9151. Stock Yards Bank of Commerce (Kansas City, MO)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
December 5, 1907
Location
Kansas City, Missouri (39.100, -94.579)

Metadata

Model
gpt-5-mini
Short Digest
e32d07f352ce3794

Response Measures

None

Description

The Stock Yards Bank of Commerce (a small state institution in Kansas City) closed when its parent, the National Bank of Commerce, suspended on Dec 5, 1907. The Stock Yards bank was taken in charge by the state examiner and was bought from the receiver and reopened within a few days (reports point to reopening Dec 9–11, 1907). There is no clear evidence of an independent depositor run on this branch; closure was caused by the parent's failure.

Events (2)
1. December 5, 1907 Suspension
Cause
Local Banks
Cause Details
Closed as a consequence of the suspension/failure of its parent bank, the National Bank of Commerce of Kansas City, which failed to open Dec. 5, 1907.
Newspaper Excerpt
Two small branches of the National Bank of Commerce, one located at the Union Stock Yards ... closed their doors this morning. They were the Stock Yards Bank of Commerce ...
Source
newspapers
2. December 10, 1907 Reopening
Newspaper Excerpt
The Stock Yards Bank of Commerce ... resumed business this morning with $80,000 in cash and sight exchange on hand against $120,000 of deposits. The bank was a state institution and had been taken in charge by State Bank Examiner Cook.
Source
newspapers

Newspaper Articles (21)
1. December 5, 1907 The Roswell Daily Record Roswell, NM
Article from The Roswell Daily Record, December 5, 1907

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Kansas City, Mo., Dec. 5.-The National Bank of Commerce of Kansas City, Mo., failed to open this morning, and is in the hands of National Bank Examiner James T. Bradley. The bank is one of the oldest and largest finanI cial institutions of this city. It was closed by order of the board of directors. Dr. S. Woods is president of the Commerce, W. H. Winants and Wm. vice Bank president of Rule cashier. the Cashier Rule said, "We made fight of our lives, but the conditions were against us. The depositors will not lose a cent." Dr. Woods is president also of the Commercial Trust t Company, which has deposits of $1,395,400, of which sixty per cent is on hand. This company, it is asserted, will not be affected by the bank failure. Bank Examiner Bradley said he would make every effort to get the bank on its feet, but could not say definitely when it would re-open. The bank had been in a weakened condition since its last statement, August 22 last, which showed then it owed the clearing house nearly a After a million dollars. conference house last offiing all night the clearing cials could not see any way to aid the bank further. The statement of the bank in response to the last call showed that since August 22 the deposits had been reduced from thirtyfive millions to $16,942,694, and the loans and discounts cut down four millions. The statement issued this morning was as follows: Resources:-Loa and discounts, $12,895,656 real estate, $697,542; five per cent redemption fund, $50,000; cash and sight exchange, $5,343,460; U. S. Bonds ,par, $1,280,000; other high grade bonds, $4,006,771. Total, $24,276,429. Liabilities:- Capital stock, one mill ion dollars; surplus and undivided profits, $1,639,734; circulation account, $1,000,000; deposits, $16,942,694; clearing house certificates, $3,694,000. Total. $24,276,429. The President of the clearing house said: "I consider the failure due to lack of conservatism. None of the other banks here have found it necessary to ask aid of the clearing house, and I consider them perfectly sound. The Bank of Commerce failure will not affect them." The Bank of Commerce held deposits of many small banks in the southwest, and withdrawals of their funds caused the trouble. There had been no run by local depositors, but the publication of the bank's statement this morning caused a big crowd to collect with the intention of withdrawing their money. Two small branches of the National Bank of Commerce, one located at the Union Stock Yards and the other in the wholesale district in the West bottoms, closed their doors this morning. They were the Stockyards Bank of Commerce with deposits of $300, 000, and the Union Avenue Bank of Commerce with small deposits. There were no runs on other banks of Kansas City, and deposits were made as usual. A Statement From Washington. Washington, Dec. 5.-The comptroller of the currency today issued the following statement regarding the failure of the Bank of Commerce of Kansas City: "The Comptroller's office has been advised that the officers and directors of the National Bank of Commerce of Kansas City decided not to open the doors of the bank today, and requested a national bank examiner to take charge until assets can be realized on, when it may be possible for the bank to resume. This bank is one of the largest in the West, and in September last had about thirty-four millions on deposit. Something like twenty-two millions of this was due

