Bankers Trust Company (Kansas City, MO)

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Has a Credit Balance

New York, Oct. 28.-The Bankers' Trust company of Kansas City, Mo., has a credit balance with the Oriental bank, which is its New York correspondent. Cashier Adams of the Oriental bank said: "The Bankers' Trust has a moderate credit balance with the Oriental bank. The suspension can in no way affect the Oriental bank."

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OKLAHOMA BANKS CLOSE DOORS ON ORDER Oklahoma City, Okla., Oct. 28.Every bank in this city is closed today on orders of Acting Gov. Charles Filson and it is said that the order will be in effect for the rest of the' week. Bankers of the city are in session at the Chamber of Commerce. Order astounded bankers as there had been no uneasiness felt here, and all local banks are considered of strong financial condition. The people of the city and the rural districts have plenty of money Frantz Takes Precaution. Mr. Filson issued a proclamation closing banks of the territory for one week on demand of bankers. Action was taken because banks of Kansas City and St. Louis refused to forward cash to banks of the southwest. It is said that a consultation of bankers of Arkansas, Oklahoma, and northern Texas took place this morning over the telephone and that all have decided to act in accordance with the order issued by Acting Gov. Filson in Oklahoma. Closing is for purpose of protecting banks in case of run. KANSAS CITY BANK SUSPENDS BUSINESS. Kansas. City, Mo., Oct. 28.-The Bankers Trust company with deposits of $800,000. closed this morning. Cashier J. C. Hughes said that they had decided to close temporarily because clearing house association has refused to extend it the privilege granted thirty other leading banks here of association in issuing clearing house certificates. COMPANY WILL GO INTO LIQUIDATION The Bankers Trust Co. will go into liquidation. The concern has been planning liquidation for several weeks and under ordinary conditions would have been able to do so without loss to any one. Statement of condition at the close of business Saturday night shows loans and discounts $658,701; stocks and bonds $598,581; cash and sight exchange $114,547; deposits $798,245. There was but $8,000 cash on hand when the bank opened this morning.

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[By Associated Press

] KANSAS CITY, Mo., Oct. 28.The Bankers Trust Company with deposits of $800,000 has been closed temporarily because the clearing house association refused to extend them the privilege granted to other leading banks here of issuing clearing house certificates. There was no run on the institution and it as done to protect depositors.

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Kansas City Bank Suspends

KANSAS CITY, Oct. 28.-The Bankers' Trust company of Kansas City, with deposits of $800,000, closed this morning. Cashier Hughes said he decided to close temporarily because the Clearing House association refused to extend the privilege of clearing house certificates which thy had extended to 30 othr leading banks.

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BANKER MISSING RECEIVER NAMED KANSAS CITY, Oct. 28.-Following the disappearance of J. E. Brady, a receiver was today appointed for the Bankers' Trust Co., a Brady concern.

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KANSAS CITY TRUST CO

Kansas City, Oct. 28.-Following the disappearance of J. E. Brady, a receiver was today appointed for The Bankers Trust Company, a Brady concern.

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SMALL KANSAS CITY BANK SUSPENDS Kansas City, Mo., Oct. 28.-The Bankers Trust company, with deposits of $800,000, closed its doors at 10:15 today. Cashier J. C. Hughes said that the bank had decided to close temporarily because

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the world that our laws protect the investor as well as those of other civilized countries. This is the presi- dent's policy. He should be supported in this work."

### No Trace of Distrust.

New York, Oct. 28.-Prosperity, solid financial institutions, no trace of dis- trust or uneasiness, normal business conditions, no fears of trouble-these phrases sum up messages received by a newspaper here from presidents of trade organizations in Boston, New Orleans, Atlanta, Denver, Galveston, Milwaukee, Cincinnati, St. Louis, Min- neapolis, Cleveland and other cities.

### Secured All Gold Offered.

London, Oct. 28.-The United States secured all the bar gold offered today in the market, totalling near $5,000,000. The price paid was $19.50. This is 3½ cents higher than previous quotations, indicating the keenness of the compe- tition. Both Paris and London bid against the United States.

