First National Bank (Kansas City, KS)

Episode Information

Episode UID
370601099
Episode Type
Suspension β†’ Closure
Bank Type
national
Bank ID
37060 national
Charter Number
3706
Start Date
July 16, 1891
Location
Kansas City, Kansas (39.114, -94.627)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
adcb1666560408e7

Response Measures

None

Receivership Details

Depositor recovery rate
70.0%
Date receivership started
1891-08-17
Date receivership terminated
1899-05-25
OCC cause of failure
Fraud
Share of assets assessed as good
29.5%
Share of assets assessed as doubtful
30.0%
Share of assets assessed as worthless
40.5%

Events (4)

1. May 17, 1887 Chartered
Source
historical_nic
2. July 16, 1891 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bad investments and shaky assets (involvement with Husted Investment Company) left bank insolvent and unable to meet checks.
Newspaper Excerpt
The First National Bank of Wyandotte, or Kansas City, Kan., suspended business to-day and is in the hands of a bank examiner.
Source
newspapers
3. August 17, 1891 Receivership
Source
historical_nic
4. August 17, 1891 Receivership
Newspaper Excerpt
The controller of the currency today appointed Mr. Wm. T. Atkinson of Hutchinson, Kan., receiver of the First National Bank of Kansas City, Kan.
Source
newspapers

Newspaper Articles (21)

Article from Wheeling Register, July 17, 1891

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Kansas Bank Suspends. KANSAS CITY, Mo., July 16.-The First National Bank of Wyandotte, or Kansas City, Kansas, suspended business to-day and is in the hands of a bank examiner. J. D. Wilson, president of the bank, is very reticent concerning the cause of the failure and the condition of the bank. He does say, however, that assets are $200,000 and liabilities $100,000.


Article from The Indianapolis Journal, July 17, 1891

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Business Embarrassments. KANSAS CITY, Mo., July 16.-The First National Bank of Wyandotte, or Kansas City, Kan., suspended business to-day and is in the hands of a bank examiner. I. D. Wilson, president of the bank, is very reticent concerning the cause of the failure and the condition of the bank. He does saΓ½, however, that the assets are $200,000, and the liabilities $100,000. It is generally believed that the liabilities are considerably over $100,000, Δ±nasmuch as the city of Kansas City, Kan., had on deposit in the bank about $60,000. The bank is capitalized for $100,000. The First National Bank, of Kansas City, Mo., is in no way involved in the failure. TRINIDAD, Col., July 16.-Great surprise was created here yesterday by the assignment of W. E. Holett & Co. in favor of their creditors. This firm was one of the largest and oldest hardware and agricultural-implement-dealers in southern Colorado. Estimates of the liabilities are $50,000 and assets not over $30,000. The assignment is due to the enormous amount of outstanding bills which the firm was unable to collect and the constant demand for money by the Eastern creditors. ATCHISON, Kan., July 16.-W. R. Smith, attorney for George W. Howell, of the firm of Howell Bros., the lumber company which failed yesterday. has made a statement concerning his client's affairs. The assets of all the Howell concerns are placed at $3,000,000. No estimate of the total liabilities can be had here, but they are placed at nearly $1,000,000.


Article from Fort Worth Gazette, July 17, 1891

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Bank Failure at Wyandotte, Kan. KANSAS CITY, Mo., July 16.-The First national bank of Wyandotte or Kansas City, Kan., suspended business to-day and is in the hands of a bank examiner. I D. Wilson, president of the bank, is very reticent concerning the cause of the failure and the condition of the bank. He does say, however, that the assets are $200,000, and the liabilitles $100,000.


Article from The Sun, July 17, 1891

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A KANSAS BANK SUSPENDS. The First National Bank of Wyandotte Involved in Bad Investments. KANSAS CITY. July 16.-The First National Bank of Wyandotte. or Kansas City. Kan.. suspended business to-day and is in the hands of a bank examiner. J. D. Wilson. President of the bank. is very reticent concerning the cause of the failure and the condition of the bank. He does say. however. that the assets are $200,000 and liabilities $100,000. Much of the assets. which were supposed to be giltedged. are of such a nature. he sars. as to prevent rapid realization upon them. Last fall the bank became involved in the investments of the Husted Investment Companv and was in a very shaky condition. The institution at that time consolidated with the Exchange National Bank. and it was believed had tided over its difficulties. It is generally believed the liabilities are considerably over $100,000. inasmuch as the city of Kansas City. Kan., had on deposit in the bank about $60,000. The bank is capitalized for $100,000. The First National Bank of Kansas City, Mo., is in no way involved in the failure.


