1159. Union National Bank (Denver, CO)

View Charter #4382 on SPMC

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
4382
Charter Number
4382
Start Date
July 18, 1893
Location
Denver, Colorado (39.739, -104.985)

Metadata

Model
gpt-5-mini
Short Digest
a7edafcd78696bc7

Response Measures

Accommodated withdrawals, Borrowed from banks or large institutions, Public signal of financial health, Capital injected, Full suspension, Books examined

Receivership Details

Depositor recovery rate
100.0%
Date receivership started
1895-08-02
Date receivership terminated
1902-09-30
OCC cause of failure
Losses
Share of assets assessed as good
34.5%
Share of assets assessed as doubtful
53.8%
Share of assets assessed as worthless
11.7%

Description

Contemporaneous articles (July 18–19, 1893) describe a run on the Union National Bank leading it to close/suspend on July 18; later notices from Aug 21–22, 1893 report the Union National reopened after complying with Comptroller requirements. OCR errors in source texts were corrected (e.g., dates and phrasing). Cause classified as macro_news because the failure was part of the wider July 1893 banking panic in Denver and heavy withdrawals by nervous depositors rather than a single piece of misinformation or a discrete internal scandal.

Events (5)
1. July 30, 1890 Chartered
Source
historical_nic
2. July 18, 1893 Run
Cause
Macro News
Cause Details
Heavy withdrawals precipitated by the wider Denver financial panic of mid-July 1893; nervous depositors and runs on multiple Denver banks.
Measures
Realizing on securities and paying out deposits where possible; posted notices explaining closure and intent to realize securities to pay depositors.
Newspaper Excerpt
The Union National closed its doors this morning. ... the bank had paid out $1,000,000 to the depositors in the last few weeks.
Source
newspapers
3. July 18, 1893 Suspension
Cause
Macro News
Cause Details
Suspension/closure of operations by the bank's board in response to heavy withdrawals/run associated with the citywide panic; banks lacked ready cash despite securities/assets.
Newspaper Excerpt
This bank is closed by order of the board of directors posted at every entrance to the National Bank of Commerce; Union National closed its doors this morning.
Source
newspapers
4. August 21, 1893 Reopening
Newspaper Excerpt
The Union National Bank of Denver, Col. ... have to-day been permitted to re-open their doors for business. (Aug. 21, 1893 notices).
Source
newspapers
5. August 2, 1895 Receivership
Source
historical_nic

Newspaper Articles (22)
1. July 18, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, July 18, 1893

