Merchants National Bank - Kansas City, MO

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 2440
Charter Number: 2440
Start Date: May 16, 1884
Location: Kansas City, Missouri (39.100, -94.579)

Metadata

Model: gpt-5-mini
Short Digest: b3381fbb

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Article (St. Louis, May 16) reports a run in Kansas City connected to failures of their New York correspondent (Donnell, Lawson & Simpson). Merchants' National Bank issued certified checks to creditors but is not described as suspending or closing.

Events (3)

1. December 2, 1879 Chartered

Source: historical_nic

2. May 16, 1884 Run

Cause: Correspondent
Cause Details: Run triggered by failure of their New York correspondent (Donnell, Lawson & Simpson) and wider New York failures.
Measures: Issued certified checks to creditors (certified checks to meet withdrawals).
Newspaper Excerpt: There was a run on the bank early in the morning which resulted in a panic among the depositors. The Merchants' National bank also issued certified checks to creditors.
Source: newspapers

3. December 22, 1891 Voluntary Liquidation

Source: historical_nic

Newspaper Articles (1)

1. May 21, 1884 Morris Tribune Morris, MN

Article from Morris Tribune, May 21, 1884

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Article Text

Money Matters at Other Points. ST. LOUIS, May 16.-The Bank of Kansas City closed its doors Thursday. It had a capital of $600,000, and was the last to fall in the great panic of 1873. President Chick states that is due to the failure of Donnell, Lawson & Simpson, their New York correspondent. The bank had a surpius of $106,688, and after a meeting of the directors it was announced that the bank would pay 20 per cent. cash and the ba anein certified checks. The amount of deposits is figured at $2,000,000. There was a run on the bank early in the morning which resulted in a panic among the depositors. The Merchants' National bank also issued certified checks to creditors. The Bank of Commerce was forced to post a notice thae it would pay 20 per cent. cash, only. There were very painful scenes in the crowd of laborers and small depositors that surrounded the Bank of Kansas City, and many women were observed in tears. There is no evidence of any trouble in the other banks of the city, and nearly all of the present institut tions passed through the panic of 1873 with flying colors. QUINCY, III., May 16.-The Union bank, of this city failed to open its doors Thursday morning. When the Marine bank of New York failed, the Union bank transferred its account to the Metropolitan and the closing of the doors of that bank Wednesday are given as the cause of the suspension. NEW LONDON, Conn., May 16.-The losses here by the New York failures will probably amount to between $100,000 and $200,000. NORWICH, Conn., May 16.-The losses by the New York failures on margins here will be all of $250,000. CHICAGO, May 16.-The feeling on 'change here is that, while our markets are becoming more and more affected by what occurs on Wall street, there is not much danger of any similar trouble here. For years the banks have not been in such a good condition as at present. If a panic had been anticipated better preparations could hardly have been made for it. It was remarked by a gentleman well posted on financial affairs that it seemed as though the banks had kept their money all at home to meet just such an emergency. LONDON, May 16.-The fresh failures in New York have had very little effect on the stock market. American securities are in some instances higher than the best figures Thursday, and some American securities are at or within a fraction of Thursday's closing prices. BRADFORD, Pa., May 16.-The failure of the Tuna Valley bank has been followed by the collapse of the Exchange bank. Great excitement exists, and the streets are filled with people. The situation is panicky. The failures of Jefferson & Varney and G.H. Brooks, oil brokers, are also announced, and others are anticipated. PITTSBURG, May 16.-2 p. m.-For fear the banks may throw immense blocks of oil on the market and precipitate a crash, oil brokers will buy nothing, thus forcing the banks to carry on their own affairs.