gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
8aa6bfa229e492df
Response Measures
None
Receivership Details
Depositor recovery rate
84.8%
Date receivership started
1890-12-26
Date receivership terminated
1908-10-31
OCC cause of failure
Fraud
Share of assets assessed as good
32.3%
Share of assets assessed as doubtful
59.0%
Share of assets assessed as worthless
8.7%
Description
Known receivership date (1890-12-26) used as the closure date; contemporaneous reports describe a suspension on Dec. 9, 1890.
Events (4)
1.March 15, 1889Chartered
Source
historical_nic
2.December 9, 1890Suspension
Cause
Macro News
Cause Details
Stringency of money in the markets and inability to collect loans, causing the bank to close its doors for lack of funds.
Newspaper Excerpt
The American National Bank of this city closed its doors this morning for lack of funds to meet its obligations. The stringency of the times and inability to collect money loaned, are assigned as causes of the failure.
Source
newspapers
3.December 26, 1890Receivership
Source
historical_nic
4.December 26, 1890Receivership
Source
newspapers
Newspaper Articles (21)
1.March 16, 1889The Memphis AppealMemphis, TN
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Article Text
Capital Notes. The Secretary of the Treasury yesterday afternoon accepted $150,000 4½ per cent. registered bonds at 108, John S. Clarkson received his commission at 12 o'clock yesterday, and immediately took the prescribed oath and entered upon his duties as First Assistant Postmaster-General. The Acting Comptroller of the Currency yesterday authorized the American National Bank at Arkansas City, Kansas. to begin business with a capital of $100,000. A party from the White House consisting of Mrs. Harrison. Mrs. Russell Harrison, Mrs. McKee, Mr. Charles Saunders and Miss Newcomer attended the performance of "Nadjy" last night. There was but one proposal received by the Navy Department for supplying the machinery of the "armored cruiser Maine, now building at the New York Navy Yard. This bid was made by the Quintard Iron Company of New York, (N. F. Palmer&Co.) and amounted to $735,000. Orders have been given to prepare the United States steamship Adams, at Mare Island, California, for a year's cruise, and the Iroquois, at the same yard, for a three years' cruise. Orders ha been given to the commandants of yards to notify all suspended per diem employes to consider themselves discharged.
2.December 9, 1890Deseret Evening NewsSalt Lake City, UT
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Article Text
Failures. NEW YORK, Dec. 9.-The failure of Calbron, Chauney & Co. has just been announced on the stock exchange. BOSTON, Dec. 9.- Whitten & Young, wholesale clothiers, have assigned. Liabilities, $700,000. G. W. Ingalls, a shoe dealer, has failed. Liabilities, $200,000. KANSAS CITY, Mo., Dac. 9.-A special from Arkansas City, Kansas, says. The American National Bank has failed. The stringency of money and inability to collect caused the suspension. The assets and liabilities are unknown. They claim to be able to resume in a few days.
3.December 10, 1890The Portland Daily PressPortland, ME
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Article Text
A Kansas Bank Suspends. ARKANSAS CITY, Kans., December 9.The American National Bank of this city closed its doors this morning for lack of funds to meet its obligations. The stringency of the times and inability to collect money loaned, are assigned as causes of the failure, The bank claims it will pay all its obligations in a very few days. The amount of liabilities and assets cannot be obtained.
4.December 10, 1890The Helena IndependentHelena, MT
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Article Text
Another Kansas Bank. KANSAS CITY, Dec. 9.-A special from Arkansas City, Kas., says the American National bank has failed. Stringency in money and the inability to collect money caused the suspension. The assets and liabilities are unknown. They claim they will be ready to resume in a few days.
A Kansas Bank Falls. ARKANSAS CITY, KAS., Dec. 9.-The American National Bank of this city closed its doors this morning for a lack of funds to meet their obligations. The stringency of the times and the inability to collect money that they have loaned are assigned as the causes of the failure. They claim they will be able to pay all of their obligations in a very few days. Assets and liabilities unknown.
