1144. National Bank of Commerce (Denver, CO)

View Charter #4358 on SPMC

Bank Information

Episode Type
Run Only
Bank Type
national
Bank ID
4358
Charter Number
4358
Start Date
April 22, 1896
Location
Denver, Colorado (39.739, -104.985)

Metadata

Model
gpt-5-mini
Short Digest
584f5ee8e1af8aeb

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Multiple contemporaneous newspaper accounts (April 22–23, 1896) report that the failure/closing of the American National Bank of Denver precipitated a heavy run on the National Bank of Commerce. The Commerce paid checks and stood the drain, and there is no report that it suspended or closed; run subsided by about noon. Classified as run_only (run occurred, bank remained open).

Events (3)
1. July 8, 1890 Chartered
Source
historical_nic
2. April 22, 1896 Run
Cause
Local Banks
Cause Details
Run was triggered by the failure/closing of the American National Bank of Denver on April 22, 1896.
Measures
Paid every presented check; continued to meet withdrawals. Associated banks offered aid if necessary.
Newspaper Excerpt
A run was at once precipitated on the National Bank of Commerce; the bank stood the drain, and at noon had paid every check presented.
Source
newspapers
3. November 14, 1908 Voluntary Liquidation
Source
historical_nic

Newspaper Articles (10)
1. April 22, 1896 The Topeka State Journal Topeka, KS
Article from The Topeka State Journal, April 22, 1896

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Article Text

HEAVY BANK FAILURE. American National Bank of Denver Breaks-Run on the Bank of Commerce. Denver, April 22.-The American National bank failed to open this morning. A notice was placed on the door to the effect that the directors had deeided to liquidate. The step was taken on account of internal dissension. It is said all depositors will be paid in full. Seph T. Hill is in charge of the bank on behalf of the government. The posted notice was as follows: "This bank has closed its doors by vote of its directors and is in my hands ES representative of the government. "SEPH T. HILL." The announcement of the failure does not come as a surprise to the business men of Denver nor indicate any lack of confidence in the general business situation. The condition of the bank has been weak for a long time because of disagreements among the large stockholders, directors and officers. The retirement from the directorate and the sale of the stock of several prominent and wealthy men has materially reduced the business of the bank and made it possible to carry it on profitably under present conditions. At the last report made at the close of business March 6. the total deposits were $1,471951: loans and discounts, $1,128,271: cash on hand. $232.265. The capital stock of the bank is $500,000: surplus fund, $150,000. The assets of the bank amount to $2,245,173. and it is claimed that but little trouble will be experienced in realizing on them. The following statement was taken from the books of the American National bank this morning: Resources, cash and exchange, $70,300: bills receivable, $1,078,000; stock and securities, $265,435; real estate, $136,590; excess on circulation, $22,000; total, $1,572,325. LIABILITIES. Individual deposits, $530,712; demand deposits, $28,698; time deposits, $66,297; due other banks, $97,024; borrowed money, $142,500; total, $865,231. A comparison of this statement with that published in March shows that the bank's deposits and reserve have declined very rapidly. Over $200.000 were withdrawn Monday and Tuesday of this week and there being only $70.000 left. the directors decided that the best thing to do was to close the bank Among the bank's assets are notes for $500,000 set aside for the reduction of the capital stock from $1,000,000 to $500.000 which was recently made and one-fifth interest in the Strong mine at Cripple Creek The president of the bank is John R. Hanna. The directorate consists of some Denver, of including the leading business men of Fine Pernst. Wm. and Moritz Barth, Mitchell Benedict and George W. Ballantine. In consequence of the failure a run has been started on the National Bank of Commerce.

2. April 22, 1896 Las Vegas Daily Optic Las Vegas, NM
Article from Las Vegas Daily Optic, April 22, 1896

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Article Text

Denver Bank Closes. DENVER, Colorado, April 22 - The American National bank, of this city, closed to-day. President Hanna claims an excess of $650,000 over all liabilities. The suspension was caused by a slight run on the National Bank of Commerce, but the latter paying every demand made promptly, the failure is attributed to a gradual loss of business and the difficulty of making collec tions.

