Abilene Bank (Abilene, KS)

Episode Information

Episode UID
9449373991078
Episode Type
Suspension โ†’ Closure
Bank Type
trust
Bank ID
944937399 hash
Start Date
October 28, 1889
Location
Abilene, Kansas (38.917, -97.214)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
e23cbdd2811c4c6e

Response Measures

None

Description

Bank suspended Oct 27โ€“28 and made an assignment Nov 1 to an attorney; appears to be permanent closure.

Events (2)

1. October 28, 1889 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Heavy depreciated real-estate-secured loans and bad rediscounts following post-boom depreciation forced suspension.
Newspaper Excerpt
The Abilene bank suspended this morning; liabilities $400,000.
Source
newspapers
2. November 1, 1889 Receivership
Newspaper Excerpt
Lebold & Fisher made an assignment late yesterday afternoon to Attorney Mead and locked the Abilene Bank's doors against all comers.
Source
newspapers

Newspaper Articles (15)

Article from New-York Tribune, October 29, 1889

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FAILURE OF THE ABILENE BANK. St. Louis, Oct. 28.-A dispatch to "The Post-Dis. "The Abilene patch," from Abilene, Kan., says: Bank, owned by Mayor C. H. Lebold and Colonel J. M. Fisher, suspended this morning, creating great excitement, as It had been considered the strongest financial institution in Central Kansas. Deposits amount to $200,000, principally local. Rediscounts and individual loans swell the liabilities to $400,000. The firm claim to own $600,000 in real estate and notes and say they will pay in full if given time to realize. Depreciation, which followed the boom of 1884, has steadily dragged them down. An attempt to straighten things out by forming a loan and trust company, with Senator Ingalls and other prominent men as directors, failed."


Article from The Cheyenne Daily Leader, October 29, 1889

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Bank Suspension. ABILENE, Kans., Oct. 28.-The Abilene bank suspended this morning; liabilities $400,000. It is claimed the assets are $600,000. The depreciation which followed the boom of 1874 has steadily dragged the bank down. Busi ness is practically paralyzed.


Article from Wheeling Register, October 29, 1889

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A Big Kansas Bank Fails. ST. LOUIS, October 28.-A special to the Post-Dispatch from Abilene, KADSAP, saye: The Abilene Bank, owned by Mayor C. H. Lebold and Col. J. M. Fisher, suspended this morning, creating great exeitement, 88 it has been considered the Brongest financial institution in Central Kansas.


Article from Rock Island Daily Argus, October 29, 1889

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ABBREVIATED TELEGRAMS. Ex-Secretary Bayard and Miss Mary ClyDier will be married Nov. 7. Henry M. Greenough, a Boston furniture and capet dealer, has assigned. Liabilities, $40,000. Jay Gould says he is delighted with the things he saw on his western trip, and predicts a general business boom. The Abilene bank, of Abilene, Kan., closed its doors Monday. The total liabilities reach nearly $400,000. The failure is believed to be a bad one. The body of Capt. Schoonmaker, U. S. N., who died at his post of duty on the Vandalia during the storm at Apia, Samoan island, some months ago, has arrived at San Francisco. The Minneapolis board of trade has appointed a committee to serve through the winter in the work of relieving the distress in Dakota. About 1,000 families in South Dakota are destitute. A surveying corps is laying out a line in Indiana to parallel the Pittsburg and Fort Wayne railway between Fort Wayne and Chicago. The new road will be called the New York, Fort Wayne and Chicago. In the course of an elopement in Texas the would-be benedict had to make two lightning changes of costume in order to avoid telegrams from his sweetheart's irate parent, but he "got there" at last, just in time. At Selma, Ala, Monday morning, Ben Taylor, a contractor, and four of his workmen were terribly injured by the collapse of a verandah on which they were standing, trying to push in the wall of a building that had been partially destroyed by fire. E. J. King, a prominent citizen of Jacksonville, Ills, died Monday morning, after a protracted illness, and was followed a few hours afterwards by his brother-in-law, Dr. Charles Easter, who had been attending him until a few days ago, when be, too, was stricken down.


