6024. First National Bank (Medicine Lodge, KS)

View Charter #3253 on SPMC

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
3253
Charter Number
3253
Start Date
January 20, 1891
Location
Medicine Lodge, Kansas (37.281, -98.580)

Metadata

Model
gpt-5-mini
Short Digest
9f66b343be77ad68

Response Measures

Accommodated withdrawals, Full suspension, Books examined

Description

Contemporary articles (Jan 1891) report a multi-day run (peaked about Jan 20), the bank was placed in hands of a government examiner (suspension) on Jan 22, 1891, but newspapers in early February report the bank resumed operations and was running along. Later (1894/1896) the First National's business was acquired/receiver referenced, but the 1891 episode resulted in a suspension followed by resumption.

Events (5)
1. September 24, 1884 Chartered
Source
historical_nic
2. January 20, 1891 Run
Cause
Rumor Or Misinformation
Cause Details
Withdrawals triggered partly by impression that failure of the American National (Kansas City) would affect the local bank and by 'designing parties' circulating false reports about its standing.
Measures
All demands were promptly met until cash on hand was exhausted; officials assured depositors and requested a few days to make arrangements.
Newspaper Excerpt
A run was made yesterday, on the First National bank of this city...There had been a run on the bank for the past four days
Source
newspapers
3. January 22, 1891 Suspension
Cause
Government Action
Cause Details
Bank placed in hands of government examiner; contemporaneous reports say principal cause of suspension was a quarrel among the stockholders.
Newspaper Excerpt
The First National bank was placed in the hands of the Government examiner today.
Source
newspapers
4. February 4, 1891 Reopening
Newspaper Excerpt
The First National Bank is now running along as smoothly as though there had never been any trouble...The bank is in good hands, is in first-class condition, and can pay off every depositor and have money left.
Source
newspapers
5. March 1, 1894 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (13)
1. January 21, 1891 Barbour County Index Medicine Lodge, KS
Article from Barbour County Index, January 21, 1891

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Cook & Palmer give lowest rates on 28 farm and city loans. Born-To the wife of A. D. Dennie, near Sharon, on January 4-a girl. R. M. Sparks shipped two cars of fat cattle to Kansas City last Wednesday. McClearey & Staubus will sell you feed and mill stuff at bottom prices. 29 Hand-painted Porcelain Plaques, something new, just arrived, at 29 Young's. Hon. H. Whitesides, of Hutchinson, Kansas, was in the city during this week on legal business. Hillory Weidner, entered an appearance on our streets, during the week ending-direct from the territory. Toys, pictures, perfumes. workboxes. hand-painted plaques, books, and a thousand holiday presents, Young's. Mrs. C. A. Horr, of Eureka, Kansas, is visiting her brother-in-law, Mr. W. O. Horr, our genial railroad agent, this week. Church service at the court house, every Sunday morning and evening. Sunday school at 10 o'clock a. m. W. A. Cain pastor. Dr. G.J. Southworth is suffering from an acute attack of the chills. Steve Garrison is doing the prescription act during the absence of George. Try a 12-pound sack of Weber's new Graham Flour. Also try his new corn meal. For sale at the mill or at Burnett's store. Any article bought at the mill will be delivered free of charge to 23 any part of town. Alliance Review: "The Cresset has commenced the publication of the second volume of the history of Barber county. We would suggest to the editor that headvise his grand children to have the volumes bound in calfand designated 'Memoirs of L. C. Faris, John Upperman and 'WE.' You naughty, naughty disciple of Antisthenes, to indulge such cynical humor, while a single glance at the vacant columns of the editorless Cresset, should convince you, that it is solely dependent on such farinacious pabulum to fill its mental vacuity at this time. A run was made yesterday, on the First National bank of this city, caused partly by an impression that the failure of the American National bank at Kansas City, Mo., would affect the bank here. and partly by designing parties who sought to injure the institution in this city, by circulating false reports relative to its financial standing. All demands were promptly met until the cash on hand was exhausted, when a temporary suspense was deemed inevitable. Messrs. Blair, Hall and Rouse, head officials, have assured their depositors that all demands, dollar for dollar, upon the bank shall be paid as soon as necessary arrangements can be made, and request their leniency for a few days for that purpose. After diligent inquiry, we have no hesitation in saying that we believe the management

2. January 23, 1891 The Helena Independent Helena, MT
Article from The Helena Independent, January 23, 1891

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Two Failures in One Town. MEDICINE LODGE, Kan., Jan. 22.-Landiford, Youman & Eldred, general merchandise, were taken possession of to-day by the sheriff. Liabilities, $75,000; assets about the same. The First National bank was I laced in the hands of the government examiner to-day. There had been a run on the bank for the past four days, but the principal cause of suspension was a quarrel among the stockholders. Assets, $82,000; liabilities, $50,000.

