First National Bank (Abilene, KS)

Episode Information

Episode Type
Run → Suspension → Closure
Start Date
December 10, 1889
Location
Abilene, Kansas (38.917, -97.214)
Bank Type
national
Charter Number
2427

Metadata

Response Measures

Full suspension, Books examined

Other: Comptroller of the Currency took possession and a receiver was appointed; receiver later declared dividends (administrative takeover/receivership rather than rescue measures).

Receivership Details

Depositor recovery rate
87.5%
Date receivership started
1890-01-21
Date receivership terminated
1895-05-09
OCC cause of failure
Excessive lending
Share of assets assessed as good
18.2%
Share of assets assessed as doubtful
43.5%
Share of assets assessed as worthless
38.3%

Notes

Newspaper reports list receiver appointment mid-Jan 1890; government-record receivership date 1890-01-21 (slight date reporting differences).

Events (5)

1. June 23, 1879 Chartered
Source
historical_nic
2. December 10, 1889 Run
Cause
Local Banks
Cause Details
Heavy withdrawals triggered by loss of confidence after failure of Leibold/Leopold Fisher & Co.
Newspaper Excerpt
The failure of the bank of Lebold Fischer & Co. shook the confidence in the other banks and there has been a heavy withdrawal of deposits from the First National Bank.
Source
newspapers
3. December 10, 1889 Suspension
Cause
Local Banks
Cause Details
Suspension followed heavy withdrawals and shaken confidence after another local bank's failure.
Newspaper Excerpt
The First National bank of this city has suspended business.
Source
newspapers
4. January 21, 1890 Receivership
Newspaper Excerpt
GEO. A. ROGERS ... has been appointed receiver of the Abilene First National Bank.
Source
newspapers
5. January 21, 1890 Receivership
Source
historical_nic

Newspaper Articles (20)

Article from Daily Kennebec Journal, December 11, 1889

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Another Kausas Bank Goes Under

ABILINE, Kan., Dec. 10.-The First National bank of this city has suspended business. The failure of the bank of Lebold Fischer & Co. shook the confidence in the other banks and there has been a heavy withdraw. al of deposite from the First National Bank. The liabilities are placed at $116,000, resources, $300,000.


Article from Sacramento Daily Record-Union, December 11, 1889

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Bank Suspended.

ABILENE (Kas.), December 10th.—The First National Bank of this city has suspended business. The liabilities are placed at $116,000, and the resources at $300,000.

Oh! Give Us a Rest.


Article from The Morning News, December 11, 1889

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A Bank Falls

ABILENE, KAN., Dec. I 10.-The First National bank of this city has suspended business. The liabilities of the bank are placed at $116,000, and its resources at $300,000,


Article from Lancaster Daily Intelligencer, December 12, 1889

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Failure of a Kansas Bank

The First National bank of Abilene, Kansas, has suspended business. Ever since the failure of the bank of Leopold Fisher & Co. confidence in the other banks has been somewhat shaken. Many Eastern depositors withdrew their deposits from the First National bank, and the drafts


Article from The Cheyenne Daily Leader, December 12, 1889

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The Abilene Bank Failure

ABILENE, Kans., Dec. 11.-A careful estimate regarding the failure of the First National bank place the liabilities at $131,000 and the assets at $210,000. The comptroller of currency has taken possession of the Kansas Farmers' Insurance company, of which President Bonebrake, of the bank, 18 also president. It will be somewhat affected by the failure, but is in no danger of suspension.


Article from Los Angeles Daily Herald, December 12, 1889

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Abilene Bank Failure

ABILENE, Kan., December 11.-Careful estimates regarding the failure of the First National Bank place the liabilities at $131,000, and assets. mostly western land mortgages, at $210,000. The Comptroller of Currency has taken possession. The Kanaas Farmers' Insurance Company, of which President Bonebrake of the bank, is also President, will be somewhat affected by the failure, but no danger of suspension is considered probable.


