The daily sentinel., 1907-12-05

DOORS
National Bank of Com
merce of Kansas
City is Heavily
Involved
DEPOSITS FALL
From $3O,OOO,OOO to $l7,
100000 Clearing House
Refuses Aid South
western Banks In
volved--Declares
Will Pay Out.
(By AssocIated Press. ]

Kansas City, Mo-, Dec. 5.!The
National Bank of Commerce of this
city did not open its doors this morn
ing.
The bank is one of the Oldest here
and 1t is the largest financial insti-
tuition in the city. 1t has long been
considered as one of the strongest
banks in the entire west.
James 7. Bradley, national bank
examiner, has been placed in con-
troll of the bank by order of the
comptroller of the currency.
The bank had been in weakened
condition since its last statement,
made on August 90. At that time
the bank owed the clearing house
nearly one million dollars
Tue bank oiu mot 81. .iond prompt
iy yesterday to the request of the
comptroller of the currency for a
statement of the condition of the In
stitution. similar request being
made of every national bank In the
country. and this failure to respond
promptly caused much surprise. as
all the other banks of the city Is
sued statements promptly showing
healthful conditions.
After conferences lasting until the
early hours of this morning the Kan
sas City clearing house officials de-
cided that they could not aid the
bank.
According to the statement of the
bank printed this morning the de-
posits have been reduced since Au-
gust 22 last from nearly s35,OOO,OO0
10 a little under s17,000,000.
The National Bank of Commerce
TO Of small
banks in this part OF the southwest.
What effect the failure will have on
these banks is problematic.
On August 20 the National Bank
of Commerce owed other national
hanks s13.299,450 and to state banks
and bankers 1t owed S9,S19,499.
There had been no run made by
tho denositors, but many outside
hanks have caused trouble by with
drawing funds they had on deposit
DIR. S. Woods is president of the
hank. and William A. Rule cashier.
The directors and stockholders IN
clude some of the most prominent
men of Kansas CITY
DIR. Woods is also president of the
Commerce Trust Company or Kan
sas CITY. That institution, however,
ls believed to be in sound condition
and since the last statement Its de-
nosits have Increased nearly $2OO'-
900. oo.oo
10 The United States depository, the
Iost statement showing that the gov
arnment had deposits In the insti-
tuition amounting to S227,9 ,9l5.
Tho hank was Interested liz many
,ocai enterprises and its individual
denosits is the largest OF any bank In
the city. -. so,,owed
80 announcement that the bank was
iced and a great crowd gathered
T., front of the doors, completely
hiockinp all traffic on the street.
Cashier Rule said this morning
that the depositors would not loss
lanes F. Downing. president OF
.ha clearing House Association, saiu
Sa considered the failure due to lack
~ conseryatism on the part OF the
ri, a oficials. None of the other
pani,s had found it necessary to ASK
60 aid from the clearing house ana
he considered them perfectly sounu'
Two small branches OF the Ma
.ional Rank of Commerce-ohe 10
oated at the Union stock yarus anu ~,
tbe other in the wholesale ulstriot -,
re vest bottoms-also suspehueu
this morning horch has de-
nosits of 100000, and the onroi ~,
Venue concern small deposlts' he
saiiure of these banks ala no. cadss ...,
ms on other banks, anu ueposi''
we're made as usual IN the ia''si'