First National Bank (Fort Scott, KS)

Episode Information

Episode UID
176301307
Episode Type
Run โ†’ Suspension โ†’ Closure
Bank Type
national
Bank ID
17630 national
Charter Number
1763
Start Date
November 19, 1908
Location
Fort Scott, Kansas (37.840, -94.708)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
a870837258721596

Response Measures

Public signal of financial health, Full suspension, Books examined

Receivership Details

Depositor recovery rate
77.6%
Date receivership started
1908-11-20
Date receivership terminated
1910-04-16
OCC cause of failure
Fraud
Share of assets assessed as good
54.6%
Share of assets assessed as doubtful
41.9%
Share of assets assessed as worthless
3.5%

Description

Some articles give Nov. 18 as closing date, others Nov. 20; receiver appointment reported Nov. 20.

Events (5)

1. January 10, 1871 Chartered
Source
historical_nic
2. November 19, 1908 Run
Cause
Rumor Or Misinformation
Cause Details
Run attributed to malicious reports spread by enemies of the bank; depositors withdrew about $56,000 over two days.
Newspaper Excerpt
There was a two days' run on it.
Source
newspapers
3. November 20, 1908 Receivership
Source
historical_nic
4. November 20, 1908 Receivership
Newspaper Excerpt
Comptroller of the Currency Murray today appointed James D. Bradley ... receiver of the First National Bank of Fort Scott, Kan.
Source
newspapers
5. November 20, 1908 Suspension
Cause
Rumor Or Misinformation
Cause Details
Bank closed by its president after the run which officers said was prompted by malicious reports; request made for a federal receiver.
Newspaper Excerpt
The First National bank of this city was closed today by order of President Grant Hornaday. Washington authorities have been requested to appoint a receiver.
Source
newspapers

Newspaper Articles (16)

Article from Albuquerque Citizen, November 20, 1908

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Article Text

FORT SCOTT BANKER ASKS FOR RECEIVER Rush Started by Malicious Reports Spread by Enemies Continued For Two Days. Fort Scott. Kan. Nov. 20.-First National bank of this city, one of the oldest in the state closed doors today. Depositors number about 2000 and the bank had deposits of $702,000. President Grant Hernaday said assets exceeded liabilities $127,000. Failure, he said. was caused by malicious reports spread by enemies.


Article from The Daily Telegram, November 20, 1908

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Article Text

RUN ON BANK Causes Comptroller of the Currency to Appoint a Receiver for Bank. WASHINGTON, D. C., Nov., 19Comptroller of the Currency Murray today a (ppointed Jumes D. Bradley, a bank examiner, receiver of the First National Bank of Fort Scott, Kan. There was a run on the bank the last two days. The back's capital is $100,000. and it had a surplus of $25,000.


Article from The Evening Statesman, November 20, 1908

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Article Text

NATIONAL BANK GONE REPUBLICAN FORT SCOTT, Kansas, Nov. 20.The First National Bank of this city was closed today by order of President Grant Hornday. Washington authorities have been requested to appoint a receiver. Liabilities are given at $662,000 and assets, $789,000. The causes of the failure were not announced. Hornday declared his private fortune would protect depositors.


Article from The Spokane Press, November 20, 1908

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Article Text

BANK SUSPENDS FORT SCOTT, Kas., Nov. 20.The First National bank of this city closed its doors today by order of President Grant Hornaday. The Washington authorities were requested to appoint a receiver. The liabilities are $662,000 and the assets $789,000. The cause of the failure was not announced. President Hornaday declared his private fortune would protect the depositors.


Article from East Oregonian : E.O, November 20, 1908

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Article Text

NATIONAL BANK FAILS AT FORT SCOTT, KANSAS. Fort Scott, Kan., Nov. 20.-The First National bank of this city was closed today by order of the president, Grant Hornaday. Washington authorities have been requested to appoint a receiver. The liabilities are $662,000 and assets $789,000. The causes of the failure are not announeed. Hornaday declared his private fortune will protect the depositors.


