1264. Colorado National Bank (Denver, CO)

Bank Information

Episode Type: Run Only
Bank Type: national
Bank ID: 1651
Charter Number: 1651
Start Date: July 18, 1893
Location: Denver, Colorado (39.739, -104.985)

Metadata

Model: gpt-5-mini
Short Digest: 97e4a38e

Response Measures

Accommodated withdrawals, Public signal of financial health

Description

Multiple articles (dated July 18–20, 1893) describe heavy withdrawals and a run on the Colorado National during the Denver panic. The Colorado National paid demands (except time certificates), received large gold shipments and remained open; no article indicates it suspended or entered receivership. The run was driven by panic caused by failures/closures of other local banks and savings institutions.

Events (2)

1. June 7, 1866 Chartered

Source: historical_nic

2. July 18, 1893 Run

Cause: Local Banks
Cause Details: Panic triggered by failures/closures of several Denver banks and savings institutions (Union National, Commercial National, National Bank of Commerce, and savings banks); depositors rushed other local clearinghouse banks.
Measures: Paid all demands except time certificates; demanded time certificates remain until maturity; received large shipments of gold (reported ~$500,000) to bolster cash.
Newspaper Excerpt: A run is now being made on the City National, German National, First National, Colorado National and all the eleven clearing house banks.
Source: newspapers

Newspaper Articles (16)

1. July 18, 1893 San Antonio Daily Light San Antonio, TX

Article from San Antonio Daily Light, July 18, 1893

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A PANIC OF FAILURES. Big Dry Goods House AttachedMore Banks Gone Under. DENVER, Colorado, July 18.-The McNamara, a dry goods company, one of the largest houses in the west, was closed on attachment this morning. They will probably make a general assignment. FORT SCOTT, Ks., July 18.-The First National bank, of this city, the oldest financial institution in Southeastern Kansas, has suspended payment. DENVER, July 18.-The Union National bank, of which R. W. Woodbury is president, failed to open its doors this morning. Its capital is a million dollars. No statement can be had. A run is at present being made on the City National bank, German National, First National, Colorado National, and all of the eleven clearing house banks. The panic is on. DENVER, Colo., July 18. - The National Bank of Commerce has closed its doors. DENVER, Colorado, July 18. The Commercial National bank has closed its doors. The notice says: "This bank has gone into liquidation by order of Board of Directore."

2. July 18, 1893 The Jersey City News Jersey City, NJ

Article from The Jersey City News, July 18, 1893

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EXTRA! DENVER'S BANK PANIC Three More Collapse and Rumors Are Rife on Several. DENVER, Col., July 18.-The Union National Bank, of which R. W. Wood, bury is president, failed to open its doors this morning. The capital is $1,000,000. No statement can be bad. A run is now being made on City National. German National, First National, Colorado National and all the eleven clearing house banks. The panic is on. DENVER, Col., July 18, 1893.-The National Bank of Commerce has closed its doors. Ex.Governor Job A. Cooper is President of this bank. DENVER, Col,, July 18, 1893. I The Commercial National Bank has closed its doors. A notice says:-"This bank has gone into liquidation by order of the Board of Directors,"

3. July 18, 1893 Deseret Evening News Salt Lake City, UT

Article from Deseret Evening News, July 18, 1893

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tion to draw upon,making It im possible to close their doore. The Colorado National and several others were equally good. The peo+ ple withdrawing their money were all small depositors. The banks are paying all demands except those on time certificates, demanding these to remain till the expiration of the time. President J. A. Thatcher of the clearinghouse saye: am confident that today will see the worst of this, and people will come to their senses. At a meeting of the clearinghouse last night we decided that we could not help the banks, and 10 some of them have gone to the wall. All of them, believe, have ample security to protect all their depositore, but unfortunately at this time cash and not security is what the majority of the people is clamoring for. At the State national bank quite a run is in progress. The officers appear to be in the best humor land say they are confident that they can weather the storm. Upt to noon everything was quiet at the Col rado national. It understood that half 11 million in gold was received there just before the doors opened this morning. Quite a crowd of people are about the doors of the Denver Na. tions. It was rumored that a run W&F in progress there but it was soon learned that the men of the Union Pacific employee were simply getting checks cashed fo the last month's work. "This bank is closed by orders of the board of directors," is a notice posted every entrance to the National Bank of Commerce. The officers inside refuse admission to outsiders. The condition of this bank is not known as it did not print a statement yesterday as was done by almost all the other banks. Joh H. Hanna of the City National said that they were in as good condition anybody. Hanna hopes to be able to control enough deposits to tide over. Several of the principal depositors made large deposits this morning. Some who owe the bank in the shape of notes but have cash deposits had payment refused on their checks. Liabilities subject to check are $559,808. Of this the officials control nearly two-thirds, 80 that the cash on hand, amounting to $333,338, will meet the demands of the email depositors. The Union National closed its doors this morning. and a notice was posted explaining that the bank had paid out B million dollars to the depositors in the last few weeks. It had realized on securities as rapidly as possibly but not fast enough. It has $1,600,000 in securities and owes approx. imately half a million. It is thought it will be able to realize on the securities when all the depositors will be paid in full. It expects to open again soon. The bank's resources ed sist of loans and discount, $1,622,689 and United States bonds to secure a circulation of hundred fifty thousand; cash and exchange $147,568; overdrafts $32,078; deposits $583,558. Due other nationnal banks $14,098; state bank $29,809; paper outstanding $170,000. President Wood. bury thinks it will reopen. The Commercial National closed its doors when it became evident from the size of the crowd outside that a run was to be inaugurated and a notice was posted: "Closed for liquidation, by the order of the board of directors." It has a capital stock of a quarter of a million, but only $2000 cash on hand. At the American National the small dei ositors who are not numerous made a run. The bank has a million capital and deals largely with men who handle big sume. The following are the first reports received: PANIC IN DENVER. DENVER, July 18.-The Union Na. tional bank has failed. It has a capital of $1,000,000. There is no statement yet. A run is now being made on the City National, German National, First National, Colorado National and all A eleven clearing house banks. panic ison. Later-The Commercial National has closed its doors. A notice on the doors saye: "This bank has gone into liquidation by order of the board of directors." The National Bank of Commerce has closed its doors. Ex.Governor J. A. Cooper is president of this bank.

