gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c3868425d4bdbba1
Response Measures
None
Events (2)
1.December 5, 1907Suspension
Cause
Correspondent
Cause Details
Closed because its parent/correspondent, the National Bank of Commerce, suspended following heavy withdrawals and examiners took charge.
Newspaper Excerpt
Later two small outlying banks in which the Commerce was interested, the Stock Yards Bank of Commerce, and the Union Avenue Bank of Commerce, with small deposits. There was no especial excitement around these institutions.
Source
newspapers
2.December 16, 1907Reopening
Newspaper Excerpt
The Union Avenue Bank of Commerce ... resumed business this morning. With the opening of the Union Avenue bank all of the banks affected by the National Bank of Commerce failure have now reopened.
Source
newspapers
Newspaper Articles (21)
1.December 5, 1907The Evening Star and Newark AdvertiserNewark, NJ
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BANK CLOSES ITS DOORS Reduction of Deposits by Nearly Twenty Million--No Loss to Depositors. KANSAS CITY. Dec. 5.-The National Bank of Commerce of Kansas City, Mo., failed to open its doors today and is in the hands of James T. Bradley, national bank examiner, who assumed control by order of the comptroller of the currency. The bank had been in a weakened condition since its last statement. which was issued August 22. At that time it was stated the bank owed the clearing house close to a million dollars. When the financial disturbance came and the clearing house decided to issue clearing house certificates, rumors regarding the bank's condition were current and the clearing house, in the past few days, has held several conferences at which means of keeping the bank open, were discussed. A statement by the bank showed that since August 22 last the deposits have been reduced from close to $35,000,000 to $16,952,969. The statement showed also that the item of loans and discounts had been cut down $4,000,000. NEW YORK. Dec. 5.-The New York correspondent of the National Bank of Commerce, of Kansas City, is the First National Bank. An official of that institution said today that the Kansas City Bank had a large credit balance with the First National. The stock market was affected by the news of the failure but not to a serious extent. Two small branches of the National Bank of Commerce, one located at the Union Stock Yards and the other in the wholesale district in the West bottoms, also closed their doors during the day. They were the Stockyards Bank of Commerce. deposits $300,000, and the Union Avenue Bank of Commerce, with small deposits. There was no especial excitement around these institutions. The failure of these banks had no effect on any of the other banks in this city, and at most of the other institutions deposits were made as usual. Cashier Rue said: "The directors of the National Bank of Commerce thought it was best to close, temporarily at least. We made the fight of our lives. but conditions were against us. The depositors will not lose a cent." H. P. Davison, vice-president of the First National Bank, said today that the effect of the Unite had been
2.December 6, 1907Rock Island ArgusRock Island, IL
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cleared the atmosphere and marked the first real step towards the restoration of confidence. The depositors of the Commerce were reassured by declarations of the officials that the institution would not only pay the depositors in full, but the stockholders would lose nothing. Reopen One That Closed. Kansas City, Mo., Dec. 6.-The First State Bank of Argentine, Kan., affiliated with the National Bank of Commerce that closed yesterday. reopened for business this morning. The bank has deposits of a quarter of a million dollars. and Cashier Middlekauff says it is in a perfectly sound condition. "We closed the doors yesterday temporarily only so we might post our books," said he. One of Strongest in State. Royce, state bank examiner of Kansas, said: "The First State Bank of Argentine is one of the strongest banks in the state. There was no necessity for the bank closing its doors. The First State Bank of Argentine should not be confused with the Argentine State bank." An effort will be made to open at once the Stock, Yards Bank of Commerce and the Union Avenue Bank of Commerce, the two other small concerns closed yesterday, Illinois State Banks Fare Well. Springfield, Ill., Dec. 6.-State banks of Illinois were effected little by the panicky conditions which have pre vailed in some parts of the country The decrease in the resources of state banks on Nov. 19. as compared with Aug. 20, sometime before the panic, is very small, while the decrease in time savings and individual demand deposits also show but a slight falling off.
