National Bank of Commerce (Kansas City, MO)

View Charter #3760 on SPMC View balance sheet

Episode Information

Episode UID
376001296
Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
37600 national
Charter Number
3760
Start Date
December 5, 1907
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
dbdfd903fdba3fe3

Response Measures

Accommodated withdrawals, Public signal of financial health, Capital injected, Full suspension, Books examined

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

Description

Receiver appointed and later reorganized; reopening set under Comptroller Ridgely's plan.

Events (5)
1. July 25, 1887 Chartered
Source
historical_nic
2. December 5, 1907 Run
Cause
Local Banks
Cause Details
Steady withdrawals over six weeks, many deposits drawn by out-of-town/correspondent and small banks reduced reserves.
Measures
Reduced loans, sold high-grade bonds, drew down cash reserves and sought clearing-house and outside assistance.
Newspaper Excerpt
the bank had paid out $19,000,000 in deposits... after a steady run of six weeks
Source
newspapers
3. December 5, 1907 Suspension
Cause
Government Action
Cause Details
Board posted notice and bank was placed in hands of national bank examiner/receiver by order of the Comptroller of the Currency.
Newspaper Excerpt
This bank is closed by order of the board of directors. It is in the hands of Bradley, the bank examiner, by order of the comptroller of currency.
Source
newspapers
4. March 30, 1908 Reopening
Newspaper Excerpt
The bank will reopen March 30. The bank will start with $2,000,000 of capital and $200,000 surplus... Comptroller Ridgely's plan has been pledged.
Source
newspapers
5. September 24, 1912 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (24)
1. December 5, 1907 Evening Times-Republican Marshalltown, IA
Article from Evening Times-Republican, December 5, 1907

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$16,000.000 BANK CLOSES TS DOORS Kansas City's Largest and Oldest Financial Institution Goes to the Wall THE BANK OF COMMERCE FAILS Been in Weakened Condition Many for Has Some Time Deposits of DeposCountry Banks-Officials Say itors Will Be Paid in Full-Liabilities Amount to $24,277,000. Kansas City, Dec. 5.-The National open its of Commerce failed to the hands Bank this morning and is in The doors the national bank examiner. and the of one of the oldest here, the financial weakened bank largest is institution in city. bank has been in a on condition The since its last statement, stated that 22, when it was house the August institution owed the clearing close to $1,000,000. the financial disturbance When and the celaring house certificates, decided came issue clearing house condition to regarding the bank's in the rumors and the clearing house several concame few days has held banking past with other national means ferences here in connection, and disofficials the bank open surprise were was of keeping esterday muen of the cussed. the request for a responded to expressed comptroller when was statement not or the conby dition of banks Bank of Commerce. the National published their Other local showing banks a healthy Commerce condi| statements, the officials of the would tion, but statement announced that its till today. This further created not be forthcoming distrust in the bank's the condition. House Withholds into Aid. Clearing lasting clearing After hours conferences this morning the could not officials When the house Comaid early the failing National bank. decided Bank they of statement of the in the morning papers in merce that since the been reduced showed appeared deposits had statement $16,953,000. August close the to $35,000,000 to the item of from showed also down The loans and statement discounts had been cut Na the The Commerce are tional $4,000,000. Bank principal of officers W. H. of Winants Dr. W. Woods, president William A. Rule, Its most prominent cashier. vice S. president; some directors of and the and stockholders also presiinclude the city. Woods Trust is Company dent of the has a capital men of Kansas in City, Commerce which of $1,396,000. of $1,000,000, and deposits the deposits statement increased the Trust Company institution is believed nearly Since of its $200,000, to last be in and a sound that Affected. have condition. clearing Other F. Downing, Banks head of expressed the local James house association of the Commerce that his belief would that City not the institution. failure involve deeply and be able any other Kansas local banks would to weather held deposits num- the the other commerce the storm. part of of The small banks in this failure will southwest. have erous upon them What is effect by problematic. local the depositors, There run trouble has been outside no banks caused deposit but withdrawing many their funds The on Commerce by Commerce. and with the States depository was interested deposits were the was the Its United individual in many local bank enter- in prises. the largest of any this mornamong printed decity. Its heavy falling the ing. showing statement, a a big crowd of depositors off in posits bank drew early, evidently More intent or upon less I withdrawing to their money the news that the excitement followed closed. The crowd gradually bank had grew been in size until it stopped traffic Depositors Won't Lose the Say A. Rule, cashier of bank, this morning made William the in following the presence statement of President Woods: directors of the National to Bank at "The Commerce thought it best made the of least close temporarily but conditions We were against lose fight of our us. lives, The depositors will not ier cent.' acquiesced in what the today cashWoods said. The statement issued follows: - Loans and discounts, five Resources real estate, $698,000: cash $12,899,000; redemption fund, $50,000; States bonds per cent exchange United and in sight, other high grade bonds, $10,660,000; surplus total Liabilities-0 $24,277,000. and undivided stock, $17,000. profits, $17, account, 000; circulation $1,640,000; depositors, $16,943,000 000,000; clearing house due certificates, $3,694,000; total $24,277,000. Branch Banks Closed. National Two small branches of the closed their Two also the with doors Bank of this Yards Commerce morning. Bank of Commerce, They were Union Stock of $300.00 and the with small deposits Bank of Commerce, special exdeposits. Avenue There was these no institutions. citement around the banks did not cause At The failure of the other banks. run on any other of institutions deposmost of the usual. its were made as Little Comptroller of Currency Knows comptrolWashington, Dec. 5.-The today issued the ler of the currency

