1307. Mercantile Bank (Denver, CO)

Bank Information

Episode Type: Suspension → Closure
Bank Type: private
Start Date: July 18, 1893
Location: Denver, Colorado (39.739, -104.985)

Metadata

Model: gpt-5-mini
Short Digest: 54f8d122

Response Measures

None

Description

Contemporary reports consistently state the Mercantile Bank (a private institution) 'closed its doors at noon' July 18, 1893, caused by the failure of the Union National Bank through which it cleared. An assignee (W. F. Robinson) was named, indicating permanent closure/liquidation rather than a temporary suspension and reopening.

Events (1)

1. July 18, 1893 Suspension

Cause: Correspondent
Cause Details: Failure/closure of the Union National Bank, through which the Mercantile made clearances, triggered its suspension and failure; assignee W. F. Robinson named indicating liquidation.
Newspaper Excerpt: The Mercantile Bank, a private institution, with a capital stock of $100,000, closed its doors at noon.
Source: newspapers

Newspaper Articles (19)

1. July 18, 1893 The Evening World New York, NY

Article from The Evening World, July 18, 1893

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PANIC ON IN DENVER. Four More Banks Close Their Doors To-Day. Runs Started on All the ClearingHouse Institutions. several Kansas Banks Go Down. with One in Ada. Ohio. DENVER, Col., July 18.-The Union National Bank, of which R. W. Woodbury is President, failed to open its doors this morning. The capital is $1,000,000. No statement can be had. A run is now being made on the City National, German National, First National. Colorado National and all the Clearing-House banks. The panic is on. LATER.-The Commercial National Bank has closed its doors. A notice says: "This bank has gone into liquidation by order of the Board of Directors." The National Bank of Commerce has also closed. Ex-Gov. Job A. Cooper is President of this bank. The Mercantile Bank. a private institution with a capital stock of $100,000, closed its doors at noon. The failure was caused by the failure of the Union National Bank, through which it cleared. C. C. Girda, the City Auditor, is President. W. F. Robinson formerly Treasurer of the Republican Publishing Company. one of the oldest and most respected individuals in the State, has been made assignee. President Woodbury is of the opinion that the Union National Bank will reopen and continue business as before. It is one of the oldest banks in Denver, and has always been regarded as one of its solid ones. The failure of the Chamberlin Investment Company a few days ago affected the Union National, the Company having become indebted to the bank about $50,000. The Commercial National Bank was in bad shape. It has a capital stock of $250,000. and only had $2,000 in cash in the bank. TOLEDO, July 18.-The Citizens' Bank of Ada, O., the most prominent one in Hardin County, failed to open its doors this morning. Its owner, Peter Ahifield, has controlled it for over a quarter of a century, and is one of the wealthiest men of that section. No statement of assets and liabilities, or the cause of failure, can be obtained. FORT SCOTT, Kan. July 18.-The First National Bank, of this city, the oldest financial institution in Southeastern Kansas, has suspended payment. TOPEKA. Kan., July 18.-State Bank Examiner Breidenthal this morning received notice of the failures of the Citizens' Bank, of Kansas City, Kan., of the Bank of Richmond and of the Farmers and Merchants' Bank. at Ossawattomie. The concerns all did a small business. Statements are unobtainable. The opinion is expressed that other institutions throughout the State will soon go under. The Denver bank failures reported above are in addition to the three reported in the same city yesterday, which were as follows: People's Savings Bank: assets, $1,125,667.55; liabilities, $966,996.88 Colora do Savings Bank: assets over liabilities, $73,063.62. Rocky Mountain Dime and Savings Bank: assets, $156,803.53; liabilities. $105, 654.32. The seriousness of the situation is quite evident from the collapse of all f these institutions.

