1319. Peoples National Bank (Denver, CO)

View Charter #4084 on SPMC

Bank Information

Episode Type
Run → Suspension → Reopening
Bank Type
national
Bank ID
4084
Charter Number
4084
Start Date
May 24, 1893
Location
Denver, Colorado (39.739, -104.985)

Metadata

Model
gpt-5-mini
Short Digest
256aca23

Response Measures

Full suspension, Books examined

Other: Reopening enabled by certificate-of-deposit plan approved by Comptroller; directors proposed assuming savings-bank liabilities.

Description

Depositors ran on the People's/Peoples National Bank during widespread Denver panic in July 1893 (also an earlier smaller run reported May 24). The bank suspended (closed by board) July 19, 1893 and reopened under comptroller requirements Aug 21–22, 1893. Causes: initial May run driven by rumors/uneasiness; July run triggered by failures/closures of other local banks (panic contagion).

Events (4)
1. May 24, 1893 Run
Cause
Rumor Or Misinformation
Cause Details
General financial depression and circulating rumors of weakness about the People's Bank prompted heavy withdrawals.
Measures
Officials (President Muir) advised calm and reassured depositors that all would be paid in full; bank continued to pay out.
Newspaper Excerpt
Rumors have been current for some days of weakness of the People's Bank and the savings bank, which culminated this morning in a heavy run by the depositors upon both these institutions.
Source
newspapers
2. July 18, 1893 Run
Cause
Local Banks
Cause Details
Panic triggered by the failure/closure notices of other Denver banks (three savings banks, Union National, Commercial National, etc.), producing heavy depositor withdrawals across the clearing house, including on People's National.
Measures
Banks paid depositors where possible; some demanded time certificates remain until maturity.
Newspaper Excerpt
The failure of three savings banks yesterday had excited the masses... At 10 o'clock the Union National... posted notice that they would not open the doors. This started a panic... A run was immediately started on all the other banks, though to no great extent on the People's National.
Source
newspapers
3. July 19, 1893 Suspension
Cause
Local Banks
Cause Details
Unable to procure ready cash amid the citywide panic and heavy withdrawals following other banks' failures/closures; notice posted by board of directors closed bank temporarily (lack of cash).
Newspaper Excerpt
The long-expected closing of the People's National Bank came about 11 o'clock when a notice was posted on the doors stating that the stringency of the money market was so severe that it was impossible for the concern to longer withstand the storm.
Source
newspapers
4. August 21, 1893 Reopening
Newspaper Excerpt
The Union and People's National banks... which suspended on July 18 and 19 respectively, opened their doors for business this morning, they having complied with all the requirements of the Controller of the Currency. The three banks that have now opened their doors have been enabled to resume business by the certificate of deposit plan.
Source
newspapers

Newspaper Articles (23)
1. May 25, 1893 New-York Tribune New York, NY
Article from New-York Tribune, May 25, 1893

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A RUN ON DENVER BANKS. Denver, May 24.-The general financial depression is not seriously felt in this city. Rumors have been current for some days of weakness of the People's Bank and the savings bank. which eulminated this morning in a heavy run by the depositors upon both these institutions. The tellers have been kept busy all day paying out. and at night depositors are still In line pressing forward for their money. The officials of the banks say they will be able to withstand the onslaught. President Muir. of the People's National Bank, advises calmness, and tells the depositors that all will be paid in full. The stock of the bank has been quoted at 115 to 120. There is some uneastness in other quarters, and 11 is likely runs will be made on other banks. although everything is quiet at present. except the run above noted.

2. July 18, 1893 Deseret Evening News Salt Lake City, UT
Article from Deseret Evening News, July 18, 1893

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THE PANIC IN DENVER People Needlessly Excited - The Banks Paying the Depositors. DENVER, Col., July 18.-No scene was ever witnessed here before like that this morning shortly after the hour when the banks opened for busi. ness. The failure of three savings banks yesterday had excited the missses, and at the hour of opening, the streets were crowded with anxious depositore. Eleven clearing house banks, located within four blocks O each other, were surrounded and far into the streets the crowd gathered till the police was called on to clear the way for traffic. At 10 o'clock the Union National, with is capital of a million dollars. posted notice that they would not open the doors. This started a panic and following quickly the Commercial National posted a similar notice. Then the National Bank of Commerce. A run was immediately started on all the other banks, though to 110 great extent on the People's National. The First National appears to have been in an unexceptionable condition, having overeixty per cent of the deposits on hand with a private fund of is million and a half in addi.

