6517. Caney Valley Bank (Caney, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 17, 1893
Location
Caney, Kansas (37.011, -95.935)

Metadata

Model
gpt-5-mini
Short Digest
674be6a4

Response Measures

None

Description

Multiple newspapers (July 17–18, 1893) report the Caney Valley Bank (Caney, KS) among six Kansas state/private banks taken into possession by the State Bank Commissioner after Kansas City banks suspended. Articles attribute these suspensions to the failure/suspension of Kansas City correspondent banks. No article states Caney Valley Bank reopened; therefore classified as suspension leading to closure/receivership.

Events (1)
1. July 17, 1893 Suspension
Cause
Correspondent
Cause Details
Suspension caused by the suspension/failure of Kansas City banks in which these country banks (including Caney Valley) held deposits/correspondent balances; inability to obtain funds from correspondents precipitated closure.
Newspaper Excerpt
Six Kansas State banks went down in the financial flurry to-day. They are ... the Caney Valley Bank, of Caney. The banks have all been taken possession of by the State Bank Commissioner.
Source
newspapers

Newspaper Articles (10)
1. July 18, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, July 18, 1893

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SUSPENDED AND CLOSED. Two More Kansas City Institutions Unable to Stand the Pressure. KANSAS CITY, Mo., July 17.-The Mis. souri National Bank suspended.payment and closed its doors at 11:45 o'clock this morning. and the Grand-avenue Bank, a private institution. assigned this morning to James P. Pickel, who immediately took charge. The assets of the latter are placed at $200,000 and the liabilities at $140,000. The Grand-avenne Bank holds ample giltedged securities to meet obligations, it is claimed, and the officials say they expect to resume business shortly. It was rumored Sat day that this bank had closed, but it appears the officials secured money sufficient to tide them over till to-day. when it was hoped some other securities could be realized on. On account of the scarcity of money. bow. ever, this was impossible. Confidence in the ability of the bank to pay dollar for dollar is expressed by other bankers here and no excitement over the temporary sus* Dension is manifested. A. Lambert is president. H. Stubenrauch vice president, and H. C. Lambert cashier of the Grand-ave nue Bank. It was despite assertions of strength and the publishing of a favorable statement Saturday that the Missouri National Bank was taken possession of by the Controller of the Currency shortly before noon today. The officers show the assets at $1.254.785 and the liabilities, excepting capital stock, at about $700,000. During the run on the different national banks here Saturday quite a run was precipitated on the Missouri National, though the withdrawais were made by small depositors. This morning. however, several large depositors withdrew their money. and the amounts, running well up into the thousands, made further continuance impossible. For awhile slight confidence was restored by Ford Reim, a local brewer, depositing $32.000 in the concern. but this soon lost its effect for good. Aid had been asked from the Third National Bank of New York city, and the assistance was on the way. July 1 the bank paid the regular annual dividend of 3 per cent. The officers declare that depositors will be paid dollar for dollar. The Missouri National is a new bank, having opened in January. 1891. It has a capital stock paid in of $250,000 and its surplus 18 $6,000. According to the statements Saturday. issued in compliance with the request of the Controller of the Currency, cash and sight exchange were placed at $271,024 and the deposits at $900,763. The officersal D. V. Rieger. president; Henry C. Kaupf, vice president; R. D. Covington. cashier. Six Kaneas State Banks Flunken TOPEKA, Kan., July 17.-Six Kansas State banks went down in the financial flurry to-day. They are the bank of Ritter & Doubleday, of Columbus; the Johnson City Bank, of Johnson City; the Bank of Weir City, the Bank of Pleasonton, the Caney Valley Bank, of Caney. and the Bank of Meade. at Meade Center. It is impossible to obtain statements at this time. The banks have all been taken DOB. session of by the State Bank Commissioner. Other Failures. TOPEKA. Kan.. July 17.-State Bank Examiner Briedenthal says Hood & Kincaid's Bank, of Pleasanton, Kan., has failed and is in the hands of Deputy State Bank Commissioner Oshorna The canital stock in

