1251. Delta County Bank (Delta, CO)

Bank Information

Episode Type
Suspension → Reopening
Bank Type
state
Start Date
November 16, 1897
Location
Delta, Colorado (38.742, -108.069)

Metadata

Model
gpt-5-mini
Short Digest
4a52a8b0

Response Measures

None

Description

Multiple contemporaneous newspapers report the directors 'concluded to suspend business and place the institution in the hands of an assignee' (A. R. King) on Nov. 16, 1897. Cause described as poor collections and exposure to the recently failed Bank of Montrose (money tied up there). By July 1898 the local paper reports the bank has been paying liabilities and dividend certificates, suggesting successful resolution and resumption of business activity rather than permanent closure.

Events (3)

1. November 16, 1897 Suspension
Cause
Correspondent
Cause Details
Poor collections and exposure to the recently failed Bank of Montrose, which carried money belonging to the Delta County Bank; assets/ liabilities imbalance noted.
Newspaper Excerpt
After a prolonged session the directors of the Delta County bank concluded to suspend business and place the institution's affairs in the hands of an assignee. A. R. King was named for that position.
Source
newspapers
2. November 17, 1897 Other
Newspaper Excerpt
The cause of the failure of the Delta County bank ... is said to have been poor collections and the fact that J. E. McClure, president of the Bank of Montrose, which failed recently, was at one time vice president of the Delta County bank ... The Delta County bank also had some money tied up in the Montrose County bank. The assets are stated to be $110,000, and the liabilities $70,000.
Source
newspapers
3. July 8, 1898 Reopening
Newspaper Excerpt
Since last November when the bank suspended have paid off over $20,000 of the liabilities then outstanding besides paying the running expenses without having recourse to the new deposits. The bank has been for the past week paying off the dividend certificates due July 10. It now appears that the bank will pay off its entire indebtedness a long time before the expiration of the three years the dividend checks run.
Source
newspapers

Newspaper Articles (14)

Article from Deseret Evening News, November 16, 1897

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Article Text

Coolrado Bank Suspends. Delta, Colo., Nov. 16.-After a prolonged session the direction of the Delta county bank concluded to suspend business and place the Institution's affairs In the hands of an assignee. A. P. King was named for that position. The bank has long been regarded as one of the soundest In this section. An accountant has been put to work on the books, but a statement has not been issued. The capital stock of he bank is $50.000 and the reported deposits at this time, as near as can be learned, are $52,000.