4. July 18, 1893 Alexandria Gazette Alexandria, VA

Article from Alexandria Gazette, July 18, 1893

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Failures. As a result of the recent Thornto: bank failure, Nancy M., W. N. and John D. Stewardson, extensive farmers and stock raisers of Shellbyville, Ills., have ,assigned to W. E. Walker. Liabilities about $30,000; asserts $25,000. The Bank of Anacortes, Washn., failed to-day. The First National Bank of Fort Scott, Kas., the oldest financial institution in southeastern Kansas, has suspended. The Citizens Bank of Ada, the most prominent one in Hardin county, Ohio, failed to open its doors this morning. The Union National Bank of Denver, Col., failed to open its doors this morning. The capital is $1,000,000, No statement can be had. The Commercial National Bank and the National Bank of Commerce have also assigned. A run is now being made on the City National, German National, First Na. tional, Colorado National and all the 11 clearing house banks in Denyer. The panic is on.

5. July 19, 1893 The Wheeling Daily Intelligencer Wheeling, WV

Article from The Wheeling Daily Intelligencer, July 19, 1893

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of the The failure the masses, vesterday located clearing of were each four other blocks within the the far and into streets surrounded, and until speofficers crowd gathered to the out were clear called police the for way Union truffic. 10o'clock a of with 000,000, capital National, not that they would notico posted the This their doors. startod the and Comno quickly National follow posted.ru of the Bank inercial then National and "Where asked: people on all started other Peoples run was banks, immediately thouNational to no groat The dest of of the extent National upon the having over appear to be with 60 per a private cent draw upon. First they on handdition close their doors. their all, deposits $1,500,000 impossible in National as others The mob fund of making The it Colorado are in are thdrawing equally their money deposit let being all small satisfied to in their holdor main banks. Accounts all ox. are The banks paying demandand time they rtificates, demand. the ing these until ing that expira remain As bank every crowded is no as rendering combeing tion clearing time. Institution the meeting it was sistance, stand each alone. house last and night gome pelled of the clearing to help banks, of which decided of them not went National Bank, quite a run is men Altho Stato is for of their in progrous a in large line waiting can get their ap. pear and women are 80 they of the bank and come officers of humor are say they storm. o'clock money. turn to to Confident The the best they can weather was overything National. of the "This bank of is board directors, to the at every entrance National the quiet Up at the 12 Colorado is closed by notice order posted Bank of of which Governor Commerce, is The offiCooper president. of but no amount been sufficers Job A. are indentraty or has to gain admis- is not pounding cient for newspaper condition men of public, as this bank vester offiThe the general statement of the banks cere day, was done City sion. known did to not print by a almost all National to other John R Hanna, they of felt the the any body. as selves $40,000 east Bank said good that condition borrowed in gold The be in bank as recently and is paying from this morning. the the deposite such and Several of deposits this putting can made large of bank the have at are hand and runs ac- on the bank spare. sums friends Those they are those who are who making have small posted had a counts Union National that Bank the bank 000 to notice approxime few The explaining mately $1,000, weeks. The had on realized it but paid out in the stated last that the rapidly bank as that notice depositor further its securities was not as fast enough in to suit possible, depositors. and owes that the bank securities It is thought upon been its socur paid in $500,000. will be able depositors realize have to realize. again Commercial when all The bank BOOD expects as can bank post- for notice: for full. business as National "Closed of diboard ed The the following by order of the in bad shape. only liquidation The bank $250,000 was and had jcan rectors. It has cash in of the rushed bank to the Amer and $2,000 in depositors bank this morning The has than Small National out their deposits. less sidall depositors capital. as city, began American to draw National any bank other of its dealing handled The $1,000,000. in the with who ot the who have been largely vico president and had to the big money. said that those thoso who paid The grocera depositors draw butchers money are with checks bank in person to in private a with noon. money Mercantile capital Bank, stock a of The $100,- fail. of the stitution, its doors at failure which 000, closed caused by Bank, the through audi F. ure was Union National O.C. Girda, Robinson the clip Pub- fortor.is cleared. president of W. the Republican oldest and been merly tishing treasurer Company, dividuals one of the in the state, and exeitement upon the respected made the assignee demands banks after una money continued it about al when o'clock all the banks the bated entirely until subsided State National line and of deseemed to increaso is bank National, Utah where the instead of to underato from way City reach here early special This bearing train on $400.000 the and that ved First little National after closing Bank 1 o'clock hour. recei This and money Moffatt President New nt the York. for Icua, bullion he the before the of close, failure Savings with Bank, Its $100,000, the hour dozen people hardly half the institutions except First president of the