2. July 18, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, July 18, 1893

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The East Refuses Denver Money. SAVINGS BANKS GO UNDER. Assistance Would Have Been Given but for the Doings of the Silver Convention. Special to THE MORNING CALL DENVER, July 17.-The People's Savings Bank, the Rocky Mountain Dime and Dollar and the Colorado Savings Banks did not open their doors this morning. The assets of the People's Bank are $1,500,000; liabilities, $1,330,000. President Lawrence says the failure will in no way affect the People's National. The Colorado Savings Bank statement shows: Deposits, $486,000; assets, $73,064 in excess of liabilities. The assets of the Rocky Mountain Dime and Dollar Savings Bank are $156,803; liabilities. $105,654. The officers of all three say the debts will be paid in full. It is understood that all assignments were preconcerted for self-protection and the protection of depositors. President Lawrence of the Peoples' Bank says the bank had about completed arrangements for temporary relief from Eastern banks, but the doings of the silver convention here caused them to withdraw all aid and the bank had no other recourse but to assign. Stocks are stagnant. The realizations produced uneasiness. Foreign securities closed lower than Saturday. KANSAS CITY, July 17.-The Missouri National Bank suspended payment just before noon, and the Comptreller of the Currency took possession. There is no statement, It has a paid-up capital of $250,000. The statement by the officers showed assets $1,254,735. liabilities $700,000. Assistance was on the way from the East, but did not arrive in time, as the depositors were making heavy draits on the bank. The officers declare the depositors will be paid in full. The Grand-avenue Bank, a private in. stitution, suspended this morning. The assets are $200,000; liabilities, $140,000. It is expected to resume shortly. It is not doubted among bankers that it will pay dollar for dollar. There was no well-defined run on any of the other national banks. although some deposits were drawn ou: TOPEKA, Kans., July 17.-Six Kansas banks went down in the financial flurry to-day. They are: Bank of Ritter & Doubleday, of Columbus; Johnson City Bank, of Johnson City; Bank of Wier City; Bank of Pleasanton, Caney Valley Bank, of Caney, and Bank of Meade, at Meade Center. It is impossible to obtain statements of their condition to-night. The banks have all been taken possession of by the State Bank Commissioner. PHILADELPHIA, July 17.-John J. McConnell, morocco and cotton manufacturer, has assigned. The liabilities are $200,000 and the assets will exceed $100,000. NEW YORK, July 17.-The Duplex Street Railway Track Company, incorporated in West Virginia, has failed. The liabilities are $150,000. ATLANTA, Ga., July 17.-The First National Bank of Cedartown, Ga., which has a capital of $75,000, closed to-day. The suspension was caused by the inability to realize on collaterals. The bank will resume as a State bank soon.