3. July 19, 1893 The Salt Lake Herald Salt Lake City, UT
Article from The Salt Lake Herald, July 19, 1893

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

4. July 20, 1893 Daily Kennebec Journal Augusta, ME
Article from Daily Kennebec Journal, July 20, 1893

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THE RUN BROKEN. Denver Bankers and Business Men Breathe Easier. Financial Sorrow Still Overtakes Concerns in Other Cities. Failures Reported Wednesday from Beston to the Pacific Coast. DENVER. Col., July 19.-The long-expected closing of the People's National Bank came about 11 o'clock when a notice was posted on the doors stating that the stringency of the money market was so severe that it was impossible for the concern to longer withstand the storm. The statement published the 12th showed that they had less than $60,000 cash on hand and the individual deposits subject to check, not counting any other, amounted to $210,000. The capital stock is $600,000. Later in the day, Tucker & Co., dealers in gentlemen's furnishing good. and the Peoples' Coal Co., assigned. This afternoon the run at the Denver National Bank was over, with an enormous amount of money still in sight. The same was true at the City and all other banks. Business men are beginning to breathe easier.

5. July 20, 1893 The Morning News Savannah, GA
Article from The Morning News, July 20, 1893

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DENVER'S CRAZY PANIC. Banks Worth Three Times What They Owe Forced to Close. Denver, July 19.-The panic was on in this city to-day with renewed vigor and as a result the old German National, with a reputation for stability of 20 years standing, and the equally reputable State National failed to open their doors for business this morning. Later the People's National failed. All night long depositors stood in the line in front of the German, and by 9 o'clock there was one long sea of faces stretching down the street. On the opposite corner, where the State Bank has so long done business, there was also quite a crowd of anxious depositors waiting for the opening of the doors. Here the people were relieved of their agony at a few minutes after 9 o'clock. when notice was posted to the offect that the bank would not open, owing to a lack of ready cash, and the crowd moved away. THE GEPMAN FAILS TO OPEN. At the German there was evidently a determination to go ahead with business up to almost the last moment, when a slip of paper was pasted on a window stating that the doors would remain closed temporarily. Then the scene became distressing. Men and women down the long line broke out in tears and wailing. By this time there was a run on every bank in the city, and soon came the announcement that the People's National bank had closed its doors. A notice on its doors read: "This bank is closed by order of the board of directors. The assets are $1,100,000, and the liabilities $310,000. THE OTHER BANKS CLSO SOLID. The assets and liabilities of the other two failed banks bear about the same proportion as the People's bank. Their failure is chargeable to a long continued drain by depositors and inability to raise ready cash. All expect to resume shortly. Frank Adams, bank examiner, to-day took charge of the Union National, Commercial National, National Bank of Commerco, State National and German National. This afternoon the run at the Denver National, was over, with an enormous amount of money still in sight. The same is true at the City and all the other banks and business men are beginning to breathe freer. There has been a considerable number of failures among business houses of all kinds within the last few days, caused by attachments taken out by banks who foresaw their suspension. Five national banks are still open. OTHER FAILURES. Among the failures that almost escaped notice was that of the Bank of North Denver yesterday afternoon. The business firms whose embarrassments became known range from liquor saloons to street railroads. There are in the list drug stores, lumber companies, gentlemen's furnishers, milliners, coal companies, dry goods houses, jewelers, ready-made clothing dealers, tailors and grocers. Two bank failues are reported at Aspen and one at Loveland. Commercial failures are also reported from many points in the state outside of Denver, due principally to the fact that the sufferers deposited in the Denver banks which have suspended. TWO CLOSE AT GREELEY. Greeley, Col., July 19.-The Union Bank closed its doors at p. m. to-day and a half hour later the Greeley National pulled down its blinds and turned the key in its door. The Union's statement says that owing to the suspension of certain Denver national banks which had on deposit several thousand dollars of its money, and the steady withdrawal of deposits, amounting to about $80,000 in the past ninety days, they were compelled to suspend business. They say their liabilities are about $100,000, with assets and paid up capital at $300,000. As soon as the fact of the suspension of these banks became known a steady run was made on the First National, but it continued to honor all checks and drafts, and even after the regular closing hour cashed two checks presented.