2. July 19, 1893 The Indianapolis Journal Indianapolis, IN

Article from The Indianapolis Journal, July 19, 1893

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This bank closed by order of the! board of drectors. Those inside were forced into the street with curses on their lips, while those outside raved about the doors. attracting a crowd that extended far down the thoroughfare. People began to ask when would it all end, when they learned that the Mercantile Bank. recently incorporated with a capital stock of $100,000. and located in the Mining Exchange Building, had closed its doors, with W. F. Robinson as assignee. C. E. Gard, the present city auditor. is the president of the bank, and the directors of the concern were considered as being among Denver's most substantial business men. The suspension of payment here was brought about by the closing of the Union National Bank, through which the Mercantile had made clearances. It was stated that the bank's depositors will receive every dollar due them. This bank had been in operation only a few months and had comparatively few depositors. RUNS ON THE OTHER BANKS. At the Colorado National there was no run at all. The City National officials an. nounced after the run that they had paid out about $30,000 more than what had come in., At the same hour, nearly. the run was stopped at the First National. The officials said not more than $10,000 was paid out above receipts. At the State National all those standing in line were inside the doors at o'clook. and it was estimated that $100,000 had been paid out. The run was practically broken at 2 o'clock. At the German National there Was a long line reaching far out on the sidewalk, but not a business man was seen in the line. At 2:15 the crowd was still in line. but many were tiring and droppingout. About $70.000 had been paid ent, mostly in small amounts. The run was still on at 3 P. M., the regular closing hour. A run was re. ported on the Deaver National, but 16 proved a mistake. The crowd was composed of the Union Pacific employes and others from the Grant smelter with their checks. There was no run. The City National Bank met all demands and exPresident Barth said if the depositors wanted to keep the run up for the next two months, the bank would still be meeting demands on presentation. At the Denver Savings Bank, the only savings bank now open. there was a run in the morning which was over by noon. It refused to pay out, taking advantage of the time loan limit. The excitement and demand on the banks after money continued unabated until about 2 o'clock, when it almost entirely ubaided at all the banks except the Utab State National and the German National. where the line of depositors seemed to increase instead of diminish. This bank is said to have a special train on the way from Kansas City bearing $490,000

3. 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

4. July 19, 1893 The Times Richmond, VA

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stop?" A run was Immediately started on all the other banks, though to no great extent upon the People's National The National appears to be the soundest of all, they having over 60 per cent. of their deposits on hand, with a private fund of $1,500,000 in addition to draw upon making it impossible to close their doors. The Colorado National and several others are in equally PS good condition. The mob withdrawing their money are all small depositors, the large holders being satisfied to let the accounts remain in the bank. The banks are paying all demands, except on time certificates, they demanding that these remain until the expiration of time. As every bank is crowded, the clearing house is rendering no assistance, each institution being compelled to stand upon its own foundation. The Commercial National Bank closed its doors within a few minutes after the opening, because it was apparent from the size of the crowd in front of the bank that a run was to be inaugurated. A notice was posted on the door: "Closed for liquidation by order of the directors." The bank was in bad shape. It had a capital stock of $250,000 and only had $2,000 in cash in the bank. The Mercantile Bank, a private institution, with a capital stock of $100,000. closed its doors at noon. The failure was caused by the failure of the Union National Bank, through which it cleared. C. C. Girda, the city auditor, is prestdent. W. F. Robinson, formerly treasurer of the Republic Publishing Company, one of the oldest and most respected individuals in the State, has been made assignee. The News in Washington. WASHINGTON, July 18.-The news of the Denver Bank crash caused some surprise at the Comptroller's office, for it was believed there that the worst was over, and that national banking matters would soon resume their normal condition. The gold reserve took another downward tumble to-day, from $98,059,480 yesterday, to $98,672,852. The currency balance to-day was $26,118,160, against $26,117,918 yesterday. Other Failures. FORT SCOTT. KAN., July 18.-The First National Bank of this city, the oldest financial institution in Southeastern Kansas, has suspended payment. TOLEDO, O., July 18.-The Citizens' Bank of Ada, the most prominent one in Hardin county, failed to open its doors this morning. Its owner. Peter F. Ahlfield. has controlled it over a quarter of a century, and is one of the wealthiest men in that section. What Raleigh Citizens Think. RALEIGH, N. C., July 18.-The chamber of commerce of Raleigh, at a meeting held to-night, adopted the following resolutions: Resolved That in the opinion of this chamber, national banks should be permitted to take out circulation on deposit of good State bonds and on United States bonds to their par value, and the five per cent. redemption funds should be abolished and the tax on their circulation repealed. Resolved further, That the tax on State bank notes should be repealed. Resolved. further, That upon the adoption of such legislation as will provide adequate facilities for the increase of currency, we recommend a suspension of the law authorizing the purchase of silver bullion until such time as an international or new ratio may be established between gold and silver. Silver Coinage in India. LONDON July 18.-In the House of Commons to-day, Gladstone, in replying to questions asked upon the subject, denied that there was artificial restriction of coinage of silver in India. The Austrian system. he said, was analagous to the new Indian system of coinage. The quantity of silver coined in India would not be regulated by the convenience of the Government, but by the wants of the country.

