Lawrence Savings Bank - Lawrence, KS

Bank Information

Episode Type: Suspension → Closure
Bank Type: savings bank
Start Date: September 24, 1877
Location: Lawrence, Kansas (38.972, -95.235)

Metadata

Model: gpt-5-mini
Short Digest: 078beca2

Response Measures

None

Description

Article (Iola Register, 1877-09-29) reports Lawrence Savings Bank made an assignment for the benefit of its creditors and cites unavoidable and unforeseen shrinkage of property values as cause. This indicates a suspension leading to closure (assignment/insolvency), with no run mentioned.

Events (1)

1. September 24, 1877 Suspension

Cause: Bank Specific Adverse Info
Cause Details: Unavoidable and unforeseen shrinkage of property values leading to insolvency; bank made an assignment for creditors (voluntary assignment).
Newspaper Excerpt: The Lawrence Savings Bank made an assignment for the benefit of its creditors last Monday.
Source: newspapers

Newspaper Articles (1)

1. September 29, 1877 The Iola Register Iola, KS

Article from The Iola Register, September 29, 1877

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Article Text

KANSAS ITEMS. The bridge across the Neosho river at Erie will be completed this week. The office of the County Treasurer at Columbus, Cherokee County, was broken into one night last week, and several of the tax rolls stolen. At the Kansas City Exposition, the first premium for best collection of fruit was awarded to W. W. Dickinson, of Wyandotte. A giraffe, belonging to Barnum's big show, and valued at $10,000, was found dead in its cage at Leavenworth, last week. The work of repairing the dam at Lawrence has again been commenced, and this time in more substantial manner than ever before. Secretary of State Cavanaugh took four first and three second premiums, aggregating an even hundred dollars, at the Kansas City Fair, on Hereford cattle. The "Spanish fever" is prevailing among the cattle of Wilson County to an alarming extent. One farmer in Newark township has lost twenty-five head and others have lost more or less. The Lawrence Savings Bank made an assignment for the benefit of its creditors last Monday. In reference to the cause of its suspension, the Journal says that the bank "has suffered unfortunately by unavoidable and unforeseen shrinkage of property values of various kinds." Cowley County, on Thursday of last week, voted $120,000 in bonds to aid in the construction of the Kansas City and Emporia narrow gauge railroad. It is now confidently expected that the road in question will be completed as far as Eureka, Greenwood County, by the first of January next. A meeting of the State Central Committce will be held at Topeka next Tuesday for the purpose of nominating a candidate for the office of Chief Justice of the Supreme Court to fill the vacancy occasioned by the resignation of Hon. S. A. Kingman, and to transact such other business as may be deemed proper. Hon. T. B. Eldridge, banker at Coffeyville, was compelled to close his doors on Tuesday of last week. His liabilities are about $14,000. Coffeyville has been unfortunate in regard to her bankers. 1 few months ago the house of Noah Eby & Son failed, and the junior member of the firm has since been convicted of embezzlement; and now comes another suspension more serious than the first. We do not, however, hear that there is any charge of "crookedness" in Mr. Eldridge's case.