3.December 6, 1907The Birmingham Age-HeraldBirmingham, AL
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BIG BANK CLOSES UP TEMPORARILY Withdrawal of Deposits Cause of the Suspension VICTIM OF UNJUST RUMORS New York and Chicago Bankers Unite In the Belief That the Bank Will Reopen and That No Alarm Should Be Felt. Kansas City, December 5.-The National Bank of Commerce of Kansas City, Mo., one of the largest in the west, with deposits of $16,000,000. closed its doors today and was taken in charge by a national bank examiner upon an order of the comptroller of the currency. Later two small outlying banks in which the Bank of Commerce was interested, the Stock Yards Bank of Commerce. and the Union Avenue Bank of Commerce, also closed. The failure of these banks had been predicted for several days, and but little excitement followed the announcement of the news, although crowds of depositors gathered about the doors of these institutions. The officials of the Bank of Commerce, which is affiliated with many banks here. and in other parts of the southwest, express the belief that none of them will be seriously affected. The failure is laid to the withdrawal by outside banks within the past few months of $18,000,000 on deposit. The bank expects to reopen soon, and the officials say depositors will be paid in full. The bank had been in a weakened condition since its last statement, which was issued August 22 last. At that time it was stated that the bank owed the clearing house close to a million dollars, when the financial disturbance came, and the clearing house decided to issue clearing house certificates, rumors regarding the bank's condition were current and the clearing house in the past few days has held several conferences with other national banking officials here in connection with the matter and means of keeping the bank open were discussed. Yesterday much surprise was expressed when the request of the comptroller for a statement of condition of banks was not responded to by the National Bank of Commerce. Other local banks published their statements showing a healthy condition, but the officials of the Bank of Commerce announced that its statement would not be forthcoming until this morning. This created further distrust in the bank's condition and after conferences lasting into the early hours today the clearing house officials decided they could not ald the failing bank.
4.December 6, 1907Deseret Evening NewsSalt Lake City, UT
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cleared the atmosphere and marked the first real step toward a restoration of confidence. DEPOSITORS SAFE. Many depositors of the Commerce were reassured by the declarations of officials of that institution that it would not only pay depositors in full, but that stockholders also would Inse nothing. James T. Bradley, appointed receiver yesterday by the comptroller of currency, had no statement to make this morning. Mr. Bradley was receiver and wound up the Iffairs of the First National Bank of Topeka, Kan., which failed as a result of the collapse of the enterprises of the late C. J. Devlin in 1905. His success in managing the affairs of that bank has inspired many of the larger depositors of the Commerce with the hope that he will be able to realize the claims of the Commerce's officials and pay out in full. The failure of the National Bank of Commerce had no apparent effect upon the Commerce Trust company, whose president, Dr. W. S. Woods, was also president of the bank. Many depositors of the National Bank of Commerce have opened accounts in the trust company, as well as with other local banks. W. F. Kempeer, vice president of the Comemree Trust company, said that they had already received close to $300,000 of new deposits from that source. ARGENTINE BANK RESUMES. One of the three small banks in the suburbs of Kansas City: affiliated with the National Bank of Commerce that closed late yesterday, the First State Bank of Argentine, Kan., re-opened for business this morning. The bank has deposits of $250,000 and W. Middlekauff, its cashier, says it is in a perfectly sound condition. "We closed the doors yesterday temporarily only so we might post our books," said he, "We did not have time to do this yesterday during banking hours with our limited force, and this was the only reason for our closing. We are receiving deposits and doing business as usual this morsing." J. Royce, state bank examiner of Kansas, who came to Kansas City last night, said: "The First State Bank of Argentine is one of the strongest banks in the state. There was no necessity of the bank closing its doors." The First State Bank of Argentine should not be confused with the Argentine State bank. The Argentine State bank did not close its doors and was conducting its business this morning in the usual manner with no indications of a run. John Swanger, secretary of the State of Missauri, and State Bank Examiner Cook arrived today and took charge of the Stock Yards Bank of Commerce and the Union Avenue Bank of Commerce, the two other small concerns that closed yesterday. An effort will be made to re-open these banks at once.
