Armourdale Bank (Kansas City, KS)

Episode Information

Episode UID
8147078391123
Episode Type
Suspension → Reopening
Bank Type
state
Bank ID
814707839 hash
Start Date
July 15, 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
9236ac17ba06895c

Response Measures

None

Events (2)
1. July 15, 1893 Suspension
Cause
Local Banks
Cause Details
Suspension occurred amid a local panic triggered by the failure/suspension of other Kansas City banks (National Bank of Kansas City and Northrup) and heavy withdrawals in the city
Newspaper Excerpt
The Armourdale (Kan.) bank at No. 416 avenue suspended Kansas payment at 3 o'clock this afternoon and was placed in the hands of Bank Commissioner Breidenthal
Source
newspapers
2. August 15, 1893 Reopening
Newspaper Excerpt
The Armourdale bank, which suspended business a month ago, today resumed business.
Source
newspapers

Newspaper Articles (14)
1. July 16, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, July 16, 1893

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The Daily Record or nanea Failures. LONDON, July 15.-The failure is announced today of Ernest M. E. Fresson, stock and share broker of No. 2 Austin Friars. KANSAS CITY, July 15.-There was a quiet run on the National Bank of Commerce as soon as that concern opened for business this morning. In a statement made yesterday the condition of the bank was shown to be good, and the officers assert they will be able to withstand a long run, which, however, they think will not be necessary. Their statement sh JWS cash on hand $1,141.655, with deposits of $2,977,327, showing more than the 25 per cent reserve law. are talized required at by $2,000,000. They But thought little excite- capi- the ment and it is bank as the bank with the will ranks prevails, pull through strongest. all right, a The directors of the bank held meeting to consider the financial situation yesterday. After very carefully examining into the condition of the bank the members of the directorate signed an agreement individually pledging their entire estates for the security of depositors. There was not a member of who that made him enpaper the board hesitated liable held to for sign by the the the tire amount of deposits bank, SO great was their confidence in its stability. The directorate represents a combined wealth of 82,000,000. KANSAS CITY, July 15.--Bank ExG. W. Galbreath took of the aminer charge suspended which this suspended morning Kansas City National bank, yesterday. CARMI. III., July 15.-The private bank of Hay & Webb, of this place, has made an assignment. The assets are about $215,000 and liabilities about $180,000. At the meeting of the creditors of the insolvent bank held last night, a series of resolutions was adopted, placing the affairs of the bank in the hands of J. R. Webb and a committee of three creditors, Leonard Pyle, James MeClintock and George Clark, to wind up the business. The general opinion is that the creditors will be paid in full. NEW YORK, July 15.-Two hundred thousand ounces of silver were shipped to Europe today on the New York. KANSAS CITY, July 5.-The NorthBanking company closed its doors rup this morning and voluntarily placed itself in charge of State Bank Commissioner Breidenthal. J.S. Chick, president of the National Bank of Kansas City. which suspended yesterday, is also of the Northrup Banking and that fact a on bank this company. president the latter morning. caused run While the of the bank seems fairly officers of the not their assets good, condition to the jeopardize bank by did meetand at 10 The bank has a care ing bank's the doors. run, o'clock surplus closed paid-up the capital of $100,000, with a of Its assets are its liabilities $315,000. It is de$50,000. will $475,000 ultimately believed and be positors and creditors paid in full. The Armourdale (Kan.) bank at No. avenue. susat 3 416 pended Kansas payment Armourdale, o'clock the this hands of afternoon and was placed in Bank Commissioner Breidenthal, of Kansas. The liabilities are $35,000, and the about double consist largely of They assets Seneca, that real amount. estate Kan., security. J. E. Taylor, of was president. The bank had a capital stock of $30,000, and a surplus of $4,500. Thirty days ago it had $55,000 of deposits, but that amount ha4 been reduced one-half. The officers believe the depositors will be paid in full. CINCINNATI, July 15.-Two receivers were appointed for the John Kauffman brewery Saturday morning. The application was made by Mrs. Mary Kauffman, widow of the late John Kauffman, to Judge Wilson. She owned 16,000 shares of the stock. Notes amounting to $60,000 will fall due in August. Owing to the stringency of the money market the company could not realize money to meet them. They claim the assets amount to $600,000, and liabilities to $150,000. Attorney Frank Sheffer and Brewery Manager Emile Schmitt were appoiuted receivers. An effort will be made to effect a settlement, and continue business. CHICAGO, July 15. -The Ladlow Shoe company made an assignment this afternoon. CHICAGO, July 15.-The Boston Foundry company assigned today. Assets $175,000, liabilities $200,000. NEW YORK, July 15.-Will Abeles, manufacturing furrier, made an assignent-today to George Fragner without preference. PEORIA, III., July 15.-The private house of at 1 closed banking its doors William o'clock Oberhouser this afternoon. It was one of the oldest estab-

