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Private Bank Suspends. PAOLA, Kan.. Jan. 24.-The National Bank of Paola suspended business to-day. No statement of assets or liabilities is made, but it is stated that the deposits, which are small, will be paid in full.
6944. National Bank (Paola, KS)
Bank Information
- Episode Type
- Suspension → Closure
- Bank Type
- national
- Bank ID
- 3795
- Charter Number
- 3795
- Start Date
- January 25, 1898
- Location
- Paola, Kansas (38.572, -94.879)
Metadata
- Model
- gpt-5-mini
- Short Digest
74eda3bf
Response Measures
None
Description
The National Bank of Paola suspended business Jan 24–25, 1898. The comptroller/Controller of the Currency appointed Thomas (Thos./T.) Kelley receiver, indicating formal government receivership and permanent closure rather than a temporary suspension or run-driven event. Some papers call the suspension 'voluntary,' but the appointment of a receiver implies insolvency/closure. No article describes a depositor run or misinformation triggering withdrawals.
Events (2)
1.
January 25, 1898
Suspension
- Cause
- Government Action
- Cause Details
- Comptroller/Controller of the Currency appointed Thomas (Thos./T.) Kelley receiver of the National Bank of Paola after the bank suspended; placed in hands of receiver (formal regulatory action).
- Newspaper Excerpt
- The National Bank of Paola suspended business yesterday. No statement of assets or liabilities is made, but it is stated that the deposits, which are small, will be paid in full.
- Source
- newspapers
2.
February 2, 1898
Receivership
- Newspaper Excerpt
- The comptroller of the currency has appointed Thomas Kelley receiver of the National bank, of Paola, Kan.
- Source
- newspapers
Newspaper Articles (19)
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A NATIONAL BANK IN KANSAS QUITS. Paola, Kan., Jan. 25.-The National Bank of Paola suspended business yesterday. No statement of assets or liabilities is made, but it is stated that the deposits, which are small, will be paid in full.
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The National bank of Paola, Kan suspended.
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Kansas Bank Suspends. Paola, Kan., Jan. 25. - The National bank of Paola suspended business Monday. No statement of assets or liabilities is made, but it is stated that the deposits will be paid in full.
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NEWS NOTES. The National Bank of Paola, at Paola, Kan., has voluntarily suspended. William Bradsley, aged 18, was accidentally killed while out hunting near Ottawa, Kan. In an interview ex-President Cleveland says he has always opposed the annexation of Hawaii. At Allegheny, Pa., Dennis Bowden, a thief, was murdered by his associates because he withheld plunder from them. The contract for a new courthouse at Hays City, Kan., to cost $13,600, has been awarded and work will be begun at once. Carrie Anderson, a good-looking woman from Muskogee, I. T., committed suicide in a hotel at Chetopa, Kan. Cause unknown. The Ohio senate has adopted a resolution to investigate trusts. A committee of five senators will conduct the investigation. The making of annuity payments to 1,600 Indians has begun at Pawhuska, the capital of the Osage nation, Ok., and will last for a week. William Figer has been sentenced to be shot at Eufaula, I. T., for the murder of Sitka McIntosh last summer. Both parties are Creek Indians. The hair of Mrs. James Snyder, of Maude, Ok., turned white from fright, during the late excitement caused by reports of a Seminole uprising. Prof. Murdough, principal of the normal school at Perry, Ok., nailed down the windows of Miss Wooster's room because he objected to her opening them for ventilation and when Miss Wooster resigned the board refused to let her go and may dismiss the principal instead.
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National Bank of Paola Suspends. The National Bank of Paola, Kan., suspended business. No statement of assets or liabilities is made, but it is stated that the deposits, which are small, will be paid in full.
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National Bank of Paola Suspends. The National Bank of Paola, Kan., suspended business. No statement of assets or liabilities is made, but it is stated that the deposits, which are small, will be paid in full.
