1109. Commercial National Bank (Denver, CO)

View Charter #4113 on SPMC

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
4113
Charter Number
4113
Start Date
July 18, 1893
Location
Denver, Colorado (39.739, -104.985)

Metadata

Model
gpt-5-mini
Short Digest
4c08030a5898a140

Response Measures

Accommodated withdrawals, Full suspension, Books examined

Other: Directors posted notices of liquidation/closure; receivership and examiner (Frank Adams, bank examiner/receiver) took charge; later a Comptroller Eckels resumption plan gathered depositor signatures for reopening.

Receivership Details

Depositor recovery rate
57.5%
Date receivership started
1893-10-24
Date receivership terminated
1900-12-27
OCC cause of failure
Losses
Share of assets assessed as good
23.2%
Share of assets assessed as doubtful
31.5%
Share of assets assessed as worthless
45.3%

Description

Multiple July 18–19, 1893 articles report heavy withdrawals (a run) and a posted notice that the Commercial National 'closed for liquidation by order of the directors' (suspension). Later articles (July 28–Sept 1, 1893) report depositors signing Comptroller Eckels' plan and the Commercial National preparing to resume/actually resuming business. Cause of the panic/suspension is driven by runs triggered by failures of other local savings and national banks (local bank distress/panic). Subsequent legal actions (1896 indictments) allege misappropriation by officers, but the contemporaneous press attributes the immediate suspension to runs and lack of ready cash.

Events (5)
1. September 6, 1889 Chartered
Source
historical_nic
2. July 18, 1893 Run
Cause
Local Banks
Cause Details
Panic triggered by failures/suspensions of other Denver savings banks (and Union National) leading depositors to withdraw funds from clearinghouse/national banks including Commercial National.
Measures
Notice posted on door that bank was 'Closed for liquidation by order of the directors'; later participated in Comptroller Eckels' special resumption plan (depositors signed to allow reopening).
Newspaper Excerpt
This started a panic, and the Commercial National posted a similar notice ... A run was at once started on all of the other banks
Source
newspapers
3. July 18, 1893 Suspension
Cause
Local Banks
Cause Details
Unable to meet heavy withdrawal demands (lack of ready cash; capital cited as $250,000 but only ~$2,000 in cash on hand), closure posted by directors amid the citywide bank panic following other bank failures and runs.
Newspaper Excerpt
Closed for liquidation by order of the directors. The Commercial National Bank has closed its doors.
Source
newspapers
4. August 31, 1893 Reopening
Newspaper Excerpt
More Banks Reopen in Denver. ... The Commercial National will resume in a few days. ... The Commercial National will resume in a few days; ... banks reopening in Colorado, DENVER. Aug. 31.-The ... The Commercial National will resume in a few days.
Source
newspapers
5. October 24, 1893 Receivership
Source
historical_nic

Newspaper Articles (24)
1. July 18, 1893 The Jersey City News Jersey City, NJ
Article from The Jersey City News, July 18, 1893

Click image to open full size in new tab

Article Text

EXTRA! DENVER'S BANK PANIC Three More Collapse and Rumors Are Rife on Several. DENVER, Col., July 18.-The Union National Bank, of which R. W. Wood, bury is president, failed to open its doors this morning. The capital is $1,000,000. No statement can be bad. A run is now being made on City National. German National, First National, Colorado National and all the eleven clearing house banks. The panic is on. DENVER, Col., July 18, 1893.-The National Bank of Commerce has closed its doors. Ex.Governor Job A. Cooper is President of this bank. DENVER, Col,, July 18, 1893. I The Commercial National Bank has closed its doors. A notice says:-"This bank has gone into liquidation by order of the Board of Directors,"

2. July 19, 1893 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, July 19, 1893

Click image to open full size in new tab

Article Text

PANIC AT DENVER. Six Banks Closed Their Doors in Last Two Days. It is Thought That All will Pay in Fall and Resume Business. DENVER, Col., July 18.-The failure of three savings banks yesterday greatly excited the masses, and the hour of opening today. 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 crowd gathered. until the officers and special police were called to clear the way for traffic. At 10 o'clock, the Union National. with a capital of $1,000,000. posted a notice that it would not open its doors. This started a panie, and following quickly the Commercial National posted a similar notice and the National Bank of Commerce. A run immediately started on all the other banks, though to no great extent on the Peoples National. The First National appears to be soundest of all, it having over 60 per cent. of its deposits on hand. with a private fund of $1,500,000 in addition, to draw upon. The Colorado National and several others are in equally good condition. Those withdrawing money are small depositors, the large holders being satisfied to let their accounts remain in the banks. The banks are paying all demands except on time certificates. President J. A. Tatcher of the Clearing House Association, said: At a meeting of the Clearing House last night we decided we could not help the banks, so some of them have gone to the wall. All of them. I believe, have ample security to protect all the depositors." The Union National Bank stated that the bank had realized on securities as rapidly as possible, but it was not fast enough to suit the depositors. It has $1,600,000 in and owes It the bank will to securities is thought approximately be able $500,000. realize upon its securities when all the depositors have been paid in full. The bank expects to open again for business as soon as it can realize. The Commercial National Bank was in bad shape this morning. It has a capital stock of $250,000. but had only $2000 in cash on hand. Small depositors rushed to the American National Bank this morning to draw out deThe American than any posits. less small depositors National Bank other has of equal capital in the city. The vice president of the bank said that those who are drawing money are those who usually paid their grocers and butchers with checks which came to the bank through the clearing. The depositors had to go to the bank in person to draw the money.