3. April 23, 1896 New-York Tribune New York, NY
Article from New-York Tribune, April 23, 1896

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Article Text

A DENVER BANK CLOSES. EXCITEMENT IN THE COLORADO CAPITAL-RUN ON ANOTHER BANK Denver, April 22.-The American National Bank failed to open its doors this morning, a notice being posted on the window that, "By order of the directors, the bank is in the hands of the Government." Bank Examiner Hille took charge. The incident caused much excitement and a run was at once precipitated on the National Bank of Commerce, a crowd of clamorous depositors gathering soon after 10 o'clock. The bank stood the drain, and at noon had paid every check presented. It is understood the associated banks will aid the Commerce should it be necessary. The failure of the American was not unexpected in banking circles. One by one its leading financial backers have been dropping out and financiers knew that failure was inevitable. At a meeting of the associated banks held in the First National parlors last night proffers to assist the failed concern were made If the directors would do their part. This being refused, the American closed. D. H. Moffatt, president of the First National, with 1tg $8,000,000 of deposits and $5,000,000 of cash on hand, said this morning that the failure had no far-reaching significance. No important Industry or enterprise would be injured by it and notwithstanding the local excitement created, the facts justified the statement that no panic would ensue and that It was merely a crowding-out process. The failure and the run, however, caused intense excitement throughout the city, and crowds gathered about the two banking houses involved. As the Bank of Commerce continued to pay off steadily the excitement began to subside. Nothing unusual occurred at the other banks. At half-past 12 the run on the Bank of Commerce closed after two-thirds of the depositors had withdrawn their funds. A public meeting has been called by the angry depositors of the American National for tomorrow to protest against the alleged rottenness of the institution. The closing of the American National Bank of Denver wa3 not a surprise to the New-York financial community. The bank tried to borrow $50.000 of the Third National Bank, its New-York correspondent, Tuesday, but the request was refused. President A. B. Hepburn, of the Third National, said "Our relations with the American National Bank were satisfactory. We knew It had been having a hard struggle. A few months ago several of the men interested in It came East and tried to get new capital for the bank, but failed."

4. April 23, 1896 The Anaconda Standard Anaconda, MT
Article from The Anaconda Standard, April 23, 1896

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Article Text

BANK BROKE. The American National of Denver Closes Its Doors. Denver, Col., April 22.-The American National bank failed to open this morning. The following notice was posted: "This bank has closed its doors by a vote of its directors and is in my hands as a representative of the government. "Zeph T. Hill." This failure does not come as a surprise nor indicate any lack of confidence in the general business situation. The condition of the bank has been weak a long time because of internal dissensions. The retirement from the directorate and sale of stock of several wealthy men materially reduced the business of the bank. At the last report made at the close of business March 6, the total deposits were $1,471,951; loans and discounts, $1,128,271; cash on hand, $323,265. The capital stock is $500,000; surplus, $150,000. The assets amount to $2,245,173, and it is claimed that there will be but little trouble in realizing on them. The following statement was taken from the books of the American National bank this morning: Resources, cash and exchange, $70,300: bills receivable, $1,078,000: stock and securities, $265,435; real estate, $136,590: excess on circulation, $22.000. Total, $1,572,325. Liabilities: Individual deposits, $530,712; demand deposits, $28,698; time deposits, $66,297; due other banks, $97,024; borrowed money, $142,500. Total, $865,231. A comparison of this statement with that published in March shows the bank's deposits and reserve declined very rapidly. Over $200,000 were withdrawn Monday and Tuesday of this week and there being only $70,000 left the directors decided the best thing to do was to close the bank. Besides the resources given above are notes for $500,000 set aside for the recent reduction of the capital stock from $1,000,000 to $500,000 and a fifth interest in the Strong mine at Vic. tor. The president of the bank is John R. Hanna. The directorate consists of some of the leading men of Denver, including Fine P. Ernest, William and Moritz Barth, Mitchell Benedict, George W. Ballantyne and T. J. O'Donnell. In consequence of the failure a run has been started on the National Bank of Commerce. John B. Hanna, president, and Howard Evans, cashier of the American National bank, were arrested late this afternoon on warrants from Justice Chapman's court charging them with receiving deposits after the bank was known to be in a falling condition. Both were released on bonds.

5. April 23, 1896 The Morning News Savannah, GA
Article from The Morning News, April 23, 1896

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Article Text

BANK DOORS SHUT AT DENVER. THE AMERICAN NATIONAL FAILS AND A RUN FOLLOWS. Two-Thirds of the Depositors in the National Bank of Commerce Withdraw Their Deposits-Other Banks Stand by It and the Excitement Finally Subsides-A Bitter Feeling Against the American National. Denver, April 22.-The American National Bank failed to open its doors this morning, a notice being posted on the window that "by order of the directors the bank is in the hands of the government." Bank Examiner Hillo took charge. The event caused much excitement and a run was at once precipitated on the National Bank of Commerce, a crowd of clamorous depositors gathering soon after 10 o'clock. The bank stood the drain, and at noon had paid every check presented. It is understood the associated banks will aid the Bank of Commerce should it be necessary. The failure of the American was not unexpected in banking circles. One by one its leading financial backers have been dropping out, and financiers knew that failure was inevitable. At a meeting of the associated banks, held in the First National Bank parlors last night, proffers to assist the failed concern were made, if the directors would do their part. This being refused, the American was closed. The failure and the run caused intense excitement throughout the city and the crowds gathered about the two banking houses involved. As the Bank of Commerce continued to pay off steadily, the excitement began to subside. Nothing unusual occurred at the other banks. At 12:30 o'clock the run on the Bank of Commerce ended after two-thirds of the depositors had withdrawn their funds. A public meeting has been called by the angry depositors of the American National for to-morrow to protest against the alleged rottenness of the institution.

