10377. Park National Bank (Kansas City, MO)

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 9383
Charter Number: 9383
Start Date: November 15, 1926
Location: Kansas City, Missouri (39.100, -94.579)

Metadata

Model: gpt-5-mini
Short Digest: 412b293b

Response Measures

Accommodated withdrawals, Public signal of financial health, Books examined

Description

Multiple contemporaneous newspaper accounts (Nov 15–16, 1926; later reports Dec 4–7) describe a depositor run on the Park National Bank that was quickly handled: all depositors were paid, specie and an armored Federal Reserve cash car were displayed, Governor W. J. Bailey publicly reassured patrons, and the run turned into a 'reception.' No suspension, receivership, or permanent closure of Park National is reported in these items.

Events (2)

1. April 8, 1909 Chartered

Source: historical_nic

2. November 15, 1926 Run

Cause: Rumor Or Misinformation
Cause Details: Run followed circulating rumors and uneasiness after the recent closings of the Federal Trust Co. and Terminal Trust Co.; some accounts explicitly call the run inspired by malicious rumor.
Measures: Paid every depositor who wanted funds; displayed large quantities of specie brought in by an armored Federal Reserve cash car; public reassurance by W. J. Bailey (Governor of the Federal Reserve Bank); handed out flowers to calm crowd.
Newspaper Excerpt: A run on the Park National Bank here today was turned into a public reception with flowers and smiles. The Park National ... opened and found 200 depositors lined up to get their money. Every one was paid.
Source: newspapers

Newspaper Articles (10)

1. November 15, 1926 St. Louis Post-Dispatch St. Louis, MO

Article from St. Louis Post-Dispatch, November 15, 1926

Click image to open full size in new tab

Article Text

ANOTHER KANSAS CITY BANK IS CLOSED Cashier Is Brother of President of Concern That Closed Last Friday. Special JEFFERSON Nov. The State Finance Department received word today of the closing of the Waldo State Bank of Kansas City. It is the forty-ninth state bank to be closed in Missouri this year. The Waldo State bank had $125,000 of State funds on deposit, but the State Treasurer said today that he was protected by bonds of $112,000 and $14,500 of real estate securities. The cashier of the bank closed today is J. G. Laughlin, brother of P. E. Laughlin, president of the Federal Trust Co. of Kansas City, which was closed Friday. Finance Department officials said there connection in the operations of the Waldo and Federal companies. The Waldo bank had deposits of $529,429, loans of $379.368, total resources of $647,693 and a capital of $100,000. The closing today was announced as action taken by the board of directors. Finance Department examiners had been making an inspection of the Federal Trust. the Kansas City Terminal Trust Co., which was closed Saturday, and the Waldo bank before the closings were announced. State Bank at Thayer. Kan., Closes; Deposits $165,000. Special TOPEKA Kan., Nov. The Thayer State Bank was closed today by order of the board of directors. This is the only Kansas bank thus far affected by the closing of the Federal Trust Co. of Kansas City. Mo. The Thayer bank had the larger part of its reserves tied up in the Federal Trust and it also had purchased a large amount of Federal paper. These two conditions brought about the et sing of the bank today. The bank had a capital of $10,000 and a surplus of $5000. There were deposits of $165,000 and loans of $129,000. Run on Kansas City Bank Turned Into Public Reception. KANSAS CITY Nov. A "run" on the Park National Bank here today was turned into a public reception with flowers and smiles. The Park National. a neighborbood bank. opened and found 200 depositors lined up to get their money. Every one was paid and then at one end of the room a man stood on a chair "I anf W. J. Bailey.' he said. "I am governor of the Federal Reserve Bank. This bank is a member of the Federal Reserve system. The Federal Reserve Bank guarantees that depositors in this bank will not lose one cent." The assembled depositors cheered and Bailey shouted: "There are 200 million dollars behind that guarantee. Balley said officials and examiners of the Federal Reserve Bank had gone over the Park National Bank's 'paper' yesterday and found the bank to be as good shape as any bank in Kansas City."

2. November 15, 1926 Springfield Leader and Press Springfield, MO

Article from Springfield Leader and Press, November 15, 1926

Click image to open full size in new tab

Article Text

"RUN" ON BANK TURNS INTO A RECEPTION KANSAS Nov the Park National bank turned into public Park opened and 200 ors lined up money Every and then at the end the room man stood on am W Balley he am Federal Reserve the Federal The Reserve that deposit. Federal ors in this not one assembled depositors cheered 200 million dollars guarantee Balley officials Reserve bank tional and found the good bank Officials "run" started the result which circulated close Federal company and the Terminal Trust company

3. November 15, 1926 The Sedalia Democrat Sedalia, MO

Article from The Sedalia Democrat, November 15, 1926

Click image to open full size in new tab

Article Text

ON BANK ENDS WITH The Associated Press. KANSAS CITY, Mo., Nov. the Park National Bank today turned into pub lic reception with flowers and smiles. The Park National, neighborhood bank, opened and found depositors lined up to get their money. paid and then one end the room chair. he said. governor the Federal Reserve Bank. This bank member Federal Reserve System. The Federal Reserve Bank guarantees that depositors this bank will not The assembled depositors cheered Mr. Bailey shouted: are million dollars that guarantee." Gov. Bailey said officials and aminers the Federal Reserve Bank had the Park Natgone and found the bank good shape bank in Kansas Officials the "run" started result which here Saturday following the close the Federal Trust Company the Terminal Trust Company.

