7067. Topeka National Bank (Topeka, KS)

View Charter #1945 on SPMC

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 1945
Charter Number: 1945
Start Date: August 1, 1878*
Location: Topeka, Kansas (39.048, -95.678)

Metadata

Model: gpt-5-mini
Short Digest: 1defa43d

Response Measures

None

Description

Multiple contemporaneous newspaper dispatches (early August 1878) report the Topeka National Bank closed/ suspended (reports cite either Aug 5 or Aug 6, 1878). The suspension is attributed to a large amount of exchange tied up at the failed Mastin (Mastin/Mastis) Bank of Kansas City — a correspondent/bank failure contagion effect. Papers indicate a receiver would be or has been appointed and the bank was expected to wind up as a national bank, implying permanent closure rather than an immediate reopening. I corrected minor OCR variants of 'Mastin' (appears as Mastis/Mastin) but left the Topeka bank name as given.

Events (5)

1. March 1, 1872 Chartered

Source: historical_nic

2. August 1, 1878* Other

Newspaper Excerpt: A receiver will of course be soon appointed, and the above statement of assets and liabilities shows that the Topeka National bank will wind up as a National bank at least.
Source: newspapers

3. August 5, 1878 Suspension

Cause: Correspondent
Cause Details: Large amount of the bank's exchange (funds) was held by the failed Mastin (Mastis) Bank of Kansas City, causing the Topeka bank to suspend.
Newspaper Excerpt: The Topeka National Bank closed its doors on the 5th. The officers state that depositors will be paid in full.
Source: newspapers

4. August 7, 1878 Voluntary Liquidation

Source: historical_nic

5. * Receivership

Newspaper Excerpt: The affairs of the bank are now in the hands of the Comptroller of the Currency, and he has been telegraphed to. ... The depositors will petition the Comptroller to allow the bank to wind up its own affairs without interference on the part of government officers.
Source: newspapers

Newspaper Articles (12)

1. August 7, 1878 The New York Herald New York, NY

Article from The New York Herald, August 7, 1878

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ANOTHER BANK SUSPENSION. TOPEKA, Kan., August 6, 1878. The Topeka National Bank closed its doors yester day morning. The president says it was caused by the large amount of exchange held by the Mastis Bank when it failed. The amount of deposits is $130,000. Amount available to pay depositors, includ. ing currency and exchange, $30,000; at Washington, $20,000; loans and discounts, $105,000. The affairs of the bank are now in tue hands of tue Comptroller of the Currency, and be has been telegraphed to. There is little feeling, the idea being prevalent that the bank will pay in full all deposits. There la DO truth in the report that $60,000 of the Normal School Fund of the State of Kansas is held by the Mastin Bank. Several treasurers bad money in the bank, but It was on their own account. The feeling on the streets to-day in regard to the closing of the Topeka National Bank has been growing stronger that the depositors will be paid in full. At a meeting of depositors held to-night a partial statement of the condition of the bank was given. The lowest values have been placed on the securities, bonds, &c., and it is thought now that there will be $193,000 assets, with which to pay $132,000 habilities. The officers of the bank have offered to turn in their private property as collateral. The government bank agent, H. B. Cullum, is here. and will report that he thinks the depositors will be paid in full The depositors will petition the Comptroller to allow the bank to wind up its own affairs without interference on the part of government officers.

2. August 8, 1878 The Wichita City Eagle Wichita, KS

Article from The Wichita City Eagle, August 8, 1878

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The Topeka Bank Busted. The Topeka National Bank, F. W. Giles, President, thought to be one of the soundest institutions in the West, suspended on Monday. Topeka was more than startled.