3. January 23, 1891 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, January 23, 1891

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EASTERN ECKOES. Calixa Lavallee, one of the leading pianists and composers of America, is dead at Boston. William C. Duncan, city salesman for the diamond house of Lewesohn & Co., Maiden Lane, New York, has disappeared with $30,000 worth of diamonds and pearls. At Brockton, Mass., Mrs. Ludwig Anderson gave her three children, aged 5, 4 and 2 years, morphine and took a dose, herself. She is dead, and the children are not expected to live. Jealousy of her busband was the cause. The match between Steinitz and Gunsberg for the chess championship of the world has been decided in favor of Steinitz. The nineteenth game being a draw, left the score Steinitz 6, Gunsberg 4, draw 9, leaving no opportunity for Gunsberg to catch up. Julius Lundell, a young Swedish servant, suicided in the basement of the Huntington mansion, in New York, while an entertainment was in progress upstairs. He had been dissipated of late. Mr. Huntington had the body removed and kept the matter from the knowledge of the guests. At Medicine Lodge, Kans., Standieford, Youman & Eldred, general merchandise, have been taken possession of by the sheriff. Liabilities, $75,000; assets, about the same. The First National bank is in the hands of a government examiner. There had been a run on the bank for four days, but the principal cause of suspension was a quarrel among the stockholders. The assets are $82,000; liabilities, $50,000.

4. January 23, 1891 The Morning Call San Francisco, CA
Article from The Morning Call, January 23, 1891

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FINANCIAL TROUBLES. Business Failure-A Bank in the Hands of the Government Examiner. MEDICINE LODGE (Kans.), Jan. 22.-The store of Standiford, Youman & Eldred, dealers in general merchandise, was taken possession of to-day by the Sheriff. The liabilities are $75,000 and assets about the same. The First National Bank was placed in the hands of the Government Examiner today. There has been a run on the bank for the past four days, but the principal cause of suspension was a quarrel among the stockholders. The assets are $82,000 and liabilities $50,000.

5. January 23, 1891 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, January 23, 1891

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Kansas Failures. MEDICINE LODGE, Kas.. Jan. 22. Stanley, Ford, Youman & Eldredge, general merchandise, were taken possession of today by the sheriff. Liabilitles, $75,000; assets, about the same. The First National Bank was placed in the hands of the Government examiner. There has been a run on the bank for the past four days, but the principal cause of suspension was the quarrel among the stockholders. As. sets, $82,000; liabilities, $50,000.

6. January 23, 1891 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, January 23, 1891

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BAD FOR THE BANKS. Several Stand Long and Heavy Runs, but Some Are Not Strong Enough. OMAHA, Jan. 22.-The run on the South Omaha branch of the Nebraska Savings bank was continued this morning, but as depositors were paid in full confidence was restored and the run ceased. KANSAS CITY, Jan. 22.-The run on the Kansas City Deposit and Savings bank ceased this morning. Since Monday it has paid out $150,000, and $900,000. was prepared to pay the full amount of deposits, The Central bank was absorbed today by the Merchants' National bank, which will pay all claims. The Central bank went out of business because the profit was too small to pay adequate interest on the capital. WASHINGTON CITY, Jan. 22.-[Special.]-It is expected that Comptroller Lacey will appoint a receiver for the Spokane National bank to-morrow. MEDICINE LODGE, Kan., Jan. 22.-The First National bank was placed in the hands of the government examiner today. There has been a run on the bank for the past four days, but the principal cause of the suspension was a quarrel among the stockholders. The assets are $82,000, and the liabilities $50,000. Stanford, Yuman & Eldred, general merchandise, were taken possession of today by the sheriff. Their liabilities are $75,000 and their assets about the same.

7. January 23, 1891 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, January 23, 1891

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The Sheriff Takes Possession. MEDICINE LODGE. Kan. Jan. 22.-Stanley Ford, Youman & Eldred's place, general mer chandise, was taken possession of to-day by the sheriff. Liabilities, $75,000; assests, about the same. The First National bank has been placed in the hands of a government examiner. There has been a run on the bank for the past four days, but the principal cause of suspension was a quarrel among the stockholders. Assets, $82,000; liabilities, $50,000.

