Stock Yards Bank of Commerce (Kansas City, MO)

Episode Information

Episode UID
18005271296
Episode Type
Suspension → Reopening
Bank Type
state
Bank ID
1800527 routing
Routing Number
18-0052
Start Date
December 5, 1907
Location
Kansas City, Missouri (39.100, -94.579)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
825d436a9db1bbcb

Response Measures

None

Events (2)
1. December 5, 1907 Suspension
Cause
Government Action
Cause Details
Closed following the suspension/closing of the parent National Bank of Commerce and taken in charge by banking examiners/secretary of state.
Newspaper Excerpt
Two small branches of the National Bank of Commerce also closed their doors this morning. They were the Stock Yards Bank of Commerce, deposits of $300,000...
Source
newspapers
2. December 10, 1907 Reopening
Newspaper Excerpt
The Stock Yards Bank of Commerce resumed business this morning with $80,000 in cash and sight exchange on hand against $120,000 of deposits.
Source
newspapers

Newspaper Articles (21)
1. December 5, 1907 The Evening Statesman Walla Walla, WA
Article from The Evening Statesman, December 5, 1907

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KANSAS CITY BANK CLOSES CALL OF COMPTROLLER OF CURRENCY SHOWS CASH RESERVE BELOW LIMIT. KANSAS CITY, Dec. 5.-The National Bank of Commerce failed to open it's doors this morning. This bank did the largest business in the Missouri valley. On the door of the institution was posted a notice which stated. "This bank is closed by order of the board of directors. It is in the hands of Bradley, the bank examiner, by order of the comptroiler of the currency." The statement published today in reply to Ridgeley's call yesterday shows the effect of the stringency. The National Bank of Commerce, deposits last August, when last called on for statement, were $35,000,000, yesterday they were $16,000,000. President W. S. Woods will issue a statement later in the day. Vice-President Wineants states the bank was murdered by panic gossip and that there is money enough in sight to pay the depositors in full. The bank had allowed the drain on its cash resérve to continue too long and when called on for a statement was found below the legal limit. The institution had intended to move into a new 16-story building shortly. As the result of the failure of the National Bank of Commerce, the Stockyards bank, and two branches of the National Bank of Commerce closed today. President Woods said this afternoon that during the panic deposits had been reduced $18,000,000.