4. November 16, 1926 Evening Star Washington, DC

Article from Evening Star, November 16, 1926

Click image to open full size in new tab

Article Text

TWO BANKS CLOSE; THIRD AVERTS RUN Kansas City Institutions Allied With Federal Trust Company Affected. By the Associated Press KANSAS CITY. November 16.--Two small banks. whose affairs were linked with the closed Federal Trust Co. here. closed yesterday and another small bank averted a run by depositors when cash reserves were called in and displayed. The Waldo State Bank. a suburban institution. and the Thayer State Bank of Thayer. Kans., were the two banks which closed. The Park National Bank. a neighborhood bank here. turned a run into A public reception when W. J. Bailey, governor of the Federal Reserve Bank of Kansas City. told about 200 depositors who had gathered that the bank was backed by the Federal reserve system and guaranteed them they would not lose "a cent. Reasons for Anxiety. Uneasiness which followed the closing of the Federal Trust Co. Friday and the Terminal Trust Co. here Saturday was blamed for the gathering of the depositors. The Waldo Bank's deposits at the time of its last statement were $536.281.31. The deposits in the Thayer bank were only $165.000. A large part of the reserves of the Thayer bank were deposited in the Federal Trust Co. The Waldo bank was a correspondent bank of the Federal Trust and J. G. Laughlin, secretary of the board of directors. was a brother of P. E. Laughlin, president of the Federal Trust Co. Both the Waldo State Bank and the Terminal Trust Co. had part of their cash reserves deposited in the downtown trust company. Officials of all the closed banks said they were sound and that they would be reorganized as soon as the affairs of the larger bank were adjusted.

5. November 16, 1926 The South Bend Tribune South Bend, IN

Article from The South Bend Tribune, November 16, 1926

Click image to open full size in new tab

Article Text

"RUN" ON BANK STOPS. Depositors Cheer When Institution Declared Solvent. Associated KANSAS CITY, Mo., Nov. 16.-A on the Park National bank here was turned into public reception with flowers and smiles. The Park National, neighborhood bank, openand found 200 depositors lined up their money. Everyone was paid. When governor the Kansas City Federaol bank, said the bank was solvent, the depositors cheered, The Waldo State bank, small neighborhood institution, failed open its doors here Monday. It was the bank to close within three days. The Federal Trust company, bank with total closed Friday and the Terminal Trust bank which had part of its cash the Trust closed Waldo bank was correspondent, band of the Federal Trust company.

6. November 16, 1926 Muskogee Daily Phoenix and Times-Democrat Muskogee, OK

Article from Muskogee Daily Phoenix and Times-Democrat, November 16, 1926

Click image to open full size in new tab

Article Text

RUN ON BANK AVERTED BY DISTRICT GOVERNOR Depositors Heed Plea of Federal Reserve Chief; Trace Rumor of Failure KANSAS Mo., Nov. threatened run the Park National bank, south side suburban institution, today by Bailey, governor of the tenth federal reserve district line of depositors had gathered at the bank and were intent upon deposits. Bailey, mounting chair in front of the door, told the crowd they had need fear loss; that the federal stood behind their deposits. nearby business men followed and declared they would not only refuse withdraw their counts but would deposit more. The crowd dispersed. Guards brought along sacks of rency and coin to pay Insisted upon withdrawing their money. Burns detectives were assigned to down the source of rumors that the bank was