Article from Delaware Gazette and State Journal, December 12, 1889

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The First National Bank of Abilene, Kansas, suspended Tuesday. Its liabilities are stated at $116,000, and its resources at $300,000.


Article from The Anaconda Standard, December 13, 1889

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win Pay Deposits in Full

ABILENE, Kas., Déc. 12. -Bank examiner Griffith took charge of the suspended First National bank this morning. He authorizes the statement that the assets will pay the depositors in full.


Article from Middlebury Register, December 13, 1889

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Peter Clausen, a lineman, was fatally burned and died entangled in a mass of wires.

Whitney & Co., dry goods commission merchants, at 73 Worth street, New York, made an assignment Monday. The failure is thought to amount to $500,000.

The burning of the National steamship dock in New York Saturday afternoon resulted in the death of four persous, the injury of several others and a property loss of $200,000.

Mrs. Margaret Dilliard, who, with her paramour, William H. Bartholomew, was convicted of the murder of her husband on the night of September 6 at Biersville, Pa., has been sentenced to be hanged.

Mrs. Helen R. Saltus has brought suit for divorce at New York from her husband, Edgar Saltus, the novelist, on the ground of adultery. Elsie W. Smith and Fanny Girvan are named as co-respondents.

Rumple, Smith & Co. of New York have been awarded by the authorities of Havana, Cuba, a contract to erect a system of waterworks for that city, at a cost of $2,000,000. The firm bid against a number of European houses.

The New York guarantee fund for a world's fair amounts to $5,135,826. A bill will be presented to Congress providing for the creation of a corporation which shall direct the exhibition subject to the supervision of the United States.

Mrs. Wiliam J. Foster of Franklin, N. H., was shot dead Saturday evening by Madison G. Colby, a butcher of that town. A feud growing out of disputed boundaries was at the bottom of the deed, although the victim was innocent of connection with it.

The Jerome park villa site and improvement company of New York have decided to discontinue racing. Jerome park is to be cut up into lots and sold. Nearly $100,000 was lost on last season's racing, largely owing to the opening of the rival Westchester track.

The First national bank of Abilene, Kan., has suspended business. The failure of the bank of Lebold Fisher & Co. shook confidence in the other banks and there has been a heavy withdrawal of deposits from the First national bank. The liabilities are placed at $116,000 and the resources at $300,000. The officers of the bank are Kansas men.

The work of refining sugar was begun Monday in Claus Spreckel's immense new sugar refinery on the Delaware river at the foot of Reed street in Philadelphia. The capacity of the refinery is 2,000,000 pounds of sugar every 24 hours. The building, machinery and site cost about $3,000,000 and Mr. Spreckels has already begun to duplicate the buildings, so that the refinery may turn out 4,000,000 pounds daily.

The death of Jefferson Davis, ex-President of the southern confederacy, took place at New Orleans on Friday morning last, and the funeral was held in that city on Wednesday. Confederate and Union veterans joined in the service. Mr. Davis was born in Todd county, Ky., June 3, 1808, and graduated at the West Point military academy, but retired from the army in 1835 and entered politics. He was sent to the House in 1845, but resigned to go into the Mexican war. Returning from that he was made a Senator, in which capacity he served the most of the time till the breaking out of the rebellion. His later career is familiar to nearly every one.

Johnstown, Pa., was the scene of a terrible disaster Tuesday night, by which ten persons lost their lives and over 75 were injured, some very seriously. As the performance of the "Uncle Tom's Cabin" troupe was drawing to an end in the Main-street opera house, the fire-bell was rung, causing a frantic scramble for the exit. There were 500 or 600 men, women and children in the hall, and to gain the street, it was necessary to pass down a narrow walled-up stair-case and through a very narrow door. The people from the streets rushed into the door from the outside and many were crushed before they could be forced out. It was necessary to turn the hose on the crowd at the door before the rescuers could get at the dead and wounded.


Article from Butte Semi-Weekly Miner, December 14, 1889

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will Pay the Depositors

ABILENE, Kan., Dec. 12.-Bank Examiner Griffith took charge of the suspended First National bank this morning. He authorizes the statement that the assets will pay the depositors in full.


