Contemporary wire reports (Dec 17–18, 1925) describe a heavy run on the North Denver State Bank during the afternoon of Dec. 17; the bank was closed/requested examiners to take charge and was placed in the hands of federal/state examiners on Dec. 17–18. Frozen livestock/cattle loans are repeatedly cited as the underlying problem. Sources say the bank was taken into examiners' hands but do not state whether it permanently failed or later reopened, so final disposition is unclear.
Events (2)
1.December 17, 1925Run
Cause
Local Shock
Cause Details
Heavy withdrawals triggered by impairment from 'frozen' cattle/livestock loan paper and shrinkage in cattle values
Measures
Officers requested examiners; payments reportedly continued until closing/request for examiners
Newspaper Excerpt
a heavy run started this afternoon on the North Denver bank ... Between three and four hundred persons were crowding about the teller's cage
Source
newspapers
2.December 18, 1925Suspension
Cause
Local Shock
Cause Details
Closed/taken into examiners' hands because of frozen credits on livestock loans and impairment of capital related to cattle loan losses
Newspaper Excerpt
The North Denver State bank was closed last night at the request of the officers of the institution after a heavy run during the afternoon.
Source
newspapers
Newspaper Articles (20)
1.December 17, 1925Turlock JournalTurlock, CA
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DEEDS OF TRUST
E. C. Jeffrys, et ux., to Eliza- hands of federal examiners. beth Bailey for Edward H. The examiners who ordered the Clark, Jr., $1600-S½ of S1/2 of banks closed have made no statelots and 8. all of 9 and 10 of ment or explanation. Simpson Tract. A crowd of several hundred Frank Cerroni, widower to stood in the street in front of the Shanislaus Co. Abst Co., Tr. for Broadway bank at 1 o'clock waitE. Jeffreys, $10-Lots 21, 22, ing for some information con23 and 24 of Simpson Tract cerning the condition of the inC. Merritt, et ux., to Claus stitution. Johnson, et al., Trs. for Alfred The Broadway National had deposits of over $3,000,000, accordNW1/ of Sec. 33. in T. 4 S., R. ing to the last published state10 E., M. D. B. & M. ment. Mark Bomboy, et ux., to Sunny The Drovers' National bank had Valley Land & Title Co., o corp., deposits of approximately $1,000,Tr. for Roscoe A. Lang. $1250000. N½ of lot 32 of Broughton ColExcitement was high at the Tract stock yards, where the Drovers L. W. Fulkerth, et ux., to T is located Many passed by the H. Kewin, et al., Trs. for United bank but paused only to read Bank & Trust Co. of Calif., $4,000 the sign on the door which said -Lots 1, 2 and 3 in block 107 of the bank had been closed by the the City of Modesto. board of directors and was in the F. Ellis. et ux., to Sunny hands of federal examiners. Valley Land & Title Co., Tr. for A heavy run started this afterAlbert Simpson, et ux., jt. tens, noon on the North Denver bank 3 and 4 in block 424 another of the Hollis banks. Beof the City of Modesto. tween three and four hundred
2.December 17, 1925The Hanford SentinelHanford, CA
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EXAMINERS CLOSE TWO BANKS
Denver, Dec. 17. (United Press.) Two Denver banks. the Drovers National Bank and the Broadway National Bank, closed their doors at noon today and are in the hands of federal The examiners who ordered the banks closed have made no statement or crowd of several hundred stood in the street in front of the Broadway bank at o'clock waiting for some information concerning the the institution The Broadway National had deposits of over $3,000,000 according to the published statement. The Drovers had deposits approximately Excitement was high the stock yards, where the Drovers located. Many passed by the bank but paused only to read the sign on the door which said the bank had been closed by the board of directors and was in the hands of federal examiners. heavy run started this afternoon on the North Denver Bank, another of the Hollis banks. Between three and four hundred persons were crowding about the teller's cage and in the street shortly before closing time. Payments had not been stopped
3.December 17, 1925Progress-BulletinPomona, CA
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TWO DENVER BANKS CLOSE
Federal Examiners Take Charge of Drovers and Broadway National
NO REASON GIVEN
Deposits Total 4 Million; Action Starts Big Run On Allied Institution
By United Press Leased Wire. DENVER, Colo., Dec. Denver banks, the Drovers Nationbank and the Broadway National bank, closed their doors at noon today and are in the hands of federal examiners. The examiners who ordered the banks closed have made no statement or explanation. of several hundred stood in the street in front of the Broadway bank at o'clock waiting for some information concerning the condition of the institution. The Broadway National had deposits of over $3,000,000. according to the last published statement. The Drovers National bank had deposits of approximately $1,000,000. Excitement was high at the stock yards, where the Drovers is located. Many passed by the bank but paused only to read the sign on the door which said the bank had been closed by the of was in the hands of federal examiners. heavy run started this afternoon on the North Denver bank another the Hollis banks. Between three and four hundred persons were crowding about the telIer's cage and in the street shortly before closing time. Payments had not been stopped at m.
