7068. Topeka Savings Bank (Topeka, KS)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
savings bank
Start Date
January 31, 1878
Location
Topeka, Kansas (39.048, -95.678)

Metadata

Model
gpt-5-mini
Short Digest
1bf16893

Response Measures

None

Description

Articles report Topeka Savings Bank suspended end of January 1878 due to contagion from Kansas City bank failures/ runs, then resumed business under an arrangement with depositors on Feb 2, 1878. No explicit standalone run on this bank is described prior to the suspension; suspension appears caused by runs/failures elsewhere (local_banks). Dates corrected from '31st ult.' (31 Jan 1878) and '2d' (2 Feb 1878).

Events (2)

1. January 31, 1878 Suspension
Cause
Local Banks
Cause Details
Contagion from failures and heavy runs in Kansas City banks (First National and Commercial National) and regional banking panic spreading to Topeka.
Newspaper Excerpt
THE Topeka, Kan., Savings Bank suspended on the 31st ult. Deposits, $140; notes, discounts and stocks, $225,000; real estate, $65,000.
Source
newspapers
2. February 2, 1878 Reopening
Newspaper Excerpt
Since the above was put in type the Topska Savings Bank, under an arrangement with its depositors, has resumed business.
Source
newspapers

Newspaper Articles (2)

Article from The Manitowoc Pilot, February 7, 1878

Click image to open full size in new tab

Article Text

THE WEST. THE objectionable feature of the Utah divorce law has beeen repealed. Hereafter bona fide residence in the territory for at least one year will be necessary before ob> taining a divorce. THE nephews and nieces of the late Frank Nevin, of Detroit, a wealthy tobacconist, are fighting over the will. THE Central branch of the Union Pacific railroad is now running trains 150 miles west of Atchison, Kansas. GEN. MILES reports from Tongue river that the main body of his command has has taken the field, and he only waits for 150 recruits from Fort Snelling before proceeding in person against Sitting Bull, who, he confidently believes, is in United States territory. His force will operate from Fort Peck as a central point. WM. WEINERS who shot and killed A. V. Lawrence, bar-keeper, in the saloon of the Theatre Comique, St. Louis, in January, 1877, was hung in the jail yard at St. Louis, on the 1st inst. THE Citizens' Bank of North Topeka, Kansas, closed its doors on the 1st inst.; but they only owe $26,000, and will be able to resume in ten days. THE Topeka, Kan., Savings Bank suspended on the 31st ult. Deposits, $140; notes, discounts and stocks, $225,000; real estate, $65,000. An assignment will be made. THE Sentinel at Yuma, Arizona, denies that the Southern Pacific Railroad Company is accumulating a large quantity of material at Yuma, destined for pushing the road through Arizona. THE First National Bank of Kansas City, suspended on the 30th ult., causing a slight run on other banks. MAJOR WALSH, commandant of Fort Walsh, Can., states that at no time since his arrival, has Sitting Bull crossed the line to American soil. The movement without his knowledge would be impossible, and he would promptly advise Gen. Gibbon in that event.


Article from The Emporia News, February 8, 1878

Click image to open full size in new tab

Article Text

The failure of the First National Bank of Kansas City on the 29th ult. was followed by the failure of the Commercial National, and heavy runs on the other banks there, but the rest stood the presure. The First National has liabilities to the amount of about $650,000, and the Commercial of about $125,000. February 1st the excitement reached Topeka, causing the suspension there of the Topeka Savings Bank, with liabilities of $140,000, and the Citizens' Bank of North Topeka, with liabilities of $26,000. Both promise to resume again. On the 2d the Merchants' National Bank at Fort Scott suspended, with liabilities of about $150,000. Since the above was put in type the Topska Savings Bank, under an arrangement with its depositors, has resumed business.