5.December 7, 1907Ottumwa Tri-Weekly CourierOttumwa, IA
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KANSAS CITY BANK REOPENS ONE OF INSTITUTIONS CLOSED YESTERDAY RESUMES -PITTSBURG BANK CLOSED. Kansas City, Dec., 6.-The First State bank of Argentine, Kan. affliated with the National bank of Commerce that was closed late yesterday re-opened for business this morning. The bank has deposits of $25,000,000. Cashier Middle Kauff says it is in perfectly sound condition. "We closed the doors yesterday temporarily only so that we might post our books," said he. J. Q. Royce. state bank examiner, of Kansas City said: "The First State bank of Argentine is one of the strongest banks in the state. There was no necessity for the bank closing its doors.' The First State bank should not be confused with the Argentine State bank. An effort will be made at once to re-open the Stockyard bank of Commerce and the Union Avenue Bank of Commerce, two other small concerns, closed yesterday. Commence to Pay in Full. There were no evidences of a run on any of the banks this morning. The bank officials generally gave it as thir opinion the crisis resulting from a failure of the National Bank of Commerce was over and that normal conditions would soon exist, that the closing of the Commerce really cleared the atmosphere and marked the real step toward the restoration of confidence. The many depositors of the Commerce are reassured by the declarations. of the officials of that institution that it would not only pay the depositors in full but that the stock holders would lose nothing. Pittsburg Bank Closes. Pittsburg, Pa., Dec., 6.-The Fort Pitt National bank of this city was closed today and placed in charge of Bank Examiner Cunningham. President Andrew Herron said to the Associated Press: "The depositors are fully protected. The suspension was precipitated by occurrences yesterday which made it necessary to close the bank for the protection of all concerned." The suspension had no apparent effect upon the other institutions. During the morning hours not more than twenty depositors loitered about the bank. The report at the close of business on December 3. shows the capital stock paid in $1,000,000 and the surplus fund $1,000,000; due other banks, $283,900: deposits and cashier checks outsanding, $2,302,000; loans and discounts, $3762,000; total resources and liabilities, $5,522,000.
6.December 7, 1907The Colorado StatesmanDenver, CO
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Kansas City Bank Failure. Kansas City.-The National Bank of Commerce, the second financial institution in importance in Kansas City, announced its suspension instead 01 opening Thursday morning, after a steady run of six weeks, during which the bank had paid off $19,000,000 of its deposits, reduced its loans $3,500,000, cut down its cash resources $11,750, 000, and sold $2,000,000 of high grade bonds in an effort to meet the demands upon it. Later three small outlying banks in which the Commerce was interested, the Stock Yards Bank of Commerce, the Union Avenue Bank of Commerce and the State Bank of Argentine, also closed. The failure of these banks had been predicted for several days and but little excitement followed the announcement.
