6430. Lebold, Fisher & Co. (Abilene, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
private
Start Date
October 31, 1889
Location
Abilene, Kansas (38.917, -97.214)

Metadata

Model
gpt-5-mini
Short Digest
5f6c367e

Response Measures

None

Description

Articles describe the bank closing its doors and suspending payments in Oct 1889 (liquidity problems from rediscounts/guaranteed interest) and by Sept 1890 the bank is described as lately assigned (assigned to a receiver). No explicit run is described in the text, so this is a suspension that led to permanent closure/receivership.

Events (3)

1. October 31, 1889 Other
Newspaper Excerpt
Mr. Fisher has been at his desk since early yesterday morning settling with depositors and other creditors. A large proportion of the depositors have been made safe by the turning over to them of real estate and satisfactory collateral security. ... it is thought that inside of fifteen days the bank's doors will be open again.
Source
newspapers
2. October 31, 1889 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Liquidity crisis caused by large rediscounts and guarantees of interest on a large sum; demand for these obligations forced the bank to close.
Newspaper Excerpt
The excitement which was caused by the closing of the doors of the Abilene bank... The liabilities are approximately $400,000 and consist of deposits and rediscounts. The latter were the direct cause of the suspension as the firm had guaranteed the interest on & large sum. The demand for this caused the suspension.
Source
newspapers
3. September 19, 1890 Receivership
Newspaper Excerpt
In an investigation of the affairs of the lately assigned Abilene bank of Lebold, Fisher & Co., before Judge Brown, President C.H. Lebold, of the wrecked bank, testified...
Source
newspapers

Newspaper Articles (2)

Article from Abilene Weekly Reflector, October 31, 1889

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Article Text

SETTLING UP. The Abilene Bank Hard at Work for Its Creditors. The excitement which was caused by the closing of the doors of the Abilene bank has not entirely been allayed but it is much less than yesterday and the feeling is a very hopeful and confident one among the depositors. The card published in last evening's REFLECTOR went far toward quieting public feeling and many who had doubted somewhat the ability of the firm to resume business were made confident of the probability that it would be done soon. Lebold & Fisher are rated in Dun's mercantile reports at $750,000 and their personal liability is not limited there is no reason why they should not be perfectly able to settle in full with every creditor. THE CONDITION OF FINANCES. Expert accountants were at work last night and today on the books. No particular change from the figures given last evening is made. The liabilities are approximately $400,000 and consist of deposits and rediscounts. The latter were the direct cause of the suspension as the firm had guaranteed the interest on & large sum. The demand for this caused the suspension. Messrs. Lebold & Fisher have been liberal and open-handed to a fault in the past in their dealings with their customers and it is to their extreme accommodation that they may attribute their present stringency. Scarcely a business house or prominent individual in the county has not at some time been indebted to them for favors that have tided over difficulties and hard times. SETTLING WITH CREDITORS. Mr. Fisher has been at his desk since early yesterday morning settling with depositors and other creditors. A large proportion of the depositors have been made safe by the turning over to them of real estate and satisfactory collateral security. Several firms had from $5,000 to $15,000 in the bank's vaults, but they have been perfectly satisfied. The Uepositors generally are melined to have implicit confidence in Messrs. Lebo 11 and Fisher and for this reason there has been much less excitement than would otherwise been noticeable. TWO CARDS. The following cards are issued by Lebold & Fisher. The first is one 01 thanks for yesterday's expression of good will, and includes a promise which depositors will receive with pleasure: We wish to express our most sincere thanks and appreciation for the many expressions of sy mpathy extended to us by the public, and for the wise counsel that bas prevailed on the part of all the attorneys, and for the very generous treatment we have received at the hands of our creditors. The situation is now very encouraging. We wish to caution our creditors not to sell their claims at a discount, as we can and surely will pay every dollar we owe it we are not hampered by litigation, and thus far no one has sued, or even threatened suit. We are slightly disfigured, but still in the ring. LEBOLD, FISHER & Co. The other is prompted by the need of funds to meet demands upon the firm's funds, and is as follows: All parties knowing themselves indebted to us, either by overdrafts 01 past-due notes, will confer a great favor upon us, as well as our patrons, if they will pay us at once if at all possible, as we wish to use the money in liquadation of our indebtedness. LEBOLD, FISHER & Co. MAYOR LEBOLD COMING. Mr. Lebold left Ohio yesterday for home and is expected tonight or tomorrow morning. Upon his arrival a settlement with all creditors will be pushed to a esnclusion at once, and it is thought that inside of fifteen days the bank's doors will be open again. No suits have yet been brought, and it is probable that none will. If none are brought, the firm will be able much sooner to straighten up affairs and enter upon business once more as of yore. No firm in Abilene has done SO much for the city or the county as Lebold & Fisher, and it is hoped and believed thai it will receive in its extremity the forbearance and good-will it has in the past extended to debtors. The REFLECTOR expects to see the firm's affairs brought to a successful and satisfactory outcome in the very near future and every creditor fully remunerated. Vote for Romig for surveyor. For pure Canadian maple syrupgo to


Article from The Cheyenne Daily Leader, September 20, 1890

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Article Text

Senator Ingalts as a Shylock. ABILENE, Kan, Sept. 19.-In an investigation of the affairs of the lately assigned Abilene bank of Lebold, Fisher & Co., before Judge Brown, President C.H. Lebold, of the wrecked bank, testified that at different times between July, 1887, and October. 1889, he had discounted Diekinson County farmers' paper at 18 per cent interest with money furnished by Senator Ingalls to the bank. The money was furnished for that purpose and the amount thus placed, he testified, would aggregate $10,000 all told. The notes were made payable to Lebold, Fisher & Co., and were assigned to John J. Ingalls, who now holds them. The testimony has caused considerable excitement among the farmers of central Kansas. The state law allows but 10 per cent.