1148. Peoples National Bank (Denver, CO)

View Charter #4084 on SPMC

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
4084
Charter Number
4084
Start Date
July 18, 1893
Location
Denver, Colorado (39.739, -104.985)

Metadata

Model
gpt-5-mini
Short Digest
b7a8ddd185ccf16b

Response Measures

Capital injected, Full suspension, Books examined

Other: Directors later proposed assuming liabilities and buying the suspended savings-bank's assets (a proposed recapitalization/asset purchase) and compliance with Comptroller's conditions to reopen; Comptroller/examiner oversight led to reopening.

Receivership Details

Depositor recovery rate
76.2%
Date receivership started
1899-12-20
OCC cause of failure
Losses
Share of assets assessed as good
7.6%
Share of assets assessed as doubtful
39.4%
Share of assets assessed as worthless
53.0%

Description

Contemporary articles report a run beginning July 18–19, 1893 after other Denver national banks posted notices; the People's (Peoples'/Peoples') National posted a closing notice July 19 and later reopened Aug 22, 1893 after complying with Comptroller requirements. OCR shows variants like People's/Peoples'; used provided name with that note. Cause assigned to runs/suspension is outbreak of runs triggered by failures/closures of other local banks.

Events (6)
1. July 30, 1889 Chartered
Source
historical_nic
2. July 18, 1893 Run
Cause
Local Banks
Cause Details
Panic followed notices that Union National, Commercial National and National Bank of Commerce would not open, triggering runs on other Denver banks including the People's National.
Newspaper Excerpt
A run was immediately started on all the other banks, though to no great extent on the People's National.
Source
newspapers
3. July 19, 1893 Suspension
Cause
Local Banks
Cause Details
Directors closed the bank due to heavy withdrawals following runs on several Denver banks and inability to realize immediate cash on assets.
Newspaper Excerpt
The People's National failed. ... The notice, on its doors read: This bank is closed by order of the board of directors. Assets, $1,100,000; liabilities, $310,000.
Source
newspapers
4. August 22, 1893 Reopening
Newspaper Excerpt
The Union and Peoples' national banks, which suspended on July 18 and 19, respectively, opened their doors for business at the regular hour yesterday, they having complied with all the requirements of the controller of the currency.
Source
newspapers
5. April 27, 1897 Voluntary Liquidation
Source
historical_nic
6. December 20, 1899 Receivership
Source
historical_nic

Newspaper Articles (23)
1. July 18, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, July 18, 1893

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THE PANIC IN DENVER People Needlessly Excited - The Banks Paying the Depositors. DENVER, Col., July 18.-No scene was ever witnessed here before like that this morning shortly after the hour when the banks opened for busi. ness. The failure of three savings banks yesterday had excited the missses, and at the hour of opening, the streets were crowded with anxious depositore. Eleven clearing house banks, located within four blocks O each other, were surrounded and far into the streets the crowd gathered till the police was called on to clear the way for traffic. At 10 o'clock the Union National, with is capital of a million dollars. posted notice that they would not open the doors. This started a panic and following quickly the Commercial National posted a similar notice. Then the National Bank of Commerce. A run was immediately started on all the other banks, though to 110 great extent on the People's National. The First National appears to have been in an unexceptionable condition, having overeixty per cent of the deposits on hand with a private fund of is million and a half in addi.

2. July 19, 1893 The Seattle Post-Intelligencer Seattle, WA
Article from The Seattle Post-Intelligencer, July 19, 1893

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Four Denver Banks Closed. DESVER, July 18.-When the banks opened for business this morning they were surrounded by crowds of anxious depositors, and the police were compelled to clear a way for traffic, At 10 o'clock the Union National bank posted notice that it would not open its doors, This started a panic, and following quickly the Commercial National posted a similar notice, then the National Bank of Commerce. A run was immediately started on all the other banks, although to no great extent upon the People's National. The excitement and demand upon the banks after money continued unabated until about 2 o'clock when it subsided at all the banks except the Utah State National and German Ns. tional, where the depositors seemed to increase instead of diminishing. Just be. fore the close the failure of the Mercantile Savings bank, with a capital of $100,000. was announced. Its assets are sufficient to pay ali the liabilities in time. D. H. Moffatt. president of the First National bank, stated that the deposits at his bank during the day greatly exceeded the with.

