1092. American National Bank (Denver, CO)

View Charter #4159 on SPMC

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
4159
Charter Number
4159
Start Date
July 1, 1893
Location
Denver, Colorado (39.739, -104.985)

Metadata

Model
gpt-5-mini
Short Digest
ca1b2d7a901d430e

Response Measures

Accommodated withdrawals, Fed/other loan, Public signal of financial health, Capital injected, Partial suspension, Full suspension, Books examined

Other: Private shipments/receipts of gold and offers of federal aid (Controller Eckels) and use of private funds to tide banks over were reported as responses.

Receivership Details

Date receivership started
1896-07-25
Date receivership terminated
1897-01-07
OCC cause of failure
Losses

Description

Newspaper accounts from July 1893 report small depositors made a run on the American National during the Denver panic (July 18). Other dispatches (Aug. 17) state the American National had suspended earlier (reported as suspending July 1) and then resumed business Aug. 17. Sources are somewhat inconsistent on sequencing (some July 18 dispatches still describe runs at the American National), but clear facts: (1) run activity was reported during the Denver panic; (2) the bank had suspended and (3) it reopened on Aug 17, 1893. I therefore classify as run_suspension_reopening while noting ambiguity about whether the run precipitated the suspension or was reported amid an already suspended/souring situation.

Events (7)
1. November 13, 1889 Chartered
Source
historical_nic
2. July 1, 1893 Suspension
Cause
Local Banks
Cause Details
Suspension attributed to heavy withdrawals and contagion from failures/suspensions of other Denver banks and savings institutions during the July panic.
Newspaper Excerpt
The American National bank of Denver, which suspended July 1, has resumed business. (reported in Aug. 17 dispatches)
Source
newspapers
3. July 18, 1893 Run
Cause
Local Banks
Cause Details
Run occurred during citywide panic triggered by failures/suspensions of other Denver banks and savings institutions (e.g., Union National failure and others).
Measures
Banks paying demands except on time certificates (time deposits demanded to remain until expiration); officers attempted to reassure public.
Newspaper Excerpt
At the American National the small depositors who are not numerous made a run.
Source
newspapers
4. August 17, 1893 Reopening
Newspaper Excerpt
The American National bank, which suspended July 1, resumed business this morning. (Aug. 17 reports)
Source
newspapers
5. July 25, 1896 Receivership
Source
historical_nic
6. January 7, 1897 Restored To Solvency
Source
historical_nic
7. April 1, 1899 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (20)
1. July 18, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, July 18, 1893

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tion to draw upon,making It im possible to close their doore. The Colorado National and several others were equally good. The peo+ ple withdrawing their money were all small depositors. The banks are paying all demands except those on time certificates, demanding these to remain till the expiration of the time. President J. A. Thatcher of the clearinghouse saye: am confident that today will see the worst of this, and people will come to their senses. At a meeting of the clearinghouse last night we decided that we could not help the banks, and 10 some of them have gone to the wall. All of them, believe, have ample security to protect all their depositore, but unfortunately at this time cash and not security is what the majority of the people is clamoring for. At the State national bank quite a run is in progress. The officers appear to be in the best humor land say they are confident that they can weather the storm. Upt to noon everything was quiet at the Col rado national. It understood that half 11 million in gold was received there just before the doors opened this morning. Quite a crowd of people are about the doors of the Denver Na. tions. It was rumored that a run W&F in progress there but it was soon learned that the men of the Union Pacific employee were simply getting checks cashed fo the last month's work. "This bank is closed by orders of the board of directors," is a notice posted every entrance to the National Bank of Commerce. The officers inside refuse admission to outsiders. The condition of this bank is not known as it did not print a statement yesterday as was done by almost all the other banks. Joh H. Hanna of the City National said that they were in as good condition anybody. Hanna hopes to be able to control enough deposits to tide over. Several of the principal depositors made large deposits this morning. Some who owe the bank in the shape of notes but have cash deposits had payment refused on their checks. Liabilities subject to check are $559,808. Of this the officials control nearly two-thirds, 80 that the cash on hand, amounting to $333,338, will meet the demands of the email depositors. The Union National closed its doors this morning. and a notice was posted explaining that the bank had paid out B million dollars to the depositors in the last few weeks. It had realized on securities as rapidly as possibly but not fast enough. It has $1,600,000 in securities and owes approx. imately half a million. It is thought it will be able to realize on the securities when all the depositors will be paid in full. It expects to open again soon. The bank's resources ed sist of loans and discount, $1,622,689 and United States bonds to secure a circulation of hundred fifty thousand; cash and exchange $147,568; overdrafts $32,078; deposits $583,558. Due other nationnal banks $14,098; state bank $29,809; paper outstanding $170,000. President Wood. bury thinks it will reopen. The Commercial National closed its doors when it became evident from the size of the crowd outside that a run was to be inaugurated and a notice was posted: "Closed for liquidation, by the order of the board of directors." It has a capital stock of a quarter of a million, but only $2000 cash on hand. At the American National the small dei ositors who are not numerous made a run. The bank has a million capital and deals largely with men who handle big sume. The following are the first reports received: PANIC IN DENVER. DENVER, July 18.-The Union Na. tional bank has failed. It has a capital of $1,000,000. There is no statement yet. A run is now being made on the City National, German National, First National, Colorado National and all A eleven clearing house banks. panic ison. Later-The Commercial National has closed its doors. A notice on the doors saye: "This bank has gone into liquidation by order of the board of directors." The National Bank of Commerce has closed its doors. Ex.Governor J. A. Cooper is president of this bank.