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

Click image to open full size in new tab

Article Text

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

4. July 19, 1893 The Times Richmond, VA
Article from The Times, July 19, 1893

Click image to open full size in new tab

Article Text

stop?" A run was Immediately started on all the other banks, though to no great extent upon the People's National The National appears to be the soundest of all, they having over 60 per cent. of their deposits on hand, with a private fund of $1,500,000 in addition to draw upon making it impossible to close their doors. The Colorado National and several others are in equally PS good condition. The mob withdrawing their money are all small depositors, the large holders being satisfied to let the accounts remain in the bank. The banks are paying all demands, except on time certificates, they demanding that these remain until the expiration of time. As every bank is crowded, the clearing house is rendering no assistance, each institution being compelled to stand upon its own foundation. The Commercial National Bank closed its doors within a few minutes after the opening, because it was apparent from the size of the crowd in front of the bank that a run was to be inaugurated. A notice was posted on the door: "Closed for liquidation by order of the directors." The bank was in bad shape. It had a capital stock of $250,000 and only had $2,000 in cash in the bank. The Mercantile Bank, a private institution, with a capital stock of $100,000. closed its doors at noon. The failure was caused by the failure of the Union National Bank, through which it cleared. C. C. Girda, the city auditor, is prestdent. W. F. Robinson, formerly treasurer of the Republic Publishing Company, one of the oldest and most respected individuals in the State, has been made assignee. The News in Washington. WASHINGTON, July 18.-The news of the Denver Bank crash caused some surprise at the Comptroller's office, for it was believed there that the worst was over, and that national banking matters would soon resume their normal condition. The gold reserve took another downward tumble to-day, from $98,059,480 yesterday, to $98,672,852. The currency balance to-day was $26,118,160, against $26,117,918 yesterday. Other Failures. FORT SCOTT. KAN., July 18.-The First National Bank of this city, the oldest financial institution in Southeastern Kansas, has suspended payment. TOLEDO, O., July 18.-The Citizens' Bank of Ada, the most prominent one in Hardin county, failed to open its doors this morning. Its owner. Peter F. Ahlfield. has controlled it over a quarter of a century, and is one of the wealthiest men in that section. What Raleigh Citizens Think. RALEIGH, N. C., July 18.-The chamber of commerce of Raleigh, at a meeting held to-night, adopted the following resolutions: Resolved That in the opinion of this chamber, national banks should be permitted to take out circulation on deposit of good State bonds and on United States bonds to their par value, and the five per cent. redemption funds should be abolished and the tax on their circulation repealed. Resolved further, That the tax on State bank notes should be repealed. Resolved. further, That upon the adoption of such legislation as will provide adequate facilities for the increase of currency, we recommend a suspension of the law authorizing the purchase of silver bullion until such time as an international or new ratio may be established between gold and silver. Silver Coinage in India. LONDON July 18.-In the House of Commons to-day, Gladstone, in replying to questions asked upon the subject, denied that there was artificial restriction of coinage of silver in India. The Austrian system. he said, was analagous to the new Indian system of coinage. The quantity of silver coined in India would not be regulated by the convenience of the Government, but by the wants of the country.

5. July 19, 1893 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, July 19, 1893

Click image to open full size in new tab

Article Text

DENVER BANK RUNS. The Withdrawers of Money, However, All Small Depositors. (B3 telegraph to the Disbatch.1 DENVER. COL., July 18.-No such scene was ever witnessed in all the West as could be seen here this morning shortly after 10 o'clock. when the banks were supposed to open their doors for business. The failure of three savings banks yesterday had affected the masses as the smell of blood would affect wolves, and at the hour of opening the streets were crowded with anxious depositors. The eleven clearinghouse banks, located within four blocks of each other. were surrounded and far into the streets the crowds gathered until officers and special police were called out to clear the way for traffic. At 10 o'clock the Union National with a capital of $1,000,000. posted a notice that they would not open their doors. This started a panic, and the Commercial National posted a similar notice, and then the National Bank of Commerce; and people asked, Where will this stop?" A run was immediately started on all the other banks, though to no great extent upon the People's National. The First National appears to be the soundest of all, they having over 60 per cent. of their deposits on band, with a private fund of $1,500,000 in addition to draw upon. making it impossible to close their doors. The Colorado National and seve. ral others are in equally as good condition. The mob withdrawing their money are all small depositors. the large holders being satisfied to let their accounts remain in the banks. The banks are paying all demands except on time certificates, they demanding that these remain until the expiration of the time. As every bank 13 crowded the clearing.house is rendering no assistance, each institution being compelled to stand upon its OWB foundation. The Commercial National Bank closed its doors within a few minutes after the opening, because it was apparent from the size of the crowd in front of the bank that a run was to be inaugurated. A notice was posted on the door: 'Closed for liquidation. by order of the directors." The bank was in bad shape. It had a capital stock of $250,000. and only had $2.000 in cash in the bank. The Mercantile Bank, a private institution, with a capital stock of $100,000. closed its doors at noon. The failure was caused by the failure of the Union Na. tional Bank. through which it cleared. C. C. Girda, the City Auditor, is president. W. F. Robinson, formerly treasurer of the Republic Publishing Company, one of the oldest and most respected individuals in the State, has been made assignee.

