The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1897-02-15
NEW MISSOURI NATIONAL.
Calvin Hood Will be President and
Charles Lantry Cashier.

04AOS 4dnC1y SS&SA4cKs
(F'rom Saturdays Kansas City Journal)
II success, which now seems assured,
crowns the efforts to reorganize the
Missouri National bank, an entirely
new bank will rise under new name,
oft1cered and managed by new men,
backed by ample capital and starting
out with clean books
w men the new bank is organized as a
result OF the meetings of stockholders
and oepositors to be held early next
week, 1t will be Calvin Hood, of EN-
Porla, Kas., as president; Charles ]. L.
Lantry, of Strong City, Kas as CASH
Ter and H P. Clark, as assistant cash
Ter Old management and methods will
pc gone away with, and new men and
methods will take their places.
AS mas already been announced a
meeting of the stockholders of the Mis-
souri, National will be held at o'clock
Monoay afternoon to discuss and vote
upon the plan of reorganization which
mas been approved by Comptroller Eek
els This plan as we'll understood.
means simply the wiping out of exis-
tence OF all stock of the old bank and
the sac OF % per cent of the assets of
the oId Dank to the men who will go
INTO the new organization. Those of
the old stockholders who do not go into
the reorganization will no longer have
any interest in the bank and this, in all
proDaplllty, means the retirement of
u. V. Reiger, Henry Q. Kumpf Paul
Covington and others who were active
ly connected with the management of
the old bank
Speaking of the stockholders meet
Ing, Mr. H. p. Clark, who for a short
time was assistant cashier and who is
slated for that important position again
said yesterday: 1.-The $3.50, 900 of the
capital stock of the bank is held by 12O
stockholders and at the meeting Mon
day the vote of the holders of two
thirds OF the stock must be cast in fav-
Fcyff TOW. 20 fIr<A Il
reorganiZe for it to carry. a canvass
OF the situation makes it certain that
the new proposition will be approved
and that new bank will be organized.
OF course, this must first be ratified by
majority of the depositors and after
that must be approved by Comptroller
EckelS, but it is believed there will be
no opposition from the depositors and
that the reorganization will be readily
approved by the comptroller, if the
suggestions made by him are carried
out. The main idea, of course, is to do
away with the expense of a receiver
| and to accomplish that the stockholders
and the depositors must agree upon a
plan of settlement. AS soon as the
stockholders and depositors have
reached an agreement a charter will
be applied for. 1t will be an entirely
| new bank, under a new management
| and with new name, but it has not
yet been christened."
Sam B. HOugh, speaking for the de-
| positors' committee, said: Il believe
| the plan of reorganization which has
| been proposed will be ratified by both
| the stockholders and depositors. I
| know that a majority of the original
| depositors are in favor of the plan, but
J there is some fear that certain parties
| who were never friendly to the Missouri
| National, and who would just as soon
| there would not be another new and
| strong bank started here, may try to
| defeat the plan by buying up enough
claims of depositors to defeat the rat
| comes to a vote. l hardly think my
self, that there is anything in this. but
| strange things sometimes happens in
| Kansas City banking circles, and you
can't always tell. The meeting of the
| depositors will be held early next week.
| but the day has not been set and will
| not be until after the stockholders
| meeting on Monday
! Receiver t. B. Wallace was in Chica-
| go yesterday, partly for the purpose of
/ holding a consultation regarding the
reorganization of the bank with Comp
! troller Eckels, and partly to look after
! the valuable Omaha building in that
| city, which is part of the assets of the
| Missouri National.
Mr.. Lantry will arrive in Kansas City
this morning and will meet with sever
| al local capitalists, who have promised
| to take good blocks of the stock in the
new bank. When the stockholders
| meet on Monday those who control an
| ample majority will have fully deter
| mined on just how they are going to
| proceed.
Professor Blackmar, of the Kansas
| State university, will preside at the
( meeting of stockholders.
/