6.December 10, 1890The Morning NewsSavannah, GA
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Article Text
BANK DOORS SWING TO. A Claim That Everybody Will Be Paid in a Few Days. NEW YORK, Dec. 9-A special from Arkansas City. Kan., says: "The American National Bank, of this city, closed its doors this morning for lack of funds to meet their obligations. The stringency of the times and inability to collect money that they have loaned are assigned as the causes of the failure. The-claim that they will be able to pay all their obigations in a very few days. The amount of the liabilities cannot be obtai ed."
7.December 10, 1890New-York TribuneNew York, NY
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Article Text
A NATIONAL BANK CLOSES ITS DOORS. Kansas City, Mo., Dec. 9.-A dispatch from Arkansas City, Kan., says: "The American National Bank of this city closed its doors this morning for a lack of funds to meet its obligations. The stringency of the times and inability to collect money that it has loaned are assigned as the causes of the failure. The
8.December 10, 1890The Salt Lake HeraldSalt Lake City, UT
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Article Text
Arkansas City National Bank Fails. KANSAS CITY, Mo., Dec. 9.-A special from Arkansas City, Kans., says: The Amer. ican National bank has failed. Stringency of money and inability to collect caused the suspension. The assets and liabilities are unknown. They claim they will be able to resume in a few days.
9.December 11, 1890Santa Fe Daily New MexicanSanta Fe., Santa Fe, NM
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Article Text
CONDENSED NEWS. The American Nation bank, Arkansas City, Kas., has closed its doors. The Central Coal company, Springfield, III., has gone into the hands of a receiver. At Lyndonville, Vt., the thermometer registers 30 degrees below zero. Bernard Donnelly, a wealthy Kansas City broker, accidentally shot himself. Recovery doubtful. The ice companies are preparing to cut the winter crop of ice on the Kennebec. The ice is thirty inches thick. A syndicate is negotiating for the purchase of all the type foundries in the country. They have $20,000,000 at their command. Frank W. Gregory, managing editor of the Memphis, Tenn., Evening Democrat, has been indicted by the federal grand jury for violating the lottery law. D. Egan, an iron worker on the dome of the state house at Topeka, Kas., fell and was killed. He is the ninth victim. He leaves a wife and two children.
10.December 11, 1890The Stark County DemocratCanton, OH
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Article Text
Another Bank Closes Its Doors. ARKANSAS CITY, KAN., Dec. 10.-The American National bank, of is city closed its doors yesterday for a lack of funds to meet their obligations. The stringency of the times and inability to collect money that they have loaned are assigned as the causes of the failure. They claim that they will be able to pay all of their obligations in a very few days. The amount of the liabilities and assets cannot be obtained.
11.December 11, 1890Spokane Falls ReviewSpokane, Spokane Falls, WA
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Article Text
KANSAS CITY, Dec. 9.-A special from Arkansas City, Kan., says the American National bank has failed. The stringency of money and inability to collect caused the suspension. The assets and liabilities are unknown. They claim they will be able to resume in a few days.
12.November 1, 1894Barton County DemocratGreat Bend, KS
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Article Text
The comptroller of the currency has declared a dividend of 10 per cent. in favor of the creditors of the suspended American national bank of Arkansas City, Kan.
13.November 2, 1894The Iola RegisterIola, KS
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Article Text
The comptroller of the currency has declared a dividend of 10 per cent. in favor of the creditors of the suspended American national bank of Arkansas City, Kan.
14.August 4, 1897The AdvocateTopeka, KS
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Article Text
Kansas Court of Appeals, Southern Department, Central Division.
No. 213.
Hiram F. Hatch, receiver of the American National Bank of Arkansas City, plaintiff in error,
vs.
S. C. Smith, defendant in error.
Error from Cowley County District Court.
REVERSED.
SYLLABUS.
A residence once shown to have been established is presumed to continue until it is clearly shown to have been abandoned. The residence of a man having a family, which he maintains, is prima facie where that family dwells. A man's acts and conduct are more to be considered in determining the question of a change of residence than any mere declaration of intent; and when the question of residence or non-residence is doubtful, the question should be so determined as will best secure the rights of creditors and others having dealings with such party. (Keith v. Stet-ter, 25 Kas., 70.)
Opinion by Schoonover, J.
