7129. First Arkansas Valley Bank (Wichita, KS)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
February 5, 1891
Location
Wichita, Kansas (37.692, -97.338)

Metadata

Model
gpt-5-mini
Short Digest
bb61124c

Response Measures

None

Description

Multiple contemporaneous newspapers report that the First Arkansas Valley Bank of Wichita posted a notice on Feb. 5, 1891 that payment was temporarily suspended because of inability to make collections and to procure funds from correspondents amid a general stringency. No article in the provided set documents a reopening or receivership; classification chosen as suspension_closure because only a suspension is reported and there is no evidence of later reopening in these articles. If further articles show a reopening, episode_type should be revised.

Events (1)
1. February 5, 1891 Suspension
Cause
Correspondent
Cause Details
Notice states payment suspended due to inability to procure funds from correspondents and to make collections amid prevailing stringency.
Newspaper Excerpt
To Our Depositors: 'Payment temporarily suspended, owing to the impossibility of making collections and inability to procure funds at the present time from our correspondents, and to the great stringency now prevailing.'
Source
newspapers

Newspaper Articles (10)
1. February 6, 1891 Pittsburg Dispatch Pittsburgh, PA
Article from Pittsburg Dispatch, February 6, 1891

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Article Text

AN OLD KANSAS BANK SUSPENDS. The Assets Thought to Be Amply Sufficient to Cover the Debts. WICHITA, KAN., Feb. 5.-Just before the hour for opening this morning the following notice was posted on the door of the First Arkansas Valley Bank here: 6 To Our Depositors: "Payment temporarily suspended, owing to the impossibility of making collections and inability to procure funds at the present time from our correspondents, and to the great stringency now prevailing." The assets of the bank are said to be more than twice sufficient to pay all liabilities, which are about $125,000. The bank was the oldest in Southwestern Kansas.

2. February 6, 1891 The Morning News Savannah, GA
Article from The Morning News, February 6, 1891

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Article Text

A KANSAS BANK CLOSED. Its Assets Believed to be Double Its Liabilities. KANSAS CITY, Mo., Feb. 5.-A special to the Star from Wichita, Kan., says: "Just before the hour for opening, the following notice was posted on the door of the First Arkansas Valley Bank here: 'To our depositors: Payment is temporarily suspended, owing to the impossibility of making collections, and inability to procure funds at the present time from the correspondents, owing the great stringency now prevailing.' The assets of the bank are said to be more than twice sufficient to pay all liabilities, which are about $125,000. The bank was the oldest in Southwestern Kansas."

3. February 6, 1891 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, February 6, 1891

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Article Text

One More Kansas Bank. WICHITA, Kansas, Feb. 5-[Special]Just before the hour for opening, the following notice was posted on the door of the First Arkansas Valley Bank here: "To our depositors : Payment temporarily suspended owing to impossibility of making collections and inability to procure funds at the preser nt time from our correspondents, owing to the great stringency now prevailing."

4. February 6, 1891 The Morning Call San Francisco, CA
Article from The Morning Call, February 6, 1891

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Article Text

FINANCIAL TROUBLES. An Insurance Company in the Hands of a Receiver. CHICAGO, Feb. 5. - The Manufacturers' Mutual Insurance Company has been placed in the hands of a receiver. The liabilities amount to $50,000, in addition to the claims of policy-holders. The assets, it is said by the company officials, will amount to $25,000. A judgment was entered against the company yesterday afternoon for $400, and shortly after an application was made for the appointment of a receiver. WICHITA (Kans.), Feb. 5.-The First Arkansas Valley Bank here has suspended payment, owing to the impossibility of making collections and the inability to secure funds. The assets of the bank are said to be more than double the amount sufficient to pay the liabilities, which are about $125,000.

5. February 6, 1891 Evening Capital Journal Salem, OR
Article from Evening Capital Journal, February 6, 1891

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Article Text

A smallpox epidemic exists in Texas. The towns of Rusk and Overton and the country adjacent are infested, the schools are closed and a rigid quarantine established. The First Arkansas Valley bank, of Wichita, Kas., has suspended payment. The assets of the bank are said to be more than double the liabilities, which are about $125,000. The son of Mr. Punney, in Sheboygan, Wis., was burned to death by the destruction of a tenement this morning.

6. February 6, 1891 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, February 6, 1891

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Article Text

State Auditor Pavey made an examination last December and notified the company that he had discovered an insufficiency in the cash over and above its reinsurance reserve for the payment of icurred losses and expenses, such deficit amounting to $8,000. Forty days were given the company to make this good, but the company did not attempt to secure the money until Jan. 8, when an assessment of 25 per cent was levied. Little or nothing was paid on this assessment, and preferring not to wait any longer, the auditor notified Secretary Lithgow that the money must be paid in at once. A judgment was entered against the company yesterday afternoon for $2,400, and shortly after application was made for the appointment of a receiver. KANSAS CITY, Mo., Feb. 5.-A special to the Star from Wichita, Kan., says: Just before the hour for opening this morning, the following notice was posted on the door of the First Arkansas Valley bank, here: To Our Depositors-Payment temporarily suspended, owing to the impossibility of making collections and inability to procure funds at the present time from our correspondents owing to the great stringency now prevailing." The assets of the bank are said to be more than twice sufficient to pay all liabilities, which are about $125,000. The bank was the oldest in Southwestern Kansas. GRAND ISLAND, Neb., Feb. 5.-Charles A. Wiebes' clothing store closed on chattel mortgage. Liabilities, between $30,000 and $40,000. The assets are about the same. KANSAS CITY, Mo., Feb. 5.-A special from Springfield, Mo., to the Star says: King Bros., one of the oldest dry goods firm in the city, was closed this morning under a chattel mortgage. The liabilities are about $30,000; assets unknown. ST. LOUIS. Feb. 5.-John Thyson, who succumbed to the recent advance in the price of graln, will pay his creditors in full if giventime. To-day he makes the following offer: Twenty-five cents cash and 75 cents in notes at six and twelve months. All local creditors have accepted the terms. Chicago and Toledo parties are yet to be heard from.