5. July 19, 1893 Richmond Dispatch Richmond, VA

Article from Richmond Dispatch, July 19, 1893

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DENVER BANK RUNS. The Withdrawers of Money, However, All Small Depositors. (B3 telegraph to the Disbatch.1 DENVER. COL., July 18.-No such scene was ever witnessed in all the West as could be seen here this morning shortly after 10 o'clock. when the banks were supposed to open their doors for business. The failure of three savings banks yesterday had affected the masses as the smell of blood would affect wolves, and at the hour of opening the streets were crowded with anxious depositors. The eleven clearinghouse banks, located within four blocks of each other. were surrounded and far into the streets the crowds gathered until officers and special police were called out 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 their doors. This started a panic, and the Commercial National posted a similar notice, and then the National Bank of Commerce; and people asked, Where will this stop?" A run was immediately started on all the other banks, though to no great extent upon the People's National. The First National appears to be the soundest of all, they having over 60 per cent. of their deposits on band, with a private fund of $1,500,000 in addition to draw upon. making it impossible to close their doors. The Colorado National and seve. ral others are in equally as good condition. The mob withdrawing their money are all small depositors. the large holders being satisfied to let their accounts remain in the banks. The banks are paying all demands except on time certificates, they demanding that these remain until the expiration of the time. As every bank 13 crowded the clearing.house is rendering no assistance, each institution being compelled to stand upon its OWB foundation. The Commercial National Bank closed its doors within a few minutes after the opening, because it was apparent from the size of the crowd in front of the bank that a run was to be inaugurated. A notice was posted on the door: 'Closed for liquidation. by order of the directors." The bank was in bad shape. It had a capital stock of $250,000. and only had $2.000 in cash in the bank. The Mercantile Bank, a private institution, with a capital stock of $100,000. closed its doors at noon. The failure was caused by the failure of the Union Na. tional Bank. through which it cleared. C. C. Girda, the City Auditor, is president. W. F. Robinson, formerly treasurer of the Republic Publishing Company, one of the oldest and most respected individuals in the State, has been made assignee.

6. July 19, 1893 The Morning News Savannah, GA

Article from The Morning News, July 19, 1893

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DENVER'S BANKS RAIDED. Small Depositors Get Scared and Rush For Their Money. Denver, Col., July 18.-No such scene was ever witnessed in all the west as could be seen here this morning shortly after 10 o'clock when the banks were supposed to open their doors for business. The failure of three savings banks yesterday had affected the masses as the smell of blood would wolves, and at the hour of opening the streets werecrowded with anxious depositors. The eleven clearing house banks, located within four blocks of each other, were surrounded, and far into the streets crowds gathered, until officers and special police were called out to clear a way for traffic. THREE CLOSED THEIR DOORS. At 10 o'clock 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 the Commercial National posted a similar notice, and then the National Bank of Commerce, and A people asked "where will this stop." run was immediately started on all the other banks, though to no great extent upon the Peoples' National. The First National appears to be the soundest of all, they having over sixty per cent of their deposits on hand, with a private fund of $1,500,000 in addition to draw upon, making it impossible to close their doors. The Colorado National and several others are in equally as good condition. ALL SMALL DEPOSITORS. The mob withdrawing their money are all small depositors, large holders being satisfied to let their accounts remain in the banks. The banks are paying all demands except on time certificates, they demanding that these remain until the expiration of the time. As every bank is crowded, the clearing house is rendering no assistance, each institution being compelled to stand upon its own foundation. TWO MORE CLOSE. The Commercial National Bank closed its doors within a few minutes after opening, because it was apparent from the size of the crowd in front of the bank that a run was to be inaugurated. A notice was posted on the door reading: "Closed for liquidation by order of the directors.' The bank was in a bad shape. It had a capital stock of $250,000, and only had $2,000 in cash in the bank The Mercantile Bank, a private institution, with a capital stock of $100,000, closed its doors at noon. Its failure was caused by the failure of the Union National Bank, through which it cleared. C.C. Girda, city auditor, is president. W. F. Robinson, formerly treasurer of the Republic Publishing Company, one of the oldest and most respected individuals in the state, has been made assignee. A SURPRISE TO THE CONTROLLER. Washington, July 18.-News of the Denver bank crash caused some surprise in the controller's office, for it was believed there that the worst was over and that national banking matters would soon resume their normal condition.

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 Providence News Providence, RI

Article from The Providence News, July 19, 1893

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THE PANIC AT DENVER. Situation Today Appears to be Slightly Improved. BUSINESS MEN STILL ANXIOUS. Four Banks and Several Other Establishments Went Down in Yesterday's CrashFailures in Kansas and Ohio-Business Troubles from Many Quarters. DENVER, July 19.-The business situa. tion here shows little hope for the better. No failures have been reported so far today, but there is a look of anxiety on the face of every business man, and no one knows where the next blow will fall. Many regard it as only the calm before the storm. The failures of yesterday have spread consternation throughout the city. The long expected panic is believed to have come at last. President Woodbury is of the opinion that the Union National bank, which suspended yesterday, will reopen and continue business as before. It is one of the oldest banks in Denver and has alway ys been regarded as one of its solid ones. The failure of the Chamberlin Invest ment company a few days ago affected the Union National, the company having become indebted to the bank about $50,000 The Commercial National bank, which was the second to fail yesterday, was in bad shape. It has a capital stock of $250,000, and only had $2,000 in cash in the bank. The failure of the Mercantile bank, 8 private institution, with a capital stock of $100,000, was caused by the failure of the Union National bank, through which it cleared. C. C. Girda, the city auditor, is president. W. F. Robinson, formerly treasurer of the Republican Publishing company, one of the oldest and most respected individuals in the State, has been made assignee. The Commercial National bank did not reopen its doors at all, preferring to avoid the inevitable run. This notice was posted "This bank has gone into liquidation by order of the board of directors." There was not much excitement. Those who stopped to read the sign chatted quietly about the prospects and all seemed confident of an ultimate settlement in full. It is believed by financiers that yester day's run will result in the people having more confidence in the strong banks; that the money withdrawn will at once be redeposited, and a better feeling be established in financial circles, which will make money easier. The suspended banks expect to resume business in a short time. The constant strain on the banks by scared depositors is what brought about the crisis. It is stated by bankers than no less than $8,000,000 has been drawn from the banks during the last three months. Of this, $3,000,000 has gone to the east in regular lines of business but there is $5, 000,000 hoarded in the city. The safety deposit vaults are full and there is reason to suppose that the homes of workingmen contain secret places in which their savings are hidden. If one. fifth of that amount was let into circula. tion, the stringency in Denver would cease.

