6804. Second National Bank (Leavenworth, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
1448
Charter Number
1448
Start Date
September 26, 1873
Location
Leavenworth, Kansas (39.311, -94.922)

Metadata

Model
gpt-5-mini
Short Digest
ae1db64a

Response Measures

None

Description

The Second National Bank of Leavenworth is listed among banks that 'temporarily' suspended payment during the Panic of 1873 (Clearing-House announcement, 1873-09-26). Later items (1873-12-03) describe a false rumor about suspension (telegram miswording) while affirming the bank was solvent then. A receivership notice (sale of estate) appears by 1880, indicating the bank ultimately closed and entered receivership. No article describes a depositor run specifically at this bank; the suspension appears driven by the wider 1873 financial panic (macro news) and was listed as temporary at the time, but the bank ultimately was in receivership by 1880, so I classify as a suspension leading to closure.

Events (5)

1. July 17, 1865 Chartered
Source
historical_nic
2. September 26, 1873 Suspension
Cause
Macro News
Cause Details
Temporary suspension announced as part of widespread bank suspensions during the Panic of 1873/Clearing-House arrangement; banks claimed suspension only temporary while converting assets to currency.
Newspaper Excerpt
A dispatch from Leavenworth, Kan., announces the temporary suspension of the following banks: First National, Second National, Leavenworth Savings, Clark & Co., Insley, Shire & Co., Newmans & Havens.
Source
newspapers
3. December 3, 1873 Other
Newspaper Excerpt
The Rumors in Relation to its Suspension Wholly Without Foundation. ... telegram: 'Where shall I deposit collections-Second National Depository closed.' ... The wording of this telegram conveyed a very wrong impression viz that the bank had suspended business altogether. Such however was not the fact ... the bank sent word ... that no more government funds would be received on deposit. The bank is perfectly solvent and pays all drafts and checks promptly.'
Source
newspapers
4. July 22, 1874 Voluntary Liquidation
Source
historical_nic
5. January 1, 1880 Receivership
Newspaper Excerpt
P. G. LOWE, Receiver of the estate of the Second National ... Bank. (Receiver's Notice of Sale.)
Source
newspapers

Newspaper Articles (5)