2. July 19, 1893 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, July 19, 1893

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of the The failure the masses, vesterday located clearing of were each four other blocks within the the far and into streets surrounded, and until speofficers crowd gathered to the out were clear called police the for way Union truffic. 10o'clock a of with 000,000, capital National, not that they would notico posted the This their doors. startod the and Comno quickly National follow posted.ru of the Bank inercial then National and "Where asked: people on all started other Peoples run was banks, immediately thouNational to no groat The dest of of the extent National upon the having over appear to be with 60 per a private cent draw upon. First they on handdition close their doors. their all, deposits $1,500,000 impossible in National as others The mob fund of making The it Colorado are in are thdrawing equally their money deposit let being all small satisfied to in their holdor main banks. Accounts all ox. are The banks paying demandand time they rtificates, demand. the ing these until ing that expira remain As bank every crowded is no as rendering combeing tion clearing time. Institution the meeting it was sistance, stand each alone. house last and night gome pelled of the clearing to help banks, of which decided of them not went National Bank, quite a run is men Altho Stato is for of their in progrous a in large line waiting can get their ap. pear and women are 80 they of the bank and come officers of humor are say they storm. o'clock money. turn to to Confident The the best they can weather was overything National. of the "This bank of is board directors, to the at every entrance National the quiet Up at the 12 Colorado is closed by notice order posted Bank of of which Governor Commerce, is The offiCooper president. of but no amount been sufficers Job A. are indentraty or has to gain admis- is not pounding cient for newspaper condition men of public, as this bank vester offiThe the general statement of the banks cere day, was done City sion. known did to not print by a almost all National to other John R Hanna, they of felt the the any body. as selves $40,000 east Bank said good that condition borrowed in gold The be in bank as recently and is paying from this morning. the the deposite such and Several of deposits this putting can made large of bank the have at are hand and runs ac- on the bank spare. sums friends Those they are those who are who making have small posted had a counts Union National that Bank the bank 000 to notice approxime few The explaining mately $1,000, weeks. The had on realized it but paid out in the stated last that the rapidly bank as that notice depositor further its securities was not as fast enough in to suit possible, depositors. and owes that the bank securities It is thought upon been its socur paid in $500,000. will be able depositors realize have to realize. again Commercial when all The bank BOOD expects as can bank post- for notice: for full. business as National "Closed of diboard ed The the following by order of the in bad shape. only liquidation The bank $250,000 was and had jcan rectors. It has cash in of the rushed bank to the Amer and $2,000 in depositors bank this morning The has than Small National out their deposits. less sidall depositors capital. as city, began American to draw National any bank other of its dealing handled The $1,000,000. in the with who ot the who have been largely vico president and had to the big money. said that those thoso who paid The grocera depositors draw butchers money are with checks bank in person to in private a with noon. money Mercantile capital Bank, stock a of The $100,- fail. of the stitution, its doors at failure which 000, closed caused by Bank, the through audi F. ure was Union National O.C. Girda, Robinson the clip Pub- fortor.is cleared. president of W. the Republican oldest and been merly tishing treasurer Company, dividuals one of the in the state, and exeitement upon the respected made the assignee demands banks after una money continued it about al when o'clock all the banks the bated entirely until subsided State National line and of deseemed to increaso is bank National, Utah where the instead of to underato from way City reach here early special This bearing train on $400.000 the and that ved First little National after closing Bank 1 o'clock hour. recei This and money Moffatt President New nt the York. for Icua, bullion he the before the of close, failure Savings with Bank, Its $100,000, the hour dozen people hardly half the institutions except First president of the

