9061. American National Bank (Kansas City, MO)

View Charter #3544 on SPMC

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
3544
Charter Number
3544
Start Date
January 19, 1891
Location
Kansas City, Missouri (39.100, -94.579)

Metadata

Model
gpt-5-mini
Short Digest
9021339b9d33d22f

Response Measures

Borrowed from banks or large institutions, Fed/other loan, Public signal of financial health, Capital injected, Full suspension, Books examined

Description

Contemporary reports (Jan 19–20, 1891) state a heavy run and that the National Bank Examiner took charge (suspension). The bank later resumed business Mar 31, 1891. Cause of initial run repeatedly reported as rumors / loss of confidence; clearinghouse aid failed and examiner assumed control.

Events (5)
1. July 29, 1886 Chartered
Source
historical_nic
2. January 19, 1891 Run
Cause
Rumor Or Misinformation
Cause Details
Unfounded rumors and a general lack of confidence that had circulated for months; withdrawals grew after unfavorable reports and eastern money stringency.
Measures
Clearing-house committee examined proposed collateral and discussed assistance; ultimately assistance not agreed and bank applied to examiner; examiner took charge.
Newspaper Excerpt
there had been a heavy run on the bank and that the situation looked serious
Source
newspapers
3. January 19, 1891 Suspension
Cause
Government Action
Cause Details
National bank examiner assumed control (by order of Comptroller), effectively suspending the bank after the run and failed clearinghouse support.
Newspaper Excerpt
The National Bank examiner for Missouri took charge of the American National Bank in this city this morning.
Source
newspapers
4. March 31, 1891 Reopening
Newspaper Excerpt
The American National Bank ... resumed business this morning, with over $1,725,000 in cash in its vaults.
Source
newspapers
5. July 27, 1907 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (24)
1. January 19, 1891 Evening Star Washington, DC
Article from Evening Star, January 19, 1891

Click image to open full size in new tab

Article Text

AN IRREGULAR PRACTICE.-Secretary Windom has informed Secretary Blaine, in regard to the practice of presenting invoices for certification at Paso del Norte. Mexico, covering goods shipped to the United States from other consular districts, that the collector of customs at El Paso, Texas, has been instructed to cooperate with the United States consul at Paso del Norte in enforcing the law upon shippers and carriers on the Mexican Central railroad and putting an end to said irregular practice. IN FAVOR OF THE GOVERNMENT.-The Treasury Department has authorized the free entry of three cases imported at New York addressed to the Secretary of State and containing copies of a volume of the survey of India, intended for the different departments, scientific NOcieties, educational institutions and libraries. As there is no provision of law authorizing the free entry of books for private persons the collector at New York has been instructed to collect duty on copies contained in the cases in question intended for T. W. Wright, civil engineer, Schenectady, N.Y., and Peof. J. E. Hilgard, late of the geodetic survey. To HONOR MR. BANCROFT.--The following order was issued today from the Executive Mansion: The death of George Bancroft, which occurred in the city of Washington on Saturday, January 17. at 3:40 o'clock p.m., removes from among the living one of the most distinguished Americans. As an expression of the public loss and sorrow the flags of all the executive departments at Washington and of the public buildings in the cities through which the funeral party is to pass will be placed at halfmast on tomorrow and until the body of this eminent statesman, scholar and historian shall rest in the state thatgave him to his country and to the world. By direction of the President. E. W. Halford, private secretary. THE KANSAS CITY BANK FAILURE.-Mr. Lacey, controller of the currency, received a telegram this morning from Bank Examiner Marshall announcing the suspension of the American National Bank of Kansas City, Mo. He said that he received word from the examiner Saturday that there had been a heavy run on the bank and that the situation looked serious. He added, however, that he did not think the bank's liabilities exceeded $1,000,000, which is $250,000 less than its capital stock. In reply the controller instructed him to take chai ge of the bank in case the run continued this morning and, judging from the fact that the examiner had taken charge, he supposed it had. The controller mid that while he bad no definite information on the subject he supposed the bank was suffering from its efforts to assist its correspondents in Kansas, four of which had failed during the recent stringency.

2. January 19, 1891 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, January 19, 1891

Click image to open full size in new tab

Article Text

Takes Charge of a Bank. KANSAS CITY, Mo., Jan. 19.-The National Bank examiner for Missouri took charge of the American National Bank in this city this morning. The capital stock of the bank is $125,000. No statement of habilities or assets can be obtained. During the early part of last week it became known to members of the Kansas City Clearing House Association that the bank was in need of assistance. A meeting of theassociation was called and a resolution adopted assuring the American that upon proper showing, assistance would be rendered to the amount of a million dollars. A committee was appointed to examine collaterals and on Saturday they reported that the paper offered was not such as the banks of the association would accept. Thisdecision made the failure of the bank inevitable and the bank examiner assumed charge of the concern. As a result of the failure a great deal of uneasiness was created among the depositors of the Kansas City Safe and Savings deposit bank and the American National bank, which are supposed by many to be connected with the American National bank. There is a run on the first named bank, which is paying all depositors promptly and officials claim that they can meet all obligations. WASHINGTON, Jan. 19. - Lacey, the comptroller of currency, received a telegrain this morning from Bank Examiner Marshal, announcing the suspension of the American National Bank, Kansas City. He said there had been a very heavy run on the bank and that the situation looked serious. He added, however, that he did not think the bank's liabilities exceeded a milNon dollars. The comptroller said he thought the bank was suffering from Its efforts to assist its correspondents In Kansas, four of which have failed recently.

