First National Bank (Kearney, NE)

Episode Information

Episode Type
Suspension โ†’ Closure
Start Date
October 11, 1894
Location
Kearney, Nebraska (40.699, -99.081)
Bank Type
national
Charter Number
2806

Metadata

Receivership Details

Depositor recovery rate
36.7%
Date receivership started
1894-10-24
Date receivership terminated
1902-01-22
OCC cause of failure
Losses
Share of assets assessed as good
6.2%
Share of assets assessed as doubtful
78.4%
Share of assets assessed as worthless
15.4%

Notes

Authoritative known receivership date (1894-10-24) differs from some newspaper dates (Oct 10โ€“11); using provided receivership date.

Events (4)

1. October 25, 1882 Chartered
Source
historical_nic
2. October 11, 1894 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Directors closed bank and suspended payments because they could not make collections or realize on assets (indicating insolvency/liquidity failure).
Newspaper Excerpt
This bank has suspended payment owing to impossibility to make collections or of realizing on assets.
Source
newspapers
3. October 24, 1894 Receivership
Newspaper Excerpt
The controller of the currency ... appointed Mr. Henry E. Lewis receiver of the First National Bank of Kearney, which failed October 10, 1894.
Source
newspapers
4. October 24, 1894 Receivership
Source
historical_nic

Newspaper Articles (13)

Article from The Topeka State Journal, October 11, 1894

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Article Text

Bank Fails at Kearney, Neb. OMAHA, Oct. 11. -A special to the Bee from Kearney, Neb., says: At a little afternoon, the directors of the First National bank closed their doors and ordered the following notice posted: "This bank has suspended payment owing to impossibility to make colleclections, or realize on their assets."


Article from The Topeka State Journal, October 11, 1894

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Article Text

Bank Fails at Kearney, Neb. OMAHA, Oct. 11.-A special to the Bee from Kearney, Neb., says: At a little afternoon, the directors of the First National bank closed their doors and ordered the following notice posted: "This bank has suspended payment owing to impossibility to make colleclections, or realize on their assets."


Article from Santa Fe Daily New Mexican, October 11, 1894

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Article Text

A Bank Fails

Kearney, Neb., Oct. 11.-The directors of the First National bank closed its doors to-day and ordered the following notice posted: "This bank has suspended payment owing to the impossibility of making collections or of realizing on assets." There is no special excitement, the other banks not being effected.


Article from San Antonio Daily Light, October 11, 1894

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Article Text

Another Bank Busted

KEARNEY, Neb., Oct. 11.-The First National bank suspended payment, and closed doors this afternoon.


Article from Deseret Evening News, October 11, 1894

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Article Text

Closed the Bank

KEARNEY, Neb,, Oct. 11.-The directors of the First National bank closed the doors today and ordered the following notice posted: "This bank has suspended payment owing to the impossibility to make collections or realize on assets." There is no special excitement. The other banks are not affected.


Article from The Dalles Daily Chronicle, October 12, 1894

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Article Text

Nebrrska Bank Closed

KEARNEY, Neb., Oct. 11.-The directors of the First National bank closed its doors today and ordered the following notice posted: "This bank has suspended payment owing to the impossibility to make collections or realize on assets. There is no special excitement. Other banks are not affected.


Article from The Herald, October 12, 1894

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Article Text

A Bank Failure

KEARNEY, Neb., Oct. 11.-The directors of the First National bank closed its doors this evening and pested the following notice: "This bank has suspended payment, owing to impossibility to make collections or realize on assets." The bank had a capital of $200,000.


Article from Rock Island Argus, October 12, 1894

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Article Text

Nebraska Bank Suspends

KEARNEY, Oct. 12.-The directors of the First National bank closed its doors and ordered the following notice posted: "This bank has suspended payment owing to impossibility to make collections or realize on their assets." There is no special excitement on the street and the other banks are not affected.


Article from The Salt Lake Herald, October 12, 1894

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Article Text

BANK GOES UP

Kearney, Neb., Oct. 11.-The directors of the First National bank closed its doors this afternoon and posted the following notice: "This bank has suspended payment, owing to impossibility to make collections or realize on the assets." The bank had a capital of $200,000.


Article from The Guthrie Daily Leader, October 13, 1894

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The Kearney First National Closed

OMAHA, Neb., Oct. 12.-The First National bank of Kearney suspended at noon to-day, after asking and being refused a loan: of $25,000. No statement is made, but deposits are estimated at over $400,000. Impossibility to collect and to realize on assets at present is the reason given. Dr. Price's Cream Baking Powder World's Fair Highest Medaland Diploma.


Article from Evening Star, November 12, 1894

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Receiver Appointed

The controller of the currency today appointed Mr. Henry E. Lewis receiver or the Buffalo County National Bank of Kearney, Neb., which suspended payment October 11, 1894. Mr. Lewis is also receiver of the First National Bank of Kearney, which failed October 10, 1894.


Article from The Guthrie Daily Leader, November 13, 1894

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Receiver for Two Broken Banks

Washington, Nov. 12.-The ecraptroller of the currency has appointed Henry E. Lewis receiver of the Buffalo County National bank of Kearney, Neb., which suspended October 11. He is also receiver of the First National bank of Kearney, which failed October 10.


Article from Omaha Daily Bee, April 19, 1895

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Article Text

Changes in the Platte Institute

KEARNEY, Neb., April 18.-(Special.)Prof. C. A. Murch, who has had charge of the Platte institute since its opening, has resigned his position and will sever his connection with the institution at the close of this present term. Prof. Harry Russell of Chadron has been engaged to fill the position vacated by Prof. Murch. Messrs. H. H. Stoddard and H. D. Watson have made arrangements for handling and raising chickens and poultry of all kinds on an extensive scale. The business will be conducted under the name of the Watson & Stoddard Poultry company and the principal place of business will be on the Watson ranch three miles west of town. The building formerly occupied as a plow factory will be transferred into a vast hatching house and chicks will be hatched by the thousands by the incubator process. Stoddard is one of the poultry men of the United States, having had the experience of a lifetime. and is the publisher of the Poultry World and the Poultry Yard, besides being the author of a book on poultry breeding. It is expected that this will develop into one of the leading industries of the county. The receiver of the First National bank and the Buffalo County National bank has just sent out notices of assessment on the shares of stock in these banks. The assessment on the First National calls for 96 per cent and the one on the Buffalo County National 82 per cent. The indications for a large crop in Buffalo county were never better than they are now. The land is in splendid condition and everything is favorable. There is a large acreage of small grain being put in and farmers are feeling quite hopeful and happy. Yesterday was the fiftieth birthday anniversary of Rev. John Powers, pastor of the Congregational church, and his friends celebrated the event by calling on him and presenting him a handsome rocking chair. The presentation was made by C. B. Finch.