6914. Newton Bank (Newton, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 21, 1890
Location
Newton, Kansas (38.047, -97.345)

Metadata

Model
gpt-5-mini
Short Digest
fbfd79c0

Response Measures

None

Description

Contemporary reports (Nov 21, 1890) state the Newton bank 'failed yesterday' and was 'taken possession of by the federal bank authorities.' No article describes a depositor run on Newton itself; the trouble is part of a syndicate collapse (Guthrie failure) and withdrawal of support by Kansas City banks. Thus the bank suspended/failed and was taken into custody / closed (receivership).

Events (2)
1. November 21, 1890 Receivership
Newspaper Excerpt
The Newton bank was taken possession of by the federal bank authorities. The Newton bank failed yesterday.
Source
newspapers
2. November 21, 1890 Suspension
Cause
Correspondent
Cause Details
Withdrawal of support by Kansas City banks after the failure of the Guthrie bank in the same syndicate; led to Newton being taken possession of by federal authorities.
Newspaper Excerpt
The Newton bank failed yesterday. Yesterday the Newton bank was taken possession of by the federal bank authorities.
Source
newspapers

Newspaper Articles (8)
1. November 22, 1890 The Helena Independent Helena, MT
Article from The Helena Independent, November 22, 1890

Click image to open full size in new tab

Article Text

THE CRASR OF BANKS. Several Concerns Owned by One Company Go Under. GUTARIE, Oklahoma, Nov. 21.-The Commercial bank, the largest in the terrirory, failed to-day. The bank belongs to n syndicate which practically controls banks in Newton, Kas., Normal, El Reno. Stillwater and Whitewater. The Newton bank failed yesterday. To-day the Guthrie bank suspended and the Whitewater concern in now in the hands of a receiver. Nothing has, been heard from the El Renc, Normal or Stillwater banks. The Guthrie bank's CAPital was $300,000. the Nowton's $100,000, and the others about the same. It is believed bere that the assets are equal to the liabilities.

2. November 22, 1890 Los Angeles Herald Los Angeles, CA
Article from Los Angeles Herald, November 22, 1890

Click image to open full size in new tab

Article Text

A Failure in Oklahoma. GUTHRIE, O. T., Nov. 21.-The Commercial bank, the largest in the territory, has failed. Assets and liabilities unknown. The Guthrie bank belongs to a syndicate, which practically controls banks in Newton, Kan.; Normal, El Reno, Stillwater and Whitewater. The Newton bank failed yesterday. Today the Guthrie bank suspended, and the Whitewater concern is in the hands of the examiner. Nothing has been heard from the El Reno, Normal or Stillwater banks. The Guthrie bank's capital was $300,000; the Newton's, $100,000, and the others about the same. It is believed here that the assets are equal to the liabilities.

3. November 22, 1890 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, November 22, 1890

Click image to open full size in new tab

Article Text

A Syndicate of Banks Failing. GUTHRIE, O. T., Nov. 21.-The Guthrie bank belongs to a syndicate which practically controls the banks in Newton, Kansas, Normal, Elenro, Stillwater and Whitewater. The Newton bank failed yesterday. To-day the Guthrie bank suspended and the Whitewater concern is now in the hands of an examiner. Nothing has been heard from the Elenro, Normal, or Stillwater banks. Guthrie bank's capital was $300,000, Newton's $100,000 and others about the same. It is believed here that the assets: are equal to liabilities.

4. November 22, 1890 The Morning News Savannah, GA
Article from The Morning News, November 22, 1890

Click image to open full size in new tab

Article Text

branch at Whitewater, Butler county, Kansas. About two months ago a run was made on the Guthrie bank, but the Newton bank went to the rescue with a special train, carrying funds, and met all claims presented. Since that time the credit of the whole group of banks has been more or less impaired. The Kansas City banks became alarmed at their condition and withdrew their support. Yesterday the Newton bank was taken possession of by the federal bank authorities. To-day the Guthrie bank suspended and its doors are closed, and the Whitewater concern is in the hands of an examiner. Nothing has been heard from the Elreno, Norman and Stillwater banks,