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

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

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

3. July 19, 1893 The Morning Call San Francisco, CA
Article from The Morning Call, July 19, 1893

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AT PANIC DENVER. Four Banks Compelled to Suspend. ALL THE OTHERS SUFFERED. Flurried and Weak Disqui- at New Stocks York on Account of eting Rumors. special to THE MORNING CALL ever was scene here witness hour when DENVER July 18.-No that this the morning, banks of failure shortly after for the business. yesterday The had excite streets three opened savings banks at the hour remaining of opening banks the wded were cro banks, the masses. in front and with anxious of the depositors. locate Clearing-house each other, were S until Eleven four blocks into of the street called crowds to within rounded, and far the police were gathered elear the way for the traffic. Union National, notice with that At 10 o'clock $1,000,000. posted a doors. The notice capital of open their had paid to depositors on they would explained not that the in bank the last few securities rapidlyas possible. and the panic weeks $1,000,000 and had realized but enough. few minThis started it utes became from when later, apparent on of the the the size crowd gathering inbe to run was that about sidewalk the closed National Commercial "Closed notice of augurated doors and posted order this of stock the board of $250,$2000 its for liquidation has by capital cash on hand. National Almost Commerce of the order 000. directors." There simultaneously is only suspended the payment. board is entrance Bank "This bank of is closed the notice by Commerce. posted at every The inside officers refused is this of directors, the Bank of admission to out- not bank condition yesstatement as other terday, known. siders. as The it was did done not by almost all of the noon were these the banks only it were suffering to suspend banks. Up failures, to the hour and was though hoped all that that no more hour, Bank. private with a institution by called it however, would be forced the Mercandie capital of $106.000 that of failed the cleared. after The failure National, was through demand which unabated upon the when 'clock. Union The excitement money and continued it subsided State Utah until banks about banks 2 except the National, instead where of depositors two National all the and seemed the German to increase asbanks more Bank aiminishing. Late this afternoon North Denver of Savings Stephens Savings & signed- the bank Capital 11a. Bank. the private as the assets or are filed. and Hanchett, No knowment statement of The the deposits bilities has to beer have been heavy. of the Clearingwill not President thought J. A. confident to-day people will house worst "I of am this and the meeting decided of the we could see come the to their senses. last night we and o some of them have gone have security ample Clearing-house not help the to the banks wal' All of to protect them, at unfortung is what this time of the majority all I believe. the depositors. cash people But not security are clamoring in unexcep of cent the for. First National having appears over private 60 per of fund $1,500,000 The condition. on hand. with a to draw it possible tionable deposits in addition close their and sevNational upon, making Colorado City National doors. The are equally of good. the as anysaid they hopes Hanna tide eral John others P. were Hanna in good be condition able over control the deposits depositors enough body Several of the of the this morning, notes. Some bank. made large deposits bank in the had shape payment reto check, who owe cash the deposited, Liabilities officials subject but have their checks Of this the cash nearly control two-third hand, $333,338, fused on $589,808. thirds so that will the meet amounting of small depositors. of consist and United Loans to ation, States bonds and cash on the The demand Union discounts Bank's $1,622,689 $147,566 $150,000; due exchange deposits. $32,078; overdrafts, State Bank, other banks, national $170,000 $29,809; the bank outstanding woodbury President will reopen. on by the banks scared drain Constant It about crisis. brought depositors no by less than stated bankers the from was banks drawn $8,000,000 Of a this the last three during is up city. least $5,000,000 were side While the feel the business bankommunity of the and hour shortly distress, the for Drybusiness McNamara the one largest houses open an in the attachment unThe liabilities The known. failure for the by Bank Goods West, was are closed $250,000; vas caused assets by attachUnion ments National The $20,847. $71,780: Colorado National, of had the ivate latter president an of and officer claim Sheedys. for in the $40,000. Denver $25.00 of Nabig Me the the failure Following other house mermara dry-goods were They failures cantile announced. the Mouat John Lumber Company. the on German National for restau Albert Nelson. Bank $155,200 of and with rant saloon, $111,510. M. Noah, $96,725; liabilities of with assets house. $40,000 furniture with firms other Three $16,000. liabilities also of failed. liabilities ON THE ECKELS SITUATION. a at the Comptroller New of York Banquet.

