1288. Fidelity Savings Association (Denver, CO)

Bank Information

Episode Type
Suspension → Closure
Bank Type
state
Start Date
July 1, 1904
Location
Denver, Colorado (39.739, -104.985)

Metadata

Model
gpt-5-mini
Short Digest
6a6fab7f

Response Measures

None

Description

Articles (July 1, 1904) report the Fidelity Savings Association of Denver going into the hands of a receiver (Attorney J. C. Helm). Causes given: poor loans concentrated in Texas and Louisiana swamp timber lands and slow collections. No mention of a depositor run; receiver appointed and bank closed—permanent failure/receivership.

Events (1)
1. July 1, 1904 Receivership
Newspaper Excerpt
The Fidelity Savings association, 825 Sixteenth street, went into the hands of a receiver today. ... Attorney J. C. Helm has been made receiver. ... The failure is due to loans made in Texas and in Louisiana swamp timber lands, fully 80 per cent of the loans of the association having been made in those two states.
Source
newspapers

Newspaper Articles (6)
1. July 2, 1904 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, July 2, 1904

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Article Text

A DENVER BANK FAILS. Fidelity Savings Association in Hands of a Receiver. Denver, Colo., July 1.-The Fidelity Savings association, 825 Sixteenth street, went into the hands of a receiver today. Liabilities are placed at $1,000,000, and Atty. J. C. Helm has been made receiver. E. M. Johnson, president and manager of the institution, said tonight: "Our liabilities may be $1,000,000, but I think our assets will balance them. I do not care to go into a discussion of the question now, and must have time to investigate. I believe we will be able to straighten out our difficulties and keep our business." The directors of the institution are E. M. Johnson, E. W. Smith, A. H. Partridge, J. I. Jones, all of Denver, and M. B. Johnson of Texas. The failure is due to loans made in Texas and in Louisiana swamp timber lands, fully 80 per cent of the loans of the association having been made in those two states.

2. July 2, 1904 The San Francisco Call San Francisco, CA
Article from The San Francisco Call, July 2, 1904

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Article Text

BANKING INSTITUTION IN HANDS OF RECEIVER Fidelity Savings Association of Denver Is Embarrassed, but Directors Hope to Settle Difficulties. DENVER, July 1.-The Fidelity Savings Association, $25 Sixteenth street, went into the hands of a receiver to-day. Liabilities are placed at $1,000,000 and Attorney J. C. Helm has been made receiver. E. M. Johnson, president and manager of the institution, said to-night: "Our liabilities may be $1,000,000, but I think our assets will balance them. I do not care. to go into a discussion of the question now and must have time to investigate. I believe we will be able to straighten out our difficulties and keep our business."

3. July 5, 1904 The Stark County Democrat Canton, OH
Article from The Stark County Democrat, July 5, 1904

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WORKINGMEN Get Worst of It in Bank. Failure. Denver, Col., July 1.-The Fidelity Savings Association, doing a general banking business in this city ,closed its doors this afternoon. Attorney J C. Helm has been appointed receiver. At a late hour tonight no statement of the bank's condition could be obtained but E. M. Johnson, president and general manager, admitted that the liabilities would reach $1,000,000 and thought that the assets would also approximate that figure with judicious handling. He said he believed the bank would be able to resume business in a short time. He attributed the bank's troubles to slow collec tions. The majority of the depositors are working people who were tempted by the five per cent that the failed bank had been paying.

