Article Text
Bank Suspension. ST. LOUIS, October 17.-A Sedalia. Mo.. dispatch says the First National Bank of Warrenburg, Mo., has suspended, owing to the steady withdrawal of deposits.
10878. First National Bank (Warrensburg, MO)
Bank Information
- Episode Type
- Run → Suspension → Closure
- Bank Type
- national
- Bank ID
- 1856
- Charter Number
- 1856
- Start Date
- October 17, 1878
- Location
- Warrensburg, Missouri (38.763, -93.736)
Metadata
- Model
- gpt-5-mini
- Short Digest
70159a7f
Response Measures
Full suspension, Books examined
Other: Receivership appointed; later dividends paid by controller of the currency.
Receivership Details
- Depositor recovery rate
- 100.0%
- Date receivership started
- 1878-11-01
- Date receivership terminated
- 1881-03-15
- OCC cause of failure
- Losses
- Share of assets assessed as good
- 30.6%
- Share of assets assessed as doubtful
- 65.5%
- Share of assets assessed as worthless
- 3.9%
Description
Multiple contemporaneous reports (Oct 17-24, 1878) state the First National Bank of Warrensburg, MO, closed after a continuous/steady withdrawal of deposits (a run) and posted a notice that it would close because it could not realize assets without sacrifice. A receiver (J. H. Kinsel) was later appointed (reported Nov 1878). The bank did not resume normal operations; by 1880 controller reports show dividends paid by receiver. OCR variants in articles spell Warrensburg as 'Warrenburg' or 'Warrensburg'; corrected to Warrensburg.
Events (5)
1.
July 31, 1871
Chartered
- Source
- historical_nic
2.
October 17, 1878
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- Continuous/steady withdrawals of deposits that the bank could not meet; inability to realize on assets without sacrifice prompted depositors to withdraw.
- Measures
- Bank officers posted notice and closed the doors; assured depositors they would lose nothing.
- Newspaper Excerpt
- The First National Bank of Warrenburg, Mo., has suspended, owing to the steady withdrawal of deposits.
- Source
- newspapers
3.
October 17, 1878
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Suspension/closure declared due to steady withdrawal of deposits and inability to realize assets without great sacrifice.
- Newspaper Excerpt
- Owing to the withdrawal of the deposits of this bank, together with the impossibility of realizing on its assets, without a great sacrifice, the officers deem it expedient to close the doors.
- Source
- newspapers
4.
November 1, 1878
Receivership
- Source
- historical_nic
5.
November 5, 1878
Receivership
- Newspaper Excerpt
- J. H. Kinsel, will adjust the accounts of the First National Bank as Receiver.
- Source
- newspapers
Newspaper Articles (10)
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The following notice, signed by A. W. Ridings, president, was found posted on the door of the First National Bank, at Warrensburg, last Thursday morning: "Owing to the withdrawal of the deposits of this bank, together with the impossibility of realizing on its assets, without a great sacrifice, the officers deem it expedient to close the doors." It is generally thought that depositors will be paid in full, though no details of causes for the suspension have been made known. In addition to other financial convulsions in England 'now comes the local cotton strike in Glasgow. The employes of Grant's cotton factory, to the extent of 1,400 hands, have struck against the reducton of ten per cent on wages, intimated to them as probable more than a fortnight ago. Two of the delegates to the Sedalia convention, Dr. C. Raub and Philip Dougherty, have issued a call for a new workingmen's convention to nominate state and other officers. There seems to be a lack of harmony. The Latayette county grange, elsewhere in this paper. recommends the proposed constitutional amendment to be voted on at the approaching election, It will be found fully set forth in another part of this paper. The Clyde shipbuilders have notified their workmen of a reduction of seven and a half per cent in their wages, to date from the 22d of the present month. The reduction affects 40,000 employes. Lieut. Benner, who gallantly volun. teered to go south with the national relief boat, John M. Chambers, died, Thursday moning, at Vicksburg, of yellow fever.
