Kansas City State Bank (Kansas City, MO)

Episode Information

Episode UID
6187359291268
Episode Type
Run → Suspension → Closure
Bank Type
state
Bank ID
618735929 hash
Start Date
August 1, 1905*
Location
Kansas City, Missouri (39.100, -94.579)

Metadata

Model
gemini-3-flash-preview (chosen from majority vote of a three-model LLM ensemble)
Short Digest
72adde1e8e067baf

Response Measures

None

Description

The bank experienced a steady drain of deposits for weeks following the failure of a correspondent (Salmon & Salmon) before formally closing and liquidating through the Fidelity Trust Company.

Events (3)
1. August 1, 1905* Run
Cause
Correspondent
Cause Details
Failure of Salmon & Salmon bank at Clinton, Mo., to which the bank had loaned significant funds, causing depositor nervousness.
Measures
The bank sought assistance from the clearing house and eventually arranged for liquidation through Fidelity Trust Co.
Newspaper Excerpt
Ever since the failure of the Salmon & Salmon bank... timid depositors hastened to close their accounts. This caused a heavy drain on the resources of the bank
Source
newspapers
2. September 25, 1905 Other
Newspaper Excerpt
This bank has gone into voluntary liquidation through the Fidelity Trust company. Checks drawn against the bank will be paid on presentation by the Fidelity Trust company at Ninth and Walnut streets. WILEY O. COX, Prest.
Source
newspapers
3. September 25, 1905 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Heavy drain on resources due to bad loans and entanglement with the failed Salmon & Salmon bank.
Newspaper Excerpt
The Kansas City State bank... failed to open its doors today, having gone into voluntary liquidation.
Source
newspapers

Newspaper Articles (16)
1. September 25, 1905 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, September 25, 1905

Click image to open full size in new tab

Article Text

Kansas City State Bank Fails to Open Its Doors and Goes Into Voluntary Liquidation. IT WAS ORGANIZED IN 1888 Wiley 0 Cox, Its President, Makes a Statement-Depositors Will Lose Nothing. Kansas City, Sept. 25.-The Kansas City State bank, Wiley O. Cox, president, failed to open Its doors today, having gone into voluntary liquidation. The bank has loaned $168,000 to the bank of Salmon & Salmon at Clinton, Mo., which failed last July, catching depositors for several thousand dollars. The Kansas City state bank was organized in 1888 and had a capital of $200,000. The last statement showed loans of $4,000,000; deposits, $4,750,000; surplus, $14,000. The following notice was posted on the door at the opening hour today: "This bank has gone into voluntary liquidation through the Fidelity Trust company. Checks drawn against the bank will be paid on presentation by the Fidelity Trust company at Ninth and Walnut streets. "WILEY O. COX, Prest." The Fidelity Trust company, which is capitalized at $1,000,000, is considered one of the strongest banking institutions in the southwest. The Kansas City State bank holds $567,000 of the city's money. Wiley O, Cox, president of the Kansas City State bank, is one of the oldest and best known men in Missouri. He has lived in Missouri since 1868. In 1872 he was a clerk in the First National bank at Springfield, Mo., coming to Kansas City in 1881. From 1884 he was engaged in a general financial and loan brokerage business. He organized the Kansas City State bank in 1888, and has always been its president. In 1896 he bought the Kansas City Times, a venture that did not prove successful, and in 1899 he sold the paper. At the Fidelity Trust company's bank checks on the Kansas City State bank were honored as fast as presented. There was no show of commotion and Charles Campbell, vice presidnt of the Fidelity Trust company stated that all checks drawn on the closed bank, would be paid upon demand. Wiley O. Cox, president of the Kansas City State bank, made the following statement to the Associated Press: "The retirement of the Kansas City State bank from active business is voluntary. Our business has not been growing for some time and we found it hard to hold our own with the larger institutions. In fact, it looks as if the banking business as well as all other lines, is concentrating into the large ones. "Entirely satisfactory arrangements have been made whereby the Fidelity Trust company, one of our strongest banking houses. has taken over the business of the bank and is paying our depositors. in the ordinary way, on demand. "On retiring from the banking business for the present, after an active coreer of many years. I cannot help feeling extremely' proud that no depositor has ever failed to have his checks honored and paid on presentation at any bank with which I have been connected." The Fidelity Trust company volunteered to pay the city treasurer the amount of the city's funds on deposit in the Kansas City state bank but the not