2. December 5, 1907 The Evening Statesman Walla Walla, WA
Article from The Evening Statesman, December 5, 1907

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KANSAS CITY BANK CLOSES CALL OF COMPTROLLER OF CURRENCY SHOWS CASH RESERVE BELOW LIMIT. KANSAS CITY, Dec. 5.-The National Bank of Commerce failed to open it's doors this morning. This bank did the largest business in the Missouri valley. On the door of the institution was posted a notice which stated. "This bank is closed by order of the board of directors. It is in the hands of Bradley, the bank examiner, by order of the comptroiler of the currency." The statement published today in reply to Ridgeley's call yesterday shows the effect of the stringency. The National Bank of Commerce, deposits last August, when last called on for statement, were $35,000,000, yesterday they were $16,000,000. President W. S. Woods will issue a statement later in the day. Vice-President Wineants states the bank was murdered by panic gossip and that there is money enough in sight to pay the depositors in full. The bank had allowed the drain on its cash resérve to continue too long and when called on for a statement was found below the legal limit. The institution had intended to move into a new 16-story building shortly. As the result of the failure of the National Bank of Commerce, the Stockyards bank, and two branches of the National Bank of Commerce closed today. President Woods said this afternoon that during the panic deposits had been reduced $18,000,000.

3. December 5, 1907 The Laramie Republican Laramie, WY
Article from The Laramie Republican, December 5, 1907

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Branch Institutions Fail. Kansas City, Mo., Dec.. 5.-Two small branches of the National Bank of Commerce, one located at the Union stock yards and the other in the wholesale district in the west bottoms closed their doors this morning. They were the Stock Yarks Bank of Commerce, with deposits of $300,000, and the Union Avenue Bank of Commerce, with small deposits. There were no runs on the other banks, and deposits were made as usual.

4. December 6, 1907 The Montgomery Advertiser Montgomery, AL
Article from The Montgomery Advertiser, December 6, 1907

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BIG BANK FAILURE NATIONAL BANK OF COMMERCE OF KANSAS CITY SUSPENDS. This Was One Of The Largest Financial Institutions In The West And Had Sixteen Millions On Deposit. Kansas. City, Mo., Dec. 5.-The National Bank of Commerce, of Kansas City, Mo., one of the largest in the West, with deposits of $16,000,000, closed its doors today and was taken in charge by a national bank examiner upon an order of the comptroller of the currency. Later two small outlying banks in which the Bank of Commerce was interested, the Stock Yards Bank of Commerce and the Union Avenue Bank of Commerce, also closed. The failure of these banks had been predicted for several days and but little excitement followed the announcement of the news. although crowds of depositors gathered about the d'oors of these institutions. The officials of the Commerce, which is affiliated with many banks here and in other parts of the Southwest, express the belief that none of them will be seriously affected.

5. December 6, 1907 Watertown Weekly Leader Watertown, WI
Article from Watertown Weekly Leader, December 6, 1907

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BANK FAILURE AT KANSAS CITY, MO. Large Financial Institution Is Forced to Close Its Doors. NATIONAL EXAMINER IN CHARGE News of the Failure Brings a Crowd to Bank Which Stops Street Traffic. Deposits of the Institution, the Nation. al Bank of Commerce, Have Fallen Off Heavily Other Banks Closed. Kansas City, Mo., Dec. 6.-The Na. tional Bank of Commerce of Kansas failed to open in and is in the the City, the morning, Mo., hands its doors of national bank examiner. The bank is oldest here and is larginstitution in est one financial of the the the city. The following notice was posted on of the bank at m.: the door 8:30 by a. "This bank has been closed order board of directors. It is in the of James T. hands of the Bradley, of the national bank examiner, by order comptroller of the currency." Bank in Weakened Condition. The bank has been in a weakened since its last condition statement, last. At which was issued Aug. 22, that time it was stated the bank owed the clearing house close to a million dollars. When the financial disturbance came and the clearing house decided to issue clearing house certificates, rumors regarding the bank's came, and the clearing in the past few days, condition house, has national held several conferences of other banking officials here in this connection, and means of keeping the bank open were discussed. No Response to Comptroller. Much surprise was expressed when the request of the comptroller for a of condition of was to by the statement not responded National banks Bank of Commerce. Other local banks pubtheir statements, a but of lished healthy condition, the showing officials the Commercial announced that its statement would not be forthcoming till morning. This created further distrust in the condition and after into the early bank's lasting hours conferences officials of the morning, the clearing house decided they could not aid the failing bank. Heavy Reduction in Deposits. the statement of the of Commerce the Bank When appeared that National in since morning papers it showed the statement of Aug. 22. last, the deposits had been reduced from close to $35,000,000 to $16,952,969. The statealso, that the item of discounts had been loans ment and showed, showing cut down $4,000,000. Its statement the off in deposits drew a of depositors to as big heavy crowd failing evidently the bank intent early as 9 o'clock, withdrawing their money. More excitement followed bank had been upon that or less the closed, the and news the crowd gradually grew in size until it stopped traffic. Depositors Will Not Lose. William A. Rule, cashier of the bank, made the following statement the in the presence of Dr. W. S. Woods, president: "The directors of the National Bank Commerce thought it was best to at of least close temporarily. We made the fight of our lives, but conditions were against us. The depositors will not lose cent." Dr. Woods acquiesced in what the cashier said and added: "You may also say that the Commerce Trust company is absolutely all right. Yesterday's statement showed 60 per cent of its cash on hand." Branch Banks Close. small branches of the Two located the National at Bank of Commerce, one the Union Stock Yards and the other in wholesale district in the west bottoms, also closed their doors during the morning. They were the Stock Yards Bank of Commerce, deposits. $300,000. Union Avenue Bank of Comwith small merce, and the deposits. around There was no especial excitement these institutions. The failure of these banks failed to cause a run on any of the other banks in this city. The State bank of Argentine, Kan., suburb, with small deposits, closed fola its doors early in the afternoon lowing run. Statement of Comptroller. Washington, Dec. 6. The comptrolcurrency, in a statement rethe failure of the Commerce of garding ler Bank of of the Kansas National City, says: bank is one of the largest in and in September of the about "This west $34,000,000 deposits. last Some- had due like $22,000,000 of this was thing other banks. The failure is doubt- made less to due to calls which have been National Bank of Commerce for banking to realize on their on ability these the balances them. and assets their quick- inly enough to meet "It is hoped that the bank will be be found solvent, so the depositors can paid in full if the bank is not able to resume."