5. November 22, 1890 The Morning Call San Francisco, CA
Article from The Morning Call, November 22, 1890

Click image to open full size in new tab

Article Text

BANK FAILURES. Wharion Barker Said to Be Solvent-A Guthrie Concern Closed. PHILADELPHIA, Nov. 21.-Barker Bros. & Co.'s banking-house was open this morning, although no business was done. No statement of the firm's condition has yet been made. The Investment Company, of which Wharton Barker is a director, is perfectly solvent, it is asserted. NEW YORK, Nov. 21.-Kiernan's News Agency says that Barker Bros. had no interest whatever in the bonds or stock of the San Antonio and Arkansas Pass Company, and the firm does not owe them one dollar, nor ever had any transactions with them. THE CITIZENS' BANK. The run on the Citizens' Savings Bank continues in full force. The Directors met this morning and decided not tc take advantage of the ninety days' rule, but to pay depositors as far as possible. FOURTH NATIONAL BANK. The Board of Directors of the Fourth National Bank to-day adopted resolutions setting forth the facts of the present financial stringency and stating that during the present month that bank has had $3,285,000 commercial paper fall due, all of which has been promptly met at maturity, showing it to be in a prosperous condition: that the stringency in the money market has almost stopped the purchase of commercial bills and deprived the mercantile community of its accustomed facilities, and authorizing the officers of the bank to buy freely first-class commercial paper and take out it necessary a liberal amount of clearing-housecertificates for that purpose. THE RUN CONTINUES. NEWARK (N.J.), Nov. 21.-The run on the Howard Savings Bank continues, but it is not as heavy as it was yesterday. BARING BROS. WILL CONTINUE. LONDON, Nov. 21.-It is officially announced that arrangements for continuing the business of Baring Bros. have been concluded. A limited company has been formed with a subscribed capital exceeding £1,000,000. Thomas Baring, M. P., becomes Chairman of the company and devotes the whole of his fortune to the firm's credit. A GUTHRIE FAILURE. GUTHRIE, Nov. 21. - The Commercial Bank, the largest in the Territory, has failed. The assets and liabilities are unknown. The Guthrie Bank belongs to a syndicate which practically controls banks in Newton, Kans., Normal, El Reno, Stillwater and Whitewater. The Newton Bank failed yesterday. To-day the Guthrie Bank suspended and the Whitewater concern is now in the hands of an examiner. Nothing has been heard from the El Reno, Normal or Stillwater banks. The Guthrie Bank's capital was $300,000, Newton's $100,000 and the others about the same. It is believed here that the assets are equal to the liabilities.

6. November 22, 1890 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, November 22, 1890

Click image to open full size in new tab

Article Text

An Oklahoma Bank Fails. GUTHRIE, Oklahoma, Nov. 21.-The Commercial bank, the largest in the territory, has failed. Assets and liabilities unknown. The Guthrie bank belongs to a syndicate which practically controls the banks in Newton, Kansas, Normal. El Reno, Stillwater and Whitewater. The Newton bank failed yesterdag, Te-day the Guthrie bank suspended, and the Whitewater concern is now in the hards of the examiner. Nothing has been learned from the El Reno, Normal or Stillwater banks. The Guthrie bank's capital was $300,000; Newton, $100,000, and the others about the same. It is believed here that the assets are equal to the liabilities.

7. November 27, 1890 Spokane Falls Review Spokane, Spokane Falls, WA
Article from Spokane Falls Review, November 27, 1890

Click image to open full size in new tab

Article Text

BANK SYNDICATE IN TROUBLE. One Fails, Another Suspends and a Third in Care of a Receiver. GUTHRIE, I. T., Nov. 21.-The Guthrie bank belongs to a synditate which practically controls banks in Newton, Kan., Normal, Elreno, Stillwater and Whitewater. The Newton bank failed yesterday. To-day the Guthrie bank suspended, and the Whitewater concern is now in the hands of a receiver. Nothing has been heard from the Elreno, Normal or Stilwater banks. The Guthrie bank's capital was $300,000, Newton's $100,000 and others about the same. It is believed here that the assets are equal to the liabilities.

8. December 17, 1890 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, December 17, 1890

Click image to open full size in new tab

Article Text

SUNFLOWER SHIMMER. Senator Plumb thinks Senator Ingalls will be re-elected. John Davis is perfectly dry behind the ears. He is 65 years of age. Congressman Peters lost what money he had by the failure of the Newton bank. Henry Inman, the Indian story-teller is going to start a magazine at Kansas City. If the Alliance is to remain a secret society, it wants to muffle Gen. Rice's voice. Charles Robinson can withdraw from politics more effectively than any other man in Kansas. There is talk of something for Lew Hanback, besides being the husband of a world's fair lady commissioner. Nothing would please Jerry Simpson more than to run against a man who has a habit of wearing two overcoats. Senator Plumb never killed a superanuated Indian chief, but his chances for the presidency are better than Gen. Miles'. "Who is this new man, Tiddledy Winks, I hear so much about?" asked a man yesterday, "and does he want to succeed Ingalls?" Jim Legate is in the state. Like the rest of the state politicians, Legate got into "deep water" but, unlike them, was put on a salary. There is a rumor that the inaugural ball at Topeka, next month, will have a cornstalk fiddle and pumpkin-stem fife for an orchestra. It has come to such a pass that almost any Kansas man would consider it a poor Christmas gift to be mentioned for the United States senate. The State Journal thinks it is a good thing that the figure on the state capitol is to be a woman. That if it were that of a man it would probably fall off. All the Kansas men who have been mentioned for Ingalls' place ought to be classified under the general heading of "success." "Nothing succeeds like success." The last blast that the Topeka Democrat fired into Governor Humphrey occurred about a week before Young Holliday was appointed world's fair commissioner. "I always hankered after a public life more or less," Jerry Simpson said, recently, "but I'll be danged if I thought my feet would rescue me from oblivion." Luther Challis, the editor of the Atchison Champion does not have to take cordwood on subscription. He pays $16,000 taxes on his Atchison property alone. If President Harrison should veto Plumb's free coinage bill, the most popular thing for Tom Ryan to do would be to throw up his Mexican ministry in disgust. An Alliance organ thinks the only danger of Senator Ingalls' re-election lies with the Democrats. There is nothing particularly encouraging about a statement like this. A Larned man accomplished the feat of eating twenty-one quarts of pop corn in four hours, and now challenges any man in the state to a contest for money, marbles or chalk. A Washington county man played a very sharp trick upon a neighbor last week. He stole a whole herd of cattle, 150 head, sold them, pocketed the money, and then committed suicide. His victim has been unable to think of any way of getting even and is very much disgusted.