Article from The Helena Independent, July 18, 1891

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Shut up a Bank. KANSAS CITY, July 16.-The First National bank, of Wyandotte, or Kansas City, Kan., suspended to-day and is in the hands of a bank examiner. President Wilson is very reticont concerning the cause of failuro and the condition of the bank. He says, however, that the assets are $200,000 and the liabilities are $100,000. Much of the assets which were supposed to be gilt edged, are of such nature, he says, as to prevent rapid realization.


Article from Daily Tobacco Leaf-Chronicle, July 18, 1891

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NEWS IN BRIEF. A Condensation of Interesting Items on Various Subjects. The First National bank, of Wyandotte, Kan., has failed. A Lake Shore train killed Tabor Wood, aged 92, at Oberlin, O. George Gould says that his father, Jay Gould, is not sick, as reported. The First National bank of Kansas City, Kan., is in the hands of a receiver. Said that President Harrison may go to Bar Harbor to see Secretary Blaine. Henry Menke's little son fell under a wagon at St. John's and was killed. John Blakely, the veteran boat-builder, died Thursday at Cambridge, Mass. Brakeman Wilbur Kistler was crushed to death by an engine at Wabash, Ind. Mrs. Catherine Burkley fell from a cherry tree near Youngstown, O., and was killed. Dr. George Perin, veteran of 1812; died Thursday at Cynthiana, Ky., aged ninetyseven. The international medical congress says Turkish baths are the best cure for drunkenness. William Denny wound up a week's spree at Shelbyville, Ind., with a dose of rat poison. Mrs. Middleton, of Pisgah, O., came to life just as the undertaker was about to lay her out. W. H. Harrison, a prominent citizenand banker of Cincinnati, died at Lakewood, N. Y., from paralysis. A threshing machine boiler exploded near Chaifant, O., killing Abraham Kinworthy and Oscar Blee. W. S. Cappellar, of the Mansfied (O.) News, was elected president of the National Editorial association. Near Xenia, O., Rudolph Hitz, a despondent German, deliberately stepped in front of a train and was killed. Mother Stewart, the temperance advo cate, has returned to Springfield, O., after receiving great honors in Europe. The story that an English syndicate is to control America's glucose manufactories is denied upon reputable authority. Only a small amount of valuables were obtained by the man who robbed the Texarkana,' Ark., train Wednesday night. Rev. Father Jerome Kearney, of St. Bridges Roman Catholic church, Pittsburg, died of an affection of the throat. He was 61. Charles E. Jacks, of Cincinnati, has been chosen supreme corresponding engineer of the American Order of Steam Engineers. The international medical congress, at Prohibition park, Port Richmond, Staten Island, is discussing the best way to cure drunkards. At Philadelphia John Reilly, 19, who brutally assaulted Irene Sisserton. 13, was sentenced to fifteen years, and to pay a fine of $1,000. Natural gas explosion in the Portland, (Ind.) mills made the most of its hardened employes think of religion. They all became Shakers. Walter Alden, a St. Louis traveling man, stopping at the Bates House, Indianapolis, ended the life he wearied of with a dose of morphine. Asa resnlt of a long existing feud between two farmers. J. T. Russell and J. H. Fletcher, the latter was shot and killed near Jewett, Tex. Secretary Foster has awarded a silver life saving medal to Miss Mabel Mason for saving the life of Thomas Jones in the Detroit river on May 11, 1890. Senator Jack Robinson has the inside track on the presidency of the Pennsylvania Republican League clubs which meet at Scranton on Sept. 23. During a thunder storm at Livermore Falls, Me., R. E. Bryant's barn was struck by lightning. Bryant perished in the flames, which destroyed the structure. State Railroad Inspector McInerna finds that the rules of the company made the Ravenna wreck possible, and censures the freight crew for gross negligence. "Buckskin Joe," a street medicine fakir, suicided at Leavenworth, Ind., by hanging. He was a victim of chloral and drink, and recently said the sooner he was dead the better. Hal Hughes, of Seymour, Ind., won't be 80 flickerty in his affections hereafter, if his discarded betrothed, Annie Nailie, succeeds in collecting the $10,000 sheclaims is due on his broken promise. Mrs. Cramer, mother of Jennie Cramer, who was found dead on the New Haven (Conn.) beach ten years ago, and for whose murder the Malley brothers were tried, but not convicted. has suicided with a rope. Her husband did likewise two years ago. Professor E. B. Coy will represent Ohio in the directory of the international educational association. Miss Mary E. Nich-


Article from Telegram-Herald, July 18, 1891

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A Kansas Bank Fails. KANSAS CITY. Mo., July 17.-The First national bank of Wyandotte, or Kansas City, Kan., suspended business Thursday and is in the hands of a bank examiner. J. D. Wilson, president of the bank, is reticent concerning the cause of the failure and the condition of the bank He does say, however, that the assets are $200,000 and the liabilities $100,000.