2. July 17, 1893 The Morning News Savannah, GA
Article from The Morning News, July 17, 1893

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A Kansas Bank Fails. Kansas City, Mo., July-16.-The Armourdale Bank of Armourdale, Kan. suspended payment yesterday and was placed in the hands of Bank Commissioner Dreidenthal of Kansas. The liabilities are $35,000 and the assets double that amount.

3. July 20, 1893 The Worthington Advance Worthington, MN
Article from The Worthington Advance, July 20, 1893

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CORELY TRIED. adidas City Banks Forced to Stand Heavy Rea-All Demands Promptly Met, However at Other rolate KANSAS City, a. July 10.-Saturday was a trying lay e the banks of Kansas City but they we hered the storm admirably. The failure of the National bank of Kansas City dive minutes before closing time Friday created a very panicky feeling and all the bankers opened their doors Saturday morning expecting "runs" of more or less consequence. The publication of he.statements of all the banks in the morning papers was calculated to restore confidence. The banks were prepared as well as could be to withstand any attack and as soon as the doors of the Bank of Commerce, the Missouri national, the Metropolitan, the Union natinal and the Midland were thrown open the people began to collect about them and many drew out their deposits. Only, however, in the Bank of Commerce, the Missouri and the Metropolitan were there any well-defined runs, and these banks withstood them successfully. A run by heavy depositors caused the suspension of the Northrup bank, the oldest financial institution in Kansas City, Kan. The assets are placed at $475,000, with liabilities amounting to $315,000. The Armourdale bank at 415 Kansas avenue, Armourdale, suspended payment at 3 o'clock in the afternoon and was placed in the hands of Bank Commissioner Breidenthal of Kansas. The liabilities are $35,000 and the assets about double that amount

