7091. State Bank (Walnut, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
November 6, 1897
Location
Walnut, Kansas (37.601, -95.078)

Metadata

Model
gpt-5-mini
Short Digest
dbc18822

Response Measures

None

Description

Two contemporary notices report the State Bank of Walnut suspended/forced to close in early Nov. 1897. Article 1 cites injudicious investments and says depositors will be paid in full, indicating a suspension leading to permanent closure/liquidation rather than a temporary run-related stoppage.

Events (1)

1. November 6, 1897 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Forced to close because of injudicious investments (poor/unsound investments led to suspension/closure).
Newspaper Excerpt
The State bank, of Walnut, was forced to close because of injudicious investments. Depositors will be paid in full.
Source
newspapers

Newspaper Articles (2)

Article from Baxter Springs News, November 6, 1897

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Article Text

Wichita last week was a big success. A. Dobson, Ottawa, is the new president; F. M. Bonebrake, Topeka, secretary, and J. W. Thurston, Topeka, treasurer. Next meeting will be at Leavenworth. The state was divided into four groups, and meetings will be held annually by groups. A committee was appointed to confer with express companies upon the matter of rates for shipping currency. Judge Fitzwilliams, at Leavenworth, has declared void that part of the new anti-blacklisting law which requires employers to furnish written reasons for discharging employes. Senator Harris says the recent decision in the stock yards case gives states the right to control elevators, warehouses, street railways, gas companies, telegraphs and telephones. At a wedding feast in Jewell county the other day 20 turkeys were roasted and the whole township turned out. Steve Paul is under arrest at Garrett charged with murdering his aunt, Mrs. Isaac Paul, near that place two weeks ago. The State bank, of Walnut, was forced to close because of injudicious investments. Depositors will be paid in full. Rev. H. B. Fleharty, Gov. Leedy's executive clerk, will open a law office in Osage City and run for congress next year. A Topeka dispatch said that ex-Gov. Humphrey, of Independence, was a "receptive" candidate for United States marshal. W. L Trumbell, a Topeka business man, was run over and killed by a pas. senger train in the railroad yards at Kansas City, Mo.


Article from The Democratic Advocate, November 6, 1897

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Article Text

McKinley's Prosperity (?) Increasing. Elizabeth Holthaus and John H. Holthaus, Baltimore, Md., trading as E. Holthaus & Co., dealers in paints, made a deed of trust. Capenter Bros., dealers in general merchandise in St. Mary's county, Md., have made an assignment for $6,000. Schluer & Foulkes, dealer in men's furnishings, at Terre Haute, Indiana, have given a chattel mortgage for $5,880. AKRON, OHIO, Oct. 30.-Late this afternoon, Richard P. Marvin was appointed receiver of the Wesner Company, the big printing establishment, with works here and a branch in Chicago. The liabilities are given as $800,000 and the assets at $4,000,000, the company being capitalized for $3,500,000. Some time since the company negotiated a loan of $1,000,000, to be paid in installments. At Altoona, Pa., judgment notes for $13,264 have been entered against David Gansman, dealer in clothing. Metzenbaum & Krohn, Cleveland, Ohio, shirt manufacturers, have had a chattel mortgage foreclosed. Fredericka Friedman, Rockford, Illinois, dealer in clothing, has given a bill of sale for $5,000. State Bank of Walnut, Kansas, has suspended. Raphael & Glaser, Weatherford, Texas, dealers in dry goods, have given a trust deed. The total number of business failures reported throughout the United States last week were 219, compared with 205 for the previous week. Bernard Lippman, a furrier, Baltimore, Md., has made an assignment.