4. July 8, 1904 The Colfax Gazette Colfax, WA
Article from The Colfax Gazette, July 8, 1904

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OCEANS Concise Summary of the Wired News of a Week. Important Happenings and Things of Interest from All Over a Great Country. Wednesday, June 29 The prohibition party is holding national convention in Indianapolie. Gen. Quite a boom is in progress for Nelson A. Miles for president. The town of New Boston, Arkansae 25 miles south of Texarkana, has been wiped out by a tornado and several people killed. The advance guards of delegates to the national democratic convention are gathering in St. Louis. The chances favorable for a warm time among the Bourbons. Jacob H. Plain, cashier of the GermanAmerican National Bank of Aurora, III., has been arrested, charged with the misappropriation of $65,000 of the funds of the bank. Over 500 homes, business houses and schools, A short distance from Pittsburg, Pa., have been inundated by a cloud buret. One life is known to have been lost. Fire has devastated the lower half of the village of Lake Placid, N. Y., a wellknown summer resort. A rainstorm set dein and saved the town from utter struction. Thirty-nine men deported from Cripple Creek under military escort,have arrived in Denver and joined the colony of exiles already located there. This colony numbers over 200 men and they have organized a local union affiliated with the Western Federation of Miners. Thursday. June 30. The prohibition party in national con vention at Indianapolis, Ind. has nominated Silas C. Swallow of Penneylvania for president and George W. Carroll of Texas for vice president. A ealoon at Walkerville, Mont., was entered by masked men and $1000 i money and valuables secured from the proprietor and inmates. The robbers escaped. After a trip around the world, John Alexander Dowie has arrived in Chicago. Dowie will now answerin the bankruptcy court, the proceedings having been brought before his departure for Aue tralia. W.H. Maxwell, euperintendent of in atruction of New York City, has been elected president of the National Educational Association which has been in convention in St. Louis. The postmaster general has declined the request of the Louis & Clark exposi tion authorities for the issuance of special series of postage stamps com memorative of the exposition. The steel trust earnings for the June to quarter are over $18,000,000. ample cover in full the preferred dividend. Friday, July 1. Two distinct lines of operation have developed in the preliminary ekirmish ing of the democratic national convention in St. Louis. One is a scheme to rush the nomination of Judge Parker on the first and second ballot, and the other is to scatter votes 80 as to prevent of an early nomination with a view naming Cleveland or Gorman. A fierce forest fire is raging in the mountains near Tombstone, Arizona Much valuable timber and considerable mining property is being destroyed. The Fidelity Savings Association of Denver, Colo., has gone into the hands of receiver. Liabilities are placed at $1,000,000. Two prominent society and club men Minneapolis, Minn., have received fatal of injuries and five other persone were seriously injured by the explosion of gasoline launch on Lake Minnetonka, near that city. The census bureau has issued its bulletin on the negro population. There are 9,204,531 negroes in the United States, found perhaps a larger number than is in any country outside of Africa. Seven thousand one hundred minere in the employ of the various corporations have the Birmingham Ala., district in suspended work, pending the adoption of a new scale of wages. Saturday. July 2. President Roosevelt has arrived at a Oyster Bay, L. I., and was given great reception by his neighbors. Two women and a man, occupants of a automobile that crashed into an motor train in New York, are badly in jured. The women will probably die. Judge Lanning has signed a final de in the United States circuit court at cree Trenton, N. J., ordering a sale of the in United States Shipbuilding Company by foreclosure proceedings instituted the the Mercantile Trust Company and New York Security & Trust Company The two mortgages held by them are $16,000,000 and $10,000,000 respectively. Nearly 1500 employes of the Pullman Company have been laid off at the Officers Pull car shops near Chicago. of man the company declare that it is neces the to cut down expenses and that sary orders on hand do not require 80 large force. Senator J. R. Burton of Kaneas, convicted of accepting money from a com under investigation by the postpany office department, has been granted an appeal to the supreme court by Judge of St. E B. Adams of the district court Louis. Sunday. July 3. The Chicago Limited on the Wabash railroad, a half hour late and running miles per hour, was wrecked inside 50 limits of Litchfield. Ill. Twenty f the city are dead and about 40 more or less persons seriously injured. The engine ran into an open switch and struck a freight and standing on a eiding. The engine the first three coaches were piled in a heap and consumed by fire. William J. Bryan has arrived at the Jefferson hotel in St. Louis and is one of

5. December 30, 1904 The Grit-Advocate Julesburg, CO
Article from The Grit-Advocate, December 30, 1904

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COLORADO NEWS ITEMS The Durango weather bureau office em puw place III 11ª queurdinbe " seq first observation was telegraphed to the Degiver office December 21st. On December 21st, the Fort Collins sugar factory finished slicing 80,000 tons of sugar beets, after a successful -up motton shap TO uns termission The prisoners in the city jail at Puebi were given an excellent Christmas dinner and showed their breeding by a polite letter of thanks to Chief of Police Shoup. Alt A Thompson. an old resident of Denver and formerly a grocer. celebrated Christmas convivially and came jo 14310 . umop Julied Aq Threp 49 01 stairs at the Apex saloon. Color un simeanujodde postomed ON rado are: Fort Garland, Costilla county Helen C. Peters, vice Charles John. resigned; Perigo, Rio Grande county D. Cronian. vice J. Moody, repenSis Otto Mears is said to be preparing to test a track automobile on the Silverton Northern railroad between S11verton and Animas Forks, with a view of using automobiles for all passenger business hich new machine works make a specialty of manufacturing airbrakes of various patterns is to be established in Denver within the next six months. Half a block of ground has been purchased for the site in West Denver. The Uintah railroad, which has just been completed from Mack, Colorado, into the Uintah reservation in Utah, has ordered two large track automobiles to carry passengers. It has had one automobile car in service several months, giving excellent satisfaction. Owing to stress of private business Judge J. C. Helm. co-receiver with Richard M. Malone of the Fidelity Sav ings Association at Denver, has signed from the receivership and trans ferred his entire responsibility for the property of the association to Mr. Ma lone. Mrs. Ann Thomas of Erie, who was found living in apparent destitution and tried before the County Court Greeley on the charge of insanity, was declared sane by the jury and turned home. She was found to have $3,000 deposited in Boulder and Long mont banks. Mrs. J. W. Gladden shot and kille her husband at their home in Arequa Teller county, on the morning of De veniser 21st. They had been separate for several weeks and Gladden wen home drunk and violent after having assaulted Frank Harris, a neighbor Sheriff Bell placed Mrs. Gladden der arrest. George Walker, alias John Mayo, C. T. Putnam, awaiting trial on charge of horse stealing, and John Adolado, a Greek, awaiting trial on charge of stealing $600 from person with whom he was boarding. escape from the county jail at Trinidad on the evening of December 20th by tunneling under the wall. The direct and highly compliment ary reference to the Colorado Juvenil Court and Judge Lindsey's work made by President Roosevelt in his last mes sage to Congress has brought a flood of inquiries from all parts of the tion, asking for the Colorado juvenil laws, the history of the court, its cedure and results. Attorney George Morris has filed suit in Denver against the Colorado Midland railroad for $10,000. which considers the value of his vote. Mr Morris was in Glenwood Springs the

