Western Farmers Mortgage Company (Lawrence, KS)

Episode Information

Episode UID
7654011791106
Episode Type
Suspension → Closure
Bank Type
private
Bank ID
765401179 hash
Start Date
February 6, 1892
Location
Lawrence, Kansas (38.972, -95.235)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
c505a7ddbe2ebd42

Response Measures

None

Description

Receivers were appointed in Colorado and Kansas in early 1892 and the company remained in receivership with subsequent litigation.

Events (7)
1. February 6, 1892 Receivership
Newspaper Excerpt
The District Court this afternoon appointed G. W. E. Griffith receiver for the Western Farm Mortgage and Trust Company.
Source
newspapers
2. February 6, 1892 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Attachments and execution for debt; company became embarrassed and unable to meet obligations.
Newspaper Excerpt
The Western Farm Mortgage and Trust Company, which became embarrassed at Denver, ... Sheriff received an execution against the company for $25,000
Source
newspapers
3. March 7, 1892 Receivership
Newspaper Excerpt
On application of the eastern stockholders Judge Benson has appointed Hon. Edward Russell... receiver of the Western Farm Mortgage Co.
Source
newspapers
4. March 7, 1892 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Stockholder suit and financial embarrassment led to receiver appointment in Kansas.
Newspaper Excerpt
A committee of the stockholders... agreed on Edward Russell as receiver. The stockholders believe the assets... will pay all its liabilities
Source
newspapers
5. October 9, 1893 Other
Newspaper Excerpt
The assets and securities of the home debenture department ... which went into the hands of the receivers in February, 1892, ... have been transferred from Denver to Lawrence.
Source
newspapers
6. September 4, 1895 Other
Newspaper Excerpt
A suit for $41,000 was begun ... against the Western Farm Mortgage Trust company of Lawrence. The suit is to recover on guaranteed paper ... It is in the hands of a receiver.
Source
newspapers
7. December 5, 1896 Other
Newspaper Excerpt
The suits are brought by the National Bank of Commerce of Kansas City against twenty New York stockholders of the Western Farm Mortgage Trust company of Lawrence, Kan., which failed in the Kansas panic some years ago.
Source
newspapers

Newspaper Articles (10)
1. February 7, 1892 The Morning Call San Francisco, CA
Article from The Morning Call, February 7, 1892

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Article Text

RESTRAINING ORDER. Receivers Appointed for the Western Farm Mortgage and Trust Company. LAWRENCE (Kans.) Feb. 6.-Judge Shaw of Leavenworth, attorney for Abraham S. Brewer, and Charles Biddle of Pennsylvania and other stockholders, filed a suit in the District Court to-day against the Westein Farm Mortgage and Trust Company and the American Real-estate Trust Company of Denver, asking that they be restrained from disposing of their assets. The petition alleges that the officers of the various companies are manipulating business to the disadvantage of the stockholders. A temporary restraining order was issued by the court. This suit is brought In view of attachments sued| out against the Western Farm Mortgage Company at Denver yesterday. DENVER, Feb. -The District Court this afternoon appointed G. W. E. Griffith receiver for the Western Farm Mortgage and Trust Company. The officers of the company say the embarrassment is only temporary. NEW YORK, Feb. 6. - -The Western Farm Mortgage and Trust Company, which became embarrassed at Denver, has an office at 40 Wall street, in this city, where William T. Pratt has acted as manager for several years past. A few days ago the Sheriff received an execution against the company for $25,000 in favor of the Western National Bank on promissory notes of the San Luis Land and Water Company, which the trust company indorsed. When a Deputy Sheriff went to make the levy Pratt declared that the trust company had no property whatever in New York County, and that the office furniture and fixtures belonged to him, 80 there was nothing to attach. Eastern stockholders have been clamorous for some time past, as the dividends were passed lastyear, but the officials declared that they had changed the plan of paying interest and would not pay it until the interest on the mortgages had been collected. Last fall the company issued a statement of condition on June 30, 1891, which claims assets of $4,273,333 and liabilities of $2,539,817, exclusive of capital stock, $1,500,000, and/surplus and undivided profits of $233,821. The largest liabilities were $1,402,966 for debentures certified, $546,111 on bills payable and $3,796,078 on undivided deposits. The assets included real estate securities of $1,479,833, mortgages deposited as security for debentures. $1,726,328, and municipal and other stocks and bonds amounting to $608,974.

2. March 6, 1892 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, March 6, 1892

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Article Text

FAILURES. L AWRENCE, Kan. March 5-The affairs of the Western Farm Mortgage and Trust company were before the district court today A committee of the stockholders were present and all parties agreed on Kiward Russell as receiver The stockholders believe that the assets of the company, If prudently managed, will pay all its liabliitles, and to that end will soon call a meet ing of all parties interested in the east. The committee hope to raise sufficient money NOOD to meet the present calls on the compasy, and so to take it out of the hands of the receiver and protect the interest of all parties.

3. March 10, 1892 Abilene Weekly Reflector Abilene, KS
Article from Abilene Weekly Reflector, March 10, 1892

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Article Text

A Receiver Appointed. LAWRENCE, Kan., March 7.-On application of the eastern stockholders Judge Benson has appointed Hon. Edward Russeil, of this city, receiver of the Western Farm Mortgage and Trust Co. Mr. Russell will take charge of the affairs of the company in Kansas, a receiver having already been appointed for Colorado.