6. April 23, 1896 The Providence News Providence, RI
Article from The Providence News, April 23, 1896

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Article Text

Heads of Bank Arrested. Denver, April 23.-The American National bank failed to open its doors yesterday. A run was at once precipitated on the National Bank of Commerce, but " stood the strain, and at noon had paid every check presented. It is understood the associated banks will aid the Bank of Commerce should it be necessary. John R. Hanna, president, and Howard Evans, cashier of the American National bank. were arrested last night on warrants charging them with receiving deposits when the bank was known to be in a failing condition. Both were released on bonds.

7. April 23, 1896 The Norfolk Virginian Norfolk, VA
Article from The Norfolk Virginian, April 23, 1896

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Article Text

CLOSING A NATIONAL BANK. A Run Made on the Commerce Bank and is Promptly Met. Denver, Col., April 22.-The American National Bank failed to open its doors this morning. a notice being posted in the window that "by order of the directors the bank is in the hands of the Government." Bank Examiner Hill took charge of the institution. A run was at once precipitated on the National Bank of Commerce. a crowd of clamorous depositors gathering soon after 10 o'clock. The bank stood the drain, and at noon had paid every check presented. It is understood the associated banks will aid the Bank of Commerce should it be necessary. The failure of the American was not unexpceted in banking circles. At a meeting of the Associated Banks, held in the First National parlors, last night, proffers to assist the failed concern were made if the directors would do their part. As the Bank of Commerce continued to pay off steadily the excitement began to subside. At 12:30 the run on the Bank of Commerce ended after two thirds of the depositors had withdrawn their funds. A public meeting has been called by the angry depositors of the American National for to-morrow to protest against the alleged rottenness of the institution.

8. April 23, 1896 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, April 23, 1896

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Article Text

BANK RUN IN DENVER. The American National Fails-Bank of Commerce Suffers. DENVER, COL., April 22.-The American National Bank failed to open its doors this morning, a notice being posted in the window that "By order of the directors the bank is in the hands of the government." Bank-Examiner Hillo took charge. The event caused much excitement, and a run was at once precipitated on the National Bank of Commerce, a crowd of clamorous depositors gathering coon after 10 o'clock. The bank stood the drain, and at noon had paid every check presented. It is understood that the Associated Banks will aid the Bank of Commerce, should it be necessary. The failure of the American was not unexpected in banking circles. One by one its leading financial backers have been dropping out, and financiers knew that failure was inevitable. At a meeting of the Associated Banks, held in the First National parlors last night, proffers to assist the failed concern were made, if the directors would do their part. This being refused, the American closed. The failure and the run caused intense excitement throughout the city, and crowds gathered about the two bankinghouses involved. As the Bank of Commerce continued to pay off steadily, however, the excitement began to subside. At 12:30 the run on the Bank of Commerce had ended, after two thirds of the depositors had withdrawn their funds. A public meeting has been called by the angry depositors of the American National for to-morrow, to protest. against the alleged rottenness of the institution.

9. April 24, 1896 Morning Appeal Carson City, NV
Article from Morning Appeal, April 24, 1896

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CONDENSED ITEMS. The American National Bank at Denver failed yesterday, and the failure was folowed by a run on the National Bank of Commerce. Christian Anderson of Connecticut was killed by lightening as he sat at the dinner table with fourteen relatives. No one else was hurt Bootn Tucker says that there have been fiew desertion from the Salvation Army in America, and several of the deserters have returned to the army. An Iowa farmer experimenting with the Roentgen photography claims to have accidntally discovered rays that will convert base metals into gold. The Senate Committee on Claims has reported in favor of paying $330,150 to the heirs of John Roach in connection with the building of the Chicago, Boston and Atlanta. A nephew of Rev. Dr. Parkhurst was killed in Texas by the premature explosion of a shell while a salute was being fired by the United States artilery, in which he was a private, The Hungarian police are ivestigating the circumstances of the death of Baron de Hirsch, there being rumors that it was of a suspicious character. These rumors, however, are generally discredited. When the United authorities finally decided that Chin Yuen Sing was not entitied to live in America, and must be sent back to China, it was found that Chin was dead and buried. But the authorities are not satisfied as to the identity of the dead man, and have a suspicion that Chin's body does not rest in the grave.

10. April 30, 1896 The Dakota Chief Gann Valley, SD
Article from The Dakota Chief, April 30, 1896

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Article Text

Denver Bank Closes. The doors of the American National Bank at Denver closed Wednesday. A notice was posted that the directors had decided to liquidate on account of internal dissensions. It is said the depositors will be paid in full. The statement of the condition at the time of closing the doors shows: Resources, $1,572,325; liabilities, $865,231. In consequence of the failure a run was begun on the National Bank of Commerce.