4. July 21, 1893 Griggs Courier Cooperstown, ND
Article from Griggs Courier, July 21, 1893

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SORELY TRIED. Kansas City Banks Forced to Stand Heavy Run-All Demands Promptly However-Business Troubles at Other Points. KANSAS CITY, Mo., July 16.-Saturday was a of the storm the Kansas admirably. City trying but day they The for weathered failure the banks of rive minutes created a and the National very before panicky bank closing of feeling Kansas time Friday City all bankers opened their doors Saturday morning expecting "runs" of more or less consequence. The publication of the statements of all the banks in the morning papers was calculated to restore confidence. The banks were prepared as well as could be to withstand any attack and as soon as the doors of the Bank of Commerce, the Missouri national, the Metropolitan, the Union national and the Midland were thrown open the people began to collect about them and many drew out their deposits. Only, however, in the Bank of Commerce, the Missouri and the Metropolitan were there any well-defined runs, and these banks withstood them successfully. A run by heavy depositors caused the suspension of the Northrup bank, the oldest financial institution in Kansas City, Kan. The assets are placed at $475,000, with liabilities amounting to $315,000. The Armourdale bank at 415 Kansas avenue, Armourdale, suspended payment at 3 o'clock in the afternoon and was placed in the hands of Bank Commissioner Breidenthal of Kansas. The liabilities are $35,000 and the assets about double that amount. A number of the Kansas City banks kept open until' 6 o'clock, but very few of the depositors availed themselves of the opportunity to withdraw their money. The banks are amply prepared to meet any further demands made upon them, but it is thought that the flurry is over and the excitement ended. CLEVELAND, o., July 17.-A dispatch from Ishpeming, Mich., says that the Schleisinger syndicate, the largest ore operators in the world, are in difficulty owing to the depression in the trade. Adolf Schleisinger, one of the organizers of the syndicate, says the output was reduced 25 per cent. some time ago. All the mines are and central owned fice in is Michigan by in the Milwaukee. syndicate the The are: plants The ofBuffalo pany, Mining Chapin Mining Arogan company, company, York Mining Mining the company, comand were Claire ual Lode companies, Mining Mining company. all company owning These mines, Sunday individconsolidated four years ago by Schleisinger Brothers, and. it is said, on insufficient capital. It is also said the syndicate went too deeply into railroad building. Schlesinger's properties have over $1,000,000 worth of paper held by Milwaukee banks, and it is considered probable they will help him out. Schlesinger began operations four years ago and has cut a large figure in the iron trade. He was embarrassed ten years ago, but sold the Escanaba, Iron Mountain & Western railway to the Chicago & Northwestern railway and pulled out of difficulties. If matters cannot be fixed here it will probably lead to trouble at his numerous other mines, employing nearly 2,500 men all told. PEORIA. Ill., July 19.-William Oberhauser's private bank failed Saturday, much to the surprise of the community. The liabilities are $60,422. against scheduled assets of $69,637. The assignment is due to the loss of money in the American national bank at Kansas City, and it is the first to be made here during the present financial troubles. The bank was an old-established institution. Charles Tehrmaun is assignee. CARMI, Ili., July 17.-The old banking-house of Hay & Webb has made a general assignment to P. A. Pearce. Assets, $216,267; liabilities, $180,000. Hay & Webb have been in business here for thirty-five years and enjoyed the confidence of the entire community. Large loans on long time, large sums invested in real estate and the stringency of the money market caused the failure. All creditors will be paid in full. CHICAGO, July 17.-The George W. Ludlow Shoe company made an assignment in connection with its failure at Elgin. This is one of the largest wholeale shoe concerns in the country. It removed its factory and offices from Chicago to Elgin January 1 last and since that time has conducted its business in the latter city. No financial statement has been made. NEW YORK, July 17.-Chancellor MeGill at Jersey City has appointed John Paul, of Plainfield, N. J., receiver of the Garwood steel works. The company was originally a Boston concern. The works are at Garwood, N. Y., and $300,000 has been lost in following a new process in making steel car wheels CHICAGO, July 7.-The Bouton Foundry company, located at Thirty-ninth street and Evans avenue, made an ascourt in signment favor of in the the Equitable county Trust Saturday company. The assets are figured at $175,000; went into liabilities Kauffman CINCINNATI, at Brewing $200,000. July company 17. The John the hands of a receiver Saturday.

5. July 21, 1893 The Globe-Republican Dodge City, KS
Article from The Globe-Republican, July 21, 1893

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BANK FAILURES. Several Kansas City Banks Forced to the Wall. KANSAS CITY, Mo., July 14.-The Bank of Kansas City (Chick's bank) suspended yesterday. placing its affairs in the hands of the comptroller. This was probably the largest bank in' the city. The assets, President J. S Chick said. will be between $2,000,000 and $3,000,000 and the liabilities between $800.000 and $1,000,000. He is confident that the depositors will be paid dollar for dollar. It has a capital stock of $1,000,000. At its last statement on May 4 it had a surplus fund of $200,000 and undivided profits of $24,660.24. Its circulation in national bank notes was $45,000, which was secured by $50,000- in United States bonds. It has outstanding loans of about 3½ million dollars. KANSAS CITY, Mo., July 18.-Twenty minutes before noon to-day the Missouri national bank suspended payment, closed its doors and sent for Bank Examiner Galbreath. The comptroller of the currency at Washington was immediately notified. The bank'sassets are $1,254,785.50 and the liabilities outside of its capital stock about $700,000. The Bank of Grand avenue, which carried on business at 1401 Grand ave nue, closed its doors at 9:40 o'clock this morning, assets $200,000, liabilities about $140,000. The bank claims to have funds tied up by the failure of the Bank of Kansas City, which occurred Friday. THE NORTHRUP BANK. KANSAS CITY, Kan., July 17.-The Northrup bank, one of the oldest in the city, closed Saturday. The liabilities are about $315,000; assets about $450,000. The Armourdale bank suspended, but later statements say that it will resume.

