6435. Thomas Kirby bank (Abilene, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
June 29, 1898
Location
Abilene, Kansas (38.917, -97.214)

Metadata

Model
gpt-5-mini
Short Digest
01d26de4

Response Measures

None

Description

The Thomas Kirby bank was closed by the state Bank Commissioner (government action) and placed in receivership; a receiver was appointed and dividends declared. The institution did not resume operations — a new Abilene State Bank was incorporated to take its place. No run is described in the articles.

Events (4)
1. June 29, 1898 Suspension
Cause
Government Action
Cause Details
Closed by Bank Commissioner Breidenthal who took charge; cited heavy real estate and loans and high interest on deposits.
Newspaper Excerpt
The Thomas Kirby bank was closed Wednesday morning, a notice being posted on the door to that effect by Bank Commissioner Breidenthal who arrived Thursday evening and took charge of the institution.
Source
newspapers
2. July 13, 1898 Receivership
Newspaper Excerpt
P. H. Halleck was appointed receiver for the Thomas Kirby bank. which failed two weeks ago. His bond was fixed at $100,000.
Source
newspapers
3. August 16, 1898 Other
Newspaper Excerpt
P. H. Halleck, receiver of the Thomas Kirby bank...today declared a dividend of 40 per cent.
Source
newspapers
4. September 23, 1898 Other
Newspaper Excerpt
The articles of incorporation have been taken out for the new Abilene State bank to take the place of the Thomas Kirby bank, which suspended two months ago... The bank will open in October in the location of the Kirby bank.
Source
newspapers

Newspaper Articles (7)
1. June 30, 1898 Abilene Weekly Reflector Abilene, KS
Article from Abilene Weekly Reflector, June 30, 1898

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Article Text

KIRBY'S BANK CLOSED FAILURE THAT CAUSES GREAT SURPRISE. Bank Commissioner Breidenthal Takes Charge and a Receiver Will Be Appointed-Many Depositors Affected. The Thomas Kirby bank was closed Wednesday morning, a notice being posted on the door to that effect by Bank Commissioner Breidenthal who arrived Thursday evening and took charge of the institution. 0 The failure was a great surprise as the bank had a wide confidence and its large line of deposits represented the savings of people in every part of la the county. The bank's latest statea ment was published April 5 and was h as follows:

2. July 4, 1898 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, July 4, 1898

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Article Text

CRITICISE BREIDENTHAL Patrons of Abilene's Suspended Bank Think He Was Too Hasty. Abilene, July .The farmers all over the county met Saturday to see about the payment of their deposits in the suspended Thomas Kirby bank, and much feeling was manifested by those who have their all and all tied up in the institution. Many depended on the money to pay the harvest hands and they do not know what to do. The other banks of the town have been accommodating and have helped many of the farmers along. They propose to buy much of the good paper that is in the assets of the bank and pay the cash to the receiver when appointed so that the first dividend will be larger for the depositors. There are many widows and single women among the depositors who are really suffering for the funds. The high rate of interest paid on deposits made them favor the bank for a depository. One Kansas City teacher had all her savings in the bank. A servant girl of Salina had nearly $1,500, the careful savings of years. The heaviest loser is J. W. Gillett of Woodbine, who had $22,000. He will endeavor to have it made a trust fund because it was money sent here to pay off mortgages on cattle. It is now believed that the real estate will not make the large returns that were exjected and that about 75 per cent is all that the depositors will realize unless under unexpectedly favorable circumstances in the settlement of affairs. The depositors held a largely attended meeting and by a rising vote expressed their confidence in Mr. Kirby's ability to straighten the bank's affairs better than a receiver, and voted unanimously to ask the bank commissioner to allow him to resume business and have two years in which to pay off creditors, expressing a belief that thus he could pay depositors in full. It amounted to saying that Breidenthal had used bad judgment in closing the bank and asking him to reverse his action.