9. July 19, 1893 Waterbury Evening Democrat Waterbury, CT

Article from Waterbury Evening Democrat, July 19, 1893

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A FINANCIAL FLUTTER Denver Still Somewhat Uneasy After the Panic. THREE BANKS EXPECT TO RESUME. They lar All For Promise to Pay Depositors to Collect Dollar. but It will Dol. Went Down. sas Banks the Dollars A String Take of Time Kan. tion DENVER. here this July 19 The financial have easy and feverish. morning was decidedly situa unbeen three expected after Nothing else the Union the National, when national Commercial yesterday panic, could National National owing to the -closed small The heavy excited depositors their doors in the private Bank institution of Commerce Mercantile demands of bank. and suspended. Mining Exchange doing business bank, owing to the close building. also made through which its of the Union before had savings banks on the day The suspension of three clearances were of that at the hour for the all had gathered opening the banks nearly munity crowds the so alarmed com the the tional, run German was the heavy. and financial City although National institutions the in banks First front At felt Na. the The It the situation. streets was unusual People's were full of people to or some two discussing extent others and run talk. there was The an much orderly crowd. however and their soon exhausted itself on and the affairs People's conservative bank excite other normal the run banks WAS condition. over by At 1 the resumed City National ment except the o'clock, and the noon. the teller crowd kept in Ger- in man front National was of all over the by window noon German, all At the the the line at lowing of the Union on the front and doors There notice was posted National after side is in bank the hands National president: The Union signed by R. w bank Woodbury, the fol. of the in $1.000,000.00 two past sets meet which liabilities our local the the of week If paid again. sents fully may no by can Doors. Bank No the than posted to at and door each began crowds for indihours though the were viduals changing the crowds the statement of variety putting a varies it. Nobody frightened and the the that deposits The did bank immercial its open doors the he inevitable d This bank has of of the board Those There was to who stopped ly the about of an in fident of the along the ing teller gold doors the he he passed out were presented of time Bythat had positors the the officers decided and cash forelock on in hand still of at the each bank "This inside board Those of directors. is of few trace the was in to many paused ny The Mercant 88 ated. with in the en located its doors closed er city Assignee n the the itor, bank president r of the directors er being among men is business pension The suspens at the by Union about the bank through nt made clearance he that the bank due dollar had ery This bank to in only operation ms comparatively at little ld The First arat a little National on on sold. lis the Think its. York fatt at the for closing It bullion It was after hour money he had bank due President H. D. Moffatt be National greatly exceeded old always withdrawal house during stated the that day the deposits of the First res and most is most in owned don exclusivesyovatively the general opinion and men business age that and and mild may way en af close continulthough against no more the panic obliged banker day or two. and is It of hay and fidence in the in the that the as hat a withdrawn will better result believed feeling will strong by financiers that banks more to of resum circles_ The which will be "Posited in he business The in short easier financial constant rbtus that ne scared the crisis depositors is what the banks been the three during the less banks than $0,000,000 L by bankers brought about Of has this be $3,000,000 regular the alt. that and the res posit suppose 000,000 contain vaults hoarded lines are of the in full, homes city, there of but The to there is &5. is the safety de months amount ve- WAS are hidden. let into If circulation places one-fifth in which of that workingment their savings