Article from Los Angeles Daily Herald, October 29, 1889

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A Bank Dragged Down. ABILENE, Kas., October 27.-The Abilene Bank suspended this morning. Its liabilities are $400,000. It is claimed that its assets are $600,000. The depreciation which followed the boom of 1884 steadily dragged the bank down. Business is practically paralyzed.


Article from St. Paul Daily Globe, October 29, 1889

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CLAMORING FOR CASH. Depositors in a Kansas Bank Left in the Lurch. ABILENE, Kan., Oct. 28.-The Abilene bank. owned by Mayor C. P. Lebold and Col. J. M. Fisher, suspended this morning, creating great excitement, as it has been considered the strongest financial institution in Central Kansas. Deposits amount to $200,000, principally local. Rediscounts and individnal loans swell liabilities to $400,000. The firm claim it owns $600,000 worth of real estate and notes. and say they will pay in full if given time to realize. Depreciation which has followed the boom of 1884 has steadily dragged them down. An attempt to straighten things out by forming a loan and trust company with Senator Ingalls and other prominent men as directors failed. and the bank was compelled to 20. Mayor Lebold is now in the East, and the bank is besieged by depositors who demand settlement. A number of business houses are sufferers and business is practically paralyzed.


Article from Omaha Daily Bee, October 29, 1889

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BIG BANK FAILURE. A One of the Strongest Houses in Kansas Goes Under. ST. LOUIS, Oct. 28.-A special from Abilene, Kan., says the Abilene bank, owned by Mayor Lebold and Colonel J. M, Fisher, suspended this morning, creating great excitement, as it was supposed to be the strongest financial concern in central Kansas. The deposits amount to $200,000, principally local. Rediscounts and individual loans swell the liabilities to $400,000. The firm claims to own $600,000 worth of real estate and notes, and say they will pay in full if given time to realize. The depreciation which has followed the boom of 1884 has steadily dragged them down. An attempt to straighten things out by forming a loan and trust company with Senator Ingalls and other prominent men as directors failed and the bank was compelled to go to the wall. Mayor Lebold is now in. the east and the bank is besieged by depositors who demand a settlement. A number of business houses are sufferers and business is practically paralyzed.


Article from The Enterprise, October 30, 1889

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LATER. THE Abilene (Kan.) bank, owned by Mayor C. H. Leopold and Colonel J. M. Fisher, suspended on the 28th, created great excitement, as it has been considered the strongest financial institution in Central Kansas. The deposits amount to $200,000, principally local. Discounts and individual loans swell the liabilities to $400,000. The firm claim to own 8600,000 worth of real estate and notes. IN the United States Circuit Court at Philadelphia on the 28th ult. Judges Butler and McKennan set aside the verdict in favor of the city for $14,488, which was recently rendered against the Western Union Telegraph Company as a license fee for the use of the streets for poles and wires from 1885 to 1888 inclusive. O'NEIL & DYAS' extensive dry goods house at Akron, O., was destroyed by fire on the 28th ult., entailing a loss of $225,000. The fire was caused by a gas explosion. A LIVERPOOL dispatch of the 28th ult. reports that the British ship Bolan, from Calcutta for Liverpool, had foundered at sea. Thirty-three lives were lost. ABOUT twenty representatives of cracker manufacturers in Northern States met at Jackson, Mich,, on the 28th ult. and formed an organization with the object of maintaining a fixed schedule of prices, Among the cities represented were Chicago, Buffalo, Cleveland, Toledo and Detroit, ON the 28th ult. Rev. Dr. Talmage turned the first shovelful of earth for the foundation of the new Tabernacle at Brooklyn, N. Y. A large gathering of people were present. CHRISTOPHER GEIGER, for many years a leading iron maker, died at Lancaster, Pa., on the 28th ult., aged eighty-one years. At various times he was proprietor of furnaces in Pennsylvania and Maryland. SECRETARY TRACY has awarded the contract for building two of the new 2,000-ton cruisers to the Columbia Iron Works and Dry Dock Company, of Baltimore, at their bid of $1,225,000. They were the lowest bidders. IT was reported at Minneapolis, Minn., on the 28th ult that the Pillsbury flour mills have finally been sold to an English syndicate for the-sum of $5,250,000, and that the deal will go into effect November 1. THE Brotherhood of Locomotive Engineers, in session at Denver, Col., reelected P. M. Arthur as Grand Chief on the first ballot. JOSIAH W. KNIGHT, the oldest school teacher in Indiana, died at Evansville. on the 28th ult. He was born in New Hampshire in 1815 and has been a teacher at Evansville over forty years. THE barn of Roscoe Bros., confectioners, at Syracuse, N. Y., was burned on the 28th ult. Among the eight horses cremated was Walkill Roy, record 2:22%, valued at $5,000.


