1252. Miners & Merchants Bank (Ouray, CO)

Bank Information

Episode Type
Run โ†’ Suspension โ†’ Unsure
Bank Type
state
Start Date
July 2, 1893
Location
Ouray, Colorado (38.023, -107.671)

Metadata

Model
gpt-5-mini
Short Digest
7021edb66c050bd4

Response Measures

None

Description

Two separate events appear in the articles: a small run mentioned in 1893 (article calls it Miners and Mechanics', likely OCR/variant of the Miners & Merchants name) that was promptly met, and a suspension of the Miners & Merchants Bank on 1922-06-07 due to lack of business for two banks at Ouray. The run and the suspension are decades apart and the sources do not say the 1893 run led to the 1922 suspension. Because both a run and a later suspension are recorded for the same Ouray bank and it is unclear whether the suspension was a consequence of any run, I classify the episode as run_suspension_unsure.

Events (2)

1. July 2, 1893 Run
Cause
Local Banks
Cause Details
Mentioned in the same paragraph as other local bank closures (First National closed); likely contagion/nervousness from nearby bank failures.
Measures
Withdrawals were promptly met; bank reassured public and faced no further trouble.
Newspaper Excerpt
There was a slight run on the Miners and Mechanics' but it was promptly met and the indications are there will be no more trouble.
Source
newspapers
2. June 7, 1922 Suspension
Cause Details
Suspension attributed to lack of business for two banks in Ouray (insufficient local business to support multiple banks).
Newspaper Excerpt
The Miners & Merchants Bank of Ouray announced the suspension of business on June 7th. The reason given for the suspension of this old and popular institution was the lack of business for two banks at Ouray.
Source
newspapers

Newspaper Articles (2)

Article from New-York Tribune, July 3, 1893

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Article Text

WESTERN BANKS CLOSE THEIR DOORS. Webb City, Mo., July 2.-The Exchange Bank of this city, Incorporate. capital $30,000. closed its doors yesterday and assigned to 11. D. Newman, of Joslin, for the benefit of creditors. The deposits are $60,000: liabilities not yet ascertained. Ouray, Col., July 2.-The First National Bank of this place closed its doors yesterday. Deposits amount to about $50,000. and loans and discounts about $120,000. No definite statement has been made. There was a slight run on the Miners and Mechanics' but 11 was promptly met and the indications are there will be no more trouble. Salt Lake City, Utah. July 2.-The National Bank of Commerce, at Provo, closed Its doors yesterday morning, owing to a run caused by the failure of the First National Bank. The bank's assets are $90,000, capital $50,000. other liabilities 825,000. Salida, Col., July 2.-The Chaffee County Bank, of which William E. Robertson is cashier, made an assignment last evening to 8. J. Foster of this city. Mr. Foster states that the liabilities are between $80.eco and $90,000. being near the latter figure. The deposits are $73,600, including $21,000 in certificates of deposits. He is unable to give the assets. There was a run on the first National Bank from the first moment it opened yesterday morning. At 11 :20 o'clock Director Holtenback addressed the crowd and told them there would be $100,000 on hand Monday morning, and all demands would be met promptly. They closed their doors at 11 :30 until Monday morning.


Article from The Delta Independent, June 2, 1922

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Article Text

IN GENERAL The Miners & Merchants Bank of Ouray announced the suspension of business on June 7th. The reason given for the suspension of this old and popular institution was the lack of business for two banks at Ouray. At the state meeting of the Lions Club, Colorado, held at Trinidad on May 22 and 23, Judge John Bradfield of Greeley was elected District Governor. The next meeting will be held at Glenwood Springs. All the Lions Clubs of Western Colorado were a unit for holding the next convention on the Western Slope. The Gunnison Cattlemen's celebration will be held Thursday, Friday and Saturday, July 19-20-21. Many stockmen of the Delta vicinity eagerly await the anouncement of the holding of this famous celebration each year. The program will be announced later.