Kansas City National Bank (Kansas City, MO)

Episode Information

Episode Type
Suspension β†’ Closure
Start Date
July 14, 1893
Location
Kansas City, Missouri (39.100, -94.579)
Bank Type
national
Charter Number
3489
Alt. names
National Bank

Metadata

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1895-03-18
Date receivership terminated
1908-07-01
OCC cause of failure
Losses
Share of assets assessed as good
20.8%
Share of assets assessed as doubtful
50.0%
Share of assets assessed as worthless
29.2%

Notes

Articles cover two distinct crises: a July 1893 run/suspension with an October 1893 reopening, and a final March 1895 suspension leading to receivership.

Events (8)

1. April 13, 1886 Chartered
Source
historical_nic
2. July 14, 1893 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank suspended payment and was placed in hands of the comptroller following heavy withdrawals and apparent insolvency pressures.
Newspaper Excerpt
The National Bank of Kansas City suspended payment yesterday afternoon, and is now in the hands of the comptroller of the currency.
Source
newspapers
3. July 15, 1893 Run
Cause
Bank Specific Adverse Info
Cause Details
Failure/sudden suspension of the National Bank of Kansas City precipitated runs on several city banks.
Measures
Appealed to the Clearing House for assistance; directors pledged estates (other banks) and published statements of condition.
Newspaper Excerpt
This was the most critical day in the banking history of Kansas City. Runs were made on all the banks.
Source
newspapers
4. October 10, 1893 Reopening
Newspaper Excerpt
The doors of the National Bank of Kansas City, which suspended on July 14, were thrown open for business at 9:30 o'clock.
Source
newspapers
5. March 18, 1895 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Steady withdrawals and weakened condition after earlier 1893 suspension; unfavorable statement of the bank's affairs precipitated failure to open and suspension.
Newspaper Excerpt
The National Bank of Kansas City failed to open its doors this morning. ... The comptroller of the currency today received a telegram announcing the suspension of the National Bank of Kansas City.
Source
newspapers
6. March 18, 1895 Receivership
Source
historical_nic
7. April 12, 1895 Receivership
Newspaper Excerpt
The comptroller of the currency today appointed John Perry of Kansas City as receiver of the National bank of Kansas City, Mo.
Source
newspapers
8. June 27, 1895 Other
Newspaper Excerpt
John Perry, receiver ... announced that the bank would begin the payment of the dividend to-day at 9:30 o'clock a. m.
Source
newspapers

Newspaper Articles (25)

Article from The Wilmington Daily Republican, July 15, 1893

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Depositors Will Not Lose

KANSAS CITY, Mo., July 15.-The National Bank of Kansas City suspended payment yesterday afternoon, and is now in the hands of the comptroller of the currency. The assets will be between $9,000,000 and $3,000,000, and the liabilities between $800,000 and $1,000,000. President Chick is confident that the depositors will be paid in full.


Article from The Waco Evening News, July 15, 1893

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BANKS IN KANSAS CITY Two Failed and Others Standing Heavy Runs. A MINING SYNDICATE FAILS A Libel Suit Against a City Cannot be Maintained. Kansas City Banking Troubles. By Associated Press to The News. KANSAS CITY, July 15.-The Northrup bank of Kansas City, of which J. S. Stick of the National bank of Kansas City, Mo., which failed yesterday, was also president, closed its doors this morning. Bank Examiner Galbreath took charge of the suspended Kansas City National bank this morning. There was quite a run on the National Bank of Commerce as soon as that concern opened for business this morning. In a state. ment made yesterday the condition of the bank was shown to be good, and the officials assert that they will be able to stand a long run, which, however, they think will not be necessary. But little excitement prevaile, and it is thought the bank will pull through all right, as it ranks with the strongest in the city The directors of the Bank of Commerce held a meeting " consider the financial situation yester. day. After very careful examining into the condition of the bank the members of the directory signed as agreement individually pledging their entire estate for the security 8 of depositors. There was not a member of the board who hesitated to sign the paper that made him liable for the entire amount of the a deposits held by the bank, 80 great t was their confidence in the bank's e stability. The directorate repre. sents a combined wealth of two o million dollars.


