5812. Bank of Garnett (Garnett, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 1, 1893*
Location
Garnett, Kansas (38.281, -95.242)

Metadata

Model
gpt-5-mini
Short Digest
e19e93fd66023605

Response Measures

None

Description

Articles report the Bank of Garnett being taken into possession by the Kansas Bank Commissioner on Oct 22, 1895 and a receiver being or to be appointed; assets/liabilities not stated and stockholders expected to lose. The bank previously suspended during the July 1893 panic and resumed in November 1893 (so an earlier suspension→reopening occurred). Later articles (1897) describe receiver troubles and litigation. No article describes a depositor run triggering the 1895 closing; failure appears due to bank-specific insolvency/poor management following the earlier panic. OCR typos corrected (e.g., 'supended' → suspended; dates inferred from publication).

Events (6)

1. July 1, 1893* Suspension
Cause
Macro News
Cause Details
Suspension occurred during the nationwide panic of July 1893; general financial panic forced temporary closure.
Newspaper Excerpt
This bank suspended for six months during the panic of July 1893.
Source
newspapers
2. November 1, 1893* Reopening
Newspaper Excerpt
resumed business in November of the same year.
Source
newspapers
3. October 22, 1895 Receivership
Newspaper Excerpt
the district court ... will be asked to appoint a receiver. Bank Commissioner Breidenthal took possession ... and is now engaged in an examination of its affairs.
Source
newspapers
4. October 22, 1895 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Management struggled to place the bank on a paying basis after the earlier panic; examiner took possession and district court expected to appoint a receiver.
Newspaper Excerpt
Bank Commissioner Breidenthal took possession of the Bank of Garnett yesterday morning, for the benefit of depositors, creditors and stockholders
Source
newspapers
5. October 19, 1897 Other
Newspaper Excerpt
defunct Bank of Garnett, praying that all creditors be enjoined ... the receiver be ordered to bring suit against all stockholders to recover double liability ... This insures the equitable distribution ... protects the small depositors.
Source
newspapers
6. October 29, 1897 Other
Newspaper Excerpt
BANK BOOKS MISSING ! AFFAIRS OF THE RECEIVER OF THE BANK OF GARNETT IN A TANGLE. A New Receiver Will be Named. SEVERAL PARTIES MAY GO TO JAIL.
Source
newspapers

Newspaper Articles (13)

Article from Kansas Agitator, July 26, 1895

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Article Text

-Save money by having your old clothes dyed at the Garnett Laundry. -The Bank of Garnett has brought suit for damages against the county commissioners and the First National Bank. These suits have grown out of the trouble whereby the Bank of Garnett was compelled to close its doors some time ago. -Keep your money at home by patronizing the Garnett Laundry. -Isn't it about time for our city officials to levy another assessment on the joints that are running wide open, and have been since the day the last arrests were made? Wonder if they think the people don't know the difference between "enforcement of the law" and fines that are a license, amounting virtually to protection of the traffic. --Luke Bell has gone to Galveston, Texas, on a visit of several months. -The Garnett Laundry will do your work at living prices.


Article from The Topeka State Journal, October 22, 1895

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Article Text

Bank of Garnett, Kan., Fails. GARNETT, Kan., Oct. 22.-Bank Commissioner Breidenthal took possession of the Bank of Garnett yesterday morning, for the benefit of depositors, creditors and stookholders, and is now engaged in an examination of its affairs. This bank closed down in the panic of July 1893, and resumed business in November of the same year. The management struggled hard to place it on a paying basis, but failed. The district court, which is now in session, will be asked to appoint a receiver. It is believed no one but the stockholders will lose anything.


Article from Omaha Daily Bee, October 22, 1895

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Article Text

Garnett, Kan., Bank in Trouble. GARNETT, Kan., Oct. 21.-Bank Commissioner Breidenthal took possession of the Bank of Garnett this morning for the benefit of its creditors. The assets and liabilities are not stated, though it is claimed the stockholders will be the only losers. This bank supended for six months during the panic of 1893.


