1287. Exchange Bank (Denver, CO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
March 20, 1883
Location
Denver, Colorado (39.739, -104.985)

Metadata

Model
gpt-5-mini
Short Digest
8fa9caf4

Response Measures

None

Description

The Exchange Bank of Denver suspended payment on 1883-03-20 and was placed in the hands of a receiver (J. M. Strickler). Articles attribute the failure to reckless lending by a former cashier that depleted capital. No run is mentioned in the articles; the bank went into receivership, so classified as suspension leading to closure.

Events (2)

1. March 20, 1883 Receivership
Newspaper Excerpt
The Exchange Bank of Denver has been placed in the hands of a receiver, J. M. Strickler, the cashier.
Source
newspapers
2. March 20, 1883 Suspension
Cause
Bank Specific Adverse Info
Cause Details
Reckless loans by former cashier S. G. Collins had absorbed much of paid-in capital, weakening the bank and leading to suspension.
Newspaper Excerpt
The Exchange Bank of Denver, A. J. Williams, president, and J. M. Strickler, cashier, suspended payment this morning. The bank has never been strong, and the failure creates little surprise.
Source
newspapers

Newspaper Articles (12)

Article from Evening Star, March 20, 1883

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Article Text

Bank Suspension in Colorado. DENVER, COL., March 20.-The Exchange bank. of Denver, A. J. Williams, president, and J. M.Strickler, cashier, suspended payment this morning. The bank has never been strong. and the failure creates little surprise. Other banks are not affected.


Article from Savannah Morning News, March 21, 1883

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Failures in Business. PITTSBURG, PA. March 20.-A dis. patch from New Brighton, Pa., says: "R. E. and H. Hoopes, private bankers at this place, suspended payment to-day No idea of the extent of their liabilities could be attained, but if is said that it will be from $60,000, to $70,000, and that the assests will not amount to over $40,000. The arm has been doing business twenty-five years." DENVER, COL., March 20.--The Exchange Bank of Denver, A. J. Williams, President, and J. M. Strickler Cashier, suspended payment this morning. The bank has never been strong, and the failure creates little surprise. No other banks will be affected.


Article from The Portland Daily Press, March 21, 1883

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Article Text

The Exchange Bank of Denver has suspended. The failure causes no surprise. Other banks are not affected.


Article from New-York Tribune, March 21, 1883

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Article Text

FAILURE OF A DENVER BANK. DENVER, Col., March 20.-The Exchange Bank of Denver has been placed in the hands of a receiver, J. M. Strickler, the cashier. The bank was incorporated January 1, 1876, with a paid-in capital of $200,000, A. J. Williams being the president. About three years ago it was discovered that the late cashier, S. G. Collins, had loaned the funds so recklessly that the greater portion of the paid-up capital had been absorbed, and at a meeting of stockholders the capital stock was reduced to $100,000. The report for February 2, 1882, showed liabilities of $261,825, exclusive of capital stock and the surplus fund of $82,544 and assets of $444,371. The New- York correspondents were the Tradesmen's National Bank and Wells, Fargo & Co. PITTSBURG, Penn., March 20.-A dispatch from NewBrighton, Penn., says: R. E. & H. Hoopes, private bankers at this place, suspended payment to-day. The failure is said to have been caused by a number of bad investments. No idea of the extent of the liabilities could be obtained to-day, but it is said they will be from $60,000 to $70,000, and that the assets will not amount to over $40,000. The firm has been doing business for twenty-five years.


Article from Omaha Daily Bee, March 21, 1883

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Article Text

Denver Bank Broken. Special Dispatch to THE BEE. DENVER. March 20.-The Exchange Bank of Denver, A. J. Williams, president, J. M. Strickler, cashier, suspended this morning. The bank never was strong, and the failure creates but little surprise. The other banks are not affected.


Article from Omaha Daily Bee, March 21, 1883

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Article Text

Denver Bank Broken. Special Dispatch to THE BEE. DENVER. March 20.-The Exchange Bank of Denver, A. J. Williams, president, J. M. Strickler, cashier, suspended this morning. The bank never was strong, and the failure creates but little surprise. The other banks are not affected.


Article from Daily Globe, March 21, 1883

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A Denver Bank Bursted. DENVER, Col., March 20.-The Exchange bank of Denver suspended this morning. The bank never was strong, and the failure creates little surprise, and other r banks are not affected.