Article from The Enterprise, October 30, 1889

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Bank Fails for $400,000. ABILENE, Kan., Oct. 29.-The Abilene bank, owned by Mayor C. H. Leobold and Colonel J. M. Fisher, suspended yesterday, creating great excitement, as it has been considered the strongest financial institution in Central Kansas. The deposits amount to $200,000, principally local. Discounts and individual loans swell the liabilities to $400,000. The firm claim to own $600,000 worth of real estate and notes and say they will pay in full if given time to realize.


Article from Telegram-Herald, October 30, 1889

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FORCED TO OUIT. An Abilene (Kan) Bank Compelled to Suspend IT OWES SOMETHING LIKE $400,000. If Given Time It May Be Able to Pay in Full-Many Merchants and Worklog-Men Caught for Various Sums. TRADE TEMPORABILY PARALYZED. Sr. Louis, Mo., Oct. 29.-A special to the Post-Dispateh from Abilene. Kan., says the Abilene Bank, owned by Mayor C. H. Leobold and Colonel J. M. Fisher, suspended Monday morning, creating great excitement, as it has been considered the strongest financial institution in Central Kansas. The deposits amount to $200,000, principally local. The discounts and individual loans swell the liabilities to $400,000. The firm claims to OWB $600,000 worth of real estate and notes, and say they will pay in full if given time to realize. The depreciation which has followed the boom of 1884 has steadily dragged them down. Anattempt to straighten things out by forming a loan and trust company, with Senator Ingalls and other prominent men as directors, failed, and the bank was compelled to go. Mayer Leobold is now in the East, and the bank is besieged by depositors who demand settlement. A number of business houses are sufferers, and business is practically paralyzed. Many working-men have small deposits, and they are particularly restless. Almost every business house and every family in the city and county is affected, which makes matters worse. Expert accountants are at work on the books, and in a day or two a detailed statement will be prepared. It may show a much worse condition of things than is now expected, for the accounts are badly confused.