Article from Chicago Daily Tribune, September 27, 1873

Click image to open full size in new tab

Article Text

WEST. SPRINOFIELD. Tribune. Special Dispatch to The 20.- Chicago The financial all situation day, SPRINGFIELD, III., quiot Sept. run on the banks of a crowd here has there been has a been demands no appearance were promptly met was paid and at out rush though anywhere. All meant to say that than money business pur of were coveral by run each it is of only the banks made for other as usual, and at days some proceding. poses. Doposita they wore greater than 4 on o'clock, the is doors enfo of to the banks At the closing were hour, shut, freer and it than at any the banking all interested houses There breat is dread of a the run morrow on the any that during the day will not be trange earnest yet to-night If time sides. It the morning in will be the case. prodicted, banks is begins no evidence in is that but such one result still to there be is not all one its it there should come, would there all suspond, abundant! and able to Whether meet there the of them banks but what could is realize adopted on its assets by the bank to-night officers will liabilities be uncertain, any if line of though policy they night hold an a informal meeting State National, meeting is to yet exchange Mr. views. Cullom' Last course room of at action the HAVE should to pay be the with with but was demands held did as not in to until agree the possibility more upon ser a lous of especially A panic. been in connection discussed of law, made, The financial suspensi situation, of reference the banks, to has & which paragraph reads merchant, here 39 largely of the Dankrupt a banker, broker, has raudulenti and Sec. Or who manufac being facturer, has or stopped miner or suspended paper withdays trader, stopped payment payment who of his commercial comm shall be deemed further to have proin not resumed period of act fourteen of bankruptcy a bankrupt and whore on the claims peIt vides committed that hesball all or more be dindged of his petition creditors is filed is within thoug six tition shall amount of after one to the $250, act If of add the bankrupter much to the fourteen perploxity days, of months that this provision if it shall will not banks happen will be within at the will of any resuming after that time creditor the or creditors. ovil as disposed BLOOMINGTON, ILL. Tribune. Special Dispatch Ill., Sept. to The -Some Chicago morning excitement over the of finan- pre- the BLOOMINGTON here last night and the this sonsational reports the bauk vailed situation, caused by evening, & meeting of except the rulo Chicago cial Times. was hold. Last All were determined represented and to adopt to pay the giving This First Presidents National. of It other was cities, certified plan checks was same only email checks, the except balance the First will National, cont inue which to 80 pursued desired-! to-day in by full, all and declares the day it In the drew morn- their do so. paid all All was checks of niet coal-miners during department and others of The the People's leading in of ing deposits number from the savings was even threatened of confidence merchan banks of the city. Bank, ante but no have run passed There resolution is general feeling confidenco the this evening. LA SALLE, ILL. Tribune. Special Dispatch to The Operations Chicago in grain under are LASALLE, Ill., Sept. and business is nows generally from Chicago. groatly restricted owing to the financial various points accuston along the depression, Grain shippers here notified and not at to make consignees, the tends and the to our restrain chases. advanco river financial have upon news been merchants drafts from all upon parts from Chicago of making the country their usual purAURORA. feago Tribune. special plapately to The As yet money we have matters. experienced and All AUROHA, Ill., in Sept. regurd to our good. Merchants deposits and checks our no excitement banks here are perfectly make their usual con idence is oxcitizens the business are men honored. in general The in greatest regard to the solidity and propeed good-standing by of our PEOBLA, banks. ILL. advised last to night, stand the by PEORIA, Ill., Sept. last 26.-As evening panic, and agreed and, as a currency procaubankers here in met the event of not a to pay Action out is looked tionary one another measure, consideral resolved amount AS This a wise step, lock-up and no in for on any by depositors ensue generally from the The tem bank morary will resume in a trouble which business will is as placed. more currency is received. few days, as BOOLL DANVILLE, ILL. Chicago Tribune. Bank Special Dispatch 26.- to The The Exchange all deposit of J. DANVILLE & Co. Ill. while Hept. safety amply this able afternoon to pay amounts decided until the to C. refuse dollar Short for all checks dollar, subsides. on for them A for couple large of days will probananicky bly make feeling all things FOND all right DU The LAC, Chiengo WIS, Tribune. no tions Special Dispate ispatch Sept to -There are The banks Indica are farmers rangements FOND of DU financial LAO, Wis. troubles in in Northern this city. Wisconsin to hold their are strong. The all necessary are offered. wheat making until good prices GRAND RAPIDS. Tribuno, Emercant Special Dispatch Mich., The Sept. Chicago 26.- lie. No manufactur- disturbance of the pressure GRAND has RAPIDS, yet operati appeared in here. No Indications deposits in. and croased torday usual banking ing, whatever or banking on banks. On to-day the contrary, The only facilities variaIn Chicago, from checks the on refused banks payment Since thus the tion is that and other citics are order business. New York, the Detroit, the postal financial money troubles in to strength croasing beginning of the moved cautiously the siming Chicago associabanks their here position. have The surprise, action of but no alarm. reis eu ted banks caused COUNCIL some BLUFFS, 26. IOWA. Financial matters interest quiet the COUNCIL BLUFFR, here, although Sept. progrees considerable and withdrew result of their the mani main feated elsowhere. concern A lug few two of depositors our banks ticipated. to-day, One but of papio money from one was or made, or is this evening had doors ou nothing like the run close of than business when it opened its are able to boast our banks nearly at $4,000 more several other inst: of stutions public could dence. hand in the morning, of a corresponding and degree WAYNE. the FORT Sept 20.-AS alarmed yet neither with the FORT WAYNE, the people Ind. have York bren and at all other cities. demand, Our banks financial nor crisis in New deposit ouitors whatever had they happoued banks are paying going all ours Fort if nothing Wayne lianks National say Mor- they and musiness Presidents of and the First National have dollar. No all from chanta The National, paying as long nB of they uncasiness. favorable Report or undo not change favorable, 11 the least. will one shows continue parte the least of the symptoms country, the condition whether of affairs here OMAHA Tribune. Special Dispair/ the the banks Chicago in 10cates this city as are present- holded. is There demand. ing OMAHA out and Sept. pay no 26.-All Ing general checks rush and for cer money, but a steady LEAVENWORTH, KAN. Tribune. of banks Special Dispatch to Sept. The Chicago 26.-The following temporarily: LEAVENWORTH this city resolved Kan., to-day to suspend payment First National, Second National, Leavenworth Savings, Clark Co., Insley, Shire & Co., & State It Newman is expected Havens. that this the course banks as throughout a measure Good the of feeling prowill genorally themselves adopt and depositors. seeming to appreciato prova tection to among more First all and Second deposits National amountthe vernment situation. deposits The rice, are amply and hold secured by bonds. ing to $300,000, which ATOHISON he banks of this city are ATORITON, Kan., as Sept. usual, 20.- and declare they have no doing business


