10364. Missouri National Bank (Kansas City, MO)

Bank Information

Episode Type: Run → Suspension → Closure
Bank Type: national
Bank ID: 4494
Charter Number: 4494
Start Date: November 30, 1896
Location: Kansas City, Missouri (39.100, -94.579)

Metadata

Model: gpt-5-mini
Short Digest: 254668ee

Response Measures

Full suspension, Books examined

Other: Receivership later; reorganization attempts denied by Comptroller Eckels; criminal indictments against officers followed.

Description

Multiple contemporaneous reports state a wealthy brewer withdrew $50,000 on Nov 30, 1896, triggering heavy withdrawals (a run). The bank closed the same day and was taken in the hands of the comptroller (Comptroller/national bank examiner in charge). Reorganization was attempted but later refused by the comptroller (Apr 1897) and a receiver managed the failed bank — indicating permanent closure.

Events (3)

1. November 30, 1896 Receivership

Newspaper Excerpt: The Missouri National bank ... passed into the hands of the Comptroller of the Currency this morning, and is directly in charge of H. A. Forman, national bank examiner.; later references refer to a receiver (T. B. Wallace) managing the failed bank and litigation by the receiver against former officers. Comptroller Eckels refused proposed reorganization (Apr 1897). Receiver actions and court cases continue into 1898 indicating permanent failure and receivership administration.
Source: newspapers

2. November 30, 1896 Run

Cause: Bank Specific Adverse Info
Cause Details: Immediate trigger: a $50,000 withdrawal by a wealthy brewer (Heim/Hein) followed by others; contemporaneous mentions of slow collections and dissension among directors undermining confidence.
Measures: No ad hoc measures recorded besides directors placing notice and turning the bank over to Comptroller; national bank examiner H. A. Forman took charge.
Newspaper Excerpt: This action was precipitated by the withdrawal of $50,000 in one lump by Heim, a wealthy local brewer, whose action was quickly followed by others.
Source: newspapers

3. November 30, 1896 Suspension

Cause: Government Action
Cause Details: Comptroller of the Currency / national bank examiner intervened, taking charge after cash/reserve ran below required level and examiner valued paper lower than bank officials.
Newspaper Excerpt: By order of the directors this bank has been closed and is in the hands of the comptroller.
Source: newspapers

Newspaper Articles (21)

1. November 30, 1896 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, November 30, 1896

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A KANSAS BANK CLOSED. It Was Regarded as an Exceptionally Strong Institution, KANSAS CITY, Mo., Nov. 80.-Missouri National bank closed its doors this morning, owing to the heavy withdrawals of its principal depositore. The deposits are $1,500,000. The bank was classed as one of the strongest in the southwest. Shortly after 11 e'clock the following notice was placed on the door: "By order of the directors this bank has been closed and is in the hands of the comptroller." This action WAS precipitated by the withdrawal of $50,000 in one lump by Hein, a wealthy local brewer, whose action was quickly followed by others. The last statement issued by the bank showed deposits of $1,561,000 cash and exchanges $546,000. D. V. Riger is president: D. R. Covington, cashier. In the panie in July, 1893, the Missouri National was one of the local institutions to go under, but 8000 reopened. The bank had been open today just one hour when the comptroller took charge. The officers were too excited to make a statement. The same surprise Was evinced everywhere. No fears were expressed by the other leading bankers that the failure would spread.

2. December 1, 1896 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, December 1, 1896

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NATIONAL BANK SUSPENDS. The Misseuri, of Kansas City, in Examiner's Hands. KANSAS CITY, MO., November 30.The Missouri National Bank, one of the largest banking institutions in this city, passed into the hands of the Comptroller of the Currency this morning, and is directly in charge of H. A. Forman, national bank examiner. The failure is due to the money on hand running below the reserve required under the banking laws, and paper among the assets being given a much lower value by Bank-Examiner Forman than by the bank officials. Mr. Forman is reticent regarding the exact condition of the bank, and the officers of the institution say they have left everything to him. They assert, however, with apparent confidence, that they will pay depositors, in full, and no matter what occurs there will be a fair percentage left for stockholders. The failure created a surprise, as the

3. December 1, 1896 The News & Observer Raleigh, NC

Article from The News & Observer, December 1, 1896

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THE M'KINLEY WAVE. It Rolls in From all Parts on the "Great Tide of Prosperity." Kansas City, Mo., Nov. 30.-The Missouri National bank closed its doors this morning. This action was precipitated by the withdrawal of $50,000 by one depositor whose action was quickly followed by others. Two causes are assigned for the suspension. One is slow collections, the other reason and the prime reason was that there has been dissension among the directors. These were of such character that they finally led to a clash with the government and it was thought best to close the doors of the bank and have things straightened out.

