Omaha daily bee., 1896-12-01
KANSAS CITY is uIr HARD.
Bank supposcd TO lie Exceptionally
strong Forced 10 the wall.

Bank SUPPOSED TO lie Exceptionally
strong Forced tO the wall.
KANSAS CITY, Nov. 3O.-The Missouri
National bank closed It's doors this morning
owing to heavy Withdrawals OF one of its
principal dopositors. Deposits are $1,000. 600,
but statement Of the banks assets and
Liabilities is not yet obtainable. The bank
was cassed As one of the strongest in the
southwest.
shortly after II O'Clock the following no.
ticc was placed on the door
BY order of. the directors this bank has
been closed aud is in the hands of the comp
troller."
This action was precipltated by the with
drawal of $4,000 in one lump by Heinz the
wealthy local brewer whose action was
quickly followed by others.
The last statement issued by the bank
showed deposits OF $l,56i QUO, and cash and
exchanges amounting to $4,000. Its officials
are d, V. Ricger president, and D. Il. Gov
ington. cashier. In the panic of July, 1898
the Missouri National was one of the several
local institutions to go under, but it soon
rCopened.
The bank had been open today for lust
an hour, when the comptroller took charge
OF its affairs The closing came as a surprise
to the officers. They were thoroughly dis
concerted by the action ana too excited to
make a statement. The same surprise was
evinced everywhere, other blnks believing
the Missouri National to have regainrd its
prestige and to be in a fourishng condi-
tion. No fears were expressed by other
leading bankers that the failure would
spread.
Absolutely no figures on the assets or
liabilities are obtanabie The officials fatty
refuse to make any statement regarding
the banks condition or whether It Will be
likely to resume business. The general
opinion however is that this second failure
will ultimately end in the oank winding up
its affairs
Two causes are assigned for the suspcn-
sion. one is slow collections: the other
reason, and the prime reason, was that there
have been dssensons among the directors.
They were Of such character that they
finally led TO a clashing with the govern
ment, and it was thought best to close the
doors of the bank and have things straight
ened out. This information was confirmed
by President Ricger this afternoon.
''I have little to say" he said TO re-
porter, except that there is no doubt what
ever that the depositors will get every dol
lar they have deposited here and if the bus
mess is judiciousy handled, the stockholders
should get a very fair return"
II. A. Forman OF st. Louis, national bank
examiner for Missouri, is in charge of the
bank. II can give no information" he said,
beyond what is found in the notice of sus-
pension and what is contained in the banks
last financial statement"
The bank opened for business at the usual
hour this morning and many persons made
deposits before the closing notice had been
posted These deposits. according to Cashier
Covington. will be paid back, probably in a
few days. The bank had between 2.2OO and
2SOO depositors mostly for small amounts
and there are probably l2O stockholders of
the concern. That the failure cannot involve,
even indirectly, any member of the Kansas
CITY Clearing House association is the con
sensus of opinion among all the clearing
house members and an opinion that is cx-
pressed in no uncertain terms At no time.
II is claimed has the cash reserve been held
in all banks at snch a percentage of demand
deposits. From the twonty-four- hour reports
on currency made by the cashiers of the
various banks 1t would appear that since