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GENERAL GOSSIP. Senator Lamar, of Mississippi, is visiting Col. II. S. Comb, at Wilmington, Delaware. Mrs. Ida Greeley Smith's son is to be named and known as "Horace Greeley, Jr." Out of the few persons in Chattanooga who have died of yellow fever two were physicians. The First National Bank of Warrenburg, Mo., has suspended, owing to the steady withdrawal of deposits. Mr. Conkling will invariably be found leading public sentiment whenever he has discovered in what direction it desires to go. George W. Hoxie, assistant district attorney of Brooklyn, will resign. He corfesses having appropriated government funds, which he says he lost in Wall Street. A Petersburg, Va., special says that during a Republican meeting on Wednesday, at Hicksford, Wm. A. Reese, a member of the Legislature, shot a negro named Trotter dead. E. A. Cronin, the man who organized an electoral college in Oregon all by himself, and attempted in the face of a clear Republican majority to cast the vote of the State for Tilden, is dead. The wheat crop of Pennsylvania for this year is now generally estimated at about 18,750,000 bushels. This is the best crop obtained since 1871, and averages a yield of about 15 1-2 bushels to the acre. Messrs. S. S. Cox and J. S. C. Blackburn are announced as candidates for the Speakership against Mr. Randall. As neither one of the three gentlemen has been re-elected the canvass for the gavel seems a little premature. At Suffolk, Va., the trial of W. P. Atkinson, charged with the murder of his wife by poison, was concluded on Wednesday. He was found guilty of murder in the second degree, and sentenced to the penitentiary for five years. John Munroe & Co., of New York, on Thursday remitted $4,000 gold to Secretary Evarts, being the third instalment of the French subscriptions for the yellow fever sufferers received from their Paris house, making in all $14,000 to date. During our civil war Sir Garnet Wolseley visited the Confederate army and formed the opinion that Leo was the greatest military genius since Napoleon, and that he was greater than tion. the German generals of this generaIn the Seventeenth Congressional District of New York the unusual spectacle is presented of two brothers running for Congress. One has been nominated by the Republicans and one by the Democrats. The initial letters of their names are also the same. The Springfield Republican now casts its engle eye over the field and observes that Thomas A. Bayard, of Delaware, is the only Presidential candidate of either party who remains perfectly erect on his legs. As to the Republicans, it thinks their man will
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THE NEWS CONDENSED. DEATH OF BISHOP RO BENCRANS. Right Rev. Sylvester H. Rosencraps, bishop of Columbus, died on the 21st inst., at Columbus, Ohio, of hemorrbage of the lunge. POISONED. The whole family of John Sulliven, wife and five children of Syracuee, N.Y., are severe sufferers from poison, probably arsenic. Quarrelsome neighbore suspectedDEAD. Henry E. Higgs, an old resident of Winona Minn., died after short illness, aged 65 years. He was formerly a wealthy merchant and ship-owner at Bermuda. FORGERIES. The Union bank of London telepraphs their agents in New York that the ten pound circular notes offered for sale are forgeries. A number of them have been n gotiated in that city. DIED OF GRIEF. Near Kennedyville. Maryland, George Nelson, while climbing a fence, was instantly killed by the accidental discharge of his gun. His mother died of grief six hours after receiving news of the accidentINDICTED. Advices from New Haven, Conn., state that in the case of Rev. H. Hayden, charged with the murder of Mary Stannard, the grand jury, after two days consideration, found true bill of murder in the first degree. FATAL PANIC. During a marriage at the colored Baptist church at Lynebburg, Va., crowded to its utmost capacity, a piece of plaster fell creating a panic of the most dreadful charactor. Several were killed and many wound. ed. DROWNED AT SEA. The bark