Article from Abilene Weekly Reflector, October 31, 1889

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CLOSED DOORS. THE ABILENE BANK SUSPENDS BUSINESS. A Financial Crash Unexpected and Enormous-Assets and Liabilities in the Hundreds of ThousandsProspects of Settlement. When the business men came down town this morning there was in store for them a shock such as the city of Abilene has never experienced before. It was nothing less than the startling announcement that the Abilene Bank of Lebold & Fisher had closed its doors and suspended business. Supposed, as it was, to be as solid as the everlasting hills the news was startling in the extreme and many found it hard to believe. The bank doors were the center of attraction as 9 o'clock approached and the crowd saw a notice posted saying that the bank would temporarily postpone business. THE BANK'S CONDITION. The REFLECTOR representative sought Mr. Fisher at his home on South Buckeye and from him obtained some of the facts in the case. It has been impossible today amid the multiplicity of busieess devolving upon him for anything like detailed statement to be prepared but the approximate figures and the causes of the failure were secured. The bank is well known, has for years been heavily indorsing paper for Dickinson county borrowers and has rediscounted a large amount of notes, etc. These secured by mortgages on real estate and chattel property have not been met by the makers and the bank has been compelled to carry them, foreclosing many instruments upon lands in this county and in the western part of the state. The burden at last became too heavy to bear and the bank was compelled to have more time. ASSETS AND LIABILITIES. The amount of business done by the bank has been enormous. The cash deposits now on its books foot up $207, 000 and belong to thousands of different parties. All but about $15,000 is the property of local depositors and varies from $15,000 to each. Besides this there are over $100,000 in rediscounted notes for which the bank is responsible, the total liabilities being nearly $400,000. To meet the indebtednes Messrs. Lebold and Fisher hold real estate and securities valued at $600,000 or more and which is abundantly sufficient if they can be disposed of to pay off every dollar of liability. THE FIRM'S HISTORY. The Abilene bank was started in 1870 and has for years been the property of Lebold, Fisher & Co. Mr. Herbst recently withdrew leaving Mr. Fisher and Mr. Lebold sole owners. They are both wealthy and as their personal liability is not limited there is every reason to believe that the firm's affairs may be straightened out as they promise they shall be. The gentlamen have never failed to keep their promises and it is generally believed that in a few days the doors will be reopened for business. The firm recently organized the Lebold-Fisher Loan & Trust Co. hopmg that it would assist in carrying afrairs over the ebb of the tide but the pressure came too soon and the Loan & Trust Co. has done nothing. It may be well to say that this company has as yet done no business and SO owes nothing. WHAT WILL BE DONE. Accountants are hard at work this afternoon taking a record of the bank's condition. All that is asked is that the creditors are lenient and the bank be given time to SO arrange matters that they can meet their indebtedness, Mayor Lebold is in Bolivar, Ohio, but is on his way home and is expected soon. Mr. Fisher has been at his post all day and is straining every nerve to get things in shape at the earliest possible minute. A number of important local enterprises are backed by the firm and it was feared that they might be seriously crippled. However, indications are thisafternoon that such arrangements will be made that nobody will experience more loss than is neccessarily connected with the inconvenience of a temporary closing of the doors. A GOOD TESTIMONIAL. The following paper was circulated among the business men of the city this afternoon without the knowledge of Messrs. Lebold & Fisher and was signed by the gentlemen whose names are given. It speaks for itself: We, the undersigned, depositors, bankers and business men of Abilene, hereby express our regret that a combination of adverse circumstances has caused the temporary suspension of the banking house of Lebold, Fisher & Company, and at the same time we desire to extend Messrs. Lebold and Fisher our sincere sympathy in their misfortune, and to express our confidence in their honesty and integrity, and in their ability to ultimately resume business and pay every dollar for which they are liable. Citizens Bank Tisdale