2. December 5, 1907 The Spokane Press Spokane, WA
Article from The Spokane Press, December 5, 1907

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BANK PAID OUT TOO MUCH KANSAS CITY, Dec. 5.-The National Bank of Commerce failed to open its doors this morning. On the door of the institution was a notice posted which stated: "This bank is closed by order of the board of directors. It is in the hands of Bradley, the bank examiner, by order of the comptroller of currency." The bank had allowed the drain on its cash reserve to continue too long and when called upon for a statement was found below the legal limit. The institution had intended to move into a new 16 story building shortly. Vice President Winants states that the bank was murdered by panic gossip, and says there is enough in sight to pay depositors in full.

3. December 5, 1907 The Laramie Republican Laramie, WY
Article from The Laramie Republican, December 5, 1907

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NATIONAL BANK OF COMMERCE FORCED TO SUSPEND BY HEAVY WITHDRAWALS OF ITS CASH ON HAND. Clearing House Could No Longer See Its Way Toward Furnishing Aid and Officers Decided to Place Institution in Hands of Bank Exam. iners-Banks in Southwest Withdrew Holdings and Caused Trouble Kansas City, Mo., Dec. 5.-The National Bank of Commerce of Kansas City, Mo., failed to open this morning and is in the hands of National Examiner James T. Bradley. The bank IS one of the oldest and largest financial institutions in this city, and was closed by order of the board of directors. Owed Clearing House. The bank had been in a weakened condition since its last statement, August 22 lasi, when it owed the clearing house nearly a million dollars. After a conference lasting all night, the clearing house officials could not see their way to aid the bank further. Heavy Withdrawals. The statement of the Bank of Commerce, in response to the last call, showed that since August 22 the deposits had been reduced from $35,000,000 to $16,942.694 and the loans and discounts were cut down $4,000,000. Today's Statement. The statement issuer this morning is as follows: Resources-Loans and discounts, $12,895,656; real estate, $697,542; five per cent redemption fund, $50,000; cash and sight exchange, $5,343,460; United States bonds at par, $1,280,000; other high grade bonds, $4,006,771; total, $24.276,429. Liabilities-Capital stock, $1,000,000; surplus and undivided profits, $1,639,735; circulation account, $1,000, 000; due depositors, $16,942,694; clearing house certificates, $3,694,000; total, $24,276.429. Officers of Bank. Dr. S. W. Woods is president of the Bank of Commerce, W. H. Winants, vice president and William A. Rule, cashier. James F. Downing, president of the clearing house, said: "I consider the failure due to lack of conservatism. None of the other banks here has found it necessary to ask aid from the clearing house, and I consider them perfectly sound. The Bank of Commerce failure will not affect them." Small Bankers Withdrew Funds. The Bank of Commerce held deposits for many of the small banks in the southwest. The withdrawal of their funds caused the trouble. There had been no run by the local depositors, but the publication of the bank's statement this morning caused a big crowd to collect with the intention of withdrawing their money. Depositors Will Not Lose. Cashier Rule said: "We made the fight of our lives, but the conditions were against us. Depositors will not lose a cent" President of Trust Company. Dr. Wood is president also of the Commerce Trust company, which has deposits of $1,395,400, of which sixty per cent is on hand. This company, it is asserted, will not be affected by the bank failure. Will Try to Resume. Bank Examiner Bradley said he would make every effort to get the bank on its feet, but could not say deflnitely when It would re-open.

4. December 5, 1907 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, December 5, 1907

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ly In increasing the price with the assurance that the big dealers will follow your lead." KANSAS CITY FAILURE. Salt Lake Bankers Are Not Surprised By the News. In Salt Lake banking circles this morning, it was stated that the failure of the National Bank of Commerce was not unexpected. While the institution had been a very large one, its deposits amounting to $33,000,000 at one time, It was said that there had been a steady withdrawal from it for many months. The bank was presided over by Dr. Woods, who is very well known throughout the west and his policy of paying 3 per cent interest on bank balances, while other Kansas City bankers only paid 2 per cent, attracted an enormous amount of country deposits. These, however, were the first to order their money shipped them when any signs of trouble arose. The National Bank of Commerce was the Kansas City correspondent of quite a number of Utah banks, but it is said that they all have been steadily drawing away from Kansas City of late months. The action of the Kansas City banks since the recent financial troubles arose has made that city regarded almost as an "outlaw" by other banks of the country. Kansas City banks receiving remittances from their correspondents throughout the United States, simply declined to do more than pass them to the credit of the houses remitting, they would not transfer funds to New York or Chicago, where they could be used, simply returning the answer that eastern exchange was unobtainable. The result has been that credits in Kansas City banks could only be used in Kansas City exchange, and as western merchants do not buy heavily there, there has been a great deal of inconvenience in utilizing the credits. The feeling has grown so tense among western bankers, that Kansas City items are no longer accepted for either credit or collection by leading institutions.