4. July 19, 1893 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, July 19, 1893

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PANIC AT DENVER Three More National Banks There Ferrer to Make Assign. ments. Depositors the Remaining Banks wildly Clamoring For Their Honey. Suspension of a Big Dry Goods House Adds to the Intense Excite ment. DENVER. July 19.-Never in the history of commercial and mercantile a life in the Rocky mountains has such state of financial affairs existed as now prevails in Denver and throughout banks Colorado. It was hoped that the that had weathered Monday's financial storm would be in such a position as to with all the demands made upon them cope by depositors. This hope was in dissipated by the announcement the quick succession of the failure of National Bank of Commerce, the Union National bank and the Commercial National bank. In the attending ex- to citement it is almost impossible ascertain the assets and liabilities of each bank, and this information may not be given out until later in the day. Depositors Panic-Stricken. The depositors in the different banks have become almost completely panicstricken and long lines of people are in pushing and crowding each other order to get to the paying teller's win- that dows of the dozen remaining banks they may secure their money on deposit. of to the excitement the Dry of $260,000 was of assets is not liabilities the The To add McNamara amount Goods company, stated announced. failure equal buti with is believed they will more than The failure was by the filing of an in favor of the This was for the cipitated tional $71,780 liabilities. bank. attachment attachment Union shortly pre- Na- beserved at 1 o'clock a. m. and fore business hours another attachment for $20,846.74 in favor of the Colorado National bank was served upon the company and the doors were closed. The dry goods company had a large amount of money outstanding on credit and on account of the stringency & the money market was unable to collect from country customers and thereby make their credit good at different banks. Claim to Be Sound. The First National bank appears to be on the best footing of all the banks. It claims to have on hand over 60 per cent of its deposits and to have a private fund of $1,500,000 in addition to draw upon, making it impossible for any demand to go unattended. The Colorado National bank and several others claim to be equally well fortified any run. Over per of who are the against people clamoring 90 cent for their money are small depositors. The large holders express confidence in the of the banks to successfully ride the As every bank is ability storm. rendering crowded no the clearing house is assistance and each bank is compelled to stand on its own resources. Believe the Worst Over. In an interview at noon President John A Thatcher, of the clearing h said: "I am association, confident people will the worst of this is over and to their senses. At the of the clearing house we ing soon come decided meetthat we could not help the banks and some of them have gone to the wall. All of them. I believe, have ample to protect all but at this time not security unfortunately depositors, cash and security is what the majority of the people are clamoring for." Up to 12 o'clock everything was comquite at the NaIt stated that the parativaly tional bank. Colorado bank in received nearly half a million dollars gold just before the opening hour. At the National Bauk of Commerce every entrance has the following placard: "This bank is closed by order of the board of directors." The doors are locked and no one is to enter. At 1:30 no had been the allowed failures announced, additional but feeling was still of a panicky nature. Still Another. DENVER. July -Late In the after

5. July 19, 1893 Grand Rapids Herald Grand Rapids, MI
Article from Grand Rapids Herald, July 19, 1893

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al in have our and ining liabilities We about have $500.000 as rapidly have been to us alized and BOOKS last of amount to our social loan of the positors paid then sould, the take care and the roopea COIDP be may enable agrin. assents. If then we every phall can by no means kraller is the that he leposit posted than for and fully dollar of his the notice at each emport door were Jose No a was to rather their components changing. individuals the warmed upon crowde of reading enowda began hours though stantly the President stops of invariety nemed this putting Nobody univer frightened the Worldary and upon rightened it and deposits the were did bank The at its door# not open the This run. avoid revitable inevitamente in has one was perfock/commercial safe all, to bank posited This of of di ation the by order board liquidation rectora whatever. no escitement to read the sign and full There who was stopper about the proepects ultimate not chatted Thom quietly dent of an there Bank of Commerce window time tlement At the in Nationaline at aming the minute of at the 10 great was teller long within unlocked coin was hand the paying the doors rack were of and void for as thirty funt that at o'clock the tellers passed out the depos By itors he were of presiding and the fore. ed. as checks the number to nearly time 100 by the was still on hand. at time had increase decided to take actual cash a notice ng each hung ticers save what at 10:30 doors read By bank lock and Therefore the in closed of order with inside of board This quietly of directors tement filed out and in any many though Thoma trace the of corder paused was clear to read the in recently Mercantile capital and bank stock echange of $100, its doors clowni F. as wish The with in the mining this morning. more Hobinson is assignees the the city present auditor. and the actors as being most imong Denver's Bird, of the are bank substantial busiof was suspension closing payment of the the The about bank by the clearances through which it is dewattors Seought Inion National had made the bank's llar due bank had been and had confidently tereantile stated receive that every in d operation compara few its sently lively caused nent soly a them. few This depositors. monthsan very conseque little excite was there National Colorado was business of new so and the officiale At the but the the number of that inannounced accounts to look happy officials had paid out about run was the stitution City national that they hour nearly First national after The the $30,000. run At stopped the same at the a did not that run. was however, said The anything. officials the run that invited than than otherwise. out It to had rather but not more paid of all those at doors c'elock had been $20,000 the was State were national estimated the that run at was standing At in and line it was paid out. The To'clock a At the German was & out far reaching was 100,000 broken National on there the side need man business was still line About long walk line but not a 2:15 the tiring crowd and been drop paid in the line but many were $70,000 had The run on was still clos hour the on was out. ping in mostly out in at email m., amounts. the regular Denver reported a The National mistakes. Pa composed and A run but it proved posed of the others Union from checks the Grant no run. met bank crowd eitle railway was smelter employewith time all deif said the witors ip two There The City was National ex President Bard the bank run negt on be nanda and wanted to the premeeting demands the ly bank. in which open there by Denver Savings was a noon. run No out paid M Dry Namara at Six and money of the business is in the California The doing streets. ag served teenth the $50,000 were this morning National Union this an early hour bank, which iteelf morning. by precipitated nest the attach ecuring at at fter 12:47 ment midjust o'clock The other ments night. followed No and tiles grates, Pit 1600 Robert Court 814. Assets, Luther place, Wyant. Bit. The Conte fectionery 890. kin Evans Littlefield George A. Smith by The Engle at 2201 No to street, assigned are place follows: Harris Larimor The awseta Stock on hand, ac. book $000, placed are There The fixtures liabilities only two are Denver of the proprietors Lari Hyman Copen. at to Manual 1,627 Hyman and Dripps. mantele