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All Around Washington. WASHINGTON, Feb. 2.-The second card reception of the season was held at the executive mansion this evening. Two thousand guests were in attendance. A naval board has recommended the use of petroleum for fuel on small vessels. The senate has confirmed Col. S. T. Cushing, nominated for commissary general. Secretary Alger's family are now confident that he will be able to leave Washington within a few days. The comptroller of the currency has appointed Thomas Kelley receiver of the National bank, of Paola, Kan. Secretary Long and Commodore O'Neill were before the senate naval committee today. The quartermaster general of the army, George H. Weeks, will retire from active service tomorrow, and will be succeeded by Col. Marshall I. Ludington. It is stated that a change is likely to be made soon in the office of superintendent of Indian schools, now filled by William N. Hallmann. The board of Indian commissioners called on Secretary Bliss today and discussed Indian affairs with him. Secretary Bliss has directed Indian Agent Wisdom, at Muskogee, I. T., to pay out the $258,000 of Creek scrip issued by that nation some time ago.
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# CONDENSED NEWS Gathered From All Parts of the Country by Telegraph. The controller of the currency has appointed Thos. Kelly receiver of the National Bank of Paola, Kan. Secretary Alger's family are now confident that he will be able to leave Washington within a few days, as he continues to gain slowly. C. C. Smith, the colored boxer of Buffalo, N. Y., and Peter Maher have been matched to box 20 rounds at Sanger hall, Philadelphia, February 15. The British steamer Brator, Capt. Cartmer, from Shields, January 31, for New Orleans, has been towed into Coruna, Spain, with her propeller gone. A terrible storm has swept the coast of Norway during the last few days. There have been several shipping disasters and it is feared many lives have been lost. A railroad smash occurred on the Boston & Maine railroad at Winter Hill, Mass., early Thursday morning. Twelve persons are reported injured, one of whom may die. Emile Zola and the Aurore have requested the ministry of justice to subpoena Gen. Billot, minister of war, as a witness for the defense in the coming prosecution of M. Zola. Two Gloucester schooners went ashore in Plymouth bay Tuesday. The Geo. A. Upton went on Rice's Rocks, and the David A. Osier on Dick's Flats. The crews were saved. At the carnival on Saranac Lake, N. Y., Wednesday afternoon, H. F. Mullarky, of Pittsburgh, beat the world's record of 30⅛ inches for jumping backward on skates, making a jump of 31⅝ inches. At Fall River, Mass., the cloth market continues active and sales of 30,000 to 40,000 pieces have been disposed of within a day or two for deliveries extending into April. The storm has interferred with business to a great extent. Some of the London afternoon newspapers Thursday refer to the absence of the Russian and German ambassadors from the marquis of Salisbury's regular Wednesday reception of the diplomatic corps as being a disquieting portent. A number of senators and members of the house are arranging to go to Michigan later this month to attend the Lincoln banquet at Grand Rapids on the the 12th and the Michigan club banquet at Detroit on Washington's birthday. Reports say the rebel forces under Gen. Garcia inflicted a severe blow on the Spanish under Gen. Linares and Gen. Luque, killing several officers, including the son of Gen. Luque. Official reports say that 85 were killed or wounded. Sixteen men belonging in Trinity Bay, were driven off in the ice Tuesday while seal hunting. It is feared they have perished. The boats that were out seeking them Wednesday returned at night fall without having got sight of them. Gentry Hicks and Keks, jr., sold to James and T. A. Parkingson, of Wagoner, I. T., 9,000 head of two, three and four-year-old steers to be delivered April 1, 1898. The deal amounts to $225,000, which is the largest trade ever made by local dealers in the Indian territory. A special to the Detroit Journal from Ishpeming, Mich., says the advance in wages February 1 at Carnegie mines of Ironwood averaging ten per cent. will be general throughout the Gogebic iron range, between 3,000 and 4,000 employes being directly affected by the increase. The Union League club, of Baltimore, Wednesday night formally opened what is probably the most commodious club house occupied by a purely political organization in the United States. The opening ceremonies included several addresses, the principal among them being that of Senator John M. Thurston, of Nebraska.