6. July 19, 1893 Wheeling Register Wheeling, WV

Article from Wheeling Register, July 19, 1893

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AT GREAT DENVER. EXCITEMENT of the savings Banks Stirs The the Failure People- Through No COL., such July DENVER, in all the ever was West witnessed shortscene as could be seen here when the for business. after 9 o'clock, open their doors savings banks The the excited supposed The to failure of the masses. located yesterday clearing had house each banks, other, were eleven within four blocks far of into the and streets special the surrounded. gathered and until officers to clear the way Napolice crowd were called At 10 o'clock out $1,060,000,1 the Union for tional, traffic. with a capital would of not open and their folnotice that they started the panic National This Commercial Nadoors. lowing quickly the notice and then and the people asked: posted similar of Commerce, Arun started on tional Bank Where will this stop?" on all the other upon mediately though to no great The extent First Na. all, the banks, People's National. be the soundest of of their tional appears over to 60 per private cent. fund of they having on hand, with to draw upon. their $1,500,000 deposits in impossible addition to close and sevmaking it Colorado National as good conditheir doors. eral others The are in equally money tion. withdrawing the large holdThe mob, depositors, their accounts are being all small satisfied " let The banks cer- are ers remain in all the demands. banks excegt that on time these re- As is paying they demanding expiration of time. bank tificates. main until the crowded the clearing each assistance, being the every house is rendering compelled no to clearing stand institution At the meeting of decided not them to the help alone. house last banks, night it and was so some of weat under. of which Bank, At the State National president, quite number a run of J. D. McNeil is progress and in line e waiting their for men is to and women come are so they can bank get apmoney. their turn The to officers best of of humor the weather and say the Up storm. pear to be confident they in the can this writing, Naat the they are to 12 o'clock, Colorado order tional. is of the board everything "This is quiet bank of is closed directors, by at every posted of Comof notice the National Bank Job A. the entrance to which ex-Governor The officers are or no but been Cooper, merca is President. amount of pounding sufficient for The of entreaty inside has so to far gain admission. known to condition its newspaper men this bank is officers not did not done the general a statement public yesterday banks. as was John print almost all of the City other National to Bank, be in R. by Hanna, of the felt themselves anybody The the said good that they condition borrowed as $40,000 morn- from as bank east recently and is paying in gold this depositors ing. Several of deposits the (incipal this putting morning in such and have friends made large of the bank are at band and runs can on the spare. sums bank as Those are they those who are who making have closed small ac- its counts. Union National and Bank a notice was had that The this morning. the bank depositors posted doors explaining approximately $1,000.00 The to nothat paid out in the last weeks. bank had reas posOD tice further its stated securities not as rapidly fast enough in se- to 000. alized sible, but that it It was approximately has 000 $500,suit depositors. and owes the bank will realize in curities It is thought upon that its securities. full paid for be able all to depositors will to open be axain The when bank soon expects as can realize. Bank closed A business The Commercial morning National within notice a few minits doors after this the opening. "Closed for liquidaposted utes on the door: of the Board shape. of Direc- It tion, by The order bank was of $250,000, in bad and Small had has tors." capital stock cash in the American bank. Naonly $2,000 rushed in to the and began to depositors tional Bank this deposits. morning The depositors American out their small $1,000,000, draw Bank hasless capital, been its National any other of its dealings have money. largely of than in the city, with as men who handle the bank big said that are The vice are and money butcher draw those those who who paid The grocera depositors had money. to with checks. in person to a private instito bank Mercan Bank, stock of $100,000. failure The with a capital noon. The tution its doors at failure of the Union it was closed caused by the through which Auditor, National Bank, the City formcleared. C. Girda, W. F. Robinson, Pubpresident. T. of the Republican the oldest and lishing erly treasurer Company, ind one dividuals of in the State, 2 about most respected made the assignee. until has been excitement almost continued ur entirely received subsided $100. o'clock The when National o'clock Bank and $250,000 from act The a First little closing after hour. This due came President the was money sold. more New York. bullion It he had failure of the Mercantile Moffatt Just before for Savings the close Bank, the with & capital of the among bankers over men business be will $100,000 The general was opinion that obliged panic to is close. less than 8.000,000 and and that no banks by bankers that from the banks in regular Itis stated has been months drawn or this, lines $3,000, in the city. the last gone three the East is $5,000,000 hoarded vaults are 000 business, has but The there safety deposit full. BUSINESS AND FINANCE.

