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Has a Credit Balance. New York, Oct. 28.-The Bankers' Trust company of Kansas City, Mo., has a credit balance with the Oriental bank, which is its New York correspondent. Cashier Adams of the Oriental bank said: "The Bankers' Trust has a moderate credit balance with the Oriental bank. The suspension can in no way affect the Oriental bank."
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OKLAHOMA BANKS CLOSE DOORS ON ORDER Oklahoma City, Okla., Oct. 28.Every bank in this city is closed today on orders of Acting Gov. Charles Filson and it is said that the order will be in effect for the rest of the' week. Bankers of the city are in session at the Chamber of Commerce. Order astounded bankers as there had been no uneasiness felt here, and all local banks are considered of strong financial condition. The people of the city and the rural districts have plenty of money Frantz Takes Precaution. Mr. Filson issued a proclamation closing banks of the territory for one week on demand of bankers. Action was taken because banks of Kansas City and St. Louis refused to forward cash to banks of the southwest. It is said that a consultation of bankers of Arkansas, Oklahoma, and northern Texas took place this morning over the telephone and that all have decided to act in accordance with the order issued by Acting Gov. Filson in Oklahoma. Closing is for purpose of protecting banks in case of run. KANSAS CITY BANK SUSPENDS BUSINESS. Kansas. City, Mo., Oct. 28.-The Bankers Trust company with deposits of $800,000. closed this morning. Cashier J. C. Hughes said that they had decided to close temporarily because clearing house association has refused to extend it the privilege granted thirty other leading banks here of association in issuing clearing house certificates. COMPANY WILL GO INTO LIQUIDATION The Bankers Trust Co. will go into liquidation. The concern has been planning liquidation for several weeks and under ordinary conditions would have been able to do so without loss to any one. Statement of condition at the close of business Saturday night shows loans and discounts $658,701; stocks and bonds $598,581; cash and sight exchange $114,547; deposits $798,245. There was but $8,000 cash on hand when the bank opened this morning.
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[By Associated Press.] KANSAS CITY, Mo., Oct. 28.The Bankers Trust Company with deposits of $800,000 has been closed temporarily because the clearing house association refused to extend them the privilege granted to other leading banks here of issuing clearing house certificates. There was no run on the institution and it as done to protect depositors.
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Kansas City Bank Suspends. KANSAS CITY, Oct. 28.-The Bankers' Trust company of Kansas City, with deposits of $800,000, closed this morning. Cashier Hughes said he decided to close temporarily because the Clearing House association refused to extend the privilege of clearing house certificates which thy had extended to 30 othr leading banks.
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BANKER MISSING RECEIVER NAMED KANSAS CITY, Oct. 28.-Following the disappearance of J. E. Brady, a receiver was today appointed for the Bankers' Trust Co., a Brady concern.
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KANSAS CITY TRUST CO. Kansas City, Oct. 28.-Following the disappearance of J. E. Brady, a receiver was today appointed for The Bankers Trust Company, a Brady concern.
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SMALL KANSAS CITY BANK SUSPENDS Kansas City, Mo., Oct. 28.-The Bankers Trust company, with deposits of $800,000, closed its doors at 10:15 today. Cashier J. C. Hughes said that the bank had decided to close temporarily because
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Methods Work Well. Kansas City, October 28.-Outside of the failure of the Bankers' Trust company, with deposits of $800,000, there was no real trouble here today. This bank was considered the weakest institution of its kind here, and its failure neither caused much surprise nor had no apparent effect upon the general situation. There were no runs or any of the banks here or in Kansas City, Kan., up to the closing of business today. The decision of the banks to restrict payments of currency caused but little embarrassment.
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KANSAS CITY TRUST COMPANY SUSPENDS Kansas City, Oct. 28.-Outside of the failure of the Barkers' Trust company with deposits of $800.000. there was no real trouble here today. This bank was considered the weakest institution of its kind here and its failare neither caused much surprise nor had any apparent effect on the general situation. No other banks were affected. There were no runs on any banks and the refusal to make payments of currency caused but little embarrassment. The Bankers' Trust company, with deposits of $800,000. closed this morning. Cashier J. C. Hughes said that
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sent here by Secretary of State Swanger. The bank closed upon the advice of Mr. Irwin and it will liquidate. He said the concern had been planning for several weeks to liquidate and under ordinary conditions it would have been able to do so. It developed that the St. Louis Clearing House association, as well as the Kansas City association, had refused to give even temporary aid. A statement of the condition of the Bankers' Trust company at the close of business Saturday night last showed: Loans and discounts, $658,701; stocks and bonds, $598,581; cash and sight exchange, $114,547; deposits, $798,245. There was but $8,000 cash hand when the bank opened this morning. NEW YORK, Oct. 8.-The Bankers Trust company has a cradit balance with the Oriental bank, which is its New York correspondent. Cashier Adams of the Oriental bank said: "The Bankers Trust has a moderate credit balance with the Oriental bank. The suspension can in no way affect the Oriental bank."
