gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2f9557e1c01cc736
Response Measures
Accommodated withdrawals, Public signal of financial health, Capital injected, Full suspension, Books examined
Other: Sold high-grade bonds and reduced loans to meet withdrawal demands (asset sales/liquidity management) and later reorganization/recapitalization to reopen.
Events (6)
1.July 25, 1887Chartered
Source
historical_nic
2.December 5, 1907Run
Cause
Local Banks
Cause Details
Withdrawals by smaller/local banks and correspondent banks pulling funds due to the bank; large interbank demands depleted reserves.
Measures
Paid out large sums over six weeks, reduced loans, sold high-grade bonds to meet withdrawals.
Newspaper Excerpt
Closed its Doors. The National Bank of Commerce of Kansas City ... closed its doors yesterday, caused by a run on it since the flurry began.
Source
newspapers
3.December 6, 1907Suspension
Cause
Local Banks
Cause Details
Steady withdrawals over six weeks (including other banks redeeming balances) forced suspension.
Newspaper Excerpt
K. C. BANK SUSPENDS ... announced its suspension instead of opening yesterday morning after a steady run of six weeks
Source
newspapers
4.December 17, 1907Receivership
Newspaper Excerpt
Bank Receiver Appointed. ... George T. Cutts ... has been appointed permanent receiver of the failed National Bank of Commerce of Kansas City.
Source
newspapers
5.March 30, 1908Reopening
Newspaper Excerpt
The suspended National Bank of Commerce of Kansas City, will reopen its doors for business Monday, March 30th, stronger than ever before.
Source
newspapers
6.September 24, 1912Voluntary Liquidation
Source
historical_nic
Newspaper Articles (24)
1.December 6, 1907The Marshall RepublicanMarshall, MO
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Article Text
Closed its Doors. The National Bank of Com. merce of Kansas City one of the largest banks in the West closed its doors yesterday, caused by a run OD it since the flurry began. It is in good condition, having assets of $24,000,000 and liabilities of only about $16,000,000 and depositors will lose nothing. As the bank was a national depositary and the rural mail carrier had just been paid with drafts on that bank, they are now "holding the bag" till the government makes these drafts good.
Closed to Post Books. Cashier Middlekauff says the bank closed temporarily yesterday in order that it might post its books. The limited force prevented doing this yesterday during business hours. Quiet at Kansas City. Kansas City, Mo., Dec. 6.-There was no evidence of a run on any of the lo. cal banks in the early hours today. Bank officers generally gave the opin. ion that the crisis resulting from the failure yesterday of the National Bank of Commerce was over and that normal conditions will soon be restored.
K. C. BANK SUSPENDS Kansas City, Mo., Dec. 6.-The National Bank of Commerce, the seccond institution in importance in Kansas City, announced its suspension instead of opening yesterday morning after a steady run of six weeks during which the bank has paid out nineteen million dollars of its deposits. The comptroller of the currency has appointed James T. Bradley, national bank examiner as temporary receiver, and he at once took charge. He has issued no statement as to the bank's condition nor have the offcers of the bank. The directors of the bank made the statement to the public saying that the bank could not stand "the slanderous statements made against it's and saying they do not believe it possible for a depositor to lose a dollar.
4.December 6, 1907The Norfolk Weekly News-JournalNorfolk, NE
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Article Text
Washington, Dec. 5.-A statement issued from the office of the comptroller of the currency today says that the National Bank of Commerce had deposits of thirty-five millions in September. Of this amount twenty-two millions were due to other banks. Withdrawals by these smaller banks are believed to be the cause of the failure of the Kansas City bank, which was the largest financial institution in the west.
Normal Conditions in Kansas City. Kansas City, Mo., Dec. 6.-There was no evidence of a run on any of the local banks in the early hours today. The bank officers generally gave cut the opinion that the crisis resulting from the failure yesterday of the National Bank of Commerce was over and that normal conditions will soon be restored.
NO MORE RUNS On Kansas City Banks Evident and Onlsis is Over. |By Associated Press.] KANSAS CITY. Mo., Dec. 6-There WILS no evidence this morning of a run on any of the local banks. It is believed the orisis resulting from the Inilure of the National Bank of Commerde is over.
7.December 7, 1907Los Angeles HeraldLos Angeles, CA
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Article Text
NO FLURRY IN KANSAS CITY AS RESULT OF FAILURES By Associated Press. KANSAS CITY, Mo., Dec. 6.-There was no evidence of a run on any of the local banks in the early hours today. Bank officers generally gave it as their opinion that the crisis resulting from the failure yesterday of the National Bank of Commerce is over and normal conditions will soon result. Many depositors of the Commerce bank were assured by the declarations of officials of that institution that it would not only pay depositors in full, but that stockholders also would lose nothing.
BANK WILL REOPEN. KANSAS CITY, Dec. 9.-Arrangements have practically been completed today for the reopening tomorrow of the Stock Yards Bank of Commerce, which failed last week following the closing of the National Bank of Commerce. The institution will be bought outright from the receiver of the latter.
KANSAS CITY BANK CLOSES. Second Financial Institution in That City Is in Distress. Kansas City, Mo.-The National Bank of Commerce, the second financial institution in importance in Kansas City, announced its suspension Thursday morning, after a steady run of six weeks, during which the bank had paid off $10,000,000 of its deposits, reduced its loans $3,500,000, cut down its cash resources $11,750,000 and sold $2,000,000 of high-grade bonds in an effort to meet demands upon it. The comptroller of the currency appointed James T. Bradley, national bank examiner, as temporary receiver of the bank, and he at once took charge. He has issued no statement as to the bank's condition, nor have the officers of the bank. The directors of the bank made a statement to the public saying that the bank could not stand "slanderous statements made against it," and saying they do not believe it possible for a depositor to lose a dollar.
