1251. First National Bank (Ouray, CO)

Bank Information

Episode Type
Suspension โ†’ Closure
Bank Type
national
Bank ID
4109
Charter Number
4109
Start Date
January 1, 1895*
Location
Ouray, Colorado (38.023, -107.671)

Metadata

Model
gpt-5-mini
Short Digest
f034f93e9070c632

Response Measures

None

Description

Articles report the 'national bank of Ouray' failing in 1895 and a subsequent closing in June 1907 when a judgment for $18,000 against the bank prevented it from opening the following morning. No contemporaneous run is described; these are failures/closures. I corrected OCR oddities (e.g., 'the national bank of Ouray failed in 1895') and used the provided bank name 'First National Bank' consistent with 'national bank of Ouray' in the articles.

Events (4)

1. September 2, 1889 Chartered
Source
historical_nic
2. January 1, 1895* Suspension
Cause
Bank Specific Adverse Info
Cause Details
Bank failure in 1895 (reported as 'failed in 1895'); cited insolvency/closure of the national bank of Ouray without mention of a run or rumor as the trigger.
Newspaper Excerpt
From the statement of Judge Stevens as given by the Carson News, it appears that the national bank of Ouray failed in 1895
Source
newspapers
3. January 23, 1895 Voluntary Liquidation
Source
historical_nic
4. June 1, 1907* Suspension
Cause
Bank Specific Adverse Info
Cause Details
A court judgment of $18,000 against the bank rendered late in the day left it without funds to open, causing its closure in June 1907; no run or rumor is described as the precipitant.
Newspaper Excerpt
The bank closed as usual at 3 P. m. one day in June 1907. At four o'clock that day judgment was rendered against the bank in the suit of the city for the sum of $18,000 and not having the funds was unable to open its doors the following morning.
Source
newspapers

Newspaper Articles (2)

Article from Daily Independent, December 14, 1908

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Article Text

Judge Stevens Indicted Theron Stevens, the Goldfield attorne who W.S appointed by Governor Dick erson as one of the new judges i Esmeralda county, has been indicted b the Ouray county, Colorado, grand jury He is charged in nine indictments with having been an officer of a bank in th town of Ouray at the time of its failur and having received deposits at th bank, knowing the institution to be in solvent at the time. Judge Stevens received word at Gold field of his indictment on December 4tl and left the next morning for Ouray t face his accusers. While away he wa appointed one of the judges of th Esmerabla county court. On his re turn to Nevada, he went to Carson an placed his resignation in the hands o the governor. & Governor Dickerson carefully consid ered the matter with Judge Stevens an refused to accept the resignation. From the statement of Judge Steven as given by the Carson News, it appear that the national bank of Ouray faile in 1895, having on deposit the funds o the city amounting to $18,000. This ac count was traded to a mining operato with full permission of the city govern ment and the account was cancelled or the books of the bank. Judge Stevens with George R. Hurl burt went to the assistance of the bank purchasing a one-half interest, assum ing and liabilities and taking over al a sets. Judge Stevens claims that h deeded to the bank all his property il an endeavor to place it on a paying basis. The city of Ouray demanded its money of the mining operator and he repudiat ed the debt. Suit was begun agains him and the city lost. Suits were the filed against the bank. The bank was running in good shape slowly paying up old deposits, of which 51 per reent had been settled. Judg Stevens had owed the bank at on time the sum of $1,000 and this he ha paid with full interest. The banl closed as usual at 3 P. m. one day in June 1907. At four o'clock that day judgment was rendered against the bank in the suit of the city for the sun of $18,000 and not having the funds was unable to open its doors the follow ing morning. At the time of this second closing o the bank, Judge Stevens was a resident of Nevada and had been SO for over siz months. When in Colorado as vice president of the bank, he had but little to do with the active management as his responsibilities were only during the absence of the president. In a signed statement published in New Judge Stevens says: "With reference to my appointment as Judge of the 7th Judicial District of Nevada and the troubles that came to me from Colorado I have to say, that for the past ten years, I put ever cent I could save in the bank of Ouray, that failed. I have never had one penny's benefit from it, and when the banl failed I sent the assignee a deed to al the property I had in Colorado to be sold by him for the benefit of the credit ors, I do not owe the bank a dollar, "The indictments returned agains me were the result of misrepresentation and were unfairly obtained. "No one in Ouray county believes me guilty and I can verify this brief state ment. I would not accept the appoint ment until I had laid all the facts before the Governor, and my resignation is subject to the Governor's orders at any time." Judge Stevens claims that his indict ment was the work of political and personal enemies. Six months before the bank failed he left Colorado and came to Nevada. When he left. the bankwas in good condition. or in as


