6515. Caldwell bank (Caldwell, KS)

Bank Information

Episode Type: Run → Suspension → Unsure
Bank Type: state
Start Date: November 28, 1881
Location: Caldwell, Kansas (37.032, -97.607)

Metadata

Model: gpt-5-mini
Short Digest: e8453799

Response Measures

Full suspension

Other: Event sequence: run on Caldwell bank leading to its closure/failure; later informal settlement by owner Danford with creditors (transfers of notes and securities). No explicit receiver named in the articles.

Description

Contemporary dispatches (late Nov–early Dec 1881) report a protested draft on the Caldwell bank's New York account that precipitated heavy withdrawals and the banks 'closed their doors' / suspended. Officers (Danford and cashier Smith) were arrested and later forcibly brought back by townsmen; a later report (Dec 8) says Danford effected a settlement with creditors and was released, but the sources do not clearly state the bank resumed normal operations. Thus a run led to suspension and subsequent settlement — ultimate reopening is not clearly reported.

Events (2)

1. November 28, 1881 Run

Cause: Bank Specific Adverse Info
Cause Details: A protested draft on the Caldwell bank's New York account (protested draft on Chase National NY) undermined confidence and triggered heavy withdrawals.
Measures: No formal liquidity measures described in articles; officers removed collaterals and some assets were moved to Newton; creditors' committee later arranged transfers of notes/securities as part of settlement.
Newspaper Excerpt: the cashier here thinks the trouble entirely uncalled for, and blames the Caldwell cashier for not keeping his New York account up, as a protested draft on the Caldwell bank caused the run.
Source: newspapers

2. November 28, 1881 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Following the run and revelations about bank assets/accounts (and arrests for receiving deposits after insolvency), the bank closed/suspended operations; Osage City savings bank also suspended due to complications with Caldwell and Hunnewell banks.
Newspaper Excerpt: the Hunnewell and Caldwell banks, which closed their doors a few days previous.
Source: newspapers

Newspaper Articles (12)

1. November 29, 1881 The Cheyenne Daily Leader Cheyenne, WY

Article from The Cheyenne Daily Leader, November 29, 1881

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Paris advices state that Firman has accepted the governorship of Algeria on terms which reduce it a mere prefect. Victoria Woodhall has arrived in New York with her daughter, who was falsely reported engaged to Lord Colin Campbell. Osage City, Kansas, Nov. 29.-The Osage City savings bank has suspended, being under the same management as the recently suspended Hunnewell and Caldwell banks. Menssonier, the artist, gave a soiree in Paris in honor of the American photographer who invented the process by which photographs can be taken of animals in the swiftest motion. General Sheridan has written to Miss Clara Barton, American representative of the society of the Red Cross in favor of congressional recognition of the soclety in accordance with the terms of international convention of the leading European powers at Geneva. The chief object of the society is the amelioration of the sufferings of the sick and wounded in armies during war. The Chicago Tribune's editorial says: One of the first duties of congress will be to abolish the Hawaiian reciprocity treaty which has simply been the means of enriching a few planters in the Sandwich Islands and a sugar pool in San Francisco and has cost the government a million a year in revenues. The facts about this outrageous sugar monopoly on the Pacific slope has been repeatedly stated and never denied. The Tribune's Washington special says: The latest place for which Chauncey J. Filley has been mentioned is the land commissionership of the Union Pacific railway. Tilley is here interested in securing a cabinet position, and said upon being inquired of that the talk about the Union Pacific position was news to him. To his intimate friends, however, Filley speaks with great confidence of being made postmaster-general.