10.December 12, 1907Baxter Springs NewsBaxter Springs, KS
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Article Text
Bank of Miami Closes. Last Saturday morning the Bank of Miami did not open its doors for business. The bank is temporarily embarrassed because of the failure of the National Bank of Commerce of Kansas City. in which the Bank of Miami had the greater part of its funds. The Bank of Miami was considered one of the solid financial institutions of this country, and it is not only hoped, but believed that its suspension of business is only temporary.
11.December 14, 1907The Lexington IntelligencerLexington, MO
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Article Text
ment. When so big an institution as the Bank of Commerce fails and no one is badly hurt, the country banks must be in a condition to withstand a great deal. All of the other large banks of Kansas City are flourishing, which shows clearly that the cause of the run was not distrust of banks in general, out of the National Bank of Commerce. Most of the accounts which were withdrawn were promptly deposited in other banks. It is undoubtedly foolish for any one to take his money out of a bank and hoard it. Happily a sermon along this line is not much nceded in Lexington. Our banks are in excellent condition and their customers know it.
12.December 16, 1907The Cairo BulletinCairo, IL
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Article Text
BANK TO REOPEN. Kansas City, Dec. 15-The Union Avenue Bank of Commerce which was obliged to close by the suspension of the National Bank cf Commerce, will reopen for business tomorrow morning. All the small brake carried down by the National Bank's failure have now been rehabilitated.
13.December 18, 1907The Birmingham Age-HeraldBirmingham, AL
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Article Text
Bank Receiver Appointed. Washington, December 17.-George T. Cutts, national bank examiner of New York, has been appointed permanent receiver of the failed National Bank of Commerce of Kansas City.
14.December 19, 1907The News-DemocratProvidence, RI
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Article Text
Kansas City, Mo., Dec. 19.-A committee appointed at St. Louis last Monday to examine into the affairs of the National Bank of Commerce. which failed Dec. 5, with deposits close to $17,000,000, began work here today. They will be assisted by George F. Cutts, the receiver. The committee includes David R. Francis and J. W. Perry of St. Louis, C. H. Powell of Sedalia and R. A. Long and J. R. Swafford of Kansas City.
15.December 19, 1907River Falls JournalRiver Falls, WI
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Article Text
Another Small Bank Reopens. Kansas City, Mo., Dec. 16.-The Union Avenue Bank of Commerce, which was obliged to close by the suspension of the National Bank of Commerce, will reopen for business Monday. All the small banks carried down by the national bank's failure have now been rehabilitated.
16.December 27, 1907Los Angeles HeraldLos Angeles, CA
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Article Text
KANSAS CITY-The Union Avenue Bank of Commerce, which was obliged to close by the suspension of the National Bank of Commerce, will reopen for business. All the small banks carried down by the National bank's failure have now been rehabilitated. -
17.January 21, 1908The Evening Star and Newark AdvertiserNewark, NJ
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Article Text
MAY REORGANIZE BANK. KANSAS CITY, Mo., Jan, 21.-The receiver of the National Bank of Commerce believes that when he and the stockholders' committee meet again, probably on Thursday, it may be decided to reopen the bank.
18.February 8, 1908The Meeker HeraldMeeker, CO
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A Kansas City dispatch reports that the suspended National Bank of Commerce of that city will re-open for business March 20th. -
19.February 12, 1908The Detroit TimesDetroit, MI
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Article Text
# Ridgely Denies Report.
WASHINGTON, Feb. 12.-The report that W. B. Ridgely, comptroller of the currency, had been offered the presidency of the Kansas City National Bank of Commerce, at a salary of $25,000 a year, is denied by Mr. Ridgely. The Kansas City National Bank of Commerce, until a few months ago the largest bank west of St. Louis, failed during the recent stringency and is now in the hands of receivers.
20.February 28, 1908Twice-A-Week Plain DealerCresco, IA
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Article Text
shortly succeed W. B. Ridgely as comptroller of the currency, Mr. Ridgely having decided to accept the presidency of the reorganized National Bank of Commerce at Kansas City, an institution which suspended payment during the late financial strin-gency. Mr. Murray was ap-nointed to his
21.February 28, 1908The Owosso TimesOwosso, MI
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Article Text
shortly succeed W. B. Ridgely as comptroller of the currency, Mr. Ridgely having decided to accept the presidency of the reorganized National Bank of Commerce at Kansas City, an institution which suspended payment during the late financial stringency. Mr. Murray was appointed to his
22.March 7, 1908The Meeker HeraldMeeker, CO
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Article Text
The suspended National Bank of Commerce of Kansas City, will reopen its doors for business Monday, March 80th, stronger than ever before. W. E. Ridgely, comptroller of the currency, is to be president of the bank.
BOOSTING THE PRICE PACKERS ADD ONE TO FIVE CENTS PER POUND ON ALL THEIR PRODUCTS EXCEPT VEAL. Farmers Will Not Share in Raise, As They Sold Their Stock During the Panic and Have no Cattle to Offer -National Bank of Commerce at Kansas City Ready to Reopen With Comptroller Ridgeley at Head
24.April 9, 1908Shiner GazetteShiner, TX
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Article Text
DOMESTIC. Kansas City, Mo.-The National Bank of Commerce, which suspended payment last fall, opened for business again this week with $2,870,000 cash on hand.
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.
