State National Bank - Denver, CO

Bank Information

Episode Type: Suspension → Closure
Bank Type: national
Bank ID: 2694
Charter Number: 2694
Start Date: November 30, 1895
Location: Denver, Colorado (39.739, -104.985)

Metadata

Model: gpt-5-mini
Short Digest: 277fee05

Response Measures

None

Receivership Details

Date receivership started: 1895-08-24
OCC cause of failure: Losses

Description

Articles describe the State National Bank of Denver having been placed in receivership at the time of an earlier suspension; Comptroller decided (Nov. 30) to dissolve the receivership and the bank will proceed in voluntary liquidation. No run is described. Classification: suspension leading to permanent closure/voluntary liquidation (government-appointed receiver involved).

Events (8)

1. May 16, 1882 Chartered

Source: historical_nic

2. July 28, 1894 Voluntary Liquidation

Source: historical_nic

3. August 24, 1895 Receivership

Source: historical_nic

4. November 30, 1895 Receivership

Newspaper Excerpt: Mr. Eckles, the comptroller of the currency, has decided to dissolve the receivership of the State National bank of Denver. This will leave the great bulk of the assets ... in the hands of the receiver of the Union National bank, who will collect them as trustee and not as receiver, and when collected he will apply them to the liquidation of the State National's obligation to the Union National bank.
Source: newspapers

5. February 1, 1896 Restored To Solvency

Source: historical_nic

6. February 1, 1896 Voluntary Liquidation

Source: historical_nic

7. * Other

Newspaper Excerpt: The State National bank will proceed in voluntary liquidation, and the future relations of the banks will be in accordance with the contract entered into by them at the time of the suspension.
Source: newspapers

8. * Suspension

Cause: Government Action
Cause Details: Bank previously suspended payments and a receiver was appointed at time of suspension; suspension stemming from government/receivership action.
Newspaper Excerpt: the contract entered into by them at the time of the sus. pension.
Source: newspapers

Newspaper Articles (3)

1. December 5, 1895 Rocky Ford Enterprise Rocky Ford, CO

Article from Rocky Ford Enterprise, December 5, 1895

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Article Text

To Dissolve the Receivership. Washington, D. C., Nov. 30.-Mr. Eckles, the comptroller of the currency, has decided to dissolve the receivership of the State National bank of Denver. This will leave the great bulk of the assets of the State National in the hands of the receiver of the Union National bank, who will collect them as trustee and not as receiver, and when collected he will apply them to the liquidation of the State National's obligation to the Union National bank. The State National bank will proceed in voluntary liquidation, and the future relations of the banks will be in accordance with the contract entered into by them at the time of the sus. pension. With regard to the block of Wolftone mining stock purchased some years ago by the directors of the State National bank itself, the comptroller has decided not to interfere as requested to do by the stockholders. who insist that this stock, which has materially increased in value, should be restored to the bank assets. Any further proceedings in this matter will have to be taken in the courts.

2. March 6, 1900 New-York Tribune New York, NY

Article from New-York Tribune, March 6, 1900

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Article Text

EDWARD R. HOLDEN A BANKRUPT. FILES A PETITION WITH LIABILITIES OF $279,455-HAD LARGE HOLDINGS IN MINES AND SMELTERS. Edward R. Holden, broker at No. 20 Broad-st., has filed a petition in bankruptcy with liabilities of $279,455, and nominal assets, consisting of 250,000 shares of stock of the London Gold Mining Company, of Colorado, nominal value $250,000, actual value unknown; a life insurance policy of $10,000; real estate near Denver, $1,000, and cash $25, The largest creditors are Charles Graham, Philadelphia, $160,903, secured by 43 per cent of the stock of the Aspen Union Smelting Company, of Aspen, Col., nominal value $172,000, actual value unknown; receiver of the State National Bank of Denver, $56,238, judgment obtained in New-York on May 8, 1899; receiver of the Union National Bank of Denver, $32,128; G. B. Wheeler Banking Company, of Aspen, $23,532. Mr. Holden a few years ago was reputed to be a millionaire, and had interests in silver mines and smelters in Colorado. He came to New-York two years ago and has since been dealing in industrial bonds and became treasurer of an iron and steel company.

3. March 15, 1900 Daily Inter Mountain Butte, MT

Article from Daily Inter Mountain, March 15, 1900

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Article Text

MINES AND MINING IN BANKRUPTCY. Edward R. Holden, eastern agent of the Basin Gold and Copper Mining Company,has filed a petition in bankruptcy in New York with liabilities of $279,455. His assets consist of 250,000 shares of stock of the London Gold Mining company of Colorado, $250,000, actual value unknown: a life insurance policy of $10,000; real estate, near Denver, $1,000 and cash $25. Among the largest creditors are Charles Graham, Philadelphia, $160,903, secured by 43 per cent of the stock of the Aspen Union Smelting company, of Aspen, Col., nominal value $172,000, actual value unknown; receiver of the State National bank of Denver, $56,238, judgment obtained in New York on May 8, 1899; receiver of the Union National bank of Denver, $32,128; G. B. Wheeler Banking company, of Aspen, Col., $23,532. In an interview with Mr. Edward R. Holden in regard to the filing of his bankrupt petition, by which he sets aside $279,455 in liabilities with assets of $423,000 nominal value, Mr. Holden states that the liabilities set forth were satisfied under a contract entered into on the 24th day of April, 1895, by which the creditors, being all National banks, assumed the obligations of the Holden Smelting and Milling company, of which Mr. Holden was the endorser, and received in consideration therefor the entire plant of the Holden Smelting and Milling company, at Aspen, Col. The said national banks then became insolvent, and the receiver appointed refused to acknowledge the contracts previously made.