6910. Harvey County State Bank (Newton, KS)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
January 1, 1885
Location
Newton, Kansas (38.047, -97.345)

Metadata

Model
gpt-5-mini
Short Digest
5e824b24

Response Measures

None

Description

Bank suspended Jan 1, 1885 due to problems with its New York correspondent (protested drafts / alleged misapplication of funds by correspondent). The bank secured funds and resumed business within a few days (reports Jan 2–3). No depositor run is reported in the articles.

Events (2)

1. January 1, 1885 Suspension
Cause
Correspondent
Cause Details
Protesting of New York drafts and claimed misapplication/seizure of funds by the New York correspondent (Chase National), causing temporary suspension.
Newspaper Excerpt
The Harvey County Bank, the oldest bank in this section, suspended yesterday, owing, it is claimed, to a misappropriation of funds by their New York correspondent.
Source
newspapers
2. January 2, 1885 Reopening
Newspaper Excerpt
President Schmidt ... states that business will be resumed to-morrow, funds having been secured to pay all deposits. The suspension was occasioned by the protesting of drafts in New York, owing to a misunderstanding with the bank's correspondent there.
Source
newspapers

Newspaper Articles (10)

Article from Savannah Morning News, January 2, 1885

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Article Text

MERCANTILE REVERSES. Mincing Lane Merchants and Commission Agents Fail in Business. LONDON, Jan. 2.-Cosmetto Bros., merchants and general commission agents in Mincing Lane, London, have failed. RUINED BY THEIR CORRESPONDENT. NEWTON, KAN., Jan. 1.-The Harvey County Bank, the oldest bank in this section, suspended yesterday, owing, it is claimed, to a misappropriation of funds by their New York correspondent. The assets will more than pay the liabilities.


Article from New-York Tribune, January 2, 1885

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Article Text

TRADE AND LABOR NOTES. TRENTON, Jan. 1.-Thisafternoon the opers ive potters held a mass meeting at Turner Hall, and is was unanimously resolved to resist any reduction of wages. There 18 a determination to strike if the reduction is insisted upon. A committee of three from each pottery was appointed to wait upon the Manufacturers' Association on Monday evening. and another mass meet. ing will be held ou Tuesday morning to receive the report. MILWAUKEE, Jan. -The entire iron works at Bay, View will be put in operation next Monday, and, with the exception of a few days now and then when repairs are being made, will be kept going steadily, with the possible exception of the puddling department. NEWTON, Kan., Jan. 1.-The Harvey County Bank, the oldest bank in this region, suspended yesterday, owing it is claimed, to a misapplication of funds by their New York correspondent. The assets will more than pay the liabilities. LANCASTER, Jan. 1.-The Fulton Cotton Mill, of this city, owned and operated by Georgo Calder, started up this morning after an idleness of two years. The working force will be largely increased as soon as enough hands can be secured. BOSTON, Jan. 1.-A meeting of the creditors of John Milliken & Co., oil dealers, was held to-day, but no offer of settlement was made. The liabilities are $20,002. Nominal assets $2.180. BOSTON, Jan. 1.-The employes of the Roxbury Carpet Factory, at Roxbury, Mass., 700 in number, struck this morning against a general reduction in wages ranging from 5 to 15 per cent. MEMPHIS, Jan. 1.-D.,L. Murrell & Co., dealers in dry goods, at Jackson, Tenn., assigned last night. Liabilities $12,000; assets, nominally, $6,000.


Article from Richmond Dispatch, January 2, 1885

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Article Text

Blank. NEWTON, KAN., January 1.-The Harvey-County Bank, the oldest book in this section, suspended yesterday, owing, it is claimed. to the misapplicatien of funds by their New York correspondent. The assets will more than pay the liabilities.


Article from The Indianapolis Journal, January 3, 1885

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Article Text

A Bank Resumes Business. NEWTON, Kan. Jan. 2:-President Schmidt, of the Harvey County Bank, which suspended two days ago, states that business. will be resumed to-morrow, funds having been secured to pay all deposits. The suspension was occasioned by the protesting of drafts in New York, owing to a misunderstanding with the bank's correspondent there.


