1.
December 17, 1925
The Times Standard
Eureka, CA
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Colo., Dec. United Denver banks the Drover's National Bank and the Broadway National Bank, closed their doors noon today and are the hands of Federal examiners. The examiners ordered the banks closed have made statement explanation. crowd several hundred stood the street in front of the Broadbank o'clock some formation concerning the condition of the institution. The Broadway National had posits of $3,000,000. according the last published statement. The Bank deposits approximately Excitement was high the Stock Yards. where the Drivers located Many passed by the bank but only to read the sign door which said the bank had been closed by the board directors and was in the hands of Federal examiners. heavy run this afternoon on the North Denver Bank, another of the Hollis banks. Between and four hundred sons were crowding about the tellers cage and in the street before closing time. had not been stopped
2.
December 17, 1925
The Hanford Sentinel
Hanford, CA
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EXAMINERS CLOSE TWO BANKS
Denver, Dec. 17. (United Press.) Two Denver banks. the Drovers National Bank and the Broadway National Bank, closed their doors at noon today and are in the hands of federal The examiners who ordered the banks closed have made no statement or crowd of several hundred stood in the street in front of the Broadway bank at o'clock waiting for some information concerning the the institution The Broadway National had deposits of over $3,000,000 according to the published statement. The Drovers had deposits approximately Excitement was high the stock yards, where the Drovers located. Many passed by the bank but paused only to read the sign on the door which said the bank had been closed by the board of directors and was in the hands of federal examiners. heavy run started this afternoon on the North Denver Bank, another of the Hollis banks. Between three and four hundred persons were crowding about the teller's cage and in the street shortly before closing time. Payments had not been stopped
3.
December 17, 1925
Progress-Bulletin
Pomona, CA
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TWO DENVER BANKS CLOSE
Federal Examiners Take Charge of Drovers and Broadway National
NO REASON GIVEN
Deposits Total 4 Million; Action Starts Big Run On Allied Institution
By United Press Leased Wire. DENVER, Colo., Dec. Denver banks, the Drovers Nationbank and the Broadway National bank, closed their doors at noon today and are in the hands of federal examiners. The examiners who ordered the banks closed have made no statement or explanation. of several hundred stood in the street in front of the Broadway bank at o'clock waiting for some information concerning the condition of the institution. The Broadway National had deposits of over $3,000,000. according to the last published statement. The Drovers National bank had deposits of approximately $1,000,000. Excitement was high at the stock yards, where the Drovers is located. Many passed by the bank but paused only to read the sign on the door which said the bank had been closed by the of was in the hands of federal examiners. heavy run started this afternoon on the North Denver bank another the Hollis banks. Between three and four hundred persons were crowding about the telIer's cage and in the street shortly before closing time. Payments had not been stopped at m.
4.
December 18, 1925
The Daily Report
Ontario, CA
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3RD DENVER BANK Rough Dip ORDERED CLOSED Bishop's 1-1b. Box Christmas Special
Frozen Cattle Paper is Cause for 2 Closings Says Bank President
DENVER, Colo.-Four banks have closed their doors in Denver within two days. The Metropolitan State bank today failed to open its doors. Yesterday the Drovers National, Broadway National and the North Denver State bank all were placed in the hands of federal and state examiners.
DENVED. Colo. With Christmas shopping at its height, three Dates-Bulk Denver banks were today in the 2 pounds 25c hands of bank examiners. The Drovers National bank and Plums-Preserves the Broadway National bank were closed at noon yesterday when It was found they could not meet their liabilities. The North Denver State bank Nutola was, closed last night at the request of the officers of the instiFirst Grade Oleo tution after a heavy run during the afternoon. Made by Armour & Co. Although no statement has been SPECIAL SATURDAY issued by Gordon Hollis, president of two of the closed banks, he replied affirmatively to questions 25c that frozen paper on cattle loans was a cause of his two banks closing.
5.