3. July 19, 1893 Wheeling Register Wheeling, WV
Article from Wheeling Register, July 19, 1893

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AT GREAT DENVER. EXCITEMENT of the savings Banks Stirs The the Failure People- Through No COL., such July DENVER, in all the ever was West witnessed shortscene as could be seen here when the for business. after 9 o'clock, open their doors savings banks The the excited supposed The to failure of the masses. located yesterday clearing had house each banks, other, were eleven within four blocks far of into the and streets special the surrounded. gathered and until officers to clear the way Napolice crowd were called At 10 o'clock out $1,060,000,1 the Union for tional, traffic. with a capital would of not open and their folnotice that they started the panic National This Commercial Nadoors. lowing quickly the notice and then and the people asked: posted similar of Commerce, Arun started on tional Bank Where will this stop?" on all the other upon mediately though to no great The extent First Na. all, the banks, People's National. be the soundest of of their tional appears over to 60 per private cent. fund of they having on hand, with to draw upon. their $1,500,000 deposits in impossible addition to close and sevmaking it Colorado National as good conditheir doors. eral others The are in equally money tion. withdrawing the large holdThe mob, depositors, their accounts are being all small satisfied " let The banks cer- are ers remain in all the demands. banks excegt that on time these re- As is paying they demanding expiration of time. bank tificates. main until the crowded the clearing each assistance, being the every house is rendering compelled no to clearing stand institution At the meeting of decided not them to the help alone. house last banks, night it and was so some of weat under. of which Bank, At the State National president, quite number a run of J. D. McNeil is progress and in line e waiting their for men is to and women come are so they can bank get apmoney. their turn The to officers best of of humor the weather and say the Up storm. pear to be confident they in the can this writing, Naat the they are to 12 o'clock, Colorado order tional. is of the board everything "This is quiet bank of is closed directors, by at every posted of Comof notice the National Bank Job A. the entrance to which ex-Governor The officers are or no but been Cooper, merca is President. amount of pounding sufficient for The of entreaty inside has so to far gain admission. known to condition its newspaper men this bank is officers not did not done the general a statement public yesterday banks. as was John print almost all of the City other National to Bank, be in R. by Hanna, of the felt themselves anybody The the said good that they condition borrowed as $40,000 morn- from as bank east recently and is paying in gold this depositors ing. Several of deposits the (incipal this putting morning in such and have friends made large of the bank are at band and runs can on the spare. sums bank as Those are they those who are who making have closed small ac- its counts. Union National and Bank a notice was had that The this morning. the bank depositors posted doors explaining approximately $1,000.00 The to nothat paid out in the last weeks. bank had reas posOD tice further its stated securities not as rapidly fast enough in se- to 000. alized sible, but that it It was approximately has 000 $500,suit depositors. and owes the bank will realize in curities It is thought upon that its securities. full paid for be able all to depositors will to open be axain The when bank soon expects as can realize. Bank closed A business The Commercial morning National within notice a few minits doors after this the opening. "Closed for liquidaposted utes on the door: of the Board shape. of Direc- It tion, by The order bank was of $250,000, in bad and Small had has tors." capital stock cash in the American bank. Naonly $2,000 rushed in to the and began to depositors tional Bank this deposits. morning The depositors American out their small $1,000,000, draw Bank hasless capital, been its National any other of its dealings have money. largely of than in the city, with as men who handle the bank big said that are The vice are and money butcher draw those those who who paid The grocera depositors had money. to with checks. in person to a private instito bank Mercan Bank, stock of $100,000. failure The with a capital noon. The tution its doors at failure of the Union it was closed caused by the through which Auditor, National Bank, the City formcleared. C. Girda, W. F. Robinson, Pubpresident. T. of the Republican the oldest and lishing erly treasurer Company, ind one dividuals of in the State, 2 about most respected made the assignee. until has been excitement almost continued ur entirely received subsided $100. o'clock The when National o'clock Bank and $250,000 from act The a First little closing after hour. This due came President the was money sold. more New York. bullion It he had failure of the Mercantile Moffatt Just before for Savings the close Bank, the with & capital of the among bankers over men business be will $100,000 The general was opinion that obliged panic to is close. less than 8.000,000 and and that no banks by bankers that from the banks in regular Itis stated has been months drawn or this, lines $3,000, in the city. the last gone three the East is $5,000,000 hoarded vaults are 000 business, has but The there safety deposit full. BUSINESS AND FINANCE.

4. July 19, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, July 19, 1893

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President Woodburn thinks they will reopen. The Commercial National closed its doors when it became evident from the size of the crowd outside that a run would be inaugurated, and the notice posted said: 'Closed for liquidation; by order of the board of directors." It has a capital stock of $250,000 and only $2,000 cash on hand. At the American National small depositors. who are not numerous, made a run. The bank has $1,000,000 capital and deals largely with men who handle big sums. The excitement and demand upon the banks after money continued unabated until about 2 o'clock, when it subsided at all the banks except the State National and German National, where depositors seemed to increase instead of diminish. Just before the close the failure of the Mercantile Savings bank, with a capital of $100,000, was announced. Its assets are sufficient to pay all liabilities in time. D. H. Moffat, president of the First National, stated that the deposits at his bank. during the day greatly exceeded the withdrawals. The con tant drain on the banks by scared depositors has brought about a crisis. It is stated by bankers that no less than $8,000,000 were withdrawn from the banks in the last three months. Of this at least $5,000,000 is locked up in this city. Late this afternoon, two more savings banks assigned, the North Denver Savings bank and the private bank of Stephens & Hanchett, known as the Capital Savings banks. No statement of assets or liabilities is filed. The deposits are not thought to have been heavy.

5. July 20, 1893 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, July 20, 1893

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STILL SHAKEY At Denver, Although the Report Says it Looks Better. DENVER, Col., July 20.-There will apparently be no more bank failures in Denver. The panic wore itself out yesterday with the failure of the People's, German and State National banks. This morning when the Colorado, Denver City and American National banks opened their doors, there was hardly a dozen depositors in all of them at the paying tellers' windows. At the First and Colorado National banks a long string of depositors reaching nearly to the street were lined up in front of the receiving teller's window, and money was going back into the bank's vaults, almost as rapidly as it was withdrawn during the past three days. The German, State and People's National banks could pay three for one, if they could only realize on securities. There may be a few commercial failures in the city within the next few days as a result of the suspension of banks, but it is believed, that in no instance, whether banking or commercial house, will failure be complete and `resumption of business will surely follow shortly. It is stated today that the McNamara Dry Goods House, which failed Monday for $260,000, have settled with their principal creditors, and will resume business Monday.

