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A GREAT excitement has reigned in western banking circles the past week by reason of the failure of the American National Bank of Kansas City. Their liabilities are estimated at $2,000,000. Several Kansas banks have suspended in consequence of the Kansas City failure, one at Downs, one at Glen Elder, one at Cawker City, one at Clyde and other points. Phillipsburg Banks, fortunately, were not hurt any, or if so very slightly.
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IS IT TRUE? Within our own borders a general condition of prosperity prevails.-Harrison's Message, 1891. This is the text from which every Republican journal in the land has been preaching, and every person who, from a just conception of the deplorable condition of the country has dared to question the statement has been designated as a "calamity howler." Still the wreck of homes and of fortunes goes on, and while noting the daily failures in business and the foreclosures of mortgages upon the homes of the people, those blind leaders of the blind are perfectly oblivious of the causes which are constantly producing these effects. On Monday the 18th inst., the news flashed over the wires of the failure of the American National bank at Kansas City. The same day one of the largest tradesmen in this city failed. On the 20th we find in the morning Capital the following specials: STATE BANKS ASSIGN. Special to the Capital. DOWNS, Kan., January 20.-As a result of the failure of the American National bank at Kansas City yesterday, the State bank of this place suspended operations to-day, making an assignment for its creditors, the principal one being the American National. Special to the Capital. CAWKER CITY, Kan., January 20.-The State bank of this place assigned to-day. The failure was precipitated by the crash of the American National at Kansas City. Special to the Capital. GLEN ELDER, Kansas, January 20.-The bank of this place closed Its doors to-day. It was founded by Parker & Churchill of the Kansas City National. JAMES G. OGDEN CLOSED OUT. Special to the Capital. FORT SCOTT, Kan., January20.-Th First National bank this morning took possession of the furniturestoel and of Jas. G. Ogden under chattel mortgage. The liabilities are about as follows: To First National bank, $5,000; to Ell Kearns, $2,000; to outside creditors, $6,000. The home creditors are all fully secured by chattel mort. gages and good endorsements, and the others are secured by second mortgages. The liabilities are about $13,000 and the estimated assets are in the neighborhood of $15,000 including stock and accounts. The cause of Mr. Ogden's embarassment is the maturity of paper due creditors and the failure to realize on collections coupled with the fact that sales have been very light. This is but the beginning. One failure always results in others, and the number depends upon the magnitude of the first. These failures operate in two ways upon the business of the country. They result in serious if not overwhelming direct losses to other houses, and at the same time necessitate so much greater caution in ordinary business accommodations 88 to seriously embarass every man engaged in any kind of business. We have here a country of unbounded resources. possessing within itself all the natural elements of unlimited prosperity, yet we have an annual record of from 10,000 to 13,000 business failures, involving from two hundred to three hundred millions of dollars, while the farms and the homes of city and hamlet are passing into the hands of money loaners to any alarming rate. While the aggregate wealth of the country has rapidly increased we are confronted with the fact that two-
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vide for the settlement of Inter-State irrigation questions, to prevent the passage of measures inimical to the interests of the people of this State and to urge upon Congress the appropriation of such sums of money as may be reasonably devoted and ought to be devoted to the developing means of irrigation in aid of actual settlers upon arid and semi-arid lands which were taken as agricultural lands. The failure of the American National Bank at Kansas City, Mo., resulted in the suspension of the State Bank at Downs, the State Bank at Cawker City and the bank at Glen Elder. Late post-office changes in Kansas: Established-Igo, Rooks County, John B. Stelly, postmaster; North Cedar, Jefferson County, George L. Tosh, postmaster; Orange, Norton County, Elizabeth A. Tyler, postmistress. Discontinued-Enne, Rawlins County; Jasper, Meade County; Turck, Cherokee County. Coal and other supplies are being shipped to the needy of Western Kansas. Atchison sent a car load of flour to Rawlins County. a A late fire at Horton destroyed number of business houses, including the Bank of Horton, the Saulter block, Deirtsch Bros.' dry goods store, Craig Bros.' store, Hempkill's dry goods store and the Commercial office. Loss estimated at $200,000. Mrs.. George Wilson of Ottawa, left the house a few moments the other morning and soon heard the report of a pistol, causing her to return hurriedly, when she found that her eight-year-old daughter had shot and killed the baby as it lay in the cradle. The revolver was not supposed to be loaded and the little girl had gotten hold of it while playing in the room.