6. December 6, 1907 The Chickasha Daily Express Chickasha, OK
Article from The Chickasha Daily Express, December 6, 1907

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KANSAS CITY BANKS RECOVER FROM SHOCK Of The Failure-No Evidence of Run Today -Argentine Bank Opens-Normal Conditions Again Prevail Kansas City, Mo., Dec. -There was no evidence of a run on any of the local banks in the early hours toMEDICAL day, and bank officials gave it as their opinion that the crises resulting from the failure yesterday of the National Bank of Commerce was OVSOCIETY er and normal conditions would soon exist again. One of the small banks that closed HOLD THEIR ANNUAL ELECTION OF yesterday, the First State Bank of OFFICERS-MEET AGAIN Argentine, reopened for balance this JAN. 3 morning. The bank had deposits of a quarter of a million dollars and the The Grady County Medical Society cashier says it is in a perfectly sound condition. This is confirmed by the held a business meeting this mornstate bank examiner, Mr. Royce, who ing in the offices of Drs Penquite came to Kansas City last night. and Shippey. No program was renThe First State Bank of Argentine dered and the annual election of ofshould not be confused with the the ficers was held, the following being Argentine State bank. The Argentine National bank did not close its chosen: doors and was conducting business President, Dr. J. E. Stinson, rethis morning in the usual way with elected. no indications of a run. Vice president, Dr. W. L. Peters. John Swanger, secretary of state Secretary, Dr. A. M. aLfferty. of Missouri, and State Bank Examiner Cook arrived here today and Treasurer, Dr. M. Coryell. took charge of the Stock Yards Bank Censor for ensuing year, Dr. W. of Commerce and the Union Avenue L. Peters. Bank of Commerce, two small banks, The society adjourned to eet with that closed yesterday. An effort is Drs. Penquite and Shippey on Jan. y to be made to open them at once. 3, 1908. e