6. July 20, 1893 San Antonio Daily Light San Antonio, TX
Article from San Antonio Daily Light, July 20, 1893

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

7. July 20, 1893 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, July 20, 1893

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STILL EXCITED. The Panic at Denver Rages Unabated. Three More of Her National Banks, German, State and Peoples National, Close Their Doors-Runs on Others. Crowds of Disappointed People on the Streets-Police Are Keeping Order. DENVER, July 20. -The financial excitement continues. The State National bank will not open its doors for a few days. A notice is posted on the door to the effect that owing to the inability to procure funds to meet demands which might be made upon the bank it will temporarily close. The bank's officers say that depositors will not lose a cent and that the bank will resume business in a few days. The German National bank threw up the sponge at 10 o'clock, the usual opening hour. A card was placed on the door which read: "Closed by order of the directors." There is a great crowd of disappointed people on the streets. but the police are preserving order. The First National bank opened on time and is now busy paying off all demands being made upon it. There is a small line of depositors at the Colorado National asking for and receiving their money. The Situation Reviewed. The run on the First National bank is about exhausted, and the institution remains firm. The banks that closed earlier in the week are still closed, including the Capital and the North Den- The ver banks, two private concerns. Union National is in charge of Frank Adams, the bank examiner. President Woodbury is hopeful of resuming business in a few days. President Reithman of the German National, is greatly to disappointed at the failure of aid arrive. He says that while the assets of the the bank are greatly in excess of liabilities it was necessarily compelled to suspend because of lack of available to supply is serene about the City of the German are of German funds depositors thing The majority depositors. seemed National's birth National. to Every- and tell their saddened faces has plainly of the disappointment that the come upon them. In the vicinity of banks at Sixteenth and Larimer streets there is a tremendous rush of people to and the police have all they can do keep the crowds moving. Paid Out Millions. Presdent McNeil of the State National out that his bank has paid a trifle more than the last 20 days. He efforts to within in almost bank, cash says superhuman bank gather exercised $900,000 should in loans in order that the in his not be closed. but his efforts were vain. In an interview he said: Please me that our assets today are fully twice for as large as our liabilities." Cashier C. M. Clinton of the German exceedNational bank stated that the ingly hard times and inability to place to securities, together with the failure close call in loans had forced them to their doors. During the last 60 days the there has been a constant drain on bank and over $1,000,000 had been paid depositors. Some days the demand that the to all the way from $25,000 to $75,000. would from Eastern but it failed to had paid out all receive $300,000, It was was they anticipated materialize friends their bank the money doors. about and as was left but to close is The nothing capital of the German National $500,000. Its officers expect to resume as soon asits affairs are adjusted. Third For the Day. DENVER. Colo., July 20.-The Peoples National bank closed its doors shortly as 11 o'clock. The notice reads order follows: before "This bank is closed by assets, of the board of directors. Net $1,100,000; liabilities, $310,000." The Tucker Mens Furnishing com- Liahave made an assignment. East. As pany bilities $8,000, mostly in the sets not given. Coal Company Assigns. July -The Phonles Coal

8. July 20, 1893 The Waco Evening News Waco, TX
Article from The Waco Evening News, July 20, 1893

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FAILURE OF DENVER BANKS. The Panic is Ended and no More Failures Expected. By Associated Press to the News. DENVER, July 30.-There will apparently be no more bank failures in Denver. The panic wore itself out yesterday with the failure of the People's, the German and the State National banks. This morning when the First, Colorado, Denver City and American National banks opened their doors there was hardly a dozen depositors in all of them at the paying tellers' windows. In the First and Colorado National banks a long string of depositors, reaching nearly to the street, were lined up in front of the receiving tellers' windows, and money was going back into bank vaults almost as rapidly as it was withdrawn du ring the last three days. The German, State and People's National banks could pay three dollars for one if they could realize on securities. There may be a few commercial failures in the city within the next few days as the result of the suspension of the banks, but it is believed that in no instance, whether a banking or commercial house, will the failure be complete and the re. sumption of business will surely fol!ow shortly. It is stated today that the MeNamars dry goods house, which failed Monday for $260,000 have settled with their principle creditors and will resume business Monday.