4.December 18, 1925The Washington Daily NewsWashington, DC
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Four Denver Banks Close in Two Days; Crowds Panicky
Depositors Start Run on Fifth Bank, But it Continues to Pay Off; No Fraud Found
By United Press
DENVER-Another bank - the fourth in two days-closed here today when the Metropolitan Bank failed to open its doors. Yesterday the Drovers National, Broadway National and the North Denver State Banks were placed in the hands of federal and state examiners.
Deposits Dwindle
James E. Adams, president of the Metropolitan Bank, said his institution had been turned over to the examiners at his request. The Metropolitan several weeks ago had deposits of $400,000, and since then they have dwindled to about $100,000 Adams said. "In view of the bad banking situation here, and to protect the interests of our depositors, we thought It advisable to turn the bank over to state officials," he said.
Crowds Panicky When the three banks closed yesterday, word spread rapidly thru the shopping district and throngs waited for hours in front of the banks, but no word came from examiners. Scores of panicky depositors started a run on the Central Savings & Trust Co., but this bank continued to pay off until closing time, when it was announced the institution was sound. No evidence of fraud has been found. A sudden shrinkage in cattle values is blamed.
5.December 18, 1925The Daily ReportOntario, CA
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3RD DENVER BANK Rough Dip ORDERED CLOSED Bishop's 1-1b. Box Christmas Special
Frozen Cattle Paper is Cause for 2 Closings Says Bank President
DENVER, Colo.-Four banks have closed their doors in Denver within two days. The Metropolitan State bank today failed to open its doors. Yesterday the Drovers National, Broadway National and the North Denver State bank all were placed in the hands of federal and state examiners.
DENVED. Colo. With Christmas shopping at its height, three Dates-Bulk Denver banks were today in the 2 pounds 25c hands of bank examiners. The Drovers National bank and Plums-Preserves the Broadway National bank were closed at noon yesterday when It was found they could not meet their liabilities. The North Denver State bank Nutola was, closed last night at the request of the officers of the instiFirst Grade Oleo tution after a heavy run during the afternoon. Made by Armour & Co. Although no statement has been SPECIAL SATURDAY issued by Gordon Hollis, president of two of the closed banks, he replied affirmatively to questions 25c that frozen paper on cattle loans was a cause of his two banks closing.
6.December 18, 1925The Indianapolis TimesIndianapolis, IN
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FROZEN CREDITS CLOSE 5 BANKS Denver Nervous After Series of Failures. Bu United Press DENVER. Colo., Dec. 18.--With five local banks closed and in the hands of bank examiners, all Denver nervously awaited the next move in financial circles today. The Capitol Hill State Bank was put in the hands of receivers this morning after the Metropolitan State Bank failed to open its doors. Yesterday the Drovers National, the Broadwey National and the North Denver State Bank were placed in the hands of Federal and State examiners. Frozen credits and the depression in the livestock industry were jointly blamed for the failure of the institutions whose deposits total several million dollars.