Article from The Guthrie Daily Leader, October 23, 1895

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Article Text

of Garnett, Kan., Falls. GARNETT, Kan., Oct. 22.-Bank Commissions Breidenthal took possession of the Bank of Garnett yesterday morning, for the benefit of depositors, creditors and stookholders, and is now engaged in an examination of its affairs. This bank closed down in the panic of July, 1893, and resumed business in November of the same year. The management struggled hard to place it on a paying basis, but failed. The district court, which is now in session. will be asked to appoint a receiver. du is believed no one but the stockholders will lose anything.


Article from Hutchinson Gazette, October 24, 1895

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Article Text

Bank of Garnett, Kan., Fails. GARNETT, Kan., Oct. 22.-Bank Commissioner Breidenthal took possession of the Bank of Garnett yesterday morning, for the benefit of depositors, creditors and stookholders, and is now engaged in an examination of its affairs. This bank closed down in the panic of July, 1893, and resumed business in November of the same year. The management struggled hard to place it on a paying basis, but failed. The district court, which is now in session, will be asked to appoint a receiver. It is believed no one but the stockholders will lose anything.


Article from Abilene Weekly Reflector, October 24, 1895

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Article Text

A SECOND FAILURE. The Bank of Garnett, Kan., Again in the Hands of a Receiver. GARNETT, Kan., Oct. 22.-Bank Commissioner Breidenthal took possession of the Bank of Garnett yesterday morning. for the benefit of depositors, creditors and stockholders, and is now engaged in an examination of its affairs. This bank closed down in the panic of July, 1893, and resumed business in November of the same year. The management struggled hard to place it on a paying basis, but failed. The district court, which is now in session, will be asked to appoint a receiver. It is believed no one but the stockholders will lose anything.


Article from The Goodland Republic, October 25, 1895

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Article Text

Bank of Garnett Closed. GARNETT, Kan., Oct. 22.-Bank Commissioner Breidenthal took possession of the Bank of Garnett for the benefit of its creditors. The assets and liabilities are not stated, though it is claimed the stockholders will be the only losers. This bank suspended for six months during the panic of 1993.


Article from Kansas Agitator, November 1, 1895

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LOCAL HAPPENINGS. -The following is the result of the examination held in Garnett on last Saturday. There were nine applicants, eight of whom were successful, as follows: SECOND GRADE--Mollie Griffith, U. P. Wardrip, Joseph Lamont and Judson Baker. THIRD GRADE-H. B. Wren, Ida Messenger, Florence Marsh and Amy Griffith. L. W. STILWELL, Co. Supt. --Bank Commissioner Breidenthal came down from Topeka, Tuesday, and turned over the Bank of Gar. nett to its receiver, John G. John son. --Ex Congressman Jeff Hudson, of Fredonia, was in town the first of the week, on legal business. --John Powell was up from Lane Tuesday, on business -Monroe's double-pressure cider. mill will run Tuesdays, Wednesdays and Thursdays. One block south of west end of 7th Avenue. tf -- Mayor Wagstaff, Judge Miller, J. McMullen, JakeShall, Will Cloud, John Long, Dr. Smith, Billy Hemp. stead, Chas. Wentz, John Doll, W. H. Stein, Ed Stein and Leper Adams went to Kincaid, Tuesday, to organize a K. of P. lodge. --Fred Trigg went to Hutchinson, Sunday night, where he has accepted the position of city editor of the News, -Mrs. Henry Bogen, of Cincinnati, is visiting !!enry Henson and wife and Ad Clin and wife. --Miss Mollie Henson arrived from Illinois, Tuesday, on a visit to Henry Henson and wife and Ad Cline and wife. -Miss Prudence Stanley return. ed, Saturday, from 4 three-weeks visit with friends at Girard. --Take your work to the Garnett Laundry and keep the money at home. -If you want to buy or sell a farm, call on D. M Moore & Co, Bank of Garnett building.