3. July 20, 1893 The Times Richmond, VA
Article from The Times, July 20, 1893

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Two More Heavy Failures Added to the Already Long List-Other Failures in the State. DENVER, COL., July 19.-The panic was on in this city to-day with renewed vigor, and, as a result, the old German a for stability of and the National, twenty with years' standing, reputation 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 line in front of the German, and by 9 o'clock there was one long sea of faces stretchthe street. At the ing down opposite corner, where the State Bank has so long done business, there was also quite a crowd of anxious depositors waiting the opening of the doors. Here the people were relieved of their agony at a few minutes after 9 o'clock, when a notice was posted on the door to the effect that the bank would not open, owing to the lack of roady cash, and the crowd moved away. At the German there was evidently a determination to go ahead with business up to almost the last moment, when a strip of paper was pasted on the 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. The notice, on its doors read: "This bank is closed by order of the board of directors. Assets, $1,100,000; liabilities, $310,000. 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 the long continued raid by depositors and inability to raise ready capital. All expect to resume shortly. Adams, bank to-day took of the Union ComFrank charge examiner, National, mercial National, National Bank of Commerce, State National and German National. This the run at the Denver was National evening over. with an enormous amount of still in sight. The same Is true and at money the business City Bank and all other banks, men are beginning to breathe freer. There has been a considerable number of failures among business houses of all kinds within the past three days, caused by attachments taken out by banks which foresaw their suspension. Five national banks are still open. The J. B. Wheling Banking Company, the pioneer bank of Aspen, Col.: the Bank of Sterling Sterling Col., and the Bank of Loveland, Col., have assigned. No statements of assets or liabilities have been issued. Among the failures that almost escaped notice was that of the Bank of North Denver yesterday afternoon. Business firms, whose embarrassment has become known, range from liquor saloors to street ailroads. There are in the list drive tores, lumber companies, gentlemen's furnishings, milliners, coal companies, ry goods houses, jewellers, ready-made lothing dealers, tailors and grocers. Two bank failures are reported at Asen and one at Loveland. Commercial ailures are also reported from many points in the State outside of Denver, due principally to the fact that the sufferers Reposited in Denver banks which have uspended. GREENY, COL., July 19.-The Union Bank closed its doors at 1 P. M. to-day, S nd a half hour later the Greeny Na1 lonal pulled down its blinds and turned ( he key in its door. The Union's statement avs that owing to the suspension of cert n in deposit Denver several National thousand Banks, dollars which of had its honey, and the fact that a steady with( rawal of deposits, amounting to about I $0,000. the past few days, they were comI elled to suspend business. They say heir liabilities are about $100,000. with sets and paid-up capital at $300,000. As oon as the fact of the suspension of hese banks became known, a steady run o as made on the First National Bank, e ut it continued to honor all checks and g rafts, and even after the regular closing II our cashed two checks presented. J ARMONSDALE, KAN., July 13.-The e itizens' Bank suspended yesterday. a TOPEKA, KAN. July 9.-Information as been received at the office of the I tate Bank Commissioner of the failure V e the State Bank of Parker, Linn r ounty, and of the Woodson State Bank A : Yate's Centre, Woodson county. Both e re small concerns n CITY, 1.-The OKLAHOMA July Bank 3 Oklahoma City and the Oklahoma Naonal closed their doors afterJ Bank There heavy run this on on. was a the irst National, but it withstood it all ght Statements are

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

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

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

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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