7. December 6, 1907 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, December 6, 1907

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BIG BANK SUSPENDS Largest Institution in Kansas City Closes Its Doors. FAILURE NOT UNEXPECTED Deposits Had Decreased From $35, 000,000 on Aug. 22 to About $16,000,000 at the Present Time-Two Small Branches Also Forced to Suspend. Kansas City, Dec. 6.-The National Bank of Commerce failed to open its doors and is in the hands of a national bank examiner. The bank is oldest here and is Institution in one est of financial the posted the the larg- city. on The following notice was the door of the bank: "This bank has been closed by order of the board of directors. It is in hands of James T. Bradley, nabank by the tional the examiner, currency." order of comptroller of the The bank had been in a weakened condition since its last statement, which was issued Aug. 22 last. At that time it was stated the bank owed the clearing house close to $1,000,000. When the financial disturbance came and the clearing house decided to issue house certificates rumors the bank's regarding clearing condition in were the current and the clearing house, few has held at which means past ferences days, several of keeping conthe bank open were discussed. was when the Wednesday Much surprise request expressed of of condi- the for a statement was not tion comptroller of banks responded Commerce. to by National Bank of local banks showing a statements, the Other published healthy condi- their of tion, but the officials of the Bank Commerce announced that its statement would not be forthcoming for a time. This created further distrust in the bank's condition and after conferences lasting nearly all night the clearing house officials decided they could not aid the failing bank. When the statement of the National Bank of Commerce appeared it showed that since the statement of Aug. 22 last the deposits had been reduced from close to $35,000,000 to $16,952, 969. The statement showed also that the item of loans and discounts had been cut down $4,000,000. Officers of the Institution. The principal officers of the Naof Commerce are Dr. W. S. president; W. tional Woods, Bank William H. Winants, A. Rule, vice president, and cashier. Its directors and stockholders include some of the most promin the city. Dr. Woods also of the of Kansas City, is company inent president men Commerce which has Trust of a of $1,000,000 and Since its last capital $1,395,969. deposits statement company the deposits of the trust have increased nearly $200,000 and is believed to F. Downing, National bank that sound James institution England condition. president and be of head in the a local Clearing the belief of New tion, the expressed House that associa- would the of the Commerce bank any institution and that be able to not City failure involve deeply other weather other Kansas local the National Bank storm. banks would The numerous of Commerce held the deposits of small banks in this part of the Southwest. What effect the failure will have upon them is problematical. On Aug. 1 the Commerce bank owed other national banks $13,299,450 and and bankers $9,819,495. had been no run by state There banks local outside depositors, but many of the banks caused trouble by withdrawing their funds on deposit with the Commerce. William A. Rule, cashier of the bank, made the following statement the in the presence of Dr. W. S. Woods, president: "The directors of the National Bank thought it was of at close temporarily. least Commerce We best made to the fight of our lives, but conditions will were against us. The depositors not lose a cent." Two small branches of the National Bank of Commerce, one located at the in stock yards and the other district in the the Union wholesale doors. west They bottoms, also closed their were the Stock Yards Bank of Commerce, deposits $300,000, and the Union Avenue Bank of Commerce, with small deposits. There was no institu- especial excitement around these tions. (as

8. December 7, 1907 The Colorado Statesman Denver, CO
Article from The Colorado Statesman, December 7, 1907

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Kansas City Bank Failure. Kansas City.-The National Bank of Commerce, the second financial institution in importance in Kansas City, announced its suspension instead 01 opening Thursday morning, after a steady run of six weeks, during which the bank had paid off $19,000,000 of its deposits, reduced its loans $3,500,000, cut down its cash resources $11,750, 000, and sold $2,000,000 of high grade bonds in an effort to meet the demands upon it. Later three small outlying banks in which the Commerce was interested, the Stock Yards Bank of Commerce, the Union Avenue Bank of Commerce and the State Bank of Argentine, also closed. The failure of these banks had been predicted for several days and but little excitement followed the announcement.

9. December 9, 1907 The Roswell Daily Record Roswell, NM
Article from The Roswell Daily Record, December 9, 1907

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STOCKYARDS BANK OF COMMERCE TO RE-OPEN. Kansas City, Dec. 9.-Arrangements were practically completed today for re-opening tomorrow morning the Stockyards Bank of Commerce, with deposits of $250,000, which failed last week following the closing of the National Bank of Commerce. The institution was bought outright from the receiver of the National Bank of Commerce. This will be the second bank to resume since the flurry of last week. The directors of the National Bank of Commerce are working hard on a plan for the re-opening of that bank and hope to make a sufficiently good showing.