3. January 20, 1891 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, January 20, 1891

Click image to open full size in new tab

Article Text

Meteorological Report. [Jan. 19. 1891. 10 P. M.I Wind. Therm'r. Place of Observation. - 2 10 26 N. W New York Cloudless. 30 N. W 12 + 2 Cloudless. Philadelphia 2 36 N. Norfolk Cloudless. + 2 32 N. W Cloudless. Washington 24 4 6 N. W + Cloudy. Albany 1 4 26 N. Boston Cloudy. American National Bank of Kansas City to Trouble KANSAS CITY, Jan. 19.--The American National Bank of this city was taken charge of this morning by F. E. Marshal, National Bank examiner for Missouri. Capital stock of the bank is $1,250,000. No statement of liabilities or assets can be obtained. As a result of the failure a run is being made by the depositors of the Kansas safe and Savings Deposit Bank upon that institution, which is in the same building with the American National Bank and supposed by many to be connected with it. The bank is paying all depositors promptly, and the officials claim they can meet all obligations. The deposits of the bank are about $1,200,000. Since October the deposite decreased from over $4.000,000 to the present amount. It is ascertained that the bank owes over $800,000 borrowed money. President Stinson says the failure was caused by the lack of confidence which prevaded the business world for the past few months. The liabilities of the bank are estimated at $2,250,000, with nominal assets of $3,500,000

4. January 20, 1891 Santa Fe Daily New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe Daily New Mexican, January 20, 1891

Click image to open full size in new tab

Article Text

Inten se cold weather throughout Eur po. r , ident McGrath, of the Kansas Farmers' Alliance has been asked to re-ign on account of the Turner letter, and he declines to do it. A big Alliance brawlis on. The failure of the American National bank at Kansas City has caused a desperate run on the Kansas City safe deposit savings bank. In the Sioux council yesterday the Rosebuds boldly charged that the Ogao as had committed as many crimes as they had themselves. A bad feeling was also engendered by the statement of one chief that he intended to turn over all the Indians to the soldiers as a consequence of their actions. The collection of arms has been very unsatisfactory, only 104 having been given up.

5. January 20, 1891 The Morning News Savannah, GA
Article from The Morning News, January 20, 1891

Click image to open full size in new tab

Article Text

A IN BIG BANK TROUBLE. THE OF NATIONAL AMERICAN CITY KANSAS at Its Assets Estimated $3,500,000, its at and Liabilities $2,250,000-Ite from Reduced Deposits $4,200,000 to at of the Time October $1,400,000 Closing. Jan. 19.-The American taken charge KANSAS City, of this city was national bank No National Bank by F. E. Marshall, of Missouri. The of -day for the state is $1,250,000. liabilities of to the members capital obtained. examiner statement stock known of During of its the bank the early House or part assets that the of can week to the be A at it became Clearing of assistance called Kansas City in need was the that bank upon bank was of the association assuring assistance be to would rendered An meeting which a lution proper was showing amount committee of $1,000,vestigation of the association last the by not bank were would accept. association reported 000 or night more. to that the the meeting such colletera as the This offered banks decision of the the of the made bank failure inevitable, and the bank national thereupon examiner of the affairs. charge assumed A ON RUN BANK. ANOTHER of the of the bank failure has been great created the City among Safe and lavings Deposit in the the with same As a deal result of depositors uneasiness of the Bank, Kansas American which in building is to be and by many National supposed is a it, with and tremend The sidewalis institution. the was were bank with depositors is The bank claim ous connected srun blocked on that and the doors anxious paying to recover all de officials The that they in is no bank way their crowded savings. promptly, and all the obligation the the National. American positors can meet connected largest savin its and are ings state officers bank and careful business the niost The Safe Deposit and Tg Bank Savings the bank appearances is of the those men of run the on city. the Kansas City had all plenty day. in of opinion is all bank right CANSAS money, all and to know it that THE the PRESIDENT PRESIdent Stimson CuThorizes of of the The the cause position EXPLA Jan. OF 19, 11 the following failure to Bank have seems of the con been afidence has which world pervaded the few past months. statement: American National indefinite lack the business A rumor that ago some three The bank of conditimento of the and withdrawalith ately, growth the able gained for currency was not deposits in the best follow the unfavor to reports increased 1 an withdrawals Oct. the extent. alarming of bank's showed deposits statement 12 the had Dec. deposits $1,200,000. to and fallen $2,500,000, the house clearing its they were only found The cash night off when estigation,400,000. was time available in This $400,000. decrease of the with the Saturday committee made to aggregate that deposits began money eastern stringeacy the and itself bank found markets to their obliged collatedal gilt-edged securities. FURTHER CONFIDENCE WEAKENED. the rethese When upon drains bank's confiknown, sources became generally was and and dence more more impaired, of was the house finally Clearing meeting or the on called knowledge the of sent Bank, withoutmerican National other assistbanks offered this meeting increased ant causingriday rumors the the and bank for the aid which Saturda-house clearing but and ance, became if public which known, then run applied they to had being offered, organizacorporate a of to tion plan they upon failed agrae the was bank and assistance to close, obliged Stimson President although this have never thought occurred, as the has been bank a solvent To up always business condition. will these times great is no the but there says sacrifice. be will the paid that doubt depositors if the are full, and handled. bac the get large should holders stockhold of their part original THE ASSETS No of of the the lia~ amount statement the and bank bilities has are The made been at the and estimated 2,250,000, of liabilities assets at of The solders stockhold £3,500,000. principal the the bank There seems of to as to be opinion decided to of difference the the house extend to its Clearing of the the that when sethe to-night bank's committee the cerpocket curities tified checks to over association bank. said examine bad in his to be turned should the of the President loan. warrant showingo securities the The securiproved be ties and Insurincient, assistance therefore