2. December 5, 1907 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, December 5, 1907

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me National Bank or omneice appeared in the morning papers it showed since the statement of Aug. 22 last deposits had been reduced from close to $35,000,000 to $16,953,000. The statement showed also the item of loans and discounts had been cut down $4,000,000. Leading Men Interested. The principal officers of the National S. Bank of Commerce are: Dr. W. Woods, president; W. H. Winants, vice president, and William A. Rule, cashier, Its directors and stockholders include some of the most prominent men in the city. Woods is also president of the Commerce Trust company of Kansas City which nas a capital of $1.000,000 and deposits of $1,396,000. Since its last statement the deposits of the trust company have increased nearly $200,000, and that institution is believed to be in a sound condition. Others Not Affected. James F. Downing, head of the local clearing house association, expressed the belief the failure of the Commerce would not involve deeply any other Kansas City institution, and that the other local banks would be able to weather the storm, The Commerce held the deposits of numerous small banks in this part of the southwest. What effect this failure will have upon them is problematic Outside Banks Cause Trouble. There has been no run by local depositors, but many outside banks caused trouble by withdrawing their funds on deposit with the Commerce. The Commerce was a United States depository and was interested in many local enterprises. Its individual depositors were among the largest of any bank in the city. Its statement printed this morning showing a heavy falling off in deposits drew a big crowd of depositors to the bank early, evidently intent upon drawing their money. More or less excitement followed the news that the bank had Deen closed, and the crowd gradually grew in size until it stopped traffic. Cashier Makes Statement. William A. Rule, cashier of the bank, made the following statement this morning in the presence of President Woods and two directors: Name National Bank-ofCommerce thought it best to at least close temporarily We made the fight of our lives, but conditions were against us. Depositors will not lose a cent." Woods acquiesced in what the cash ier said, Statement as Published. The statement issued today follows: I Resources - Loans and discounts $12,899,000; real estate, $689,000; 5 per cent redemption fund, $50,000; cash, sight exchange, United States bonds, and other high grade bonds, $10,630, 000. Total, $24,277,000. D Liabilities-Capital stock. $1,000,000; surplus and undivided profits, $1,640, 000; circulation account, $1,000,000; d due depositors, $16,943,000; clearing house certificates, $3,694,000. Total $24,277,000. Two Branches Shut Doors. Two small branches of the National rBank of Commerce also closed their to doors this morning. They were the al Stock Yards Bank of Commerce, det. posits of $300,000, and the Union Avenue Bank of Commerce, with small n deposits. There was no especial exat citement around these institutions The failure of the banks failed to cause y a run on any of the other banks and on at most of the other institutions de SS posits were made as usual. Another Small One Caught. Kansas City, Mo., Dec. 5.-The State d Bank of Argentine, a Kansas City su eburb. with small deposits, closed its ordoors early this afternoon following run. The stock of the bank was to at owned principally by the Nationa Bank of Commerce of Kansas City. erChicago Banks Debtors. reChicago, Ill., Dec. 5.-President For ial gan, chairman of the Chicago clearing house committee, said the failure o es, re the no would Kansas have City effect Bank upon of Commerce Chicago banks for the reason Chicago bank: with which it has accounts are al 1ddebtors to the Kansas City institution nd th Has Deposits in New York. at New York, Dec. 5.-The New Yor am correspondent of the National Bank o beCommerce of Kansas City is the Firs National bank. An official of that in lly uld stitution said today the Kansas Cit bank had a large credit balance wit Ily the First National. The stock marke in was affected by news of the failure but not to a serious extent. as lue Does Not Change Rate. ayLondon, Dec. 5.-The rate of discour of of the Bank of England remained un of changed today at 7 per cent. New England Factories Reopen. Boston, Dec. 5.-Signs of recover the from the business depression whic en started several weeks ago are bein unin of New England b

3. December 5, 1907 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, December 5, 1907

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Two small branches of the National Bank of Commerce also closed their doors this morning. They were the Stock Yards Bank of Commerce, deposits of $300,000, and the Union Avenue Bank of Commerce, with small deposits. There was no especial excitement around these institutions. The failure of the banks failed to cause a run on any of the other banks and at most of the other institutions deposits were made as usual.

4. December 6, 1907 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, December 6, 1907

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CLOSING OF BANK'S DOORS CAUSES NO DISTURBANCE By Associated Press. KANSAS CITY, Dec. 5.-The National Pank of Commerce of Kansas City, Mo., one of the largest in the west, with deposits of $16,000,000, closed its doors this 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 Stock Yards Bank of Commerce, and the Union Avenue Bank of Commerce, also closed. The failure of these banks had been expected for several days and but little excitement followed the news of the failure. The failure is laid to the withdrawals of outside banks within the past two months of $18,000,000 of deposit. They ex. pect to reopen soon and say depositors will be protected in full. Other local banks were not seriously affected up to noon and at several banks heavy deposits were made. .The State bank of Argentine, Kas, suburb, with small deposits, closed its doors early this afternoon following a run. The stock in this bank was owned principally by the National Bank of Commerce of Kansas City, Mo.

5. December 6, 1907 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, December 6, 1907

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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.

6. December 7, 1907 The Colorado Statesman Denver, CO
Article from The Colorado Statesman, December 7, 1907

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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 9, 1907 The Evening Star and Newark Advertiser Newark, NJ
Article from The Evening Star and Newark Advertiser, December 9, 1907

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BANK TO REOPEN. Plan to Buy Kansas City Institution from Receiver. KANSAS CITY, Mo., Dec. 9.-Arrangements were practically completed today for the reopening tomorrow of the Stock Yards Bank of Commerce, which failed last week following the closing of the National Bank of Commerce. The institution will be bought outright from the receiver of the National Bank of Commerce. This will be the second bank to resume since the flurry last week. The directors of the National Bank of Commerce are working hard on a plan for the reorganization of the bank, and hope to make a sufficiently good showing.

