10365. Missouri Valley Bank (Kansas City, MO)

Bank Information

Episode Type
Run → Suspension → Closure
Bank Type
state
Start Date
February 17, 1881
Location
Kansas City, Missouri (39.100, -94.579)

Metadata

Model
gpt-5-mini
Short Digest
0a283460

Response Measures

Full suspension

Description

Multiple newspapers report the Missouri Valley Bank suspended on Feb 17, 1881 after heavy withdrawals. Chicago Tribune explicitly cites a heavy run during the past three days and reports an assignment to Henry Smith who took possession (receiver). Figures for liabilities/assets vary across reports (common OCR/dispatch differences): liabilities reported between $80,000 and $275,000; assets variously $200,000, $332,000, $355,000. I infer the suspension led to a receivership/assignment, so the bank did not resume normal operations in these reports.

Events (3)
1. February 17, 1881 Receivership
Newspaper Excerpt
At 1 o'clock this afternoon an assignment was made to Mr. Henry Smith, and he at once took possession of the bank and papers of the institution, -and as soon as possible a statement of the condition of the bank will be made public.
Source
newspapers
2. February 17, 1881 Run
Cause
Bank Specific Adverse Info
Cause Details
Depositors made heavy withdrawals after the institution had long been considered unsafe; reports cite a heavy run over several days.
Measures
None prior to suspension reported; subsequently an assignment was made to Henry Smith.
Newspaper Excerpt
The failure was in consequence of a heavy run during the past three days.
Source
newspapers
3. February 17, 1881 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended after heavy withdrawals and longstanding doubts about its safety; liabilities and assets reported in contemporaneous dispatches leading to suspension/assignment to a receiver/assignee.
Newspaper Excerpt
The Missouri Valley Bank of Kansas City, an institution considered unsafe for a long time, suspended yesterday.
Source
newspapers

Newspaper Articles (10)
1. February 18, 1881 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, February 18, 1881

Click image to open full size in new tab

Article Text

BRIKE TELEGRANS. . Bits of News and Gomsp or the World Briefly Told. The police force of New York city numbers 2,519 men. Nothing of interest transpired in the Whittaker case yesterday. The telegraph wire has been cut between New Castle and Lady Smith. e Speaker Randall thinks the three per cent funding bill will pass both houses of Congress. Increasing financial difficulties make the Sultan of Turkey more than ever desirous of peace. Telegrams report the murder of J Reid, a negro, by a negro, Tuesday night, near Hustonville, Ky. President Brand denies the rumor that p the Orange Free State Boers have formed a league in Natal to oppose the British. I Tim Murphy and Kelly were killed yesterday by the caving of an embankment on the Massachusetta Central railroad, 1 The conference between Parnell and V Rochefort has created much indignation . among the Catholic members of Parnell's . party, , J. March, editor of the Commercial, t Portland, Indiana, was mortally wounded : by a printer, named Williams, on Tues: day last. , President Hayes has withdrawn the nomination of Gen. Forster for United States Attorney for the Southern district I of New York. I The Missouri Valley Bank of Kansas City, an institution considered unsafe for a ) long time, suspended yesterday. Liabilii ties, $275,000; assetts, $200,000. The proposed prohibitory liquor amend: ment to the Constitution of Michigan was defeated in the State Senate yesterday, lacking one vote of the requisite twothirds. ; At Toledo, Ohio, the extensive ship chandlery stores and warehouse of T. COX Bros., 64 and 66 Water street, wore entirely destroyed by fire yesterday morn3 ing. Loss, $60,000; insurance, $40,000. Parnell promised, on his return to Ireland, to send Victor Hugo a letter upon the political situation of that country. Hugo said he would reply to such a letter by a manifesto to Europe in favor of the claims of Ireland, : Charles Swazart, a rough, went uninvited to country dance, near Webster, Dark county, Ohio, and, to create a scene. fired a pistol into the ceiling, whereupon ) Lewis Christian shot Swazart in the head. The wound is probably mortal. Hugo Bank, a German, and wife arrived : in this country eight months ago, and since that time visited Cincinnati, whence to they Tuesday, returned and stopped New at York 339 East city Ninth last street. The husband came to Castle Gar. den yesterday, and said that the night be. fore his wife and be quarreled over fifty dollars, which she had lost, and she left the house, vowing that she would never return. He says she has no friends in the city. The police were notified to search for her.