Receiver Brown is Paying Another Ten Per Cent on the Arkansas City Bank. The Eagle is in receipt of a letter dated at Helena, Montana, from Mr. J. Sam Brown, receiver for the American National bank at Arkansas City. Mr. Brown states in his letter that he is now paying a dividend of 10 per cent to the creditors of the bank. Since he has been in control of the bank's property he has throught his business skill succeeded in paying with the present divident, 70 per cent, which is an exceptional showing. This will be gratifying news to those whom the bank was indebted to.
# OVER RULED ALL EXCEPTIONS
Judge Williams Finally Decides ths Highland-Hall Company.
There was a long, weary session of the federal court yesterday, which interested seemingly no one but the attorneys employed. It was the Highland-Hall case and it has been pending in the court for six years. After the attorneys got through arguing it didn't take Judge Williams long to make known his decision, which was in favor of the First National bank of Arkansas City.
J. Sam Brown, receiver of the American National bank at Arkansas City, brought suit through his attorneys, Peters & Nicholson, against the Highland-Hall company. The Highland-Hall company were represented by F. L. Rosmond of Cambridge, O., and C. L. Brown of Arkansas City. John A. Eaton of Kansas City and J. C. Pollock of Winfield represented the First National bank. Special Master Sherman found that the Highland-Hall company owed about $3,200, but the court found them in debt about $13,000. Judge Williams overruled all exceptions and sustained his former ruling.
17.October 10, 1897The Guthrie Daily LeaderGuthrie, OK
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Article Text
Political Points. Walter Fields is booked for a place in the Indian service. Tom Smith will get a $2,000 position as custodian of the department ware house at New York. J. Sam Brown has resigned as receiver of the American National bank of Arkansas City. Governor Barnes, Attorney-General Cunningham and Treasurer Thompson attended the soldlers' reunion at Ponca yesterday.
18.October 28, 1897The Guthrie Daily LeaderGuthrie, OK
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Article Text
COURT ADJOURNS Until November First-The Peoples Case-New Suit. Judge Dale adjourned district court yesterday until November 1. Judge Dale will go to Norman tomorrow to hold court Mrs. D A. Peoples will be allowed to file an amended petition. W. H. Hilton, through his attorney, S. L. Overstreet, filed a petition in court yesterdav against John Watts, receiver of the American National bank, of Arkansas City, asking for an accounting in the matter of the old electric light plant of Guthrie.
19.December 20, 1897The Topeka State JournalTopeka, KS
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Article Text
Judge Peters Called to Washington. Newton, Dec. 20.-Judge S. R. Peters has gone to Washington, D. C., where he was called by telegram from James H. Eckels, comptroller of the currency, on matters connected with the receivership of the American National bank of Arkansas City.
NOTES CAN BE READ
Miss Slaven Was Unusually Good in Stenography.
Miss Slaven took the testimony in the case of Lizzie E. Williams vs. John Watts, receiver of the American National bank of Arkansas City, which was tried last March in the federal court and which resulted in a judgment of $42,000 against the bank. An appeal had been ordered, and Miss Slaven had been reducing her notes of the testimony to longhand for the last two weeks, so that the bill of exceptions in the case can be completed.
Miss Slaven was an exceptionally good stenographer, and it is very probable that her notes can be read, though perhaps not just as she would have interpreted them herself.
(First Publication November 14, 1899.) PUBLICATION NOTICE. In the District Court of Sedgwick County, Kansas. John Watts. Receiver of the American National Bank of Arkansas City, Kansas, Plaintiff, vs. J. Sam Brown and The Fourth National Bank of Wichita, Kansas, Defendants. To J. Sam Brown: You are hereby notified that you have been sued by the above named plaintiff in the above entitled action, in the District Court of Sedgwick county, Kansas, and that unless you answer the petition of said plaintiff, filed in said action in the office of said clerk of said court, by the 29th day of December, 1899, said petition will be taken as true and judgment will be rendered in said action in favor of said plaintiff, against you, the said defendant, for the sum of $183.99, together with interest thereon at the rate of 6 per cent per annum from the 12th day of December, 1896, and for costs, and the sum of $183.99 now on deposit in The Fourth National Bank of Wichita, Kansas. be declared an asset of The American National Bank of Arkansas City and ordered paid to the plaintiff. PETERS & NICHOLSON. Attorneys for Plaintiff. Attest: P. L. ARNETT. Clerk of the District Court. By C. E. GOODYEAR, Deputy.
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.
