The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1891-01-20
BIG BANK FAILURE.
American National, at. Kansas
City, Goes Under.
LIABILITIES IN MILLIONS.
United States Bank Examiner In
Charge of tho Instltufion..-rhe
Excitement Causes a Run on
Other The Details.

KANSAS CRY, Mo-, January l9.-Tht
American National Bank, of this city
vas taken charge of this morning by F.
E. Marshal, National Bank Examiner fc1
the State OF Missouri. The capital stock
Of the bank is 81, ,25O,OOO. No statement
Of the liabilities or assets can be oh.
tanned. To the Associated Press tore-
spondsnt, Examiner Marshal said this
morning: "There Is absolutely nothing
to say except that the bank is in my
CHARGE"
During the early part of last week it
became known to the members Of the
Kansas City Clearing House Association
that the American National Bank was in
ueed OF assistance. A meeting OF the
association was called, at which reso-
luton was adopted assuring the Amer
lean National Bank that upon a proper
showing assistance would be rendered
10 the amount OF 81, 900, 900 or more. a
committee, consisting OF Messrs. Wilton
Mcdonald, President OF the Midland
National Bank; DR.. VS.. Woods, Presi.
dent Of the National Bank Of Commerce,
and F. P. Neal, Vice President OF tho
Union National Bank, were appointed
to be in readiness to act for the asIocia.
tlon Friday evening. Mr.. Il. p. Stimp-
son, President OF the American National
Bank, requested q conference with tho
committee. The conference resulted in
a recommendation that tha association
render the American National Bank as.
aistauce.
At a meeting OF the Clearing House
Association Saturday evening the com,
mittee was instructed to examine the
securito offered by the American NJ
tional Bank and ascertain The amount cf
money needed. Yesterday the COMMIT.
tee, calling to its assistance National
Bank Examiner Marshall, examined tha
collaterals offered as securities for ore
million dollars or more which the ASo.
citation agreed to loan. The committee
reported to meeting OF the Associate, n
last night that the Collaterals offered v
the American National were not such III
the banks OF the Association would ac.
cept. This decision OF the Association
made the failure OF The bank inevitable,
and the National Bank Examiner there.
upon assumed charge of the banks
affairs.
AS result of the failure a great deal
Of uneasiness has bsen created among
the depositors OF the Kansas City anta
and Savings Deposit Bank, which is in
the same building with The American
Bank, and is supposed by many to be
connected with 1t, and ;bere III tTeman-
dous run on that institution. The side.
walk is blocked and the doors Of the
bank are crowded with dspositors aux.
ious TO recover their hard.eatned SOW.
ings. The bauk is paying all depositors
promptly, and the officials claim that
they can meet all obligations. The bank
Is in no way connected With the Amen.
can National. 1t is the largest savings
bank in the State, and its officers are the
most careful and conservative business
men Of the city.
The deposits OF the bank are about
1000, 600; since October last the de-
posits have decreased from over Sl,0OO,-
000 to the present amount, It ia ascer-
tanned that the bank owes over $500,
borrowed money. A gentleman who ia
in position to know the condition Of
the other National Banks OF this cilv
says this morning that they are in an
unusually good condition, and would
not be materially affected by the failure.
No statement OF the amounts Of Ii .bil-
tiles and assets Of the bank has been
made. They are estimated at s., ,250, COO
liabilities and SS,5OO,0C0 nominal assets,