5. December 6, 1907 Arizona Republican Phoenix, AZ
Article from Arizona Republican, December 6, 1907

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THE PRESSURE OF SIX WEEKS Too Much for Kansas City's Second Bank The National Bank of Commerce Compelled toA bandon the Struggle. Kansas City, Dec. 5.-The National Bank of Commerce, the second financial institution of importance in this city, announced its suspension instead of opening this morning, after a steady run of six weeks, during which the bank paid out $19,000,000 in deposits. It reduced its loans $3,500,000. cut down its cash resources $11,750,000 and sold $2,000,000 high grade bonds in the effort to meet the demands upon it. The comptroller of currency has appointed James T. Bradley, national bank examiner. as temporary receiver of the bank. He at once took charge. He has issued no statement as to the bank's condition nor have the officers of th bank. Of the approximately $17,000,000 in deposits tied up in the suspension $12,000,000 belong to out of town banks, and $5,000,000 to Kansas City people. The failure of the bank was followed by the closing of three small affiliated banks, one in Argentine, Kansas, and two in the West Bottoms. President Woods, it is announced, has given his personal endorsement to $37,000,000 collsteral pledged to secure his depositors. Woods is reputed to be a millionaire many times over and has extensive real estate holdings.

6. December 6, 1907 Albuquerque Morning Journal Albuquerque, NM
Article from Albuquerque Morning Journal, December 6, 1907

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BANK FAILURE IN KANSAS CITY COMMERCE NATIONAL FORCED TO SUSPEND Statement of Cashier Declares Depositors Will Lose Nothing; Outside Banks Unaffected by Suspension. (By Morning Journal Special Leared Wire.] Kansas City, Dec. 5.-The National Bank of Commerce, the second financial institution in importance in Kansas City, announced its suspension instead of opening this morning after a steady run of six weeks during which the bank had paid off three and onehalf million dollars. cut down its cash resources eleven and three-fourths million dollars and sold two million dollars of high grade bonds in an effort to meet the demands upon it. The directors were in session until after midnight this morning and again met at 7 o'clock considering plans for continuing business. Chicago and New York had offered substantial assistance, but the officers of the National Bank of Commerce saw no prospect that the steady strain would be checked: even with this assistance, and decided just before the opening hour to post notice of suspension. The comptroller of the currency appointed James T. Bradley, national bank examiner, as temporary receiver of the bank. and he at once took charge. He has issued no statement as to the bank's condition. nor have the officers of the bank. The directors made a statement to the public saying the bank could not stand "slanderous statements made against it,' and saying they did not believe it possible for a depositor to lose a dollor. Of approximately seven million in deposits tied up in the suspension. about two million dollars belongs to out-of-town banks and five millions to Kansas City people. The failure of the National Bank of Commerce was followed by the closing of three small afiliated banks. one in Argentine. Kan.. and two in west bottoms in this city. Reports from Kansas, Oklahoma and Missouri are that no bank in those states will be carried down by the tying up of its reserve in the Na. tional Bank of Commerce. All the banks in Kansas City state and national, published statements of conditions yesterday, showing reserves ranging from 30 to 50 per cent. All the banks in this city were prepared for the suspension. The Commerce Trust company of which Dr. R. S. Woods is president, is an entirely separate concern and has 75 per cent of its deposits on hand. The Commerce Building company. which has nearly completed a magnificent Afteen-story building here. has no connection with any bank and is not involved in the failure President Woods. it is announced. has given his personal endorsement to three million dollars of collateral pledged to secure his depositors. President Woods is reputed to be a millionaire many times over and has valuable real estate holdings. Jackson county has its entire balance of $239000 in the suspended bank. but It is protected by a bond. The local postoffice has $34,000 on deposit, also paid by bond. The city has $450.000 on deposit, also paid by a bond. The National Bank of Commerce is one of the oldest and largest financial institutions in this city and was closed by an order from its board of directors. The bank had been in a weakened condition since its last statement made August 28 last, when it owed the clearing house nearly one million dollars After a conference lasting all night the clearing house officials could not see their way clear to aid the bank further. A statement of the National Bank of Commerce in response to the last call showed that since August 28 last its deposits had been reduced from $35,000,000 to $16,942,692. and its loans and discounts cut down to $4.000.000 A statement issued this morning follows: Resources:

7. December 6, 1907 The Chickasha Daily Express Chickasha, OK
Article from The Chickasha Daily Express, December 6, 1907

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KANSAS CITY BANKS RECOVER FROM SHOCK Of The Failure-No Evidence of Run Today -Argentine Bank Opens-Normal Conditions Again Prevail Kansas City, Mo., Dec. -There was no evidence of a run on any of the local banks in the early hours toMEDICAL day, and bank officials gave it as their opinion that the crises resulting from the failure yesterday of the National Bank of Commerce was OVSOCIETY er and normal conditions would soon exist again. One of the small banks that closed HOLD THEIR ANNUAL ELECTION OF yesterday, the First State Bank of OFFICERS-MEET AGAIN Argentine, reopened for balance this JAN. 3 morning. The bank had deposits of a quarter of a million dollars and the The Grady County Medical Society cashier says it is in a perfectly sound condition. This is confirmed by the held a business meeting this mornstate bank examiner, Mr. Royce, who ing in the offices of Drs Penquite came to Kansas City last night. and Shippey. No program was renThe First State Bank of Argentine dered and the annual election of ofshould not be confused with the the ficers was held, the following being Argentine State bank. The Argentine National bank did not close its chosen: doors and was conducting business President, Dr. J. E. Stinson, rethis morning in the usual way with elected. no indications of a run. Vice president, Dr. W. L. Peters. John Swanger, secretary of state Secretary, Dr. A. M. aLfferty. of Missouri, and State Bank Examiner Cook arrived here today and Treasurer, Dr. M. Coryell. took charge of the Stock Yards Bank Censor for ensuing year, Dr. W. of Commerce and the Union Avenue L. Peters. Bank of Commerce, two small banks, The society adjourned to eet with that closed yesterday. An effort is Drs. Penquite and Shippey on Jan. y to be made to open them at once. 3, 1908. e

8. December 6, 1907 The Laramie Republican Laramie, WY
Article from The Laramie Republican, December 6, 1907

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Closed to Post Books. Cashier Middlekauff says the bank closed temporarily yesterday in order that it might post its books. The limited force prevented doing this yesterday during business hours. Quiet at Kansas City. Kansas City, Mo., Dec. 6.-There was no evidence of a run on any of the lo. cal banks in the early hours today. Bank officers generally gave the opin. ion that the crisis resulting from the failure yesterday of the National Bank of Commerce was over and that normal conditions will soon be restored.

9. December 6, 1907 The Aberdeen Democrat Aberdeen, SD
Article from The Aberdeen Democrat, December 6, 1907

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K. C. BANK SUSPENDS Kansas City, Mo., Dec. 6.-The National Bank of Commerce, the seccond institution in importance in Kansas City, announced its suspension instead of opening yesterday morning after a steady run of six weeks during which the bank has paid out nineteen million dollars of its deposits. The comptroller of the currency has appointed James T. Bradley, national bank examiner as temporary receiver, and he at once took charge. He has issued no statement as to the bank's condition nor have the offcers of the bank. The directors of the bank made the statement to the public saying that the bank could not stand "the slanderous statements made against it's and saying they do not believe it possible for a depositor to lose a dollar.

10. December 6, 1907 New-York Tribune New York, NY
Article from New-York Tribune, December 6, 1907

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THE NEWS THIS MORNING. CONGRESS.-Senate: Mr. Frye was re-elected president pro tem. House: The session lasted only ten minutes, and no business was Both branches adjourned until transacted. Monday. FOREIGN.-Minister Hayashi announced that Japan will limit all emigration to the United Secretary Taft left States and Canada. St. Petersburg for Berlin. where he will spend The Mauretania a few hours this evening. established a new eastbound transatlantic record, beating the Lusitania's best time by 21 Chancellor von Bülow's appeal minutes. to the Reichstag was regarded as meaning the future responsibility of the ministry to the Baron Takahira was formally aphouse. pointed Japanese ambassador to the United Japan's complaints against China's States. plans may result in an indefinite postponement The Anflous of the Manchurian loan. tribesmen won a decisive victory over the troops According to the terms of Mulai Hafig. of the Congo treaty. King Leopold loses control of the crown domain. DOMESTIC-The question of Presidential candidates was discussed by members of the Republican National Committee, which is to James J. Hill meet in Washington to-day. addressed the National Rivers and Harbors Congress in Washington: a committee presented a memorial to Vice-President Fairbanks and Speaker Cannon asking an appropriation of $20,000,000 a year for waterway improvement. A project for a National Council of Commerce was launched at a conference held in President the office of Secretary Straus. Roosevelt's order directing more severe physical tests for army officers was made public. The National Bank of Commerce, of Kansas City, Mo., failed to open its doors and went into the hands of the national bank examiner; the bank. one of the oldest in Kansas City, had withstood a six weeks' run. paying General Funston was out $19,000,000. instructed by the War Department to send to Goldfield, Nev., such troops as might be necessary to preserve order in the mine strike: surprise was expressed at Goldfield, where it was John A. Steele, said there was no disorder. paroled from the Danvers insane asylum last month, went to the State House in Boston to shoot Governor Guild, but. finding the door to his office closed. wounded three labor leaders, one A dispatch from Baltimore anfatally. nounced that Clara Bloodgood. the actress, had taken her life. Secretary Cortelyou in his annual report to Congress. asked for the speedy passage of a remedial currency law. but made no specific recommendations. Monsigneur CITY.-Stocks were strong. McCready, it became known, attacked Jews at a dinner given in his honor on Wednesday The police raided an alleged poolnight. room and found fine books and evidence of The Edison and domestic surroundings. Consolidated companies said they had nothing to conceal from Public Service Investigators and would not hamper an inquiry in any way. The Connecticut, Rear Admiral Evans's flagHorace ship, sailed for Hampton Roads. Havermeyer would succeed his father as head Commisof the Sugar Trust, it was said. sioner Chadwick of the Water Board said it was unlikely that any of its members would resign as a result of the Ashokan dam inquiry. Gen. McCoskry Butt was again a witness before The ordinthe Wainwright Commission. once against noises near hospitals will be enforced. THE WEATHER.-Indications for to-day: Partly cloudy. The temperature yesterday: Highest, 31 degrees; lowest, 19.

