First Arkansas Valley Bank (Wichita, KS)

Episode Information

Episode UID
9169218891094
Episode Type
Suspension → Reopening
Bank Type
trust
Bank ID
916921889 hash
Start Date
February 5, 1891
Location
Wichita, Kansas (37.692, -97.338)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
4de837f03ffc1e94

Response Measures

None

Description

Articles describe a temporary suspension due to collections/correspondent stringency; no receivership or permanent closure reported.

Events (1)
1. February 5, 1891 Suspension
Cause
Correspondent
Cause Details
Payment temporarily suspended due to inability to make collections and to procure funds from correspondents amid a general stringency.
Newspaper Excerpt
To our depositors: Payment temporarily suspended, owing to the impossibility of making collections and inability to procure funds at the present time from our correspondents, and to the great stringency now prevailing.
Source
newspapers

Newspaper Articles (10)
1. February 6, 1891 Pittsburg Dispatch Pittsburgh, PA
Article from Pittsburg Dispatch, February 6, 1891

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Article Text

AN OLD KANSAS BANK SUSPENDS. The Assets Thought to Be Amply Sufficient to Cover the Debts. WICHITA, KAN., Feb. 5.-Just before the hour for opening this morning the following notice was posted on the door of the First Arkansas Valley Bank here: 6 To Our Depositors: "Payment temporarily suspended, owing to the impossibility of making collections and inability to procure funds at the present time from our correspondents, and to the great stringency now prevailing." The assets of the bank are said to be more than twice sufficient to pay all liabilities, which are about $125,000. The bank was the oldest in Southwestern Kansas.

2. February 6, 1891 The Morning News Savannah, GA
Article from The Morning News, February 6, 1891

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Article Text

A KANSAS BANK CLOSED. Its Assets Believed to be Double Its Liabilities. KANSAS CITY, Mo., Feb. 5.-A special to the Star from Wichita, Kan., says: "Just before the hour for opening, the following notice was posted on the door of the First Arkansas Valley Bank here: 'To our depositors: Payment is temporarily suspended, owing to the impossibility of making collections, and inability to procure funds at the present time from the correspondents, owing the great stringency now prevailing.' The assets of the bank are said to be more than twice sufficient to pay all liabilities, which are about $125,000. The bank was the oldest in Southwestern Kansas."

3. February 6, 1891 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, February 6, 1891

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Article Text

One More Kansas Bank. WICHITA, Kansas, Feb. 5-[Special]Just before the hour for opening, the following notice was posted on the door of the First Arkansas Valley Bank here: "To our depositors : Payment temporarily suspended owing to impossibility of making collections and inability to procure funds at the preser nt time from our correspondents, owing to the great stringency now prevailing."

4. February 6, 1891 The Morning Call San Francisco, CA
Article from The Morning Call, February 6, 1891

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Article Text

FINANCIAL TROUBLES. An Insurance Company in the Hands of a Receiver. CHICAGO, Feb. 5. - The Manufacturers' Mutual Insurance Company has been placed in the hands of a receiver. The liabilities amount to $50,000, in addition to the claims of policy-holders. The assets, it is said by the company officials, will amount to $25,000. A judgment was entered against the company yesterday afternoon for $400, and shortly after an application was made for the appointment of a receiver. WICHITA (Kans.), Feb. 5.-The First Arkansas Valley Bank here has suspended payment, owing to the impossibility of making collections and the inability to secure funds. The assets of the bank are said to be more than double the amount sufficient to pay the liabilities, which are about $125,000.

5. February 6, 1891 Evening Capital Journal Salem, OR
Article from Evening Capital Journal, February 6, 1891

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Article Text

A smallpox epidemic exists in Texas. The towns of Rusk and Overton and the country adjacent are infested, the schools are closed and a rigid quarantine established. The First Arkansas Valley bank, of Wichita, Kas., has suspended payment. The assets of the bank are said to be more than double the liabilities, which are about $125,000. The son of Mr. Punney, in Sheboygan, Wis., was burned to death by the destruction of a tenement this morning.