6. January 20, 1891 The Morning Call San Francisco, CA
Article from The Morning Call, January 20, 1891

Click image to open full size in new tab

Article Text

DOORS CLOSED. Suspension of the American National Bank of Kan as City. KANSAS CITY, Jan. 19.-The National Bank Examiner for Missouri took charge of the American National Bank in this city this morning. The capital stock of the bank is $1,250,000. President Stimson in a public statement says that the cause of the failure of the American National Bank seems to have been the indefinite lack of confidence which pervaded the business world the past few months. A rumor gained currency three months ago that the bank was not in the best condition. The withdrawal of deposits followed immediately, and with the growth of unfavorable reports increased to an alarming extent. On the first of October the bank's statement showed deposits of 19th on off $4,200,000; when to the $2,500,000, Clearing-house December and Committee Saturday they had fallen made night an investigation they aggregated only $1,400,000. The cash available at that time was $100,000. When the bank found itself obliged to negotiate a loan of $800,000 in the East it was compelled to give as collateral gilt-edged securities. When these drains upon the bank's resources became generally known confidence was impaired. The members of the Clearing-house could not agree upon any plan of assistance, and the Bank Exatainer was notified by President Stimson. A Clearing-house meeting was first called without our knowledge, and other banks voluntarily offered us assistance if needed. Unfortunately the meeting became publicly known, causing an increase of rumors, which resulted in a run Friday and Saturday, and We then applied to the Clearinghouse for aid, but they failed to agree on a plan of assistance and we were obliged to close, although, in my opinion, this ought never to have occurred, as the bank has always been solvent. Depositors will be paid in full, and if the assets are properly handled the stockholders should gét back a large part of the original investment. The liabilities are estimated $2,250,000, and assets, nominally, $3,500,000. Other bankers do not anticipate any bad effect on other houses. ASSIGNMENTS OF BUSINESS FIRMS. TOPEKA (Kan.), Jan. 19.-W. Curdy, dry goods merchant. assigned this morning. Liabilities $39,000, assets not known. NEW YORK, Jan. 19.-A Montreal special to the Post says: McLachlen Brothers & Co., one of the largest wholesale dry goods houses in the Dominion, are in financial difficulties, and will probably assign to-day. Their liabilities are between $700,000 and $900,000. LOUISVILLE, Jan. -Von Borries & Co., wholesale clothiers, have assigned. The liabilities are $150,000 and the assets the same.

7. January 20, 1891 Wheeling Register Wheeling, WV
Article from Wheeling Register, January 20, 1891

Click image to open full size in new tab

Article Text

57%c. Oats, receipts 32,000 bushels; exports 90,000.bushels; sales 4,025,000 bushels futures, and 94,000 bushels spot; market dull and lower; January and February 50½c; May 50c; spot No. 2 white 51c:mixed western 48c; white do. 51a58c; No. 2 Chicago 511/2. Hay and Hops, quiet. Coffee, steady and unchanged. Sugar, quiet. Molasses, and Rice, firm. Petroleum, steady; united 73%c. Cottonseed Oil, dull. Tallow, dull and steady. Rosin, quiet. Turpentine, quiet. Eggs, firmer western 27c. Hides, firm and quiet. Pork, quiet; mess 89 75a10 75: new mess $11 50a 11 75; extra prime $10 50. Cut Meats, fairly active. Lard, weak and quiet; west ern steamer 12½; January $6 10: February 10; March $621: May $6 40. Butter, quiet and easy; western dairy 12a20c; do. creamery 19a28c; Elgin 29c. Cheese, in active and stroyg; Ohio flats71/49%c. CHICAGO, January 19.-Bear markets and bull acquiescence in the downward action of prices by a wholesale abandonment of their holdings were the features of the day's business on the board. The wheat market opened very weak at a decline for May of 5/8C. The principal cause of the opening weakness was the report of the collapse of the American National Bank of Kansas City and a run in progress upon the Kansas City savings banks. Some financial trouble was also reported from New York to be the cause of the decline. The market closed dull, near its lowest figure. Corn market weak and lower. Oats was only fairly active. Provisions were moderately active, with little change in prices. Flour unchanged. Wheat, cash No. 2 spring 878/40; No. 3 spring 83a861/2c No. 2 red 901/2; January 871/2881/2, closing at 87½c; May 93%a95c, closing at 93%c; July 891/a903/gc, closing at89%c. Corn, cash No. 2 47½ January 47½a a473(c, closing at 471/4c; February 47%a 48½c, closing at 473/gc; May closing at 50%c. Oats. cash No. 2, 42%c; January 42a42%c, closing at 423/gc; May 441/8453/6c, closing at 443/gc; June 44a44%c, closing at 44%c. Rye, No. 3, 70c. Flaxseed, at $1 16. Timothy seed, at $1 25. Mess Pork, cash $10 15; January $10 15a 10 20, closing at $10 17½; February $10 20 a10 30, closing at $10 221/2: Lard, cash 85 721/2; January 5 723/2; February $5 77½ May $6 15a6 25; closing at $6 17½ Bulk Meats, short ribs cash $4 S0a4 90; January and February 84 90a4 95; May $5 321/2a 5 42½, closing at $5 35. Cut Meats, shoulders $4 20: short clear $4 25. Others unchanged. Receipts-Flour, 10,000 bar rels; wheat, 26,000 bushels; corn, 112,000 bushels; oats, 151,000 bushels; rye, 5,000 bushels: barley, 32,000 bushels. Shipments -Flour, 9,000 barrels; wheat, 33,000 bush els; corn, 96,000 bushels; oats, 131,000 bushels; rye, 7,000 bushels; barley, 14,000 bushels. PHILADELPHIA, PA., January 19.-Flour, weak. Wheat, steady; No. 2 red January 99a99%c; February $1 001/a1 01 March $1 021/21 03; April $1 041/2a1 05. Corn, steady; No 2mixed January and February 59a591/c; March and April 591/a60c. Oats, steady: No. 2 mixed 491/2; No. 2 white and January 50%a50%c; February 501/a50%c; March April 521/4c, Pork, mess, old 11c; do new 12½ Hams, smoked 10allc. Butter, dull and weak Pennsylvania creamery extra 17a28c; do prints eqtra 20a33c. Eggs firm; Pennsyl vania firsts 28. Cheese firm; part skims 6aSe. Receipts-Flour, 900 barrels: wheat 2,400 bushels: corn, 9,500 bushels; oats. 6,000 bushels. Shipments-Wheat, 3,000 bushels; corn, 12,000 bushels; oats, 2,000 bushels. CINCINNATI, O., January 19.-Cotton middling 9½c. Flour, dull; family $3 850 $400; fancy 81 35a4 70. Wheat, dull: No. % red 96c; receipts 4,000 bushels; shipments 2,500 bushels. Corn, irregular and lower No. 2 mixed 52c. Oats, quiet; No. 2 mixed 47½c. Rye, fair demand and firmer; No f 2 75c. Pork, quiet; $1025. Lard, dull $5 70. Bulk meats. dulls. Bacon, dull short clear $6.00. Whiskey, steady; $1 14 Butter, firm: fancy Elgin 30c; good to prime Ohio 20a25c. Linseed oil, dull; 53c firm; hard refined 61/27c, New Or leans Sugar, 5c. Eggs, nominal at 22½/2. Cheese steady; choice full creamery Ohio flat 9½a10c. BALTIMORE, MD., January 19.-Wheat dull; No. 2 winter red spot and January 87%c; May $1 02. Corn, firm mixed spot and January 581/20: May 56% quiet; western white 51a52c. Rye quiet Oats, at 80a82c. Hay, dull; prime to choic y timothy, $10 50all. Mess pock quiet; ol 50: new $12. Butter quiet; creamer g $11 27a2Sc: fair to choice 31aS4c. Coffee fancy Rio 19½. Receipts-Flour, 14,00 firm; barrels: wheat, 2,000 bushels; corn, 18,00 bushels: oats, 6,000 bushels; rye, 1,000 bust els. Shipments-Flour, 10,000 barrels S. corn, 26,000 bushels. er TOLEDO, O., January 19.-Wheat, activ = and lower; cash and January 95c; Ma e, 97c; July 90%c; August 88%c. Cor is dull; cash and May 511/2. Oats, quiet cash 46c. Clover Seed, steady; cash St 3: February $4 40; March $450. Receipts bushel

