Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1905-07-21

KANSAS CITY, July 2O.-Up to the Gle
ing Of banking hours no furry affectln.
other local institutions had followed the
failure today of the City National bank Of
Kansas City. Nothing bordering on a run
was experienced at any OF the other local
banks, and. according TO the officers at
each place, none was expected. The City
National had been in a weakened condition
for some time. Its failure had been antici-
pated and therefore no surprise was shown
IN banking circles today when the an
nouncement was made that Il had been
taken in charge by Bank Examiner Ames.
Neither Mr.. Ames nor the failed bank $
officials or it's attorneys we're in position
to make a definite statement regarding the
banks condition.
The failure was due in a great measure to
the fact that the bank held upwards of
100000 of c. ]. Devlin's paper. which was
tied up in the recent failure Of the First
National bank Of Topeka, of which Mr..
Devlin was the principal stockholder. The
only other Kansas City bank that had held
Devlin paper was the American National.
c. s. Jobes, president of the American Ma
tional. stated today that the 1907 600 of
Devlin paper held at the time of the Topeka
failure had been purchased since then from
the American National bank by its direc-
tors.
Thus. 1t was stated. there was no cause
for a run on the American National. In
deed, It was announced by a member OF
the Kansas City clearing house that nc
other Kansas City bank would be permitted
to fail, in case of run, which was not
expected, and that the clearing house would
gladly have aided the City National bank
had it not been found that the latter carried
so much bad paper.
The Citizens National bank OF Eureka
Kan, and the First National bank Of
Toronto, Kan, both of which institutions
were headed by Edward Crebo, president
of the City National bank, had apparently
not been affected by the Kansas City fail
ure up to the closing hour today Telephone
messages from both points stated that the
banks would not close.
- Loan Becomes Due.
Some time ago the comptroller of the
currency at Washington instructed the off
GERS of the City National bank to repair
it's capital This was done by borrow
ing from local capitalist. Following the
failure of the First National bank of To.
peka the Kansas City capitalist became in
sistent upon repayment of his loan ant
this demand caused the officers of the City
National to decide upon closing their in
stitution.
Inc only Other bank In Kansas City Whicf
was caught in the failure OF the First Ma
tional bank OF Topeka was the American
National bank, which is said to hold up
wards of 5000 Devlin paper. 1t wa,
stated positively today TO the Associated
Press by a leading banker that the othel
Kansas City institutions would not permit
this bank to fail
There was no appearance of a run OF
other Kansas City banks at the opening
hour today.
The City National bank was organized II
1900 and is one Of the youngest of the ma
tional banking institutions in the city. II
capital is 10000 and 1t has deposits o
S,47664S. Its officers are: Edward Crebo
president: James c. Strean, cashier: Johl
Moore, vice president; Charles A. Loomis
second vice president.
The Last Statement.
The last statement or the City Nationa
bank. issued on May 20, 1906, showed tn,
following:
RESOURCES.
Loans Enrd discounts -----..--- O26 sa5 7