National Bank of Commerce (Kansas City, MO)

View Charter #3760 on SPMC View balance sheet

Episode Information

Episode UID
376001123
Episode Type
Run Only
Bank Type
national
Bank ID
37600 national
Charter Number
3760
Start Date
July 15, 1893
Location
Kansas City, Missouri (39.100, -94.579)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a029bf2972b8255b

Response Measures

Accommodated withdrawals, Clearinghouse loan, Public signal of financial health, Capital injected, Books examined

Clearinghouse involved: Yes (loan, examination, or other measures)

Events (3)
1. July 25, 1887 Chartered
Source
historical_nic
2. July 15, 1893 Run
Cause
Local Banks
Cause Details
Runs triggered by failure/suspension of other Kansas City banks (National Bank of Kansas City, Northrup Bank) that precipitated withdrawals from local banks.
Measures
Directors pledged their private fortunes and the bank met all demands; reported strong cash reserve.
Newspaper Excerpt
There was a quiet run on the National Bank of Commerce as soon as that concern opened for business this morning.
Source
newspapers
3. September 24, 1912 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (11)
1. July 15, 1893 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, July 15, 1893

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THE PEOPLE SWINDLED By More Busted Banks in Kansas City. KANSAS CITY, Mo., July 15.The North Rup bank of Kansas City, Kansas, of which J.S. Chick, of the National bank of Kansas City, Mo., which failed yesterday, was also president, closed its doors this morning. The examiner, Galbreath, took charge of the suspended Kansas City National bank this morning. There was a quiet run on the National Bank of Commerce, as soon as that concern opened for business this morning. In a statement made public yesterdy, the condition of the bank was shown to be in good condition, 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 prevails, and it is thought the bank will pull through all right, as it ranks with the strongest in the city.

2. July 15, 1893 The Waco Evening News Waco, TX
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.

3. July 16, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, July 16, 1893

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The Daily Record or nanea Failures. LONDON, July 15.-The failure is announced today of Ernest M. E. Fresson, stock and share broker of No. 2 Austin Friars. KANSAS CITY, July 15.-There was a quiet run on the National Bank of Commerce as soon as that concern opened for business this morning. In a statement made yesterday the condition of the bank was shown to be good, and the officers assert they will be able to withstand a long run, which, however, they think will not be necessary. Their statement sh JWS cash on hand $1,141.655, with deposits of $2,977,327, showing more than the 25 per cent reserve law. are talized required at by $2,000,000. They But thought little excite- capi- the ment and it is bank as the bank with the will ranks prevails, pull through strongest. all right, a The directors of the bank held meeting to consider the financial situation yesterday. After very carefully examining into the condition of the bank the members of the directorate signed an agreement individually pledging their entire estates for the security of depositors. There was not a member of who that made him enpaper the board hesitated liable held to for sign by the the the tire amount of deposits bank, SO great was their confidence in its stability. The directorate represents a combined wealth of 82,000,000. KANSAS CITY, July 15.--Bank ExG. W. Galbreath took of the aminer charge suspended which this suspended morning Kansas City National bank, yesterday. CARMI. III., July 15.-The private bank of Hay & Webb, of this place, has made an assignment. The assets are about $215,000 and liabilities about $180,000. At the meeting of the creditors of the insolvent bank held last night, a series of resolutions was adopted, placing the affairs of the bank in the hands of J. R. Webb and a committee of three creditors, Leonard Pyle, James MeClintock and George Clark, to wind up the business. The general opinion is that the creditors will be paid in full. NEW YORK, July 15.-Two hundred thousand ounces of silver were shipped to Europe today on the New York. KANSAS CITY, July 5.-The NorthBanking company closed its doors rup this morning and voluntarily placed itself in charge of State Bank Commissioner Breidenthal. J.S. Chick, president of the National Bank of Kansas City. which suspended yesterday, is also of the Northrup Banking and that fact a on bank this company. president the latter morning. caused run While the of the bank seems fairly officers of the not their assets good, condition to the jeopardize bank by did meetand at 10 The bank has a care ing bank's the doors. run, o'clock surplus closed paid-up the capital of $100,000, with a of Its assets are its liabilities $315,000. It is de$50,000. will $475,000 ultimately believed and be positors and creditors paid in full. The Armourdale (Kan.) bank at No. avenue. susat 3 416 pended Kansas payment Armourdale, o'clock the this hands of afternoon and was placed in Bank Commissioner Breidenthal, of Kansas. The liabilities are $35,000, and the about double consist largely of They assets Seneca, that real amount. estate Kan., security. J. E. Taylor, of was president. The bank had a capital stock of $30,000, and a surplus of $4,500. Thirty days ago it had $55,000 of deposits, but that amount ha4 been reduced one-half. The officers believe the depositors will be paid in full. CINCINNATI, July 15.-Two receivers were appointed for the John Kauffman brewery Saturday morning. The application was made by Mrs. Mary Kauffman, widow of the late John Kauffman, to Judge Wilson. She owned 16,000 shares of the stock. Notes amounting to $60,000 will fall due in August. Owing to the stringency of the money market the company could not realize money to meet them. They claim the assets amount to $600,000, and liabilities to $150,000. Attorney Frank Sheffer and Brewery Manager Emile Schmitt were appoiuted receivers. An effort will be made to effect a settlement, and continue business. CHICAGO, July 15. -The Ladlow Shoe company made an assignment this afternoon. CHICAGO, July 15.-The Boston Foundry company assigned today. Assets $175,000, liabilities $200,000. NEW YORK, July 15.-Will Abeles, manufacturing furrier, made an assignent-today to George Fragner without preference. PEORIA, III., July 15.-The private house of at 1 closed banking its doors William o'clock Oberhouser this afternoon. It was one of the oldest estab-