2. November 29, 1881 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, November 29, 1881

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Domestic. Rondout, N. Y. 28.-John Booth's stone quarry, at Wilbur, caved this morning, killing the foreman, Edward Kearney, and Michael Gilhem, and seriously injuring John Cassidy and Sandy Phalen. Washington, 28.-Caucus of democratic senators will be called for Saturday. Alvin O. Buck has been arrested, charged with conspiracy to defraud government, through the postoffice department. New York, 28.-Schaefer says he will challange Dion for the billiard champion emblem before going to Europe to play Vigneaux. Wallack's new theatre is nearly completed, and will be formally opened, December 12th. Springfield, Mass., 28.-Increasing small pox necessitates a new pest house. Osage City, Ks., -The Osage City bank has suspended, being under the same management as recently suspended the Hunnewel and Caldwell banks. Frankfort, Ky., 28.-The legislature met to-day. Boston, 28.-Langdon W. Moore, who has served six years for burglary, was to-day sentenced to seven years more for burglarizing the Warren Bank, Charlestown in 1879. He is 59.

3. November 30, 1881 Wheeling Register Wheeling, WV

Article from Wheeling Register, November 30, 1881

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THE KANSAS BALDWIN In the Hands of An Incensed WobGreat Excitement, and Threats That He Will be Lynched Unless He Pays Up. HUNNEWELL Ks., November 9.-The exeitement at Caldwellstill continues at fever heat. Threats are made, and will be carried out. that Danford must settle before to-morrow or die. At Hunnewell the cashier, Mr. Bowers, settled up with the depositors, with collaterals real estate, etc., and paid up to within three thousand of the indebtedness. His course has given satisfaction to every one. The deposits at Caldwell were about fifty thousand. As all the collaterals books. etc., were removed to Newton, it is impossible to tell how far they will go towards paying up. Danford has offered to pay part. but the depositors refuse to "settle. A heavy guard watches Smith and Danford day and night. Sheriff Thralls left for Wellington to-day. He says he can do nothing against the mob. and it is with Danford to settle or die. The feeling is greatly aggravated Danford that fact the by assigned all his real estate to Col. Hood. of Emporia. on Saturday last: that he offered his guards $1,000 each, while being bronght back. to let him escape. and the removal of the Caldwell property from the bank on Saturday, which Smith took with him to Newton, although deposits were received up to the last minute. At a meeting of the committee a determined man was sent after F. A. Tanner, with instructions to bring him at all hazards. Tanner is thought to have had something to do with the removal of the collaterals Danford told the cashier here that he had just disposed of the Carbondale bank. The bank building at Lyndell was finished, but not opened for business It was reported and believed that Danford has disposed of the Hunnewell City bonds $16,000. to some parties in New York Mayor Hughes and F. M. Ford have gone East to look after this. The cashier here thinks the trouble entirely uncalled for, and blames the Caldwell cashier for not keeping his New York account up. as a protested draft on the Caldwell bank caused the run. All the banks were doing well, and nothing but crooked work could have caused the failure

4. December 1, 1881 The Emporia Weekly News Emporia, KS

Article from The Emporia Weekly News, December 1, 1881

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Danford and His Troubles. HUNNEWELL, Kas., Nov. -The excitement at Caldwell still continues at fever heat, and threats are made that Danford must settle before noon to-morrow or die. At Hunnewell, Mr. Bowers settled with the depositors with collat. erals, real estate, etc., up to within $3,000 of the indebtedness. His course has given satisfaction to every one. The deposits at Caldwell were about $50,000. As all the collaterals, books, &c, were removed to Newton, it is impossible to tell how far they will go toward paying up. Danford has offered to pay a part, but the depositors refuse to settle. A heavy guard watches Smith and Danford day and night. Sheriff Thrall left for Wellington today. He says he can do nothing agaisnt the mob, and it is with Dauford to settle or die. The feeling is greatly aggravated by the fact that Danford assingned all of his real estate to Col. Hood, of Emporia, on Saturday last. He offered his captors $10,000 each, while being brought back, to let him escape. Smith removed the Caldwell property from the bank on Saturday, although deposits were received up to the last minute. At a meeting of the committee, a determined man was sent after F. A. Tanner, with instructions to bring him at all hazards. Tanner is thought to have had something to do with the removal of the collateral. Danford told the cashier here that he had just disposed of the Carbondale bank. The bank building at Lindon was finished, but not opened for business. It is believed that Danford had disposed of the Hunnewell city bonds for $16,000 to some parties in New York. Mayor Hughes and E. M. Ford have gone east to look after this. The cashier here thinks the trouble entirely uncalled for and blames the Caldwell cashier for not keeping his New York account up, as a protested draft on the Caldwell bank caused the run. All the banks were doing well and nothing but crooked work could have caused the failure.

