Other: Closed pending action of stockholders; Comptroller ordered examiner to investigate (article 1).
Receivership Details
Date receivership started
1914-01-12
Date receivership terminated
1914-01-26
OCC cause of failure
Run
Description
Multiple contemporaneous reports (dated Jan 10, 1914) state a small run occurred and the bank failed to open on Jan 10, 1914, being closed pending action of stockholders after the sudden death of the cashier and heavy stockholder Brown Cowley/Crowley. No article reports a reopening or receivership, so outcome is uncertain.
Events (5)
1.September 15, 1905Chartered
Source
historical_nic
2.January 9, 1914Run
Cause
Bank Specific Adverse Info
Cause Details
Sudden death of the cashier and heavy stockholder (Brown Cowley/Crowley) prompted a flurry and a small run.
Measures
None reported specifically as anti-run measures; subsequent action was to close pending stockholders' meeting.
Newspaper Excerpt
There was a small run on the bank yesterday.
Source
newspapers
3.January 10, 1914Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank failed to open following the small run and the death of the cashier/heavy stockholder; directors closed the bank pending stockholders' action.
Newspaper Excerpt
The Marion National bank failed to open today and it was announced the institution would be closed pending action by the stockholders.
Source
newspapers
4.January 12, 1914Receivership
Source
historical_nic
5.January 26, 1914Restored To Solvency
Source
historical_nic
Newspaper Articles (10)
1.January 10, 1914The Topeka State JournalTopeka, KS
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Article Text
BANK CLOSESDOOR Marion National Victim of a Run by Its Depositors. Death of Heaviest Stockholder Brings About Investigation. Marion, Kan., Jan. 10.-The Marion National bank failed to open for business today, pending action of the stockholders. Brown Cowley, the largest stockholder and the cashier, died suddenly last week. There was a flurry in money circles at Marion. yesterday and a small run resulted at the Marion National: It was established in 1905 and has a capital of $25,000. Following Acting Comptroller Kane of the currency bureau has ordered National Bank Examiner J. P. Burns from Salina, Kan., to look into the closing of the Marion National bank. no report further than a telegram from the directors announcing the closing had been received here.
2.January 10, 1914Harrisburg TelegraphHarrisburg, PA
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Article Text
KANSAS BANK CLOSES Marion, Kan., Jan. 10.-The Marion National Bank failed to open to-day and it was announced the institution would be closed pending action by the stockholders. Brown Cowley, cashier and one of the heaviest stockholders, died last week. There was a small run on the bank yesterday. It has a capital of $125,000 and was established in 1905.
3.January 10, 1914The Fargo Forum and Daily RepublicanFargo, ND
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Article Text
Bank Closed Doors. Marion, Kans., Jan. 10.-The Marion National bank failed to open its doors. It was announced the institution would be closed pending action by the stockholders. Brown Cowley, the cashier and one of the heaviest stockholders, died last week. There was a small run yesterday. The bank has a capital of $125,000. It was established in 1905.
4.January 10, 1914Evening Times-RepublicanMarshalltown, IA
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Article Text
ANOTHER BANK FAILURE. Marion National of Marion, Kan., Fails to Open Doors. Marion, Kan., Jan. 10.-The Marion National Bank failed to open today and it was announced that the institution would be closed pending action of the stockholders. Brown Crowley, cashier, and one of the heaviest stockholders, died last week. There was a small run on the bank yesterday. It has a capital of $100,000 and was established in 1905.
SMALL RUN On a Kansas National Bank Causes It to Close Its Doors Today. (BY ASSOCIATED PRESS) MARION, Kan., Jan. 10.-The Marion National Bank failed to open today and it was announced the institution would be closed pending action by the stockholders. Brown Cowley, cashier, and one of the heaviest stockholders, died last week. There was a small run on the bank yesterday. It has a capital of $125,000 and was established in 1905.
6.January 10, 1914The Guthrie Daily LeaderGuthrie, OK
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Article Text
CASHIER DEAD: BANK IS CLOSED RUN ON KANSAS NATIONAL BANK CAUSES OFFICERS TO CLOSE DOORS Marion, Kas., Jan. 10-The Marion National bank failed to open its doors today, pending the action of the Brown stockholders. Cowley, the bank's cashier, and a heavy stockholder, died last week. There was a small run on the bank yesterday. The bank was established in 1905 and has a capital stock of twentyfive thousand dollars.
7.January 10, 1914The Fairmont West VirginianFairmont, WV
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Article Text
KANSAS BANK CLOSES. Death of Cashier Starts Small Run on Institution. MARION, Kansas, Jan. 10.-The Marion National Bank failed to open today and it was announced the institution would be closed pending ac+ tion by stockholders. Brown Cowley, cashier; and one of the heaviest stockholders, died last week. There was a small run on the bank yesterday. It had a capital of $125,000 and was established in 1905,
MARION BANK CLOSES PENDING NEW ACTION Marion, Kas., Jan. 10-The Marion National bank failed to open today and it was announced that the institution would be closed pending action by the stockholders. Brown Cowley, cashier and one of the heaviest stockholders, died last week. There was a small run on the bank yesterday. It has a capital of $125,000 and was established in 1905.
A KANSAS BANK IS IN TROUBLE BY ASSOCIATED PRESS. Marion, Kans., Jan. 10.-The Marion National bank failed to open today and it was announced the institution would be closed pending action by the stockholders. Brown Crowley, cashier, and one of the heaviest stockholders, died last week. There was a small run on the bank yesterday. It has a capital of $125,000 and was established in 1905.
KANSAS BANK CLOSED AFTER CASHIER'S DEATH Marion, Kan.-The Marion National Bank today failed to open its door. It is announced the institution will be closed pending action by the stock holders. Brown Cowley, cashier, one of heaviest stockholders, died last week. There was a small run yesterday. The capital is $125,000 and the bank was established in 1905.
