10363. Missouri National Bank (Kansas City, MO)

View Charter #4494 on SPMC

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
4494
Charter Number
4494
Start Date
July 15, 1893
Location
Kansas City, Missouri (39.100, -94.579)

Metadata

Model
gpt-5-mini
Short Digest
23b12f75

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Capital injected, Full suspension, Books examined

Other: Comptroller of the Currency took possession at suspension; later bank resumed operations after two weeks; Eastern assistance was promised but arrived too late.

Receivership Details

Depositor recovery rate
74.0%
Date receivership started
1896-12-03
Date receivership terminated
1902-06-23
OCC cause of failure
Losses
Share of assets assessed as good
35.7%
Share of assets assessed as doubtful
50.5%
Share of assets assessed as worthless
13.8%

Description

A run on Kansas City banks began after the failure of the Bank of Kansas City (July 15, 1893). The Missouri National experienced withdrawals during that run, was taken possession of by the Comptroller and suspended on July 17, 1893, and subsequently resumed business July 31, 1893. Cause of the initial run is tied to failures/rumors about other local banks (local_banks) and general panic; officers stated depositors would be paid and later reopened.

Events (5)
1. December 30, 1890 Chartered
Source
historical_nic
2. July 15, 1893 Run
Cause
Local Banks
Cause Details
Run was precipitated by the failure of the Bank of Kansas City and general panic/runs on other Kansas City banks; heavy withdrawals on July 15 following that failure.
Measures
Paid out funds rapidly (multiple paying tellers at work); officers published statements and sought aid from correspondents (assistance from New York was reported but arrived too late).
Newspaper Excerpt
The failure of the Bank of Kansas City yesterday precipitated runs on three-fourths of the large banks in the city ... At 10 o'clock there were two long double rows of depositors in the Metropolitan and Missouri National Banks.
Source
newspapers
3. July 17, 1893 Suspension
Cause
Local Banks
Cause Details
Heavy withdrawals following the earlier runs (precipitated by other bank failures and the local panic) made continuation impossible; comptroller took possession and bank closed to payments on July 17, 1893.
Newspaper Excerpt
The Missouri National Bank suspended payment and closed its doors at 11:45 o'clock this morning. The bank was taken possession of by the comptroller of currency shortly before noon today.
Source
newspapers
4. July 31, 1893 Reopening
Newspaper Excerpt
The Missouri National bank resumed business this morning, having fully recovered from the effects of the senseless panic which caused its suspension two weeks ago.
Source
newspapers
5. December 3, 1896 Receivership
Source
historical_nic

Newspaper Articles (24)
1. July 16, 1893 The Times Richmond, VA
Article from The Times, July 16, 1893

Click image to open full size in new tab

Article Text

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.

2. July 16, 1893 The Morning News Savannah, GA
Article from The Morning News, July 16, 1893

Click image to open full size in new tab

Article Text

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.

3. July 17, 1893 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, July 17, 1893

Click image to open full size in new tab

Article Text

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.

4. July 17, 1893 Alexandria Gazette Alexandria, VA
Article from Alexandria Gazette, July 17, 1893

Click image to open full size in new tab

Article Text

TELEGRAPHIC BREVITIES. Thos. Walsh, president of the University of Notra Dame, South Bend, Ind., died there to-day. The President left Gray Gables today for a cruise. It is possible he may be bound for New York. Fannie Post, an attractive young lady of Schuyler, Neb., is thought to be held a prisoner by tramps on an island in the Platte river. Two persons were killed and four seriously injured last night by the premature explosion of a fireworks bomb at an Italian picnic near Chicago. Frank Beebe, a son of J. Arthur Beebe, member of the Boston family of millionaires, was drowned in Buzzards Bay last night by the capsizing of his boat. A disease over which the doctors are in dispute, has raged with considerable violence in Anaconda, Mont., for the last ten weeks. It is alternately called black measels and black smallpox. Admiral Wadenkolk is a prisoner and is now on his way to Rio Janeiro under a heavy guard. He has been declared to be a traitor and will no doubt be executed without much ceremony. Anna Witkower, who was until last Sunday a chambermaid at the Palmer House in Chicago, is baroness Sohlbern, wife of of a millionaire Austrian nobleman. The couple were married on Saturday. A posse has been searching since Saturday night in and around Brierfield, Ala., for a negro who, it is reported, shot and killed two women. The belief is general that the negro was last night captured and lynched. William Baxter, of Holden, Mass., was found murdered in a cow pasture yesterday afternoon. The skull was fractured in two places. A hatchet was found near the body and a long handled axe was at the side of the dead man. Goveronor Altgeld, of Illinois, is preparing, according to a statement made by a friend, an exhaustive review of the anarchist case which will be a genuine "roast" for those who secured their conviction. He will reaffirm that the men were bribed by a prejudiced judge and by a jury selected to convict. John Meyers escaped from the State hospital for the insane in Utica, N. Y., this morning and proceeding to his wife's home, murderously assaulted her with a club. Her screams attracted the attention of a neighbor who bravely tackled Meyers and the wife escaped. Meyers then rushed back into the house and cut his throat with 8 razor. It is not believed that the injuries of either will prove fatal. A young girl who was employed as a domestic at a boarding house and George B. Frame, a border at the same place, were struck by a train on the Rome, Watertown and Ogdensburg railroad while they were attempting to cross a railroad bridge on the outskirts of Watertown, N. Y., last night. The girl's body was mangled horriby and the man's skull was crushed. Both died immediately. The five-mile road race of the Calumet Cycling Club at Chicago Saturday afternoon resulted in breaking the American road record for the distance. A. L. Leonhardt did the trick in 13:30, beating the former record by eight seconds. The People's Savings, the Rocky Mountain Dime and Dollar and the Colorado Savings Banks at Denver, failed to open their doors for business this morning. The Bank of Grand Avenue and the Missouri National Bank at Kansas City suspended -day. The Duplex Company of New York assigned to-day.