5. December 1, 1881 The Emporia Weekly News Emporia, KS

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OVER THE STATE. It is estimated that there are 300,000 cattle in Barbour county. The United States circuit court convened in Topeka Monday. Lightning rod swindlers are preying upon the people of Osage county. Ft. Scott is complaining of a raid of gamblers from Chicago and Missouri. Isn't it nearly the time of year for the its Wichita Eagle to come out with awe-inspising pork packing statistics? The case of W. R. Elliott, the Topeka bigamist, has been continued for one week. The defendant could not give bail and was committed. A 16,000 fire occured at Coffeyville, Kansas, on Monday night. There was of no wind blowing or a large portion the city would now be in ashes. Wichita Eagle: The new water mill started its machinery on Tuesday, and It everything moved off satisfactorily. stands the proprietors in $28,500. The funeral of Sister Rhodie, well known throughout the west, took place sisat Leavenworth on Monday. Fifty ters of charity took part in the services. Champion: Within three months Atchison will have three railroad routes to the Rocky Mountains, the A. T. and S. F. road, the Central Branch and the Burlington and Missouri River. The Witchita Daily Times will hereafterb issued by The Times Publishing Company. Judge Campbell, late judge of the Thirteenth district, has purchased a half interest in the paper and will be one ot its editors. The Leavenworth Times of Sunday editorial on "Good We should have sans." has an supposed Looking Kan- that the innate modesty of Col. Anthony would have suggested the impropriety of his tackling such a delicate subject. Mr. Sells, of Topeka, who has had a great deal of experience in feeding and caring for stock says that one ton of timothy is worth two tons of prairie hay, and that Kansas will never reach her best possibilities as a stock state until her farmers grow timothy for winter feed. The Osage City savings bank suspended payment on Monday owing to com- and plications with Danford's Caldwell Hunnewell banks, which suspended last Friday. The friends of the bank have the utmost confidence in its ability to meet all of its obligations in a short time. Governor St. John has written a letter to the Winfield Courier, earnestly denying that he advocated the election of a bolting ticket in Riley county, just before election, as has been charged by some of the papers. No one who knows the governor believed there was any truth in the charge. The Junction City Union suggests that the Kansas Congressional delegation tackle the Kansas Pacificland question and secure such legislation as will compel the railroad to pay taxes like other folks. The Union claims that there are nearly three million acres of this land in a condition not subject to taxation and not likely to be. A meeting of wool growers will De- be held at Larned on the 14th day of cember, for the purpose of organizing an Arkansas Valley Wool Growers Association, for all counties west of Newton. Forty-five individuals or persons of owning over eighty thousand head sheep endorse the call and promise to make the movement a success. The Board of Church Extension of the Methodist Episcopal church, as their shows, has aided in the erection of of sixty-five map churches in Kansas, most which are in the small towns and counplaces. Southeast Kansas is dotted all try over with the red crosses, showing that Ft. Scott and Emporia districts are building a large number of these churches. On the 12th of January the Marion Record is to be to a nine column paper, of seven County enlarged and Cottrell from the a fice is to be furnished with a new power press, and new type. We hope the Hoch boys are not attempting morethan their paironage and the increased growth of their town and county will justify. They have stuck faithfully to their business for many years, always being ready to strike for the interests of their town and county, and to defend the good name of both. The increase in the size of the and their facilities for printing, ought paper to give them a largely increased patronage and influence. THE News joins with the many friends of the Rec ord throughout the state in wishing the it that measure of prosperity which faithfuldess and enterprise of its pub. lishers so well deserve.