11. December 6, 1907 Albuquerque Citizen Albuquerque, NM
Article from Albuquerque Citizen, December 6, 1907

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Normal Conditions in Kansas City. Kansas City, Mo., Dec. 6.-There was no evidence of a run on any of the local banks in the early hours today. The bank officers generally gave cut the opinion that the crisis resulting from the failure yesterday of the National Bank of Commerce was over and that normal conditions will soon be restored.

12. December 7, 1907 The Daily Telegram Clarksburg, WV
Article from The Daily Telegram, December 7, 1907

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NO MORE RUNS On Kansas City Banks Evident and Onlsis is Over. |By Associated Press.] KANSAS CITY. Mo., Dec. 6-There WILS no evidence this morning of a run on any of the local banks. It is believed the orisis resulting from the Inilure of the National Bank of Commerde is over.

13. December 7, 1907 The Daily Morning Journal and Courier New Haven, CT
Article from The Daily Morning Journal and Courier, December 7, 1907

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NO RUNS AT KANSAS CITY. Closing of Bank of Commerce Has Cleared the Air. Kansas City, Mo. Dec. 6.-There was no evidence of a run on any of the local banks early to-day Bank officials generally gave it as their opinion that the crisis résulting from the failure yestery day of the National Bank of Commerce was over, and that normal conditions would soon exist again. They insisted that there was no need for alarm, and that the closing of the bank really cleared the atmosphere and marked the first real step towards a restoration of confidence. Many depositors of the bank were reassured by the declaration of officials of that Institution that It would not only pay depositors in full, but that stockholders also would lost nothing. James T. Bradley, appointed receiver yesterday by the comptroller of the currency, had no statement to make this morning. Mr. Bradley was receiver and wound up the affairs of the First National Bank of Topeka, which failed as a result of the collapse of that enterprise of the late C. J. Devlin, in 1905. His success in managing the Devlin af. fair has inspired many of the larger depositors of the Bank of Commerce with the hope that he will be able to realize the claims of the bank's officials and pay out in full.

14. December 7, 1907 Lewiston Evening Teller Lewiston, ID
Article from Lewiston Evening Teller, December 7, 1907

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E BANK WILL SOON r REOPEN DOORS INSTITUTION IS CITY KANSAS ONLY SUFFERING TEMPORARY SUSPENSION-HAS VALUABLE ASSETS. 7. -Drew KANSAS CITY, Dec. Woods, president of the National Bank of Commerce, asserts that the S bank may resume in a short time. He stated the bank could raise the t federal requirements without trouble and would be able to shop its capital unimpaired and can meet its obligale tions. He insists there is over $1,500,000 in surplus and undivided profits 0 and that the bank can cover all the 1bad paper of the institution. al

15. December 7, 1907 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, December 7, 1907

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NO FLURRY IN KANSAS CITY AS RESULT OF FAILURES By Associated Press. KANSAS CITY, Mo., Dec. 6.-There was no evidence of a run on any of the local banks in the early hours today. Bank officers generally gave it as their opinion that the crisis resulting from the failure yesterday of the National Bank of Commerce is over and normal conditions will soon result. Many depositors of the Commerce bank were assured by the declarations of officials of that institution that it would not only pay depositors in full, but that stockholders also would lose nothing.

16. December 8, 1907 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, December 8, 1907

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DR. WOODS HOPES TO REOPEN President of National Bank of Commerce Hopes to Be Able to Resume Business. KANSAS CITY, Dec. 7.-Dr. W. S. Woods, the president of the National Bank of Commerce, that closed its doors Wednesday owing Its depositors close to $17,000,000, asserts that the bank may resume business within & short time. Dr. Woods early today, after a meeting of directors of the bank that lasted late into the night, said: "It is the sentiment of the board of directors that the bank resume business. And Indeed I do not see much that is in the way of resuming. We can meet all the federal requirements without any trouble. We will be able to show that our capital is unimparted and that we can easily meet all obligations. "We closed with practically 30 cents on the dolar cash and exchange on hands, 5 cepts more on the dollar than the national banking laws require. We are paying out nothing now and the receiver will collect very fast. It is reasonable to conclude that it won't be a great while before he has collected 20 per cent more, giving us 50 cents on the dollar. That would be a good cash reserve, plenty strong enough to open with." Dr. Woods insists that the $1,639,724.57 surplus and undivided profits of the bank will pay several times over what bad paper the institution may have.