2. February 18, 1881 Wheeling Register Wheeling, WV
Article from Wheeling Register, February 18, 1881

Click image to open full size in new tab

Article Text

Of the Day in Pithy Paragraphs. Domestic. The Senate of Maine has negatived the constitutional amendment favoring female suffrage. The Missouri Valley Bank of Kansas City suspended yesterday. Liabilities $275,000; assets $200,000. When ex-Secretary Thompson saw Pennsylvania avenue under water he thought it was the Panama canal. At Orange, N.J., the hat factory of T. F. Brennan & Co., was burned yesterday. Lose, $24,000; insurance, $14,000. It is not believed here that James Russell Lowell desires to be relieved of his office as United States Minister to England. A New York railroad officer says the demand for cars to run to Washington for the inauguration exceeds anything of the kind ever known. Senator Bayard and other members of the Finance Committee are very confident of passing the Funding bill as reported from the committee. It is now understood that Howell's idea in leaving the Atlantic Monthly is in order to accept an appointment as U.S. Minister to Swiss Confederation. A dispatch from Virginia City, Nev., yesterday, says Senator-elect Fair left there this afternoon for Washington. He will step at Wapollo, Iowa, to visit his sister. An Oakdale, Mass., dispatch says: Tim Niphan and John Kelly were killed yesterday by the caving in of an embankment on the Massachusetts Central Railroad. At a meeting of the directors of the Central railroad, N. J., yesterday, Knight and Clarke resigned and Jay Gould and Sidney Dillon were elected to fill the vacancies. At Toledo the extensive ship chandlery stores and warehouse of Wilcox Bros., 64 and 66 Water street, were entirely destroyed by fire yesterday. Loss, $60,000; insurance, $40,00. Dr. Gearing reported a case of smallpox yesterday at the office of Health Officer Harlan, of Allegheny. The person's name is David Hentzal. He boarded on River avenue, above the water works. Foreign. The Bank of England has reduced its rate of discount to 3 per cent. The increasing financial difficulties make the Sultan of Turkey more than ever desirous for peace. Count Von Arnim Boilzenburg will decline the Presidency of the Reichstag, as Clericolect has been selected Vice President. The conference between Parnell and Rochefort has excited much indignation among the Catholic members of Parneli's party. Gen. Colley telegraphs that the Boers have made overtures for peace. The proposals have been considered in Cabinet counsel and the report has been dispatched by telegraph to Colley. There is a much more hopeful feeling in Paris relative to the Greek question, in consequence of Germany having consente to take the lead in the negotiations at Constantinople.

3. February 18, 1881 Chicago Daily Tribune Chicago, IL
Article from Chicago Daily Tribune, February 18, 1881

Click image to open full size in new tab

Article Text

THE KANSAS CITY BANK-FAILURE. Special Dispatch to The Chicago Tribune. KANSAH CITY Mo., Fob. 17.-The announce. ment was made this morning of the suspension of the Missouri Valley Bank of this city, with liabilities amountingr to $205,000, and assets from all sources said to be good for $332,000. The fallure was in consequence of u heavy run during the past three days. P. J. Althor, the cashiur, anys the bank will In all probability pay dollar for dollar. At a o'clock this afternoon an assignment was made to Mr. Henry Smith, and hu at once took possession of the bank and papers of the Institution, -and as 60011 118 possible a statement of the condition of the bank will be made public. A. W. , Armour, President or the Armour Brothors' Bank, says the failure will have no effect whatever on the business community, as the bank did but 11 small portion of the business transacted here. The bank had a nominal capital stock of $75,000, and deposits amounting to $100,000.