6. December 1, 1881 The Daily Gazette Wilmington, DE

Article from The Daily Gazette, December 1, 1881

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MUST PAY UP OR DIE. The Imperiled Kansas Bank Oficers-Intense Public Excitement. A special dispatch from Hannewell, Kan., says: The excitement at Caldwell still continues at fever heat. Threats are made, and will be carried out, that Danford must settle before to morrow or die. At Hannewell the cashier, Mr. Bowers, settled up with the depositors with collateral real estate, etc., and paid up within $3,000 of the indebtedness. This course has given satisfaction to every one. The desposits at Caldwell were about $50,000. As all collaterals, books, etc., were removed to Newton it is impossible to tell how far they will go toward paying up. Danford has offered to pay part, but the depositors refused to settle. A heavy guard watches Smith and Danford day and night. Sheriff Thralls started for Wellington to day. He says he can do nothing against the mob, and it is with Danford to settle or de. The feeling is greatly aggrayated by the fact that Danford assigned all his real estate to Colonel Head, of Emporia, on Saturday last, and that he offered his guards $1,000 each, while being brought back, to let him escape, and by the removal of the Caldwell property from the bank on Saturday, which Smith took with him to Newton, although deposits were received up to the last minute. At a meeting of the committee a determined officer was sent after F. A. Tanner with instructions to bring him at all hazards. Tanner is thought to have had something to do with the removal of the collateral. Danford told the cashier here that he had just disposed of the Carbondale Bank. The bank building at Lyndon was finished, but not opened for business. It is reported, and believed, that Danford has disposed of the Hunnewell City bonds-$16,000to some persons in New York. Mayor Hughes and E. M. Ford have gone East to look after this. The cashier here thinks the trouble entirely uncalled for, and blames the Caldwell cashier for not keeping his New York account up, as a protested draft on the Caldwell bank caused the run. All the banks were doing well, and BOTHing but crooked work could have caused the failure.

7. December 2, 1881 Wheeling Register Wheeling, WV

Article from Wheeling Register, December 2, 1881

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THE KANSAS BANKS. Indignant Depositors Choking Cashier Smith Into a Confession. HUNNEWELL KANSAS, December 1.-The excitement over the Hunnewell and Caldwell bank failure still runs high. At one time yesterday it was thought President Danford and Cashier Smith would never see daylight again. They are under a heavy guard A determined crowa of swindled depositors say a settlement must be made at once in full, or Danford and Smith must die. All is quiet here. The latest news from Caldwell is that a rope was put around Smith's neck and gently pulled, which induced him to make a confession, the substance of which cannot be learned.

8. December 2, 1881 The Corvallis Gazette Corvallis, OR

Article from The Corvallis Gazette, December 2, 1881

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Osage City, Ks., Nov. 28.-Osage City Savings bank has suspended, being under the same management as the recently suspended Hunnewell and Caldwell banks.

9. December 3, 1881 Huntsville Gazette Huntsville, AL

Article from Huntsville Gazette, December 3, 1881

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THE Osage City (Kansas) Savings Bank suspended on the 28th, owing to complications with the Danford Caldwell and Hunnewell banks, which closed their doors a few days prevlous. Danford, owner of the latter Institutions, and Smith, his cashier, were arrested and taken to Wellington, upon charges of receiving deposits after they knew their banks to be insolvent. Some hours later a party of men from Caldwell took the two bankers by force from the officers with the avowed intention of taking them back to Caldwell and compelling them to disgorge. There was some apprehension that they might be lynched.