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Receiver Appointed. Kansas City, Oct. 29.-Following the disappearance of J. Ed Brady, a director, who has been missing since last Thursday, a receiver has been appointed for the Bankers' Trust Co. Brady, it is reported, became involved with the bank. The clearing house adopted the certificate plan.
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[By Associated Press.] KANSAS CITY, Mo., Oct. 28.The Bankers Trust Company with deposits of $800,000 has been closed temporarily because the clearing house association refused to. extend them the privilege granted to other leading banks here of issuing clearing house certificates. There was no run on the institution and It was done to protect depositors.
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BANKERS TRUST, IN KANSAS CITY, CLOSES Kansas City, Oct. 30.-No appearance of a run on any of the banking institutions was visible today and the leading bankers reiterate they have complete confidence in the situation, the clearance house having decided to issue certificates. That action was put into effect today. It applies to thirty of the principal local banks and trust companies. The Bankers' Trust company with deposits of $800,000 closed at 10:15 this morning. Cashier Hughes said it decided to close temporarily because the clearing house association refused to extend the privileges granted to thirty other leading banks here of issuing clearing house certificates.
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Receiver for Bankers' Trust. Kansas City, Nov. 1.-Thomas R. Marks, chairman of the Republican county committee, has been appointed receiver for the Bankers' Trust company, which closed its doors October 28, under instructions from Secretary of State Swanger, because the local clearing house would not give it the privilege granted other banks of issuing clearing house certificates. The indebtedness of the company, outside of the half million capital stock is $908,658. In the petition for receivership nothing is said about the assets. The local financial condition continues to show improvement.
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BANKERS TRUST, IN KANSAS CITY, CLOSES Kansas City, Det. 30.-No appearance of a run on any of the banking institutions was visible today and the leading bankers reiterate they have complete confidence in the situation, the clearance house having decided to issue certificates. That action was put into effeet today. It applies to thirty of the principal local banks and trust companies. The Bankers' Trust company with deposits of $800,000 closed at 10:15 this morning. Cashier Hughes said it decided to close temporarily because the clearing house association refused to extend the privileges granted to thirty other leading banks here of issuing clearing house certificates.
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RECEIVER FOR TRUST COMPANY. Kansas City, Mo., Oct. 31.-Thomas R. Marks, chairman of the Republican County Committee, has been appointed receiver for the Bankers' Trust Company, which closed on October 28 because the local clearing house would not give it the privilege of issuing clearing house certificates. The debt of the company outside of the $500,000 capital stock is $908,658. In the petition for receivership nothing is said about the assets. The local financial situation is improving.
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Receiver Appointed for Bank. Kansas City, October 31.-Thomas R. Marks, chairman of the republican county committee, was today appointed receiver for the Bankers' Trust company, which closed its doors October 28 under instructions from Secretary of State Swanger, because the local clearing house would not give it the privileges granted other banks of issuing clearing house certificates. The indebtedness of the company outside of the half million capital stock is $908,658. In the petition for receivership nothing is said about the assets.
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Three Kansas Banks Fail. Topeka, Kan., Nov. 5.-Bank Commissioner Royce announced Monday that three Kansas banks had been forced to close their doors owing to the failure of the Bankers' Trust Co., of Kansas City, Mo., on October 28. The banks are the Coyville state bank, of Coyville; the Garland state bank, of Garland, and the Citizens' state bank, of Mulberry, all small institutions, They had deposits with the Bankers' Trust Co. Receivers will be appointed. The Coyville bank had deposits of $10,000, the Garland bank $50,000 and the Mulberry bank $85,000.