6. July 22, 1893 Perrysburg Journal Perrysburg, OH
Article from Perrysburg Journal, July 22, 1893

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SORELY TRIED. . City *anks Forced to Stand y Rur - Demands Promptly Troublis *** SAS CITY, Mo., July 16.-Satu as a trying day for the banks is City but they weathered admirably. The failure of nal bank of Kansas City rive efore closing time Friday creat y panicky feeling and all rs opened their doors morning expecting ore or less consequence. cation of the statements of all $ in the morning papers was to restore confidence. The ban prepared as well as could be tand any attack and as soon ors of the Bank of Commer Missouri national, the tan, the Union national and nd were thrown open the 1 to collect about them and out their deposits. Only, in the Bank of Commerce, uri and the Metropolitan any well-defined runs, and 8 withstood them successfully. un by heavy depositors caused nsion of the Northrup bank, t financial institution in Kan. The assets are placed 00. 00, with liabilities amounting e Armourdale bank at 415 e, Armourdale, suspended at 3 o'clock in the afternoon laced in the hands of Bank oner Breidenthal of Kansas. ities are $35,000 and the t double that amount. umber of the Kansas City open until 6 o'clock, but very e depositors availed themselves opportunity to withdraw y. The banks are amply eet any further demands them, but it is thought that , is over and the excitement EVELAND. O., July 17.-A Ishpeming, Mich., says that isinger. syndicate, the largest tors in the world, are in difficu g to the depression in . Adolf Schleisinger, one organizers of the syndica the output was reduced 25 some time ago. All the in Michigan and the central is in Milwaukee. The d by the syndicate are: in Mining company, the Buff ng company, York Mining , Arogan Mining compa e Mining company and : Mining company. These ompanies, all owning mines, olidated four years ago by - Brothers, and. it is said, on t capital. It is also said the e ling. went too deeply into properties lesinger's