### Copper Jumps Up.

London, Oct. 28.-The confidence felt here in the general soundness of the fin- ancial situation in the United States was further evidenced at the opening of the stock exchange this morning when American rails were pushed up 2 to 3 points over parity, a fair amount of business being transacted. The cer- tainty of a drain of gold from here to New York, however, affected the con- sols and other gilt edge securities. Dis- counts remained firm and the fears of dear money prompted the selling of consols, which early in the day declined 5-16. In some quarters it was thought that the Bank of England's rate of discount might be raised today but the absence of an advance at noon caused a recovery of ⅛. Copper shares ruled strong on a sud- den increase of over $15 per ton in the price of the metal.

### Stock Exchange Still Closed.

Pittsburg, Pa., Oct. 28.-It was de- cided not to open the stock exchange at a meeting of the board of directors this morning. Just when the ex- change will resume transactions is not known. Another meeting of the di- rectors will be held tomorrow morn- ing. It is the belief in some quarters that the exchange will remain closed throughout the week. Aside from the suspension of the exchange there is nothing worthy of mention in the local financial situa- tion.

### Depositors Less Anxious For Money.

New York, Oct. 28.-The Lincoln Trust company opened for business this morning as usual. The line of waiting depositors was much smaller than at the opening hour of Saturday. At the Northern bank, a state in- stitution, at 693 Broadway, there were 60 persons in line at the opening hour. The stock market had a strong op- ening, all the principal active stocks selling at sharp advances over Satur- day, but with very light transactions recorded. The greater advances were in Sugar, Northern Pacific, American Smelting. Westinghouse Electric, To- ledo, St. Louis and Western preferred and Amalgamated Copper. Business came almost to a standstill after a few minutes, but the market retained a steady tone. Additions to the sharp advances were made when more stocks came into the quotations, but the general level of the active list did not rise.

### Improvement at Providence.

Providence, R. I., Oct. 28.-Banking conditions had a normal appearance to- day. At the beginning of business there was no evidence that any of the savings institutions would be subjected to an unusual number of withdrawals.

### Gold Imports Increased.

New York, Oct. 28.-Lazard Freres in- creased their engagement of gold made today to $2,000,000. This makes a total of $11,500,000 engaged for importation since the gold import movement began last week.

### Puts Up the Rates.

Boston, Oct. 28.-The Boston Clearing House association today decided to is- sue clearing house loan certificates bearing interest at 7.3 per cent. The high rate of interest is for the purpose of retiring the certificates at the earli- est possible date. The New York rate is 6 per cent. The loan committee of the clearing house will pass upon collateral and ap- prove the issue of the certificates at 75 per cent of the market value of the securities. Leading bank officials declared today that the adoption of the clearing house certificates for the settlement of bank balances was solely as a precaution against the withdrawal of money by persons desiring to hoard it or to take advantage of high currency rates in other cities.

### Had Only $8,000 in Cash.

Kansas City, Mo., Oct. 28.-The Bankers Trust company was taken in charge by W. C. Irwin, who had been sent here by Secretary of State Swanger. The bank closed upon the advice of Mr. Irwin and it will liqui- date. He said the concern had been planning for several weeks to liquid- ate and under ordinary conditions.

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Methods Work Well

Kansas City, October 28.-Outside of the failure of the Bankers' Trust company, with deposits of $800,000, there was no real trouble here today. This bank was considered the weakest institution of its kind here, and its failure neither caused much surprise nor had no apparent effect upon the general situation. There were no runs or any of the banks here or in Kansas City, Kan., up to the closing of business today. The decision of the banks to restrict payments of currency caused but little embarrassment.

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KANSAS CITY TRUST COMPANY SUSPENDS Kansas City, Oct. 28.-Outside of the failure of the Barkers' Trust company with deposits of $800.000. there was no real trouble here today. This bank was considered the weakest institution of its kind here and its failare neither caused much surprise nor had any apparent effect on the general situation. No other banks were affected. There were no runs on any banks and the refusal to make payments of currency caused but little embarrassment. The Bankers' Trust company, with deposits of $800,000. closed this morning. Cashier J. C. Hughes said that

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sent here by Secretary of State Swanger. The bank closed upon the advice of Mr. Irwin and it will liquidate. He said the concern had been planning for several weeks to liquidate and under ordinary conditions it would have been able to do so. It developed that the St. Louis Clearing House association, as well as the Kansas City association, had refused to give even temporary aid. A statement of the condition of the Bankers' Trust company at the close of business Saturday night last showed: Loans and discounts, $658,701; stocks and bonds, $598,581; cash and sight exchange, $114,547; deposits, $798,245. There was but $8,000 cash hand when the bank opened this morning. NEW YORK, Oct. 8.-The Bankers Trust company has a cradit balance with the Oriental bank, which is its New York correspondent. Cashier Adams of the Oriental bank said: "The Bankers Trust has a moderate credit balance with the Oriental bank. The suspension can in no way affect the Oriental bank."