9. July 21, 1893 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, July 21, 1893

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

10. July 21, 1893 The Kinsley Graphic Kinsley, KS
Article from The Kinsley Graphic, July 21, 1893

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STRUCK DENVER. The Financial Tornado Strikes the Mount. ain City. DENVER, Col., July 19.-The failure of three savings banks Monday hac 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 the 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 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 upon, making it impossible to close its doors. The Colorado national and several others are in equally good condition. The people withdrawing money were all small depositors, the large holders being satisfied to let their accounts remain.

11. July 21, 1893 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, July 21, 1893

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Another Dry Goods Failure. DENVER, July 21.-The - Flanders Dry Goods company has been attached for $25,000, and in consequence has been compelled to make an assignment. Assets are estimated at $200,000 and liabilities at $120,000. The failure was caused by the suspension of the Peoples National bank.

12. July 21, 1893 Fort Worth Gazette Fort Worth, TX
Article from Fort Worth Gazette, July 21, 1893

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BUSINESS. DENVER, Colo., July 20.-There will reparently be no more bank failures in Denver, The panic wore itself out yesterday with the failure of the Peoples', German and State National banks. This morning when the First Colorado, Denver City and American National banks opened their doors there was hardly a dozen depositors in all of them at the paying tellers' windows. The First and Colorado Nationals a long string of depositors reaching nearly to the street were lined up in front of the receiving tellers' windows, and money was given back to the bank almost as rapidly as It was withdrawn during the past three days. The German, State and Peoples' Nationals could pay three for one, if they could realize on securities. There may be a few commercial failures in the city within the next few days as a result of the suspension of the banks, but it is believed in no instarce, whether banking or commercial house, will the failure be complete, and a resumption of business will surely follow short! It is stated to-day that McNamara's dry goods house, which failed Monday for $20,000 has settled with their principal creditors and will resume business Monday. In speaking of the financial condition in Denver to-day, D. H. Moffatt, president of the First National bank, sald: "Five National banks are absolutely all right and perfectly able to pay every dollar of their deposits and still continue business. The only person who will have trouble from this time on are those who caused their money to be locked up in suspended banks. The trouble, as far ILS banks are concerned. is over. " was bound to come, and I am glad It is ended, as confidance will now begin to restore itself and times grow better in Colorado."

13. July 24, 1893 The Portland Daily Press Portland, ME
Article from The Portland Daily Press, July 24, 1893

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Bank Troubles Since January 1. 1 WASHINGTON, July 22.-Since Jan. nearly 200 national banks have closed their doors, against less than 50 during the same period last year. Of the failures this year five have been United States depositories, as follows: The First national bank of Little Rock, the Gate City national 1 ank of Atlanta, the People's national bank of Denver, the German national bank of Denver, the Kentucky national bank of Louisville. The latter bank which closed its doors today had by the last report received $330,000 of United States funds. The government, however, will not lose anything by these failures, as each national bank that is a government depository has to deposit United States bonds to the amount of government money it is allowed to carry. These bonds, in case of failure, are sold for the account the government and as United States bonds are at a premium in the financial market there is never any difficulty in realizing. Saturday's Bank Failures. LOUISVILLE, July 22. - -The Kentucky National Bank of this city closed its doors this morning. The capital stock is $1,000,000 paid up. This bank is a government depository, and its last statement showed $190,000 to the credit of the government. The loans and discounts outstanding amounted to $1,719,966 and the surplus was $108,500. KNOXVILLE, July 22.-The - State National bank closed this morning. The notice posted on the door says: "This bank has closed for liquidation. Depositors will be paid in full." Liabilities and assets are not known. MILWAUKEE, July 22.-The Milwaukee National bank and South Side Savings bank failed to open their doors this morning. Runs were made on all the leading banks in the city. Cleveland Counts Up. NEW YORK, July 25.-The - Bond Buyer today prints the following: "Just as we go to press we learn that President Cleveland has had made by one of the most

