Broadway National Bank (Denver, CO)

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DENVER BANKS CLOSES DOORS

(By United Press) DENVER, Colo., Dec. 17-Two Denver banks, the Drovers National bank and the Broadway National bank. closed their doors at noon today and are in the persons were crowding about the tellers cage and in the street shortly before closing time. Payments had not been stopped at 2:30 p. m.

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McFerson announced that his department's examiners had taken charge of the Metropolitan and Capitol Hill banks. Both are small institutions. Steady withdrawals from the Metropolitan during the week, and a run on the Capitol Hill yesterday. were factors in the>closing, officials said. The banks closed yesterday were the Broadway National, the Drover's National, and the North Denver bank, the latter a state institution. These three banks had deposits of approximately $3,500,000. The Broadway National was the largest, with deposits totaling about $2,500,000. - Impairment of capital and frozen paper in livestock loans were ascribed as the reasons for the closing of the two national banks.

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THREE DENVER BANKS CLOSED BY EXAMINERS

Denver Dec. 18 (U Christmas shopping at its height three Denver banks were today in the hands of bank examiners The Drovers National bank and the Broadway National bank were closed at noon yesterday when it was found they could not meet their The North Denver State bank was closed last night at the request of the officers of the institution after a heavy run during the afternoon.

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THREE DENVER BANKS COMPELLED TO CLOSE

With Christmas shopping at its height three Denver banks were today in the hands of bank examiners.

The Drovers' National bank and the Broadway National bank were closed at noon yesterday when it was found they could not meet their liabilities. The North Denver State bank was closed last night at the request of the officers of the institution after a heavy run during the afternoon.

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FIVE DENVER BANKS CLOSE THEIR DOORS

Last of Group Is Locked Today By State Examiner.

LOANS INVOLVED

Cattle Men Responsible For Drain Which Caused

Bad Situation.

DENVER, Dec ed reports late hour stated tetal nine banks had closed their doors here

DENVER, Dec. 18 Four banks have closed their doors in Denver within days. The Metropolitan State bank today failed to open the Drovers National; Broadway National and the North Denver State bank were all placed in the hands of federal and state examiners. James E. Adams, president of the Metropolitan bank. said today bank had been turned over to state examiners at request The Metropolitan several weeks ago according to Adams, had deposits of $400.00 and time they have been reduced to about "In view the bad banking situation here and to protect the interests of our depositors, he said, advisable to turn the bank over state heavy run developed this morning when the Central Savings Bank and Trust company opened its doors was estimated that 500 persons were waiting in the street in front of the bank. Police were in charge of the crowd and only few were let into the bank time. Rumors all over town and situation was developing with withdrawals many banks. The Capitol Hill state bank was put the hands of state examiners opening this morning when crowd was found waiting to their accounts. This makes five banks with closed doors. The Capitol Hill State bank small suburban bank.

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Frozen Loans Force Closing of Three Banks in Denver

(By United Press) DENVER. Colo., Dec. Christmas shopping at its height, three Denver banks were today hands of bank examiners. The Drovers National Bank and the Broadway National Bank closed noon yesterday when found they could not meet their liabilities. The North DenState Bank closed last night the request of the offiof the institution after heavy during the afternoon. Although statement has been issued by Gordon Hollis, president of the closed banks, replied questions that frozen paper cattle loans cause his two banks closing.

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DENVER ON

Critical Situation Evident As Depositors Take Out Funds: Police Called to Control Lines Waiting to Get Money; State Examiners Take Charge of Each

DENVER, Colo., Dec. banks have closed their doors In Denver within two days. The Metropolitan State bank today failed to open its doors. Yesterday the Drovers National, Broadway National and the North Denver State bank all placed in the hands of federal and state examiners. The Capitol Hill State bank was put in the hands of the state when crowd started

James Adams, president of the Metropolitan bank, today that the bank had been turned request. The Metropolitan weeks ago, according Adams, had deposits $400,000 since that time they been to about view of the bad banking situation and to protect the interdeemed advisable the bank over to state officials." heavy run ing when the Central and Trust company opened its doors. estimated that 500 persons waiting in the street front of the bank. Police charge of the few were let into the bank afloat all over town and situation developing with withdrawals increasing banks. The Capitol Hill State bank put in state this crowd found waiting withdraw their accounts. This five banks with closed The Capitol Hill State bank small suburban bank.