10. July 19, 1893 Evening Journal Wilmington, DE

Article from Evening Journal, July 19, 1893

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EARLY NEWS SUMMARY. Held Responsible for Deaths in the Cold Storage Fire. THE JURY RENDERS A DECISION. Director of Works Burnham, Fire Marshal Murphy. President Skinner and Secretary McDonald, of the Hercules Iron Company. That Built the Building, Found{Guilty. The coroner's jury investigating the Cold Storage fire disaster held Director of Works Burnham, Fire Marshal Murphy, President Skinner, of the Hercules Iron Company, that built the building, and Secretary McDonald, of the same com pany, responsible for the deaths. 4 Denver Bank Failures, The Union National, National Bank of Commerce, Commercial National and Mercantile banks, of Denver, failed and the McNanara dry good house and several other business houses went under owing to the financial panic there. Crusade Against Colored People. Founder Bradley, of Asbury Park, has begun a crusade against the col ored people who monopolize the seats on the beach and pavilions. A Celebrated Case Decided. Judge Acheson in the United States Circuit Court at Erie decided the cele brated case of the Stonemetz Printing Machinery Company vs. the Brown Fold ing Machinery Company in favor of the former. Paid $600,000 in Gold. The New York Sub-Treasury was debtor at the Clearing House to the extent of $669,000, and Treasurer Jorden ordered that the difference should again be paid mostly in gold. Of the total amount $600,000 was paid over in gold and the balance in currency notes. Oldest Bank in Kansas Falls. The First National Bank of Fort Scott, Kan., the oldest financial institution in Southeastern Kansas, suspended payment and the Citizens' Bank at Kan. sas City, the bank of Richmond and the Farmers' and Merchants' Bank at Ossa wattomie have also failed. Prominent Club Man a Forger. : Lloyd Aspinwall, the New York club man, is confined in Yorkville prison, N Y., in default of $5.000 bail, upon the charge of forgery. It is charged that he forged the name of William Aspinwall in indorsing a check. 1 A World's Fair Tradgedy. Miss Emma Garrett, of Philadelphis, who has charge of the Pennsylvania ex t hibit of the work of pupils in institu tions for the blind at the Fair, became 0 insane from overwork and killed herself f by jumping from the fifth story of a hotel. a Meyer, the Poisoner, Arraigned. Dr. Henry C. W. Meyer, the alleged wholesale poisoner, was arraigned be fore Judge Cowing in New York to plead to the indictment charging him with murder. At the request of Lawyer v Joseph Moss. the prisoner's counsel, the judge allowed the case to go over until Thursday.

11. July 19, 1893 St. Paul Daily Globe Saint Paul, MN

Article from St. Paul Daily Globe, July 19, 1893

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Trouble - Yesterday's Calamities. DENVER, Col., July 18.-The Union National bank, of which R. W. Woodbury is president, failed to open its doors this morning. The capital is $1,000,000. No statement can be had. A run is now being made on City National, German National, First National, Colorado National and all the eleven clearing house banks. The McNamara dry goods house, one of the largest institutions of the kind, failed this morning. The liabilities are placed at $260,000. The assets at this not known. on an time brought are by attachment The failure served was on the house at 10 o'clock this morning by the Union National bank, which failed to open its doors this morning, for $71,780, and the Colorado National bank for $20,847.74. The president of the latter bank had a private claim of $25,000, and D. Sheedy, an officer in the Denver National bank, one for $40,000. The failure was not unexpected, but it had been hoped that money would be easier and that the firm would be able to pull through. The stringency in the money market and inability to place securities or secure an extension from the banks, aided by the closing of three savings banks yesterday, was the direct cause. Had the banks which closed yesterday been able to secure cash with which to carry it over the "hard spots" the failure would not have occurred. Nearly the entire amount falls on Denver banks and commercial houses. Hyman & Co., proprietors of the Bee Hive store; McWhirter & Dipps, dealers in mantels and tiles, and Engle & Harris, dry goods, have just assigned today. No statements available, but amounts probably not large. The Mercantile bank, with a capital of $100,000, has assigned to W. F. Robinson. The Mercantile bank, a private institution, with a capital stock of $100,000, closed its doors at noon. The failure was caused by the failure of the Union National bank, through which it cleared. C.C. Mird, the city auditor, is the president. W. A. Robinson, formerly treasurer of the Republican Publishing company, one of the oldest and most prominent men in the state, has been named as assignee. DENVER, July 18.-The Commercial National bank has closed its doors. A notice says: "This bank has gone into liquidation by order of the board of directors." DENVER. Col., July 8.-The National Bank of Commerce has closed its doors. Ex-Gov. John F. Cooper is president of this bank. DENVER, July 18.-The excitement and demand upon the banks for money continued unabated till about2 o'clock when it had almost entirely subsided at all the banks except the State National and the German National, where the line of depositors seemed to increase instead of diminish. This bank is understood to have a special train on the way from Kansas City bearing $490,000, and that it will reach here early tomorrow morning. The First National bank received $170.000 at a little after 1 o'clock today. and $250,000 more at the closing hour. This came from New York. It was money due President Moffatt for bullion he had sold. Just before the close the failure of the