3. July 20, 1893 Audubon County Republican Audubon, IA
Article from Audubon County Republican, July 20, 1893

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AUDUBON, [AUDUBON CO., IOWA, THURSDAY. JULY 20, 1893 TWO MO THE HUDSON RIVER TUNNEL ING THE WEEK. SLAUGHTER GOES ON Application for a Receiver WIII Be The Grand Aven Fought-Other Business Troubles. at Kansas e has raised a fund of $130,000 GRADE CROSSING MURDERS IN NEW YORK, July At the office of KANSAS CITY CHICAGO. benefit of the survivors and J. R. Dos Lassos, attorney for the Bank of Grand of the dead firemen who lost Hudson River Tunnel company, a souri National s in the cold storage fire at statement was made to-day concerning ment to day. Passenger Train Crashes Into a Heavy the application of Pierson & Son of When the B I's Fair, and the purse is not Londed Street Car. Killing Four PasLondon for the appointment of a reovened its door lete. of the sum $24,099.75 sengers and Seriously Injuring Eight ceiver of the property of the company. ing a long line d ated by the exposition comOthers-How the Accident Happened, The company will fight the applion the sidewa the receipts at the last open cation for a receivership," said Mr. paying-teller a Dos Passos. "The Piersons allege they began dra CHICAGO, July 19. - Forty-ninth that the tunnel company is insolvent, The run kept street, at the crossing of the Grand tentiony the treasury deowning noth ng but the, shaft and the when the bank Trunk railroad, has been the scene of has been called to the fact tunnel. Those, I should think, were John James R another accident whereby lives were ral small tradesmen in differpretty good assets. At any rate, said to be $200, lost and many people injured. A Hal$3,000,000 has gone to them About through the Na of the country have refused sted street horse car was run into and 4,000 feet of tunnel have been comCity and it is a ; silver dollars n exchange hurled thirty feet to one side. It was pleted, leaving only about 1,900 feet money in that i filled with men and women, forty-six odities except on a basis of still to bore.' AFTER AN passengers being on board. The dead ty-five cents of value. It is The Duplex Street Railway Track are: company, a west Virginia corporation. such steps as these to depreciReport that a CHARLES PERKINS operating a patent for a street railway Lynched Net DILLON. a plumber. rrency of the country are contrack, with an office at 51 Wall street, UNIDENTIFIED WOMAN. BIRMINGHAM, aw, and the matter will probUNIDENTIFIED WOMAN. yesterday assigned to Jehn D. Eldwell has been sear referred to the attorney genThe injured: without preferences. Liabilities $150,night in and a 000. WILLIAM BURLMAN, 5358 Union avenue: is opinion. Good authorities negro who, it left leg broken and internally injured. may PHILADELPAIA, July -John J. ever, that the action of cerkilled two wom die. McConnell, a morocco and cotton manposse sighted orters of New York on deMRS. SANDERON,593 South Greenstreet; ufacturer, confessed judgment for yesterday after head and body bruised. gold in payment for all or$31,000 to George Kelly, trustee for shots at him, b J. C. SMITH. Sixty-first street and Wentimported drugs is within the himself and other creditors. Subseswamp and esea worth avenue; internally injured and skull quently Mr. McConnell made an asfractured; may die. The camp wa MRS. CELIA MITCHELL, 5821 Emerald avesignment to Thomas S. Kelly f r the and the belief is rd of directors of the World's benefit of creditors. he liabilities nue; bruised about the body. was captured a decided to hereafter close MRS. S. A. LACE, 5744 Union avenue: are estimated at $200,000, and the light he can bruised about the head and body. on Sunday. assets will exceed $100,000. said to have b MR VANDERBERG, 5544 Aberdeen street; TOPEKA, Kan., July The failure robbery. head and body bruised. rivan army bill passed the of six Kansas state and private banks FRANK VANDERBERG, her 8-year old son; Condition e by a vote of 201 to 185. were reported to the bank commishead cut and body brnised. TOPEKA, Kan. sioner yesterday. The suspension of JENNIE BLAKELY, 5810 l'merald avenue; W. K. Ackerman, of the crop bulletin of head and shoulders bruised. ea h s caused by the failure of their Columbian Exposition compartment of aga All of the injured were removed to reserve agencies in Kansas City. No led a statement of the finances their homes. B. Jennings, sa p rticulars have been received here. r from the time ot its incorbadly distribut The south-bound Halsted street car, The suspended banks are: The Bank fallen in the e of the open make, was crowded, and of Johnson City, the Bank of Weir to the first of July, The total western half of men were standing on the foot-boards. City, Hood & Rincade's private bank f inoney received by the fair extreme north It was in charge of Conductor Frank P easanton, the Caney Valley bank of ds, interest, souvenir coins, the central cou Barnett and Driver Charles Statuecker. Caney, Ritter & Doubleday of Columas and miscellaneous sources have generally bus and the Bank of Meade and Meade At Forty-ninth street is a network of Corn is general to $21,251,316. The disburseCenter. tracks, and the crossing has always begun to silk in been regarded as a dangerous one. A MADISON. Ind., July 19. The Carcluding erection of buildings ern counties. long freight train going west had just rollton Woolen Mill company has made ating expenses, amount to about over. Fl passed, and the tower-man, George an assignment to H. M. Winslow 0. derson is about Liabilities $75,000, assets unknown. Barnett, had raised the gates. This good crop. Hot was taken as a signal that the way port from the committee on The cause is attributed to the stringent or less in the ml money market was clear, and Statuecker whipped up is at the Denver silver convision." his horses as he started to drive across WASHINGTON, July The compas in the form of an appeal to the tracks. Previously, however, Controller of the currency has been inSold Papers U e of the United States asking formed that the first national bank of ductor Barnett had gone ahead and, CHICAGO, Jul 1 and candid consideration of not seeing the approaching passenger and John Lewis Cedartown, Ga., closed its doors yes train because of the freight, he moterday. relating to silver mining and $10 and costs tioned his driver to an ahead

