Article Text
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,
First National Bank (Abilene, KS)
Episode Information
- Episode UID
242701080- Episode Type
- Run → Suspension → Closure
- Bank Type
- national
- Bank ID
-
24270national - Charter Number
- 2427
- Start Date
- December 10, 1889
- Location
- Abilene, Kansas (38.917, -97.214)
Metadata
- Model
- gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
- Short Digest
d9c8606906757e86
Response Measures
Full suspension, Books examined
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%
Description
Contemporary reports give slightly different asset/liability totals; receiver appointment followed examiner's findings.
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 the failure of Lebold, Fisher & Co.; eastern depositors withdrew funds leading to heavy drafts.
- Measures
- None reported in papers; bank soon suspended.
- Newspaper Excerpt
- Many eastern depositors withdrew their deposits from the First National, and yesterday the drafts became so exceedingly heavy that enough cash could not be secured to transact the day's business.
- Source
- newspapers
3.
December 10, 1889
Suspension
- Cause
- Local Banks
- Cause Details
- Suspension followed heavy withdrawals and drafts after the failure of Lebold, Fisher & Co., leaving insufficient cash to transact business.
- Newspaper Excerpt
- The First National bank of this city has suspended business.
- Source
- newspapers
4.
December 18, 1889
Receivership
- Newspaper Excerpt
- A receiver will be appointed in a few days. Bank Examiner Griffith has completed his examination of the First National bank's affairs and forwarded his report to the comptroller of currency.
- Source
- newspapers
5.
January 21, 1890
Receivership
- Source
- historical_nic
Newspaper Articles (21)
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Article Text
Failure of a National Bank. ABILENE, Kas., Ibc. 10.-The First National Bank ofthiscity has suspended business. Since the failure of the bank of Lelold, Fisher & Co., confidence in the other banks has been somewhat shaken. Many eastern depositors withdrew their deposits from the FITSV National, and yesterday the drafts became so exceedingly heavy that enough cash could not be secured to transact the day's business. The liabilitles are placed at $116,000, and resources at $300,000.
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Bank Suspension at Abilene. ABILENE, Kansas, December 10.-The First National Bank of this city has suspended business. Since the failure of the bank of Lebold, Fisher & Co., confidence in the other banks has been somewhat shaken. Many eastern depositors withdrew their deposits from the First National, and yesterday the drafts became 80 exceedingly heavy that enough cash could not be secured to transact today's bneiness. The liabilities are placed at $116,000, and the resources at $300,000.
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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
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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.
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'SPARKS FROM THE WIRES. A man-of-war, flying the New Erazilian flag, is in American waters. Owing to n strike among the printers at Berne, Switzerland, several papers were compelled to suspend publication. Despite the amnesty declared in Crete, twenty Christians were recently brought before the authorities in chains and beaten with canes. It is believed Joseph G. Dillman, the wellknown retired paper manufacturer, of Philadelphia, was drowned in the Schuylkill river last night. The miners in the Saarbrucken district, Germany, have decided to strike. Those in the Louis. Euthal and Von der Heydt pita struck yesterday. The treasurer of the Irish National League yesterday cabled $15,000 to the treasurer of the Irish League for the use of the tenant's defense fund. The international chess tourney between Canada and the United States, conducted by correspondence, has been won by the Americans, the score standing 311/2 games to 191/4. Bank Examiner Griffith took charge of the suspended First National Bank of Abilene, Kansas, yesterday. He authorizes the statement that the assets will pay depositors in full. Lanra Stiver, a seven-year-old girl was assmulted in Tennessee yesterday by a white man named Will Cardin. A posse caught him last night and after identification lynched him. Emin Pasha had a restless night last night, disturbed by frequent severe paroxysms of coughing. He is unable to swallow solid food. His bruises continue very painful. Otherwise his condition is unchanged. A Pioneer Press special from Brown's Valley, Mich., says the Sisseton Indians began signing the treaty opening the reservation to day. It is believed beyond a doubt a sufficient number will sign to carry this messure through. The report that Gen. Sickles' daughter had eloped with a bartender, was a mistake. The lady referred to was probably Gen. Sickles' half-sister, a daughter of his father's second wife. Gen. Sickles' daughter is in Spain, and been for some years. Julius Schutte, a well known money lender and real estate man, of Minneapolis, has been arrested. He was indicted by the last grand jury for forgery and for complicity in the alleged crime of J. Frank Collom, tried a short timeago. Influenza is spreading throughout Germany. The administration of justice in the courts is suspended because all the judges are down with the epidemie. It is proposed to close all the schools, especially at Dantzie, where half the children are affected.