7.December 10, 1907The Topeka State JournalTopeka, KS
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g Another Branch of the Come merce Resumes Business. The One at the Stock Yards Put h o on Its Feet. S 1 . THE PARENT CONCERN. Is in a Fair Way to Start Up Again Soon. Directors Go to Chicago to See Ridgely About It. Kansas City, Mo., Dec. 10.-A second small bank affiliated with the National Bank of Commerce, that closed when the parent institution failed last Wednesday, resumed business this morning. It was the Stock Yards Bank of Commerce and it reopened with $80,000 in cash and sight exchange on hand, against $120,000 deposits. The bank was a state institution and had been taken in charge by R. M. Cook, state bank examiner under direction of Secretary of State Swanger. The Commerce Trust company, which also is affiliated with the National Bank of Commerce, took part of the assets of the Stock Yards bank and furnished cash and sight exchange sufficient to meet the demands of Secretary Swanger. The Union Avenue Bank of Commerce, another small branch of the National Bank of Commerce is in course of reorganization. "I have the plan for the reopening of that bank also," said Mr. Cook. today, "which I hope will be put through in the next few days.' The directors and stockholders continue to work on their plan for reorganizing the National Bank of Commerce and last night nine directors went to Chicago to meet William B. Ridgley comptroller of the currency, and talk with him of the affairs of the bank. They will be met there by David R. Francis of St. Louis and perhaps several St. Louis stockholders in the bank. At Washington yesterday Comptroller Ridgley declined to appoint Dr. W. S. Woods, the former president of the bank. as co-receiver with James T. Bradley. Now it is stated that the St. Louis stockholders of the bank. who are said to oppose the plans of the Kansas City directors, will ask that George L. Edwards of St. Louis, be made the permanent receiver. It was stated yesterday that Comptroller Ridgley was going to Chicago and it was arranged to have a conference with him today. The directors who left Kansas City for Chicago include some of the most prominent men in the city. They are R. A. Long, J. J. Heim, J. J. Swofford, Hugh C. Ward, H. F. Hall, J. C. T James, L. M. Jones, Edward Dickinson and W. A. Pickering. They are said to carry to Comptroller Ridgley assurances from Dr. Woods that he will personally I guarantee the prompt sale of one milt lion dollars of new capital of the t company. He said he could himself take care of half a million of this if t the capital stock of the bank is to be n increased to one million dollars, as has c been suggested. P J. J. Heim, a millionaire brewer, said last night: "If it is found advisable to increase t the capital stock to two millions, I n am sure that can be subscribed within 48 hours." P Mistake About Ridgely. p f Kansas City, Dec. 10.-It developed I late today that the local directors were misinformed about Comptroller Ridgely p going to Chicago, and that the latter is in Washington and has no intention of going away at present. It was stated at the National Bank of Commerce that the directors who left here last night would spend the day conferring C with Chicago bankers and with any of the St. Louis stockholders who may hat altu during the day and
8.December 10, 1907Santa Fe New MexicanSanta Fe., Santa Fe, NM
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SUSPENDED BANK RESUMES BUSINESS Subsidiary of National Bank of Commerce of Kansas City Re-OpensPlenty of Assets. Kansas City, Dec. 10.-The Stock Yards Bank of Commerce a small institution that closed when its parent bank, the National Bank of Commerce failed last Wednesday, resumed business this morning with $80,000 in cash and sight exchange on hand against $120,000 of deposits. The Union Avenue Bank of Commerce, another branch of the National Bank of Commerce is in course of re-organization.
9.December 11, 1907The Topeka State JournalTopeka, KS
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THREE MORE RESUME. Banks Carried Down by Commerce Failure Are Up Again, Kansas City, Mo., Dec. 11.-Three additional banks in Missouri and Kansas that suspended following the closing last week of the National Bank of Commerce are to resume. They are the Union Avenue Bank of Commerce of Kansas City, a branch of the National Bank of Commerce; the private bank of D. A. Becker at Stoesbury, Mo., deposits about $20,000, and the State Bank of Admire, at Admire, Kansas, with deposits of $100,000. The Union Avenue bank when it closed had $120,000 upon deposit in the National Bank of Commerce. The stockholders and patrons are to make up this amount and the bank may resume this afternoon or tomorrow. R. M. Cook, Missiouri state bank examiner, who is here, says: "There is nothing whatever to prevent the resumption of the Union Avenue bank." Mr. Cook also said that the private bank at Stoesbury would reopen within a few days. The State Bank of Admire when it closed had $28,000 on deposit in the National Bank of Commerce. This amount has been covered by stockholders in the institution and Bank Commissioner Royce of Kansas says it will reopen some time today. With the reopening of these three banks all of the smal banks in this part of the country affected by the National Bank of Commerce failure will have resumed.
