The Leavenworth weekly times. [volume] (Leavenworth, Kan.) 1870-1880, 1878-02-07
BROKEN BANKS.
fnore About The Recent Failures in
Kansas City.
interviews With the Stock Men,
Grain Men and Merchants.

The Aansas City 0nes OF yesterday
morning has lengthy report OF the failure
Of two Kansas City National banks, and its
effects upon the business OF the city, from
which We clip the following:
HOW THEY TAKE IT.
II was dull, dreary, sloppy morning. A
whole nights rain had made the streets wet
and slight frost had made the sidewalks
slippery. A cold northwest wind swept
over the city, and dull, leaden sky made
the morning unpleasant. The Times gave
the first and only definite announcement Of
tine closing Of the First National, and BY
eight o'clock the whole city had heard the
news. II created surprise, and in two
hours the streets leading TO the First Ma
tional were thronged with people. All were
going one way-toward the corner Of Fifth
and Delaware.
The police were on hand to preserve or
der, but their presence was not required.
There was slight furry and feverish ex-
element for a,time, but as the doors remain
ed closed the poor people with books Of de-
post in their hands, turned sadly away with
bowed heads, and disappeared. And this
was the programme all day. Hundreds
came to the glass door and read the printed
notice thereon, and many stood as if iascin-
ated by the card, and only left when pushed
away when otLers crowded upon them.
There were laborers there who had deposit
ed their little savings OF years in the saw
ings department, poor, bronzed, hard work
ing men, with patched garments and horny
hands; there were old women and young
girls, seamstres ses who have made their iit-
/ tie all by close economy and hard work.
Young men, too, who had saved Tor
years Tor the future, and men OF family,
whose hope OF home was in the fes
hundreds laid up in the savings depart
ment OF the great bank. 1t was asaG sight.
and one that cannot be forgotten But stili
there was no Uproar. They came, looked
upon the cl ,Sed door. read the notice. and.
! with bowed heads, went sadly and au.t "
away. They went away TO st.iie the bitter
ncss of tier hearts in silent volcano
which may some day burst forth in terri
BILE Jury. The intelligence of the masses
koli them silent, and the iulure will ind
| them wiser. There was 10 need OF police,
no Gproar, no riot, aud nothing but calm
neSs. If the First National had not had a
savings department, there would have been
no collection OF labUrers, mechanics, widows
and poor people at its doors yesterday
morning.
| AMONG TIE LIVE STOCK MEN.
| The announcement made by the Times
created Il sensation among the stock dealers
in the Live Stock Exchange building. But
still il did not demoralize or stampede the
boys. They were surprised and somewhat
di-mayed, as most OF the heaviest live stock
men did business in the First National
| Three of the heaviest firms are badly Grip.
pied. 1t is unnecessary to state who they
| are. The cattle trade is hurt, and badly
| hurt, and some of the best men are temper
arily crippled; but still there is no serious
damage done. The packing houses stand
up for the town. Mr.. Armour said las,
evening.
| I'VE don't do much financial bushes.
here, but We shall continue 10 pack beef and
pork just the same"
! Mr. Notsinger said II don't deny that
it is serious calamity TO the city, but We
shall continue our business just the same Il.
| if the First National had not closed"
Mr.. Slavens said he did not feel the leas,
alarmed He had done business through
the First National, but the firm of Slavens
| Mansur & Co., would go on. He thought
4 Il SICdt Dut wa
no material dama.e done.
| THE GRAIN MEN.
The blow fell heaviest among the grain
men. The First National Bank had been
carrying number Of men who were Deepen.
dent upon Its solvency Hence it is inevi
table that some must go under. As an indi
cation as To how the grain men feel few
| expressions are given:
/ MIR. Quade of the Union Elevator-"I
think it will criHp. grain trade temporari.
Iy."
Il. III. Hunt, OF the Arkansas Elevator
81 do not think there will be permanent
damage to trade 1t will stagnate business
but only for a time. l have every hope.
| Mr.. Latshaw-'No harm to trade; the
damage is only superficial. l think the
grain trade is all right"
Mr. Croysdale-''I don't like it; it ties W
the hands OF men, ties up the hands OF cap
ital, but it will bring the grain trade dowr
to legitimate basis"
Mr.. Naughan-'I think it is sad cal
aDiity. The trouble will come to us through
country banks which do business through
the city. | do not think there will be an,
permanent damage done to trade. 1t will
create distrust and so injure our city"
c. +. kearney-"I don't think the sus
pension will iDjure the city. 1t may max,
a temporary stagnation, but all will com,
out we'll | will tell you story from Chas
Lever, entitled Davenport Dunn"
I. &. Eames-'I have some property
about $40, 900 worth | will trade it for Ger
tilted checks, or certificates of deposit OF
the First National"
Captain Tulfey, of Tulfey & Dewar-"W,
are badly bound up in the First National
all grain men are. We have about 10000
bushels of grain in hand. 1t hurts u.s."
| T. Il. Threlkeld-"i look on this as
very serious calamity to the city. The
grain men, with four or five exceptions
were being carried by the Firss National
1t ties us up for time. l don't think i
will injure us permanently, but it will
work a temporary trouble here. The grair
in Kansas must and will find its way t,
market this way"
The grain men were doing their bushes:
principally through the First National
bank. Most of them are largely indebte,
to that bank. They are heavily involved
and hence they must succumb. The grair
trade will lose some of its best men, and a
the same time large proportion of it
speculative element This will be bless
ing TO the grain board.
| WHAT MERCHANTS SAY.