Susan, of New Bedford, Captain Peaks, which left New Bedford Oct. 12, with a crew of twenty-five men, on a whalvoyage, encountered a hurricane, capsized, and all but three of the twenty-five were drowned. KILLED. A colored preacher, at Little Rock, Ark., named Houston, was attacked by unknown colored men on the 21st inst.. and pounded until insensible. He died at an ear ly hour next morning. Several arrests have been made. GRAVE ROBBERS SHOT. A Nashville, Tennesee telegram Fays great deal of excitement prevailed in that city over an attempt to open a grave in Mount Olive cemetery. The guard shot and wounded the parties who got away, and are unknown. Blood tracks are discovered. EXPLOSION. A Detroit Free Press special from Big Rapids, Mich., says the boiler in Sellenger's shingle mill at that place exploded on the 15th inst., killing one man and seriously in juring five others. Mill badly damaged Lose unknown. Cause of explosion not known. BURNED. A boarding house in Bostor, Mass., was burned on the 15th hist., The upper roome were filled with boarders. Mary Jane Camp. bell was burned to death. The rest escaped One of the boarders jumped from a third story window and was caught in a blanket un. injured, RECOVERED. The box stolen from the First National bank of Fishkill Landing, N. Y., by burglars, was found in the woods near the spot where the robbers abandoned their horses and wagon and took to the freight train. The contents, consisting of bonds and mortgages, valued at from $60,000 to $100,000, were undisturbed. HEAVY FAILURE. The failure of Stagle Bros., of Greenfield, Ohio, is the heaviest which has occurred in that section for years. They owned the largest farm in Fayette county, it comprising 2,200 acres, and were to all appearances doing a lucrative business. Liabilities exeeed $120,000 and the assets are probably 10 per cent. DEPOSED. In the German Methodist Conference in Winona to which was reforred the case of Rev. H. Lampriecht, presiding elder of the Charles City, Iowa, district, charged with im. moral conduct, a verdict was found deposing him from the office of preacher, but permitting him to remain a member of the Methodist Episcopal church. NEGRO RISING. Two hundred and fifty negroes surrounded Waterproof, La., on the 15th Inst., and treatened to burn and sack the town It is supposed they burned J. Senegar's place on Lake St. John, four miles below Water. proof. A call for armed assistance was made on Natchez, and 100 men left on the ferryboat to aid the whites at Waterproof if needed. MEXICAN INDIANS. A party of twenty-five Indians crossed from Mexico into southwestern New Mexico several days ago and killed three ranchmen and an expreseman between Silver City and Globe City. The body of the expressman was brought to Silver City and buried on the 17th. They stole a number of horses and mules on Gila river. The mail west toward Arizona is suspended. ROBBER CAPTURED. A Kansas City telegram says, Reurke, the man captured in an attempt to rob the Kansas Pacific train near Fort Harker, was the leader of the gang who robbed the Kansas City, St Joe & Council Bluffs train last spring near Wintbrop on the Santa Fe road, near Kinsley, Kansas. A reward of $5,000 had been offered for him for some time. His capture will break up a desperate gang. BANK FAILURE A Sedalia, Mo., dtspatch states that the Frat National bank of Warrensburg has closed its doors. The following noticed was posted on the door: "Owing to a steady with. drawal of deposits and its inability to realize on the assets without a sacrifice, the officers of the bank deem it expedient to close Its doors. The officers assure depositors that they will lose nothing." MASSACRE. A letter from Mexico says that September 29th, at Atzola, a mob, incited by priests, killed twenty Protestants and wound ed number of others. The Governor sent
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The First National Bank of Warrensburg, Mo., closed Thursday morning on account of a continuous run which rendered such action expeditious. As usual, it is stated that nobody will loose anything.