5. July 17, 1893 The Waco Evening News Waco, TX
Article from The Waco Evening News, July 17, 1893

Click image to open full size in new tab

Article Text

KANSAS CITY BANKS. Grand Avenue and Missouri National Banks Close. By Associated Press to The News. KANSAS CITY. July 17.-The Missouri National Bank suspended payment and closed its doors at 11:45 o'clock this morning. The Grand Avenue Bank, a private instiution, assigned this morning to James B. Pinchel, who im mediately took charge. The assets are $600,000 and liabilities *140,000 The Grand Avenue holds ample gilt edge securities to meet obligations, it is claimed by the of ticials, and they all easy that they expect to resume business shortly. It was rumored Saturday that this bank had closed, but it appears the officials secured money sufficient to tide them over till today. When it was opened none of the securities could be real. ized on, account of the scarcity of money. Confidence in the ability of the bank to pay dollar for dollar is expressed by other banks and no excitement over the tempo. rary closing is manifested. A. Lambert is presidont; II. S. Tunbenach, vice-president, and H. C. Lambert, cashier, of the Grand Avenue bank. It was despite the assertions of strength and the publishing of fav orable statements Saturday that the Missouri National bank was taken possession of by the comptroller of currency shortly before noon today. The bank was immediately closed as tight as a clam, and it was impossible to get a statement from the officers. The Missouri National is a new bank, having opened in January, 1891 Its capital stock paid in is *250,000, and its surplus is $6000, according to the statements Saturday, made in compilance with the request of the comptroller of the currency. The cash and sight exchange were placed at $271,024, and the deposits at $900,163 The officers are D. V. Ryger, president; Henry C. Kaupau, vice president; D. R. Connington, cashier.

6. July 18, 1893 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, July 18, 1893

Click image to open full size in new tab

Article Text

PEOPLE AND PLACES. SOUTH BEND. Ind., July 17. - - Rev. Thomas F. Walsh. president of the Notre Dame university, died this morning. PHILADELPHIA, Pa., July 17. -John J. McConnell, a cotton manufacturer. has assigned. The liabilities are $200,000. The assets will exceed $100,000. CHICAGO, July 17.-- Joseph Midoc of Little Rock. Ark.. was fumbling about in Louis Dillon's room at 4 o'clock this morning. Dillon, waking suddenly, drew a revolver and shot Midoc dead. WASHINGTON. July 17.-The treasury today purchased 80,000 ounces of silver as follows: 50,000 at $0.734: 30,000 at $0.73 4-5. Offers were 738,000 ounces. The total amount of silver purchased to date for July is 948,000 ounces. SANTA ROSA. Cal., July 17.-A photograph of the new comet shows the interesting fact that another comet is enveloped in the tail of the first one. Its tail, also merging in another one, appears to move in the same orbit, or one exactly parallel and at the same rate of speed. BIRMINGHAM, Ala., July 17. A posse has been searching since Saturday night near Brierfiled. for a negro charged with the assault, robbery and murder of two women. He retreated into a swamp which was surrounded last night, and it is believed he will be captured and lynched. CHICAGO, July 17.-By unanimous vote the national commission indefinitely postponed action in the White-Webster contest for a scat in the commission from New Mexico. By this action Mr. White, who was removed by the governor of New Mexico and the removal confirmed by President Cleveland, will retain his seat. The commission further instructed the secretary to notify the secretary of state of the action taken. KANSAS CITY, July 17.-The comptroller of the currency took possession of the Missouri National bank at noon. No statement. It has a paid up capital of a quarter of a million. According to the statement to the comptroller on Saturday it had a cash and sight exchange of $271,000: deposited $900,763. The Grand Avenue bank suspended this morning. Assets. $200,000: liabilities. $140.000. It is expected to resume shortly. It is not doubted among bankers that it will pay dollar for dollar. DENVER, July 17.-The - People's Savings bank. the Rocky Mountain Dime and Dollar bank and the Colorado Savings bank did not open their doors this morning. The assets of the People's bank is $1.500,000; liabilities, $1,350,000. President Lawrence says the failure will in no way affect the People's National. The Colorado Savings bank statement shows deposits $486,000, with assets $730.60 in excess of liabilities. The assets of the Rocky Mountain Dime and Dollar Savings bank is $156,803: liabilities, $105,654. The officers of all three say the debts will be paid in full. It is understood all assignments were preconcerted for self-protection and the protection of depositors.