6. July 20, 1893 The Waco Evening News Waco, TX
Article from The Waco Evening News, July 20, 1893

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FAILURE OF DENVER BANKS. The Panic is Ended and no More Failures Expected. By Associated Press to the News. DENVER, July 30.-There will apparently be no more bank failures in Denver. The panic wore itself out yesterday with the failure of the People's, the German and the State National banks. This morning when the First, Colorado, Denver City and American National banks opened their doors there was hardly a dozen depositors in all of them at the paying tellers' windows. In the First and Colorado National banks a long string of depositors, reaching nearly to the street, were lined up in front of the receiving tellers' windows, and money was going back into bank vaults almost as rapidly as it was withdrawn du ring the last three days. The German, State and People's National banks could pay three dollars for one if they could realize on securities. There may be a few commercial failures in the city within the next few days as the result of the suspension of the banks, but it is believed that in no instance, whether a banking or commercial house, will the failure be complete and the re. sumption of business will surely fol!ow shortly. It is stated today that the MeNamars dry goods house, which failed Monday for $260,000 have settled with their principle creditors and will resume business Monday.

7. July 20, 1893 Evening Star Washington, DC
Article from Evening Star, July 20, 1893

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AFFAIRS OF BANKS. A Better Condition of Things Reported From the West. DENVER, Col., July 20.-There may be no more bank failures in Denver. The panic wore itself out yesterday with the failure of the People's, German, and State national banks. This morning when the First, Colorado, Denver, City and American national banks opened their doors there was hardly a dozen depositors in all of them at the paying tellers' windows. In the First and Colorado nationals a long string of depositors reaching nearly to the street were lined up in front of the receiving teller's windows and the money was going back into the bank vaults almost as rapidly as it was withdrawn during the past three days. The German. State, and People's nationals could pay $3 for $1 if they could realize on securities. There may be a few commercial failures in the city within the next few days as a result of the suspension of banks, but it is believed that in no instance, whether a banking or commercial house, will the failure be complete, and that resumption of business will surely follow shortly. It is stated today that the McNamara drv goods house which failed Monday for $260,000 have settled with their principal creditors and will resume business Mondav. The cheering news from Washington has had a wonderful effect upon Denver this morning. The dispatch from Controller of the Currency Eckels. to the effect that he would give every posssible aid to the banks of this city, is applauded on every side. Bank Examiner Adams, to whom the telegram was addressed, is besieged by excited people anxious to hear a confirmation of the good report and get an expression from him. Mr. Eckels comments on the foolish course of those Denver citizens who had lost confidence in the banks, are looked upon in a most righteous light. The newspapers are running off extras announcing the news and already things begin to wear a bright aspect. SAN BERNARDINO. CAL., July 20.-The national bank examiners who have been looking into the affairs of the First National Bank of this city have made a report to Controller Eckels, recommending that the bank be allowed to open at once. They state they found the affairs of the bank in good condition. PEORIA, ILL, July 20.-All fears of trouble at the banks as a consequence of the failure of Oberhauser's private bank Saturday have died away. Preparations have been made to stand any possible run, but none materialized. All the savings banks have now taken advantage of the sixty day notice clause governing withdrawals. Nashua, N. H., July 20.-The Security Trust Company closed its doors this morning. The bank has not met with losses. but stopped business on account of the withdrawal of deposits. The treasurer states that the bank will be able to pay all depositors in full. It has capital and surplus amounting to $250,000, which must be paid out before loss can come to the depositors. DENVER, CoL., July 20.-The First National Banks at Canon City and Grand Junction, this state, failed to open their doors this morning. It is probable the failures were caused by the suspension of the Denver banks. The New York Banks in Good Condition. NEW YORK, July 20.-Charles M. Preston, state bank examiner, was in this city yesterday. He spent most of the day in Wall street. calling upon a number of the bankers, with whom he discussed, informally, the condition of the banks in this city and state. "The banks of this state," he said, "generally are in good condition. anticipate no failures. The last report from those that come within my jurisdiction was on June 1, and the general average of the banks was sound at that time. Partial reports received since that time show no change. I do not think any of the banks need my attention. with the exception of the two or three which ceased to do business a month or 80 ago. So far as my examination goes, all the banks are abundantly secured, and the only possibility of trouble might come from a run at some particular time when there was 8 lack of ready cash. The banks are holding as much cash as possible. Depositors have no difficulty in getting their money when they want it. The bankers of this city are deserving of great praise for the promptness with which they sent money to Chicago when there were threats of a crash among the banks there. About $8,000,000 were sent and that action probably saved serious trouble in that city. Had the New York banks not done this a panic in Chicago might have occured."