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Right Rev. Sylvester H. Rosencrans bishop of Columbus, died on the 21st] a Columbus, Ohio, of hemorrhage of the lungs POISONED. The whole family of John Sullivan wife and five children of Syracuse, N. Y., are severe sufferers from poison, probably arsenic Quarrelsome neighbors suspected. DEAD. Henry E. Higgs, an old resident o Winona Minn., died after short illness, age 65 years. He was formerly a wealth merchant and ship-owner at Bermuda FORGERIES. The Union bank of London telegraph their agents in New York that the ten pound circular notes offered for sale are forgeries A number of them have been n gotiated in that city. DIED OF GRIEF. Near Kennedyville, Maryland, George Nelson, while climbing fence, was instantly killed by the accidental discharge of his gun His mother died of grief six hours after re ceiving news of the accident. INDICTED. Advices from New Haven, Conn., state that in the case of Rev. H. Hayden, charge with the murder of Mary Stannard, the grand jury, after two days consideration, found true bill of murder in the first degree. FATAL PANIC. During a marriage at the coloreo Baptist church at Lynchburg, Va., crowded to its utmost capacity, piece of plaster fell creating panie of the most dreadful char acter. Several were killed and many wound ed. DROWNED AT SEA. The bark Susan, of New Bedford Captain Peaks, which New Bedford Oct 12, witha crew of twenty men, on a whal voyage, encountered a hurricane, capsized and all but three of the twenty-five wer drowned. KILLED. A colored preacher, at Little Rock Ark., named Houston, was attacked by un known colored men on the 21st inst., an pounded until insensible. He died at an ear ly hour next morning. Several arrests hav been made. GRAVE ROBBERS SHOT. A Nashville, Tennesee telegram says great deal of excitement prevailed in the city over an attempt to open a grave i Mount Olive cemetery. The guard shot an wounded the parties who got away, and ar unknown. Blood tracks are discovered. EXPLOSION. A Detroit Free Press special from Bi Rapids, Mich., says the boller in Sellenger shingle mill at that place exploded on th 15th inst., killing one man and seriously in juring five others. Mill badly damaged Loss unknown. Cause of explosion no known. BURNED. A boarding house in Boston, Mass., wa burned on the 15th inst., The upper room were filled with boarders. Mary Jane Camp bell was burned to death. The rest escaped One of the boarders jumped from a thir story window and was caught in ablanket un injured, RECOVERED. The box stolen from the First Nationa bank of Fishkill Landing, N. Y., by burglars was found in the woods near the spot wher the robbers abandoned their horses and wago and took to the freight train. The contents consisting of bonds and mortgages, valued a from $60,000 to $100,000, were undisturbed. HEAVY FAILURE. The failure of Stagle Bros., of Green field, Ohio, is the heaviest which has occurre in that section for years. They owned th largest farm in Fayette county, it comprising 2 200 acres, and were to all appearances doing a lucrative business. Liabilities exeeed $120 000 and the assets areprobably 10 per cent. DEPOSED. In the German Methodist Conference in Winona to which was reforred the case o Rev. H. Lampriecht, presiding elder of the Charles City, Iowa, district, charged with im moral conduct, verdict was found deposing him from the office of preacher, but permit ting him to remain a member of the Metho dist Episcopal church. NEGRO RISING. Two hundred and fifty negroes sur rounded Waterproof, La., on the 15th inst. and treatened to burn and sack the town Itis supposed they burned J. Senegar's place on Lake St. John, four miles below Water proof. A call for armed assistance was made on Natchez, and 100 men left on the ferryboa to aid the whites at Waterproof if needed. MEXICAN INDIANS. A party of twenty-five Indians crossed from Mexico into southwestern New Mexico several days ago and killed three ranchmer and an expressman between Silver City and Globe City. The body of the expressmar was brought to Silver City and buried on the 17th. They stole a number of horses and mules on Gila river. The mail west toward Arizona is suspended. ROBBER CAPTURED A Kansas City telegram says, Reurke the man captured in an attempt to rob the Kansas Pacific train near Fort Harker, was the leader of the gang who robbed the Kansas City, St. Joe & Council Bluffs train last spring near Winthrop on the Santa Fe road, near Kinsley, Kansas. A reward of $5,000 had His been offered for him for some time. capture will break up desperate gang. BANK FAILURE. A Sedalia, Mo., dtspatch states that the Frst National bank of Warrensburg has closed its doors. The following noticed was posted on the door: "Owingto a steady with drawal of deposits and its inability to realize on the assets