Article from Alexandria Gazette, November 16, 1897

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Article Text

TELEGRAPHIC BREVITIES. The General Assembly of the Knights of Labor, in session at Louisville, Ky., this morning selected Chicago as the next place of meeting. The steamer Belgenland, which ar. rived at Philadelphic this afternoon from Liverpool, is reported to have on board the crew of the Boston schooner Theodore Dean. It is said Captain Hodgdon, of the schooner, was lost. The argument for a recount of the rejected ballots of the special election held in New Jersey in September for amendments to the constitution was concluded at Trenton to day. The court took the papers and reserved decision. I. A. Wirstandley and C. J. Freder. ick, president and cashier respectively of the defunct New Albany, Ind., Banking Co., were arrested in New Albany this morning and taken to Jefferson. ville to answer indictments charging perjury. President Fetterolf, of Girard Col. lege at Philadelphia, issued an edict against football, and benceforth the students of the institution must keep off the gridiron. The ban on football was the result of a boy having his leg broken last Saturday during a practice game. Representatives of Sharky and God. dard have selected Bob McArthur, a well known devotee of boxing and a prominent member of the Olympic Club, to referee their contest on next Thursday night at San Francisco, Cal. The Knickerbocker Club has matched Dal Hawkins "and Eddie Connelly to fight twenty rounds at 130 "pounds December 16. After a prolonged session the directors of the Delta County Bank, at Del. ta, Colo., to-day concluded to suspend business and place the institution in the hands of an assignee. The bank has been regarded as one of the soundest on the western slope. The capital stock of the bank is $50,000 and the deposits at this time, as near as can be learned are $52,000. L. D. Spickler, a farmer, living near Cushing, Ia., yesterday shot and killed his wife and blew out bis own brains. The wife was shot in the breast and did not die for several hours. Four children are made orphans by the tragedy. They were the children of the woman by a former husband. Spickler separated from his wife over a year ago on account of family troubles. The company officials have notified the striking trammers of the Atlantic mine, at Houghton, Mich., that unless they return to work to-day new men will be employed in their places. Agent Stanton says that the company cannot grant a raise in wages nor dismissal of the boss trammer, as demanded. Trouble is predicted when the company begins filling the strikers' places. Al Hayman has decided to dispose of his theatrical interests in San Francisco. Action has been taken to dissolve the corporation which be organized in 1891 and which has since controlled the Baldwin and Columbia Theatres. It is believed that the leases of these two places of amusement will pass into the hands of Fried. lander, Gottlieb & Co., as Mr. Hayman's associates do not care to retain them. Dr. J. B. Webber and Selden Webber. of Warsaw, Ind, have fallen heir to an old Dutch estate which will net hem $50,000 each The founder of the estate, which ag. gregates $45 000,000, was a wealthy Antwerp merchant, who disinherited his son and entailed his fortune to the third generation of his descendants. The Dutch government, as trustee of the estate, has just identified the heirs. The coroner's jury at Passaic, N. J, rendered a verdict to-day, holding Thomas Welsh and George Cameron responsible for the death of George Nixon. of Garfield, N.J. who was killed in a brawl at McCabe's Hotel last Sunday week. The row arose out of the hiding of Nixon's bicycle which he had left in a rack at the hotel door while he went inside for re. freshments. Lindsey Neighbert, who shot Mrs. John Henry of Cincinnati, 0., on November 3, wounding her severely and who himself was shot either by his pursuers or by himself, jumped from the window of the hospital last night and was killed by the fall. The store house of the Woolsey Paint Works in Jersey City fell to-day Twenty-five people who had been employed in the structure had sufficient warning to enable them to escape, and no one was hurt The 1038 to the company will be about $20,000. J. F. Herman, for years 8 prominent attorney of Olathe, Kans., who was to have been tried in Lawrence on the cqarge of ob. taining money under false pretences, killed himself last night by taking carbolic acid. A dispatch from Chatham. N B., that the schooner Janet A. was lost Tuesday night of last week, off Fox Island. The bodies of three men and two women who were aboard were washed ashore.


Article from The Topeka State Journal, November 16, 1897

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Article Text

DELTA BANK ASSIGNS. Colorado Institution Placed in the Hands of an Assignee. Delta, Col., Nov. 16.-After a prolonged session the directors of the Delta County bank concluded to suspend business and place the institution's affairs in the hands of an assignee. A. R. King was named for that position. The bank has long been regarded as one of the soundest on the slope. An accountant has been put to work on the books, but a statement has not yet been issued. The capital stock of the bank is $50,000 and the deposits at this time, as near as can be learned, are $52,000.


Article from San Antonio Daily Light, November 16, 1897

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Article Text

BANK SUSPENDS. Delta, Colo., Nov. 16.-After a prolonged session the directors of the Delta county bank have concluded to suspend business and place the institution's affairs in the hands of A. R. King assignee, who was named for that position. The bank has been long regarded as one of the soundest on the Western slope. The capital stock of the bank is $50,000 and the deposits at this time, as near as can be learned, are $52,000.


Article from The Copper Country Evening News, November 17, 1897

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Article Text

Concluded to Suspend Business. Delta, Col., Nov. 17.-After a prolonged session the directors of the Delta County bank concluded to suspend business and place the institution's affairs in the hands of an assignee. A. R. King was named for that position. The bank has been regarded as one of the soundest on the western slope. An accountant has been put to work on the books, but a statement has not yet been issued. The capital stock of the bank is $50,000 and the deposits at this time, as near as can be learned, are $52,000.