Article from The True Northerner, October 3, 1873

Click image to open full size in new tab

Article Text

news came that the banks of Chicago and Cincinnati had followed the example of New York. They at once yielded to the pressure. There is no apparent excitement on the streets. CHICAGO, Sept. 27.-Yesterday the financial tidal wave caused the first real damage in this city. At 10 o'clock a. m. it was announced from the Clearing-House that, on account of the extraordinary situation, no deposits would for the present be received and no checks would be paid by the following banks: Union National Bank, Cook County National Bank, Second National Bank, Manufacturers' National Bank, National Bank of Commerce. These banks all claim that their suspension is only temporary, that they have ample assets to meet all demands, and that they will resume business SO soon as they can convert those assets into currency. There is a strong belief that the crisis of the panic has been reached and passed, and that there will be no more suspensions. The mercantile classes do not seem to have been thus far affected, and have been able to meet all their obligations as they matured. Deposits are still made in all the banks. That there has been a withdrawal of currency for the purpose of hoarding it in private safes is obvious: but if the banks continue to meet the requirements of their customers a few days longer, most of this hoarded currency will come forth. The receipts of currency here by express are large. The country must have the breadstuffs and the provisions which are packed in our warehouses and stock-yards, and to get them the money must be sent here. A dispatch from Leavenworth, Kan., announces the temporary suspension of the following banks: First National, Second National, Leavenworth Savings, Clark & Co., Insley, Shire & Co., Newmans & Havens. Good feeling prevails among merchants, all seeming to appreciate the situation. CHICAGO, Sept. 29.-The two most important developments of Saturday were the suspension of the Third National Bank, and the announcement that the Cook County National, which closed on Thursday, would resumeo Monday (to-day). The suspension of the Third National, though not unlooked for in banking circles- the run on it having been heavy-created a feeling of depression in the community. The bank was the second largest in the city, its deposits amounting to about $4,000,000. It is said the institution will soon resume, as its securities are all right, and can be made available with little delay. All the banks, with the exception of those that had suspended, passed the ClearingHouse with flying colors. This fact, added to the cheerful news received from abroad. served to re-establish confidence, and renew and strengthen the spirit of moderation that has been generally manifested since the panic began ; and it came to be the accepted theory that the suspension of the Third National marked the turning-point of the crisis, that the storm had spent its fury, and the sunlight was about to break through the dark clouds. An immense volume of currency is flowing into the city. Over $4,000,000 has been received by express in the past forty-eight hours. The total assets of the Union National (familiarly known as Coolbaugh's Bank, and the largest in the city), which suspended last week, are given at $5,600,000; liabilities, $4.300,000. There is little or nothing doing at the stockyards. There is over a million dollars' worth of stock in the yards, and the pens are so full that no more can be received for the present. CINCINNATI, Sept. -Thefinancialsituation here to-day appears to be improved. At the close of business an improved feeling was plainly manifest. Sr. LOUIS, Sept. .29.-Quietnessreigns among the banks here. All are paying checks under the rule, and everybody seems cheerfully to acquiesce in the "arrangement. The feeling on Cliange was better, and prices for some articles are stiffened materially. OTHER POINTS. Detroit, Cleveland, Toledo, Milwaukee, Dubuque, Keokuk, DesMoines, and in fact every Western city and town heard from, report an improved feeling in financial circles. CHICAGO, Sept. 30.-About $4,000,000 in currency has been received in this city within the last 48 hours, making about $11,000,000 for the last five days. Three of the suspended banks have resumed. The Union National (Coolbaugh's) has gone into voluntary liquidation. Produce markets active. Wheat and corn are advancing. The storm is practically over, everything is serene, and people wonder why they allowed themselves to become so excited.


