Farmers Bank - King City, MO

Bank Information

Episode Type: Suspension → Closure
Bank Type: state
Start Date: March 7, 1896
Location: King City, Missouri (40.051, -94.524)

Metadata

Model: gpt-5-mini
Short Digest: ac57c46b

Response Measures

None

Description

Articles (Mar 7–10, 1896) report the Farmers Bank of King City failed and the state bank examiner took charge. Cause given as inability to realize on loans (bank-specific adverse information). No explicit run is described. The bank appears to have been closed and placed in custody of the examiner/receiver.

Events (2)

1. March 7, 1896 Receivership

Newspaper Excerpt: State Bank Examiner Jones took charge of the Farmers bank of King City tonight. The Farmers' bank has failed. ... Cashier D. F. Robertson issued a statement ... The failure was due to inability to realize on loans. It is expected the bank will be reorganized in the near future. (New-York Tribune, Mar 10, 1896).
Source: newspapers

2. March 7, 1896 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Failure due to inability to realize on loans; liabilities exceed available cash and loans illiquid (assets insufficiently realizable).
Newspaper Excerpt: State Bank Examiner Jones took charge of the Farmers bank of King City tonight.
Source: newspapers

Newspaper Articles (3)

1. March 9, 1896 The Topeka State Journal Topeka, KS

Article from The Topeka State Journal, March 9, 1896

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Article Text

NEWS NOTES. The King City, Mo., Farmers' bank has failed. The English army estimates for 1896 amount to £20,940,778. The spoils of the Ashanti war are not worth over $10,000. The gold standard members of the English Parliament are to organize to fight international bimetallism. Cardinal Satolli was royally welcomed by the Catholics of Kansas City. Ed Murphy, alderman of St. Paul, has been convicted of running a disorderly house. At Waldo, Kan., the store of A. H, Roe was burned; loss, $15,000; partly insured. At Sedalia Sadie Everetts was sentenced to two years in the penitentiary for perjury. The defeat of the Italians in Abyssinia will canse a dissolution of the triple alliance. "Grist Mill" Jones of Oklahoma City is being boomed to succeed Delegate Flynn in Congress. Congressman Josiah Patterson of Tennessee is to make sound money speeches in Missouri. Dick Bland refused to meet him in joint debate. Senator Vest is said to be after the indorsement of the Missouri Democrats for President. At Oakley, near Salina, Kan., Ed Dodge, a prominent grain dealer, was accidentally shot dead while hunting. Nineteen Wisconsin counties have held conventions and all chose McKinley delegates. The Chicago private detectives who killed Frank White in mistake for his brother have all been convicted of manslaughter in the first degree. The settling of contesting delegations from the South to the St. Louis convention will require delicale handling. Dupuy de Lome, the Spanish minister to Washington, is out in a long defense of General Weyler, denying statements made in the House and Senate. Several hundred prominent Nebraska Republicans met at Omaha and indorsed Manderson's presidential boom. J. H. McVicker, manager of McVicker's theater, Chicago, and one of the oldest managers in the counrry, is dead, aged 74. His daughter was Edwin Booth's second wife. Because the father of Anna Pacheco objected to her marrying Edward Hack, Edward shot Anna through the heart and himself through the brain at Oakland, Cal. The Cuban amazons are playing an important part in the fights between the insurgents and Spanish troops. They have exhibited courage, endurance and fighting skill to a greater extent than many of the men.

2. March 10, 1896 New-York Tribune New York, NY

Article from New-York Tribune, March 10, 1896

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Article Text

WESTERN BANKS CLOSE THEIR DOORS. San José, Cal., March 9.-The Commercial and Savings Bank did not open this morning. A notice posted on the door states that the directors considered it wise to go into liquidation. The assets are far in excess of the liabilities, and all the depositors will be paid in full. An officer of the bank says that the assets are $1,100,000. and the liabilities $675,000. The surplus fund is $255,000. Bernard D. Murphy is president. The cause of the failure was a run on the bank Friday and Saturday last by some of the largest depositors. Many sums were drawn ranging from $10,000 to $16,000. Their anxiety was occasioned by a. mortgage placed upon some of President Murphy's property. This started a rumor that the bank was hard up, for which there was no foundation, Murphy .rerely placing the mortgage to rearrange some private debts. Stanberry, Mo., March .-The Farmers' Bank at King City failed Saturday. Cashier D. F. Robertson issued a statement to the publio, which says the assets are $74,000; bills payable, $17,000; deposits, $32,000; loans, $48,000; cash on hand, $5,000. The fallure was due to inability to realize on loans. It is expected the bank will be reorganized in the near future.

3. March 10, 1896 The Wichita Daily Eagle Wichita, KS

Article from The Wichita Daily Eagle, March 10, 1896

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Article Text

TELEGRAPHIC BREVITIES Warrensburg, Mo., March 7.-Edward Corder, aged 94, one of Missouri's earliest pioneers, died at his home near here today. Hudson, N. Y., March 7.-The Kinderhook and Hudson railway was sold at auction today for $100,000 to a committee representing the holders of first mortgage bonds. New York, March 7.-Theodore Ricksecker, manufacturer of perfumes and toilet articles, assigned today, with preferences of $22,000; assets and liabilities are not known. Washington, March 7.-The president has approved the bill granting the rightof-way to the Colombia and Red Mountain Railroad company through the Colville reservation, Washington. St. Paul, Minn., March 7.-A Butte, Mont., special says: Mat McGuire and Jacob Henke, miners, were instantly killed last night by an explosion of powder in their cabin near Sheridan. St. Joseph, Mo., March 7.-State Bank Examiner Jones took charge of the Farmers bank of King City tonight. King City is thirty miles east of this city, The liabilities are about $65,000; assets not given. Washington, March 7.-P. Tucker today resigned his position as deputy comptroller of the currency. having been appointed national bank examiner for the district of Ohio, the former examiner having resigned. Grand Rapids, Mich., March 7.-An order for the foreclosure and sale of the Grand Rapids and Indian railway was granted today in the United States court here. This is a victory for the second mortgage bond-holders. Aspen, Colo., March 7.-T. J. Tierney, agent of the Telephone company, and his guide, Jack Stewart, who were thought to have perished in the mountains between here and Independence, have been found alive and well. Oakland, Cal, March 7.-The father of Edward Hack. a young barber, had forbidden him to marry Andana Pacheco, and last night young Hack shot the girl through the heart and then fired a bullet into his own brain. Denver, March T.-Gaston Andre Mondhare, French consul at this place, died today of Bright's disease, He was 42 years of age and had held several positions in the consular service of his government. His remains will be sent to France,