6414. Abilene Bank (Abilene, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
October 28, 1889
Location
Abilene, Kansas (38.917, -97.214)

Metadata

Model
gpt-5-mini
Short Digest
f4b64032

Response Measures

None

Description

Multiple contemporaneous newspaper reports (Oct 28–31, 1889) report the Abilene Bank suspended Oct 28/29, 1889 with liabilities ~$400,000 and claimed assets $600,000. Papers describe depreciation after the 1884 boom dragging the bank down (bank-specific adverse conditions). On Nov 1 Lebold & Fisher made an assignment to Attorney Mead and locked the bank's doors, indicating a permanent closure/receivership. While depositors besieged the bank demanding settlement, reporting does not describe a classic isolated run triggered by rumor; the suspension appears driven by adverse balance-sheet conditions and forced assignment. Classified as suspension_closure.

Events (3)

1. October 28, 1889 Other
Newspaper Excerpt
The bank was besleged by depositors who demand settlement of their claims. ... business is practically paralized.
Source
newspapers
2. October 28, 1889 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Depreciation following the 1884 land/boom reduced asset values; liabilities reported ~$400,000 versus claimed assets $600,000; bank unable to meet depositor demands leading to suspension.
Newspaper Excerpt
The Abilene Bank, owned by Mayor C. H. Lebold and Col. J. N. Fisher suspended this morning.
Source
newspapers
3. November 1, 1889 Receivership
Newspaper Excerpt
Lebold & Fisher made an assignment late yesterday afternoon to Attorney Mead and locked the Abilene Bank's doors against all comers.
Source
newspapers

Newspaper Articles (12)

Article from The Portland Daily Press, October 29, 1889

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ABILENE BANK IN TROUBLE Beslegediby Depositors who Demand Settlement of Their Claims. ABILENE, Kas., October 28.-The Abilene Bank, owned by Mayor C. H. Lebold and Col. J. N. Fisher suspended this morning. It was considered the strongest financial institution in Central Kansas. Its deposits amount to $200,000, "principally local. Rediscounts and individual loans swell the liabilities to $400,000. The firm claim to own $600,000 worth of real estate and notes, and say they will pay in full if given time to realize. The depreciation that followed the boom of 1884 steadily dragged them down. The bank was besleged by depositors who demand a settlement. A number of business houses suffer. The business is practically paralized.


Article from Evening Journal, October 29, 1889

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The Abilene Bank Suspends. ST. LOUIS, Oct. 29.-A special from Abilene, Kan., says that the Abilene bank, owned by Mayor C. H. Leobold and Col. J. M. Fisher, has suspended, creating great excitement, as it has been considered the strongest financial institution in central Kansas, The deposits amount to $200,000, principally local. Discounts and individual loans swell the liabilities to $400,000. The firm claims to own $600,000 worth of real estate and notes, and say they will pay in full if given time to realize.


Article from The Cheyenne Daily Leader, October 29, 1889

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Article Text

Bank Suspension. ABILENE, Kans., Oct. 28.-The Abilene bank suspended this morning; liabilities $400,000. It is claimed the assets are $600,000. The depreciation which followed the boom of 1874 has steadily dragged the bank down. Busi ness is practically paralyzed.


Article from The Great Falls Leader, October 29, 1889

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Has Suspended. ABILENE, Kas., Oct. 28.-The Abilene bank suspended to-day. Liabilities, $400,000, assets (claimed) $600,000. The depression which followed the boom of 1884 steadily dragged the bank down. Business is practically paralyzed.


Article from Wheeling Register, October 29, 1889

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A Big Kansas Bank Fails. ST. LOUIS, October 28.-A special to the Post-Dispatch from Abilene, KADSAP, saye: The Abilene Bank, owned by Mayor C. H. Lebold and Col. J. M. Fisher, suspended this morning, creating great exeitement, 88 it has been considered the Brongest financial institution in Central Kansas.


