Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1891-01-20
A BROKEN BANK.
The American National of Kansas City
Compelled to Close.

KANSAS CITY, Mo-, January 10
The American National Bank OF this
city. was taken charge Of this morning
by +. +. Marshall, National Bank Ex-
aminer for the State Of Missouri.
The capital stock Of the bank is 81,
100000. No statement Of the liabilities
or assets can be obtained. To the As
sOciated Press correspondent Examiner
Marshall said this morning: There is
absolutely nothing to say except that
the bank Is in my charge"
During the early part of last week IL
became known to the members Of the
Kansas City Clearing House Association
that the American National Bank was
| in need OF assistance. \ meeting Of the
Association was called, at which rcSO-
luton was adopted assuring the Ameri-
can National Bank that, upon proper
showing. assistance would be rendered
to the amount Of Sl,0OO,0OO or more.
a committee, consisting OF MeSsrS.
Written Mcdonald. President Of the
Midland National Bank; DR.. w. ).
Woods, President of the National Bank
Of Commerce, and +. =. Neal, President
of the Union National Bank, were APP
pointed to be in readiness to act for the
| Association.
Friday evening Mr. II. =. Simpson,
President Of the American National
Bank, requested a conference with the
committee. The conference resulted in
a recommendation that the Association
render the American National Bank as
Sistancc. At a meeting Of the Clearing
House Association on Saturday evening
the committee was instructed TO eX-
anime the security offered by the Amer
lean National Bank and ascertain the
amount of money needed. Yesterday
the committee, calling 10 its assistance
National Bank Examiner Marshall, eX-
amincd the cOllatcrals offered as securi-
ties for 81 200. 00O or more which the
Association agreed to loan. The com
mittee reported TO meeting OF the As
sociatOn last night that the cOllaterals
offered by the Americal National were
not such as the banks Of the Association
would accept. This decision made the
failure OF the bank inevitable. and the
National Bank Examiner thereupOn as
sumed charge OF the banks affairs.
As a result Of the failure Of the Amer
lean National Bank to-day great deal
OF uneasness has been created among
the depoStorS of the Kansas City Safe
and Savings Deposit Bank which is in
the same building with the American
National Bank and is supposed by many
TO be connected with IL, and there Is a
tremendous run on that institution.
The sidewalk is blocked and the doors
of the bank are crowded with deposit
orS anxious to recover their hard-earned
savings. The bank is paying all de-
positorS promptly, and the officials
claim that they can meet all obliga-
tions. The bank is In no way connect
ed with the American National. IL 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
81. POO. 900: since October !, last, the de-
posits have decreased from over : 1000
900 to the present amount. IL is ascer-
tained that the bank owes about $500
600 borrowed money. 4 gentleman who
is in a position 10 know the condition OF
the other National banks OF this city,
says this morning that they are in an
unusually good condition and would not
be materially affected by the failure