gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
d77fb92a710651b1
Response Measures
Accommodated withdrawals, Capital injected
Description
Run described as slight and countered by $300,000 cash deposit to the bank.
Events (2)
1.November 19, 1883Chartered
Source
historical_nic
2.July 3, 1905Run
Cause
Local Banks
Cause Details
Run triggered by the failure/closure of the First National Bank of Topeka (news of that bank's suspension).
Measures
Deposit of $300,000 in cash to offset withdrawals; bank paid out substantial sums but remained solvent.
Newspaper Excerpt
There was also a slight run on the Central National, in which Devlin owns large number of shares. Cash to the amount of $300,000 has been deposited in the Central National to offset the run.
ANOTHER BANK IN TURMOIL Owing to the Sickness of Its Chief Owner for Two Weeks. FIRST NATIONAL OF TOPEKA Has to Close Its Doors and Asks for a National / Receiver. PUBLIC MONEY IS INVOLVED Topeka, Kan., July 3.-The First National bank of Topeka, of which C. J. Devlin held the major portion of stock, failed to open its doors this mo. ning, being closed by the order of W. H. Rossington, vice president of the institution. Governmenut officials are making an examination of the bank's affairs, but will give out no statement. There has also been a slight run on the Cena tral bank, in which Devlin owns large number of shares. Cash to the amount of $300,000 has been deposited in the Central National to offset the run.
2.July 3, 1905The Fargo Forum and Daily RepublicanFargo, ND
Click image to open full size in new tab
Article Text
KANSAS BANK WENT BUMP FIRST NATIONAL CLOSED BY GOVERNMENT OFFICIALS The Big Institution Could Not Stand the Pressure and Its Books Are Being Investigated-The State Is a Big Loser. Topeka, July 3.-The First National Bank has been closed by order of the comptroller of the treasury and the government officials are making an examination. Three or four hundred depositors were in line this morning. There was a slight run on the Central National. Three hundred thousand in cash has been deposited in the Central National to offset the run. The state had $500,000 on deposit in the closed First National. The total deposits amounted to $1,390,000.
3.July 3, 1905The Roswell Daily RecordRoswell, NM
Click image to open full size in new tab
Article Text
Topeka, Kan., July 3.-The First National Bank of Topeka, of which C. J. Devlin held the major portion of the stock, failed to open its doors this morning, being closed by order of the Comptroller of the Currency. The government officials are making an examination of the bank's affairs but will give out no statement. There was also a slight run on the Central National Bank, of which Devlin owns a large number of shares. Cash to the amount of $300,000 was deposited in the Central National to offset the run. In the closed bank the state of Kan sas has over $500,000 on deposit, the city of Topeka has $39,000, and the county of Shawnee about $30,000. The bank was closed by order of W. H. Rossington, vice president.
4.July 3, 1905The Daily TelegramClarksburg, WV
Click image to open full size in new tab
Article Text
DEVLIN'S BANKS ARE IN TROUBLE By Associated Press. Topeka, Kans., July 2-The First National Bank, of which C. J. Devlin is principal stochoklder, suspended by order of the Comptroler of the Currency today. A slight run occurred on the Central National Bank, of which Devlin is a stock. holder. C. J. Devlin was considered one of the wealthiest men in Kansas City, has property being estimated at seven million dollars. Owing to ill health a company was formed last Saturday to manage his holdings.
5.July 4, 1905The Salt Lake HeraldSalt Lake City, UT
Click image to open full size in new tab
Article Text
NATIONAL BANK CLOSES DOORS Failure Is Caused by Loans to the Principal Stockholder. RECEIVER IS APPOINTED INSTITUTION LOCATED AT TOPEKA, KANSAS. OPEKA, Kan., July 3.-The First National Bank of Topeka, of which T C. J. Devlin held the major part of the stock, failed to open its doors this morning. The government officials are making an examination of the bank's affairs today, but will give out no statement. Three or four hundred depositors were in line at 9 o'clock. There has also been a slight run on the Central National bank, of which Mr. Devlin owns a large number of shares, On the door of the First National bank appears this notice: "This bank is closed by my order. The comptroller of the currency has been communicated with and will send examiner who will make statement. (Signed), "W. H. ROSSINGTON, Vice-President."
6.July 5, 1905Grant County HeraldLancaster, WI
Click image to open full size in new tab
Article Text
BANK CLOSES ITS DOORS I Dues Depositors $1,390,000 but Seems to Have Assets Enough to Pay Out All Right. Topeka, Kan., July 4.-The First National bank, of Topeka, of which C. J. Devlin is the principal stockholder, has closed its doors. Government officials are making an examination of the bank's affairs, but will not give out a. statement. Following the closing of the First National bank there was a slight run on the Central National bank, in which Devlin also is a large statement, the First National bank owed depositors $1,390,000. J. W. Gleed stated later that $700,000 worth of real estate-$300,000 unincumbered Topeka property and the other $400,000 in coal lands in southeastern Kansas-bad been turned in by Devlin, together with $700,000 in life insprance. Gleed asserted that the Central National was in a perfectly solvent condition.