4. March 11, 1892 Arizona Republican Phoenix, AZ
Article from Arizona Republican, March 11, 1892

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Article Text

The Western Mortgage Company. LAWRENCE, Kan., March 10.-The affairs of the Western Farm Mortgage Trust company were before court today. A committee of stockholders were present and all parties agreed on Edward Russell as receiver. The stockholders believe the assets of the company if prudently managed will pay all its liabilities and to that end will soon call a meeting of all parties interested in the east. The committee will raise sufficiant money soon to meet the present calls on the company, and so take it out of the hands of the receiver and protect the interest of all parties.

5. March 11, 1892 The Iola Register Iola, KS
Article from The Iola Register, March 11, 1892

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Article Text

A Receiver Appointed. LAWRENCE, Kan., March 7.-On application of the eastern stockholders Judge Benson has appointed Hon. Edward Russell, of this city, receiver of the Western Farm Mortgage and Trust Co. Mr. Russell will take charge of the affairs of the compa y in Kansas, a receiver having already been appointed for Colorado.

6. October 9, 1893 The Providence News Providence, RI
Article from The Providence News, October 9, 1893

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Article Text

TRANSFERRED THE ASSETS. Western Farm Mortgage Trust Co. Money Taken to Lawrence, Kan. LAWRENCE, Kan., Oct. 9.-The assets and securities of the home debenture department of the Western farm mortgage trust company, which went into the hands of the receivers in February, 1892, involving so many eastern ereditors' have been transferred from Denver to Lawrence. G. N. E. Griffith, the receiver of the company has resigned the trusteeship of these securities and M.G. Manley of this city has been elected to succeed him. The securities transferred from Denver to Lawrence amount to several hundred thousand dollars.

7. September 4, 1895 The Advocate Topeka, KS
Article from The Advocate, September 4, 1895

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Article Text

A suit for $41,000 was begun in the federal court Saturday against the Western Farm Mortgage Trust company of Lawrence. The suit is to recover on guaranteed paper and the petition is a very large one there being 150 close written pages of type writing setting forth 218 separate causes of action. This company had a capital of 11/2 million dollars and guaranteed loans in the amount of 9 million dollars. It is in the hands of a receiver. R. D. McCliman, of Goffs, who was a populist member of the house in 1893, was in the city Saturday. His report of political conditions in Nemaha county is very satisfactory. He says that he never saw such good corn 88 there is along the Rock Island line through Jackson and Nemaha. It is all good and seems to be one continuous field all of the way.

8. December 5, 1896 The Wichita Daily Eagle Wichita, KS
Article from The Wichita Daily Eagle, December 5, 1896

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Article Text

New York, Dec. 4.-The World tomorrow will say: A test case has been brought in each of the several federal courts of New York state to establish the liabilities of non-resident stockholders in Kansas corporations for the debts of such corporations. The law of Kansas provides that stockholders shall be responsible to the amount of their stock, and it remains to be seen if this obligation within the state of Kansas can be made binding upon those resident in other states. The amount involved in the present suits is only $80,000, but the ultimate results of the actions will determine the ownership of many millions in New York state alone, and more or less in all the eastern states. The suits are brought by the National Bank of Commerce, of Kansas City, against twenty New York stockholders of the Western Farm Mortgage Trust company, of Lawrence, Kan., which failed in the Kansas panic some years ago. Among the twenty or thirty persons sued in this vicinity are Louis Hernsheim, for $44,000; and the J. R. Andrienne estate of Poughkeepsie, for $13,000.

9. December 5, 1896 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, December 5, 1896

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Article Text

# TO TEST KANSAS LAWS. Cases Brought in Several Federal Courts of New York. New York, Dec. 5. -The World this morning says: A test case has been brought in each of the several federal courts of New York to test the liabilities of non-resident stockholders in Kansas corporations for debts of such corporations. The law of Kansas provides that stockholders shall be responsible to the amount of their stock, and it remains to be seen of this obligation within the state can be made binding upon those resident in other states. The amount involved in the present suits is nearly $80,000, but the ultimate results of the actions will determine the ownership of many millions in New York state alone, and more or less in all the eastern states. The suits are brought by the National Bank of Commerce of Kansas City against 20 New York stockholders of the Western Farm Mortgage Trust company of Lawrence, Kan., which failed in the Kansas panic some years ago. Among the 20 or 30 persons sued in this vicinity are Louis Hernsheim for $44,000, and the J. R. Andrienne estate of Poughkeepsie for $13,000.

10. December 5, 1896 Omaha Daily Bee Omaha, NE
Article from Omaha Daily Bee, December 5, 1896

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Article Text

# SUING KANSAS STOCKHOLDERS. Tests in New York as to the Liabilities of Nonresidents. NEW YORK, Dec. 4.-The World tomorrow will say: A test case has been brought in each of the several federal courts of New York state to establish the liabilities of non-resident stockholders in Kansas corporations for the debts of such corporations. The law of Kansas provides that stockholders shall be responsible to the amount of their stock and it remains to be seen if this obligation within the state of Kansas can be made binding upon those resident in other states. The amount involved in the present suits is only $80,000, but the ultimate results of the actions will determine the ownership of many millions in New York state alone and more or less in all the eastern states. The suits are brought by the National Bank of Commerce of Kansas City against twenty New York stockholders of the Western Farm Mortgage Trust company of Lawrence, Kan., which failed in the Kansas panic some years ago. Among the twenty or thirty persons sued in this vicinity are Louis Hernsheim for $44,000 and the J. B. Andrienne estate of Poughkeepsie for $13,000.