12. July 19, 1893 The Representative Saint Paul, Minneapolis, MN

Article from The Representative, July 19, 1893

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EXCITEMENT AT DENVER. Bank and Mercantile Failures Are Numerous. DENVER, July 19.-Three national banks, the Union National, the Commercial National and the National Bank of Commerce, closed their doors during the morning, owing to the heavy demands of excited depositors. The Mercantile bank, a small institution doing business in the Mining Exchange building, also suspended, owing to to the close of the Union Bank, through which its clearances were made. The suspension of three savings banks Monday so alarmed the community that at 10 a. m., the hour for opening the banks, crowds had gathered in front of nearly all the financial institutions. At the German and City National banks The Run Was Heavy, although the First National, the People's and one or two others felt the unusual pressure to some extent. The streets were full of people discussing the situation. It was an orderly crowd, however, and there was much sensible and conservative talk. The run on the People's bank soon exhausted itaelf and by 11 o'clock affairs had resumed their normal condition. At the City National the run was over by 1 o'clock and at the other banks, except the German, the excitement was all over by noon. At the German National the crowd kept in line in front of the teller's window all the afternoon. Mercantile Failures. In addition to the bank failures the following firms went to the wall during the day: McNamara Dry Goods company; M. S. Noah, nstallment furniture dealer; Albert Nelson, restaurant; John Mouatt Lumber company; Luther J. Wygant, tiles and grates; Evans-Littlefield Confectionary company; "The Hub," general merchandise; Hyman & Cohen, shoe dealers, and McHiver & Drip, mantels and tiles.

13. July 20, 1893 Echo De L'ouest Minneapolis, MN

Article from Echo De L'ouest, July 20, 1893

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Faillites de Banques et antres depuis quelques jours -Le Schleisinger Syndicate de Nigaumee, Mich, representant des millions de dollars de capital allemand a fait faillite. Les pertes des créanciers seront énormes. W.H. Rush et H, M. Tabor de Denver, Col., ont deposé leur bilan. Passif 650000 dollare. La Bank of Springfield, Mo, a fermée ses portes. C'est la premiè re fois qu'une banque fait faillite dans la ville. Passif 256,000 dollare. Fermée est la Bank of Garnet, Kan. Les déposants perdront énormé ment et le comté 23,000 dollare que le tréforier y avait déposés. Trois faillites de banques de New-York, celles de MM. C. H. Bunell, celle de M. H. S. Tober et enfin celle de M. W. Barrow. La Philadelphia Mutual Life Insurance Company de Harris burg, Pa., et la Keyatone Benefit Association de Beaver Falls, Pa., sont insolvables. O. E. Nettleton banquier de Deeham, Mass., a dépost son bilan. Le "Universal Order of Coope ration" de Philad-lphie va être mis entre les mains d'nn syndic. Harris Bros de New York ont suspendu leurs paiements. Passif 100,000 dollars. La N W Jersey Sheep & Wool Company de Trenton N. Y. a fermé ses portes. En faillite auesi dans le Kansas La "Bank of Balter and Double Bay de Columbus" la "City Bank" de Johnson City, et la "Book of Weir City" La Peoples Savings Bank de Denver, Col., a ferme see portee. Passif 350,000 dollare. La Rocky Mountain Dime et Dollar Bank de la même ville a suspendu ees paiements. Il en est de même de la Colorado Savings Bank. La Missouri National Bank et la Grande Avenue Bank de Kan888 City ont fait faillite. Passif 250,000 dollars. Et la liste eat loin d'être épuisée. Enfin les banques "Union National," "Commercial National," "National Bank of Commerce" et "Mercautiie Bank" de Denver, Col., ont aussi sombré. Il en est de même de la "Citizen's Bank" de Kansas City, de la "Bank of Richmond" et de la "Farmers et Merchants Bank" de Oaawatomie, Kan., ainsi que de la "First National Bank" de Fort Scott et de la "Armourdale CitiZons Bind," Kansas. On va bien sous le régime démocratique.