3. August 8, 1878 The Milan Exchange Milan, TN

Article from The Milan Exchange, August 8, 1878

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son and left her insensible. They stopped the cries of the farmer's little daughter by rolling her up tightly in a blanket, and when unrolled the child was nearly suffocated and died in a short time. Michigan's wheat crop estimated at 30, 000,000 bushels, an average yield of from 19 to 20 bushels per acre. The village of Alts, near Salt Lake, Utah, was completely destroyed by fire on the night of the 1st. The fire was caused by Judge Varn lying down on a lounge in the Swan House and falling asleep with a lighted cigarin his mouth. His charred remains were found in the building. The village comprised about 1,200 buildings, all wood, and the loss is over $100,000. The Mastin Bank of Kansas City, Mo., closed its doors on the 3d, aftera brief run. The cause of the failure A variously stated, but believed to be principally on account of the bank's trying to carry some $800,000 in water bonds in addition to other outside entanglements. The Mastin Bank was the principal depository of Missouri State funds, having on-deposit at the time of its suspension nearly $300,000 of State more l'he'suspension veryiseri>. ously affects the business operations of Kansas City, temporarily at least, its depositors comprising many of the leading business houses of the city and adjacent country. The managers of the bank say that their assets are fully sufficient to pay all liabilities. R. M. Bishop & Co. the leading wholesale grocery firm of Cincinnati, have gone into bankruptcy. Gov. Bishop, of Ohio, is the senior member of the firm. The towboat Brilliant exploded her boilers near Gallipolis, 0., on the 3d, killing Capt. Shoemaker and John George, and fatally injuring several others on board. The boat is a total wreck. M.P. Wood, a prominent citizen of Rochester, Minn., was fatally stabbed by a tramp on the 3d. The murderer is in custody. The Topeka (Kansas) National Bank closed its doors on the 5th. The officers state that depositors will be paid in full, The failure of the Mastin Bank of Kansas City was the direct cause of the suspension. A Boise City (Idaho) dispatch, 5th, says The mountains are full of Indians. Gen. Howard, with his staff and his main body of troops, is between Silver City and Jordan Valley. It is reported, 35 of White Bird's Nez Perces have surrendered. Five men and two women are reported murdered by hostiles on Bowman River, viz.: Geo. Miller, a heavy stock raiser, John Miller, his wife and daughter, Robert McMullery, and one other man.

4. August 8, 1878 The Weekly Democratic Statesman Austin, TX

Article from The Weekly Democratic Statesman, August 8, 1878

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TELEGRAPHIC NEWS. NOON DISPATCHES DOMESTIC. Kearney's Communism. BOSTON, August 6 -The following resolutions were adopted at the Kearney meeting last night WHEREAS, This republic, instituted for the avowed purpose of advancing and conserving the interests of the mass, has been reduced to a plutocracy that employs the Republican and Democratic parties in the perfidious work of establishing thieving monopolies and class privileges that sap the blood of national industries 80 that it can be lapped by the vampires of capital. Whereas, All laws enacted that are not in the direct and open interest of the producing and labor classes are crimes against the spirit and prosperity of this republic, for which legislators should be branded with infamy of criminal imprisonment. Whereas, An intamous, if not a criminal class, of legislation has been heaped upon the industries of the nation by political parties until the burden has become & torture of the mass from which there is no escape except by uniting the material interests of the producing and laboring people of all classes in such political action as will give them their rightful control of State and national legislation, a privilege of which they have been plundered, and thereby restore this government to the just and lofty purposes for which it was instituted by our fathers; therefore, Resolved, By the citizens of Boston, in Fanueil Hall assembled, that it is in the highest and truest interest of all industrial classes in New England, that they should extend P. hearty, cordial and united support to Dennis Kearney, the great and efficient apostle of the laboring classes of California, who comes among them for the noble purpose of uniting them as he united their brothers in his own State in that political action which 18 necessary to restore this government to the just and human principles for which it was instituted, so that the prosperity of this people may be recalled and firmly established. Kearney in his harangue last night used much of his vocabulary to vilify the Associated Press; reading from a San Francisco Chronicle dispatch. He attributed it to the Associated Press. No such dispatch was sent from this office. The only dispatch we have sent, besides the simple announcement of his arrival and the programme for the meeting last night, was a report of the interview between Butler and Kearney, furnished by Kearney's private secretary, and afterwards peddled out to Boston morning papers for $5 each by the secretary. Railroad Accident. ELIZABETH, N. J., August 6.-Last night the coal train west bound on the Lebigh Valley Railroad, a mile and a half west of Bound Brook, ran into a section of a train ahead, smashing several coal cars and strewing the wreck across both tracks. The eastward bound train came along under full headway, ran into the wreck and was thrown from the track and the fireman killed and the engineer bruised. PHONIXVILLE, Pa., August 6.-A terrific storm, accompanied by thunder and lightning, passed over this town last night, doing considerable damage. Robert Townsend and Erwin Roberts, of Philadelphia, were overtaken by the storm and took shelter under a tree, which was struck by lightning. Townsend was instantly killed and Roberts is not expected to recover. The Saratoga Races. SARATOGA, August 6.-Extra day of races. First race-for two-year olds; five furlongs, Dellinds won; Monter, second; Dan Sporting, third; time, 1:4 1-2. Second race-handicap sweepstakes; mile and 8 half; Bonnie Wood won; Hattie F., second; Inspiration, third time, 2:40 1-2. Storm in Pennsylvania. CANTON, Penn., August 6.-This village was visited last night by 8 heavy thunder storm. The reservoir belong ing to the Canton Water Company gave way, doing considerable damage. The large sash and blind factory of Coon & Brain was entirely swept away, together with several banks and shops. Many dwelling houses were filled with water, the inmates barely escaping with their lives. Most of the bridges on Towanda creek were swept away. No lives lost. Bank Suspension. TOPEKA, Kan., August 6.-The Topeka National Bank has closed its doors. The president says it was caused by the large amount of exchange held by the Mastin Bank when it failed. It is thought it will pay deposits in full. Failures. CHICAGO, August 6.-James Clements, former partner in firm of Clements, Morton & Co., has filed a petition of bankruptcy. Liabilities, $117,000; assets, $75,000; mostly encumbered lands.