8. December 9, 1907 The Roswell Daily Record Roswell, NM
Article from The Roswell Daily Record, December 9, 1907

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STOCKYARDS BANK OF COMMERCE TO RE-OPEN. Kansas City, Dec. 9.-Arrangements were practically completed today for re-opening tomorrow morning the Stockyards Bank of Commerce, with deposits of $250,000, which failed last week following the closing of the National Bank of Commerce. The institution was bought outright from the receiver of the National Bank of Commerce. This will be the second bank to resume since the flurry of last week. The directors of the National Bank of Commerce are working hard on a plan for the re-opening of that bank and hope to make a sufficiently good showing.

9. December 9, 1907 Evening Star Washington, DC
Article from Evening Star, December 9, 1907

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Stockyards Bank to Resume. KANSAS CITY, December 9.-Arrangements were practically completed today for the reopening tomorrow of the Stockyards Bank of Commerce, deposits $250,000, which failed last week following the closing of the National Bank of Commerce. The institution will be bought outright from the receiver of the National Bank of Commerce. This will be the second bank to resume since the flurry last week. The directors of the National Bank of Commerce are working hard on a plan for the reorganization of that bank, and hope to make a sufficiently good showing.

10. December 10, 1907 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, December 10, 1907

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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

11. December 10, 1907 Santa Fe New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe New Mexican, December 10, 1907

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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.

12. December 10, 1907 The Daily Sentinel Grand Junction, CO
Article from The Daily Sentinel, December 10, 1907

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THE BIG BANK TO OPEN SOON (By Associated Press.) Ridgely refused to make Mr. Woods, Kansas City, Mo., Dec. 10.-The the former president of the bank, a Stock Yards Bank of Commerce, one co-receiver with James T. Bradley. small local bank that closed as a reThe directors are said to carry the sult of the failure of the National assurance to Mr. Ridgely from Mr. Bank of Commerce, reopened for Woods that he would personally business this morning. guarantee the prompt sale of a milThe Union Avenue Bank of Comlion dollars of new capital if the aumerce, another small branch of the thorization to increase the capital National Bank of Commerce, is in stock to that amount be given. course of reorganization. It later developed that the local The directors and stockholders are directors were misinformed about still at work upon a plan for reopenComptroller Ridgely going to Chicaing the National Bank of Commerce. go, and it is stated that the directors Last night nine of the directors went may go on to Washington from Chito Chicago to meet Comptroller of cago. the Currency Ridgely. Yesterday Mr.