TOPEKA BANK GOES UNDER. Failure of Charles J. Devlin Causes Panic and Run. TOPEKA, Kan., July 5.-Charles J. Devlin, one of the largest coal operators in the west and one of the wealthlest men in Kansas, lies stricken speechless at his home in this city, with his fortune of several million dollars in such a tangle that he may be left a financial wreck. The First National bank. owned by him, has failed to open its doors for business and is in the hands of a gov. ernment agent. The Central National, of which he is the principal owner, sustained a "run" of depositors unlike any. thing ever seen in Topeka before and has paid out nearly $200,000 during the day. There was also a run on the Bank of Topeka. in which It was reported that Mr. Devlin is interested. The crash in Kansas financial circles is the biggest affair of the kind that has occurred since Grant Gillette, a "cattle king." went to Mexico several years ago with nearly a million dol. lars in debts behind him.
8.July 6, 1905Abilene Weekly ReflectorAbilene, KS
Click image to open full size in new tab
Article Text
Special to the Reflector. TOPEKA, July 3.-The First Na. tional bank of Topeka failed to open this morning and is in the hands of the comptroller of the currency. Most of its stock is owned by C: J. Devlin, the big coal operator. A run is in progress on the Central National but it is believed that enough cash can be secured to carry it through. The First National has deposits of $1,391,000. Wm. Sims is president, W. H. Rossington, vice president, C. E. Hawley, cashier.
9.July 7, 1905Washington StandardOlympia, WA
Click image to open full size in new tab
Article Text
THE First National Bank at Topeka, Ks., has failed, and it has started a run on another National bank, the Central, and it may likewise close its doors.
DEVLIN'S BANKS ARE IN TROUBLE Bv Associated Press. Topeka, Kans., July 2-The First National Bank, of which C. J. Devlin is principal stochoklder, suspended by order of the Comptroler of the Currency today. A slight run occurred on the Central National Bank, of which Devlin is a stock. holder. C. J. Devlin was considered one of the wealthiest men in Kansas City, has property being estimated at seven million dollars. Owing to ill health a company was formed last Saturday to manage his holdings.
11.August 14, 1905The Topeka State JournalTopeka, KS
Click image to open full size in new tab
Article Text
der before November 1. There has been no squabble. Mr. Davis wanted to be president of the new bank, but some of us thought that the office should seek the man rather than the man the office. We preferred to take some man who could give the bank his entire time. We felt that Mr. Davis as mayor and as the head of that big business of his could not give the bank all of his time. This is just the thing that we wished to avoid. That was the trouble with the old bank. We wanted to avoid getting into any difficulties and therefore thought that we should have a man in charge who could be at the bank from the first thing in the morning until closing time. We had nothing against Mr. Davis; in fact, we were only too glad to have him associated with us. However, he did not care to take an interest unless he was given some position far up as president, and we broke. We have full confidence in Mr. Kno wles and consider him one of the best bankers in the state." No Fight, Says Davis. Mayor W. H. Davis in his office this morning said: "There has been no fight between the two factions. There was some difference of opinion but there was no ill feeling mixed up in it. I believe that the new bank will be a success. There is no doubt that it will stand, for it has a very good man at the head. Mr. Knowles is a shrewd, careful, conservative banker and will bring with him to the new bank the esteem and confidence of every one." Mr. Edwin Knowles was at his duties as usual this morning. "I have not resigned yet," he remarked, "I presume that I will take the position though. In leaving it is not because of any dissatisfaction with the management of the Central National for there has been always the kindest of feelings existing. It is simply a case of less work and more pay. I cannot but help think that with the location and the men that are behind of the institution the bank is going to start out and remain a success." Receiver Bradley expressed his satisfaction at the way things had turned out. "I am completely satisfied with the bargain we made for the sale of the bank fixtures and the lease. It is the highest lease as regards terms, that has been made. The fixtures are worth every cent of the money for them and could not be duplicated for less than $4,000. I am also well pleased with the set of men who are going to start the
Bank runs are almost always and everywhere a deterioration of bank fundamentals.
But not for you.
You are the measure-zero exception: great fundamentals, solid bank, and yet the Diamond Dybvig fairy spread its rumor. Depositors woke up. Your collateral was not prepositioned. The Clearinghouse had it for you.
Do not pass Go. Do not collect $200. Go directly to jail… or worse.