6. July 19, 1893 The Sun New York, NY
Article from The Sun, July 19, 1893

Click image to open full size in new tab

Article Text

KANSAS BANK FAILURES. Two Banks Suspend at Fort Scott and Three in Other Town. FORT SCOTT. Kan. July 18.-Two banks closed their doors in this city to-day-the First National Bank. with a capital stock of $300,000. and the People's Savings Bank. with $50,000 capital. For several days past steady withdrawals from these banks have been made. and the aggregate deposits of the First National have been reduced from $215,000 to $130,000.which amount it had at the time of closing. The officers of both banks strongly maintain that their business is only temporarily RUBpended. and that dollar for dollar will be returned to the depositors. The First National people assert that their Assets are more than $390,000. but that is In securities and cannot be immediately realized upon. The First National was organized in 1871. and the People's Bank in 1883. TOPEKA. Kan.. July 18.-State Bank Exam. iner Breidenthal this morning received notice of the failures of the Citizens' Bank of Kansas City. Kansas: of the Bank of Richmond, and of the Farmers' and Merchants' Bank at ORSAwattomic. The concerns all did a small business. Statements are unobtainable. The opinion is expressed that other institutions throughout the State will soon go under. WASHINGTON. July 18.-Before the office of the Comptroller of the Currency was closed this afternoon information had been received of the failure of three national banks to-day-the Commercial National and the Union National of Denver. and the First National of Fort Scott. Kan. The news of the Denver crash caused some surprise in the Comptroller's office. for it was belloved there that the worst was over and that national banking matters would soon resume their normal condition. The gold reserve took another downward tumble to-day from $188,050,480 its amount yesterday. to $97,672,852. The currency balance to-day was $20,118,160. against $26,117. 918 yesterday. The Chief of the Bureau of Statistics. in his statement of the exports and import of gold and silver. reports that the exports of gold from the United States during the twelve months ended June 30. 1893, amounted to $108,680,844. and the imports to $21,174,381: excess of exporte. $87,506,463. During the corresponding period of the preceding year the exports were $50,195,327. and the imports $49,699.45 excess of exports. $495,873. The exports of silver during the twelve months ended June 30. 1893, were $40,737,319. and the imports $23,193,252: excess of exports. $17.544.067. During the corresponding period of the preceding year the exports were $32.810,559. and the imports $19,955,086; excess of exports. $12,855,473. During the six months ended June 30 the exports of gold amonnted to $73,717,938. an increase of $32,148,788 over the corresponding period of the preceding year. The Imports were $11,759,043. an increase of $3,723,435.

7. July 19, 1893 The Representative Saint Paul, Minneapolis, MN
Article from The Representative, July 19, 1893

Click image to open full size in new tab

Article Text

EXCITEMENT AT DENVER. Bank and Mercantile Failures Are Numerous. DENVER, July 19.-Three national banks, the Union National, the Commercial National and the National Bank of Commerce, closed their doors during the morning, owing to the heavy demands of excited depositors. The Mercantile bank, a small institution doing business in the Mining Exchange building, also suspended, owing to to the close of the Union Bank, through which its clearances were made. The suspension of three savings banks Monday so alarmed the community that at 10 a. m., the hour for opening the banks, crowds had gathered in front of nearly all the financial institutions. At the German and City National banks The Run Was Heavy, although the First National, the People's and one or two others felt the unusual pressure to some extent. The streets were full of people discussing the situation. It was an orderly crowd, however, and there was much sensible and conservative talk. The run on the People's bank soon exhausted itaelf and by 11 o'clock affairs had resumed their normal condition. At the City National the run was over by 1 o'clock and at the other banks, except the German, the excitement was all over by noon. At the German National the crowd kept in line in front of the teller's window all the afternoon. Mercantile Failures. In addition to the bank failures the following firms went to the wall during the day: McNamara Dry Goods company; M. S. Noah, nstallment furniture dealer; Albert Nelson, restaurant; John Mouatt Lumber company; Luther J. Wygant, tiles and grates; Evans-Littlefield Confectionary company; "The Hub," general merchandise; Hyman & Cohen, shoe dealers, and McHiver & Drip, mantels and tiles.

8. July 20, 1893 Echo De L'ouest Minneapolis, MN
Article from Echo De L'ouest, July 20, 1893

Click image to open full size in new tab

Article Text

Faillites de Banques et antres depuis quelques jours -Le Schleisinger Syndicate de Nigaumee, Mich, representant des millions de dollars de capital allemand a fait faillite. Les pertes des créanciers seront énormes. W.H. Rush et H, M. Tabor de Denver, Col., ont deposé leur bilan. Passif 650000 dollare. La Bank of Springfield, Mo, a fermée ses portes. C'est la premiè re fois qu'une banque fait faillite dans la ville. Passif 256,000 dollare. Fermée est la Bank of Garnet, Kan. Les déposants perdront énormé ment et le comté 23,000 dollare que le tréforier y avait déposés. Trois faillites de banques de New-York, celles de MM. C. H. Bunell, celle de M. H. S. Tober et enfin celle de M. W. Barrow. La Philadelphia Mutual Life Insurance Company de Harris burg, Pa., et la Keyatone Benefit Association de Beaver Falls, Pa., sont insolvables. O. E. Nettleton banquier de Deeham, Mass., a dépost son bilan. Le "Universal Order of Coope ration" de Philad-lphie va être mis entre les mains d'nn syndic. Harris Bros de New York ont suspendu leurs paiements. Passif 100,000 dollars. La N W Jersey Sheep & Wool Company de Trenton N. Y. a fermé ses portes. En faillite auesi dans le Kansas La "Bank of Balter and Double Bay de Columbus" la "City Bank" de Johnson City, et la "Book of Weir City" La Peoples Savings Bank de Denver, Col., a ferme see portee. Passif 350,000 dollare. La Rocky Mountain Dime et Dollar Bank de la même ville a suspendu ees paiements. Il en est de même de la Colorado Savings Bank. La Missouri National Bank et la Grande Avenue Bank de Kan888 City ont fait faillite. Passif 250,000 dollars. Et la liste eat loin d'être épuisée. Enfin les banques "Union National," "Commercial National," "National Bank of Commerce" et "Mercautiie Bank" de Denver, Col., ont aussi sombré. Il en est de même de la "Citizen's Bank" de Kansas City, de la "Bank of Richmond" et de la "Farmers et Merchants Bank" de Oaawatomie, Kan., ainsi que de la "First National Bank" de Fort Scott et de la "Armourdale CitiZons Bind," Kansas. On va bien sous le régime démocratique.