10. December 10, 1907 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, December 10, 1907

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g Another Branch of the Come merce Resumes Business. The One at the Stock Yards Put h o on Its Feet. S 1 . THE PARENT CONCERN. Is in a Fair Way to Start Up Again Soon. Directors Go to Chicago to See Ridgely About It. Kansas City, Mo., Dec. 10.-A second small bank affiliated with the National Bank of Commerce, that closed when the parent institution failed last Wednesday, resumed business this morning. It was the Stock Yards Bank of Commerce and it reopened with $80,000 in cash and sight exchange on hand, against $120,000 deposits. The bank was a state institution and had been taken in charge by R. M. Cook, state bank examiner under direction of Secretary of State Swanger. The Commerce Trust company, which also is affiliated with the National Bank of Commerce, took part of the assets of the Stock Yards bank and furnished cash and sight exchange sufficient to meet the demands of Secretary Swanger. The Union Avenue Bank of Commerce, another small branch of the National Bank of Commerce is in course of reorganization. "I have the plan for the reopening of that bank also," said Mr. Cook. today, "which I hope will be put through in the next few days.' The directors and stockholders continue to work on their plan for reorganizing the National Bank of Commerce and last night nine directors went to Chicago to meet William B. Ridgley comptroller of the currency, and talk with him of the affairs of the bank. They will be met there by David R. Francis of St. Louis and perhaps several St. Louis stockholders in the bank. At Washington yesterday Comptroller Ridgley declined to appoint Dr. W. S. Woods, the former president of the bank. as co-receiver with James T. Bradley. Now it is stated that the St. Louis stockholders of the bank. who are said to oppose the plans of the Kansas City directors, will ask that George L. Edwards of St. Louis, be made the permanent receiver. It was stated yesterday that Comptroller Ridgley was going to Chicago and it was arranged to have a conference with him today. The directors who left Kansas City for Chicago include some of the most prominent men in the city. They are R. A. Long, J. J. Heim, J. J. Swofford, Hugh C. Ward, H. F. Hall, J. C. T James, L. M. Jones, Edward Dickinson and W. A. Pickering. They are said to carry to Comptroller Ridgley assurances from Dr. Woods that he will personally I guarantee the prompt sale of one milt lion dollars of new capital of the t company. He said he could himself take care of half a million of this if t the capital stock of the bank is to be n increased to one million dollars, as has c been suggested. P J. J. Heim, a millionaire brewer, said last night: "If it is found advisable to increase t the capital stock to two millions, I n am sure that can be subscribed within 48 hours." P Mistake About Ridgely. p f Kansas City, Dec. 10.-It developed I late today that the local directors were misinformed about Comptroller Ridgely p going to Chicago, and that the latter is in Washington and has no intention of going away at present. It was stated at the National Bank of Commerce that the directors who left here last night would spend the day conferring C with Chicago bankers and with any of the St. Louis stockholders who may hat altu during the day and

11. December 10, 1907 Santa Fe New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe New Mexican, December 10, 1907

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SUSPENDED BANK RESUMES BUSINESS Subsidiary of National Bank of Commerce of Kansas City Re-OpensPlenty of Assets. Kansas City, Dec. 10.-The Stock Yards Bank of Commerce a small institution that closed when its parent bank, the National Bank of Commerce failed last Wednesday, resumed business this morning with $80,000 in cash and sight exchange on hand against $120,000 of deposits. The Union Avenue Bank of Commerce, another branch of the National Bank of Commerce is in course of re-organization.

12. December 10, 1907 The Daily Sentinel Grand Junction, CO
Article from The Daily Sentinel, December 10, 1907

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THE BIG BANK TO OPEN SOON (By Associated Press.) Ridgely refused to make Mr. Woods, Kansas City, Mo., Dec. 10.-The the former president of the bank, a Stock Yards Bank of Commerce, one co-receiver with James T. Bradley. small local bank that closed as a reThe directors are said to carry the sult of the failure of the National assurance to Mr. Ridgely from Mr. Bank of Commerce, reopened for Woods that he would personally business this morning. guarantee the prompt sale of a milThe Union Avenue Bank of Comlion dollars of new capital if the aumerce, another small branch of the thorization to increase the capital National Bank of Commerce, is in stock to that amount be given. course of reorganization. It later developed that the local The directors and stockholders are directors were misinformed about still at work upon a plan for reopenComptroller Ridgely going to Chicaing the National Bank of Commerce. go, and it is stated that the directors Last night nine of the directors went may go on to Washington from Chito Chicago to meet Comptroller of cago. the Currency Ridgely. Yesterday Mr.