7. November 17, 1926 The Weekly Kansas City Star Kansas City, MO

Article from The Weekly Kansas City Star, November 17, 1926

Click image to open full size in new tab

Article Text

CITY SEES ROY AL PARTY. Princess Springs Wheeze and the Wife Lost Jam. Well. as Princess Ileana marked. "the royal party not have seen much Kansas but Kansas City certainly the royal party Queen Marie's train did not arrive until after dark left for St. Louis shortly after midnight Good natured crowds got out of hand and somewhat impeded the progress of the royal party the committee from the the Liberty to the Hotel where dinner was served in to American Royal for musiin honor of the home Jacob and back Rather busy six hours one might say Leaving the Mrs A Beach the mayor separ ated from the party. writer was introduced and entered the car with reed HITS CAPITAL DRAFT. Princess Nicolas. Princess lleana and Councilman George Goldman "Call what my name the Coolidge War Proposal. prince remarked Your name, said the princess with St. James A. Reed is "is sued statement Saturday assalling as right responded her brother 'monstrous fallacy' the principle of "all Heana capital indorsed by PresiHe pronounced the first part of the dent Coolidge in his Armistice day ad- word like the part "Illinois. They both laughed. dress "If such law were passed, the right like the Americans do. Prince Nicolas to life property guaranteed said by the Constitution would be abro It's English the name is Helen. the princess explained would be only one result 'What the difference asked the dollar laughing. "between hairdresser and go the entire sculptor?" chinery of trade and would Some of the party knew but they said they Senator Reed saw menace too, in the hairdresser curis up and proposal which said subject began the princess. women children the draft He while sculptor makes faces and blamed fathering the idea. busts.' cut in the prince on the theory that profiteers encouraged buffet supper was served. Governor wars. Baker Missouri Queen The proposal conscript capital and Marie Paulen of Kansas fol well power. in time lowed with Heana and Mayor of war has been urged by the American Beach was third with Mrs. Loose Legion for several THREE BANKS FAIL. ONE SAVED Federal Kansas City, Closes. Down. Beginning the closing of the Federal Trust last week. three Kansas institutions closed doors. The P. E. Laugh Iin operated apart from the deposits million Laughlin bank examiner The day the Terminal Trust Company its $30,000 was the Federal Trust Monday the Waldo State Bank cashier and secretary of the brother of E. The Waldo and banks paratively institutions run started Monday on the Park Bank and avenue. ended when governor of the Kansas City Federal Reserve Bank, told two and women in line that the Bank with 200 behind Park National was taken the bank th crowd watched. The run ended. The Thayer Bank Thayer. Kas., Monday is the only Kansas bank thus far affected by the closing of the Trust Company in Kansas City The Thayer large part its tied up the Federal Trust and also had bought large amount of Federal Trust paper. in Sears Roebuck Thefts The of an alleged out of the Roebuck in Kansas revealed this week the police with the arrest three employees. assistant auditor and garage manager former employee the company The goods valued $5,000 consisted of sets, gung and household furnishings. "WAR LOST BUT FOR U Critical Moment. Chicago- great part taken by our country the favorable clusion the World War," and 'there is little doubt the contest would have terminated had it not been that the assistance sent by America arrived at the critical moThus General Pershing. commander chief the American forces in the World War, paid tribute Armistice day to the under his command. in an address before meeting of the KIclubs here The the United States will not be far off "if the comes when public virtually bought and sold either or indirectly General Pershing "In the light recent in cer tain states.) of our citizens would modify the of se lecting candidates for office. He made plea for preparedness, tending that "if could have armed and equipped even half million men and sent to France early in 1917. the probabilities are that the war could been won that year General Pershing's Armistice day address. carried the European caused considerab abroad Marshal Foch was as he "always had Persh ing his friend and had not believed he would statement. KANSAS Grand Recommends New Law for Annual Investigations. Sweeping criticism of the management of affairs in Kansas City Kas. and Wyandotte County was set out Monday in the final of the Wyandotte County grand jury The criticism was from standpoint of onstructive improvement with to keeping the tax rate down. The jury the city work for law providing for annual grand juries.

8. November 18, 1926 The Milan Republican Milan, MO

Article from The Milan Republican, November 18, 1926

Click image to open full size in new tab

Article Text

FLOWERS, SMILES AND CASH TURN RUN ON BANK Park National Bank of Kansas City Greet the Crowd With Money and Courtesy and Turns the Run Into a Rush of Depositors. Kansas City, Nov. "run" on the Park National Bank became almost public reception today, with flowers and smiles. Every one who wanted his money got it, but most of the 200 depositors left to be boosters when Gov. W. Bailey of the Federal Reserve Bank mounted chair and told them the bank was in an un usually strong financial condition. At o'clock, the opening hour. approximately 200 depositors were milling nervously around the door. Checks were in evidence, already fill. ed out, presumably for total balances. Nicely timed at exactly nine o'clock, the sirens of motorcycle policemen came screeching from the north. They swooped down to the front of the bank. came to quick stop and formed circle around vehicle they were escorting. It was armored truck from the Federal an Reserve Bank. A lane formed to the bank was door. and stream of money poured out of the armored truck and into the bank. As soon the money had as been safely stored away the doors were open to the public. swung stood on either side. In pretty girl their arms were great masses of pink carnations. One was handed to each entering. In one end of the person room man stood on chair. He asked that all persons in the street be crowded into the bank and when the lobby was full the officers' desk quarters were opened so all could be squeezed into the room. W. the man am the chair announced. am governof the Federal Reserve Bank. This or bank is member of the federal serve system." Gov. Bailey went that the Federal Reserve Bank say officials and examiners had gone over the Park National Bank's paper and found that bank to be in terday in bank in Kan. as good shape as any City. It being in unusually strong sas condition. The lines melted away from windows and in few minutes paying was being deposited more money than was being drawn out. kitchen shower at the home of Earl Mr. and Mrs. John Hudson and Mr. and Mrs. Hudson Cooper entertained the bridal party at Sunday night the feature of the evening supper, being private motion pictures which Miss Hudson and her mother After the wedding reher sal the bridal party was entertained the home of Mr. and Mrs. Flint Shinn. The out of town guests following Miss Ellen Steel of present: Philadelphia, Pa.; Mr. J. Hughes of Kansas City, Mo.; Mr. and Mrs. Eubanks and Mr. Mrs. Mac of Milan, Mo.; Miss Faith banks of Mr. and and Misses Kate City, Mrs. Berry and BedHudson Kansas