4. December 1, 1896 Pine Bluff Daily Graphic Pine Bluff, AR

Article from Pine Bluff Daily Graphic, December 1, 1896

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TELEGRAPHIC NOTES. Important Events That Transpired Throughout the Country Yesterday and Last Night. The shoe factories of Lyan, Mass.. have announced a cut in wages of employes. * * * The operators of 200 looms at Lanchester (Mass.) mills have gone but on a strike. * * * Gen. Diaz takes the oath of office as President of Mexico today, making five consecutive terms he has held that position. *** Traffic on the Great Northern railroad, which was suspended on account of the blizzard which swept across the Northwest, has been resumed. +++ The Zenas Varnes carriage factory at St. Louis, was partially destroyed by fire last night. Loss estimated at $100,000. *** An effort is being made to settle the dockers' strike by arbitration. The strike is doing great damage to he shipping interests. * * * An ice gorge in the Chippewa river, near Eau Claire, Wis., caused an overflow and people were forced to flee for their lives. Many were frozen and much property was destroyed. + # + The First National Bank of Tyler, Texas, IS now defunct. It went to the wall yesterday morning. The capital was $200,000 with a surplus of $40,000. It is claimed that all depositors will be paid in full. *** The Missouri National Bank of Kansas city closed its doors Monday, owing to the heavy withdraws of one of its depositors. who drew out $50,000 in one lump. His action was quickly followed by others. H. A. Forman a national Bank examiner, of St. Louis, is now in charge of the bank.

5. December 1, 1896 Pine Bluff Daily Graphic Pine Bluff, AR

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BANK DOORS CLOSED. Missouri National Goes Under at Kansas City. RUINED BY HEAVY WITHDRAWALS A Wealthy Brewer Draws Out $50,000 In One Lump and Other Depositors Follow His Example-The Institution Was Considered Strong and the Deposits Amounted to $1,561,000. KANSAS CITY, Dec. 1.-The Missouri National bank closed its doors this morning owing to heavy withdrawals of some of its principal depositors. The deposits are $1,500,000. but a statement of the bank's assets and liabilities are not yet obtainable. The bank was classed as one of the strongest in the southwest. Shortly after 11 o'clock the following notice was placed on the door : "By order of the directors this bank has been closed and is in the hands of the comptroller." This action was precipitated by the withdrawal of $50,000 in one lump by Heim, the wealthy local brewer, whose action was quickly followed by others. The fir ; statement issued by the bank showed deposits of $1,561,000 and cash and exchanges amounting to $546,000. Its officials are D. V. Reiger, president and D. R. Covington, cashier. In the panic of July, 1893, the Missouri National was one of the other local institutions to go under, butitsoon reopened. The bank had been open for just an hour when the comptroller took charge of its affairs. The closing came as a surprise to even the officers. They were thoroughly disconcerted by the action, and too much excited to make a statement. The same surprise was evinced everywhere, other banks even believing the Missouri National had regained its prestige and was in a flourishing condition. No fears are expressed by other leading bankers that the failure will spread.

6. December 1, 1896 The Houston Daily Post Houston, TX

Article from The Houston Daily Post, December 1, 1896

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BANK DOORS ARE CLOSED. The Missouri National of Kansas City Goes to the Mall. OVER ONE MILLION IN DEPOSITS Wrangling Among the Directors the Chief Cause - The First National of Tyler, Texas, Also Fails. Kansas City, Mo., November 30.-The Missouri National bank closed its doors this morning owing to heavy withdrawals of one of its principal depositors. Deposits are $1,500,000, but a statement of the bank's assets and liabilities are not yet obtainable. The bank was classed as one of the strongest in the West. Shortly after 11 o'clock the following notice was posted on the door: "By order of the directors this bank has been closed and is in the hands of the comptroller." This action was precipitated by the withdrawal of $50,000 in one lump by Mr. Heim, the wealthy local brewer, whose action was followed by others. The last statement issued by the bank showed deposits of $1,561,000 and cash exchanges amounting to $546,000. Its officials are: H. V. Rieger, president: D. R. r Cowington, cashier. In the panic of July, 1893, the Missouri National bank was one of the Institutions to go under, Lut it soon re-opened. The bank had been open today r for just an hour when the comptroller took charge of its affairs. The officers were thoroughly disconcerted by the action and r too excited to make a statement. e The surprise was great, other banks bea lieving the Missouri National had regained its prestige and was in good condition. No fears were expressed by other leading bankers that the failure would spread. Absolutely no figures of assets or liabilities are obtainable. This afternoon the officials flatly refused to make a statement regarding the bank's condition or whether it would likely resume business. The general opinion, however, is that .he second failure will ultimately end in the Lank winding up its affairs. Two causes are assigned for the suspension. One is slow collections. The other n reason, and the prime reason, was that there has been dissension among the directors. 8 These were of a character that they fin= ally led to clashing with the government, and it was thought best to close the doors of the bank and have things straightened 11 out. The latter statement was confirmed e by President Rieger this atternoon. 3 "I have little to say." he said to a reporter, "except that there IN no doubt whatdi ever that depositors will get every dollar