2. September 26, 1905 Americus Times-Recorder Americus, GA
Article from Americus Times-Recorder, September 26, 1905

Click image to open full size in new tab

Article Text

KANSAS CITY BANK CLOSES ITS DOORS Well Known Financial Institu tion Goes Into Liquidation. DEPOSITS OVER FOUR MILLION Notice of Suspension Is Announced and that All Depositors Will Be Paid by Large Trust Company-Bad Loans Cause of Failure. Kansas City, Sept. 25.-The Kansas City state bank, Wiley O. Cox., president, failed to open its doors today, having gone into voluntary liquidation. The bank had loaned $168,000 to the bank of Salmon & Salmon and Clinton, which failed last July, catching de positors for several thousand collars. The Kansas City state bank was or. ganized in 1888 and had a capital. of $200,000. The last statement showed loans of $4,000,000 deposits, $4,730,000, surplus $140,000. The following notice was posted on the door at the opening hour today: "This bank has gone into voluntary liquidation through the Fidelity Trust company. Checks, drawn against the bank will be paid on presentation on the Fidelity Trust company, at Ninta and Walnut streets, Wiley O. Cox, president." The Fidelity Trust company, which is capitalized at $11,000,000, is considered one of the strongest banking institutions in the southwest. The Kansas City state holds $567,000 of the city's money. Wiley Cox is one of the oldest and best known men in Missouri. He has lived in Missouri since 1868. In 1872 he was a clerk in the First National bank at Springfield, Mo., coming to Kansas City in 1881. From 1884 to 1888 he was engaged in general financial and loan brokerage business. He organized the Kansas City State bank In 1888 and has always served as its president. In 1896 he bought the Kan. sas City Times, a venture that did not prove successful and in 1899 he sold the paper. Although the Fidelity Trust company bank checks on the Kansas City State bank were honored as far as presented, there was no show of commotion, and Charles Campbell, vice president of the Fidelity Trust company, stated that all checks drawn on the closed bank would be paid on demand. Mr. Campbell declined to talk of the causes of the close of the bank.

3. September 26, 1905 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, September 26, 1905

Click image to open full size in new tab

Article Text

Large Advances to Insolvent Salmon Bank Frightens Depositors. RUN STEADY FOR SEVERAL WEEKS Trust Company Takes Over All Assets of the Bank. DEPOSITORS TO BE PAID ON DEMAND Collateral from Salmon Bank that Caused Trouble Now Said to Be of the Highest Grade. KANSAS CITY, Sept. 25. -The Kansas bank. Wiley O. Cox. president, to its doors today, gone liquidation. The City into failed voluntary State open having bank had $168,000 to the bank of Salmon & at Clinton, Mo., which July, depositors for Salmon loaned catching several failed hun- last dred thousand dollars The Kansas City State bank was organized in 1888 and had a capital of $200,000. $4,000,The last statement showed loans of 000; deposits, $4,750,000; surplus, $14,000. The following notice was posted on the door at the opening hour today: This bank has gone into voluntary company. liquidthrough the Fidelity Trust ation Checks drawn against the bank will be com- paid and on presentation by the Fidelity streets. Trust pany O. COX, at Ninth WILEY Walnut President. which The Fidelity Trust company, of is capitalized at $1,000,000, is considered one the the strongest banking institutions in southwest. The Kansas City State bank holds $567,000 of the city's money. Wiley O. Cox, president of the Kansas State bank, is one of the oldest and has best City known men in Missouri. He lived in Missouri since 1868. In 1872 he was at clerk in the First National bank in a Springfield, Mo., coming