Article from The Evening Herald, July 15, 1893

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Depositors will Not Lose

KANSAS CITY, Mo., July 15.-The National Bank of Kansas City suspended payment yesterday afternoon, and is now in the hands of the comptroller of the currency. The assets will be between $2,000,000 and $3,000,000, and the liabilities between $800,000 and $1,000,000. President Chick is confident that the depositors will be paid in full.


Article from The Sun, July 16, 1893

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BOBTON CLOSING QUOTATIONS

Bid. Asked. ENL Asked. 206 Bes. & Albany West'house E. 21% 22% Bos. & Maine 150 158 West End Land 12 14 60 N.Y. & N. E. p. 55 Calumet & H. 270 273 Mex. Cent. 4s. 48 50 T. & N. F. 4a. 76 Old Colony 170 178 39 T. & S. .in. 381/6 Amer. Bell Tel 1794 180 PHILADELPHIA CLOSING QUOTATIONS. Bid. Asked Bid. Asked 40 Lehigh Valley 50 Penna. R. R may 50% L.C.A Nav. Co. 50 Met. Traction 95 LATEST LONDON QUOTATIONS. Atchison 204 19% Norfolk & Western pf. Canadian Pacific 73M 304 Northern Pacitic pf krie Common Ontario & Western 1436 18% Erie 24 consols 5146 Pennsylvania 85% Ilitions Central 92 Reading 7% Kansas & Texas St. Paul 62% 91/6 Lake Shore 122 Union Pacific 224 Lou. & Nashville 57% Wabash of 15% A.J. Central 1041 SATURDAY, July 15. Expectations that this week would see an easier money market have been to an extent fulfilled. The rates for money on call indicate a somewhat better supply of loanable funds and also a little more confidence as compared with the immediate past. The change is discernible to a less extent in the time money market, but as yot has not affected dealings in commercial paper. The tendency. however. is encouraging. and. unless something occurs to unsettie confidence afresh. a fairly comfortable expected. money The financial market may community reasonably regards be the week with a good deal of satisfaction. because It had generally been expected that the last five or six days would determine whether or not the enormous July disbursements were to be hoarded and possibly other amounts withdrawn from institutions timid It now there has been fors. plain that by deposi- no appreciable increase in the amount of money Withheld from circulation. The effects of the stringency. which has not Nevertheless, yet entirely passed confessions away. of are inability still being to meet felt. engagements this week have not been imporuntil the of tast of Kansas City suspension yesterday of the and National that Bank the Schlesinger iron syndicate to-day. OccurFORCOA of this character are certain to take place from time of for the country for to time weeks in various and possibly parts months to come. for enterprise and conflhave dence speedy recovery received can hardly a blow be from expected. which A a good deal will depend upon the action of Congress when it assembles in about three weeks, and it would Silver in the Sherman seem that law. the as expressed sentiment against various ways. should be strong enough to compel prompt decision from Congress. Indications are not wanting that by the time Rougress convenes. or soon after. the foreign


