6935. Farmers & Merchants Bank (Osawatomie, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 18, 1893
Location
Osawatomie, Kansas (38.497, -94.951)

Metadata

Model
gpt-5-mini
Short Digest
73cff498

Response Measures

None

Description

Multiple contemporaneous newspaper dispatches (July 18–19, 1893) report the Farmers & Merchants Bank of Osawatomie as having failed/suspended and being reported to the State Bank Examiner. No article describes a depositor run at this specific bank or any reopening; reports list it among several small Kansas banks that went under during the July 1893 panic. Cause attributed to contagion from other Kansas City/local banks and the broader panic.

Events (1)
1. July 18, 1893 Suspension
Cause
Local Banks
Cause Details
Failure/suspension reported as part of a wave of small Kansas bank failures tied to suspensions/ failures of Kansas City and other local banks and the broader July 1893 panic; contagion from other local banks reduced liquidity/exposed deposits held elsewhere. Articles note it 'did a small business' and was reported to the state examiner. No specific internal insolvency allegation in the dispatches.
Newspaper Excerpt
State Bank Examiner Breidenthal this morning received notice of the failures of ... the Farmers' and Merchants' Bank at Osawatomie.
Source
newspapers

Newspaper Articles (10)
1. July 18, 1893 The Evening World New York, NY
Article from The Evening World, July 18, 1893

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PANIC ON IN DENVER. Four More Banks Close Their Doors To-Day. Runs Started on All the ClearingHouse Institutions. several Kansas Banks Go Down. with One in Ada. Ohio. DENVER, Col., July 18.-The Union National Bank, of which R. W. Woodbury is President, failed to open its doors this morning. The capital is $1,000,000. No statement can be had. A run is now being made on the City National, German National, First National. Colorado National and all the Clearing-House banks. The panic is on. LATER.-The Commercial National Bank has closed its doors. A notice says: "This bank has gone into liquidation by order of the Board of Directors." The National Bank of Commerce has also closed. Ex-Gov. Job A. Cooper is President of this bank. The Mercantile Bank. a private institution with a capital stock of $100,000, closed its doors at noon. The failure was caused by the failure of the Union National Bank, through which it cleared. C. C. Girda, the City Auditor, is President. W. F. Robinson formerly Treasurer of the Republican Publishing Company. one of the oldest and most respected individuals in the State, has been made assignee. President Woodbury is of the opinion that the Union National Bank will reopen and continue business as before. It is one of the oldest banks in Denver, and has always been regarded as one of its solid ones. The failure of the Chamberlin Investment Company a few days ago affected the Union National, the Company having become indebted to the bank about $50,000. The Commercial National Bank was in bad shape. It has a capital stock of $250,000. and only had $2,000 in cash in the bank. TOLEDO, July 18.-The Citizens' Bank of Ada, O., the most prominent one in Hardin County, failed to open its doors this morning. Its owner, Peter Ahifield, has controlled it for over a quarter of a century, and is one of the wealthiest men of that section. No statement of assets and liabilities, or the cause of failure, can be obtained. FORT SCOTT, Kan. July 18.-The First National Bank, of this city, the oldest financial institution in Southeastern Kansas, has suspended payment. TOPEKA. Kan., July 18.-State Bank Examiner Breidenthal this morning received notice of the failures of the Citizens' Bank, of Kansas City, Kan., of the Bank of Richmond and of the Farmers and Merchants' Bank. at Ossawattomie. The concerns all did a small business. Statements are unobtainable. The opinion is expressed that other institutions throughout the State will soon go under. The Denver bank failures reported above are in addition to the three reported in the same city yesterday, which were as follows: People's Savings Bank: assets, $1,125,667.55; liabilities, $966,996.88 Colora do Savings Bank: assets over liabilities, $73,063.62. Rocky Mountain Dime and Savings Bank: assets, $156,803.53; liabilities. $105, 654.32. The seriousness of the situation is quite evident from the collapse of all f these institutions.

