6916. Newton National Bank (Newton, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
3297
Charter Number
3297
Start Date
November 21, 1890
Location
Newton, Kansas (38.047, -97.345)

Metadata

Model
gpt-5-mini
Short Digest
3364f241

Response Measures

None

Description

Articles report the Newton National Bank closed its doors Dec 15, 1892, posting 'Bank closed; in the hands of the government.' A receiver (John Watts) was appointed by the Comptroller in mid-January 1893. There is no explicit contemporaneous description of a depositor run (no crowds or heavy withdrawals described); the closure appears driven by the bank's funds giving out and prior insolvency issues. Also noted: prior failure Nov 21, 1890 and reopening July 1891. Receivership wound up by 1896.

Events (5)

1. November 21, 1890 Other
Newspaper Excerpt
The bank closed November 21, 1890, in a failure involving banks at Guthrie, Whitewater, and other places.
Source
newspapers
2. July 1, 1891* Other
Newspaper Excerpt
In July, 1891, it reopened under an agreement with the old depositors.
Source
newspapers
3. December 15, 1892 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Officers said 'funds gave out' and bank voluntarily closed; prior failures and liabilities indicate bank-specific insolvency.
Newspaper Excerpt
The Newton National bank closed its doors at 11:30 o'clock this morning, posting upon them the notice 'Bank closed; in the hands of the government.' The only information concerning the matter is that the funds gave out and the officers voluntarily closed the bank.
Source
newspapers
4. January 17, 1893 Receivership
Newspaper Excerpt
The controller of the currency has appointed John Wetts of Kansas receiver of the Newton National Bank of Newton, Kan.
Source
newspapers
5. August 22, 1896 Other
Newspaper Excerpt
The receivership of the old Newton National bank, which failed in December, 1892, is being wound up by the present receiver, John Watts, upon the order of the comptroller of the currency.
Source
newspapers

Newspaper Articles (8)

Article from The Morning Call, December 16, 1892

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CLOSED ITS DOORS. A National Bank Runs Short of Cash Unexpectedly. NEWTON. Kans., Dec. 15.-The Newton National Bank closed its doors at 11:50 this morning, posting the notice "Bank closed, in the hands of the Government." The officers live in this city, but would see no one. The only information secured concerning the matter is that the funds gave out and the officers voluntarily closed the bank. The bank closed November 21, 1890, in a failure involving banks at Guthrie, Whitewater, and other places. In July, 1891, it reopened under an agreement with the old depositors.


Article from The Seattle Post-Intelligencer, December 16, 1892

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A Kansas Bank Suspends. NEWTON, Kan., Dec. 15.- The Newton National bank closed its doors at 11:30 o'clock this morning, posting upon them the notice "Bank closed; in the hands of the government." The officers are in this city, but will see no one. The only information concerning the matter is that the funds gave out and the officers voluntarily closed the bank. The bank was closed November 21, 1890, in n failure involving banks at Guthrie, Whitewaterand other places. In July, 1891, it reopened under an agreement with the old depositors.