Article from New-York Tribune, July 21, 1891

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by foreign loan companies on account of the Alien Land law. Mr. Spaulding says the bank is solvent; that there is no occasion for a receiver, and he would not have taken such a step except at the unanimous request of the directors. Depositors and creditors will be fully protected. A movement is on foot to re-organize the bank under the new law. Other banks tendered aid, but the directors decided to take the course they did. No other banks are affected, and little excitement is exhibited over the suspension. Kansas City, Mo., July 20. -The Central Bank of Kansas City, Kan., failed this morning. The failure was due to the failure of the First National Bank, which was taken charge of by the Bank Examiner last Thursday. The liabilities are $35,000, assets $65,000. R. W. Hilliker is the president and cashier of the bank. The bank was organized under the State law.


Article from Middlebury Register, July 24, 1891

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General News. The crop prospects in Russia and India are alarming. Gold at Buenos Ayres is quoted at 287 per cent premium. Cholera is increasing at Mecca, chiefly among the Turkish pilgrims. Senator Morgan of Alabama says he thinks Cleveland cannot secure a renomination. The number of paupers in the United States in 1890 was 73,045, an increase of 1842 in ten years. Nine laborers were killed Friday night by a wreck on the Chicago and Erie railway near Kenton, Ohio. Senator Gorman of Maryland is talked of as a likely candidate for the Democratnomination for the presidency. It is reported that an effort is being made to organize a revolutionary movement in Hayti to depose Hippolyte. The Merchants' national bank of Fort Worth, Tex., has closed its doors, and so has the Central bank of Kansas in Kansas City, Kan. Thirty thousand Confederates participated in the dedication of a monument to Stonewall Jackson at Lexington, Va., Tuesday. Englishmen maintain that the moral and physical condition of Ireland has improved since the funds from America diminished. The startling discovery that several Chinese lepers are running laundries in New York has stirred up the patrons of those institutions. The secretary of the treasury has issued a call on the national banks for nearly four millions of government funds in their possession. The policy holders of the New York Life Insurance company have appointed committee to investigate the charges recently made against President Beers. Dom Pedro, ex-emperor of Brazil, is very ill at Vichy. He recently met with accident, sustaining an injury of one of his feet, which was followed by gangrene. Gen. Benjamin F. Kelley, who raised the first regiment of loyal troops south of Mason and Dixon's line during the war, died at Oakland, Md., Thursday evening. Gen. Clarkson says that Senator Quay has long desired to resign the chairmanship of the Republican national committee, but has been persuaded to retain his position. Orders have been issued from Washingto reduce expenses in the New York custom house to the amount of $86,450 by the dismissal of 75 clerks and laborers and a reduction of salaries. A tornado and hail storm struck some portions of Wisconsin on Thursday afternoon. The hail storm beat down and destroyed quantities of wheat and the wind much damage to buildings. Ex-Queen Natalle of Seryia has brought a suit against ex-King Milan, in the Paris courts, to recover the sum of 3,000,000 francs, being a portion of her personal fortune which her dissolute husband squandered. Assistant Secretary Spaulding of the treasury department has directed that the Chinamen arrested in El Paso, Tex. for unlawfully entering this country by way of Mexico be sent to San Francisco for deportation to China. During a cyclone at West Superior. Wis., Thursday afternoon a number of buildings were blown down, including a hotel in course of construction. Of 40 workmen in the building at least five were killed and others were badly hurt. The city treasurer of Kansas City, Mo., threatens to criminally prosecute the of ficers of the first national bank of Kansas City, Kansas, unless they return to him $30,000 which they accepted on deposit the afternoon before the failure was announced. Fire broke out in the business centre of Lynn, Mass., a little before 10 o'clock Friday night, and for a time the entire business portion of the city seemed in danger of destruction. The flames were. however. confined to narrow limits, and the loss is estimated at about $200,000. The city of Santiago, Chili, has just been visited with the severest fire ever known in South America. the loss being estimated at more than $2,000,000. The British legation was consumed, with all of the archives and personal property of the minister. The fire started in a restaurant. The judicial authorities of the German government have investigated as far as possible the system of putting murderers to death by electricity in vogue in New