4. July 20, 1893 Audubon County Republican Audubon, IA
Article from Audubon County Republican, July 20, 1893

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AUDUBON, AUDUBON CO., IOWA, THURSDAY. JULY 20, 1893 TWO MORE THE HUDSON RIVER TUNNEL RING THE WEEK. SLAUGHTER GOES ON Application for a Receiver WIII Be The Grand Avenue a Fought-Other Business Troubles. at Kansas City S GRADE CROSSING MURDERS IN ago has raised a fund of $130,000 NEW YORK, July - At the office of KANSAS CITY, M CHICAGO. e benefit of the survivors and Bank of Grand Ave J. R. Dos Lassos, attorney for the es of the dead firemen who lost souri National ba Hudson River Tunnel company, a statement was made to-day concerning ment to day. lives in the cold storage fire at Passenger Train Crashes Into a Heavy the application of Pierson & Son of When the Bank orld's Fair, and the purse is not Loaded Street Car, Killing Four PasLondon for the appointment of a reopened its doors for implete. of the sum $24,099.75 sengers and Seriously Injuring Eight ceiver of the property of the company. ing a long line of de Others-How the Accident Happened, donated by the exposition comThe company will fight the applion the sidewalk a cation for a receivership," said Mr. as the receipts at the last open paying-teller appea Dos Passos. "The Piersons allege they began drawin y. CHICAGO, July 19. - Forty-ninth that the tunnel company is insolvent, The run kept up 1 street, at the crossing of the Grand attention gft the treasury deowning noth but the, shaft and the when the bank was Trunk railroad, has been the scene of tunnel. Those, I should think, were ent has been called to the fact John James Rucke another accident whereby lives were pretty good assets. At any rate, said to be $200,000. everal small Tradesmen in differlost and many people injured. A Hal$3,000,000 has gone to them About through the Nation rts of the country have refused sted street horse car was run into and 4.000 feet of tunuel have been comCity and it is allege hurled thirty feet to one side. It was ept silver dollars n exchange pleted, leaving only about 1,900 feet money in that in ti filled with men and women, forty-six still to bore. minodities except on a basis of AFTER ANO passengers being on board. The dead The Duplex Street Railway Track r fifty-five cents of value. It is are: company, a west Virginia corporation, Report that " Colo at such steps as these to depreciCHARLES PERKINS operating a patent for a street railway Lynched Near E DILLON. a plumber. e currency of the country are contrack, with an office at 51 Wall street, BIRMINGHAM, Ala UNIDENTIFIED WOMAN. to law, and the matter will probyesterday assigned to Jehn D. Eldwell has been searchir UNIDENTIFIED WOMAN. be referred to the attorney genwithout preferences. Liabilities $150,The injured: night in and aroun 000. WILLIAM BURLMAN, 5358 Union avenue: or his opinion. Good authorities negro who, it is left leg broken and internally injured. may killed two women I PHILADELPAIA, July -John J. lowever, that the action of cerdie. McConnell, a morocco and cotton manposse sighted the importers of New York on deMRS. SANDER ON,5936 South Greenstreet; ufacturer, confessed judgment for yesterday afternoo head and body bruised. ng gold in payment for all or$31,000 to George Kelly, trustee for shots at him, but J. C. SMITH. Sixty-first street and Wenthimself and other creditors. Subseof imported drugs is within the swamp and escaped worth avenue; internally injured and skull quently Mr. McConnell made an asThe camp wassu fractured: may die. signment to Thomas S. Kelly f r the MRS. CELIA MITCHELL. 5821 Emerald ave and the belief is get board of directors of the World's benefit of creditors. The liabilities nue; bruised about the body. was captured and 1 ave decided to hereafter close MRS. S. A. LACE, 5744 Union avenue; are estimated at $200,000, and the light he cause bruised about the head and body. assets will exceed $100,000. said to have been tes on Sunday. MR VANDERBERG 5544 Aberdeen street; TOPEKA, Kan., July 19. - The failure robbery. head and body bruised. German army bill passed the of six Kansas state and private banks Condition of C FRANK VANDERBERG her 3-year-old son; tag by a vote of 201 to 185. were reported to the bank commishead cut and body brnised. TOPERA, Kan., Ju sioner yesterday. The suspension of JENNIE BLAKELY, 5810 l'merald avenue; itor W. K. Ackerman, of the erop bulletin of the head and shoulders bruised. ea " caused by the failure of their I's Columbian Exposition compartment of agrieu All of the injured were removed to reserve agencies in Kansas City. No issued a statement of the finances B. Jennings, says: their homes. p rticulars have been received here. badly distributed. e fair from the time of its incorThe south-bound Halsted street car, The suspende. banks are: The Bank fallen in the cent of Johnson City, the Bank of Weir of the open make, was crowded, and on to the first of July. The total western half of th men were standing on the foot-boards. City, Hood & Kincade's private bank t of money received by the fair extreme northwest It was in charge of Conductor Frank P easanton, the Caney Valley bank of bonds, interest, souvenir coins, the central countie Barnett and Driver Charles Statuecker. Caney, Ritter & Doubleday of Columssions and miscellaneous sources have generally rece bus and the Bank of Meade and Meade At Forty-ninth street is a network of Corn is generally Center. ats to $21,251,316. The disbursetracks, and the crossing has always begun to silk in the been regarded as a dangerous one. A MADISON. Ind., July Car, including erection of buildings ern counties. Th long freight train going west had just rollton Woolen Mill company has made operating expenses, amount to about over. Flax an assignment to H. M. Winslow. passed. and the tower-man, George derson is about r 0,160. Liabilities $75,000, assets unknown. Barnett, had raised the gates. This good crop. Hot wi The cause is attributed to the stringent was taken as a signal that the way report from the committee on or less in the middl money market was clear, and Statuecker whipped up tions at the Denver silver convision.' his horses as he started to drive across WASHINGTON, July 19. The compn was in the form of an appeal to troller of the currency has been inthe tracks. Previously, however, ConSold Papers Unde formed that the first national bank of cople of the United States asking ductor Barnett had gone ahead and, CHICAGO, July calm and candid consideration of and John Lewis, n not seeing the approaching passenger Cedartown, Ga., closed its doors yesterday. train because of the freight, he mo$10 and costs by ets relating to silver mining and Named Lin