December 18, 1925
Evening Star
Washington, DC
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TWO MORE BANKS CLOSED IN DENVER Five Forced to Suspend in Two Days Due to "Frozen Assets." By the Associated Press. DENVER, Colo., December 18.Two additional Denver banks-the Capitol Hill State Bank and the Metropolitan State Bank-failed to open today. Grant McFerson, State bank commissioner, announced that examiners had taken charge of the Metropolitan and Capitol Hill Banks. Both are small institutions. Steady withdrawals from the Metropolitan during the week and a run on the Capitol Hill yesterday was instrumental in the closing, officials said. Three others-the Drovers' National Bank, the Broadway National Bank and the North Denver Bank, the latter a State institution-closed their doors yesterday. The deposits of the three banks aggregated approximately $4,400,000-the Broadway with $3,088,683, the Drovers' National, $1,100,100 and the North Denver Bank, $258,000 Blame Frozen Assets. Frozen assets in live stock loans and an impairment of capital were the reasons indicated by national bank examiners for the closing of the two national banks, while State bank examiners, who took charge of the North Denver Bank, would not make public any reason for its closing. Gordon F. Hollis is president of the two closed national banks while Mrs. Marguerite Hollis, his wife, was named president of the North Denver Bank last year, succeeding her husband, who previously had been the institution's head. Declines Any Statement. L. K. Roberts, chief national bank examiner for the tenth Federal reserve district, took the two national banks under charge and Grant R. McFerson, State bank commissioner, was in charge of the North Denver institution last night. Hopes of an early reopening of the two national banks were asserted by Mr. Hollis in a statement last night. He said that the depression in the live stock industry caused the main depreciation of the national banks' assets. Mr. Roberts declared that he was "not in a position to say what things had happened at the banks."
6.
December 18, 1925
New Britain Herald
New Britain, CT
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TWO MORE BANKS CLOSE Epidemic of Financial Disaster In Denver - Four Institutions Now Have Closed Doors. Denver. Colo., Dec. 18 (AP) -Two additional Denver banks-the Capitol Hill State bank and the Metropolitan State bank-failed to open today. Two National banks and one state bank were closed yesterday. Grant McFerson, state bank commissioner announced that examiners had taken charge of the Metropolitan and Capitol Hill banks. Both are small institutions. Steady withdrawals from the Metropolitan during the week and a run on the Capitol Hill yesterday were instrumental in the closing, officials said. The banks closed yesterday were the Broadway National, the Drovers National and the North Denver bank, the latter a state institution. These banks had deposits of about $3,500,000. The Broadway National was the largest with deposits of about $2,500,000. Impairment of capital and frozen paper in livestock loans were ascribed as the reason for the closing of the two National banks. Gordon Hollis was president of the two National banks and his wife, Mrs. M. E. Hollis, was president of the North River bank.
7.
December 18, 1925
The Bismarck Tribune
Bismarck, Mandan, ND
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McFerson announced that his department's examiners had taken charge of the Metropolitan and Capitol Hill banks. Both are small institutions. Steady withdrawals from the Metropolitan during the week, and a run on the Capitol Hill yesterday. were factors in the>closing, officials said. The banks closed yesterday were the Broadway National, the Drover's National, and the North Denver bank, the latter a state institution. These three banks had deposits of approximately $3,500,000. The Broadway National was the largest, with deposits totaling about $2,500,000. - Impairment of capital and frozen paper in livestock loans were ascribed as the reasons for the closing of the two national banks.
8.
December 18, 1925
Salt Lake Telegram
Salt Lake City, UT
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TWO DENVER CLOSED
Frozen Paper Given as Cause
DENVER, Colo., Dec. 18 (United Press.-With Christmas shopping at its height three Denver banks were today in the hands or that deposits made you be returned examiners.
The Drovers National bank and the Broadway National bank were closed at noon yeaterday, when It was found they could not meet their liabilities. The North Denver State bank was closed last night at the request of the officers of the institution after a heavy run during the afternoon. Although no statement has been Issued by Gordon Hollis, president of both the closed national banks, he replied affirmatively to questions that frozen paper on cattle loans was a cause of the two banks closing. It was announced today that all business done during the forenoon yesterday was kept separate and in full.
It was learned that L. K. Roberts, chief national bank examiner of this district, had been here for a week making an Inspection of all Denver banks. J. V. Cockins, elected president of the Central Savings Bank and Trust company, with the resignation of Hollis yesterday morning. issued a statement that this bank was not affected by the resignation of its president and that R had 40 per cent of Its assets available to pay depositors.
9.
December 18, 1925
Des Moines Tribune
Des Moines, IA
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THREE DENVER BANKS CLOSED BY EXAMINERS
Denver Dec. 18 (U Christmas shopping at its height three Denver banks were today in the hands of bank examiners The Drovers National bank and the Broadway National bank were closed at noon yesterday when it was found they could not meet their The North Denver State bank was closed last night at the request of the officers of the institution after a heavy run during the afternoon.
10.
December 18, 1925
The Californian
Salinas, CA
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THREE DENVER BANKS COMPELLED TO CLOSE
With Christmas shopping at its height three Denver banks were today in the hands of bank examiners.
The Drovers' National bank and the Broadway National bank were closed at noon yesterday when it was found they could not meet their liabilities. The North Denver State bank was closed last night at the request of the officers of the institution after a heavy run during the afternoon.
11.
