Citizens Bank (Kansas City, KS)

Episode Information

Episode UID
5172649291123
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
517264929 hash
Start Date
July 18, 1893
Location
Kansas City, Kansas (39.114, -94.627)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2055d525ea922bd5

Response Measures

None

Description

State bank commissioner took possession and a receiver was later active; some reports also mention an Armourdale Citizens Bank which may refer to the same institution or nearby branch.

Events (2)
1. July 18, 1893 Receivership
Newspaper Excerpt
State Bank Commissioner Breidenthal took possession of the bank. (receiver later referenced in 1897 suits and 1898 examinations of the receivership.)
Source
newspapers
2. July 18, 1893 Suspension
Cause
Government Action
Cause Details
State Bank Commissioner Breidenthal took possession when the bank suspended payment; suspension recorded as July 18, 1893.
Newspaper Excerpt
The Citizens' bank suspended payment today, with assets of $151,500 and liabilities of $126,500. State Bank Commissioner Breidenthal took possession of the bank.
Source
newspapers

Newspaper Articles (13)
1. July 19, 1893 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, July 19, 1893

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Article Text

Other Failures. FORT SCOTT. Kan.. July 18.-The First National bank. the oldest financial institution in this part of the state, has failed. TOLEDO, July 18.-The Citizens' bank of Ada. the most prominent in Hardin county failed this morning. No statement. DENVER. Colo., July 18.-The McNamara Dry Goods company, one of the largest houses in the West, was closed by attachment this morning. ARMOURDALE. Kan., July 18.-The Citizens bank suspended payment to-day. with assets of $151.500 and liabilities of $126,500. Among the heavy creditors is the county of Wyandotte. which had on deposit $40,000 of its own funds. DENVER. July 18.-Hyman & Co., proprietors of the Bee Hive store; McWhirter & Co., dealers in mantles and tiles; and

2. July 19, 1893 The Herald Los Angeles, CA
Article from The Herald, July 19, 1893

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Article Text

KANSAS BANK FAILURES. Several Large and Many Small Institutions Collapse. TOPEKA, Kan., July 18.-State Bank Examiner Breidenthal this morning received notice of the failure of the Citizens' bank of Kansas City, Kansas; the Bank of Richmond and the Farmers and Merchants bank of The concerns are all small. Other similar failures throughout the state are expected. ARMOURDALE, Kan., July 18. - The Citizens' bank suspended pay ment today with assets $151,500 and liabilities of $126,500. Among the heavy creditors is the county of Wyandotts, which had on deposit $40,000 of itsfunds. FORT SCOTT, Kan., July 18.-The First National-bank, the oldest financial institution in this part of the state, has failed. A notice on the door saye the failure is owing to the steady withdrawal of deposits and inability to collect assets; that the closing of the doors is only temporary; that the assets are more than three times the liabilities, and that depositors will lose nothing. It has a capital of $300,000.

3. July 19, 1893 Grand Rapids Herald Grand Rapids, MI
Article from Grand Rapids Herald, July 19, 1893

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Article Text

Kansas Banks Go Under. TOPREA, Kan., July 18. State Bank Examiner Breidentball this morning recoived notice of the failure of the Citisens' Bank of Kaneas City, Kan., the Bank of Richmond and the Farmars' and Merchants' bank of Omawatomia. The concerns all did a small business ONSAWATOMIX, Kan., July 18.-The Farmers' and Mechanics' bank of this city suspended this morning and is now in the hands of the state bank conamia simen. it is claimed that assets are much larger than liabilities Fort Scott. Kan., July 18.-The First National bank of this city failed to open its doers for business this morn. ing at the usual time, and the first inti. mation any one had of the financial con ditice of the bank was when a sotice was put up on the front door at 9 e'clock.

4. July 19, 1893 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, July 19, 1893

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Article Text

Three Small Banks Suspend. TOPEKA, July 19.-State Bank Examiner Breidenthal received notice of the failure of the Citizens' bank of Kansas City, the Bank of Richmond and the Farmers' and Merchants' bank of Osawatomie. The concerns all did a small business.

5. July 19, 1893 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, July 19, 1893

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Article Text

Another Kansas Bank Fails. ARMOURDALE, Kan., July 19.-The Citizen's bank suspended payment, with assets of $151,500 and liabilities of $126,500. State Bank Commissioner Breidenthal took possession of the bank.