8. July 21, 1893 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, July 21, 1893

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Panic Over in Denver. DENVER, Col., July 20. - There will apparently be no more bank failures in Denver. The panic wore itself out yesterday with the failure of the People's, German and State National Banks. This morning when the First, Colorado, Denver, City and American Nationals opened their doors there was hardly a dozen depositors in all of them at the paying teller's windows. In the First and Colorado Nationals a long string of depositors reaching nearly to the street were lined up in front of the receiving tellers' windows, and the money was going back into the bank vaults almost as rapidly as it was withdrawn during the past three days. The German, State and People's Nationals could pay $3 for $1 if There they could realize on securities. may be a few commercial fallures in the city within the next few days, as a result of the of banks, but it is believed that in no instance, a or a commercial failure be and banking suspension complete, that house, resumption whether will the of business will surely follow shortly. It is stated today that the McNamara dry goods house, which failed Monday for $260,000, have settled with their principal creditors and will resume business on Monday. Run On Banks in Greeley, Col. GREELEY, Col., July 20.-The Union Bank closed its doors at 1p. m. yesterday, and half an hour later the Greeley National pulled down its blinds and turned the key in its door. The Union's statement says that owing to the suspen sion of certain Denver National banks, which had on deposit several thousand dollars of its money, and the fact that there was a steady withdrawal of deposits, about $80,000 in the past 90 days, they were compelled to suspend business. They say their liabilities are about $100,000, with assets and paid up capital $300,000. As soon as the fact of the suspension ot these banks became known a steady run was made on the First National, but it continued to honor all checks and drafts, and even after the regular closing hours cashed two checks presented. On Change in Gotham. NEW YORK, July 20.-There was a sensational decline in general electric securities in the stock exchange after midday. The stocks broke 46 1-2, against 55 3-4 early, the debenture fives sold down to 74 regular. The stock| 1 is absolutely without support and the same crowd in the stock exchange which has been prominent in breaking the stock from 100 down, were conspicuous in today's movement. There were heavy liquidations, holders being unable to stand the pressure any longer. One report was that the company had lost a suit at the West, involving an incandescent lamp patent. Other rumors affeeting the property were of a highly sensational character and up to a late hour this afternoon had not been traced to any authentic source. New Hampshire Bank Enjoined. FARMINGTON, N. H., July 20.-The Farmington Savings bank was enjoined from doing business this afternoon upon the petition of the bank commissioners because of the inability of the institution to realize on its assets, the uneasiness of depositors caused by losses on investments and to prevent a run on the bank. This Plant Cost $1,000,000. SAN FRANCISCO, July 20.-Attachments aggregating several thousand dollars have been filed against the Union Stock Yards company whose packing establishment is at Rodoe, Contra Costa county. The immense,plant, it is said, has practically shut down. The plant cost $1,000,000 and was started May 15. Money Is Tight and the Distillery Closed. FRANKFORT, N. Y., July 20.-A sensation was caused in business circles here today by the assignment of Col. E. H. The Taylor, Jr.. the famous distiller. liabilities are not given out. It is said they are far exceeded by assets. The tightness of the money market caured the assignment.

9. July 21, 1893 The Wheeling Daily Intelligencer Wheeling, WV
Article from The Wheeling Daily Intelligencer, July 21, 1893

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THE PANIC OVER. Denver Banking Houses will All Resume. Matters Settle Down. DENVER, July 20.-There will apparently be no more bank failures in Denver. The panic run itself out yesterday with the failure of the People's, German and State national banks. This morning when the First Colorado, Denver, City and American nationals opened their doors there was hardly a dozen depositors in all of them at the paying teller's window. In the First and Colorado nationals a long string of depositors reaching nearly to the street were lined up in front of the tellers' windows and the money was going back into the bank vaults almost as rapidly as it was withdrawn during the past three days. The German, State and People's Nationals could pay $3 for $1 if they could realizo on securities. There may be n few commercial failures in the city within the next few days as a result of the suspension of banks, but it is bolieved that in no instance, whether a banking or commercial house, will the be follow tion failure of business complete will and surely that resumpshortly. It is stated to-day that the McNainara dry goods house which failed Monday for $200,000 have settled with their principal creditors and will resume business Monday.

10. July 21, 1893 New-York Tribune New York, NY
Article from New-York Tribune, July 21, 1893

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DENVER IN CALM MOOD. DEPOSITORS PUTTING THEIR MONEY BACK IN THE BANKS. CONTROLLER ECKELS'S MESSAGE APPRECIATED --NO MORE FAILURES REPORTEDHOPE OF RESUMPTION. Denver, July 20.-There will apparently be no more bank failures in Denver. The panic wore itself out yesterday with the failure of the People's, German and State National banks. This morning when the First. Colorado, Denver, City and American National banks opened their doors there were hardly a dozen depositors in all of them at the paying tellers' windows. In the First and the Colorado, however, long strings of depositors reaching nearly to the street were lined up in front of the receiving tellers' windows, and the money was going back into the bank vaults a'm most as rapidly as it had been withdrawn in the last three days. The German, State and People's could pay $3 for S1 if they could realize on securities. There may be a few commercial failures in the city within the next few days as a result of the suspension of banks, but it is believed that in no instance, whether a banking or commercial house, will the failure be complete, and that resumption of business will surely follow shortly. It is stated today that the McNamara drygoods house, which fail Monday for $260,000, has settled with its principal creditors and will resume business on Monday. The dispatch from Controller of the Currency Eckels to the effect that he would give every possible aid to the banks of this city is applauded on every side. Bank Examiner Adams. to whom the telegram was addressed, was besieged by excited people anxious to hear a confirmation of the good report and get an expression from him. Mr. Eckels's comments on the foolish course of those Denver citizens who had lost confidence in the banks are looked upon in a most righteous light. The newspapers ran off extras announcing the news, and things began to wear a bright aspect. The officers of the several closed banks all informed the public that they would be able. to pay every ceat due to customers. But in some cases it will take some time to realize on securities. It is learned that heavy withdrawals have been made from several of the banks during the last few months, which would indicate that some of the far-seeing ones anticipated trouble. such as has come upon the city in the last few days. It is noticeable that few of the merchants or business men of the city withdrew their deposits, the runs being made principally by the working people and poorer classes of customers. The newspapers feel greatly the distress, every daily excepting one having curtailed expenses by reducing its size using larger type. Difficulty in making collections is given as the cause. Bank Examiner Adams, who came up hurriedly from Pueblo to look into the condition of affairs, said this morning that S0 far as he had been enabled to make an inspection of the suspended banks, he did not believe that their condition was so serious as many were led to believe. He would, however, begin at once a thorough examination of the several institutions, and would in a few days be able to make a more extended and satisfactory report. The opinions of the leading financiers in the East to the effect that the crisis would be soon passed will doubtless have a beneficial effect in restoring confidence among the people here. Those banks which have not suspended transacted business as usual this morning. President D. H. Moffett, of the First National, is greatly pleased with the news from Washington, and predicts an early resumption of business.

