6941. First National Bank (Paola, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
national
Bank ID
1864
Charter Number
1864
Start Date
November 16, 1877
Location
Paola, Kansas (38.572, -94.879)

Metadata

Model
gpt-5-mini
Short Digest
192f50ba

Response Measures

None

Description

Articles: 1877 piece notes a very small run (about $25 withdrawn). By 1880 the First National Bank of Paola went into liquidation a short time ago and its president was arrested for false entries (bank-specific adverse information). Later articles (1897, 1899) refer to receivers and dividend litigation, confirming the bank remained closed and in liquidation/receivership. I classify this as a suspension/closure (permanent closure with receiver). Dates inferred from publication dates: liquidation reported by Sep 1880; receiver mentions in 1897-1899. No clear evidence that the 1877 small withdrawal triggered the suspension/liquidation.

Events (6)

1. August 16, 1871 Chartered
Source
historical_nic
2. November 16, 1877 Run
Cause
Rumor Or Misinformation
Cause Details
Minor, isolated withdrawals reported; article gives no bank-specific adverse information or broader panic — only a small run of about $25.
Newspaper Excerpt
the 1st national bank at Paola had a run a few days ago, and that 'twenty-five dollars were drawn out.'
Source
newspapers
3. December 1, 1877 Voluntary Liquidation
Source
historical_nic
4. September 1, 1880* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank entered liquidation; president arrested (Sep 27) charged with making false entries in reports of the bank's condition, indicating internal malfeasance/insolvency.
Newspaper Excerpt
First National Bank of Paola, Kan., which went into liquidation a short time ago,
Source
newspapers
5. February 11, 1897 Receivership
Newspaper Excerpt
Barney Sheridan of the Paola Spirit, has succeeded J. Sam Brown as receiver of the defunct Sumner National and First National banks. (People's Voice, 1897-02-11).
Source
newspapers
6. January 17, 1899 Other
Newspaper Excerpt
Receiver B. J. Sheridan writes from Paola, requesting the VOICE to announce that, on account of a hitch in litigation, the checks for the First National and Summer National bank dividends will not be ready until about the first of February. (indicates ongoing liquidation/dividend distribution delayed by litigation)
Source
newspapers

Newspaper Articles (4)

Article from The Emporia News, November 16, 1877

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Article Text

# State News and Notes. Episcopal church, Manhattan, is having a $1,000 organ built at Utica, New York. G. A. Hutchinson is the new Presbyterian minister at Eureka. A movement is on foot in Topeka to build a residence for the Rev. Mr. Martindale, late state agent for the American Bible Society, who has gone totally blind. Mr. Black, late of Black's bank, Topeka, heads the subscription with $100. The residence proposed will cost $1,000. Four inches of snow in Pottawatomie county election day. "Giles" thinks the city schools of Topeka a failure. But another man goes for "Giles" and says he don't point out wherein or mention a remedy. It is easier to growl than anything else in this world, and more fashionable. The kind of brains that can pick flaws with every existing thing are plenty, but the kind that makes good, sensible suggestions to better things is awful scarce. Topeka has made her library free. Junction City is to have a new hotel 47x82 and three stories high. We wish another town we know of could raise the spunk to follow suit. Prouty has a new suit of clothes and has only been in Junction City about a month. There must be some credulous cuss up there in the clothing business. "Pen, Paste and Scissors" says the 1st national bank at Paola had a run a few days ago, and that "twenty-five dollars were drawn out." That must have been awful. The state agricultural college has telephones. Colonel N. S. Goss is hunting birds in southern Texas. Seventeen births occurred in one week recently at Burlington. A narrow gauge road between Topeka and Fort Scott is talked of. Turnips are said to be a sure preventive for the prevailing hog disease. Eighteen thousand bushels of peaches were shipped from Fort Scott this year. A dam is nearly completed across the Solomon river at Scandia, Republic county. T. W. Hurlbert, of Burlington, has received a patent for a "weed-folding attachment for plows." Seventeen hundred persons have identified themselves with the Murphy temperance movement at Fort Scott. A colony of Dunkards from Pennsylvania have purchased several thousand acres of land near Frankfort, Marshal county. F. P. Baker has sued Dr. Munford, of the Kansas City Times, for libel, in the United States circuit court. $20,000 damages are asked. Major Beman, of Topeka, late adjutant-general of the state, has been appointed clerk of the commission to appraise Kansas Indian lands. The editor of the Commonwealth has an order to ship several brace of prairie chickens to New Zealand, for acclimatization in that country. H. B. Johnson, formerly attorney general of Missouri, has formed a law partnership at Topeka with Willard Davis, attorney general of Kansas. The Missouri Valley Life Insurance company has made up its impairment, and received a certificate from the superintendent to that effect. They are now ready for business. On the 30th ult., Rev. James H. Defouri, vicar-general of the Catholic diocese of Kansas, and who has been a resident of the state for fifteen or twenty years, took out his first naturalization papers. While a colored man and his wife were attending churce in Mt. Pleasant township, Atchison county, last Sunday, their residence burnt up and their two-year old child was burned to death with it.