to Kansas City in 1881. From 1884 to 1888 he was engaged general financial and brokerage business. bank a He organized the Kansas City State in 1888, and has always served as its president. In 1896 he bought the Kansas City sucTimes, a venture that did not prove cessful, and in 1899 he sold the paper. At the Fidelity Trust company's bank bank checks on the Kansas City State There were honored as fast as presented. Charles was no show of commotion and Campbell, vice president of the Fidelity Trust company, stated that all checks drawn on the closed bank would be paid upon demand. Mr. Campbell declined to talk of the the causes leading up to the closing of Kansas City State bank. Statement of President. O. Cox. president of the Kansas Wiley State bank, made the following state= ment City to the Associated Press: retirement of the Kansas City State The active business is voluntary. has not been growing for our son.e own Our we found it hard to hold time and the larger Institutions. In fact. bank business from well it with If the banking business, as the as looks all other as lines, is concentrating into 1 larger condition ones. of the business was directors thory The gone over by the board of it was n oughly conclusion was reached that to and prospering the as it ought to do in order to go not and it was determined be profitable, voluntary liquidation. One plan which our < into have been adopted was to do on deown liquidation. new business This it f might mand and taking proved on paying no very depositors expensive, as would have involved borrowing a large y would have money on the bank's paper force in order of sum to pay of depositors at once, continuing the pracclerks, the office same rent, as If etc., the bank were running Accordtically usual and ordinary way, liquidation in the negotiations looking to the banking inS ingly business through other reof the were begun, and hav finally entirely d arrangement sulted stitutions in the consummation of whereby an the d satisfactory Fidelity Trust company. one taken of our over strong- the 8. est banking the houses, bank and has is paying its dey business in of the ordinary way on demand, If still positors the same as we would be doing in r running. retiring from the banking career business. of in On present, after an active extremely It for the I cannot help feeling failed to many years, that no depositor has ever pred proud checks honored and paid on I have sentation have his at any bank with which been connected Fidelity Trust company volunteered the N The the city treasurer the amount of City to pay funds on deposits in the Kansha with0 city's State bank, but the money was not drawn. Meeting of Directors. decision to liquidate was reached fol- the The a meeting of representatives Investi- of clearing lowing house banks. A thorough of the accounts of the bank had gation made, a carefully prepared statement in 8 been the resources and liabilities, checked for of detail and the collaterals held g every loans appraised by financial experts. This offdone at the request of the bank's the be was who were seeking a way to close dolcials, without placing in jeopardy one since bank of the depositors' money. Ever lar failure of the Salmon & Salmon bank been at the Mo., the bank's business had Cliniton. decline. Many large depositors with- fact on a their accounts because of the d drew the bank had advanced the Salmons that than $200,000 on collateral that is now the more by bankers to be gilt-edged. At 0 said the value of the collateral was problematical time and timid depositors hastened to n their accounts. This caused a heavy in close the resources of the bank, and the avert trouble the the decided upon as drain institution order on to liquidation officers financial of easiest way out of a perplexing

