386501157 38650
national
d7bc8c94174eac95Full suspension, Books examined
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A National Bank Suspends. Mr. Coffin, acting controller of the currency, received a telegram today saying that the Sumner National Bank of Wellington, Kan., which has been in a shaky condition for some time, suspended payment this morning. The acting controller has instructed Examiner Sawyer to take charge of the bank.
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HEAVY BANK FAILURE Sumner National Bank of Wellington Closes With $63,000 Liabilities. Wellington, May 14.-The Sumner National bank, established in 1886 and having a capital stock of $75,000, closed its doors this morning. The comptroller has been notified. A quiet run has been going on for several days and the bank has been unable to stand the pres. sure. The liabilities to depositors and reserve agents are $63,000. The assets even at conservative valuation are considerably in excess of this amount.
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Bank Closed in Kansas. Wellington, Kas., May 14.-The Sum ner National bank, established in 1886, and having a capital stock of $75,000, closed this morning. There had been a run for several days and the bank WAS unable to stand the pressure. The liabilities to depositors are $63,000.
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National Bank Closes. WELLINGTON, Kan., May 14.-The Sumner national bank, here, was today compelled to close its doors, on account of a run. It is understood the bank is sound, but was not in condition to stand the run being made on it.
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A Bank Failure. WELLINGTON, Kan., May 14-The Sumner National bank, established in 1885 and having a capital stock of $75,000 closed this morning. There has been quite a run for several days and the bank has been unable to stand the pressure. The liabilities to deposflors are $40,000.
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BANK CLOSED. WELLINGTON, Kan., May 14.-The Sumner National bank, established in 1886, and having a capital stock of $75,000, closed this morning. There has been a quiet run for several days and the bank was unable ito stand the pressure. Liabilities to depositors are $63,000.
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A RUN ON A BANK. The Doors of the Sumner National at Wellington Closed. Wellington, Kan., May 14.-The doors of the Sumner National Bank were closed this morning because of a quiet run, which had been on progress for several days. The obligations to depositors and reserve agents are $63,000. The assets are conservatively estimated to be largely in excess of that amount. The bank had a capital stock of $75,000.
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Business Embarrassments. CINCINNATI, May 4.-The Odd Fellows Temple Company, incorporated for the purpose of building and maintaining the great Odd Fellows Temple, at Seventh and Elm streets, made an assignment to-day to Marcus Worth. The assets are estimated at $500,000 and liabilities at $260,000. The building was finished a year or two ago, and is one of the most complete of its kind in the United States. WELLINGTON, Kan., May 14.-The Sumner National Bank closed its doors this morning. A quiet run had been going on for several days and the bank has been unable to stand the pressure. The liabilities to depositors and reserve agents are $63,000. The assets are considerably in excess of this amount. BOSTON, May 14. - The assignment of Mitchell, Dexter Co., large general produce merchants, was announced late this afternoon. The firm has extensive connections in the West. W. F. Robinson, president of the Chamber of Commerce, and Salmon P. Hibbard, are the assignees. No figures are available. ST. LOUIS, May 14.-George M. Flanagan, proprietor of a corn meal mill, assigned today because of hard times. Charles C. Carroll, the assignee, said the liabilities are about $60,000, with assets of $100,000.
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Kansas Bank Suspends. WELLINGTON, Kan., May 15. - The Sumner National bank has closed its doors. A quiet run has been going on for several. days, and the bank has been unable to stand the pressure. The liabilities to depositors and reserve agents are $63,000. The assets are said to be considerably in excess of this amount.
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Bank Closed on Account of a. Run. WELLINGTON, KAN., May 14.-The doors of the Summer National Bank were closed this morning because of a quiet run, which had been in progress for several days. The obligations to depositors and reserve agents are $63,000. The assets are conservatively estimated to be largely in excess of that amount. The bank had a capital stock of $75,000.
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The Secretary of the Treasury has instructed Agent Crowley to permit the North American Commercial Company to take 30,000 male seal skins this season if enough are left to fertilize the females at the rookeries. Burgalars got away with $22,000 of jewelry from the store of Eugene C. Bickers, New York City. Johnson H. Ledel, who has been cared for by Bickers, has been arrested on suspicion of being implicated in the robbery. Will Smith, the noted railroad detective, died in the railroad hospital at Sacramento. He went to the hospital about two weeks ago to be treated for cancer of the nose, but he died of apoplexy. It was mainly through his efforts that the Sontag Evans gang of rrain robbers was broken up. The Summer National Bank at Wellington, Kansas, with a capital stock of $75,000 has closed its doors. There was a run on the bank for several days. The liabilities to depositors amounted to $33,000.