Article from The Enterprise, December 21, 1892

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# THE WORLD'S FAIR THE World's Fair committee on ceremonies have decided to invite Grover Cleveland to open the fair with a speech on May 1, 1893. At the close of the speech, if he accepts, Mr. Cleveland will touch an electric button, starting the 14,000 horse power plant in machinery hall that is to run all the whirring wheels of the fair. # THE INMAN COAL MINE THE Inman coal mine at the foot of Cumberland mountain, near Jasper, Tenn., caved in on the 13th. The entire side of the hill fell over the only entrance to the mine, shutting off all egress. Two convict guards are believed to be entombed in the mine. # JOHN D. ROCKEFELLER JOHN D. ROCKEFELLER, the Standard Oil millionaire, has donated $25,000 toward making a fund of $65,000 for additional endowment of the Des Moines (Ia.) college. This makes a total of over $40,000 that Mr. Rockefeller has given to the college. THE president on the 14th appointed Jed Lake, of Independence, Ia.; Arthur Smith, of Colerain, Mass, and Arthur P. Swineham, of Princeton, Ind., a committee to appraise certain lands and improvements within the Round Valley Indian reservation in California. # THE DEIS FURUITURE COMPANY THE Deis Furuiture Company's factory at New Alexandria, Va., was burned on the night of the 15th. Loss, $110,000; insurance, $35,000. THE senate on the 15th confirmed the nomination of James W. McDill, of Iowa, to be an inter-siate commerce commissioner and a large number of army and navy and marine corps promotions. # THE CONTRACT THE contract for an equestrian statue of Gen. W. S. Hancock, to be erected on the battlefield of Gettysburg, has been awarded to F. E. Elwell, of Sandwich, Mass., for which he will receive $22,000. AT Newton, Kan., the Newton National bank closed its doors on the 15th, posting upon the door the notice: "Bank closed-in the hands of the government." AT the meeting of the directors of the Manhattan Elevated Railway Company in New York on the 15th, George Gould was elected president. The position of vice president and director was left vacant. A quarterly dividend of 1¼ per cent. was declared payable January 3. AT Phœnixville, Pa., a 10 per cent. reduction has been ordered by the Phoenix Iron Company in all the mills and shops of the plant except the puddling mill, where wages have been reduced from $3.25 to $3 per ton. The reduction is to take effect December 26. Common laborers will hereafter receive 95 cents instead of $1.02 per day. The reason given is depression in business. AT Alpena, Mich., on the 16th August Grossman was found guilty of murder in the first degree in having caused the death of Albert Molitor. The jury was out seven hours. Molitor was murdered eighteen years ago, but the case was dropped until recently, when William Repke, the leader of the conspiracy, confessed and implicated about a dozen others. AT Wellington, O., on the 16th Rev. John Arnold was arrested on the charge of having murdered his wife, by stabbing her in the throat with a pen knife. BUSINESS failures during the seven days ended December 16, number for the United States 279, Canada 25; total 304 as compared with 297 the previous week and 235 for the corresponding week of last year. AT Chicago, on the 16th, state warrants were sworn out for the arrest of the officers, judges, starter and maker of books at the Hawthorne race track. The complaint was made by prominent citizens of Oak Park, a suburb of Chicago. NELSON F. EVANS, who was convicted of misapplying the funds of the Spring Garden National bank, of which he was a director, was sentenced at Philadelphia on the 16th by Judge Butler to pay a fine of $300 and serve five years in the penitentiary. AT New Haven, Conn., on the 16th, the fine of $100, the extreme penalty of the law, was inflicted by Judge Pickett upon James A. McCrea, of Pittsburgh, and M. Wyrehause, of St. Paul, Minn., Yale students who were charged with breach of the peace on December 1. They raised a row in the opera house which caused the suit. AT Buffalo, N. Y., on the 16th the electric station of the General Electric Company was gutted by fire and much of the valuable machinery was ruined. The fire was cause by electricity. Loss about $50,000; fully covered by insurance. THE annual dinner of the New England Tariff Reform League was held at the American House, Boston, on the 16th. President Henry L. Pierce was presiding officer. The speakers were Hon. Charles S. Fairchild, secretary of the treasury under Cleveland, Harvey M. Shepard, Josiah Quincy and William B. Rice. A FURTHER advance of five cents a gallon on the price of spirits was ordered by the whisky trust to take effect December 15. It is anticipated the price will be sent up to $1.50 a gallon. # THE MICHIGAN GRANGERS THE Michigan grangers, who have been holding a convention at Lansing, adopted resolutions protesting against the free coinage of either gold or silver. WALTER GURNEA, a Chicago post office clerk, was arrested on the 16th for stealing letters from unbroken packages. When arrested he had in his possession drafts, checks, railroad tickets, jewelry, money orders, postal notes, etc. One draft was for $11,000. He was caught in the act of rifling letters.