Article from The Bryan Daily Eagle, November 17, 1897

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Article Text

Colorado Bank Closed Delta. Col., Nov. 16.-After a prolonged session of the directors of the Delta County bank. It was concluded to suspend business and place the Institution in the hands of an assignee. A. R. King was named for that position. The bank has been long regarded as one of the soundest on the western slope. The capital stock of the bank was $50,000 and deposits at this time as near as can be learned. are $52,000.


Article from The Salt Lake Herald, November 17, 1897

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Article Text

COLORADO BANK FAILURE. Reasons For Suspension of Delta County Bank. Denver, Nov. 16.-A special to the News from Delta, Colo., says: The cause of the failure of the Delta County bank, which closed its doors yesterday, is said to have been poor collections and the fact that J. E. McClure, president of the Bank of Montrose, which failed recently, was at one time vice president of the Delta County bank, although he is at present but a small stockholder in this bank. The Delta County bank also had some money tied up in the Montrose County bank. The assets are stated to be $110,000, and the liabilities $70,000.


Article from The Salt Lake Herald, November 17, 1897

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Article Text

BRIEF TELEGRAMS. The fact was cabled from London that the report was current in that city that £500,000 in gold was to be shipped to New York by tomorrow's Liverpool steamer, but the report could not be verified. President Fetterlof, of Girard college, has issued an edict against football. and henceforth the students must keep off. the gridiron. This action was the result of a boy having his leg broken last Saturday in a practice game. I. A. Winstanley and C. P. Frederick. president and cashier respectively of the defunct New Albany (Ind.), Banking company, were arrested and taken to Jeffersonville to answer indictments charging perjury. Warrants were issued for the arrest of officers of the defunct People's Savings bank at Lansing, Mich. A heavy snow has been falling all over the northwestern part of Nebraska the past 24 hours, and the storm has assumed the proportions of a blizzard. The storm attained its greatest violence in the northwestern part of Nebraska extending into Wyoming and Montana. Robert T. Lincoln's new son-in-law played left half back for the Wesleyans at Mt. Pleasant, Ia., yesterday, and made several good tackles and runs. Mrs. Beckwith was an enthusiastic spectator of the game. Chicago was selected as the next place for the Knights of Labor meeting. Resolutions were passed expressing a strong sentiment against the formation of an erbitration treaty between the United States and England. A great majority of the delegates are silver men. The Arizona Improvement company, the dominent corporation in the irrigation works << the Salt river valley, was made defendant today in the district court in Phoenix. in three suits, each praying for the appointment of a receiver. The property on which forectosure is to be taken consists of the Arizona canal and a controlling interest in the Grand Maricopa and Salt River Valley canals and their feeder, the water power canal to these being attached to 25,000 acres of choice land. William Elwood, at one time Stuart Robson's leading man. died in Detroit yesterday of heart failure. The Delta (Col.), county bank has suspended business. The capital stock of the bank is $50,000 and the reported deposits cut this time, as near as can be learned. are $52,000. Investigation into the charges of discrimination against veterans at Mare Island navy yard will be promptly conducted under Lieutenant John J. Knapp. The city council of Seattle yesterday afternoon took 13 ballots for mayor without result. There was no change in the situation. A controlling interest in the Commercial Tribune of Cincinnati passed into the hands of James M. Glenn and others who were associated with him in the management of the old Tribune before it consolidated with the Commercial Gazette.