Article from The Great Falls Leader, December 14, 1889

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Depositions Safe

ABILENE, Kas., Dec. 13.-Bank Examiner Griffith, of the U. S. treasury, took charge of the suspended First National bank here today. He authorizes the statement that the assets will pay the depositions in full.


Article from The True Northerner, December 18, 1889

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An Abilene (Kan

) Bank Suspends. The First National Bank of Abilene, Kan., has suspended operations, and its affairs have been placed in the hands of the Deputy Comptroller of the Currency for settlement. The liabilities are placed at $116,000 and the resources at $800,000. The officers are all Kansas men.


Article from Wichita Eagle, December 19, 1889

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THE BANK'S AFFAIRS BAD

ABILENE,,Kan., Dec. 18.-Bank Examiner Griffin has completed his examination of the First National bank's affairs and forwarded his report today to the comptroller of currency. The totals are about as at first stated. The assets amount to $232,000; the liabilities to $116,000. The examination shows that a larger portion of the assets than was at first thought is worthless, being claims on persons of no financial standing. A receiver will be appointed in a few days.


Article from Wood County Reporter, December 19, 1889

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In a Bad State

ABILE, Kas., Dec. 11'-Careful estimates regarding the failure of the First National Bank, place the liabilities at $131,000 and the assets mostly western land mortgages, $210,000. The comptroller of currency has taken possession. The Kansas Farmer's Insurance Co., of which President Bonebrake of the bank is also president, will be somewhat affected by the failure, but no danger of suspension is considered.


Article from St. Paul Daily Globe, December 19, 1889

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A Receiver Will Be Appointed

ABILENE, Kan., Dec. 18.-Bank Examiner Griffith has completed his examination of the First National bank's affairs and forwarded his report to-day to the comptroller of the currency. The totals are about as at first stated. The assets amount to $232,000; the liabilities to $116,000. The examination shows that a larger portton of the assets than was at first suspected is worthless, being claims on persons of no financial standing. A receiver will be appointed in a few days.


Article from Crawford Avalanche, December 19, 1889

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An Abilene (Kan

) Bank Suspends. The First National Bank of Abilene, Kan., has suspended operations, and its affairs have been placed in the hands of the Deputy Comptroller of the Currency for settlement. The liabilities are placed at $116,000 and the resources at $300,000. The officers are all Kansas men.


Article from The Globe-Republican, December 25, 1889

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The Abilene Bank Failure

Bank Examiner Griffith has completed his examination of the affairs of the First National Bank of Abilene, and has forwarded his report to the Comptroler of the Currency. The totals are about as at first stated. The assets amount to $232,000; the liabilities to $116,000. The examination shows that a larger portion of the assets than was at first supposed is worthless, being claims on persons of no financial standing. A receiver will be appointed.


Article from The Saline County Journal, January 16, 1890

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GEO

A. ROGERS, of Solomon City, has been appointed receiver of the Abilene First National Bank. The appointment is a good one.


Article from The Iola Register, March 27, 1891

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KANSAS NOTES.

Potatos are in the ground at Sterling.

Game is a drug on the Lawrence market.

Falls City is to have a Catholic college which will cost $20,000.

W. F. Craig has been made associate editor of the Emporia Republican.

Winfield's college has started upon its third term with 300 pupils enrolled.

Sixty Republicans of Emporia have noinated Dr. G. A. Biddle for mayor.

The Morgan monument fund at Winfield now amounts to over $600.

More women will vote at the coming election in Wichita than ever before.

Killing and shipping wild geese is becoming quite an industry in Kansas.

Ex-Congressman Lewis Hanback has been appointed assistant adjutant general.

Miss May Allen has sued the town of Hiawatha, Kansas, for $2,500 because she fell off a bridge that had no guard rails.

The Hutchison salt company has purchased the Nickerson plant and will run it.

The average rainfall of the United States is 29-6 inches, and of Kansas 36 inches.

