Central Bank (Kansas City, MO)

Episode Information

Episode UID
1383131491093
Episode Type
Suspension โ†’ Closure
Bank Type
state
Bank ID
138313149 hash
Start Date
January 22, 1891
Location
Kansas City, Missouri (39.100, -94.579)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
1e29be8abbb6ea13

Response Measures

None

Description

The bank voluntarily went out of business and was absorbed by another institution due to low profitability, not a run.

Events (1)

1. January 22, 1891 Suspension
Cause
Voluntary Liquidation
Cause Details
The bank went out of business and was absorbed by the Merchants' National Bank because profits were too small to pay adequate interest on capital.
Newspaper Excerpt
The Central Bank was absorbed to-day by the Merchants' National Bank, which will pay all claims. The Central Bank went out of business because the profits were too small
Source
newspapers

Newspaper Articles (10)

Article from The Record-Union, January 23, 1891

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Article Text

THE WOUNDED KNEE BATTLE. CHICAGO, Jan. 22.-Assistant AdjutantGeneral Corbin was asked if the official report on the investigation at the Wounded Knee battle condemns anyone, and he replied that it finds that Colonel Forsythe was unmindful of the instructions issued by General Mines against the very thing that happened that day. The reports that the inquiry freed the responsible persons from blame are erroneous. Financial Notes. KANSAS ICITY (Mo.), Jan. 22.-The run on the Kansas City Deposit and Savings Bank ended this morning. Since Monday it has paid out $150,000, and is prepared to pay in full the amount of deposits, $900,000. The Central Bank was absorbed to-day by the Merchants' National Bank, which will pay all claims. The Central Bank went out of business because the profits were too small to pay an adequate interest on the capital.


Article from The Morning Call, January 23, 1891

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Article Text

Kansas City Banks. KANSAS CITY, Jan. 22.-The - run on the Kansas City Deposit and Savings Bank ended this morning. Since Monday it paid out $150,000, and was prepared to pay the full amount of deposits-$900,000. The Central Bank was absorbed to-day by the Merchants' National Bank, which will pay all claims. The Central Bank went out of business because the profits were too small to pay au adequate interest on the capital.


Article from Los Angeles Herald, January 23, 1891

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Article Text

WIRE WAIFS. At Baltimore, Md., two unknown colored men from Pomeroy, Pa., were found asphyxiated by gas in the Eureka hotel. At Rahway, N. J., C. E. Pratt, a Wall street broker, shot and killed himself. No reason is known why the deed was committed. Surrogate Ransom decided that the marriage of Eva L. Hamilton to Robert Rav Hamilton was void, and that she is still the wife of Mann. James R. O'Neil, a freight conductor on the Chicago and Northwestern road, was shot and instantly killed at Long Point, Ia., by a tramp whom he attempted to put off the train. The run on the South Omaha branch of the Nebraska savings bank was continued Thursday morning, and as the depositors were paid in full, confidence was restored and the run ceased. Assistant Adjutant-General Corbin, of General Miles's staff. has returned to Chicago from Pine Ridge agency. He was not expected until Monday, but owing to the ill health of his wife he hastened his return. Business seems to have been practically suspended by the Chicago and Erie road between Huntington, Indiana, and Chicago. No train has arrived at or leit the latter place since Wednesday, and no attempt has been made since Tuesday night to move any freight. One of the Sheppard bove, who escaped from the officers at Rogers, Arkansas, was found dead in the baggage car when the train arrived there. He was shot and killed while trying to escape. Deputy Sheriff Wright, who was shot by the outlaws, will die. A review of the troops in the field took place Thursday morning about four miles from Pine Ridge agency. It attracted the attention of nearly all the friendly and hostile Indians on the agency. After the review there was a display of the transportation department of the army. There were three thousand men in the review. The run on, the Kansas City Deposit and Savings bank ended Thursday evening. Since Monday it paid out $150,000 and prepared to pay the full amount of its deposits, $900,000. The Central bank of Kaneas City has been absorbed by the Merchants' National bank, which will pay all claims. The Central bank went out of business because its profits were too small to pay the adequate interest on the capital. HEATH & MILLIGAN Prepared Paint ut