6. July 19, 1893 The Record-Union Sacramento, CA
Article from The Record-Union, July 19, 1893

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statements, but the amounts are probably not large. Following the failure of the big McNamara drygoods house this morning, several other mercantile failures were announced. They were the John Mouat Lumber Company, on an attachment from the German National Bank, for $155,000; Albert Nelson, restaurant and saloon, assets $111,510, liabilities $96,725; M. S. Noah, installment furniture house, assets $40,000, liabilities $16,000. Three other firms with liabilities of $20,000 each also failed. 1 AT KANSAS CITY. KANSAS CITY, July 18.-Although last night the bankers of Kansas City did not expect to get through to-day without trouble, none came, and the impression prevails that to-day marks the beginning of the end of the recent financial flurry here. ANOTHER BANK GOES. ARMOURDALE (Kas.), July i.-The Citizens' Bank suspended payment today, with assets of $151,500 and liabilities of $126,500. Among the heavy creditors is the county of Wyandotte, which had on deposit $40,000 of its funds.

7. July 20, 1893 Echo De L'ouest Minneapolis, MN
Article from Echo De L'ouest, July 20, 1893

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Faillites de Banques et antres depuis quelques jours -Le Schleisinger Syndicate de Nigaumee, Mich, representant des millions de dollars de capital allemand a fait faillite. Les pertes des créanciers seront énormes. W.H. Rush et H, M. Tabor de Denver, Col., ont deposé leur bilan. Passif 650000 dollare. La Bank of Springfield, Mo, a fermée ses portes. C'est la premiè re fois qu'une banque fait faillite dans la ville. Passif 256,000 dollare. Fermée est la Bank of Garnet, Kan. Les déposants perdront énormé ment et le comté 23,000 dollare que le tréforier y avait déposés. Trois faillites de banques de New-York, celles de MM. C. H. Bunell, celle de M. H. S. Tober et enfin celle de M. W. Barrow. La Philadelphia Mutual Life Insurance Company de Harris burg, Pa., et la Keyatone Benefit Association de Beaver Falls, Pa., sont insolvables. O. E. Nettleton banquier de Deeham, Mass., a dépost son bilan. Le "Universal Order of Coope ration" de Philad-lphie va être mis entre les mains d'nn syndic. Harris Bros de New York ont suspendu leurs paiements. Passif 100,000 dollars. La N W Jersey Sheep & Wool Company de Trenton N. Y. a fermé ses portes. En faillite auesi dans le Kansas La "Bank of Balter and Double Bay de Columbus" la "City Bank" de Johnson City, et la "Book of Weir City" La Peoples Savings Bank de Denver, Col., a ferme see portee. Passif 350,000 dollare. La Rocky Mountain Dime et Dollar Bank de la même ville a suspendu ees paiements. Il en est de même de la Colorado Savings Bank. La Missouri National Bank et la Grande Avenue Bank de Kan888 City ont fait faillite. Passif 250,000 dollars. Et la liste eat loin d'être épuisée. Enfin les banques "Union National," "Commercial National," "National Bank of Commerce" et "Mercautiie Bank" de Denver, Col., ont aussi sombré. Il en est de même de la "Citizen's Bank" de Kansas City, de la "Bank of Richmond" et de la "Farmers et Merchants Bank" de Oaawatomie, Kan., ainsi que de la "First National Bank" de Fort Scott et de la "Armourdale CitiZons Bind," Kansas. On va bien sous le régime démocratique.

8. July 21, 1893 The Clarksburg Telegram Clarksburg, WV
Article from The Clarksburg Telegram, July 21, 1893

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IT'S AWFUL. Leading Institutions of The West go Under. GLORIOUS DEMOCRATIC ADMINISTRATION. In no period of American history has there been such collapsing of what were supposed to be the strongest banks of the country. Nearly all the banks of the famous city of Denver, Colorado, closed their doors without a moment's warning on Tuesday. The great Union National was first to suspend. Its capital stock was over one million dollars. Next the Commercial National and a little låter the Bank of Commerce went under. Frantic mobs rushed wildly about crying "where will it stop." CALAMITIES STILL COME. DENVER, COL.. July 18.-The McNamara Dry Goods Company. one of the largest institutions of the kind here. failed this morning. The liabilities are placed at $260,000. TOLEDO, O., July 18. -The Citizens' Bank, of Ada, the most prominent one in Hardin county, failed to open its doors this morning. ARMOURDALE, KANSAS, July 18. -The Citizens' Bank suspended payment to-day with assets of $151,500 and liabilities of $126, 500. FT. SCOTT, KAS., July 18-The First National Bank, of this city failed to open for business this 1 morning. It had a capital stock of $800,000, fully paid in and has always stood all runs. TOPEKA, KAS., July 18.-The S State Bank Examiner this morning received notice of the failure of the Citizens' Bank, of Kansas N City, Kansas, of the Bank of 0 Richmond, and of the Farmers' and Merchants' Bank at Ossawate tomie. The opinion is expressed t that other institutions through. out the State will soon go under. 1 BOSTON, MASS., July 18.-The Amoskeag mills which will close for the month of August accordvary ing to a vote of its directors at (1) Manchester, N. H., employes 8,000 hands. It has a pay roll of may $225,000 per month and uses 6, 000,000 pounds of cotton per 1 week. Other mills are likely to follow suit. Amoskeag mills is the largest producer of manufactured goods in the world. All the above dispatches were from the news columns of Wednesdays's Wheeling Register.