Article from Morning Journal and Courier, October 31, 1889

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General State News. AN ENGINE WRECKED. MIDDLETOWN, Oct. 30.-The 6:80 p. m. mixed train from Berlin on the Branch road crashed into the turn table near the round house last night. The engine was wrecked. The accident was due to a misplaced switch. THE ABILENE BANK. A prominent banker of Hartford received a telegram from the Abilene (Kansas) bank, in which they say: "Our creditors are not pushing; think everything will come right soon. Have not assigned." Signed, Lebold, Fisher & Co. This seems to indicate that the embarrassment is only temporary. A COMING WEDDING. Cards are out for the wedding of Dr. Pratt of Winsted and Miss Mary Gay, daughter of Hon. Henry Gay, the banker. They are to be married November 7 and sail for Europe on the Etruria soon after. They will stay abroad for a year and Dr. Pratt will devote much of the time to the further study of his profession. SOUND STEAMERS. The steamer City of Boston has gone to New York, where she is to be hauled out en the dry dook and will be newly coppered and receive other repairs. When everything is completed she will take the place of the steamer City of New York, and the latter boat will be hauled off to receive repairs for her winter season. DEATH OF DR. J. V. WILSON. The death of J. V. Wilson, M. D., at Waverly, Mass., at the age of 80 years, is announced this morning. He has been siok for some time, and his Norwich friends and acquaintances will not be surprised to hear of his death. He was a physician of the eclectie school, and has twice resided in this city and practiced medicine. He was of the Universalist faith and frequently preached in the pulpits of that denomination, and was respected for his ability and worth.-Norwich Bulletin. MANY AGED PEOPLE. Mrs. George W. Selleck of Norwalk, in accordance with her usual custom, gave her annual reception and dinner to a number of her aged lady friends at her home on Merwin street on Wednesday evening. The occasion was, as it invariably is, a successful social affair and highly enjoyed. The following were present: Mrs. Sarah Canfield, aged 90 years; Mrs. Catherine McDonald 88, Mrs. Betsy Hubbell 88, Mrs. Lucy Selleck 84, Mrs. Laura Morehouse 81, Mrs. Amy Dana 74, Mrs. Elizabeth Lounsbury 73, Mrs. Margaret Bunting 72, Mrs. Sarah Weber 71, Mrs. Sarah Rockwell 67. Besides these, .Mrs. Dr. Van Alstyne and other invited guests, without regard to age, were present. LOVE. The recent marriage of a young lady of 50, near Norwalk, to an elderly gentleman of 21 summers-and winters-is criticised unfavorably by some thoughtless persons who forget that love is blind, and therefore is not supposed to see just where to place his dart most appropriately in all cases. However, a correspondent of the Gazette makes it all right. He deprecates criticism and claims it was a really sensible occurrence. "The bride," he says, "was sensible in taking to husband a boy young and fresh and tender, and the boy showed excellent judgment in placing himself under the protection of a woman qualified by age and experience with the world, to bring him up to be a good man." This ought to settle it.-Stamford Advocate.


Article from The Portland Daily Press, November 2, 1889

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Foreign Notes. It is stated that the disagreement between Prince Murat and Miss Caldwell is only temporary, and that the terms of the marriage contract will probably be satisfactorily arranged. The French government has temporarily deprived 55 priests of their stipends owing to sermons preached by them on the subject of recent elections. Charles Bradlaugh has suffered a relapse. Members of the Parnellite party, who have travelled through Austria, have finished the tour. They collected ยฃ20,000 to advance the Irish cause, and will now go to New Zealand. Rev. Dr. O'Reilly, treasurer of the Irish National League in America, has handed to the National League authorities in Ireland ยฃ8000 collected in America. The Abilene Bank's Doors Closed. ABILENE, Kan., November 1.-Lebold & Fisher made an assignment late yesterday afternoon to Attorney Mead and locked the Abilene Bank's doors against all comers. Since Monday's suspension a large number of local depositors have been settled with, and it was hoped that all could be satisfied. New England creditors commenced legal proceedings and the assignment was necessary. The remaining liabilities amount to $285,000, with assets which, being in Western lands, will come far from satisfying claims when sold at forced sale.


Article from The Morning News, November 2, 1889

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ABILENE'S BROKEN BANK. The Land Won't Realize Enough to Satisfy the Claims. ABILENE, KAN., Nov. 1.-Lebold & Fisher made an assignment late yesterday afternoon to Attorney Meade and locked the Abilene Bank's doors against all comers. Since Monday's suspension a large number of local depositors have been settled with, and it was hoped that all could be satisfied. New England creditors commenced legal proceedings, and an assignment was necessary. The remaining liabilities amount to $285,000 with assets, all of which being in western lands, will come far from satisfying the claims when sold at forced sale.