2. July 19, 1893 Grand Rapids Herald Grand Rapids, MI
Article from Grand Rapids Herald, July 19, 1893

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Kansas Banks Go Under. TOPREA, Kan., July 18. State Bank Examiner Breidentball this morning recoived notice of the failure of the Citisens' Bank of Kaneas City, Kan., the Bank of Richmond and the Farmars' and Merchants' bank of Omawatomia. The concerns all did a small business ONSAWATOMIX, Kan., July 18.-The Farmers' and Mechanics' bank of this city suspended this morning and is now in the hands of the state bank conamia simen. it is claimed that assets are much larger than liabilities Fort Scott. Kan., July 18.-The First National bank of this city failed to open its doers for business this morn. ing at the usual time, and the first inti. mation any one had of the financial con ditice of the bank was when a sotice was put up on the front door at 9 e'clock.

3. July 19, 1893 The Sun New York, NY
Article from The Sun, July 19, 1893

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KANSAS BANK FAILURES. Two Banks Suspend at Fort Scott and Three in Other Town. FORT SCOTT. Kan. July 18.-Two banks closed their doors in this city to-day-the First National Bank. with a capital stock of $300,000. and the People's Savings Bank. with $50,000 capital. For several days past steady withdrawals from these banks have been made. and the aggregate deposits of the First National have been reduced from $215,000 to $130,000.which amount it had at the time of closing. The officers of both banks strongly maintain that their business is only temporarily RUBpended. and that dollar for dollar will be returned to the depositors. The First National people assert that their Assets are more than $390,000. but that is In securities and cannot be immediately realized upon. The First National was organized in 1871. and the People's Bank in 1883. TOPEKA. Kan.. July 18.-State Bank Exam. iner Breidenthal this morning received notice of the failures of the Citizens' Bank of Kansas City. Kansas: of the Bank of Richmond, and of the Farmers' and Merchants' Bank at ORSAwattomic. The concerns all did a small business. Statements are unobtainable. The opinion is expressed that other institutions throughout the State will soon go under. WASHINGTON. July 18.-Before the office of the Comptroller of the Currency was closed this afternoon information had been received of the failure of three national banks to-day-the Commercial National and the Union National of Denver. and the First National of Fort Scott. Kan. The news of the Denver crash caused some surprise in the Comptroller's office. for it was belloved there that the worst was over and that national banking matters would soon resume their normal condition. The gold reserve took another downward tumble to-day from $188,050,480 its amount yesterday. to $97,672,852. The currency balance to-day was $20,118,160. against $26,117. 918 yesterday. The Chief of the Bureau of Statistics. in his statement of the exports and import of gold and silver. reports that the exports of gold from the United States during the twelve months ended June 30. 1893, amounted to $108,680,844. and the imports to $21,174,381: excess of exporte. $87,506,463. During the corresponding period of the preceding year the exports were $50,195,327. and the imports $49,699.45 excess of exports. $495,873. The exports of silver during the twelve months ended June 30. 1893, were $40,737,319. and the imports $23,193,252: excess of exports. $17.544.067. During the corresponding period of the preceding year the exports were $32.810,559. and the imports $19,955,086; excess of exports. $12,855,473. During the six months ended June 30 the exports of gold amonnted to $73,717,938. an increase of $32,148,788 over the corresponding period of the preceding year. The Imports were $11,759,043. an increase of $3,723,435.

4. July 19, 1893 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, July 19, 1893

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Three Small Banks Suspend. TOPEKA, July 19.-State Bank Examiner Breidenthal received notice of the failure of the Citizens' bank of Kansas City, the Bank of Richmond and the Farmers' and Merchants' bank of Osawatomie. The concerns all did a small business.

