Newspaper accounts (Nov 13, 1926) report heavy withdrawals (a run) on the Kansas City Trust Company which prompted the board/governors to place the institution in the hands of the state finance commissioner. The articles do not state whether the bank later reopened or was permanently closed, so the outcome is unclear.
Events (2)
1.November 13, 1926Run
Cause
Rumor Or Misinformation
Cause Details
Newspapers report 'heavy runs by depositors' on the trust company; no specific insolvency allegation given, suggesting panic/rumors prompted withdrawals.
Measures
Board of governors voted to place the institution in the hands of the state finance commissioner (move to suspend/payments control).
Newspaper Excerpt
Heavy runs by depositors ... caused the move
Source
newspapers
2.November 13, 1926Suspension
Cause
Government Action
Cause Details
Board/governors voted to place the bank in the hands of the state finance commissioner due to heavy withdrawals.
Newspaper Excerpt
Kansas City Trust Company suspends ... board of governors voted to place the institution in the hands [of] the state finance commissioner
Source
newspapers
Newspaper Articles (2)
1.November 13, 1926Democrat and ChronicleRochester, NY
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Article Text
KANSAS CITY TRUST COMPANY SUSPENDS
Kansas City, Nov. sociated Federal Company of with $2,000,000. was to-day by the board of governors the institution the hands the finance commisHeavy by depositors in caused the believed the protected The trust company general banking business
AIR PASSENGER KILLED.
Van the Press) Donald Rossiter. 21. Los Angeles, killed the Pacific Air Transportation Company from an altitude 3,800 feet into Whitley south early to-day. The Charles E. Widmer, also of Los jumped to safety his parachute.
2.November 13, 1926Record-JournalMeriden, CT
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Article Text
Big Kansas City Bank Is Closed By Governors
Kansas City, Nov. Federal company KanCity, deposits of about closed late today the board of governors votto place the in the hands the state finance commissioner. Heavy runs by depositors in the two caused move, Laughlin, president, declarsaid the board believed the were amply protected. The trust company did general banking business.