5. August 8, 1878 The Weekly Democratic Statesman Austin, TX

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Bank Suspension. TOPEKA, Kan., August 6.-The Topeka National Bank has closed its doors. The president says it was caused by the large amount of exchange held by the Mastin Bank when it failed. It is thought it will pay deposits in full.

6. August 9, 1878 Perrysburg Journal Perrysburg, OH

Article from Perrysburg Journal, August 9, 1878

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. of yellow fever reported, deaths, seven; total ; cases to date, 233. New cases reported on the 4th, twenty; deaths, eleven. Cities on the , Gulf coast and along the Mississippi River are taking precautionary measures against h the spread of the epidemic by enforcing the quaran tine regulation I The tow-boat Brilliant in charge of six , barges of salt, exploded her boilers and instantly sank near Gallipolis, Ohio, on the 3d. Her crew numbered eighteen men, of whom S three were killed and four wounded. t The wholesale grocery house of R. M. Bishop & Co., Cincinnati, and of which the Gov$ ernor of Ohio, R. M. Bishop, is at the head, suspended payment on the 3d. The reason assigned is the heavy shrinkage in property. A meeting of the eastern creditors will be B held in New York. Liabilities and assets unknown. The Mastin Bank, of Kansas City, Mo., f failed on the 3d. Liabilities, $1,900,000; as: sets nominally about the same. Gov. Nicholls, of Louisiana, signed the death warrants of Wilson Childress, Fountain Banks, Octave Loure and Aaron Carter, on the 3d. The condemned persons will be executed Aug. 14th. Gov. Cullom, of Illinois, was appealed to formilitary to protect the coal mines at Stanton, Macoupin County, on the 3d, which were threatened with destruction by striking miners. The Sheriff of the county was ordered to the scene of disturbance with instructions to call to his aid such force as may be necess sary. A dispatch from Silver City, Idaho, dated Aug. 3, says that over 100 volunteers from Boise and Owyhee are in pursuit of a band of hostile savages, who are traveling leisurely through the country, helping themselves to stock along the line of march. The Indians Chinamen near from killed A letter four Capt. Hawley, Munday's dated he Ferry. Cold Springs, Overland Road, Aug. 2, says sent scouts out that day, who returned with the information that the Indians were in large force on both sides of Snake River at Big Bottom, near Brunea. The Indians charged the I scouts for five miles, firing at them. Returns from the North Carolina election indicate that the Legislature will be largely Democratic, though thus far the Democrats have lost nine members. Gen. Howard passed through Silver City on the 5th with three of his staff officers and twenty cavalry, on their way from Malheur to Camp Lyon. The General is under the impression that the Indian war is about over. Forsythe, with six companies of cavalry, is going through the Jumper Lake country and Stein's mountains. They have with them a considerable number of Indian prisoners. The hostiles have been destroying much property in Stein's mountains recently. Chiefs Winnemucca and Natchez are at Malheur Agency, and are making strenuous efforts to secure pardon for the hostile Piutes. Twenty-eight new cases and twelve deaths from yellow fever were reported in New Orleans on the 5th. The Topeka, Kan., National Bank closed its doors on the morning of the 5th. The cause assigned is that a large amount of its exf change was held by the Mastin bank when it failed. Amount of deposits, $130,000; assets claimed, $155,000. In the elections in Kentucky on the 5th several points gave majorities for the Nationals. In Louisville the Catholics and antif Catholics were opposed, the anti-Catholics winning.