4. September 28, 1905 Durango Semi-Weekly Herald Durango, CO
Article from Durango Semi-Weekly Herald, September 28, 1905

Click image to open full size in new tab

Article Text

TELEGRAPH NEWS. KanCITY, went into sas liquidation KANSAS City State bank today through A notice the hote was by delity tary Trust all company. checks would be the latposted that all deposits paid heavy losses the failure ored ter. and The and bank indirectly suffered bank through at Clinton, enknowledge directly of the Salmon of its Clinton Mo. General with the in defunct withdrawals further institution tanglement resulted continuance of the busi$200,000 and unprofitable. capital of ness bank had a 29 were about is The deposits May half. Wiley C. Cox million and and a institution. failof the Sept. 25.-The president CLINTON Kansas Mo., City State bank. some of the unexpected. caused nearly surprise are while not collateral here. The of bank the for holds defunct overdrafts Sal$300,000 as security see in the failof mon $150,000. bank complications Lawyers in settling further are further bank's affairs and Salmon depositors. the for its if they will relosses now doubtful having J. It is worth 25. -Rev. Challen alize SILVERTON. anything Sept. of the Congre Smith. pastor of this city, handed of yes gational his resignation church service, at the close to take came efin morning's days. This Smith is well was his fect terday very much within as sixty a in surprise. the city as and Mr. it through liked instrumentality library, largely Silverton has a Carnegie and immedi that is public spirited, up church work the as he upon taking movement for and he board. is ately here he started a the present secretary library the library COD Emberly. market an of OURAY. Sept. 25. miner and timer here, a knew, is dead. old whom everybody only in the fact he is an He man, was distinguished oid timer, and others that gone Mo., Sept. divorce denied a INDEPENDENCE unheralded. Gates. 25.Mrs. Hull was that in from Ethel John contention Hull today by their Judge sixteen had the Her chief twelve years of the ausband years past of married her life furless necessary did not never spoken to well for her, mistreat her. abuse He provided her or otherwise the decree saying fre The judge denied was becoming hysterics too a causing quent. that divorce Mrs. temporary Hull went adjournment into of In 25. court NEGAUNEE. Mich.. depredations Sept. in wholesale during the past Catholic censed at number cemeteries of Catholics with the armed au week, a in company searching for the are themelves thorities and The are damage $11,000. done Sunday Armed the guards brings marauders. the maintained total to nightly at 25cemeteries. SPRINGS. ninety Sept. hours being out in the After COLORADO the for case over for county viola the jury trying in Otto Fehringer laws, was discharge no morning tion court of the liquor There was reached. ed this an agreement being 25. This chance BUTTE of the Mont., business Sept. portion tremendous of this morning owing to a vestetrday city fire that is in swept ruins probably the town reach blocks a milloss will Two business lion over while are The totally and a half. destroyed. company alone The public lost Simmons lifinest Dry Goods the Butte struc$500,000. brary building, one is of reduced the to ashes. over tures in the city, the buildings and $600,000. The 1068 volumes on reach nearly are surrounded streets. The 100,000 blocks destroyed Barrett and Wood block are by Morgue, York. The Washington wreck and ward the Baltimore amount blocks of half a mil- of ed by fire to the The fire departments were called lion Missoula dollars. and Anaconda It is the worst fire upon for relief. of the city. Main the history 25 Receiver DENVER, Sept. Savings associa- court lone of the Fidelity in the district former tion filed Edwin suit M. defunct Johnson. concern. for president against of execution the against Johnson John$71,000 body. and He alleges the that association secured son's $71,000 deceit. from Henry by NEW fraud listening YORK, and reluctantly Sept. husband, 25 from Mrs. to one whom last ear Koch word from her pressed her the she the was speaking estranged, tube apartment leading house from in to of an this city, a second. and she muffled Later vestibule which she heard lived in a cry of report fear. found Hur back with a woman sprang rying husband down stairs lying the on the the head. vestibule Ten minutes dead. floor, her snot later through the doctor pronounced The Black him NEW YORK, seems Sept. to 25.- be continuing Gross Hand society. This morning Irene was found its work. 16 years, hall a insensibility was the cul. clubbed man. into girl of The attack in the entries her home. of nightly mination frighten of in the Grossman was of a series intended private payment to residence of which enforce the attack. them and immunity from Many persons money CHICAGO for Sept. perhans 25.- fatally when four vote hurt

5. September 29, 1905 The Ely Miner Ely, MN
Article from The Ely Miner, September 29, 1905

Click image to open full size in new tab

Article Text

BANK FAILS. Institution in Kansas City Goes into Voluntary Liquidation-The Cause. Kansas City, Mo., Sept. 26.-The Kansas City state bank, Wiley O. Cox, president, failed to open its doors Monday, having gone into voluntary liquidation. The bank had loaned $168,000 to the bank of Salmon & Salmon at Clinton, Mo., which failed last July, catching depositors for several hundred thousand dollars. The Kansas City state bank was organized in 1888 and had a capital of $200,000. The last statement showed loans of $4,000,000; deposits, $4,750,000; surplus, $14,000. Ever since the failure of the Salmon & Salmon bank at Clinton, Mo., the bank's business has been on a decline. Many large depositors withdrew their accounts because of the fact that the bank had advanced the Salmons more than $200,000 on collateral that is now said by bankers to be gilt-edged. At that time the value of the collateral was problematical and timid depositors hastened to close their accounts. This caused a heavy drain on the resources of the bank, and in order to avert trouble, the officers of the institution decided upon liquidation as the casiest way out of a perplexing financial tangle. The Kansas City state bank holds $567,000 of the city's money. Wiley O. Cox, president of the Kansas City state bank, is one of the cldest and best-known men in Missouri. The Fidelity Trust company volunteered to pay the city treasury the amount of the city's funds on deposit in the Kansas City state bank. but the money was not withdrawn.