13. December 10, 1907 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, December 10, 1907

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Temperature at Omaha yesterday: Hour. Deg. 5a. m THIS The 37 6am SUITS 36 7a.m 33 8 a. m 30 9a. m 29 10 a. m 29 11 a, m 29 12 m 28 1p.m 28 2p.m 29 3p.m. 29 4p.m 5p.m 6pm 7p.m 8 p. m ### 9p.m DOMESTIC. Kansas City men will buy the Stock Yards Bank of Commerce from the receiver of the National Bank of Commerce Page 1 President D. F. Walker of the California Safe Deposit and Trust company was arrested in Santa Barbara on a charge of irregularity in connection with the comPage 1 pany Owners of the mines at Monongah claim the death list will not be as large as estimated, while the men assert this is Page 1 untrue. Governor Hughes has not engaged rooms at the Auditorium hotel for the Page 1 convention as reported. Admiral Evans takes place on the flagship of the Pacific fleet and active prePage 1 parations for voyage begin. 1 Three brothers are drowned at at Page 1 Tama, Ia. Prominent attorney of Minneapolis asks for the impeachment of the supreme court Page 1 of Minnesota. Rebating cases against the packers are advanced in United States supreme court Page 1 on request of government. Cotton shortage grows according to Page 1 latest reports of government. Oklahoma representative introduces bill for initiative and referendum in United Page 2 States. Testimony given in the Haywood trial will in part be accepted by stipulation in Page 1 the Pettbone case. Posse of citizens kills two robbers at Page 1 Winlock, Wash. Wharton Golden testifies that his conscience and not a money payment prompt his testimony in the Powers case. Page 1 Senator Tillman introduces resolutions in the senate asking for an Investigation of the acts of Secretary Cortelyou in issuing bonds and certificates and also inquiring into the legality of clearing Page 2 house checks. Former Supervisor Gallagher, one of the prosecution's most important witnesses in the bribery cases in San Francisco, disPage 1 appears. FOREIGN. Mrs. Taft has narrow escape in severe storm' while being transferred from tender Holland to the President Grant. Page 1 The secretary of the admiralty defends the position of the government on the shorter life of battleships before the budget committee of the reichstag. Page 1 The funeral of King Oscar will be delayed for two weeks by necessary preparaPage 1 tions. NEBRASKA. Governor Sheldon listens to final plea of Harrison Clarke for commutation (f Page 3 his sentence. LOCAL R. J. Dunham, personal representative of J. Ogden Armour, heads the Union Stock Yards company, succeeding General Charles F. Manderson, who served unexpired term of the late W. A. Paxton. The rearrangement of directors on stock Page 1 yards company board. Grain pours into the Omaha market after two weeks of unusual quiet, while buying on the floor of the grain exchange is spirited and forty-two cars are sold in one day. Railroads have cars released during the flurry and are in good position to handle shipments. Thieves managed to move five tons of brick and stone in a vain effort to secure contents of conerstone of St. Philomena's cathedral at Ninth and Harney streets, the stone containing little of value except to the church. Ex-Mayor "Jim" Reed of Kansas City "handed it" to some executive officer of the people who wears and has been a cowboy at some time in his life, when addressing the democrats at Dahlman Page 10 banquet, COMMERCIAL AND INDUSTRIAL Live stock markets, Page 7 Grain markets. Page 7 Stocks and bonds. Page 7

14. December 10, 1907 Tonopah Daily Bonanza Tonopah, NV
Article from Tonopah Daily Bonanza, December 10, 1907

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BANK WILL REOPEN. KANSAS CITY, Dec. 9.-Arrangements have practically been completed today for the reopening tomorrow of the Stock Yards Bank of Commerce, which failed last week following the closing of the National Bank of Commerce. The institution will be bought outright from the receiver of the latter.

15. December 10, 1907 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, December 10, 1907

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Kansas City Stockyards Bank of Commerce Resumed Business This Morning. UNION AVENUE REORGANIZING Directors and Stockholders of National Bank of Commerce Working On a Reopening Plan. Kansas City, Dec. 10.-A second small local bank affiliated with the National Bank of Commerce, that closed when the parent Institution failed last Wednesday, resumed business this morning. It was the Stockyards bank of Commerce. It re-opened with $80,000 in cash and sight exchange on hand. against 120,000 depositors. The bank was a state institution and had been taken in charge by R. N. Cook, state bank examiner under direction of Secy. of State Swanger. The Commeree Trust company, which also is affillated with the National Bank of Commerce, took part of the assets of the Stock Yards Bank of Commerce and furnished cash and sight exchange sufficient to meet demands of Secy. Swanger. The Union Avenue Bank of Commerce, another small branch of the National Bank of Commerce, is in the course of re-organization. "I have a plan for the re-opening 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 rebening the National Bank of Commerce and last night nine directors went to Chicago to meet William B. Ridgel. 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 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 permanent receiver. It was stated yesterday that Comptroller Ridgely 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. James, L. M. Jones, Edward Dickinson and W. A. Pickering They are said to carry to Comptroller Ridgely assurance from Dr. Woods that he will personally guarantee the prompt sale of $1,000,000 of new capital of the company. He said he could himself take care of $500,000 of this if the capital stock of the bank is to be increased to $1,000,000, as has been suggested. J. J. Heim, a millionaire broker, said last night: "If it is found advisable to increase the capital stock to $2,000,000, I am sure that it can be subscribed within 48 hours," It developed later today that the local directors were misinformed about Comptroller Rigdely 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 with Chicago bankers and with any of the St. Louis stockholders who may arrive in that city during the day, and might go on to Washington later.