10.December 12, 1907The New EraWalden, CO
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Kansas City Bank Failure. Kansas City.-The National Bank of Commerce, the second financial institution in importance in Kansas City, announced its suspension instead 01 opening Thursday morning, after a steady run of six weeks, during which the bank had paid off $19,000,000 of its deposits, reduced its loans $3,500,000, cut down its cash resources $11,750, 000, and sold $2,000,000 of high grade bonds in an effort to meet the demands upon it. Later three small outlying banks in which the Commerce was interested, the Stock Yards Bank of Commerce, the Union Avenue Bank of Commerce and the State Bank of Argentine, also closed. The failure of these banks had been predicted for several days and but little excitement followed the announcement.
11.December 13, 1907The Coalville TimesCoalville, UT
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KANSAS CITY BANK FORCED TO CLOSE One of Largest Institutions in West Unable to Stem the Tide of Adverse Circumstances. Suspensnon Due to the Fact That Socurities Could Not be Disposed of, But Depositors Will Not Lose a Cent by Failure. Kansas City-The National Bank of Commerce of Kansas City, Mo., one of the largest in the west, with deposits of $16,000,000, closed its doors Thursday morning and was 'aken in charge by a national bank examiner upon an order of the comp troller of the currency. Later twc small outlying banks in which the Commerce was interested, the Stock yards Bank of Commerce and the Union Avenue Bank of Commerce also closed. The failure of these banks has been predicted for several days and but little excitement followed the an nouncement of the news, although crowds of depositors gathered about the doors of these institutions. The officials of the Commerce, which It affiliated with many banks here and in other parts of the southwest, ex press the opinion that none of them will be seriously affected. The fail ure is laid to the withdrawal of out side banks within the past twc months of $18,000,000 of deposits They expect to reopen soon and say depositors will be protected in full
12.December 14, 1907Chicago EagleChicago, IL
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CLOSED BANKS ARE TO REOPEN. Three that Quit After Kansas City Trouble to Resume. Three additional small banks in Missouri and Kansas that suspended following the closing of the National Bank of Commerce of Kansas City are to resume. They are the Union Avenue Bank of Commerce of Kansas City, a branch of the National Bank of Commerce: the private bank of D. A. Becker at Stotesbury, Mo., with deposits about $20,000, and the State Bank of Admire, at Admire, Kan., with deposits of $100,000.
13.December 14, 1907The Glenwood PostGlenwood Springs, CO
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Kansas City Bank Failure. Kansas City.-The National Bank of Commerce, the second financial institution in importance in Kansas City, announced its suspension instead 01 opening Thursday morning, after a steady run of six weeks, during which the bank had paid off $19,000,000 of its deposits, reduced its loans $3,500,000, cut down its cash resources $11,750, 000, and sold $2,000,000 of high grade bonds in an effort to meet the demands upon it. Later three small outlying banks in which the Commerce was interested, the Stock Yards Bank of Commerce, the Union Avenue Bank of Commerce and the State Bank of Argentine, also closed. The failure of these banks had been predicted for several days and but little excitement followed the announcement.
14.December 16, 1907The Times DispatchRichmond, VA
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BANK TO REOPEN Closed by Failure of Bank of Commeree. It Will Reopen To-Day. KANSAS CITY. MO.. December 15.The Unión Avenue Bank of Commerce, which was obliged to close by the suspension of the National Bank of Commerce, will reopen for business to-morrow. All the banks carried down by the National Bank of Commerce's fallure have been rehabilitated. Four government bank examiners are working on the books of the National Bank of Commerce, and upon their re. port will depend whether the bank shall be reopened or liquidated. Checks on the suspended bank are accepted at par by many business houses.
BANKS ARE REOPENING. Kansas City. Dec. 15.-The Union avenue Bank of Commerce, which was obliged to close by the suspension of ill 'the National Bank of Commerce. All re-open for business to-morrow. the small banks carried down by the National Bank of Commerce's failure have now been rehabilitated.