Article from Wichita Eagle, November 8, 1889

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innuential the most are world's They -PONCO. SUNFLOWER SHADOWINGS. Seeds, Slips, Scions, Sprouts, Shoots and Slivers. Scarlet fever and diptheria arm-in-arm are making their yearly visit, A Latham farmer raised at the rate of 163 bushels of peanuts to the acre. Emporia Republican: Fort Scott is going into the manufacture of vitrified brick. Adam Bunner, of Doniphan, raised 100,000 pounds more grapes this year than last. Hill, the Colby bank defaulter, is still at large. Pinkerton detectives are on his trail. It is rumored that a syndicate of eastern capitalists are buying up coal lands in Kansas. The Osborne county flour mills are runing day and night to meet the demand of the trade. One thing may be said to the credit of the Newton soap factory, it does a clean business. Atchison and Fort Scott will now have two things to be jealous over-vitrified brick and Jay Gould. The Fort Scott Monitor is in favor of turning the Hutchinson reformatory into an insane asylum. A man doesn't feel half SO important when the cab he rides in has an election banner on the side. At Emporia they speak of a man who wears H shoe-string bout his hat as "from the paw-paw regions. Augusta has a hotel keeper who doesn't take a newspaper, and he is as unpopular as a girl with sore eyes. Perry, the blind musician who gives recitals and musical lectures, is doing the northern part of Kansas. Charles S. Gleed, of Topeka, was admitted to practice before the United States supreme court yesterday. The corner stone of the First Baptist church was laid at Phillipsburg, Tuesday with impressive ceremonies. From the way new papers are starting in Kansas the long felt want must still be empty, says the Abilene Reflector. A clever stroke of advertising on Mr. Gilmore's part is the mention six cannon in his musical programs for Kansas. Topeka Capital: "Five Kansas counties this year produced more than half as much corn as the whole state produced in 1887." Married, at Lawrence-Stewart Henry, of Denver, Col., and Miss Nellie Thacher, daughter of Judge S. O. Thacher, of Lawrence. The Railway Age says the general audiditor's office of the Santa Fe, now located in Boston, will be moved to Topeka December 1. Congressman Peters say it costs Senator Plumb $12,000 a year to live in Washington, and he is one of the "plainest livers" at the capital. The editor of the Mulvane Record is prancing around Pike's Peak at present. On Pike's Peak, this time of year, it is necessary to prance. A "portrait and biographical album of Sumner county" is being prepared, and anybody may become prominent with a reasonable amount of hard cash. Emporia Republican: Eli Perkins is lecturing in Kansas. The time Was when Eli would draw a big crowd in this state, but that was before Tomlinson developed. Keene plays at Emporia tonight. He will probably remark the absence of the whilsome peanuts, crackling in the audience. Emporia isn't the town it used to be at all. K. C. Star: Why doesn't some one give old Chief Mayes a couple of corner lots in Arkansas City? That would bring him around all right on the question of opening up the Cherokee strip. A burglar at Parsons tried to get away with a pan of milk, but somebody fired at him and made him drop it. The thief is now trying to console himself by deciding that it was chalked water. The Beattie Star says: Huskers have informed us that this fall it is not much more work and no harder to put eighty to 100 bushels in a wagon than it was to put sixty to seventy-five in last year. Several western journals printed editorials of welcome to the All-America delegates, in the Spanish tongue, and the New York Sun speaks of them as "misfit, missspelled, misprinted cigar-box Castilian." A Kansas editor objects to three meals per day and advocates one meal and "thus." he says, "do away with the eternal grind of eating." This unparallelled statement occurs in No. 8, vol. 1, of his paper. An action in equity was begun in the United States court at Topeka Tuesday against the Marion Belt & Chingawasa Springs railroad company for the appointment of a receiver. The road is eight miles long. Thorough investigation shows the liabilities of the broken Abilene bank to be $333,000. The assets consist mostly of depreciated real estate. A meeting of creditors to appoint an assignee has been called for November 27. Notarial commissions were issuedTuesday as follows: M. T. Clark, of Caldwell; M. (Bloch, of Wichita: Waldo Hancock, of Beverly: H. D. Holloway, of the Soldiers' home: John A. Moss, of St. Marys, and J. E. Baker, of Hutchison. Dr. Buck, who has charge of the silk station at Peabody, is in receipt of a letter from Belding Bros., of New York, stating that the Kansas silk which they had handied worked nicely, and that they were very much pleased with it. Thomas county, the next but one from the Colorado line, on the Rock Island's northwestern line, raised more corn than any of the entire thirty-one new counties in western Kansas. Thomas county was