5. July 20, 1893 Abilene Weekly Reflector Abilene, KS
Article from Abilene Weekly Reflector, July 20, 1893

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Six Kansas Banks Suspended. TOPEKA, Kan., July 18.-The office of the bank commissioner is in receipt of advices from six Kansas banks which closed yesterday. The commissioner was preparing to close the bank of Retter & Doubleday, of Columbus, but an assignment was made to D. P. Hazleton. The Johnson City bank closed its doors owing, it is said, to the suspension of the National Bank of Kansas City. The bank of Weir City, the bank of Pleasanton, the Caney Valley bank and the bank of Meade all lay their failure to the same cause. Bank Commissioner Breidenthal is taking charge of the concerns by telegraph.

6. July 20, 1893 Grant County Herald Lancaster, WI
Article from Grant County Herald, July 20, 1893

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MANY BANKS FAIL. Kansas, Missouri and Colorado's Institutions Forced to Close Their Doors. TOPEKA, Kan., July 18.-State Bank Commissioner Breidenthal was on Monday notified of the suspension of six state and private banks in Kansas, all due to the suspension of Kansas City banks in which they had deposits. The banks reported are the Bank of Johnson City, the Bank of Weir City, Hood & Kincaid's private bank of Pleasonton, Caney valley bank of Caney, Ritter & Doubleday's private bank of Columbus and the Bank of Meade of Meade Center. Kansas CITY, Mo., July 18. - The Missouri national bank, which was looked upon as one of the stoutest houses in the west, closed its doors at noon. Its assets are nearly $2,000,000, while its liabilities are only one-half of that figure. At 9:30 a. m. the Bank of Grand avenue failed for $250,000. DENVER. Col., July 18. - The first bank failure in Denver since 1874 occurred Monday morning when the People's savings, the Colorado savings and the Rocky Mountain dime and dollar savings banks closed their aoors. The assets of the People's savings bank are $1,500,000; liabilities, $1,350,000. The Colorado savings bank has assets over liabilities, it is claimed, amounting to $73,000. The assets of the Rocky Mountain dime and dollar savings bank are $156,803.53; liabilities, $105,654.32.