8. January 20, 1891 Evening Journal Wilmington, DE
Article from Evening Journal, January 20, 1891

Click image to open full size in new tab

Article Text

A KANSAS CITY CRASH. The American National Bank Has Gone Under. RUINED BY A CONTINUED RUN Liabilities Very Large-President Stimson Believes That the Bank Was in Good Condition, but Other Financiers Say It Was Ruined by Bad Management. KANSAS CITY, Jan. 20.-The run which was started on the American National bank Saturday was continued yesterday, and in accordance with orders from Mr. Lacey, comptroller of the currency at Washington, F. G. Marshall, national bank examiner for the state of Missouri, took charge of the bank. It is believed that its liabilities will reach $2,250,000; nominal assets, $8,500,000. It was rumored in this city that Secretary Blaine is one of its stockholders to the extent of $30,000. He was interested in the bank when it started, but drew out and loses nothing. All the stockholders are said to be eastern men. President Stimson's Statement. President H. P. Stimson, of the bank, authorized the following statement: "The cause of the failure of the American National bank seems to have been the lack of confidence which has pervaded the business world for the past few months. A rumor gained currency some three months ago that the bank was not in the best condition. The withdrawal of deposits followed immediately, and with the growth of unfavorable reports the withdrawals increased to an alarming extent. "On Oct. 1 the bank's statement showed deposits of $4,200,000. "Dec. 12 the deposits had fallen off to $2,500,000, and Saturday night when the clearing house committee made its investigations they were found to aggregate only $1,400,000. "Cash available at that time was $400.000. This decrease in deposits began with the stringency of the eastern money markets, and when the bank found itself obliged to negotiate a loan of $800,000 in the east it was compelled to give as collateral its gilt edge securities. Confidence Was Impaired. "When these drafts upon the bank's resources became generally known contidence more and more was impaired, and finally a meeting of the clearing house was called, without the consent or the knowledge of the American National. However, at this meeting a resolution was unanimously adopted extending an offer of as sistance. When it became known that the meeting had been held a run on the bank began. Then the bank called on the clearing house to make good its offer. The bank's securities were examined and declared to be sufficient, but the members of the clearing house could not agree as to the amount of loan which each should pay. The discussion of the matter finally closed without any agreement having been reached, and then the bank examiner was notified by President Stimson. Will Be Paid in Full. "Our shinkage was especially great on account of the large volume of country business handled, and this was made more conspieuous by the fact that a few months ago had several large temporary deposits. During the ninety days we collected considerably over a million dollars and paid off deposits amounting to nearly two and a balf millions, or about 60 per cent. of our deposits. 11 "Last Thursday morning we had an ex cellent were p tion for two than showing nearly and continued in months, easier condi- with every prospect of improvement in spite of malicious rumors industriously circulated among our depositors and corr respondents. Ultimately we were obliged to close, although in my opinion this to have as bank N has been a To a times b ought close always never up such involve in business occurred, solvent in these condition. sacrifice, the will necessarily great but there is no doubt that depositors will d be paid in full." Bad Management Charged. One of the thirteen bank presidents who met to devise means for saving the American says that the bank had been run on such risky principles that it would have b been ruined long ago had it not been for the fact that during the recent panicky at ford the get and times while to the let bankers it go. depositors of The the failure city will could probably is complete, not G their in will was inprobably money be time, left. the The other bank creditors le corporated under the national banking laws in August, 1886. Its capital was $1,250. 000, and its shareholders are liable for as much more if necessary. th fi: DARING TRAIN ROBBERS.

9. January 20, 1891 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, January 20, 1891

Click image to open full size in new tab

Article Text

Comptroller Lacey Advised. WASHINGTON, Jan. 19.-Lacey, comptroller of the currency. received a telegram this morning from Bank Examiner Marshall, announcing the suspension of the American National bank of Kansas City. He said there has been a very heavy run on the banks and that the situation looked serious. He added, however, he did not think the bank's liabilities exceeded $1,000,000. The comptroller said he thought the bank was suffering from its efforts to assist it correspondents in Kansas, four of which had failed recently. The deposits of the bank are about $1,200,000, having fallen to that amount from $4,000,000 since the 1st of last October. It is ascertained that the bank owes over $800,000 of borrowed money. A gentleman in a position to know the condition of other national banks of this city said this morning that they were in unusually good condition and would not be materially affected by the failure. The run on the Kansas City Safe Deposit and Savings bank continued all day. To all appearances the bank has plenty of money and it is the general opinion of those in a position to know that the bank is all right, and there is no occasion for a scare.