Article from Sacramento Daily Record-Union, October 29, 1889

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ELECTRIC FLASHES. Condensed Telegraphic Dispatches From All Parts of the World. A special from Oneonta, Blount county, says that Rube Burrows the outlaw, killed another officer yesterday morning. He has driven the detectives into a cave and is standing guard at its mouth. Thomas J. Kelly, the friend of John L. Sullivan, who on Saturday cut the throat of Thomss Keefe, alias Shea, in a Boston barber shop, waived examination to-day and was held in $25,000 bail. Keefe is dying. A motion was made in the United States Supreme Court yesterday to advance the case of Sheriff Cunningham of Stockton, against Deputy Marshai Neagle, the slayer of Terry. The motion will be decided later. The Abilene (Kansas) Bank suspended yesterday morning. The liabilities are $400,000. It is claimed that the assets are $600,000. The depreciation which followed the boom of 1884, steadily dragged the bank down. Business is practically paralyzed. The Philadelphia police are still anxiously awaiting the arrival of the picture of the supposed Tascott in Chicago. From a further examination of the scars they are convinced that he is Tascott. A man who knew 1 ascott when a boy says the prisoner looks very much like him. It is said that the Union Pacific-Northwestern alliance may basten the consummation of a greater railroad alliance between the Chicago, Burlington and Quincy and the Chicago, Burlington and Northern and Manitoba, west of Chicago, with the Pennsylvania railroad system, east of Chicago. James R. Gilmore, the "Edmund Kirke" of literature, has published the story of the attempt to defeat the nomination of Lincoln in 1864, which he said was participated in by Horace Greeley and nearly all the prominent leaders of the Republican party. The candidate they desired was General Rosecrans, but the latter refused to run, thus breaking up the job.


Article from Los Angeles Daily Herald, October 29, 1889

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A Bank Dragged Down. ABILENE, Kas., October 27.-The Abilene Bank suspended this morning. Its liabilities are $400,000. It is claimed that its assets are $600,000. The depreciation which followed the boom of 1884 steadily dragged the bank down. Business is practically paralyzed.


Article from The Silver State, October 30, 1889

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A Kansas Bank Suspends. ABILENE, Kan., Oct. 29.-Abilene Bank, considered the strongest bank in Central Kansas, suspended payment yesterday. The liabilities are over $400,000. The liabilities of the suspended bank are $400,000; claimed assests, $600,000. The depreciation in landed values which followed the boom in 1884 steadily dragged the bank down. Business is practically paralyzed.


Article from Telegram-Herald, October 30, 1889

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FORCED TO OUIT. An Abilene (Kan) Bank Compelled to Suspend IT OWES SOMETHING LIKE $400,000. If Given Time It May Be Able to Pay in Full-Many Merchants and Worklog-Men Caught for Various Sums. TRADE TEMPORABILY PARALYZED. Sr. Louis, Mo., Oct. 29.-A special to the Post-Dispateh from Abilene. Kan., says the Abilene Bank, owned by Mayor C. H. Leobold and Colonel J. M. Fisher, suspended Monday morning, creating great excitement, as it has been considered the strongest financial institution in Central Kansas. The deposits amount to $200,000, principally local. The discounts and individual loans swell the liabilities to $400,000. The firm claims to OWB $600,000 worth of real estate and notes, and say they will pay in full if given time to realize. The depreciation which has followed the boom of 1884 has steadily dragged them down. Anattempt to straighten things out by forming a loan and trust company, with Senator Ingalls and other prominent men as directors, failed, and the bank was compelled to go. Mayer Leobold is now in the East, and the bank is besieged by depositors who demand settlement. A number of business houses are sufferers, and business is practically paralyzed. Many working-men have small deposits, and they are particularly restless. Almost every business house and every family in the city and county is affected, which makes matters worse. Expert accountants are at work on the books, and in a day or two a detailed statement will be prepared. It may show a much worse condition of things than is now expected, for the accounts are badly confused.