Article from The Sun, July 16, 1893

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THE KANSAS CITY SCARE

A BANKING COMPANY AND A SAVINGS BANK CLOSE. The National Bank Failure Starts n RunCrowds Upon the Streets-Banks Pull Through-Reports of Their Condition. KANSAR CITY. July 15.-This was the most critical day in the banking history of Kansas City. Runs were made on all the banks. The Northrup Banking Company and the Franklin Saving Bank closed their doors on account of the failure of the National Bank of Kansas City yesterday afternoon. The bankers opened their doorΓ© this morning expecting runs of more or less consequence. The banks were prepared as well as could be expected to withstand any attack. As soon as the doors of the Bank of Commerce. the Missouri National. the Metropolitan. the Union National. and the Midland were thrown open the people began to collect about them. and many drew out their deposits. The Ferd Heim. Brewing Company dumped $33,000 at the receiving window in the Missouri National Bank as its daily deposit. and a better feeling spread among the assembled depositors. Atthe windows of this bank hung the sign: This bank will be open until 12 o'clock tonight. "D. V. RIEBER. President." Ninth and Delaware streets, the moneyed thoroughfares of the city. were lively places. Each was thronged. The crowds began gathering about 8:30 o'clock. and so steadily increased that the force of policemen was doubled. The officers kept the people moving. The Northrup Bank. which failed this morning for half a million dollars. was founded by Hiram Northrup and Joseph S. Chick. President of the National Bank of Kansas City. in the year 1857. It has always been regarded as a solid concern. and until the death of its President and founder. a few months ago. its depositors never had a thought of its failing. The eight national banks of the city have just completed statements of their condition at the close of business last Wednesday, in response to a call from the Comptroller of the Currency. They show that the banks have total deposits to the amount of $11.789.597. and cash on hand $4,426,105. or a little over 37.5 per cent. of the deposits in actual cash in the vaults. despite a long-continued withdrawal of deposits. If to the cash on hand is added assets immediately available in the form of demand loans and United States and State bonds, the total reserve is swelled to 47 per cent. of the deposite. This is considered by financial men to be an exceedingly good showing when 25 per cent. of the deposits is supposed to be sufficient to be kept on hand. Large amounts of Government. State. and. municipal bonds also are held by the banks. Concerning the condition of the National Bank of Kansas City President Chick says: Our assets will approximate $4,000,000. They consist of $3,000,000 in commercial. mercantile. and bank loans and nearly $1,000,000 worth of property. on May 1 we had a reserve fund of about $1,500,000. but soon after that time the withdrawal of deposits began and has continued ever since. increasing day by day. Since May 1 over $2,000,000 have been drawn out. and on the day that the Kansas City Safe Deposit and Savings Bank suspended we stood a drain of about $150,000. Lately we have paid out on an average $100,000 a day. and we did all that was possible to avert the crisis which we saw approaching. Thursday afternoon the bank appealed to the Clearing House for assistance. The sum asked for approximated $1,000,000. and the Clearing House responded with $35,000." It is believed that Monday will find a better feeling and no new failures.


Article from Richmond Dispatch, July 16, 1893

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Kansas Bank Closes

KANSAS CITY, Mo., July 15.-The North. rup Bank. Kansas City, Kan., of which J. S. Chick, of the National Bank of Kansas City, which failed yesterday. was also president. closed its doors this morning. Bank-Examiner C. W. Galbreath took charge of the suspended Kausas City Na. tional this morning.


Article from The Russellville Democrat, July 20, 1893

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WILL PULL THROUGH

This Bank is All Right, According to Its Statement. KANSAS CITY, July 15.-The Northrup Bank, Kansas City, Kan., of which J. S. Chick, of the National Bank of Kansas City, which failed yesterday, is also president, closed,its doors this morning. Bank Examiner Galbreath took charge of the suspended Kangas City National Bank of Commerce as soon as that concern was opened for business this morning. In its statement made yesterday the condition of the bank was shown to be good, and the officials assert they will be able to stand. The statement showscash on hand, $1,141,655, with deposits of $2,977,237, showing more than 25 per cent. reserve than required by law ; capital, $2,000,000. But little excitement prevails. It is thought the bank will pull through all right, as it ranks with the strongest in the city.