4. July 16, 1893 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, July 16, 1893

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IN BUSINESS CIRCLES. The Kansas City Failure Causes a RunClosed Dears. KANSAS CITY, July 15.-The Northup bank of Kaneas City, Kansas, of which J. S. Chick, president of the National bank of Kansas City which failed yesterday, is also president, closed its doors this morning. A run began on the National bank of Commerce this morning. The officials say they will be able to stand a long run. which, however, they do not expect. Their statement, made yesterday, shows cash. $1,141,655; deposits, $2,977,327; capital, $2,000,000. It is believed it will pull through all right. It is one of the strongest banks in the city.

5. July 16, 1893 The Herald Los Angeles, CA
Article from The Herald, July 16, 1893

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EMBARRASSED BANKS. Several More Failures at Kansas City and Vicinity. KANSAS CITY, July 15.-The Northrup bank of Kansas city, Kan., of which J. S. Chich, president of the National bank of Kansas City which failed yesterday, is also president, closed its doors this morning. A run was begun on the National bank of Commerce this morning. The officials say it will be able to stand a long run, which, however, they do not expect. Their statement yesterday shows cash, $1,141,655; deposits, $2,977,327; capital, $2,000,000. It is believed it will pull through all right. It is one of the strongest banks in the city. The members of the directory, at a meeting yesterday, individually pledged their private fortunes for the security of depositors. Collectively they represent $2,000,000. The Northrup Banking company closed doors as the result of a run consequent on the closing of the doors of the National bank of Kansas City. It is claimed the bank's position is exceptionally good, but the officers did not care to jeopardize the assets by meeting the run. The bank has a capital of of $100,000; liabilities, $315,000. It is believed the depositors will ultimately be paid in full. The failure of the National bank of Kansas City also precipitated the City. All met every demand promptly and by noon the excitement was practically over. Savings banks were not affected. The bank at Armourdale, Kan., suspended payment this afternoon and was placed in the hands of Bank Commissioner Breidenthal of Kansas. Liabilities, $35,000, and assets about double that amount. The officers believe the depositors will be paid in full. PEORIA, Kan., July 15.-The private banking house of William Oberhauser closed its doors this afternoon. It is one of the oldest institutions in the city and has always wooll regardett ao substantial. Excited crowde are standing round the bank.

6. July 16, 1893 The Sun New York, NY
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 dooré 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.

7. July 16, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, July 16, 1893

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A Great Iron Ore Producing Firm in Trouble. ITS PROPERTY ATTACHED. Runs Are Made in All the Kansas City Banks. The National Bank of Commerce Suffered Most But they Met All Demands Promptly-The Directory Pledged Their Private Fortune3 to Secure Depositors. NEGAUNEE, Mich., July --The Schlesinger syndidate, the largest single iron ore producer in the world, supposed to represent millions of German capital, is in trouble. Their property here has been attached at the instance of the Northwestern railroad and local creditors. The syndicate owes a large sum for labor. A Milwaukee dispatch says: Ferdinand Schlesinger, head of the Schlesinger syndicate, was shown a dispatch from Negaunee, Mich., as to an attachment against the syndicate property by the Northwestern railway. He said he could not understand the action of the road. The syudicate owed the road $20,000 freight charges for hauling ore. Preparations had been made to meet part of this debt and time had been granted on the remainder, hence the action of the road was a complete surprise. He declared the matter would be settled immediately and would not inconvenience the syndicate in the least. Later Schlessinger said that like many others the company was cramped for funds, but could make everything right if given a reasonable time. He believed that when the officials of the Northwestern were seen they would withdraw proceedings. These proceeding affected the Buffalo mines. It is said the banks here hold $1,000,000 or more of the syndicate's paper, fully secured by collateral. It is believed the company will pull through all right.