17. December 8, 1907 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, December 8, 1907

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BANK LIKELY TO RESUME Failed Kansas City Institution Not in Such Bad Shape, According to the President. Kansas City, Mo., Dec. 7.-Dr. W. S. Woods, president of the National Bank of Commerce, which closed its doors Wednesday owing its depositors close to $17,000,000. asserts that the bank may resume business within a short time. Dr. Woods early today, after a meeting of directors of the bank that lasted late into the night, said: "It is the sentiment of the board of directors that the bank resume business and, indeed, I don't see much that is in the way of resumption. We can meet all the federal requirements without any trouble. We will be able to show that our capital is unimpaired and that we can easily meet all obligations. "We closed with practically 30 cents on the dollar cash and exchange on hand, 5 cents more on the dollar than the national banking laws require. We are paying out nothing now, and the receiver will collect very fast. It is reasonable to conclude that it won't be a great while before he has collected 20 per cent more, giving us 50 cents on the dollar. That would be a good

18. December 19, 1907 The Daily Sentinel Grand Junction, CO
Article from The Daily Sentinel, December 19, 1907

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A STARTLING CHARGE IS MADE A Most Interesting Statement by One of the Oldest Papers of Missouri, Published at the Old Home of . President Woods, of the Kansas City National Bank of Commerce, Regarding Failure of the Big Institution-Did Diabolical Plan Bring About the Ruin? PERHAPS NOTHING PUBLISHED ON THE FAILURE OF THE BIG KANSAS CITY BANK IN THIS PART OF THE COUNTRY HAS GIVEN AS MUCH "INSIDE" LIGHT ON THE MATTER AS THE FOLLOWING STATEMENT FROM THE PARIS, MO., MERCURY, PARIS BEING ONE OF THE STAID OLD TOWNS NOT FAR FROM KANSAS CITY. PRESIDENT WOODS OF THE DEFUNCT BANK, FOR A LONG TIME RESIDED IN PARIS. THE MERCURY IS ONE OF THE OLDEST PAPERS IN AMERICA, HAVING BEEN PUBLISHED CONTINUOUSLY FOR 70 YEARS.

19. December 19, 1907 Semi-Weekly Herald Durango, CO
Article from Semi-Weekly Herald, December 19, 1907

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duced. On every important street corner the collection kettle of the Salvation army be seen. with a uniformed memmay her of the army ringing a bell violent- of to call attention to the purpose New 1. the organization to feed 25,000 of In York's poor on Christmas day. past years these appeals have always brought a ready and liberal response. Now few notice the kettle of the Sal- and vation army, and pennies. nickels the dimes have taken the place of quarters and half-dollars that used to ring merrily in the kettles. The Charitable Organization society. is suffering from a decided falling betoo. in its receipts, although it is off ink called upon to care for nearly twice as many families as last year 250 Last month the society added needy families to its roll of 2,500. and applications for aid are now coming in by the scores. According to Secre of Devine, there are hundreds families tary in the city who. through no fault of their own. are now face to with starvation and cold. and who face be saved only by the prompt ac can tion of the charitable organizations. The present winter is likely to be the hardest on the poor in recent years. its Meanwhile, New York 18 pulling purse-strings tighter. Telluride Dec. 16.-J. F. Wrights man had his left hand badly mangled yesterday by a stamp in the Smuggler his Union mill. He was brought to home here and is doing as well as could be expected. Berlin, Dec. 16.-The second trial of Maximillen Harden, editor of Die Zukanft. commenced today. Count Kuno Von Moitke, who recently gued the editor for defamation of character. but lost his case, is the plaintiff. The new charge against Harden is criminal libel. Some of the best lawyers in Germany have been engaged and the trial promises to be highly exciting. Denver. Dec. 16 -Governor J. L. Routt was insane at the time he transferred the Welton street homestead to Eliza F. Routt in Juy, 1902. This is the ruling of the district court this morning in an action brought against the three trustees appointed under the trust deed by which Mrs. Routt have the property to her daughter. Mrs. Lila Elkins Routt Collins, When an opinion was handed down finding for the children of Governor Routt by his first wife. Ann Routt. The matter will now be appealed to the supreme court. Washington, Dec. 17. Senator Gug. has introduced a public building to Durango genheim cost bill $125.- for a in addition will assist Senator in his bill for a 000 Teller and passing building Has at Grand Juncton. Representative introduced bills for public at and buildings got today Durango Grand $125,000. June tion. each building to cost Andrews today bills buildings at Las Delegate for public Introduced Vegas and Roswell at $125,000 each. has confirmed The senate the district nomination of Captain Leahy as attorney for New Mexico. President Roosevelt has sent to the senate the nomination of J. A. Me Donald to be postmaster at Alamosa and of W. G. Sloan to be postmaster at Amethyst. Goldfield Dec. 17 Mine operators of Goldfield have addressed a com munication to the government commis sions, suggesting that they recommend in their report that federal action be to dissolve the Western Fed of and to aration instituted Miners. criminally of the prosecute leaders and members niners' organization on charges of conspiracy in restraint of trade. The communication. which was quite onethy. also charges that the organization is a treasonable body, that its official emblem is a red flag and that the stars and stripes are never seen either in their halls or in their assem blages. It is suggested that the com missioners report contain the reconi mendation that a permanent post b established at or near Goldfield. Goldfield. Dec. 17.-The first install of considerable number of from other mining to take the of the ment men any places striking districts members of the Western Federation of Miners arrived today at noon from California. Thirty were taken to the camp of the Consolidated mines, where recommodations have been made for 500 men. No demonstration was made Washington Dec. 17. Secretary Cortelyou is confined to his bed with 0 severe attack of grip. He will re main at home for a week. His attack last night was quite severe. His phy Ricians' orders are Imperative Washington. Dec. -George F. Cutts national bank examiner of New York. has been appointed permanent receiver of the failed National Bank of Commerce of Kansas City Ala..: Dec. 17.-A disas trous took Yolande. explosion place in the mine of the Yolande Coal & Coke company and is Impossible to tell at this