16. December 11, 1907 Alma Record Alma, MI
Article from Alma Record, December 11, 1907

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Examiner Re-Opens Bank. Kansas City, Dec. 11.-State Bank Examiner Cook has re-opened the Stockyards Bank of Commerce, one of the small banks affiliated with the National Bank of Commerce, and closed when the latter suspended. The Stockyards bank is the second small bank to re-open. It had $80,000 cash on hand! against $120,000 of deposits, and is amply backed to pay off every dollar if necessry and still remain in business.

17. December 12, 1907 The Spanish Fork Press Spanish Fork, UT
Article from The Spanish Fork Press, December 12, 1907

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KANSAS CITY BAN FORCED TO CLOS One of Largest Institutions in W Unable to Stem the Tide of Adverse Circumstances. Suspensnon Due. to the Fact That curities Could Not be Disposed 0 But Depositors Will Not Lose a Cent by Failure. Kansas City.-The National Ba of Commerce of Kansas City, M one of the largest in the west, WE deposits of $16,000,000, closed doors Thursday morning and taken in charge by a national ba examiner upon an order of the con troller of the currency. Later the small outlying banks in which the Commerce was interested, the Stock yards Bank of Commerce and Union Avenue Bank of Commer also closed. The failure of these banks has be predicted for several days and bi. little excitement followed the 8. nou: cement of the news, althou crowds of depositors gathered abo the doors of these institutions. T officials of the Commerce, which affiliated with many banks here a in other parts of the southwest, e press the opinion that none of the will be seriously affected. The fa ure is laid to the withdrawal of ou side banks within the past tw months of $18,000,000 of deposit They expect to reopen soon and sa depositors will be protected in ful

18. December 12, 1907 The Plymouth Tribune Plymouth, IN
Article from The Plymouth Tribune, December 12, 1907

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FOUR BANKS FAIL AT KANSAS CITY. National Commerce Institution Goes Down, Carrying 3 Smaller Houses With It. The National Bank of Commerce. the second largest financial institution in Kansas City, with $16,942,694 in deposits, failed to open its doors Thursday. Later three small institutions in which the Bank of Commerce was largely interested--the Stockyards Bank of Commerce, the Union Avenue Bank of Commerce, and the State Bank of Argentine, Kas., a suburb-also closed their doors. The failure of the National Bank of Commerce followed a steady run of six weeks, during which the bank had paid off $19,000,000 of its dep Sits, reduced its loans three and a halt million dollars, cut down its cash resources eleven and three-fourths million dollars, and sold two million dollars of high grade bonds in an effort to meet the demands upon it. The directors of the bank had been in conference practically all night before the decision to suspend business was reached. They gave out a statement Thursday morning saying that inability to collect money from borrowers as fast as it was demanded by the creditors of the bank was the cause o fthet closing. They said Chicago and New York bankers had offered assistance, but that it had been refused because they could not tell how long the heavy drains would continue. Certain Chicago, New York, and St. Louis bankers agreed to raise $3,750,000 to help out the National Bank of Commerce if that amount would pull the institution through. It was provided, however, the bank should be specially examined and the securities offered fo rthe loans to be made should be approved. A special examination proved conditions to be unsatisfactory and the bank was closed. A few of the Chicago banks already had advanced several hundred thousand dollars. One of the loans was secured by bonds. Another large bank, instead of making a loan, rediscontinued a large sum of commercial paper. The closing of the bank occasioned no disturbance at Kansas City. The same was true in New York. But as Kansas City is a so-called reserve city under the national banking act, a great many Kansas banks carried a part of their reserve with it. There may be some suffering in Kansas and contiguous territory on this account.