7. February 7, 1891 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, February 7, 1891

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Article Text

A Wichita Bank Goes Under. 1 WICHITA, Kan., Feb. 6. - The First Arkansas Valley bank, the oldest in southwestern Kansas, posted a notice this morning that, owing to the impossibility to make collections and the stringency now prevailing, payment will be temporarily suspended. The assets are said to be more than sufficient to pay all liabilities, which are about $125,000.

8. February 12, 1891 Crawford Avalanche Grayling, MI
Article from Crawford Avalanche, February 12, 1891

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Article Text

Recent Failures. King Brothers' clothing store at Spring+ field, Mo., was closed on a chattel mortgage. The liabilities are $30,000. Charles A. Weiber's clothing store at Grand Island, Neb., was closed under a mortgage with liabilities of $40,000, and the First Arkansas Valley Bank at Wichita, Kan., suspended payment temporarily with liabilities of $125,000 and assets twice that amount.

9. February 13, 1891 Middlebury Register Middlebury, VT
Article from Middlebury Register, February 13, 1891

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Article Text

DOMESTIC. The First Arkansas valley bank at Wichita, Kan., has suspended. Work on the main grounds of the world's fair at Jackson park, Chicago, is to be begun at once. Steps have been taken in California to found in that State a colony of the persecuted Russian Jews. The bequest of the late Benjamin Thompson to New Hampshire for the establishment of an agricultural college is contested by his heirs. One child was smothered and another barely escaped death in a burning house at Providence Sunday. The parents had left the little ones locked up in the house alone. A Kansas judge has decided that a mortgage given by a settler on a United States claim before filing final papers is valid. If sustained by the supreme court, this will be good news to Eastern investors. Two white men entered the office of the Birmingham (Ala.) railway and supply company Saturday night, sandbagged the clerk John C. Matthews, and bound and gagged nim. Then they robbed the safe of $785 and escaped. No coal has been mined in any of the pits owned by the Frick, Schoonmaker or McClure coke companies in the Connellsville regions since Saturday. The 13,000 men are out on a strike. The workers' scale demands an advance of wages of about 182 per cent, all coal to be weighed instead of measured, and eight hours to constitute a day's work. The operators have demanded a reduction of 10 per cent on all classes of labor. William and George Butsairge, Matt Moldazes and John Lalurnikus, four Poles, have been committed to the county jail at Shenandoah, Pa., in default of $2500 bail each for murderously clubbing and stabbing five of their fellow countrymen who were instrumental in having a friend of one of the accused sent to jail for assault and highway robbery. The men named are ringleaders of a society which has for its main object the avenging of wrongs done its members. The Fourth national bank of New York sent a letter Nov. 4, 1890, to M. Anderson, the cashier of the Delta national bank of Greenwood, Miss., containing nree notes valued at $9500. By a blunler the letter was forwarded to Greenwood, Mass., and delivered to Mrs. Catherine S. Anderson, who opened it, and

10. February 14, 1891 Mineral Point Tribune Mineral Point, WI
Article from Mineral Point Tribune, February 14, 1891

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Article Text

LATEST NEWS CONDENSED. GENERAL NOTES. THE steel cruiser Newark is completed and in commission. BERNARD KRAUZ, of Menasha is heir to a big estate in Germany. THE rubber trust has collapsed and the members have commenced cutting the prices right and left. THE San Francisco police have destroyed, in a Chinese joss-house, idols and furnishings worth $30,000. THE announcement was made that the American National bank of Kansas City, which failed two weeks ago, will resume business. WILLIAM LOVELL, the Racine laundryman who became insane upon his honeymoon trip, was taken to the Wauwatosa Insane Assylum. THE Wisconsin supreme court has decided that accident insurance begins as soon as the first premium is paid to the agent, holding, that the latter has general power to act for the company. THE soda fountain men have formed a combine with a capital stock of $2,750,000. Ex-CHIEF JUSTICE JOHN APPLETON died Saturday, aged 87. THE annual carnival and mardi-gras festivities were begun in New Orleans Friday. A BLIZZARD and snowstorm is forcing the suspension of traffic in South Dakota, lowa and Minnesota. JACOB NESSLY McCULLOUGH, vicepresident of the Pennsylvania railroad, died yesterday at Pittsburg, leaving an estate worth $14,000,000. THE First Arkansas Valley bank, of Wichita, Kan., has suspended. The liabilities are $125.000 and the estimated assets are $300,000. Jay Gould and C. P. Huntington will unite under one management the Missouri Pacific ard the Southern Pacific railroads, which will control 7,000 miles of railway. THE election in Canada will be contested on the issue of reciprocity with the United States, the liberals advocating and the conservatives opposing the policy.