State Bank - Coffeyville, KS

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: December 1, 1907*
Location: Coffeyville, Kansas (37.037, -95.616)

Metadata

Model: gpt-5-mini
Short Digest: 255623c528e79339

Response Measures

None

Description

Article (1907-12-06) states the Coffeyville State Bank was 'dragged down by the failure of the Bankers' Trust company' and that the bank's president was in Topeka to confer about reopening. No run is mentioned; the piece describes a suspension/closure with efforts to reopen.

Events (1)

1. December 1, 1907* Suspension

Cause: Correspondent
Cause Details: Bank was 'dragged down by the failure of the Bankers' Trust company' (failure of a correspondent/related institution).
Newspaper Excerpt: F. M. Robertson, ... is also president of the Coffeyville State bank, which was dragged down by the failure of the Bankers' Trust company, is in Topeka today, for the purpose of conferring with the bank commissioner and attorney general about reopening the bank.
Source: newspapers

Newspaper Articles (1)

1. December 6, 1907 The Topeka State Journal Topeka, KS

Article from The Topeka State Journal, December 6, 1907

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Article Text

CHANDLER BANK 0. K. Mr. Royce Says Kansas Institutions Will Weather Commerce Failure. It is reported this morning that the so-called "Chandler banks" located in Kansas, did not lose anything in the Bank of Commerce crash. C. Q. Chandler, the chief owner of this string, is a nephew of Dr. Woods, president of the Bank of Commerce, and it is supposed that Chandler's intimate knowledge of the bank's condition enabled him to protect all his Kansas banks by getting out his deposits. It is said that Chandler lost only $1,900 in his whole string of about 30 Kansas banks. Bank Commissioner John Q. Royce is in Kansas City getting a list from the National Bank of Commerce of all the Kansas correspondent banks, and the amount which each had in the Commerce. Deputy Bank Commissioner W. S. Albright said this morning: "There has not been any trouble with any of the Kansas banks as a result of the Commerce failure, and I have strong hopes that they may all pull through. In fact, I feel confident that they will pull through unless they were SO unfortunate as to have everything tied up in the Commerce. If they have other resources to tide themselves over temporarily, they will be all right, for I believe that the Commerce will pay out. That bank certainly made a gallant fight. and when it closed its doors, it had $6,000,000 left in cash and sight exchange. It simply closed to protect the depositors who were standing by it and not asking for their money. The receiver could, if he desired. pay a 33½ per cent dividend at once to the depositors. "Of course there are some Kansas bankers who are worried, but they will be able to protect themselves I think by securing a temporary advance of money from their stockholders. pending the settlement of the Commerce affairs." State Senator F. M. Robertson, one of the unique characters of the last legislature, who is also president of the Coffeyville State bank, which was dragged down by the failure of the Bankers' Trust company, is in Topeka today, for the purpose of conferring with the bank commissioner and attorney general about reopening the bank. The thing which has blocked the bank is the fact that the receiver for the Bankers' Trust holds most of the stock and wants more to let go than the other stockholders are willing to pay.