Article from Morning Journal and Courier, October 31, 1889

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General State News. AN ENGINE WRECKED. MIDDLETOWN, Oct. 30.-The 6:80 p. m. mixed train from Berlin on the Branch road crashed into the turn table near the round house last night. The engine was wrecked. The accident was due to a misplaced switch. THE ABILENE BANK. A prominent banker of Hartford received a telegram from the Abilene (Kansas) bank, in which they say: "Our creditors are not pushing; think everything will come right soon. Have not assigned." Signed, Lebold, Fisher & Co. This seems to indicate that the embarrassment is only temporary. A COMING WEDDING. Cards are out for the wedding of Dr. Pratt of Winsted and Miss Mary Gay, daughter of Hon. Henry Gay, the banker. They are to be married November 7 and sail for Europe on the Etruria soon after. They will stay abroad for a year and Dr. Pratt will devote much of the time to the further study of his profession. SOUND STEAMERS. The steamer City of Boston has gone to New York, where she is to be hauled out en the dry dook and will be newly coppered and receive other repairs. When everything is completed she will take the place of the steamer City of New York, and the latter boat will be hauled off to receive repairs for her winter season. DEATH OF DR. J. V. WILSON. The death of J. V. Wilson, M. D., at Waverly, Mass., at the age of 80 years, is announced this morning. He has been siok for some time, and his Norwich friends and acquaintances will not be surprised to hear of his death. He was a physician of the eclectie school, and has twice resided in this city and practiced medicine. He was of the Universalist faith and frequently preached in the pulpits of that denomination, and was respected for his ability and worth.-Norwich Bulletin. MANY AGED PEOPLE. Mrs. George W. Selleck of Norwalk, in accordance with her usual custom, gave her annual reception and dinner to a number of her aged lady friends at her home on Merwin street on Wednesday evening. The occasion was, as it invariably is, a successful social affair and highly enjoyed. The following were present: Mrs. Sarah Canfield, aged 90 years; Mrs. Catherine McDonald 88, Mrs. Betsy Hubbell 88, Mrs. Lucy Selleck 84, Mrs. Laura Morehouse 81, Mrs. Amy Dana 74, Mrs. Elizabeth Lounsbury 73, Mrs. Margaret Bunting 72, Mrs. Sarah Weber 71, Mrs. Sarah Rockwell 67. Besides these, .Mrs. Dr. Van Alstyne and other invited guests, without regard to age, were present. LOVE. The recent marriage of a young lady of 50, near Norwalk, to an elderly gentleman of 21 summers-and winters-is criticised unfavorably by some thoughtless persons who forget that love is blind, and therefore is not supposed to see just where to place his dart most appropriately in all cases. However, a correspondent of the Gazette makes it all right. He deprecates criticism and claims it was a really sensible occurrence. "The bride," he says, "was sensible in taking to husband a boy young and fresh and tender, and the boy showed excellent judgment in placing himself under the protection of a woman qualified by age and experience with the world, to bring him up to be a good man." This ought to settle it.-Stamford Advocate.


Article from Abilene Weekly Reflector, October 31, 1889

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-The bank failure occupies more attention outside of Abilene than in the city. The Chicago Inter-Ocean gave a special dispatch from here a four inch scare head. -Among the many pleasant happenings of Monday among the A. 0. U. W. was the presentation of a beautiful rosewood gavel to the association by Bro. W. H. Zimmerman, who in an appropriate speech presented it to the association on behalf of Abilene Lodge No. 93. This gavel was manufactured by that enterprising firm, Paul & Jacobs, and presented to Abilene lodge for the occasion. -There is nothing particularly new in connection with the Abilene Bank suspension. Messrs. Lebold & Fisher have been busy all day making settlements with depositors and it Is understood that over one-half the amount of deposit indebtedness has been arranged for. No suits or attachments have beeen filed and the general impression is that satisfactory arrangements will be made with all. -The Kansas Exchange Journal, published by E. F. Chaffee, of Herington, contains an excellent discussion of the farm mortgage question. It says: "We cannot see why if it is good management for a young man in some eastern city to buy a house and lot for a home, to be paid for out of his monthly wages rather than pay rent, it is not equally as good management for a young man in Kansas or any other new country, to buy a farm in the same manner." Mr. Chaffee is making a first-class real estate paper out of the Journal.


Article from The Portland Daily Press, November 2, 1889

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Foreign Notes. It is stated that the disagreement between Prince Murat and Miss Caldwell is only temporary, and that the terms of the marriage contract will probably be satisfactorily arranged. The French government has temporarily deprived 55 priests of their stipends owing to sermons preached by them on the subject of recent elections. Charles Bradlaugh has suffered a relapse. Members of the Parnellite party, who have travelled through Austria, have finished the tour. They collected £20,000 to advance the Irish cause, and will now go to New Zealand. Rev. Dr. O'Reilly, treasurer of the Irish National League in America, has handed to the National League authorities in Ireland £8000 collected in America. The Abilene Bank's Doors Closed. ABILENE, Kan., November 1.-Lebold & Fisher made an assignment late yesterday afternoon to Attorney Mead and locked the Abilene Bank's doors against all comers. Since Monday's suspension a large number of local depositors have been settled with, and it was hoped that all could be satisfied. New England creditors commenced legal proceedings and the assignment was necessary. The remaining liabilities amount to $285,000, with assets which, being in Western lands, will come far from satisfying claims when sold at forced sale.