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Before establishment of the
Federal Reserve System in 1913, business in the United States depended on a system of private banks which in turn used correspondent banks in larger cities to provide credit and liquidity. The National Bank of Commerce was the principal correspondent bank for bank
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was a U.S. bank of the late 19th and early 20th centuries. It first chartered as the Kansas City
Savings Bank in 1865. After a controlling interest was acquired by Dr. William Stone Woods in 1881, the bank became active in financing the regional growth of
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clearings in the area southwest of
Chicago and St. Louis. Because of this role, Commerce was at one point among the 20 largest banks in the United States, as measured by assets.
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on
December 5, 1907, after a six-week series of runs on the bank. The bank paid out its depositors in full and after recapitalization was returned to its previous owners.
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and areas to the southwest, especially in connection with the development of the city as a center of railroad transportation and distribution.
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The
National Bank of Commerce was later merged into the Commerce Trust Company, which became Commerce Bank of Kansas City, now part of
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175:"National Bank of Commerce, Kansas City, Mo. is closed"
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55:"National Bank of Commerce" Kansas City
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177:. The Reading Eagle. December 5, 1907.
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235:1907 disestablishments in Missouri
220:Defunct banks of the United States
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128:National Bank of Commerce
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196:"About Commerce Bank"
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155:Commerce Bancshares
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133:Kansas City
209:Categories
161:References
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