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Washington Talk. Th cruiser Brooklyn will be sent to visit Cuban ports. The controller of the currency has appointed Thomas Kelley receiver of the National Bank of Paola, Kan. The lower branch of the Illinois legislature has adopted a joint resolution urging the Illinois congressmen and senators to support the postal savings bank bill now pending in congress. United States Consul Fowler, at Che Foo, China, has submitted to the state department a letter from one of his correspondents in China, inviting proposals from American shipbuilders for supplying tugs or launches suitable for navigation of the canal leading from Chian Fy to Yang Chu Ku, which is to be enlarged and improved to serve as an outlet for commerce.
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Washington Talk. Th cruiser Brooklyn will be sent to visit Cuban ports. The controller of the currency has appointed Thomas Kelley receiver of the National Bank of Paola, Kan. The lower branch of the Illinois legislature has adopted a joint.resolution urging the Illinois congressmen and senators to support the postal savings bank bill now pending in congress. United States Consul Fowler, at Che Foo, China, has submitted to the state department a letter from one of his correspondents in China, inviting proposals from American shipbuilders for supplying tugs or launches suitable for navigation of the canal Heading from Chian Fy to Yang Ghu Ku, which is to be enlarged and improved to serve as an outlet for commerce.
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National Bank Changes The latest bulletin of the comptroller of the currency, dated February 7, 1898, gives the following among other changes: Application to organize national bank approved-The Berrien County National bank of Benton Harbor, Michigan, capital $50,000, by H. D. Pool, Frank Welton, S. M. White et als. Voluntary liquidations-The State National bank of Logansport, Ind., by resolution of its stockholders, dated January 11, 1898. The First National bank of Pomeroy, Wash., by resolution of its stockholders, dated January 11, 1898. The First National bank of Clark, S. D., by resolution of its stockholders, dated November 1, 1897. The First National bank of Osage City, Kas., by resolution of its stockholders, to take effect February 1, 1898. Insolvent-The National Bank of Paola, Kas., was on February 1, 1898, placed in the hands of Thomas T. Kelly, receiver. The City National Bank of Quanah, Tex., Charles S. Jobes, appointed receiver in place of H. H. Kerr (resigned), to take effect February 1, 1898.
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THE NEWS RESUME DIGEST OF THE NEWS FROM ALL PARTS CF THE WORLD. A Comprehensive Review of the Important Happenings of the Past Week Culled From the Telegraph Reports-The Notable Events at Home and Abroad That Have Attracted Attention. Washington Talk. Th cruiser Brooklyn will be sent to visit Cuban ports. The controller of the currency has appointed Thomas Kelley receiver of the National Bank of Paola, Kan. The lower branch of the Illinois legislature has adopted a joint resolution urging the Illinois congressmen and senators to support the postal savings bank bill now pending in congress. United States Consul Fowler, at Che Foo, China, has submitted to the state department a letter from one of his. correspondents in China, inviting proposals from American shipbuilders for supplying tugs or launches suitable for navigation of the canal leading from Chian Fy to Yang Chu Ku, which is to be enlarged and improved to serve as an outlet for commerce.
