Sep. 19-Minot, S. D., national bank closes doors. 27-Johnson & Sloan, Minneapolis, Minn.; liabilities, $200,000 First national bank, Orville, O., closes doors. Oct. 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Chicago. Chicago National, Home Savingsand Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank, Memphis. Tenn., close doors; first named in liquidation.

20. January 12, 1906 The Montgomery Tribune Montgomery City, MO
Article from The Montgomery Tribune, January 12, 1906

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Business Failures Jan. 3-First national bank of Faribault, Minn., closed: receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29--Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 7-Coe Co., Minneapolis; liabilities, $200,000. Apr. 3-Ladoga, Ind., bank; assets $80,000, liabilities $109,000. 24-Canton, O., state bank closes Lexington, Okla., First national bank fails. 26-Barberton, O., First national bank Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands. 23-Vicksburg, Mich., exchange bank. 26-Knight, Donnelly & Co., Chicago. 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, Ill., national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities, $125,000. 19-Spring Valley, O., bank closes. 20-City national bank, Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 21-Western bank, Louisville, Ky.: due to overloans. Sep. 19-Minot, S. D., national bank closes doors. Oct. 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Ch'cago. Chicago National, Home SavIngs and Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank, Memphis, Tenn., close doors; first named in liquidation.

21. January 13, 1906 The Grenada Sentinel Grenada, MS
Article from The Grenada Sentinel, January 13, 1906

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Business Failures Jan. 3-First national bank of Faribault, Minn., closed; receiver appointed. 9-Brott cotton mills, Massachusetts, capital $1,200,000. 27-Standard Rope & Twine Co., N. Y., for $12,000,000. 29-Pan-American bank, Chicago; assets $17,200, liabilities $75,900. Mar. 5-Arnold Brewing Co., Saulte St. Marie, Mich.; liabilities $85,000; assets $65,000. 7-Coe Co., Minneapolis; liabilities, $200,000. Apr. 3--Ladoga, Ind., bank; assets $80,000, liabilities $109,000. 24-Canton, O., state bank closes Lexington, Okla., First national bank fails. 26-Barberton, O., First national bank Jun. 2-Ladysmith, Wis., First national bank closed. 19-Fyfe & Munson, Chicago, placed in receiver's hands. 23-Vicksburg, Mich., exchange bank. 26-Knight, Donnelly & Co., Chicago. 28-Terre Haute, Ind., national bank closed doors. Jul. 5-Spring Valley, Ill., and Toluca, III, national banks close. 6-Hagerstown, Ind., Commercial bank; liabilities, $125,000. 19-Spring Valley, O., bank closes. 20-City national bank, Kansas City, Mo. Aug. 3-West Liberty, Ky., bank closes. 21-Western bank, Louisville, Ky.; due to overloans. Sep. 19-Minot, S. D., national bank closes doors. Oct. 6-Peoria (III.) national bank closes because of Dougherty indictments. Nov. 1-Kingfisher (Okla.) national bank closed by comptroller of currency. Dec. 18-John R. Walsh's three banks in Ch'cago. Chicago National, Home Savings and Equitable company in liquidation. Local clearing house guarantees payment of $26,000,000. Public and private accounts involved. 27-Merchants Trust company, American Savings bank and Mechanics Savings bank, Memphis, Tenn., close doors; first named in liquidation.