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

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

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

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

8. July 20, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, July 20, 1893

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teenth street almost to Market. Just before the hour of opening had arrived a notice was posted on the front door of the bank. announcing suspension of payment. The notice was as follows: "Owing to the inability of this bank to realize immediately upon its assets it has been decided by the board of directors to close the same." The posting of this notice caused a general stampede for the doors, all being anxious to read the announcement, but there was no show of hostile demonstration on the part of assembled depositors, and the police that had been placed there to keep order had little trouble in dispersing the crowd. Despite the naturally trying condition of things the people were remarkably cool, and aside from one or two women, who broke into tears when they learned that the bank would not open, there was little display of feeling. All was comparatively quiet around the People's National bank this morning, and the bank was open for a short time. When the suspension of the German and State banks was known the directors of the People's decided to close, and this notice was accordingly posted on the doors: "This bank is closed by order of the board of directors. Net assets, $1,100,000; liabilities, $310,000. Following the suspension of the State and German National, a Few Small Depositors who had their money in the First National renewed the run on that institution, but it was a small a fair and soon wore itself out. At 11 o'clock the run which was started on the First National bank was completely brok n. and quiet was restored. Around the Denver National, Colorado National, American National and City National banks all was quiet. There were very few calls for money, and a few of those who had withdrawn from the suspended banks, doubtless repenting their hasty and wholly unjustifiable actions in aiding in closing the suspended concerns, were depositing in the banks that yet remained open. Among the officers of the banks which were open for business the expression was unanimous that the flurry was at au end. and that the people would now see the folly of their actions in foreing a suspension of the banking institutions by withdrawing their deposits at once, and taking from circulation all the money that would ordinarily flow through the regular channels and help in sustaining the business public and the banks. The suspended banks all had much more than enough money to be considered a perfectly safe guaranty under ordinary circumstances, and with business at its normal condition, would have laughed at the idea of a run. Cashier Charles M. Clinton, of the German National. stated that during the past three months over $1,000,000 in deposits had been withdrawn, and The Continual Drain, together with the run yesterday. had placed the bank in such a condition that a temporary suspension was an absolute necessity, and that Frank Adams, bank examiner for the district, had taken charge. "I can say this much, however," continued Mr. Clinton, "the depositors will all get their money in time. We had the largest number of depositors of any bank in this city, consequently many of them were comparatively poor people, who easily became frightened. and drew out their savings, the aggregate amounting to a very large sum. The business men and heavier creditors have with drawn proportionately less than the class referred to. "The bank's statement will be out as soon as possible. and the only statement I can make at this time is our securities are of the first class and largely in excess of our liabilities, thus guaranteeing depositors against loss in the end." The State National was unable to give out a detailed statement. The withdrawal of deposits has been heavy for several months, eniminating in a run yesterday, which forced a temporary suspension of payment. The statement of the bank published in Monday's papers showed deposits to the amount of $756,789.79, with currency certificates, clearing house exchange, bank bills. specie and other available cash items amounting to $115,000.23, with which to meet demands. Other assets, large in value, but not Immediately Convertible Into Cash will protect the depositors from loss. A tour of the banks just before their closing hour showed that all excitement had died away, and there was not the semblance of a run. The officers of the banks stated that they were taking in more money than they were paying out. "I do not think I will have to place a bank in Denver in the hands of a receiver," said Hon. Frank Adams, bank examiner for Coiorado, today. Mr. Adams further stated that he believed that the suspended banks will all re-