5. July 19, 1893 Evening Journal Wilmington, DE
Article from Evening Journal, July 19, 1893

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EARLY NEWS SUMMARY. Held Responsible for Deaths in the Cold Storage Fire. THE JURY RENDERS A DECISION. Director of Works Burnham, Fire Marshal Murphy. President Skinner and Secretary McDonald, of the Hercules Iron Company. That Built the Building, Found{Guilty. The coroner's jury investigating the Cold Storage fire disaster held Director of Works Burnham, Fire Marshal Murphy, President Skinner, of the Hercules Iron Company, that built the building, and Secretary McDonald, of the same com pany, responsible for the deaths. 4 Denver Bank Failures, The Union National, National Bank of Commerce, Commercial National and Mercantile banks, of Denver, failed and the McNanara dry good house and several other business houses went under owing to the financial panic there. Crusade Against Colored People. Founder Bradley, of Asbury Park, has begun a crusade against the col ored people who monopolize the seats on the beach and pavilions. A Celebrated Case Decided. Judge Acheson in the United States Circuit Court at Erie decided the cele brated case of the Stonemetz Printing Machinery Company vs. the Brown Fold ing Machinery Company in favor of the former. Paid $600,000 in Gold. The New York Sub-Treasury was debtor at the Clearing House to the extent of $669,000, and Treasurer Jorden ordered that the difference should again be paid mostly in gold. Of the total amount $600,000 was paid over in gold and the balance in currency notes. Oldest Bank in Kansas Falls. The First National Bank of Fort Scott, Kan., the oldest financial institution in Southeastern Kansas, suspended payment and the Citizens' Bank at Kan. sas City, the bank of Richmond and the Farmers' and Merchants' Bank at Ossa wattomie have also failed. Prominent Club Man a Forger. : Lloyd Aspinwall, the New York club man, is confined in Yorkville prison, N Y., in default of $5.000 bail, upon the charge of forgery. It is charged that he forged the name of William Aspinwall in indorsing a check. 1 A World's Fair Tradgedy. Miss Emma Garrett, of Philadelphis, who has charge of the Pennsylvania ex t hibit of the work of pupils in institu tions for the blind at the Fair, became 0 insane from overwork and killed herself f by jumping from the fifth story of a hotel. a Meyer, the Poisoner, Arraigned. Dr. Henry C. W. Meyer, the alleged wholesale poisoner, was arraigned be fore Judge Cowing in New York to plead to the indictment charging him with murder. At the request of Lawyer v Joseph Moss. the prisoner's counsel, the judge allowed the case to go over until Thursday.

6. July 19, 1893 Rock Island Daily Argus Rock Island, IL
Article from Rock Island Daily Argus, July 19, 1893

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SOME MORE FAILURES IN KANSAS. First National at Fort Scott Fails to Open -Others Reported. FORT SCOTT, Kan., July 19.-The First National bank of this city has failed to open its doors for business and the first intimation any one had of the financial condition of the bank was when the following notice was put up on the front door at 9 o'clock: "Owing to steady withdrawats of deposits and our inability to collect assets, we deem it to the best interest of all concerned that this bank be temporarily closed. Assets are more than three times liabilities and depositors will lose nothing. By order of directors." The First National was established in 1871 and was the oldest and largest national bank in southeastern Kansas, It had a capital of $300,000, fully paid up and had always stood all runs, TOPEKA, Kan., July 19.-State Bank Commissioner Breidenthal has received notice of the failures of the Bank of Richmond and of the Farmers' and Merchants' bank of Osawatomies and has gone there. A Suspended Bank That Will Not Resume. CHICAGO. July -The Chemical National bank reorganizing committee has made a report to the stockholders and creditors of that institution against the reorganization of the bank. The committee, after careful consideration, has come to the conclusion that at this time further efforts at resumption are useless.