9. July 26, 1893 The Indiana State Sentinel Indianapolis, IN
Article from The Indiana State Sentinel, July 26, 1893

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Forced to Suspend. ARMOURDALE, Kas., July 18.-The Citizens' bank suspended payment today, with assets of $151,500 and liabilities of $126,500. State Bank Commissioner Breidenthal took possession of the bank. Among the heavy creditors of the bank is the county of Wyandotte, which had on deposit some $40,000 of its funds.

10. July 14, 1897 Kansas City Journal Kansas City, MO
Article from Kansas City Journal, July 14, 1897

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DOUBLE LIABILITY LAW. Receiver of the Defunct Kansas City, Kas., Bank Sues Milton Welsh to Recover $1,750. W. H. Bridgens, receiver of the Citizens' Bank of Kansas City, Kas., which suspended July 17, 1893, began suit in the Jackson county circuit coart yesterday against Milton Welsh to recover $1,750 under the stockholders' liability law of Kansas. Mr. Welsh owned $1,000 worth of stock in the defunct bank, on which he paid a stockholders' assessment of $250. The Kansas law provides that after the receiver has had one year in which to realize on assets and fails to realize sufficiently to pay off the debts of the institution, he may bring suit against stockholders, who are liable for double the value of their stock.

11. July 22, 1897 Abilene Weekly Reflector Abilene, KS
Article from Abilene Weekly Reflector, July 22, 1897

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Pays Dearly for Legal Advice. TOPEKA, Kan., July 17.-The receiver of the Citizens' bank, of Kansas City, Kan., has made his report to the state bank examiner and it shows two items of interest. One is the salary of the receiver and his expenses, amounting to $1,903, and the other item is $6,154 for attorney fees for the same length of time,

12. February 18, 1898 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, February 18, 1898

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Deputy Bank Commissioner Waterman Files His Report ON ARMOURDALEBANK Condemns Methods of Conducting Receiverships And the Extortions of Attorneys Connected Therewith. The lawyers interested in the receivership proceedings of the Citizens' bank of Armourdale and the lawyers identified with the receivership proceedings in general, are unmercifully scored in a report filed by Deputy Bank Examiner M. A. Waterman with Bank Commissioner Breidenthal today. Mr. Waterman completed an examination of the receivership of the bank this week. At the start of his report Mr. Waterman recommends that bank receivers in future receive a certain per cent for handling the business instead of a stated salary, and then referring to the receivership of the Citizens' bank, especially says: "The manner in which the receiver has been held up for attorneys' fees is infamous in the extreme, and in comparison with which highwaymanship is honorable. These institutions are looked upon by lawyers as legitimate prey, and they flock to them like buzzards and eagles to a new born lamb, and exhibit no more decency or mercy. If their bills or methods are questioned, expert testimony of brother lawyers is called into requisition and the skinning process legalized. The attorneys' bill now under consideration should not be allowed, and the attorneys should be made to disgorge a portion of what they have already received." Scroggs & McFadden of Kansas City, Kan., is the law firm that has been handling the receivership proceedings. The bank burst in 1893, and although it has not paid one cent of dividends since taken charge of by the receiver, the attorneys have received $7,250 for their work - In addition to this, they have bills now pending amounting to in the neighborhood of $8,000.

13. February 23, 1898 The Advocate and News Topeka, KS
Article from The Advocate and News, February 23, 1898

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Receivers Are Costly Luxuries. Bank Commissioner Breidenthal did well when he secured the adoption of a provision in the banking law, which he presented to the last Legislature, which gives him authority to require reports of and examine into the condition of banks in the hands of a receiver. He is doing better in seeing to it that the old-fashioned robbery of creditors is stopped. In case after case enormous portions of the assets of suspended banks have been squandered by the receivers and attorneys in the most reckless fashion. He has just had a round-up with the receiver of the Citizens' Bank of Armourdale in which case the "skinning process," as Examiner Waterman calls it, was in full operation. In this case not a cent has been paid to creditors, but attorneys and receiver have bills piled up amounting to $7,250. He objects strongly to such a' course and is taking steps to get the money which can be secured from the assets into the hands of the creditors, where it belongs. He is doing right.