10. December 3, 1881 The Milan Exchange Milan, TN

Article from The Milan Exchange, December 3, 1881

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COMMERCE AND INDUSTRY. A NATIONAL convention of cottonplanters and manufacturers is to be held at Atlanta, Ga., commencing December 6. THE celebrated Iowa barb-wire cases will come up January 3 in the United States Circuit Court at Keokuk. A full Bench will be present, Judge McCrary presiding. B. F. Butler, of Massachnsetts, and C. C. Cole, of Des Moines, will appear for the farmers. THE Indian Territorial Legislature has voted the right of way for a new railroad. IT is reported that Mr. Jay Gould has secured control of the New York & New England Railroad Company. It is further reported that he has perfected plans for connecting the line directly with New York and with the elevated railroad system. THE Roumanian Government has renewed for a year the prohibition of the importation of pork from the United States and several European countries. THE Osage City (Kansas) Savings Bank suspended on the 28th, owing to complications with the Danford Caldwell and Hunnewell banks, which closed their doors a few days previous. Danford, owner of the latter institutions, and Smith, his cashier, were arrested and taken to Wellington, upon charges of receiving deposits after they knew their banks to be insolvent. Some hours later a party of men from Caldwell took the two bankers by force from the officers with the avowed intention of taking them back to Caldwell and compelling them to disgorge. There was some apprehension that they might be lynched. DECEMBER 9 has been designated as "Mayors' Day" at the Atlanta Exposition. The Mayor or his representative from every city in the Union is expected.

11. December 8, 1881 The Emporia Weekly News Emporia, KS

Article from The Emporia Weekly News, December 8, 1881

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wamorus Carawon The following special was sent from Newton to the Kansas City Journal yesterday: Danford has finally effected a settle. ment of his Caldwell bank failure, and has reached this city on his way home, where the transfer of certain notes and securities that had been spirited away is being made to his creditors. THE LIABILITIES of the Caldwell bank, as reported by a committee of its creditors, are as follows: $40,317.77 Due depositors. Due Merchants' National bank, Kan4,038 83 sas City. 2 895.62 Due Quinian, Montgomery & Co Drafts protested 8,548.66 Due Commercial Bank 8,936.45 Total $54,732.38 ITS RESOURCES, as estimated by the same committee are as follows: $15,000.00 Summer county real estate 33,000 00 Promissory notes Overdrafts 5,915.65 5,568.00 Collaterals given up to depositors Due from other banks 4,696.60 Total $63,180.25 Excess of resources over liabilities 9,417.92 In addition Danford assigned $65,000 of stock in the Lawrence mining and smelting company which may or may not represent an actual value. This property has been transferred to S. S. Richmond, a respectable citizen of Caldwell, as trustee for six months, Danford to have the surplus on making good any deficit. The creditors are well satisfied at the outcome and expect to realize dollar for dollar within the specified time. Judge Campbell, of Wichita, is Danford's attorney, and W. A. McDonald, of Wellington, and Lang & Lewis, of Caldwell, represent the creditors. The validity of the transfer of this property under the peculiar circumstances of threats and indignation, it is hinted, may figure further along in the case. At 3 o'clock Danford and Smith were released and the entire party, Danford and wife, Smith, Denman and Tanner, were conducted to the train, accompan. ied by the committee appointed by the creditors, and left for the north. At Wellington, Mr. George, agent of Wells, Fargo & Co., bankers, Sait Lake, came aboard the train and served a summons of a suit for the recovery of $8,000, on protested drafts on the Chase national bank of New York. These drafts were bought by S. Browne, at Danford's bank, October 20, and cashed by Wells, Fargo & Co. Danford and Smith both disclaimed any knowledge of the transaction at first, but presently recalled it and became slightly obstrep. erous, Danford refusing to be bulldozed any further, and even threatening to refuse to transfer the notes at this place, but finally revereed his decision upon the advice of his attorney. Danford now goes to Osage City to straighten up matters there, where the five days' grace asked for by him expired two days ago. He is particularly bitter against several prominent bankers of Kansas, and darkly hints that his misfortune has been turned to a political advantage by prominent parties with whom he may yet settle with om pound interest.