Article from The Andrew County Republican, October 10, 1873

Click image to open full size in new tab

Article Text

Cincinnati had followed the example of New York. They at once yielded to the pressure. There is no apparent excitement on the streets. CHICAGO, Sept. 27.-Yesterday the financial tidal wave caused the first real damage in this city. At 10 o'clock a. m. it was announced from the Clearing-House that, on account of the extraordinary situation. no deposits would for the present be received and no checks would be paid by the following banks: Union National Bank, Cook County National Bank, Second National Bank, Manufacturers' National Bank, National Bank of Commerce. These banks all claim that their suspension is only temporary, that they have ample assets to meet all demands, and that they will resume business 80 soon as they can convert those assets into currency. There is a strong belief that the crisis of the panic has been reached and passed, and that there will be no more suspensions. The mercantile classes do not seem to have been thus far affected, and have been able to meet all their obligations as they matured, Deposits are still made in all the banks. That there has been a withdrawal of currency for the purpose of hoarding it in private safes is obvious: but if the banks continue to meet the requirements of their customers a few days longer, most of this hoarded currency will come forth. The receipts of currency here by express are large. The country must have the breadstuffs and the provisions which are packed in our warehouses and stock-yards, and to get them the money must besent here. A dispatch from Leavenworth, Kan., announces the temporary suspension of the following banks: First National, Second National. Leavenworth Savings, Clark & Co., Insley, Shire & Co., Newman & Havens. Good feeling prevails among merchants, all seeming to appreciate the situation, CHICAGO, Sept 29.-The two most important developments of Saturday were the suspension of the Third National Bank, and the announcement that the Cook County National. which closed on Thursday, would resume on Monday (to-day). The suspension of the Third National, though not unlooked for in banking circles the run on it having been heavy-created a feeling of depression in the community. The bank was the second largest in the city, its deposits amounting to about $4,000,000. It is said the institution will soon resume, as its securities are all right, and can be made available with little delay. All the banks. with the exception of those that had suspended, passed the ClearingHouse with flying colors. This fact, added to the cheerful news received from abroad. served to re-establish confidence, and renew and strengthen the spirit of moderation that has been generally manifested since the panic began: and it came to be the accepted theory that the suspension of the Third National marked the turning-point of the crisis, that the storm had spent its fury. and the sunlight was about to break through the dark clouds. An immense volume of currency is flowing into the city. Over $4,000,000 has been received by express in the past forty-eight hours. The total assets of the Union National (familiarly known as Coolbaugh's Bank, and the largest in the city), which suspended last week. are given at $5,600,000; liabilities, 84,300,000. There is little or nothing doing at the stockyards. There is over a million dollars' worth of stock in the yards, and the pens are 80 full that no more can be received for the present. CINCINNATI, Sept. 29. The financial situation here to-day appears to be improved. At the close of business an improved feeling was plainly manifest. ST. LOUIS, Sept. 29. Quietness reigns among the banks here. All are paying checks under the rule. and everybody seems cheerfully to acquiesce in the arrangement. The feeling on "Change was better. and prices for some articles are stiffened materially. OTHER POINTS. Detroit, Cleveland, Toledo, Milwaukee, Dubuque. Keokuk, DesMoines, and in fact every Western city and town heard from, reports an improved feeling in financial circles. CHICAGO. Sept. 0.-About $4,000,000 in curreney has been received in this city within the last 48 hours. making about $10,000,000 for the last five days. Three of the suspended banks have resumed. The Union National (Coolbaugh's) has gone into voluntary liquidation. Produce markets active. Wheat and eorn are advancing. The storm is practically over, everything is serene, and people wonder why they allowed themselves to become 80 excited.