Article from The Kinsley Graphic, July 24, 1891

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KANSAS STATE NEWS. Ed Vaughn, a fifteen-year-old son of J. Vaughn, fell into a shaft 105 feet deep at Galena the other afternoon, and was so badly mangled that he only lived about two hours after being taken out The Howell Lumber Co., of Atchison, has failed. The company had connections at Chicago, Omaha, Jeffersonville, Tex., and other places. The assets are reported at $3,000,000. Liabilities not given. The preachers of Topeka recently held a meeting in the interest of prohibition and to adopt measures to suppress the illegal sale of liquor by drug stores, which they aver have taken the places of saloons. Joseph Hecklin, a ten-year-old boy, was killed the other night at a crossing on the Missouri Pacific some distance north of Wichita. The boy and his father were crossing the track with a reaper and were caught by a train. Despite threatening anonymous letters of death in twenty-four hours and many other terrible things unless he refused the office, Thomas J. Irwin took charge of the office of secretary of the board of education of Wichita, and still lives. Laura Bogard attempted to commit suicide at Kansas City, Kan., the other day by letting herself down from the Central avenue bridge into the Kansas river, but was rescued by two men who noticed her actions and watched her. Inhuman treatment by her husband the cause. When the Missouri Pacific railway was built to Arkansas City the city gave the company a bonus of $50,000 in bonds. Since then the city has refused to pay the bonds. The other day suit was begun in the United States court by the holders of the bonds for $50,000 and interest. The doors of the Firt National bank of Kansas City, Kan., were closed the other afternoon at 2:15 o'clock-the hour for clearing. The bank was unable to meet a large check drawn against city deposits and therefore closed. It was thought all liabilities would be paid in full. The trial of Rev. A. H. Tevis, pastor of the Washington Street Methodist church of Kansas City, Kan., resulted in the finding of the defendant guilty, as charged, of falsehood and hypocrisy and his suspension from the ministry. The result was a split in the church, one of the oldest in the state. Dr. Tevis is talking of organizing a new church. L. S. Cook, representing the Phoenix Savings Investment Trust Co., of Kansas City, Mo., was recently arrested at Ossawatomie on the charge of obtaining money under false pretenses. He had obtained advance fees from a number of persons, aggregating several hundred dollars, under pretense of loaning money at six per cent., and the money was never forthcoming. Nelson George, a highly connected young fellow, who used to be deputy postmaster at Wichita, and was more recently head of the registered letter department in the post office at Ogden, Utah, is under arrest charged with embezzling $5,000 from the Ogden office. He appropriated a registered letter containing a large sum of money. The other morning as the Missouri Pacific train from Kansas City started vest to Wichita and stopped at the Misssouri, Kansas & Texas crossing at the city limits of Fort Scott, a freight train on the latter road struck the Missouri Pacific chair car, knocked it off the rear trucks and turned it on its side. The locomotive of the freight train was derailed and badly smashed. Several passengers were injured. A call has been issued by the various heads of reform organizations in Topeka for a co-operative convention in Topeka, August 29 next. It was formulated by Fred. P. Bailey, of Wichita, general manager of the Mutual Protective association, an organization for staying executions under mortgage foreclosure. Among the names signed to the call are those of Senator Peffer, W. F. Rightmire, secretary of the Citizens' Alliance; S. McLallin, editor of the Advocate; J. B. French, secretary of the alliance, and Fred P. Bailey. President Frank McGrath, of the Farmers' Alliance, says that the estimates of Secretary Mohler that the wheat crop of Kansas would be about 54,000,000 bushels are altogether too high. From reports received by him from nearly every county in the state he estimates that, the yield will not exceed 40,000,000 and possibly not more than 35,000,000. The counties which have heretofore produced the largest crop have, according to him, suffered partial failure this year. He believes, however, that the corn crop will be unusnally large. The state supreme court has decided against the petitioners in the case of the three insurance agents who were trying to be released from custody at


