5961. Western Farm Mortgage Company (Lawrence, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
September 4, 1895
Location
Lawrence, Kansas (38.972, -95.235)

Metadata

Model
gpt-5-mini
Short Digest
6d3cdc47f03f3a7b

Response Measures

None

Description

Contemporary articles state the Western Farm Mortgage Trust Co. failed in the Kansas panic and is in the hands of a receiver. No article describes a depositor run; the bank was placed in receivership and suits against stockholders followed. Dates derived from newspaper publication (receiver noted by 1895-09-04).

Events (3)
1. September 4, 1895 Receivership
Newspaper Excerpt
A suit ... was begun ... against the Western Farm Mortgage Trust company of Lawrence. ... It is in the hands of a receiver.
Source
newspapers
2. September 4, 1895 Suspension
Cause
Macro News
Cause Details
Failed during the Kansas panic some years earlier; insolvency related to the statewide panic led to suspension/closure.
Newspaper Excerpt
This company ... is in the hands of a receiver.
Source
newspapers
3. December 5, 1896 Other
Newspaper Excerpt
The suits are brought by the National Bank of Commerce, of Kansas City, against twenty New York stockholders of the Western Farm Mortgage Trust company, of Lawrence, Kan., which failed in the Kansas panic some years ago.
Source
newspapers

Newspaper Articles (4)
1. September 4, 1895 The Advocate Topeka, KS
Article from The Advocate, September 4, 1895

Click image to open full size in new tab

Article Text

A suit for $41,000 was begun in the federal court Saturday against the Western Farm Mortgage Trust company of Lawrence. The suit is to recover on guaranteed paper and the petition is a very large one there being 150 close written pages of type writing setting forth 218 separate causes of action. This company had a capital of 11/2 million dollars and guaranteed loans in the amount of 9 million dollars. It is in the hands of a receiver. R. D. McCliman, of Goffs, who was a populist member of the house in 1893, was in the city Saturday. His report of political conditions in Nemaha county is very satisfactory. He says that he never saw such good corn 88 there is along the Rock Island line through Jackson and Nemaha. It is all good and seems to be one continuous field all of the way.

2. December 5, 1896 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, December 5, 1896

Click image to open full size in new tab

Article Text

New York, Dec. 4.-The World tomorrow will say: A test case has been brought in each of the several federal courts of New York state to establish the liabilities of non-resident stockholders in Kansas corporations for the debts of such corporations. The law of Kansas provides that stockholders shall be responsible to the amount of their stock, and it remains to be seen if this obligation within the state of Kansas can be made binding upon those resident in other states. The amount involved in the present suits is only $80,000, but the ultimate results of the actions will determine the ownership of many millions in New York state alone, and more or less in all the eastern states. The suits are brought by the National Bank of Commerce, of Kansas City, against twenty New York stockholders of the Western Farm Mortgage Trust company, of Lawrence, Kan., which failed in the Kansas panic some years ago. Among the twenty or thirty persons sued in this vicinity are Louis Hernsheim, for $44,000; and the J. R. Andrienne estate of Poughkeepsie, for $13,000.

3. December 5, 1896 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, December 5, 1896

Click image to open full size in new tab

Article Text

# TO TEST KANSAS LAWS. Cases Brought in Several Federal Courts of New York. New York, Dec. 5. -The World this morning says: A test case has been brought in each of the several federal courts of New York to test the liabilities of non-resident stockholders in Kansas corporations for debts of such corporations. The law of Kansas provides that stockholders shall be responsible to the amount of their stock, and it remains to be seen of this obligation within the state can be made binding upon those resident in other states. The amount involved in the present suits is nearly $80,000, but the ultimate results of the actions will determine the ownership of many millions in New York state alone, and more or less in all the eastern states. The suits are brought by the National Bank of Commerce of Kansas City against 20 New York stockholders of the Western Farm Mortgage Trust company of Lawrence, Kan., which failed in the Kansas panic some years ago. Among the 20 or 30 persons sued in this vicinity are Louis Hernsheim for $44,000, and the J. R. Andrienne estate of Poughkeepsie for $13,000.

4. December 5, 1896 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, December 5, 1896

Click image to open full size in new tab

Article Text

# SUING KANSAS STOCKHOLDERS. Tests in New York as to the Liabilities of Nonresidents. NEW YORK, Dec. 4.-The World tomorrow will say: A test case has been brought in each of the several federal courts of New York state to establish the liabilities of non-resident stockholders in Kansas corporations for the debts of such corporations. The law of Kansas provides that stockholders shall be responsible to the amount of their stock and it remains to be seen if this obligation within the state of Kansas can be made binding upon those resident in other states. The amount involved in the present suits is only $80,000, but the ultimate results of the actions will determine the ownership of many millions in New York state alone and more or less in all the eastern states. The suits are brought by the National Bank of Commerce of Kansas City against twenty New York stockholders of the Western Farm Mortgage Trust company of Lawrence, Kan., which failed in the Kansas panic some years ago. Among the twenty or thirty persons sued in this vicinity are Louis Hernsheim for $44,000 and the J. B. Andrienne estate of Poughkeepsie for $13,000.