7. July 19, 1893 The Daily Morning Astorian Astoria, OR

Article from The Daily Morning Astorian, July 19, 1893

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SEVERE RUN ON DENVER BANKS Several of Them Compelled to Close Their Doors. SMALL DEPOSITORS EXOILED And Entirely Responsible for the Condition of Affairs-The Worst Thought to Be Over. au Associated Press. Alter Denver, July 18.-No None was ever witnessed here before like that of this morning. shortly after the hour when the banks opened for business. The failure three savings banks yesterday had excited the masses, and at the hour of opening the streets were crowded with anxious depositors, The eleven clearing house banks, located within four blocks of each other, were surrounded, and far into the streets the crowd gathered until the police were called to clear a way for traffic. At 10 the Union National, with a capital of $1,000,000, posted a notice that they would not open their doors. This started a panic, and following quickly the Commercial National posted a similar notice, and then the National Bank of Commerce A run was immediately started on all the other banks, although to no great extent upon the Peoples' National. The First National appears in unexceptionable conditon, having over sixty per cent of its deposits on hand, with a private fund of a million and a half in addition to draw upon, making it impossible to close their doors. The Colorado National and several others are equally good. The mob wthdrawing money are all small depositors. The banks are paying all demands except time certificates, der manding that these remain until the expiration of their time. President J. A. Thatcher, of the clearing house, says: "I am confident today will see the worst of this, and that the people will come to their senses." Denver, July 18.-The Mercantile Bank, a private institution, with a capital of $100,000, failed at noon. The failure was caused by that of the Union National, through which it cleared. Denver, Col., July 18.-The Union National Bank has closed. It has a capital of a million dollars. No statement has been made as yet. A run is now being made on the City National, German National, First National, Colorado, National, and all of the eleven clearing house banks. A veritable panic is on. Denver, July 18-The Commercial National Bank has closed its doors. Denver, July 18.-The National Bank of Commerce has closed. Topeka, July 18.-State Bank Eyaminer Briedenthal this morning received notice of the failure of the Citizens' Bank at Kansas City, Kas., the Bank of Richmond and the Farmers' and Merchants' Bank of Ossawattomie. The concerns are all sma.1. No statements have been male. Other similar failures throughout the state are expected Fort Scott, Kan., July 18.-The First National Bank, the oldest financial institution in this part cf the State, has failed. Toledo, Ohio, July 18.-The Citizens' Bank of Ada, the mose prominent bank in Hardin county, failed this morning. No statement hss as yet been made.

8. July 19, 1893 The Madison Daily Leader Madison, SD

Article from The Madison Daily Leader, July 19, 1893

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PANIC AT DENVER Three More National Banks There Ferrer to Make Assign. ments. Depositors the Remaining Banks wildly Clamoring For Their Honey. Suspension of a Big Dry Goods House Adds to the Intense Excite ment. DENVER. July 19.-Never in the history of commercial and mercantile a life in the Rocky mountains has such state of financial affairs existed as now prevails in Denver and throughout banks Colorado. It was hoped that the that had weathered Monday's financial storm would be in such a position as to with all the demands made upon them cope by depositors. This hope was in dissipated by the announcement the quick succession of the failure of National Bank of Commerce, the Union National bank and the Commercial National bank. In the attending ex- to citement it is almost impossible ascertain the assets and liabilities of each bank, and this information may not be given out until later in the day. Depositors Panic-Stricken. The depositors in the different banks have become almost completely panicstricken and long lines of people are in pushing and crowding each other order to get to the paying teller's win- that dows of the dozen remaining banks they may secure their money on deposit. of to the excitement the Dry of $260,000 was of assets is not liabilities the The To add McNamara amount Goods company, stated announced. failure equal buti with is believed they will more than The failure was by the filing of an in favor of the This was for the cipitated tional $71,780 liabilities. bank. attachment attachment Union shortly pre- Na- beserved at 1 o'clock a. m. and fore business hours another attachment for $20,846.74 in favor of the Colorado National bank was served upon the company and the doors were closed. The dry goods company had a large amount of money outstanding on credit and on account of the stringency & the money market was unable to collect from country customers and thereby make their credit good at different banks. Claim to Be Sound. The First National bank appears to be on the best footing of all the banks. It claims to have on hand over 60 per cent of its deposits and to have a private fund of $1,500,000 in addition to draw upon, making it impossible for any demand to go unattended. The Colorado National bank and several others claim to be equally well fortified any run. Over per of who are the against people clamoring 90 cent for their money are small depositors. The large holders express confidence in the of the banks to successfully ride the As every bank is ability storm. rendering crowded no the clearing house is assistance and each bank is compelled to stand on its own resources. Believe the Worst Over. In an interview at noon President John A Thatcher, of the clearing h said: "I am association, confident people will the worst of this is over and to their senses. At the of the clearing house we ing soon come decided meetthat we could not help the banks and some of them have gone to the wall. All of them. I believe, have ample to protect all but at this time not security unfortunately depositors, cash and security is what the majority of the people are clamoring for." Up to 12 o'clock everything was comquite at the NaIt stated that the parativaly tional bank. Colorado bank in received nearly half a million dollars gold just before the opening hour. At the National Bauk of Commerce every entrance has the following placard: "This bank is closed by order of the board of directors." The doors are locked and no one is to enter. At 1:30 no had been the allowed failures announced, additional but feeling was still of a panicky nature. Still Another. DENVER. July -Late In the after