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BANK FAILURES. Jan. 17-State, Elmwood, III., $60,000. 24-National, Paola, Kan., suspended. - First national, Larimore, N. D., $71,754. Feb. 24-Bank of Southern Baltimore, $170,000. Mar. 16- Home savings, Sioux City, Ia., $60,000 Benson savings, Waterford, Pa., $40,000. 24-Bank of Merriam Park, St. Paul, Minn. People's state, Philadelphia, nearly $1,000,000. 25-Guarantors' Finance Co., Philadelphia, $1,047,500. Jun. 7-Delaware national, Delhi, N. Y., $25,000. 29-Thomas J. Kirby, private, Abilene, Kan., $283,000. Jul. 20-Commercial state, Marshalltown, la. 21-German savings, Doon, la., $59,474 Northern, Lexington, Ky. (suspended) 23-Tawas savings, Tawas City, Mich. (suspended). Aug. 11-Bank of Waverly, III. $150,000. 7-Fillmore county, Preston, Minn., $156,000 Sep. 14-D. F. Parsons, private, Burr Oak, Mich., $100,000. 15-Jasper, Ala., bank, $65,000. 26-Allegheny, at Clifton Forgo, Va., liabilities, $50,000. Oct. 4 --Tradesman's national, at New York, $2,000,000 due depositors. Liabilities placed at $3,800,000. 13-Tioga national, of Oswego, N. Y., closed. 19-First national of Neligh, Neb., Habil German national of Fitts ties $103,000 burgh, Pain liabiliteis, $2,000,000. 21-First national, of Lisbon, O., capital $50,000-closed; resumed on Nov. 15. 29 -Second national, of Springfield, O., goes into liquidation. Nov. 5-First national, of Flushing., O., sus pends, 16-First national, of Emporia, Kan., closed. 28-Bank of Hornersville, N. Y., clease doors with liabilities of $75,000. 30-Second national, of Toledo, O., goes into voluntary liquidation.
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BANK FAILURES. Jan. 17-State, Elmwood, Ill., $60,000. -National, Paola, Kan., suspended. 1-First national, Larimore, N. D., $71,754. Feb. 24 -Bank of Southern Baltimore, $170,000. Mar. 16-Home savings, Sioux City, Ia., $60, 000 Benson savings, Waterford, Pa., $40,000. 24-Bank of Merriam Park, St. Paul, Minn. People's state, Philadelphia, nearly $1,000,000. 25 Guarantors' Finance Co., Philadelphia, $1,047,500. Jun. 7-Delaware national, Delhi, N. Y., $25,000. 29-Thomas J. Kirby, private, Abilene, Kan., $283,000. Jul. .20-Commercial state, Marshalltown, Ia. 21-German savings, Doon, Ia., $59,474 Northern, Lexington, Ky. (suspended). 23-Tawas savings, Tawas City, Mich. (suspended). Aug. 11-Bank of Waverly, Ill. $150,000. 27-Fillmore county, Preston, Minn., $150,000. Sep. 14-D. F. Parsons, private, Burr Oak, Mich., $100,000. 15-Jasper, Ala., bank, $65,000. 26-Allegheny, at Clifton Forge, Va., liabilities, $50,000. Oct. 4-Tradesman's national, at New York, $2,000,000 due depositors. Liabilities placed at $3,800,000. 13-Tioga national, of Oswego, N. Y., closed. 19-First national of Neligh, Neb., liabiliGerman national of Pitts $108,000 burgh, Pa., liabiliteis, $2,000,000. 21-First national, of Lisbon, O., capital $50,000 closed; resumed on Nov. 15. 29 Second national, of Springfield, O., goes into liquidation. Nor. 5- First national, of Flushing., O., suspends. 16-First national, of Emporia, Kan., closed. 28-Bank of Hornersville, N. Y., closes doors with liabilities of $75,000. 30-Second national. of Toledo, O., goes into voluntary liquidation.