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COONEY THE FOX IN JAIL. MILWAUKEE, WIS., Dec. 12.-A dispatch to the Sentinel from Dodgeville, Wis., says: "Developments yesterday seem to leave no doubt tnat Cooney the Fox, one of the men wanted for the Cronin murder, is now in jail in this city. He no longer denies his identity. An officer is on the way from Chicago after him." ABILENE'S BANK CRASH. Depositors Will be Paid in FullStockholders May Suffer. 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. The stockholders will suffer, owing to the impossibility of realizing cash upon much of the paper held. The best estimate made of the liabilities is $116,224 and of the nominal assets $238,492. Business firms of the city are unaffected by the failure, as it was not unexpected, and their interest in the bank was reduced to a small figure.
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Eastern Echoes. It is reported that E. S. Mordaunt, of the firm of E. S. Mordaunt & Co., investment bankers, Boston, has left the city, leaving a number of creditors. The nuptials of Miss Auna Mages, daughter of General George Magee, President of the Fallbrook railway, and D. A. Boissevain, a London banker, were celebrated at Watkins, N. Y. Thursday. Bank Examiner Griffith has taken charge of the suspended First National Band of Abilene, Kansas. He authorizes the statement that the assets will pay the depositors in full. Wm. Ewing, of the New York baseball club, and Annie Lauson McCraig, were married at Savannah, Ga., Thursday night. Miss McCraig is a daughter of an ex-Confederate General. A Pioneer Press special from Brown's Valley, Minn., says: The Sisseton Indians have begun signing the treaty for opening their reservation. It is believed beyond a doubt that a sufficient number will sign to carry the measure through. At Kalamazoo. Mich., suit has been commenced by Davis Fischer. guardian for Charles W. Noyes, inventor of the famous Noyes cart, who is now in an asylum, against R. Arthur Stone, charging him with having fraudulently procured a transfer from Noyes of the patent, which, with the royally, amounted to $10,000. The bill asks the transfer to be set aside and for an injunction restraining Stone from disposing or encumbering the patent, and also that he give an accounting of royalties.
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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.
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GOOD NEWS FOR DEPOSITORS The Abilene Bank's Assets Will Pay Them in Full. ABILENE, Kas., Dec. 12.-Bank Examiner J. M. Griffith took charge of the suspended First National bank this morning. It will be several days before his report to the comptroller of the currency can be made. He authorizes the statement that the assests will pay depositors in full. The stockholders will suffer owing to the impossibility of realizing cash upon much of the paper held. The best estimate made of the liabilities is $116,224.59; of nominal assets, $238,392.67. Business firms of the city are unaffected by the failure as it was not unexpected and their interests in the bank were reduced to a small figure.
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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.
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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.
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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.
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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.
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BEING SETTLED. The Bank Examiner in Charge of the First National. The National bank examiner for Nebraska and Kansas, Mr. J. M. Griffith, of Wahoo, Neb., arrived last night and in pursuance of instructions from the comptroller of the currency took charge of the First National bank's office; and books. The REFLECTOR representative called on Mr. Griffith this afternoon and found him busily engaged looking over the books of the institution. It will be several days, he said, before he can make a detailed statement of the bank's actual condition. When it is prepared it will be transmitted to the comptroller and he will determine what course is to be taken in settling up the bank's affairs. It is probable that a receiver will then be appointed who, upon giving satisfactory bonds, will proceed to dispose of the assets and turn over their sum to the depositors and stockholders. Mr. G. remarked that the depositors, upon proving their claims, would be the first ones satisfied-a fact that will be appreciated by those having money in the bank's vaults. From henceforth the entire management of the institution is in the government's hands and the officers have turned over all memoranda and certificates to the examiner. When his work is completed our readers will be given fuller details of the bank's condition.