8. July 16, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, July 16, 1893

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They Sinn Togethe KANSAS CITY, Mo., July 15.-The Northrup bank of Kansas City, Kansas, of which J. S. Chick 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 Cominerce as soon as that concern opened for business this morning. In a statement made yesterday the condition of the bank was shown to be good. and officers assert that they will be able to stand a long run which. however, they think will not be necessary. But little excitement prevails 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 Commeree held a meeting to consider the financial situation to-day. After very carefully examining into the condition of the bank, the member of the directory signed an agreement individually pledging their entire estate for the security 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 deposits held by the bank. so great was their confidence in its ability and stability. The directorate represent a combined wealth of $2,000,000.

9. July 20, 1893 The Russellville Democrat Russellville, AR
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.

10. July 22, 1893 Arizona Weekly Citizen Tucson, AZ
Article from Arizona Weekly Citizen, July 22, 1893

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ANOTHER ACCOUNT. KANSAS CITY, Mo., July 15.-The Northrop Banking company closed its doors as the result of a ruo consequent on the closing of the doors of the National Bank of Kansas City. The bank has a capital stock of $100,000; liabilities, $315,000. The failure of the National Bank of Kansas City also precipita'ed a run on every national bank in the city. All met every demand promptly and by noon the excitement was practically over. Thesavings banks are not affected. PEORIA, Ill., July 15.-The private banking house of Wm. Obenhouse closed its doors thisafternoon. It was one of the oldest institutions in the city. It has always been regarded as unusually. substantial. No statement is made. An excited crowd is standing around the bank. ANOTHER KANSAS CITY BANK. KANSAS CITY, Mo., July 15.-Another bank, of Kansas City, Kansas, of which J. D. Chick, president of the National Bank of Kansas City. which failed yesterday, is also president, closed its doors this morning. A run began on the National bank of Commerce this mornit g. Its officers say they will be able to stand a long run, which, however, they do not expect. Members of the directory, at a meeting yesterday, individually pledged their private fortunes for the security of depositors. Collectively they are worth $200,000. STILLWATER, Minn., July 15.-Shortly after 3 o'clock this afternoon 8 cyclone struck this city, doing much damage to property, besides killing two `persons and injuring a number of others. The dead are William Anez and Sam Simonson. The weather was very sultry before the storm and at about 2:30 the storm cloud was seen approaching from the west and south. They met near the city and immediately after the storm descended and tore a path fifty feet wide through a large portion of the town. Several buildings were completely destroyed and much damage done. KINGMAN, Ariz., July 15.-At a largely attended meeting of citizens of Mohave county, held in the court house last evening, the following resolutions were enthusiastically adopted: Resolved, That we, the people of Mohave county, Arizona, in mass convention assembled, do endorse unequivocally the remarks and declarations of Governor Waite, of Colorado, delivered to the state silver league of Colorado in Denver on July 11th. It is further Resolved, That we are unalterably opposed to the repeal of the Sherman silver purchase act unless substituted by an act for the free and unlimited coinage of silver.

11. September 1, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, September 1, 1893

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MOVING UPWARD. Bottom Has Been Reached and Up Grade Has Begun. KANSAS CITY, Mo., Aug. 31.-Business are of bankers are unanimous in their viske that the low point in the present Inspelal depression has been reached by City, and that the upward movemeat bas begun. Bank presidents estlnate that the banks have gained $2,000,000 is deposits since the runs in July. Cashier C. J. White of the National bank X Commerce said today that the deposits if Ms bank had Increased about $700,000 the the flurry and he knew that deposits windrawn during the runs were Howing Into other banks. Mr. White was in Oleago and the East recently. and he has no elty where financial matters were as May as in Kansas City, Other Kansas who have been in Eastern cities Pain the last thirty days agree with White in saying that the depression been far more general and far more be in them than in Kansas City. dent R. W. Hooker of the MetropoliNational bank said today that a much to feeling is manifest in Kansas City there has been for months. Confidence murning and money is coming back to banks. Vice-President Winants of the and National also said deposits had inused steadily since the lowest point mg the flurry, July 19, was passed.