9. July 19, 1893 The Salt Lake Herald Salt Lake City, UT

Article from The Salt Lake Herald, July 19, 1893

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A SENSELESS SCARE. Denver People Needlessly Excited Pre cipitate a Ran on Her Banks. DENVER, July 18.-No scene was ever witnessed here before like that this morning. Shortly after the hour when the banks opened for business the failure of the three savings banks yesterday had excited the masses, and at the hour of opening the streets were crowded with anxious depositors. The eleven clearing house banks, located within four blocks of each other, were surrounded and far into the street a crowd gathered till the police was called to clear the way for traffic. At 10 o' clock the Union National with a capital of $1,000,000, posted a notice that they would not open the doors. This started a panic and following quickly the Commercial National posted a similiar notice, then the National Bank of Commerce. A run was immediately started on all the other banks, though to no great extent on the People's National. The First National appears to be in unexceptionable condition, having over 60 per cent. of its deposits on hand, with a private fund of in addition to draw upon, makit to $1,500,000 ing impossible close their doors. The Colorado National and several others are equally good. The mob which is withdrawing its money is composed of small depositors. The banks are paying all demands except on time certificates, demanding that these remain till the expiration of the time. President J. A. Thatcher, of the clearing house, savs: "I am confident today will see the worst of this, and the people will come to their senses. At a meeting of the clearing house last night we decided that we could not help the banks, and so some of them haye gone to the wall. All of them, I believe, have ample security to protect all depositors, but unfortunately at this time cash and not security is what a majority of the people are clamoring for." At the State National bank quite a run was in progress. The officers appear to be in the best humor and say they are confident they can weather the storm. Up to noon everything was quiet at the Colorado National. It is understood $500,000 in gold was received there just the doors morning. a crowd of people was before Quite opened this about the doors of the Denver National. It was rumored that a run was in progress there, but it was soon seen that the men were Union Pacific employees simply getting checks cashed for last month's work. 'This bank is closed by order of the board of directors" is the notice posted every entrance to the National Bank of Commerce. Officers inside refuse admisa sion to outsiders. The condition of this e bank is not known, as it did not print a a statement yesterday, as was done by almost all the other banks. John H. Hanna of the City National e said they were in as good condition as e any body. Hanna hopes to be able to a control enough deposits to tide over the bank. Several of the principal depositors n made large deposits this morning. Some S who owe the bank in the shape of notes , but have cash deposited had payment refused on their checks. Their liabilities

10. July 20, 1893 San Antonio Daily Light San Antonio, TX

Article from San Antonio Daily Light, July 20, 1893

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STILL SHAKEY At Denver, Although the Report Says it Looks Better. DENVER, Col., July 20.-There will apparently be no more bank failures in Denver. The panic wore itself out yesterday with the failure of the People's, German and State National banks. This morning when the Colorado, Denver City and American National banks opened their doors, there was hardly a dozen depositors in all of them at the paying tellers' windows. At the First and Colorado National banks a long string of depositors reaching nearly to the street were lined up in front of the receiving teller's window, and money was going back into the bank's vaults, almost as rapidly as it was withdrawn during the past three days. The German, State and People's National banks could pay three for one, if they could only realize on securities. There may be a few commercial failures in the city within the next few days as a result of the suspension of banks, but it is believed, that in no instance, whether banking or commercial house, will failure be complete and `resumption of business will surely follow shortly. It is stated today that the McNamara Dry Goods House, which failed Monday for $260,000, have settled with their principal creditors, and will resume business Monday.

11. July 21, 1893 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, July 21, 1893

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WAGON WHEAT 57c ARCADE MILLS, RESULT OF DENVER'S CRASH Trade Paralyzed in Colorado, and 30,000 Men Already Out of Work. Quiet Day in the Silver State Capital Following the Storm, but Strings of Out of Town Banks Are Tumbling All Around. DENVER, Col., July 20.-The closing down of many silver mines, smelters. and the reduction of the working forces of coal mines, railways and manufactories in this State, because of the reduction in the price of silver, has caused a deplorable condition of affairs among the laboring classes. I is estimated that to-day there are 10,000 men in Denver unable to secure employment. There are 20,000 in outside towns in the same condition, one-half of whom are making their way to this city, where they will become a public charge if conditions do not speedily change. The typographical union, at a meeting last night, appropriated $1,000 for the purpose of sending unemployed men to their homes in the East. The railways have been asked to make a fifteen-dollar rate for the men to any point between here and Chicago. A conservative estimate of the men discharged by railways, mines, business houses and factories since the silver panic started places the number at from 13,000 to 15,000. It is also estimated that Colorado, Utah, Montana and New Mexico merchants have countermanded orders on New York wholesale houses for goods during this time amounting to over $12.000.000. There will apparently be no more failures in Denver. The panic wore itself out yesterday with the failure of the People's, German and State National banks. This morning when the First, Nevada, Denver, City and American nationals opened their doors there were hardly a dozen depositors in all of them at the paying tellers' windows. In the First and Colorado National long string of depositors reaching nearly to the street were lined up in front of the receiving tellers' windows, and the money was going back into the bank vaults almost as rapidly as it was withdrawn during the past three days. The German, State and People's nationals could pay $3 for 81 if they could realize on securities. It 18 stated to-day that the McNamara dry goods house, which failed Monday for $260,000. have settled with their principal creditors, and will resume business Monday. The Roberts Hardware Company was attached this afternoon on a claim of the Colorado National Bank by Frank H. Bancroft for $13,000. The Adams Manufacturing Company was attached for $16,000. A number of the firms closed yesterday and the day previous will resume business to-morrow. Chief among these is the Flanders Dry Goods Company. the court having ordered the sheriff to turn the property over to the assignee, who will conduct the business pending settlement. The Hallack-Sayre Lumber Company and store resume. The the Palace Tucker drug Manufacturing will Company also has also made arrangements to resume. A number of others will open in a few days.

