Kansas City daily journal. [volume] (Kansas City, Mo.) 1892-1897, 1896-12-02
QUESTION OF RESUMPTION.
CONSIDERED By MISSOURI NATIONAL
BANK DIRECTORS.
Final Action Deferred Until Another
MeetinS-Examiner Forman Has
Not Completed His State
ment of the Assets
and Liabilities.

| The question of a reorganization of the
Missouri National bank was discussed for
several hours yesterday afternoon by the
! directors and several of the outside stock
| holders, and it will receive attention again
| to-day, but there will be no final action
| taken with reference TO that subject until
some of the heaviest stockholders from
out OF the city arrive. The formal discus
sion of the subject yesterday resulted in
showing that many of the stockholders
were not at all ayerse to a reorganiZa
ton and were quite willing TO stand an
assessment sufficient to take up every claim
| against the bank and start without a cent
due to any one. With others there was
disposition to wait until some plan of
organization was suggested, but there was
none who expressed himself as opposed to
any plan. For that reason the prospect of
reorganization is not discouraging.
National Bank Examiner Forman, who is
in charge, was busy yesterday getting
matters Strengthened out as rapidly as
possible. He was seen during the day and
said there was nothing whatever new in
the banks affairs and that he had not
completed his statement of the assets and
liabilities and might not for several days.
He was busy with other matters and
would attend TO that when he reached it.
Until the statement of the banks con-
dition is made public there is no way to
know the exact situation. The bank has
on hand, however, more than the legal
reserve in cash and it carried a nice lot of
paper that can be easily be turned into
cash on short notice. so that in case it
goes into the hands of n receiver it would
be ready to declare a big dividend, possibly
80 per cent, within a short time. The bank
officers, while making no formal statement
OF the condition of the bank unite in say
ing that much of the paper it holds is
frst-class and its assets are all right and
quite sufficient to meet all obligations
when carefully handled They admit they
have accumulated some paper that is slow.
All banks do that. but the officers contend
they have not allowed themselves to be
overloaded and they have no paper that
cannot be realized on nicely with proper
management
Yesterday President Rieger said: "I pro-
pose to remain here in the bank and give
my entire time to assisting in carrying the
work of settlement forward so that every
depoSitoF may secure full payment at as
early a date as possible. have full faith
in the value of our assets and do not in
tend the depositors shall suffer. They had
confidence in the bank and its ability to
pay, and that confidence shall not be
abused. 1 have no statement to make re-
garding the definite condition of the bank
1t must come from the examiner who is
in charge. Knowing the assets as I do, I
do not hesitate to say that they are ample
TO meet the obligations of the bank. AS to
the reorganization of the bank, that has
not been determined on. For myself,
shall retire from the business. any way.
I have been in the business for twenty
two years and do not care to continue
longer in it,
None of the business men who carried
deposits in the bank has met with any
hardships from the closing, as other banks
have stepped in and taken care of them
promptly. The other banks have also
stated to depositors their claims against
the closed bank were good and they would
help them and wait for dividends. This is
an indication of what other banks feel
concerning the closed bank and the value
of the claims held against it.
None of the other banks in the city ex-
pereuced any trouble yesterday from its
depostors and the closing of the Missouri
National did not interfere with the usual
run of business The other banks are
amply fortified with cash.