14. July 20, 1893 Abilene Weekly Reflector Abilene, KS

Article from Abilene Weekly Reflector, July 20, 1893

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DENVER'S DOSE. A Financial Panic Upsets Its Equilibrium. PEOPLE CLIMB OVER ONE ANOTHER. Bank Directors Scared and Notices of Suspension Posted-A Number of Business Firms Succumb to Circumstances. DENVER, Col., July 19.-The failure of three savings banks Monday had excited the masses and when the other banks of the city were opened yesterday the streets were crowded with anxious depositors. The eleven clearing house banks located within four blocks of each other were crowded and the streets were blocked until the police were called out to clear the way for traffic. At 10 o'clock the Union national, with a capital of $1,000,000, posted a notice that it would not open its doors. Following quickly Commercial national bank posted a similar notice and then the National Bank of Commerce, of which ex-Gov. Cooper is president, followed. A run was at once started on all of the other banks, though to no great extent on the People's national. The e First national appears to be the soundest of all; they have over 60 per cent. of their deposits on hand, with a private fund of $1,500,000 in addition to draw t upon, making it impossible to close its e doors. The Colorado national and seva eral others are in equally good condition. e The people withdrawing money were r all small depositors, the large holders being satisfied to let their accounts ret main At the State national bank, of which y J. D. MoNeil is president, quite a run t was in progress and a large number of h men and women were in line waiting e for their turn to come'so they could get d their money. The Mercantile bank, a private insti8 tution with $100,000 capital, closed its n doors at noon. The failure was caused p by the failure of the Union national n bank, through which it cleared. C. O e Gird, the city auditor, is the president. W. F. Robinson, formerly treasurer of 8 the Republican Printing Co., is the asa signee. t The McNamara dry goods company failed to-day. The liabilities are 8 placed at $260,000 but the assets are not known. The failure was brought about by an attachment served by the y Union National bank. e M. S. Noah, installment furniture 0 dealer, to failure to assigned as due Calvin inability C. Hill. to collect The n a dey of the asil outstanding pression bills money and market. and general his His liabilsets are placed at $35,000 e ities at $16,000, about equally divided 3. between local and eastern creditors. Albert Nelson, the well known resW taurant man of Curtiss street. made an n assignment for the benefit of his creditors to Frank Anderson. He places his assets at about $111,510 and his liabilities at about $96,725. The assets S consist of real estate valued at $107,500, and to incumbrances of $51,890, and a stock r property. subject about $55,900 and worth fixtures, of of etc. personal The liabilities consist of claims Denver 18 and eastern creditors. e The John Mouat Lumber Co. was ata tached on the claim of the German naa tional bank for $155,200. The sheriff three custodians of the come placed company's property, and in charge the Wilrp pany then made an assignment to d liam B. Palmer. No schedule was te presented. he Luther J. Wygant. tiles and grates, 1609 Court place, assigned to Robert J. t. Pitkin. Assets, $14,765.52; liabilities, 11. $14,890.43 g The Evans-Littlefield Confectionery of Co. assigned to George Smith. No 10 schedule presented. a "The Hub," conducted by Engle & 14 x Harris, general merchants, at 2201 to 2209 street assigned to George ho The assets are he a 100, Stock on Burger. as Larimer follows: placed hand, $17,500; at $18,ng store $100. st The are $4,664.31. is There two liabilities fixtures, only $500; book placed Denver accounts, at creditors. d & Cohen, the ad shoe store at "Bee Hyman Hive" are proprietors 1632 Larimer of street, assigned to Manx Hyman. No schedule is given. he McWhiter & Dripps, mantels and st tiles, at 421 Sixteenth street, assigned bs to A. G. Masker. No schedule is given. al

15. July 21, 1893 Oakes Weekly Republican Oakes, ND

Article from Oakes Weekly Republican, July 21, 1893

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BUSTED BANKS Seven Bad Fallares III Two Days at Denver. DENVER. July 18. --Commercial - circles are greatly excited over the failure of three banks in this city during the day. The banks constituting the triple failure are the Colorado Savings bank; the People's Savings bank and the Rocky Mountain Dime and Dollar Savings bank. An estimate of the total assets are $1,500,000 and liabilities are placed at nearly that amount. Charles H. Blakeney was made assignee of the Rocky Mountain Dime and Dollar Savings bank. DENVER, July 19.--Three national banks, the Union National. the Coinmercial National and the National Bank of Commerce, closed their doors during the morning, owing to the heavy demands of excited depositors. The Mercantile bank, a small institution doing business in the Mining Exchange building, also suspended, owing to to the close of the Union Bank, through which its clearances were made. Mercantile vallures. In addition to the bank failures the following firms went to the wall during the day: McNamara Dry Goods company; M. S. Noah. installment furniture dealer: Albert Nelson, restaurant; John Mouatt Lumber company; Luther J. Wygant, tiles and grates; Evans-Littlefield Confectionary company; "The Hub," general merchandise; Hyman & Cohen, shoe dealors, and McHiver & Drip, mantels and tiles.

16. July 26, 1893 The Star Reynoldsville, PA

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CASH WANTED AT DENVER. Security Plentiful, But Unsatisfactory Only a Temporary Panic. Three national banks-the Union National, the Commercial National and the National Bank of Commerce-closed their doors at Denver. Col., owing to the heavy demands of excited depositors. The clamor was mostly confined to small depositors, the larger ones expressing confidence in the banks' ability to pay in full. The Mercantile bank. a small private institution doing business in the Mining Exchange building, also suspended, owing to the close of the Union bank. through which its clearances were made. The liabilities are stated at $100,000. The suspension of three savings banks on M onday so alarmed the community that at 10 o'clock Tuesday morning, the hour for opening the banks, crowds had gathered in front of nearly all of the financial institutions. The streets were full of people discussing the situation. It was an orderly crowd, however. and there was much sensible and conservative talk.

