Kansas City Trust Company - Kansas City, KS

Bank Information

Episode Type: Suspension → Reopening
Bank Type: trust
Start Date: October 28, 1907
Location: Kansas City, Kansas (39.100, -94.579)

Metadata

Model: gpt-5-mini
Short Digest: f7bc05009cdabcfd

Response Measures

None

Description

Article (Omaha Daily Bee, 1907-10-29) reports that the Kansas City Trust Company suspended operations when Kansas City and St. Louis institutions declined to forward cash to southwest banks. No mention of a depositor run or receiver; article describes a suspension due to refusal to ship currency (correspondent funding cutoff). Reopening is not described in this clipping, but the suspension appears to be temporary action tied to the regional cash cutoff during the 1907 liquidity crisis; classified as suspension_reopening as the most likely non-failure temporary suspension.

Events (1)

1. October 28, 1907 Suspension

Cause: Correspondent
Cause Details: Kansas City and St. Louis institutions refused to forward cash to southwest banks, cutting off supply of currency and prompting suspension.
Newspaper Excerpt: SUPPLY OF MONEY WAS CUT OFF Kansas City and St. Louis Institutions Declined to Send Money -Kansas City Trust ComDany Suspends.
Source: newspapers

Newspaper Articles (1)

1. October 29, 1907 Omaha Daily Bee Omaha, NE

Article from Omaha Daily Bee, October 29, 1907

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Article Text

SOUTHWEST SHORT OF CASH Oklahoma Banks Did Not Open Today for This Cause.. SUPPLY OF MONEY WAS CUT OFF Kansas City and St. Louis Institutions Declined to Send Money -Kansas City Trust ComDany Suspends. OKLAHOMA CITY. Okl. Oct. 28.Every bank in Oklahoma City remained closed today. in accordance with orders issued by Acting Territorial Governor Charles Filson. It is understood that the order affects all national banks in Oklahoma and Indian Territory. The action was taken because the banks of Kansas City and St. Louis refused to forward cash to the banks of the southwest. It is said that a telephone consultation of many of the bankers of Oklahoma, Indian Territory, Arkansas and Texas took place during the early hours this morning and that all decided upon similar action. There has been uneasiness in this city and the bankers say the deposits last week were greater than at any previous week in the month. The closing is for the purpose of protection in case of a run. Since the banks here could not get cash from Kansas City in case of a run, they considered the risk too great. The banks of this city are carrying many of the small banks of the territory. They have arranged to issue clearing house certificates for the present. The banks of the southwest are further embarrassed because of the demand for cash to move the cotton crop. The Governor's Proclamation. The governor's proclamation follows: Whereas, it appears to the undersigned acting governor of the territory of Oklahoma that all of the leading cities of the United States through their clearing house associations have entered into a agreement to protect themselves against conditions which they are apparently unable to control and by such concerted action are r6fusing to ship currency to country banks, which deposits with them or to honor the bills of lading drawn upon the banks of such, or to pay checks of customers over the country, and, Whereas, such action makes it impossible for the banks of Oklahoma to meet the immediate demands upon them for currency to pay for the cotton and other prodgets of the territory, and, Whereas our banks appear to be in a solvent condition. Therefore, be it ordained that a legal holiday extending from October 28, six days, to November 2, be proclaimed. CHARLES FILSON, (Signed) Acting Governor.