11. July 22, 1893 Arizona Weekly Citizen Tucson, AZ
Article from Arizona Weekly Citizen, July 22, 1893

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DENVER. Colo., July 18.-No scene was ever witnessed before like one this morning shortly after the hour when banks opened for business. The failure of three sevings banke yesterday had excited the masses and at the hour of opening the streets were crowded with anxious depositors. Eleven clearing house banks, located within four blocks of each other, were surrounded and far into the streets the crowds gathered until the police were called to clear the way for the traffic. At 10 o'clock the Union National, with a capital of $1,000,000, posted notice that they would not open the doors. This started the panic and following quickly, the Commercial National bank posted a similar notice. Then the National Bank of Commerce run immediately started one on the other banks though to no great extent upon the Peoples National. The First National appears in unexceptionable condition, having over sixty per cent of deposits on had with a private fund of a million and a half in addition to draw upon, making it impossible to close their doors. The Colorado National and several other are equally good. The mob withdrawing their money are all smali depositors. The banks are paying all demands except on time certificates, demanding that they remain there till the expiration of the time. President J. A. Thacher of the clear-house said: "I am confident today will see the worst of this and the people wil will come to their senses. At a meeting of the clearing house last night we decided we could not help the banks and so some of them have gone to the wall. The Union National bank, which failed, has a capital of $1,000,000. No statement yet. # RUNS ON ALL OF THEM. A run is now being made on the City Nationsl, German National, First National, Colorado National and all of the eleven clearing house banks. A panic is now on. LATER-The Commercial National has closed its doors. The notice on the door says: "This bank has gone into fliquidation by order of the board of directors." The National Bank of Commerce has closed its doors. Ex-Governor Job A. Cooper is president of this bank. At the State National bank a big run is in progress. The National Bank of Commerce has closed. Its condition is not known. The Union National closed after paying out during the last few weeks $1,000,000 to depositors. It owes $500,000. The Commercial National has closed for liquidation. It has a capital stock of $25,000. There is a run on the American National, but it is not serious; the bank has $1,000,000 capital. IN THE EAST. TOLEDO, Ohio, July 18.-The Citizens bank, the most prominent bank in Harden county, failed this morning. No statement. FORT SCOTT, Kans., July 18. The First National bank, the oldest financial institution in this part of the country, has failed. VALETTA, Malta, July 18. In the court martial resulting from the sinking of the British warship Victoria Lord Cifford, flag lieutenant of the squadron, testified that after the collision Admiral Tryon said to him: "It was ali my fault." PORT TOWNSEND, Wash., July 18.-- The man-of-war Mohican was fired upon and disabled June 25 in Bering sea by the Hawaiian steamer Alexandria, which sailed from San Francisco last April 1. The Mohicau discovered the Alexandria in the act of raiding seal rookeries and tried to intercept her, firing two shots across her bow. The Alexandria returned with a cannon fire, striking the Mohican amidships and disabling her engines. The Mohican went to Alaska for repairs and the Alexandria escaped. # SEIZED BY THE RUSH. PORT TOWNSEND, Wash.., 18. The schooners Alexandria and St. Paul were

12. July 22, 1893 Mineral Point Tribune Mineral Point, WI
Article from Mineral Point Tribune, July 22, 1893

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Denver, July 18.-The Union National bank has failed. It has a capital of $1,000,000. No statement is yet made. A run was made on the City National, German National, First National, Colorado National, and all the clearing house banks today. A general panic is on. The Commercial National has closed its doors. The National Bank of Commerce has also closed its doors. Ex-Governor J. A. Cooper is president of the bank. The McNamara Dry Goods company, one of the largtst houses in the world, was closed by attachment this morning. Liabilities a. $250,000; assets unknown. President J. A. Thatcher, of the clearing house says: "I am confident today will see the worst of this and the people will come to their senses." At the State National bank quite a run progressed. The officers appeared in the best of humor, and say they are confident they can weather the storm. The Commercial National closed its doors when it became evident a run would be inaugurated, and a notice was posted: "Closed for liquidation, by order of board of directors." It has a capital stock of $250,000 and only $2,000 cash on hand. At the American National small depositors, who are not numerous, made the run. The bank has $1,000,000 capital, and deals largely with men who handle big sums of money. The Mercantile bank, a private institution, with a capital of $100,000, failed at noon. The failure was caused by that of the Union National. Hyman & Company proprietors of the Beehive store, and McWhirter & Dipps, dealers in mantels and tiles, and Eagle & Harris, dry goods, have assigned. The excitement and demand upon ne banks continued unabated until about 2 o'clock when it subsided at all the banks except the Utah State National and the German National where the depositors seemed to increase instead of diminishing. Just before the close the failure of the Mercantile Savings bank with a capital of $100,000 was announced. Its assets are sufficient to pay all liabilities in time. The constant drain on banks by scared depositors brought about a crisis. It is stated by bankers that no less than $8,000,000 has been drawn from banks in the last three months. Of this at least $5,000,000 is locked up in this city. Late this afternoon two more savings banks assigned. The North Denver Savings bank and the private bank of Stephens & Hanchett, known as the Capital Savings bank.