Article from The Morning News, January 23, 1891

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Article Text

KANSAS CITY'S BANK RUNS. That on the Deposit and Savings Bank at an End. KANSAS CITY, Mo., Jan. 22.-The run on the Kansas City Deposit and Savings Bank ended this morning. Since Monday the savings bank has paid out $150,000 to depositors, and was prepared to pay the full amount of deposits, $900,000. The Central bank was absorbed to-day by the Merchants' National bank, which will pay all its claims and receive all its funds and accounts. A RUN AT OMAHA. OMAHA, Jan. 22.-The run on the South Omaha branch of the Nebraska Savings Bank continued two hours this morning, and as the depositors were paid in full confidence was restored and the run ceased.


Article from Richmond Dispatch, January 23, 1891

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Article Text

A Bank Run Ended. [By telegraph to the Dispatch.] KANSAS CITY, Mo., January 22.-The run on the Kansas City Deposit and Savings Bank ended this morning. Since Monday the Savings Bank has paid out $500,000 to depositors and was prepared to pay the full amount of the deposits, $900,000. The Central Bank was absorbed to-day by the Merchants' National Bank, which will pay all its claims and receive all its funds and accounts.


Article from The Salt Lake Herald, January 23, 1891

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Article Text

Prepared to Pay Depositors in Full. KANSAS CITY, Jan. 22.-There was a run on the Kansas City Safe Deposit and Savings bank this morning. Since Monday it has paid out $150,000, and is prepared to pay the full amount of the deposits, $900,000. The Central bank was absorbed to-day by the Merchants' National bank, which will pay all claims. The Central bank went out of business because its profits


Article from Daily Yellowstone Journal, January 24, 1891

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Article Text

Couldn't Drain the Bank. KANSAS CITY. Mo,,Jan 22.-The - run on the Kansas City safe deposits and savings bank caused by its occupying quarters in the same building with the American National bank which suspended last Monday ended at ten o'clock this morning. Since Monday the Savings bank has paid out $150,000 to the depositors and was prepared to pay the full amount of deposits, $900,000. The Central bank was absorbed to-day by the Merchants National bank which will pay its claims and receive all its funds and accounts. The Central bank was entirely solvent and went out of business simply because its profits were too small to pay adequate intereste on $100,000 capital stock.


Article from The Semi-Weekly Tribune, January 24, 1891

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Article Text

Kansas City Bank. ANSAS CITY, Jan. 22.-The run on the sas City safe deposit and savings k caused by its occupying quarter in same building with the American onal bank, which suspended last day, ended at ten o'clock this mornSince Monday the savings bank has out $150,000 to depositors and was red to pay full amount of deposits, ,000. The Central bank was absorbed today by the Merchants National bank which will pay all its claims and receive all its funds and accounts. The Central bank entirely solvent and wentout of busi'simply because its profits were too 11 to pay an adequate interest on $100,000 capital stock.


Article from Bismarck Weekly Tribune, January 30, 1891

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Article Text

Couldn't Drain the Bank. KANSAS CITY, Mo., Jan. 22.-The run on the Kansas City safe deposits and savings bank caused by its occupying quarters in the same building with the American National bank which suspended last Monday ended at ten o'clock this morning. Since Monday the Savings bank has paid out $150.000 to the depositors and was prepared to pay the full amount of deposits $900,000. The Central bank was absorbed to-day by the Merchants National bank which will pay its claims and receive all its funds and accounts. The Central bank was entirely solvent and went out of business simply because its profits .were too small to pay adequat intereste on $100.000 capital stock.


Article from The Washburn Leader, January 31, 1891

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Article Text

Couldn't Drain the Bank. KANSAS CITY, Mo., Jan. 22.-The run on the Kansas City safe deposits and savings bank caused by its occupying quarters in the same building with the American National bank which suspended last Monday ended at ten o'clock this morning, Since Monday the Savings bank has paid out $150.000 to the depositors and was prepared to pay the full amount of deposits $900,000. The Central bank was absorbed to-day by the Merchants National bank which will pay its claims and receive all its funds and accounts. The Central bank was entirely solvent and went out of business simply because its profits were too small to pay adequat intereste on $100,000 capital stock.