Article Text
A Kansas City Bank suspends. KANSAS CITY. July 14.-The National Bank of Kansas City suspended payment this afternoon and is now in the hands of the comptroller of the currency. The assets, President J. S. Chick says, are be-
Kansas City National Bank (Kansas City, MO)
Episode Information
- Episode UID
348901123- Episode Type
- Run → Suspension → Closure
- Bank Type
- national
- Bank ID
-
34890national - Charter Number
- 3489
- Start Date
- July 14, 1893
- 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
d334cb3e5e90478f
Response Measures
Public signal of financial health, Capital injected, Full suspension, Books examined
Receivership Details
- Depositor recovery rate
- 100.0%
- Date receivership started
- 1895-03-18
- Date receivership terminated
- 1908-07-01
- OCC cause of failure
- Losses
- Share of assets assessed as good
- 20.8%
- Share of assets assessed as doubtful
- 50.0%
- Share of assets assessed as worthless
- 29.2%
Description
Bank suffered a 1893 run/suspension and reopening, then a final 1895 run/suspension leading to receivership.
Events (9)
1.
April 13, 1886
Chartered
- Source
- historical_nic
2.
July 14, 1893
Run
- Cause
- Local Banks
- Cause Details
- Panic-related runs in Kansas City after failures/suspensions of other local banks during the 1893 financial panic.
- Measures
- Published statements; temporarily suspended payment
- Newspaper Excerpt
- The National Bank of Kansas City suspended payment this afternoon... (created panicky feeling and runs on other banks).
- Source
- newspapers
3.
July 14, 1893
Suspension
- Cause
- Local Banks
- Cause Details
- Suspension triggered by heavy withdrawals and panic in the city during the 1893 financial turmoil.
- Newspaper Excerpt
- The National bank of Kansas City has suspended payment and is now in the hands of the comptroller of the currency.
- Source
- newspapers
4.
October 10, 1893
Reopening
- Newspaper Excerpt
- The doors of the National Bank of Kansas City, which suspended on July 14, were thrown open for business at 9:30 o'clock.
- Source
- newspapers
5.
March 5, 1895
Run
- Cause
- Bank Specific Adverse Info
- Cause Details
- Sustained loss of confidence following unfavorable statement and lingering effects from the 1893 suspension prompted heavy withdrawals in March 1895.
- Measures
- None reported besides attempting to pay demands until funds exhausted
- Newspaper Excerpt
- Since March 5 the depositors have been drawing out... On Saturday over $60,000 was withdrawn
- Source
- newspapers
6.
March 18, 1895
Receivership
- Source
- historical_nic
7.
March 18, 1895
Receivership
- Newspaper Excerpt
- Comptroller of the currency appointed Bank Examiner Galbraith temporary receiver; later John Perry named receiver by comptroller/appointed April 12 reference noted.
- Source
- newspapers
8.
March 18, 1895
Suspension
- Cause
- Bank Specific Adverse Info
- Cause Details
- Continued withdrawals and deteriorated condition led officers to suspend and enter liquidation.
- Newspaper Excerpt
- The National bank of Kansas City closed its doors this morning and the comptroller of the currency appointed Bank Examiner Galbraith temporary receiver.
- Source
- newspapers
9.
April 12, 1895
Other
- Newspaper Excerpt
- The comptroller of the currency today appointed John Perry of Kansas City as receiver of the National bank of Kansas City, Mo.
- Source
- newspapers
Newspaper Articles (23)
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Article Text
BANKS IN KANSAS CITY Two Failed and Others Standing Heavy Runs. A MINING SYNDICATE FAILS A Libel Suit Against a City Cannot be Maintained. Kansas City Banking Troubles. By Associated Press to The News. KANSAS CITY, July 15.-The Northrup bank of Kansas City, of which J. S. Stick of the National bank of Kansas City, Mo., which failed yesterday, was also president, closed its doors this morning. Bank Examiner Galbreath took charge of the suspended Kansas City National bank this morning. There was quite a run on the National Bank of Commerce as soon as that concern opened for business this morning. In a state. ment made yesterday the condition of the bank was shown to be good, and the officials assert that they will be able to stand a long run, which, however, they think will not be necessary. But little excitement prevaile, and it is thought the bank will pull through all right, as it ranks with the strongest in the city The directors of the Bank of Commerce held a meeting " consider the financial situation yester. day. After very careful examining into the condition of the bank the members of the directory signed as agreement individually pledging their entire estate for the security 8 of depositors. There was not a member of the board who hesitated to sign the paper that made him liable for the entire amount of the a deposits held by the bank, 80 great t was their confidence in the bank's e stability. The directorate repre. sents a combined wealth of two o million dollars.
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Kansas City Bank Suspends KANSAS City. July 15.-The National bank of Kansas City has suspended payment and is now in the hands of the comptroller of the currency. The depositors will probably be paid dollar for dollar.
