First National Bank - Newton, KS

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 2777
Charter Number: 2777
Start Date: December 30, 1907
Location: Newton, Kansas (38.047, -97.345)

Metadata

Model: gpt-5-mini
Short Digest: ed6e9dfd

Response Measures

No run, Books examined

Other: Bankers examined and destroyed clearing-house scrip ($800-900 remaining) after verifying signatures; indicates end of local panic.

Description

Article describes clearing-house scrip issued and cashed during the December 1907 panic; Midland National participated in cashing scrip and there is no mention of a suspension or closing of the bank. This appears to be part of the broader 1907 panic (macro shock).

Events (2)

1. September 20, 1882 Chartered

Source: historical_nic

2. December 30, 1907 Run

Cause: Macro News
Cause Details: Withdrawals and clearing-house scrip issuance occurred as part of the broader 1907 panic; Newton banks cashed $51,000 worth of scrip.
Measures: Newton Clearing House issued promissory 'script' (scrip) to meet withdrawals; banks later destroyed outstanding scrip.
Newspaper Excerpt: The days of the 'script' put out by the Newton Clearing house are over...It was found that $51,000 worth had been taken in and that there is between $800 and $900 worth of the promissory paper which has not yet been presented for payment.
Source: newspapers

Newspaper Articles (1)

1. December 30, 1907 The Topeka State Journal Topeka, KS

Article from The Topeka State Journal, December 30, 1907

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Article Text

THEY BURNED THE SCRIPT. Newton Bankers Decide the "Panic" Is Over. Newton, Kan., Dec. 30.-The days of the 'script" put out by the Newton Clearing house are over, or will be as soon as some $800 worth can be found and purchased. Saturday W. J. Trousdale and H. E. Suderman, of the Midland National bank, S. Lehman and D. McGowan of the First National, and B. Warkentin and Harry Johnston, of the Kansan State bank met at the county treasurer's office and "checked up" the script which had been cashed in by their banks. It was found that $51,000 worth had been taken in and that there is between $800 and $900 worth of the promissory paper which has not yet been presented for payment. From examination of the three signatures on the certificates it was found that none of the paper had been forged and It was accordingly decided to then and there consign the paper to the flames which they did.