9. December 5, 1926 The Los Angeles Times Los Angeles, CA

Article from The Los Angeles Times, December 5, 1926

Click image to open full size in new tab

Article Text

'Pioneers' Will Honor Carl Laemmle FLOWERS STOP BANK COLLAPSE Worried Depositors Met at Door With Carnations Run on Institution Started by Malicious Rumor Timely Arrival of Cash Car Also Factor KANSAS CITY (Mo.) Dec. 4. (Excarnations handed to excited depositors during brief run suburban bank here are credited doing as much as anything else to stem the tide of nervousness in to save the bank So convinced are the officials of the bank that the run was inspired enemies assigned tectives to the parties, who the before the run began, telephoned countless and told to remove their funds once. The run on the bank. the Park Naat the opening hour the tional, began after the rumors had been Monday The officials had been warned in advance prepared emergency. There was no meet the that the bank was secure, but doubt failure there other banks in the four days here, two of them dent institutions, cultivated field for rumors. TWO WAYS OUT The bankers decided on two ways One to convince the depositors the bank was sound and the other was sacrifice the bank paying every patron and then closo'clock the morning the run began line almost 100 persons in front the bank. As the doors of the building were opened the turned and saw the armored of the Tenth District Federal Reserve Reserve Bank pull up at the curb and guards take their position to guard the cargo. The display was nicely timed and crowd was forced make way for guards carried the bulgsacks of silver and gold into the bank, together with the large packThis dulled the edge of the run, but the big show was yet to come. GREETED BY FLOWERS the crowd surged into the bank was greeted by three smiling girls handing out Many in the crowd recalled attending openings flowers, none ever heard of an instituof finance passing out favors at what appeared be its doomsday. The effect the flowers was check the big rush to the tellers' windows. Many men wrote out

10. December 7, 1926 Springfield Evening Union Springfield, MA

Article from Springfield Evening Union, December 7, 1926

Click image to open full size in new tab

Article Text

Run on Bank Stopped by Flood of Specie on the Park National Bank, 4628 Troost Avenue, became almost public reception, with flowers wanted his money got but most the 200 Gov. Bailey the Federal Bank mounted them was in unusually strong condio'clock. the opening hour, apthe door. filled out for total balances. Nicely timed at exactly o'clock the motorcycle from They down the bank. came to and formed circle around vehicle they corting. was an armored truck from Federal Bank lane the bank door and of money the armored the bank. There bills, big large than could have tied up. There little sacks clinking gold, silWithal took siderable the that crowd of that had been freely displayed of sight for the most part, the line As as the had been doors public. stood pretty girl. In their arms great masses carnations. was handed to entering. Cashiers and tellers at their places, great and gold piled behind wicker windows, where all might They checks as fast presented. avoiding any appearance smiling as In one man chair. He asked street crowded bank and lobby was full ficers' spaces opened all could be into the room. Bailey, the man the the Federal This bank of the Reserve system. Gov. Bailey went on to say the Federal and for tem the yesterday found that bank to be good shape any bank in Kansas City banks marshaled 50 cent deposits hours as bank he continued. not blame for being alarmed at that been but by your actions today you injuring yourselves, community and your will not home busihe stepped off the chair amid applause. melted away the pay. ing windows and minutes money was deposited being drawn City Star. Home, Sweet Home. Newlywed. estate salesto home: buy home? hospital ward, reared boarding school, educated college, and married church: get meals cafeteria, an apartment: spend my mornplaying golf. afternoons playbridge: the dance when sick the when die shall buried from an undertaker's. should buy house, need garage with bedroom. Another Long Felt Want. Some genius should device person who alone in the house into the bath tub. will disconnect foorbells. Louisville Times.