3. July 13, 1898 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, July 13, 1898

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Article Text

HALLECK IS NAMED. Receiver of the Defunct Kirby Bank at Abilene. Abilene, Kan., July 13.-P. H. Halleck was appointed receiver for the Thomas Kirby bank. which failed two weeks ago. His bond was fixed at $100,000. The liabilities are over $230,000, and there are 700 depositors.

4. July 14, 1898 Abilene Weekly Reflector Abilene, KS
Article from Abilene Weekly Reflector, July 14, 1898

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Article Text

HALLECK IS RECEIVER. THOMAS KIRBY BANK TO BE SETTLED NOW. Bank Commissioner Makes an Estimate of Assets and Liabilities Says the Failure Was Due to Large Interest on Deposits. Assistant Attorney General Snelling, representing the attorney general's office, came to Abilene last evening and filed in district court proceedings asking for a receiver for the Thomas Kirby bank, closed two weeks ago. Judge Moore heard the petition and appointed ex-District Clerk P. H. Halleck receiver of the bank, fixing his bond at $100,000. Under the order of the court, which was prepared by the attorney general, the receiver must, within ten days after he has filed his bond and oath, prepare an itemized list of all assets and liabilities. This must be presented to the court, together with a petition asking for an order to pay dividends to the creditors. This petition must be presented to the court and not to the judge and for that purpose a special term will be called by Judge Moore. On the present showing a dividend of 25 per cent could be safely ordered to be paid, but it may be that during the first ten days of the receivership enough cash will come in to enable the receiver to pay a larger dividend. There is also a possibility of the receiver being able to sell some of the good paper to the other banks, or private investors, and, if so, that will materially increase the size of the dividend. The t order further states that whenever t the receiver shall have on hand I enough cash to pay a dividend of five 1 per cent or more, he shall file his petition with the court for an order of distribution. It also directs him to sell the real estate, fixtures, furniture, etc., of the bank at private sale, the terms of such sales in all cases to be presented to the court, or the y judge, and not to be consummated except on his order and approval. f The fact that the judge lives here will be of material benefit in this matter 1 c and all intervening orders can be obtained with little trouble and no loss a of time. i The compensation of the receiver n is entirely within the discretion of the court, to be allowed later, but the order provides that in no event shall he be allowed more than $150 per i month.

5. July 16, 1898 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, July 16, 1898

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Article Text

HALLECK IS READY. Kirby Bank at Abilene Will Go to Receiver at Once. Abilene, July -Receiver P. H. Halleck has prepared his $100,000 bond and takes charge of the Thomas Kirby bank as soon as the bank commissioner turns over the property to him. He will have T. E. Dewey for attorney and A. W. Livingston, formerly cashier of the bank, as chief clerk. Mr. Breidenthal has filed an estimate of the value of the assets, making it $224,074, with liabilities $230,608. He says that in his opinion the bank can not pay in full. The cause of the failure, he says, is largely due to the large interest paid on time deposits, over $100,000 having been paid thus in the past 12 years.

6. August 16, 1898 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, August 16, 1898

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Article Text

Kirby Bank Dividend. Abilene, Kan., Aug. 16-P. H. Halleck, receiver of the Thomas Kirby bank, which was closed about six weeks ago by the bank commissioner for carrying too much real estate and too many loans, today declared a dividend of 40 per cent. This dividend as a starter was 10 per cent more than was expected by the depositors.

7. September 24, 1898 Kansas City Journal Kansas City, MO
Article from Kansas City Journal, September 24, 1898

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Article Text

Abilene's New Bank. ABILENE, KAS., Sept. 23.-(Special.) The articles of incorporation have been taken out for the new Abilene State bank. to take the place of the Thomas Kirby bank. which suspended two months ago, J. J. Squier, of Kansas City, is to be president, and C. D. Prouty. of Kansas City, cashier. P. H. Halleck, A. W. Livingston, G. F. Livingston and C. M. Garver, of this county. are also to be connected with the institution as directors. The bank will open in October in the location of the Kirby bank, and have a capital of $25,000.