Iowa, Dec. Peoples Savings bank here failed its doors The closing the bank of Newhall. Iowa, few days ago, lieved have caused heavy drawals from local Deposits totalled $360,000. Officers of the bank declared day they confident would able to pay their depositors and reorganize the bank. The total amount of deposits tied in the five banks which closed The excitement prevailed here today that has been for years. the height the Christmas shopping season felt sharply the Many could not get their and refused spend. front Central Savings and Trust where 500 there was much citement and called insure and bank books milled about and peered each other's door where only admitted time. believed all the small banks will before the day closes advantage of the sixty day According the officials of all but the national banks closed yesterday, there for alarm banks placed hands examiners to protect depositors. afloat thrusible check of them.

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FIVE DENVER BANKS CLOSE

(Continued From Page One)

Christmas shopping at its height. three Denver banks were today in the hands of bank examiners. The Drovers National bank and the Broadway National bank were closed at noon yesterday when it was found they could not meet their liabilities. The North Denver State bank was closed last night at the request of the officers of the institution after heavy run during the afternoon. Although no statement has been issued by Gordon Hollis, president of two of the closed banks, he replied affirmatively to questions that frozen paper on cattle loans was a cause of his two banks closing.

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Sig Smith gets paid for this. Otherwise there would be no use in doing it. He's performing from the top of the Western Union building in New York City.

FOURTH DENVER BANK IS CLOSED

Denver, Colo., Dec. 18.—Four banks have closed their doors in Denver within two days.

The Metropolitan State bank today failed to open its doors. Yesterday the Drovers' National, Broadway National and the North Denver State bank all were placed in the hands of federal and state examiners.

James E. Adams, president of the Metropolitan bank, said today that the bank had been turned over to state examiners at his request. The Metropolitan several weeks ago, according to Adams, had deposits of $400,000, and since that time they have been reduced to about $100,000.

"In view of the bad banking situation here and to protect the interests of our depositors," he said, "we deemed it advisable to turn the bank over to state officials."

A heavy run developed this morning when the Central Savings Bank & Trust company opened its doors. It was estimated that 500 persons were waiting in the street in front of the bank.

Police were in charge of the crowd and only a few were let into the bank at a time.

Rumors were afloat all over town and a serious situation was developing, with withdrawals increasing at many banks.

The Capitol Hill State bank was put in the hands of state examiners shortly after opening this morning when a crowd was found waiting to withdraw their accounts. This makes five banks with closed doors. The Capitol Hill State bank is a small suburban bank.

Probing Crashes In S. F. Building

San Francisco, Dec. 18.—Recommendation that the city building department add more inspectors was on file today from the coroner's jury which investigated a crash here this week in which four men were killed and eight injured.

The jury absolved from blame contractors putting up a new building beside the one that collapsed.

In another crash three months ago one man was killed and one injured.

Hunt Two Bodies In Monterey Bay

Monterey, Cal., Dec. 18.—Further search for the bodies of two men missing since early Monday when they and their boat disappeared on the bay here, was carried on today, following discovery of wreckage from the launch.

Nicholas Romanoff, importer and exporter, and Peter Remneff, the missing men were engaged in crab fishing when they dropped from sight. It is believed heavy surf at the mouth of the Salinas river swamped their launch.

SO THIS IS VENICE

VENICE—Radio amateurs in Venice who own private gondolas have fitted them with radio-receiving sets and small loud speakers. The new impression of this picturesque city will be gondolas floating about the canals on a moonlight night with the musical varieties of broadcast selections.

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Three Denver Banks in Examiners' Hands

DENVER Colo., Dec. 18.-(UP) With Christmas shopping at its height, three Denver banks were today in the hands of bank examiners The Drovers National bank and the Broadway National bank were closed at noon yesterday when it was found they could not meet their liabilities. The North Denver State bank was closed last night at the request of the officers of the institution after a heavy run during the af-

Although no statement had been issued by Gordon Hollis, president of the two closed national banks, he replied to, questions that frozen loans on cattle were a cause of their closing.