Article from Warren Sheaf, July 20, 1893

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BORELY TRIED

Tansas City Banks Forced to Stand Heavy Run-All Demanda Promptly However-Business Troubles at Other Points. KANSAS CITY, Mo., July 16 -Saturday was trying day for the banks of Kansas City but they weathered the storm admirably The failure of the National bank of Kansas City five minutes before closing time Friday created a very panicky feeling and all the bankers opened their doors Sat urday morning expecting 'runs' of more or less consequence. The publication of the statements of all the banks in the morning papers was calcu lated to restore confidence. The banks were prepared as well as could be to withstand any attack and as soon as the doors of the Bank of Commerce the Missouri national. the Metropolitan, the Union national and the Midland were thrown open the people began to collect about them and many drew out their deposits. Only however, in the Bank of Commerce. the Missouri and the Metropolitan were there any well-defined runs, and these banks withstood them successfully A run by heavy depositors caused the suspension of the Northrup bank. the oldest financial institution in Kansas City, Kan The assets are placed at $475,000, with liabilities amounting to $315,000. The Armourdale bank at 415 Kansas avenue, Armourdale, suspended pay. exent at 3 o'clock in the afternoon and was placed in the hands of Bank Commissioner Breidenthal of Kansas. The liabilities are $35,000 and the assets about double that amount A number of the Karsas City banks kept openuntil 6 o'clock, but very few of the depositors availed themselves of the opportunity to withdraw their money. The banks are amply prepared to meet any further demands made upon them, but it is thought that the flurry is over and the excitement ended. CLEVELAND O. July 17.-A dispatch from Ishpeming, Mich., says that the Schleisinger syndicate, the largest ore operators in the world, are in difficulty owing to the depression in the trade. Adolf Schleisinger, one of the organizers of the syndicate, says the output was reduced 25 per cent. some time ago All the mines are in Michigan and the central of fice is in Milwaukee. The plants owned by the syndicate are: The Chapin Mining company, the Buffalo Mining company, York Mining company, Arogan Mining company, Claire Mining company and Sunday Lode Mining company. These individ ual companies, all owning mines. were consolidated four years ago by Schleisinger Brothers, and, it is said. on insufficient capital. It is also said the syndicate went too deeply into railroad building Schlesinger's properties have over $1,000,000 worth of paper held by Milwaukee banks, and it is considered probable they will help him out Schlesinger began operations four years ago and has cut a large figure in the iron trade. He was embarrassed ten years ago, but sold the Escanaba, Iron Mountain & Western railway to the Chicago & Northwestern railway and pulled out of difficulties. If matters cannot be fixed here it will probably lead to trouble at his numerous other mines, employing nearly 2,500 men all told. PEORIA. Ill., July 19.-William Oberhauser's private bank failed Saturday much to the surprise of the community The liabilities are $60,422 against scheduled assets of $69,637. The assignment is due to the loss of money in the American national bank at Kansas City, and it is the first to be made here during the present financial troubles. The bank was an old-established institution. Charles Tehrmann is assignee. CARMI, III. July 17 The old banking-house of Hay & Webb has made a general assignment to P. A. Pearce. Assets, $216,267; liabilities, $180,000 Hay & Webb have been in business here for thirty-five years and enjoyed the confidence of the entire community Large loans on long time. large sums invested in real estate and the stringency of the money market caused the failure. All creditors will be paid in full. CHICAGO, July 17.-The George W. Ludlow Shoe company made an assignment in connection with its failure at Elgin. This is one of the largest wholesale shoe concerns in the country. It removed its factory and offices from Chicago to Elgin January 1 last and since that time has conducted its business in the latter city, No financial statement has been made. NEW YORK, July 7.-Chancellor McGill at Jersey City has appointed John C. Paul, of Plainfield, N.J., receiver of the Garwood steel works. The company was originally a Boston concern The works are at Garwood, N. Y and $300.00 has been lost in following Γ  new process in making steel car wheels CHICAGO, July The Bouton Foun dry company, located at Thirty-ninth street and Evans avenue, made an as signment in the county Saturday in favor of the Equitable Trust company. The assets are figured at 8175,000; liabilities at $200,000. CINCINNATI, July 17. The John Kauffman Brewing company went into the hands of a receiver Saturday Pressing claims and inability to obtain ready_cash caused the action. The assets are given at $600,000 and the liabilities only $150,000. WAYLAID THE SHERIFF. An Arkansas Officer Shot and Robbed of $12,000 Near Memphis. MEMPHIS,Tenn.,July 17.-Friday night heriffWerner.of_Crittenden county