17. July 27, 1893 The Middleburgh Post Middleburg, PA

Article from The Middleburgh Post, July 27, 1893

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# CASH WANTED AT DENVER. Security Plentiful, But Unsatisfactory Only a Temporary Panic. Three national banks-the Union National, the Commercial National and the National Bank of Commerce-closed their doors at Denver. Col., owing to the heavy demands of excited depositors. The 'clamor was mostly confined to small depos- itors, the larger ones expressing confidence in the banks' ability to pay in full. The Mercantile bank, a small private institution doing business in the Mining Exchange building, also suspended, owing to the close of the Union bank, through which its clearances were made. The liabilities are stated at $100,000. The suspension of three savings banks on Monday so alarmet the community that at 10 o'clock Tuesday morning, the hour for opening the banks, crowds had gathered in front of nearly all of the financial institu- tions. The streets were full of people dis- cussing the situation. It was an orderly crowd, however, and there was much sens- ible and conservative talk.

18. July 28, 1893 Shenandoah Herald Woodstock, VA

Article from Shenandoah Herald, July 28, 1893

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South and West. AT Denver. Col.. the People's Savings, the e Rocky Mountain Dime and Dollar and the I Colorado Savings Banks have closed their e doors. At Kansas City, Mo., the Missouri National Bank has suspended payment: also 1 the Grand Avenue Bank, a private institu: tion. The assets are $200,000; liabilities, $140,000. l FOUR people were killed and several injured in a collision between a Grand Trunk train and a horse car in Chicago, III. THE foreign exhibitors at the World's e Fair are getting ready to file claims against the National Government for damages, claims to the amount of $400,000 having already been prepared. THE First National Bank at Cedartown. Ga., closed its doors. The suspension was caused by inability to realize at once on collaterals. SECRETARY MOHLER has issued a statement saying that if the conditions continue favorable Kansas will have the largest corn crop in the State's history, with the exception of that of 1889. Miss EMMA GARRETT. of Philadelphia, who with her sister, Miss Mary 8. Garrett, had charge of the Pennsylvania blind children's exhibit at the World's Fair, committed suieide by leaping from a window at the Briggs House, THREE Denver (Col.) National banks-the Union National, the Commercial National and the National Bank of Commerce-closed their doors, owing to the heavy demands of excited depositors. The Mercantile Bank, a small private institution. also suspended, owing to the closing of the Union Bank. URUGUAY'S exhibition in the Agriculture Building, World's Fair. was thrown open to the public view, and was visited by large crowds. THE drouth, which exten led over an area of 40,000 square miles in Western Texas, has been broken by good rains. AT Denver, Col., the German, State and People's National Banks closed their doors to forestall the heavy demands that it was evident would be made. The list of closed banks in Denver is now thirteen. of which six are National, five savings and two private institutions. Two men were mortally wounded and on? instantly killed in a pitched battle between tramps and citizens near Sheffield, Ind. AT Green Bay, Wis., Rear-Admiral Melancton Smith. United States Navy, died after a two-days' illness. He was born in New York City, May 24, 1810, and entered the navy as 8 midshipman at the age of sixteen. THE Brazilian Building was dedicated at the World's Fair. THE Commissioners of Agriculture of the Southern States, in session at Atlanta, passed a resolution calling for the adoption of a uniform system of control and regulation of the manufacture and sale of commercial fertilizer. SWEDEN'S day at the World's Fair was celebrated by a big procession and a concert: Columbia's Building was opened on the same day. A NUMBER of striking miners, with their wives, attacked the strip pit miners in one of the mines near Weir City, Kan. A fierce fight ensued, in which clubs and firearms were used. About 100 shots were fired and a number on both sides were injured. No one was killed. IT is estimated that ten thousand persons in Denver, Col., and twenty thousand out. side of it have been thrown out of work by the cessation of silver mining. They are in great distress.

19. July 28, 1893 Idaho County Free Press Grangeville, ID

Article from Idaho County Free Press, July 28, 1893

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A PANIC IN DENVER. A Run on All the Banks, Over Half of Which Close. Denver, July 18.-The Union National Bank failed this morning. It has a capital of a million dollars. No statement is yet made. A run is being made on the City National, German National, First National, Colorado National and all the eleven clearing house banks. A panic is on. The Commercial National closed its doors at 11 o'clock, and the National bank of Commerce closed its doors at noon. 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. No scene was ever witnessed here before like that of this morning, shortly after the hour when the banks opened for business. The failure of three savings banks yesterday had excited the masses and at the hour of opening the streets were crowded with anxious depositors. 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 the way for traffic. At ten o'clock the Union National, with a capital of $1,000,000, posted a notice that they would not open their doors. This started the panic, and following quickly, the Commercial National posted a similar notice. Then the National Bank of Commerce followed. A run immediately started on all the other banks, although to no great extent upon the People's National. The First National appears in unexceptional condition, 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 as good. The mob that is withdrawing money are all small depositors, and the banks are paying all demands except on time certificates, demanding 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 people will come to their senses."