Merchants National Bank (Kansas City, MO)

Episode Information

Episode UID
244001013
Episode Type
Run Only
Bank Type
national
Bank ID
24400 national
Charter Number
2440
Start Date
May 15, 1884
Location
Kansas City, Missouri (39.100, -94.579)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
239de6f5045b273d

Response Measures

Accommodated withdrawals

Events (3)

1. December 2, 1879 Chartered
Source
historical_nic
2. May 15, 1884 Run
Cause
Correspondent
Cause Details
Runs followed failures of New York correspondents and broader New York failures that triggered withdrawals in Kansas City.
Measures
Issued certified checks to creditors (paid out certified checks)
Newspaper Excerpt
there is a run on all banks there to-day ... the Merchants' National bank also issued certified checks to creditors.
Source
newspapers
3. December 22, 1891 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (2)

Article from The Daily Cairo Bulletin, May 16, 1884

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Article Text

Excitement in Bleecker Street. NEW YORK, May 15.-There is a run on the Bleecker Street Savings Bank today. At noon the lines of depositors intending to withdraw deposits extended many feet on either side of the bank. From appearances a heavy draw is expected. A Run on the Banks of Kansas City, Mo. NEW YORK, May 15.-Dispatches received from Kansas City state that there is a run on all banks there to-day, but they are standing together and paying depositors twenty per cent of deposits.


Article from Morris Tribune, May 21, 1884

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Article Text

Money Matters at Other Points. ST. LOUIS, May 16.-The Bank of Kansas City closed its doors Thursday. It had a capital of $600,000, and was the last to fall in the great panic of 1873. President Chick states that is due to the failure of Donnell, Lawson & Simpson, their New York correspondent. The bank had a surpius of $106,688, and after a meeting of the directors it was announced that the bank would pay 20 per cent. cash and the ba anein certified checks. The amount of deposits is figured at $2,000,000. There was a run on the bank early in the morning which resulted in a panic among the depositors. The Merchants' National bank also issued certified checks to creditors. The Bank of Commerce was forced to post a notice thae it would pay 20 per cent. cash, only. There were very painful scenes in the crowd of laborers and small depositors that surrounded the Bank of Kansas City, and many women were observed in tears. There is no evidence of any trouble in the other banks of the city, and nearly all of the present institut tions passed through the panic of 1873 with flying colors. QUINCY, III., May 16.-The Union bank, of this city failed to open its doors Thursday morning. When the Marine bank of New York failed, the Union bank transferred its account to the Metropolitan and the closing of the doors of that bank Wednesday are given as the cause of the suspension. NEW LONDON, Conn., May 16.-The losses here by the New York failures will probably amount to between $100,000 and $200,000. NORWICH, Conn., May 16.-The losses by the New York failures on margins here will be all of $250,000. CHICAGO, May 16.-The feeling on 'change here is that, while our markets are becoming more and more affected by what occurs on Wall street, there is not much danger of any similar trouble here. For years the banks have not been in such a good condition as at present. If a panic had been anticipated better preparations could hardly have been made for it. It was remarked by a gentleman well posted on financial affairs that it seemed as though the banks had kept their money all at home to meet just such an emergency. LONDON, May 16.-The fresh failures in New York have had very little effect on the stock market. American securities are in some instances higher than the best figures Thursday, and some American securities are at or within a fraction of Thursday's closing prices. BRADFORD, Pa., May 16.-The failure of the Tuna Valley bank has been followed by the collapse of the Exchange bank. Great excitement exists, and the streets are filled with people. The situation is panicky. The failures of Jefferson & Varney and G.H. Brooks, oil brokers, are also announced, and others are anticipated. PITTSBURG, May 16.-2 p. m.-For fear the banks may throw immense blocks of oil on the market and precipitate a crash, oil brokers will buy nothing, thus forcing the banks to carry on their own affairs.