9. July 20, 1893 The Morning News Savannah, GA
Article from The Morning News, July 20, 1893

Click image to open full size in new tab

Article Text

DENVER'S CRAZY PANIC. Banks Worth Three Times What They Owe Forced to Close. Denver, July 19.-The panic was on in this city to-day with renewed vigor and as a result the old German National, with a reputation for stability of 20 years standing, and the equally reputable State National failed to open their doors for business this morning. Later the People's National failed. All night long depositors stood in the line in front of the German, and by 9 o'clock there was one long sea of faces stretching down the street. On the opposite corner, where the State Bank has so long done business, there was also quite a crowd of anxious depositors waiting for the opening of the doors. Here the people were relieved of their agony at a few minutes after 9 o'clock. when notice was posted to the offect that the bank would not open, owing to a lack of ready cash, and the crowd moved away. THE GEPMAN FAILS TO OPEN. At the German there was evidently a determination to go ahead with business up to almost the last moment, when a slip of paper was pasted on a window stating that the doors would remain closed temporarily. Then the scene became distressing. Men and women down the long line broke out in tears and wailing. By this time there was a run on every bank in the city, and soon came the announcement that the People's National bank had closed its doors. A notice on its doors read: "This bank is closed by order of the board of directors. The assets are $1,100,000, and the liabilities $310,000. THE OTHER BANKS CLSO SOLID. The assets and liabilities of the other two failed banks bear about the same proportion as the People's bank. Their failure is chargeable to a long continued drain by depositors and inability to raise ready cash. All expect to resume shortly. Frank Adams, bank examiner, to-day took charge of the Union National, Commercial National, National Bank of Commerco, State National and German National. This afternoon the run at the Denver National, was over, with an enormous amount of money still in sight. The same is true at the City and all the other banks and business men are beginning to breathe freer. There has been a considerable number of failures among business houses of all kinds within the last few days, caused by attachments taken out by banks who foresaw their suspension. Five national banks are still open. OTHER FAILURES. Among the failures that almost escaped notice was that of the Bank of North Denver yesterday afternoon. The business firms whose embarrassments became known range from liquor saloons to street railroads. There are in the list drug stores, lumber companies, gentlemen's furnishers, milliners, coal companies, dry goods houses, jewelers, ready-made clothing dealers, tailors and grocers. Two bank failues are reported at Aspen and one at Loveland. Commercial failures are also reported from many points in the state outside of Denver, due principally to the fact that the sufferers deposited in the Denver banks which have suspended. TWO CLOSE AT GREELEY. Greeley, Col., July 19.-The Union Bank closed its doors at p. m. to-day and a half 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 suspension of certain Denver national banks which had on deposit several thousand dollars of its money, and the steady withdrawal of deposits, amounting to about $80,000 in the past ninety days, they were compelled to suspend business. They say their liabilities are about $100,000, with assets and paid up capital at $300,000. As soon as the fact of the suspension of 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 hour cashed two checks presented.

10. July 20, 1893 Abilene Weekly Reflector Abilene, KS
Article from Abilene Weekly Reflector, July 20, 1893

Click image to open full size in new tab

Article Text

DENVER'S DOSE. A Financial Panic Upsets Its Equilibrium. PEOPLE CLIMB OVER ONE ANOTHER. Bank Directors Scared and Notices of Suspension Posted-A Number of Business Firms Succumb to Circumstances. DENVER, Col., July 19.-The failure of three savings banks Monday had excited the masses and when the other banks of the city were opened yesterday the streets were crowded with anxious depositors. The eleven clearing house banks located within four blocks of each other were crowded and the streets were blocked until the police were called out to clear the way for traffic. At 10 o'clock the Union national, with a capital of $1,000,000, posted a notice that it would not open its doors. Following quickly Commercial national bank posted a similar notice and then the National Bank of Commerce, of which ex-Gov. Cooper is president, followed. A run was at once started on all of the other banks, though to no great extent on the People's national. The e First national appears to be the soundest of all; they have over 60 per cent. of their deposits on hand, with a private fund of $1,500,000 in addition to draw t upon, making it impossible to close its e doors. The Colorado national and seva eral others are in equally good condition. e The people withdrawing money were r all small depositors, the large holders being satisfied to let their accounts ret main At the State national bank, of which y J. D. MoNeil is president, quite a run t was in progress and a large number of h men and women were in line waiting e for their turn to come'so they could get d their money. The Mercantile bank, a private insti8 tution with $100,000 capital, closed its n doors at noon. The failure was caused p by the failure of the Union national n bank, through which it cleared. C. O e Gird, the city auditor, is the president. W. F. Robinson, formerly treasurer of 8 the Republican Printing Co., is the asa signee. t The McNamara dry goods company failed to-day. The liabilities are 8 placed at $260,000 but the assets are not known. The failure was brought about by an attachment served by the y Union National bank. e M. S. Noah, installment furniture 0 dealer, to failure to assigned as due Calvin inability C. Hill. to collect The n a dey of the asil outstanding pression bills money and market. and general his His liabilsets are placed at $35,000 e ities at $16,000, about equally divided 3. between local and eastern creditors. Albert Nelson, the well known resW taurant man of Curtiss street. made an n assignment for the benefit of his creditors to Frank Anderson. He places his assets at about $111,510 and his liabilities at about $96,725. The assets S consist of real estate valued at $107,500, and to incumbrances of $51,890, and a stock r property. subject about $55,900 and worth fixtures, of of etc. personal The liabilities consist of claims Denver 18 and eastern creditors. e The John Mouat Lumber Co. was ata tached on the claim of the German naa tional bank for $155,200. The sheriff three custodians of the come placed company's property, and in charge the Wilrp pany then made an assignment to d liam B. Palmer. No schedule was te presented. he Luther J. Wygant. tiles and grates, 1609 Court place, assigned to Robert J. t. Pitkin. Assets, $14,765.52; liabilities, 11. $14,890.43 g The Evans-Littlefield Confectionery of Co. assigned to George Smith. No 10 schedule presented. a "The Hub," conducted by Engle & 14 x Harris, general merchants, at 2201 to 2209 street assigned to George ho The assets are he a 100, Stock on Burger. as Larimer follows: placed hand, $17,500; at $18,ng store $100. st The are $4,664.31. is There two liabilities fixtures, only $500; book placed Denver accounts, at creditors. d & Cohen, the ad shoe store at "Bee Hyman Hive" are proprietors 1632 Larimer of street, assigned to Manx Hyman. No schedule is given. he McWhiter & Dripps, mantels and st tiles, at 421 Sixteenth street, assigned bs to A. G. Masker. No schedule is given. al