Article from The Barre Daily Times, November 20, 1908

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Article Text

FORT SCOTT BANK CLOSED ITS DOORS Entire Fortune of Its President May Be Wiped Out, and Others May Be Involved in the Collapse. Fort Scott, Kan., Nov. 20.-The First National Bank here closed its doors today on order of President Hornaday. Washington has been asked to send a receiver. The liabilities are about $500,000. It may wipe out President Hornaday's fortune, and may involve many others.


Article from Bryan Morning Eagle, November 21, 1908

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Article Text

Bank Closes Doors. Fort Scott, Kan., Nov. 20.-First National bank, one of the oldest in the state, has closed its doors. Deposits are $702,000, its capital stock is $100, 000 and surplus $25,000. There was a two days' run on it. Bank Examiner Bradley has, at the request of the bank's officers, been appointed receiver.


Article from The Citizen-Republican, November 26, 1908

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Article Text

KANSAS BANK CLOSES. Fort Scott, Kan., Nov. 23.-The First National bank of Fort Scott, one of the oldest banks in the state, closed its doors this morning. The bank had deposits of $72,000. The closing followed a run on the bank yesterday. President Hornaday stated the failure was the result of malicious reports spread by enemies of the bank, and said that the bank assets exceed the liabilities by $17,000. Depositors will be paid in full.


Article from Wood County Reporter, November 26, 1908

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Article Text

Kansas Bank Closes Doors. The First National Bank of Fort Scott, Kan., one of the oldest banks in the State, closed its doors Friday morning. The bank had deposits of $702,000. The closing followed a run on the bank, during which depositors withdrew $56,000.


Article from The Plymouth Tribune, November 26, 1908

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Article Text

Bank Breaks Following Run. The First National Bank of Fort Scott. Kan., one of the oldest banks in the State, closed its doors Friday morning. The bank had deposits of $702,000. The closing followed a run on the bank, during which depositors withdrew $56,000.


Article from Warren Sheaf, November 26, 1908

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Article Text

Close a Kansas Bank. Washington, Nov. 21.-Comptroller of the Currency Murray Friday appointed James D. Bradley, bank examiner, as receiver of the First National bank of Fort Scott, Kan. This action was taken upon receipt of a telegram from President Hornaday asking that a receiver be appointed, owing tb a run on the bank which had $ insula ital of $100,000, according to the last report, and a surplus of $25,000.


Article from The Bon Homme County Independent, November 26, 1908

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Article Text

KANSAS BANK CLOSE& Fort Scott, Kan., Nov. 23.-The First National bank of Fort Scott, one of the oldest banks in the state, closed its doors this morning. The bank had deposits of $72,000. The closing followed a run on the bank yesterday. President Hornaday stated the failure was the result of malicious reports spread by enemies of the bank, and said that the bank asnets exceed the liabilities by $17,000. Depositors will be paid in full.


Article from The Black Hills Union and Western Stock Review, November 27, 1908

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Article Text

National Bank Closed Doors. Ft. Scott, Kas., Nov. 20.-The First National bank closed its doors today on account of a run which was begun yesterday, when $56,000 was withdrawn. The institution was capitalized at $100,000; surplus, $25,000; deposits, $702,000. President Hornaday said the run was caused by malicious reports circulated by enemies. He declared the banks assets exceeded the liabilities $127,000.


Article from Wausau Pilot, December 1, 1908

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Article Text

Kansas Bank Closes Doors. The First National Bank of Fort Scott, Kan., one of the oldest banks in the State, closed its doors Friday morning. The bank had deposits of $702,000. The closing followed a run on the bank, during which depositors withdrew $56,000.


Article from Western Kansas World, December 12, 1908

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Article Text

A Kansan to be Receiver. John Watt of Newton received a telegram from the comptroller of the currency at Washington appointing him receiver of the First National bank of Fort Scott.


Article from The Topeka State Journal, December 19, 1908

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Article Text

A Chance for the Depositors. Fort Scott, Kan., Dec. 19.-John Watts, receiver of the failed First National bank here, has announced that the doors of the bank would be opened Monday, December 21, for the filing of the claims of depositors against the institution. The government allows three months for the filing of these claims. The bank was closed November 18. There was on deposit at that time $490,000. The bank has 2,000 depositors.