Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-12-05
,.e,naI Bank Of Commerce
Closed by Order OF the
Board Of Directors.
,ool7lrs S24,276.429.2e.
,.... asst Statement in August
I,,titutions Deposits Had
Been Reduced Hall.
I'm, of Clearing House Says 9th
o,rs VIII Not be Affected
Reopcuing is Doubtful

HrOIIlAiAhe ~
rit, Dec. 5.-The National
commerce Of Kansas CITY,
n'n' y d, the largest in the west,
o s.,osIts Of sls.O0O.Ooo, closed its
.'~ .,,, morning and was taken IN
~. by n national bank examiner up
si-''' - NJ the comptroller OF cur
OF ~ later two small outlying banks
'''. ~ ,bo commerce was interested.
!. stewards Bank Of Commerce and
n. Union Avenue Bank OF Commerce
also closed
RI. allure OF these banks had been
...s..,s5 for several days and but little
.,,,sment followed the announcement
!, ,ss news although crowds Of deposit
..-, Gathered about the doors Of these
,,,4tu.ons. The officials Of the Com
r,r., which is affiliated with many
.srt. here and IN other parts Of the
,s--bvest. express the opinion that
r,,s Of them will be seriously affected.
The failure is laid 10 the Withdrawals
o., outside banks within the past two
months OF sls.oooo00 Of deposits. They
erosct to reopen soon and say deposit
fors win be protected In full
Other local banks were not seriously
affected up 10 noon, and at several
banks heavy deposits were made.
The following statement was issued
9. noon by Dr. W. :. Woods, president
O., ihe National Bank Of Commerce, for
he board OF directors:
TO THE PUBLIC:
Much as we regret to do 50. we arc
compelled to close the doors Of the
Nououal Bank Of Commerce. but we
have not been able to collect money
non our borrowers as fast as the same
vas demanded by our depositors.
cusi by unjust and unfounded NJ
ur igorously circulated.
During his panic we have reduced
W deposits from S35, 500. 900 10 about
1 hbao thus paying out over the
NaINHA anu ~ AAAlAEAEA TO OANlNL
glk b this city and other cities
i,oul nso000 900 Of deposits. This. OF IT.
gt tells Of our resources. We have
-ade he fight of our lives. but could
D. sand the tide against US. We hope
be able 10 open up the bank in the
taT future Tor business. We don't be-
fge L possible for a depositor to lose a
.lar We beg your Indulgence and
/ Gbearance until out affairs can be ar
i lngsd TO the satisfaction OF all. We
i Fpraciaie sensibly the confidence our
Umenus customers, large and small.
ne placed in us. We hope TO show
ths end that we have been true to
his trust
The following notice was posted on
BE- door Of the bank at $50 this morn
This bank has been closed by order
ne board Of directors. II is in the
2nds Of James 7. Bradley. national
DIX examiner. by order Of the comp
io.er o. currency"
ne bank had been IN a weakened
laluon since its last statement, which
ls issued Aug. p last. At that time
was stated the bank owed the clear
mouse close 10 a million dollars.
nen NE financial disturbance came
"a ihe clearing house decided 70 is
~ Gearing house certificates, rumors
-saIalng the Commences condition in
-sssl until within the past few days
-l.tl1ls conferences Of other national
-.Ang oacia!s here We're held and
,4us OF Keeping the bank open were
.-lssed. Yesterday much surprise was
,rgsaea when the request OF the
!, l.p.,,oiler for a statement OF condition
.ilAs was not responded 10 promptly
~ Ie National Bank Of Commerce.
o.Nd local banks issued their state
u, showing a healthful condition.
,ne omcials Of the National Rank
e'uhlerce announced that its state
~. ~. YOU'D not be forthcoming. This
,,s,.qa further distrust In the banks
~, ,lln ton and after conferences lasting
800 early hours this morning tho
,,.,. house officials decided tbov
s ~ not aid the bank
ny statement ~ the National RAM,
s,, -l,ulInerce which appeared in Inc
\, lug papers, showed that since
so,i,.' cement OF Aug 22 last. the de-
\, az, naa been reduced from clos,
rst. ,''..' o,O0o 10 si6.942,6s4. Tho
M ii, men showed ano that the fem
isu, Eng discounts had been ont
wsT .tt'Vpo'0oO. The statement is-
'l mis- morning follows.