9. July 21, 1893 The Indianapolis Journal Indianapolis, IN
Article from The Indianapolis Journal, July 21, 1893

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WAGON WHEAT 57c ARCADE MILLS, RESULT OF DENVER'S CRASH Trade Paralyzed in Colorado, and 30,000 Men Already Out of Work. Quiet Day in the Silver State Capital Following the Storm, but Strings of Out of Town Banks Are Tumbling All Around. DENVER, Col., July 20.-The closing down of many silver mines, smelters. and the reduction of the working forces of coal mines, railways and manufactories in this State, because of the reduction in the price of silver, has caused a deplorable condition of affairs among the laboring classes. I is estimated that to-day there are 10,000 men in Denver unable to secure employment. There are 20,000 in outside towns in the same condition, one-half of whom are making their way to this city, where they will become a public charge if conditions do not speedily change. The typographical union, at a meeting last night, appropriated $1,000 for the purpose of sending unemployed men to their homes in the East. The railways have been asked to make a fifteen-dollar rate for the men to any point between here and Chicago. A conservative estimate of the men discharged by railways, mines, business houses and factories since the silver panic started places the number at from 13,000 to 15,000. It is also estimated that Colorado, Utah, Montana and New Mexico merchants have countermanded orders on New York wholesale houses for goods during this time amounting to over $12.000.000. There will apparently be no more failures in Denver. The panic wore itself out yesterday with the failure of the People's, German and State National banks. This morning when the First, Nevada, Denver, City and American nationals opened their doors there were hardly a dozen depositors in all of them at the paying tellers' windows. In the First and Colorado National long string of depositors reaching nearly to the street were lined up in front of the receiving tellers' windows, and the money was going back into the bank vaults almost as rapidly as it was withdrawn during the past three days. The German, State and People's nationals could pay $3 for 81 if they could realize on securities. It 18 stated to-day that the McNamara dry goods house, which failed Monday for $260,000. have settled with their principal creditors, and will resume business Monday. The Roberts Hardware Company was attached this afternoon on a claim of the Colorado National Bank by Frank H. Bancroft for $13,000. The Adams Manufacturing Company was attached for $16,000. A number of the firms closed yesterday and the day previous will resume business to-morrow. Chief among these is the Flanders Dry Goods Company. the court having ordered the sheriff to turn the property over to the assignee, who will conduct the business pending settlement. The Hallack-Sayre Lumber Company and store resume. The the Palace Tucker drug Manufacturing will Company also has also made arrangements to resume. A number of others will open in a few days.

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

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

11. July 21, 1893 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, July 21, 1893

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Another Dry Goods Failure. DENVER, July 21.-The - Flanders Dry Goods company has been attached for $25,000, and in consequence has been compelled to make an assignment. Assets are estimated at $200,000 and liabilities at $120,000. The failure was caused by the suspension of the Peoples National bank.

12. July 21, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, July 21, 1893

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BUSINESS. DENVER, Colo., July 20.-There will reparently be no more bank failures in Denver, The panic wore itself out yesterday with the failure of the Peoples', German and State National banks. This morning when the First Colorado, Denver City and American National banks opened their doors there was hardly a dozen depositors in all of them at the paying tellers' windows. The First and Colorado Nationals a long string of depositors reaching nearly to the street were lined up in front of the receiving tellers' windows, and money was given back to the bank almost as rapidly as It was withdrawn during the past three days. The German, State and Peoples' Nationals could pay three for one, if they could realize on securities. There may be a few commercial failures in the city within the next few days as a result of the suspension of the banks, but it is believed in no instarce, whether banking or commercial house, will the failure be complete, and a resumption of business will surely follow short! It is stated to-day that McNamara's dry goods house, which failed Monday for $20,000 has settled with their principal creditors and will resume business Monday. In speaking of the financial condition in Denver to-day, D. H. Moffatt, president of the First National bank, sald: "Five National banks are absolutely all right and perfectly able to pay every dollar of their deposits and still continue business. The only person who will have trouble from this time on are those who caused their money to be locked up in suspended banks. The trouble, as far ILS banks are concerned. is over. " was bound to come, and I am glad It is ended, as confidance will now begin to restore itself and times grow better in Colorado."