Article from Weekly Independent, December 18, 1908

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Article Text

Judge Stevens Indicted Theron Stevens, the Goldfield attorney who was appointed by Governor Dick- in erson as one of the new judges Esmeralda county, has been indicted by the Ouray county, Colorado, grand jury. He is charged in nine indictments with having been an officer of a bank in the town of Ouray at the time of its failure and having received deposits at the bank, knowing the institution to be insolvent at the time. Judge Stevens received word at Goldfield of his indictment on December 4th and left the next morning for Ouray to face his accusers. While away he was appointed one of the judges of the Esmeralda county court. On his return to Nevada, he went to Carson and placed his resignation in the hands of the governor. Governor Dickerson carefully considered the matter with Judge Stevens and refused to accept the resignation. From the statement of Judge Stevens as given by the Carson News, it appears that the national bank of Ouray failed in 1895, having on deposit the funds of the city amounting to $18,000. This account was traded to a mining operator with full permission of the city government and the account was cancelled on the books of the bank. Judge Stevens with George R. Hurlburt went to the assistance of the bank, purchasing a one-half interest, assum- all ing all liabilities and taking over assets. Judge Stevens claims that he in deeded to the bank all his property an endeavor to place it on a paying basis. The city of Ouray demanded itsmoney of the mining operator and he repudiated the debt. Suit was begun against him and the city lost. Suits were then filed against the bank. The bank was running in good shape, slowly paying up old deposits, of which 51 per cent had been settled. Judge Stevens had owed the bank at one time the sum of $1,000 and this he had paid with full interest. The bank in closed as usual at 3 p. m. one day June 1907. At four o'clock that day the judgment was rendered against bank in the suit of the city for the sum of $18,000 and not having the funds, was unable to open its doors the following morning. At the time of this second closing of the bank, Judge Stevens was a resident of Nevada and had been so for over six months. When in Colorado as vicepresident of the bank, he had but little do with the active management as his to responsibilities were only during the absence of the president. In a signed statement published in News, Judge Stevens says: "With reference to my appointment Judge of the 7th Judicial District of to as Nevada and the troubles that came me from Colorado I have to say, that for the past ten years, I put ever cent that I could save in the bank of Ouray, failed. I have never had one penny's bank benefit from it, and when the all failed I sent the assignee a deed to be the property I had in Colorado credit- to sold by him for the benefit of the ors, I do not owe the bank a dollar, "The indictments returned against were the result of misrepresentations and me were unfairly obtained. "No one in Ouray county believes state. me and I can verify this brief guilty I would not accept the appointment. until I had laid all the facts before is ment the Governor, and my resignation subject to the Governor's orders at any time." Judge Stevens claims that his indict- and was the work of political ment personal enemies. Six months before and bank failed he left Colorado the the to Nevada. When he loft. bank came was in good condition, or in as good a condition as could be expected was its former trouble. The bank after solvent, he claims, on the day it closed that and was solvent until 4 p. m. of when judgment was rendered the against day it for the $18,000 claimed by City Governor of Ouray. Dickerson is in receipt of of from prominent citizens Ouray telegrams testifying to the high character and ability of Judge Stevens.