9158. Whipple Loan & Trust Company (Kansas City, MO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
trust
Start Date
May 28, 1897
Location
Kansas City, Missouri (39.100, -94.579)

Metadata

Model
gpt-5-mini
Short Digest
65fa42b5a4e148e6

Response Measures

None

Description

Multiple contemporaneous newspaper reports (May 28, 1897) state the Whipple Loan & Trust Co. 'failed' and a receiver (Clarence Palmer) was appointed. No run or depositor agitation is mentioned; failure appears driven by pressure from eastern creditors related to guarantee bonds and a stockholder petitioned for a receiver. Articles are duplicate reports from different papers.

Events (2)
1. May 28, 1897 Receivership
Newspaper Excerpt
Clarence Palmer was appointed receiver by Judge Philips. The appointment of a receiver was asked by John W. Hammond, of Chicago, a stockholder in the company to the amount of $10,000.
Source
newspapers
2. May 28, 1897 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Pressure brought by eastern parties/creditors whose money had been put out on guarantee bonds, leading to failure and petition for receiver.
Newspaper Excerpt
The Whipple Loan & Trust Co. failed Thursday. Clarence Palmer was appointed receiver by Judge Philips.
Source
newspapers

Newspaper Articles (3)
1. June 2, 1897 The Leader Brookhaven, MS
Article from The Leader, June 2, 1897

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Article Text

Whipple Loan Company Fails. KANSAS CITY, Mo., May 28.-The Whipple Loan & Trust Co. failed Thursday. Clarence Palmer was appointed receiver by Judge Philips. The appointment of a receiver was asked by John W. Hammond, of Chicago, a stockholder in the company to the amount of $10,000. A. A. Whipple, president of the company, stated that the direct cause of the failure was pressure brought to bear by eastern parties, whose money the loan and trust company had put out on guarantee bonds.

2. June 3, 1897 Barton County Democrat Great Bend, KS
Article from Barton County Democrat, June 3, 1897

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Article Text

Whipple Loan Company Fails. KANSAS CITY, Mo., May 28.-The Whipple Loan & Trust Co. failed Thursday. Clarence Palmer was appointed receiver by Judge Philips. The appointment of a receiver was asked by John W. Hammond, of Chicago, a stockholder in the company to the amount of $10,000. A. A. Whipple, president of the company, stated that the direct cause of the failure was pressure brought to bear by eastern parties, whose money the loan and trust company had put out on guarantee bonds.

3. June 3, 1897 Abilene Weekly Reflector Abilene, KS
Article from Abilene Weekly Reflector, June 3, 1897

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Article Text

Whipple Loan Company Fails. KANSAS CITY, Mo., May 28.-The Whipple Loan & Trust Co. failed Thursday. Clarence Palmer was appointed receiver by Judge Philips. The appointment of a receiver was asked by John W. Hammond, of Chicago, a stockholder in the company to the amount of $10,000. A. A. Whipple, president of the company, stated that the direct cause of the failure was pressure brought to bear by eastern parties, whose money the loan and trust company had put out on guarantee bonds.