TWO MORE BANKS CLOSE Epidemic of Financial Disaster In Denver - Four Institutions Now Have Closed Doors. Denver. Colo., Dec. 18 (AP) -Two additional Denver banks-the Capitol Hill State bank and the Metropolitan State bank-failed to open today. Two National banks and one state bank were closed yesterday. Grant McFerson, state bank commissioner announced that examiners had taken charge of the Metropolitan and Capitol Hill banks. Both are small institutions. Steady withdrawals from the Metropolitan during the week and a run on the Capitol Hill yesterday were instrumental in the closing, officials said. The banks closed yesterday were the Broadway National, the Drovers National and the North Denver bank, the latter a state institution. These banks had deposits of about $3,500,000. The Broadway National was the largest with deposits of about $2,500,000. Impairment of capital and frozen paper in livestock loans were ascribed as the reason for the closing of the two National banks. Gordon Hollis was president of the two National banks and his wife, Mrs. M. E. Hollis, was president of the North River bank.
8.December 18, 1925The Bismarck TribuneBismarck, Mandan, ND
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McFerson announced that his department's examiners had taken charge of the Metropolitan and Capitol Hill banks. Both are small institutions. Steady withdrawals from the Metropolitan during the week, and a run on the Capitol Hill yesterday. were factors in the>closing, officials said. The banks closed yesterday were the Broadway National, the Drover's National, and the North Denver bank, the latter a state institution. These three banks had deposits of approximately $3,500,000. The Broadway National was the largest, with deposits totaling about $2,500,000. - Impairment of capital and frozen paper in livestock loans were ascribed as the reasons for the closing of the two national banks.
9.December 18, 1925Petaluma Argus-CourierPetaluma, CA
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FOUR DENVER BANKS CLOSE THEIR DOORS
Frozen Paper On Cattle Given As Cause; Bank Examiners Have Been Investigating For Several Days. Recent Depositors
Protected.
(By United Press) DENVER, Colo., Dec. 18.With Christmas shopping at its height three Denver banks were today in the hands of bank examiners.
The Drovers' National bank and the Broadway National bank were closed at noon yesterday when it was found they could not meet their liabilities. The North Denver State bank was closed last night at the request of the officers of the institution after a heavy run during the afternoon. Although no statement has been issued by Gordon Hollis, president of both the closed banks, he replied affirmatively to questions that frozen paper on cattle loans was the cause of the two banks closing. It was announced today that all business done during the forenoon yesterday was kept separate and that deposits made will be returned in full. It was learned that L. K. Roberts, chief national bank examiner of this district, had been here for a week making an inspection of all Denver banks. J. V. Cockins, elected president of the Central Savings Bank & Trust Co. with the resignation of Hollis yesterday morning, issued a statement that this bank was not affected by the resignation of its president and that it had 40 per cent of its assets available to pay depositors. DENVER, Colo., Dec. 18.The fourth bank to close here within two days closed this morning when the Metropolitan State bank failed to open its doors. Yesterday the Drovers' National, the Broadway National and the North Denver state bank closed.
10.December 18, 1925Salt Lake TelegramSalt Lake City, UT
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TWO DENVER CLOSED
Frozen Paper Given as Cause
DENVER, Colo., Dec. 18 (United Press.-With Christmas shopping at its height three Denver banks were today in the hands or that deposits made you be returned examiners.
The Drovers National bank and the Broadway National bank were closed at noon yeaterday, when It was found they could not meet their liabilities. The North Denver State bank was closed last night at the request of the officers of the institution after a heavy run during the afternoon. Although no statement has been Issued by Gordon Hollis, president of both the closed national banks, he replied affirmatively to questions that frozen paper on cattle loans was a cause of the two banks closing. It was announced today that all business done during the forenoon yesterday was kept separate and in full.
It was learned that L. K. Roberts, chief national bank examiner of this district, had been here for a week making an Inspection of all Denver banks. J. V. Cockins, elected president of the Central Savings Bank and Trust company, with the resignation of Hollis yesterday morning. issued a statement that this bank was not affected by the resignation of its president and that R had 40 per cent of Its assets available to pay depositors.
11.December 18, 1925Des Moines TribuneDes Moines, IA
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THREE DENVER BANKS CLOSED BY EXAMINERS
Denver Dec. 18 (U Christmas shopping at its height three Denver banks were today in the hands of bank examiners The Drovers National bank and the Broadway National bank were closed at noon yesterday when it was found they could not meet their The North Denver State bank was closed last night at the request of the officers of the institution after a heavy run during the afternoon.