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BANK FAILURES. Jan. 17-State, Elmwood, Ill. $60,000. 21-National, Paola, Kan., suspended. 31 - -First national, Larimore, N. D., $71,754. Feb. 24 Bank of Southern Baltimore, $170, 000. Mar. 16-Home savings, Sioux City, Ia. $60.000 Benson savings, Waterford, Pa., $10,000. 24 Bank of Merriam Park, St. Paul, Minn. People's state, Philadelphia, nearly $1,000,000. 25 Guarantors' Finance Co., Philadelphia, $1,047,500. Jun. 7-Delaware national, Delhi, N. Y., $25,000. 29 - -Thomas J. Kirby, private, Abilene, Kan., $283,000. Jul. :20-Commercialstate, Marshalltown, Ia. 21-German savings, Doon, la., $59,474 Northern, Lexington, Ky. (suspended) 23 Tawas savings, Tawas City, Mich. (suspended). Aug. 11-Bank of Waverly, Ill $150,000. 27-Fillmore county, Preston, Minn., $150,000. Sep. 14-D. F. Parsons, private, Burr Oak, Mich., $100,000. 15-Jasper, Aia. bank, $65,000. 26 3-Allegheny, at Clifton Forge, Va., liabilities, $50,000. Oct. 4-Tradesman's national, at New York, $2,000,000 due depositors. Liabilities placed at $3,800,000. 13-Tioga national, of Oswego, N. Y., closed. 10 -First national of Neligh, Neb., liabilities $108,000 German national of Pitts burgh, Pa., liabiliteis, $2,000,000. 21 - -First national, of Lisbon. O., capital $50,000- closed: resumed on Nov. 15. 29 Second national, of Springfield, O., goes into liquidation. Nov. 5 -First national, of Flushing., O., sus pends. -First national, of Emporia, Kan. closed. 28 Bank of Hornersville, N. Y., closes doora with liabilities of $75,000. 30 Second national, of Toledo, O., goes into voluntary liquidation. Dec. 5-American savings, at Charleston, S. C., placed in hands of receiver. Liabilities, $100,000.
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during the recent contest. He was appointed receiver of the defunct National Bank of Paola, and in 1898 was a candidate for state auditor against George E. Cole, Cole beat him, but Frank Grimes appointed him assistant state treasurer, in which position he has now served nearly four years.
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born in 1866. He came to Clay county, Kansas, in 1870, and he was brought up on a Clay county farm. In 1888 he went to Hill City and has since engaged in the banking and real estate business. He represented Graham county in the legislature in 1895 and was a delegate to the last Republican national convention J. R. BURROW Joel R. Burrow, Republican candidate for secretary of state, came to Kansas during the seventies and located at Smith Center. His first work was to carry the mails for Uncle Sam across from a station in Nebraska through Smith Center to Osborne. He saved a little money and invested it in real estate. Then he saved some more and invested that the same way. He kept on buying land and making more money until he had enough to start a bank, and he is at the head of the First National bank of Smith Center, and is now credited with being one of the wealthiest men in the Sixth district. It is a peculiar fact that he had no opposition whatever for secretary of state an office which pays as well with as little work as any elective office in the state. T. T. KELLY Thomas T. Kelly, candidate for state treasurer, is a native Kansan. He was born down in Johnson county and lived there until he grew up when he moved into the adjoining county of Miami, where he farmed for some time. He was elected county cleck of Miami county, and it was his record during the four years that he held that office that has been so vigorously assailed during the recent contest. He was appointed receiver of the defunct National Bank of Paola, and in 1898 was a candidate for state auditor against George E. Cole. Cole beat him, but Frank Grimes appointed him assistant state treasurer, in which position he has now served nearly four years. SETH G. WELLS Seth G. Wells, candidate for state auditor, was born 39 years ago. His father moved to Kansas when he was six years old and settled where the town of Erie now stands, and Wells has lived there ever since. He was connected with the Erie Republican-Record for several years until he was appointed postmaster of Erie four years ago, and within the past week he has purchased the paper for himself. Wells is extremely popular in his part of the state. C. C. COLEMAN C. C. Coleman is the third candidate for attorney general which the Republican party has selected from Clay Center. The first was F. B. Dawes and the second was A. A. Godard, although Mr. Godard claimed Topeka as his residence at the time of his election. Mr. Coleman was bred in old Kentucky but he left the blue grass state years ago and came to Kansas, settling at Clay Center. He has never mixed to a great extent in politics, and lacks a whole lot in being a mixer, preferring to devote himself to the practice of law, and in his profession he has won considerable distinction in his part of the state. I L. DAYHOFF I. L. Dayhoff, candidate for superintendent of public instruction, is at present serving his third term as superintendent of Reno county. He was formerly a railroad man and spent considerable time as fireman on the Southern Pacific railroad before coming to Kansas. Although still comparatively a young man he has traveled extensively, not only in the United States, but in Canada, Mexico and Cuba. He is recognized as a leader in educational circles in the Seventh district. C. H. LULING Charles H. Luling, candidate for superintendent or insurance, is a native of the state of New York. He was born in 1855, but came to Kansas in 1879 and located at Wichita. He was a printer by trade but finally went into the insurance business and gained a first class knowledge of insurance of all kinds. He is now general agent at Wichita for the New York Life. He has served as clerk of the district court in Sedgwick county and also was elected to represent his