13. December 10, 1907 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, December 10, 1907

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Temperature at Omaha yesterday: Hour. Deg. 5a. m THIS The 37 6am SUITS 36 7a.m 33 8 a. m 30 9a. m 29 10 a. m 29 11 a, m 29 12 m 28 1p.m 28 2p.m 29 3p.m. 29 4p.m 5p.m 6pm 7p.m 8 p. m ### 9p.m DOMESTIC. Kansas City men will buy the Stock Yards Bank of Commerce from the receiver of the National Bank of Commerce Page 1 President D. F. Walker of the California Safe Deposit and Trust company was arrested in Santa Barbara on a charge of irregularity in connection with the comPage 1 pany Owners of the mines at Monongah claim the death list will not be as large as estimated, while the men assert this is Page 1 untrue. Governor Hughes has not engaged rooms at the Auditorium hotel for the Page 1 convention as reported. Admiral Evans takes place on the flagship of the Pacific fleet and active prePage 1 parations for voyage begin. 1 Three brothers are drowned at at Page 1 Tama, Ia. Prominent attorney of Minneapolis asks for the impeachment of the supreme court Page 1 of Minnesota. Rebating cases against the packers are advanced in United States supreme court Page 1 on request of government. Cotton shortage grows according to Page 1 latest reports of government. Oklahoma representative introduces bill for initiative and referendum in United Page 2 States. Testimony given in the Haywood trial will in part be accepted by stipulation in Page 1 the Pettbone case. Posse of citizens kills two robbers at Page 1 Winlock, Wash. Wharton Golden testifies that his conscience and not a money payment prompt his testimony in the Powers case. Page 1 Senator Tillman introduces resolutions in the senate asking for an Investigation of the acts of Secretary Cortelyou in issuing bonds and certificates and also inquiring into the legality of clearing Page 2 house checks. Former Supervisor Gallagher, one of the prosecution's most important witnesses in the bribery cases in San Francisco, disPage 1 appears. FOREIGN. Mrs. Taft has narrow escape in severe storm' while being transferred from tender Holland to the President Grant. Page 1 The secretary of the admiralty defends the position of the government on the shorter life of battleships before the budget committee of the reichstag. Page 1 The funeral of King Oscar will be delayed for two weeks by necessary preparaPage 1 tions. NEBRASKA. Governor Sheldon listens to final plea of Harrison Clarke for commutation (f Page 3 his sentence. LOCAL R. J. Dunham, personal representative of J. Ogden Armour, heads the Union Stock Yards company, succeeding General Charles F. Manderson, who served unexpired term of the late W. A. Paxton. The rearrangement of directors on stock Page 1 yards company board. Grain pours into the Omaha market after two weeks of unusual quiet, while buying on the floor of the grain exchange is spirited and forty-two cars are sold in one day. Railroads have cars released during the flurry and are in good position to handle shipments. Thieves managed to move five tons of brick and stone in a vain effort to secure contents of conerstone of St. Philomena's cathedral at Ninth and Harney streets, the stone containing little of value except to the church. Ex-Mayor "Jim" Reed of Kansas City "handed it" to some executive officer of the people who wears and has been a cowboy at some time in his life, when addressing the democrats at Dahlman Page 10 banquet, COMMERCIAL AND INDUSTRIAL Live stock markets, Page 7 Grain markets. Page 7 Stocks and bonds. Page 7

14. December 10, 1907 The Barre Daily Times Barre, VT
Article from The Barre Daily Times, December 10, 1907

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BANK OF COMMERCE TO REOPEN. Bought Outright from Receiver of National Bank of Commerce. Kansas City, Mo., Dec. 10.-Arrangements were practically completed yes. terday for the reopening to-day of the Stock Yards Banks of Commerce, deposits $250,000, which suspended last week, following the closing of the National Bank of Commerce. The institution will be bought outright from the receiver of the National Bank of Commerce. This will be the second bank to resume since the flurry last week. The directors of the National Bank of Comemrce are working hard on- a plan for the reorganization of the bank and hope to make a sufficiently good showing.

15. December 10, 1907 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, December 10, 1907

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Kansas City Stockyards Bank of Commerce Resumed Business This Morning. UNION AVENUE REORGANIZING Directors and Stockholders of National Bank of Commerce Working On a Reopening Plan. Kansas City, Dec. 10.-A second small local bank affiliated with the National Bank of Commerce, that closed when the parent Institution failed last Wednesday, resumed business this morning. It was the Stockyards bank of Commerce. It re-opened with $80,000 in cash and sight exchange on hand. against 120,000 depositors. The bank was a state institution and had been taken in charge by R. N. Cook, state bank examiner under direction of Secy. of State Swanger. The Commeree Trust company, which also is affillated with the National Bank of Commerce, took part of the assets of the Stock Yards Bank of Commerce and furnished cash and sight exchange sufficient to meet demands of Secy. Swanger. The Union Avenue Bank of Commerce, another small branch of the National Bank of Commerce, is in the course of re-organization. "I have a plan for the re-opening of that bank also," said Mr. Cook today "which I hope will be put through in the next few days." The directors and stockholders continue to work on their plan for rebening the National Bank of Commerce and last night nine directors went to Chicago to meet William B. Ridgel. comptroller of the currency, and talk with him of the affairs of the bank. They will be met there by David R. Francis of St. Louis, and perhaps St. Louis stockholders in the bank. At Washington yesterday Comptroller Ridgley declined to appoint Dr. W. S. Woods, the former president of the bank, as co-receiver with James T. Bradley. Now It is stated that the St. Louis stockholders of the bank, who are said to oppose the plans of the Kansas City directors, will ask that George L. Edwards of St. Louis be made permanent receiver. It was stated yesterday that Comptroller Ridgely was going to Chicago and it was arranged to have a conference with him today. The directors who left Kansas City for Chicago include some of the most prominent men in the city, They are R. A. Long, J. J. Heim, J. J. Swofford, Hugh C. Ward, H. F. Hall, J. C. James, L. M. Jones, Edward Dickinson and W. A. Pickering They are said to carry to Comptroller Ridgely assurance from Dr. Woods that he will personally guarantee the prompt sale of $1,000,000 of new capital of the company. He said he could himself take care of $500,000 of this if the capital stock of the bank is to be increased to $1,000,000, as has been suggested. J. J. Heim, a millionaire broker, said last night: "If it is found advisable to increase the capital stock to $2,000,000, I am sure that it can be subscribed within 48 hours," It developed later today that the local directors were misinformed about Comptroller Rigdely going to Chicago, and that the latter is in Washington and has no intention of going away at present. It was stated at the National Bank of Commerce that the directors who left here last night would spend the day conferring with Chicago bankers and with any of the St. Louis stockholders who may arrive in that city during the day, and might go on to Washington later.

