The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-03-19
\ BIG BANK FAILURE.


Kansas City. March iS.~With assets es-
ilma;ed at 81, SSD.0o0 and liabilities of ST.
0sA Cssa the National Bank OF Kansas City
suspended this morning and will liquiaate
and go out of business. At the usual
hour Of opening the hank. $50 a. m. no.
tices announcing suspension were posted
on the doors. These announcements
caused no excitement. A small crowd
gathered about the bank hut It soon
dwindied away To half a Jozen loungers.
ard an occasional passer-hy would read
the notices and pass on. Stockholders or
0epositors called occasionally. and most
Of them were admitted. In almost every
case they would walk 20 the desk and
shake hands with president Chick. who
in few words would explain the situa-
ton. His explanation was In every case
satisfactory. There was no loud talk and
no unfavorabie comment Since the pub
iication Of the banks statement on March
> depositors have been Withdrawing their
deposits. and on Saturday evening Il was
apparent II the officers OF the bank that
they could not carry on business through
today unless the clearing house came "a
their assistance With a loan. \ meeting
OF the Clearing House Association was
called for yesterday. which vas attended
by the directors Of the National Bank OF
Kansas city.
President Chick SAID: I'VE paid out
over $50 90 and saw that We could not
meet the demand this morning unless
something was dnne. We needed about
ssse on 20 pat us IN good standing Some
OF the banks were anxious u help us,
but the feeling was not general and We
consequently declined the assistance The
Bank 81 Commerce offered 20 help us hut
We had decided 20 suspend 81 as 70 pas
all teposStors alike. ara no person will
have an advantage. Every aepoSitor will
he uaia in fall and no one viii lose
cent. We viii eudeaVor 20 have settle
men, tus; as soon as possible"
\ prominent member - the Kansas
CITY clearing association said, The iiqu}-
datson ~ the National Bank of Kansas
CITY In no wise afyscts the other banks of
this city. That tha hank would have %
uouiaate sooner ~ later has heen known
far come time. When the hank failed on
Julv =. 1888. during the panic, IL was
doubtful then whether or not {; woaia
rropen again The probable assets % the
hank ara close - s@.esa,1s. bu. owing 20
the fact that much OF this * represented
hv rapsr and real estate. & VIII - very
slavy for collection IN facs. the closin <
% the bank can hardly he terTues! fall
,lre bat Simply a gradual diving 0at.
There Ia but uttls doubt that the deposit
t,r-s viii receive dollar Cor dollar with in
;e~est for their money, although IL mas
te some tirao before they set their pay"
The current oQin3on expressed among
bankers ara others who h2Ft information
on the matter fixes fhs su.oanf that wiu
~. realized ny stockholders a from = n
% p<r Seas- 81 fNssT holdings - stecs-
Cashier gule, 81 the Sank 81 Commerce.
xaFt that teseEvAraS had neea sent out by
MS haak "a The country hanks who have
been customers ~ tse National Eaak 90
Kansas City. Informing them tAR' all
drafts o. the suspended bank would be
horarrd - the National Bank og con-
rnerce He is also notifying the whole
sale merchants ot this Gi.y that this hank