6536. Cimarron State Bank (Cimarron, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
October 2, 1902
Location
Cimarron, Kansas (37.807, -100.348)

Metadata

Model
gpt-5-mini
Short Digest
05fba391

Response Measures

None

Description

Articles (Oct 1902) report the Cimarron State Bank closed/suspended, deputy examiner found a large shortage (~$17,802), Assistant Attorney General applied for a receiver, and Judge Madison appointed A. Russell as receiver. Receiver later sold the bank building in Dec 1902. No explicit bank run described in the articles; insolvency led to suspension and receivership.

Events (3)

1. October 2, 1902 Receivership
Newspaper Excerpt
Assistant Attorney General Clad Hamilton ... made application ... Judge Madison went to Cimarron on Friday and appointed Mr. A. Russell ... who has given bond ... and has begun the work of settling up the affairs of the bank.
Source
newspapers
2. October 2, 1902 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Examiner found a large shortage (reported $17,802.17) and accounts/inventory in disorder; bank deemed insolvent leading to closure and application for a receiver.
Newspaper Excerpt
The closing of the Cimarron State ... business being practically at a standstill ... Eugene Davis, Deputy Bank Commissioner, finished his examination ... submitted his report to Clad Hamilton, assistant attorney general ... application to Judge Madison for the appointment of a receiver.
Source
newspapers
3. December 25, 1902 Other
Newspaper Excerpt
The Cimarron State Bank building was sold at public sale last week by Receiver Russell ... the building ... was finally sold to D. Francisco for $2285.
Source
newspapers

Newspaper Articles (4)

Article from The Globe-Republican, October 2, 1902

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Article Text

RUSSELL RECEIVER. Cimarron Bank is a Mixed Up Affair. May be Little Shortage. Assistant Attorney General Clad Hamilton, upon the report of the deputy bank examiner, made application last week for a receiver for the Cimarron bank. Judge Madison went to Cimarron on Friday and appointed Mr. A. Russell of this city, who has given bond in the sum of $40,000, and has begun the work of settling Mr. L. G. up the affairs of the bank. Grobety was appointed accountant. Regarding the bank's affairs the Cimarron Jacksonian says: "Loans, notes and overdrafts to the amount of over $10,000 were charged off, while many of them are known to be as good as gold. County warrants to the amount of $6,000 is listed at face value, and much of it will soon be redeemed at par with the interest added, which amounts to considerable. Additional securities, amounting to over $6,000 have been gathered up within the last few days. The bank building and fixtures is listed at $1,000, when the fixtures alone would be considered cheap at that price. The liabilities are placed at $58,000 in the report, and the bank officials claim the assets will exceed $60,000. Under the head of "insolvency" in the report the amount is given as $10,000, which, according to our understanding, means that if this amount-in the event it be found correct-was paid in, the depositors would be paid dollar for dollar."


Article from Meade County News, October 2, 1902

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Article Text

The Bank Muddle. From the Cimarron Jacksonian. The closing of the Cimarron State as announced in last week's in Jacksonian, Bank, has been uppermost was the public mind since the news made known, business being withpractically first at a standstill until peothe last day or two. But the shock in have recovered from the ple is once more running in the regular capita IS not as large as and along business channels. usual, The has per no serious inconvenience been but occasioned on this account. The publication of the Jacksonian order been delayed this week in with that has the very latest information laid regard to the situation might be before our readers. Eugene Davis, Deputy Bank Commissoner, finished his examination the inthe books and records of the of Wednesday, and on submitted his stitution same day report attorney to Clad Hamilton, assistant general, who came here.from Topeka for that purpose. He immediately in statement of the findings made filed District a Clerk's office and for the application to Judge Madison receiver to appointment of a the aftake the charge of and wind up fairs of the bank. Judge Madison came up upon yes(Friday) and acted Andy terday the application, appointing receiver. Russell, of Dodge City, as of Russell is the ex-treasurer ability Ford Mr. county, and a man of and character He will be standing. and unquestionable required $40,000 to in give a bond in the sum of some reliable surety company. Considerable dissatisfaction is ex- inthat no man of sufficient could be pressed and integrity teligence named in Gray county to have fill been this It would certainly the deplace. much more satisfactory to But as and all concerned. thouspositors county annually dumps sh ops Gray of dollars into the grog be ands stores of Dodge City it may feliows and well that we allow the entirejust down as there to manage affairs ly. receiver will commence his The as soon as his bond is approv- within work which will probably be In the ed, next two or three days. be meantime the Sheriff Pribble will in charge of the bank. The report of the examiner shows the shortage of $17,802.17. but much a officials claim that it is fact, they insist little if any shortage less-in bank will be that straight- when there books and accounts are that the out. The examiner states ened was in such a muddle everything it impossible to arrive at sitto correct render understanding of the uation. Loans, notes and overdrafts were amount of over $10,000 them the off, while many of gold. charged to be as good as of known warrants to the amount and County is listed at face value, at $6,000 of it will soon be redeemed which much with the interest added, Addipar to considerable. over amounts securities, amounting to have been gathered up last few days. and fixtures is tional in $6,000 building the The listed would with- bank at when the fixtures alone price. $1,000, considered cheap at that $58,000 be liabilities are placed at officials The the report, and the bank in the assets will exceed $60,000. claim the head of "insolvency" the amount is in which, if Under the report according given to our this as understandi $10,000, ng, the means event it that be found amount-in correct-was paid in, the dollar. depositors be would be paid dollar for will books and accounts JackThe carefully, and the the degone sonian over has confidence that positors will not suffer. all the members of the Bapist OcChurch, To the first Lords day in


