The news-democrat. (Providence, R.I.) 1906-1909, 1907-12-05

Kansas City, Mo-, Dec. 5.--Thc National
Bank OF Commerce of Kansas City. Mo.
failed to open its doors today and is in
the hands of the national bank examiner.
The bank is one OF the oldest here and
is the largest financial institution in the
city
The following notice was posted on the
door of the bank: This bank has been
closed by order of the board OF directors.
1t is i'm the hands OF James L. Bradley.
national bank examiner, by order OF the
comptroller of the currency"
The bank had been in a weakened con-
dition since it's last statement issued on
Aug. % last. 1t was stated then that the
bank owed the Clearing House close TO a
million dollars.
Yesterday surprise was expressed when
the request OF the comptroller for a state
ment of the condition of banks was not
responded to by the National Bank OF
Commerce. other local banks published
their statements, showing a healthy con-
dition. but the officials OF the Commerce
announced that it's statement would not
be forthcoming till this morning. This
created further distrust and after confer
ences lasting into the early hours of this
morning. the Clearing House officials de-
cided that they could not aid the falling
bank.
ITS RESOURCES.
When the statement OF the National
Bank OF Commerce appeared IL showed
that since the statement OF Aug % last
the deposits had been reduced from close
to s35,0OoO00 to $685., ,269. The statement
showed also that the item OF loans and
discounts had been cut down four millions
OF dollars.
The statement issued this morning fol-
lows:
Resources-Loans and discounts. sl2.Sos,-
$500; real estate, s697 7,54207; Ave per cent
redemption fund, $4,000; cash and sight
exchange. u. s. bonds and other high
grade bonds. $40 $50, ,23l. IS; total resources,
$24215, ,i29. %.
Liabilities-Capital stock sl,ooo0 900: sur
plus and undivided profits. sl,639. .734.55:
circulation account, $1,000, 900: due deposit
tors. sl6.9i2, 69i69. clearing house certifi-
Gates. ss,69i 600; Total liabilities, S2i27s,-
1925.
THE OFFICERS.
The principal officers OF the National
Bank of Commerce are: Or. W. S. Wood.
president: w. H. Wnants. vice president:
William A. Rule. cashier
Its directors and stockholders include
some OF the most prominent men In the
city.
ut. NOOU Is also TIeSloent OF the NOlil-
merce Trust company Of Kansas city,
which Is believed TO be In sound condi-
ton.
James r. Downing, president OF the
New England National bank. and head
of the Kansas City Clearing House as
sociation, expressed the belief that tho
failure OF the National Bank OF Com
merce would not involve deeply any other
Kansas City institution.
Tho National Bank OF Commerce held
the deposits OF numerous small banks In
this part OF the Southwest. There had
been no run by Kansas city depositors,
but many OF the outside banks caused
trouble by Withdrawing their funds on
deposit with the National Bank of Com
morcC.
The National Bank OF Commerce was
a United States depository and the Au-
gust statement showed these items among
its liabilities: United States deposits.
s227 gl3: deposits OF United States disburs-
ing officers SS2 9S6.
The individual deposits OF the National
Bank Of Commerce were among the larg-
est OF any bank in the city.
COMMENTS HOPEFUL.
Cashier Rule said. THE directors OF
the National Bank OF Commerce thought
that IL was best TO close temporarily at