12. December 8, 1881 The Emporia Weekly News Emporia, KS

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AIRS Said He Smith Being elected by the the $20,000 A the of the Caletw Bank The Opinion Prevails TI Danford Has Every to Means Pay thing He Owes and That He will Do It The following information regard ding Danford and his career banker found in special dispatch dated No vember 29th and sent from W ell lington to Comm the Topeka city from The out this dispatch closing of the doors of the banks Hunner the and news given the public the came Danford down in with Cashier and Smit day ichita started on da both They the same Wichita and where they city back this were trying to give $25,000 for next term of the district court Pending these proceedings delegation of the from Caldwell to the number of fifty put finally and took in an appearance and 11 char the started 28th night claim that Caldwell They they ply proposed make Danford disgorg The last news from here the effect Hunney the been settled with but the Cold ple have not It be that ford has large sum of money and they what he have them propose The expected light trouble country uproar and no man can predict the end. Kansas to Danford came in sum mer 1869 and settled in Emp in where he bus iness with E. P Bancn and Mr Han. na. He dorado in the spring of 1870. and after blishing National bank at tha with Frake conno place These and others. the after shortly The Eldor National at Wichita W the failed and bank Wichita shot the bank Gossard was Fraker failed the president and to Danford peniten the sent both of sold his they before Osage by City former] R of Swallow John W General Danford Ellet S. others 1874 the year tion in Danford con Since then number with other of S Schmidt, M the estab county Danford bank, Danford selling his The last Hunnewell bank were both un the control In addi his Carbondale start had made he to at Lvndon small been Danford very S. has prosper thi since his was reported many He sands dollars spread out with many banks on his hands but it was not thought that straight was through run. kept up close ex lived has bank doors any for that trave think but all many agantly he will not only be able to pay out but besic left something A special dispatch from W ellington to the Topeka Capital, dated Decemb 1st says Everything is now quiet down here either so far as any Smith Danford the the of cashier, these tlemen have nothing more rough The which fear has all done the and would have done some hanging had been given hall chance has subsid and all those com posing who had any gone to back it have ment THE OF OFFICERS THE have will ren such der Danford and Smith perfect and perso: from any hard probable now that any mob. less composed of nnt determ at two could men get wel in and are they as safe place There is no denying fact that these two men have been and place critical and tight had not wiser and better counsels pre tree before limb some the of from long of how been Had this Danford hung, of anything getting from the ban broken have small deed and fact hung that he deal faction with of good by some who see depositors, not of all, what if something, had in the bank at the time it closed y doors assets the of that now is It said the Bank Dro and ants' up to about $40 000 while the the neia in somew to fact the that Owing $60,000. of books and papers of the bank before or hidden doors the len those making the affairs of bank the good deal of trouble but the above about The be statement time Danf made leaves TO GOOD ABOUT $20,000 but it the general im and lief has that he thing owes. He has which opera ings and valued $20,000 at has that. sold kinds ous settle to un him when Danford that probable is he that ning not say but with left. much held out to him settle on the square it do believed will he is Wichita at which been sitting has come all and its ability has Danford time. fully for the lie has great danger ling days, and made reports, good most to losse by OF HIS BANK, this and able. so he far as general extent fullest of the to believed, doubt There better the future be will for tha of Mr Danford if he settle full a believe here the that people he fully able do so. and therefore fooli no stand Another dispatch from W ichita The Danford compi here has hich been day for a sitting has in getting past. $30,000 of Danford fo the ndebtedness bank of the the Caldwell and they think they The more close labors its defin and time that by Danfo affairs how known that can settle he belief is up here though it everything leave him with little or nothing about $30,000 make to him square with his dep other creditors The following special dispatch Wellington appeared in the Kansas Cit Journal yesterday Danford and Smith, the presio an Cald the bank of secretary at nd failing are still in the custody of the in took from which forcibly on sheriff and took Monday night to Caldwell where they have been since guard them under day afternoon about the time the leaving Caldwell for north Judge Campbell, of W ichita, Danford Iry attorney was waited upon and request to leave the town, with the assurance