11. July 21, 1893 Oakes Weekly Republican Oakes, ND
Article from Oakes Weekly Republican, July 21, 1893

Click image to open full size in new tab

Article Text

BUSTED BANKS Seven Bad Fallares III Two Days at Denver. DENVER. July 18. --Commercial - circles are greatly excited over the failure of three banks in this city during the day. The banks constituting the triple failure are the Colorado Savings bank; the People's Savings bank and the Rocky Mountain Dime and Dollar Savings bank. An estimate of the total assets are $1,500,000 and liabilities are placed at nearly that amount. Charles H. Blakeney was made assignee of the Rocky Mountain Dime and Dollar Savings bank. DENVER, July 19.--Three national banks, the Union National. the Coinmercial National and the National Bank of Commerce, closed their doors during the morning, owing to the heavy demands of excited depositors. The Mercantile bank, a small institution doing business in the Mining Exchange building, also suspended, owing to to the close of the Union Bank, through which its clearances were made. Mercantile vallures. In addition to the bank failures the following firms went to the wall during the day: McNamara Dry Goods company; M. S. Noah. installment furniture dealer: Albert Nelson, restaurant; John Mouatt Lumber company; Luther J. Wygant, tiles and grates; Evans-Littlefield Confectionary company; "The Hub," general merchandise; Hyman & Cohen, shoe dealors, and McHiver & Drip, mantels and tiles.

12. July 21, 1893 Vermont Phœnix Brattleboro, Bellows Falls, Ludlow, VT
Article from Vermont Phœnix, July 21, 1893

Click image to open full size in new tab

Article Text

The Week in Business Circles. The commercial agencies report improvement in the business situation, but there are many indications that the storm is not over. The Amoskeag mills at Manchester, N. H., will be shut down during August on account of the congested condition of the market, and 8000 hands will be thrown out of employment. The iron mill operatives and representatives of the amalgamated association have failed to reach an agreement in Pittsburg, Pa., and in the meantime 40,000 workmen in Pennsylvania and Ohio are idle. The property of the Schleisinger syndicate, controlling a dozen large mines in northern Michigan and Wisconsin has been attached. The suspension of the Kansas City national bank of Kansas City, Mo., which had a capital of $1,000,000, caused a dozen other banks in Kansas City and in other places in Kansas to go to the wall. Six large building and loan associations of St. Louis transferred their property Monday. The greatest excitement has been at Denver, Col., where eight banks closed their doors. The People's savings bank, the Rocky Mountain Dime and Dollar and the Colorado savings banks went down Monday. The National bank of Commerce, Commercial national and Union national were unable to meet the demands of depositors Tuesday, and Wednesday the People's national and the German national were also obliged to cease business. The streets of Denver were filled with excited throngs, and special policemen had to be called out for service in the vicinity of the banks. Great indignation was expressed against Gov. Waite, the Populist, it being alleged that his unguarded remarks at the silver convention were the indirect cause of the failures. If the financial situation in other parts of the country brightens, it is hoped that the Denver banks will be able to resume business.