10. January 20, 1891 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, January 20, 1891

Click image to open full size in new tab

Article Text

BUSINESS TROUBLES. KANSAS CITY, Mo., Jan. 20.-The American National bank, of this city, was taken charge of this morning by F. E. Marshall. national bank examiner for the state of Missouri. The capital stock of the bank is $1,250,000. Since Oct. 1 last the deposits have decreased from from over $5,000,000 to the present amount It is ascertained that the bank owes over $800,000 borrowed money. The run on the Kausas City Safe Deposit and Savingsbank continued all day. At the hour of clos ing the crowd of depositors waiting their turn to withdraw their deposits was, if anything, larger than the morning. To all appearances the bank has plenty of money. and itis the general opinion of those in a position to know that the bank is all right and there is no occasion for the scare. The statement of the assets and liabilities of the bank has been made. Tt is estimated at $3,250,000 liabilities, $3,500,000 nominal assets. The principal stockhoiders of the bank reside in the East. MONTREAL, Jan. 19.-McLachlen Bros. & Co., one of the largest wholesale dry goods houses in the dominion, are in financial difficulties and will probably assign to-day. The liabilities are between $700,000 and $900,000, chiefly due to their bankers, the Banks of Toronto, Commerce. Merchants and Molson's. English houses are also creditors to the extent of $100,000. TOPEKA, Kan., Jan. 19.-W. W. Curder, the leading dry goods merchant of this city, assigned this morning to L. L. Turner. cashier of the Kausas National bank. Liabilities are $39,000. The assets cannot be ascertained. LOUISVILLE, Ky., Jan. 19.-Von Borries & Co., wholesale cloths. of this city, made an assignment to-day. Liabilities. $150,000; assets about the same. The causes given are the stringency in the money market and slow collections. The firm is one of the oldest in the city. and has had a high reputation.

11. January 20, 1891 Pittsburg Dispatch Pittsburgh, PA
Article from Pittsburg Dispatch, January 20, 1891

Click image to open full size in new tab

Article Text

LACK OF READY CASH Compels the American National Bank of Kansas City to Suspend. IN CHARGE OF THE EXAMINER. Its Troubles Cause a Heavy Run Upon a Savings Bank. LATTER'S DEPOSITORS RAPIDLY PAID KANSAS CITY, Jan. 19.-The American National Bank of this city was taken in charge this morning by F. F. Marshall, National Bank Examiner for the State of Missouri. The capital stock of the bank is $1,250,000. No statement of liabilities or assets can be obtained. Examiner Marshall said this morning: "There is absolutely nothing to say except that the bank is in my charge." During the early part of last week it became known to the members of the Kansas City Clearing House Association that the American National Bank was in need of assistance. A meeting of the association was called, at which a resolution was adopted assuring the American National Bank that, upon a proper showing, assistance would be rendered to the amount of $1,000,000 or more. A committee consisting of Messrs. Whitten McDonald, President of the Midland National Bank; Dr. W. S. Woods, President of the National Bank of Commerce, and F. P. Neal, President o the Union National Bank, were appointed to be in readiuess to act for the Association. The Collaterals Not Sufficient. Friday evening H. P. Stimpson, President of the American National Bank, requested a conference with the committee. The conference resulted in a recommendation that the association render the American National Bank assistance. At a meeting of the Clearing House Association on Saturday evening the committee was instructed to examine the security offered by the American National Bank and ascertain the amount of money needed. Yesterday the committee, calling to its assistance National Bank Examiner Marshall, examined the collaterals offered as securities for $1,000,000 or more, which the association agreed to loan. The committee reported to a meeting of the association last night that the collaterals offered by the American National were not such as the banks of the association would accept. This decision made the failure of the bank inevitable, and the National Bank Examiner thereupon assumed charge of the bank's affairs. Uneasiness Among the Banks. As a result of the failure of the American National Bank to-day a great deal of uneasiness has been created among the depositors of the Kansas City Safe and Savings Deposit Bank which is in the same building with the American National Bank and is supposed by many to be connected with it, and there is a tremendous run on that institution. The sidewalk is blocked and the doors of the bank are crowded with depositors anxious to recover their hardearned savings. The bank is paving all depositors promptly, and the officials claim that they can meet all obligations. The bank is in no way connected with the American National. It is the largest savings bank in the State, and the officers are the most careful and conservative business men of the city. Later on the run ceased. The deposits of the American National Bank are about $1,200,000. Since October 1 last the deposits have decreased from over $4,000,000 to the present amount. It is ascertained that the bank owes over $800,000 borrowed money. A gentleman who is in a position to know the condition of the other national banks of this city, says this morning that they are in an unusually good condition, and would not be materially affected by the failure. Much Surprise in New York. The announcement in New York today that the American National bank of Kansas City had been taken in charge by the bank examiner caused a decided surprise in banking and financial circles here as the bank was considered solvent. President Williams of the Chemical bank, one of the correspondents here of the American National Bank said that his bank was abundantly secured against any loss. At the Seaboard National Bank and the United States National Bank the other two correspondents here of the American National Bank it was said that the Kansas bank did not owe them money. A dispatch from Washington says that Controller Lacey expresses the opinion that the bank's liabilities exceed $1,000,000, which is $250,000 less than its capital siock.

12. January 20, 1891 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, January 20, 1891

Click image to open full size in new tab

Article Text

BEARS TAKE CHARGE. CHICAGO, Jan. 19.-Bear news, bear markets and bull acquiescence in the downward direction of prices by a wholesale abandonment of their holdings were the features of the day's business on the board. The wheat market opened very weak and at a decline for May of 5/8C since Saturday, the bulk of the first transactions taking place at 943/4c. There were rumored sales of a few 5,000-bu lots in the turmoil at the start at 947/8C, and even 95c was said to have been paid. The principal cause of the opening weakness was the report of the collapse of the American National Bank of Kansas City, and a run in progress upon the Kansas City Savings bank. The first decline in prices was arrested at 941/2c, the reaction which followed carrying the market up to 9434@947/8c for May, and the subsequent important fluctuations. on the decline were 943/sc, 947/8c, 941/4c. 9434.-937s@94c, 941/8c, 933/4c. There were a few transactions at 935/8C for May, but there was no general trading under 9334c; the market was without recuperative energy. The corn market was weak at the opening. After selling at 505/sc there was a momentary reaction to 51½c, and afterward weakness was the rule to the close. The decline stopped at 501/2c The fluctuations were frequent, but narrow. The provision market sold off immediately that trading commenced, the grain commission men being free sellers. The packers were sellers also. although hogs were reported to be selling well at the yards at 10c to 15c advance. There were reactions on the decline. but heaviness was the prevailing appearance of the pit. Pardridge was a seller of ribs as of everything else on the floor in which speculation was active. Pork at the close showed a decline compared with the closing quotation on Saturday of 71/2C to 10c: lard lost 242C on the same comparison, and ribs from 242C to 5c. The leading futures ranged as follows:

13. January 21, 1891 Telegram-Herald Grand Rapids, MI
Article from Telegram-Herald, January 21, 1891

Click image to open full size in new tab

Article Text

The Bank May Resume. KANSAS CITY, Mo., Jan. 20.-Bank examiner Marshal, dechned to make any statement concerning the affairs of the American National bank which suspended yesterday. There is some talk of the bank resuming business. President Stimson says if the stock. holders can repair the impaired capital of the bank, he sees nothing to prevent its resumition.