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Five Denver Banks Closed In Two Days; Situation is Serious

DENVER. Dec. Five banks have closed their doors in Denver within two days. The Metropolitan State Bank today failed to open its doors. Yesterday the Drovers National, Broadway National and the North State Bank all were placed in the hands of federal state James Adams. president the Metropolitan Bank. said tothat the bank had been turned over to state examiners his request. The Metropolitan several according Adams, deposits $400,000 and since that time they have been reduced about $100,000 view the bad banking situation and protect interests our depositors, he said. deemed advisable turn the bank over to state ficials The Drovers National Bank and the Broadway National closed noon yesterday when found could their liabilities. North DenState Bank closed last night the request institution after heavy during afternoon Although statement has issued Hollis. president of closed banks. replied affirmatively questions that frozen paper on cattle loans cause of his two banks closing heavy developed this morning when the Central Sav. ings Bank and Trust Company opened its doors. estimated that were waiting the street in front the bank. Police were in charge of the crowd only few were let the time. Rumors were afloat all over town and serious situation developing with withdrawals many banks. The Capitol State Bank put hands state examiners shortly after opening this morning when crowd found waiting withdraw their accounts This makes banks with closed doors The Capitol Hill State Bank small suburban bank

IOWA BANK CLOSED DOORS TODAY Iowa. Dec. Peoples Savings Bank here failed open its doors today. The closing the bank of Iowa. days ago. believed have caused heavy withdrawals from local bank. Deposits totalled $360,000 Officers of the bank declared today were confident they would able pay their positors in full and reorganize the bank.

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FOUR BANKS ARE CLOSED IN DENVER

DENVER, Colo., Dec. 18.—Four banks have closed their doors in Denver within two days.

The Metropolitan State bank today failed to open its doors. Yesterday the Drovers National, Broadway National and the North Denver State bank all were placed in the hands of federal and state examiners.

James R. Adams, president of the Metropolitan bank, said today that the bank had been turned over to state examiners at his request. The Metropolitan several weeks ago, according to Adams, had deposits of $400,000 and since that time they have been reduced to about $100,000.

"In view of the bad banking situation here and to protect the interests of our depositors," he said, "we deemed it advisable to turn the bank over to the examiners.

A heavy run developed this morning when the Central Savings Bank and Trust company opened its doors. It was estimated that 500 persons were in waiting in the street in front of the bank.

Police were in charge of the

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TWO DENVER BANKS CLOSE

Federal Examiners Take Charge Without Making Statement

[By United Press Leased Wire] DENVER, Colo., Dec. 18.—Two Denver banks, the Drovers National bank and the Broadway National bank, closed their doors at noon yesterday and are in the hands of federal examiners.

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Two Additional Banks Close Doors in Denver

Denver, Dec. 19. (By Associated Press.) small state failing to their dors yesterday, left Den pen ver with five closed banks. The banks, with total deposits of ap proximately $4,250,000. are the Broadway National bank, the Drovers' tional bank and the North Denver bank, which closed yesterday, and the Capitol Hill State bank and the Metropolitan State bank, which did not open today.

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FIVE BANKS CLOSE IN DENVER WITHIN TWENTY-FOUR HOURS DENVER, Colo., Dec: 18.-The Metropolitan State Bank and the Capitol Hill State Bank closed their doors here today, bringing the number of banks to close up within 24 hours to five. The North Denver State Bank closed after examiners had taken charge of the Broadway National & Drovers' National Banks. Total deposits of $4,000,000 are involved. "Frozen" assets are given as the reasons for the closing of the banks. Depositors fearing loss of their savings have started runs on the other banks in the city.

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TECHNICAL TESTIMONY TAKES UP DAY IN TRIAL OF COLORADO BANKER COLORADO SPRINGS, Oct. 14.-((A)) -Involved in technical testimony relative to the finances of the Capitol Hill State bank in Denver and the Standard Securities and Investment company was given today in the emfbezzlement action against Walter V. Escher in district court before Judge Arthur Cornforth. Allen Redeker, certified public accountaint, who took the witness stand Wednesday, was questioned until late today. He did the auditing work for the Standard Securities and Investment company from which it is alleged Escher misappropriated funds. Foster Cline, district attorney for the second judicial district, Denver, and S. Harrison White, attorney for the defense, engaged in a legal tilt throughout the day over the introduction of evidence. Redeker was cross examined today by Cline. The exact purpose of Redeker's testimony probably will not be revealed until the attorneys begin their arguments. The case is expected to last until early next week. Shortly before the court was adjourned, George Stahl, receiver for the Broadway National bank of Denver, was called to the stand by the defense. He testified regarding stock of the Capitol Hill bank which Escher had placed in the Broadway bank as collateral for a loan of $8,000. The loan and each share of stock was read in the records, after which attorneys engaged in a dispute regarding the loan. Cline contended the loan was not renewed in that other transactions had occurred between the time it was taken out and the time it was due, and the renewal was on accumulated loans.