Article from Wichita Daily Eagle, January 3, 1885

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Article Text

Will Resume. TOPEKA, Kas., Jan. 2.-Mr. Schmidt, the president of the Harvey County bank, at Newton, Kas., whose suspension was announced two days ago, is a resident of this city, and informs a reporter that its doors will be opened to-morrow morning, enough currency having been secured to pay every dollar of deposits. The suspension was occasioned because of New York drafts coming back protested, there being a misunderstanding between the bank and its New York correspondent.


Article from The Emporia Weekly News, January 8, 1885

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Article Text

Harvey County Bank NEWTON, Kai, Jsa. 3.-The special dispate b fr m New York to a Kansas City paper, in regard to temporary suspension of the Harvey County bank is far from the truth. The note for $10,000 with the Chase Natio nal bank of New York was secured by $20,000 of New on waterworks bonds. The suspension of the bank came from the arbitrary action ofthe Chase [National in seizing upon and misapplying 80 large a sum of its cash when amply secured by good bonds. Your corresponde nt has examined the letters and telegrams in the place and knows what he says to be true. At a meeting of the creditors of the bank here to-day the following resolution Was un animously adopted: Resolved, That we, the creditors of the Harvey County bank, having tull knowl. edge of the financial soundness of the bank and reposing full confidence in its officers, request the said bank to resume its business without unnecessary delay, and in 80 doing we pledge our support, confidence and sympathy.


Article from Weekly Phoenix Herald, January 8, 1885

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Article Text

WILL RESUME. NEWTON, Kas., Jan. 6.-President Schmidt, of the Harvey County bank, which suspeneed two days ago, states that business will be resumed to-day, funds having been secured to pay all the depositors. The suspension was occasioned-by the protesting of drafts in New York, owing to a misunderstanding with the bank's correspondent there.


Article from Wood County Reporter, January 8, 1885

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Article Text

LATEST TELEGRAMS. GENERAL NOTES. THE excess of the assets of the United States treasury over demand liabilities exceeds $137,000,000. No bond call will, however, be made at present. PENROSE D. GOOD, men's clothing and furnishiags, at Monmouth, Ill., has failed, with $20,000 liabilities. Henry S. Hopkins & Co., bridge-builders at St. Louis have assigned, their assets reaching $88,000. THE Harvey County Bank. at Newton, Kas., suspended on Wednesday. It is claimed by the officers that they have assests of $90,000 in excess of their liabilities. It is thought business will be resumed in a few days. REPORTS received at Bozeman, M.T., are to the effect that cattle are starving to death in the Madison and Yellowstone regions. The snow is two feet deep on the level, making it impossible for the animals to get at the grass. PRELIMINARY surveys have been made looking to the construction of an iron bridge across the Mississippi river, between North McGregor, Iowa, and Prairie du Chien, Wis. The bridge, if built, will be nearly a mile long. and will be part of the St. Paul Railway system. IN August last Dr. George H. Atkinson, a Booklyn physician, was scratched on the hand by a patient, who was undergoing an operation for an infectious disease. A month ago the doctor began to suffer seriously, and in two weeks became paralyzed, and now lies at the point of death. It is one of the most singular cases of blood poisoning known to the medical fraternity.


Article from Mineral Point Tribune, January 8, 1885

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Article Text

LATEST TELEGRAMS. GENERAL NOTES, THE excess of the assets of the United States treasury over demand liabilities exceeds $137,000,000. No bond call will, however, be made at present. PENROSE D. GOOD, men's clothing and furnishings, at Monmouth, III., has failed, with $20,000 liabilities. Henry S. Hopkins & Co., bridge-builders at St. Louis have assigned, their assets reaching $88,000. THE Harvey County Bank. at Newton, Kas, suspended on Wednesday. It is claimed by the officers that they have assests of $90,000 in excess of their liabilities. It is thought business will be resumed in a few days. REPORTS received at Bozeman, M. T., are to the effect that cattle are starving to death in the Madison and Yellowstone regions. The snew is two feet deep on the level, making it impossible for the animals to get at the grass. PRELIMINARY surveys have been made looking to the construction of an iron bridge across the Mississippi river. between North McGregor, Iowa, and Prairie du Chien, Wis. The bridge, if built, will be nearly a mile long. and will be part of the St. Paul Railway system. IN August last Dr. George H. Atkinson, a Booklyn physician, was scratched on the hand by a patient, who was undergoing an operation for an infectious disease. A month ago the doctor began to suffer seriously, and in two weeks became paralyzed, and now lies at the point of death. It is one of the most singular cases of blood poisoning known to the medical fraternity.