Article from The Cape Girardeau Democrat, July 25, 1891

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) WEST AND SOUTH. I THE doors of the Farmers' and : Drovers' bank at Battle Creek. Neb., were closed. THE table-glassware manufacturers of Pennsylvania, Ohio and West Vir) ginia have consolidated. ON the California desert Salten lake continues rising. until now the overflow reaches 2.000 square miles. The lake will be permanent and will change the climate and topography of the surrounding country. THE railway postal clerks met at Cineinnati and formed a national organization with C. A. Guthrie, of Chicago. as president. THE firm of Spooner R. Howell & Co., lumber dealers in Chicago and other western cities, have failed with liabilities of $2,000,000. THE directory of Chicago for 1891 contains over 500,000 names and indicates a total population of 1,250,000. By the death of her uncle, Sir James Baxendale, of England, Mrs. Dr. J. Holloway. of Springfield, O., has fallen heir to $1,000,000. AT Pine Bluff, Ark., Robert Williams was hanged for the murder of Albert Hayes in November, 1890. THE marriage of Miss Nina Van %andt. the so-called widow of the executed anarchist, August Spies, to Stefano S. Malato, a young Italian journalist, took place in Chicago. N. II. VAN SICKLEN. of Chicago. made 25 miles in 1 hour. 25 minutes and 11 seconds in a bicycle race at Detroit, Mich. AT West Superior, Wis., during a windstorm a new building was blown down and five persons were killed and some twenty others injured. AT St. Mary's, O., the chain works were struck by lightning, and seventy of the employes were knocked speechless by the shock and some were serieusly stunned. THE failure of the First national bank of Wyandotte, Kan., with liabilities of $100,000 and assets of $200,000 was reported. THE death of Gen. B. F. Kelley, who raised the first regiment of loyal troops south of Mason and Dixon's line during the war of the rebellion, occurred at his home near Oakland. Md. AT Eldon, Ia., an incendiary fire destroyed the business portion of the town. IN the northeastern portion of Puiaski county. Ark., a storm did great damage to the growing crops. THE grain in the path of a storm for a distance of 5 miles was destroyed in the township of Luxemburg, Minn. NEAR Fort Collins, Col., a heavy hailstorm greatly damaged grain over a tract 20 miles long and 3 wide. NEAR Glencoe, Minn., Gustav Kuthkee and his two little boys were probably fatally injured by being run over by a mowing machine. THE evangelist. Rev. Sam Small, is to be managing editor of the new Evening Herald of Atlanta, Ga.


Article from Evening Star, July 27, 1891

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AN INSOLVENT BANK.-The controller of the currency today received a report from Bank Examiner Marshall which shows that the First National Bank of Kansas City, Kan., is insolvent. A receiver will be appointed immediately.


Article from The Wichita Daily Eagle, July 28, 1891

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FAILURES. W ASHINGTON, July - -The comptroller of the currency said today that it would be found necessary to place the First National bank of Kansas City, Kan., in the hands of a receiver. SAN FRANCISCO, July 27.-A run began upon the People's Savings bank today and several thousand dollars were paid to depositors. The bank commissioners have begun an investigation of the bank's affairs. The bank officers state that the institution is perfectly solvent. ATCHISON, Kau., July 27.-H. C. Solomon, agent of the First National bank of Chicago, has completed the work of invoicing the Howell, Jewett & Co. lumber yard in this city. The yard, including real estate and material on hand invoices $108,764.95. The real estate is valued at $25,000. The outstanding accounts will aggregate $25,000.


Article from Evening Journal, July 28, 1891

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THE NEWS IN BRIEF. Theodore D. Lorich, of Jersey City, was drowned at Sharon, Mass. The anti-pool selling law at St. Louis has been declared cunconstitutional. Captain William W. Bair, of Clarion, Pa., has been appointed president judge of Clarion county, to succeed the late Theophilus Wilson. Eighty motor men and conductors of the Newark (N.J.) Passenger Railway company have struck for a reduction of hours and an increase of wages. The Massachusetts Democratic state convention will be held on Tuesday, Sept. 29, at Worcester. The First National Bank of Kansas City Kan., is insolvent. A receiver will be appointed. Ex-Governor Paul Dillingham, of Vermont, died July 27. He was a member of congress in 1844 and governor in 1865. E. H. Morris, of the Republican state central committee of Illinois, has been offered the position of minister to Liberia by the president. Mrs. Samuels, the mother of Jesse James, the outlaw, has received an offer to exhibit the James log house near Kearny, Mo., at the World's fair. The lobster factories at Bay of Islands, N. F., with the exception of those operated by the French, have been closed by the commander of the British ship Pelican. A conscience stricken unfortunate has sent thirty-eight one dollar lottery tickets, none of which drew a prize, to the dead letter office, with the comment that the lottery is a humbug. Treasury officials are said to be greatly worried over the letter written by Mr. Owen, superintendent of immigration, in which he said tin plate workers might be brought into this country in spite of the contract labor law.