20. January 29, 1908 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, January 29, 1908

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BANK TO BE REOPENED. Kansas City, Jan. 28.-The suspended National Bank of Commerce of this city will be reorganized and soon be opened for business, one of "the directors of the bank said tonight. Every dollar necessary to meet the reorganization plan submitted by Comptroller Ridgely has been pledged, and the only remaining question to be decided is who the officers and dfrectors are to be. The bank was formerly the largest in the United States west of St. Louis.

21. February 21, 1908 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, February 21, 1908

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TOT the new ponce or w federal troops at Goldfield. Indictments alleging against perjury former were returned in New York of New Jerrey, Foster and Frank H. governor Voorhees, Combes, into the fol- M. lowing a grand jury inquiry acts of two men while they were the Bankers' Life on what was It was good stated authority to be that W. B. officials company. these of Insurance believed Ridge- has ly, of the currency, to the of decided comptroller accept presidency of the reorganized National Bank Commerce of Kansas City, Mo., which suspended payment during the late financial stringency. Mrs. Martha Anderson was found dead, lying on a cot in her room in Janesville, Wis., with her throat cut from ear to ear. Investigations by the police indicate she was murdered. George H. Norman, who as an offlcer on the gunboat Gloucester during the Spanish-American war took Admiral Cervera of the Spanish fleet off the burning flagship Infanta Maria Teresa, died in Brookline, Mass. former of territory and of the National at of aged 88 Yankton Newton Dakota Yankton Edmunds, paralysis, bank, president governor years. died The 11 laundries in Cincinnati under indictment for organizing a combine to raise prices pleaded guilty and each was fined $50 and costs. The trust also agreed to dissolve. Violation of the postal laws by carrying first-class mail matter was charged against the American Express company in a suit filed in the United States district court at Cincinnati by District Attorney McPherson. Clyde Gant of Belleville, Ill., was convicted of the murder of Henry Dickerman and sentenced to 14 years in the penitentiary. That the fight of the administration against the Standard Oil company was the "only a bluff" was asserted in house of representatives by Mr. Rainey of Illinois, who spoke at length on his bill placing on the free list petroleum, crude or refined, or its products. John E. Venson set a new American record by jumping 116 feet on skis at the Duluth tournament. Sir James Knowles, founder and proprietor of the Nineteenth Century, died in London. The Mississippi senate passed the house statutory prohibition bill. It is announced that there is a prospect of Raisuli, the Moroccan bandit, don. appearing on the variety stage in LonThe Chicago, Cincinnati & Louisville Railroad company was put in the hands of a receiver. Mrs. Clara C. Hoffman, president of the Missouri W. C. T. U., died at Kansas City after a long illness, aged 55 years. Charles Peccorino, said to be the leader of a Black Hand society which caused the murder of a wealthy Italian at Lake Charles, La., was arrested at Hastings, Col. The British steamer Roda, Capt. Burdis, from Huelva for New York with a cargo of iron ore, went ashore during a thick fog abreast of the Jones life-saving station, just below Amityville, Long Island. Capt. E. B. Underwood has been chosen for the command of the cruiser Colorado, vice Capt. Sidney Stanton, of who will be appointed a member the general board of the navy. One boy was stabbed to death and three wounded during a fight among inmates of the correctional institution in Randalls Island, New York. After an exciting debate lasting six hours which developed into a riot on floor of the Japanese house of was representatives, the the financial budget passed by a majority of 102. Col. Andrew Wendell, a member of squad of soldiers which captured Abrathe Wilkes Booth, the assassin of J. Lincoln, and who was present his ham when Booth was shot, died at home in Chicago. Arthur Sullivan, a pioneer of Mont., southern Montana, died at Dillon, aged 90. The Michigan Republican state cen- the committee fixed May 12 as place tral and Grand Rapids as the deledate state convention to elect Repubfor gates-at the large to the national lican convention. H. Cline, a prominent killed lumber by A. shot and instantly of man, Luke was Banner, a wealthy merchant Elk Park, N. C. W. H. Wallace of Kansas SunJudge who has been enforcing the himCity, observance law, announced Democratic day candidate for the Missouri. self as a for governor of in nomination six automobiles contesting started the The New York-to-Paris race Forty-second from Times square, New York, street and Broadway, thou cheered her