13. July 24, 1893 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, July 24, 1893

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Bank Troubles Since January 1. 1 WASHINGTON, July 22.-Since Jan. nearly 200 national banks have closed their doors, against less than 50 during the same period last year. Of the failures this year five have been United States depositories, as follows: The First national bank of Little Rock, the Gate City national 1 ank of Atlanta, the People's national bank of Denver, the German national bank of Denver, the Kentucky national bank of Louisville. The latter bank which closed its doors today had by the last report received $330,000 of United States funds. The government, however, will not lose anything by these failures, as each national bank that is a government depository has to deposit United States bonds to the amount of government money it is allowed to carry. These bonds, in case of failure, are sold for the account the government and as United States bonds are at a premium in the financial market there is never any difficulty in realizing. Saturday's Bank Failures. LOUISVILLE, July 22. - -The Kentucky National Bank of this city closed its doors this morning. The capital stock is $1,000,000 paid up. This bank is a government depository, and its last statement showed $190,000 to the credit of the government. The loans and discounts outstanding amounted to $1,719,966 and the surplus was $108,500. KNOXVILLE, July 22.-The - State National bank closed this morning. The notice posted on the door says: "This bank has closed for liquidation. Depositors will be paid in full." Liabilities and assets are not known. MILWAUKEE, July 22.-The Milwaukee National bank and South Side Savings bank failed to open their doors this morning. Runs were made on all the leading banks in the city. Cleveland Counts Up. NEW YORK, July 25.-The - Bond Buyer today prints the following: "Just as we go to press we learn that President Cleveland has had made by one of the most

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

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

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

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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.

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

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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. August 9, 1893 Barbour County Index Medicine Lodge, KS
Article from Barbour County Index, August 9, 1893

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POINTS FOR THE PEOPLE. -Sects and creeds cut no figure in the battle for human rights. One Father McGlynn is worth more to humanity's cause than a regiment of Henry Ward Beechers. -Which would you prefer to have, a clearing house certificate or a green back issued by the government? Yet the latter has been branded by the national bankers as fiat money-Tacoma Sun. -If silver has no claim as a money metal because it is a product of the earth, gold loses its claim on the same ground. All the people ask is that the two metals shall be treated alike by our government.-Journal of Agriculture. -England had rather rule this country financially and commercially, by manipulating our legislation, than to conquer it by the arts of war. It serves her purpose as well, and is more healthful and less expensive.-Journal of Agriculture. -The present panic was deliberately planned and executed to bluff congress into the demonetization of silver, the purpose being to enhance the value of the securities held by the panic makers, by making them payable in gold val ues.-Journal of Agriculture. -Franklin was without doubt the all round wisest man this continenti ever produced, and he declared at that early day in favor of paper money, pure legal tenders, after a trial of the principle in the colony of Pennsylvanie from 1722 to 1762-National Watch man. 'Whatever a government agrees to receive in payment of the public dues, as a medium of circulation, is money, no matter what its form may be; treasury notes, drafts, etc. Such bills or paper, issued under authority of the United States, are money. ."-Henry Clay in the Senate, 1887. -The populist cause is sure to triumph. There is a moral wave sweeping over the country and by that wave one or both of the old parties will be lashed to pieces. The new issues are coming to the front and they will never down till they are settled and settled right.-Alliance Independent -In 1892 the production of silver was 58,000,000 ounces, of which the government bought 54,129,727 ounces, putting into circulation therefor $47,394,291 in treasury notes. Free coinage of the American product would have put into circulation $19,595,609 more money, after deducting silver used in the arts. This is $88,974,927 less than the gold lost by export during the year. -When we get a postal note or P. O. money order we know to an absolute certainty that it is as good as the cash itself, but when .we get a bank draft we look to see what bank drew the draft and upon what bank it was drawn and then look at the list of fallures. The Nebraska people's party boys were right when they took the lead for government banks.-Missouri World. -Since January 1 nearly two hun dred national banks have closed their doors, against less than fifty during the same period last year. Of the fall. ures this year five have been United States depositories, as follows: The First national bank, of Little Rook, Ark.: the Gate City national bank, of Atlanta, Ga.; the People's national bank, of Denver, Col.: the German national bank, of Denver, Col., and the Kentucky national bank, of Louisville. -Chicago has a new illustrated weekly devoted to the free coinage of silver. Its energies had better be expended in explaining the money function and the uselessness and waste of all the labor in digging and dying for some yellow and white minerals. The same labor expended in creating food, clothing, shelter, instruction and amusement would happify untold millions. The people can create all the money they want and print it on paper that didn't have to be mined at such lbor.-Coming Nation. -The industrial millions demand justice. Through special privileges and class legislation they have been defrauded. Throughallowing politicians and interested newspapers to do their thinking, they have permitted themselves to be well nigh enslaved. Their hope now lies in independent thinking. and in political unity of action. The first thing to be done is to abolish all class legislation, and to demand the government ownership of natural "monopolies,' as well as an expansion of the volume of currency, which will tend to relieve congested business conditions, and enable the slaves of the gold barons at least to live after paying their interest.-B. O. Flower. d -Superintendent-"You want a job driving one of our street sprinklers, eh? Ever had any experience?" Applicant-"No, but-" 'But what?" "Everybody tells me I'm so blind I can't see a street crossing ten feet away and-" "That'll do. Come 'round in the morning and take out the biggest sprinkler we own." - Buffalo Courier -Five-year-old Frances had been spending an afternoon with a little friend. When she returned home she found another little friend there who hadcometovisither "Etheldoesn'tlove you," said Frances to the second little to one the calling girl, referring upon. 'Why the not?" she asked had been visitor, somewhat surprised. "Tause she doesn't know you,' explained