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Kansas Bank Closes. KANSAS CITY, Mo., July 15.-The North. rup Bank. Kansas City, Kan., of which J. S. Chick, of the National Bank of Kansas City, which failed yesterday. was also president. closed its doors this morning. Bank-Examiner C. W. Galbreath took charge of the suspended Kausas City Na. tional this morning.
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WILL PULL THROUGH. This Bank is All Right, According to Its Statement. KANSAS CITY, July 15.-The Northrup Bank, Kansas City, Kan., of which J. S. Chick, of the National Bank of Kansas City, which failed yesterday, is also president, closed,its doors this morning. Bank Examiner Galbreath took charge of the suspended Kangas City National Bank of Commerce as soon as that concern was opened for business this morning. In its statement made yesterday the condition of the bank was shown to be good, and the officials assert they will be able to stand. The statement showscash on hand, $1,141,655, with deposits of $2,977,237, showing more than 25 per cent. reserve than required by law ; capital, $2,000,000. But little excitement prevails. It is thought the bank will pull through all right, as it ranks with the strongest in the city.
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BORELY TRIED. Tansas City Banks Forced to Stand Heavy Run-All Demanda Promptly However-Business Troubles at Other Points. KANSAS CITY, Mo., July 16 -Saturday was trying day for the banks of Kansas City but they weathered the storm admirably The failure of the National bank of Kansas City five minutes before closing time Friday created a very panicky feeling and all the bankers opened their doors Sat urday morning expecting 'runs' of more or less consequence. The publication of the statements of all the banks in the morning papers was calcu lated to restore confidence. The banks were prepared as well as could be to withstand any attack and as soon as the doors of the Bank of Commerce the Missouri national. the Metropolitan, the Union national and the Midland were thrown open the people began to collect about them and many drew out their deposits. Only however, in the Bank of Commerce. the Missouri and the Metropolitan were there any well-defined runs, and these banks withstood them successfully A run by heavy depositors caused the suspension of the Northrup bank. the oldest financial institution in Kansas City, Kan The assets are placed at $475,000, with liabilities amounting to $315,000. The Armourdale bank at 415 Kansas avenue, Armourdale, suspended pay. exent at 3 o'clock in the afternoon and was placed in the hands of Bank Commissioner Breidenthal of Kansas. The liabilities are $35,000 and the assets about double that amount A number of the Karsas City banks kept openuntil 6 o'clock, but very few of the depositors availed themselves of the opportunity to withdraw their money. The banks are amply prepared to meet any further demands made upon them, but it is thought that the flurry is over and the excitement ended. CLEVELAND O. July 17.-A dispatch from Ishpeming, Mich., says that the Schleisinger syndicate, the largest ore operators in the world, are in difficulty owing to the depression in the trade. Adolf Schleisinger, one of the organizers of the syndicate, says the output was reduced 25 per cent. some time ago All the mines are in Michigan and the central of fice is in Milwaukee. The plants owned by the syndicate are: The Chapin Mining company, the Buffalo Mining company, York Mining company, Arogan Mining company, Claire Mining company and Sunday Lode Mining company. These individ ual companies, all owning mines. were consolidated four years ago by Schleisinger Brothers, and, it is said. on insufficient capital. It is also said the syndicate went too deeply into railroad building Schlesinger's properties have over $1,000,000 worth of paper held by Milwaukee banks, and it is considered probable they will help him out Schlesinger began operations four years ago and has cut a large figure in the iron trade. He was embarrassed ten years ago, but sold the Escanaba, Iron Mountain & Western railway to the Chicago & Northwestern railway and pulled out of difficulties. If matters cannot be fixed here it will probably lead to trouble at his numerous other mines, employing nearly 2,500 men all told. PEORIA. Ill., July 19.-William Oberhauser's private bank failed Saturday much to the surprise of the community The liabilities are $60,422 against scheduled assets of $69,637. The assignment is due to the loss of money in the American national bank at Kansas City, and it is the first to be made here during the present financial troubles. The bank was an old-established institution. Charles Tehrmann is assignee. CARMI, III. July 17 The old banking-house of Hay & Webb has made a general assignment to P. A. Pearce. Assets, $216,267; liabilities, $180,000 Hay & Webb have been in business here for thirty-five years and enjoyed the confidence of the entire community Large loans on long time. large sums invested in real estate and the stringency of the money market caused the failure. All creditors will be paid in full. CHICAGO, July 17.-The George W. Ludlow Shoe company made an assignment in connection with its failure at Elgin. This is one of the largest wholesale shoe concerns in the country. It removed its factory and offices from Chicago to Elgin January 1 last and since that time has conducted its business in the latter city, No financial statement has been made. NEW YORK, July 7.-Chancellor McGill at Jersey City has appointed John C. Paul, of Plainfield, N.J., receiver of the Garwood steel works. The company was originally a Boston concern The works are at Garwood, N. Y and $300.00 has been lost in following à new process in making steel car wheels CHICAGO, July The Bouton Foun dry company, located at Thirty-ninth street and Evans avenue, made an as signment in the county Saturday in favor of the Equitable Trust company. The assets are figured at 8175,000; liabilities at $200,000. CINCINNATI, July 17. The John Kauffman Brewing company went into the hands of a receiver Saturday Pressing claims and inability to obtain ready_cash caused the action. The assets are given at $600,000 and the liabilities only $150,000. WAYLAID THE SHERIFF. An Arkansas Officer Shot and Robbed of $12,000 Near Memphis. MEMPHIS,Tenn.,July 17.-Friday night heriffWerner.of_Crittenden county
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National Banks Reopen. LOUISVILLE, Auz. 28.-The Fourth National mank. one of thefive Louisville banks to suspend paymentduring the recent panic, has resumed business. The City Nationat" and the Merchants National will also resume in a few days. CRICAGO, Aug. 28,-At a meeting of the stockholders of the National Bank of Kansas City it was unanimously decided to resume the business of the bank.