16. December 11, 1907 Alma Record Alma, MI
Article from Alma Record, December 11, 1907

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Examiner Re-Opens Bank. Kansas City, Dec. 11.-State Bank Examiner Cook has re-opened the Stockyards Bank of Commerce, one of the small banks affiliated with the National Bank of Commerce, and closed when the latter suspended. The Stockyards bank is the second small bank to re-open. It had $80,000 cash on hand! against $120,000 of deposits, and is amply backed to pay off every dollar if necessry and still remain in business.

17. December 11, 1907 The Bemidji Daily Pioneer Bemidji, MN
Article from The Bemidji Daily Pioneer, December 11, 1907

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Suspended Bank Resumes. Kansas City, Dec. 11.-The second small local bank affiliated with the National Bank of Commerce that closed when the parent institution failed last Wednesday has resumed business. It was the Stock Yards Bank of Commerce and it reopened with $80,000 in cash and sight exchange on hand, against $120,000 deposits. The bank was a state institution and had been taken in charge by State Bank Examiner Cook.

18. December 12, 1907 The Plymouth Tribune Plymouth, IN
Article from The Plymouth Tribune, December 12, 1907

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FOUR BANKS FAIL AT KANSAS CITY. National Commerce Institution Goes Down, Carrying 3 Smaller Houses With It. The National Bank of Commerce. the second largest financial institution in Kansas City, with $16,942,694 in deposits, failed to open its doors Thursday. Later three small institutions in which the Bank of Commerce was largely interested--the Stockyards Bank of Commerce, the Union Avenue Bank of Commerce, and the State Bank of Argentine, Kas., a suburb-also closed their doors. The failure of the National Bank of Commerce followed a steady run of six weeks, during which the bank had paid off $19,000,000 of its dep Sits, reduced its loans three and a halt million dollars, cut down its cash resources eleven and three-fourths million dollars, and sold two million dollars of high grade bonds in an effort to meet the demands upon it. The directors of the bank had been in conference practically all night before the decision to suspend business was reached. They gave out a statement Thursday morning saying that inability to collect money from borrowers as fast as it was demanded by the creditors of the bank was the cause o fthet closing. They said Chicago and New York bankers had offered assistance, but that it had been refused because they could not tell how long the heavy drains would continue. Certain Chicago, New York, and St. Louis bankers agreed to raise $3,750,000 to help out the National Bank of Commerce if that amount would pull the institution through. It was provided, however, the bank should be specially examined and the securities offered fo rthe loans to be made should be approved. A special examination proved conditions to be unsatisfactory and the bank was closed. A few of the Chicago banks already had advanced several hundred thousand dollars. One of the loans was secured by bonds. Another large bank, instead of making a loan, rediscontinued a large sum of commercial paper. The closing of the bank occasioned no disturbance at Kansas City. The same was true in New York. But as Kansas City is a so-called reserve city under the national banking act, a great many Kansas banks carried a part of their reserve with it. There may be some suffering in Kansas and contiguous territory on this account.

