People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1895-03-21
DISCONTINUED BUSINESS!
The NATIONAL BANK OF KAN.
SAS CITY SUSPENDS.
The Coroner's Inquest Throws No Light
on steviPs Murderer--.General Ezeta
Thinks his Followers Chose An I'm
Opportune Moment.

At the usual hour of opening the
bank, $3.50 o'clock this morning the
following notices were posted on the
door:
To depositors: The depositors and
stockholders of this bank have decided
to discontinue business. All depositors
will be paid in full. (Signed) J. s
Chich, president.
A second notice read: To whom II
may concern: This bank is in the
hands of the undersigned (Signed)
G. W. Galbraith comptroller of curren-
CO.
These announcements caused no ex-
cltement. A small crowd gathered
around the bank but it soon dwindled
away to half dozen loungers and an
occasional passer by, who would read
the notices, say that's too bad" and
pass on. Stock holders or depositors
called occasionally and most of them
were admitted. In almost every case
they would walk to the desk and shake
hands with President Chick, who in q
few words would explain the situation.
His explanation was in every case sat
isfactory. There was no loud talk and
no unfavorable comments were made
Since the publication of the banks
statement on March 5, depositors have
been withdrawing their deposits and on
Saturday evening it was apparent to
the officers of the bank that they could
not carry on the business through to-
day unless the clearing house came
TO their assistance with a loan. A
meeting Of the clearing house associa-
ton was called for yesterday which
was attended by the directors of the
National Bank of Kansas City.
CHICKS STATEMENT.
President Chick said: Saturday we
paid out over $4,000 and saw that we
could not meet the demand this morn
ing unless something was done. We
needed about 100000 to put us in good
standing. Some of the banks were
anxious to help us but the feeling was
not general, and we consequently de-
cllned the assistance The Bank of
Commerce offered to HELM us hut We
llau decided to suspend so as to pay
all depositors alike, and no one per
son Will have an advantage. Every
deposltor will be paid in full and no
one VIII lose a cent. We will endeavOr
10 nave a settlement just as soon as
possible"
"A prominent member Of the Kansas
Clty Clearing House association said
Inc liquidation of the National Rank
OF Kansas City in no wise affects tbe
other banks of this city. That hank
would nave to liquidate sooner or later
mas peen Tor some time foregone con-
cluslon. When the bank failed on Julv
10, 1893, during the panic, it was doubt
Iul then whether or not it would reopen
again. PSi
NOMINALLY TWO MILLION.
The probable assets of the bank are
close to $4,000 but owing TO tba foot
.hdt much OF this is represented by
Doom paper and real estate, it will be
very slow for collection. In fact the
closing of the bank can hardly he
termed failure, but simply a gradual
dying out. There is but little doubt
but what the depositors will receive
dollar for dollar with interest for their
money, although it may be some time
before they get their pay"
current opinion expressed among
bankers and others who have informa.
tlon on the matter fixes the amount that
will be realized by stockholders at from
20 10 ~ per cent of their holdings of
STOCKS. The principal stockholders
We're on the directory. Cashier w. A
Rule OF the Bank of Commerce. said
tnat kilograms had been sent ont nv
MS bank to the country banks who
nave been customers of the Rank M
Kansas City, informing them that all
dratts on the suspended bank will he
honored by the National Bank of Com
merce. L am also notifying the whole
sale merchants of this CITY that orr
bank will honor their checks If thev ca
desire In this way there will be no
inconvenience to the merchants or de-
posters of the Bank Of Kansas City.
The following figures show the grad
ual railing off in the banks business
since 1893. On July II, 1898, the total
deposits were Sl,99O,OOO; February %
1894, H,777,OO March 5th 1895. $500 OOO
Local deposits aggregate s4OO, 900; cash
on hand yesterday 100000.
The bank is the oldest financial insti-
tuition in the city having been establish
ed by Moses ] and w. H. Chick before
the war. Ii July 1893. It succumbed 70
run and temporarily closed its doors.
Although the capital was reduced and
the stockholders paid in afifty per cent
assessment, the institution has never
recovered from the blow 1t received at
that time and its suspension now is
directly attributed to that suspension.
Officers g. the bank are closeted with
several Of the heavy depositors at this
time. 1t is understood il is the inten-
ton to wind up affairs of the institution
and retire from business. President ].
S. Chick says that the suspension is
merely on liquidation, and that not a
depositor will lose a cent. Since March
5, depositors have been drawing out as
they considered the statement very un-
favorable. On Saturday over $4,000 was
withdrawn and the officers saw that
If the run continued they would not be
able to continue payment today. There
is no probability that any of the other
banks will be affected in any way.
While there was considerable excite
ment when the suspension was first
made public yet there is the best Of
feeling among depositors for the Off
GERS Of the failed institution.
WHAT ALLIED THE BANK.
At the other banks the suspension
will be regarded as an unfortunate af-
fair which will have no direct effect
except to increase the business Of all
the other banking institutions. In bank
ing circles the weakened condition Of
the bank had been known for long
time and the action of the directors in
deciding on suspension was no surprise
There was no indications Of run atany
other institution.
HE PRAISES PRESIDENT DOLE.