The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-03-18
BIG BANK FAILS.
National Bank of Kansas City
Closes Its Doors.
Steady Withdrawal of Deposits
Since 1898 the Cause.
SUSPENDED BEFORE.
The Same Bank Closed During
the Panic of '93.
None of the Other Banks Will
be Affected.
SUSPENDED BEFORE

KANSAS CITY, March 1S-The National
bank of Kansas City failed to open it's
doors this morning. The direct cause of
the failure was the unfavorable state
ment of bank affairs given out March g.
In the panic of 1898 the bank sus-
pended, but through arrangements be-
tween depositors and stockholders it was
permitted to resume business. The
steady withdrawal of deposits since that
time has placed the bank in an embar
RAISING position and necessitated another
suspension. Inc statement given out is
not complete. 1t shows assets of 81, S00,-
00U; liabilities $1,084, ,00e.
The Star this afternoon will say edi-
torially that none of the other banks
of the city will be in anyway affected,
being in splendid condition.
Though the bank was known to have
been in shaky condition, the failure
was unexpected and the news of the sus-
pension created quite sensation in
financial circles here.
The following notices posted on the
| bank doors were the first intimation the
dropped off so much as to force it to close
its doors:
| "Io depositors: The directors and stock
holders of this bank have decided to
discontinue business. All deposits will
be paid in full.
''tsignedO Us. CHICK, President"
A second notice read:
ITO " ON it May Concern:
's1nIs bank is in the hands of the TN
dersigned. G. w. GALBREATH,
"Comptroller of the Currency"
The following figures show the gradual
falling off in the banks business since
| the panic of 1898:
On July 12, 1893, the total deposits
were ST. 900; February 2e 1894, ST.
777,00O; March 5, 1895, $990,000. The
total deposits aggregate $40O,000; cash
On hand yesterday $2Oa.000
The bank is the oldest financial iussitu-
ton in the city, having been established
by j: Fl. and w. II. Chick before the
war Until the panic of 1898 it was
ranked as one of the strongest banks in
the west. In July. 1898, it succumbed tc
run and temporarily closed its doors
Although the capital was reduced and
the stockholders paid in so per cent
assessment in the reorganization, the in
stitution has never recovered from the
blow it received at that time and it's sus-
pension now is directly attributed to thai
suspension.
The officers of the bank are closeted
with several of the heavy depositors a.
this time. 1t is understood that it is the
intention to wind up the affairs of the in
stitution and retire from business.
President J. S. Chick says that the sus
pension is merely liquidation and tha
not a depositor will lose cent
Since March the depositors have
been drawing out as they considered
the statement very unfavorable. Or
Saturday over 100000 was Withdrawn
and the officers saw that if the run con
tinued. they would not be able to con
tinue payment today.
There is no prob ability that any of thu
other banks will be affected in any way
While there was considerable excite
ment when the suspension was frs
made public, yet there is the best o
feeling among depositors for the officer
of the failed Institution.