without a sacrifice, the officers of the bank deem it expedient to close its doors. The officers assure depositors that they will lose nothing. MASSACRE. A letter from Mexico says that September 29th, at Atzola, a mob, incited by priests, killed twenty Protestants and wound. ed a number of others. The Governor sent troops to quell the disturbance, In Pueblo a mob threatened to breake up the Protestant missions. President Dias has promised Rev. Dr. Butler to do all in his power to protect the various denominations. BIG SUIT. J. H. Burke, a stockholder of the Consolidated Virginia Mining company, has brought suit in the Twenty-third district court of California, to recover from J. Good, J. W. McKey, J. G. Fair and the Pacific Mill & Mining company, $26,000,000, alleged to ave been wro: gruny taken from the stock. holders of the Consolidated Virginia by de. fendants in the manipulation of ore and retention of tolling of the company. POISONED. At the town of Agalla, Barthelomew county, Indiana, on the occasion of marriage supper, some fiend, in the momentary absence of the guests from the supper room, put strychnine in bowl of chicken salad. All who partook of it were seized with violent cramps and spasms, but by the speedv presence of a physician the lives of all were saved though so e remained seriously ill. It is conjectured that rejected suitor of the bride was guilty of the foul crime. HONORS TO ADMIRAL PAULDING. 2 The secretary of the navy has issued an
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WEST AND SOUTH. The Republicans of Iowa; through their State Central Committee, have decided to pay no attention to the Congressional elections in November, considering the elections held in October as entirely legal. The fourteenth annual convention of the International Brotherhood of Locomotive Engineers met in Indianapolis on the 16th. About 100 delegates were present. During a marriage at the colored Baptist Church at.Lynchburg, Va., on the night of 16th, the church being crowded to its utmost capacity, a piece of plastering fell, creating a panic of a most dreadful character. Ten persons were killed and a large number wounded. The California Constitutional Convention adopted a resolution, OR the 16th, to memorialize the President and Senate of the United States to so modify the Burlingame treaty as to prohibit Chinese immigration. The Delaware Greenback State Convention was held at Wilmington on the 17th. Dr. K. J. Stewart was nominated for Governor, and John G. Jackson for Representative in Congress, The First National Bank of Warrensburg, Mo., closed its doors on the 17th. The steady withdrawal of deposits and inability to realize on assets without sacrifice, is the cause assigned. Depositors are assured that they will lose nothing. The editor of the Natchez Democrat returned from Waterproof, La., on the 17th, and published a statement in his paper that the reports which have been circulated so exten sively in regard to the troubles there have been extravagantly exaggerated. There is no evidence that any conflict had oecurred, and the editor concludes from what he had personally seen that there has been no probability at any time of a dangerous out break. The missing Cheyennes, it was reported in Yankton, D. T., on the 18th, had crossed the
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WARRENSBURG. -H. Martin Williams is sick. -That Normal girl has rented a house. -Printer Hawkins is a candidate. Let the boys help him through, for he is worthy. -The Shewalter boys and Cresswell will rush into print next week in the columns of the Journal-Demserat. -That solid business man and good citizen J. H. Kinsel, will adjust the accounts of the First National Bank as Receiver. -Miss Nellie Vaughan,daughter of General Vaughan of Lexington in visiting her brother Jno. M. Vaughan, Esq.,who resides adjacent to Warrensburg.
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THE WARRENSBURG BANK FAILURE. EDITOR INTELLIGENCER:-Being In Warrensburg. Missouri, on Friday last. I took occasion to make some inquiries in regard to the suspension of the First National bank, of which A W Ridings, Esq was president. I met Col Kelly, the examiner sent out by the government to look into the condition of the bank. I am glad to say to the old friends of Mr. Ridings, that no blame is attributed to the officers of said bank. and Col. Kelly a uthorizes me to say, that be found all things conected with the bank correct. that he had never examined a bank whose business had been kept straighter, and that in R business running through a number of years, involving millions of dollars there was but R few dollars discrepency-less than $30. This was gratifying to me, and I know will be to the many friends of A. W. Ridings and James Ward, of R. this county. Respectfully, Lexington, Mo., November 2, 1878.