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BIG KANSAS CITY FAILURE

Bankers' Trust Company Forced by Clearing-House Action to Suspend. KANSAS CITY, MO., October 28.The Bankers' Trust Company, with deposits of $800,000. closed at 10:15 to-day. Cashier J. C. Hughes said that the bank had decided to close temporarily because the ClearingHouse Association had refused to extend to it the privileges of issuing clearing-house certificates granted the thirty other leading banks here. Members of the Clearing-House Association to-day advised their correspondents in the Southwest by telephone to restrict payments to depositors until the present flurry had passed, and the indications were that this advice would generally be accepted. A statement of the condition of the Bankers' Trust Company at the close of business last Saturday night showed: Loans and discounts, $658.701; stocks and bonds, $598,581; cash and sight exchange, $114,547; deposits, $798,245. There was but $800 cash on hand when the bank opened this morning. Outside of the failure of the Bankers' Trust Company, there was no financial trouble to-day. The failure had no apparent effect on the general situation. No other banks were affected. There were no runs on any of the banks here or at Kansas City, Kansas.

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Receiver Appointed

Kansas City, Oct. 29.-Following the disappearance of J. Ed Brady, a director, who has been missing since last Thursday, a receiver has been appointed for the Bankers' Trust Co. Brady, it is reported, became involved with the bank. The clearing house adopted the certificate plan.

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[By Associated Press

] KANSAS CITY, Mo., Oct. 28.The Bankers Trust Company with deposits of $800,000 has been closed temporarily because the clearing house association refused to. extend them the privilege granted to other leading banks here of issuing clearing house certificates. There was no run on the institution and It was done to protect depositors.

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BANKERS TRUST, IN KANSAS CITY, CLOSES Kansas City, Oct. 30.-No appearance of a run on any of the banking institutions was visible today and the leading bankers reiterate they have complete confidence in the situation, the clearance house having decided to issue certificates. That action was put into effect today. It applies to thirty of the principal local banks and trust companies. The Bankers' Trust company with deposits of $800,000 closed at 10:15 this morning. Cashier Hughes said it decided to close temporarily because the clearing house association refused to extend the privileges granted to thirty other leading banks here of issuing clearing house certificates.

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Receiver for Bankers' Trust

Kansas City, Nov. 1.-Thomas R. Marks, chairman of the Republican county committee, has been appointed receiver for the Bankers' Trust company, which closed its doors October 28, under instructions from Secretary of State Swanger, because the local clearing house would not give it the privilege granted other banks of issuing clearing house certificates. The indebtedness of the company, outside of the half million capital stock is $908,658. In the petition for receivership nothing is said about the assets. The local financial condition continues to show improvement.

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BANKERS TRUST, IN KANSAS CITY, CLOSES Kansas City, Det. 30.-No appearance of a run on any of the banking institutions was visible today and the leading bankers reiterate they have complete confidence in the situation, the clearance house having decided to issue certificates. That action was put into effeet today. It applies to thirty of the principal local banks and trust companies. The Bankers' Trust company with deposits of $800,000 closed at 10:15 this morning. Cashier Hughes said it decided to close temporarily because the clearing house association refused to extend the privileges granted to thirty other leading banks here of issuing clearing house certificates.

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RECEIVER FOR TRUST COMPANY

Kansas City, Mo., Oct. 31.-Thomas R. Marks, chairman of the Republican County Committee, has been appointed receiver for the Bankers' Trust Company, which closed on October 28 because the local clearing house would not give it the privilege of issuing clearing house certificates. The debt of the company outside of the $500,000 capital stock is $908,658. In the petition for receivership nothing is said about the assets. The local financial situation is improving.

