, 1873-11-29

cAU6EH OF THE SUPERVISION OF THE F1IlST NATI0N-
Al pANK-How II WILL AFFECT THE TRADE OF


KANSAS Gil +.
CAUSES OF THE 6CBpEN81oN or TIE FIRST NATIoN-
AL DANK-How IT WILL Affect THE TRADE OF
TIE HAw VALLEY.
From Me Karsas CITY TYu,es, Sop. Is.
To thoso who know anything about KanBas
City mud tue mon who hayo laborod most to
banking-houso aH tho First National implies
more tlnn the nero failure Of the banlf to meet
calls upon 1t by its dcposltors. It indicates q
loss OF confidence III o corporation formed
financial business meh III the Wost-auch
men as Miclael Diyely,. keraoy ooata, William
John D. Dnuoroft, NJ. ". st. Cluir, Howard III.
Holden. Adam Long, Z. D. Dnllene, Mntt Foster,
J. n Packard. These Ii arc tho Class Of % mon who Who
hayo pledged their oil to indemnify the deposora
in this ballk. Theao gentlemen aro known to
thiH community AZ identified in. this city with
nearly all important public or buBinoRs entcr-
their Identification with this bank should silence
the clalnor now raised by the uiliuformed, and,
iu majority Of caHes. tho uninieroBtcd portion
OF the community.
In conversation with Mr. Holden, our report
or learned for tho ilrst time how severely this
bauk bus been draiuod since the financial panio
sot ill., and learned for the lrht tln1b how steady
und remoraeleHs has beon tho drain 1uade upon
this. the largcBs and most prominent bank in
Kansas City nnd when it iB tnken into coll
6lueIAtlou tuAL Lul6 Dirk #ab AlNAy6. uuu IN
to-day, solvent, and that lts life WIS tho vitality
Of half the business interests of tho city, tho un-
provoked and suicidal run nude upon 1t CAT
only be designated by two Notwithstanding
panic. But thAt such q rush laH b0en made, no
QUE viii deny who wil inquire into tho alfaira Of
ths bank. Wlon tho preBent 1nancial crash
swept over tho country. tho First National
Bank of Kausas City WIS found to have 81, ,750,-
QUO OF liabilities. Had tho Nnk been
forced into liquidation ut that time, T. general
crash an'ong Western business houses
have cloaed thon than at this time. aiuce thon 1t
had liabilities amounting to 1,750, 00O. But
since the panic has aot in, tho bank has paid out
S1000,00 but, while the bank has been strain
ing oyoly ,nerva to Withstand tho pressure
boen no abatonent iu the exactiona OF itR de-
poaitors. Whou 1t resumed payment, 1t did 80
with tho expectation that tho deposita would
continue to keep up In bulk aud value, but in
ven,ber deposits havo declined In amount over
3200. 900, and during tho past ton days more than
100000, and Oh Monday last, when the last
meeting OF the board Of Directors waH callod,
tho day's drainage Of currency for tllat day had
been $42, 900. Thus, day utter day, constant
become absolutely necessary to cloHe the doors
and go into liquidation.
The notion Of tho First National Bank Of thta
city IN going into liquidation at this ti,ns will
have material effect upon tho interests OF this
city For instance: III tho live STOCK trado alone
difference OF 9G5 t00u III one day's trade ia ro-
ported, aud this III the trst day's suspension Of
tho bank.
Upon the working cassoa this calamity will
fall with o blightiug effect. Tho packing in-
terests will bo affected, tho notwithstanding
interostn will bo staguatcd. a1ld the rotai b,1sl
ness pnralyzcd. Aud for what2 Merely to
satisfy tho e1citable aud panchy Hpasna Of those
who havo drawn from circulation thoir wealth,