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One of them was caught and contessed that he and his companion had chloroiormed the Kiding family during the night, rifled the house of valuables, scattered cotton saturated with coal oil over the floor and on the bed, applied a match and then left. After hi, contession the man was pinioned, surrounded with pine splinters and burned to death. From Washington. PRESIDENT HAYES has accepted Secretary Thompson's resignation, and designated Secretary Ramsey to act as secretary of the nav. in addition to his duties as secretary of war. THE Senate has confirmed the nomination of John B. 1 eil to be governor of Idaho. THE following important changes in military departments have been made by order of the President: Brigad er-General O. O. Howard is assigned to the command of the department of West Point and to duty as superintendent of the military academy there, relieving MajorGeneral John M. Schofield, who has been appointed to the departments of Texas and Arkansas, constituting the military division of the Gulf, with headquarters at New Orleans; Brigadier-General C.C. Auger is assigned to the department of Texas; Colonel Henry J. Hunt, Fifth artillery, to the temporary command of the department of the South; Brigadier-General Nelson A. Miles to the command of the department of the Columbia, and Colonel R. S. Mackenzie, Fourth calvary, to the command of a misitary department to be known as the department of Arkansas, constituting the States of Arkansas and Louisiana and the Indian Territory, with headquarters at Little Rock, Ark. SECRETARY THOMPSON, of the navy department, who resigned his office to take charge of the American branch of De Lesseps' Suez canal project, the other afternoon took formal leave of his clerks and employees. SECRETARY RAMSEY has taken formal charge of the navy department, in addition to his duties as secretary of war. ACCORDING to the report of the bureau of statistics, the exports of provisions for the eleven months ending November 30, reached $128,000,000, which is $29,000,000 in excess of the same eleven months of last year. The increase over last year in three communities-bacon, (including hams,) cheese and lardwas nearly $22,00,000, divided RS follows: Bacon and hams, $9,000,000; cheese, $5,000,000. and lard, $8,000,000. THE controller of the currency has declared the following dividends to the creditors of in. solvent national banks: Lockhaven Nat onal bank, of Lockhaven, Penn., ninth dividend, sixteen per cent, making in all ninety per cent.; City National bank, of Chicago, sixth dividend, seven per cent., making in all seventy-seven per cent.; German National bank, of Chicago, fourth dividend, fitteen per cent., making in all seventy per cent.; National bank of the State of Missouri St. Louis, tenth dividend, five per cent., making in all ninety-five per cent.; First National bank of Warrensburg, Mo., fifth dividend, twenty-five per cent., making in all 100 per cent. THE following nominations have been confirmed by the Senate: Eugene Schuy o: New York, to be consul-general at Bucharest: illiam Lawrence, of Ohio, to be first comptroller of the treasury; Asa O. Aldis, of Vermont, commissioner ior the settlement of French and American claims. Foreign News. A CABLE dispateh says that at Portadown Ireland, a body of Orangemen attacked and dispersed a land league meeting, and that the Earl of Enniskillen grand master of the Irisb Orangemen, has appointed a vigilance com. mittee to protect the landlords. MR. RATCLIFFE, a member of the British parliainent, has been unseated for bribery in connection with his election, and his seat given to his opponent. THE London Daily Telegraph says that the government contemplates proclaiming martial law in the disturbed districts of Ireland. Lord Kenmare, who has large landed estates in Killarney, has discharged 300 laborers for connection with the land league. Trouble is expected to result. A MOB of 2,000 persons attempted to wreck the residence of Mr. Downing, a justice of the peace, at Bonniconlan, county Mayo, Ireland, after he had issued write of ejectment on some tenants. The police kept the people back at the point of the bayonet. Mr. Downing escaped on a car to Ballina, where he took the train for Dublin. A LONDON cable dispatch says that the entire interest ot the hour is centered in Ireland and the land question. It is clear to most peop e that the queen's government no longer has an existence in the sister island, but has been superseded-at least for the present-by the land league, whose decrees are no # promulgated in open day, executed with promptitude and vigor and respected implicitly. The league-as, by the way, it did in 1843has opened its own " law courts" for tria S ot cases and disputes, and the ordinary tribunals might as well be closed, because no witness will appear to testify before them, nor will any of their juries convict. The shopkeepers in the town who are obnoxious to the land league are now Boycoited" relentlessly, and for the moment Ireland is a part of the United Kingdom only in name." Meanwhile, troops moving into Ireland; "but," the dispatch says," the soldiers really offer no protection against the sentences of the land league, for they have no power to act except in case of actual insurrection, and the local