12. July 21, 1893 The Portland Daily Press Portland, ME

Article from The Portland Daily Press, July 21, 1893

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Panic Over in Denver. DENVER, Col., July 20. - There will apparently be no more bank failures in Denver. The panic wore itself out yesterday with the failure of the People's, German and State National Banks. This morning when the First, Colorado, Denver, City and American Nationals opened their doors there was hardly a dozen depositors in all of them at the paying teller's windows. In the First and Colorado Nationals a long string of depositors reaching nearly to the street were lined up in front of the receiving tellers' windows, and the money was going back into the bank vaults almost as rapidly as it was withdrawn during the past three days. The German, State and People's Nationals could pay $3 for $1 if There they could realize on securities. may be a few commercial fallures in the city within the next few days, as a result of the of banks, but it is believed that in no instance, a or a commercial failure be and banking suspension complete, that house, resumption whether will the of business will surely follow shortly. It is stated today that the McNamara dry goods house, which failed Monday for $260,000, have settled with their principal creditors and will resume business on Monday. Run On Banks in Greeley, Col. GREELEY, Col., July 20.-The Union Bank closed its doors at 1p. m. yesterday, and half an hour later the Greeley National pulled down its blinds and turned the key in its door. The Union's statement says that owing to the suspen sion of certain Denver National banks, which had on deposit several thousand dollars of its money, and the fact that there was a steady withdrawal of deposits, about $80,000 in the past 90 days, they were compelled to suspend business. They say their liabilities are about $100,000, with assets and paid up capital $300,000. As soon as the fact of the suspension ot these banks became known a steady run was made on the First National, but it continued to honor all checks and drafts, and even after the regular closing hours cashed two checks presented. On Change in Gotham. NEW YORK, July 20.-There was a sensational decline in general electric securities in the stock exchange after midday. The stocks broke 46 1-2, against 55 3-4 early, the debenture fives sold down to 74 regular. The stock| 1 is absolutely without support and the same crowd in the stock exchange which has been prominent in breaking the stock from 100 down, were conspicuous in today's movement. There were heavy liquidations, holders being unable to stand the pressure any longer. One report was that the company had lost a suit at the West, involving an incandescent lamp patent. Other rumors affeeting the property were of a highly sensational character and up to a late hour this afternoon had not been traced to any authentic source. New Hampshire Bank Enjoined. FARMINGTON, N. H., July 20.-The Farmington Savings bank was enjoined from doing business this afternoon upon the petition of the bank commissioners because of the inability of the institution to realize on its assets, the uneasiness of depositors caused by losses on investments and to prevent a run on the bank. This Plant Cost $1,000,000. SAN FRANCISCO, July 20.-Attachments aggregating several thousand dollars have been filed against the Union Stock Yards company whose packing establishment is at Rodoe, Contra Costa county. The immense,plant, it is said, has practically shut down. The plant cost $1,000,000 and was started May 15. Money Is Tight and the Distillery Closed. FRANKFORT, N. Y., July 20.-A sensation was caused in business circles here today by the assignment of Col. E. H. The Taylor, Jr.. the famous distiller. liabilities are not given out. It is said they are far exceeded by assets. The tightness of the money market caured the assignment.