14. January 22, 1891 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, January 22, 1891

Click image to open full size in new tab

Article Text

KANSAS CITY, Mo, Jan. 21.-While the run inauguarted on the Kansas City Safe Deposit and Savings Bank last Monday morning continued this morning, the indications that the end is near are very strong. At the hour of opening there were not over 125 persons standing in line. Since then the line has decreased very materially. This, taken in connection with the fact that the bank bad over $900,000 in deposits on Monday morning, and that less than $70,000 has been paid out, shows that there is a strong undertone of con fidence among the depositors. There is nothing new this morning in connection with the American National Bank fuilure,

15. January 22, 1891 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, January 22, 1891

Click image to open full size in new tab

Article Text

Another Bank Fails. KANSAS CITY, Jan. 22.-Bank of Downs, Mitchel county, suspends owing to suspension of American National of this city.

16. January 22, 1891 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, January 22, 1891

Click image to open full size in new tab

Article Text

FINANCIAL REVERSES. Aftermath of the American National Bank Failure. ATCHISON, Kan., Jan. 21.-The Cawker City State bank has failed and is in the hands of a receiver. The liabilities and assets cannot be ascertained. This makes the third bank in Mitchell county that has failed this week, and the fourth within a week. NEW YORK, Jan. 21.-The property in this state of the American National Bank of Kansas City, Mo., has been attached by order of the supreme court in an action brought by the Bowery Savings bank to recover $429.

17. January 29, 1891 Thomas County Cat Colby, KS
Article from Thomas County Cat, January 29, 1891

Click image to open full size in new tab

Article Text

American National Failure. KANSAS CITY, Mo.-The failure of the American National bank was caused by distrust. For weeks there have been rumors to the effect that the bank was unsafe. The quarterly statement made by the American National October 2 showed that it had nearly $4,200,000 on deposit. The distrust caused by the failures in the east added to reports set in circulation adverse to the bank caused its deposits to fall off $1,800,000 between the statement of October 2 and that of December 13. The deposits on December 19 were shown by the statement of that date to have been about $2,500,000. More than half of these were drawn out up to last Saturday night, when there remained $1,200,000, offset by cash and sight exchange to the amount of $400,000. The liabilities this morning are fixed at $3,500,000. The assets $2,250,000. The run which was begun on the Kansas City Safe Deposit and Savings bank continues to-day. As early as 7 o'clock there was a long line of depositors in front of the bank waiting for the doors to open. When the bank was opened at 9 o'clock there were more than 200 people in the line, and there was a rush for the paying teliers counter. Every one is paid as fast as their accounts can be settled. By noon the crowd had decreased somewhat and it is thought that the worst is over. While the paying teller has all he can attend to the receiving teller is not idle. There is much confidence in the ability of the bank and many are not afraid to show their confidence by entrusting their money to its keeping.

18. January 29, 1891 Herald and News Randolph, VT
Article from Herald and News, January 29, 1891

Click image to open full size in new tab

Article Text

NEWS OF THE WEEK. Brief Record of Important Events During the Past Seven Days. Sir Edwin Arnold has left Japan for England. The Indian scare along the Manitoba frontier is over. Baron Schmidt, the noted architect, is dead at Vienna. The Balfour Irish relief fund now amounts to £30,000. The resignation of the entire ministry is reported from Rio Janeiro. Gen. Lee's birthday was celebrated in Richmond and other Southern cities. In London the verdict of death from starvation is returned in numerous cases. Meissonier, the illustrious French painter, is seriously ill with bronchitis. Messrs. W. Parker & Sons of Lowell, Mass., have refused to enter the bobbin trust. The reported death of "Doc" Wilson in Arizona is not believed by his friends in Boston. The New York Central Labor Union has begun a boycott against the Clark thread. Frank Sayles, aged 15, was drowned while skating at Fall River, Mass., Wednesday. Cardinal Simor, Primate of Hungary and Archbishopof the free city of Gran, is dead. The discount rate of the Bank of England has been reduced from 4 per cent. to 31-2 per cent. The grip has again appeared at May's Landing, N. J., and is spreading to an alarming extent. Smallpox is becoming A raging epidemic throughout the central and southorn parts of Texas. The American National bank of Kansas City has suspended. The bank had a capital of $1,250,000. Ex-Postmaster Elisha Johnson of Thompsonville, Conn., is dead in that village, aged 85 years. John Coakley was thrown from a sled while coasting in Boston and died of his injuries Tuesday morning. W. H. Luce of Maine has been appointed Collector of Customs for the District of Waldoborough, Maine. Ezra J. Cady, of Centreville, R. I., has died of injuries inflicted by his insane brother of whom he had the care. The English tourist who insisted on climbing Mount Vesuvius without a guide has been found safe and sound. The general assignment of Charles H. Barrett, a prominent shoe manufacturer of Rochester, N. Y., has been filed. Capt. M. W. Quinn, proprietor of the Hotel Richelieu, St. Louis, is dead. He was well known to the traveling public The sudden and rapid thaw caused a landslip at Folkstone, England, which buried a cottage and killed three persons. Jeremiah Sullivan of Providence, R. I., for killing his wife in a drunken row on Nov. 21 last, was sentenced to 10 years in prison. David Emery, a well-known oil producer, is dead at Titusville, Pa. He WBS once a member of the Pennsylvania Legislature. The will of Alexander Bavis, of Tarry. town, N. Y., has been filed with Surrogate Coffin. He leaves $20,000 to his family. A dispatch from Zanzibar states that Baron Wissmann, the German Commissioner to East Africa, has become insane. The President has appointed David M. Benjamin a World's Fair Commissioner from Wisconsin, vice J. L. Mitchell, resigned. any Baggagemaster Swasey, who was injured in the Boston Maine railroad collision at Scarboro Beach, Me., Thursday, is dead. About 100 of the alumni of Williams College participated in their annual reunion at the Parker House, Boston, Thursday. A bill has been introduced in the Pennsylvania Senate that not more than $3 a month shall be charged for the use of the telephone. By the will of the late Dr. Alvan Talcott of Guilford, Conn., Yale College will receive $25,000 and a valuable medical library. The chess game between Steinitz and Gunsberg in New York for the World's championship, was won by Steinitz, Thursday night. The employer of the Great Western Railway Company of England threaten to go on strike in order to secure better hours of labor. Ex-President Cleveland has contributed $25 to be used to assist the school for instruction of colored children at Vicksburg, Miss. The wife of ex Senator Griggs, the Re publican leader in New Jersey, died suddenly Thursday night in Paterson of neuralgia of the heart. While it is true that many strikers on the Scotch railway have gone back to work, the majority are still out, and the fight is not yet ended. David Shiwinski, a New York salesman, hung himself at Dudley, Pa., Thursday night. Blighted affections was the cause of the suicide. The death of Prince Bandoin, heir to the throne of Belgium, last Thursdy, has caused much comment, and it is reported that he took his own life. President Harrison has appointed First Lieutenant H. D. Smith of Massachusetts to be a captain in the revenue service of the United States. Loecatia Harrington, an ex-actress of 22, killed herself in New York Wednesday with a 22-calibre revolver, after carefully putting on her newest finery. The glass