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

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

7. July 19, 1893 Waterbury Evening Democrat Waterbury, CT
Article from Waterbury Evening Democrat, July 19, 1893

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A FINANCIAL FLUTTER Denver Still Somewhat Uneasy After the Panic. THREE BANKS EXPECT TO RESUME. They lar All For Promise to Pay Depositors to Collect Dollar. but It will Dol. Went Down. sas Banks the Dollars A String Take of Time Kan. tion DENVER. here this July 19 The financial have easy and feverish. morning was decidedly situa unbeen three expected after Nothing else the Union the National, when national Commercial yesterday panic, could National National owing to the -closed small The heavy excited depositors their doors in the private Bank institution of Commerce Mercantile demands of bank. and suspended. Mining Exchange doing business bank, owing to the close building. also made through which its of the Union before had savings banks on the day The suspension of three clearances were of that at the hour for the all had gathered opening the banks nearly munity crowds the so alarmed com the the tional, run German was the heavy. and financial City although National institutions the in banks First front At felt Na. the The It the situation. streets was unusual People's were full of people to or some two discussing extent others and run talk. there was The an much orderly crowd. however and their soon exhausted itself on and the affairs People's conservative bank excite other normal the run banks WAS condition. over by At 1 the resumed City National ment except the o'clock, and the noon. the teller crowd kept in Ger- in man front National was of all over the by window noon German, all At the the the line at lowing of the Union on the front and doors There notice was posted National after side is in bank the hands National president: The Union signed by R. w bank Woodbury, the fol. of the in $1.000,000.00 two past sets meet which liabilities our local the the of week If paid again. sents fully may no by can Doors. Bank No the than posted to at and door each began crowds for indihours though the were viduals changing the crowds the statement of variety putting a varies it. Nobody frightened and the the that deposits The did bank immercial its open doors the he inevitable d This bank has of of the board Those There was to who stopped ly the about of an in fident of the along the ing teller gold doors the he he passed out were presented of time Bythat had positors the the officers decided and cash forelock on in hand still of at the each bank "This inside board Those of directors. is of few trace the was in to many paused ny The Mercant 88 ated. with in the en located its doors closed er city Assignee n the the itor, bank president r of the directors er being among men is business pension The suspens at the by Union about the bank through nt made clearance he that the bank due dollar had ery This bank to in only operation ms comparatively at little ld The First arat a little National on on sold. lis the Think its. York fatt at the for closing It bullion It was after hour money he had bank due President H. D. Moffatt be National greatly exceeded old always withdrawal house during stated the that day the deposits of the First res and most is most in owned don exclusivesyovatively the general opinion and men business age that and and mild may way en af close continulthough against no more the panic obliged banker day or two. and is It of hay and fidence in the in the that the as hat a withdrawn will better result believed feeling will strong by financiers that banks more to of resum circles_ The which will be "Posited in he business The in short easier financial constant rbtus that ne scared the crisis depositors is what the banks been the three during the less banks than $0,000,000 L by bankers brought about Of has this be $3,000,000 regular the alt. that and the res posit suppose 000,000 contain vaults hoarded lines are of the in full, homes city, there of but The to there is &5. is the safety de months amount ve- WAS are hidden. let into If circulation places one-fifth in which of that workingment their savings