6. September 29, 1905 The Guthrie Daily Leader Guthrie, OK
Article from The Guthrie Daily Leader, September 29, 1905

Click image to open full size in new tab

Article Text

ONOR IN BANKING. SSAY dey O. Cox has not lost any Viends by his attitude in the failure of the Kansas City State bank. His numerous friends throughout the west, while regretting that he was forced to place the institution in voluntary liquidation, will congratulate him on re tiring from the fight for commercial supremacy with an untaraished record for honest dealing. The contrast between the Cox way of doing business and some of his recent contemporaries in the banking business is brought the more prominently forward by the fact that one cause of the State bank's liquidation were bad loans aggregating $168,000, which had been taken from the Salmon bank in Clinton. Though Mr. Cox stated that the failure of his bank to increase its business during the past four years was a handican hich could not be overcome, the Clinton, Mo., hicident was the immediate cause of the suspension. Inability to progress in the face of difficulties may be praiseworthy even though in dollars and cents the gain is not apparent. Compared to the hypoerisy of a failure like that of Salmon, Bigelow and some of the other recent notorious cases of speculative fraud, liquidation is the honorable thing. It is a credit and not a shame. The disgrace is a the man who deceives his trusting patrons even while he is deceiving himself, The suspension of the Kansas City State bank will not go down as anything other than an honorable desire to quit before decep tion would have to be used to continue in business.

7. September 29, 1905 The Stark County Democrat Canton, OH
Article from The Stark County Democrat, September 29, 1905

Click image to open full size in new tab

Article Text

WITH $1,250,000 IN DEPOSITS KANSAS CITY BANK LIQUIDATES Result of the Failure of Another Bank. Usual Statement of Paying Depositors in Full, Kansas City, Mo., Sept. 25.-The Kansas City State bank, with deposits aggregating $1,250,000, went into voluntary liquidation today. The Fidelity Trust Co. is in charge of the bank's affairs, and is prepared to pay the amounts due depositors on demand. The liquidation of the affairs of the Kansas City State bank is an echo of the Salmon & Salmon bank failure at Clinton, Mo., a couple of months ago. Ever since the failure of the Salmon & Salmon bank the business of the Kansas City State bank has been on a decline. Many large depositors withdrew their accounts because of the fact that the bank had advanced the Silmo is more tha 1 $200,000 on colla+eral that is now said by bankers to be gilt edge. At that time the value of the collateral was problematical, and timid depositors hastened to close their accounts. This caused a heavy drain on the resources of the bank, and in order to avert trouble the officers of the institution decided upon liquidation as the easiest way out of a perplexing financial tangle. No financial statement will be given to the public, such a procedure being deemed unnecessary, insomuch as the business of the defunct bank has been transferred to the Fidelity Trust Co., which will conduct its affairs as it does its own, paying all depositors in full. There were no runs or heavy withdrawals from any of the other banking institutions today, and no runs are expected.

8. September 30, 1905 The Irish Standard Minneapolis, Saint Paul, MN
Article from The Irish Standard, September 30, 1905

Click image to open full size in new tab

Article Text

BANK FAILS. Institution in Kansas City Goes into Voluntary Liquidation-The Cause. Kansas City, Mo., Sept. 26.-The Kansas City state bank, Wiley O. Cox, president, failed to open its doors Monday, having gone into voluntary liquidation. The bank had loaned $168,000 to the bank of Salmon & Salmon at Clinton, Mo., which failed last July, catching depositors for several hundred thousand dollars. The Kansas City state bank was organized in 1888 and had a capital of $200,000. The last statement showed loans of $4,000,000; deposits, $4.750,000; surplus, $14.000. Ever since the failure of the Salmon & Salmon bank at Clinton, Mo., the bank's business has been on a decline. Many large depositors withdrew their accounts because of the fact that the bank had advanced the Salmons more than $200,000 on collateral that is now said by bankers to be gilt-edged. At that time the value of the collateral was problematical and timid depositors hastened to close their accounts. This caused a heavy drain on the resources of the bank. and in order to avert trouble, the officers of the institution decided upon liquidation as the casiest way out of a perplexing financial tangle. The Kansas City state bank holds $567.000 of the city's money. Wiley O. Cox, president of the Kansas City state bank, is one of the cldest and best-known men' in Missouri. The Fidelity Trust company volunteered to pay the city treasury the amount of the city's funds on deposit in the Kansas City state bank. but the money was not withdrawn.