19. January 31, 1891 Western Kansas World Wakeeney, KS
Article from Western Kansas World, January 31, 1891

Click image to open full size in new tab

Article Text

The Liabilities Reach $3,500,000. KANSAS CITY, Mo.-The failure of the American National bank was caused by distrust. For weeks there have been rumors to the effect that the bank was unsafe. The quarterly statement made by the American National October 2 showed that it had nearly $4,200,000 on deposit. The distrust caused by the failures in the east added to reports set in circulation adverse to the bank caused its deposits to fall off $1,800,000 between the statement of October 2 and that of December 13. The deposits on December 19 were shown by the statement of that date to have been about $2,500,000. More than half of these were drawn out up to last Saturday night, when there remained $1,200,000, offset by cash and sight exchange to the amount of $400,000. The liabilities this morning are fixed at $3,500,000. The assets $2,250,000. The run which was begun on the Kansas City Safe Deposit and Savings bank continues to-day. As early as 7 o'clock there was a long line of depositors in front of the bank waiting for the doors to open. When the bank was opened at 9 o'clock there were more than 200 people in the line, and there was a rush for the paying tellers counter. Every one is paid as fast as their accounts can be settled. By noon the crowd had decreased somewhat and it is thought that the worst is over. While the paying teller has all he can attend to the receiving teller is not idle. There is much confidence in the ability of the bank and many are not afraid to show their confidence by entrusting their money to its keeping.

20. March 29, 1891 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, March 29, 1891

Click image to open full size in new tab

Article Text

GEN. DODGE WANTED. He is Vice President of Broken New York Bank. BUSINESS MAY BE RESUMED. Ex-Bootblack Silver Get Away With 878,000-A Counterfeit That Can Scareely Be Detected. NEW YORK, March 28.-[Special.]-The principal interest in the affairs of the Washington National bank at present centers in the probable action of the United States district attorney and grand jury concerning President Sherman and the great overdraft-maker. Silver. It is asscrted that the directors have been in consultation with District Attorney Nicoll and are determined to prosecute Silver. They will leave President Sherman's case to be disposed of by Comptroller Lacey. The grand jury meets Monday, and the bank matter may be considered. The directors of the bank will hold a' meeting, and it is expected that General E. M. Dodge will be in attendance, as he started from Seattle today. If he does return the meeting will formally consider the question of re-organization, and will undoubtedly be guided to a great extent by the general's wishes, as he is not only one of the largest individual stockholders and vice president of the bank, but he has the confidence of the other directors and stockholders. No new developments were forthcoming today as to Silver's dealings with the bank. His $78,000 of overdrafts still remain unpaid, and so far as can be ascertained, they are likely to remain 80 for some time to come. Silver himself is as hard to find as ever. BOSTON, March 22.-The Boston Car Spring Company is financially embarrased. Its debts are about $116,000; assets, $25,000. Thomas C. Lothrop, treasurer of the company. has gone into insolvency. COLUMBUS, March 28.-Representatives of the Shawnee Point Coal and Iron Company have applied to the United States court for a master, to take charge of the affairs of the company. Charges are made that President Welch and others have fraudulently appropriated $115,000 in bonds, together with several thousand dollars of the profits of the company. LONDON, Ont., March 28.-The wholesale dry goods house of John Birel & Co. failed today. Liabilities, $250,000; assets, $125,000. WASHINGTON CITY, March troller of the currency received a telegram today from the examiner in charge of the American National Bank, of Kansas City, saying the entire amount of the capital of the bank ($500,000) had been paid in and the bank would open for business Tuesday or Wednesday next. The examiner says the bank has $1,700,000 in its vault, including $635,000 which had been taken from the bank by the examiner and which has just been restored by order of the comptroller of the currency. Comptroller Lacey today received the official report of Examiner Hepburn regarding the Washington National bank, of New York, but refuses to disclose its contents. He has addressed a communication to Hepburn, suggesting that only two courses are open if a receivership is to be avoided. In the first place the comptroller can levy an assessment of 50 per cent. upon the capital stock, which would reinforce the assets of the bank by $150,000 cash. This could be done, however, in case the directors and larger stockholders would agree to advance for shareholders not prepared for immediate payment. In case this amount was paid in the comptroller would permit the bank to resume business and the amounts due depositors and creditors would be immediately available. In case resumption is impracticable, the comptroller suggests that $357,000 in addition to the immediately available assets already in hand would enable the bank to pay the creditors promptly in full, whereupon they could vote to go into voluntary liquidation and close the affairs of the bank themselves. This might be raised upon a pledge of loans and discounts of the bank, supplemented, if necessary, by the personal guarantee of the larger shareholders. If one of these plans is not adopted it will be his duty to appoint a receiver and close the bank up in the usual way. NEW YORK, March 28.-There was no unusual excitement at the Merchants' and Traders' bank today. President Boskowitz denied that the bank is in trouble in auy way, and has offered a reward of $1,000 for evidence that will convict the person or persons who instigated the reports concerning the stability of the institution. A clearing-house committee today examined the affairs of the Mechanics' and Traders' bank, and found it to be in a perfectly solvent condition. All reports affecting its solvency or suggesting irregularities the committee declared unfounded.