Article from Eureka Daily Sentinel, March 21, 1883

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ex-President Diaz and party, and will probably join Secretary Folger at Fortress Monroe the latter part of next week, from which point they will no doubt proceed to Florida. Spragne Nominated for Governor. PROVIDENCE, March 20.-The Democratic State Convention this morning nominated Wm. Sprague for Governor by a rising vote, seven voting against. A committee was appointed to confer with the committee of Independents, or Sprague Convention, held last week, relative to filling the remainder of the ticket. A Difficulty Settled. NEW YORK, March 20.-The Herald gives the details of the difficulty between Washington Seligman, son of the well known banker, and Baron Blecchoroder. son of a Berlin banker, about a lady at the Purim mask ball recently. It is believed the matter has been settled, but the participants will not be interviewed. Diaz and Party in Chicago. CHICAGO, March 20.-General Diaz and party arrived in this city this morning. After a brief rest he was welcomed by Mayor Harrison, to which the ex-President replied in Spanish. The party then visited the Custom-house, Board of Trade, water works and other objects of interest. Four Yonag Rascals in Jail. AUSTIN, Tex., March 20.-Max Thompson, a young train robber, who assisted in robbing a train here a few weeks ago, was captured and jailed today. All four of the young rascals are now in jail. The youngest is 13 and the oldest only 16 years. Found Dead in Bed. GOWRIE, Iowa, March 20.-The wife of Jas. Hyland, living a few miles from this place, was found dead in bed, and there are evidences of murder from choking and kicking. She and her husband had separated, and he was arrested for the murder. Hyland accuses a neighbor named Zone of the deed. The Collapse of a Bank. DENVER, Col., March 20.-The Exchange Bank of Denver, A. J. Williams President and K. M. Strickler, Cashier, suspended this morning. The bank was never strong. The failure creates but little surprise. The other banks are not affected. A Governor Warned. ST. PETERSBURG, March 20.-The Governor of Moscow has received a letter warning him that Kremlin, where the Czar is to be crowned, will be blown up during the coronation ceremony if the Czar refuses to grant reforms. A Shooting Affair. DECATUR, Tex., March 20.-James Savage shot Jerome Shoemaker at Burlington because the former assisted in the latter's arrest. Savage also killed Sol. Ritchie, a friend of Shoemaker, who attacked Savage with a knife. Telegraph Lines to go Underground ALBANY, March 20.-The Senate passed a bill compelling telegraph and telephone companies in New York and Brooklyn to place the lines underground after March i, 1885. Capital Punishment. NASHVILLE, March 20.-A bill was passed by the Legislature to-day abolishing publie executions in Tennessee.


Article from New-York Tribune, March 21, 1883

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New-York Daily Tribune. FOUNDED BY HORACE GREELEY NEW-YORK, WEDNESDAY, MARCH 21. THE NEWS THIS MORNING. FOREIGN.-The Dean of Canterbury has received a letter containing a threat to blow up the deanery on the occasion of the enthronement of Minister The new the Archbishop. of Worship and Schools in the Duchy of Gotha has been killed by a disappointed officeNihilists seeker, who committed suicide. threaten to blow up the Kremlin on the occasion of the coronation if the Czar does not grant a Constitution. Accidents to several steamships are reA Parnellite has been declared elecported, ted to succeed John Dillon in the House of Commons. DOMESTIC.-George R. Sage has been appointed United States Judge for the Southern District of Ohio to succeed Judge White. In the Star Route trial evidence concerning the Price drafts was excluded yesterday, and the cross-examination The Democrats of General Brady was resumed. of Rhode Island completed their State ticket and exGovernor Sprague was nominated for Governor on the first ballot. The Exchange Bank of Denver, General Diaz Col., suspended payment. arrived in Chicago and was received by Mayor Harrison and a committee. The New-Jersey Senate rejected a proposition for the taxation of railroads. = The death of five persons was caused by a collision of oyster pungies in the Wicomico River, Virginia. CITY AND SUBURBAN.-Georg W. Conkling, who killed the broker Haverstick, was committed to the Tombs yesterday. A committee of the Church Temperance Society presented a number of Juhan questions to the Police Commissioners. = Hawthorne discussed "The Modern Novel" at the Nineteenth Century Club. Farmers complained that they were prevented from sending The fifty-third commencemilk to the city. ment of the College of Pharmacy was held.= Wall Street was excited over the talk of a duel between Baron Bleichroeder and Washington Seligman. Gold value of the legal-tender silver dollar (41212 grains), 83.79 cents. Stocks were dull and lower, and closed weak. THE WEATHER.-TRIBUNE local observations indicate cloudy and slightly warmer weather. Temperature yesterday Highest, 51°; lowest, 20°; average, 29%go.


Article from The Salt Lake Herald, March 21, 1883

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Business Failures. Denver. Col., 20.-The Exchange Bank of Denver, A. J. Williams, presidont, and K. M. Strickler, cashier, suspended this morning. The bank was never strong. The failure creates little surprise. Other banks are not affected.


Article from The Weekly Democratic Statesman, March 22, 1883

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BANK SUSPENDED. DENVER, March 20.-The Exchange Bank of Denver suspended this morning. The bank was never strong, and the failure creates little surprise. Other banks are not affected.


Article from Savannah Morning News, March 27, 1883

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SOUTHERN FAILURES. Trade Embarrassments During the Past Week. There were 196 failures in the United States reported to Bradstreet's during the past week, 37 less than the previous week, 78 more than the corresponding week of 1882, and 63 more than the same week of 1881. The Southern States had 37, a decrease of 20. The important failures were James F. Pendergast, ship broker; Schloss & Heilbronner, wholesale cloths, and Moritz Wetzlar, importer of leather, New York city; R. E. & H. Hoopes, bankers, New Brighton, Pa.; the Exchange Bank of Denver: Camp, Morrill & Camp, dry goods, Jackson, Mich. Those reported from South Carolina and Georgia were as follows: SOUTH CAROLINA.-Yorkville: J. J. Smith & Co., dry goods, have assigned. Liabilities, $4,000; nominal assets $7,000. GEORGIA.-Columbus: R. R. "Ridenhour, general store, has assigned. Savannah: Application has been made for the appointment of a trustee for the estate of Daniel H. Wilcox, of Wilcox, Gibbs & Co., fertilizers. The application was made by George A. Wilcox, on the ground of insolvency at New Haven, Conn., and a hearing is set down for the 26th inst. In January last Mr. Wilcox gave a realty mortgage for $55,000 and Wilcox, Gibbs & Co. for $70,974, then believed to have been done to debar the claim of Babcock & Co., of Liverpool, who sued them on a claim for $60,000. Smyrna: W. W. Pace, notions, has been closed by the Sheriff. He had a branch at Mableton.