Article from Eagle River Review, July 20, 1893

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DENVER BANKERS FAIL

a The Colorado Metropolis, Experiences Severe Financial Blow. Col., July 17.-The first bank DENVER, in Denver since 1874 occurred Savfailure morning, when the Savings People's Bank this Bank, the Colorado Dime and ings the Rocky Mountain their doors. and Savings Bank closed $1,500,000 An Dollar estimate of the assets are with liabilities Colorado at Savings $1,330,000. Bank, of which o. AtF. The K. Atkins is president statement and C. to the kins cashier, Frederick in their Butters, place at the assignee, due depositors accounts $50,699.36; $435, open certificates of deposit, cashier's 108.54; other banks, $3,236.95; over liabilidue $625. Their assets good comchecks, what is declared to be is $73, ties mercial in paper, well secured, G. 063.72. F. W. Woodbury is the president Rocky and Mountain F. Clark Dime cashier and Dollar H. of Blakeny Savings was Bank, this of made been made, but morning which Charles assignee. A detailed it has not yet institution statement books of the the assets from would the appear and that the liabilithe are $156,803.53 The officers the of deinstitution ties $105,654.32 positively assert dollar. that It is unwill not lose a were derstood positors that all the was assignments done for self-pro- detection preconcerted and for and the protection cause of of the the failpositors. the The universal direct securities. hard times and ures was realize on the inability President Lawrence. to of this People's mornBank, in a up to six deposit Savings ing, weeks said ago the had savings a most $1,300,000 successful bank and career had $112, having paid Saturday 482. May means 23 to The of and its in was night the causeless depositors really bank left when continued but were the run in to entire exhausted which 'interest pledged assign. up available started to their The and last nothing of the institution but the feeling has been officers to its support, among Eastern published been estates that recently banks and engendered financial expressions institutions her- and by alded the demonstrations from Colorado that or $1,000 that have a signed thirty-day by to note for worth Colorado immediate money was raise $100,000 parties written upon. $4,000,000 not made worth to the paper it was efforts were Most persistent assistance to tide this the obtain temporary to four days ago, bank over assistance was but convention and up banks, promised since the by in Eastern of the recent all over this the doings city became known were cancelled left country these promises no alternative was nearly by telegraph and amounting of to deposwith notice for the near maturing banks $500,000 future its staring the within hand paid down in the for to the $223-but face and the to cash make and on benefit a.full assignment of all. in The no National the protection Savings Bank will Bank failure affect in the People's other national banks, trouble is way which, with sound, all and there is no is Bank perfectly outside the savings bank. Savings Arunon the The Denver bank is taking advan; days impending. and sixty tage of the and is paying over CITY, Mo., July the publishing of strength Saturday, assertions amounts notfication KANSAS law thirty $25. statement and 17.-Despite taken out pos- the no of a favorable Bank was the of by the comptroller noon to-day. rency shortly closed as to get bank was was impossible session Missouri and National immediately it before officers. of The tight Mis- cur- The as a a clam from the new bank, having in January, of $250,000, and ital stock, According in to statement Saturday the request and of surplus souri statement opened National is paid $6,000. in, is a 1891. issued It has a com- their sight cap- the its pliance with of currency, cash $271,024, and comptroller were placed at The officers exchange at $900,763. Henry C. Kumpf, are the D. deposits V. ice-president; Rieger, president; R. D. Covington, cashier. officers show the assets excepting to be cap- $1, 154,78 The and the about liabilities, $700,000. nation- During ital stock the different quite the run on here Saturday, the Missbanks was precipitated the withdrawals a run National, though the small alone morning, al ouri were made by however, money, several deposithe made further tors. large depositors This amounts, withdrew running their well continu- up into impossible. by ance and the thousands, was brewer, restored For a while deposition slight Ferd. lost confidence a local at this soon Heim, in the concern, Aid had been asked New $32,000 effect for good.e National Bank was of the Third assistance its from York and the bank paid cent. the on City On July 1 the 3 per official the annual that depositors regular way. declared dividend dollar. of The will be paid dollar for


Article from Western Kansas World, July 22, 1893

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National Bank of Kansas City

The National Bank of Kansas City sus-: pended, and a notice placed in the window stated it had been placed in the hands of a receiver. The bank's capital is $1,000,000. Assets between $2,000,000 and $3,000,000; liabilities, $1,800,000. Considerable excitement is caused by the suspension, as it has been entirely unexpected. Its president is J. S. Chick. one of the best known financiers in the west.


Article from Santa Fe Daily New Mexican, August 7, 1893

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out on demand the whole of its deposits. They are not available from its very nature. If times are hard and scared depositors form a line in front of the window, a good bank will have to suspend before over a third of them are satisfied unless other capital comes to its aid. The report of the bank examiner in the case of the MisNational of Kansas City shows it to have been perfectly solvent and in exceedingly good shape. It was forced, however, to suspend in a few hours. This is not as it should be. A bank that does all your business, pays your debtors, cares for your credit, and is your best friend in adversity is worthy of some confidence. If times are hard for the depositor they are equally so for the bank, and its collections are relatively as scanty. The safe deposit charges you a fee for hiding away your wealth. The bank keeps your money in circulation and bouys up the public credit. The reports as to the condition of 80 many suspended banks is not a favorable criterion to the common sense of the common people. Think a while before you start a bank run again, good people.