13. July 21, 1893 The Sun New York, NY

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HELP FOR DENVER BANKS. COMPTROLLER ECKELS WILL GIVE THEM ALL THE AID HE CAN. Ec will Grant Them Time to Collect oney to Start Again-The News Halled with Joy in Denver Many People Putting Their Money Back in the Banks Sun Open-A Sharp Brenk in General Electric the Feature Yesterday in Wall StreetThe Army of Unemployed is Very Large. WASHINGTON, Jul" 20.-Comptroller Eckels. immediately on his return from New York this morning. addressed to Frank Adams. the Nntional Bank Examiner at Denver. a despatch defining the policy of the Administration with reference to insolvent national banking institutions generally. as follows: "I wish you would announce to the officers the banks which have failed in Denver that my intention to lend them every aid possible looking toward speedy resumption on their part. and that I shall grant to them sufflcient time to enable them to not only collect in such amounts as are speedily collectible. but to get together such amounts of money as will enable them to open upon a small basis. It seems to me that such citizens as have by a foolish course of conduct in withdrawing deposits from banks which so long enjoyed their complete confldence. and brought about this condition. ought. in view of the damage they have done their city. as quickly as possible to repair it by standing ready to deposit with them. I fully appreciate all the circumstances of the situation. and. that no unnecessary loss may be entailed. you are authorized to employ as assistants. to protect paper and collect in moneys. the most competent and trustworthy employees in such institutions. I have also ordered Examiner McHugh of Iowa to report at once to assist you. I desire that this telegram be given to the press at Denver. evidencing as t does that the Comptroller has faith in the ability of the banks of Denver to resume. and of his desire to lend them every assistance consistentwith his official duty. When asked to express more fully his views the condition of affairs. Mr. Eckels said the failures on in Denver yesterday. like a number of other national bank failures. were caused by no fault of the bank officials. but through a foolish and uncalled-for lack of confidence on the part of depositors. It in my intention." he said. where a bank has been properly conducted. and whose assets under ordinary circumstances would have permitted it to remain solvent. to give the institution every opportunity to resume business. Allthe Denver banks that failed were well conducted. and every opportunity will be given them to reopen. The people who have caused the Denver disaster by foolish runs should do all they can to help the banks resume. Notifications of two more failures reached Mr. Eckels this forenoon. The unfortunate banks are the First National Bank of Harriconville. Mo which went under this morning. and the Oklahoma National Bank of Oklahoma City. Oklahoma. which closed its doors yesterday Comptroller Eckels's efforts to secure a reopening of the insolvent Chemical Bank of Chicago have failed. This morning Mr. Eckels received the following telegram from the Chemical Bank Committee: After long. patient. and earnest efforts. the committee of the stockholders of the Chemical National Bank of Chicago has concluded that resumption is not practicable at this time. At first the problem seemed easy. but the many financial disasters throughout the country have excited the public and produced unusual cath tion. and made it very difficult to collect outstanding bills or raise money by usual processes. The conditions Imposed by the Comptrol or were well received. but the present stringency seems an obstacle too serious to be overcome by the stockholders. DENVER. July 20.-There will apparently be no more bank failures in Denver. The panic wore itself out yesterday with the failure of the People's. German, and State National banks. This morning. when the First, Colorado. Denver. City. and American Nationals opened their doors. there was hardly a dozen depositors in all of them at the paving tellers' windows. In the First and Colorado Nationals along string of depositors reaching nearly the street were lined up in front of the reselving tellers windows. and the money was going back into the bank vaults almost as rapidly as it was withdrawn during the past three days. The German. State. and People's (nationals) could pay $3 for $1 if they could realize on securities. There may be a few commercial failures in the city within the next few days. result of the suspension of banks. but it 16 believed that in no instance. whether a banking or commercial house, will the failure becomplete. and that resumption of business will surely follow shortly. It is said to-day that the McNamara dry goods house. which failed on Monday for $250,000. has settled with its principal creditors. and will resume business on Monday The cheering news from Washington has had a wonderful effect upon Denver. The despatch from Comptroller of the Currency Eckels to the effect that he would give every possible aid to the banks of this city is applauded on overy side Bank Examiner Adams. to whom the telegram was addressed. is besieged by excited people anxious to hear a confirmation of the good report and get an expression from him. Mr. Eckeis's comments on the foolish course of those Denver citizens who had lost contidence in the banks are strongly commended. The newspapers ran off extras announcing the news. and already things begin to wear a brighter aspect. The officers of the several closed banks all notify the public that they will be able to pay every cent due to customers. But in some cases it will take some time to realize on securities. It is learned that heavy withdrawals have been made from several of the banks during the past few months. which would indicate that some of the far seeing ones anticipated trouble such as has come upon the city in the past few days. It is noticeable that very few of the merchants or business men of the city withdrew their deposits. the run being made principally by the working people and poorer classes of customers. The newspapers feel greatly the distress. every daily excepting one having curtailed expenses by reducing in size or using largertype. The closing down of many silver mines, smelters. and the reduction of the working forces of coal mines. railways. and manufactories in this State has, however. caused a deplorab condition of affairs among the laboring classes. It WAS estimated that to-day there 10.000 men in Denver unable to secure

14. July 22, 1893 The Dickinson Press Dickinson, ND

Article from The Dickinson Press, July 22, 1893

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BANKS IN DENVER FAIL. Denver, July -The Union National bank, of which R. W Woodbury is president. failed to open its doors yesterday morning The capital is $5,000,000. No statement can be had. A run was made on the City National, German National, First National, Colorado National and all the eleven clearing house banks. The Commercial National bank and the Na tional Bank of Commerce are also closed. Ex-Gov. Job Cooper is president of the last named bank.