Article from The Goodland Republic, December 23, 1892

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Abbreviated News From All Parts of the State. A young man named Stuart is wanted at Topeka for horsestealing. He has been located at Kansas City. The dairymen's association at Topeka decided to take steps to stop the sale of butterine in Kansas. W. S. Page of Topeka, assistant superintendent of C., R. I. & P., has resigned and will go to Chicago. The Kansas grain elevator on the south side of Kansas City has been attached for a debt of $2,000. Lincoln Hospital, 121 South 14th st. Modern surgery in all its branches. Dr. Thad H. Woodward. surgeon in charge, Lincoln, Neb. W. J. Wright, a young builder of Leavenworth, fell from a scaffold last week and was fatally injured. The accident was one of the saddest at that place during the year, as he was much esteemed and had but recently embarked in business for himself. Boy's strong suits $1.25 and $2.50 Men's durable suits $3 90 Boy 8 overcoats $1 50 Men's overcoats $2 50 and up Write for catalogue The Hub, 104-6 N 10 st, Lincoln The Newton National bank has closed its doors. Nothing definite can be learned about its condition, but it is generally believed that its liabilities will be met in full. The bank failed in November, 1891, but was reorgan. ized later and supposed to be perfectly safe. Topeka special: The case of the National Bank of Commerce of Kansas City, Mo., against the receiver of the First National bank of Kansas City, Kas., has been heard in the United States circuit court. The suit involves $65,000 and hinges upon whether the indorsement of that amount of the American and English Mortgage company's paper by the president of the First National bank is what is known in law as an accommodation indorsement. The attorneys will submit their arguments in writing and a decision is expected in about a month. Take a run down to Herpolsheimer & Co., Lincoln. for your holidav dry goods, cloaks, furs, dolls, toys, fancy goods, candies, etc. If you have $5 worth of goods to buy it will pay you to see this fine collection. as they are the largest dealers in the west. William Humphrey, employe of Kingan & Co., packers of Kansas City, Kas., picked up a discarded incandescent electric light globe and had been carrying it in his pocket, intending to make a present of itto his little grandson. Last week while talking and at the same time rolling and rubbing the globe between his hands it exploded with terrific violence, bursting into a thousand pieces, many of which penetrated his hands and one or more of the larger particles few into his mouth, cutting the arches of his palate and causing considerable hemorrhage. No serious injury was sustained by Mr. Humphrey. but had particles entered his eyes he might have been seriously injured for life. The big stores of Herpolsheimer & Co., Lincoln, use goods in such large quantities they are enabled to save you fully one-third to one-half on your purchases of dry goods. furs, tine dolls, 20-ineh bisque head 25c, usual price 650, toys, pictures. etc., of all kinds. Run down and have the avantage of Herpolsheimer & Co.'s fine collection. The body of Charles A. Burson was burled in the potter's field at Leavenworth last Sunday, the bereaved wife having no money to give a private interment. E. B. Cabbell, populist candidate for presidential elector against E. G. Dewey, republican, has been declared elected by the state canvassing board which met at Topeka. J. C. McLaughlin of Bronson. Kas. has invented a railway switch that can be operated by the engineer from the cab while the train is in motion, going forward or backward.