13. July 27, 1893 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, July 27, 1893

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FINANCIAL DISTURBANC BAD STATE OF AFFAIRS AFFECTI ALL PARTS OF COLORADO. Thirty Thousand Men Thrown Out of ployment by Shutting Down of Mines Smelters and Dependent Institutions. Numerous Business Failures. DENVER, July 20.-There will parently be no more bank failures Denver. The panic wore itself yesterday with the failure of Peoples, German and State Nation banks. This morning when the Colorado, Denver City and Americ National banks opened their there were hardly a dozen deposite in all of them at the paying celle windows. In the First and Colora National banks long strings of itors reaching nearly to the street lined up in front of the receivi 0 window and money was back into the bank vault almost rapidly as it was withdrawn the past three days. The Germa State and Peoples Nationals could three for one if they could realize securities. There may be a few commerc failures in the city within the next days as a result of the suspension bauks. but it is believed that in no stance, whether banking or cial houses. will the failure be plete and resumption of busin SS surely follow shortly. It is stated day that the McNamara dry house which failed Monday for 000 have settled with their princi Monday. creditors and will resume busin UNEMPLOYED LABOR DENVER, Colo., July 20,-The

14. July 27, 1893 Wood County Reporter Wisconsin Rapids, WI
Article from Wood County Reporter, July 27, 1893

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DOINGS AT DENVER. Depositors Hustling Money Back Into Banks' Vaults. Denver, Col., July 20.-There will be no more bank failures in Denver. The panic wore itself out yesterday with the failure of the People's, German and State National banks. This morning when the First, Colorado, Denver, City and Amerian National opened their doors, there was hardly a dozen depositors in all of them at the paying tellers' windows. In the First and Colorado nationals a long string of depositors reaching nearly to the street were lined up in front of the receiving teller's windows and the money was going back into the bank vaults almost as rapidly as it was drawn during the past three days. The German, State and People's nationals could pay $3 for $1 if they could realize on securities. There may be a few commercial failures in the city within the next few days as a result of the suspension of banks, but it is believed that in no instance, whether a banking or com mercial house, will the failure be complete A resumption of business will follow shortly. It is stated today that the McNamara dry goods house, which failed Monday for $260,000, has settled with the principal creditors and will resume business Monday. While the situation in Denver is quieting down the effect of the local bank failures is being felt in interior towns in the state. Word was received here today that the First National bank at Canon City and the First National at Grand Junction, this state, failed to open their doors this morning. No particulars are at hand, but it is probable the failures were caused by the suspension of the Denver banks. The Flanders dry goods house, occupying five store fronts and five stories high on Sixteenth street, was attached this morning by H. N. Bradley, of Boulder, Col., for $24,000. There is no definite statement of the condition of the firm available. Competent judges place the assets at $200,000 wih liabilities at $25,000. The failure was caused by the suspension of the People's National bank to which $25,000 was due.

15. August 18, 1893 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, August 18, 1893

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IN THE BUSINESS WORLD. Denver Banks Are Reopening-More Gold Arriving. WEST SUPERIOR, Wis., Aug. 17.-The street car employes struck this morning on a 10 per cent. cut in wages. DENVER, Aug. 17.-The American National bank. which suspended July 1, resumed business this morning. NEW YORK, Aug. 17.-The steamer Lahn arrived with $672,055 of gold from South Hampton and 1,047,500 france from Paris. ST. PAUL, Aug. 17.-Acting General Manager Kendrick has been appointed general manager of the Northern Pacific by the receiver. LONDON. Aug. 17.-Three hundred and fourteen thousand pounds of gold was withdrawn from the Bank of England today for shipment to the United States. NEW YORK, Aug. 17.-The steamer Munchan from Bremenhaun has arrived with $225,000 in gold. Bankers are in receipt of cables advising them of further heavy consignments. CINCINNATI, Aug. 17. - The Standard Wagon company, the largest company of its kind in the United States, assigned this morning to Grant H. Burrows. Assets, $1,000,000; liabilities, $700,000. DUBUQUE, Iowa, Aug. 17.-The First National bank. one of the oldest institutions in the city, with a capital of $200,000. suspended this morning. The last statement showed deposits of $528,890. The failure is due to withdrawals. CHICAGO, Aug. 17.-A proposition was made to-day to creditors of John Cudahy which will yield $1,300,000 instead of $800.000. John's brothers, Michael, Edward and Patrick. have signed a contract to pay the creditors $500,000 in yearly install. ments of $100,000 in addition to the securities which John has heretofore furnished. PITTSBURG, Aug. 17.-The Oliver Iron and Steel company. one of the largest concerns in the country, went into the hands of a receiver to-day on application of the National Tube Works company of New Jersey and E. c. Converse of New York. The capital of the company was $1,600,000; apparent indebtedness $60,000 and bonded indebtedness $585,000. H.W. Oliver was appointed receiver. The company has extensive plants in Pittsburg and Allegheny and employs 4,000 men. It is also largely interested in coke and natural gas. Its sales aggregate $5,500,000 annually.