9. September 30, 1905 The Irish Standard Minneapolis, Saint Paul, MN
Article from The Irish Standard, September 30, 1905

Click image to open full size in new tab

Article Text

BANK FAILS. Institution in Kansas City Goes into Voluntary Liquidation-The Cause. Kansas City, Mo., Sept. 26.-The Kansas City state bank, Wiley O. Cox, president, failed to open its doors Monday, having gone into voluntary liquidation. The bank had loaned $168,000 to the bank of Salmon & Salmon at Clinton, Mo.. which failed last July, catching depositors for several hundred thousand dollars. The Kansas City state bank was organized in 1888 and had a capital of $200,000. The last statemest showed loans of $4,000,000; deposits, $4.750,000; surplus, $14.000. Ever since the failure of the Salmon & Salmon bank at Clinton, Mo., the bank's business has been on a decline. Many large depositors withdrew their accounts because of the fact that the bank had advanced the Salmons more than $200,000 on collateral that is now said by bankers to be gilt-edged. At that time the value of the collateral was problematical and timid depositors hastened to close their accounts. This caused a heavy drain on the resources of the bank. and in order to avert trouble, the officers of the institution decided upon liquidation as the casiest way out of a perplexing financial tangle. The Kansas City state bank holds $567.000 of the city's moncy. Wiley O. Cox, president of the Kansas City state bank, is one of the cldest and best-known men' in Missouri. The Fidelity Trust company volunteered to pay the city treasury the amount of the city's funds on deposit in the Kansas City state bank. but the money was not withdrawn.

10. October 5, 1905 Iron County Register Ironton, MO
Article from Iron County Register, October 5, 1905

Click image to open full size in new tab

Article Text

MADE A COMPLETE JOB OF IT Stockholders of the Wrecked Kansas City State Bank Don't Expect to Realize a Dollar. Kansas City, Mo., Oct. 3.-information relative to the affairs of the Kansas City State bank, which suspended operations a week ago, after its obligations had been assumed by the Fidelity Trust Co., at the instance of the clearinghouse association, is gradually finding its way to the public. It has become known that President Wiley O. Cox was indebted to the State bank in the sum of $115,000. This obligation was in the shape of a note, which has been carried as an asset of the bank for nearly ten years. Another note set aside by the clearinghouse committee was one for $55,000, signed by R. J. Smith, daughter of L. J. Smith, at one time in the contracting business with F. C. Adams, former cashier of the Kansas City State bank. It appears the bank is also heavily involved by reason of the failure of the Salmon & Salmon bank of Clinton. The capital stock of the bank was $200,000. None of the stockholders expects to recover a dollar.

11. October 5, 1905 The Cooperstown Courier Cooperstown, ND
Article from The Cooperstown Courier, October 5, 1905

Click image to open full size in new tab

Article Text

BANK FAILS. Institution in Kansas City Goes into Voluntary Liquidation-The Cause. Kansas City, Mo., Sept. 26.-The Kansas City state bank, Wiley O. Cox, president, failed to open its doors Monday, having gone into voluntary liquidation. The bank had loaned $168,000 to the bank of Salmon & Salmon at Clinton, Mo., which failed last July, catching depositors for several hundred thousand dollars. The Kansas City state bank was organized in 1888 and had a capital of $200,000. The last statement showed loans of $4,000,000: deposits, $4.750.000; surplus, $14,000. Ever since the failure of the Salmon & Salmon bank at Clinton, Mo., the bank's business has been on a decline. Many large depositors withdrew their accounts because of the fact that the bank had advanced the Salmons more than $200,000 on collateral that is now said by bankers to be gilt-edged. At that time the value of the collateral was problematical and timid depositors hastened to close their accounts. This caused a heavy drain on the resources of the bank, and in order to avert trouble, the officers of the institution decided upon liquidation as the casiest way out of a perplexing financial tangle. The Kansas City state bank holds $567.000 of the city's money. Wiley O. Cox, president of the Kansas City state bank. is one of the cldest and best-known men in Missouri. The Fidelity Trust company volunteered to pay the city treasury the amount of the city's funds on deposit in the Kansas City state bank. but the money was not withdrawn.

12. October 6, 1905 The Forrest City Times Forrest City, AR
Article from The Forrest City Times, October 6, 1905

Click image to open full size in new tab

Article Text

MADE A COMPLETE JOR OF IT Stockholders of the Wrecked Kansas City State Bank Don't Expeet to Realize a Dollar. Kansas City, Mo., Oct. 3.-information relative to the affairs of the Kansas City State bank, which suspended operations a week ago, after its obligations had been assumed by the Fidelity Trust Co., at the instance of the clearinghouse association, is gradually finding its way to the public. It has become known that President Wiley O. Cox was indebted to the State bank in the sum of $115,000. This obligation was in the shape of a note, which has been carried as an asset of the bank for nearly ten years. Another note set aside by the clearinghouse committee was one for $55,000, signed by R. J. Smith, daughter of L. J. Smith, at one time in the contracting business with F. C. Adams, former cashier of the Kansas City State bank. It appears the bank is also heavily involved by reason of the failure of the Salmon & Salmon bank of Clinton. The capital stock of the bank was $200,000. None of the stockholders expects to recover a dollar.