7. July 18, 1893 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, July 18, 1893

Click image to open full size in new tab

Article Text

Telegraphic Brevities. The Bank of Grand Avenue and the Missouri National Bank. Kansas City, suspended payment at noon yesterday. The Comptroller of the Currency has been informed that the First National Bank of Cedartown, Ga., closed its doors yesterday. Mrs. T. H. Stevens, wife of Rear-Admiral Stevens, retired. died yesterday near Silver Spring, Md., where she had gone for the summer. The Federal Treasury Department yesterday purchased 50,000 ounces of silver at .7340a7345. The total purchases for the month are 948,000 ounces. The Emperor William has extended to Colonel Keim. chief of Chancellor von Caprivi's Special Bureau, special thanks for his efforts to secure the passage of the army bill. J. H. Hathaway, of Philadelphia, was yesterday awarded the contract at $13,995 for constructing a kitchen, laundry, wharf. etc. at the Cape Charles quarantine station. The court-martial appointed to try the surviving officers of the Victoria, sunk in collision with the Camperdown, was opened yesterday at Valetta, Malta, upon the Hibernia, the flag-ship of RearAdmiral Richard E. Tracey. A negro named Odem has been arrested at Boston, Ga., charged with burning the Savannah, Florida and Western trestle over the Aucilla river Saturday night. Several attempts to wreck trains have been made on this road within the past two weeks by placing cross-ties on the track, but none of them were successful. A special from Topeka, Kan., says: State-Bank Examiner Breddenthal says Hood & Cincard's bank, at Pleasanton, Kan., has failed, and is in the hands of Deputy-State-Bank-Commissioner Osborne. The capital stock IS $80,000. Commissioner Breddenthal has information of a number of other bank failures in Kansas, but be declines to give the names until he has taken possession.

8. July 18, 1893 The Morning News Savannah, GA
Article from The Morning News, July 18, 1893

Click image to open full size in new tab

Article Text

Two Kansas City Banks Fail. Kansas City, Mo., July 17.-The Bank of Grand Avenue and the Missouri National bank suspended payment at noon to-day.

9. July 18, 1893 Wheeling Register Wheeling, WV
Article from Wheeling Register, July 18, 1893

Click image to open full size in new tab

Article Text

CONCERNING BUSINESS AND FINANCE. -KANSAS CITY, KAS., July 17.-The Missouri National Bank suspendended payand closed its doors at 11:45 o'clock The a this ment morning. Grand Avenue this morning Bank, private institution, assigned to James B. Rickett, who immediately took charge. The assets are placed at $200,000 and the liabilities at $140,000. The Grand Avenue Bank holds ample securities to it is expect to resume It was rumored cials meet shortly. say obligations, they claimed, Saturday and business the that offithis bank had closed, but it appears the of ficials secured money sufficient to tide them over till to-day, when it was hoped of their securities could be realized of the money, this was some on. however, On account impossible. bank scarcity Confidence of dollar for in the ability of the to pay dollar is expressed by other bankers here, excitement over is manifested. A and pension no the Lambert temporary is Pres- susident, H. Stubenrauch, Vice President, and E. C. Lambert, Cashier of the Grand Avenue Bank. KANSAS CITY, Mo., July 17.-It was despite assertions of strength and the publiahing of a favorable statement Saturday that the Eissouri national bank was taken possession of by the comptroller of the currency shortly before noon to-day. The bank was immediately closed as tight as a clam and it was impossible to get a statement from officers. The Missouri National is a new bank having opened in January, 1891. It has a capital stock paid in of $250,000 and its surplus is $6,000. According to the statement Saturday issued in compliance with the request of the comptroller of the currency cash and sight exchange were placed at $271,024, and the deposits at $900,763. The officers are D. V. Reiger, president; Henry C. Kaupf, vice president; R. D. Covington, cashier. PORTLAND, IND., July 17. -The report in yesterday's dailies that R. H. Horne, produce merchant, of Union City, had failed There is simply a disputed the company a is account a mistake. between and branch- New York firm. The company has eight es, one of the largest of which is located here. and has $170,000 of capital. NEW YORK: July 17.-Five hundred thousand ounces of silver and 100,000 Mexican dollars will go to Europe on the Spree to-morrow. WASHINGTON, D. C., July 17.-The Treasto-day purchased 80,000 as ury ounces Department of silver follows: 50,000 at $0.7340: 30,000 at $0.7345. The offers were 738,000 ounces. The total amount of silver purchased up to date for July is 948,000 ounces. SOUTHAMPTON, July 17.-The North German Lloyd steamer Ems, Captain Reimkastien, from Bremen which sailed hence at 6 o'clock vesterday afternoon for New York has on board $210,000 in gold, NEW YORK, July 17.-The Duplex Street Railway Track Company, a West Virginia corporation, operating a patent for a street with an railway track, office John at D. 51 Elwell, Wall street, today assigned to without preferences. Liabilitiet. $150,000. WASHINGTON, July 17.-The Comptroller of the Currency has been informed that the First National Bank of Codartown, Ga., closed its doors to-day. TOPEKA. KAS., July 17.-State Bank Examiner Breidenthal says the Hood & Kincaid Bank, of Pleasanton, Kansas, has

