1228. First National Bank of Canon City (Canon City, CO)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
national
Start Date
July 20, 1893
Location
Canon City, Colorado (38.442, -105.221)

Metadata

Model
gpt-5-mini
Short Digest
0a3d5e9b

Response Measures

None

Description

Contemporaneous reports (Richmond Dispatch 1893-07-21; Daily Kennebec Journal 1893-07-22) state the bank suspended in July 1893 because its funds were tied up in suspended Denver banks. Multiple federal notices and newspapers dated Aug 29–30, 1893 report the First National Bank of Canon City was permitted to reopen on Aug 30. A later brief (Sept 7) states it has failed, which conflicts with the many reports of reopening; I follow the stronger cluster of government notices permitting reopening. No article explicitly describes a depositor run separate from the suspension.

Events (2)

1. July 20, 1893 Suspension
Cause
Correspondent
Cause Details
Suspended because its funds were tied up in suspended Denver banks, preventing payment.
Newspaper Excerpt
The First National Bank of Canon City, Col. suspended yesterday owing to the fact that its funds are in suspended Denver banks.
Source
newspapers
2. August 30, 1893 Reopening
Newspaper Excerpt
The First National Bank of Canon City also reopened. / The First National Bank of Canon City, Col.; ... have today been permitted to reopen their doors for business.
Source
newspapers

Newspaper Articles (10)

Article from Richmond Dispatch, July 21, 1893

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Article Text

Brevities Electric The banking-house of J. B. Wheeler & Co., Colorado City, and Manitou, Col., did not open yesterday. The branch telephone office on Eighteenth street, New York, was burned out last night. $ $120,000. The United States steamer Yorktown, Commander Harrington, left New York for the Pacitic yesterday afternoon. The private banking-house of T. A. Kent. at ( heyenne, Wvo. did not open yesterday, and is in the hands of an asignee. The First National Bank of Canon City, Col. suspended yesterday owing to the fact that its funds are in suspended Denver banks. The "Senate' of the National Union (mutual benefit insurance organization) will meet next year in July at Lookout Mountain, Tennessee. The last eleven clauses of the Irish home-rule bill were taken through the committee stage under closure in the British House of Commons last evening. A reduction of 85 on round-trip rates between Chicago and points south of the Ohio river was agreed upon at meeting of southern-line representatives in Chicago yesterday. A sensation was caused in Frankfort (Ky.) business circlea yesterday by the assignment of Colonel E. 11. Taylor, Jr., the famous distilter, to the Lexingtion Trust Company. A third furnace of the Maryland Stool Company at Sparrows Point, Baltimore, was banked Wednesday night. throwing all of the furnaces which had been in operation out of blast. At a directors' meeting yesterday it was de. cided to shut down the mills of the Westbrook Manufacturing Company. makers of ginghame, Portland, Me., from July 27th until September 4th. A dispatch from Montevideo says that the confliet in Rio Grande do Sul has become a series of small and utterly indecisive encounters between insignificant forces of revolutionista and government troops. In the United States Court at Atlanta yesterday an attorney for the Central Trust Company filed a bill to foreclose a $14,500,000 mortgage on the Georgia Pacific railroad, this being a part of the reorganization scheme. It is said at Leavenworth, Kan., with railroad officers as authority, that 1.000 colored met were put on the cars at Birmingham, Ala., Wednesday night and started for Kaneas to take the places of the Sterling coal-miners. At Grand Junction, Col., the First National Bank failed to open its doors yesterday. Assoon this became known the business-men of the town commenced depositing in the Mesa County Bank in order to make its credit good. A special from Washington, Ga.. says that the Tom Watson meeting passed off without any trouble. About 2,000 people were present 1,500 negroes and 500 white Populists. The Democrats kept away, not over 25 being present. The last will and testament of Anthony J. Drexel was admitted to probate yesterday at Philadelphia. dtidposes of between $25,000.000 and $30,000,000 worth of property, large sums being devoted to charitable and educational purposes. The report that Italy has proposed that 21/6frane pieces be no longer regarded as international coins has been confirmed. Belgium and Greece approve of the proposal. If France and Switzerland refuse to accept it Italy will withf draw from the Latin Union. 4 Governor Jones, of Alabama. has appointed Willis G. Clark, of Mobile, Railrond Commiss sioner of Alabama, to succeed the late General Holtzclaw. He is a business-man. and during Mr. Cleveland's former administration was Collector of the port of Mobile The agent ot the Waumbeck Company. Milton Mills, N. H., has issued orders for closing the mills for three months 33 8007 as the goods now in process of manufacture are finished. the reason assigned for the action being a lack of or1 ders, except at ruinous prices. The Chautanqua Ore and Iron Company, whose mines and iron foundries are located Lyon Mountain, N.Y. closed yesterday. did also the Crown Point iron-cap mines and iron makers. at Crown Point. N.Y., the cause a given being dulness in the iron trade. The Reynoldsville (Pa.) Woolten-Milla-Sykes 2 Allis & Moorehouse, proprietors- burnet yesterday. Loss, 8100,000; insurance. $20,000. The fire originated in the picking-room, on the 1 third floor, and was caused by a nail among the wool getting into the machinery and sending off sparks. There is a complication in the affairs of the d Atlanta (Ga.) Provision and Commission Company, 8 small concern whose principal stockholders are country merchants. Application for a receiver has been made, and the stockholders are anxious to find N. W. Murphy, the general manager. ₫ At Vidalia. Montgomery county. Gs., James : Strickland killed James Lockley yesteria It 4 is said that Lockley had killed Strickland's dog 0 the day before. and that when Strickland n learned this fact he took his shot-gun, went to Lockley's house, and shot him while at supper. Strickland is in jail. 8. 4 The business portion of the town of Ewin, 1 Mich., has been entirely destroyed by fre, and d the people there are holding as prisoner & man supposed to have started the blaze, who is almost certain to be lynched, as the citizens are worked up to a frenzy by the loss of their property. Loss by the fire, about $250,000. Insurance, less than $50,000.