8. July 19, 1893 Evening Journal Wilmington, DE
Article from Evening Journal, July 19, 1893

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EARLY NEWS SUMMARY. Held Responsible for Deaths in the Cold Storage Fire. THE JURY RENDERS A DECISION. Director of Works Burnham, Fire Marshal Murphy. President Skinner and Secretary McDonald, of the Hercules Iron Company. That Built the Building, Found{Guilty. The coroner's jury investigating the Cold Storage fire disaster held Director of Works Burnham, Fire Marshal Murphy, President Skinner, of the Hercules Iron Company, that built the building, and Secretary McDonald, of the same com pany, responsible for the deaths. 4 Denver Bank Failures, The Union National, National Bank of Commerce, Commercial National and Mercantile banks, of Denver, failed and the McNanara dry good house and several other business houses went under owing to the financial panic there. Crusade Against Colored People. Founder Bradley, of Asbury Park, has begun a crusade against the col ored people who monopolize the seats on the beach and pavilions. A Celebrated Case Decided. Judge Acheson in the United States Circuit Court at Erie decided the cele brated case of the Stonemetz Printing Machinery Company vs. the Brown Fold ing Machinery Company in favor of the former. Paid $600,000 in Gold. The New York Sub-Treasury was debtor at the Clearing House to the extent of $669,000, and Treasurer Jorden ordered that the difference should again be paid mostly in gold. Of the total amount $600,000 was paid over in gold and the balance in currency notes. Oldest Bank in Kansas Falls. The First National Bank of Fort Scott, Kan., the oldest financial institution in Southeastern Kansas, suspended payment and the Citizens' Bank at Kan. sas City, the bank of Richmond and the Farmers' and Merchants' Bank at Ossa wattomie have also failed. Prominent Club Man a Forger. : Lloyd Aspinwall, the New York club man, is confined in Yorkville prison, N Y., in default of $5.000 bail, upon the charge of forgery. It is charged that he forged the name of William Aspinwall in indorsing a check. 1 A World's Fair Tradgedy. Miss Emma Garrett, of Philadelphis, who has charge of the Pennsylvania ex t hibit of the work of pupils in institu tions for the blind at the Fair, became 0 insane from overwork and killed herself f by jumping from the fifth story of a hotel. a Meyer, the Poisoner, Arraigned. Dr. Henry C. W. Meyer, the alleged wholesale poisoner, was arraigned be fore Judge Cowing in New York to plead to the indictment charging him with murder. At the request of Lawyer v Joseph Moss. the prisoner's counsel, the judge allowed the case to go over until Thursday.

9. July 19, 1893 Pawtucket Tribune Pawtucket, RI
Article from Pawtucket Tribune, July 19, 1893

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Financial Panic at Denver. DENVER, July 19.-The Union National bank failed to open its doors yesterday. The capital is $1,000,000. A run is now being made on the City National, German National, First National and Colonial and even the clearing house banks. There is a panic in financial circles. The National Bank of Commerce and the Commercial National bank have closed their doors.