10. July 18, 1893 The Sun New York, NY
Article from The Sun, July 18, 1893

Click image to open full size in new tab

Article Text

TWO MORE KANSAS CITY BANKS FAIL. The Missouri National Had Aid Coming on the Way From New York. KANSAS CITY. July 17.-This was another exciting day in Kansas City financial circles. Two banks failed. making the total number of failures Reven. The Missouri National Bank suspended payment. and closed its doors at 11:45 o'clock this morning. Despite assertions of strength and the publishing of a favorable statement Saturday. the bank was taken possession of by the Comptroller of the Currency to-day. President D. V. Rieger was overcome with grief and he covered his face with his hands. and. with tears in his eyes, said: "Here is the work of seventeen years shattered. have done all I can: we all did all we could. but we could not help it. They drew out. and drew out. and it seemed as if they would never stop until they had taken every cent we had. The Third National Bank of New York wired us to draw on them for any sum. but we could not get money here in time to do us any good. Our statement published last week shows our condition to-day. excepting that more than one-half of the deposits of the bank have been withdrawn by depositors since that time. The officers show the assets to be $1,254,785. and the liabilities, excepting carital stock, about $700,000. July 1 the bank paid its regillar annual dividend of 3 per cent. The omcers declare that depositors will be paid dollar for dollar. The Missouri National is a new bank. having opened in January. 1891. It has a capital stock paid in of $250,000. and its surplus is $6,000. According to the statement made Saturday. issued in compliance with the request of the Comptroller of the Currency. cash and sight exchange were placed at $271.024, and the deposits at $900,773. The Grand Avenue Bank. a private institution. assigned this morning to James B. Rickel. who immediately took charge. The Assets are placed at $200,000 and the liabilities at $140,000. The Grand Avenue Bank holds ample gilt-edged securities to meet obligations. it is claimed. and the officials say they expect to resume business shortly. There WAS no well-defined run on any of the other national banks this morning. although some deposits were drawn out.

11. July 18, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, July 18, 1893

Click image to open full size in new tab

Article Text

Kansas City Banks. KANSAS CITY, Mo., July 17.-The Missouri National bank suspended payment and closed its doors at 11:45 o'clock this morning The Grand Avenue bank, a private : institution, assigned this morning to James B. Pinchel. who immediately took charge. Assets are $600,000, ml liabilities $140,000. The Grand Avenue holds ample gilt-edge securities to meet obligations, it is claimed by the officials, and they say that they expect to resume business shortly. It was rumored Saturday that this bank had closed, but it appears the officials secured money sufficient to take them over until today. When it was opened none of the securities could be realized on on account of the scarcity of money. Confidence in the ability of the bank to pay dollar for dollar is expressed by other bankers here. and no excitement over the temporary closing is manifested. A. Launbert is president, H. S. Tubenac vicepresident, and H. C. Lambert cashier of the Grand Avenue bank. It was despite the assertions of strength and the publishing of favorable statement Saturday that the Missouri National bank was taken possession of by the comptroller of currency shortly before noon today. The bank was immediately closed as tight as clam and it was im possible to get a statement from the officers. The Missouri National is a new bank, having opened in January, 1891. It has capital stock paid in of a quarter of a million, and its suri lus is $60,000, according to the statement Saturday. made in compliance with a request of the comptroller of currency. Cash and sight exchange were placed at $271.024. and deposits at $900,163. The officers are D. V. Ryger, president; Henry C. Kanpan. vice-president: D. R. Coming. ton. cashier. Officers state the assets are $1.254.785; liabilities. excepting capital stock. about $700,000. There was no well defined run on any of the other national banks this morning. although some deposits were drawn out.

12. July 18, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, July 18, 1893

Click image to open full size in new tab

Article Text

Kaxeas City Banks Suspond. KANSAS CITY, July 17.-The Missouri National Lank suspended at noon today. Assistance was on the way from New York, bu: did not arrive in time. Depositors will be paid. The Bank of Grand Avenue, s small private institution, has assigned.