14. July 24, 1893 Wheeling Register Wheeling, WV
Article from Wheeling Register, July 24, 1893

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TWO HUNDRED NATIONAL BANKS Have Closed Since January 1-Bank Failures Yesterday-Examin Assigned. WASHINGTON, D. C., July 22.-Since the first of January nearly two hundred National banks have closed their doors, against less than fifty-during the same period last year. Of the failures this year five have been United States depositories, as follows: The First National Bank, of Little Rocd, Arkansas: the Gate City National Bank, of Atlanta, Ge: the Peoples' National Bank, of Denver, Col.; German National Bank, of Denver, Col.; the Kentucky National Bank. of Doulsville, Ky. This latter bank. which closed its doors to-day, had by the last report received $330,000 of United States funds. The Government, however, will not lose anything by these failures, as each National bank that is a government depository has to deposit United States bonds to the amount of government money it is allowed to carry. These bonds, in case of the failure of the bank are sold for the account of the government, and as United States bonds are at a premium in the financial market, there is never any difficulty in realizing. This afternoon Comptroller Eckels ordered bank examiners to take charge of the failed banks as follows: Escott, at Loufsville, Ky.: Plumler, at Knoxville, T6 Sawyer, at Russell, Kansas; Russell, Vernon, Kansas; Vernon, Milwaukee, Wis.

15. July 27, 1893 The Austin Weekly Statesman Austin, TX
Article from The Austin Weekly Statesman, July 27, 1893

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FINANCIAL DISTURBANC BAD STATE OF AFFAIRS AFFECTI ALL PARTS OF COLORADO. Thirty Thousand Men Thrown Out of ployment by Shutting Down of Mines Smelters and Dependent Institutions. Numerous Business Failures. DENVER, July 20.-There will parently be no more bank failures Denver. The panic wore itself yesterday with the failure of Peoples, German and State Nation banks. This morning when the Colorado, Denver City and Americ National banks opened their there were hardly a dozen deposite in all of them at the paying celle windows. In the First and Colora National banks long strings of itors reaching nearly to the street lined up in front of the receivi 0 window and money was back into the bank vault almost rapidly as it was withdrawn the past three days. The Germa State and Peoples Nationals could three for one if they could realize securities. There may be a few commerc failures in the city within the next days as a result of the suspension bauks. but it is believed that in no stance, whether banking or cial houses. will the failure be plete and resumption of busin SS surely follow shortly. It is stated day that the McNamara dry house which failed Monday for 000 have settled with their princi Monday. creditors and will resume busin UNEMPLOYED LABOR DENVER, Colo., July 20,-The

16. August 2, 1893 The Abbeville Press and Banner Abbeville, SC
Article from The Abbeville Press and Banner, August 2, 1893

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LATER NEWS. A DINNER was given in honor of James H. Eckels, Controller of the Currency, at the Union League Club, New York City. THE corner stone of the Odd Fellows' Temple, which will cost $1,000,000, was laid at Philadelphia, Penn., with impressive ceremonies. MISS EMMA GABRETT, of Philadelphia, who with her sister, Miss Mary S. Garrett, had charge of the Pennsylvania blind children's exhibit at the World's Fair, committed suicide 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. IT was reported that the warship Mohican was disabled on June 25 by a shot from the seal-poaching steamer Alexandria passing through her machinery; the story was discredited in Washington. THE Navy Department formally accepted the cruiser Detroit and authorized the payment to the builders of reserved funds amounting to about $225,000. IN the court-martial of the officers of the Victoria, at Valetta, Malta, Flag-Lieutenant Gilltord and Staff-Commander HawkinsSmith-testified that Vice-Admiral Tryon said immediately after the Camperdown struck the Victoria, "It was all my fault." BRIGANDS raided the village of Lipkaey, Bukowina. The villagers killed five of them and wounded several more. The villagers were finally routed and the place looted. PRESIDENT CLEVELAND returned to Gray Gables, Buzzard's Bay, Mass., from his fishing trip; he said that his health was splendid and that his rheumatic trouble had left him. FIRE on the dairy farm near Carteret, N. J., occupied by Thomas Stugg destroyed buildings covering seven acres, and caused a loss of about $30,000. THE drouth, which extended 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 one 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 a midshipman at the age of sixteen. THE Brazilian Building was dedicated at the World's Fair. THE manufacture of the new army rifle (the Krag-Jorgensen) is being pressed vigorously, and a large number of special cutters and sharpers have already been procured. It is believed that the first lot of completed arms will be ready for delivery and issue to the service about September 1. FRANCE sent an ultimatum to Siam giving her forty-eight hours in which to comply with her demands. REAR ADMIRAL MARKHAM, in his testimony before the Malta court martial, said that Sir George Tryon's command was impossible to follow with safety.