8. January 23, 1891 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, January 23, 1891

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BUSINESS TROUBLES. A Kansas General Merchandise Firm fails for $75,000. MEDICINE LODGE, Kan., Jan. 22.-Standiford, Youman & Eldred, general merchandise, was taken possession of to-day by the sheriff on a chattel mortgage in favor of McCord, Nave & Co., of Kansas City, The liabilities are $75,000; assets about the same. The First National bank was placed in the hands of a government examiner to-day. There had been a run on the bank for the past four days, but the principal cause of the suspension was a quarrel among the stockholders. The assets are about $82,000; liabilities, $50,000. The bank will resume. NEW YORK, Jan. 22-The firm of Lowdon & Rutherford, carriage manufacturers, of this city, assigned to-day, with preferences aggregating about $12,000. Debts, $50,000.

9. February 4, 1891 Barbour County Index Medicine Lodge, KS
Article from Barbour County Index, February 4, 1891

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Jas. Deal is not as well this week as usual. Call on Cook & Palmer for farm and city loans. 28 A new floor is being put down in the postoffice building. A new chimney is being placed on the Presbyterian church. Fodder and straw for sale. Drop 37 tf postal card to Eli Benedict, H. L. Shannon, of Carthage, Mo., was here last week. shaking hands with his numerous friends. Preaching at the court-house every Sunday evening. Young people's meetIng just before service. The choir at the court-house rendered some very fine music, last Sunday evening, with Mrs. A. L. Noble at the organ. Hon. Jerry Simpson came home last Sunday, remaining here till yesterday. He will soon go to Washington, to witness the closing of the present congress. Messrs. Frank Holmes, Albert Noble, H. M. Ingraham, J. W. Dobson, L. M. Axline, Clay McGrath and the INDEX scribe all left Topeka on Tuesday night of last week. J.O. Habn, who has been confined at home by serious illness for the past two weeks, is in his office again this week. Ex-Supt. Landis attended to Mr. H's office work during his absence. The Chicaga Daily News has placed us under obligations for a copy of the Daily News Almanac for 1891. It is a book of 370 pages, every line of which is useful information to the politician or editor. If our debating societies would get a few copies of this almanae they would find it a useful companion. The First National Bank is now running along as smoothly as though there had never been any trouble in the institution. The bank is in good hands, IS in first-class condition, and can pay off every depositor and have money left. The little rumpus was an unfortunate affair, but it will not injure the standing of the bank. Saturday of next week will be St. Valentine's day. We have heard it said all our life that on the fourteenth day of February, geese and ducks mated. They will go in flocks up till that time. and on that day they will pair off, without regard to the weather. We hope some of our friends who have a chance to watch them, will do so, and report to the INDEX. J. B. Winters and family, of Illinois, have taken up their abode in Medicine Lodge, and are now occupying the house recently vacated by Mr. Dresser. in the north part of town. Mr. Winters brought out a car load of fine horses. It will be remembered that he and his son came out here two years ago, and brought two or three car loads of draft stallions, which they sold or traded for land. Miss Tina Bell, of near Elm Mills, who was caught out in the blizzard on the night of December 31st, and was not found till Friday morning, January 2nd, is improving slowly. It is thought she will loose some of her toe nails, but that no permanent injury will result. When her older brother crawled out from under the snow, he fell almost across the shoulders of his sister. There was a heavy layer of snow between them but his weightresting on her for twenty-four hours made her stoop-shouldered, and she has not yet been able to straighten her body for more than a few minutes at a time. The younger brother was smothered by the fine snow. Miss Bell stood in water nearly three feet deep, for about thirty-six hours, and the water probably prevented her limbs from being frozen. Another case of suffering caused by foolish handling of a pistol, is reported to us. There is a family named Brown, living near Elm Mills, and the children had been playing with an old horse pistol. It seems that on Sunday, January 18th, one of the boys about fourteen years of age loaded the pistol and attempted to shoot it off, but it refused to fire. The boy snapped it around all day, frequently pointing it at members of the family On Monday he snanned

10. February 7, 1891 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, February 7, 1891

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The run made on the First National bank of Medicine Lodge on January 20th reacted and turned out to be a boom for the bank. which has more deposits and is running stronger than ever. It became simply a matter of renewed confidence as soon as it was ascertained that it could not be busted.