13. July 18, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, July 18, 1893

Click image to open full size in new tab

Article Text

TWO KANSAS CITY BANKS SUCCUMB. The Missouri National and the Grand Avenue Bank Suspend. KANSAS CITY, July 17.-The Missouri National bank suspended payment just before noon. The comptroller of the currency took possession at noon. The bank has a paid up capital of $250,000. According to the statement of the comptroller Saturday, it had cash and sight exchange of $250,000; deposits, $900,763. A later statement by the officers shows: Assets, $1,254,785; liabilities, $700,000. Assistance was on its way from the east, but did not arrive in time, as the depositors were making heavy drafts on the bank. The officers declare depositors will be paid in full. The Grand Avenue bank, a private institution, suspended this morning; assets, $200,000; liabilities, $140,000. It is expected that it will resume shortly. It is not doubted among bankers that it will pay dollar for dollar. There was no general run on any of the other national banks, although some deposits were drawn out. This evening they were given as follows: Bank of Riter & Doubleday, of Columbus: Johnson City bank of Johnson City Bank of Weir City; Caney Vally bank of Caney; and Bank of Meade at Meade center. It is impossible to obtain a statement tonight.

14. July 18, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, July 18, 1893

Click image to open full size in new tab

Article Text

BUSINESS TROUBLES. Two Kansas City Banks Close Their Doors-A Denver CrashOther Failures. KANSAS CITY, Mo., July 17.-Despite assertions of strength and the publishing of a favorable statement Saturday, the Missouri National bank was taken possession of by the comptroller of the currency shortly before noon today. The officers state the assets to be $1,254,785 and tue liabilities, exceptin g capital stock, about $700,000. During the run on the different national banks here Saturday quite a run was precipitated upon the Missouri National, though the withdrawals were alone

15. July 19, 1893 New-York Tribune New York, NY
Article from New-York Tribune, July 19, 1893

Click image to open full size in new tab

Article Text

eastern Kansas. It had a capital stock of $300,000 fully paid in, and has always stood all runs. A run on the People's Savings Bank was started, but the thirty day law was taken advantage of, and the bank was saved from being swamped. Topeka, Kan., July 18.-State Bank Examiner Breidenthal this morning received notice of the fail. ures of the Citizens' Bank of Kansas City, Kan.; of the Bank of Richmond, and of the Farmers' and Merchants' Bank. at Ossawattomie. The concerns all did a small business. Statements are unobtainable. The opinion Is expressed that other institutions throughout the State will soon go under. Toledo, July 18.-The Citizens' Bank of Ada, the most prominent one in Hardin County, failed to open its doors this morning. Its owner, Peter Ablfield, has controlled it for over a quarter of a century, and is one of the wealthiest men of that section. No statement of assets and liabilities, or the cause of failure, can be obtained. Anacortes, Wash.. July 18.-The Bank of Anacortes failed to open its doors yesterday, owing to inability to realize on securities. The liabilities are $29,000 and the assets, $78,000. Depositors will be paid in full. Kansas City, July 18.-Although last night the bankers of Kansas City did not expect to get through to-day without trouble. none came: and the impresston prevails that to-day marked the beginning of the end of the recent financial flurry. There is evidence to-day that the people have stopped to think. It is a notable fact that no man who had money in the bank of Kansas City or the Missouri National has the slightest doubt of getting every cent of it. The banks in Kansas City which have failed are the National Bank of Kansas City. the Missouri National Bank. the Kansas City Safe Deposit and Savings Bank. and the Bank of Grand Avenue, the latter being a State bank. Armourdale, Kan July 18.-The Citizens' Bank sugpended payment to day with assets of $151.000 and liabilities of $126,500. State Bank Commissioner Breiden that took possession of the bank. Among the heavy creditors of the bank is the county of Wyandotto, which had on deposit some $40,000 of its funds.