18. August 22, 1893 Rock Island Daily Argus Rock Island, IL
Article from Rock Island Daily Argus, August 22, 1893

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Signs of the Times. CHICAGO, Aug. -- Among the indications of the existing condition in financial affairs are the following facts: At Denver-The Peoples' National and Union National, two of the suspended banks, have opened their doors for business. At Pittsburg-Seven large industrial establishment have resumed in part or wholly, giving employment to several thousand men. At Springfield, Ills.-The rolling mills which have been idle for several weeks hava resumed operations. At Chicago-Armour & Co. have received $500,000 in gold from Europe and will obtain $500,000 more in a few days. Attica, Ind.-The Citizen's National bank will reopen its doors in a few weeks. Over 1,000 'longshorement have struck on the Mallory, Ward and Clyde lines at New York against a reduction of 5 cents an hour in their wages. At New York-A thousand men, women, and children were fed by a saloonkeeper at East Broadway and Division street. At Denv r-One hundred men employed on the sewers of the city have struck be-

19. August 22, 1893 The Evening Herald Shenandoah, PA
Article from The Evening Herald, August 22, 1893

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Denver Banks Resume. DENVER, Aug. 22. - The Union and Peoples' national banks, which suspended on July 18 and 19, respectively, opened their doors for business at the regular hour yesterday, they having complied with all the requirements of the controller of the currency. The result has been & very material relieving of the financial stringency.

20. August 22, 1893 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, August 22, 1893

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Denver Banks Resume. WASHINGTON. August 21.-The following national banks. which suspended payment on Aug: 17 and Aug. 19, respectively, having complied with the conditions imposed by the Comptroller of the Currency, and their capital stock being unimpaired, have to-day been permitted to re-open their doors for business.-to-wit: The Union National Bank of Denver, Col., The Peoples National Bank of Denver. Col.

21. August 23, 1893 The Roanoke Times Roanoke, VA
Article from The Roanoke Times, August 23, 1893

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Denver Banks Resume. DENVER, Aug. 22. - The Union and Peoples' national banks, which suspended on July 18 and 19, respectively, opened their doors for business at the regular hour yesterday, they having complied with all the requirements of the controller of the currency. The result has been a very material relieving of the financial stringency

22. August 23, 1893 The Weekly Register Point Pleasant, WV
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Banks Resuming. DENVER, Aug. 22.-The People's National and the Union National banks, two more of the suspended banks, have opened their doors for business, having received instructions from Comptroller Eckels to this effect. These, with the National Bank of Commerce, which resumed last week, leaves but three other national banks still closed and these expect to receive orders to resume some time this week.

23. August 26, 1893 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, August 26, 1893

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To Buy Bank Assets. DENVER, Aug. 26.-The directors of the People's National bank, who are also the directors of the suspended People's Savings bank, have proposed to the depositors in the institution to assume all its liabilities and purchase its assets. The deposits are $1,000,000. A committee will confer and the consent of Comptroller Eckels is all that is necessary to bind the bargain.