7. December 2, 1896 The News & Observer Raleigh, NC

Article from The News & Observer, December 2, 1896

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"THE WAVE" IN WESTPORT. Kansas City, Mo., Dec. 1.-The Bank of Westport, which kept its account with the Missouri National bank, has suspended. The failure of the Missouri National bank caused a run on the Westport bank and fearing another run to-day it was decided to close. The assets are placed at $31,500; the liabilities at $20,000. NEXT! New York, Dec. 1.-The reported assignment of Herman Bindseil, dealer in fur garments, at 816 Broadway, show liabilities of $54,871: nominal assets, $47,251; actual assets, $20,334.

8. December 2, 1896 Kansas City Daily Journal Kansas City, MO

Article from Kansas City Daily Journal, December 2, 1896

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QUESTION OF RESUMPTION. CONSIDERED BY MISSOURI NATIONAL BANK DIRECTORS. Final Action Deferred Until Another Meeting-Examiner Forman Has Not Completed His Statement of the Assets and Liabilities. The question of a reorganization of the for Missouri National bank was discussed the several hours yesterday afternoon by directors and several of the outside stockholders, and it will receive attention action again to-day, but there will be no final until taken with reference to that subject some of the heaviest stockholders from out of the city arrive. The formal discus- in sion of the subject yesterday resulted showing that many of the stockholders were not at all averse to a reorganiza- an tion and were quite willing to stand assessment sufficient to take up every claim against the bank and start without a cent a due to any one. With others there was of disposition to wait until some plan was organization was suggested, but there to who expressed himself as opposed of none plan. For that reason the prospect reorganization any is not discouraging. National Bank Examiner Forman, getting who is in charge, was busy yesterday as matters straightened out as rapidly and possible. He was seen during the day in said there was nothing whatever new not bank's affairs and that he had and completed the his statement of the assets days. liabilities and might not for several and was busy with other matters it. He would attend to that when he reached Until the statement of the bank's con- to is made public there is no way has know dition the exact situation. The bank legal hand, however, more than the lot of on in cash and it carried a nice into reserve that can be easily be turned it paper on short notice, so that in case would cash into the hands of a receiver it goes to declare a big dividend. possibly bank be ready cent, within a short time. statement The 50 per while making no formal in sayofficers, the condition of the bank, unite holds is of that much of the paper it and ing and its assets are all right first-class sufficient to meet all obligations they quite carefully handled. They admit is slow. when accumulated some paper that contend have banks do that, but the officers be All have not allowed themselves to that they and they have no paper overloaded cannot be realized on nicely with proper management. President Rieger said: and "I give proYesterday to remain here in the bank the pose entire time to assisting in carrying every my of settlement forward so that at as work may secure full payment faith depositor a date as possible. I have do full not inearly value of our assets and had in the the depositors shall suffer. They to tend in the bank and its ability not be confidence and that confidence shall repay, I have no statement to make bank. abused. the definite condition of the who is garding come from the examiner I do, I It must charge. Knowing the assets as ample in hesitate to say that they are As to do meet not the obligations of the bank. that has to reorganization of the bank, myself, I the been determined on. For way. not retire from the business. any twentyshall been in the business for I two have years and do not care to continue longer in it." of the business men who carried any None in the bank has met with banks deposits hardships from the closing, as other of them stepped in and taken care have also have The other banks against promptly. to depositors their claims would stated closed bank were good and they This is the them and wait for dividends. feel help indication of what other banks value an concerning the closed bank and the of claims held against it. the of the other banks in the city ex- its None any trouble yesterday from Missouri perienced and the closing of the the usual depositors did not interfere with National of business. The other banks are run amply fortified with cash.

