6733. Armourdale Bank (Kansas City, KS)

Bank Information

Episode Type: Suspension → Reopening
Bank Type: state
Start Date: July 15, 1893
Location: Kansas City, Kansas (39.114, -94.627)

Metadata

Model: gpt-5-mini
Short Digest: 7f606c5d

Response Measures

None

Description

The Armourdale Bank suspended payment in mid-July 1893 during the broader Kansas City banking panic/financial crash and was placed in the hands of the Kansas Bank Commissioner. It reopened about one month later (Aug 16, 1893). The articles describe a regional panic and runs on other banks but do not explicitly describe a discrete run on Armourdale itself prior to suspension; therefore this is classified as a suspension (no documented run) followed by reopening. Date discrepancy in reports (July 15–16) noted; I list suspension as July 15 based on first report and reopening Aug 16.

Events (2)

1. July 15, 1893 Suspension

Cause: Macro News
Cause Details: Suspension occurred during the broader financial crash/panic in Kansas City in mid-July 1893; other local banks failed or suspended and there were runs in the city, prompting Armourdale to suspend and be placed in the hands of the state bank commissioner.
Newspaper Excerpt: The Armourdale (Kan.) bank at No. 416 Kansas avenue suspended payment at 3 o'clock this afternoon and was placed in the hands of Bank Commissioner Breidenthal of Kansas. The liabilities are $35,000, and the assets about double that amount.
Source: newspapers

2. August 16, 1893 Reopening

Newspaper Excerpt: The Armourdale Bank at Armourdale, which suspended business in the financial crash one month ago, has reopened its doors and resumed business.
Source: newspapers

Newspaper Articles (8)

1. July 16, 1893 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, July 16, 1893

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The Daily Record or nanea Failures. LONDON, July 15.-The failure is announced today of Ernest M. E. Fresson, stock and share broker of No. 2 Austin Friars. KANSAS CITY, July 15.-There was a quiet run on the National Bank of Commerce as soon as that concern opened for business this morning. In a statement made yesterday the condition of the bank was shown to be good, and the officers assert they will be able to withstand a long run, which, however, they think will not be necessary. Their statement sh JWS cash on hand $1,141.655, with deposits of $2,977,327, showing more than the 25 per cent reserve law. are talized required at by $2,000,000. They But thought little excite- capi- the ment and it is bank as the bank with the will ranks prevails, pull through strongest. all right, a The directors of the bank held meeting to consider the financial situation yesterday. After very carefully examining into the condition of the bank the members of the directorate signed an agreement individually pledging their entire estates for the security of depositors. There was not a member of who that made him enpaper the board hesitated liable held to for sign by the the the tire amount of deposits bank, SO great was their confidence in its stability. The directorate represents a combined wealth of 82,000,000. KANSAS CITY, July 15.--Bank ExG. W. Galbreath took of the aminer charge suspended which this suspended morning Kansas City National bank, yesterday. CARMI. III., July 15.-The private bank of Hay & Webb, of this place, has made an assignment. The assets are about $215,000 and liabilities about $180,000. At the meeting of the creditors of the insolvent bank held last night, a series of resolutions was adopted, placing the affairs of the bank in the hands of J. R. Webb and a committee of three creditors, Leonard Pyle, James MeClintock and George Clark, to wind up the business. The general opinion is that the creditors will be paid in full. NEW YORK, July 15.-Two hundred thousand ounces of silver were shipped to Europe today on the New York. KANSAS CITY, July 5.-The NorthBanking company closed its doors rup this morning and voluntarily placed itself in charge of State Bank Commissioner Breidenthal. J.S. Chick, president of the National Bank of Kansas City. which suspended yesterday, is also of the Northrup Banking and that fact a on bank this company. president the latter morning. caused run While the of the bank seems fairly officers of the not their assets good, condition to the jeopardize bank by did meetand at 10 The bank has a care ing bank's the doors. run, o'clock surplus closed paid-up the capital of $100,000, with a of Its assets are its liabilities $315,000. It is de$50,000. will $475,000 ultimately believed and be positors and creditors paid in full. The Armourdale (Kan.) bank at No. avenue. susat 3 416 pended Kansas payment Armourdale, o'clock the this hands of afternoon and was placed in Bank Commissioner Breidenthal, of Kansas. The liabilities are $35,000, and the about double consist largely of They assets Seneca, that real amount. estate Kan., security. J. E. Taylor, of was president. The bank had a capital stock of $30,000, and a surplus of $4,500. Thirty days ago it had $55,000 of deposits, but that amount ha4 been reduced one-half. The officers believe the depositors will be paid in full. CINCINNATI, July 15.-Two receivers were appointed for the John Kauffman brewery Saturday morning. The application was made by Mrs. Mary Kauffman, widow of the late John Kauffman, to Judge Wilson. She owned 16,000 shares of the stock. Notes amounting to $60,000 will fall due in August. Owing to the stringency of the money market the company could not realize money to meet them. They claim the assets amount to $600,000, and liabilities to $150,000. Attorney Frank Sheffer and Brewery Manager Emile Schmitt were appoiuted receivers. An effort will be made to effect a settlement, and continue business. CHICAGO, July 15. -The Ladlow Shoe company made an assignment this afternoon. CHICAGO, July 15.-The Boston Foundry company assigned today. Assets $175,000, liabilities $200,000. NEW YORK, July 15.-Will Abeles, manufacturing furrier, made an assignent-today to George Fragner without preference. PEORIA, III., July 15.-The private house of at 1 closed banking its doors William o'clock Oberhouser this afternoon. It was one of the oldest estab-