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FIVE BANKS CLOSED. Failure of Trust Company Forces Three Kansas Suspensions. Topeka, Kan., Nov. 4.-J. W. Royce, Bank Commissioner, announced to-day that three Kansas banks had been forced to close their doors owing to the failure of the Bankers' Trust Company, of Kansas City, Mo., on October 28. The banks are the Coyville State Bank, Coyville; the Garland State Bank, Garland, and the Citizens' State Bank of Mulberry, all small institutions. They had deposits with the Bankers' Trust Company. Receivers will be appointed at once. The Coyville State Bank had deposits of $10,000. the Garland State Bank, $50,000. and the Citizens State Bank of Mulberry, $85,000. The National Bank of Commerce of St. Louis was the foreign correspondent of the Mulberry bank and the Mercantile Trust Company of New York was the correspondent of the Garland institution. The banks have been organized only a few years. Leetonía, Ohio, Nov. 4.-The First National Bank here failed to open to-day. A notice posted on the door states that the concern will liquidate its liabilities. C. N. Schmick, of Cleveland, is president of the bank, which has been in business twenty-two years. It was organized with a paid up capital of $100,000. Aurora, Ind., Nov. 4.-Owing to the money stringency the Aurora National Bank failed to open to-day. The bank was organized in 1883 with a capital of $50,000 and its deposits aggregated $165,000. No statement of the liabilities has been made.
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Slow Bank Collections. Kansas City, January 12.-Thomas R. Marks, receiver of the Bankers' Trust company, which failed October 28 last, with liabilities of $1,143,627, filed his first report in the circuit court here today. Mr. Marks does not attempt to suggest the value of the assets, but says their actual present value is problematical. Fully $500,000 of the bank's resources may be termed slow. The report shows that of the loans and discounts, placed at $658,700 on the day of the failure, $65,000 has been collected by the receiver.
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BANK'S RESOURCES ARE PROBLEMATICAL RECEIVER OF BANKERS' TRUST DOUBTFUL OF ASSETS, Kansas City, Jan. 11.-Thomas R. Marks, receiver of the Bankers' Trust company, which failed October 28 last with liabilities of $11,413,627, filed his first report in the circuit court here today. Mr. Marks does not attempt to suggest the value of the assets, but says their actual present value is problematical. Fully half a million dollars of the bank's resources may we termed slow. The report shows that of the loans and discounts of $658,700 on the day of the failure, $65,000 has been collected by the receiver.
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LEE SUES FOR $33,158. Receiver of the Garland Bank After a Bankers' Trust Company. Fort Scott, Kan., April 25.-H. A. Lee, receiver for the Garland State bank, of this county, has filed an intervening petition again T. R. Marks, receiver of the Bankers' Trust company of Kansas City, Mo., to recover notes and securities bearing a face value of $33,158.65. Mr. Lee alleges that the papers were mailed from the Garland bank to the Bankers' Trust company the morning the latter suspended payment, were received after the doors were closed and can by no right become the property of the Kansas City concern. The papers, it is understood, have never been listed in Received Mark's reports, Lee admits, and he claims he does not know what became of them. The Garland State bank failed early in the recent panic. Mr. Lee is trying to adjust the troubles incident to the failure and is serving as receiver gratis.
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department has been entirely self-supporting. The fund which had accumulated in this department during the ten years of the operation of the banking law was $3,638.61. During the four years just preceding the present incumbency nothing whatever was added to that fund. During the three and one-half years of Mr. Swanger's administration the fund has been increased to $8,330.56. Examinations of banks have been rigid, impartial and complete. The reports of the several examiners have been subjected to the most thorough scrutiny, and any violation of the banking laws, or the essential rules of good banking have been called to the attention of the bank without fear or favor and a strict compliance of the law required. During the present administration several banks have been closed, others that were unsafe required to liquidate; others have consolidated, making stronger institutions, and everything done that could be accomplished to place the banking business of the State upon an absolutely safe and stable basis. During Mr. Swanger's administration only four banks and trust companies he has closed resulted in loss to the depositors. One of these was the Middleton Bank at Waverly (resulting from a defaulting cashier), where the depositors will probably lose about 5 to 10 per cent of their deposits. Another is the Joplin Savings Bank, caused by the reckless investments of the president of the institution, where the depositors will lose a percentage of their deposits. Another is the Bankers Trust Company of Kansas City caused by the Brady failure. Reckless investments by the officers of the institution and a slump in their values caused by the panic will cause a loss to the depositors of about 57 per cent of their deposits. Last, but not least, the Salmon & Salmon Bank of Clinton. The most disastrous by far, the causes of the failure of which are well known to the people of the State. It has been the earnest effort of the present administration, whenever it was possible, to prevent receiverships for banks, and many thousands of dollars have been saved to depositors and stockholders by the efforts of Mr. Swanger to