21. March 31, 1891 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, March 31, 1891

Click image to open full size in new tab

Article Text

Business Resumed. KANSAS City, March 31.-The American National Bank of this city which falled January 19, resumed business this morning, with over $1, 725,000 in cash in its vaults. It was predicted that there would be a run on the bank when It opened, but on the contrary, the bank has received deposits from its old customers and there is a general feeling of confidence in the new organization.

22. April 1, 1891 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, April 1, 1891

Click image to open full size in new tab

Article Text

The American National Bank Resumes. KANSAS CITY, March 31.-The American National bank of this city, which failed January 19 resumed busines this morning with over $1,725,000 in cash in its vaults. It was predicted there would be a run on the bank when it opened, but on the contrary the bank has received deposits from its old customers and there is a general feeling of confidence in the new organization.

23. April 2, 1891 Mexico Weekly Ledger Mexico, MO
Article from Mexico Weekly Ledger, April 2, 1891

Click image to open full size in new tab

Article Text

LATE NEWS ITEMS. A St. Paul policeman committed suicide on being served with a warrant of arrest for theft. The fiftieth annual commence. ment exercises of the Missouri Medical College took place last night. All the living Italians charged with complicity in the Hennessy murder at New Orleans have been released on bond. It has just leaked out that some 14 prisoners at Jefferson Barracks made good their escape from the guard house on Sunday. The American National Bank of Kansas City resumed business yesterday after a suspension of two months and 14 days. There is no little indignation at St. Charles over the killing of Jesse Hale by the young bridge watchman, James W. Hill. After 40 years of wedded lite the wife of Wm. Garnaut, of Macon, Mo., has sued for divorce. Neighbors threatened to mob the interloper and he skips. Mrs. Catherine Luhrs, of Brooklyn, was put into an insane asylum by her favorite daughter, who plotted to get her property. She was released on application of another daughter. Chauncey M. Depew and other directors of the New York, New Haven and Hartford Railroad Company, were indicted in New York for misdemeanor in connection with the collision in the tunnel. Baron Fava, Italian Ambassador to the United States, has presented letters of recall, but has not as yet demanded his passport. The affair has created great excitement in all exceptofficial circles. There it is regarded as not necessarily serious. The result of this sudden action, in view of the status of the New Orleans not inquiry, cannot be foretold.

24. April 8, 1891 New Ulm Weekly Review New Ulm, MN
Article from New Ulm Weekly Review, April 8, 1891

Click image to open full size in new tab

Article Text

INGENERAL, Judge Altgeld, of Chicago, decides that a wife may sue a husband for slander. ALL but four of the Italians killed at New Orleans areshown to have been voters. A BILL for the taxation of certain railroad land is passed by the Minnesota house. ITALIAN laborers in Pennsylvania form an association. or Mafia society. The New York Smelting and refining Company of New York has been put in a receiver's hands. Gov. MARKHAM of California has signed the bill making train wrecking punishable by death. The ice in the Missouri has broken and. is running out rapidly without the prospect of much overflow. David Taylor, associate justice of the supreme court, died suddenly at the supper table at Madison, Wis, aged seventy-one. The cause was heart disease. The American National Bank of Kansas City, which failed Jan. 19, has resumed business. The bank has over $1,725,000 in cash in its vaults. ALL papers in Alabama will publish a call for a convention to meet in Montgomery on May 20 and start a movement to raise $100,000 for an exhibit at the world's fair. A gas tank exploded in Keene's photograph gallery at Redwood Falls, seriously injuring V. M. Keene and his infant SON. The gallery was demolished by the explosion. Mr. Keene was conducting an experiment, which resulted as above stated. THE steamer Westernland, from Antwerp, landed 1,337 immigrants at the barge office. Forty-one musicians, said to have come here under the padrone system, are detained at the barge office until their cases can be looked up. AT Birmingham, Ala., a decree of the chancery court was rendered ordering the sale of the Mary Prait Furnace, which has been recently thrown into the hands of a receiver. A half million dollars is invoived. THE grip scourge in Pittsburg is still holding on with deadly results. Some seventy-two funerals, occurred in one day recently and an equal number were postponed on there being a shortage of hearses and carriages. The district convention of the Epworth league held their session at Chatfield Nearly 100 delegates and 20 chapters represented. Prominent ministers" present are Revs. Bibbie and Cornish, of Winona: Jennings, of Red Wing; White, of Lake City; Doran, of Rochester, Minn. REPORTS received at the office of the Kansas state board of agriculture indicate that there is more moisture in the ground in Western Kansas than there has been at this season for many years. The acreage in wheat is much larger than last year, and, barring hail storms, the crop will be an enormous one. SUPERINTENDENT of Immigration Webber says the immigration from Italy is rapidly increasing, in fact leading that of all other countries. The figures for March are: Italy, 7,869; Germany, 7,087; Great Britian and Ireland, 4,386; Hungary. 3,589; Anstria, 3,484; Russia, 2,923; total, 29,338. Sixteen hundred and seven Italians were landed at The state irrigation convention waslargely attended, thirteen of the eighteen counties in the irrigable district being represented. Five delegates from each county were appointed to attend the interstate convention, with L. H. Hole ofHuron, S. D., chairman and Maj. H. F. B. Coffinand State Engineer Baldwin as committeemen at large