6684. Bank of Hays City (Hays, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 10, 1896
Location
Hays, Kansas (38.879, -99.327)

Metadata

Model
gpt-5-mini
Short Digest
0334b721

Response Measures

None

Description

Articles report the state bank commissioner taking charge and the bank 'closed' in November 1896, with a receiver recommended and subsequently appointed. No bank run is described. Causes cited in coverage include mismanagement and recent crop failures; I classify the suspension as driven primarily by bank-specific adverse information (mismanagement) though local crop failures are also mentioned.

Events (4)
1. November 10, 1896 Suspension
Cause
Bank Specific Adverse Info
Cause Details
State bank commissioner took charge; failure attributed to mismanagement and recent crop failures (mismanagement emphasized).
Newspaper Excerpt
The state bank commissioner has taken charge of the Bank of Hays City at Hays City, this state. The bank's deposits aggregated $37,300 and it is stated that the depositors cannot receive over 50 per cent. The failure was due to mismanagement and the recent crop failures in western Kansas.
Source
newspapers
2. November 19, 1896 Other
Newspaper Excerpt
Affairs of the Bank of Hays City Being Examined Into. Hays City, Nov. 19.-The Bank of Hays City, which closed last week, now appears to be a big failure. At a depositors' meeting last Friday, Alex Phillips, a wealthy stockman, was recommended for receiver. The attorney general is here today to ask the court to appoint a receiver. The published statement in October showed $89,261 resources. The examiner reports but $32,224 as good, with $40,517 liabilities.
Source
newspapers
3. November 20, 1896 Receivership
Newspaper Excerpt
Receiver for Hays City Bank. Hays City, Nov. 20.-Edwin Little, late cashier of the Bank of Hayes City, has been appointed receiver, with a bond of $15,000.
Source
newspapers
4. February 24, 1897 Other
Newspaper Excerpt
HAYS CITY-Judge Monroe has appointed John Adkins receiver of the Bank of Hays City, Kan., to succeed Elwin Little, resigned.
Source
newspapers

Newspaper Articles (7)
1. November 11, 1896 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, November 11, 1896

Click image to open full size in new tab

Article Text

$445,515,45 Total F. B. Hutchins, cashier, says the depositors will be paid in full. and there will be a surplus for the stockholders. It will take some time to realize on the assets, but the business will be closed at once. The bank occupied the block known as the Iowa Savings Bank block, but did not own the building. DUBUQUE, Nov. 10.-(Special Telegram.) -The First National bank of Decorah, Ia. suspended today. TOPEKA. Kan., Nov. 10.-The state bank commissioner has taken charge of the Bank of Hays City at Hays City, this state. The bank's deposits aggregated $37,300 and it is stated that the depositors cannot receive over 50 per cent. The failure was due to mismanagement and the recent crop failures in western Kansas.

2. November 18, 1896 Barbour County Index Medicine Lodge, KS
Article from Barbour County Index, November 18, 1896

Click image to open full size in new tab

Article Text

NUMBER 28. NEWS IN BRIEF. William Osborn, an old Kansan, whe died at Waterville, N. Y., aged 87, was cremated. S. M. Allen, a Princeton college student, is in jail at St. Louis for rais ing $2 silver certificates to $10. The alien law in Kansas, which passed the legislature, is void, not having been constitutionally adopted. Samuel S. Tucker, a Tacoma, Wash., painter, killed Dr. James Wintermute and himself on the street. W. R. Watkins, who murdered Wyatt Williams at Ardmore, I. T., in October, will be hanged February 13. Captain Thomas Morrison, ex-mayor of Florence and Emporia, Kan., is dead at Danvers Port, Mass., aged 73. Ex-Treasurer George H. Morrison, of Renssalaer county, N. Y., got ten years and five months imprisonment for a $259,000 shortage. Sandy Campbell's house burned near Penington, Gratiot county, Mich., and his cousin aged 19 and two children 2 and 4 were burned. Engineer George Fairchild of Missoula, Mont., was killed.in a wreck on the Northern Pacific, and Fireman Frank Waldron injured. Breidenthal says the Kansas Populists are going to put in the winter investigating things, such as drunkenness among state employes, insane asylum management, etc. William Scarf, Mabel Wallace, Harry and Sadie Bauer are under arrest in Chicago for shoplifting. They have stolen $15,000 worth of stuff and sold it in New York. Jefferson City won over Sedalia by over 150,000. Mrs. Hungerford, "the Duchess," has typhoid fever. Washington has a handsome new theater, the Columbia. Weyler has taken the field in person against the Cubans. Woman suffrage vote in California: Yes, 80,000; no, 95,000. Massachusetts woolen mills are resuming on full time. George M. Fisher, pioneer resident of Leavenworth, is dead. Ex-President Harrison would not ao cept a cabinet position. New York gold Democrats will continue their organization. Bank of Hays City, Kan., Elwyn Little, president, has failed. Bellefonte, Pa., glass works will resume, after six years' idleness. Steamer Aznafarche sunk at Seville, drowning twenty duck hunters. Chicago has a new theater-the Great Northern-on Jackson, near Dearborn. Illinois supreme court has decided the Torrens land title act unconstitutional. Fire at Spencer, W. Va., burned thirty-nine stores and houses. Loss, $200,000. United States battle ship Texas lies at the Brooklyn dock again in sad repair. John J. Ingalls would be satisfied with a foreign ministry to a respectable power. Oregon Short Line is to be taken out of the hands of the Union Pacific receivers. Schooner Sonora was wrecked and five lives lost on the lake near Buffalo, New York. Munzcheimer & I. T., merchants, assigned. Daube, Ardmore, Liabilities, $100,000. a on the As result of the fight Glick, pension agency may be taken out of Kansas. Fred Van Zebeter, St. Stevens, S.C., went crazy and killed his wife and himself. Gold continues to pour into the subtreasury so rapidly as to tax the receiving tellers. A folding bed closed on Warren R. Mason, a Chicago drummer, broke his back and killed him. Iron and steel plants about Harrisburg, Pa., are resuming work since the sound money victory. : ) Idle Elwood, Ind., glass factories are starting up, and active ones are ine creasing their forces. 3 Hayden Mills, Chiltonville, Mass., after two years idleness, will start up ) soon with 200 hands. :