Article from Daily Kennebec Journal, November 17, 1897

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RHEUMATISM CONDENSED DISPATCHES. The jury at Now York, Tuesday, in the case of Fritz Meyer, accused of the murder of Policeman Frederick Smith in the church of the Most Holy Redeemer, brought in a verdict of murder in the first degree. Meyer was found guilty after only 25 minutes' deliberation. The Greek bishop of Cansa, island of Crete, has been notified by the Russian consul that the Czar proposes to rebuild, at his own cost, the burned Christian quarter of Canea and to enlarge the Orthodox Greek church. His Majesty has also granted a large sum of money for the relief of the poor of Canea. Wm. McCarty of Quincy, who was found unconsclous in a room in a cheap hotel at Boston, Monday, with the gas turned on, died at the Emergency hospital, Tuesday. The man was well dressed and was between 30 and 40 years old. The Montana supreme court has sustained the constitutionality of the inheritance law passed by the last Legislature. The law imposes a tax of 5 per cent. on bequests to any beneficiary not a relatives where the estate amounts to over $100,000. The directors of the Delta county bank at Delta, Col., have concluded to suspend business and place the institution in the hands of an assignee. A R. King was named for that position. The bank has been regarded as one of the soundest on the Western slope. The capital stock of the bank is $50,000 and deposits at this time are nearly $52,000. J. F. Herman, for many years a prominent attorney of Olathe, Kan., who was to have been tried in Lawrence, under the charge of obtaining money under false pretenses, has killed himself by taking carbolic acid. Herman was detected in many crooked financial transactions and although an ardent Sunday school worker, it developed that he had lost heavily at cards. The third annual convention of the International League of Building and Loan Associations began at New York, Tuesday. The league includes nearly every building and loan association in the United States and Canada. There were 60 delegates present. President John Hanson of New Orleans, called the meeting to order. In a short address he called attention to the growth of the building and loan associations all over the country and the necessity of uniform laws regarding the associations. The secretary's report dealt with the increase in numbers of the association. their beneficial effects and their prosperity. Just before 12 o'clock noon Tuesday, the large stone wall, 45 feet high, which was built as part of the side wall of the new Phillips church, to be erected for the Congregational Society at Exeter, N. H., fell in with a crash, and four men were buried in the ruins. Of the men who were injured, John Gulligan of Boston, is expected to die, he having had both legs broken and sustaining serious internal injuries. The other three men were James Golden of Boston, badly cut on the head: Morris Donahue of Springfield, badly hurt on legs and back: and Michael Brantais of Boston. hurt about the head and neck.


Article from The Houston Daily Post, November 17, 1897

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Article Text

Delta County Bank Assigned. Delta, Col., November 16.-After a prolonged session the directors of the Delta County bank concluded to suspend business and place the institution in the hands of an assignee. A. R. King was named for that position. The bank had been regarded as one of the soundest on the Western spole. The cause of the failure is said to be poor collections and the fact that the bank of Montrose, which failed recently, carried money belonging to the Delta County bank. The assets are stated at $110,000 and the liabilities at $70,000.


Article from Eagle River Review, November 25, 1897

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Article Text

Delta, Colo., Bank Suspends. The directors of the Delta County Bank at Delta, Colo., have concluded to suspend business and place the institution's affairs in the hands of an assignee. A. B. King was named for that position. The capital stock of the bank is $50,000.


Article from Crawford Avalanche, November 25, 1897

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Delta, Colo., Bank Suspends. The directors of the Delta County Bank at Delta, Colo., have concluded to suspend business and place the institution's affairs in the hands of an assignee. A.B. King was named for that position. The capital stock of the bank is $50,000.


Article from The Meeker Herald, December 11, 1897

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Up at Delta a few years ago the McCarty gang attempted to hold up the Delta County bank and were shot down in the streets. Now the officials of that bank borrow (?) all the money in the bank, appoint a receiver and say nothing. The McCarty action was called robbery, the action of the bank officials is called depression in business. Wherein the depositors are better off than if the McCartys had got the swag is not shown.-Star-Times.


Article from The Delta Independent, July 8, 1898

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The semi annual mee ting of the directors of the Delta County Bank was held in the city Wednesday and wasattended by all the directors. The board expressed themselves as highly pleased st the showing made by the semi annual statement. Since last November when the bank suspended have paid off over 820,000 of the liabilities then outstanding besides paying the running expenses without having recourse to the new deposits. The bank has been for the past week paying off the dividend certificates due July 10. It now appeare that the bank will pay off its entire indebtedness a long time before the expiration of the three years the dividend checks run.