15. July 27, 1893 River Falls Journal River Falls, WI

Article from River Falls Journal, July 27, 1893

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WILL AID THE BANKS. Comptroller Eckels Will Do All in His Power to Help Embarrassed But Reputable Banks to Resume-The Flurry in Denver About Over. WASHINGTON, July 21.-Comptroller Eckles has sent a dispatch to Bank Examiner Adams at Denver in which he said, in effect, that he would give every possible aid to the banks of that city, and would grant to them sufficient time to enable them to not only collect such amounts as are speedily collectable, but to get together such amounts of money as will enable them to open upon a small basis. The comptroller also said: "It seems to me that such citizens as have. by a foolish course of conduct in withdrawing deposits from banks which so long enjoyed their complete confidence, brought about this condition, ought, in view of the damage they have done their city, as quickly as possible to repair it by standing ready to deposit with them.' Referring to his action the comptroller said the failures in Denver, like a number of other national bank failures, were caused by no fault of the bank officials, but through a foolish and uncalled-for lack of confidence on the part of depositors. He continued: "It is my Intention where a bank has been properly conducted and whose assets under or dinary circumstances would have permitted it to remain solvent, to give the institution every opportunity to resume business. All the Denver banks that failed were well conducted, and every opportunity will be given them to reopen. The people who have caused the Denver disaster by foolish runs should do all they can to help the banks resume." "What is true regarding Denver applies with equal force to banks in other portions of the west where suspension has not resulted from reckless investments or bad managemento the part of officers. Wherever the citizens of a place have precipitated trouble by*instituting a run upon long-established and well-conducted institutions it is but just that they should take hold and assist these banks by redepositing with them, thus placing them in A position to resume their business on a sound financial basis. Wherever possible and advisable the most trusted employes of suspended banking institutions are to be retained by the bank examiners in the interests of the creditors and stockholders, so that every possible means of realizing on the absets of the institution may be accomplished. Instructions to the examiners. however, are to the effect that only in cases of reputable, -established banks are these conditions to be imposed, and no wild-cat institutions or methods will be sanctioned by this office." DENVER, Col., July 21.-There will be no more bank failures in Denver. The panie wore itself out Wednesday with the failure of the People's, German and State national banks. This morning when the First, the Colorado, Denver, City and American nationals opened their doors there was hardly a dozen depositors in all of them at the paying teller's window. In the First and the Colorado nationals a long string of depositors reaching nearly to the street were lined up in front of the receiving teller's windows, and the money was going back into the bank vaults almost as rapidly as it was withdrawn during the past three days. The German, State and People's nationals could pay $3 for $1 if they could realize on securities. Bank Examiner Adams has received a dispatch from Comptroller Eckels which has gone far toward restoring confidence. The officers of the several closed banks all notify the public that they will be able to pay every cent due to customers. But in some cases it will take time to realize on securities. It is learned that heavy withdrawals have been made from several of the banks during the last few months, which would indicate that some of the farseeing anticipated the trouble. It is noticeable that very few of the merchants or business men of the city withdrew their deposits, the runs being made principally by the working pec ple and poorer classes of customers. There may be a few commercial failures in the city within the next few days as a result of the suspension of banks, but it is believed that in no instance, whether a banking or commercial house, will the failure be complete. A resumption of business will surely follow shortly. It is stated that the McNamara dry goods house, which failed Monday for $260,000, have settled with their principal creditors and will resume business Monday. The Flanders dry goods house, occupying premises of five store fronts and five stories high on Sixteenth street, was attached by H. F. Bradley, of Boulder, Col., for $24,000. There is no definite statement of the condition of the firm yet available. Competent judges place the assets at $200,000 with liabilities at $125,000. The failure was caused by the suspension of the People's national bank, to which $25,000 was due. The Union bank of Greeley has closed, with liabilities of $100,000 and assets of $300,000. The Greeley national bank also suspended, but has made no statement. The failures are attributed to the Denver troubles. The Bank of Loveland, at Loveland, Col., has closed its doors, having been caught by the general depression. President Benson, of the bank, assures depositors they will be paid in full. Word has reached here that the First national banks at Canon City and Grand Junction, in this state, failed to open their doors. There are as yet no particulars, but probably the failures were caused by the suspension of Denver banks. The banking house of J. B. Wheeler City and Manitou

16. July 27, 1893 Wood County Reporter Wisconsin Rapids, WI

Article from Wood County Reporter, July 27, 1893

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DOINGS AT DENVER. Depositors Hustling Money Back Into Banks' Vaults. Denver, Col., July 20.-There will be no more bank failures in Denver. The panic wore itself out yesterday with the failure of the People's, German and State National banks. This morning when the First, Colorado, Denver, City and Amerian National opened their doors, there was hardly a dozen depositors in all of them at the paying tellers' windows. In the First and Colorado nationals a long string of depositors reaching nearly to the street were lined up in front of the receiving teller's windows and the money was going back into the bank vaults almost as rapidly as it was drawn during the past three days. The German, State and People's nationals could pay $3 for $1 if they could realize on securities. There may be a few commercial failures in the city within the next few days as a result of the suspension of banks, but it is believed that in no instance, whether a banking or com mercial house, will the failure be complete A resumption of business will follow shortly. It is stated today that the McNamara dry goods house, which failed Monday for $260,000, has settled with the principal creditors and will resume business Monday. While the situation in Denver is quieting down the effect of the local bank failures is being felt in interior towns in the state. Word was received here today that the First National bank at Canon City and the First National at Grand Junction, this state, failed to open their doors this morning. No particulars are at hand, but it is probable the failures were caused by the suspension of the Denver banks. The Flanders dry goods house, occupying five store fronts and five stories high on Sixteenth street, was attached this morning by H. N. Bradley, of Boulder, Col., for $24,000. There is no definite statement of the condition of the firm available. Competent judges place the assets at $200,000 wih liabilities at $25,000. The failure was caused by the suspension of the People's National bank to which $25,000 was due.