17. August 9, 1893 Barbour County Index Medicine Lodge, KS
Article from Barbour County Index, August 9, 1893

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POINTS FOR THE PEOPLE. -Sects and creeds cut no figure in the battle for human rights. One Father McGlynn is worth more to humanity's cause than a regiment of Henry Ward Beechers. -Which would you prefer to have, a clearing house certificate or a green back issued by the government? Yet the latter has been branded by the national bankers as fiat money-Tacoma Sun. -If silver has no claim as a money metal because it is a product of the earth, gold loses its claim on the same ground. All the people ask is that the two metals shall be treated alike by our government.-Journal of Agriculture. -England had rather rule this country financially and commercially, by manipulating our legislation, than to conquer it by the arts of war. It serves her purpose as well, and is more healthful and less expensive.-Journal of Agriculture. -The present panic was deliberately planned and executed to bluff congress into the demonetization of silver, the purpose being to enhance the value of the securities held by the panic makers, by making them payable in gold val ues.-Journal of Agriculture. -Franklin was without doubt the all round wisest man this continenti ever produced, and he declared at that early day in favor of paper money, pure legal tenders, after a trial of the principle in the colony of Pennsylvanie from 1722 to 1762-National Watch man. 'Whatever a government agrees to receive in payment of the public dues, as a medium of circulation, is money, no matter what its form may be; treasury notes, drafts, etc. Such bills or paper, issued under authority of the United States, are money. ."-Henry Clay in the Senate, 1887. -The populist cause is sure to triumph. There is a moral wave sweeping over the country and by that wave one or both of the old parties will be lashed to pieces. The new issues are coming to the front and they will never down till they are settled and settled right.-Alliance Independent -In 1892 the production of silver was 58,000,000 ounces, of which the government bought 54,129,727 ounces, putting into circulation therefor $47,394,291 in treasury notes. Free coinage of the American product would have put into circulation $19,595,609 more money, after deducting silver used in the arts. This is $88,974,927 less than the gold lost by export during the year. -When we get a postal note or P. O. money order we know to an absolute certainty that it is as good as the cash itself, but when .we get a bank draft we look to see what bank drew the draft and upon what bank it was drawn and then look at the list of fallures. The Nebraska people's party boys were right when they took the lead for government banks.-Missouri World. -Since January 1 nearly two hun dred national banks have closed their doors, against less than fifty during the same period last year. Of the fall. ures this year five have been United States depositories, as follows: The First national bank, of Little Rook, Ark.: the Gate City national bank, of Atlanta, Ga.; the People's national bank, of Denver, Col.: the German national bank, of Denver, Col., and the Kentucky national bank, of Louisville. -Chicago has a new illustrated weekly devoted to the free coinage of silver. Its energies had better be expended in explaining the money function and the uselessness and waste of all the labor in digging and dying for some yellow and white minerals. The same labor expended in creating food, clothing, shelter, instruction and amusement would happify untold millions. The people can create all the money they want and print it on paper that didn't have to be mined at such lbor.-Coming Nation. -The industrial millions demand justice. Through special privileges and class legislation they have been defrauded. Throughallowing politicians and interested newspapers to do their thinking, they have permitted themselves to be well nigh enslaved. Their hope now lies in independent thinking. and in political unity of action. The first thing to be done is to abolish all class legislation, and to demand the government ownership of natural "monopolies,' as well as an expansion of the volume of currency, which will tend to relieve congested business conditions, and enable the slaves of the gold barons at least to live after paying their interest.-B. O. Flower. d -Superintendent-"You want a job driving one of our street sprinklers, eh? Ever had any experience?" Applicant-"No, but-" 'But what?" "Everybody tells me I'm so blind I can't see a street crossing ten feet away and-" "That'll do. Come 'round in the morning and take out the biggest sprinkler we own." - Buffalo Courier -Five-year-old Frances had been spending an afternoon with a little friend. When she returned home she found another little friend there who hadcometovisither "Etheldoesn'tlove you," said Frances to the second little to one the calling girl, referring upon. 'Why the not?" she asked had been visitor, somewhat surprised. "Tause she doesn't know you,' explained

