Whipple Loan & Trust Company

Bank Information

Episode Type: Suspension → Closure
Bank Type: trust company
Start Date: May 28, 1897
Location: Kansas City, Missouri (39.100, -94.579)

Metadata

Model: gpt-5-mini
Short Digest: 6ae84829

Response Measures

None

Description

Articles (published early June 1897) report Whipple Loan & Trust Co. 'failed' May 28 and a receiver (Clarence Palmer) was appointed. No run or depositor panic is mentioned; failure followed pressure from eastern parties withdrawing funds placed on guarantee bonds (interpreted as correspondent/funder pressure).

Events (2)

1. May 28, 1897 Receivership

Newspaper Excerpt: Clarence Palmer was appointed receiver by Judge Philips. The appointment of a receiver was asked by John W. Hammond, of Chicago, a stockholder in the company to the amount of $10,000.
Source: newspapers

2. May 28, 1897 Suspension

Cause: Correspondent
Cause Details: Failure credited to pressure brought to bear by eastern parties, i.e., lenders/eastern correspondents whose money the company had put out on guarantee bonds, leading to inability to meet obligations.
Newspaper Excerpt: KANSAS CITY, Mo., May 28.-The Whipple Loan & Trust Co. failed Thursday.
Source: newspapers

Newspaper Articles (3)

1. June 2, 1897 The Leader Brookhaven, MS

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Article Text

Whipple Loan Company Fails. KANSAS CITY, Mo., May 28.-The Whipple Loan & Trust Co. failed Thursday. Clarence Palmer was appointed receiver by Judge Philips. The appointment of a receiver was asked by John W. Hammond, of Chicago, a stockholder in the company to the amount of $10,000. A. A. Whipple, president of the company, stated that the direct cause of the failure was pressure brought to bear by eastern parties, whose money the loan and trust company had put out on guarantee bonds.

2. June 3, 1897 Barton County Democrat Great Bend, KS

Article from Barton County Democrat, June 3, 1897

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Article Text

Whipple Loan Company Fails. KANSAS CITY, Mo., May 28.-The Whipple Loan & Trust Co. failed Thursday. Clarence Palmer was appointed receiver by Judge Philips. The appointment of a receiver was asked by John W. Hammond, of Chicago, a stockholder in the company to the amount of $10,000. A. A. Whipple, president of the company, stated that the direct cause of the failure was pressure brought to bear by eastern parties, whose money the loan and trust company had put out on guarantee bonds.

3. June 3, 1897 Abilene Weekly Reflector Abilene, KS

Article from Abilene Weekly Reflector, June 3, 1897

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Article Text

Whipple Loan Company Fails. KANSAS CITY, Mo., May 28.-The Whipple Loan & Trust Co. failed Thursday. Clarence Palmer was appointed receiver by Judge Philips. The appointment of a receiver was asked by John W. Hammond, of Chicago, a stockholder in the company to the amount of $10,000. A. A. Whipple, president of the company, stated that the direct cause of the failure was pressure brought to bear by eastern parties, whose money the loan and trust company had put out on guarantee bonds.