7. July 22, 1893 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, July 22, 1893

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BY THE WHOLESALE. Bank Failures in the West Multiplying Daily-On Monday There Were Six in the State of Kansas, Two in Kansas City and Three in Denver. TOPEKA, Kan., July 18.-State Bank Commissioner Breidenthal was on Monday notified of the suspension of six state and private banks in Kansas, all due to the suspension of Kansas City banks in which they had deposits. The banks reported are the Bank of Johnson City, the Bank of Weir City, Hood & Kincaid's private bank of Pleasonton, Caney valley bank of Caney, Ritter & Doubleday's private bank of Columbus and the Bank of Meade of Meade Center. KANSAS CITY, Mo., July 18. - The Missouri national bank, which was looked upon as one of the stoutest houses in the west, closed its doors at noon. Its assets are nearly $2,000,000, while its liabilities are only one-half of that figure. At 9:30 a. m. the Bank of Grand avenue failed for $250,000. DENVER. Col., July 18. - The first bank failure in Denver since 1874 occurred Monday morning when the People's savings, the Colorado savings and the Rocky Mountain dime and dollar savings banks closed their doors. The assets of the People's savings bank are $1,500,000; liabilities. $1,350,000. The Colorado savings bank has assets over liabilities, it is claimed, amounting to $73,000. The assets of the Rocky Mountain dime and dollar savings bank are $156,803.53; liabilities, $105,654.32. It is understood that all the assignments were preconcerted and the step was taken for self-protection and for the protection of the depositors. The direct cause of the failures was the universal hard times and the inability to realize on securities. The president of each bank declares that every depositor will be paid in full and that the institutions will resume.

8. July 22, 1893 The Irish Standard Minneapolis, Saint Paul, MN
Article from The Irish Standard, July 22, 1893

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MANY BANKS FAIL. Four in the City of Denver Forced to Close Their Doors. Anxious Depositors Crowd the Streets-Mercantile Houses Pulled Down-Seve al Kansas Banks in Trouble-Failures at Other Places. BAD DAY FOR BANKS. DENVER, Col., July 19.-No such scene was ever witnessed in all the west as could be seen here Tuesday morning shortly after 10 o'clock, when the banks were supposed to open their doors for business The failure of three savings banks Tuesday had excited the masses and the streets were crowded with anxious depositors. The eleven clearing-house banks, located within four blocks of each other, were surrounded, and far into the streets the crowd gathered until officers and special police were called out to clear the way for traffic. STARTED THE RUN. The Union national, with a capital of $1,000,000, posted a notice that they would not open their doors. This started the panic, and, following quickly, the Commercial national posted a similar notice and then the National bank of commerce. The Commercial national bank closed its doors within a few minutes after opening, for it became apparent from the size of the crowd in front of the bank that a run was to be inaugurated. The bank was in bad shape. It has a capital stock of $250,000 and only had $2,000 in cash in the bank. The Mercantile bank, a private institution, with a capital stock of $100,000, closed its doors at noon. The failure was caused by the failure of the Union national bank, through which it cleared. BUSINESS HOUSES CLOSED. The McNamara Dry Goods company, one of the largest institutions of the kind, failed Tuesday morning. The liabilities are placed at $260,000. The failure was brought on by an attach ment served at 1 o'clock Tuesday morning by the Union national bank, which failed to open its doors, for $71,780, and the Colorado national for $20,847. Following the failure of the big McNamara dry goods house several other mercantile failures were quickly announced. One was the John Mouat Lumber company on an attachment from the German national bank for $155,200. Albert Nelson's restaurant and saloon went down with the National bank of commerce. His assets are placed at $111,510. with liabilities of $96,725. M. S. Noah. installment furniture house. Assets, $40,000: liabilities, $16,000. Three other firms with liabilities of $20,000 each were announced as having failed Tuesday afternoon. They were all caused by the bank panic. TROUBLE IN KANSAS. TOPEKA, Kan., July 19.-State Bank Commissioner Breidenthal was notified Tuesday afternoon of the failure of the Citizens' bank of Kansas City, Kan.; the Citizens' bank of Armourdale, the Bank of Richmond, Franklin county, and the Farmers' and Merchants' bank of Osawatomie. All of the banks were doing a small business. FORT SCOTT, Kan., July 19.-The First national bank of this city failed to open for business Tuesday morning, owing to steady withdrawal of deposits and inability to collect assets. The officers claim that the bank's assets are more than three times its liabilities and depositors will lose nothing. QUIET AT KANSAS CITY. KANSAS CITY, Mo., July 19.-The impression prevails that the recent financial flurry is at an end. All was quiet on Tuesday. The banks in Kansas City which have failed are: The National bank of Kansas City, the Missouri national bank, the Kansas City Safe deposit and savings bank and the Bank of Grand Avenue, the latter being a state bank. COUNTRY BANKS SUSPEND. TOPEKA, Kan., July 18.-State Bank Commissioner Breiden thal was on Monday notified of the suspension of six state and private banks in Kansas, all due to the suspension of Kansas City banks in which they had deposits. The banks reported are the Bank of Johnson City the Bank of Weir City, Hood & Kincaid's private bank of Pleasonton, Caney valley bank of Caney, Ritter & Doubleday's private bank of Columbus and the Bank of Meade of Meade Center. Robbed of a Big Sum. NASHVILLE, Tenn., July 18.-W. H. Wallace, a prominent citizen of Lebanon, Tenn., who had been to St. Louis, the