19. December 12, 1907 Semi-Weekly Herald Durango, CO
Article from Semi-Weekly Herald, December 12, 1907

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act, the "most conspicuous test" of which was the successful settlement of the threatened strike of the Order of Railway Conductors and the Brotherhood of Railroad Trainmen in March of this year. Lisbon, O., Dec. 9.-In sight of twen tyfive horrified onlookers, Harry Webber confronted his bride of four weeks on the threshold of the Disciple's church just as the choir was beginning the opening anthem yesterday morning and shot her down. A minute later the young man fell with a bullet in his own brain. As he fell he said, "She chose between her religion and me." Goldfield, Dec. 9.-An authoritive statement was made last night that sufficient men were already on the ground to work the mines. beginning Wednesday. The total number quiet ly brought in and who secretly made application to return to their former position is placed at over a thousand There are about fifteen hundred West ern Federation men out Men to take the places of strikers will not -be housed in the mines but will be scattered through the camp. Protection for each individual has been guaranteed by the Mine Owners' association Two propositions have positively been decided upon-the making of an opea camp for all time and early lowering of the wage scale. At the same time the owners' association is going to begin a vigorous crysade on the cost of living at Goldfield. Allentown Pa., Dec. With Calvin Frederick, the engine driver. dead in his cab. the fast west bound Lehigh valley train ran into the rear of another freight train at Parryville. Frederick complained of severe pains in his head and it is believed he died from a stroke of apoplexy Fredericks' body was badly crushed and his fire man and brakeman badly scalded. The engine driver who was 38 years old was to have been married during Christmas week. Butte, Mont. Dec. -Orders were received from the Amalgamated Cop per company directory closing all the mines of the subsidiary companies except those of the Boston and Montana and the big smelter at Anaconda and North Butte Coalition. The Butte mining district today is practically closed. The production will be lesa than 2,500 tons of ore daily. Kansas City, Dec. 9. -Arrangements are practically completed for the reopening tomorrow of the Stock Yards Bank of Commerce with deposits of a quarter of a million dollars, which failed last week, following the closing of the National Bank of Commerce. The institution will be bought outright from receivers of the National Bank of Commerce. This will be the second bank to resume since the flurry last week. The directors of the National Bank of Commerce are working hard on the plan of reorganization of that bank and hope to make a sufficiently good showing to gain permission of Receiver Bradley to reopen. New York, Dec. 9. New York had its first taste yesterday and last night of Sunday without any theatrical amusement. In accordance with JusGorman's decision of last week tice and thethe doors of all concert halls aters were close. but the back rooms five thousand saloons. billiard and together were wide open. alleys of pool parlors, with Every bowling one of the largest in its history and rever these Sunday did business intoxicated for before men any were there so many seen on the streets, For the first time in December in fifty years no ball was held on Sunday night in Tammany hall. Frankfort, Ky., Dec. 9.-Governor J. C. W. Beckham will retire from office and Augustus E. Willson, the Repubin lican governor-elect will be sworn as chief executive of Keatucky 10 morrow. Governor Beckham will not He return to his home in Bardstown. has rented the handsome residence of United States Senator Thomas H. Paynter, where he will live with his until the coming has adjourned. family legislature session From himself of now the that time he will devote to his exclusively until candidacy are for now the senate, which his managers engaged in pushing. they are urging argument busily in The the chief govbehalf is that he is the party and they say as ernor's nominee such Democrats. he is entitled to support of all Democratic leaders, clare that the primary was Many however, premature the denot express the will of It la probable that oppoand voters. did develop much in the sition to Beckham will

20. December 12, 1907 The Elbert County Tribune Elbert, CO
Article from The Elbert County Tribune, December 12, 1907

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Kansas City Bank Failure. Kansas City.-The National Bank of Commerce, the second financial institution in importance in Kansas City, announced its suspension instead 01 opening Thursday morning, after a steady run of six weeks, during which the bank had paid off $19,000,000 of its deposits, reduced its loans $3,500,000, cut down its cash resources $11,750, 000, and sold $2,000,000 of high grade bonds in an effort to meet the demands upon it. Later three small outlying banks in which the Commerce was interested, the Stock Yards Bank of Commerce, the Union Avenue Bank of Commerce and the State Bank of Argentine, also closed. The failure of these banks had been predicted for several days and but little excitement followed the announcement.

21. December 13, 1907 The Washburn Leader Washburn, ND
Article from The Washburn Leader, December 13, 1907

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Suspended Bank Resumes. Kansas City, Dec. 11.-The second small local bank affiliated with the National Bank of Commerce that closed when the parent institution failed last Wednesday has resumed business. It was the Stock Yards Bank of Commerce and it reopened with $80,000 in cash and sight exchange on hand, against $120,000 deposits. The bank was a state institution and had been taken in charge by State Bank Examiner Cook.