7. July 20, 1893 Echo De L'ouest Minneapolis, MN
Article from Echo De L'ouest, July 20, 1893

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Faillites de Banques et antres depuis quelques jours -Le Schleisinger Syndicate de Nigaumee, Mich, representant des millions de dollars de capital allemand a fait faillite. Les pertes des créanciers seront énormes. W.H. Rush et H, M. Tabor de Denver, Col., ont deposé leur bilan. Passif 650000 dollare. La Bank of Springfield, Mo, a fermée ses portes. C'est la premiè re fois qu'une banque fait faillite dans la ville. Passif 256,000 dollare. Fermée est la Bank of Garnet, Kan. Les déposants perdront énormé ment et le comté 23,000 dollare que le tréforier y avait déposés. Trois faillites de banques de New-York, celles de MM. C. H. Bunell, celle de M. H. S. Tober et enfin celle de M. W. Barrow. La Philadelphia Mutual Life Insurance Company de Harris burg, Pa., et la Keyatone Benefit Association de Beaver Falls, Pa., sont insolvables. O. E. Nettleton banquier de Deeham, Mass., a dépost son bilan. Le "Universal Order of Coope ration" de Philad-lphie va être mis entre les mains d'nn syndic. Harris Bros de New York ont suspendu leurs paiements. Passif 100,000 dollars. La N W Jersey Sheep & Wool Company de Trenton N. Y. a fermé ses portes. En faillite auesi dans le Kansas La "Bank of Balter and Double Bay de Columbus" la "City Bank" de Johnson City, et la "Book of Weir City" La Peoples Savings Bank de Denver, Col., a ferme see portee. Passif 350,000 dollare. La Rocky Mountain Dime et Dollar Bank de la même ville a suspendu ees paiements. Il en est de même de la Colorado Savings Bank. La Missouri National Bank et la Grande Avenue Bank de Kan888 City ont fait faillite. Passif 250,000 dollars. Et la liste eat loin d'être épuisée. Enfin les banques "Union National," "Commercial National," "National Bank of Commerce" et "Mercautiie Bank" de Denver, Col., ont aussi sombré. Il en est de même de la "Citizen's Bank" de Kansas City, de la "Bank of Richmond" et de la "Farmers et Merchants Bank" de Oaawatomie, Kan., ainsi que de la "First National Bank" de Fort Scott et de la "Armourdale CitiZons Bind," Kansas. On va bien sous le régime démocratique.

