6456. First State Bank (Argentine, KS)

Bank Information

Episode Type
Run Only
Bank Type
state
Start Date
July 7, 1905
Location
Argentine, Kansas (39.075, -94.672)

Metadata

Model
gpt-5-mini
Short Digest
7c7ed65a

Response Measures

None

Description

A depositor run occurred in early July 1905 linked to the failure of C.J. Devlin and fears about the parent Bank of Commerce; contemporaneous reporting explicitly calls the run ill founded rumor. No suspension, reopening, or receivership is mentioned.

Events (1)

1. July 7, 1905 Run
Cause
Rumor Or Misinformation
Cause Details
Ill-founded rumor and panic connected to the failure of C. J. Devlin and fear it would hurt the parent Bank of Commerce; depositors withdrew about $21,000.
Newspaper Excerpt
The First State Bank of Argentine, Kan., a suburb of Kansas City, was subjected to a run this morning because of the failure of Charles J. Devlin.
Source
newspapers

Newspaper Articles (2)

Article from The Sun, July 8, 1905

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Article Text

C. J. DEVLIN'S AFFAIRS. Creditors WILL Advance Money to Keep Mines at Work. TOPEKA, Kan., July 7.-"The Santa F6 Railway Company will not take part in the management of the coal mines which are involved in the failure of C. J. Devlin," said Clifford Husted, attorney for Devlin, to-day. "The creditors will advance money to carry on the mines and the payment of the miners' wages in the southern Kansas coal fields for a time. The Santa Fé is interested only in seeing that coal is furnished them as before. Forty thousand dollars will be advanced by the creditors. "The Illinois miners have just been paid off and nothing will be due for two weeks to come. We hope with the appointment of a receiver the mines will become successfully reestablished." Cyrus Leland of Troy, Kan.. and J. E. Hurley, general manager of the Santa F6 Railway system, were to-day appointed temporary receivers of the properties of C. J. Devlin, which were placed in voluntary bankruptcy on Thursday night. A bond of $25,000 is required. KANSAS CITY, Mo., July 7.-The First State Bank of Argentine, Kan., & suburb of Kansas City, was subjected to a run this morning because of the failure of Charles J. Devlin. The bank is a branch of the Bank of Commerce of this city, which has over $30,000,000 on deposit. Devlin owes the Bank of Commerce about $100,000 and the run is said to be due to the fear that the Devlin failure will hurt the parent bank.


Article from The Topeka State Journal, July 10, 1905

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Article Text

Run on Argentine Bank. The First State Bank of Argentine experienced a slight run Saturday. About $21,000 was withdrawn by the depositors during the day. The run was caused by an ill founded rumor and is attributed to the panicky feeling which obtained in Topeka during the early part of the week. It was claimed that the First State bank had some connection with interests that were affected here. The bank has a capital of $12,000 with deposits of over $200,000.