9. December 2, 1896 Semi=weekly Graphic Pine Bluff, AR

Article from Semi=weekly Graphic, December 2, 1896

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TELEGRAPHIC NOTES. Important Events That Transpired Throughout the Country Yesterday and Last Night. The shoe factories of Lynn, Mass., have announced a cut in wages of employes. ### The operators of 200 looms at Lanchester (Mass.) mills have gone out on a strike. * * 1 Gen. Diaz takes the oath of office as President of Mexico today, mak ing five consecutive terms he has held that position. ## Traffic on the Great Northern railroad, which was suspended on account of the blizzard which swept. across the Northwest, has been resumed. ### The Zenas Varnes carriage factory at St. Louis, was partially destroyed by fire last night. Loss estimated at $100,000. ### An effort is being made to settle the dockers' strike by arbitration. The strike is doing great damage to the shipping interests. : : 1 An ice gorge in the Chippewa river, near Eau Claire, Wis, caused an overflow and people were foreed to flee for their lives. Many were frozen and much property was destroyed. ### The First National Bank of Tyler, Texas, is now defunct. It went to I the wall yesterday morning. The k capital was $200,000 with a surplus of $40,000. It is claimed that all depositors will be paid in full. ### I The Missouri National Bank of Kansas city closed its doors Monday, owing to the heavy withdraws of one of its depositors. who drew out $50,000 in one lump. His action s was quickly followed by others. H. A. Forman a national Bank examin iner, of St. Louis, is now in charge ( of the bank. I

10. December 2, 1896 The Roanoke Daily Times Roanoke, VA

Article from The Roanoke Daily Times, December 2, 1896

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ANOTHER BROKEN BANK. Kansas City, Mo., Dec. "1.-The Bank of Westport, which kept its account with the Missouri National Bank, has suspended. The failure of the Missouri National caused a run on the Westport Bank, and fearing another run to-day it was decided to close. The assets are placed at $31,500; the liabilities at $20,000.

11. December 2, 1896 The Seattle Post-Intelligencer Seattle, WA

Article from The Seattle Post-Intelligencer, December 2, 1896

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Failure Caused by Missouri National. Kanses City, Dec. 1.-The Bank of Westport, which kept an account with the Missouri National. which failed yesterday, has suspended for the benefit of the credftors. The failure of the Missourt Nationat caused a run on the Westport bank. The assets are placed at $31,500; liabilities about $20,000. The assets include $27,500 of accounts and bills receivable and $2,000 cash. Cashier Edward F. Phillips expressed the opinion that the depositors will be paid in full.

12. December 4, 1896 The Cambria Freeman Ebensburg, PA

Article from The Cambria Freeman, December 4, 1896

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Another Bank Goes Under. KANSAS CITY, Dec. 2.-The bank of Westport, which kept its account with the failed Missouri National bank, has suspended. The failure of the Missouri National caused a run. The assets are placed at $31,500; the liabilities at about $20,000.

13. December 4, 1896 Omaha Daily Bee Omaha, NE

Article from Omaha Daily Bee, December 4, 1896

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Troubles in the Business World. NEW YORK, Dec. 3.-Application for a receiver for the property of Oscar Hammerstein, the music and theatrical manager, and for an injunction restraining him from disposing of any of his assets, was made today before Judge Smythe in the supreme court. The applicant is A. M. Byers & Co. of Pittsburg, who hold a non-satisfied judgment for $8,000 against Hammerstein for material and labor. Judge Smythe has withheld his decision until he could examine the affidavits which accompany the application. KANSAS CITY, Dec. 3.-The J. B. Owens Drug company failed here today as a result of the Missouri National bank failure. The bank holds notes of the firm aggregating $11,250.