7. August 9, 1878 The Emporia News Emporia, KS

Article from The Emporia News, August 9, 1878

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More Bank Troubles. The Mastin bank, of Kansas City, which, since the failure of the First National Bank there last year, has been the leading bank of that place, suspended last Saturday, after a heavy run of four days. It had stood the run which closed the First National, and having succeeded to a large part of the business of that institution, was considered a very strong bank, Its last statement, July 6, 1878, showed the following business: Loans and amounts due from other banks $1,786,671 Cash on hand 109,055.57 $1,896,626.83 Deposits $1,629,595.78 Surplus of resources $265,171.05 Add real estate 69,002.43 Total surplus of resources $334,173.48 Whatever amount the bank was able to raise, however, by calling in its loans and amounts due from other banks, selling or mortgaging notes due it and its real estate, and borrowing all the aid that its stockholders and friends could muster, were inadequate to procure enough funds to stand the run, and on Saturday it succumbed, and a receiver, Col. Kersey Coates, was appointed to take charge of its affairs. Among the heavy deposits unpaid are about $12,000 Jackson county funds, $60,000 to $70,000 Kansas City funds and $200,000 State funds. These monies have been loaned out by the bank, and paid out to stop the run, and hence must be realized out of its assets, and the various treasurers concerned will of course have to make good all final deficit. The Mastin bank did business largely for the live stock men, and that interest at Kansas City will be considerably crippled. The grain men generally did business with the smaller banks there, and is comparatively unaffected. The Kansas City Times charges that the Daily Journal of that city, and St. Louis banking interests, the latter actuated by hostility to deposits of State funds in country banks, are largely responsible for the run which caused the Mastin bank to suspend. Some prominent parties in the bank seem to have undertaken to use their influence, and to some extent the bank resources in politics, and hence a hostility which vented itself upon them through the medium of a disastrous run on the bank. The failure of the Mastin bank was followed Menday by that of the Topeka National bank, on account of $30,000 of its funds being tied up in "the Mastin bank. The Topeka bank statement is as follows: Available to Day deposits: Currency and exchange $30,000 At Washington 20,000 Loans and discounts 105,000 [$155,000 Deposits 136,000 Surplus of assets including the

8. August 9, 1878 The Emporia News Emporia, KS

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Surplus of assets including the $30,000 in the Mastin bank $23,000 A receiver will of course be soon appointed, and the above statement of assets and liabilities shows that the Topeka National bank will wind up as a National bank at least.