Article from The Globe-Republican, October 9, 1902

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Article Text

City on business Tuesday. FOR TRADE-200 acres good bottom land near Hutchinson, price $6000. Will trade for cattle or western land and cattle. F. L. MARTIN, Hutchinson, Kansas. N. B. Klaine and wife who have been visiting at Pleasant Hill, Mo., are at present in Warrensburg. Mr. Klaine writes that they will remain in Missouri a few weeks longer. For Sale-If sold within 30 days. My house where I live, will be let go at a bargain. Ask W. T. Coolidge or myself. tf J. M. DODGE. Miss Stella Kirkpatrick from Ford Co. came down Saturday to begin a seven months school at the Ellis district.Meade Globe. Special values in boys' corduroy knee pants at 75 cents and $1 at YORK-KEY MERCANTILE Co. Hon. T. A. Scates was in Meade last week between trains on legal business. Tom has an excellent reputation as an attorney in this part of the state, and his legal services are always in demand.Meade Globe. Just arrived at YORK-KEY MERCANTILE Co., boys' fleeced underwear at 50 cents per suit. Robert Sterling of the grocery firm of Hugblette & Sterling has returned from a visit at Milo, Mo. G. A. Roberts of Lintner, Ill., suffered four years with a wad in his stomach and could not eat. He lost 65 pounds. Two bottles of Dr. Caldwell's Syrup Pepsin restored his appetite, cured his stomach trouble and today he is well and hearty and says he owes his health to Dr. Caldwell's Syrap Pepsin. LOST-A blue overcoat with check and bank book in pocket. Leave at Zimmer1t man Hardware store. A. ALLEN. Rev. Samuel I. Ward of Gunuison, Colorado will preach in the Presbyterian church at 11 a. m. and 7:30 p. m. Sunday October 12th. All are invited to these services. Get a free sample of Chamberlain's Stomach and Liver Tablets at Pine & Bond, Palace Drug Store. They are easier to take and more pleasant in effect than pills. Then their use is not followed by constipation as is often the case with pills. Regular size, 25c. per box. Mr. and Mrs. James Brown, now of Pueblo, were here this week visiting old friends. The literary and business meeting of the Epworth League will be held tomorrow night. A. Russell and L. G. Grobety have begun their work in the Cimarron bank as receiver and accountant. Tobe Authony who the people of Dodge City think is the best bicyclist in Kansas, has matched a race with Cox, the Wichita scorcher. The Dodge City boy was second to Cox in a recent race at Wichita. He has taken the Wichita man's measure and expects to beat him in the coming race. The match is for the championship of Kansas and will probably be run at Dodge City in the near future.


Article from The Globe-Republican, December 25, 1902

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Article Text

The Cimarron State Bank building was sold at public sale last week by Receiver Russell. There was a good crowd in attendance, but the bidding was confined to two or three persons. F. M. Luther and D. Francisco were the principal bidders. The building was started at $1800, and was finally sold to D. Francisco for $2285. A couple of desks and other furniture and fixtures which did not belong to the building brought about $100. voor GLOBE-REPUBL