14. December 5, 1896 The Diamond Drill Crystal Falls, MI

Article from The Diamond Drill, December 5, 1896

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to mas am JOI Consionan R Su 46, or $17,601,977 less than during the preceding year. The public debt cutisuieDu SUM 1,676, 120,983 on June 30, 1895. Henry Powers, aged 33 years, a farmer iving near Marion, O., killed his wife nd then took his OWL life while temorarily insane. The Citizens' bank of Midlothian, Tex., has suspended business. W. E. Coe, county treasurer, was fataly shot by burglars in his office at Dalas. Tex. and robbed of $6,000. The passenger steamer City of Kalmazoo was burned at South Haven. Mich., and Robert Van Ostrand. Joseph Lang and Miss Rosa Germs perished in he flames. An immense ice gorge 30 feet high formed across the Chippewa river beow Chippewa Falls, Wis., and farms nd farm buildings along six miles of the Chippewa valley were under water. Zenas Varney's carriage factory in St. Louis was damaged by fire to the exent of $100,000. C. M. Blaine. aged 52. chaplain of the army post at Fort Ringgold, Tex., and is 11-year-old daughter were burned o death in their home. Mr. Blaine was 1 cousin of the late James G. Blaine. The next annual encampment of the G. A. R. will be held in Buffalo, N. Y., beginning August 23. The First national bank of Tyler. Tex., closed its doors with deposits of '000'183' The house of Sam Henderson (colored). near Conway, Ark., was burned nd five of his children perished in the lames. The desertions of sailors from the havy have left some of the ships with hardly sufficient men to man the vessels. George Edwin Dean. aged 12 years, nd John Selcer, aged nine, were Irowned at Des Moines, la., while skatng. The Missouri national bank of Kanas City closed its doors with deposits '000'121'1$ IC The richest and most extensive discovery of rock phosphate in the history f the world has been made in Tennesee in the counties of Davidson. Williamson. Rutherford and Maury. As the result of political unimosity )boothers white 'a "I pun 'A '1 cilled at Bethany, S. C., by L. J. Wiliams. a prominent politician. The report of Mr. Kimball. the general superintendent of the life-saving ervice, for the year ending June 30. hows that the crews saved and assisted o save 472 vessels, valued. with their argoes, at $4,853,110. The cost of mainlaining the service for the year was $1.United States Register Tillman, of the reasury, in his annual report states hat during the year there were issued 43,476 bonds of the value of $258,595. 50. and during the same period there vere cancelled 64,579 bonds of the value " Morello, the once three-year-old king of the turf, died near San Francisco. In his best days he was valued at $100,000. The two 16-year-old twin daughters of Riley Taft. of Orange, Mich., were nstantly killed at a railway crossing. A bill has been introduced in the Georgia legislature prohibiting the playing of football in the state; also prohibiting the sale of cigarettes or cigarette paper. The public debt statement issued on the 1st showed that the debt increased $8,270,203 during the month of November. The cash balance in the treasury was $835,961,529. The total debt, less the cash balance in the treasury, amounts to $1,221,126,257. The German-Ameriean bank at Portage. Wis., made an assignment for the