2. July 17, 1893 The Morning News Savannah, GA

Article from The Morning News, July 17, 1893

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A Kansas Bank Fails. Kansas City, Mo., July-16.-The Armourdale Bank of Armourdale, Kan. suspended payment yesterday and was placed in the hands of Bank Commissioner Dreidenthal of Kansas. The liabilities are $35,000 and the assets double that amount.

3. July 20, 1893 The Worthington Advance Worthington, MN

Article from The Worthington Advance, July 20, 1893

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CORELY TRIED. adidas City Banks Forced to Stand Heavy Rea-All Demands Promptly Met, However at Other rolate KANSAS City, a. July 10.-Saturday was a trying lay e the banks of Kansas City but they we hered the storm admirably. The failure of the National bank of Kansas City dive minutes before closing time Friday created a very panicky feeling and all the bankers opened their doors Saturday morning expecting "runs" of more or less consequence. The publication of he.statements of all the banks in the morning papers was calculated to restore confidence. The banks were prepared as well as could be to withstand any attack and as soon as the doors of the Bank of Commerce, the Missouri national, the Metropolitan, the Union natinal and the Midland were thrown open the people began to collect about them and many drew out their deposits. Only, however, in the Bank of Commerce, the Missouri and the Metropolitan were there any well-defined runs, and these banks withstood them successfully. A run by heavy depositors caused the suspension of the Northrup bank, the oldest financial institution in Kansas City, Kan. The assets are placed at $475,000, with liabilities amounting to $315,000. The Armourdale bank at 415 Kansas avenue, Armourdale, suspended payment at 3 o'clock in the afternoon and was placed in the hands of Bank Commissioner Breidenthal of Kansas. The liabilities are $35,000 and the assets about double that amount

4. July 22, 1893 Perrysburg Journal Perrysburg, OH

Article from Perrysburg Journal, July 22, 1893

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SORELY TRIED. . City *anks Forced to Stand y Rur - Demands Promptly Troublis *** SAS CITY, Mo., July 16.-Satu as a trying day for the banks is City but they weathered admirably. The failure of nal bank of Kansas City rive efore closing time Friday creat y panicky feeling and all rs opened their doors morning expecting ore or less consequence. cation of the statements of all $ in the morning papers was to restore confidence. The ban prepared as well as could be tand any attack and as soon ors of the Bank of Commer Missouri national, the tan, the Union national and nd were thrown open the 1 to collect about them and out their deposits. Only, in the Bank of Commerce, uri and the Metropolitan any well-defined runs, and 8 withstood them successfully. un by heavy depositors caused nsion of the Northrup bank, t financial institution in Kan. The assets are placed 00. 00, with liabilities amounting e Armourdale bank at 415 e, Armourdale, suspended at 3 o'clock in the afternoon laced in the hands of Bank oner Breidenthal of Kansas. ities are $35,000 and the t double that amount. umber of the Kansas City open until 6 o'clock, but very e depositors availed themselves opportunity to withdraw y. The banks are amply eet any further demands them, but it is thought that , is over and the excitement EVELAND. O., July 17.-A Ishpeming, Mich., says that isinger. syndicate, the largest tors in the world, are in difficu g to the depression in . Adolf Schleisinger, one organizers of the syndica the output was reduced 25 some time ago. All the in Michigan and the central is in Milwaukee. The d by the syndicate are: in Mining company, the Buff ng company, York Mining , Arogan Mining compa e Mining company and : Mining company. These ompanies, all owning mines, olidated four years ago by - Brothers, and. it is said, on t capital. It is also said the e ling. went too deeply into properties lesinger's

5. August 17, 1893 Delaware Gazette and State Journal Wilmington, DE

Article from Delaware Gazette and State Journal, August 17, 1893

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A Bank Resumes Business. United Press Dispatch by Special Wires. KANSAS CITY, Mo., Aug. 16.-The Armourdale Bank at Armourdale, which suspended business in the financial crash one month ago, has reopened its doors and resumed business.