18. August 22, 1893 Rock Island Daily Argus Rock Island, IL
Article from Rock Island Daily Argus, August 22, 1893

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Signs of the Times. CHICAGO, Aug. -- Among the indications of the existing condition in financial affairs are the following facts: At Denver-The Peoples' National and Union National, two of the suspended banks, have opened their doors for business. At Pittsburg-Seven large industrial establishment have resumed in part or wholly, giving employment to several thousand men. At Springfield, Ills.-The rolling mills which have been idle for several weeks hava resumed operations. At Chicago-Armour & Co. have received $500,000 in gold from Europe and will obtain $500,000 more in a few days. Attica, Ind.-The Citizen's National bank will reopen its doors in a few weeks. Over 1,000 'longshorement have struck on the Mallory, Ward and Clyde lines at New York against a reduction of 5 cents an hour in their wages. At New York-A thousand men, women, and children were fed by a saloonkeeper at East Broadway and Division street. At Denv r-One hundred men employed on the sewers of the city have struck be-

19. August 22, 1893 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, August 22, 1893

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More Denver Banks Resume. DENVER, Aug. 22. -The Union and Peoples National bank which suspended on June 18 and 19 respectively, opened their doors for business at the regular hour. they having complied with all the requirements of the comptroller of the currency.

20. August 22, 1893 New-York Tribune New York, NY
Article from New-York Tribune, August 22, 1893

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COLORADO BANKS REOPEN THEIR DOORS. Denver, Aug. 21.-The Union and People's National banks, which suspended on July 18 and 19 respectively, opened their doors for business this morning, they having complied with all the requirements of the Controller of the Currency. It is expected that the other three suspended National banks will resume within a short time. The three banks that have now opened their doors have been enabled to resume business by the certificate of deposit plan. These certificates have been issued in small amounts and they are passing among local business houses as cash. Each bank takes its own certificates for accounts due It. The result has been a material relieving of the financial stringency.

21. August 23, 1893 Richmond Dispatch Richmond, VA
Article from Richmond Dispatch, August 23, 1893

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Denver Banks Resume. DENVER, Aug. 23. - The Union and Peoples' national banks, which suspended on July 18 and 19, respectively, opened their doors for business at the regular hour yesterday. they having complied with all the requirements of the controller of the currency. The result has been a very material relieving of the financial stringency.

22. August 26, 1893 The Meeker Herald Meeker, CO
Article from The Meeker Herald, August 26, 1893

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Three of the suspended national banks of Denver have resumed business again. They are-the National Bank of Commerce, the People's national and the Union national. The Central national of Pueblo, the Greeley national of Greeley, the American national of Leadville, and the First national of Rico, have also resumed. This shows that confidence is returning and the outlook for Colorado much brighter.

23. August 26, 1893 The Madison Daily Leader Madison, SD
Article from The Madison Daily Leader, August 26, 1893

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To Buy Bank Assets. DENVER, Aug. 26.-The directors of the People's National bank, who are also the directors of the suspended People's Savings bank, have proposed to the depositors in the institution to assume all its liabilities and purchase its assets. The deposits are $1,000,000. A committee will confer and the consent of Comptroller Eckels is all that is necessary to bind the bargain.