8. July 20, 1893 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, July 20, 1893

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to the bank in person to draw their money. The excitement and demand upon for money continued unabated almost until banks about 2 o'clock, when it subsided at all Nationol and entirely the State German banks depositors except National, where a line of diminseemed to increase instead of have This bank is understood to Kanish. special train on the way from will a City bearing $490,000, and The sas reach here early tomorrow. received First National a little bank after o'clock $170,000 today, and $250,000 more from at the closing hour. This came PresiYork. It was money due At 3 New Moffat for bullion he sold. hour, there were a dozen people in any o'clock, ly dent half closing above. of D. hard- the H. institutions except the Moffat, president of the First National, stated that deposits at his witdrawals useduring the greatly exceeded bank has always been managed conservatively This day and Moffatt. the was most almost exclussvely owned by The general opinion among bankers is men is that the panic and no more banks will to over although a run in a and close, business mild be obliged or three way continue against two believed banks may for a day or two. It is will refinanciers that today's run confiby the people having more in the strong banks, today will at once dence sult withdrawn in and money be estab- redeposited, and better feeling which lished in financial circles, The suswill make money easier. busipended banks expect to resume The conin a short time. deposine-s on banks by scared is about the 0 by the bankers that no the stated tors stantdrain brought crisis from less It than $8,000,000 had been drawn months. banks during the last three to the Of this $3,000,000 have gone but in regular line of business in the East are $5,000,000 hoarded ful! there Safety deposit vaults are the city. is reason to suppose and of ;workingmen contain hidin which their savings are places homes there secret was If one-fifth of that_amount in den. letinto circulation the stringency Denver would cease. ANOTHER DENVER BANK. Mercantile bank, a private of $100,- institution The with a capital stock The failclosed its doors at noon. of the 000, caused by the failure which it Union ure was National bank through cleared. DRY GOODS COMPANY FAILED. McFamara Dry Goods company of The of the largest institutions failed one the morning. kind in Liabilities, the city $270,000. this not known. The failure served was on brought Assets on by attachment by house at 1 o'clock this morning failed the National bank which for its doors this to open and the Colorado latter $71,780, the Union morning. National the for $20,847.74. The president of bank had a private claim for the $25,000, Denand D. Sheedy, an one officer for $40,000. in The ver National, was not unexpected, but easier it had failure hoped money would be been the firm be able to pull through. and Stringency and in the money market secure to place securities or from the of three savings extension inability closing banks, banks aided Had yes- the by the was the direct cause. been terday banks which closed yesterday which to able to secure cash with the failit over the "hard spots" Nearly carry would not have occurred. ure entire amount falls on the Denver the banks and commercial houses. e THREE MORE FIRMS. & Cohn proprieters of the & Hyman Hive shoe store, McWhirter Bee dealers in mantles and have tiles, Dipps. Engle & Harris, dry goods, available assigned. and No statements but amounts not large. FORT SCOTT BANK FORT SCOTT, Kas., July 18.-The failed National bank of this city First for business this morning, of de to open to steady withdrawal and inability to more than three owing posits Assets are collect lose times assets. noth- liaand depositors will e First National was and in 1871 and was the bilities. lished ing. The Southeastern oldest estabnational bank in S It had a Kansas. run on the Peoples $300,000 largest A capital stock 30 Sav- day of bank was started but the and the ings was taken advantage of swamped. bank law thus saved from being THREE KANSAS BANKS July 18.-State Bank Ex- reTOPEKA. Breidentbal this morning the ceived aminer notice of the failure of Kans., Bank of Kansas City, of the Citizens Bank of Richmond and of Osof Farmers' the and Merch ints' bank did small sawatomie. The concerns all business. Statements unobtainable. 0 BANK OF ANACORTES. ANACORTES. Wash. July 18.-The to of Anacortes failed to open assets day. Bank Liabilities are $29,000, $78,090. Rumor Not Credited. Lula 10 The

9. July 21, 1893 The Clarksburg Telegram Clarksburg, WV
Article from The Clarksburg Telegram, July 21, 1893

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IT'S AWFUL. Leading Institutions of The West go Under. GLORIOUS DEMOCRATIC ADMINISTRATION. In no period of American history has there been such collapsing of what were supposed to be the strongest banks of the country. Nearly all the banks of the famous city of Denver, Colorado, closed their doors without a moment's warning on Tuesday. The great Union National was first to suspend. Its capital stock was over one million dollars. Next the Commercial National and a little låter the Bank of Commerce went under. Frantic mobs rushed wildly about crying "where will it stop." CALAMITIES STILL COME. DENVER, COL.. July 18.-The McNamara Dry Goods Company. one of the largest institutions of the kind here. failed this morning. The liabilities are placed at $260,000. TOLEDO, O., July 18. -The Citizens' Bank, of Ada, the most prominent one in Hardin county, failed to open its doors this morning. ARMOURDALE, KANSAS, July 18. -The Citizens' Bank suspended payment to-day with assets of $151,500 and liabilities of $126, 500. FT. SCOTT, KAS., July 18-The First National Bank, of this city failed to open for business this 1 morning. It had a capital stock of $800,000, fully paid in and has always stood all runs. TOPEKA, KAS., July 18.-The S State Bank Examiner this morning received notice of the failure of the Citizens' Bank, of Kansas N City, Kansas, of the Bank of 0 Richmond, and of the Farmers' and Merchants' Bank at Ossawate tomie. The opinion is expressed t that other institutions through. out the State will soon go under. 1 BOSTON, MASS., July 18.-The Amoskeag mills which will close for the month of August accordvary ing to a vote of its directors at (1) Manchester, N. H., employes 8,000 hands. It has a pay roll of may $225,000 per month and uses 6, 000,000 pounds of cotton per 1 week. Other mills are likely to follow suit. Amoskeag mills is the largest producer of manufactured goods in the world. All the above dispatches were from the news columns of Wednesdays's Wheeling Register.