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BUSINESS. TO BE OPENED TOD KANSAS CITY, Mo., Oct. National Bank of Kansas 0 failed during the panie, will doors for business tomorrow,
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Chick's Bank Reopened. KANSAS CITY, Mo., Oct. 10.-The'doors of the National Bank of Kansas City, which suspended on July 14, were thrown open for business at 9:30 o'clock. Two national banks suspended in Kansas City during the flurry and now both have resumed and are doing business on a more solid basis than UYV"
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Chick's Bank Reopened. KANSAS CITY, Mo., Oct. 10.-The'doors of the National Bank of Kansas City, which suspended on July 14, were thrown open for business at 9:30 o'clock. Two national banks suspended in Kansas City during the flurry and now both have resumed and are doing business on a more solid basis than ever.
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Kansas City National Again Open. KANSAS CITY, Mo., Oct. 01. - The doors of the National Bank of Kansas City, which suspended on July 14, were thrown open for business at 9:30 o'clock this morning. Two national banks suspended in Kansas City during the flurry and now both have resumed and are doing business on a more solid basis than ever.
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BIG BANK FAILURE. The National Bank of Kansas City Closes Its Doors-Depositors Will Be Secured. Kansas City, Mo., March 18.-The National bank of Kansas City closed its doors this morning and the comptroller of the currency appointed Bank Examiner Galbraith temporary receiver. The failure was unexpected and the news of the suspension created quite a sensation in financial circles. The bank is the oldest financial institution in the city, having been established before the war. Until the panic in 1893 it was ranked as one of the strongest banks in the west. In July, 1893, it succumbed to a run and temporarily closed its doors. Although the capital was reduced and the stockholders paid in 50 per cent. assessment in the re-organization, the institution has never recovered from the blow it received at that time, and its suspension now is directly attributed to that suspension. According to the statement of the bank March 5. deposits were $990,559. President Chick says that the suspension is merely a liquidation and that not a depositor will lose a cent. This is the largest bank failure that has occurred since the panic of 1893, when SO many national banks in all parts of the country suspended.
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Kansas City Bank Suspends. KANSAS City, March 19.-With assets estimated at $1,880,000 and liabilities of $1,050,000, the National Bank of Kansas City suspended yesterday, and will liquidate and go out of business.
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KATY MUST PAY Texas Fever Damages as Fixed by Jury. A Pension Decision-Bank Commissioner Contest-Cherokees Must Share With Adopted CitizensChase Investigation Matter-Failure of a Kansas City Bank. The National Bank of Kansas City. The National Bank of Kansas City, Mo., is closed and in the hands of Bank Examiner G. W. Galbreath as temporary receiver. President J. S. Chick says that the suspension is merely a liquidation and that not a depositor will lone a cent. Since March 5 the depositors have been drawing out, as they considered the statement very unfavorable. On Saturday over $60,000 was withdrawn, and the officers saw that if the run continued they would not be able to continue payment. There is no probability that any of the other banks will be affected in any way. While there was considerable excitement when the su-pension was first made public, yet there is the best of feeling among the depositors for the officers of the failed institution. Bank Commissioner Breidenthal, of Kansas, says that the failure of the National Bank of Kansas City will not seriously affect Kansas banks. Mr. Breidenthal says that about fifty Kansas banks are correspondents of the National Bank of Kansas City, but that since the bank's trouble in 1893 they have. as a rule, kept but small balances th re. He says the failure of the bank to fully restore the confidence of its country correspondents has no doubt been one of the principal causes of its present trouble.