7. July 27, 1893 Barton County Democrat Great Bend, KS
Article from Barton County Democrat, July 27, 1893

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KANSAS STATE NEWS. Wichita is about to proceed against physicians who failed to observe the rules of the board of health. All the firemen of Salina have resigned because one of the papers scored them for their conduct July 4. Claude Stewart, a convict in the penitentiary, made his escape the other day. He had only about eight months to serve. Six Kansas banks, located at as many towns, failed on the 17th as a result of the suspension of the Kansas City National bank. The financial flurry resulted in the suspension of the Northrup bank at Kansas City, Kan., and also the Armourdale bank. "Miss Jones," who wrote that silly letter to Chief Justice Horton, is pronounced by a private letter received at Topeka to be a lunatic. Among the banks carried down by the late storm were the First national and the People's savings at Fort Scott. A run on the other banks, however, was promptly met. Albert May, a tough character, was detected in the act of breaking into a store at Leavenworth the other night and captured by a citizen who brought him to time with a revolver. Twenty-one military convicts from Fort Sully,1 were recently brought to Fort Leavenworth and placed in the military prison. Most of them were sent in for desertion and theirsentences range from one to five years. A dispatch received at Leavenworth a few days ago stated that the board of managers of soldiers' homes had exonerated Gov. A. J. Smith, of the home at Leavenworth, and recommended the removal of Surgeon J. L. Weaver. A. L. Davis, an express messenger on the Santa Fe, was killed the other morning at Hunnewell. He was leaning out of the car too far and was struck on the head by a coal chute, which threw him under the moving train. Joseph Ebler was terribly mutilated with a razor while stupified by liquor, at his home in Kansas City, Kan., the other night and bled to death. His wife is under arrest charged with the crime. Ebler was 30 years of age and his wife 49. The state board of railroad commissioners has concluded the hearing of testimony in the case of the city of Wichita against the railroad companies centering there. The board has fixed August 10 as the day for hearing final arguments in the case. Attorney-General Little stated recently that his attention had been called to the fact that railroad companies were operating coal mines in violation of their charters, and that he proposed to institute an investigation with a view of forcing a forfeiture of the charters of such companies as are engaged in the coal business. The attorney-general has directed Secretary of State Osborn not to charter any more "bond investment" companies. Several of these concerns are already in operation. They promise to make people rich in a short time, but people who have investigated their manner of doing business claim they cannot do what they promise. During the financial flurry J. D. Carter, a stockman, drew his balance, amounting to over $700, from one of the banks at Wichita. Taking his money home in the country, he deposited it in a fruit jar, and this he hid in a strawstack in his corral. A few nights later the stack was struck by lightning and the money went up in smoke. Horace Rennie, of Springfield, Mo., died suddenly about 2 o'elock the other morning at a hotel in Wichita. He ararrived on a visit the day before and in the evening retired in apparent good health. Just before his death he awoke his wife and said he was ill, and a few minutes later died. A post mortem examination showed that death resulted from organic heart disease. The state campaign on behalf of the equal suffrage amendment to the constitution will be inaugurated at Kansas City, Kan., on the 29th and 30th of September, under the auspices of the woman's rights association. The various committees of the association will continue the campaign vigorously from that date until the November election, and will have the assistance of the most noted suffragists in the United States. Warden Chase, of the penitentiary, has completed a report of the habits and inclinations of the inmates of that institution, which shows some queer facts. There are more country boys than town boys. They are divided thus: City, 270; town, 157; country, 281. Profanity is common among 538 of the convicts, while 170 do not swear. Seven hundred and six want to reform and one says he does not. Three hundred and fifty-six say they were led to crime through drink. Tobacco is used by 603 of the men there, while 104 neither smoke nor chew. In marked contrast to Buffalo Bill's wild west show at Chicago is an exhibit from the United States Indian school World's

8. August 17, 1893 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, August 17, 1893

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Suspended Bank Reopens. KANSAS CITY, Aug. 15.-The Armourdale bank, which suspended business a month ago, today resumed business.

9. August 17, 1893 Delaware Gazette and State Journal Wilmington, DE
Article from Delaware Gazette and State Journal, August 17, 1893

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A Bank Resumes Business. United Press Dispatch by Special Wires. KANSAS CITY, Mo., Aug. 16.-The Armourdale Bank at Armourdale, which suspended business in the financial crash one month ago, has reopened its doors and resumed business.

10. August 17, 1893 The Sun New York, NY
Article from The Sun, August 17, 1893

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Suspended Banks Reopen Their Doors. KANSAS CITY. Aug. 16. - The Armourdale Bank at Armourdale. which suspended business in the financial crash in the two Kansas cities one month ago yesterday. has reopened its doors and resumed business. FORT SCOTT, Kan., Aug. 16-The First National Bank of this city. which suspended on July 18, resumed business this morning. Bank Examiner Latimer of Sedalia. who has been in charge since it closed. has issued a notice to depositors saying that the institution is in good financial condition. WASHINGTON. Aug. 16.-The First National Bank of Rico, Col., which suspended payment June 30. 1893. having complied with the conditions imposed by the Comptroller of the Currency. and its capital stock being unimpaired. has been permitted to-day to reopen its doors for business. CLEVELAND. Aug. 16.-The Cardington Banking Company. at Cardington. O., closed its doors this afternoon. Theassets approximate $100. 000 and are said to be sufficient to meet the demands of the creditors. The President of the bank. Major W. G. Beatty. was obliged to make an assignment. and the bank could not weather the trouble brought on by his embarrassment. CARROLLTON. Pa.. Aug. 16.-The banks of Johnston. Bucks county. at Ebensburg. Carrollton. and Hastings. which suspended payments until they could get more money. will open again on Monday morning.

11. August 23, 1893 The Star Reynoldsville, PA
Article from The Star, August 23, 1893

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BANKS RESUMING. One in Kansas and Another in Missouri Start Again. The Armourdale bank at Armourdale, Kansas City, which suspended one month ago resumed business. There wasa positive scramble to deposit. The First National bank of Fort Scott, Kan., which suspended on July. 18, has resumed business.