16. August 18, 1893 The Yellowstone Journal Miles City, MT
Article from The Yellowstone Journal, August 18, 1893

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Denver Banks Resume. DENVER. August 17. The American National bankwhich suspended July 1st. resumed this morning. DENVER. August 17. The National Bank of Commerce reopened for business to-day, with almost a hundred per cent. of its liabilities on hand. Three more of the suspended banks are expected to open by Sept. 1st.

17. August 18, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, August 18, 1893

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YET THEY GO DOWN. The Financial Cloud Hangs Low in the Eastern Sky. There Is a Brightening in Spots, but Still the Storm Is Not Over. Special to THE MORNING CALL PITTSBURG, Aug. 17.-The Oliver Iron and Steel Company, one of the largest concerns in this country, went into the hands of a receiver to-day, on the application of the National Tube Works Company of New Jersey and E. C. Converse of New York. The capital of the company is $1,000,000; apparent indebtedness, $600,000: bonded indebtedness, $585,000. H. W. Oliver was appointed receiver. The company has extensive plants in Pittsburg and Alleghany and employs 4000 inen. It is also largely interested in coke and natural gas, The sales aggregate $5,500,000 annually, George T. Oliver. president of the Oliver and Roberts Wire Company, said: "The appointment of a receiver for the Oliver Iron and Steel Company will not affect the other Oliver operations under my active egement. These companies, like other siness interests, are suffering from the gency in money and the unprecebusiness depression, but so far as I now see, they are fully able to meet liabilities." NDIANAPOLIS, Aug. 17. -Receiver Hawof the Indianapolis National Bank a a sworn statement to-day which indicates that perjury was committed by the bank's officers in making tax returns. CHICAGO, Aug. 17.-A proposition was made to-day to the creditors of John Cudaliy which will yield $1,300,000 instead of $800,000. John's brothers, Michael Edward and Patrick, have signed a contract to pay the creditors $500,000 in yearly installments and $100,000 in addition to the securities which Cudahy heretofore furnished. DENVER, Aug. 17.-The National Bank of Commerce reopened for business today with almost 100 per cent of its liabilities on hand. Three more of the suspended banks are expected to open by September 1. The American National Bank, which suspended July 1, resumed business this morning. DUBUQUE, Aug. 17.-The First National Bank, one of the oldest institutions in the city, with a capital of $200,000, suspended this morning. The last statement showed deposits of $520,890. The failure is due to withdrawals. CINCINNATI, Aug, 17.-The Standard Wagon Company, the largest company of its kind in the United States, assigned this morning to Grant H. Burrows. The assets are $1,200,000; liabilities, $700,000. NEW YORK, Aug: 17.-Davis & Co., wholesale dry-goods dealers of this city and Chicago, assigned to-day. The liabilities and assets are about $200,000 each; Stringency of the money market is the cause of the failure. HUNTINGTON, Pa., Aug. 17.- The national bank at Wyndham, Bedford County, closed its doors to-day. The bank was operated by John K. and George B. White, who besides operated four large tanneries located at Wyndham, Dry Run and Manns Choice, which were also forced to close down. The liabilities are estimated at $350,000, with assets of $450,000. PORTLAND, Or., Aug. 17.-Depositors of the suspended Portland Savings Bankheld a meeting this afternoon and appointed a committee of five to wait upon the stockholders of the suspended bank and request them to pledge their individual property as a guarantee that the depositors of the bank will be paid in fill. It is understood that D. P. Thompson has resigned the receivership and that H, H. Northrup will succeed him.

18. August 18, 1893 The Herald Los Angeles, CA
Article from The Herald, August 18, 1893

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Denver Banks Resuming. DENVER, Aug. .-The American National bank, which suspended July let, resumed business this morning. The National Bank of Commerce aleo reopened for business today, with almost 100 per cent of its liabilities on hand. Three more of the suspended banks are expected to open by September 1st.

19. August 18, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, August 18, 1893

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TWO DENVER BANKS REOPEN. Three of the Others Will Do So Before September 1. DENVER, Aug. 17.-The American National bank, which suspended July 1, resumed business this morning. The National Bank of Commerce reopened for business today with almost 100 per cent. of its liabilities on hand. Three more of the suspended banks are expected to open by September 1.

20. August 18, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, August 18, 1893

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TELEGRAPHIC BREVITIES. Treasury purchases of silver yesterday was 164,000 ounces at $0.7260. A cable from Antwerp yesterday reported six new cases of cholera, five of them fatal. The American National bank of Denver, which suspended July 1, has resumed business. The street car employes of West Superior. Wis., struck yesterday on a 10 per cent. cut in wages. The Sons of Veterans in convention at Cincinnati selected Davenport, Ia., as the next place of meeting. Colonel Brannan, charged with being the leader of the mob hanging the Italian, Arrata, in Denver, has been acquitted. The New York clearing house committee issued $365,000 in certificates yesterday. The total to date is $37,387,000. Acting General Manager Kendrick has been appointed general manager of the Northern Pacific railroad by the receiver. Six hundred and fourteen thousand pounds in gold was withdrawn from the Bank of England yesterday for shipment to the United States. The steamer Munchan from Bremerhaven has arrived in New York with $250,000 in gold. Bankers are in receipt of cables advising further heavy consignments. The Standard Wagon company, Cincinnati, 0., the largest company of its kind in the United States, has assigned to Grant H. Burrows, Assets, $200,000; liabilities, $700,000.