11. February 18, 1891 Barbour County Index Medicine Lodge, KS
Article from Barbour County Index, February 18, 1891

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District Court. The time of the court was taken up from last Wednesday morning till Saturday afternoon in hearing the a pplication of P. D. Cunningham for a receiver for the First National Bank. Motion not granted. Monday was principally consumed in getting ready for the Jarret trial, and in calling the docket, and setting times for hearing the cases. The suit of P. D. Cunningham against the First National Bank for $10,000 damage was dismissed by the plaintiff without prejudice, and plaintiff given 30 days in which to prepare a case for the supreme court. Tuesday morning the case of the State vs. Starling Jarret was taken up. Jarrett is charged with stealing a pocket-book and some money from Dawson Brown, near Sharon. The jury in the case is as follows: James Fletcher, David Gordon, John Louthan, George Austin, Martin Thompson, Andrew Ott, Luther Drury, G. R. Taylor, F. C. Julian, C. C. Fair, A.J. Trotter, Geo. Scott. This morning the jury returned a verdict of guilty, but recommended him to the mercy of the court on account of his youth. Tuesday afternoon the case of John McMillen was taken up. He is charged with selling liquor in violation of the aw. The case was tried before the tollowing jury: / Prewitt, Wm. Balding, Scott Rubert, J. W. Lee, Chas. Gronemier, J. F. Lucas, Wm. Axtell. E. W. Lyman, L. J. Hodges, J. McCoy, Wm. Marquand, Geo. Brown. The evidence is all in, and as we go to press, Wednesday morning at 11 o'clock, the case is being argued by the attorneys.

12. March 7, 1894 Barbour County Index Medicine Lodge, KS
Article from Barbour County Index, March 7, 1894

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The Banks Consolidate. There was considerable surprise on our streets Thursday morning to find the officials of the Citizens State Bank behind the counters of the First National, with a placard on the outside announcing that the former had purchased the entire business of the latter. It was very much unexpected by the people here and caused no little wonder and amazement. In this consolidation there is formed one of the strongest financial institutions in the state. The last report of the Citizens Bank showed resources and liabilities of $126,729.08 and when the business is doubled by adding that of the First National there are few country banks that can equal it. The officers of the institution are C. Q. Chandler, president; J. W. Berryman, vice president; F. B. Chapin, cashier, J.S. Runyan, assistant cashier. The directors are W. S. Woods, C. Q. Chandler, J. W. Berryman, F. B. Chapin and W. S. Berryman. The names insure the confidence of all our business men. The liquidated bank is the oldest in the county. It has passed through several hands since it was established, the last officers being J. P. Hall president, T. L. Lindley vice president, C. S. Jobes cashier and J. S. Runyan as. sistant cashier. The board of directors were J. P. Hall, W. L. Blair, T. L. Lindley, C.S. Jobes, W. T. Rouse and A. L. Noble. The resources on January 1st were $111,574.01, deposits time and demand $42,615.70 and loans and discounts $63,319.61. The gentlemen who conducted the business were very affable and courteous and made many friends. Mr. Hall will now take up and attend to his farming interests as soon as it demands attention. Mr. Jobes will remain here until the term of school closes, on account of his child. ren. After that he will probably locate nearer his other interests, just where he has not decided as yet. J. S. Runyan and Roy Hall are retained in the bank. It is clear that the depression in business has brought about this change whereby we have but one bank, and that the move was for the best to all parties concerned there is no reason to doubt. And now that the Citizens State Bank has the field to itself we feel sure that no undue advantage will be taken in any respect; but that the customers will meet that same courtesy and considerate treatment which characterized it when there was competition.

13. December 4, 1896 Kansas Agitator Garnett, Greeley, Topeka, KS
Article from Kansas Agitator, December 4, 1896

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# THE BANK OF COMMERCE. The new Bank of Commerce has leased the rooms occupied by the First Natiosal Bank for one year, and the new bank will be ready for business about the 15th inst. The Bank of Commerce is credited with large means We understand that Dr. Woods, of the Kansas City Bank of Commerce, is one of the chief movers in the new enterprise. Mr. Chandler, president of the only bank in Medicine Lodge that was able to withstand the late panic, is president of the new bank. Mr. Masterman, of Elk City, is another man of large means, and will havecharge of the business here, He will make his home here immediaiely, and Mr. Chandler will move here later on. These gentlemen are brothers-in-law, and Mr. Chandler is a nephew of Dr. Woods. The receiver of the First National Bank will, of course, press all debtors of that bank for a settlement. The Bank of Commerce, with the large capital behind it, stands ready (as soon as it opens for business) to accommodate those with money who are indebted to the First National Bank, We sincerely hope that the depression in business caused by the failure of the First National will be more than offset by the new bank.