6. August 17, 1893 The Sun New York, NY

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Suspended Banks Reopen Their Doors. KANSAS CITY. Aug. 16. - The Armourdale Bank at Armourdale. which suspended business in the financial crash in the two Kansas cities one month ago yesterday. has reopened its doors and resumed business. FORT SCOTT, Kan., Aug. 16-The First National Bank of this city. which suspended on July 18, resumed business this morning. Bank Examiner Latimer of Sedalia. who has been in charge since it closed. has issued a notice to depositors saying that the institution is in good financial condition. WASHINGTON. Aug. 16.-The First National Bank of Rico, Col., which suspended payment June 30. 1893. having complied with the conditions imposed by the Comptroller of the Currency. and its capital stock being unimpaired. has been permitted to-day to reopen its doors for business. CLEVELAND. Aug. 16.-The Cardington Banking Company. at Cardington. O., closed its doors this afternoon. Theassets approximate $100. 000 and are said to be sufficient to meet the demands of the creditors. The President of the bank. Major W. G. Beatty. was obliged to make an assignment. and the bank could not weather the trouble brought on by his embarrassment. CARROLLTON. Pa.. Aug. 16.-The banks of Johnston. Bucks county. at Ebensburg. Carrollton. and Hastings. which suspended payments until they could get more money. will open again on Monday morning.

7. August 24, 1893 The Worthington Advance Worthington, MN

Article from The Worthington Advance, August 24, 1893

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WEST AND SOUTH. MASKED men boarded a New Orleans Pacific train at Mansfield Junction, La, and relieved the passengers of their valuables. AUDITOR ACKERMAN shows in his official report that the world's fair directory up to the 1st inst. expended for construction and administration $22,182,423.92. It still. had outstanding liabilities of $1,190,462.32, besides $4,444,500 of debenture bonds. The total gate receipts to date were $3,447,037.51, and from concessions, $1, 178.546.92. THE First national bank of Fort Scott, Kan., and the Armourdale bank at Armourdale, Kan., which suspended recently, have resumed business. AT Goodland, Kan., a hailstorm wrecked several buildings and fatally injured a man named Wood and his two sons. IN St. Paul C. O. Rice & Co., dealers in carpets and wall paper, made an assignment with liabilities of $112,000. FLAMES destroyed the Tubbs hotel at East Oakland, Cal, the loss being $200,000. IN Denver the Crescent flour mills and elevator were destroyed by fire and one fireman was injured and $250,000 loss was inflicted. IN convention in Des Moines the Iowa republicans nominated Frank D. Jackson, of Des Moines, for governor: W. S. Dungan, of Chariton, for lieutenant governor; G. S. Robinson, of Storm Lake. for supreme judge; J. W, Luke, of Hampton, for railroad cómmissioner, and Henry Sabin, of Des Moines, for superintendent of public instruction. The platform approves the administration of Benjamin Harrison; favors maintaining both gold and silver as unlimited legal tender for the payment of debt, every dollar to be of equal value; opposes state bank money; says the pension system now in practice is a menace to the honor of the brave and deserving national defenders, and doclares in favor of local option.

8. August 24, 1893 Warren Sheaf Warren, MN

Article from Warren Sheaf, August 24, 1893

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WEST AND SOUTH. MASKED men boarded a New Orleans Pacific train at Mansfield Junction, La., and relieved the passengers of their valuables. AUDITOR ACKERMAN shows in his official report that the world's fair directory up to the 1st inst. expended for construction and administration $22,182,423.92. It still had outstanding liabilities of $1,190,462.32, besides $4,444,500 of debenture bonds. The total gate receipts to date were $3,447,037.51, and from concessions, $1,178,546.92. THE First national bank of Fort Scott, Kan., and the Armourdale bank at Armourdale, Kan., which suspended recently, have resumed business. AT Goodland, Kan., a hailstorm wrecked several buildings and fatally injured a man named Wood and his two sons. IN St. Paul C. O. Rice & Co., dealers in carpets and wall paper, made an assignment with liabilities of $112,000. FLAMES destroyed the Tubbs hotel at East Oakland, Cal, the loss being $200,000. IN Denver the Crescent flour mills and elevator were destroyed by fire and one fireman was injured and $250,000 loss was inflicted. IN convention in Des Moines the Iowa republicans nominated Frank D. Jackson, of Des Moines, for governor; W. S. Dungan, of Chariton, for lieutenant governor; G. S. Robinson, of Storm Lake. for supreme- judge; J. W. Luke, of Hampton, for railroad commissioner, and Henry Sabin, of Des Moines, for superintendent of public instruction. The platform approves the administration of Benjamin Harrison; favors maintaining both gold and silver as unlimited legal tender for the payment of debt, every dollar to be of equal value; opposes state bank money; says the pension system now in practice is a menace to the honor of the brave and deserving national defenders, and declares in favor of local option.