4. February 23, 1881 Mower County Transcript Austin, Lansing, MN
Article from Mower County Transcript, February 23, 1881

Click image to open full size in new tab

Article Text

Business Failures. The Missouri Valley bank, Kansas City, suspended on the 17th inst. Liabilities $270,000; assets $200,000, in discounted paper. Friedman Brothers, wholesale dry goods dealers of Detroit, have failed. On the 15th they filed mortgages amounting to $100,000. ono of which empowers Leopold Freund to take possession of their establishment and conduct the business for the benefit of creditors. Frederick Guenther, wholesale hatter, Milwaukee, Wis., made an assignment for the benefit of his creditors on the 17th inst Liabilities in the neighborhood of $75,000; assets about $50,000, E. T. Howe, a New York lard merchant, made an assignment on the 15th. Liabilities $70,000. A schedule in the assignment of John Maxwell, the heavy stone dealer of Rondout, N. Y. shows that the assets exceeds the liabilities by $100,000.

5. February 24, 1881 The Somerset Press Somerset, OH
Article from The Somerset Press, February 24, 1881

Click image to open full size in new tab

Article Text

Bank Failed. The Missouri Valley Bank of Kansas City, has suspended with liabilities about $80,000 and assets $355,000 in discount papers. -

6. February 24, 1881 The Eaton Democrat Eaton, OH
Article from The Eaton Democrat, February 24, 1881

Click image to open full size in new tab

Article Text

Bank Failed. The Missouri Valley Bank of Kansas City, has suspended with liabilities about $80,000 and assets $355,000 in discount papers. P

7. February 24, 1881 The Princeton Union Princeton, MN
Article from The Princeton Union, February 24, 1881

Click image to open full size in new tab

Article Text

THE NEWS IN BRIEF. Bank Suspension. The Missouri Valley bank, of Kansas City, has suspended. The institution has been considered unsafe for a long time. The liabilities are about $275,000, and assets $200,000, in discounted paper.

8. February 26, 1881 The Superior Times Superior, WI
Article from The Superior Times, February 26, 1881

Click image to open full size in new tab

Article Text

Business Failures. The Missouri Valley bank, Kansas City, suspended on the 17th inst. Liabilities $270,000; assets $200,000, in discounted paper. Friedman Brothers, wholesale drv goods dealers of Detroit, have failed. On the 15th they filed mortgages amounting to $100,000, one of which empowers Leopold Freund to take possession of their establishment and conduct the business for the benefit of creditors. Frederick Guenther, wholesale hatter, Milwaukee, Wis., made an assignment for the benefit of his creditors on the 17th inst Liabilities in the neighborhood of $75,000: assets about $50,000. E. T. Howe, a New York lard merchant, made an assignment on the 15th. Liabilities $70,000. A schedule in the assignment of John Maxwell, the heavy stone dealer of Rondout, N. Y. shows that the assets exceeds the liabilities by $100,000.

9. February 26, 1881 Lexington Weekly Intelligencer Lexington, MO
Article from Lexington Weekly Intelligencer, February 26, 1881

Click image to open full size in new tab

Article Text

The Missouri Valley Bank at Kansas City has suspended.

10. March 18, 1881 The Dallas Daily Herald Dallas, TX
Article from The Dallas Daily Herald, March 18, 1881

Click image to open full size in new tab

Article Text

Bauk Officers in Trouble. Kansas City, March 17.-Mr. Theodore Krauss, the president of the suspended Mis. pouri Valley bank, who was arrested yesterday, says that he can thoroughly vindicate himself when he goes into court. He gave bond for bis appearance st the next term of the criminal court. If Robert J. Alther, the cashier, comes to Kansas City he also will be arrested. A telegram was received from him to-day saying that he would return from New York on Friday.