13. July 28, 1893 Shenandoah Herald Woodstock, VA
Article from Shenandoah Herald, July 28, 1893

Click image to open full size in new tab

Article Text

South and West. AT Denver. Col.. the People's Savings, the e Rocky Mountain Dime and Dollar and the I Colorado Savings Banks have closed their e doors. At Kansas City, Mo., the Missouri National Bank has suspended payment: also 1 the Grand Avenue Bank, a private institu: tion. The assets are $200,000; liabilities, $140,000. l FOUR people were killed and several injured in a collision between a Grand Trunk train and a horse car in Chicago, III. THE foreign exhibitors at the World's e Fair are getting ready to file claims against the National Government for damages, claims to the amount of $400,000 having already been prepared. THE First National Bank at Cedartown. Ga., closed its doors. The suspension was caused by inability to realize at once on collaterals. SECRETARY MOHLER has issued a statement saying that if the conditions continue favorable Kansas will have the largest corn crop in the State's history, with the exception of that of 1889. Miss EMMA GARRETT. of Philadelphia, who with her sister, Miss Mary 8. Garrett, had charge of the Pennsylvania blind children's exhibit at the World's Fair, committed suieide by leaping from a window at the Briggs House, THREE Denver (Col.) National banks-the Union National, the Commercial National and the National Bank of Commerce-closed their doors, owing to the heavy demands of excited depositors. The Mercantile Bank, a small private institution. also suspended, owing to the closing of the Union Bank. URUGUAY'S exhibition in the Agriculture Building, World's Fair. was thrown open to the public view, and was visited by large crowds. THE drouth, which exten led over an area of 40,000 square miles in Western Texas, has been broken by good rains. AT Denver, Col., the German, State and People's National Banks closed their doors to forestall the heavy demands that it was evident would be made. The list of closed banks in Denver is now thirteen. of which six are National, five savings and two private institutions. Two men were mortally wounded and on? instantly killed in a pitched battle between tramps and citizens near Sheffield, Ind. AT Green Bay, Wis., Rear-Admiral Melancton Smith. United States Navy, died after a two-days' illness. He was born in New York City, May 24, 1810, and entered the navy as 8 midshipman at the age of sixteen. THE Brazilian Building was dedicated at the World's Fair. THE Commissioners of Agriculture of the Southern States, in session at Atlanta, passed a resolution calling for the adoption of a uniform system of control and regulation of the manufacture and sale of commercial fertilizer. SWEDEN'S day at the World's Fair was celebrated by a big procession and a concert: Columbia's Building was opened on the same day. A NUMBER of striking miners, with their wives, attacked the strip pit miners in one of the mines near Weir City, Kan. A fierce fight ensued, in which clubs and firearms were used. About 100 shots were fired and a number on both sides were injured. No one was killed. IT is estimated that ten thousand persons in Denver, Col., and twenty thousand out. side of it have been thrown out of work by the cessation of silver mining. They are in great distress.

14. July 29, 1893 Morning Journal and Courier New Haven, CT
Article from Morning Journal and Courier, July 29, 1893

Click image to open full size in new tab

Article Text

Bank Resumption in Denver. DENVER, July 28.-The signatures to the special plan suggested by Comptroller Eckels are coming in rapidly from depositors in the suspended banks of this city. The State National's depositors representing over $100,000 have signed, and a great many have yet to be heard from. The National Bank of Commerce has received the signatures of depositors representing about $100,000, the German National for between $150,000 and $200,000, and the Commercial National's signatures for about $50,000.

15. July 29, 1893 The Sun New York, NY
Article from The Sun, July 29, 1893

Click image to open full size in new tab

Article Text

Bank Resumption in Denver. DENVER, July 28.-The signatures to the special plan suggested by Comptroller Eckels are coming in rapidly from depositors in the Denver suspended banks. The State National depositors, representing over $100,000. have signed and a great many have yet to be heard from. The National Bank of Commerce has received the signatures of depositors representing about $100.000. the German National for between $150,000 and $200,000. and the Commercial National for about $50,000.

16. August 2, 1893 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, August 2, 1893

Click image to open full size in new tab

Article Text

LATER NEWS. A DINNER was given in honor of James H. Eckels, Controller of the Currency, at the Union League Club, New York City. THE corner stone of the Odd Fellows' Temple, which will cost $1,000,000, was laid at Philadelphia, Penn., with impressive ceremonies. MISS EMMA GABRETT, of Philadelphia, who with her sister, Miss Mary S. Garrett, had charge of the Pennsylvania blind children's exhibit at the World's Fair, committed suicide by leaping from a window at the Briggs House. THREE Denver (Col.) National banks-the Union National, the Commercial National and the National Bank of Commerce-closed their doors, owing to the heavy demands of excited depositors. The Mercantile Bank, a small private institution, also suspended, owing to the closing of the Union Bank. URUGUAY'S exhibition in the Agriculture Building, World's Fair. was thrown open to the public view, and was visited by large crowds. IT was reported that the warship Mohican was disabled on June 25 by a shot from the seal-poaching steamer Alexandria passing through her machinery; the story was discredited in Washington. THE Navy Department formally accepted the cruiser Detroit and authorized the payment to the builders of reserved funds amounting to about $225,000. IN the court-martial of the officers of the Victoria, at Valetta, Malta, Flag-Lieutenant Gilltord and Staff-Commander HawkinsSmith-testified that Vice-Admiral Tryon said immediately after the Camperdown struck the Victoria, "It was all my fault." BRIGANDS raided the village of Lipkaey, Bukowina. The villagers killed five of them and wounded several more. The villagers were finally routed and the place looted. PRESIDENT CLEVELAND returned to Gray Gables, Buzzard's Bay, Mass., from his fishing trip; he said that his health was splendid and that his rheumatic trouble had left him. FIRE on the dairy farm near Carteret, N. J., occupied by Thomas Stugg destroyed buildings covering seven acres, and caused a loss of about $30,000. THE drouth, which extended over an area of 40,000 square miles in Western Texas, has been broken by good rains. AT Denver, Col., the German, State and People's National Banks closed their doors to forestall the heavy demands that it was evident would be made. The list of closed banks in Denver is now thirteen, of which six are National, five savings and two private institutions. Two men were mortally wounded and one instantly killed in a pitched battle between tramps and citizens near Sheffield, Ind. AT Green Bay, Wis., Rear-Admiral Melancton Smith, United States Navy, died after a two-days' illness. He was born in New York City, May 24, 1810, and entered the navy as a midshipman at the age of sixteen. THE Brazilian Building was dedicated at the World's Fair. THE manufacture of the new army rifle (the Krag-Jorgensen) is being pressed vigorously, and a large number of special cutters and sharpers have already been procured. It is believed that the first lot of completed arms will be ready for delivery and issue to the service about September 1. FRANCE sent an ultimatum to Siam giving her forty-eight hours in which to comply with her demands. REAR ADMIRAL MARKHAM, in his testimony before the Malta court martial, said that Sir George Tryon's command was impossible to follow with safety.