Article from Cheyenne Transporter, October 9, 1880

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Article Text

News Items. In consequence of the failure of the fisheries off the coast of Graspe, the inhabitants are likely to be reduced to the verge of starvation. A Berlin dispatch states that the powers have peremptorily demanded of the Sultan the immediate recall of Riza Pasha and the surrender of Dulcigno. Cowley County Monitor.-It is stated that 'Squire Reed, of Oxford township has a genuine mad-stone that has been in the family one hundred and fifty years. The first annual fair ever held in the Black Hills closed Sep. 26th after a week's successful run. The exhibits were large and varied, and the prizes liberal. The prisoners confined in the jail at Grenada, Miss., set fire to the building on the night of the 26th ult. All were released and made their escape. The building was entirely consumed. Grasshoppers appeared at Jacksonboro, Tex., on the 27th ult. They came from the north, at times obscuring the sun. The crops near there are completely ruined even the cotton stalks being devoured. William Sly, of Nicholasville, O., went to Cincinnati on tfie 27th ult. and exchanged $3,500 in 4 per cents for gold, putting the gold in a valise. On his way home he found his valise had been changed for one containing three bricks. F. M. Shaw, president of the First National Bank of Paola, Kan., which went into liquidation a short time ago, was arrested at that place Sep. 27th, charged with making false entries in the report of the condition of the bank. At a meeting of the spinners' committee, Sep. 26th, at Fall River, Mass., to consider the advisability of striking in ten or more mills in case of a reduction in wages, the committee decided to recommend a strike at all the mills in the city. The report will probably be adopted by the entire union. The Missouri Pacific railroad company has filed suit against the members of the board of public improvements in St. Louis, for obstructing its right of way at the Jefferson avenue crossing, where the city is constructing a bridge to cross its track, and for otherwise interfering with and injuring its business, claiming damages in the sum of $25,000. A special train from Sacramento with the first regiment national guards, returning from the State Fair, left the track at Oakland wharf on the night of the 26th ult., owing to a misplaced switch. The engine and tender went into the bay. The engineer, Wm. Brown, stuck to the lever of the air brake and went down with the engine, The fireman was rescued... A number of passengers were bruised but none were seriously hurt, Information of the plot to blow up the yacht Lividia was received from the authorities at St. Petersburg, and afterward from the police officials at Geneva. According to these advices, the nihilists had deputed emissaries to blow up the Lividia


Article from People's Voice, February 11, 1897

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Article Text

Two pounds good coffee for 25 cents at Wyatt Bros. Barney Sheridan of the Paola Spirit, has succeeded J. Sam Brown as receiver of the defunct Sumner National and First National banks. Clarence Robertson, charged with cattle stealing, appeared in district court for trial last Monday, but his case was continued till next Monday. The beard, mustache and eyebrows may be made a desirable and uniform brown or black by an occasional application of Buckingham's Dye for the whishers. Mrs. Robert Collins, formerly of Oxford, died of brain fever at her home in Kansas City last week. She was buried Sunday at her old home in Peabody. J. Mulligan has secured a position in A. Graff's harness store at Argonia, and his household goods were being moved there Monday. J. M. Griffice moved them. The probate court Friday allowed a petition to sell the estate of C. M. Brewster and E. S. Brewster. It consists of lots 13, 14, 15, 16, 17 and 18, in block 12, of the original town of Oxford, containing a dwelling house. The rental was not sufficient to-pay


Article from People's Voice, January 17, 1899

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Article Text

Receiver B. J. Sheridan writes from Paola, requesting the VOICE to announce that, on account of a hitch in litigation, the checks for the First National and Summer National bank dividends will not be ready until about the first of February.