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Closed Its Doors, The whole community was shocked last Thursday to learn that the Sumner National bank had closed its doors, on which could be seen the significant piecè of paper which read, "Bank closed-Comptroller notified." This bank was always thought to be one of the stablest institutions in the country, and the public was therefore greatly surprised. At 10 o'clock that morning the officials were forced to close, on account of the heavy withdrawal of deposits. The first intimation A. Branaman, the cashier, had that anything was wrong, was Thursday afternoon when several patrons came in and withdrew their deposits. There was no rush, but a steady drain that began to tell on the amount of cash in hand. The officials were in hopes that by opening hour next morning affairs would be quieted, as there was no cause for alarm, the bank being in good condition and, considering the hard times, doing remarkably well. Next morning, however, when some of the bank's best friends came one after another and withdrew their deposits, there was nothing left to do but to close. This was done and the comptroller notified. y 0 The affairs of the bank are in excellent condition and depositors will e be paid in full. The assets in loans y and discounts alone are about $92,000, 0 beside real estate and other property X and resources owned by the bank, while the entire liabilities are only about $63,000. The county has somewhere near $19,000 on deposit and S the school board about $5,300, which is all included in the above. The n bank has sufficient resources, with e n proper management, to pay all depositors dollar for dollar, and the y officials state that this will be done. d Ren French is one of the heaviest e individual depositors. The institution has two branches: one at Argonia, the other at Milan, r Both were still running at latest ady vices. The Milan bank has more than enough money on hand to pay its depositors and cannot be hurt by the failure. The branch at Argonia is also thought to be in good shape, 0 but, having received no statement n from there lately. the bank here does d not know its exact condition. e This failure is notonly a misfortune to the depositors, whose money is for d the present tied up, but is a detrie ment to the prosperity of the entire city. The whole cause seems to have 0 been the alarm of depositors for E reasons not defnitely known. rt Whether or not the bank will ren sume operations is not yet determinat able. It is to be hoped that its it condition will be found to be such as 's to warrant its continuance, as the entire business interests of the city will suffer from its closing.
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Argonia, Kan, Bank Fails. TopeKa, Kan., May 16.-The State bank commissioner was yesterday notified of the closing of the State Bank at Argonia, Sumner county, to avoid a run started by the failure of the Sumner National Bank. The cash on hand is $787 and it has $1,500 tied upin the Wellington failure.
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HAGAN MAY BE HONORED. The Wellington Administration Democrat is Slated. Washington, June 11.-Mr. Eckels, comptroller of the currency, took up the matter of appointing a receiver for the Sumner County National bank of Wellington, but concluded not to make the appointment until some time next week. It seems to be a difficult matter to make certain of an administration Democrat. W. W. Hagan of Wellington is being represented as a very finely preserved administration Democrat, and consequently it is insisted that he be appointed, but next week the comptroller expects to have additional information.
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BARNEY SHERIDAN'S JOB. Appointed Receiver of Two Defunct Wellington Banks. Wellington, Feb. 5.-Barney Sheridan of the Paloa Spirit has been appointed receiver of the First National and Sumner National banks of this city. J. S. Brown, the former receiver, has been appointed receiver of a bank in Helena, Mont. Mr. Sheridan was not an applicant for these places, but he happened to be in Washington at the time the vacancies occurred and Eugene Hagan of Topeka happened to be there with him and the appointment was made.
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Bank Declares a Dividend. Wellington, Aug. 9.-Receiver B. J. Sheridan has declared a 25 per cent dividend to depositors in the Sumner National bank. The work of making out the checks to depositors for their pro rata share is being done. This means a payment of $4,700 to the depositors.
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Wellington Bank Dividend. Wellington, Feb. 6.-A dividend of 10 per cent to Sumner National creditors is now being paid by Receiver Sheridan. This makes a total of 75 per cent and there will be one more dividend of perhaps 15 to 20 per cent. If pending litigation turns out favorably, the bank will pay out; if not, it will lack 5 per cent to 10 per cent. As to the First National bank which has paid 60 per cent, there will be a final dividend paid at the wind up within the next 60 or 90 days-likely about 10 per cent.
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Eugene Hagan of Topeka, and Barney Sheridan of Paola, were in the city last night, a fact which alarmed the silver Democracy to some extent. It was feared that these two Grover Cievelandites were hatching some conspiracy against the plain people, bat the fact is they were simply attending to some law business in which the Summer National bank of Wellingtoo, of which Mr. Sheridan Is receiver, is concerned.-Wichita Beacon.
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to receive the checks from the comptroller of the currency for the final dividend by March 20, and hopes to wind up the affairs of both banks by April 14. The only thing that will prevent this is two Sumner National suits now pending. The First National's total dividends will be 75 per cent. and the Sumner National's dividends from 95 to 97, per cent. Mr. Sheridan has made an excellent record as receiver of the two defunct Wellington banks. When he took hold of their affairs the depositors had no hopes of ever receiving more than 50 per cent.
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SELLING ASSETS OF BANKS. Receiver Sheridan Preparing to Make Final Settlement. Wellington, Kas., Feb. 26.-The remaining assets of the defunct First and Sumner National banks were sold at public auction in this city yesterday afternoon by Receiver B. J. Sheridan. The assets of the First National brought $1,241 and were sold to Luella F. Stewart. The Sumner National assets were sold to E. H. Stewart, and brought $1,301. They represented about $135,000. The First National assets represented about $103,500. Receiver Sheridan will make answer to the court about March 5. He expects