Article from Phillipsburg Herald, November 7, 1895

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Kansas Notes. Prairie fire did cousiderable damage in and around Brookville, Saline county. The Topeka pension office uses 130,COD envelopes each quarter, or 520,000 annually. C. M. Mitchell has been appointed receiver of the defunct Fort Scott State bank. James Seward of Boston will start a tannery at Atchison if the people will put up $100,000. Baker university has shut off football and is instructing the students in military tactics. Osborne county sends horses and young men to Louisiana to grow up with the country. Texas, Oklahoma and Colorado trade is picking up and the Santa Fe has added more trains. Bank robbers all but secured $30,000 from Mr. Morley's bank at Severance, when they were frightened off. Representative J. G. Johnson of Anderson county, has been appointed receiver of the Bank of Garnett, Kan. Twenty cents a bushel is all that is being offered in Miami county for choice hand-picked winter apples, delivered at Paola. It is said that no judge has served a full term in the Eldorado district since 1881, and ten judges have been on the bench in that time. State Accountant Challenor's report on the books of the Board of Public Works criticises the old board and praises the new. C. O. DeTurk, traveling salesman for the Lehman-Higginson Wholesale Grocery Company of Wichita, has been arrested for the embezzlement of $2,000 belonging to the firm. Horace S. Clark, brother of George W. Clark, Populist member of the Kansas court of appeals, will be a candidate for governor before the Republican state convention of Illinois in 1896. Miss Jessie M. Parker, formerly a pupil of the Hutchinson public school, has been nominated by the Republicans of Douglas county. Colorado, for the office of Superintendent of Public Instruction.


Article from Kansas Agitator, March 5, 1897

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bank failurers, with best business men and nnected with them: as have been a very sepon the people of Ander Kansas. We hear it stated that banks and must be more careful noney to take more and sufficient to make Anderson county is county, and condenher farm products into Lately, sheep have and returned to mareamery industry is also in the country, show that the agriculturforth alarge amount of energy, and is entitled prices. The interest the business man all depends upon of the farmer, and yet that the basis of the inovement in this county closely watched, and securities taken, so loaners and bankers The writer takes ex. the allegations that the were caused by the county industries, and the Bank of Garnett lost filty thousand dollars ealing in Kansas City the stock of said fifty thousand dollars, its charter. The bank i exist up to the panic it called in its loans t farmers amd feeders of to the amount of sevenof cattle and hogs, values causing a loss hundred to five hundred S At the lowest figure on seventy five ca S I on the market oun of $150,000 to the farm of the Ct u try, thus . terating the working indvstry. Shrinkage in, and the Bank of forced to close its same thing may be said National Bank. About resident of the bank, c ontrolled a large porstock of said bank I i chase of Kansas City I up or lost $80,000; or a $5000 more than its and a still further value caused a continof deposits, and it to close its doors on Either of these banks, lucted its business on


Article from The Topeka State Journal, October 19, 1897

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defunct Bank of Garnett, praying that all creditors be enjoined from bringing suit from individual stockholders and that the receiver be ordered to bring suit against all stockholders to recover double liability to be used as assets of the bank for payment of creditors. Judge Riggs granted the injunction and made the order prayed for. This insures the equitable distribution of all liabilities and protects the small depositors.


Article from Kansas Agitator, October 29, 1897

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BANK BOOKS MISSING ! AFFAIRS OF THE RECEIVER OF THE BANK OF GARNETT IN A TANGLE. A New Receiver Will be Named. SEVERAL PARTIES MAY GO TO JAIL. So Says Judge Riggs, Who Declares that Under Proper Management, the Depositors Would Have been Paid in Full, Instead of On ly a Paltry Five Per Cent.