Article from The Leavenworth Weekly Times, December 18, 1873

Click image to open full size in new tab

Article Text

SECOND NATIONAL BANK. The Rumors in Relation to its Suspension Wholly With out Foundation. For some time past there has been a rumor afloat to the effect that the Second National bank of this city had suspended payment, and that its affairs were "in a most critical condition. The rumor is wholly without foundation and originated in the following clumsy telegram sent by Geo. T. Anthony, revenue collector for Kansas, to the Secretary of the Treasury. LEAVENWORTH, Dec. 3d, 1873. Searetary of Treasury, Washington, D. C. Where shall I deposit collections-Second National Depository closed. GEO. T. ANTHONY, Collector. The wording of this telegram conveyed a very wrong impression viz that the bank had suspended business altogether. Such however was not the fact, on the morning of the 3d of December, the bank sent word to the Collector, that no more government funds would be received on deposit. The reason for this action can be told in a very few words. The business was not in the least profitable. In order to do business with the government the bank was required to deposit $125,000 in bonds as security. These bonds were worth at least $135,000. At no time did the U. S. have on deposit with the bank more than $100,000. As will readily appear $37,000 was the excess given in security agains: a much smaller deposit. This $37,000 the Bank thought it could use to better advantage and so gave notice that deposits from the Government would no longer be received. The bank is perfectly solvent and pays all drafts and checks promptly. Mr. Anthony has written the following letter in relation to the breeze raised by his telegram. U. S. Internal Revenue , Collector's Office, District of Kanaas. LEAVENWORTH, Dec, 9, 1873 FIR :-This office was notified by you on the 3rd of December, that your bank had ceased to be a Government Depository, and that deposits on Government account, would no longer be received. The following telegram was thereupon sent to the Hon. Secretary of the Treasury : " Where shall I deposit collections. Second National Bank Depository closed." There was no thought of conveying more than is clearly expressed to-wit : That as a depository, you had closed. That your bank was open, and that you paid all checks whether of Government or individuale, I have never doubted, much less intend to convey a different statement. Respectfully, GEO. T. ANTHONY, Collector. WM. P. BORLAND, President 2nd National Bank.


Article from The Leavenworth Weekly Times, January 1, 1880

Click image to open full size in new tab

Article Text

Receiver's Notice of Sale. UBLIC NOTICE is hereby given that I P offer for sale, at private sale, the follow. ing described lands, situated in the county of Leavenworth, namely : The southwest quarter of section 33, town 11, of range 22; the northwest quarter of Sec= tion 4 and the northeast quarter of section 5, both in township 12,of range 22, known as the Mound farm. The first mentioned quars ter section is in cultivation, good house and other buildings thereon, and all three of the quarters are fenced. The southeast quarter of section 13, town 11 of range 22. The northwest quarter of section 14, town 11, of range 22 The northwest quarter of section 8, town 12, of range 22. The last three unimproved. Said lands are free from all incumbrances and title good. Apply to me at my office at the court house. P. G. LOWE, Receiver of the estate of the Second National did&w Bank.