12.December 18, 1925Visalia Daily TimesVisalia, CA
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CLOSING OF FIVE BANKS HARD BLOW TO DENVER
All Sorts of Rumors Said to Be Afloat in Colorado City
CHRISTMAS BUSINESS IS STANDSTILL
Police Called to Preserve Order When Run Is Started on Bank
(United Press Leased Wire) Colo., Dec. local bankers and financiers were conference today to devise some means bring an end to the sitnation here that has caused the closing of five banks within two days, hundreds depositors exchanged rumors and discussed their Christmas outlook with their money tied in the closed up The series of bank closings startyesterday when the Drovers National bank. the National bank and the North Denver State closed their doors. Today the Metropolitan State and the Capitol Hill State banks failed to open. The Central Savings bank and Trust company took advantage of law making it give sixty days' notice before their savings accounts. The total amount of deposits tied in the five banks which have closed approximates The greatest excitement prevailed here today that has been seen for Business the Christmas shopping season felt sharply the financial condition. Many persons could not get their refused to spend. front of the Central Savings Trust company, where 500 perthere was much excitement and police were called to order believed that all the small banks in the city will before the day closes take advantage of the sixty day law. According the officials of all but the two national banks that closed yesterday, there is no cause alarm as the banks were placed the hands of examiners to protect depositors. many rumors were afloat throughout the morning that was impossible to check half of them. Employes offices and laborers (Continued Page Three)
13.December 18, 1925Visalia Daily TimesVisalia, CA
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CHRISTMAS BUSINESS A STANDSTILL
Police Called to Preserve Order When Run Is Started on Bank
(United Press Leased Wire) Dec. local bankers and financiers were today to devise some means to bring an end to the sitnation here that has caused the closing of five banks within two days. hundreds of depositors exchanged rumors and discussed their Christmas outlook with their money tied up the closed institutions. The series of bank closings startyesterday when the Drovers National bank, the Broadway National bank and the North Denver State bank closed their doors. Today the Metropolitan State and the Capitol Hill State banks failed open. The Central Savings bank and Trust company took advantage of law making give sixty days' notice before their The total amount of deposits tied in the five banks which have closed approximates The greatest prevailed here today that has been seen for years. Business height the shopping season felt sharply the financial condition. Many persons could not get their money refused to spend. In front of the Central Savings Trust company, where 500 pergathered. there was much excitement and police were called to believed that the small banks in the city will before the day closes take advantage of the sixty day law. According to the officials of all but two national banks that closed yesterday, there is no cause for alarm as the banks were placed the hands of examiners to prodepositors. So many rumors were afloat throughout the morning that was impossible to check half of them. Employes in and laborers (Continued on Page Three)
14.December 18, 1925The Oklahoma NewsOklahoma City, OK
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FIVE DENVER BANKS CLOSE
Three Yesterday and Two Today Fail to Open Doors five local banks closed and the of bank
Denver nervously the in financial circles today The Capitol State bank put the hands of this morning the State failed the Drovers the Brondway and
North banks in of federal and the blamed the that for flocked
15.December 18, 1925News-PilotSan Pedro, CA
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Frozen Loans Force Closing of Three Banks in Denver
(By United Press) DENVER. Colo., Dec. Christmas shopping at its height, three Denver banks were today hands of bank examiners. The Drovers National Bank and the Broadway National Bank closed noon yesterday when found they could not meet their liabilities. The North DenState Bank closed last night the request of the offiof the institution after heavy during the afternoon. Although statement has been issued by Gordon Hollis, president of the closed banks, replied questions that frozen paper cattle loans cause his two banks closing.
16.December 18, 1925The Chickasha Daily ExpressChickasha, OK
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FROZEN LIVESTOCK
OFFICERS STATE CLOSE ONLY FOR SHORT TIME
Examiners Chance Examine Books: of Crowd Run
Denver, five local banks closed hands bank Hill State Bank hands this after Metropolitan State Bank open the the and the were placed in the hanns of federal Frozen credits and the depression the Industry were jointly blamed the closing instiutions whose deposits total several millions dollars. While he benef was expressed by that the would coon their affairs straightened about the doors the banks no tices and speculated financial Police were charge crowd estima than hundred the Savings Bank Only depositors were admitted their funds. With Christmas shopp ng its found unable much buying and failures in were Officers banks however doors closed examinbooks banks some wealthiest izens the mass of day laborers the north Each on apparentll held the same hope- that closing only temperary merely for the of readjusting the finances of the institutions.