10. July 19, 1893 St. Paul Daily Globe Saint Paul, MN
Article from St. Paul Daily Globe, July 19, 1893

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Trouble - Yesterday's Calamities. DENVER, Col., July 18.-The Union National bank, of which R. W. Woodbury is president, failed to open its doors this morning. The capital is $1,000,000. No statement can be had. A run is now being made on City National, German National, First National, Colorado National and all the eleven clearing house banks. The McNamara dry goods house, one of the largest institutions of the kind, failed this morning. The liabilities are placed at $260,000. The assets at this not known. on an time brought are by attachment The failure served was on the house at 10 o'clock this morning by the Union National bank, which failed to open its doors this morning, for $71,780, and the Colorado National bank for $20,847.74. The president of the latter bank had a private claim of $25,000, and D. Sheedy, an officer in the Denver National bank, one for $40,000. The failure was not unexpected, but it had been hoped that money would be easier and that the firm would be able to pull through. The stringency in the money market and inability to place securities or secure an extension from the banks, aided by the closing of three savings banks yesterday, was the direct cause. Had the banks which closed yesterday been able to secure cash with which to carry it over the "hard spots" the failure would not have occurred. Nearly the entire amount falls on Denver banks and commercial houses. Hyman & Co., proprietors of the Bee Hive store; McWhirter & Dipps, dealers in mantels and tiles, and Engle & Harris, dry goods, have just assigned today. No statements available, but amounts probably not large. The Mercantile bank, with a capital of $100,000, has assigned to W. F. Robinson. The Mercantile bank, a private institution, with a capital stock of $100,000, closed its doors at noon. The failure was caused by the failure of the Union National bank, through which it cleared. C.C. Mird, the city auditor, is the president. W. A. Robinson, formerly treasurer of the Republican Publishing company, one of the oldest and most prominent men in the state, has been named as assignee. DENVER, July 18.-The Commercial National bank has closed its doors. A notice says: "This bank has gone into liquidation by order of the board of directors." DENVER. Col., July 8.-The National Bank of Commerce has closed its doors. Ex-Gov. John F. Cooper is president of this bank. DENVER, July 18.-The excitement and demand upon the banks for money continued unabated till about2 o'clock when it had almost entirely subsided at all the banks except the State National and the German National, where the line of depositors seemed to increase instead of diminish. This bank is understood to have a special train on the way from Kansas City bearing $490,000, and that it will reach here early tomorrow morning. The First National bank received $170.000 at a little after 1 o'clock today. and $250,000 more at the closing hour. This came from New York. It was money due President Moffatt for bullion he had sold. Just before the close the failure of the

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

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

12. July 20, 1893 The Daily Morning Astorian Astoria, OR
Article from The Daily Morning Astorian, July 20, 1893

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CURRENT CURRENCY COMMENT A Regular Monkey and Parrot Time in Denver. SENATOR TELLER'S LATEST TALK A Nephew of Leland Stanford Turns up in Idaho-Married to Suit Himself. Associated Press. Denver, July 19.-The panic in this city was resumed this morning with renewed vigor, and as a result the Old German National bank, with a reputation for stability of twenty years' standing, the equally reputable State National, and extremely strong Peoples' National, failed this morning. All night depositors stood in line in front of the German National, and by 9 o'clock there was a long sea of faces stretching down the street. At the opposite corner, where the State National has so long done business, was also a crowd of anxious depositors, Here people were relieved of doubts, when at 9 o'clock a notice was posted on the doors that the bank would not open, owing to the lack of ready cash At the German National, just before opening time, a notice was posted on the (window stating that the doors would be closed temporarily. This notice caused a distressing scene. Men and women down the long line, broke out in tears and wailing. A run on all the remaining banks in the city was renewed. Reliable people, however, say there will be no more suspensions. Bank Examiner Adams this morning took charge of the Union National, Commercial National, National Bank of Commerce, State National andGerman National banks. A number of minor commercial concerns went under today, The run on the Denver National is over, with plenty of money still in sight. The same is true of the City and all the other unfailed banks. Business men are beginning to breath more freely. Washington, July 19.-The comptroller of Currency has been advised that the Hutchinson National Bank of Hutchinson, Kan., has failed. Topeka, Kan, July 19.-The state bank commissioner has been informed of the failure of the State Bank of Parker, and Woodson's State Bank, of Yates Center. Both were small concerns. Washington, July 19.-The comptroller of currency is informed of the failure of the Bozeman National Bank, of Bozeman, Mont. Brooklyn, July 19.-The large carpet house of Hardenburg & Co. has assigned.