15. December 10, 1896 Warren Sheaf Warren, MN

Article from Warren Sheaf, December 10, 1896

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THE NEWS. Compiled From Late Dispatches. DOMESTIC. The Missouri national bank of Kansas City closed its doors with deposits of $1,131,000. United States Register Tillman, of the treasury, in bis annual report states that during the year there were issued 143,476 bonds of the value of $258,595,850, and during the same period there were cancelled 64,579 bonds of the value of $136,941,450. The report of Mr. Kimball. the general superintendent of the life-saving service, for the year ending June 30, shows that the crews saved and assisted to save 472 vessels, valued, with their cargoes, at $4,853,110. The cost of maintaining the service for the year was $1,401.805. Morello, the once three-year-old king of the turf, died near San Francisco. In his best days he was valued at $100,000. The two 16-year-old twin daughters of Riley Taft, of Orange, Mich., were Instantly killed at a railway crossing. A bill has been introduced in the Georgia legislature prohibiting the playing of football in the state; also prohibiting the sale of cigarettes or cigarette paper. The public debt statement issued on the 1st showed that the debt increased $8,270,203 during the month of November. The cash balance in the treasury was $835,961,529. The total debt, less the cash balance in the treasury, amounts to $1,221,126,257. The German-American bank at Portage, Wis., made an assignment for the benefit of its creditors. The visible supply of grain in the United States on the 1st was: Wheat, 58,914,000 bushels; corn, 18,228,000 bushels; oats, 12,474,000 bushels: rye, 2,559,000 bushels; barley, 5,357,000 bushels. The monthly statement of the comptroller of the currency shows that on November 30 the amount of national bank notes in circulation was $235,312,103, an increase for the month of $414,446, and for the last 12 months of $21,440,907. The Cincinnati chamber of commerce passeda resolution petitioning congress to create a new cabinet position, that of commerce and manufactures, to be presided over by a secretary. Tens of thousands of acres of land along the Chippewa river in Wisconsin were under from one to five feet of water and hundreds of people had been driven from their homes. The Bank of Westport. Mo., closed its doors with liabilities of $20,000. During the month of November the total coinage at the mints of the United States was $7,458,722, of which $5,064,700 was gold, $2,305,022 silver and $89,000 minor coins. The coinage of standard silver dollars was $1.914.000. The wife of ex-Mayor Joseph S. Brown.of Somerville, Mass., was burned 10 death in a fire which destroyed the family residence. At the annual convention in Sacramento of the California Fruit Growers' association the president said that the annual loss by insect pests in the United States was over $3,000,000. The residence of William Lewis (colored) was burned at Alton. III., and two children under ten years were roasted to death. At a preliminary currency reform meeting in Indianapolis, Ind., at which many states were represented, it was decided to hold a national convention in Indianapolis in January, 1897, to discuss the financial question. Engineer Bennett and Driver Walter Stevens, of the fire department of Everett, Mass., were killed by a railway engine while responding to an alarm of fire. Six business firms lost their goods at Italy, Tex., by an incendiary fire, the total loss being $100,000. Gage & Felton, bankers and brokers in Boston, failed for $100,000. The post office at Mason City, la., and all the mails and contents were destroyed by fire. Earthquake shocks of sufficient force to rattle dishes and furniture and sway buildings perceptibly were felt at Cairo and Anna, III. In a prize fight at San Francisco between Tom Sharkey and Bob Fitzsimmons the former won in the eighth round. The Arena Magazine Publishing company in Boston went into the hands of a receiver. William Doherty and Thomas Lennig met death while fighting flames in a ehurch at Atlantic City, N.J. A gang of burglars robbed every store in the village of Moline, Mich. The home of Paul Barteovitch in Chicago was burned during the absence of himself and wife and their four little children perished in the flames. Expert cracksmen blew the safe of

16. December 16, 1896 Morris Tribune Morris, MN

Article from Morris Tribune, December 16, 1896

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FINANCE AND TRADE. The Harlan (Ia.) State bank has failed. Iron ore has been discovered near Niles, Mich. Thr greatest oil well in Ohio has been found near Findlay. A new anti-trust nut and bolt works will be built at Anderson, Ind. Negotiations for the reorganization of the Missouri National bank at Kansas City are in progress. A receiver has been appointed at Topeka, Kan., for the celebrated silver statue of Ada Rehan. Thomas A. E. Weadock has been appointed receiver of the First National bank of East Saginaw, Mich. St. Louis is enjoying a boom in the shoe trade. Factories are running full time and with increased forces. Sioux City is to have direct telephone connection with New York and Boston as well as the Twin Cities and Kansas City. The National Bank of Commerce of Duluth has suspended. Failure to ınake any money dictated the action of the direçtors. The directors of the Western Union Telegraph company, have declared the regularly quarterly dividend of 11/4 per cent, payable Jan. 15. Statistics compiled by the crop department of Iowa show loss of over 30 per cent of all the hogs in Iowa by cholera, the per cent being from 1 to 77 in the different counties. The loss in money is given at $15,000,000. Official figures make the total iron ore output of the Lake Superior mines for the year 6,663,389 gross tons. Of this amount the Mesaba range shipped 2,893,300 tons; Marquette, 2,468,451; Gogebic, 1,698,956; Menominee, 1,514,857 ; Vermillion, 1,087,861.