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A GLOOMY OUTLOOK. Hard Times in the Soldler State-Western Kansas in Danger of Being Deserted by Its Hunger-Stricken People-Mortgaged Farms by Whole Townships Falling Into the Hands of Eastern Capatalists. BELOIT, Kas., Jan. 27.-The people of Western Kansas have never before in the history of the State known such difficulties as at of or ent. fearful The financial scarcity money any thing presconvertible into it is almost pitiful and have all can the do the to business keep houses alive. Following they failure of the American National Bank of Kansas City, four banks of this county alone suspended, one each at Cawker City, Dows, Glen Elder and here. There was no run made on any of them, but the little deposit they carried with their correspondent was their ruination. All over the western third of the State the cry of destitution grows louder and the Legislature has been made to hear it. An idea of the extent of the suffering can be had when it is known that twenty counties have already applied to the Railroad Commission ers for assistance. In fact all the State west of the 100th meridian, excepting a small district in the Arkansas Valley where irrigation prevails, needs it. The first appeal came from Rawlins County, where, following the abundant crops of 1889, came a total failure last year. Next came Thomas County and then others, until the line of destitution reached over all the land west of the one hundredth meridian, and extended from north to south. Every Grand Army post over the State is being called on, the Farmers' Alliances are taking in supplies, the Legislature is appropriating money, and yet but a small portion of the suffering can be relieved. The sodhouses are almost all barren, and those families where the father is not well, or where there is no father to care for the children, there is little hope for more than a bare subsistence. Many hundred families are now living on corn meal and warming themselves by means of buffalo chips, or dried manure, picked up on the plains. They have no money and their mortgages are long past due. The mortgage companies are foreclosing scores of farms daily, but to no good. They only receive a pitiful bid and are forced to take in the property. Hence in some counties there are whole townships owned by Eastern parties who will never get their cash out of their investment.
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DESTITUTION IN KANSAS. Twenty Counties Appeal for Assistance -Financial and Crop Failure. The following press dispatch from Beloit, Kan., tells of the suffering of the people in the western portion of the state: The people of western Kansas have never before in the history of the state known such fearful financial difficulties as at present. The scarcity of money or anything convertable into it, is almost pitiful and the business houses have all they can do to keep alive. Following the failure of the American National bank of Kansas City, four banks of this county alone have suspended, one each at Cawker City, Downs, Glen Elder and here. There was no run made on any of them, but the little deposit they carried with their correspondent was their ruination. All over the western portion of the state the cry of destitution grows louder, and the legislature at Topeka has been made to hear it. An idea of the extent of the suffering can be had when it is known that twenty counties have already applied to the railroad commissioners for assistance. In fact all the state west of the 100th meridian, excepting a small district in the Arkansas valley where irrigation prevails, needs it. The first appeal came from Rawlins county, where, following the abundant crop of 1889, came a total failure last year. Next came Thomas county, and then others, until the line of destitution reached all over the land west of the 100th meridian and extended from north to south. Every Grand Army post in the state is being called on, the Farmers' Alliances are taking in supplies, the legislature is appropriating money e and yet but a small amount of the u suffering can be relieved. The sod houses are almost all barren, and those families where the father is not well or where there is no father to 1 care for the children, there is little hope for more than a bare subsistence. Many hundred families are now living on corn meal and warming a themselves by means of buffalo chips, d or dried manure, picked up on the plains. They have no money and & their mortgages are long past due. S The mortgage companies are foreclosing scores of farms daily, but to ez no good. They only receive a piti.. ful bid and are forced to take in the property. Hence in some counties b there are whole townships owned by Eastern parties who will never get fe their cash out of their investments. b The situation is a grave one and should the present season prove as a disastrous as the past one there will eo bea veritable exodus from the plains W and they will be left as barren ofeivas Ilization as they were twenty years DE ago,