19. December 12, 1907 Gilpin Observer Central City, CO
Article from Gilpin Observer, December 12, 1907

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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.

20. December 12, 1907 Semi-Weekly Herald Durango, CO
Article from Semi-Weekly Herald, December 12, 1907

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act, the "most conspicuous test" of which was the successful settlement of the threatened strike of the Order of Railway Conductors and the Brotherhood of Railroad Trainmen in March of this year. Lisbon, O., Dec. 9.-In sight of twen tyfive horrified onlookers, Harry Webber confronted his bride of four weeks on the threshold of the Disciple's church just as the choir was beginning the opening anthem yesterday morning and shot her down. A minute later the young man fell with a bullet in his own brain. As he fell he said, "She chose between her religion and me." Goldfield, Dec. 9.-An authoritive statement was made last night that sufficient men were already on the ground to work the mines. beginning Wednesday. The total number quiet ly brought in and who secretly made application to return to their former position is placed at over a thousand There are about fifteen hundred West ern Federation men out Men to take the places of strikers will not -be housed in the mines but will be scattered through the camp. Protection for each individual has been guaranteed by the Mine Owners' association Two propositions have positively been decided upon-the making of an opea camp for all time and early lowering of the wage scale. At the same time the owners' association is going to begin a vigorous crysade on the cost of living at Goldfield. Allentown Pa., Dec. With Calvin Frederick, the engine driver. dead in his cab. the fast west bound Lehigh valley train ran into the rear of another freight train at Parryville. Frederick complained of severe pains in his head and it is believed he died from a stroke of apoplexy Fredericks' body was badly crushed and his fire man and brakeman badly scalded. The engine driver who was 38 years old was to have been married during Christmas week. Butte, Mont. Dec. -Orders were received from the Amalgamated Cop per company directory closing all the mines of the subsidiary companies except those of the Boston and Montana and the big smelter at Anaconda and North Butte Coalition. The Butte mining district today is practically closed. The production will be lesa than 2,500 tons of ore daily. Kansas City, Dec. 9. -Arrangements are practically completed for the reopening tomorrow of the Stock Yards Bank of Commerce with deposits of a quarter of a million dollars, which failed last week, following the closing of the National Bank of Commerce. The institution will be bought outright from receivers of the National Bank of Commerce. This will be the second bank to resume since the flurry last week. The directors of the National Bank of Commerce are working hard on the plan of reorganization of that bank and hope to make a sufficiently good showing to gain permission of Receiver Bradley to reopen. New York, Dec. 9. New York had its first taste yesterday and last night of Sunday without any theatrical amusement. In accordance with JusGorman's decision of last week tice and thethe doors of all concert halls aters were close. but the back rooms five thousand saloons. billiard and together were wide open. alleys of pool parlors, with Every bowling one of the largest in its history and rever these Sunday did business intoxicated for before men any were there so many seen on the streets, For the first time in December in fifty years no ball was held on Sunday night in Tammany hall. Frankfort, Ky., Dec. 9.-Governor J. C. W. Beckham will retire from office and Augustus E. Willson, the Repubin lican governor-elect will be sworn as chief executive of Keatucky 10 morrow. Governor Beckham will not He return to his home in Bardstown. has rented the handsome residence of United States Senator Thomas H. Paynter, where he will live with his until the coming has adjourned. family legislature session From himself of now the that time he will devote to his exclusively until candidacy are for now the senate, which his managers engaged in pushing. they are urging argument busily in The the chief govbehalf is that he is the party and they say as ernor's nominee such Democrats. he is entitled to support of all Democratic leaders, clare that the primary was Many however, premature the denot express the will of It la probable that oppoand voters. did develop much in the sition to Beckham will

21. December 14, 1907 The Garland Globe Garland, UT
Article from The Garland Globe, December 14, 1907

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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 *aken in charge by a national bank examiner upon an order of the comp troller 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 an nouncement 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, 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