Article from Union County Courier, December 30, 1892

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Newsy Paragraphs. KEY WEST, Fla., will again be garrisoned. IT is said that Bishop Spaulding will be Archbishop Kenrick's coadjutor. DIES' furniture factory, Alexandria, Va., burned. Loss, $110,000; insurance, $35,000. THE increase in the net earnings of the Union Pacific Road in October was $1,319,909. IT is stated that the Illinois Central Road will soon control the Little Rock and Memphis Road. HAWAII will be represented at the World's Fair by its famous band, $12,000 having been appropriated. THE Newton National Bank, at Newton, Kas., has failed. It was closed in the same manner two years ago. HARRY DUNCAN has been sentenced at St. Louis to hang on Feb. 3, next. for the murder of Policeman James Bowdy. Gov. MURPHY, of Arizona, isin Washington strongly urging the immediate admission of the territory into the Union. THE Illinois State Grange adopted resolutions demanding the recall of American delegates to the monetary conference. IN a deposition filed at Wichita, Kan.. Robert F. Wilson, of Chicago, is charged with having secured $10,000 from a Chicago firm for a paving contract. THE factory of the Higgins Cracker Company, at Kansas City, Mo., was destroyed by fire. The loss is $175,002. The company is a member of the trust. A STRANGER walked into Joseph Mandel's pawn shop at Louisville, Ky., pointed a pistol at the proprietor, icked up $1,500 worth of diamonds and escaped. SENATOR MILLS has written a letter in which he declares that he had nothing to do with the slight to Speaker Crisp at the New York Reform Club Danquet. A POSSE has been organized to exterminate the Star-Neweomb band of In. dian Territory outlaws, who recently murdered Deputy United States Marshal Wilson. THE steamer Keystone, on the Ohio River, took fire when crowded with passengers. The boat was run to shore, the passengers landed, and the flames extinguished. FRANK S. GRAY, who lo t his suit against Col. Elliot F. Shepard, proprietor of the Mail and Express, for breach of contract, has decided to take his case to a higher court. THE body of Mrs. C. M. Herrington was removed from the grave near Elmira, N. Y., where it had lain for thirtyfive years, and was found to be as lifelike as on the day it was buried. PETER HART, the old soldier who nailed the Union flag to the mast at Fort Sumter after it had been shot away, is dying at his home, 356 Bedford avenue, Brooklyn, from the effects of a stroke of paralysis. FRANK W. REHL, the young German who butchered Frank Paulsen with a hatchet lest September in New York, and afterward plundered the apartment, has been found gullty of murder, and will be sentenced to death


Article from Evening Star, January 17, 1893

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BANK RECEIVER APPOINTED. - The controller of the currency has appointed John Wetts of Kansas receiver of the Newton National Bank of Newton, Kan. -


Article from The Wichita Daily Eagle, January 19, 1893

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BANK RECEIVER APPOINTED A dispatch from Washington says: "The comptroller of the currency today appointed John Watts, of Wichita, Kan., receiver of the Newton National Bank, of Newton, Kan. Mr. Watts has had considerable experience in connection with the affairs of national banks, having been assistant cashier of a national bank at Wichita, and for some time has been receiver of the Harper national bank, of Harper, K&D.


Article from The Wichita Daily Eagle, August 22, 1896

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NEWTON NATIONAL AFFAIRS Receivership Has Come toan End and the People Will Attend the Bonfire, There is such a thing after all as an end to bank receivership. The Newton Kansan says: "The receivership of the old Newton National bank, which failed in December, 1892, is being wound up by the present receiver, John Watts, upon the order of the comptroller of the currency. "At the time of the failure the liabilitles af the bank amounted to not quite $100,000. The assets figured up to $300,000, exclusive of an assessment of $75,000 made upon the stockholders of the bank. Of this assessment $43,000 was collected. About $50,000 of the indebtedness has been paid off, leaving about $17,000 that has been collected from the $300,000 assets. That is to say, $17,000 of the orignal assets got back into the pòckets of the widows, business men and savings depositors. In the meantime an expensive law suit has been waged by Henry Newbegin of Defiance, Ohio, and won by him, which has eaten up about $5,000 exclusive of heavy atotrneys fees. Then there have been salaries for receiver and clerk for three years, office rent, attorney's fees and other expenses amounting to many thousands of dollars. After the first fatture of the bank 87½ per cent of the Habilities were paid off, and after the second failure 50 per cent, with a pdospect of only a one or two per cent dividend if any at all, tofollow. A Carge amount of the apparent assets is in the shape of notes that are either worthless or outlawed. When the bank is finally wound up the assets will be sold at auotion for cash, the final, dividend, if any, will be declared, and all of the books and papers of the bank will be burned. The 500 people who last money in the bank, most of whom were crippled by the loss, may attend the final bon fire and see their last hopes of being repaid go up in smoke. If there be those philosophical enough to smile during the procedure, they may take solace in the fact that It was not their own shortcomings, but the management and bad business methods of others that lost them their money. It is hard enough for the average mortal to lose his hard earned savings through misjudgments of his own, but when mismanagement, if that word be charitable enough to cover more sins than one, of others is the cause ,it is indeed a bitter pill