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urer at the time of these irregularities are said to have occurred or either of the three county commissioners who were members of the board at that time were candidates instead of me, and their can- didacy conflicted with the ambitions of certain men in Miami county, they would be compelled to answer for these irreg- ularities instead of me. "After my term as county clerk ex- pired, I went into the hardware and fur- niture business at Paola. For four years the firm of Kelly & Allen did a business of about $30,000 a year and no customer of that firm or no wholesale house ever had a dispute or lawsuit on account of any business transaction with the said firm. "The failed National Bank of Paola, for which I was receiver, was wound up by me after having handled a large amount of money, and gone through a long series of litigation. It was closed up in a satisfactory manner to the de- positors of the bank, and I received es- pecial commendation from the controller of the currency. "Since I have been assistant state treasurer I have received and disbursed more than $25,000,000, have been subject to periodical examinations by a board, of which the state auditor, the best ac- countant in the state, is a member, and no question was ever raised by them as to the regularity of the manner of keep- ing the accounts of the state. "I sought to promote harmony in Mi- ami county politics at the late primary election held for the nomination of coun- ty officers. Many of my friends voted for the nomination of Major Remington for the legislature, believing that his nomination, above all others, would have a tendency to promote the desired har- mony. In the election of the delegates to the county convention, which elected delegates to a judicial convention, I and my friends were assured by Mr. Reming- ton, Mr. Greason, Mr. Thomas, Mr. She- rer and nearly all of those who are leaders of the opposing faction, that there would be no hostile demonstration toward me me; that it would be a coun- ty convention solely for the purpose of nominating Mr. Sheldon judge for that judicial district. Many of my friends did not attend the caucuses, I was not in the town when the caucus was held. There was no issue in the election of the delegates farther than that it was thought that if the opposing faction were allowed to nominate the county ticket we could then all join in and help elect it. I will receive as many votes in that county as any candidate on the state ticket. I will receive as many votes as Major Remington for the legislature. We will all carry the county and be elected. "It has recently been suggested by sev- eral newspapers that I should resign as a candidate for treasurer in the interest of the whole ticket. In most instances the editors of these papers have been prompted by the influences which have sought my ruin in order to bring about that result With a few exceptions, I do not desire to question the honesty and sincerity of purpose of those publishers who have taken that position. "Under no circumstances, however, can I accept the suggestion. Such a course would be a tacit admission of the truth of the charges which have been malici- ously and falsely made against me, and I cannot conceive of any conditions that would justly call for such a sacrifice on my part. "I assert again that I have never knowingly had one penny of the money of Miami county which did not belong to me. I am not responsible for the politi- cal conditions which these charges have created. I do not yield to any man in de- votion and loyalty to the Republican party, and sincerely and earnestly desire its success, but I will not be coerced by political assassins into doing that which is not warranted by fairness and right. In justice to myself, my family, my fut- ure, and to candidates who may hereaf- ter be subjected to the same cruel and pernicious persecution which I have suf- fered, as well as the host of loyal friends who have honored me by their unfalter- ing confidence under the most trying cir- cumstances, and with absolute faith in the sense of fair play never found want- ing in the people of Kansas, I shall re- main a candidate until the polls close on election day." At a meeting of the directors of the State Savings bank, held yesterday, a resolution was adopted to pay interest on savings deposits at the rate of 4 per cent per annum, that being the prevailing rate paid by similar institutions in the eastern states. See their ad in another column. # JOINS COLOMBIAN FORCES