6967. Bank of Pleasanton (Pleasanton, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 17, 1893
Location
Pleasanton, Kansas (38.178, -94.711)

Metadata

Model
gpt-5-mini
Short Digest
1d7e365a

Response Measures

None

Description

Multiple contemporaneous articles (dated July 17–18, 1893) report the Bank of Pleasanton as one of six Kansas state banks taken into possession by the State Bank Commissioner during the July 1893 financial flurry. The accounts describe a suspension by state authority; no reopening is reported in these items, so I classify this as a suspension that led to closure/receivership.

Events (1)
1. July 17, 1893 Suspension
Cause
Macro News
Cause Details
Taken into possession by the State Bank Commissioner amid the July 1893 financial flurry (widespread money scarcity/panic); suspension appears driven by the broader systemic crisis rather than a bank-specific scandal or a discrete rumor.
Newspaper Excerpt
Six Kansas State banks went down in the financial flurry to-day. They are the ... the Bank of Pleasanton ... The banks have all been taken possession of by the State Bank Commissioner.
Source
newspapers

Newspaper Articles (3)
1. July 18, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, July 18, 1893

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Article Text

SUSPENDED AND CLOSED. Two More Kansas City Institutions Unable to Stand the Pressure. KANSAS CITY, Mo., July 17.-The Mis. souri National Bank suspended.payment and closed its doors at 11:45 o'clock this morning. and the Grand-avenue Bank, a private institution. assigned this morning to James P. Pickel, who immediately took charge. The assets of the latter are placed at $200,000 and the liabilities at $140,000. The Grand-avenne Bank holds ample giltedged securities to meet obligations, it is claimed, and the officials say they expect to resume business shortly. It was rumored Sat day that this bank had closed, but it appears the officials secured money sufficient to tide them over till to-day. when it was hoped some other securities could be realized on. On account of the scarcity of money. bow. ever, this was impossible. Confidence in the ability of the bank to pay dollar for dollar is expressed by other bankers here and no excitement over the temporary sus* Dension is manifested. A. Lambert is president. H. Stubenrauch vice president, and H. C. Lambert cashier of the Grand-ave nue Bank. It was despite assertions of strength and the publishing of a favorable statement Saturday that the Missouri National Bank was taken possession of by the Controller of the Currency shortly before noon today. The officers show the assets at $1.254.785 and the liabilities, excepting capital stock, at about $700,000. During the run on the different national banks here Saturday quite a run was precipitated on the Missouri National, though the withdrawais were made by small depositors. This morning. however, several large depositors withdrew their money. and the amounts, running well up into the thousands, made further continuance impossible. For awhile slight confidence was restored by Ford Reim, a local brewer, depositing $32.000 in the concern. but this soon lost its effect for good. Aid had been asked from the Third National Bank of New York city, and the assistance was on the way. July 1 the bank paid the regular annual dividend of 3 per cent. The officers declare that depositors will be paid dollar for dollar. The Missouri National is a new bank, having opened in January. 1891. It has a capital stock paid in of $250,000 and its surplus 18 $6,000. According to the statements Saturday. issued in compliance with the request of the Controller of the Currency, cash and sight exchange were placed at $271,024 and the deposits at $900,763. The officersal D. V. Rieger. president; Henry C. Kaupf, vice president; R. D. Covington. cashier. Six Kaneas State Banks Flunken TOPEKA, Kan., July 17.-Six Kansas State banks went down in the financial flurry to-day. They are the bank of Ritter & Doubleday, of Columbus; the Johnson City Bank, of Johnson City; the Bank of Weir City, the Bank of Pleasonton, the Caney Valley Bank, of Caney. and the Bank of Meade. at Meade Center. It is impossible to obtain statements at this time. The banks have all been taken DOB. session of by the State Bank Commissioner. Other Failures. TOPEKA. Kan.. July 17.-State Bank Examiner Briedenthal says Hood & Kincaid's Bank, of Pleasanton, Kan., has failed and is in the hands of Deputy State Bank Commissioner Oshorna The canital stock in