17. September 1, 1893 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, September 1, 1893

Click image to open full size in new tab

Article Text

More Banks Reopen in Denver. DENVER. Colo., Aug. 31.-The Second National bank. the last one of the city's six suspended national banks to suspend, opened its doors again this morning. The Commercial National will resume in a few days. or the score of national banks compelled to close their doors a few weeks ago, all have resumed save three, and it is said that they will again be doing business before the middle of the month.

18. September 1, 1893 The Sun New York, NY
Article from The Sun, September 1, 1893

Click image to open full size in new tab

Article Text

Banks Reopening in Colorado, DENVER. Aug. 31.-The State National Pan the last but one of the city's six national banks to suspend. opened its doors this morn ing. The Commercial National will resume 1) a few days. Of the score of national banks in Colorad which were compelled to close their doors) few weeks ago all have resumed save three and it is said that they will again be doin business before the middle of the month.

19. September 8, 1893 The Weekly Union Times Union, SC
Article from The Weekly Union Times, September 8, 1893

Click image to open full size in new tab

Article Text

Banks Resuming Business. W ASHINGTON, D. C.-The following national binks which recently suspended payment have been permi ted to open their doors for business: The American National Bank, of Nashville, Tenn., the First National Bank, of Grundy Centre, Iowa, and the First National Bank, of Harrisonville, Missouri. DENVER, COL -The State National Bank, the last but one of the city's six national banks to suspend, opened its doors Thursday. The Commercial National will resume in a few days. Of the scores of national banks in Colorado which were compelled to close their doors a few weeks ago all have resumed save three, and it is said that they will again be doing business before the middle of the mouth. ECKELS IS HOPEFUL. CHICAGO, ILL.-James H. Eckels, Comptroller of the Currency, passed through Chicago on his way to Ottawa, III, where he will enjoy a two week's rest at his home. Mr. Eckels spoke very hopefully. He would not predict how long it would be before matters had resumed their normal condition, but the bottom had been reached, so far as the banks were concerned, and financial af fair were on the up grade. They are proposing to pension teachers in England.

20. October 6, 1894 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, October 6, 1894

Click image to open full size in new tab

Article Text

THE BLOTTER UNITED STATES COURT-HANFORD, J. Frank B. Johnson vs. Great Northern Express Company-Motion to make more definite and certain; denied. James Fitzgerald vs. Great Northern Railway Company-Dismissed for lack of prosecution. Paul Hopkins vs. steamer Dispatch- Claim of Dyer & Co. for $15; not allowed. Newton Hartman vs. steamer City of Stanwood-Referred to C. E. Bowen to ascertain amount due libellant. United States vs. Z. Yamamato-Writ of habeas corpus; issued. G. W. Hunt vs. Northern Pacific Rail- road et al.-Wellington Clark appointed examiner. Frank Adams, receiver of Commercial National Bank of Denver, vs. Edward P. Caldwell et al.-Foreclosure of mortgage; demurrer; sustained. CIVIL DEPARTMENT, OSBORN, J. George F. Gund vs. Jacob Hopp et al.-

