State Bank - Aspen, CO

Bank Information

Episode Type: Run Only
Bank Type: state
Start Date: August 13, 1902
Location: Aspen, Colorado (39.191, -106.818)

Metadata

Model: gpt-5-mini
Short Digest: 18c45543

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Article (Dateline Denver, Aug 13; published Aug 16, 1902) reports a depositor run on the State Bank of Aspen triggered by publicity of the L. W. Dingle defalcation. Bank telegraphed for funds and received $50,000 plus additional cash, calming depositors; no suspension or closure mentioned.

Events (1)

1. August 13, 1902 Run

Cause: Bank Specific Adverse Info
Cause Details: Publicity of the L. W. Dingle defalcation (embezzlement/shortcomings associated with an individual tied to the bank).
Measures: Telegraphed for funds; arrival of a strong-box from Denver with $50,000 under armed guard and additional cash by express; these measures allayed fears and the run subsided by noon.
Newspaper Excerpt: When the State Bank of Aspen opened for business this morning there was a crowd of small depositors on hand to withdraw their accounts. The run on the bank was the result of the publicity given the L. W. Dingle defalcation.
Source: newspapers

Newspaper Articles (1)

1. August 16, 1902 The Meeker Herald Meeker, CO

Article from The Meeker Herald, August 16, 1902

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Article Text

Ready With the Cash. Denver, Aug. 13.-An Aspen special to the Republican last night says: When the State Bank of Aspen opened for business this morning there was a crowd of small depositors on hand to withdraw their accounts. The run on the bank was the result of the publicity given the L. W. Dingle defalcation. The arrival of a strong-box from Denver, containing $50,000. under an armed guard, and shortly after another consignment of money by express, had the effect of allaying the fears of the depositors and by noon the run had subsided. The bank had anticipated the trouble and had telegraphed for the funds.