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Receiver Appointed for Bank

Kansas City, October 31.-Thomas R. Marks, chairman of the republican county committee, was today appointed receiver for the Bankers' Trust company, which closed its doors October 28 under instructions from Secretary of State Swanger, because the local clearing house would not give it the privileges granted other banks of issuing clearing house certificates. The indebtedness of the company outside of the half million capital stock is $908,658. In the petition for receivership nothing is said about the assets.

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Three Kansas Banks Fail

Topeka, Kan., Nov. 5.-Bank Commissioner Royce announced Monday that three Kansas banks had been forced to close their doors owing to the failure of the Bankers' Trust Co., of Kansas City, Mo., on October 28. The banks are the Coyville state bank, of Coyville; the Garland state bank, of Garland, and the Citizens' state bank, of Mulberry, all small institutions, They had deposits with the Bankers' Trust Co. Receivers will be appointed. The Coyville bank had deposits of $10,000, the Garland bank $50,000 and the Mulberry bank $85,000.

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FIVE BANKS CLOSED

Failure of Trust Company Forces Three Kansas Suspensions. Topeka, Kan., Nov. 4.-J. W. Royce, Bank Commissioner, announced to-day that three Kansas banks had been forced to close their doors owing to the failure of the Bankers' Trust Company, of Kansas City, Mo., on October 28. The banks are the Coyville State Bank, Coyville; the Garland State Bank, Garland, and the Citizens' State Bank of Mulberry, all small institutions. They had deposits with the Bankers' Trust Company. Receivers will be appointed at once. The Coyville State Bank had deposits of $10,000. the Garland State Bank, $50,000. and the Citizens State Bank of Mulberry, $85,000. The National Bank of Commerce of St. Louis was the foreign correspondent of the Mulberry bank and the Mercantile Trust Company of New York was the correspondent of the Garland institution. The banks have been organized only a few years. Leetonía, Ohio, Nov. 4.-The First National Bank here failed to open to-day. A notice posted on the door states that the concern will liquidate its liabilities. C. N. Schmick, of Cleveland, is president of the bank, which has been in business twenty-two years. It was organized with a paid up capital of $100,000. Aurora, Ind., Nov. 4.-Owing to the money stringency the Aurora National Bank failed to open to-day. The bank was organized in 1883 with a capital of $50,000 and its deposits aggregated $165,000. No statement of the liabilities has been made.

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Slow Bank Collections

Kansas City, January 12.-Thomas R. Marks, receiver of the Bankers' Trust company, which failed October 28 last, with liabilities of $1,143,627, filed his first report in the circuit court here today. Mr. Marks does not attempt to suggest the value of the assets, but says their actual present value is problematical. Fully $500,000 of the bank's resources may be termed slow. The report shows that of the loans and discounts, placed at $658,700 on the day of the failure, $65,000 has been collected by the receiver.

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department has been entirely self-supporting

The fund which had accumulated in this department during the ten years of the operation of the banking law was $3,638.61. During the four years just preceding the present incumbency nothing whatever was added to that fund. During the three and one-half years of Mr. Swanger's administration the fund has been increased to $8,330.56. Examinations of banks have been rigid, impartial and complete. The reports of the several examiners have been subjected to the most thorough scrutiny, and any violation of the banking laws, or the essential rules of good banking have been called to the attention of the bank without fear or favor and a strict compliance of the law required. During the present administration several banks have been closed, others that were unsafe required to liquidate; others have consolidated, making stronger institutions, and everything done that could be accomplished to place the banking business of the State upon an absolutely safe and stable basis. During Mr. Swanger's administration only four banks and trust companies he has closed resulted in loss to the depositors. One of these was the Middleton Bank at Waverly (resulting from a defaulting cashier), where the depositors will probably lose about 5 to 10 per cent of their deposits. Another is the Joplin Savings Bank, caused by the reckless investments of the president of the institution, where the depositors will lose a percentage of their deposits. Another is the Bankers Trust Company of Kansas City caused by the Brady failure. Reckless investments by the officers of the institution and a slump in their values caused by the panic will cause a loss to the depositors of about 57 per cent of their deposits. Last, but not least, the Salmon & Salmon Bank of Clinton. The most disastrous by far, the causes of the failure of which are well known to the people of the State. It has been the earnest effort of the present administration, whenever it was possible, to prevent receiverships for banks, and many thousands of dollars have been saved to depositors and stockholders by the efforts of Mr. Swanger to