Article from Phillipsburg Herald, February 14, 1885

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Article Text

some blueing for ink and a crochet needle for a pen. The strips were fastened to a hook in the ceiling and standing on a chair she swung herself offand strangled without waking up her husband who was within a few feet of her. The writing left was 80 blurred it could not he made out. Continued sickness is the supposed cause of her action. Burlington Indpendent: Friday last Hiram Hathaway was arrested for poisoning a family by the name of McConnell, residing east of Le Roy one mile. For years young Hathaway has shown signs of insanity, and at various times has engaged in devilish work -burning haystacks, etc. His last act in this line was putting "Rough on Rats," a deadly poison, in various articles of food, which came very near sending five innocent souls to untimely graves. Monday he was taken.before: Probate Judge Brown and declared insane, and will be sent to the Topeka Asylum, where he belongs. The Harvey County Bank, of Newton, Kansas, which suspended on December 31st, resumed business on Monday last, prepared to meet every possible demand. The fact that the old patrons deposited nearly $15,000 in currency during the day, and that the day depositsexceeded the checks by several thousand dollars, goes to show that the bank's temporary embarrassment has not shaken the confidence of the community in the institution. Fort Scott Herald: party of young folks of this city went to a dance in the country last night. The host took them out, but having toyed with the tarantula juice while in town, reached the scene of the festivities in rather a paraly condition. The young folks debated the propriety of going into the house while the host was in such a condition, when he gave them the choice of dancing or walking home. They danced. Wa-Keeney World: A man named G. Baker has been stopping at the Union House several weeks. Just before New Year's his feet were frozen while he was on the way from some point in Southern Nebraska to his ranch in Wallace county, Kansas. The skin and flesh have sloughed off his feet from the the ends to the insteps. It is said that amputation of most of the, toes if not both feet, will be necessary. Chetopa Advance: Died, at theresidence of her son-in-law, D. Bluejacket, Mrs. Betsy Silverheel, after ashort illness, of pneumonia and typhoid fever. She bore her siekness with the fortitude of a Christian and with the hope of a happy hereafter. She was between 80 and 90 years old, and was, at the time of her death, the oldest Indian in the Shawnee tribe. Jacob Stotler, editor of the Sumner County Press, has consented to donate to the State Historical Society the gavel which he used when Speaker of the Kansas House of Representatives, twenty years ago. He also consented to read before that society a paper, giving a sketch of the doings of the session, as he recollects them. The boys in the neighborhood of Belvoir, had an old-fashioned fox-chase last week, and captured the fox after a run, from one to five o'clock p. m. The hounds started the fox on Coon Creek, and run it to cover in Derby's bottom, on the Wakarusa. A tramp working for his board at the Junction House in Emporia, got away with $70 worth of new clothes and some money belonging to the proprietor's son last Saturday morning and skipped for parts unknown. Wyman Jenkins, a Missouri Pacific yardman, was instantly killed at Hiawatha on the night of the 30th. His head was cut from his body as clean as if he had been beheaded with a guillotine. No saloons are allowed to operate within seven miles of the town of Ashland. The cowboys are peaceable enough when sober, but when drinking nothing short of blood seems to satisfy them. The LeRoy Reporter says that Jay Gould's new railroad line from Kansas City by way of Paoia and LeRoy will be about the same length as the Santa Fe line by way of Topeka and Emporia. Hebe Taylor, a gambler and saloon keeper of Atchison, furnished stone for the foundation of a Baptist Church some time ago, and is now offering forty acres of land for a public park. John T. Shoemaker has resigned the office of Postmaster of Muscotah and returned to his farm. His successor in office is H. H. Moore, a Democrat, who is commissioned for four years. The Argus and News, both Republican papers, of Yates Center, have been consolidated, and the new firm is Geo. E. Faler & Co. The News' flag will still float. T. Farmer and S. Hawkins were hunting down in the Indian Territory just two weeks, when they returned home with fifty deer and thirty wild turkeys. Grace Beeman, a ninteen year old young lady of committed suicide by shooting herself. Republic City desires to be a city in law as well as in name. Wichita has had two suicides in the last week. Allen county is going to have a grand jury. Wyandotte claims & population of 12,000. Victor Napoleon's Diplomacy. Brooklyn Eagle.