December 18, 1925
Visalia Daily Times
Visalia, CA
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CLOSING OF FIVE BANKS HARD BLOW TO DENVER
All Sorts of Rumors Said to Be Afloat in Colorado City
CHRISTMAS BUSINESS IS STANDSTILL
Police Called to Preserve Order When Run Is Started on Bank
(United Press Leased Wire) Colo., Dec. local bankers and financiers were conference today to devise some means bring an end to the sitnation here that has caused the closing of five banks within two days, hundreds depositors exchanged rumors and discussed their Christmas outlook with their money tied in the closed up The series of bank closings startyesterday when the Drovers National bank. the National bank and the North Denver State closed their doors. Today the Metropolitan State and the Capitol Hill State banks failed to open. The Central Savings bank and Trust company took advantage of law making it give sixty days' notice before their savings accounts. The total amount of deposits tied in the five banks which have closed approximates The greatest excitement prevailed here today that has been seen for Business the Christmas shopping season felt sharply the financial condition. Many persons could not get their refused to spend. front of the Central Savings Trust company, where 500 perthere was much excitement and police were called to order believed that all the small banks in the city will before the day closes take advantage of the sixty day law. According the officials of all but the two national banks that closed yesterday, there is no cause alarm as the banks were placed the hands of examiners to protect depositors. many rumors were afloat throughout the morning that was impossible to check half of them. Employes offices and laborers (Continued Page Three)
12.
December 18, 1925
The Hanford Sentinel
Hanford, CA
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FIVE BANKS UNDER
CLOSING OF TWO BANKS TO RUN ON OTHERS WHICH RE. SULTS IN STATE AND
AL EXAMINERS TAKING CON-
TROL.
Denver. Dec. Press) Five banks have closed their doors in Denver within two days. The Metropolitan State Bank today failed to open its doors. Yes. terday the Drovers National, Broadway National and the North Denver State Bank all were placed in the hands of federal and state examinors. James E. Adams, president of the Metropolitan bank. said today that the bank had been turned over the state examiners at his request. The Metropolitan several weeks ago according to Adams, had deposits of $400,000 and since that time they have been reduced to about $100,000. "In view of the banking situation here and to protect the interests fo our depositors. he said, deemed it advisable to turn the bank over to state officials.' A heavy run developed this morning when the Central Savings Bank and Trust company opened its doors. was estimated that 500 persons were waiting in the street in front of the bank. Police were in charge of the crowd and only few were let into the bank at time. Rumors afloat all over town and serious situation ing with withdrawals increasing at many banks The Capitol Hill State Bank was put in the hands of state examiners shortly after opening this morning when crowd waiting to withdraw their accounts. This makes five banks with closed doors. The Capitol Hill State Bank is small suburban bank.
13.
December 18, 1925
The Oklahoma News
Oklahoma City, OK
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FIVE DENVER BANKS CLOSE
Three Yesterday and Two Today Fail to Open Doors five local banks closed and the of bank
Denver nervously the in financial circles today The Capitol State bank put the hands of this morning the State failed the Drovers the Brondway and
North banks in of federal and the blamed the that for flocked
14.
December 18, 1925
News-Pilot
San Pedro, CA
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Frozen Loans Force Closing of Three Banks in Denver
(By United Press) DENVER. Colo., Dec. Christmas shopping at its height, three Denver banks were today hands of bank examiners. The Drovers National Bank and the Broadway National Bank closed noon yesterday when found they could not meet their liabilities. The North DenState Bank closed last night the request of the offiof the institution after heavy during the afternoon. Although statement has been issued by Gordon Hollis, president of the closed banks, replied questions that frozen paper cattle loans cause his two banks closing.
15.
December 18, 1925
The Whittier News
Whittier, CA
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FIVE DENVER BANKS ARE FORCED TO CLOSE
Serious Situation Is Developing as Runs Are Started
DENVER, Colo., Dec. 18. (United Press)-Four banks have closed their doors in Denver within two days. The Metropolitan State Bank today failed to open its doors. ter the Drovers' National, Broadway National and the North Denver State bank were placed in the hands of Federal and State examiners. James R. Adams, president of the Metropolitan bank, said today that the bank had been turned over to State Examiners at his request. The Metropolitan several weeks ago, according to Adams, had deposits of $400,000 and since that time they have been reduced to about In view of the bad banking situation here and to protect the interests our depositors,' he said. "We deemed advisable to turn the bank over to State officials. A heavy run developed this morning when the Central Savings Bank and Trust Company opened its doors. It was estimated that 500 persons were waiting in the street in front of the bank. Police were in charge of the crowd and only a few were let into the bank at time. Rumors were afloat all over town and serious situation was developing with withdrawals increasing at many banks. The Capitol Hill State bank was put in the hands of state examiners shortly after opening this morning when crowd was found waiting to withdraw their accounts. This makes five banks with closed doors. The Capitol Hill State bank is a small suburban bank.