6. December 30, 1904 The Holly Chieftain Holly, CO
Article from The Holly Chieftain, December 30, 1904

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RADO NEWS ITEMS The Durango weather bureau office has its equipment all in place and the : first observation was telegraphed to the Denver office December 21st. On December 21st, the Fort Collins sugar factory finished slicing 80,000 tons of sugar beets, after a successful run of seventy-two days without intermission. The prisoners in the city jail at Pueblo were given an excellent Christmas dinner and showed their breeding JO Chief 01 thanks JO letter polltte E Aq Police Shoup. Alfred A. Thompson, an old resident of Denver and formerly a grocer, celebrated Christmas convivially and came to his death by falling down a flight of stairs at the Apex saloon. New postoffice appointments in Colorado are: Fort Garland, Costilla county, Helen C. Peters, vice Charles John, resigned; Perigo, Rio Grande county, D. Cronian, vice J. Moody, resigned. Otto Mears is said to be preparing to test a track automobile on the Silverton Northern railroad between Silverton and Animas Forks, with a view of using automobiles for all passenger business. A new machine works which will make a specialty of manufacturing air-sa be 07 sp patterns A JO brakes tablished in Denver within the next six months. Half a block of ground has been purchased for the site in West Denver. The Uintah railroad, which has just been completed from Mack, Colorado, into the Uintah reservation in Utah, has ordered two large track automobiles to carry passengers. It has had one automobile car in service several months, giving excellent satisfaction. Owing to stress of private business Judge J. C. Helm, co-receiver with Richard M. Malone of the Fidelity Savings Association at Denver, has resigned from the receivership and transferred his entire responsibility for the property of the association to Mr. Malone. Mrs. Ann Thomas of Erie, who was found living in apparent destitution and tried before the County Court at Greeley on the charge of insanity, was declared sane by the jury and returned home. She was found to have $3,000 deposited in Boulder and Longmont banks. Mrs. J. W. Gladden shot and killed her husband at their home in Arequa, Teller county, on the morning of December 21st. They had been separated for several weeks and Gladden went home drunk and violent after having assaulted Frank Harris, a neighbor. Sheriff Bell placed Mrs. Gladden under arrest. George Walker, alias John Mayo, and C. T. Putnam, awaiting trial on a charge of horse stealing, and John Adolado, a Greek, awaiting trial on a charge of stealing $600 from persons with whom he was boarding, escaped from the county jail at Trinidad on the evening of December 20th by tunneling under the wall. The direct and highly complimentary reference to the Colorado Juvenile Court and Judge Lindsey's work made by President Roosevelt in his last message to Congress has brought a flood of inquiries from all parts of the nation, asking for the Colorado juvenile laws, the history of the court, its procedure and results. Attorney George Morris has filed suit in Denver against the Colorado Midland railroad for $10,000, which he considers the value of his vote. Mr. Morris was in Glenwood Springs the day before election and a wreck on the Midland road delayed him twelve hours, so that he arrived in Denver after the polls had closed. A Boulder gentleman of prominence uo # has he that supples SB butote sp the authority of a man connected with the Moffat road that it will build a spur from Rollinsville to Nederland. The distance between the two places by wagon road is about four miles. By rail it might be necessary to build twice that distance because of the hilly nature of the country. The Anti-Saloon League, Ministerial Association and Christian Endeavor Union of Colorado Springs have decided to co-operate in the placing of a good government ticket in the field at the spring election. A committee has been appointed to report January 2nd upon the records of prominent persons, with a view to naming them as candidates. At the end of a protracted spree Patrick Brennan shot and mortally wounded Mrs. Lowney at Stockton, about three miles from Leadville, on the night of Christmas. Then he shot himself, inflicting a dangerous wound. Brennan, who is twenty-eight years of age, had been engaged to Mrs. Lowney, a widow of thirty-three with three children. Secretary E. W. Palmer of the