16.December 16, 1907Omaha Daily BeeOmaha, NE
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KANSAS CITY BANK REOPENS National Bank of Commerce Only One Not Now Ready for Business. KANSAS CITY, Dec. 15.-The Union Avenue Bank of Commerce, which was obliged to close by the suspension of the National Bank of Commerce, will reopen for business tomorrow morning. All the small banks carried down by the NHtional bank's failure have now been rehabilitated. Four government bank examiners are working on the books of the National Bank of Commerce, and upon their report will depend whether the bank shall be reopened or liquidated. George F. Cutts of New York, one of the examiners, will probably take charge of the bank as receiver in a few days, succeeding James T. Bradley of Kansas. Checks on the suspended bank are accepted at par by many business houses and the financial situation has been mitigated thereby.
17.December 16, 1907The Montgomery AdvertiserMontgomery, AL
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BANK TO RESUME. Union Avenue Bank of Commerce of Kansas City All Right. Kansas City, Dec. 15.-The Union Avenue Bank of Commerce which was obliged to close by the suspension of the National Bank of Commerce, will reopen for business tomorrow morning. All the small banks carried down by the national bank's failure have now been rehabilitated. Four Government bank examiners are now working on the books of the National Bank of Commerce.
18.December 17, 1907Omaha Daily BeeOmaha, NE
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UNION AVENUE BANK OPENS Receiver will Soon Be Ready to Report on National Bank of Commerce. KANSAS CITY, Dec. 16.-The Union Avenue Bank of Commerce, one of the small banks affiliated with the National Bank of Commerce, which closed when the parent institution failed ten days ago, resumed business this morning. With the opening of the Union Avenue bank all of the banks affected by the National Bank of Commercé failure have now reopened. James T. Bradley, receiver of the National Bank of Commerce, and his assistants are working on their report of the condition of that bank and expect to have it ready for submission to the comptroller within a few days.
Suspended Bank Resumes. Kansas City, Dec. 17.-The Union Avenue Bank of Commerce, one of the small banks affiliated with the National Bank of Commerce, which closed when the parent institution failed ten days ago, has resumed business. All of the banks affected by the Commerce failure have now reopened. James T. Bradley, receiver of the National Bank of Commerce, expects to have the report of the condition of that bank ready for the comptroller of the currency within a few days.
20.December 19, 1907The Idaho RecorderSalmon, ID
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KANSAS CITY BANK FORCED TO CLOSE One of Largest Institutions in West Unable to Stem the Tide of Adverse Circumstances. Suspensnon Due to the Fact That Securities Could Not be Disposed of, But Depositors Will Not Lose a Cent by Failure. Kansas City.-The National Bank of Commerce of Kansas City, Mo., one of the largest in the west, with deposits of $16,000,000, closed its doors Thursday morning and was taken in charge by a national bank examiner upon an order of the comptroller of the currency. Later two small outlying banks in which the Commerce was interested, the Stockyards Bank of Commerce and the Union Avenue Bank of Commerce, also closed. The failure of these banks has been predicted for several days and but little excitement followed the announcement of the news, although crowds of depositors gathered about the doors of these institutions. The officials of the Commerce, which is affiliated with many banks here and in other parts of the southwest, express the opinion that none of them will be seriously affected. The failure is laid to the withdrawal of outside banks within the past two months of $18,000,000 of deposits. They expect to reopen soon and say depositors will be protected in full.
21.December 20, 1907The Montgomery TribuneMontgomery City, MO
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Banks Will Reopen. Kansas City-Three small banks in Missouri and Kansas that suspended following the close of the National Bank of Commerce are to resume. They are the Union Avenue Bank of Commerce of Kansas City, the private bank of D. A. Becker at Stoesbury and the State Bank of Admire, Kas.
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