2. July 18, 1893 The Times Richmond, VA
Article from The Times, July 18, 1893

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Article Text

Five State Institutions in Kansas Go Under-Co'oredo Failures. DENVER, COL., July 17.-The People's Savings, the Rocky Mountain Dime and Dollar and the Colorado Savings Banks failed to open their doors for business this morning. The assets of the People's Savings Bank are $1,500,000; liabilities, $1,350,000. Prestdent Lawrence, of the People's National Bank, says the failure of the savings institution will in no way affect the People's National Bank. It is understood that all the consignments were preconcerted and for selfprotection of the depositors. The direct cause of the failure was the universal hard times and inability to realize on securities. They declare each depositor will be paid in full, and that the institutions will again be opened. The bank is taking advantage of the thirty and sixty days' notification law, and is paying out no amounts over twenty-five dollars. President Lawrence, of the People's Savings Bank, in a statement this morning, said the bank up to six weeks ago had a most successful career, having its in deposits $1,300,000. and had paid to depositors in interest $112,482. The causeless run began on May 1st, and really continued up to last Saturday night, when the entire available means of the bank were exhausted, and nothing was left but to assign. The officers of the institution pledged their estates to its support. Most persistent efforts were made to obtain temporary assistance to tide the bank over, and up to four days ago this necessary assistance was promised by Eastern corresponding banks; but since the doings of the ecentssilver convention in this city became known, the promises were cancelled by telegraph, and no alternative was left us-with notices amounting to nearly $500,000 for withdrawals of deposits maturing within the near future staring us in the face and the cash on hand paid down to $223-but to make a full assignment for the protection and benefit of all. The failure of the Savings Bank will in no way affect the People's National Bank, which, with all other national banks, is perfectly sound, and anticipate no trouble outside of savings banks. First ATLANTA, GA., July 17.-The National Bank at Cedartown, Ga., closed its doors to-day. The suspension was by inability to raise funds at caused of a once out of collaterals. Rumors shortage on the part of one of the bank officials are denied, and it is asserted that depositors will be paid in full. The bank will resume as a State bank soon. The bank was capitalized at 75,000; surplus, $9,000. KANSAS CITY, MO. July 17.-The Star's special from Topeka, Kan., says: State Bank Examiner Breidenthal says the Hood & Kincaid Bank, of Pleasant, Kan., has failed. The capital stock is $80,000. No statement is given. Commissioner Breidenthal has information of a number of other bank failures in the State, but he declines to give the names until he has taken possession. KANSAS CITY, July 7.-The bank of Grand Avenue and the Missouri National Bank suspended payment at noon to-day. Six Kansas Banks Go Under. TOPEKA, KAN., July 17.-Six Kansas State banks went in the financial flurry to-day. They are the Bank of Riter and Doubleday of Columbus, the Johnson City Bank, of Johnson City: the Bank of Weir City, the Bank of Pleasanton, the Bank of Caney Valley, the Bank of Caney and the Bank of Meade, at Meade Centre. It is impossible to obtain statements at this time.

3. July 18, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, July 18, 1893

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Article Text

The East Refuses Denver Money. SAVINGS BANKS GO UNDER. Assistance Would Have Been Given but for the Doings of the Silver Convention. Special to THE MORNING CALL DENVER, July 17.-The People's Savings Bank, the Rocky Mountain Dime and Dollar and the Colorado Savings Banks did not open their doors this morning. The assets of the People's Bank are $1,500,000; liabilities, $1,330,000. President Lawrence says the failure will in no way affect the People's National. The Colorado Savings Bank statement shows: Deposits, $486,000; assets, $73,064 in excess of liabilities. The assets of the Rocky Mountain Dime and Dollar Savings Bank are $156,803; liabilities. $105,654. The officers of all three say the debts will be paid in full. It is understood that all assignments were preconcerted for self-protection and the protection of depositors. President Lawrence of the Peoples' Bank says the bank had about completed arrangements for temporary relief from Eastern banks, but the doings of the silver convention here caused them to withdraw all aid and the bank had no other recourse but to assign. Stocks are stagnant. The realizations produced uneasiness. Foreign securities closed lower than Saturday. KANSAS CITY, July 17.-The Missouri National Bank suspended payment just before noon, and the Comptreller of the Currency took possession. There is no statement, It has a paid-up capital of $250,000. The statement by the officers showed assets $1,254,735. liabilities $700,000. Assistance was on the way from the East, but did not arrive in time, as the depositors were making heavy draits on the bank. The officers declare the depositors will be paid in full. The Grand-avenue Bank, a private in. stitution, suspended this morning. The assets are $200,000; liabilities, $140,000. It is expected to resume shortly. It is not doubted among bankers that it will pay dollar for dollar. There was no well-defined run on any of the other national banks. although some deposits were drawn ou: TOPEKA, Kans., July 17.-Six Kansas banks went down in the financial flurry to-day. They are: Bank of Ritter & Doubleday, of Columbus; Johnson City Bank, of Johnson City; Bank of Wier City; Bank of Pleasanton, Caney Valley Bank, of Caney, and Bank of Meade, at Meade Center. It is impossible to obtain statements of their condition to-night. The banks have all been taken possession of by the State Bank Commissioner. PHILADELPHIA, July 17.-John J. McConnell, morocco and cotton manufacturer, has assigned. The liabilities are $200,000 and the assets will exceed $100,000. NEW YORK, July 17.-The Duplex Street Railway Track Company, incorporated in West Virginia, has failed. The liabilities are $150,000. ATLANTA, Ga., July 17.-The First National Bank of Cedartown, Ga., which has a capital of $75,000, closed to-day. The suspension was caused by the inability to realize on collaterals. The bank will resume as a State bank soon.