By United Press Leased Wire. DENVER, Colo., Dec. 18.-With
(Continued on Page Two)
16.
December 18, 1925
The Whittier News
Whittier, CA
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FIVE DENVER BANKS CLOSE
(Continued From Page One)
Christmas shopping at its height. three Denver banks were today in the hands of bank examiners. The Drovers National bank and the Broadway National bank were closed at noon yesterday when it was found they could not meet their liabilities. The North Denver State bank was closed last night at the request of the officers of the institution after heavy run during the afternoon. Although no statement has been issued by Gordon Hollis, president of two of the closed banks, he replied affirmatively to questions that frozen paper on cattle loans was a cause of his two banks closing.
17.
December 18, 1925
Sapulpa Herald
Sapulpa, OK
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BANKS ARE CLOSED BY EXAMINERS
Five Denver Banking House Are Ordered Closed As Christmas Rush Presses.
Colo., Dec. Christmas shopping its height. three banks were today in the hands of bank examienrs. The Drovers National bank and the Broadway National aBnk closed noon yesterday when was found they could meet their liabilities. The North Denver State Bank was closed last night the request the officers of the institution after heavy during the run Although no statement has been issued by Gordon he Hollis, president of tow of the closed banks, he plied affirmatively to questions that frozen paper on cattle loans on the closing announced today that all during the forenonnyesterday was kept separate and that deposits made will be returned full.
Colo., Dec banks have closed in Denver within two days. The Metropolitan State bank day failed open its doors Yesterday the Broadway National and the North State Banks were all placed the in hands federal and state examiners. James Adams, president of the Motropolitan said today that the bank had been turned over to examiners at his request. The Metrooplitan several weeks ago, according Adams, had posits and since that time they have been reduced to about 'In view the bad banking sit uation here and protect the interests of our depositors,' he said, deemed to turn the bank to the state officials."
18.
December 18, 1925
York News-Times
York, NE
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Three Denver Banks in Examiners' Hands
DENVER Colo., Dec. 18.-(UP) With Christmas shopping at its height, three Denver banks were today in the hands of bank examiners The Drovers National bank and the Broadway National bank were closed at noon yesterday when it was found they could not meet their liabilities. The North Denver State bank was closed last night at the request of the officers of the institution after a heavy run during the af-
Although no statement had been issued by Gordon Hollis, president of the two closed national banks, he replied to, questions that frozen loans on cattle were a cause of their closing.
19.
December 18, 1925
Daily American Republic
Poplar Bluff, MO
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FIVE DENVER BANKS CLOSED
Ey United Press DENVER. Colo., Dec. five local banks closed and in the hands of bank examiners. all Denver nervously awaited the next move in firencial circles today. The Capitol Hill State Bank was put into the kinds of receivers this afternoon after the Metropolitan State Bank failed to open its doors. Yesterday. the Drovers' National. The Broadway National and the North Denver State Banks were placed in the hands of federal and state examiners. Frozen credits and the depression in the live stock industry were jointly blamed for the closing of the Institutions whose deposits total seven millions of dollars. While the belief was expressed by officials that the banks would open for business as soon as their affairs were straightened out, the depositors about notices of closing and speculated on their chances. Police were in charge of a crowd estimated at more than 500 persons who started on the Central Savings Bank today. Only few depesitors were admitted at'a time. With Christmas shopping at its peak, depositors found themselves unable to do much buying and recalling two previous bank failures in the past two years.
By United Press
DENVER. Colo., Dec. 18.-With Christmas shopping at its height, *hree Denver banks today were in the hands of bank examiners. The National Bank and the Broadway National Bank were closed at noon yesterday when it was found they could not meet their liabilities. The North Denver State Bank was closed last night at the request of the officers of the institution after a heavy run during the afternoon. Although no statement has been issued by Gordon Hollis, president of the two closed National banks, he replied affirmatively to questions that frozen paper cattle loans were the cause of their closing. It was announced today that all business done during the forenoon yesterday was kept separate and that deposits made will be returned in full
20.
December 20, 1925
The Daily Worker
New York, Chicago, NY
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FIVE BANKS CLOSE IN DENVER WITHIN TWENTY-FOUR HOURS DENVER, Colo., Dec: 18.-The Metropolitan State Bank and the Capitol Hill State Bank closed their doors here today, bringing the number of banks to close up within 24 hours to five. The North Denver State Bank closed after examiners had taken charge of the Broadway National & Drovers' National Banks. Total deposits of $4,000,000 are involved. "Frozen" assets are given as the reasons for the closing of the banks. Depositors fearing loss of their savings have started runs on the other banks in the city.