13. October 6, 1905 Morgan County Democrat Versailles, MO
Article from Morgan County Democrat, October 6, 1905

Click image to open full size in new tab

Article Text

MADE A COMPLETE JOB OF IT Stockholders of the Wrecked KanBON City State Bank Don't Expect to Realize n Dollar. Kansas City, Mo., Oct. 3.-information relative to the affairs of the Kansas City State bank, which suspended acmerations a week ago, after its obligaTexashad been assumed by the Fidelity kwood Co., at the instance of the clearuntimouse association, is gradually finding its way to the public. It has become known that President Wiley O. Cox was indebted to the State bank in the sum of $115,000. This obligation was in the shape of a note, which has been carried as an asset of bank for nearly ten years. Another note set aside by the clearinghouse committee was one for $55,000, signed by R. J. Smith, daughter of L. J. Smith, at one time in the contracting business with F. C. Adams, former cashier of the Kansas City State bank. It appears the bank is also heavily involved by reason of the failure of the Salmon & Salmon bank of Clinton. The capital stock of the bank was $200,000. None of the stockholders expects to recover a dollar.

14. October 7, 1905 The Grenada Sentinel Grenada, MS
Article from The Grenada Sentinel, October 7, 1905

Click image to open full size in new tab

Article Text

MADE A COMPLETE JOB OF IT Stockholders of the Wrecked Kansas City State Bank Don't Expect to Realize a Dollar. Kansas City, Mo., Oct. 3.-information relative to the affairs of the Kansas City State bank, which suspended operations a week ago, after its obligations had been assumed by. the Fidelity Trust Co., at the instance of the clearinghouse association, is gradually finding its way to the public. It has become known that President Wiley O. Cox was indebted to the State bank in the sum of $115,000. This obligation was in the shape of a note, which has been carried as an asset of the bank for nearly ten years. Another note set aside by the clearinghouse committee was one for $55,000, signed by R. J. Smith, daughter of L. J. Smith, at one time in the contracting business with F. C. Adams, former cashier of the Kansas City State bank. It appears the bank is also heavily involved by reason of the failure of the Salmon & Salmon bank of Clinton. The capital stock of the bank was $200,000. None of the stockholders expects to recover a dollar.

15. October 13, 1905 The Tupelo Journal Tupelo, MS
Article from The Tupelo Journal, October 13, 1905

Click image to open full size in new tab

Article Text

MADE A COMPLETE JOB OF IT Stockholders of the Wrecked Kansas City State Bank Don't Expect to Realize a Dollar. Kansas City, Mo., Oct. 3.-Information relative to the affairs of the Kansas City State bank, which suspended operations a week ago, after its obligations had been assumed by the Fidelity Trust Co., at the instance of the clearinghouse association, is gradually finding its way to the public. It has become known that President Wiley O. Cox was indebted to the State bank in the sum of $115,000. This obligation was in the shape of a note, which has been carried as an asset of the bank for nearly ten years. Another note set aside by the clearinghouse committee was one for $55,000, signed by R. J. Smith, daughter of L. J. Smith, at one time in the contracting business with F. C. Adams, former cashier of the Kansas City State bank. It appears the bank is also heavily involved by reason of the failure of the Salmon & Salmon bank of Clinton. The capital stock of the bank was $200,000. None of the stockholders expects to recover a dollar.

16. November 23, 1905 The Rich Hill Tribune Rich Hill, MO
Article from The Rich Hill Tribune, November 23, 1905

Click image to open full size in new tab

Article Text

HE ASKS FOR $310,000.39 SEGURITIES KANSAS CITY.-John B. Egger, receiver of the defunct bank of Salmon & Salmon, at Olinton, Mo., has filed suit in the Jackson county circut court against the Fidelity Trust Company, of this city, for $810,903.39. In the petition it is asserted that this amount of the assets of the Salmon bank were transferred to the Kansas City State bank for the purpose of making that institution a preferred creditor and that these assets should be returned to the receiver for equal distribution among all the creditors of the failed bank. The Fidelity Trust Company is made the defendant in the suit by reason of the fact that It succeeded to the assets of the Kansas City State bank when that institution went into voluntary Hquidation.