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ONE MILLION SHORT. BIG KANSAS CITY BANK IN TROUBLE. Dark Crime of Rustlers in NebraskaSpanish Gunboat Identified-Stirring Plea of a Kansas Woman - Frick Raises Wages. The National Bank of Kansas City, capital $1,000,000, did not open for business Monday morning. J. S. Chick, a well-known financier, is the president of the institution. The bank yielded to pressure in the panic of 1893, but straightened its affairs and resumed. Since then business has been poor. The assets are said to be $1,800,000, with liabilities of $1,050,000. The officers of the bank are J. S. Chick, President, and J. Q. Watkins, Jr., Cashier. It is not believed that any other bank will be affected by the failure. The bank did a heavy collecting business throughout Missouri, Kansas, Arkansas, and Indian Territory. The failure was unexpected and the news of the suspension created quite a sensation in financial circles. The bank is the oldest financial institution in the city, having been established by Messrs. J. H. and W. H. Chick before the war. Until the panic of 1893 it was ranked as one of the strongest banks in the West. In July, 1893, it succumbed to a run and temporarily closed its doors. Although the capital was reduced and the stockholders paid in a 50 per cent. assessment in the reorganization, the institution has never recovered from the blow it received at that time, and its suspension now is directly attivibuted to that suspension. According to the statement of the bank March 5, deposits were $990,559.39.
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The National Bank of Kansas City. The National Bank of Kansas City, Mo., is closed and in. the hands of Bank Examiner G. W. Galbreath as temporary receiver. President J. S. Chick says that the suspension is merely a liquidation and that not a depositor will lose a cent. Since March 5 the depositors have been drawing out, as they considered the statement very unfavorable. On Saturday over $60,000 was withdrawn, and the officers saw that if the run continued they would not be able to continue payment. There is no probability that any of the other banks will be affected in any way. While there was considerable excitement when the suspension was first made public, yet there is the best of feeling among the depositors for the officers of the failed institution. Bank Commissioner Breidenthal, of Kansas, says that the failure of the National Bank of Kansas City will not seriously affect Kansas banks. Mr. Breidenthal says that about fifty Kansas banks are correspondents of the National Bank of Kansas City, but that since the bank's trouble in 1893 they have. as a rule, kept but small balances th re. He says the failure of the bank to fully restore the confidence of its country correspondents has no doubt been one of the principal causes of its present trouble.
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One Million Short. The National Bank of Kansas City capital $1,000,000, did not open for business Monday morning. J. S. Chick, a well-known financier, is the president of the institution. The bank yielded to pressure in the panic of 1893. but straightened its affairs and resumed. Since then business has been poor. The assets are said to be $1,800,000, with liabilities of $1,050,000. The officers of the bank are J. S. Chick, President, and J. Q. Watkins, Jr., Cashier. It is not believed that any other bank will be affected by the failure. The bank did a heavy collecting business throughout Missouri, Kansas, Arkansas, and Indian Territory. The failure was unexpected and the news of the suspension created quite a sensation in financial circles. The bank is the oldest financial institution in the city, having been established by Messrs. J. H. and W. H. Chick before the war. Until the panic of 1893 it was ranked as one of the strongest banks in the West. In July, 1893, it succumbed to a run and temporarily closed its doors. Although the capital was reduced and the stockholders paid in a 50 per cent. assessment in the reorganization, the institution has never recovered from the blow it received at that time, and its suspension now is directly attributed to that suspension. According to the statement of the bank March 5, deposits were $990,559.30.
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BANK FAILURE: With assets estimated at $1,880,000, and liabilities of $1,050,000, the National Bank of Kansas City suspended Monday morning, and will liquidate and go out of business.
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Big Bank Suspends. Kansas City, Mo., special: With assets estimated at $1,880,000 and liabilities of $1,500,000 the National Bank of Kansas City has suspended and will liquidate and go out of business.
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John Perry Receiver. WASHINGTON, April 12.-The comptroller of the currency today appointed John Perry of Kansas City as receiver of the National bank of Kansas City, Mo.
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Receiver of a Bank WASHINGTON, April 12.-The controller of the cureracy today appointed John Perry of Kansas City receiver of the National bank of Kansas City. Mo., which suspended payment on March 16. 1895, and John F. Smith of Fort Worth, Tex., receiver for the City National bank of Fort Worth, which suspended April 4, 1895.
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Depositors Will Realize $2,250. Judge Scarritt yesterday authorized John Perry, receiver for the National Bank of Kansas City, to sell lots 3 and 4, block C., J. S. Chick place, to J. W. Thew, for $2,250. This is property conveyed to O. H. Dean as trustee by Mr. Chick to cover his indebtedness to the bank
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Judgment for $12,019 was entered yesterday against Charles E. Hasbrook in favor of John Perry as receiver of the National Bank, of Kansas City Mo.