10312. First National Bank (Kansas City, MO)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
national
Bank ID
3456
Charter Number
3456
Start Date
July 3, 1905
Location
Kansas City, Missouri (39.100, -94.579)

Metadata

Model
gpt-5-mini
Short Digest
e9865e8e

Response Measures

Full suspension

Other: Receiver J. T. Bradley was appointed and handled realization of securities and later declared a dividend; articles refer to 'run on the First National' tied to Devlin affairs.

Description

Contemporary articles describe a rush/run on the First National Bank (early July 1905), appointment of J. T. Bradley as receiver, disposition/return of hypothecated securities, and later dividends paid by the receiver (Sept 1906). Sequence: run, suspension/receivership, permanent closure (receiver).

Events (5)

1. February 24, 1886 Chartered
Source
historical_nic
2. July 3, 1905 Run
Cause
Bank Specific Adverse Info
Cause Details
Heavy withdrawals tied to the Devlin affairs — large overdrafts and embarrassment connected to C. J. Devlin's extensive liabilities and related publicity about his holdings and indebtedness.
Measures
Attempts to realize hypothecated securities; offers of emergency funds from National Bank of Commerce to pay demands; securities sent to (and in many cases returned from) Kansas City for sale to raise funds.
Newspaper Excerpt
the rush on Monday, July 3
Source
newspapers
3. July 4, 1905 Receivership
Newspaper Excerpt
Receiver Bradley ... returned to Receiver Bradley of the First National. Jobes for a time refused to give up possession ... Receiver Bradley claimed ... failure of the City National bank at Kansas City would not interfere ... with any progress which the First National bank might make. (article referring to Receiver Bradley).Devlin dividend... A 12 1/2 per cent dividend has been declared by J. T. Bradley, receiver of the First National bank. (1906 article).
Source
newspapers
4. July 4, 1905 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Following the run and Devlin-related liabilities the bank was placed in the hands of a receiver (J. T. Bradley) and suspended operations for settlement under the comptroller's direction.
Newspaper Excerpt
Receiver Bradley of the First National ... the rush on Monday, July 3
Source
newspapers
5. September 19, 1906 Other
Newspaper Excerpt
A 12 1/2 per cent dividend has been declared by J. T. Bradley, receiver of the First National bank ... The money amounts to $208,000 and arrived today. This is the first dividend since Christmas. (Sept. 19, 1906).
Source
newspapers

Newspaper Articles (5)

Article from The Topeka State Journal, July 4, 1905

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Article Text

the Kansas Judge National City. Elijah Bank Robinson, of Commerce attorney for of Chicompany cago. ContiA McClanahan, A. Trust representing the of the H. A. Fourth Charles National Forman, representing Missouri and S. Gleed, bank president of St. Louis. be president comto of corporation pany, Devlin This who properties. is formed Kansas to Telephone operate of the the the Devlin's them committee chief was agreed upon two hotel were chosen creditors. by the Three Baltimore by of is way The said. were formation removes named of all Sunday. esterday. committee. The other of the of the successful obstacles in the it creditors: bers were Devlin chosen corporation. arrying Its mem- out itself and, in by Devlin's terests of all the to safeguard money were not it those pledges to who raise itself all addition the creditors. to pledging the needed. biggest the as those who conferences purposes for were. well the tee Baltimore hotel represented including inlast night: formed J. H. the was is the which Harkless Concerning commit- said tee for to the act for purpose and on of this commititors to best the interests of behalf of and terests be conserved end that the all property the cred- inreduced posed to the and the to nobody that under preference minimum shall It be expenses proand tected thus all the creditorcircumstances, any given or The not. whether they were will represented be procommittee tion corporation. Until the with the directors corporation will of the act in conjuneexpense including of handling gets under way sands anteed money of to names. defray a payroll this will containing be the heavy. property, thou- The by this according to the expense is guarof of out the profits refunded committe the arrangement. the corporation. later How is be will much needed money men indefinite. did night they ceed but that some was conference estimated of dollars. 1/4 million by the dollars. not amount think At the Sunday needed it would said last this was included National in bank the of so the bank First the was estimations when Topeka million saving When removed went to the of large The a sum. the necessity wall for yesterday raising holdings transfer done been made. to but the it corporation Devlin's wife The signatures to tomorrow of morning, Mr. will probably has is private not be been be the secured all the and necessary Devlin papers said. those Much work of of but actual transfer have will most trace Harkless who were Mr. Devlin's here the time was various yesterday given minutes to trying of to are bilities of their time and Mr. to this Histed devoted assets. Mr. is long lin's task holdin of also were being effort. traced. His liacoal include properties one. His finding all of so them great that Dev- the banks mines. railroads and establishments are lin diversified in complication lawyer scattered last through night real several that mercantile the states. Devtory trouble was the most involved years. Mr. covered Devlin's any and that variety -both has as of arisen to interests widely terri- in ated panies. by His him under holdings were operToluca Mount Carmel coal principal coal twenty-six mines. holdings were: commines. The The The Devlin Marquette Coal mines third company. vein The Devlin-Miller pany. Crawford County Coal Mining company. company. The The Pittsburg and Midway comcompany The Kansas City Coal and Coke Coal The The Southwestern Wiley Marceline Coal Coal company. mmany. Fuel It was Blitz reported Not Companya Embarrassed. I. that given and bank. bill M. of sale Blitz, to the in the jeweler. a morning had paper entirely taken possession incorrect that the of bank his First receiver National had bank a bill are of that Mr. need cover the The any facts advances sale stock. for Blitz $7.000 This gave start from a new the store. bank of as money he might was recorded that the bill of The sale understanding expected and receiver bill of sale simply and it found is supposed the should that not the be recorded. agreement. sent the not knowing unrecorded of the cent. Mr. Blitz does document to be due. as The none of not his owe the bank gate. has at and the he amount bank is small of notes in there which are to take No everything states up that notes he sprepared the was who Kansas City, Run at July Kansas City. comes due. coal several mine interests one operators of the in 4.-C. most the J. extensive Devlin, local but there banks was have in some Kansas of his west, City held and at here Topeka. today over no the apparent failure of excitement paper management all liabilities properties of expressed his 26 that The with belief good generally was his bank would Charles be paid S. Gleed. in full. a Central director National bank attorney for the Santa Fe road, in the Atchison Topeka and his Devlin's affairs is whose knowledge Topeka litles would run belief that intimate gave of lions of between six and his estate four was worth anywhere millions of from dollars liabilities 2 1/2 and millions it s le affairs known great pacity to who as dollars. an worker rarely Chas. if of tremendous J. Devlin seven mil. was d memory been overtaxed. extent which assistant at on last his appears to have remarkable He trusted relied to a his of in the Jacques How Kelly Morgan, Secured Bond. switch. he happens Kansas After to City be in Journal, the Kansas tells City, Guaranthe city Morgan with the leaving proceeded his and Devlin to job an open with