22. March 19, 1908 Custer County Republican Broken Bow, NE
Article from Custer County Republican, March 19, 1908

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# ENDORSED FOR COMPTROLLER. A Broken Bow Citizen in Line for Promotion and His Chances are Very Flattering. Ed. Royse, Secretary of the State Banking Board, is being liberally endorsed by the bankers of Nebraska for Comptroller of the Currency. The move was inagurated at a special meeting of the members of the board of associated banks of Lincoln Tuesday night of last week by endorsing Mr. Royse for the position, in case there should be a vacancy. On Thursday following, the bankers of the Omaha Clearing House association gave him a unanimous endorsement for the position. Since then Mr. Royse has received the unsolicted promise of scores of endorsements from prominent bankers and others over the state, as well as the united support of our state delegation in Congress. This spontaneous endorsement of Mr. Royse for this high position is gratifying not only to him but to his many friends in Broken Bow where Mr. Royse still claims his residence and to where he makes his annual visit to cast his ballot at the general election. In commemting on the endorsement, by the bankers of Lincoln the Lincoln Daily Star Says: "The splendid record of the state during the recent financial storm, during which not a single failure was reported and in which all the banks appeared to be in excellent shape, is credited in a measure to Secretary Royse, and his excellent work with the banking board in previous years is taken by the associated banks as sufficient basis for the unanimous endorsement accorded him. "The action of the board follows upon the current rumors in regard to the resignation of Comptroller Ridgely. As receiver for the National Bank of Commerce, of Kansas City, it is said that Mr. Ridgely was offered the presidency of the reorganized institution. This would be an important private position and would lend much prestige to the reorganized bank. No definate indication of Mr. Ridgely's intentions has been reported, but the Lincoln bankers proposed to provide for any contingency."

23. March 28, 1908 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, March 28, 1908

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L. 0. MURRAY IS COMPTROLLER President Ridgeley Resigns His Place and New Man is Selected. WASHINGTON, March 27.-William B. Ridgely, comptroller of the currency, has handed his resignation to President Rooser velt and will become president of the National Bank of Commerce of Kansas City. He will be succeeded as comptroller by Lawrence O. Murray, present assistant secretary of commerce and labor and former deputy comptroller of the currency. Controller Ridgely stated today that all of the conditions imposed by the controller's office for the reorganization of the Bank of Commerce were being complied with. The bank will reopen March 30. The bank will start with $2,000,000 of capital and $200,000 surplus, all clean, liquid and unimpaired, and will have deposits of between $12,000,000 and $13.000,000. over 50 per cent of which will be on, hand in actual cash. George T. Cutts, now the receiver of the bank, will be vice president and Edward Ridgely cashier. The directors will include some of the best-known capitalists and business men of the west, including ex-Governor David R. Francis of St. Louis.

24. May 14, 1912 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, May 14, 1912

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# LEGAL. No. 17,828. No. 18,053. The Holden Land and Live Stock Company, and Howard M. Holden, Appellants, vs. The Inter-State Trading Company, The National Bank of Commerce, of Kansas City, Missouri, and George T. Cutts, Receiver of said Bank, Appellees. The Holden Land and Live Stock Company, and Howard M. Holden, Appellees, VS. The Inter-State Trading Company, The Nauonal Bank of Commerce, of Kansas City, Missouri, and George T. Cutts, Receiver of said Bank, Appellants. Appeal from Shawnee County. (First Division.) MODIFIED. Syllabus. By the Court. Mason, J. 1. An agreement by a mortgagor that he will forfeit all interest in the mortgaged property, if he fails to pay the debt secured by a fixed time, will not be enforced, although made after the execution of the mortgage. 2. Where by the agreement of the mortgagor and mortgagee the note secured, and a deed for the mortgaged property from the mortgagor to the mortgagee, are deposited in escrow, both to be delivered to the mortgagor if he pays his debt by a certain date, otherwise the note to be delivered to him and the deed to the mortgagee, the delivery of the deed in accordance with the agreement does not devest the mortgagor's title. 3. If such a deed is regarded as taking effect at the time of its deposit in escrow, the continued existence of the indebtedness thereafter characterizes it as a mortgage. If it is regarded as taking effect at the end of the designated period it is invalid as an absolute conveyance of title because it is an attempt to procure in advance a release of the equity of redemption. 4. When a deed has been given under such circumstances that it amounts to a mortgage, the fact that the grantor accepts and signs a lease of the property from the grantee does not preclude him from asserting his right to redeem. 5. Where a party asks a court to declare a deed to be in effect a mortgage, he may be required, as a condition to receiving such equitable relief, to forego the advantage of any statutory penalties for the exaction of usury, and submit to a charge of the principal of the debt and legal interest. All the Justices concurring. A true copy Attest: D. A. VALENTINE. [Seal.] Clerk Supreme Court