Article from New-York Tribune, July 28, 1891

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A KANSAS CITY BANK IN TROUBLE. Washington, July 27.-The Controller of the Currency said to-day that it would probably be found necessary to place the First National Bank of Kansas City, Kan., in the hand of a receiver.


Article from Evening Star, August 17, 1891

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KANSAS CITY BANK RECEIVER.- - The controller of the currency today appointed Mr. Wm. T Atkinson of Hutchinson, Kan., receiver of the First National Bank of Kansas City, Kan.


Article from Wheeling Register, August 19, 1891

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A Receiver Appointed. WASHINGTON, August 17.-The Controller of the Currency to-day appointed Mr. Wm. T. Atkinson, of Hutchinson, Kan., receiver of the First National Bank of Kansas City, Kan.


Article from St. Paul Daily Globe, September 18, 1891

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Its Assets Small. KANSAS CITY, Sept. 17.-The appraisers appointed by Judge Alder, of the district court of Wyandotte county, to ascertain the value of the assets of the suspended First National Bank of Kansas City, filed their report to-day. Assets appraised at $1,680. The liabilities of the bank are $34,000.


Article from Telegram-Herald, September 19, 1891

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SHORT SPECIALS. Italy has recognized the new government of Chili. Muskegon, Mich, is to have s new $85,000 courthouse. The efforts to reconcile Emperor William to Prince Bismarck have failed. An explosion of gasoline in a store at Eldon, la., started a fire that did $10.000 damage Wednesday night. Burglars entered the residence of Charles Louderbeck, in Marengo, IIL, Wednesday night and secured $500. At Dunbar, III., Thursday evening Michael Schlester quarreled with his wife and shot her dead. He was arrested. The twenty-eighth anniversary of the battle of Antietam was celebrated by Wisconsin veterans in Madison Thursday. At Peoria, III, Thursday J. Newman was shot and mortally wounded by Joseph Githens in a quarrel over a whisky bill. It is found that the assets of the suspended First national bank of Kansas City, Kan., are $1,680 and the liabilities $34,000. Two farmers living near Warsaw, Ind., have unearthed two huge teeth twenty-four inches in length and evidently the remains of a mastodon. Gen. Richard J. Oglesby, of Illinois, was elected president of the National Memorial Hall association, Grand Army of the Republic, Thursday at Decatur. Dennis Sullivan was lodged in jail at Rico, Col., Thursday night, for being drunk. He set fire to the building, which was destroyed, while he was burned to a crisp. George W. Updike, of the Grier Commission Company of St. Louis, filed a suit Thursday charging J. B. Kelor, a partner, with having appropriated $40,000 of the firm's money.


Article from The Vinita Daily Chieftain, December 7, 1907

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CRISIS PASSED Kansas City, Mo', Dec. 6. .-There were no evidence of a run on any local banks in the early hours today. Bank officials generally gave it as their opinion that the crisis resulting from the failure yesterday of the National Bank of Commerce was over, and that normal condition would soon exist again. Many depositors were reassure by declarations of officials of that institution that it would not only pay its depositors in full, but that the stockholders also would loose nothing. One of the three small banks that closed yesterday, the First National Bank of A rgentine, Kansas, re-opened for busi ness this morning. The bank has deposits of a quarter of a million of dollars and the cashier says it is in a perfectly sound condition.


Article from The Vinita Weekly Chieftain, December 12, 1907

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CRISIS PASSED Kansas City, Mo: Dec. -There were no evidence of a run on any local banks in the early hours today. Bank officials generally gave H. as their opinion that the crisis resulting from the failure yesterday of the National Bank of Commerce was over, and that normal condition would soon exist again. Many depositors were reassure by declarations of officials of that institution that it would not only pay its depositors in full, but that the stockholders also would loose nothing. One of the three small banks that closed yesterday, the First National Bank of A rgentine, Kansas. re-opened for busi. ness this morning. The bank has deposits of A quarter of I million of dollars and the cashier says It is in a perfectly sound condition.