9. August 9, 1878 The Morris County Chronicle Morristown, NJ

Article from The Morris County Chronicle, August 9, 1878

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George Avery and Frank Dilworth, and fatally wounding four men. The mill was blown into atoms. Loss, $8,000; no insurance. The disaffected savages in Oregon and Washington Territory are continuing their depredations, killing and plundering, whenever they get an opportunity. A Boise City dispatch says five men and two women were murdered by Indians on Bonneau river. At Anna, III., three ladies-Mrs. Smith, Miss Miller and Miss Matthias-while seeking shelter from a storm were instantly killed by the top of a large tree, which fell upon them. A dispute at a plenic near Frankfort, Ky., led to & desperate shooting and stabbing affray between two parties of men, three on a side: About thirty shots were fired and three men were seriously wounded before a stop was put to the row. The Louisiana Democrats held their convention at Baton Rouge, nominated candidates and adopted a platform which favors a greenback currency, demands the repeal of the resumption act, approves the House presidential election investigation and expresses sympathy for the labor classes. The Topeka, National Bank of Topeka, Kansas, has suspended payments. From Washington. Sitting Bull has made overtures to the Indian office for permission to return to the United States, insisting that he should not be held aocountable for any criminality on his part during the Indian war. The government authorities declined to entertain his proposition. The sixty-fourth call for the redemption of five-twenty bonds of 1865, consols of 1865, has been issued by the secretary of the treasury. The call is for $5,000,000. On the 1st of August the total national debt was $2,304,896,694.97, less $269,316,170.12 cash in the treasury. During July the debt was decreased $206,306.97. The customs receipts for July were $11,198,270, and internal revenue, $9.904,854. Compared with July, 1877, this is an increase in customs of $1,137,409, andin internal revenue, $1,140,179. Internal] Revenue Commissioner Raum has sent copies of a letter to the collectors of all the districts in the South where troubles have arisen on account of illicit distilling, setting forth the willingness of the government to deal leniently with all who will abstain from violations of the law. The Congressional commission appointed to reorganize the army, disbanded for the summer after being in session eight days at White Sulphur Springs, Va. It is reported that the commission agreed upon & bill reorganizing the army and making changes in the conduct of military affairs. It was agreed to hold the next meeting in New York on November 19. The excess of United States exports over imports for the last fiscal year amounts to $166,539,917. Washington has been visited by a flerce wind and rain storm, which completely inundated the lower part of the city, uprooted trees, unroofed houses, and did considerable damage. The total number of pieces coined at the United States mints during July was 2,033,100 and their value $3,627,983. A detailed statement of the receipts of internal revenue for the fiscal year ending June 30, 1878, shows that the $111,089,319 collected during the year were from the following sources, the collections from the same sources for the preceding fiscal year being given for purposes of comparison : 1878 1877

10. August 13, 1878 The Sedalia Weekly Bazoo Sedalia, MO

Article from The Sedalia Weekly Bazoo, August 13, 1878

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On the morning of the suspension of the Topeka National Bank. the Topeka Bank and Saving Institution hung a playcard on its front door saying; "This bank will pay all drafts and checks upon presentation." Norun was made on it.

11. August 16, 1878 Essex County Herald Island Pond, Guildhall, VT

Article from Essex County Herald, August 16, 1878

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says five men and two women were murdered by Indians on Bonneau river. At Anna, Ill., three ladies-Mrs. Smith, Miss Miller and Miss Matthias-while seeking shelter from a storm were instantly killed by the top of a large tree which fell upon them. A dispute at a pienic near Frankfort, Ky., led to a desperate shooting and stabbing affray between two parties of men, three on a side. About thirty shots were fired and three men were seriously wounded before a stop was put to the row. The Louisiana Democrats held their convention at Baton Rouge, nominated candidates and adopted a platform which favors & greenback currency, demands the repeal of the resumption act, approves the House presidential election investigation and expresses sympathy for the labor classes. The Topeka National Bank, of Topeka, Kansas, has suspended payments.

12. July 7, 1905 Evening Star Washington, DC

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RECEIVERS APPOINTED. To Have Charge of Failed Topeka National Bank. TOPEKA, Kan., July 7.-Cyrus Leland of Troy, Kan., and J. E. Hurley, general danager of the Atchison, Topeka and Santa Fe railway system, were today appointed temporary receivers of the properties of C. J. Devlin, plaled in voluntary bankruptcy on Thursday night. A bond of $250,000 will be required. Mr. Hurley's appointment was made at the request of the Santa Fe Railway Company through their attorneys. They will be in charge until the creditors elect trustees. ... "