16. July 19, 1893 Watertown Republican Watertown, WI
Article from Watertown Republican, July 19, 1893

Click image to open full size in new tab

Article Text

a The Colorado Metropolis Experiences Severe Financial Blow. DENVER, €ol., July 17.-The first bank failure in Denver since 1874 occurred this when the People's Savthe Colorado ings morning, Bank, Savings Dime Bank and and the Rocky Mountain Dollar Savings Bank closed their doors. An estimate of the assets are $1,500,000 with liabilities at $1,350,000. The Colorado Savings Bank, of which F. K. Atkins is president and C. Atkins cashier, in their statement to the assignee, Frederick Butters, place the open accounts due depositors at $435,108.54; certificates of deposit, $50,699.36; due other banks, $3,236.95; cashier's checks, $625. Their assets over liabilities in what is declared to be good commercial paper, well secured, is $73,063.72. F. W. Woodbury is president and G. F. Clark cashier of the Rocky Mountain and Dollar Savings Bank, of Charles H. was made assignee. morning which Dime Blakeny A detailed this statement has not vet been made, but from the books of the institution it would appear that the assets are $156,803.53 and the liabilities $105,654.32. The officers of the institution positively assert that the depositors will not lose a dollar. It is understood that all the assignments were preconcerted and was done for self-protection and for the protection of the depositors. The direct cause of the failures was the universal hard times and inability to realize on securities. President Lawrence, of the People's Savings Bank, in a statement this morning, said the savings bank up to six weeks had a most career, in $1,300,000 its depositors in paid having to ago deposit successful interest and $112,- had 482. The causeless run which started May 23 and really continued up to last when the entire available the bank were was left but to Saturday means nothing of night exhausted assign. their The and officers of the institution pledged estates to its support, but the feeling that has been engendered among Eastern banks and financial institutions by the recently published expressions and demonstrations that have been heralded from Colorado that a thirty-day note for $100,000 or $1,000 signed by Colorado parties worth $4,000,000 to raise immediate money was not worth the paper it was written upon. Most persistent efforts were made to obtain temporary assistance to tide the bank over and up to four days ago, this necessary assistance was promised by Eastern correspondent banks, but since the doings of the recent convention in this city became known all over the country these promises were cancelled by telegraph and no alternative was left with notices amounting to nearly $500,000 for withdrawals of deposits maturing within the near future staring the banks in the the cash on hand paid down to make a full and the $223-but face protection and to benefit assignment of will all. in The for failure in the Savings Bank no way affect the People's National Bank which, with all other national banks, is perfectly sound, and there is no trouble outside the savings bank. Arunon the Denver Savings Bank is impending. The bank is taking advantage of the thirty and sixty days' notfication law and is paying out no amounts over $25. KANSAS CITY, Mo., July 17.-Despite assertions of strength and the publishing of a favorable statement Saturday, the Missouri National Bank was taken possession of by the comptroller of the currency shortly before noon to-day. The bank was immediately closed as tight as a clam and it was impossible to get a statement from the officers. The Missouri National is a new bank, having opened in January, 1891. It has a capital stock, paid in, of $250,000, and its surplus is $6,000. According to their statement Saturday issued in compliance with the request of the comptroller of currency, cash and sight exchange were placed at $271,024, and the deposits at $900,763. The officers are D. V. Rieger, president; Henry C. Kumpf, vice-president; R. D. Covington, cashier. The officers show the assets to be $1,154,785 and the liabilities, excepting capital stock about $700,000. During the run on the different national banks here Saturday, quite a run was precipitated upon the Missouri National, though the withdrawals were alone made by the small depositors. This morning, however, several large depositors withdrew their money, and the amounts, running well up into the thousands, made further continuance impossible. For a while slight confidence was restored by Ferd. Heim, a local brewer, deposition $32,000 in the concern, at this soon lost its effect for good. Aid had beenasked from the Third National Bank of New York and the assistance was on the On 1 the the annual per regular way. City July dividend of bank 3 paid cent. The official declared that depositors

17. July 19, 1893 New Ulm Review New Ulm, MN
Article from New Ulm Review, July 19, 1893

Click image to open full size in new tab

Article Text

AT KANSAS CITY. Two Banks Forced to Suspend Pay. ment-More Trouble Likely. KANSAS CITY, July 18.- - The Bank of Grand avenue and the Missouri National bank suspended payment at noon. When the Bank of Grand Avenue opened its doors for business a long line of depositors had formed on the side. walks and as soon as the paying teller appeared at the window began drawing out their money. The run kept up until nearly noon, when the bank was forced to assign to John James Ruckel. The assets are stated to be $200,000. The bank c. ared through the National Bank of Kansas City, and, it is alleged, lost considerable money in that institution. The Missouri National bank was one of those which stood a heavy run Saturday. It had a paid up capital of a quarter of a million dollars and was a new institution. It had been deemed solid. though its statement issued at the close of business July 13 showed only $221,225 as a reserve against over $900,000 deposits. D. V. Reiger was the bank's president and Henry C. Kumpf, ex-mayor, vice president. The failures will probably precipitate more trouble here.

18. August 1, 1893 The Durham Daily Globe Durham, NC
Article from The Durham Daily Globe, August 1, 1893

Click image to open full size in new tab

Article Text

11--4277, Washington National bank, Spokane Falls, Wash. 12-4486, National Bank of Commerce, Provo City, Utah. 13-4134, First National bank, Cisco, Tex. 14-4494, Missouri National bank, Kansas City, Mo. Many more will reopen, as the majority of those recently failed are absolutely solvent and only closed through an un- warranted lack of confidence in them, causing disastrous runs. To resume: Number now in operation, 3785; number failed since January 1, 1893, 105; number reopened, 14; number in hands of receiver, 33; number in hands of bank examiners with application to comptroller for resumption, 58.