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MISCELLANEOUS. Hog cholera is prevalent in several districts in Kansas. In Greenwood county, alone, thousands of hogs have died from the scourge. The First National Bank of Abilene. Kan., suspended business, caused by Enstern depositors withdrawing their money. Liabili ties. $116,000; assets, $300,000. The projected railroad communication between the United States, Central and South America is favorably considered in Mexico and it is believed the government will aid such an enterprise,
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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.
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RECENT REFLECTIONS. - The Herington schools are purchasing a library. -Herington has a new bank. Wil son Bros. are the proprietors. -The grain buyers prophecy higher prices for corn and wheat soon. -Abilene is for Kansas and will work unselfishly to bring immigation to the state. -Mayor Masch, of Chapman, has purchased an interest in Carroll's clothing house there. -What is the matter with Abilene property? The new year starts out with a $20,000 deal. - There is said to be a sad wreckage of new year resolutions strewn on the beach of time already. -Samuel Lady and Miss Ollie Frey were married at the home of the bride in Cheever, December 31st. -Geo. A. Rogers, of Solomon, is in the city familiarizing himself with his duties as receiver of the First National. -Measles are all the rage in the city, large number of children being ill with the disease, as well as some grown people. -The county high school has an assistant teacher in the person of C. N. Gaines, late of Hutchinson. The school now has five teachers. -The Hutchinson News says of Tom Wilson's paper, "The new Colorado paper, called the Watermelon, will grow to greatness upon the grapevine plan." -Herington Times: Prof. Bagley, the Abilene florist, had a âne lot of natural flowers on sale at the ball New Years eve and we noticed that he was well patronized. -Prof. and Mrs. Bagley hand us the following: Will you permit us the use of your paper to return our heartfelt thanks, to our neighbors, friends and Lose company for their assistance in outdoing the fire on our premises on last Tuesday night." --A dispatch says that Gerald Volk, of the Kansas press, till lately with the Kansas Newspaper Union and well known in this city, has fallen heir by the death of an uncle in Germany to $100.000, but he is the same jolly, all-around rustler as when he only had **15 cents in his inside pocket." - About half the population issuffering from severe colds The physicians say blick it is not the simon-pure influ4028, but is such au epidemic of colds as suight expected with such weather as we have been having-wind, sudden changes and now extremely low temperature. It IS no more influenz they doclars, than any colds which affl.et a community when there are weather chouges. --10 is interesting to note that during 1889 hogs never brought over $5.10 in Kannus City and beeves $5.65. In 1882, June 10th, the latter sold at $7.40 and hogs in January of 1875 at $8.25, the highest quotations for fifteen years. The average prices have been for hogs $5.83 and for sleers $5 93. The lowest quotation for hogs was $2.00, in Januany and December, 1878-9. The lowest quotation in 1889 was $3 30, Dec. 27th. - The appointment of the receiver of the First National must be a bitter pill to the prominent Abilene lawyer who has been vigorously blowing his own hern for the position and even made a trip to Atchison to get some high politleal inflaence to bear on the subject. Not only would his appointment have been unfortunate for the creditors' Interest but it would have been illoys! Were his legal knowledge as extension as his supply of gall he would know that the law requires that reseivers of National banks must be non-residents of the city in which the Institution is situated.
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His Work Completed. National Bank Examiner J. M. Griffith has turned over the First National's affairs to Receiver Rogers and leaves for his home, Wahoo, Neb., tomorrow. Mr. Griffith, by his straightforward and business like management of matters, has made many friends during his stay in the city. He is a banker by profession and was in the business in Omaha for twelve years. He says that besides the First National there was but one other national bank suspended during 1889, out of the 3,300 in the United States. He is certain that the depositors will be paid in full. The stockholders will receive no dividends to speak of-probably none at all.
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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."
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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."