9. July 27, 1893 The Redwood Gazette Redwood Falls, MN
Article from The Redwood Gazette, July 27, 1893

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BUSINESS OUTLOOK. The Country Passing Through an Extraordinary Strain. Record of Bank Failures in Kansas and Colorado-A Milwaukee Bank Closes -Big Mills and Factories Ceasing Operations. WEEKLY TRADE REVIEW. NEW YORK, July 22.-R. G. Dun & Co.'s weekly review of trade says: "This week the country has withstood surprisingly well an extraordinary strain. The failure of many banks and firms have come despite the relaxation in eastern and in some southern and western money markets. Denver banks were overthrown largely by the crazy actions of the people, but in most cities statements show the banks in a healthy condition, and there has since been noticed more readiness to extend accommodation. Under all the conditions it is astonishing that business has been so well maintained with so little evidence of unsoundness. "The stagnation in iron has closed some mag. netite mines in this state and New Jersey and most of the mines in Michigan. Coke is moving downward, pig iron is inactive, and though dealings in bar and structural projects are somewhat larger prices are the lowest ever known. "Wheat has fallen 2 cents, corn 1 cent. Pork products and oil are lower. In place of the expected advance in sugar a decline has come and cotton, after some advance, recedes again. Western receipts of wheat are moderate and exports fairly large, but unprecedented stocks press for sale. The stock market closed last week hopefully, but by Wednesday had reached the lowest average of prices since 1884. London and short sellers then bought and some recovery has followed. "At Philadelphia banks are holding currency and strengthening themselves. An easier feeling prevails at Pittsburgh in ircn. The Cincinnati money market is easier and Cleveland reports grocery trade good, but iron wholly inactive. Toronto notes better feeling. Indianapolis no improvement but banks in strong position, and Detroit a quiet business with the outlook not very cheerful "At Milwaukee the closing of some manufactures and reduction of wages in others and the failure of the great iron syndicate are noticed. At St. Paul trade is restricted; at Minneapolis lumber sales are reduced and sales of flour below the output Omaha trade is good and St. Joseph fair. Receipts of cattle light at Kansas City. Denver trade is demoralized, but now more hopeful, and many reported assignments are regarded as a measure of protection. St. Louis reports business good. in volume and character. but trade checked by closeness of money, banks fortifying themselves. "The treasury has been paying gold to the banks, but on the whole increasing its holdings. Exports of products are a little larger than a year ago, but imports a so large. "The failures during the past week number 467 in the United States, against 168 last year, and twenty-five in Canada against nineteen, two of the failures exceeding $500,000 and 101 others exceeding $5,000 each. Last week the failures in the United States numbered 374." KANSAS BANK FAILURES. TOPEKA, Kan., July 2.-During the past week the following banks in the state have closed their doors: Bank of Johnson City, Bank of Weir City, Caney Valley bank of Caney. Bank of Meade, Meade county, First national of Fort Scott, Citizens' bank of Kansas City, Bank of Richmond, Farmers' and Merchants' bank of Ossawattomie, Citizens' of Armourdale, First national of Anthony, Bank of Belleville and the Hutchinson national of Hutchinson. -COLORADO BANKS. DENVER, Col., July 22.-Seven banks in this city suspended during the past week. Throughout the state suspensions were reported as follows: The Bank of Sterling, the Bank of Loveland, First national and Union at Greeley, National at Grand Junction, First national at Canyon City and the Bank of Crested Butte. A MILWAUKEE BANK ASSIGNS. MILWAUKEE, Wis, July 22.-The Commercial bank has made a voluntary assignment. The assignee named in the papers filed is A. B. Geilfuss, the cashier of the bank, and his bond is placed at $1,700,000. The entire fund of Milwaukee county, amounting to $310,624, was deposited in the Commercial bank. Another big depositor was the newly-organized Milwaukee Electric Railway company, to the extent of $200,000. The last statement of the bank showed demand deposits amounting to $557,748 and time deposits $528,919. The bank had a capital of $250,000. The liabilities of the bank® are estimated at about $1,500,000 and the assets at about $1,700,000. BIG MILLS TO CLOSE. MILTON MILLS, N. July 22.-The