19. August 1, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, August 1, 1893

Click image to open full size in new tab

Article Text

A Kansas City Bank Resumes, KANSAS CITY, July 31.-The Missouri National bank resumed business this morning, having fully recovered from the effects of the senseless panic which caused its suspension two weeks ago.

20. August 10, 1893 Iron County Register Ironton, MO
Article from Iron County Register, August 10, 1893

Click image to open full size in new tab

Article Text

MISSOURI STATE NEWS. New Postmasters. The following new postmasters of the fourth class have been appointed for Missouri: Cobb, St. Clair. county. Mary S. Fletcher, vice J. H. Fletcher, resigned. Japan. Franklin county. J. M. Renick, vice W. J. Renick. resigned. Akron. Harrison county, D. M. Greenwood, vice F. Poland, resigned. Coopershill. Osage county, J. F. Fleer, vice A. Langenberg, resigned. Pilot Grove. Cooper county, Annie C. Goode, vice Wm. Roberts. resigned. Toronto. Camden county. Lafayette Harrell, vice J. T. McClure. resigned. Belgrade. Washington county, J.T. Terril vice Linn Reffee, resigned. NEW POST OFFICES. Hoelscher. Lincoln county, Christian Hoel scher. postmaster. Ristine. New Madrid county, Chas. P. Cook. postmaster. Mr. Bland in Washington. WASHINGTON. Aug. 5. - Representatives Bland and De Armond. of Missouri. have arrived. Mr. Bland declines to make a statement as to the question whether he will accept the coinage committee chairmanship if it is tendered him. He simply declares he can not decline an honor that has not been tendered him. Mr. Crisp had not informed him what he intended to do, and he had not seen the speaker. WILL CHAMPION FREE COINAGE. Regarding silver. "I stand exactly where I have always stood." Mr. Bland said, for the free and unlimited coinage of the white metal. With such a law in force there would be an end of ills like the present." He is in favor of the repeal of the Sherman law of 1890. and goes further than that. He will favor the repeal of both the Sherman acts. that of 1873 as well as that of 1890. The silverites will take care of what is to take the place of existing lesislation. he says. For one thing he favors the re-enactment of the coinage law of 1837. which gave to the country the "dollar of our daddies:" but he will introduce a free-coinage bill at this session and champion in. whether he is chairman of the coinage committee or not. Resumed Business. The Missouri national bank of Kansas City has resumed business, having fully recovered from the effects of the senseless panie which caused its suspension. The close of the first day's business there was a net gain in deposits over and above all disbursements of $61,329.93. It is evident the failure of the bank was caused solely by the run made upon it by its depositors. An inspector had previously reported the institution solvent. PREPARING TO RESUME. The comptroiler of the currency has been notified that the bank which recently failed at Harrisonville, Mo., is taking steps to resume business. Convicts Escape. Four eonvicts, white men, escaped from the Missouri penitentiary the other day. Frank Emerson. Jackson county. burglary, 20 years: sentenced in 1888. Ed Burgess. Andrew county. burglary and larceny. 15 years; sentenced in 1890. Jas. E. Hudson. Jackson county, burglary, 10 years: sentenced in 1891. Wm. Taylor, Greene county, jail breaking. 2 years. They worked in the hospital as cooks and waiters. and slept in the building. They gained the hospital yard, mounted the wall with a ladder and let themselves down with a rope. A guard was eating lunch near by. What State Treasurer Stephens Says. State Treasurer Lon V. Stephens spent a day at Sedalia recently. During the past month he received anonymous letters criticising his action in accepting $210.000 worth of Equitable Investment Co. bonds from the Pettis County Investment Co. as security for the $100,000 deposit required by law. and his mission to Sedalia was to convince doubting Thomases that he did exactly what was right in the premises. "I endeavor to handle my department of the state business precisely the same as I would if it was my own individual affair." said Mr. Stephen. "and I am prepared to convince anyone that I have simply done my duty in the premises." Pardoned Out of Prison. Gov. Stone has pardoned John Hatfield, of Douglas county, sent to prison in 1892, for two years for grand larceny. Hatfield's offense was nothing more than killing a stray calf which he had posted. After waiting the proper length of time he butchered and sold it. and soon thereafter the owner appeared and demanded ten dollars. Hatfield offered four dollars. the amount for which he had sold it. A quarrel ensued and Hatfield was arrested, indicted an d convicted of larceny. Missouri at the Silver Convention. Gov. Stone appointed the following as delegates to the Chicago silver convention, regardless of polities:

21. August 10, 1893 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, August 10, 1893

Click image to open full size in new tab

Article Text

STRAY SPARKS. Charles C. Collins, an old time western newspaper man and formerly editor and proprietor of the Sioux City Times, is dead. In the National Tennis association tournament at Chicago yesterday Hovey defeated McCormick in singles, winning the Harvard championship. The building and stock of Buyer, Reich & Company, wholesale fancy goods, at San Francisco, was damaged to the amount of $100,000 by fire last night. The Missouri National bank of Kansa City resumed business yesterday morning having fully recovered from the effects of the senseless panic which caused its suspension two weeks ago. When the case of M. B. Curtis, the actor accused of the murder of Policeman Grant, was called in San Francisco yesterday, Curtis failed to appear. He is out on $50,000 bail and a bench warrant was issued for his arrest. Regret that they had participated in the disgraceful actions in the English house of commons last Thursday night was expressed by all the chief participants in the commons last night and Mr. Gladstone said he hoped the matter would De allowed to drop.