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

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

14. July 22, 1893 The Hood River Glacier Hood River, OR
Article from The Hood River Glacier, July 22, 1893

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Denver has had a panic its banks being besieged by clamorous depositors. Asa result the Union National with a capital of a million dollars went down, quicklv followed by five others. Over 8,000,000 had been withdrawn from these banks in the past eight months, and they were in poor condition to stand a run.

15. July 22, 1893 Mineral Point Tribune Mineral Point, WI
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DENVER IS DONE FOR GENERAL PANIC IN THE COLORADO CITY, SEVERAL BANKS CLOSED THEIR DOORS YESTERDAY. Withdrawals by Scared Depositors the Cause-Union National, With $1,000,000 Capital, Goes Under-MeNamara Dry Goods Company Fails-Nervous People the Authors of Much Ruin.

16. July 28, 1893 Idaho County Free Press Grangeville, ID
Article from Idaho County Free Press, July 28, 1893

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A PANIC IN DENVER. A Run on All the Banks, Over Half of Which Close. Denver, July 18.-The Union National Bank failed this morning. It has a capital of a million dollars. No statement is yet made. A run is being made on the City National, German National, First National, Colorado National and all the eleven clearing house banks. A panic is on. The Commercial National closed its doors at 11 o'clock, and the National bank of Commerce closed its doors at noon. The Mercantile Bank, a private institution, with a capital of $100,000, failed at noon. The failure was caused by that of the Union National, through which it cleared. No scene was ever witnessed here before like that of this morning, shortly after the hour when the banks opened for business. The failure of three savings banks yesterday had excited the masses and at the hour of opening the streets were crowded with anxious depositors. Eleven clearing house banks located within four blocks of each other were surrounded and far into the streets the crowd gathered until the police were called to clear the way for traffic. At ten o'clock the Union National, with a capital of $1,000,000, posted a notice that they would not open their doors. This started the panic, and following quickly, the Commercial National posted a similar notice. Then the National Bank of Commerce followed. A run immediately started on all the other banks, although to no great extent upon the People's National. The First National appears in unexceptional condition, having over sixty per cent of its deposits on hand, with a private fund of a million and a half in addition to draw upon, making it impossible to close their doors. The Colorado National and several others are equally as good. The mob that is withdrawing money are all small depositors, and the banks are paying all demands except on time certificates, demanding that these remain until the expiration of their time. President J. A. Thatcher of the clearing house says, "I am confident today will see the worst of this and people will come to their senses."

17. 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.

18. August 22, 1893 The Times Richmond, VA
Article from The Times, 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.

19. August 22, 1893 The Wilmington Daily Republican Wilmington, DE
Article from The Wilmington Daily Republican, August 22, 1893

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Denver Banks Resume. DENVER, Aug. 23. - 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.

20. August 22, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, August 22, 1893

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BANKS RE-OPEN. I DENVER, Col., Aug. 21.-The Peo. ple's National and Union National banks, two more of the suspended banks, opened their doors for business this morning. |

21. August 22, 1893 Wheeling Register Wheeling, WV
Article from Wheeling Register, August 22, 1893

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Denver Banks Reopening. DENVER, CoL., August 21.-The People's National and the Union National banks, two more of the suspended banks, opened thier doors for business nt 10 o'clock this morning, having received instructions from Comptroller Eckels to this effect. These, with the National Bank of Commerce, which-re;umed last week, leaves but three other National banks closed, and these expect to receive orders to resume some time this week.

22. August 23, 1893 New Ulm Review New Ulm, MN
Article from New Ulm Review, August 23, 1893

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More Denver Banks Resume. DENVER, Aug. 22. -The Union and Peoples National bank which suspended on June 18 and 19 respectively, opened their doors for business at the regular hour, they having complied with all the requirements of the comptroller of the currency.