Two of the incorporators of the Congregational church at Manhatthn are women.

A Kansas woman began saving dimes a year and a half ago, and she broke her bank open the other the other day and counted cut $118.70.

The senior class at the agricultural college this year will consist of fity-two persons. It will be the largest class in the history of the institution.

Govenor Glick wants to see party lines drawn in the municipal canvass in Atchison this spring, and is mentioned as a candidate for mayor.

The city marshal at Ottawa says that since the enactment of the cider ordinance there has been a marked decrease in the number of police cases in town

Only one Democratic postmaster of the Presidential class remains in Kansas. His name is Michael Griffin, and he handles the mail at Frankfort. He was appointed February 28, 1888.

The receiver of the First National bank of Abilene has already declared two dividends of 15 per cent each, and believes that he will be able to pay the creditors 100 cents on the dollar.

The enrollment of the Ottawa university indicates a satisfactory growth. The enrollment seven years ago was 57, the next year 105, the next year 155, the next 185, the next 216, then xt 2:8 and this year, it is estimated, will reach over 300.

T. Johnson who was a candidate for constable at Emporia, has held that position ever since the organization of the township, over thirty years ago. He and Plumb used to fish together out of the Cottonwood when the latter was sticking type in the old News office at Emporia.

The Hon, George L. Douglas of Wichita, a member of the late house, publishes a two-column interview in which he roasts the house and the senate alike. He sums up: "The legislature of and no impartial critic will place the responsibility wholly upon either branch."


Article from Kansas Agitator, March 31, 1891

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KANSAS NOTES.

Potatos are in the ground at Sterling. Falls City is to have a Catholic college which will cost $20,000. W. F. Craig has been made associate editor of the Emporia Republican. Winfield's college has started upon its third term with 300 pupils enrolled. Sixty Republicans of Emporia have noinated Dr. G. A. Biddle for mayor. The Morgan monument fund at Winfield now amounts to over $600. More women will vote at the coming election in Wichita than ever before. Killing and shipping wild geese is becoming quite an industry in Kansas. Ex-Congressman Lewis Hanback has been appointed assistant adjutant general.

Miss May Allen has sued the town of Hiawatha, Kansas, for $2,500 because she fell off a bridge that had no guard rails. The Hutchison salt company has purchased the Nickerson plant and will run it. The average rain'all of the United States is 29-6 inches, and of Kansas 36 inches. Two of the incorporators of the Congregational church at Manhatthn are women. Nearly 1.000 voters have registered at Wellington, nearly one-third of whom are women. Independence enjoyed a snow storm the other day which was enlivened by thunder and lightning.

A Kansas woman began saving dimes a year and a half ago, and she broke her bank open the other the other day and counted out $118.70. The senior class at the agricultural college this year will consist of fity-two persons. It will be the largest class in the history of the institution. Govenor Glick wants to see party lines drawn in the municipal canvass in Atchison this spring, and is mentioned as a candidate for mayor. The city marshal at Ottawa says that since the enactment of the cider ordinance there has been a marked decrease in the number of police cases in town. Only one Democratic postmaster of the Presidential class remains in Kansas. His name is Michael Griffin, and he handles the mail at Frankfort. He was appointed February 28, 1888. The receiver of the First National bank of Abilene has already declared two dividends of 15 per cent each, and believes that he will be able to pay the creditors 100 cents on the dollar. The enrollment of the Ottawa university indicates a satisfactory growth. The enrollment seven years ago was 57, the next year 105, the next year 155, the next 185, the next 216, then xt 2:8 and this year, it is estimated, will reach over 300.

T. Johnson who was a candidate for constable at Emporia, has held that position ever since the organization of the township, over thirty years ago. He and Plumb used to fish together out of the Cottonwood when the latter was sticking type in the old News office at Emporia. The Hon, George L. Douglas of Wichita, a member of the late house, publishes a two-column interview in which he roasts the house and the senate alike. He sums up: "The legislature of and no impartial critic will place the responsibility wholly upon either branch."