Article from The Providence News, August 28, 1893

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National Banks Reopen

LOUISVILLE, Auz. 28.-The Fourth National mank. one of thefive Louisville banks to suspend paymentduring the recent panic, has resumed business. The City Nationat" and the Merchants National will also resume in a few days. CRICAGO, Aug. 28,-At a meeting of the stockholders of the National Bank of Kansas City it was unanimously decided to resume the business of the bank.


Article from The Seattle Post-Intelligencer, October 9, 1893

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Business Troubles

NASHVILLE, Oct. 8,-The Safe Deposit Trust and Banking Company, of this city, has made an assignment for the benefit of creditors. Liabilities, $224,056. Assets estimated about the same. Lack of business is assigned as the cause of the failure. The company claims creditors will be paid in full. KANSAS CITY, Oct. 8.-The National bank of Kansas City, which failed last summer, will open for business tomorrow with $1,000,000 capital.


Article from Abilene Weekly Reflector, October 12, 1893

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Chick's Bank Reopened

KANSAS CITY, Mo., Oct. 10.-The'doors of the National Bank of Kansas City, which suspended on July 14, were thrown open for business at 9:30 o'clock. Two national banks suspended in Kansas City during the flurry and now both have resumed and are doing business on a more solid basis than UYV"


Article from The State Republican, October 12, 1893

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WEST AND SOUTH

Two THOUSAND persons killed and 15,000,0000 worth of property annihilated is the record of the great gulf storm in Louisiana. There has never been anything approximating it since the country was settled. More than half the population in the region over which the hurricane swept are dead. One house in ten is standing and the surviving population is left in a most destitute condition, without food or even clothing, for nearly all were sleeping when their houses were crushed by the wind or the waves. Six prisoners confined in the county jail at Bowling Green, O., escaped by digging a hole through the foundation, one of them being a murderer. THE National bank of Kansas City, Mo., which recently suspended, has been permitted to reopen for business. IN St. Louis at the bimetallic convention resolutions were adopted strongly advocating the free coinage of silver, opposing the further issue of government bonds and demanding the speedy improvement of all great western and southern waterways. THE town of Fulton, Ark., a thriving place of several thousand inhabitants, was entirely destroyed by fire. THE death of ex-United States Senator Groome occurred at his home in Baltimore, Md. He was elected governor of Maryland in 1873, and at the expiration of his term served one term in the senate.


Article from Warren Sheaf, October 12, 1893

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WEST AND SOUTH

PAUL KAZMIRE, a wealthy farmer at Brenham, Tex., shot and instantly killed his wife and then fatally shot himself. Jealousy was the cause. AT Columbus, 0., Ralph Smith, aged 13, accidentally shot and fatally injured George Mason, aged 16. TEXAS has perfected arrangements for filing suits to recover 1,000,000 acres of school lands under the act of 1883. TWELVE prominent residents near Columbus, Ind., were indicted by the grand jury for cruelly whipping a woman. THE death of Erastus Wells, ex-congressman, and the first to operate an omnibus west of the Mississippi, occurred at St. Louis. AN unknown person placed a dynamite cartridge between Eliza Dent and Houston Kelly (colored) at Paris, Ky., killing both of them. FULLY 10,000 men were said to be idle in the Mahoning valley, Ohio, and many were suffering for the necessaries of life. Two THOUSAND persons killed and $5,000,0000 worth of property annihilated is the record of the great gulf storm in Louisiana. There has never been anything approximating it since the country was settled. More than half the population in the region over which the hurricane swept are dead. One house in ten is standing and the surviving population is left in a most destitute condition, without food or even clothing, for nearly all were sleeping when their houses were crushed by the wind or the waves. Six prisoners confined in the county jail at Bowling Green, O., escaped by digging a hole through the foundation, one of them being a murderer. THE National bank of Kansas City, Mo., which recently suspended, has been permitted to reopen for business. IN St. Louis at the bimetallic convention resolutions were adopted strongly advocating the free coinage of silver, opposing the further issue of government bonds and demanding the speedy improvement of all great western and southern waterwava.


Article from The Globe-Republican, October 13, 1893

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Chick's Bank Reopened

KANSAS CITY, Mo., Oct. 10.-The'doors of the National Bank of Kansas City, which suspended on July 14, were thrown open for business at 9:30 o'clock. Two national banks suspended in Kansas City during the flurry and now both have resumed and are doing business on a more solid basis than ever.