22. August 11, 1893 Iowa County Democrat Mineral Point, WI
Article from Iowa County Democrat, August 11, 1893

Click image to open full size in new tab

Article Text

STRAY SPARKS. Charles C. Collins, an old time westorn newspaper man and formerly editor and proprietor of the Sioux City Times, is dead. In the National Tennis association tournament at Chicago yesterday Hovey defeated McCormick in singles, winning the Harvard championship. The building and stock of Buyer, Reich & Company, wholesale fancy goods, at San Francisco, was damaged to the amount of $100,000 by fire last night. The Missouri National bank of Kansa City resumed business yesterday morning having fully recovered from the effects of the senseless panic which caused its suspension two weeks ago. When the case of M. B. Curtis, the actor accused of the murder of Policeman Grant, was called in San Francisco yesterday. Curtis failed to appear. He is out on $50,000 bail and a bench warrant was issued for his arrest. Regret that they had participated in the disgraceful actions in the English house of commons last Thursday night was expressed by all the chief participants in the commons last night and Mr. Gladstone said he hoped the matter would De allowed to drop.

23. August 12, 1893 The Cape Girardeau Democrat Cape Girardeau, MO
Article from The Cape Girardeau Democrat, August 12, 1893

Click image to open full size in new tab

Article Text

Resumed Business. The Missouri national bank of Kansas City has resumed business, having fully recovered from the effects of the senseless panie which caused its suspension. The close of the first day's business there was a net gain in deposits over and above all disbursements of $61,329.98 It is evident the failure of the bank was caused solely by the run made upon it by its depositors. An inspector had previously reported the institution solvent. PREPARING TO RESUME. The comptroiler of the currency has been notified that the bank which recently failed at Harrisonville, Mo., is taking steps to resume business.

24. September 3, 1893 The Times Richmond, VA
Article from The Times, September 3, 1893

Click image to open full size in new tab

Article Text

BANKS HAVE RESUMED. Those That Were Temporarily Embarrassed Now All Right. WASHINGTON, D. C. Sept. 1.Controller Eckels has prepared the following statement of banks which temporarily suspended during the late stringency and have since resumed business: Black Hills National Bank, Rapid City, S. D., capital stock, $125,000; Gate City National Bank, Atlanta, Ga., $250,000; Capital National Bank, Indianapolis, Ind., $300,000; Washington National Bank, Spokane Falls, Wash., $250,000; First National Bank, Palouse city, Wash., $75,000: Southern California National Bank, Los Angeles, Cal: $200,000; First National Bank, Los Angeles, Cal., $200,000; First National Bank, San Diego, Cal., $300,000; First National Bank, Santa Ana, Cal., $150,000; First National Bank, Kendallville, Ind., $50,000; First National Bank, San Bernardino, Cal., $100,000; Second National Bank, Ashland, Ky., $50,000; First National Bank, Rico, Col., $50,000; National Bank of Commerce, Provo City, Utah, $50,000; First National Bank, Cisco, Texas, $50,000; American National Bank, Leadville, Col., $100,000; Central National Bank, Pueblo, Col., $50,000; Missouri National Bank, Kansas City, Mo., $250,000; First National Bank, Fort Scott, Kan., $300,000; Union National Bank, Denver, Col., $1,000,000; National Bank of Commerce, Den ver $500,000; Hutchinson National Bank, Hutchinson, Kan., $100,000; People's National Bank, Denver, Col.,$600,000; First National Bank, Anthony, Kan., $50,000; Greeley National Bank, Greeley, Col., $50,000; Farmer's National Bank, Henrietta, Tex., $50,000; State National Bank, Vernon, Tex., $100,000; Fourth National Bank, Louisville, Ky., $200,000; First National Bank, The Dalles, Ore., $50,000; Waupaca County National Bank, Waupaca, Wis., $50,000: Waxabachee National Bank, Waxabachee, Tex., $100,000; Citizen's National Bank, Attica, Ind., $50,000; First National Bank, San Marcos, Tex., $80,000; First National Bank, Lockhart, Tex., $50,000. Total capital stock of $6,030,000. Since January 1 last 154 national banks have suspended. Of this number one has gone into voluntary liquidation, 57 have been placed in the hands of receivers, 62 are in the hands of national bank examiners with excellent prospects of early resumption, in addition to the 34 above named which have already resumed business.