10. July 22, 1893 The Irish Standard Minneapolis, Saint Paul, MN
Article from The Irish Standard, July 22, 1893

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MANY BANKS FAIL. Four in the City of Denver Forced to Close Their Doors. Anxious Depositors Crowd the Streets-Mercantile Houses Pulled Down-Seve al Kansas Banks in Trouble-Failures at Other Places. BAD DAY FOR BANKS. DENVER, Col., July 19.-No such scene was ever witnessed in all the west as could be seen here Tuesday morning shortly after 10 o'clock, when the banks were supposed to open their doors for business The failure of three savings banks Tuesday had excited the masses and the streets were crowded with anxious depositors. The eleven clearing-house banks, located within four blocks of each other, were surrounded, and far into the streets the crowd gathered until officers and special police were called out to clear the way for traffic. STARTED THE RUN. The Union national, with a capital of $1,000,000, posted a notice that they would not open their doors. This started the panic, and, following quickly, the Commercial national posted a similar notice and then the National bank of commerce. The Commercial national bank closed its doors within a few minutes after opening, for it became apparent from the size of the crowd in front of the bank that a run was to be inaugurated. The bank was in bad shape. It has a capital stock of $250,000 and only had $2,000 in cash in the bank. The Mercantile bank, a private institution, with a capital stock of $100,000, closed its doors at noon. The failure was caused by the failure of the Union national bank, through which it cleared. BUSINESS HOUSES CLOSED. The McNamara Dry Goods company, one of the largest institutions of the kind, failed Tuesday morning. The liabilities are placed at $260,000. The failure was brought on by an attach ment served at 1 o'clock Tuesday morning by the Union national bank, which failed to open its doors, for $71,780, and the Colorado national for $20,847. Following the failure of the big McNamara dry goods house several other mercantile failures were quickly announced. One was the John Mouat Lumber company on an attachment from the German national bank for $155,200. Albert Nelson's restaurant and saloon went down with the National bank of commerce. His assets are placed at $111,510. with liabilities of $96,725. M. S. Noah. installment furniture house. Assets, $40,000: liabilities, $16,000. Three other firms with liabilities of $20,000 each were announced as having failed Tuesday afternoon. They were all caused by the bank panic. TROUBLE IN KANSAS. TOPEKA, Kan., July 19.-State Bank Commissioner Breidenthal was notified Tuesday afternoon of the failure of the Citizens' bank of Kansas City, Kan.; the Citizens' bank of Armourdale, the Bank of Richmond, Franklin county, and the Farmers' and Merchants' bank of Osawatomie. All of the banks were doing a small business. FORT SCOTT, Kan., July 19.-The First national bank of this city failed to open for business Tuesday morning, owing to steady withdrawal of deposits and inability to collect assets. The officers claim that the bank's assets are more than three times its liabilities and depositors will lose nothing. QUIET AT KANSAS CITY. KANSAS CITY, Mo., July 19.-The impression prevails that the recent financial flurry is at an end. All was quiet on Tuesday. The banks in Kansas City which have failed are: The National bank of Kansas City, the Missouri national bank, the Kansas City Safe deposit and savings bank and the Bank of Grand Avenue, the latter being a state bank. COUNTRY BANKS SUSPEND. TOPEKA, Kan., July 18.-State Bank Commissioner Breiden thal was on Monday notified of the suspension of six state and private banks in Kansas, all due to the suspension of Kansas City banks in which they had deposits. The banks reported are the Bank of Johnson City the Bank of Weir City, Hood & Kincaid's private bank of Pleasonton, Caney valley bank of Caney, Ritter & Doubleday's private bank of Columbus and the Bank of Meade of Meade Center. Robbed of a Big Sum. NASHVILLE, Tenn., July 18.-W. H. Wallace, a prominent citizen of Lebanon, Tenn., who had been to St. Louis, the