Denver Dec Christshopping height three Denver banks Drovers National Bank and Broadway could bilities. The North Deaver State Bank was closed nigh request officers heavy run no Gordon president two closed bunks plied that frozen on the cause of was announced all business done during the forenoon yesterday was kept separate and that deros ts made will be returned in full.
17.December 18, 1925The Kentucky PostCovington, KY
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FIVE BANKS IN DENVER CLOSE
Frozen Paper on Cattle Loans Is Blamed
By United Press. DENVER, COL., Dec. 18.-With five local banks closed and in the hands of bank examiners, all Denver nervously next move financial circles today The Capital Hill State Bank was put in the hands of receivers today the Metropolitan State Bank failed to open its doors. Yesterday the Drovers National the Broadway National and North Denver State Banks were taken over by federal and state ex James E. Adams, president of Metropolitan, the bank had been turned over to state examiners his request. The Metropolitan several weeks ago had deposits $400,000, Adams Since that time they have dwindled to "In view of the bad banking situ ation here and to protect our depositors," he said, "we deemed it ad state visable turn the bank over to Drovens National Bank and the Broadway National Bank closed at noon They could not meet last North night Denver State Bank closed heavy Cockins, elected president run, of Central Savings Bank Trust Co., with resignation of Gordon HoMis, president issued of the two national banks, that his bank was not affected by Hollis' resignation.
18.December 18, 1925York News-TimesYork, NE
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Three Denver Banks in Examiners' Hands
DENVER Colo., Dec. 18.-(UP) With Christmas shopping at its height, three Denver banks were today in the hands of bank examiners The Drovers National bank and the Broadway National bank were closed at noon yesterday when it was found they could not meet their liabilities. The North Denver State bank was closed last night at the request of the officers of the institution after a heavy run during the af-
Although no statement had been issued by Gordon Hollis, president of the two closed national banks, he replied to, questions that frozen loans on cattle were a cause of their closing.
19.December 18, 1925Daily American RepublicPoplar Bluff, MO
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FIVE DENVER BANKS CLOSED
Ey United Press DENVER. Colo., Dec. five local banks closed and in the hands of bank examiners. all Denver nervously awaited the next move in firencial circles today. The Capitol Hill State Bank was put into the kinds of receivers this afternoon after the Metropolitan State Bank failed to open its doors. Yesterday. the Drovers' National. The Broadway National and the North Denver State Banks were placed in the hands of federal and state examiners. Frozen credits and the depression in the live stock industry were jointly blamed for the closing of the Institutions whose deposits total seven millions of dollars. While the belief was expressed by officials that the banks would open for business as soon as their affairs were straightened out, the depositors about notices of closing and speculated on their chances. Police were in charge of a crowd estimated at more than 500 persons who started on the Central Savings Bank today. Only few depesitors were admitted at'a time. With Christmas shopping at its peak, depositors found themselves unable to do much buying and recalling two previous bank failures in the past two years.
By United Press
DENVER. Colo., Dec. 18.-With Christmas shopping at its height, *hree Denver banks today were in the hands of bank examiners. The National Bank and the Broadway National Bank were closed at noon yesterday when it was found they could not meet their liabilities. The North Denver State Bank was closed last night at the request of the officers of the institution after a heavy run during the afternoon. Although no statement has been issued by Gordon Hollis, president of the two closed National banks, he replied affirmatively to questions that frozen paper cattle loans were the cause of their closing. It was announced today that all business done during the forenoon yesterday was kept separate and that deposits made will be returned in full
20.December 20, 1925The Daily WorkerNew York, Chicago, NY
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FIVE BANKS CLOSE IN DENVER WITHIN TWENTY-FOUR HOURS DENVER, Colo., Dec: 18.-The Metropolitan State Bank and the Capitol Hill State Bank closed their doors here today, bringing the number of banks to close up within 24 hours to five. The North Denver State Bank closed after examiners had taken charge of the Broadway National & Drovers' National Banks. Total deposits of $4,000,000 are involved. "Frozen" assets are given as the reasons for the closing of the banks. Depositors fearing loss of their savings have started runs on the other banks in the city.