17. February 15, 1897 The Topeka State Journal Topeka, KS

Article from The Topeka State Journal, February 15, 1897

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"TVNOILVN MEN 03 Calvin Hood Will be President and Charles Lantry Cashier. : (From Saturday's Kansas City Journal) J If success, which now seems assured, $1 crowns the efforts to reorganize the Il Missouri National bank, an entirely : new bank will rise under a new name, officered and managed by new men, 7 backed by ample capital and starting X out with clean books. *1 When the new bank is organized as a in result of the meetings of stockholders B and depositors to be held early next L. week, it will be Calvin Hood, of Emporia, Kas., as president; Charles J. L. 5 Lantry, of Strong City, Kas., as cash1 ier and H. P. Clark, as assistant cash00 ier. Old management and methods will p be done away with, and new men and methods will take their places. u As has already been announced a o meeting of the stockholders of the Miso souri National will be held at 2 o'clock Il Monday afternoon to discuss and vote J upon the plan of reorganization which a has been approved by Comptroller Eckels. This plan as well understood, 1 means simply the wiping out of exisA tence of all stock of the old bank and p the sale of 75 per cent of the assets of p the old bank to the men who will go 0 into the new organization. Those of the old stockholders who do not go into J the reorganization will no longer have any interest in the bank and this, in all u probability, means the retirement of p D. V. Reiger, Henry C. Kumpf, Paul S Covington and others who were activep ly connected with the management of the old bank. p Speaking of the stockholders' meet7 ing, Mr. H. P. Clark, who for a short time was assistant cashier and who is A slated for that important position again S said yesterday: "The $250,000 of the a capital stock of the bank is held by 120 u stockholders and at the meeting MonA day the vote of the holders of two0 thirds of the stock must be cast in favI or of the proposition to liquidate and 71 reorganize for it to carry. A canvass p of the situation makes it certain that u p the new proposition will be approved a and that a new bank will be organized. a Of course, this must first be ratified by B a majority of the depositors and after u that must be approved by Comptroller Eckels, but it is believed there will be no opposition from the depositors and that the reorganization will be readily . approved by the comptroller, if the suggestions made by him are carried u out. The main idea, of course, is to do away with the expense of a receiver and to accomplish that the stockholders 4 a and the depositors must agree upon a plan of settlement. As soon as the is stockholders and depositors have reached an agreement a charter will e of be applied for. It will be an entirely new bank, under a new management and with a new name, but it has not yet been christened." e Sam B. Hough, speaking for the deJ positors' committee, said: "I believe 18 the plan of reorganization which has 71 been proposed will be ratified by both u I the stockholders and depositors. know that a majority of the orginal u depositors are in Yavor of the plan, but 71 there is some fear that certain parties, p who were never friendly to the Missouri -1 National, and who would just as soon there would not be another new and e strong bank started here, may try to e) defeat the plan by buying up enough A claims of depositors to defeat the rate ification of the proposition when it comes to a vote. I hardly think, myin self, that there is anything in this. but at strange things sometimes happens in Kansas City banking circles, and you can't always tell. The meeting of the S! depositors will be held early next week, at but the day has not been set and will not be until after the stockholders' -1 meeting on Monday." SE Receiver T. B. Wallace was in ChicaII go yesterday, partly for the purpose of J holding a consultation regarding the p reorganization of the bank with Compis troller Eckels, and partly to look after u the valuable Omaha building in that n. city, which is a part of the assets of the Ja Missouri National. Mr. Lantry will arrive in Kansas City this morning and will meet with sever: or al local capitalists, who have promised to take good blocks of the stock in the et new bank. When the stockholders meet on Monday those who control an ample majority will have fully deterS mined on just how they are going to -$ proceed. A Professor Blackmar, of the Kansas

18. April 12, 1897 Vilas County News Eagle River, WI

Article from Vilas County News, April 12, 1897

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LATE TELEGRAMS CONDENSED -Amined Dowleh has been appointed president of the Persian council of ministers of the interior with extensive powers. -The case of United States District Attorney Jones of Carson City, Nev., charged with extortion from Dan Stuart and with other offenses. has not yet been presented to the federal grand jury. -Mrs. Nobles, convicted of the murder of her husband, has for the fourth time been sentenced by Judge Harris to be hanged at Jeffersonville, Ga. The execution is set for April 23. -A charge made by Alfred Kempner, the noted music writer and critic of Berlin, in an article published in the Frankfurter Zeitung, to the effect that critics of Berlin are open to bribery, has created the liveliest sensation in literature and social circles of Berlin. -Another sensation in Austrian parliamentarian circles is the elopement of a young daughter of Dr. Ferdinand Kronawetter, leader of Vienna Democrats and member of the Reichsrath. -The Lebanon (Pa.) Rolling Mills company, owner of the large iron plant known as Lights Mills has executed a deed of assignment for the benefit of creditors to Samuel E. Light and M. H. Leonard. -Italian canned tomatoes are supplanting the American tomatoes at Belfast, owing, as the dealers say, to the fact that the American vegetable is over cooked or over ripe and consequently is not as firm when opened as the Italian tomatoes. -Cecil Rhodes has started from London on his return to South Africa. -Madrid is gaily decorated with flags in honor of the victories of the Spanish troops in the Philippine islands. -The steamer R. T. Cole sank in the Cumberland river this morning at Hunter point. She had a full cargo. Three negro roustabouts were drowned. -The Spanish cruiser Infanta Maria Theresa has been ordered to New York, where she will represent Spain at the ceremonies attending the ceremonies of the Grant monument. -Comptroller Eckels has refused to permit the proposed reorganization of the defunct Missouri National bank of Kansas City. The bank failed last fall, owing $1,500,000. -W. S. Ball, tax collector of Erie, Pa., suicided today by taking strychnine. An examination of his accounts has not yet been made. -Edwin O'Neil. receiver of the Oregon Railway & Navigation company of Portland, Or., is recovering from the injuries he received at Rochester, N. Y. He will probably be able to leave the hospital soon. -Capt. Daniel Hay of Co. I, Eighteenth Illinois volunteers, ex-member of the Norman Federal Town Site board, died at Norman, O. T., aged 55. -A quarterly dividend of 1 per cent. has been declared upon the stock of the Central railroad of New Jersey. This is a reduction of ½ per cent. from the usual dividend. -Five hundred employes of clothing manufacturers in St. Louis struck and the latter have a fight on their hands that may prove serious. -Incendiaries made an attempt last night to destroy the No. 3 mine, Lehigh & Wilkesbarre Coal company, near Hazelton, Pa. The men had narrow escapes.