Article from People's Voice, October 13, 1893

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Kansas City National Again Open

KANSAS CITY, Mo., Oct. 01. - The doors of the National Bank of Kansas City, which suspended on July 14, were thrown open for business at 9:30 o'clock this morning. Two national banks suspended in Kansas City during the flurry and now both have resumed and are doing business on a more solid basis than ever.


Article from Evening Star, March 18, 1895

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FAILED TO OPEN

The National Bank of Kansas City Forced to Suspend. KANSAS CITY, Mo., March 18.-The National Bank of Kansas City failed to open its doors this morning. The direct cause of the failure was the unfavorable statement of the bank's affairs given out March 5. In the panic of 1893 the bank suspended, but through an arrangement between depositors and the stockholders it was permitted to resume business. The steady withdrawal of deposits since that time has placed the bank in an embarrassing position and necessitated another suspension, The statement given out is not complete. It shows assets of $1,800,000, liabilities, $1,050,000. The Star this afternoon will say editorially that none of the other banks of the city will in any way be affected, being in splendid condition. The controller of the currency today received a telegram. announcing the suspersion of the National Bank of Kansas City. Bank Examiner G. W. Galbreath was immediately appointed temporary receiver.


Article from The Record-Union, March 19, 1895

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WASHINGTON, March 18.-The Comptroller of the Currency to-day received a telegram announcing the suspension of the National Bank of Kansas City. Bank Examiner Galbraith was appointed temporary receiver. The capital stock is $1,000,000, with assets at the face value amounting to nearly $2,000,000, of which $170,000 is cash on hand and due from other banks. The liabilities are estimated at $1,084,0000.


Article from The Herald, March 19, 1895

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Suspension of a Bank Washington, March 18. - The Comptroller of the Currency today received a telegram announcing the suspension of the National Bank of Kansas City. Bank Examiner Galbreith was appointed temporary receiver. The capital stock is $1,000,000, with assets at face value, amounting to nearly $2,000,000, of which $170,000 is cash on hand and due from other banks. The liabilities are estimated at $1,840,000.


Article from Chicago Eagle, March 23, 1895

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One Million Short

The National Bank of Kansas City capital $1,000,000, did not open for business Monday morning. J. S. Chick, a well-known financier, is the president of the institution. The bank yielded to pressure in the panic of 1893. but straightened its affairs and resumed. Since then business has been poor. The assets are said to be $1,800,000, with liabilities of $1,050,000. The officers of the bank are J. S. Chick, President, and J. Q. Watkins, Jr., Cashier. It is not believed that any other bank will be affected by the failure. The bank did a heavy collecting business throughout Missouri, Kansas, Arkansas, and Indian Territory. The failure was unexpected and the news of the suspension created quite a sensation in financial circles. The bank is the oldest financial institution in the city, having been established by Messrs. J. H. and W. H. Chick before the war. Until the panic of 1893 it was ranked as one of the strongest banks in the West. In July, 1893, it succumbed to a run and temporarily closed its doors. Although the capital was reduced and the stockholders paid in a 50 per cent. assessment in the reorganization, the institution has never recovered from the blow it received at that time, and its suspension now is directly attributed to that suspension. According to the statement of the bank March 5, deposits were $990,559.30.


Article from The Topeka State Journal, April 12, 1895

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John Perry Receiver

WASHINGTON, April 12.-The comptroller of the currency today appointed John Perry of Kansas City as receiver of the National bank of Kansas City, Mo.


Article from The Herald, April 13, 1895

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Receiver of a Bank WASHINGTON, April 12.-The controller of the cureracy today appointed John Perry of Kansas City receiver of the National bank of Kansas City. Mo., which suspended payment on March 16. 1895, and John F. Smith of Fort Worth, Tex., receiver for the City National bank of Fort Worth, which suspended April 4, 1895.


Article from Kansas City Daily Journal, June 27, 1895

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Dividends To-day

John Perry, receiver of the National Bank of Kansas City, returned from Washington yesterday, where he went in the interest of the 25 per cent dividend to be paid to the depositors of the bank at an early day. He authorized the announcement that the bank would begin the payment of the dividend to-day at 9:30 o'clock a. m.