Article from The Topeka State Journal, July 20, 1905

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Article Text

# ARE SENT BACK. First National Bank Securities Returned Today. They Amount to Over $150,- 000. # BENEFITS DEPOSITORS Mr. Jobes at First Refused to Give Them Up. Increasing Assets Available for Their Use. The securities of the First National bank representing upwards of $150,000, which C. S. Jobes of the American National bank held to cover a loan of $50,000 given at the time of the rush on Monday, July 3, and which was never used but returned, have been sent back to Receiver Bradley of the First National. Jobes for a time refused to give up possession of these securities though the specie which he had sent and for which the securities had been given was returned. He held them to cover an overdraft of $263,000 which Devlin had at the American National. For a time it was thought that legal proceedings would have to be resorted to before the securities could be recovered but upon repeated representations on the part of Receiver Bradley, Jobes was finally induced to make a return. These securities are gilt edged in every respect and represent some of the best paper that the bank held. "Is the amount $150,000?" was asked. "It's more than that," replied Mr. Bradley. "It's under the $200,000 mark," he continued. The exact amount he would not give in accordance with the instructions which he has from the comptroller not to give out the amount that the assets or liabilities of the bank may assume. "We are realizing upon our securities right along. We are disposing of them as fast as we can and are sending the money realized on to the comptroller at Washington. We have not had to discount any of our paper as yet. We cannot do so until we have decided for us in the court upon what basis we shall settle. Of course in some instances we will have to settle upon the best terms that we can make, But thus far we have not had to discount any of the notes," said Mr. Bradley. Receiver Bradley claimed that the failure of the City National bank at Kansas City would not interfere in any extent whatever with any progress which the First National bank might make. The hypothecated securities which were sent down to Kansas City for sale and for the realization upon them of advances have been returned. In a few instances the securities were sold and the money paid over to the bank but in the main, like the instance with Jobes, they have been secured back and they will be placed in the market as the judgment of those in charge of the bank warrants. The return of these securities cannot but help brighten the situation for the depositors as it increases the amount of the assets which will become available for settlement.


Article from The Topeka State Journal, January 4, 1906

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MR. GLEED EXPLAINS IT. Tells Why He Voted for Dr. Woods for a Devlin Trustee, In a Kansas City paper Cyrus Leland enters a denial of his statements concerning the obstruction of the trustees of the Devlin properties. Mr. Leland evidently did not consider how his statements would look in print. Concerning Mr. Leland's charges, Mr. J. W. Gleed said today: "Neither myself nor the firm with which I am connected have had anything to do with this Devlin matter, so far as the receivers are concerned, except that I voted for Dr. Woods as receiver for the Marceline and Kansas Coal & Coke companies. That is, I voted the Central National bank for Dr. Woods. I suppose that Mr. Leland is dissatisfied because he did not get all of these receiverships. "I voted for Dr. Woods because at the time of the run on the First National, when there was a run on the Central and all the banks, Dr. Woods, who is president of the National Bank of Commerce, called us up and told us that he would let us have the money needed to pay all demands; enough to pay every depositor, if necessary. When he asked to be named as receiver for the Marceline and Kansas


Article from Deseret Evening News, September 19, 1906

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DEVLIN DIVIDEND Kansas City, Sept. 19.-A 12 1/2 per cent dividend has been declared by J. T. Bradley, receiver of the First Na. tional bank. in the C. J. Devlin case, to be paid next Saturday. The dividend simply awaits an order from the U. S. district court. The money amounts to $208,000. and arrived today. This is the first dividend since Christmas.


Article from The San Francisco Call, September 20, 1906

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DIVIDED IN DEVLIN CASE. KANSAS CITY, Mo., Sept. 19.-A 12 1/2 per cent dividend has been declared by J. T. Bradley, receiver of the First National Bank, in the C. J. Devlin case, to be paid next Saturday. Payment of the dividend simply awaits an order from the United States District Court. The money amounts to $208,000 and arrived today. This is the first. dividend since Christmas.