12. August 24, 1893 The Worthington Advance Worthington, MN
Article from The Worthington Advance, August 24, 1893

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WEST AND SOUTH. MASKED men boarded a New Orleans Pacific train at Mansfield Junction, La, and relieved the passengers of their valuables. AUDITOR ACKERMAN shows in his official report that the world's fair directory up to the 1st inst. expended for construction and administration $22,182,423.92. It still. had outstanding liabilities of $1,190,462.32, besides $4,444,500 of debenture bonds. The total gate receipts to date were $3,447,037.51, and from concessions, $1, 178.546.92. THE First national bank of Fort Scott, Kan., and the Armourdale bank at Armourdale, Kan., which suspended recently, have resumed business. AT Goodland, Kan., a hailstorm wrecked several buildings and fatally injured a man named Wood and his two sons. IN St. Paul C. O. Rice & Co., dealers in carpets and wall paper, made an assignment with liabilities of $112,000. FLAMES destroyed the Tubbs hotel at East Oakland, Cal, the loss being $200,000. IN Denver the Crescent flour mills and elevator were destroyed by fire and one fireman was injured and $250,000 loss was inflicted. IN convention in Des Moines the Iowa republicans nominated Frank D. Jackson, of Des Moines, for governor: W. S. Dungan, of Chariton, for lieutenant governor; G. S. Robinson, of Storm Lake. for supreme judge; J. W, Luke, of Hampton, for railroad cómmissioner, and Henry Sabin, of Des Moines, for superintendent of public instruction. The platform approves the administration of Benjamin Harrison; favors maintaining both gold and silver as unlimited legal tender for the payment of debt, every dollar to be of equal value; opposes state bank money; says the pension system now in practice is a menace to the honor of the brave and deserving national defenders, and doclares in favor of local option.

13. August 24, 1893 The Middleburgh Post Middleburg, PA
Article from The Middleburgh Post, August 24, 1893

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BANKS RESUMING. One in Kansas and Another in Missi Start Again. The Armourdale bank at Armoun Kansas City, which suspended one E ago resumed business. There wasa post scramble to deposit. The First National bank of Fort Kan., which suspended on July, 18, resumed business.

14. August 24, 1893 Warren Sheaf Warren, MN
Article from Warren Sheaf, August 24, 1893

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WEST AND SOUTH. MASKED men boarded a New Orleans Pacific train at Mansfield Junction, La., and relieved the passengers of their valuables. AUDITOR ACKERMAN shows in his official report that the world's fair directory up to the 1st inst. expended for construction and administration $22,182,423.92. It still had outstanding liabilities of $1,190,462.32, besides $4,444,500 of debenture bonds. The total gate receipts to date were $3,447,037.51, and from concessions, $1,178,546.92. THE First national bank of Fort Scott, Kan., and the Armourdale bank at Armourdale, Kan., which suspended recently, have resumed business. AT Goodland, Kan., a hailstorm wrecked several buildings and fatally injured a man named Wood and his two sons. IN St. Paul C. O. Rice & Co., dealers in carpets and wall paper, made an assignment with liabilities of $112,000. FLAMES destroyed the Tubbs hotel at East Oakland, Cal, the loss being $200,000. IN Denver the Crescent flour mills and elevator were destroyed by fire and one fireman was injured and $250,000 loss was inflicted. IN convention in Des Moines the Iowa republicans nominated Frank D. Jackson, of Des Moines, for governor; W. S. Dungan, of Chariton, for lieutenant governor; G. S. Robinson, of Storm Lake. for supreme- judge; J. W. Luke, of Hampton, for railroad commissioner, and Henry Sabin, of Des Moines, for superintendent of public instruction. The platform approves the administration of Benjamin Harrison; favors maintaining both gold and silver as unlimited legal tender for the payment of debt, every dollar to be of equal value; opposes state bank money; says the pension system now in practice is a menace to the honor of the brave and deserving national defenders, and declares in favor of local option.