3. November 19, 1896 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, November 19, 1896

Click image to open full size in new tab

Article Text

PHILLIPS FOR RECEIVER. Affairs of the Bank of Hays City Being Examined Into. Hays City, Nov. 19.-The Bank of Hays City, which closed last week, now appears to be a big failure. At a depositors' meeting last Friday, Alex Phillips, a wealthy stockman, was recommended for receiver. The attorney general is here today to ask the court to appoint a receiver. The published statement in October showed $89,261 resources. The examiner reports but $32,224 as good, with $40,517 liabilities.

4. November 20, 1896 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, November 20, 1896

Click image to open full size in new tab

Article Text

Receiver for Hays City Bank. Hays City, Nov. 20.-Edwin Little, late cashier of the Bank of Hayes City, has been appointed receiver, with a bond of $15,000.

5. November 27, 1896 Kansas Agitator Garnett, Greeley, Topeka, KS
Article from Kansas Agitator, November 27, 1896

Click image to open full size in new tab

Article Text

THE BOOM. "Never before did business show such a change in a single week. The gain is surprising. Price of wheat is now the highest since June, 1892." Such are the words in flaming headlines, preceeding a report of R. G. Dunn & Co. Then follows the statement that foreign need of American wheat has sent the price up to 88 cents. Just how the election could effect foreign demand is not stated. It then says: "Many textile works have been started or increased in force on orders booked weeks ago, but there has not been much increase in demand." That is what we thought; until farmers can get decent prices (the farmers are not in it on the wheat boom) they cannot buy the "textiles," and hence the boom will be ever so short. By the same authority, purchases of wool, which has averaged over 9,000,000 pounds a week, had fallen to 6,243,700 pounds. We fail to see a boom in that. The market for cotton goods is not yet active and cotton is quoted 1/8 cent lower. The boom doesn't stick out there. The bare fact is that those who look for prosperity to follow the assurance of permanent gold standard are forcing a boom that cannot last. Over-production will be the cry, because people can't buy manufactured goods when they cannot realize anything on their own products. We should be glad to believe in better times to come, but reason and experience compel us to warn our readers against overreaching in an" ticipation of the promised good times. Without hunting for unpleasant news, our eye is constantly catching items like the following Nov. 5, A. J. Joyce & Son, carriages, Washington, D. C., assigned to Fred S Smith. Liabilities $33,000. Nov. 6, Gustave Hananer, clothing, Dayton, O., assigned to A. W. Goldsmith. Liabilities $100,000. Nov. 7, Coal miners Jackson, O., strike against reduction of wages. Nov. 7, Wood & Parker Lithograph Co., New York, assigned to Benoni Lockwood. Liabilities $30,000. Nov. 7, The Golden Scepter mining company, Quigley, Montana, assigned. Liabilities $285,000. Nov.7 7, The John Hoburg Co., lumber, Green Bay, Wis., assigned. Liabilities $25,000. Nov. 7, Wm. H. Trewargy, lumber, Boston, Mass., assigned. Liabilities $300,000. Nov. 9. Munzesheimer & Co., merchants, Ardmore, I. T., assigned to W. A. Ledbetter. Liabilites $100,000. Nov. 10, Iowa Savings Bank, Sioux City, closed its doors. Nov. IO, Stephen A. Richards, appointed receiver, for A. B. Smith, dry goods, Saratoga, N.Y. Liabilities, $45,000. Nov. IO, W. W. White & Co., cotton, Texas, assigned. Liabilities $200,000. Nov. II, Evening Post Pub., Co., Ft. Wayne, Ind., assigned. Nov. II, The bank of Hays City, Kansas, failed. Nov. I2, Clapp & Co., brokers, New York, assigned. Liabilities $150,000. Nov. 12, McEwen Manufacturing Co., Ridgway, Pa., assigned.

6. February 24, 1897 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, February 24, 1897

Click image to open full size in new tab

Article Text

HAYS CITY-Judge Monroe has appointed John Adkins receiver of the Bank of Hays City, Kan., to succeed Elwin Little, resigned.

7. March 10, 1897 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, March 10, 1897

Click image to open full size in new tab

Article Text

HAYS CITY-Last Friday evening Judge Monroe received a letter from Elwin Little containing his resignation as receiver of the Bank of Hays City, which was closed last November. Mr. Little was in New York when the letter was written.