Article from Kansas Agitator, October 29, 1897

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KANSAS AGITATOR, GARNETT, KANSAS THAT BANK OF GARNETT AFFAIR. PEOPLE'S I The special dispatch to the Kansas City Journal (Rep.) which appears on our first page For this week caused a good deal of excitement in J. W. Garnett, among people of all political parties, Fc and the fellows who are trying to force upon JAS. the people a ticket composed of, or backed by, F the (in our opinion) bank-wrecking crew, were H. H jumping sideways all day Monday, and nearly all day Tuesday, endeavoring to make the peoFor Reg ple believe there was nothing whatever in the L. D. telegram. Fred Trigg, the "girl" editor of the For Eagle, who is the Topeka Capital's correR. S. E spondent here, rushed to the telegraph office Fo and sent a dispatch to the Capital, saying DR. R. there was nothing 111 the Journal's relegram; For Commissi that it had been published to defeat the J.J.A Republican ticket; that J. G. Johnson was not removed from the receivership of the bank, but he had resigned, etc. Mr. Champe, the marks that a "certai As the Kansas City Journal is a Republican to elect Herriman paper, and the telegram was sent to that paper give Champe that 11 from Topeka by its regular correspondent, tablish the truth of Freddy must have given his imagination a terTwigg in the Eagle. rible stretch to make it cover that lie. The Eagle dosn't The matter contained in that telegram may so we will not under not have been ALL true, but there is a great referred to. We wil deal of truth in it, as those who have dealt with not make the assertio the bank know. We were of the opinion that ed to pay $1,000 to e Judge Riggs was too shrewd a man to tell the er," and Trigg well public, through an interview, or in any other such assertion. We manner, what he was doing or intended doing, that a Republican (1 as an official. Judges are not in the habit of a gold-bug) boasted doing such things. The fact is, Judge Riggs would be elected con was talking with Bank Commissioner BreidenBrown would spend thal, in the latter's office, and the Journal reown" money in or porter overheard the conversation. He may this boastful gold-bu have colored it up a little and sent it to the help it. We do not Journal. can get $1,000 of ra Judge Riggs did not say he had removed to elect his tool, J Johnson, but he did say he would appoint Geo. the railroad bonds; 1 W. Iler in Johnson's place. Trigg says Johnbuying the tax-pay son resigned. It is no uncommon thing for an different things. B official or receiver to be allowed to resign ingirl items and almar stead of being removed. When it was found itics is too heavy for what extent J. G. Johnson and others with whom he was connected owed the bank, Judge THE fight betwe Riggs told him he was not the man for receiver, Leland goes merrily and it became necessary to appoint another. in the family. Besides, it is of record that Deputy Bank Commissioner Waterman recommended Johnson's BE SURE removal, Any doubting Thomas can see that RIGHT of the nar for himself if he will examine the records. dates, instead of at As to the missing books, we have heard comballot law was chang plaints about this before we read the Journal to your neighbor. telegram. We learn that one merchant here WE are in receip furnished boxes to put the books in. Why Duty, a magazine were they not kept in the vault, where they bethe interest of good longed? Of course, they were produced when forms, municipal, st they saw a probability of going to jail. If is a most excellent there was notning in the Journal dispatch, why accorded a good pati did Judge Riggs come down to Garnett, Tues$1.00 per year. Se day, and appoint Geo. W. Iler to take Johnson's place? THE gang who " In the conversation between Judge Riggs and nett are circulating Bank Commissioner Breidenthal, the latter said Riggs came to Garn that if the affairs of the bank had been proptown denying the K erly managed, the bank would have paid 50 or This is in keeping v 60 per cent. of its debts. It looks evident that circulating Judge little or no effort was ever made to pay the decourt room, trying t positors anything. Everybody knows that, made by the bank-w while John Johnson was the nominal receiver of the bank, John Herriman is the one who VOTER, if our cot pretended to be settling up affairs. It is two refunded, wouldn't years since this bank failed, and only a paltry liable business mai 5 per cent. has been paid. There is no doubt than a man who has that, with the assets of the bank, much more affairs, and was cont could have been paid. Why was it not paid? stitution, as cashier, In less than a year, the receiver of the First of our people have National Bank has paid EIGHTY-FIVE per There would be no cent. John Anderson on tl After the Bank of Garnett started up the second time, thousands of dollars were depositFWEDDY TWIGG, ed in the bank, we are informed. A prominent citizen-a stock man-informs us that he asked Eagle, devoted a go to the AGITATOR an for a small accommodation, and was told that the bank was not loaning a dollar. Where is dently believes that he should tell one so that money? We are aware that there were honorable men lieve it. Even the connected with that bank, who did all in their ers don't believe tha power to have matters properly adjusted, and wants to see a com they promptly paid what they were liable for, there is a chance f (at least we are so informed, and we believe it), knew better, himself and they are not to be blamed for the condition of the bank. and he just lied-tha Now reader do vou want the business affairs