6. February 7, 1891 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, February 7, 1891

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Article Text

A Wichita Bank Goes Under. 1 WICHITA, Kan., Feb. 6. - The First Arkansas Valley bank, the oldest in southwestern Kansas, posted a notice this morning that, owing to the impossibility to make collections and the stringency now prevailing, payment will be temporarily suspended. The assets are said to be more than sufficient to pay all liabilities, which are about $125,000.

7. February 7, 1891 Telegram-Herald Grand Rapids, MI
Article from Telegram-Herald, February 7, 1891

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Article Text

Collections Too Slow. WICHITA, Kan., Feb. 6.-The oldest bank in Southwest Kansas, the First Arkansas Valley Bank of this city, failed Thursday morning with liabilities to depositors amounting to $120.000. The bank was a private institution. No one will lose any thing. as the bank's assets are valued at $250,000. The institution has been doing a large loaning business on real estate and collections have been slow. This is the resson given for the suspension.

8. February 12, 1891 Crawford Avalanche Grayling, MI
Article from Crawford Avalanche, February 12, 1891

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Article Text

Recent Failures. King Brothers' clothing store at Spring+ field, Mo., was closed on a chattel mortgage. The liabilities are $30,000. Charles A. Weiber's clothing store at Grand Island, Neb., was closed under a mortgage with liabilities of $40,000, and the First Arkansas Valley Bank at Wichita, Kan., suspended payment temporarily with liabilities of $125,000 and assets twice that amount.

9. February 12, 1891 The Telegraph-Courier Kenosha, WI
Article from The Telegraph-Courier, February 12, 1891

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Article Text

Recent Failures. King Brothers' clothing store at Springfield, Mo., was closed on a chattel mortgage. The liabilities are $30,000. Charles A. Weiber's clothing store at Grand Island, Neb., was closed under a mortgage with liabilities of $40,000, and the First Arkansas Valley Bank at Wichita, Kan., suspended payment temporarily with liabilities of $125,000 and assets twice that amount.

10. February 14, 1891 Mineral Point Tribune Mineral Point, WI
Article from Mineral Point Tribune, February 14, 1891

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Article Text

LATEST NEWS CONDENSED. GENERAL NOTES. THE steel cruiser Newark is completed and in commission. BERNARD KRAUZ, of Menasha is heir to a big estate in Germany. THE rubber trust has collapsed and the members have commenced cutting the prices right and left. THE San Francisco police have destroyed, in a Chinese joss-house, idols and furnishings worth $30,000. THE announcement was made that the American National bank of Kansas City, which failed two weeks ago, will resume business. WILLIAM LOVELL, the Racine laundryman who became insane upon his honeymoon trip, was taken to the Wauwatosa Insane Assylum. THE Wisconsin supreme court has decided that accident insurance begins as soon as the first premium is paid to the agent, holding, that the latter has general power to act for the company. THE soda fountain men have formed a combine with a capital stock of $2,750,000. Ex-CHIEF JUSTICE JOHN APPLETON died Saturday, aged 87. THE annual carnival and mardi-gras festivities were begun in New Orleans Friday. A BLIZZARD and snowstorm is forcing the suspension of traffic in South Dakota, lowa and Minnesota. JACOB NESSLY McCULLOUGH, vicepresident of the Pennsylvania railroad, died yesterday at Pittsburg, leaving an estate worth $14,000,000. THE First Arkansas Valley bank, of Wichita, Kan., has suspended. The liabilities are $125.000 and the estimated assets are $300,000. Jay Gould and C. P. Huntington will unite under one management the Missouri Pacific ard the Southern Pacific railroads, which will control 7,000 miles of railway. THE election in Canada will be contested on the issue of reciprocity with the United States, the liberals advocating and the conservatives opposing the policy.