21. September 14, 1895 Western Kansas World Wakeeney, KS
Article from Western Kansas World, September 14, 1895

Click image to open full size in new tab

Article Text

# KANSAS STATE NEWS. On the night of September 1 the post office at Burr Oak was robbed of about $300. The robber fled into Nebraska. A. J. Lister, of Sedalia, Mo., was recently killed at Emporia by falling beneath a freight car upon which he was trying to steal a ride. It is stated that the suit of Bernard Murray against ex-Congressman Harris for alienating the affections of Murray's wife has been compromised. Willard S. Allen was killed on a farm near Vinland, Douglas county, the other night. While working on a haystack the stacker fell upon and crushed his skull. Joseph Hausenfritz, of Atchison, recently made a visit to his old home in Germany and was arrested because he left that country before serving the usual time in the army. Burglars entered the post office and general store of Nathan Harrington at Palermo the other night and stole about $600 in money and stamps. The robbers were traced to St. Joseph, Mo., but were not found. Millions of grasshoppers are said to be remaining in the fields of Barton, Rice, Stafford and other central counties where wheat has been harvested, and farmers are gathering and feeding them to their hogs. The governor has appointed the following delegates to the prison congress, which meets at Denver September 14: Warden Lynch, of the state penitentiary; C. E. Faulkner, J. C. O. Morse, W. C. Jones, J. C. Milliken. Since the 8th day of last January thirty-seven citizens of Shawnee county have been declared insane by the probate court, and since the 3d day of May fourteen other citizens of Shawnee county have committed suicide. Andrew Mikelson, 40 years of age, a farmer living ten miles north of Wamego, was killed by lightning the other night while lying by the side of his wife and child, neither of whom was hurt. The dog at the door was also killed. Ten thousand persons were reported to be present at Emporia to witness the parade during the military encampment. Sixteen hundred militia and nearly as many citizens, members of fraternal organizations, participated in the parade. The national guard encampment rt Emporia was voted a great success. The governor and state officers were present and given a reception by the people and speeches were made by Gov. Morrill, Senator Peffer, ex-Senator Ingalls and others. The Kansas River Baptist association in convention in Topeka, elected the following officers for the ensuing year: Moderator, Rev. George D. Rogers, of Lawrence; clerk, Miss Carrie Sheffield, of Topeka; treasurer, J. A. Lukens, of Topeka; statistical secretary, Rev. W. B. Hutchinson, of Topeka. R. R. Dunbar has brought suit to recover 328 acres of land in the city of Argentine. The land contains residences and business houses, among the latter being the largest smelter in the world. The suit is based on a number of old Indian deeds and the principal claimant is an Indian from the territory. The state live stock sanitary board denies the charges of stockmen that they are charging importers of live stock a tax of 2 cents a head without the sanction of law. They claim to have the right under the law to take any steps which they may deem necessary to keep contagious disease out of Kansas. Labor day was generally observed in the state. At Topeka there was a parade, and speeches were delivered by John J. Ingalls and J. R. Burton. At Lawrence the Woodmen had a log-rolling in Bismarck grove, while Leavenworth, Atchison, Wichita and other cities of the state contributed to the success of the day. The State Real Estate association, lately in session at Salina, organized the Kansas Million club, the object of which is to add 1,000,000 population to Kansas before the end of the century The officers of the organization are President, Gov. Morrill; vice presidents, Senators Baker and Peffer; secretary, E. Jameson, Leavenworth; treasurer, W. W. Watson, Salina. THE state treasurer's report for August shows that the total disbursements for the month were $404,186.33, while the receipts were $208,652.52. The largest single payment was $206,193, in disbursement of the semi-annual school fund dividend. At the close of the month the treasury had on hand $949,935.04. State taxes were received to the sum of $92,249.49. According to a report recently filed with the governor by the chaplain of the penitentiary there were in the prison at the close of August 879 convicts. During the month only 5 new prisoners were received, while 75 were discharged; of the total number of prisoners, 655 are whites, 218 colored, 4 Indians and 2 Mexicans; of the whites, 8 are females, and of the colored, 7. A big suit was filed in the United States court at Topeka the other day by the attorneys of Frank Adams, receiver of the Commercial national bank, of Denver, who asks for a judgment of $41,000 against the Western Farm Mortgage Trust Co., of Law-

22. May 21, 1896 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, May 21, 1896

Click image to open full size in new tab

Article Text

The Denv r Bank Wreckers. Denver, May 20.-C. H. Dow. president of the Commercial National bank which failed in the panic of 1893, was arrested here to-day on indictments charging him with misappropriation of the funds of the bank and making false reports to the government. He was released under $5,000 bail. Sidney B. Clurkin, paying teller of the bank, indicted with Dow, was arrested this afternoon at Colorado Springs. It is said that O. E. Miller, president of the Miller Hernia company of Chicago, who obtained $145,000 from the Commercial bank on almost worthless securities, has also been indicted, but the federal authorities refuse to talk about the matter.

23. May 21, 1896 Rock Island Argus Rock Island, IL
Article from Rock Island Argus, May 21, 1896

Click image to open full size in new tab

Article Text

Ex-Bank President Arrested. DENVER, May 21.-C. H. Dow, president of the Commercial National bank, who failed in the panic of 1893, was arrested here yesterday on indictments charging him with misappropriation of funds of the bank and making false reports to the government. He was released under $5,000 bail.

24. December 19, 1896 Santa Fe Daily New Mexican Santa Fe., Santa Fe, NM
Article from Santa Fe Daily New Mexican, December 19, 1896

Click image to open full size in new tab

Article Text

BANK SCANDAL IN DENVER Alleged Frauds Connected with Management of Commercial National Bank Being Investigated. CHECK KITING IS FRANKLY ADMITTED President Dow Says He Was Not Aware of "Dr." Miller's Heavy Overdrafts Till It Was Too LateRotten Chicago Concern. Denver, Colo., Dec. 19.-0. E. Miller president of the Miller Hernia Treatment company and one of the three defendants in the Commercial National bank fraud case, now on trial in the United States district court here, told the story of his transactions with the bank with the utmost sang-froid on the witness stand today. He admitted that he kited checks with all the Denver banks and took upon himself all the blame for the failure of the Commercial bank in 1893, in consequence of his overdrafts, amounting to $125,000. He said his affairs and ac. counts were 80 involved and complicated that he supposed his indebtedness to the Commercial bank was only $25,000, when it actually reached S total of $110,000. He declared that the eco-defendants, President Charles H. Dow and Teller Sidney G. McClurken, had nothing to do with his schemes. As Dow and McClurken are charged in the indictment with being principals in the misappropriation of the bank's funds, and Miller only as an accessory, it is said that, if the jury should fail to convict the bank officers, Miller would himself escape under the provision of the common law, which provides that the accessory can not be convicted without the conviction of the principals. Following Miller, President Dow took the witness stand. He testified that, while he authorized the kiting of checks by Miller, he was not informed of the overdrafts until after they had become 80 large that it was impossible for Miller to make good his indebtedness to the bank. ROTTEN CONCERN IN CHICAGO. Chicago.-A bill for a receiver for the International Building & Loan Investment company was filed in the United States circuit court to-day in the name of Gustav Konze, of Newark, N.J. It is alleged that the association is hopelessly insolvent and has been wrecked by a majority of the directors, who are seeking to evade responsibility by placing in their stead reputable business men for the purpose reorganization. It is charged that the assets do not exceed $370,000, while the liabilities are $940,000.