Article from Daily Kennebec Journal, July 22, 1893

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Article Text

Business Complications. Flanders' dry goods house, Denver, has assigned. The Union Stock Yards company, San Francisco, was attached. The Northern Manufacturing company, Ashland, Wis., has assigned. The First National banks of Canon City and Grand Junction, Colo., have failed. The Union bank and the Greeley National bank of Greeley, Colo., have closed.


Article from Santa Fe Daily New Mexican, August 30, 1893

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Article Text

Looks Better. DENVER, August 30.-The German National bank reopened its doors for business at the regular hour yesterday. This is one of the oldest banks in the west and one of the last to suspend during the July panic. The First National Bank of Canon City also reopened.


Article from St. Paul Daily Globe, August 30, 1893

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Article Text

Allowed to Reopen. WASHINGTON, Aug. 29.-The following national banks, which recently sus= pended payment, have today been permitted to reopen their doors for business: The German National Bank of Denver, Col.; the State National Bank of Denver, Col.; the First National Bank of Canon City, Col.; the Louisville City National bank, of Louisville, Ky.; the Merchants' National Bank of Louisville, Ky.; the First National Bank of Ashland, Wis., and the First National Bank of Platteville, Wis.


Article from St. Paul Daily Globe, August 30, 1893

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Article Text

Allowed to Reopen. WASHINGTON, Aug. 29.-The following national banks, which recently suspended payment, have today been permitted to reopen their doors for business: The German National Bank of Denver. Col.; the State National Ban k of Denver, Col.; the First National Bank of Canon City, Col.; the Louisville City National bank, of Louisville, Ky.; the Merchants' National Bank of Louisville, Ky.; the First National Bank of Ashland, Wis., and the First National Bank of Platteville, Wis.


Article from The Evening World, August 30, 1893

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Article Text

Banks Authorized to Resume. WASHINGTON. Aug. 30.-The following National banks, which recently suspended payment. were permitted to reopen their doors for business yesterday: The German National Bank and the State National Bank. of Denver; the First National Bank of Canon City, Col.: the Louisville City National Bank and the Merchants' National Bank. of Louisville, Ky.: the First National Bank, of Ashland. Wis.. and the First National Bank, of Platteville, Wis.


Article from Evening Star, August 30, 1893

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Article Text

More Banks Resume. The following additional national banks, which recently suspended payment, have been permitted to reopen their doors for business, viz: The German National Bank of Denver, Colorado, the State National Bank of Denver, Colorado, the First National Bank of Canon City, Colorado, the Louisville City National Bank of Louisville, Kentucky, the Merchants' National Bank of Louisville, Kentucky, the First National Bank of Ashland, Wisconsin, and the First National Bank of Platteville, Wisconsin.


Article from The Representative, August 30, 1893

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Article Text

More Denver Banks Resume. DENVER, Aug. 30.-The German National bank of this city and the First National bank of Canon City, which closed during the recent panic, have resumed business.


Article from Red Lodge Picket, September 2, 1893

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Article Text

More Denver Banks Resume. DENVER, Ang. 30. - -The German National bank of this city and the First National bank of Canon City, which closed during the recent panic, have resumed business. CHARTER GRANTED.


Article from The Princeton Union, September 7, 1893

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Article Text

IN GENERAL. The First National Bank of Canon City, Colo., has failed. The pay of all the employes of the Big Four road will be cut. Special sessions of the legislatures of Washington and Montana will not be held to elect United States senators. John H. O'Connor has been appointed receiver for the Algiers Brewing company, New Orleans. Machinists on the Louisville & Nashville road decided to strike against a cut in pay. The Chicago & Northwestern road has declared a quarterly dividend of 1 1-4 per cent. Missouri Populists, in convention at Macon, demanded the free coinage of silver and more legal tender paper. Southern members of the Epworth league threaten to secede unless their Northern brethren bar the negroes. Seven and a quarter miles in 13 3-4 minutes is the record made by the steam yacht Feiseen in New York waters. Another Catholic church dispute has been settled. Mgr. Satolli has informed Father Malone of Colorado that he must obey Bishop Motz's authority. Fears are entertained of further trouble in the Kansas mining district. The men are arming and are threatening. Rachel Handysides of Dubuque, Iowa. has commenced a breach of promise suit for $10,000 against Dr. Guthrie, professor of gynaecology in the Iowa state university.