19. January 20, 1898 Eagle River Review Eagle River, WI

Article from Eagle River Review, January 20, 1898

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# Decides Against Stockholders. In the United States Circuit Court at Springfield, Ill., Judge Allen rendered judgment in favor of Receiver Theodore Wallace of the defunct Missouri National Bank of Kansas City, Mo., against the former president, David V. Reiger, and the former cashier, Robert D. Covington, in the sum of $600 and $10,000 respectively, being the amount of stock they held in the concern. These are the two officers who have been indicted by a special grand jury at Kansas City in the Federal Court on the charge of wrecking the bank of which they were officers. They are out on $10,000 bonds each.

20. February 22, 1898 The Herald Los Angeles, CA

Article from The Herald, February 22, 1898

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uralization does not increase the vote of this county. # Court Notes The circuit court adjourned yesterday to Monday, February 28th. Allen P. Nichols was admitted to practice in the circuit court on motion of J. S. Chapman. Lynn Helm, Esq., was admitted to practice in the circuit court on motion of Shirley C. Ward. J. I. Harris and Geo. Cardwell will be tried for the murder of old man Hilton of Las Virgenes on May 2d. The case of Theodorie B. Wallace, receiver of the Missouri National bank of Kansas City, vs. T. L. Bacon has been ordered continued in the circuit court until March 1st. Continuance to Monday, February 28th, was ordered yesterday in the suit brought by the Pomona Land and Water company to establish their rights in certain lands purchased from the Southern Pacific Railroad company. The sentence of B. Solomon, who was convicted of buying a lot of good clothes, which he knew to have been stolen from a Santa Monica tailor by a drunken old soldier, for a song, was continued at the request of prisoner's attorney until February 24th. In the case of the United States vs. Messrs. H. P. Sweet, Wilson and Howard, who were indicted by the last grand jury and charged with an attempted land deal swindle, a demurrer to the indictment was confessed, in the district court, and Judge Wellborn dismissed the indictment. In the case of the London and San Francisco bank vs. the Willamette Steam Mill, Lumber and Manufacturing company, on motion of Borden & Carhart, solicitors for the complainant, an order confirming the sale of real property was yesterday signed and ordered entered by Judge Wellborn, in the circuit court.

21. November 25, 1898 Santa Fe New Mexican Santa Fe., Santa Fe, NM

Article from Santa Fe New Mexican, November 25, 1898

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THE JURY FAILED TO AGREE. New Trial for Bank Officers Alleged to Have Used the Bank's Funds in Speculation. Kansas City, Nov. 25.-The jury in the United States district court trying D. V. Rieger, an expert, and Robert D. Covington, ex-cashier of the failed Missouri national bank, on indictments charging embezzlement and application of funds, have disagreed. A new trial will be set for the April term of court. Reiger and Covington were indicted on three counts embracing embezzlement, abstraction and willful misapplication of the moneys and credits of the bank. When National Bank Examiner Foreman took charge, he had E. P. Moxey expert the books. Moxey was principal witness for the government. He attempted to show how thousands of dollars had been used by Rejger and Covington to support an enterprise in which they were interested. The receiver has been able to pay but a small dividend. Since the failure, Rieger and Covington have been engaged in the insurance business at Springfield, Ill.