10. July 27, 1893 The Farmers' Union Memphis, MO
Article from The Farmers' Union, July 27, 1893

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FINANCIAL AND INDUSTRIAL -Chica zo has taken Boston's place Ir the last six months and is now second in bank clearings in the country. -Steady withdrawal of deposits has caused the National Bank of Kansas to close its doors. Depositors will be paid in full. -Lumber shovers at Tonawanda are returning to work. an indication that the strike has been effectually broken -Unsettled condition of business has caused the Benson Magnetic Iron Works, at Little River. to suspend operations -There was a great flurry a wheat Tuesday morning on the Board of Trade. London opened from three to four points off. and this caused New York to be very weak. Then the unexpected flurry in Western banks caused a fluctuation on the Chicago Board and wheat broke from 69 cents, Monday night's close. to 66½ cents the first hour Tuesday morning. The first drop was to 683/4 cents and later to 67½ cents. Then there was a rise to 673/4 cents, and the next drop came down to 661/2 cents. For several days, says our correspondent, the feeling has been heavy and the pit has been filled with "long" wheat. Still there was a feeling also that the financial stringency would not last long and that there would be a a general rise in a short time. But when the news of so many failures began to come from the West, ever "long" sought cover. --Six Kansas banks, c rrespondents of the failed National Bank of Kansas City, closed their doors as follows: The Bank of Johnson City, the Bank of Weir City, Hood & Kincaid's Bank at Pleasanton, the Caney Valley Bank at Caney, Ritter & Doubleday's Bank at Columbus and the Bank of Meade at Meade Center. -The failure of the national banks at Denver has resulted in closing up a number of private concerns. Those who have made assignments. with liabilities when given, are: M. S. Noah, furniture. $16,000; Albert Nelson, restaurant. $96,725; Engle & Harris, general merchandise, $4.664; Hyman & Cohen. shoes; McWhirter & Dripps, mantels and tiles: John Mouat Lumber Company: Luther J. Wygant. tiles and grates, $14,870; Evans-Littlefield, confectionery. -Fifty-three girls employed in the fiberroom of the Edison lamp works at Newark, N. J., struck because of a reduction in wages for piece work. The reductions were from 35 cents a thousand for one grade to 25 cents, and in another grade from 25 cents to 16 cents The managers claim that this step was necessary owing to the sharp competition. -The Texas Central Railroad Company recorded a doed of trust at Waco to secure an issue of $2,000,0000 of first mortgage bonds -R. G. Dun & Co.'s Weekly Review of Trade says: There is a somewhat better tone in business because money markets are a little less stringent But it cannot be said as yet that there is any distinct improvement In every direction unusual conservatism prevails. orders are relatively small, the volume of business is restricted, and a waiting policy rules.